• Ben Affleck and Jennifer Lopez on the set of 'Jersey Girl' in New York in November 2002. AFP
    Ben Affleck and Jennifer Lopez on the set of 'Jersey Girl' in New York in November 2002. AFP
  • In November 2002, Ben Affleck proposed to Jennifer Lopez with a 6.10-carat fancy intense pink diamond from Harry Winston. Getty Images
    In November 2002, Ben Affleck proposed to Jennifer Lopez with a 6.10-carat fancy intense pink diamond from Harry Winston. Getty Images
  • Jennifer Lopez and Ben Affleck pictured after her performance on NBC's 'Today Show' in New York in December 2002. Reuters
    Jennifer Lopez and Ben Affleck pictured after her performance on NBC's 'Today Show' in New York in December 2002. Reuters
  • Jennifer Lopez and Ben Affleck attend the premiere of 'Maid in Manhattan' in December 2002 in New York. Reuters
    Jennifer Lopez and Ben Affleck attend the premiere of 'Maid in Manhattan' in December 2002 in New York. Reuters
  • Ben Affleck and Jennifer Lopez attend the Sundance Film Festival in January 2003 in Utah. AFP
    Ben Affleck and Jennifer Lopez attend the Sundance Film Festival in January 2003 in Utah. AFP
  • Ben Affleck and Jennifer Lopez attend the premiere of 'Daredevil' in Los Angeles in February 2003. Reuters
    Ben Affleck and Jennifer Lopez attend the premiere of 'Daredevil' in Los Angeles in February 2003. Reuters
  • Jennifer Lopez and Ben Affleck arrive for the 75th annual Academy Awards in Los Angeles in March 2003. AP
    Jennifer Lopez and Ben Affleck arrive for the 75th annual Academy Awards in Los Angeles in March 2003. AP
  • Jennifer Lopez and Ben Affleck attend a Los Angeles Lakers game in California in May 2003. EPA
    Jennifer Lopez and Ben Affleck attend a Los Angeles Lakers game in California in May 2003. EPA
  • Ben Affleck and Jennifer Lopez attend the premiere of their film 'Gigli' in Los Angeles in July 2003. AP
    Ben Affleck and Jennifer Lopez attend the premiere of their film 'Gigli' in Los Angeles in July 2003. AP
  • Jennifer Lopez and Ben Affleck attend the American League Championship Series between the Boston Red Sox and New York Yankees in Boston in October 2003. EPA
    Jennifer Lopez and Ben Affleck attend the American League Championship Series between the Boston Red Sox and New York Yankees in Boston in October 2003. EPA
  • Jennifer Lopez and Ben Affleck pictured in New York in October 2003. Getty Images
    Jennifer Lopez and Ben Affleck pictured in New York in October 2003. Getty Images
  • Jennifer Lopez and Ben Affleck walk the streets of Capri, Italy, during a holiday in July 2021. EPA
    Jennifer Lopez and Ben Affleck walk the streets of Capri, Italy, during a holiday in July 2021. EPA
  • Ben Affleck and Jennifer Lopez are spotted at the 78th Venice International Film Festival in September 2021. Getty Images
    Ben Affleck and Jennifer Lopez are spotted at the 78th Venice International Film Festival in September 2021. Getty Images
  • Ben Affleck and Jennifer Lopez arrive at the 78th Venice International Film Festival in September 2021. Getty Images
    Ben Affleck and Jennifer Lopez arrive at the 78th Venice International Film Festival in September 2021. Getty Images
  • Ben Affleck and Jennifer Lopez attend a screening of 'The Last Duel' during the 78th Venice International Film Festival in September 2021 in Venice, Italy. Getty Images
    Ben Affleck and Jennifer Lopez attend a screening of 'The Last Duel' during the 78th Venice International Film Festival in September 2021 in Venice, Italy. Getty Images
  • Ben Affleck and Jennifer Lopez at the 78th Venice International Film Festival in September 2021. The couple has rekindled their relationship 17 years after calling off their engagement. Getty Images
    Ben Affleck and Jennifer Lopez at the 78th Venice International Film Festival in September 2021. The couple has rekindled their relationship 17 years after calling off their engagement. Getty Images
  • Jennifer Lopez and Ben Affleck attend a photo call for a special screening of Lopez's film 'Marry Me' on February 8, 2022. AP Photo
    Jennifer Lopez and Ben Affleck attend a photo call for a special screening of Lopez's film 'Marry Me' on February 8, 2022. AP Photo
  • Jennifer Lopez and Ben Affleck are seen on April 23, 2022 in Los Angeles, California. The pair announced that they were engaged for a second time, in early April. GC Images
    Jennifer Lopez and Ben Affleck are seen on April 23, 2022 in Los Angeles, California. The pair announced that they were engaged for a second time, in early April. GC Images
  • Ben Affleck and Jennifer Lopez married in a small Las Vegas ceremony on July 16, 2022. Getty Images
    Ben Affleck and Jennifer Lopez married in a small Las Vegas ceremony on July 16, 2022. Getty Images

Why Bennifer 2.0 is the Hollywood fairy tale we need


  • English
  • Arabic

Cast your mind back to 2002.

Kelly Clarkson won the first season of American Idol, Vanessa Carlton’s A Thousand Miles was on repeat on the radio, low-rise jeans were all the hipbone-baring rage, and Britney Spears and Justin Timberlake broke up.

But hands down, the cherry on top of the 2002 pop culture cake was the coming together of two of the biggest stars on the planet, Ben Affleck and Jennifer Lopez, aka Bennifer.

Bennifer hit the headlines

Between 2002 and 2004, the first celebrity couple to be so effectively portmanteau’d they created their own gossip cottage industry (beating Brangelina by seven years, and Kimye by 10), Bennifer were the epitome of shiny, glamorous #couplesgoals before goals were even a thing.

There was no Twitter, no Instagram, no Snapchat, TikTok, Reddit nor Discord. If you wanted to gorge yourself on the junk food diet of Hollywood gossip, you turned to celebrity magazines (among which I worked at the time) which sold in their millions, to devour celeb sightings, wardrobe malfunctions and the A-list falling out of the Chateau Marmont.

And Bennifer were the Hollywood royalty ruling those front pages.

Bye-bye Cris, hello Ben

Ben Affleck and Jennifer Lopez's romance became tabloid fodder, and they would later blame 'media attention' for calling off their planned 2003 wedding. AFP
Ben Affleck and Jennifer Lopez's romance became tabloid fodder, and they would later blame 'media attention' for calling off their planned 2003 wedding. AFP

After meeting on the set of 2002’s Gigli, a smitten Affleck would take out full-page ads in trade magazines Variety and The Hollywood Reporter in which he gushed: “I really liked working with her and have been so impressed with her acting skills.”

He said: “I thought I’d write a paragraph saying what a professional, decent person I think she is and how kind she is.”

And if you find yourself thinking 'Why would someone be surprised that their colleague is a decent human being?' then you’ve clearly never spent any time in Hollywood (or writing about / obsessing over it, like I have).

Ben and J-Lo were open about their relationship at her July 24 birthday party, and two days later she filed for divorce from husband number two, back-up dancer Cris Judd, after eight months of marriage.

'Rumours (don’t) got me laughing, kid'

In the music video for 'Jenny From The Block', Ben Affleck was ridiculed for playing J-Lo's doting boyfriend. Lopez would later try to remove the video from MTV and VH1 playlists. Photo: Epic Records
In the music video for 'Jenny From The Block', Ben Affleck was ridiculed for playing J-Lo's doting boyfriend. Lopez would later try to remove the video from MTV and VH1 playlists. Photo: Epic Records

It’s horribly Hollywood that something so good should have been the catalyst for something so bad, in this case the beginning of the end of Bennifer. And the looming spectre of love gone wrong came in the shape of the music video for Jennifer’s November 2002 hit, Jenny From The Block.

If the lyrics of which — while admittedly lacking a certain self-awareness on J-Lo’s part — created an era-defining bop, it was the video that truly lodged itself into the collective pop-culture consciousness.

Giving off big meta, art-imitates-life energy, Affleck was filmed filling up Lopez’s car with petrol, worshipping her famous derriere on the deck of a yacht, and helping her find a lost earring.

The tabloids felt this was a step too far, and in a firestorm of misogyny and misandry, Affleck was cast in the real-life role of browbeaten boyfriend reduced to doing nice things for his girlfriend, while Lopez was the boss who had turned one of Hollywood’s leading action men into a simp who liked to do nice things for his girlfriend. Oh, the humanity!

The video would be so inextricably linked to their downfall, that J-Lo tried to get it removed from rotation at both MTV and VH1 in 2004 post-split.

Liz and Dick for the 2020s

The rest of the relationship is Hollywood folklore. The November 2002 engagement, Affleck’s July 2003 visit to a strip club, and the August 2003 critical and commercial failure of Gigli, all culminating in the September 13, 2003, announcement that the wedding would be postponed, for which they blamed “excessive media attention”.

Apparently, Jenny from the block's “everyone’s got to make a living” ethos didn't apply to the media.

Not since Julia Roberts runaway brided Kiefer Sutherland in 1991, just two days before their wedding, running off with his best friend, Jason Patric, had the celebrity wedding industrial complex been so thoroughly rocked.

By January 2004, the pair had split, with J-Lo marrying Marc Anthony five months later, and Affleck launching Bennifer II alongside Jennifer Garner in October.

Now, with Affleck’s sidewalk laughter-fest with Anna DeArnas but a glitch in the Matrix, and Lopez's engagement to Alex Rodriguez called off, Bennifer 2.0 have made their way back to one another.

When, in the name of all that is Liz Taylor and Richard Burton, does this ever happen? And people say fairy tales aren't real.

Celebrities who have married in 2022 — in pictures:

  • Ben Affleck and Jennifer Lopez first married in Las Vegas in June and then again in Georgia on August 20. AP
    Ben Affleck and Jennifer Lopez first married in Las Vegas in June and then again in Georgia on August 20. AP
  • Sheryl Sandberg and her husband Tom Bernthal married on August 20 in a Western-themed wedding in Wyoming, US. Getty / AFP
    Sheryl Sandberg and her husband Tom Bernthal married on August 20 in a Western-themed wedding in Wyoming, US. Getty / AFP
  • Sarah Hyland, left, and Wells Adams married in an outdoor ceremony in California on August 20. Invision / AP
    Sarah Hyland, left, and Wells Adams married in an outdoor ceremony in California on August 20. Invision / AP
  • Rita Ora and New Zealand filmmaker Taika Waititi got married in a secret wedding ceremony on August 8. AP Photo
    Rita Ora and New Zealand filmmaker Taika Waititi got married in a secret wedding ceremony on August 8. AP Photo
  • Kirsten Dunst and Jesse Plemons got married in Jamaica in early July after six years together. Getty Images / AFP
    Kirsten Dunst and Jesse Plemons got married in Jamaica in early July after six years together. Getty Images / AFP
  • Alexandra Daddario and Andrew Form officially tied the knot this June at New Orleans' Preservation Hall. Invision for AMC Networks / AP Images
    Alexandra Daddario and Andrew Form officially tied the knot this June at New Orleans' Preservation Hall. Invision for AMC Networks / AP Images
  • American comedian Aziz Ansari married Danish forensic data scientist Serena Skov Campbell in early June in Tuscany, Italy. Getty / AFP
    American comedian Aziz Ansari married Danish forensic data scientist Serena Skov Campbell in early June in Tuscany, Italy. Getty / AFP
  • Britney Spears wore a Versace gown and Charlotte Tilbury make-up for her wedding to Sam Asghari. Photo: Charlotte Tilbury
    Britney Spears wore a Versace gown and Charlotte Tilbury make-up for her wedding to Sam Asghari. Photo: Charlotte Tilbury
  • South Indian superstar Nayanthara and director Vignesh Shivan on honeymoon in Bangkok, Thailand after their wedding in early June. Photo: Instagram / wikkiofficial
    South Indian superstar Nayanthara and director Vignesh Shivan on honeymoon in Bangkok, Thailand after their wedding in early June. Photo: Instagram / wikkiofficial
  • Actors Ewan McGregor and Mary Elizabeth Winstead tied the knot among friends and family during a low-key outdoor ceremony at their home in the Topanga Canyon area of Los Angeles. AFP
    Actors Ewan McGregor and Mary Elizabeth Winstead tied the knot among friends and family during a low-key outdoor ceremony at their home in the Topanga Canyon area of Los Angeles. AFP
  • Brooklyn Beckham and Nicola Peltz had a star-studded wedding in April. Getty via AFP
    Brooklyn Beckham and Nicola Peltz had a star-studded wedding in April. Getty via AFP
  • Jack White and Olivia Jean married in an impromptu ceremony onstage in Detroit in April. Photo: Jack White / Instagram
    Jack White and Olivia Jean married in an impromptu ceremony onstage in Detroit in April. Photo: Jack White / Instagram
  • Kourtney Kardashian and Travis Barker had a wedding in Las Vegas after the Grammys 2022 awards in April. Getty via AFP
    Kourtney Kardashian and Travis Barker had a wedding in Las Vegas after the Grammys 2022 awards in April. Getty via AFP
  • 'Harry Potter' star Bonnie Wright married Andrew Lococo in California in March. Photo: Bonnie Wright / Instagram
    'Harry Potter' star Bonnie Wright married Andrew Lococo in California in March. Photo: Bonnie Wright / Instagram
  • South Korean actors Son Ye-jin and Hyun Bin (born Kim Tae-pyung) married in March. Getty
    South Korean actors Son Ye-jin and Hyun Bin (born Kim Tae-pyung) married in March. Getty
  • Dubai radio presenter Kris Fade married long-term partner Brianna Ramirez in a lavish ceremony at The Ritz-Carlton, Dubai, at Jumeirah Beach Residence in March. Photo: Facebook
    Dubai radio presenter Kris Fade married long-term partner Brianna Ramirez in a lavish ceremony at The Ritz-Carlton, Dubai, at Jumeirah Beach Residence in March. Photo: Facebook
  • Jon Batiste and Suleika Jaouad revealed in April that they had secretly married in February. Getty via AFP
    Jon Batiste and Suleika Jaouad revealed in April that they had secretly married in February. Getty via AFP
  • Bollywood star Farhan Akhtar and Shibani Dandekar got married in Khandala, India, in February. Photo: ShibaniDandekar / Instagram
    Bollywood star Farhan Akhtar and Shibani Dandekar got married in Khandala, India, in February. Photo: ShibaniDandekar / Instagram
  • Mona Kattan and Hassan Elamin wed in Dubai on Twosday, or 22/2/2022. Photo: Mona Kattan / Instagram
    Mona Kattan and Hassan Elamin wed in Dubai on Twosday, or 22/2/2022. Photo: Mona Kattan / Instagram
  • Bollywood actress Mouni Roy married businessman Suraj Nambiar, who lives in the UAE, in a traditional South Indian ceremony at a Goa resort in January. AFP
    Bollywood actress Mouni Roy married businessman Suraj Nambiar, who lives in the UAE, in a traditional South Indian ceremony at a Goa resort in January. AFP
  • 'Orange Is the New Black' star Danielle Brooks married Dennis Gelin in a January ceremony in Miami, Florida. Photo: Danielle Brooks / Instagram
    'Orange Is the New Black' star Danielle Brooks married Dennis Gelin in a January ceremony in Miami, Florida. Photo: Danielle Brooks / Instagram
  • American actress Ricki Lake wed third husband Ross Burningham in January in an 'intimate' ceremony at their home. Photo: Ricki Lake / Instagram
    American actress Ricki Lake wed third husband Ross Burningham in January in an 'intimate' ceremony at their home. Photo: Ricki Lake / Instagram
MATCH INFO

Sheffield United 0 Wolves 2 (Jimenez 3', Saiss 6)

Man of the Match Romain Saiss (Wolves)

Results

5pm: Reem Island – Conditions (PA) Dh80,000 (Turf) 1,600m; Winner: Farasah, Antonio Fresu (jockey), Musabah Al Muhairi

5.30pm: Sir Baniyas Island – Maiden (PA) Dh80,000 (T) 1,400m; Winner: SSR Ghazwan, Antonio Fresu, Ibrahim Al Hadhrami

6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,400m; Winner: Astral Del Sol, Sean Kirrane, Ibrahim Al Hadhrami

6.30pm: Al Maryah Island – Maiden (PA) Dh80,000 (T) 2,200m; Winner: Toumadher, Dane O’Neill, Jaber Bittar

7pm: Yas Island – Handicap (PA) Dh80,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel

7.30pm: Saadiyat Island – Handicap (TB) Dh80,000 (T) 2,400m; Winner: Celestial Spheres, Gary Sanchez, Ismail Mohammed

TOP%2010%20MOST%20POLLUTED%20CITIES
%3Cp%3E1.%20Bhiwadi%2C%20India%0D%3Cbr%3E2.%20Ghaziabad%2C%20India%0D%3Cbr%3E3.%20Hotan%2C%20China%0D%3Cbr%3E4.%20Delhi%2C%20India%0D%3Cbr%3E5.%20Jaunpur%2C%20India%0D%3Cbr%3E6.%20Faisalabad%2C%20Pakistan%0D%3Cbr%3E7.%20Noida%2C%20India%0D%3Cbr%3E8.%20Bahawalpur%2C%20Pakistan%0D%3Cbr%3E9.%20Peshawar%2C%20Pakistan%0D%3Cbr%3E10.%20Bagpat%2C%20India%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%20IQAir%3C%2Fem%3E%3C%2Fp%3E%0A
Suggested picnic spots

Abu Dhabi
Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
Zayed Sports City
 
Dubai
Kite Beach
Zabeel Park
Al Nahda Pond Park
Mushrif Park
Safa Park
Al Mamzar Beach Park
Al Qudrah Lakes 

Profile

Company name: Jaib

Started: January 2018

Co-founders: Fouad Jeryes and Sinan Taifour

Based: Jordan

Sector: FinTech

Total transactions: over $800,000 since January, 2018

Investors in Jaib's mother company Alpha Apps: Aramex and 500 Startups

Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ENadeera%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ERabih%20El%20Chaar%20and%20Reem%20Khattar%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3ECleanTech%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%3C%2Fstrong%3E%20About%20%241%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EHope%20Ventures%2C%20Rasameel%20Investments%20and%20support%20from%20accelerator%20programmes%20%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2012%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Dresos%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20September%202020%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Vladimir%20Radojevic%20and%20Aleksandar%20Jankovic%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Fashion%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%24285%2C000%3B%20%24500%2C000%20currently%20being%20raised%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Crowdfunding%2C%20family%2C%20friends%20and%20self-funding%3C%2Fp%3E%0A
LA LIGA FIXTURES

Friday (UAE kick-off times)

Levante v Real Mallorca (12am)

Leganes v Barcelona (4pm)

Real Betis v Valencia (7pm)

Granada v Atletico Madrid (9.30pm)

Sunday

Real Madrid v Real Sociedad (12am)

Espanyol v Getafe (3pm)

Osasuna v Athletic Bilbao (5pm)

Eibar v Alaves (7pm)

Villarreal v Celta Vigo (9.30pm)

Monday

Real Valladolid v Sevilla (12am)

 

SPEC%20SHEET%3A%20APPLE%20IPAD%20(2022)
%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2010.9-inch%20Liquid%20Retina%20IPS%20LCD%2C%202%2C360%20x%201%2C640%2C%20264ppi%2C%20wide%20colour%2C%20True%20Tone%2C%20Apple%20Pencil%201%20support%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EChip%3A%3C%2Fstrong%3E%20Apple%20A14%20Bionic%2C%206-core%20CPU%2C%204-core%20GPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStorage%3A%3C%2Fstrong%3E%2064GB%2F256GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPlatform%3A%3C%2Fstrong%3E%20iPadOS%2016%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20camera%3A%3C%2Fstrong%3E%2012-megapixel%20wide%2C%20f%2F1.8%2C%205x%20digital%2C%20Smart%20HDR%203%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%204K%20%40%2024%2F25%2F30%2F60fps%2C%20full%20HD%20%40%2025%2F30%2F60fps%2C%20slo-mo%20%40%20120%2F240fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFront%20camera%3A%3C%2Fstrong%3E%2012MP%20ultra-wide%2C%20f%2F2.4%2C%202x%2C%20Smart%20HDR%203%2C%20Centre%20Stage%3B%20full%20HD%20%40%2025%2F30%2F60fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%20Stereo%20speakers%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBiometrics%3A%3C%2Fstrong%3E%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20USB-C%2C%20smart%20connector%20(for%20folio%2Fkeyboard)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%20Up%20to%2010%20hours%20on%20Wi-Fi%3B%20up%20to%209%20hours%20on%20cellular%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFinish%3A%3C%2Fstrong%3E%20Blue%2C%20pink%2C%20silver%2C%20yellow%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20iPad%2C%20USB-C-to-USB-C%20cable%2C%2020W%20power%20adapter%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20Wi-Fi%20%E2%80%94%20Dh1%2C849%20(64GB)%20%2F%20Dh2%2C449%20(256GB)%3B%20cellular%20%E2%80%94%20Dh2%2C449%20(64GB)%20%2F%20Dh3%2C049%20(256GB)%3C%2Fp%3E%0A
Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 

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.”

BUNDESLIGA FIXTURES

Friday (UAE kick-off times)

Borussia Dortmund v Paderborn (11.30pm)

Saturday 

Bayer Leverkusen v SC Freiburg (6.30pm)

Werder Bremen v Schalke (6.30pm)

Union Berlin v Borussia Monchengladbach (6.30pm)

Eintracht Frankfurt v Wolfsburg (6.30pm)

Fortuna Dusseldof v  Bayern Munich (6.30pm)

RB Leipzig v Cologne (9.30pm)

Sunday

Augsburg v Hertha Berlin (6.30pm)

Hoffenheim v Mainz (9pm)

 

 

 

 

 

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

Sun jukebox

Rufus Thomas, Bear Cat (The Answer to Hound Dog) (1953)

This rip-off of Leiber/Stoller’s early rock stomper brought a lawsuit against Phillips and necessitated Presley’s premature sale to RCA.

Elvis Presley, Mystery Train (1955)

The B-side of Presley’s final single for Sun bops with a drummer-less groove.

Johnny Cash and the Tennessee Two, Folsom Prison Blues (1955)

Originally recorded for Sun, Cash’s signature tune was performed for inmates of the titular prison 13 years later.

Carl Perkins, Blue Suede Shoes (1956)

Within a month of Sun’s February release Elvis had his version out on RCA.

Roy Orbison, Ooby Dooby (1956)

An essential piece of irreverent juvenilia from Orbison.

Jerry Lee Lewis, Great Balls of Fire (1957)

Lee’s trademark anthem is one of the era’s best-remembered – and best-selling – songs.

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

The cost of Covid testing around the world

Egypt

Dh514 for citizens; Dh865 for tourists

Information can be found through VFS Global.

Jordan

Dh212

Centres include the Speciality Hospital, which now offers drive-through testing.

Cambodia

Dh478

Travel tests are managed by the Ministry of Health and National Institute of Public Health.

Zanzibar

AED 295

Zanzibar Public Health Emergency Operations Centre, located within the Lumumba Secondary School compound.

Abu Dhabi

Dh85

Abu Dhabi’s Seha has test centres throughout the UAE.

UK

From Dh400

Heathrow Airport now offers drive through and clinic-based testing, starting from Dh400 and up to Dh500 for the PCR test.

Updated: April 11, 2022, 10:16 AM