After the television blockbuster season that is Ramadan, dramatic action moves take over the big screen during Eid Al Fitr.
The holiday is traditionally a period where a flurry of high-profile films are released from the Middle East, India and Pakistan, catering primarily to a family audience.
This year is no different, with titles offering plenty of action, drama and comedy. Here is our pick of what to watch.
1. Harley
Mohamed Ramadan is firing on all fronts.
In addition to starring in the popular Ramadan television drama Gaafar El Omda and releasing new song Come Baby Come, the Egyptian actor and rapper can now be seen on the big screen.
Harley is an action spectacle — in it, Ramadan plays the title character, a fresh university graduate who lends his transportation skills to a powerful Egyptian criminal gang.
Despite the riches and a flashy new lifestyle, Harley eventually realises he got more than what he bargained for.
2. Kisi Ka Bhai Kisi Ki Jaan
For his first Eid film in four years, Salman Khan returns with a big budget remake of the 2014 Tamil film Veeram.
In the action drama, Khan takes on the role of Bhaijaan, a self-defence trainer from a tight-knit family who is fond of using his fists when settling neighbourhood disputes.
His skills and wits are put to the test as he attempts to save his relatives from a rival family, including his love interest Bhagya (Pooja Hegde).
3. The Legend of Maula Jatt
Re-released globally for Eid Al Fitr, the 2022 action feature is Pakistan’s highest grossing film of all time, amassing $13.8 million worldwide on 500 screens, according to Box Office Mojo.
Starring Fawad Khan and Mahira Khan, the film is a reboot of the 1970 film Maula Jatt and tells the story of a rivalry between local folk hero Maula Jatt (Fawad Khan) and arch nemesis Noori Natt (Hamza Abbasi), a leader of a brutal clan.
Star Cinemas at Al Ghurair Centre in Dubai and Grand Mall in Ajman will screen the film with 10am showings in Dubai or 9pm showings in Ajman.
It will be available to watch on the big screen until Wednesday.
4. Ibn El Hajj Ahmad
Egyptian comedic actor Chico plays Ahmad, who discovers his father, a grocery store owner, was previously a government super spy.
When a shadowy organisation also learns of this, Ahmad's quiet suburban life turns upside down as he attempts to save his father from assassins.
5. Ramsis Paris
Lebanese popstar Haifa Wehbe joins a sprawling cast in this globe-trotting action film.
The film follows a group of friends who discover a magic spell that allows them to travel the world undetected and steal priceless items from museums, including in the Louvre in Paris.
6. Money Back Guarantee
One of the most anticipated Eid Al Fitr films to come from Pakistan, former cricket champion Wasim Akram joins an ensemble cast in this flashy heist caper.
Money Back Guarantee follows a group of desperate friends planning to rob a bank to pay off their debts.
7. Ba'ed El Shar
Popular Egyptian actors Bayoumi Fouad and Ali Rabee star in this romantic comedy.
The film follows love struck Sully, who leaves his wife after falling in love with Mariam. A mysterious spell is cast on Mariam, however, rendering all of Sully's efforts to woo here hilariously ineffective.
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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Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
