Much like film and music festivals around the world, one of the most internationally well-regarded literary gatherings has been cancelled for 2020.
While the Hay Festival will not physically take place in its Welsh namesake town this year because of the coronavirus pandemic, the literary event is set to move its proceedings online.
Hay Festival Digital will kick off later this month, bringing together a host of more than 100 names for talks, presentations and performances. Child-friendly sessions will take place from Monday to Friday, May 18 to 22, while the main programme will run from Friday to Sunday, May 22 to 31.
"We will be zinging the programme as if from a green field in Wales and welcoming readers from around the world into a digital party," says Peter Florence, director of Hay Festival.
Broadcasts will be streamed free via Crowdcast, but those interested in watching will have to register, with limited digital spaces available for the sessions. Many will be followed by an interactive Q&A, where viewers can engage with authors, politicians, actors and more.
Those interested in seeing the full programme and booking sessions should visit hayfestival.com, but in the meantime, here's our pick of the appearances to add to your virtual calendar.
1. Gloria Steinem
Friday, May 22, 2.30pm (5.30pm in the UAE, GST)
In this audio-only session, the celebrated activist, feminist and journalist will talk to Laura Bates, author of Everyday Sexism. Steinem will talk about her 2019 book, Thoughts on Life, Love and Rebellion. The read is made up of Steinem's most inspirational and stirring quotes, which the writer will discuss in depth, sharing her views on relationships, equality and politics.
2. Margaret Atwood, Benedict Cumberbatch, Stephen Fry, and more
Friday, May 22, 6.30pm (9.30pm GST)
An A-list cast of names that also includes Simon Armitage, Tom Hollander, Helen McCrory, Jonathan Pryce and Vanessa Redgrave, will perform poetry by William Wordsworth, to mark 250 years since the wordsmith's birth. Readings will include Intimations of Immortality, Daffodils, Upon Westminster Bridge, Tintern Abbey, The Prelude and We Are Seven. They will also read passages from the journal of Wordsworth's sister, Dorothy, no doubt all delivered with gravitas and searing emotion.
3. Hilary Mantel
Saturday, May 30, 2.30pm (5.30pm GST)
The Booker Prize winner – who scored an award apiece for Wolf Hall and its sequel, Bring Up the Bodies – will discuss the book that closes the trilogy, The Mirror and the Light. In an audio-only conversation with Peter Florence, Mantel will proffer insights on her Thomas Cromwell series ... so read the last one now if you do not like spoilers.
4. Helena Bonham Carter and Dominic West
Saturday, May 30, 5.30pm (8.30pm GST)
This session will focus on some of William Shakespeare's greatest verses, with readings by The Crown and The Wire actors. Together with curator Allie Esiri, the trio will discuss the Bard's body of work, as well as shine a light on some of his lesser-known scenes and sonnets.
5. Sandi Toksvig
Sunday, 31 May 31, 5.30pm (8.30pm GST)
The British-Danish comedienne and TV host, who has fronted both QI and The Great British Bake Off, will make a digital appearance to discuss her memoir, The View of My Life from the Top of the Number 12 Bus. The talented orator will close the programme by opening up about her storied life, during which she both performed at university with Emma Thompson and formed the Women's Equality Party.
6. Elif Shafak
Saturday, May 23, 8.30pm (11.30pm GST)
The Turkish author, whose novel 10 Minutes 38 Seconds in This Strange World was shortlisted for the Booker Prize, will not discuss her work in this specially commissioned short talk. Instead, the keen activist will "reflect on issues close to her heart, such as social justice, dignity, human rights, equality, public benefit, diversity", particularly in the context of the current pandemic.
7. William Dalrymple
Saturday, May 30, 1pm (4pm GST)
If you missed the historian's appearance at Hay Festival Abu Dhabi earlier this year, here is another chance to hear him talk about his latest book, The Anarchy. Dalrymple, who is also behind works such as In Xanadu, Nine Lives and The Last Mughal, will discuss the history of the East India Company, and how the British committed one of "the most supreme acts of corporate violence in world history".
8. Sami Tamimi, Tara Wigley and Yotam Ottolenghi
Monday May 25, 7.30pm (10.30pm GST)
Palestinian chef Tamimi, the long-time business partner of chef Ottolenghi, will appear to discuss his first solo cookbook, Falastin. Created with writer Wrigley, the book features more than 100 recipes inspired by his travels across the distinct regions of his homeland, from Bethlehem and Nablus to Haifa and the West Bank. Expect insight into the flavours, cuisines and culture of Palestine, as well as a rumbling tummy.
9. Leila Slimani, Lisa Dwan, Hilary Cottam and Sophie Hughes
Tuesday, May 26, 6.30pm (9.30pm GST)
Moroccan-born Slimani, who won the Prix Goncourt for her novel Lullaby, is joined by Irish actor Dwan and activist Cottam to chat to translator Hughes about their works, causes and the current global climate.
10. Greg Jenner
Saturday, May 23, 11.30am (2.30pm GST)
The historian and author is expected to present an eye-opening deep-dive into the culture of celebrity, and our centuries-old obsession with it. Recounting juicy tidbits from his book Dead Famous, Jenner will explore how the concept of celebrity burst on to the scene in the 18th century, but how its roots reach far deeper, as well as the psychological burden it can bestow on its recipients.
11. Jon Sopel
Saturday, May 23, 6.30pm (9.30pm GST)
Five months ahead of the election that will determine if US President Donald Trump will hold on to the reins for another term, the BBC's North America editor will take a look inside the White House under Trump's tenure. Using references from his book A Year at the Circus: Inside Trump's White House, Sopel will explore the impact this presidency has had on a number of American institutions, as well as offer insight into the history of the presidential residence itself.
12. Miriam Gonzalez Durantez
Sunday, May 24, 8.30pm (11.30pm GST)
The Spanish lawyer, and wife of the UK's former deputy prime minister Nick Clegg, will offer a short talk focused on the "unpaid and undervalued" domestic work that allows families to function but is still not adequately accounted for in the legislation of the European Union.
13. Roddy Doyle
Wednesday, May 27, 7.30pm (10.30pm GST)
The Irish novelist and screenwriter, who won the Booker Prize in 1993 for Paddy Clarke Ha Ha Ha, will host a special preview of his upcoming work, Love. The novel, which is due to be released in June, is centred on two old friends, who meet up in a Dublin restaurant where each reveals a secret that causes them to spend the evening revisiting past memories to discover what really drove them apart.
14. Jim Al Khalili
Thursday, May 28, 4pm (7pm GST)
The Iraq-born physicist, who has been awarded accolades including the Stephen Hawking Medal, will present a sure-to-be mind-bending talk on modern physics. Questions set to be tackled include: "Where does fundamental physics research stand today?" and "Are we closing in on a theory of everything or is the true nature of reality still a mystery?" While they might be big topics, the quantum physicist and author will make them digestible for even the most amateur scientists.
SPECS
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Virtual banks explained
What is a virtual bank?
The Hong Kong Monetary Authority defines it as a bank that delivers services through the internet or other electronic channels instead of physical branches. That means not only facilitating payments but accepting deposits and making loans, just like traditional ones. Other terms used interchangeably include digital or digital-only banks or neobanks. By contrast, so-called digital wallets or e-wallets such as Apple Pay, PayPal or Google Pay usually serve as intermediaries between a consumer’s traditional account or credit card and a merchant, usually via a smartphone or computer.
What’s the draw in Asia?
Hundreds of millions of people under-served by traditional institutions, for one thing. In China, India and elsewhere, digital wallets such as Alipay, WeChat Pay and Paytm have already become ubiquitous, offering millions of people an easy way to store and spend their money via mobile phone. Indonesia, Vietnam and the Philippines are also among the world’s biggest under-banked countries; together they have almost half a billion people.
Is Hong Kong short of banks?
No, but the city is among the most cash-reliant major economies, leaving room for newcomers to disrupt the entrenched industry. Ant Financial, an Alibaba Group Holding affiliate that runs Alipay and MYBank, and Tencent Holdings, the company behind WeBank and WeChat Pay, are among the owners of the eight ventures licensed to create virtual banks in Hong Kong, with operations expected to start as early as the end of the year.
Calls
Directed by: Fede Alvarez
Starring: Pedro Pascal, Karen Gillian, Aaron Taylor-Johnson
4/5
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Name: Brendalle Belaza
From: Crossing Rubber, Philippines
Arrived in the UAE: 2007
Favourite place in Abu Dhabi: NYUAD campus
Favourite photography style: Street photography
Favourite book: Harry Potter
THE SPECS
2020 Toyota Corolla Hybrid LE
Engine: 1.8 litre combined with 16-volt electric motors
Transmission: Automatic with manual shifting mode
Power: 121hp
Torque: 142Nm
Price: Dh95,900
COMPANY%20PROFILE
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SPECS
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Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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.”
US Industrial Market figures, Q1 2017
Vacancy Rate 5.4%
Markets With Positive Absorption 85.7 per cent
New Supply 55 million sq ft
New Supply to Inventory 0.4 per cent
Under Construction 198.2 million sq ft
(Source: Colliers)
RACECARD
4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m
5pm: Jabel Faya – Maiden (PA) Dh60,000 (T) 1,000m
5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m
6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m
6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m
7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m
7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m
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Draw:
Group A: Egypt, DR Congo, Uganda, Zimbabwe
Group B: Nigeria, Guinea, Madagascar, Burundi
Group C: Senegal, Algeria, Kenya, Tanzania
Group D: Morocco, Ivory Coast, South Africa, Namibia
Group E: Tunisia, Mali, Mauritania, Angola
Group F: Cameroon, Ghana, Benin, Guinea-Bissau
Company profile
Name: Steppi
Founders: Joe Franklin and Milos Savic
Launched: February 2020
Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year
Employees: Five
Based: Jumeirah Lakes Towers, Dubai
Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings
Second round raised Dh720,000 from silent investors in June this year
Opening Rugby Championship fixtures: Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)
THE SPECS
Engine: 1.5-litre
Transmission: 6-speed automatic
Power: 110 horsepower
Torque: 147Nm
Price: From Dh59,700
On sale: now