More than a million visitors attended this year’s Sharjah book fair. Courtesy Sharjah International Book Fair
More than a million visitors attended this year’s Sharjah book fair. Courtesy Sharjah International Book Fair

More than a million turn out for Sharjah International Book Fair 2014



The 33rd edition of the Sharjah International Book Fair concluded with a new record of more than a million visitors attending the 11-day event at the Expo Centre Sharjah. The fair wound down with another weekend of programmes packed with regional and international authors appearing in panel conversations, speeches and a self-help session by the Indian literary giant Chetan Bhagat.

Ahlem Mosteghanemi defends Arabic

Ahlem Mosteghanemi is known for her uncompromising prose in both her novels and poetry. The Algerian was on fine form on Thursday at a packed session in The Ballroom. The 61-year-old delivered a stirring one-hour address, where she spoke of her passion for the Arabic language and decried its present lack of respect in consumer circles. “Our first challenge is to return to the Arabic language,” she said. “It is the language of my heart. It lies as the foundation of my world view. In all the years I have lived and written, I still don’t know a better way to say I love you than in Arabic.”

A good story creates its own world

The fellow Algerian writer Yasmina Khadra (real name Mohammed Moulessehoul) shared a different opinion than that of Mosteghanemi. The author of acclaimed French novels such as The Swallows of Kabul and The Attack, which have been translated into English, Khadra – who initially used a pseudonym to avoid military censorship in his homeland – said the story is what matters, as opposed to the language in which it is delivered. "I don't want to say any names, but there was an Arab writer here who chastised me the other day saying as an Arab I should write in Arabic," he recalled. "I said: 'Does it matter, if many people in the Arab world are reading my books and are in turn inspired to write?' "

In his Thursday session titled The Pathway to the World: New Prospects in The Novel, Khadra spoke of how a good story can create a new world for the reader. “When I am writing, it is a fully immersive experience,” he said. “Some novelists like to have some distance from their characters. I am the opposite. I like to be in the heart of the character, to see and feel what they feel. Even when I write about youth, I can still be inside them because I was once young like them.”

Changing the game

In a session that rivalled the buzz created by Dan Brown in the opening days of the fair, the Indian novelist Bhagat spoke to more than 2,500 fans in The Ballroom on Friday. Bhagat returned to the Sharjah Book Fair to launch his latest novel Half Girlfriend and deliver a self-help lecture. Using PowerPoint slides and quotes from Charles Darwin, Bhagat urged the audience to "change the game" and "think big". Bhagat also dedicated some time to addressing his critics who slam the literary quality of his novels. "Look, I know I am not the best writer in the world," he said. "But I am happy to be one of the most-read in India. I want to reach the maximum amount of Indian readers and influence them towards a more progressive society."

The festival will get bigger and better

Despite the record number of visitors, the festival director Ahmed Al Ameri said there is always room for improvement. “We will only get better and that’s because we work under the direct guidance of Dr Sheikh Sultan bin Mohammed Al Qasimi, the Ruler of Sharjah,” he said. “Every day he is on the phone with me asking how the fair is going and giving me and the whole team advice on how to proceed and make the fair stronger.”

Speaking of challenges, Al Ameri says this year a few book retailers engaged in price gouging. “We did eject a few publishers because they were selling books at unacceptable prices,” he says. “One of the books was being sold for Dh500, which shouldn’t be the case.” As well as promising a new system to regulate book prices at next year’s book fair, Al Ameri says visitors should expect more big-name authors and innovative sessions to be part of the 34th edition. But first, the maintenance crew of the Expo Centre Sharjah have some work to do as part of the clean up from this year’s event. “We had so many people this year that we have some cracks in the tiles,” says Al Ameri. “That’s just amazing.”

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

Tips for taking the metro

- set out well ahead of time

- make sure you have at least Dh15 on you Nol card, as there could be big queues for top-up machines

- enter the right cabin. The train may be too busy to move between carriages once you're on

- don't carry too much luggage and tuck it under a seat to make room for fellow passengers

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Captain Marvel

Director: Anna Boden, Ryan Fleck

Starring: Brie Larson, Samuel L Jackson, Jude Law,  Ben Mendelsohn

4/5 stars

U19 WORLD CUP, WEST INDIES

UAE group fixtures (all in St Kitts)
Saturday 15 January: v Canada
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

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Tips for newlyweds to better manage finances

All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.

Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.

Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.

Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.

Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.

Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.

The Penguin

Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz

Creator: Lauren LeFranc

Rating: 4/5

The specs
Engine: 2.5-litre, turbocharged 5-cylinder

Transmission: seven-speed auto

Power: 400hp

Torque: 500Nm

Price: Dh300,000 (estimate)

On sale: 2022 

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What is tokenisation?

Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets. 

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.”