Amitabh Bachchan says he's open to doing more Hollywood projects, but that his heart is in Bollywood. AFP
Amitabh Bachchan says he's open to doing more Hollywood projects, but that his heart is in Bollywood. AFP
Amitabh Bachchan says he's open to doing more Hollywood projects, but that his heart is in Bollywood. AFP
Amitabh Bachchan says he's open to doing more Hollywood projects, but that his heart is in Bollywood. AFP

Amitabh Bachchan back from Cannes

Plus: Kavita Srinivasan keen on action films; Ranbir reunites with Anurag Basu; Pooja Kumar performs own stunts; Yeh Jawani fails to credit Kashmir.

The National staff with agency

June 02, 2013

  • English
  • Arabic

After starring in The Great Gatsby, Amitabh Bachchan says he's open to doing more Hollywood projects, but that his heart is in Bollywood. Speaking to the Times of India after returning to Mumbai from the Cannes Film Festival, Bachchan said: "If there is an opportunity, then why not? But my main interest is here in India." Talking about the festival, he said: "Cannes is a lovely platform. The whole atmosphere of the city, the people, the organisation; it just lends itself to a very fantastic atmosphere. The amount of respect they give to the artists, makers, to films per se." - IANS

Kavita Srinivasan keen on action films

Having played an antagonist in her forthcoming Telugu film Kalicharan, the southern actress Kavita Srinivasan wants to try her hand at a new genre. "I don't want to restrict myself to certain roles, but I'm keen to do action roles," she said. "I would love to do some kick-boxing and would be more than happy to do roles that may involve some physical training." Srinivasan said her Telugu debut happened by chance and she has her sights set on Bollywood. "I don't want to discard any industry, but I want to concentrate on Hindi films," she said. - IANS

Ranbir reunites with Anurag Basu

After impressing audiences with his performance as the mute character Barfi in Anurag Basu's film of the same name, Ranbir Kapoor is set to play a detective in the director's next film, titled Jagga Jasoos. The 30-year-old star credits his success to his late screen-legend grandfather, who died 25 years ago. "I am standing here because of Raj Kapoor. He showed me the way," said Ranbir. "I hope he would be smiling at me watching me in the films that I am doing and he is proud of me." - IANS

Kashmir minister upset about Yeh Jawani Hai Deewani attribution

Omar Abdullah, the chief minister of Jammu and Kashmir, is disappointed that shots in the new romantic comedy Yeh Jawani Hai Deewani were attributed to Manali while they were filmed in north Kashmir's Gulmarg. "It is irritating when we roll out the red carpet and facilitate the shoot only to have people believe it's Manali #YJHD," Abdullah posted on Twitter on Saturday. "If anyone has seen the movie, can you tell me whether they have at least mentioned the state in the credits #YJHD." The film stars Ranbir Kapoor and Deepika Padukone. - IANS

Pooja Kumar performs own stunts

As a certified scuba diver, the actress Pooja Kumar performed her own underwater stunts in Kamal Haasan's forthcoming drama Vishwaroopam 2. Kumar plays Nirupama, a nuclear oncologist and wife of Haasan's character. The movie, which is currently being shot in Bangkok, is the sequel to Vishwaroopam, filmed predominantly in Afghanistan and the US, and which was released in January. Alongside Kumar, the new movie also features Rahul Bose, Andrea Jeremiah, Jaideep Ahlawat and Shekhar Kapur. - IANS

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The flights
The closest international airport to the TMB trail is Geneva (just over an hour’s drive from the French ski town of Chamonix where most people start and end the walk). Direct flights from the UAE to Geneva are available with Etihad and Emirates from about Dh2,790 including taxes.

The trek
The Tour du Mont Blanc takes about 10 to 14 days to complete if walked in its entirety, but by using the services of a tour operator such as Raw Travel, a shorter “highlights” version allows you to complete the best of the route in a week, from Dh6,750 per person. The trails are blocked by snow from about late October to early May. Most people walk in July and August, but be warned that trails are often uncomfortably busy at this time and it can be very hot. The prime months are June and September.

 

 

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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.”

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Winners: Dubai Hurricanes
Runners up: Bahrain

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