French artist JR reveals next project will take place at Egypt's Pyramids of Giza


Alexandra Chaves
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French artist JR – famous for installing giant black-and-white trompe l’oeil in public places – has revealed that his next project will be at the Pyramids of Giza in Cairo.

JR made the announcement on Instagram with a picture of himself on horseback with the pyramids in the background.

"Proud to announce my next project at the Pyramids in October 2021," he wrote, saying the artwork "might be a photo collage". It appears that the artist visited the site in April this year.

The work is a commission by Art D'Egypte, a company organising a major contemporary art exhibition titled Forever is Now at the site of the pyramids that is planned to open in October.

Art D’Egypte’s founder, Nadine Abdel Ghaffar, is working with independent curator Simon Watson to select artists for the show and Egyptian archaeologist Zahi Hawass to map the trail where the artworks might be installed across the Giza Plateau.

It won't be the first time that JR has presented work in the region. In 2011, the artist brought his Inside Out project to the UAE. Setting up a colossal photo booth in Manarat Al Saadiyat, JR allowed visitors to have their portraits taken and A1 posters of it printed for free, after which they could paste the image outside the centre or wherever they chose.

For his projects, JR often creates large-scale optical illusions by installing images over landmarks or structures. His most recent creation is at the site of the Eiffel Tower, where the image makes it seem as though the Parisian landmark is perched on top of a canyon or ravine.

Among his most well-known is a 2019 work, where he pasted 2,000 strips of paper around the Louvre Pyramid, so it appeared to be emerging from a crater.

The collaboration, which involved the help of hundreds of volunteers and asked the public to tear off pieces of the paper strips, was created for the 30th anniversary of the glass and metal structure designed by IM Pei.

The artist has also completed projects that engage with local communities, such as the 2017 work Migrants, Picnic across the border wherein a pair of eyes – a monochrome photograph of a young undocumented immigrant in the US – stretched from the cities of Tecate, Mexico to Tecate, California.

More than the photo, it also served as a picnic table, where visitors on either side of the border could gather and eat together despite the wall between them.

The community intervention followed an earlier installation from that year, which showed a toddler named Kikito peering over border fence towards the US.

Details on JR’s work for the Forever is Now exhibition are still scant, though it will likely bear the artist’s signature elements of his monochromatic palette and dramatic use of scale.

How to join and use Abu Dhabi’s public libraries

• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.

• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.

• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.

• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.

• For more information visit the library network's website.

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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.”

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The Great Derangement: Climate Change and the Unthinkable
Amitav Ghosh, University of Chicago Press

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