Gordon Lightfoot performs during the evening ceremonies of Canada's 150th anniversary of Confederation, in Ottawa, Ontario, on July 1, 2017. The legendary folk singer-songwriter, whose hits including “Early Morning Rain,” and “The Wreck of the Edmund Fitzgerald," told a tale of Canadian identity that was exported worldwide, died on Monday, May 1, 2023, at a Toronto hospital, according to a family representative. He was 84. (Sean Kilpatrick / The Canadian Press via AP)
Gordon Lightfoot performs during the evening ceremonies of Canada's 150th anniversary of Confederation, in Ottawa, Ontario, on July 1, 2017. The legendary folk singer-songwriter, whose hits including “Early Morning Rain,” and “The Wreck of the Edmund Fitzgerald," told a tale of Canadian identity that was exported worldwide, died on Monday, May 1, 2023, at a Toronto hospital, according to a family representative. He was 84. (Sean Kilpatrick / The Canadian Press via AP)
Gordon Lightfoot performs during the evening ceremonies of Canada's 150th anniversary of Confederation, in Ottawa, Ontario, on July 1, 2017. The legendary folk singer-songwriter, whose hits including “Early Morning Rain,” and “The Wreck of the Edmund Fitzgerald," told a tale of Canadian identity that was exported worldwide, died on Monday, May 1, 2023, at a Toronto hospital, according to a family representative. He was 84. (Sean Kilpatrick / The Canadian Press via AP)
Gordon Lightfoot performs during the evening ceremonies of Canada's 150th anniversary of Confederation, in Ottawa, Ontario, on July 1, 2017. The legendary folk singer-songwriter, whose hits including

Gordon Lightfoot, Canadian singer-songwriter, dies at 84


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Canadian musician Gordon Lightfoot, the prolific singer-songwriter known for folk-pop hits such as If You Could Read My Mind and The Wreck of the Edmund Fitzgerald, died on Monday in a Toronto hospital. He was 84.

He died of natural causes, his family said.

Known for his evocative lyrics and melodic compositions, Lightfoot received five Grammy nominations over the years and won 17 Juno awards, Canada's equivalent music honour.

He achieved the height of his popularity in the 1970s, with songs from albums such as Sundown, Summertime Dream and Dream Street Rose that built on his guitar-driven folk roots to produce more rock and pop-oriented songs.

He retained a loyal following in Canada and the United States through extensive concert touring.

Lightfoot's catalog of compositions has more than 200 songs, a number of them covered by performers such as Bob Dylan, Elvis Presley, Judy Collins, Barbra Streisand, Glen Campbell and Richie Havens. His For Lovin' Me and Early Morning Rain became a hit for the folk trio Peter, Paul & Mary.

Lightfoot emerged from the folk music movement of the mid-1960s with signature tunes such as Canadian Railroad Trilogy and Pussywillows, Cat-Tails.

In the 1970s, he picked up an electric guitar to pen pop ballads such as Beautiful and I'm Not Supposed to Care.

Lightfoot's 1976 epic, The Wreck of the Edmund Fitzgerald, about the drowning of 29 sailors when a freighter sank in a storm on Lake Superior, remains one of fans' most loved songs.

In it, Lightfoot coupled a soaring melody with poignant lyrics about the sailors' last hours.

He also topped the singles charts with such titles as the wistful 1974 song Carefree Highway and the ballad If You Could Read My Mind, his first major international hit from 1971, about a dissolving marriage.

If You Could Read My Mind launched a successful run at Warner Bros Records, after Lightfoot defected from his previous label, United Artists.

He had been unhappy there in part over a lack of support he felt when many US radio stations banned his 1968 single Black Day in July, about riots in Detroit the previous year, seeing it as too incendiary.

Two other major 1970s hits, Sundown and Rainy Day People, were reportedly inspired by his volatile romance with back-up singer and rock groupie Cathy Smith.

Aside from writing lyrics and music, Lightfoot performed his songs in a warm tenor suited to ballads, though his voice grew thinner over the years and he was known for his clear articulation as a vocalist.

He survived a major health crisis at age 63 in 2002, when he collapsed from severe stomach pain before a concert in his hometown of Orilla, Ontario, and had emergency surgery for abdominal bleeding caused by a ruptured aorta.

He endured weeks of hospitalisation and several operations before returning to the recording studio and live performances.

At the time of his illness, Canadian country singer and admirer Ian Tyson saluted Lightfoot as a national treasure.

"I don't think anybody before or since has, or will have, the impact on Canadian culture, through popular music or folk music, that Gordon Lightfoot had," Tyson told Reuters then.

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.

Dirham Stretcher tips for having a baby in the UAE

Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:

• Buy second hand stuff

 They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.

• Get a health card and vaccinate your child for free at government health centres

 Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.

• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.

Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.

• Once baby is ready for solids, cook at home

Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.

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Forced%20Deportations
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Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

Updated: May 22, 2023, 9:59 AM