The International Prize for Arabic Fiction has announced its shortlist for 2024.
The writers represent a diverse selection, with four men and two women from five countries selected. Each will receive $10,000, with the winner being awarded an additional $50,000 at a ceremony in the UAE capital on April 28, the night before the start of the Abu Dhabi International Book Fair.
The shortlisted works are Bahbel: Makkah Multiverse 1945-2009 by Saudi author Raja Alem, Suleiman's Ring by Syrian author Rima Bali, The Seventh Heaven of Jerusalem from Palestinian writer Osama Al Eissa, A Mask, the Colour of the Sky by Palestinian Basim Khandaqji, Gambling on the Honour of Lady Mitsy by Egyptian novelist Ahmed Al Morsi and The Mosaicist by Eissa Nasiri of Morocco.
This year’s panel of judges is led by Syrian writer Nabil Suleiman. The panel also includes Palestinian writer, researcher and academic Sonia Nimr, Czech academic Frantisek Ondras, Egyptian critic and journalist Mohamed Shoair and Sudanese writer and journalist Hammour Ziada.
“The shortlisted novels offer us a profound fictional excavation of history, where the distant and more recent past and future intersect. Various civilisations and artistic forms are interwoven with their narratives. Their subjects include war, the body and family breakdown, questions of identity, oppression, cruelty, as well as individual and collective human longing for freedom and justice,” said Suleiman.
“With passion and perception, the novels engage with the wars, exiles and uprisings endured by the Arab world at the current moment. Their rich creative worlds are not limited to their localities but span the globe, highlighting common struggles. Their visions and aesthetic expressions are diverse, tinged with self-awareness and imaginative verve.”
Meanwhile, professor Yasir Suleiman, chair of the board of trustees, said the shortlisted works give a “nuanced sense of place in which a varied tapestry of humanity is reflected.”
“The novels of the shortlist for this year dig deep into the past to excavate the present. This results in haunting narratives that weave their stories from fracture, aided by the resurrection of memories of a vanishing past and the pursuit of hope dashed by inevitable oblivion,” he said.
“Through all of this we find ourselves in the Makkah of bygone years, the Old City of Jerusalem of tormented present, and in the city of Aleppo in which the scars of the recent past are indelibly marked on the bodies of its people in their rich demography. And this is the first time in the history of the Prize that a novel from [literally] behind the walls of an Israeli jail reaches out to readers on the other side.”
The specs
Engine: 0.8-litre four cylinder
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Torque: 66Nm
Transmission: four-speed manual
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On sale: Models from 1966 to 1970
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UAE currency: the story behind the money in your pockets
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 specs: 2019 Mercedes-Benz C200 Coupe
Price, base: Dh201,153
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Nine-speed automatic
Power: 204hp @ 5,800rpm
Torque: 300Nm @ 1,600rpm
Fuel economy, combined: 6.7L / 100km
UAE currency: the story behind the money in your pockets
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.
The specs
Engine: 3.9-litre twin-turbo V8
Transmission: seven-speed
Power: 720hp
Torque: 770Nm
Price: Dh1,100,000
On sale: now
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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
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
2020 Oscars winners: in numbers
- Parasite – 4
- 1917– 3
- Ford v Ferrari – 2
- Joker – 2
- Once Upon a Time ... in Hollywood – 2
- American Factory – 1
- Bombshell – 1
- Hair Love – 1
- Jojo Rabbit – 1
- Judy – 1
- Little Women – 1
- Learning to Skateboard in a Warzone (If You're a Girl) – 1
- Marriage Story – 1
- Rocketman – 1
- The Neighbors' Window – 1
- Toy Story 4 – 1
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The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now