Jaya Bachchan is reportedly planning a black-tie event for her husband Amitabh's 70th birthday (Thursday, October 11). AFP
Jaya Bachchan is reportedly planning a black-tie event for her husband Amitabh's 70th birthday (Thursday, October 11). AFP
Jaya Bachchan is reportedly planning a black-tie event for her husband Amitabh's 70th birthday (Thursday, October 11). AFP
Jaya Bachchan is reportedly planning a black-tie event for her husband Amitabh's 70th birthday (Thursday, October 11). AFP

Amitabh Bachchan downplays turning 70

Plus, Prithviraj to focus on Bollywood projects; no stunt doubles for actor Akshay Kumar; Indian Idol winner Chandra tries acting.

The National staff

October 08, 2012

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There's a huge buzz surrounding the celebrations for Amitabh Bachchan's 70th birthday on Thursday, but the Bollywood superstar insists that "it's just another day". "A million interviews, a million good wishes and a million desires of continuance. Birthdays at 70 seem special to some. Just another day for me," Bachchan posted on Twitter on Saturday. Big plans are in store for the actor, with his wife, Jaya Bachchan, reportedly planning an enormous black-tie event that includes a book launch and an exhibition featuring 70 artworks inspired by the actor. * IANS

Prithviraj to focus on Bollywood projects

Promoting his new romantic comedy Aiyyaa, the southern star Prithviraj Sukumaran says he's eager to continue working in Bollywood. "I want to go slow with southern movies. I will do one to two films a year. So that means three months, and the rest of the time I want to give to my newfound Bollywood career," says the 29-year-old actor. "Regardless of what the film is about, it should be a film which deserves to be made." Aiyaa, written and directed by Sachin Kundalkar, is produced by Anurag Kashyap and features Rani Mukerji. It will be released in India on Friday. * IANS

No stunt doubles for actor Akshay Kumar

The actor Akshay Kumar says he doesn't like using body doubles for his action stunts. "I have always done my stunt scenes on my own. I never allow anybody else to do them. The day I will not be able to do so, I will stop working in action films, I promise you," Kumar, 45, said at a press conference for his new film Khiladi 786. Directed by Ashish Mohan, the film is co-produced by Kumar and also features Asin Thottumkal, Mithun Chakraborty and Paresh Rawal. It will be released in India in December. * IANS

Indian Idol winner Chandra tries acting

The singer Sreeram Chandra, the winner of the fifth season of Indian Idol, will make his big screen debut in the forthcoming film Prema Geema Jantha Nai, which will be produced by Dadi Balabhaskar. "I've been reading different scripts recently but nothing has inspired me as much as this film," says Chandra, 26, who has released chart-topping tracks both in Hindi and Telugu. "When I heard the story, I knew this film will definitely make an impact, so I signed on." The movie is scheduled to begin shooting this month. * IANS

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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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Australia (15-1): Israel Folau; Dane Haylett-Petty, Reece Hodge, Kurtley Beale, Marika Koroibete; Bernard Foley, Will Genia; David Pocock, Michael Hooper (capt), Lukhan Tui; Adam Coleman, Izack Rodda; Sekope Kepu, Tatafu Polota-Nau, Tom Robertson.

Replacements: Tolu Latu, Allan Alaalatoa, Taniela Tupou, Rob Simmons, Pete Samu, Nick Phipps, Matt Toomua, Jack Maddocks.

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Five ways to get fit like Craig David (we tried for seven but ran out of time)

Start the week as you mean to go on. So get your training on strong on a Monday.

Train hard, but don’t take it all so seriously that it gets to the point where you’re not having fun and enjoying your friends and your family and going out for nice meals and doing that stuff.

Think about what you’re training or eating a certain way for — don’t, for example, get a six-pack to impress somebody else or lose weight to conform to society’s norms. It’s all nonsense.

Get your priorities right.

And last but not least, you should always, always chill on Sundays.

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

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