Mahaakshay - son of the disco legend Mithun Chakraborty and the gorgeous Yogita Bali. AFP
Mahaakshay - son of the disco legend Mithun Chakraborty and the gorgeous Yogita Bali. AFP

Six Bollywood star kids who didn’t deliver



1. Esha Deol - daughter of yesteryear poster boy Dharmendra and 'Dream Girl' Hema Malini. She bears a striking resemblance to her beautiful mother, but that's about it, really

2. Mahaakshay - son of the disco legend Mithun Chakraborty and the gorgeous Yogita Bali. Mahaakshay was launched in a film titled Jimmy (named after Mithun's character in the 1981 hit Disco Dancer). It was a *maha-flop (*Maha means 'super')

3. Rinke Khanna - daughter of superstar Rajesh Khanna and 1970s siren Dimple Kapadia. Rinke's sister Twinkle just about managed an acting career in Bollywood, eventually marrying top dog Akshay Kumar. As for Rinke, last we heard, she was dabbling in candle-making

4. Uday Chopra - brother of producer Aditya Chopra and son of the legendary filmmaker, the late Yash Chopra. Uday is best known for his role in the Dhoom franchise as the singularly annoying Ali, sidekick of police officer Jai (played by Abhishek Bachchan, who'll soon find himself on this list if he doesn't make some intelligent career choices pronto). Uday, what if they don't make any more Dhoom movies? Something to chew on, we think

5. Tusshar Kapoor - son of the groovy Jumpin' Jack Jeetendra (so named because of his energetic - some might say alarming - dance style). His sister Ekta is a successful television producer, but Tusshar has a thing for starring in mindless comedies. Examples are the Golmaal films, which probably did so well because he doesn't have any lines in either

6. Rajeev Kapoor - son of one of Bollywood's founding fathers, Raj Kapoor, and uncle to current heartthrob Ranbir Kapoor. OK, we've cheated a bit here because Rajeev's star burnt out way back, but his was a particularly dismal career. Well, except for the film Ram Teri Ganga Maili (1985) - but now, of course, you're thinking of Mandakini in that infamous bathing-under-waterfall sequence. What a legacy to be stuck with, Rajeev

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COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Points classification after Stage 4

1. Arnaud Demare (France / FDJ) 124

2. Marcel Kittel (Germany / Quick-Step) 81

3. Michael Matthews (Australia / Sunweb) 66

4. Andre Greipel (Germany / Lotto) 63

5. Alexander Kristoff (Norway / Katusha) 43

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The details

Colette

Director: Wash Westmoreland

Starring: Keira Knightley, Dominic West

Our take: 3/5

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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

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now

Racecard

2pm Handicap Dh 90,000 1,800m

2.30pm Handicap Dh120,000 1,950m

3pm Handicap Dh105,000 1,600m

3.30pm Jebel Ali Classic Conditions Dh300,000 1,400m

4pm Maiden Dh75,000 1,600m

4.30pm Conditions Dh250,000 1,400m

5pm Maiden Dh75,000 1,600m

5.30pm Handicap Dh85,000 1,000m

 

The National selections:

2pm Arch Gold

2.30pm Conclusion

3pm Al Battar

3.30pm Golden Jaguar

4pm Al Motayar

4.30pm Tapi Sioux

5pm Leadership

5.30pm Dahawi