Greetings from Charlton Park, where Britain's annual Womad festival is in the full swing of its closing day. Nestled in a picture-postcard corner of Middle England approximately 130km west of London, this idyllic country estate has hosted the mother of all world-music events for the last three years.
But the World of Music, Arts and Dance organisation, set up to champion artists from all over the globe, has roots in this area, stretching right back to its formation in 1980. Womad's founder and figurehead, the rock star Peter Gabriel, lives about 30km away. His Real World recording studio and record label are also based nearby.
Gabriel is one of this weekend's star attractions, alongside his fellow world-music legends Youssou N'Dour and Ethiopiques. But one of the key strengths of Womad's multicultural musical banquet has always been its egalitarian ethos, with a pick-and-mix menu that relies less on famous headliners than any other major festival.
Only here can open-minded music lovers hear Algerian rai singers, Indian gypsy orchestras, Mongolian gurglers, Hungarian wedding bands, Colombian flamenco, Cuban jazz, African hip-hop and human beatboxers from London - all on the same stage. Sometimes all at the same time.
The only real disappointment of the weekend so far has been the last-minute cancellation of a performance by the Dubai-based Arabic jazz guitar maestro Kamal Musallam, together with his UAE collaborators Sokoor and Abri.
Even so, the Abu Dhabi Authority for Culture and Heritage has one of the most prominent and inviting display stands here at Charlton Park. From beneath the camel-hair canopy of a Bedouin tent, the Adach team offers warm hospitality and glossy brochures on Emirati food, dress and handicrafts. As Womad's director Chris Smith told me on Friday, this is the first stage in a projected long-term partnership.
"There are very localised artists in the Gulf states who sell huge numbers of CDs but actually aren't performing significantly outside the region," Smith says. "Part of the relationship we are developing with Adach and Abu Dhabi is about unearthing that talent and sharing it with the wider world."
Also on display at the Adach tent is promotional material for next year's Womad Abu Dhabi. The festival's Gulf debut, he says, was an "amazing experience" which even surprised some of the organisation's old hands. "Everybody was overwhelmed by the response to Womad in Abu Dhabi," Smith says. "It was probably the most cross-cultural event we've done anywhere."
Aside from its unrivalled mix of music, one of Womad's main attractions has always been its laid-back utopian atmosphere. The most family-friendly British festival of the summer season, it attracts a large number of parents with young children. Dotted with clusters of rainbow-coloured flags, Charlton Park feels like a bustling global bazaar where you can find drumming workshops, healing massages, bric-a-brac boutiques and food from every corner of the globe. Indian, North African and Middle Eastern seem to be the favourites this year with countless stalls offering falafel, baklava, harees and more.
Musically, the festival got off to a mellow start on Friday with a typically diverse roster of artists from all across the musical and geographical map. The female face of Africa was strongly represented by Dub Colossus, an Anglo-Ethiopian group who play a laid-back fusion of reggae and jazz, as well as by Mariem Hassan from Western Sahara and Rokia Traore from Mali. A diplomat's daughter, Traore spent some of her childhood in Algeria and Saudi Arabia, which helps explain the richly woven tapestry of Afrofunk, Arabic and Middle Eastern influences in her smoky-voiced set.
The Australian collective Black Arm Band also made a big splash with its Womad debut, a compelling blend of songs, archive film and history lesson. A multiracial collective fronted by the Aboriginal singer Archie Read, the show dramatised the long and bitter struggles of indigenous Australians, from colonisation by the British two centuries ago to last year's historic public apology by the country's prime minister, Kevin Rudd. The background story was moving, and sometimes painful, but the music was mostly warm and celebratory.
Defying its reputation among more blinkered rock critics as a purist folk festival, Womad is also a great breeding ground for sounds without borders, bizarre hybrid genres and soundclash experiments - oddball artists such as the lively French troubadours Caravan Palace, who played a frenetic fusion of syncopated swing jazz and modern club beats, or the rising star of Chinese bluegrass guitar, Mamer, who strummed and hummed his alluringly rootless ballads like a Mongolian Ry Cooder.
Friday night climaxed with a magisterial set by Solomon Burke, the gigantic American soul man who performed from his usual stage perch, a velvet-lined throne. This 69-year-old man-mountain is a former undertaker, sometime preacher, father of 21 children and grandfather to 90 more - indeed, his youngest daughter Candy sang with him at Womad. But most of all, Burke is a world-class showman of the old school, wrapping his surprisingly supple voice around songs by Tom Waits and Eric Clapton before hushing the crowd with Sam Cooke's A Change Is Gonna Come, the stirring civil-rights classic that recently earned new currency as President Obama's unofficial election anthem.
As the weekend progresses, the Womad organisers are expecting 30,000 visitors at Charlton Park. The beauty of this new location is that it never feels crowded, unlike the festival's previous site - an urban leisure park in the Thames Valley town of Reading, 64km east, which became steadily overloaded until relocation became essential two years ago.
Now the longest-running festival of its kind in the world, WOMAD has branched out around the globe in recent years, birthing sister events from Australia to Spain and Abu Dhabi. It has also become a model for younger British festivals like The Big Chill and Latitude. Both take place in similarly secluded country-house settings, and increasingly field the same kind of multicultural musical menu.
"One of the things I find interesting," Chris Smith says, "is if you look at a lot of festivals this year and last, and see the artists that historically would only ever have been on a Womad stage are now performing all over the country. This is obviously a good thing, but it also means that the concept of what is world music probably needs to be rethought - and possibly that phrase needs to be consigned to history."
With profits from CD sales in freefall and live music currently booming, competition for festival audiences has never been so fierce. And yet, even during the current economic downturn, the Womad brand appears to be maintaining its unique appeal. From the leafy paradise of Charlton Park, at least, the future looks bright.
"We obviously started the year with all sorts of anxieties about what the future would hold," Smith admits. "Ticket sales have actually gone up this year, not massively, but I hold the view that we probably have the most loyal audience in the world. If we were very brave, we would never do any marketing at all and see how many people turn up. My guess is it would be the same sorts of figures that we have now, because our audience is a word-of-mouth audience. Like Glastonbury, people are coming to Womad for the event. They trust the programme. They trust that we are going to give them new experiences."
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Profile
Company name: Jaib
Started: January 2018
Co-founders: Fouad Jeryes and Sinan Taifour
Based: Jordan
Sector: FinTech
Total transactions: over $800,000 since January, 2018
Investors in Jaib's mother company Alpha Apps: Aramex and 500 Startups
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%3Cp%3EAuthor%3A%20S%20Frederick%20Starr%3Cbr%3EPublisher%3A%20Oxford%20University%20Press%3Cbr%3EPages%3A%20290%3Cbr%3EAvailable%3A%20January%2024%3C%2Fp%3E%0A
Specs – Taycan 4S
Engine: Electric
Transmission: 2-speed auto
Power: 571bhp
Torque: 650Nm
Price: Dh431,800
Specs – Panamera
Engine: 3-litre V6 with 100kW electric motor
Transmission: 2-speed auto
Power: 455bhp
Torque: 700Nm
Price: from Dh431,800
LA LIGA FIXTURES
Thursday (All UAE kick-off times)
Sevilla v Real Betis (midnight)
Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
Espanyol v Alaves (4pm)
Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
Sunday
Atletic Bilbao v Atletico Madrid (4pm)
Real Madrid v Eibar (9.30pm)
Real Sociedad v Osasuna (midnight)
Despacito's dominance in numbers
Released: 2017
Peak chart position: No.1 in more than 47 countries, including the United States, the United Kingdom, Australia and Lebanon
Views: 5.3 billion on YouTube
Sales: With 10 million downloads in the US, Despacito became the first Latin single to receive Diamond sales certification
Streams: 1.3 billion combined audio and video by the end of 2017, making it the biggest digital hit of the year.
Awards: 17, including Record of the Year at last year’s prestigious Latin Grammy Awards, as well as five Billboard Music Awards
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Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
Low turnout
Two months before the first round on April 10, the appetite of voters for the election is low.
Mathieu Gallard, account manager with Ipsos, which conducted the most recent poll, said current forecasts suggested only two-thirds were "very likely" to vote in the first round, compared with a 78 per cent turnout in the 2017 presidential elections.
"It depends on how interesting the campaign is on their main concerns," he told The National. "Just now, it's hard to say who, between Macron and the candidates of the right, would be most affected by a low turnout."
How to turn your property into a holiday home
- Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
- Research equivalent Airbnb homes in your location to ensure competitiveness.
- Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
- Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
- Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
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.”
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
The years Ramadan fell in May