A taciturn Arab writer heads to a remote area in the north of Germany, contemplating suicide. It might not sound very cheery, but that’s one way of summarising Yunan, which was unveiled at this year’s Berlin Film Festival. It’s the only Arab-led film in main competition, although we never get to learn where Munir (Lebanese actor Georges Khabbaz) comes from. It was a deliberate move by the film’s young writer-director Ameer Fakher Eldin. “I wanted to focus on his psychological journey to make it even more universal,” he tells The National.
Nevertheless, there’s no doubt that this story about displacement is a deeply personal one. “It’s very much my reality,” the filmmaker explains. He was raised in the Golan Heights, once a Syrian region, which has been under Israeli occupation for more than 50 years. “My parents are Syrian, but we cannot go to Syria.” To complicate matters, he was born in 1991 in Kyiv, Ukraine, where his parents were studying medicine. “We didn’t stay long, because after the fall of the Soviet Union, it was very hard to live there. So they came back to the Golan Heights.”
Like so many, his idea of home has become very skewed, maybe even a romantic illusion. “I have nothing to remember from Syria as a homeland, but it is my homeland. But what do I fantasise about? I kind of fantasise about a magical homeland that I never even knew.”
Displacement is not only geographical, but emotional, which may account for the film’s parable-like feel. In the film, Munir’s mother has Alzheimer’s and is beginning to forget her son. “The figure of the mother could be for me, in a sense, Syria,” the director adds. “Syria forgot about me.”
A co-production, with financing from Palestine, Qatar, Jordan and Saudi Arabia, among others, Yunan is easily the most dramatic-looking film of this year’s Berlinale selection. Much of this has to do with its stunning locale, Langeness, in Schleswig-Holstein. This is not an island, we learn, but a “hallig”, land that can become flooded. “Even Germans don’t know about this place,” says Fakher Eldin, who says it’s like going “to the edge of the world”. With its marginalised, conservative locals, it’s the perfect backdrop for a story about “the importance of how we should stop looking at others as threats”.
At its heart are two terrific performances, from Khabbaz and Hanna Schygulla, who plays Valeska, who owns a small boarding house and shows Munir kindness when he arrives without a room in Langeness. “Georges is an incredible actor,” says the director. “He’s a great artist and a super sensitive soul and very intelligent. He usually does more comedy, black comedy and he’s great at that. And I was thinking, ‘Okay, I’m really looking for a character that has sad eyes'.
"And he always wears these glasses. In one interview I saw with him without them. I said, ‘Wow.’ It was like he’s hiding. So I said, ‘You're gonna be without these glasses for the film'.”
Schygulla, now 81 years-old, is the beloved German actress famed for her collaborations with director Rainer Werner Fassbinder (she won Best Actress in Berlin for 1979’s The Marriage of Maria Braun). Fakher Eldin sent a hand-written note to her home in Paris. She agreed to meet and they spent time in a cafe in Paris, when he had a moment of dizziness. Fakher Eldin had been suffering from breathing problems, despite receiving a clean bill of health from his doctor. Was it stress? Or depression? A panic attack? Whatever the truth, he began to feel a shortness of breath in front of Schygulla.
“She noticed and she put her hand on my hand, and she told me, ‘Maybe you don’t need that much air'. I said, ‘Wow.’ I mean, I don’t know the woman. I mean, she’s a legend, of course, and she allows herself to be kind and to be motherly. She cared for my soul, without the need to know me so much, because she believes in that. I thought this is perfect for the role.”
It also plays out like this in the film, as Valeska calms Munir, with Schygulla delivering a warm, touching performance.
Yunan is also the second part of a trilogy. The first, Fakher Eldin’s feature debut, 2021’s The Stranger, dealt with an unlicensed doctor in Golan Heights who encounters a wounded solider from the war in Syria. If that was a film “about a man who feels a stranger among his own people”, Yunan is more about a “stranger amongst other strangers," he adds. “My characters are victims. I’m treating them also as victims of national crisis or wars.”
But victim is such a negative term. His planned third part will be different, he promises. “I want to actually stop looking as them as victims.”
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
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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Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
The biog
Hometown: Cairo
Age: 37
Favourite TV series: The Handmaid’s Tale, Black Mirror
Favourite anime series: Death Note, One Piece and Hellsing
Favourite book: Designing Brand Identity, Fifth Edition
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially