Woven Chronicle (2011-2023) is a wall drawing depicting the impact of humans on their environments. Photo: David Aebi
Woven Chronicle (2011-2023) is a wall drawing depicting the impact of humans on their environments. Photo: David Aebi
Woven Chronicle (2011-2023) is a wall drawing depicting the impact of humans on their environments. Photo: David Aebi
Woven Chronicle (2011-2023) is a wall drawing depicting the impact of humans on their environments. Photo: David Aebi

Reena Saini Kallat's Switzerland debut poses questions about disaster and conflict


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"While rivers have been the lifeblood of civilisations, their use as a shared natural resource between countries often results in conflict. Yet, rivers don’t recognise political borders and other man-made demarcations and continue to nourish states on both sides," says Reena Saini Kallat.

The internationally celebrated Indian conceptual artist is speaking about Deep Rivers Run Quiet – her sprawling ongoing exhibition at Kunstmuseum Thun, Switzerland. Her first solo museum show in the country, Deep Rivers Run Quiet draws our attention to the perils of climate change and its geopolitical impact on both human communities and the planet itself.

Kunstmuseum Thun is a former opulent Art Deco hotel that was converted into a museum in 1949. Museum director Helen Hirsch tells The National the museum's location on the Aare River's banks makes it the perfect setting for an exhibition on this topic. "Climate change is a serious issue in Europe as well. The Alps, for instance, are becoming more and more fragile. Our glaciers are melting and we have frequent landslides.

Indian artist Reena Saini Kallat's latest show juxtaposes waterways with electrical equipment. Photo: Reena Saini Kallat
Indian artist Reena Saini Kallat's latest show juxtaposes waterways with electrical equipment. Photo: Reena Saini Kallat

"While working on Deep Rivers Run Quiet, I realised how relevant the exhibition is for European people equally," Hirsch adds.

The museum has allocated 11 galleries to the show, which opens with a series of powerful drawings. Throughout the works, Kallat compares the river's currents to the ticking urgency of the electrical activity of ECG equipment. The waterscape and the original line drawings appear to be interwoven, interrupting and enriching one another at the same time.

"In these works, I depict the artificial lines that politically divide regions and intersect with the natural form of the river that flows between them, such as Imjin between North and South Korea," says Kallat.

Reena Saini Kallat's Deep Rivers Run Quiet (2021-2022). A gouache, charcoal and water soluble pencil on deckled edge paper and Arches paper. Photo: David Aebi
Reena Saini Kallat's Deep Rivers Run Quiet (2021-2022). A gouache, charcoal and water soluble pencil on deckled edge paper and Arches paper. Photo: David Aebi

"What interests me in the juxtaposition with the painted form of the river is how these lines of separation are symbolically transformed, dissolving in the universal solvent as nature reclaims, regenerates and restores," explains Kallat, who first became interested in the subject of water crisis after participating in the River Biennale at the Campbelltown Art Centre, Sydney in 2009-2010. One of her earliest environmental-focused works, 2 Degrees, was shown at the event.

The water dispute between India and Pakistan, for instance, can be traced to the partition in 1947. "Pakistan gained the use of the three western tributaries – Indus, Jhelum and Chenab – and India, the three eastern ones – Ravi, Beas and Sutlej.

"Even though the Indus Waters Treaty signed in the 1960s created an understanding of how water would be shared between the two countries, climate change and transforming water usage patterns in the Indus river basin have placed increasing stress on the foundations of the treaty," Kallat explains. "The rivers may have multiple names, but the waters essentially remain the same."

Previously exhibited at Sharjah Biennial, Chorus I (2015-19) reimagines devices used to detect the sounds of enemy aircraft during the Second World War, replacing the sounds of war with birdsong. Photo: David Aebi
Previously exhibited at Sharjah Biennial, Chorus I (2015-19) reimagines devices used to detect the sounds of enemy aircraft during the Second World War, replacing the sounds of war with birdsong. Photo: David Aebi

Meanwhile, some of the most engaging works in Deep Rivers Run Quiet – the title is a nod to Japanese author Haruki Murakami's Hard-boiled Wonderland and the End of the World – are drawn from themes that Kallat has been honing for years. These include political borders, geographical maps, migration, national identities, the idea of homeland, colonialism's chequered legacy and the tumultuous India-Pakistan Partition of 1947, the effects of which continue to haunt much of the Indian subcontinent.

Woven Chronicle (2011-2023) is among the exhibition's most fascinating pieces. At first glance, this wall drawing seems to be simply another map of the world. But look closely and you will see that it is based on migratory paths, representing the impact of humans on their environments, using a colour code for the ecological footprint of each country.

"When a population’s ecological footprint exceeds its biocapacity, the region has a biocapacity deficit. If, however, the carbon footprint of a region is smaller than its biocapacity, that means that the people there consume less than their biosphere regenerates and absorbs, which hints at the region's ecological credit," says Kallat.

Hyphenated Lives (2015) pieces together animals from nations with troubled relations, imagining a peaceful and harmonious future. Photo: David Aebi
Hyphenated Lives (2015) pieces together animals from nations with troubled relations, imagining a peaceful and harmonious future. Photo: David Aebi

"The map distinguishes between the high standard of living in the North and the lower standard in the South, whereby the traditional roles are reversed. The South does relatively well here, while the footprint of the Global North significantly outstrips its biocapacity,” says Kallat, who lives and works from Mumbai and is married to fellow artist Jitish Kallat.

Woven Chronicle was made using electric cables, which are recurring motifs in Kallat's art, along with fences and barbed wires. Perhaps, for Kallat, whose paternal family was displaced from Lahore during the Partition of 1947, these elements are symbolic of violence, while also highlighting an intrinsic connection that all humans share.

The artist acknowledges that there's an inherent contradiction in wires. "On the one hand, they transmit information and are forms of communication for the modern world, but they also serve as barriers and are used to keep outsiders at bay."

In Siamese Trees (2018-19), she playfully combines botanical studies with electric wires once again, a twisty installation that ultimately bears the shape of a human lung, underlining our interdependence with trees as a source of oxygen, whereas in Enemy Properties (2019), a four-channel video projection, we see buildings left behind by residents on both sides of the Indian and Pakistani borders in the aftermath of the events of 1947.

Siamese Trees (2018-19) merges botany with wiring to reflect our reliance on trees as a source of oxygen. Photo: David Aebi
Siamese Trees (2018-19) merges botany with wiring to reflect our reliance on trees as a source of oxygen. Photo: David Aebi

Recreated using salt outlines, Kallat says she was captivated by the notion of how architectural remnants become "a projection of historical hostility, leading us to reflect upon the use of 'enemy' as an adjective to describe these inanimate buildings, thereby almost personifying them."

One of the buildings recalled here includes the storied home of Muhammed Ali Jinnah, Pakistan's founding father, located in Mumbai that incidentally, the government of India reclassified recently as "not an enemy property" anymore. If there's one thing both Indians and Pakistanis yearn for, it is peace.

Kallat's Chorus I (2015-2019) is modelled on devices used to detect the sounds of enemy aircraft during the Second World War, but the artist, who had shown this work previously at the Sharjah Biennial 15, replaces the sounds of war with birdsong from seemingly rival countries singing gleefully. In a similar vein is another work titled Hyphenated Lives (2014-2022), which reimagines harmony between India and Pakistan and other regions.

She conjures up her own parallel universe in Hyphenated Lives, demonstrating the need for world peace. The series takes national birds, animals and flowers from nations with troubled relations and gives them a hybrid handshake. By effectively merging one half of the animal from one country with its counterpart from the neighbouring country (including a hybrid of an Israeli hoopoe with a Palestinian sunbird, which she has nicknamed "sun-poe" and an Indian peacock with a Pakistani chukar, which she calls "pea-kar"), Kallat proves that while art may not have all the answers, it has the power to envision possibilities that are often beyond the realm of reality.

“You cannot always predict the ways in which art affects people," she says. "It has the unique capacity to subtly influence, to make us reflect on things not as they are, but as they could or should be, by prompting us to ask questions."

Deep Rivers Run Quiet is on view at Kunstmuseum Thun in Switzerland until September 3

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Museum of the Future in numbers
  •  78 metres is the height of the museum
  •  30,000 square metres is its total area
  •  17,000 square metres is the length of the stainless steel facade
  •  14 kilometres is the length of LED lights used on the facade
  •  1,024 individual pieces make up the exterior 
  •  7 floors in all, with one for administrative offices
  •  2,400 diagonally intersecting steel members frame the torus shape
  •  100 species of trees and plants dot the gardens
  •  Dh145 is the price of a ticket

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

ANDROID%20VERSION%20NAMES%2C%20IN%20ORDER
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The specs
Engine: 2.0-litre turbo 4-cyl

Transmission: eight-speed auto

Power: 190bhp

Torque: 300Nm

Price: Dh169,900

On sale: now 

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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Keane on …

Liverpool’s Uefa Champions League bid: “They’re great. With the attacking force they have, for me, they’re certainly one of the favourites. You look at the teams left in it - they’re capable of scoring against anybody at any given time. Defensively they’ve been good, so I don’t see any reason why they couldn’t go on and win it.”

Mohamed Salah’s debut campaign at Anfield: “Unbelievable. He’s been phenomenal. You can name the front three, but for him on a personal level, he’s been unreal. He’s been great to watch and hopefully he can continue now until the end of the season - which I’m sure he will, because he’s been in fine form. He’s been incredible this season.”

Zlatan Ibrahimovic’s instant impact at former club LA Galaxy: “Brilliant. It’s been a great start for him and for the club. They were crying out for another big name there. They were lacking that, for the prestige of LA Galaxy. And now they have one of the finest stars. I hope they can go win something this year.”

Dirham Stretcher tips for having a baby in the UAE

Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:

• Buy second hand stuff

 They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.

• Get a health card and vaccinate your child for free at government health centres

 Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.

• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.

Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.

• Once baby is ready for solids, cook at home

Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.

Types of bank fraud

1) Phishing

Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.

2) Smishing

The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.

3) Vishing

The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.

4) SIM swap

Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.

5) Identity theft

Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.

6) Prize scams

Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.

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The specs: 2019 Cadillac XT4

Price, base: Dh145,000

Engine: 2.0-litre turbocharged in-line four-cylinder engine

Transmission: Nine-speed automatic

Power: 237hp @ 5,000rpm

Torque: 350Nm @ 1,500rpm

Fuel economy, combined: 8.7L / 100km

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The specs

Engine: 2x201bhp AC Permanent-magnetic electric

Transmission: n/a

Power: 402bhp

Torque: 659Nm

Price estimate: Dh200,000

On sale: Q3 2022 

The specs

Engine: 3-litre twin-turbo V6

Power: 400hp

Torque: 475Nm

Transmission: 9-speed automatic

Price: From Dh215,900

On sale: Now

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Updated: August 16, 2023, 8:37 AM