Akon’s music career has spanned about three decades, but there was a time when he took a hiatus and stepped away from making music to focus on his entrepreneurial ventures.
In October, however, he returned with a new single, Akon’s Beautiful Day, which was followed by a global tour to reintroduce himself to long-time fans while drawing in new ones.
“The energy right here is what led me to come back to the music business,” the Senegalese-American singer and rapper told the hyped-up crowd at Etihad Arena during his concert on Saturday night as part of season three of the World Tennis League.
“The younger generation thought I was a new artist,” he joked, before explaining that he takes it as a compliment because it means his music transcends generations.
This was evident by the turnout at Etihad Arena, with many younger fans in attendance with groups of friends and older fans alongside partners and significant others, showcasing how enduring Akon’s music has become.
Even at 51, the Lonely hitmaker can still easily deliver a high-energy, crowd-pleasing performance. He took the stage for about an hour and a half with a setlist filled with fan favourites, while also previewing a couple of new tracks from his coming album, due to be released in February.
Looking suave in an all-white ensemble, which included a sleek, white trench coat over a fitted white outfit and a pair of sunglasses, Akon opened his show with his new single backed by a live band as a screen behind him played videos and graphics.
He then proceeded to go on a nostalgic journey through some of his biggest hits such as Smack That, Work Hard, Play Hard and Right Now (Na Na Na), which had the crowds up on their feet dancing most of the night. The only downside was the songs were shortened versions; however, this allowed the singer to seamlessly transition from one track to another.
Akon also impressively engaged with the audience throughout his performance, often asking if Abu Dhabi was ready to party before hyping up the Etihad Arena crowd ahead of his next song. At one point, he even brought out a special guest, Amirror, who collaborated with Akon on 2023’s Far Away, to join him on stage.
The high energy continued throughout the evening as the star performed songs he collaborated on such as Gwen Stefani’s Sweet Escape and Don Omar’s Danza Kuduro. Everyone was dancing and singing along as coloured lights and smoke effects from the stage amplified the party atmosphere.
As the night wore on, it was clear that Akon wanted to keep the party going and even at one point stood along the barriers in front of fans and took selfies and videos using the phones they held up to him while he sang his tracks.
He finished the show with his song Freedom, from his 2008 album of the same name, which speaks to themes of liberation and resilience. “Thank you Abu Dhabi, I love you all,” he said as he finished his performance, bowing and walking off stage. Based on the crowd's reaction, it was clear they loved him right back.
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 National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
UAE and Russia in numbers
UAE-Russia ties stretch back 48 years
Trade between the UAE and Russia reached Dh12.5 bn in 2018
More than 3,000 Russian companies are registered in the UAE
Around 40,000 Russians live in the UAE
The number of Russian tourists travelling to the UAE will increase to 12 percent to reach 1.6 million in 2023
Eyasses squad
Charlie Preston (captain) – goal shooter/ goalkeeper (Dubai College)
Arushi Holt (vice-captain) – wing defence / centre (Jumeriah English Speaking School)
Olivia Petricola (vice-captain) – centre / wing attack (Dubai English Speaking College)
Isabel Affley – goalkeeper / goal defence (Dubai English Speaking College)
Jemma Eley – goal attack / wing attack (Dubai College)
Alana Farrell-Morton – centre / wing / defence / wing attack (Nord Anglia International School)
Molly Fuller – goal attack / wing attack (Dubai College)
Caitlin Gowdy – goal defence / wing defence (Dubai English Speaking College)
Noorulain Hussain – goal defence / wing defence (Dubai College)
Zahra Hussain-Gillani – goal defence / goalkeeper (British School Al Khubairat)
Claire Janssen – goal shooter / goal attack (Jumeriah English Speaking School)
Eliza Petricola – wing attack / centre (Dubai English Speaking College)
Sholto Byrnes on Myanmar politics
The bio
Who inspires you?
I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist
How do you relax?
Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.
What is favourite book?
The Perks of Being a Wallflower - I think I've read it more than 7 times
What is your favourite Arabic film?
Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki
What is favourite English film?
Mamma Mia
Best piece of advice to someone looking for a career at Google?
If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.
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