Sharjah will be the guest of honour at the 2022 Bologna Children’s Book Fair.
Running from March 21 to March 24 in the northern Italian city, the event is one of the largest such events dedicated to international children's literature.
In addition to a large pavilion run by the Sharjah Book Authority (SBA), a delegation of 10 Emirati children’s and young adult fiction authors and illustrators will appear at the festival for book signings and panel discussions.
Some of those making the trip include authors Noura Al Noman and Dubai Abulhoul, illustrator Marwa Obeid and academic Reem Al Gurg.
Italian-translated books by Emirati authors will be launched at the fair, in addition to a range of workshops and networking sessions featuring UAE and international publishers.
According to SBA chairman Ahmed Al Ameri, Sharjah’s standing as guest of honour is a testament to the emirate’s investment in children's literature.
He cites the success of publishing house Kalimat Group, launched in 2007 and run by International Publishers Association president Bodour Al Qasimi, for raising standards and stimulating demand for the genre across the region.
“There has been an impressive growth in this sector as several new publishing houses for children’s books have opened across the region,” he said.
Book fairs back on track
The news comes as more international and regional book fairs return with in-person activities.
The world's biggest book fair, Germany's Frankfurter Buchmesse, announced its return from Wednesday, October 20 to Sunday, October 24. While it ran a digital-only programme in 2020, this year's fair will feature a hybrid blend of online and physical events at the Frankfurt Trade Fair Grounds.
This month, the Cairo International Book Fair will take place from Wednesday, June 30 to Thursday, July 15 at the Egypt International Exhibition Centre.
Jordan's Amman International Book Fair is also back on this year's calendar.
The annual event, which cancelled its 2020 programme because of the pandemic, will run from Wednesday, September 22 to Saturday, October 2 within the halls of Amman International Motor Show.
Meanwhile, in March, Saudi Arabia's Minister of Culture Prince Badr bin Abdullah bin Farhan announced on Twitter that the Riyadh International Book Fair will take place from Friday, October 1 to Sunday, October 10.
Both the Abu Dhabi and the Sharjah book fairs ran safe and successful events in May this year and last November, respectively.
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Read more:
Where books matter: The Abu Dhabi International Book Fair is a haven for UAE culture lovers
'From Women to the World': powerful letters by female Arab activists among new anthology
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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.”
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
Zayed Sustainability Prize
500 People from Gaza enter France
115 Special programme for artists
25 Evacuation of injured and sick
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
