Night Thoughts
Suede
(Suede Ltd)
Four stars
When Suede released their self-titled debut album in 1993, Brett Anderson, the band’s supremely talented frontman, and Bernard Butler, the lead guitarist, were hailed as creative powerhouses who would surely go on to define a generation of British music with their brand of brittle-but-intense alternative rock.
That idea would ultimately prove to be a false prophecy, as Suede found themselves overrun by the altogether more laddish Britpop eruption led by Oasis. Worse was to follow: Butler walked out in 1994, Suede’s early promise withered on the vine, and the band split in 2003.
Now they are back – albeit still without Butler – with a second album of new material in three years.
Night Thoughts – which follows well-received 2013 release Bloodsports – stays true to the classic Suede sound, marrying expansive and intricate guitar work with Anderson's evocative and exquisite lyrical vignettes, which grub around somewhere between glam and the gutter.
Twenty years ago, Anderson was singing about alienation, fast living and the thrill of the chase. Somehow, the 21st-century Anderson, ably supported on songwriting duties by Neil Codling and Richard Oakes, manages to stay close to many of those same themes without seeming like a man living an existence at odds with his years.
His world is still one of fragile beauty, his life still seemingly in the balance – it is no surprise to find Night Thoughts littered with song titles such as Outsiders, No Tomorrow, Tightrope and I Can't Give Her What She Wants – even as he wrestles with his transformation from party-loving poet to happily married family man.
The aching for that previous life – or perhaps the concern about what is to come – is still front and centre.
On When You Are Young, Anderson talks of "battle plans and distant drums" and of there being "nothing right and nothing wrong" – but this nostalgia is wedded to a sense of understanding that the bravado of youth often gives way to a more stinging sense of self-awareness in middle age.
"I don't know the meaning of much, I don't know the right expressions, I don't have too much intuition or too many credentials", he laments on What I'm Trying to Tell You.
There is an inherent danger in comebacks, particularly after a long absence, something that Anderson has acknowledged in recent interviews. Too many bands return with an approximation of their previous sound without any sense that the world might have moved on in their absence.
Night Thoughts treads a more delicate path, offering enough to existing fans to keep them satisfied, while presenting a set of dark but enchanting songs that point to a new era of adoration for Suede.
nmarch@thenational.ae
Civil%20War
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Zuculini 24', Martinez 73', 90 2', Borre 89' (pen)
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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The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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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.