The Shadows, a star-studded Arab theatre and poetry spectacular being staged in Sharjah tomorrow, promises to take audiences on a musical journey across the region.
The cast of the show, at the picturesque Al Majaz Amphitheatre, includes the latest Arab Idol winner, Hazem Sharif, and the Lebanese singer Carole Aoun.
The writer and performer Nadine Al Assad says the project started out as a small poetry gig featuring local stars.
“It was supposed to be another normal poetry night where we bring people to perform with a musical backdrop,” she says. “But composer Khaled El Sheikh and myself kept coming up with more ideas until it became this rather big thing that we have here.”
The dreamlike plot of The Shadows, with music by the Syrian folk group Inana, follows the actors and singers as they explore the region's artistic riches while travelling from the GCC to the Levant.
Al Assad has a successful job hosting entertainment programmes for the Beirut-based Al Jadeed TV, but she is also an acclaimed poet whose collection, Wings of Desire, was published in 2012.
She says the escapist storyline of The Shadows mirrors her passion for poetry.
“We are living in a very turbulent period, where troubles not only occur in the Middle East but all over the world,” she says.
“The only place that is removed from all of this strife is my world of poetry. It is a place where there is love, safety, passion and inspiration. I want to take audience members on that journey and to experience that dreamlike atmosphere.”
Joining her on the voyage is The Shadows' biggest star, Sharif. It was a coup, Al Assad acknowledges, for the 21-year-old to sign up for such an ambitious project fresh after winning the third season of Arab Idol in December. But he was not offered the role simply because of his high profile.
“We were looking for a great voice that can enhance the material,” she says. “We could have got plenty of big stars but we felt that some of them wouldn’t suit it.
“You need a special voice to sing poetry because it is totally different than performing a pop or folk song. Hazem has this resonant voice that can do that; it’s heavy and very emotive.”
No stranger to interviewing celebrities in her television career, Al Assad says she was impressed by Sharif’s down-to-earth nature despite all the hype and attention.
“He is very impressive in that he is serious and dedicated,” she says. “He works very hard and he has a personality that is very grounded.”
Al Assad hopes The Shadows will pave the way for similar productions in Sharjah.
“The emirate has become a beacon for culture, fraternity and humanity,” she says. “I hope it will be well received by the audience as a new art genre in the region.”
• The Shadows is at Al Majaz Amphitheatre, Sharjah, on Friday, February 27, at 9pm. Tickets, from Dh100, are available at www.ticketmaster.ae
[ sasaeed@thenational.ae ]
WHAT MACRO FACTORS ARE IMPACTING META TECH MARKETS?
• Looming global slowdown and recession in key economies
• Russia-Ukraine war
• Interest rate hikes and the rising cost of debt servicing
• Oil price volatility
• Persisting inflationary pressures
• Exchange rate fluctuations
• Shortage of labour/skills
• A resurgence of Covid?
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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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Starring: Taron Egerton, Richard Madden, Jamie Bell
Rating: 3 out of 5 stars
The Super Mario Bros Movie
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Results
Dubai Exiles 24-28 Jebel Ali Dragons
Abu Dhabi Harlequins 43-27 Dubai Hurricanes
Fixture
Friday, March 29, Abu Dhabi Harlequins v Jebel Ali Dragons, The Sevens, Dubai
The biog
Fatima Al Darmaki is an Emirati widow with three children
She has received 46 certificates of appreciation and excellence throughout her career
She won the 'ideal mother' category at the Minister of Interior Awards for Excellence
Her favourite food is Harees, a slow-cooked porridge-like dish made from boiled wheat berries mixed with chicken
Company Profile
Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000
