Sheikha Bodour Al Qasimi believes the publishing industry in the Arab world can develop only if there is more interaction with the international experts. Reem Mohammed / The National
Sheikha Bodour Al Qasimi believes the publishing industry in the Arab world can develop only if there is more interaction with the international experts. Reem Mohammed / The National

Sharjah hopes to turn the page in the Arab publishing world



The prestigious Frankfurt Book Fair had a disappointing Arab representation, with only three publishers from the region invited to put up their stalls. Shadiah Abdullah Al Jabry says this is a sad reflection on the Middle East's ailing publishing industry.

It is hard not to be impressed by the hustle and bustle inside the vast exhibition halls of the Frankfurt Book Fair, the oldest such event in the world.

Any publisher worth his name must have been there. It was, after all, the world’s largest centre for the trade.

This was not an event catering only to the public but very much about business, with 7,300 publishers from 104 countries promoting their latest offerings this year. This was the place to be, where book deals were clinched and copyrights sold.

Amid the flurry of contracts made and cancelled, the Arab presence was disappointing.

Only a few independent publishers such as the Sharjah-based children’s publisher Kalimat, had their own stalls. Other well-known publishers were content to be represented by their country’s pavilions.

Cornelia Helle, from the Middle East section of the fair, says that through an invitation programme run by the German foreign office, three independent Arab publishers had the chance to take part this year.

“We encourage such participation as we would like to hear the Arab’s intellectual voice. Only through books can you get an insight into a culture,” Ms Helle says.

The weak representation at such a prestigious event, held from October 14 to 18, is a sad reflection on the Arab world’s ailing publishing industry.

High illiteracy levels, the low income of potential readers, a lack of distribution networks, absence of statistics about the market, censorship and piracy are some of the challenges facing the industry.

The result is that the average print run of books in Arabic is tiny – rarely more than 3,000 copies and usually much fewer. The figure is shocking, considering there are more than 300 million Arabic speakers in the world.

In Egypt, with a population of 90 million, a new book’s average publishing run does not exceed 1,000 copies. It rarely runs into a second edition.

But all is not doom and gloom. Recently, there have been many initiatives and new projects to promote books, publishing and reading habits in the Arab world. The UAE has been in the forefront of such initiatives.

Sheikha Bodour Al Qasimi, founder and patron of the Emirates Publishers Association, is aware of the challenges facing the Arab publishing industry.

“Despite the launch of several initiatives, grants and awards that support the translation of books from Arabic into other languages, Arabic books are still among the least translated books in the world,” Sheikha Bodour says.

“This is due to many reasons but primarily it is the lack of agents in the Arab world working on the promotion of Arab publications. That is responsible for this state of affairs.”

She points out that publishing is a profoundly intellectual business, well established in the West over hundreds of years.

“We in the Arab world must communicate and cooperate with international experts to develop our industry and reach international markets,” Sheikha Bodour says.

But she is optimistic, noting that there were significant opportunities for the development and prosperity of publishing in the region, although more effort was needed to use them.

Sheikha Bodour says the UAE can continue to make progress. “We have supportive laws that appeal to Arab and foreign investors in the publishing sector.”

She highlights the importance of Arab countries joining the International Publishers Association (IPA), of which the UAE became a member in 2012.

Other Arab countries, including Saudi Arabia, Tunisia and Jordan, were accepted as members during the fair, raising the level of Arab representation at the IPA.

This will allow Arab publishers to work more closely with member states in promoting Arab culture, publications and authors.

The Sharjah delegation is also promoting the 3rd Arab Publishers Conference to be held in the emirate on November 2 and 3.

The conference, under the theme “Publishing Industry: Prospects and Challenges of the Digital Age”, will bring together experts and specialists from around the world to discuss issues related to libraries, education, property rights, digital piracy, electronic distribution, freedom of publication, translation, and content development.

“As hosts of the 3rd Arab Publishers Conference, we will shed light on the challenges facing the industry today and through dialogue, panel discussions and workshops find solutions, possibilities and opportunities to advance the publishing sector in the Arab region”, Sheikha Bodour says.

The Sharjah Book Authority, which runs the Sharjah International Book Fair, is also prominently represented at the fair.

Ahmed Al Ameri, chairman of the SBA, says “the Frankfurt Book Fair offers a wider insight into the global book industry in terms of the views of industry experts, stakeholders and people interested in the book industry, which is still energetic, dynamic and witnessing continuous growth despite challenges”.

Mr Al Ameri stresses the importance of the fair and its focus on industry experts and professionals, rather than the public.

This, he says, offers a chance to introduce publishing houses and translation agencies to the SBA, which includes the book fair, the Sharjah Children’s Reading Festival and the fair’s translation grant, as well as many other initiatives.

“The Ruler of Sharjah, Dr Sheikh Sultan bin Mohammed Al Qasimi, believes that any country’s journey towards renaissance and development can only be achieved through knowledge, which begins with nurturing one’s mind with culture and knowledge, the main source being literature,” Mr Al Ameri says.

“He also believes that no country can move forward and achieve a better future without culture and science.”

Perhaps the story behind the first Sharjah International Book Fair can be an inspiration for those working in the Arab world’s beleaguered publishing industry.

In 1982, the fair received very few visitors and no sales were made. This prompted Dr Sheikh Sultan to buy books from the participating publishing houses in his determination to create a cultural project.

Today, after 34 years, the Sharjah International Book Fair has grown to become one of the three most important book fairs in the world.

“The Sharjah book fair is not merely a place for the sale of books and intellectual rights,” Mr Al Ameri says.

“It is an exhibition and a cultural and literary festival that offers an inspirational platform for industry professionals, academics, artists and the public.”

newsdesk@thenational.ae

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STAR WARS JEDI: SURVIVOR

Developer: Respawn Entertainment
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Rating: 4/5

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.”

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Engine 3.6L V6

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Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

Normcore explained

Something of a fashion anomaly, normcore is essentially a celebration of the unremarkable. The term was first popularised by an article in New York magazine in 2014 and has been dubbed “ugly”, “bland’ and "anti-style" by fashion writers. It’s hallmarks are comfort, a lack of pretentiousness and neutrality – it is a trend for those who would rather not stand out from the crowd. For the most part, the style is unisex, favouring loose silhouettes, thrift-shop threads, baseball caps and boyish trainers. It is important to note that normcore is not synonymous with cheapness or low quality; there are high-fashion brands, including Parisian label Vetements, that specialise in this style. Embraced by fashion-forward street-style stars around the globe, it’s uptake in the UAE has been relatively slow.

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

Company Profile

Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government

Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.

A semen analysis of the father showed abnormal sperm so the couple required IVF.

Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.

A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.

On day three of the process, 14 embryos were biopsied for gender selection.

The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.

Day five of the treatment saw two male embryos transferred to the patient.

The woman recorded a positive pregnancy test two weeks later. 

Credits

Produced by: Colour Yellow Productions and Eros Now
Director: Mudassar Aziz
Cast: Sonakshi Sinha, Jimmy Sheirgill, Jassi Gill, Piyush Mishra, Diana Penty, Aparshakti Khurrana
Star rating: 2.5/5