Moving to a new location may have been good for the Emirates Airline Festival of Literature.
The annual event was, for years, held at the Intercontinental Hotel at Dubai Festival City. The hotel’s hallways, floor-to-ceiling windows and views of Dubai Creek became a defining quality of the festival, and it is precisely for this reason why relocating to a new venue was beneficial. While the festival’s programming ensured a sense of novelty with every iteration, there was little doubt about how the festival would look like on the ground.
Well, the festival looks a lot different this year.
Now in its 14th year, the festival began on Thursday and is taking place until February 13 at the Hilton Dubai Al Habtoor City.
The event’s lime-green and red banners are arranged by the arched side-entrance of the hotel, making it easy to spot if you’re driving to the festival. Valet services are being offered at the venue, so you don’t need to worry about finding a parking spot.
The Magrudy’s-run bookshop – a recurring feature of the festival – has been set up just beyond the hotel entrance so once you walk through the doors, you’ll find yourself immediately surrounded by books.
The venue may not be as spacious, but as students pore over books and attendees rush from hall to hall, there’s a reprise of the festival’s signature bustle that was much missed in the previous Covid-stricken event.
“This is the first time we’re here. We’re excited, it feels fresh,” Ahlam Bolooki, director of the Emirates Airline Festival Literature, tells The National during a Twitter Spaces interview.
The festival opened with Emirati Day, a programme that shows off local talent with a series of talks, panel discussions, workshops and poetry performances.
Mohammed Ahmed Al Marri, director general of the General Directorate of Residency and Foreigners Affairs, Mohammed Saeed Harib, creator of popular animated show Freej, and business leader Khalaf Al Habtoor were among the cultural figures who appeared at the festival’s inaugural day.
“Today is the first day of the festival and we are focusing on Emirati literature,” Bolooki said. “Attendance today is completely free because we want as many people as possible to come and discover the best local literature.”
As with every year, the festival has sessions in Arabic and English with simultaneous translations available for most of the sessions. However, you will need to bring your own earphones to listen in to the translations.
“When you enter the session, there’ll be a QR code taking you to a Zoom link where you can listen to the simultaneous translations,” she says. “We also have a Japanese author here this year, Toshikazu Kawaguchi, who has written Before the Coffee Gets Cold and he will be speaking in Japanese with simultaneous translations available. All you need to do is bring your own headphones.”
While a majority of the international authors in last year’s programme appeared virtually at the festival, the event is marking an assured comeback to in-person events.
“We’re very happy to have international authors flying in again,” she says. “Last year, due to Covid, international authors joined us virtually. This year, it’s back to full attendance.”
The festival has an international programme that highlights the source literature behind some of today’s most popular films and television series.
Bridgerton author Julia Quinn and Chernobyl 1986 author Serhii Plokhy, both of whom had their works turned into hit Netflix projects, will be appearing at the festival.
Sara Gay Forden, author of House of Gucci, which has been adapted into a film starring Lady Gaga and Al Pacino, has also been confirmed.
While virtual sessions did offer an advantage as it expanded the festival’s reach, Bolooki says when it comes to a literary event, nothing replaces an in-person gathering.
“The energy is palpable and we missed it so much,” she says. “The energy speaks for itself and having like-minded individuals in the same space. Some of the best friends I’ve made have been through the festival.”
Call of Duty: Black Ops 6
Developer: Treyarch, Raven Software
Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5
Top 10 in the F1 drivers' standings
1. Sebastian Vettel, Ferrari 202 points
2. Lewis Hamilton, Mercedes-GP 188
3. Valtteri Bottas, Mercedes-GP 169
4. Daniel Ricciardo, Red Bull Racing 117
5. Kimi Raikkonen, Ferrari 116
6. Max Verstappen, Red Bull Racing 67
7. Sergio Perez, Force India 56
8. Esteban Ocon, Force India 45
9. Carlos Sainz Jr, Toro Rosso 35
10. Nico Hulkenberg, Renault 26
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Sleep Well Beast
The National
4AD
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
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.”
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
Brief scoreline:
Toss: South Africa, elected to bowl first
England (311-8): Stokes 89, Morgan 57, Roy 54, Root 51; Ngidi 3-66
South Africa (207): De Kock 68, Van der Dussen 50; Archer 3-27, Stokes 2-12
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DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
'Top Gun: Maverick'
Rating: 4/5
Directed by: Joseph Kosinski
Starring: Tom Cruise, Val Kilmer, Jennifer Connelly, Jon Hamm, Miles Teller, Glen Powell, Ed Harris
