A selection of noughties British artists and a spectacular ice show are coming to Dubai Opera next month.
The Downtown Dubai venue has unveiled its festive programme for December, with music and dance featuring heavily among the upcoming performances.
Here's what to expect ...
'Christmas Cracker': Thursday, December 10
Among the artists jetting into the UAE ahead of Christmas is Gareth Gates, who will perform as part of Christmas Cracker, a concert featuring Yuletide classics and singalong carols.
The British singer-songwriter was runner-up in the first series of Pop Idol in 2002, the talent show that went on to become The X Factor. He will be joined on the night by Natasha Hamilton, former member of Atomic Kitten, the British girl band known for hits such as 2000's Whole Again.
"This festive extravaganza promises to transport guests to the magical days of Christmases past, a definite delight for those who want to reignite that childhood wonder," said Dubai Opera.
While the pop stars will perform festive classics, guests can also expect renditions of their most famous chart hits, too.
Tickets for Christmas Cracker start from Dh225, including a welcome drink.
'Santa Baby': Friday, December 11
NSO Big Band will put a jazz twist on festive favourites in this concert, which will be performed at 2pm and 8pm.
The band, which brings together musicians from across the UAE, will perform upbeat renditions of songs such as Everybody's Waitin' for the Man With the Bag, Silver Bells and All I Want for Christmas is You.
The show will also feature guest jazz musicians and vocalists from Europe and Armenia.
Tickets start from Dh190 and include a welcome drink.
'The Simon & Garfunkel Story': Saturday, December 19
This concert-inspired show tells the story behind the musical folk duo of singer-songwriter Paul Simon and singer Art Garfunkel.
Following a sold-out run in London's West End as well as a worldwide tour, The Simon & Garfunkel Story uses projections, photos and film footage alongside live performances and eerily similar vocalists. The duo, who rose to fame as one of the best-selling music groups of the 1960s, disbanded in 1970 and went on to forge solo careers, although they did reunite several times.
Expect to hear some of the New York duo's most recognisable hits, including Mrs Robinson, Cecilia and Bridge Over Troubled Water.
Tickets start from Dh145 and include a welcome drink.
'Cirque de Glace': Thursday to Saturday, November 24 to November 26
Dubai Opera is set to turn its stage into an ice rink once more for this frosty show (it previously did the same for The Nutcracker on Ice in 2016).
This year, a troupe from Russian Ice Stars will perform a series of theatrical acrobatics, dances and contortions on skates, in a show that's touted to trace the story of human evolution.
There will be high-octane lifts and high-speed throws aplenty, ensuring you'll be gripping the edge of your (socially distanced) seat.
Tickets start from Dh295 and include a welcome drink.
For more information or to book tickets, visit dubaiopera.com
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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.
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“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.
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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.”
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