ADFF reveals its film talks line-up
The Abu Dhabi Film Festival (ADFF) Talks Film programme has been unveiled and includes masterclasses and panel discussions on topics ranging from film preservation, crowdfunding campaigns, international acting techniques, Arab diaspora filmmaking, international co-productions and short film marketing. Festival director Ali Al Jabri said: "An important part of our work is creating connections between local film talent and the wider industry. ADFF Talks Film provides film buffs, students and filmmakers with a rare chance to interact with leading filmmakers and actors on a range of issues spanning the colourful world of cinema. The seminars, which are open to the general public, offer a refreshing and incisive behind-the-scenes look at the business of films." Filmmakers taking part include Emirati director Ali Mostafa, whose film From A to B will open the festival on October 23, and the French-Algerian director and producer, Rachid Bouchareb. Visit www.adff.ae for more details.– The National staff
Sotheby’s art auction in Doha totals US$8 million
Sotheby's Contemporary Art Doha auction on Monday night achieved sales totalling US$8 million (Dh29.4m), with 84.6 per cent of the lots selling. In addition, 13 artists set records for sales of their work. The top sale was Anish Kaproor's 2009 Untitled stainless-steel work, which sold for $1.6m, double its pre-sale estimate. Lina Lazaar, Sotheby's director of international contemporary art, said: "We're extremely pleased with tonight's strong result, reflecting the demand for the artists we are honoured to have presented for sale in Doha. The enthusiastic bidding tonight demonstrates the appetite for the artists we had very much wished to introduce to our clients in the region for the first time, as well as the wonderful pieces by established artists." – The National staff
New album on the way from Noel Gallagher
Former Oasis singer-songwriter Noel Gallagher will release a new solo album in March. Chasing Yesterday will be his third solo effort, after The Dreams We Have as Children in 2009 and 2011's Noel Gallagher's High Flying Birds. The British pop bad boy, who was the main songwriter and guitarist for British chart-toppers Oasis until his acrimonious 2009 split from brother Liam Gallagher, also announced a European tour. It will kick off in March in the United Kingdom before moving to Europe with dates in Paris, Milan, Copenhagen and Brussels. A pillar of the Britpop movement, Oasis were a huge success in the 1990s, selling 50 million records. – AFP
Walking Dead season premiere breaks TV-viewing records
The opening episode of the fifth season of the acclaimed zombie drama The Walking Dead was watched by 17.3 million people when it aired in the United States on Sunday, a new record for the show and for a non-sport cable-TV programme. The show, broadcast on the AMC network in the US, beat its previous record of 16.1 million for the fourth season opener last year. It also attracted a staggering 11 million viewers among 18-to-49-year-olds, considered the most valuable to advertisers, beating every other scripted show on TV this season – even ratings-smash The Big Bang Theory only managed 6.9 million in that demographic. The numbers will increase when time-delayed viewing is added in. – AP
‘Music’s not about money’, says godfather of punk Iggy Pop
The godfather of punk Iggy Pop has urged young performers to relax about changes to the music industry changes and to set their financial expectations low, saying that music was never meant to make money. The American singer, who captured the punk era's energy with 1977's Lust for Life, made his his comments as he delivered an annual BBC lecture named in honour of the late radio DJ John Peel. Pointing out that the industry will always put profit over musicians, he said: "If I had to depend on what I actually get from sales, I'd be tending bar between sets. Personally, I don't worry too much about how much I get paid for any given thing, because I never expected much in the first place and the whole industry has become bloated in its expectations." Referring to a TV advertisement he made recently, he said: "If I want to make money, well, how about selling car insurance? At least I'm honest – it's an ad, and that's all it is." – AFP
Witherspoon talks about ‘toughest movie I’ve ever made’
The Oscar-winning actress Reese Witherspoon says her new film Wild was the hardest role of her career. She plays Cheryl Strayed, a woman who trekked across a vast tract of wilderness in the United States for three months to recover from the death of her mother, a marriage break-up and heroin abuse. "It was more challenging in a way that I've never had before," Witherspoon said at the biopic's premiere at the London Film Festival on Monday. "It's definitely the hardest movie I've ever made – physically, emotionally, mentally – but when I got through it I was so happy." The actress, who also produced the film, was joined in London by the real-life Strayed, whose memoir was adapted by About A Boy novelist Nick Hornby for the film. The film was highly praised at the Toronto International Film Festival and Witherspoon has been tipped for an Oscar nomination. The 38-year-old won the Oscar for best actress in 2006 for her role in Walk the Line, about the US singer-songwriter Johnny Cash. – AFP
Iggy Azalea leads the way at American Music Awards
Hip-hop newcomer Iggy Azalea dominates the shortlist for the American Music Awards, with nods in six categories just months after her debut album. The Australian-born singer was nominated for artist of the year as well as song of the year for Fancy. Azalea, whose first studio album, The New Classic, was released in April, received more nominations than any other artist, even though it was only the first year she had made the list. Pharrell Williams is in contention for artist of the year and top single for his global blockbuster song Happy. Other artists in the running for artist of the year are Beyoncé, Luke Bryan, Eminem, Imagine Dragons, John Legend, Lorde, One Direction and Katy Perry. The American Music Awards, launched in 1973, recognise commercial success and public appeal, with fans voting for their choices. The winners will be announced on November 23 in Los Angeles. – AFP
Katie Holmes to play Jackie O for second time
Katie Holmes is to play Jackie Kennedy Onassis again in a TV miniseries. The 35-year-old actress has signed on to star in The Kennedys - After Camelot, a sequel to The Kennedys miniseries, for the ReelzChannel based on a book by Randy Taraborrelli. The four-hour miniseries will be broadcast in 2016. – AP
Chris Brown tops list of Soul Train Awards nominees
Chris Brown is the leading nominee for the Soul Train Awards. The R&B singer racked up seven nominations, including best R&B/soul male artist and song of the year for Loyal. Beyoncé earned six nominations, followed by Pharrell Williams with five. Williams and Beyoncé will be competing against each other for album of the year along with John Legend, Drake, Janelle Monáe and Michael Jackson. The Soul Train Awards will be presented on November 7 in Las Vegas. – AP
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
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Read more from Aya Iskandarani
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THE SPECS
Engine: 1.5-litre, four-cylinder turbo
Transmission: seven-speed dual clutch automatic
Power: 169bhp
Torque: 250Nm
Price: Dh54,500
On sale: now
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UAE currency: the story behind the money in your pockets
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Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
The%20Specs
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SPECS
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Brief scores:
Toss: South Africa, chose to field
Pakistan: 177 & 294
South Africa: 431 & 43-1
Man of the Match: Faf du Plessis (South Africa)
Series: South Africa lead three-match series 2-0
Uefa Nations League: How it works
The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.
The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.
Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.
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Results
United States beat UAE by three wickets
United States beat Scotland by 35 runs
UAE v Scotland – no result
United States beat UAE by 98 runs
Scotland beat United States by four wickets
Fixtures
Sunday, 10am, ICC Academy, Dubai - UAE v Scotland
Admission is free
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Meydan racecard:
6.30pm: Al Maktoum Challenge Round 2 (PA) Group 1 | US$75,000 (Dirt) | 2,200 metres
7.05pm: UAE 1000 Guineas (TB) Listed | $250,000 (D) | 1,600m
7.40pm: Meydan Classic Trial (TB) Conditions | $100,000 (Turf) | 1,400m
8.15pm: Al Shindagha Sprint (TB) Group 3 | $200,000 (D) | 1,200m
8.50pm: Handicap (TB) | $175,000 (D) | 1,600m
9.25pm: Handicap (TB) | $175,000 (T) | 2,000m
10pm: Handicap (TB) | $135,000 (T) | 1,600m
Killing of Qassem Suleimani
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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.
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 is Genes in Space?
Genes in Space is an annual competition first launched by the UAE Space Agency, The National and Boeing in 2015.
It challenges school pupils to design experiments to be conducted in space and it aims to encourage future talent for the UAE’s fledgling space industry. It is the first of its kind in the UAE and, as well as encouraging talent, it also aims to raise interest and awareness among the general population about space exploration.