A visitor browses through the display at last year's Festival of Literature.
A visitor browses through the display at last year's Festival of Literature.

The second Emirates Airline Festival of Literature takes off



It is a cliché - that one about rain and pouring - but it seems fitting to describe the country's literary scene of late. Barely have we had a chance to catch our breath after the Abu Dhabi International Book Fair, which finished yesterday, before the action shifts to Dubai, where the Emirates Airline Festival of Literature (EAFL) starts on Wednesday. The lights, it seems, have not dimmed in the authors' green room. The likes of Wilbur Smith, Kate Mosse, Terry Brooks, Brian Aldiss and Philippa Gregory may have been jostling for the microphone in 2009, but a no less stellar guest list has been lined up for the festival's second year. And with a greatly expanded programme of events, including author talks, workshops and Arabic-interest events as well as a significantly larger offering for children, the EAFL is well on its way to establishing itself as a beacon in the UAE's cultural scene.

Happily, the ripples of controversy caused by Margaret Atwood's withdrawal last year (a misunderstanding over the supposed banning of The Gulf Between Us, a Gulf-based romance by the British author Geraldine Bedell) are nowhere to be seen this time around. It wouldn't be a literary festival, though, without a few incendiary sparks, considerately provided by the British author Martin Amis. Undoubtedly the festival's biggest draw, his recent novel The Pregnant Widow has been described by critics as "a return to form" (a comment that prompted a typically indignant response in a recent interview with the British newspaper The Guardian. "What's this 'return ----'?" barked Amis. "He never went away.") An opportunity to hear him speak - unmissable considering the political firecrackers that tend to trip from his tongue - will present itself on Wednesday at 8.30pm when the author will be in conversation with Paul Blezard. Attending with Amis will be his wife, the American-Urugyan author Isabel Fonseca, whose first novel, Attachment, was published in 2008.

Another huge coup for the festival is the Indian author Amit Chaudhuri. Fresh from the Abu Dhabi International Book Fair, the composer, musician and author of five acclaimed novels will give a concert, pointedly titled This Is Not Fusion (it combines elements of jazz, blues, rock, techno and Indian popular song) on Friday at 7pm. Then at 4pm on Saturday will be Words & Music, a session in which he will discuss his love of music and its relationship with words with the author Alexander McCall Smith.

McCall Smith is unrivalled in his ability to churn out enjoyable books in the time it takes you to say "The No 1 Ladies Detective Agency". His hugely popular series, set in Botswana detailing the adventures of the charmingly rotund sleuth Precious Ramotswe, has now reached 10 volumes since the first instalment was published in 1998. And then there are his other series: The 2½ Pillars of Wisdom, The Sunday Philosophers Club and his extensive back catalogue of children's books. Somehow, though, the author, who was born in what is now Zimbabwe and is also a foremost authority on medical law, has found time to attend the EAFL. Hear him in conversation at 5.30pm on Thursday.

Those with a penchant for crime of a slightly grittier nature will be well-catered for, too: some of the genre's most prolific authors, including Mark Billingham, Jeffrey Deaver and Roger Jon Ellory, will be here to give their twopences-worth. Billingham's series of novels featuring Detective Inspector Tom Thorne have won him a loyal following in his native UK as well as abroad. Deaver, a lawyer-turned-crime-writer, has continually topped best-seller lists with his intricately constructed crime novels. And Ellory's work has been nominated for numerous awards, most notably 2007's A Quiet Belief in Angels, which not only received the Barry Award for Best British Crime Fiction Novel of 2008, but was also doused in the publishing fairy dust that is the Richard and Judy Book Club. Hear the three of them discuss the vagaries of crime fiction at the Crime Writers' Panel on Thursday at 4pm.

Other authors to catch are Tim Butcher, whose brilliant Blood River: A Journey to Africa's Broken Heart described his epic journey through Congo in 2004; Kate Adie and John Simpson, who will both be recounting anecdotes from their careers as war correspondents; and the queen of the gothic mystery, Kate Mosse, who is back at the EAFL for the second year. Yann Martel will also be discussing how to follow up on the huge success of his 2002 Man Booker Prize-winning novel in a session titled Life After Pi on Friday at 8pm.

The bill of writers from the East is no less illustrious. At 5pm on Friday, the Pakistani author Imran Ahmad, whose Unimagined: A Muslim Boy Meets the West explores the fractious relationship that developed between the two cultures after the events of September 11, 2001, will be reflecting lightheartedly on the hurdles he faced in getting his book published. Marjane Satrapi, the woman behind the dazzlingly innovative graphic novel Persepolis, which is about her life as a girl in Iran during and after the revolution, will be in conversation with Paul Blezard at 6pm the same day, followed at 6.30 by Vikas Swarup, whose novel Q&A was adapted for the screen as Slumdog Millionaire, discussing the aftermath of success.

More luminaries remain, including Ahdaf Soueif, who wrote The Map of Love, which was shortlisted for the Man Booker Prize in 1999; the Iraqi poet Fadhil al-Azzawi and Leila Abouleila, the Sudanese author and Abu Dhabi resident whose work has been nominated for several international awards, including the Orange and IMPAC prizes. Also in attendance will be both this year's winner of the International Prize for Arabic Fiction (the so-called "Arabic Booker"), the Saudi Arabian Abdo Khal, and last year's, the Egyptian Youssef Zeidan.

But the EAFL is not just about the best-seller lists: a selection of writers from Beirut 39, a coalition of 39 of the Arab world's best new writers, will discuss the innovative writing project at a discussion on Saturday at 4pm. And then, of course, there is the children's programme, which has been tripled in size following feedback from last year's festival. The main attraction here is Jacqueline Wilson, the monumentally successful children's author who can be credited with shifting teenage girls' fiction about as far as is imaginably possible from four young friends and their dog (think titles such as Falling Apart, Making Hate and Truth or Dare). She will be discussing her work and its themes on Saturday at 11.30am.

Worth catching are Oliver Jeffers, the writer and illustrator of such modern classics as Lost and Found and How to Catch a Star, who will be holding a drawing and storytelling workshop on Saturday at 1pm, and Darren Shan, whose first children's book, Cirque du Freak, was a huge critical success. Also on the bill will be Conn Iggulden, who, with his brother Hal, wrote The Dangerous Book for Boys and unleashed a publishing phenomenon.

The Emirates Airline Festival of Literature runs from Wednesday to Saturday at the Intercontinental Hotel, Dubai Festival City. For tickets and more information go to www.emirateslitfest.com.

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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.”

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Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
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Company profile

Date started: December 24, 2018

Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer

Based: Dubai Media City

Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)

Sector: ConsumerTech and FinTech

Cashflow: Almost $1 million a year

Funding: Series A funding of $2.5m with Series B plans for May 2020

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution