Orientalism by Dana Awartani, 2010. PVC taped room. CREDIT: Courtesy Dana Awartani/Athr Gallery
Orientalism by Dana Awartani, 2010. PVC taped room. CREDIT: Courtesy Dana Awartani/Athr Gallery
Orientalism by Dana Awartani, 2010. PVC taped room. CREDIT: Courtesy Dana Awartani/Athr Gallery
Orientalism by Dana Awartani, 2010. PVC taped room. CREDIT: Courtesy Dana Awartani/Athr Gallery

21,39 launches in Jeddah


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A two-month long programme of exhibitions, workshops, studio visits and talks highlighting the narrative of the art scene in Saudi Arabia kicks off today as part of Jeddah Art Week. 21,39, so named after the geographical co-ordinates of the western Saudi city, is the debut initiative of the newly formed Saudi Arts Council that aims to promote art throughout the Kingdom.

It begins with two seminal exhibitions; Past is Prologue will exhibit 26 modern Saudi artists, the most that have ever been exhibited together in one place, in order to present the deep foundations and the history of art in the region and Moallaqat focuses on contemporary Saudi art with work from names such as Manal Aldowayan, Nasser Al-Salem, Jowhara Al-Saud, Ahmed Mater and Faisal Samra.

“The event is about communicating with the public through the language of art,” says Mohammed Hafiz. “We want to engage with the social fabric of the city.” Hafiz, who co-founded Athr Gallery, is also the vice chairman of the arts council. He said they have had a really positive response and support from the whole community including the Ministry of Education who are organising school workshops and the prestigious families of Jeddah of whom 36 have sponsored the event.

“We haven’t experienced any negativity either from any government institutions regarding censorship, which is an issue that everyone tends to bring up when it comes to Saudi Arabia.”

In addition to the primary exhibitions, 21,39 will present a curated retrospective from Safeya Binzagr, a pioneering female artist and there will also be a focus on Jeddah’s old town or Al Balad. The event will feature guided tours through the old city, rich in Hejazi architecture and there will also be a series of public sculptures as well as work from local graffiti artists to spread awareness and knowledge of this art form.

On Thursday, there will be a day long symposium of talks covering Saudi art in a global context, and the role of Saudi art as a major player in the art world. Guest speakers will include the artist Ahmed Mater, Saleh Barakat, gallery owner of?Agial Gallery in Beirut, Myrna Ayad, editor in chief of Canvas Magazine, Chris Dercon, director of Tate Modern Museum, London and Sheikha Hoor Al Qassimi, the president of the Sharjah Art Foundation.

Finally, the launch of a 350-page book charting the progress of the modern art scene in Saudi will be a key part of the opening week. Contemporary Kingdom: The Saudi Art Scene Now, produced by Dubai-based publishing house Canvas Central illustrates the growth of the Saudi art market, the artists, galleries, educational programmes and public institutions, in addition to the patronage system and the rise of a new generation of young collectors.

* For more information on the whole initiative visit www.21-39.com

UAE rugby in numbers

5 - Year sponsorship deal between Hesco and Jebel Ali Dragons

700 - Dubai Hurricanes had more than 700 playing members last season between their mini and youth, men's and women's teams

Dh600,000 - Dubai Exiles' budget for pitch and court hire next season, for their rugby, netball and cricket teams

Dh1.8m - Dubai Hurricanes' overall budget for next season

Dh2.8m - Dubai Exiles’ overall budget for next season

EA Sports FC 26

Publisher: EA Sports

Consoles: PC, PlayStation 4/5, Xbox Series X/S

Rating: 3/5

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

The Vile

Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

Honeymoonish
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Elie%20El%20Samaan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENour%20Al%20Ghandour%2C%20Mahmoud%20Boushahri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A

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.”

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MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

THE SPECS

BMW X7 xDrive 50i

Engine: 4.4-litre V8

Transmission: Eight-speed Steptronic transmission

Power: 462hp

Torque: 650Nm

Price: Dh600,000

MISSION: IMPOSSIBLE – FINAL RECKONING

Director: Christopher McQuarrie

Starring: Tom Cruise, Hayley Atwell, Simon Pegg

Rating: 4/5

UAE currency: the story behind the money in your pockets
'Spies in Disguise'

Director: Nick Bruno and Troy Quane

Stars: Will Smith, Tom Holland, Karen Gillan and Roshida Jones 

Rating: 4 out of 5 stars

WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae