Lebanese oud maestro and singer Marcel Khalife performs on stage at the opening night of the annual Baalbeck International Festival in 2019. EPA/WAEL HAMZEH
Lebanese oud maestro and singer Marcel Khalife performs on stage at the opening night of the annual Baalbeck International Festival in 2019. EPA/WAEL HAMZEH
Lebanese oud maestro and singer Marcel Khalife performs on stage at the opening night of the annual Baalbeck International Festival in 2019. EPA/WAEL HAMZEH
Lebanese oud maestro and singer Marcel Khalife performs on stage at the opening night of the annual Baalbeck International Festival in 2019. EPA/WAEL HAMZEH

Lebanon’s Baalbeck Festival to stream classical concert from its historic site


Saeed Saeed
  • English
  • Arabic

The Baalbeck International Festival will hold a special concert from one of the ancient city's most prestigious sites this July.

The renowned arts and culture event, held each year in the eastern Lebanese city, will host The Sound of Resilience orchestral concert, to be held at the foot of The Bacchus Temple on Sunday, July 5 at 10pm, UAE time.

With safety measures in place by the Lebanese government due to the pandemic, no audience will be present.

Instead, the concert will be broadcast live across major Lebanese television channels.

Regional broadcaster MBC will also stream the the concert on its online platform Shahid, while the festival’s social media accounts will also carry the performance online.

“The Bacchus Temple will harbour history, culture, and arts as the City of the Sun opens virtually its gates for a one-of-a-kind live concert,” announced the festival in a statement.

“The Sound of Resilience will serve as an example for future concerts to be held during the ongoing health crisis.”

A cross cultural program

The best of Lebanese classical music and choral talent will take the stage for the concert.

The Lebanese Philharmonic Orchestra will be joined by the choirs of the country's Antonine University, Notre Dame University and Qolo Atiqo, as they perform together under the baton of maestro Harout Fazlian.

While the programme for the concert has not been revealed, organisers promise a repertoire that represents Baalbeck’s cultural and physical positioning as the “crossroads of civilisations”.

The festival also stated that the concert will celebrate the 250th anniversary of Beethoven's birth, with select pieces from the German composer and pianist.

What is the Baalbeck Festival?

First held in 1955, the annual festival has been a major driver of arts and culture within Lebanon, in addition to being one of the region's key cultural events.

Over the years, the festival has welcomed legendary performers onto its stage, including Umm Kulthum, Fairuz, Ella Fitzgerald and Joan Baez.

While the event celebrates its 65th anniversary this year, it hasn't been a smooth ride throughout the decades. The Lebanese Civil War meant the festival had to close its doors from 1975 to 1996. When it returned in 1997, it marked the historic occasion with lavish shows by the Radio France Philharmonic Orchestra, conducted by Marek Janowski, and the Lebanese dance company Caracalla Dance Theatre.

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

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.”

The specs

Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder

Power: 220 and 280 horsepower

Torque: 350 and 360Nm

Transmission: eight-speed automatic

Price: from Dh136,521 VAT and Dh166,464 VAT 

On sale: now

APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

ASSASSIN'S%20CREED%20MIRAGE
%3Cp%3E%0DDeveloper%3A%20Ubisoft%20Bordeaux%0D%3Cbr%3EPublisher%3A%20Ubisoft%0D%3Cbr%3EConsoles%3A%20PlayStation%204%26amp%3B5%2C%20PC%20and%20Xbox%20Series%20S%26amp%3BX%0D%3Cbr%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
Polarised public

31% in UK say BBC is biased to left-wing views

19% in UK say BBC is biased to right-wing views

19% in UK say BBC is not biased at all

Source: YouGov