Victor, voiced by Charlie Tahan, left, and his pet Sparky in a scene from Frankenweenie. AP Photo
Victor, voiced by Charlie Tahan, left, and his pet Sparky in a scene from Frankenweenie. AP Photo

Nicole Scherzinger rumoured to be filming in Dubai



Scherzinger rumoured to be filming in Dubai

Pop star alert: keep your eyes peeled for possible Dubai sightings of Nicole Scherzinger. There are rumours circulating that the ex-Pussycat Doll is in town to shoot segments for The X Factor UK. The 34-year-old is a regular UAE visitor, having performed a DJ gig at Dubai's Cirque Du Soir in February as well as attending the 2010 Abu Dhabi Formula One Grand Prix to support her boyfriend, the McLaren driver Lewis Hamilton. Scherzinger joins the Take That singer Gary Barlow, and the singer Tulisa Contostavlos on this year's X Factor panel. – Saeed Saeed

Burton's Frankenweenie to open London festival

Tim Burton's canine monster movie Frankenweenie will open this year's London Film Festival, which runs from October 10-21. The animated black-and-white tale, about a boy's attempts to bring his dead dog back to life, is a feature-length expansion of Burton's 1984 live-action short of the same name. "A funny, dark and whimsical tale that playfully turns the Frankenstein story on its bolted-on head," said the festival's chief Clare Stewart. The event's full line-up will be announced next month. – AP

James Franco announces two new films

James Franco, who has already helmed several short films, is set to direct his first full-length feature film, an adaptation of William Faulkner's novel As I Lay Dying. He has already signed on the actors Danny McBride and Logan Marshall-Green. Shooting is set for October. At the same time, Franco signed on to Third Person, a new romantic drama directed by Paul Haggis (Crash). He joins Mila Kunis and Liam Neeson in the cast. The film follows the three interconnected love stories of three couples in three cities: Rome, Paris and New York.

Musical producer duo takes on the Oscars

The producing team that helped to create musicals such as Chicago, Hairspray and Footloose is overseeing the next Academy Awards. Craig Zadan and Neil Meron have been drafted to produce the 85th Oscars on February 24. Among their TV credits are the series Smash and the forthcoming Steel Magnolias. "We hope to utilise our experience to bring something fresh and special to this incredible awards show," the duo said in a statement. – AP

Morgan Spurlock in new CNN series

The filmmaker Morgan Spurlock is coming to CNN for a new series titled Inside Man, which takes a close look at distinct sectors of society, such as gun lovers, end-of-life caregivers and migrant farm workers. Spurlock is known for his Oscar-nominated film Super Size Me, where he subsisted on McDonald's food for 30 days. Inside Man will debut in April, along with another new series from the chef Anthony Bourdain. Both shows represent an experiment for CNN, which has had recent ratings troubles. – AP

Founder: Ayman Badawi

Date started: Test product September 2016, paid launch January 2017

Based: Dubai, UAE

Sector: Software

Size: Seven employees

Funding: $170,000 in angel investment

Funders: friends

Difference between fractional ownership and timeshare

Although similar in its appearance, the concept of a fractional title deed is unlike that of a timeshare, which usually involves multiple investors buying “time” in a property whereby the owner has the right to occupation for a specified period of time in any year, as opposed to the actual real estate, said John Peacock, Head of Indirect Tax and Conveyancing, BSA Ahmad Bin Hezeem & Associates, a law firm.

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. 

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.”

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Day 2, stumps

Pakistan 482

Australia 30/0 (13 ov)

Australia trail by 452 runs with 10 wickets remaining in the innings