It is officially Lü Siqing’s year. “2017 is the Year of the Rooster,” says the celebrated violinist, proudly pointing at the Chinese calendar. Some might argue that the 48-year-old’s “year” could also be described as 1987, the year Siqing reached international prominence as the first Asian winner of the Paganini Competition – a global contest held in honour of the late Italian virtuoso Niccolò Paganini.
Such an achievement is noteworthy when one considers Siqing’s upbringing in the shadow of the Cultural Revolution, which made obtaining western classical sheet music near-impossible. Siqing’s father – a music lover who introduced Siqing to the violin because a piano was too expensive – prodigiously produced and distributed bootleg scores for an underground community of musicians.
“It was very difficult to get hold of music – you had to borrow and copy everything,” says Siqing, who became the youngest musician to be accepted to Beijing’s Central Conservatory of Music at the age of 8.
He later studied at the United Kingdom’s Yehudi Menuhin School, under its eponymous founder, and at United State’s Juilliard School with Dorothy DeLay and Hyo Kang.
“The love and passion for music really kept it growing [in those days] – and now we have to pass this love and passion onto the next generation.”
Siqing is renowned for performing perhaps China's best-known orchestral work, The Butterfly Lovers Violin Concerto. Penned by He Zhanhao and Chen Gang in 1959 but only widely known after the Cultural Revolution, it utilises distinctly Chinese scales in a typical western symphonic setting.
“At the time we’d never before heard western instruments playing very familiar Chinese melodies and techniques, adapted into this frame,” remembers Siqing. “People had never heard anything like this.”
Now, however, the piece is rather more known. Siqing estimates he has performed the influential work close to 500 times in the past 30 years, as well as making four different recordings. “It’s actually a challenge for us to play this piece so many times,” he admits. “You always try to incorporate your life experience into the piece, give it a new feeling.”
The work is based on the Butterfly Lovers legend, a story passed down for more than a 1,000 years, and regarded today as China's Four Great Folktales. Today, it is frequently compared to Shakespeare's Romeo & Juliet, and fittingly at Saturday night's concert, the piece will be paired with Prokofiev's Romeo and Juliet suite performed by China's NCPA Orchestra – the resident players at Beijing's magnificent modern arts centre, known as The Giant Egg, for its striking titanium ellipsoid dome.
Since its inaugural performance just seven years ago, the ensemble has acted as a vital conduit feeding China’s blooming market for western classical music, and as a collective ambassador sharing eastern sounds and sensibilities with the globe. A regular collaborator with the NCPA, Siqing is bristling with optimism for the fate of classical music in China.
“[The NCPA] is very young, and at the start many of the staff weren’t so professional – it has to go through several years of growing pains, and grow through these pains,” says the violinist. “But from the start their goal was very high and very correct – it is not a remarkable goal – to grow into a world-class orchestra.
“They’re becoming more and more and focused on reaching a level of playing, and really bringing beautiful music to audiences in China and worldwide – I really believe they will be become very well deserved ambassadors for China.”
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Name: Enhance Fitness
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Employees: 200
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Company profile
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Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie
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UAE currency: the story behind the money in your pockets
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SPECS
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Jigra
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Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
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 Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
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Our rating: 4/5