The US R&B star Lloyd speaks about his latest smash hit and his forthcoming return to Abu Dhabi's Etoiles on Friday night.
You are a return visitor to UAE and Etoiles now. You were in the club last year for Formula One.
Ah yes! I have been blessed to be invited here more than once. Unfortunately that last time I couldn't stay long. I had a lot of fun, though.
Do you ever get a chance to holiday in the UAE in your previous visits?
I had memorable experiences. I made some good friends. I always take time to go out and see the cities, shopping at the local markets and support the people and their business. I also had a chance to eat some interesting food out there, visit Emirates Palace and see the sights. It was nice.
And how is 2012 treating you so far?
It has been a very busy period generally. I released a new album, toured with Lil' Wayne last summer and also Trey Songz. I had the opportunity to visit my friends over in Europe, England and Australia recently and
Dedication to My Ex
is really popular. So yes, a great time.
Dedication to My Ex is a huge hit in the US and Australia. Were you surprised by the reaction?
Well you know if it feels good but you never know whats going to happen. So yeah, that song definitely surprised me.
Why do you think people and the radio immediately latched on to it?
I think it's dangerous, risky and people like to take a chance.
Your career has seen up and downs. You changed record labels after you felt like you were sidelined. Did you ever think to give up and try something else?
I don't really know what giving up means. I never heard those two words spoken together till just now. I can't comprehend the phrase. I think challenges are what makes experiences memorable and the way you deal with them builds character. I embrace the challenge...this is life.
You are in your mid twenties and have already released four solo albums. Do you already feel like a veteran?
Hmmm, when do you feel like a veteran? I guess I've been in the game for a while now but I do feel like I have a lot to learn. To me, it still feels like the first time.
But has the industry changed since that first time?
The game is always changing, then again so is the world. The game is just a reflection of the times. Music is now more integrated than it has ever been. There are kids in Abu Dhabi hearing Lloyd music, so I think it's a beautiful thing.
You were involved in a lot of hits as a feature guest for other artists. Do you feel the success of your last album King of Hearts now have people viewing you as a solo artist in your own right?
We worked really hard on the album. I don't know what people think or what they drew from it. I really don't really think that deep into it, I just do my thing and hope it can be accepted. As far as people acknowledging me or how they see me now, I really can't understand. I guess you would just have to talk to the people.
What should the crowd at Etoiles expect from Friday night's show?
You will have to come see and it for yourself in action. We added more live music, I have drums all the time now, so it is more.
Bringing Down The House featuring Lloyd at Etoiles, Emirates Palace, Abu Dhabi. on Friday. 11.30pm. For more details go www.etoilesuae.com.
Test series fixtures
(All matches start at 2pm UAE)
1st Test Lord's, London from Thursday to Monday
2nd Test Nottingham from July 14-18
3rd Test The Oval, London from July 27-31
4th Test Manchester from August 4-8
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.”
What She Ate: Six Remarkable Women & the Food That Tells Their Stories
Laura Shapiro
Fourth Estate
Schedule:
Friday, January 12: Six fourball matches
Saturday, January 13: Six foursome (alternate shot) matches
Sunday, January 14: 12 singles
The specs: 2018 Honda City
Price, base: From Dh57,000
Engine: 1.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 118hp @ 6,600rpm
Torque: 146Nm @ 4,600rpm
Fuel economy, combined: 5.8L / 100km
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
