'Divine Horses' was only recently revealed to be part of Kadhim Hayder's 'Martyr's Epic' series. Courtesy Bonhams
'Divine Horses' was only recently revealed to be part of Kadhim Hayder's 'Martyr's Epic' series. Courtesy Bonhams
'Divine Horses' was only recently revealed to be part of Kadhim Hayder's 'Martyr's Epic' series. Courtesy Bonhams
'Divine Horses' was only recently revealed to be part of Kadhim Hayder's 'Martyr's Epic' series. Courtesy Bonhams

'A more important piece than anticipated': Kadhim Hayder's 'Divine Horses' among Middle East art sale at Bonhams


Melissa Gronlund
  • English
  • Arabic

Bonhams’ Modern and Contemporary Middle East spring art sale will go ahead online on Thursday, June 11, with a strong showing of lots from Jewad Selim, Kadhim Hayder, Omar El Nagdi, Monir Farmanfarmaian and more.

The sale has also brought new information to light about Hayder's important 1965 series The Martyr's Epic, which depicts Iraq's Battle of Karbala in 680 AD. Bonhams is offering the painting Divine Horses for sale, which is being consigned by an Arabian musicologist in Paris. Estimates for the piece range between £50,000 (Dh234,000) and £80,000 (Dh374,000).

The musicologist had received the work as a gift from Iraqi artist Hayder in 1970, when they were both teaching at the Faculty of Fine Arts in Baghdad, and believed it had been painted that year.

As part of its pre-sale marketing, Bonhams put an image of the work on Instagram, with its date as 1970. But a researcher got in touch to say the work was actually executed in 1965, within The Martyr's Epic cycle.

"So it's a much more important piece than we anticipated," says Nima Sagharchi, director of Middle Eastern, Islamic and South Asian Art at Bonhams, adding that this makes it a companion piece to the well-known painting Fatigued Ten Horses Converse with Nothing (The Martyr's Epic), which is in the Barjeel Art Foundation's collection and on semi-permanent view at the Sharjah Art Museum.

"Divine Horses was exhibited in Beirut, Baghdad and all around the Arab world in 1965 as part of The Martyr's Epic," Sagharchi continues. "In this one, Imam Hussein has died and the horses are mourning him."

Hayder painted around 30 works in The Martyr's Epic, but many have been lost.

Other lots in the Bonhams sale include a 1943 painting by Selim, Women Waiting, which shows street life in Baghdad in an early example of the Iraqi artist's folk modernism. Estimates range between £150,000 and £250,000.

Two abstract paintings are on sale from the Egyptian artist Adam Henein, who passed away earlier this month: Beneath the Shadows (1982) and The Shadow Rising (1983), which Bonhams have priced between £5,000 and £15,000 each.

A darkly dramatic work by Fahrelnissa Zeid from the 1960s depicts her daughter as Lady Macbeth, clutching a tall candlestick and challenging the viewer.

Fahrelnissa Zeid painted this portrait of her daughter as Lady Macbeth in the 1960s. Coutesy Bonhams
Fahrelnissa Zeid painted this portrait of her daughter as Lady Macbeth in the 1960s. Coutesy Bonhams

And, in an unanticipated twist, the Bonhams sale also ventures into the current debate over public monuments, with Mohammed Ghani Hikmat's Iraq Rises (estimate £30,000-£50,000), which was commissioned privately in 2006.

Ghani is behind many of Iraq’s major public sculptures, including the Freedom Monument in Tahrir Square, for which he cast the bronze elements of Selim’s design.

“This is largest and most substantial work by Ghani ever to come to market,” says Sagharchi. “Carved out of a colossal block of limestone weighing nearly 1,000 kilograms, Ghani's composition … demonstrates the artist's skill at harmonising compositions on a large scale.”

Ghani's 'Iraq Rises' is carved from a single block of limestone weighing nearly 1,000kg. Courtesy Bonhams
Ghani's 'Iraq Rises' is carved from a single block of limestone weighing nearly 1,000kg. Courtesy Bonhams

Overall, the works are priced conservatively, though Sagharchi he says he has been pleasantly surprised by the amount of interest the works have garnered – particularly from the Emirates, via both existing and potentially new clients.

“It not only gives us confidence in that market,” he says, “but we also see that people have used their time off very productively, to educate themselves and to develop an interest in a field they may have overlooked before.”

War and the virus
The Details

Kabir Singh

Produced by: Cinestaan Studios, T-Series

Directed by: Sandeep Reddy Vanga

Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa

Rating: 2.5/5 

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.”

The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
  • Stay invested: Time in the market, not timing the market, is critical to long-term gains.
  • Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
  • Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
 
 
2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

While you're here
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UAE currency: the story behind the money in your pockets
Results
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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

Company%20Profile
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Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
Japan 30-10 Russia

Tries: Matsushima (3), Labuschange | Golosnitsky

Conversions: Tamura, Matsuda | Kushnarev

Penalties: Tamura (2) | Kushnarev

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

Set-jetting on the Emerald Isle

Other shows filmed in Ireland include: Vikings (County Wicklow), The Fall (Belfast), Line of Duty (Belfast), Penny Dreadful (Dublin), Ripper Street (Dublin), Krypton (Belfast)

Places to go for free coffee
  • Cherish Cafe Dubai, Dubai Investment Park, are giving away free coffees all day. 
  • La Terrace, Four Points by Sheraton Bur Dubai, are serving their first 50 guests one coffee and four bite-sized cakes
  • Wild & The Moon will be giving away a free espresso with every purchase on International Coffee Day
  • Orange Wheels welcome parents are to sit, relax and enjoy goodies at ‘Café O’ along with a free coffee
WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

The Bio

Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity

Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more