The world's biggest art fair, Art Basel, opened on Thursday and is pushing on this week, drawing art lovers and the commercial elite to the picturesque, river-cleaved Swiss town.
Scroll through the gallery above to see pictures of Art Basel 2022
But with a bear market on the horizon in the US, most portfolios are down by at least 20 per cent, and with inflation on the rise, it’s unclear how eager collectors will be.
Still, Art Basel, which runs until Sunday, is as much about the museum shows, the gallery presentations and the networking — and none of that is looking likely to change.
Here are a few gallery presentations worth knowing about.
Maha Malluh, Galerie Krinzinger at Art Basel Unlimited
Vienna’s Galerie Krinzinger is showing one of Saudi artist Maha Malluh’s cassette compositions, comprised entirely of tapes that she buys and uses for retro mosaics.
In Food for Thought “World Map” she depicts the globe as blocky and almost pixilated, using the now-obsolete music format as a tool of visual art.
Basim Magdy and Ahmed Morsi, Gypsum at Art Basel Unlimited and Art Basel Feature
Cairo gallery Gypsum is showing the paintings of Ahmed Morsi in the Art Basel Feature section. The Egyptian artist began working in Alexandria in the 1940s and moved to New York in 1974. His carefully worked-through, sympathetic canvases are now being brought to wider attention, partly, no doubt, because of his well-received 2017 exhibition at the Sharjah Art Foundation.
In Art Basel Unlimited, Gypsum is showing the wry, thoughtful and questioning work of fellow Egyptian artist Basim Magdy, who scrutinises images of the past and present (and also imagines the future) to understand the assumptions behind them — and often to highlight their absurdities.
Louise Bourgeois, Hauser & Wirth at Art Basel
Mega-gallery Hauser & Wirth has given over the main portion of its booth to a three-and-a-half metre steel spider.
A signature work by French-American artist Louise Bourgeois, it would be a prestigious addition to any collection — but unfortunately for any would-be buyers, this one sold prior to Art Basel opening, for a cool $40 million.
The rest of the booth shows other little-known names such as Philip Guston, Gerhard Richter and Isa Genzken.
Mounira Al Solh, Sfeir-Semler at Art Basel Unlimited
Lebanese artist Mounira Al Solh's installation Lackadaisical Sunset to Sunset is being exhibited. It's made up of an embroidered tent, enormous textured wall piece and sound component.
Al Solh’s tents are often used as vessels to contain stories and disquisitions from the point of view of historical and contemporary women. The works also relate to feminine forms of labour, stitched through with embroidery and floating in the air, as if on the precipice of being whisked away or sinking suddenly to the ground.
Ignasi Aballi, galeria elba benitez, Galerie Nordenhake at Art Basel Unlimited
Stretching out across the Unlimited section is Spanish artist Ignasi Aballi’s wall piece Horizontes, a play on the idea of horizontal and horizons.
The work collages different media images of the sea and the sky to create an image of a many horizons, seen at different moments by different vantage points.
Impossible to see at once, it beautifully performs the idea of plurality — an idea, and numerous sheets of paper, that can be yours for an asking price in the range of $100,000 to $200,000.
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Despacito's dominance in numbers
Released: 2017
Peak chart position: No.1 in more than 47 countries, including the United States, the United Kingdom, Australia and Lebanon
Views: 5.3 billion on YouTube
Sales: With 10 million downloads in the US, Despacito became the first Latin single to receive Diamond sales certification
Streams: 1.3 billion combined audio and video by the end of 2017, making it the biggest digital hit of the year.
Awards: 17, including Record of the Year at last year’s prestigious Latin Grammy Awards, as well as five Billboard Music Awards
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
The Year Earth Changed
Directed by:Tom Beard
Narrated by: Sir David Attenborough
Stars: 4
RESULTS
6.30pm: Handicap (TB) $68,000 (Dirt) 1,600m
Winner: Hypothetical, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer)
7.05pm: Meydan Sprint – Group 2 (TB) $163,000 (Turf) 1,000m
Winner: Equilateral, Andrea Atzeni, Charles Hills
7.40pm: Curlin Stakes – Listed Handicap (TB) $88,000 (D) 2,200m
Winner: New Trails, Fernando Jara, Ahmad bin Harmash
8.15pm: UAE Oaks – Group 3 (TB) $125,000 (D) 1,900m
Winner: Mnasek, Pat Dobbs, Doug Watson
8.50pm: Zabeel Mile – Group 2 (TB) $163,000 (T) 1,600m
Winner: D’bai, William Buick, Charlie Appleby
9.25pm: Balanchine – Group 2 (TB) $163,000 (T) 1,800m
Winner: Summer Romance, James Doyle, Charlie Appleby
10pm: Al Shindagha Sprint – Group 3 (TB) $130,000 (D) 1,200m
Winner: Al Tariq, Pat Dobbs, Doug Watson
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Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
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Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
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Water waste
In the UAE’s arid climate, small shrubs, bushes and flower beds usually require about six litres of water per square metre, daily. That increases to 12 litres per square metre a day for small trees, and 300 litres for palm trees.
Horticulturists suggest the best time for watering is before 8am or after 6pm, when water won't be dried up by the sun.
A global report published by the Water Resources Institute in August, ranked the UAE 10th out of 164 nations where water supplies are most stretched.
The Emirates is the world’s third largest per capita water consumer after the US and Canada.
Jetour T1 specs
Engine: 2-litre turbocharged
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UAE currency: the story behind the money in your pockets
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Is it worth it? We put cheesecake frap to the test.
The verdict from the nutritionists is damning. But does a cheesecake frappuccino taste good enough to merit the indulgence?
My advice is to only go there if you have unusually sweet tooth. I like my puddings, but this was a bit much even for me. The first hit is a winner, but it's downhill, slowly, from there. Each sip is a little less satisfying than the last, and maybe it was just all that sugar, but it isn't long before the rush is replaced by a creeping remorse. And half of the thing is still left.
The caramel version is far superior to the blueberry, too. If someone put a full caramel cheesecake through a liquidiser and scooped out the contents, it would probably taste something like this. Blueberry, on the other hand, has more of an artificial taste. It's like someone has tried to invent this drink in a lab, and while early results were promising, they're still in the testing phase. It isn't terrible, but something isn't quite right either.
So if you want an experience, go for a small, and opt for the caramel. But if you want a cheesecake, it's probably more satisfying, and not quite as unhealthy, to just order the real thing.
Ads on social media can 'normalise' drugs
A UK report on youth social media habits commissioned by advocacy group Volteface found a quarter of young people were exposed to illegal drug dealers on social media.
The poll of 2,006 people aged 16-24 assessed their exposure to drug dealers online in a nationally representative survey.
Of those admitting to seeing drugs for sale online, 56 per cent saw them advertised on Snapchat, 55 per cent on Instagram and 47 per cent on Facebook.
Cannabis was the drug most pushed by online dealers, with 63 per cent of survey respondents claiming to have seen adverts on social media for the drug, followed by cocaine (26 per cent) and MDMA/ecstasy, with 24 per cent of people.
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Company profile
Date started: Founded in May 2017 and operational since April 2018
Founders: co-founder and chief executive, Doaa Aref; Dr Rasha Rady, co-founder and chief operating officer.
Based: Cairo, Egypt
Sector: Health-tech
Size: 22 employees
Funding: Seed funding
Investors: Flat6labs, 500 Falcons, three angel investors
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5