From left, Win Butler, Richard Parry and Sarah Neufeld of Arcade Fire.
From left, Win Butler, Richard Parry and Sarah Neufeld of Arcade Fire.

Arcade Fire: The Suburbs



There are plenty of good reasons to be suspicious about Arcade Fire. With their 2004 debut, Funeral, the North American rockers provided one of the best-loved albums of the past decade - but the ensuing years saw them display a level of pomp and humourlessness that one might expect to witness on a North Korean public holiday.

Their 2007 release, Neon Bible, was a huge commercial and critical success, which helped the group find a mainstream audience. But with its focus on the environment, terrorism and celebrity culture, it felt every bit as preachy as the televangelists that the album's title was supposed to mock. Their live shows saw the frontman Win Butler resembling a wild-eyed cult leader, barking orders at his band and the audience alike. Then there were the song titles, laden with brackets and Roman numerals, resembling instructions for building flat-pack furniture. It just all seemed a little bit silly.

Thankfully, The Suburbs sees the Texan-Haitian-French Canadian septet crafting a sound that is less ostentatious than before and telling a story that is far more personal. It is an album about living in the suburban sprawl during the 1980s - a love letter to a simpler time. Gone are the giant string arrangements and brass sections (one song on Neon Bible even featured a church organ) - instead, many of the tunes fit around a simple acoustic guitar part. No release that pays homage to the 1980s would be complete without a few synthesisers and this album obliges, albeit with tremendous subtlety.

It kicks off with the upbeat piano-driven title track, The Suburbs, a nostalgic jaunt in which Butler recalls the rivalries of old: "You always seemed so sure/That one day we would be fighting/In a suburban war/Your part of town against mine." Empty Room starts with a violin flurry that could accompany a 1950s washing-up powder advertisement, before stomping drums and guitars remind us of the Arcade Fire of old.

The record lacks the kind of knock-out tracks that made Funeral so essential, such as Neighborhood #3 (Power Out), Wake Up or Rebellion (Lies) - but The Suburbs certainly isn't short on great tunes. The slow-paced City With No Children has the most glorious, meandering bassline in recent memory and Butler commands the track with the delicate power of Nebraska-era Bruce Springsteen. A slowly echoing synth provides the album with its most emotionally resonant moment on the the gorgeously understated Half Light II (No Celebration). Tucked away towards the end, Sprawl II (Mountains Beyond Mountains) features the ghostly vocals of Régine Chassagne (the group's multi-instrumentalist and Butler's wife) accompanied by further excellent electronic elements and one of the album's catchiest choruses - reminiscent of the British synth-pop group OMD.

While the band have clearly refined their sound by honing in their excesses, the record itself is rather long-winded. At 16 tracks and more than an hour in length, the group's ode to perpetual childhood actually feels like it might go on forever. What's more, even when discussing the whimsy and innocence of youth, the agitated Butler shows little sign of lightening up. Arcade Fire have produced an album that departs from its predecessors both musically and emotionally, but without losing any of the group's distinctiveness. While newcomers may feel bogged down by the sheer amount of music here, there are enough moments of brilliance for even the biggest sceptic to see the group in a different light.

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

While you're here
Business Insights
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  • The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
  • US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs

Know your camel milk:
Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste.
Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk.
Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.

Company%20Profile
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%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
Cinco in numbers

Dh3.7 million

The estimated cost of Victoria Swarovski’s gem-encrusted Michael Cinco wedding gown

46

The number, in kilograms, that Swarovski’s wedding gown weighed.

1,000

The hours it took to create Cinco’s vermillion petal gown, as seen in his atelier [note, is the one he’s playing with in the corner of a room]

50

How many looks Cinco has created in a new collection to celebrate Ballet Philippines’ 50th birthday

3,000

The hours needed to create the butterfly gown worn by Aishwarya Rai to the 2018 Cannes Film Festival.

1.1 million

The number of followers that Michael Cinco’s Instagram account has garnered.

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.”