Substation 4, Masfout, UAE, 2010, by Sinisa Vlajkovic and Mohamed Somji. Images courtesy Cuadro Gallery / the artists
Substation 4, Masfout, UAE, 2010, by Sinisa Vlajkovic and Mohamed Somji. Images courtesy Cuadro Gallery / the artists
Substation 4, Masfout, UAE, 2010, by Sinisa Vlajkovic and Mohamed Somji. Images courtesy Cuadro Gallery / the artists
Substation 4, Masfout, UAE, 2010, by Sinisa Vlajkovic and Mohamed Somji. Images courtesy Cuadro Gallery / the artists

Cuadro Gallery's show of crumbling truths


  • English
  • Arabic

The ramshackle corrugated iron roof appears only to balance on its rusted stand and the neon sign, glowing beacon-yellow above it, makes the seemingly precarious structure look as if it is about to fall. If the tiny hut, housing a diesel pump, looks neglected that is because it is an endangered element of urban life, under threat from the perpetual desire for newness.

This is Substation 1-1 in Al Ghail, a small village in Ras Al Khaimah and the image is one of Sinisa Vlajkovic and Mohamed Somji's photographic series documenting independently owned diesel stations, unique to the emirates of Ajman and Ras Al Khaimah.

Photographed at night, the neon signs pierce the blackened skies and give them a kind of eerie ambience, making you wonder if they are real or imagined. Perhaps that is the whole point - these humble buildings will soon, most likely, be crushed by the dominating march of urbanisation stomping its way across the UAE's ever changing landscape. Substations was chosen as part of three exhibitions to embody the theme of the latest group show at Dubai's Cuadro Gallery. Here Today - A Record Of Urban Impermanence opened this week at the Dubai International Financial Centre space with the aim of documenting and imagining the impact of disappearance on our cities.

On the road

Adjacent to the photographic series is Vikram Divecha's Urban Epidermis - huge hulking pieces weighing more than 100 kilograms each and created to resemble exactly, in material and technique, pieces of road. The young Indian artist, who was born in Lebanon and is now based in Dubai, spent time in an asphalt mixing plant to acquire the tar and then applied layer upon layer to create the slabs. He then applied paint and created cracks and stains - to symbolise wear and tear.

If his road were real it would soon be tarred with a new layer, thus removing the memory and the imprint of the countless journeys made upon it. Much like the diesel stations, these records of the past are presented as impermanent and fragile. Alaa Al Shroogi, the gallery director, says: "We're seeing more and more work focused on documenting and imagining the fleeting and the transient. This is especially prevalent in areas witnessing rapid industrialisation."

Where the past and the future converge

The final series in the show is Sami Al Turki's Washaeg (Nexus). Here the Saudi photographer revisits Obhur's Red Sea coastline in Jeddah, where he spent much of his childhood. His images capture dramatic sky-scapes with dilapidated urban structures in the foreground. The infrastructure represents life that has long since disappeared and the overall effect is a kind of post-apocalyptic dream. Al-Turki manipulates his photographs to transport the viewer and draw them into his world. You leave the show wanting to go back for a second look.

Here Today - A Record of Urban Impermanence is at Cuadro Gallery, Building 10, DIFC Gate Village until March 14. Visit www.cuadroart.com for details

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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.”

U19 WORLD CUP, WEST INDIES

UAE group fixtures (all in St Kitts)

  • Saturday 15 January: UAE beat Canada by 49 runs 
  • Thursday 20 January: v England 
  • Saturday 22 January: v Bangladesh 

UAE squad:

Alishan Sharafu (captain), Shival Bawa, Jash Giyanani, Sailles
Jaishankar, Nilansh Keswani, Aayan Khan, Punya Mehra, Ali Naseer, Ronak Panoly,
Dhruv Parashar, Vinayak Raghavan, Soorya Sathish, Aryansh Sharma, Adithya
Shetty, Kai Smith  

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.
Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

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Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Tips from the expert

Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.

  1. Sellers should focus on providing high-quality used goods at attractive prices to buyers.
  2. It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
  3. Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
  4. Be creative and look around your home for valuable items that you no longer need but might be useful to others.
Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Profile

Company: Justmop.com

Date started: December 2015

Founders: Kerem Kuyucu and Cagatay Ozcan

Sector: Technology and home services

Based: Jumeirah Lake Towers, Dubai

Size: 55 employees and 100,000 cleaning requests a month

Funding:  The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups. 

Indoor Cricket World Cup

Venue Insportz, Dubai, September 16-23

UAE squad Saqib Nazir (captain), Aaqib Malik, Fahad Al Hashmi, Isuru Umesh, Nadir Hussain, Sachin Talwar, Nashwan Nasir, Prashath Kumara, Ramveer Rai, Sameer Nayyak, Umar Shah, Vikrant Shetty

World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

UAE currency: the story behind the money in your pockets
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