72 powerful images on display at Perpignan's festival of photojournalism

The event is running in France until September 11

August 29, 2022

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Arabic

The 34th International Festival of Photojournalism, called Visa Pour L'image, is in full swing in Perpignan, France, celebrating the very best images from the news cycle.

Over 15 days, until September 11, festival-goers can discover news subjects and documentaries from around the world, as well as take in 25 exhibitions, screenings and several events at various venues across the southern French city.

Prizes will be handed out, there will be book signings and plenty of meetings with exhibiting photographers.

Scroll through the gallery above to see some of the images that are on display

This includes the presentation of work by Syrian AFP photographer Sameer Al-Doumy, winner of the 2022 Humanitarian Visa d’or Award — International Committee of the Red Cross. Al-Doumy presents images that depict the migration crisis as experienced in the north of France.

Sabiha Cimen, a Turkish photographer with Magnum Agency and recipient of the 2020 Canon Female Photojournalist Grant, who lives between New York and Istanbul, presents Hafiz. This long-term project began in 2017 and shows Muslims who memorise the entire Quran to earn the title of Hafiz, to go before their name.

The project shows "not only the journey of the students on their way to becoming hafizes, but also shows that they can, as young hafizes, entertain dreams and have the same spirit of adventure as other young women of their age", Cimen says in the description.

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Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.

Film: Raid
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Verdict: Three stars

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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.”

Updated: August 29, 2022, 1:14 PM

Photography France

72 powerful images on display at Perpignan's festival of photojournalism

The event is running in France until September 11

Striking images of West Bengal weather make the shortlist for prestigious British award — in pictures

More from Neighbourhood Watch:

More from Neighbourhood Watch:

Itcan profile

ESSENTIALS

Nepotism is the name of the game

Formula%204%20Italian%20Championship%202023%20calendar

Our legal columnist

Our legal consultant

In-demand&nbsp;jobs&nbsp;and&nbsp;monthly&nbsp;salaries

In-demand jobs and monthly salaries