Belle and Sebastian have made a much more personal album this time.
Belle and Sebastian have made a much more personal album this time.

Belle and Sebastian write about love



Belle and Sebastian 

Write About Love 

(Rough Trade) 

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There is a moment during Write About Love, the eighth studio album from the loose-knit Glasgow outfit Belle and Sebastian, when the stars seem to align. It's the surprise appearance of the recent Oscar hopeful Carey Mulligan, who lends her breathy vocal to the album's title track and alludes to a different life with the lines: "I hate my job / Every day I'm stuck in an office."

The star, who is best known for portraying a frustrated 1960s schoolgirl in An Education, was surely born to record with the group, whose vast catalogue of twee coming-of-age pop contains dozens of songs about such characters, and whose record covers are invariably adorned with black and white images of them. But like the rest of the album, the brief but perfectly played match-up almost never came to be.

Stuart Murdoch, the group's complicated and rather delicate frontman, has spoken at length about how he felt they had drifted apart during the years since their 2006 release, The Life Pursuit, and about his surprise that they found time to record together again. He had been busy with his music and film project, God Help the Girl, while the drummer, Richard Colburn, was most recently heard playing with the alt-country supergroup Tired Pony.

But Write About Love doesn't sound like a last-ditch attempt to preserve a fading dream, or worse, an incoherent collection of recordings that demonstrate what everyone learnt during their time off. Instead, the album sounds as though it could have been made at almost any point during the group's 15-year career. It opens with I Didn't See It Coming which, led by Sarah Martin's gentle vocals, slowly grows into the kind of densely arranged, swinging pop tune that Belle and Sebastian do best. Later on, the brilliantly titled Calculating Bimbo is a reminder of Murdoch's ability to combine charming wordplay and emotionally resonant delivery.

Write About Love (featuring Mulligan) is perhaps the album's high point, featuring a supercool 1960s-style organ sound and guitarist Stevie Jackson's snappiest riff. All the retro elements coalesce perfectly over one of the best choruses the group has ever created and a hilarious call and response lyric between Mulligan and Murdoch. Indie purists will feel less comfortable about the album's other major collaboration, however. The song Little Lou, Ugly Jack, Prophet John features the velvety tones of the multimillion seller Norah Jones. Played like a smoky Diana Ross ballad, there's no denying that the song is skilfully executed, but it will sink or swim depending on the listener's preconceptions about Jones.

One of the album's rare upbeat numbers is I'm Not Living in the Real World, a brilliantly ecstatic pop tune sung with all of Jackson's optimistic energy and driven by an "ooh, ooh, ooh, ooh" backing vocal. Even its drastic key changes are hugely enjoyable. Towards the record's end, a succession of pleasant but slightly unremarkable ballads causes the album to drag, but there are some incredible moments tucked-away there too. A reflection on Murdoch's relationships with his bandmates, Read the Blessed Pages features one of his most intimate performances to date, while the synth-drenched Sunday's Pretty Icons manages to pull-off a dark and suspicious tone that feels entirely new for the group.

While their last release was heavy on theatrical rock songs about cartoonish characters, (Funny Little Frog, White Collar Boy, for example), this album - dominated by understated ballads - feels much more personal in nature. But it would be a mistake to assume that Murdoch's love songs are all autobiographical, or equally that his third-person creations aren't actually all about him. The truth is that Belle and Sebastian have returned with no great statement of intent. Instead, they've just done what they always do: lovingly delivered the best pop music they know how to make.

now hear this 

Recommended related albums Belle and Sebastian

If You're Feeling Sinister (1996) With horns, strings, complex arrangements and Stuart Murdoch's wry delivery, B&S's second album brought the band international critical praise and became an instant indie classic. Standout tracks include The Stars of Track and Field and Get Me Away from Here, I'm Dying.

God Help the Girl - God Help the Girl (2009) Stuart Murdoch wrote an album of songs specifically to be sung by female vocalists, then enlisted a bunch of unknowns to record them. He now has plans to turn the project into a musical film, which will begin shooting in 2011.

Norah Jones - Come Away With Me (2002) Dreamy vocals and pop hooks helped the contemporary jazz singer Norah Jones (a guest on Write About Love) to shift more than 20 million copies of her debut. Features the international hits Don't Know Why and Come Away With Me.

THE 12 BREAKAWAY CLUBS

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

Three trading apps to try

Sharad Nair recommends three investment apps for UAE residents:

  • For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
  • If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
  • Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
A MAN FROM MOTIHARI

Author: Abdullah Khan
Publisher: Penguin Random House
Pages: 304
Available: Now

Ramy: Season 3, Episode 1

Creators: Ari Katcher, Ryan Welch, Ramy Youssef
Stars: Ramy Youssef, Amr Waked, Mohammed Amer
Rating: 4/5

Company Profile

Company name: myZoi
Started: 2021
Founders: Syed Ali, Christian Buchholz, Shanawaz Rouf, Arsalan Siddiqui, Nabid Hassan
Based: UAE
Number of staff: 37
Investment: Initial undisclosed funding from SC Ventures; second round of funding totalling $14 million from a consortium of SBI, a Japanese VC firm, and SC Venture

Wallabies

Updated team: 15-Israel Folau, 14-Dane Haylett-Petty, 13-Reece Hodge, 12-Matt Toomua, 11-Marika Koroibete, 10-Kurtley Beale, 9-Will Genia, 8-Pete Samu, 7-Michael Hooper (captain), 6-Lukhan Tui, 5-Adam Coleman, 4-Rory Arnold, 3-Allan Alaalatoa, 2-Tatafu Polota-Nau, 1-Scott Sio.

Replacements: 16-Folau Faingaa, 17-Tom Robertson, 18-Taniela Tupou, 19-Izack Rodda, 20-Ned Hanigan, 21-Joe Powell, 22-Bernard Foley, 23-Jack Maddocks.

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.”

Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside

BMW M4 Competition

Engine: 3.0 twin-turbo inline six-cylinder
Transmission: eight-speed
Power: 503hp
Torque: 600Nm
Price: from Dh617,600
On sale: Now

COMPANY PROFILE

Company: Vault
Started: June 2023
Co-founders: Bilal Abou-Diab and Sami Abdul Hadi
Based: Abu Dhabi
Licensed by: Abu Dhabi Global Market
Industry: Investment and wealth advisory
Funding: $1 million
Investors: Outliers VC and angel investors
Number of employees: 14