The Cranberries
Roses
Cooking Vinyl
***
Predictions persist that 2012 will bring us a full-scale revival of Britpop, the popular movement that pushed a rash of exciting new bands into the UK charts from the early 1990s onwards. As the former Oasis guitarist Noel Gallagher recalled recently, though, securing a similar foothold across the pond was more difficult. "Those Americans are still proving to be stubborn fools," said the singer.
Over in Ireland, meanwhile, a less-heralded outfit were achieving more substantial transatlantic success. The Cranberries initially burdened themselves with one of the worst band-names in rock history - The Cranberry Saw Us - but went on to sell 30 million albums. Half of those units were shifted in the US, where they remained a major draw until a split in 2003.
Twenty years on from their first release, Dolores O'Riordan's reformed outfit are again making a splash far beyond their native Limerick. The new material has been doing particularly well in Italy and France, and has topped the charts in Mexico. Which does beg the question: why exactly are The Cranberries such an ongoing global attraction?
This sixth album revisits their own link to Britpop, as Stephen Street is back on board as producer, having worked on their first two wildly successful records. Best known as the man behind releases by Blur and The Smiths, the mood he fashions here is largely light and accessible, with flashes of melodic flair.
Roses actually gives a flavour of two eras, as several songs have been salvaged from an album they abandoned before the split. The oddly amateurish Raining in My Heart should have been left to rot, in truth, but Astral Projections' ethereal grandeur is a reminder that The Cranberries' US profile helped lay a path for the next generation of histrionic female-fronted rockers, the likes of Evanescence and Paramore.
The Cranberries were far from universally popular, though, chiefly due to the very weapon that still renders them unique - O'Riordan's hugely distinctive voice. Much of that ire is really directed at one chorus, her memorable bark and screech on Zombie, a 1994 protest song that became the band's signature tune despite not being particularly representative of their regular output.
Nothing so abrasive lurks within Roses, as an older, calmer O'Riordan muses on more personal matters. "Too young, too proud, too foolish," she sings on the pleasingly jangly Tomorrow, perhaps recalling the ill-advised video for Zombie in which she was painted gold and performed in front of a large wooden cross.
The comeback album is a more humble affair, and actually begins with a hint of self-mockery. After a promisingly atmospheric, Sigur Rós-style introductory riff, O'Riordan opens the jaunty Conduct by announcing that "now, it's too late, I can see that we should not be together", before eventually concluding that "when we get along, we're really strong".
After finishing the album, the singer enthused that her band mates "have a unique way of creating chords" while Street was "in the zone", and the players have indeed sculpted some evocative soundscapes here. These are often welded to painfully rudimentary lyrics, admittedly, but that combination is key when pondering The Cranberries' success in territories where English is not the native language; bands that acquire a big international following often find themselves taking a more simplistic, inclusive lyrical path.
The notable exception is Roses' musical highlight, Waiting in Walthamstow. Backed by glorious John Barry-like strings and a brooding air of film noir, O'Riordan proceeds to romanticise an unfashionable London district that was previously best known for part-inspiring the seedy British soap opera EastEnders. But then that show became an unexpected global success, too.It's an enjoyable aberration. The Cranberries' comeback record is generally solid but unspectacular, and unlikely to garner anything approaching the critical acclaim that has greeted many of Street's previous productions. Not that the band and their loyal, multinational fan base will worry too much about that.
artslife@thenational.ae
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SERIE A FIXTURES
Friday Sassuolo v Torino (Kick-off 10.45pm UAE)
Saturday Atalanta v Sampdoria (5pm),
Genoa v Inter Milan (8pm),
Lazio v Bologna (10.45pm)
Sunday Cagliari v Crotone (3.30pm)
Benevento v Napoli (6pm)
Parma v Spezia (6pm)
Fiorentina v Udinese (9pm)
Juventus v Hellas Verona (11.45pm)
Monday AC Milan v AS Roma (11.45pm)
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
RESULTS
Men – semi-finals
57kg – Tak Chuen Suen (MAC) beat Phuong Xuan Nguyen (VIE) 29-28; Almaz Sarsembekov (KAZ) beat Zakaria Eljamari (UAE) by points 30-27.
67kg – Mohammed Mardi (UAE) beat Huong The Nguyen (VIE) by points 30-27; Narin Wonglakhon (THA) v Mojtaba Taravati Aram (IRI) by points 29-28.
60kg – Yerkanat Ospan (KAZ) beat Amir Hosein Kaviani (IRI) 30-27; Long Doan Nguyen (VIE) beat Ibrahim Bilal (UAE) 29-28
63.5kg – Abil Galiyev (KAZ) beat Truong Cao Phat (VIE) 30-27; Nouredine Samir (UAE) beat Norapat Khundam (THA) RSC round 3.
71kg – Shaker Al Tekreeti (IRQ) beat Fawzi Baltagi (LBN) 30-27; Amine El Moatassime (UAE) beat Man Kongsib (THA) 29-28
81kg – Ilyass Hbibali (UAE) beat Alexandr Tsarikov (KAZ) 29-28; Khaled Tarraf (LBN) beat Mustafa Al Tekreeti (IRQ) 30-27
86kg – Ali Takaloo (IRI) beat Mohammed Al Qahtani (KSA) RSC round 1; Emil Umayev (KAZ) beat Ahmad Bahman (UAE) TKO round
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.”