Bradley Cooper in a scene from American Sniper. Keith Bernstein / Warner Bros Pictures / AP Photo
Bradley Cooper in a scene from American Sniper. Keith Bernstein / Warner Bros Pictures / AP Photo
Bradley Cooper in a scene from American Sniper. Keith Bernstein / Warner Bros Pictures / AP Photo
Bradley Cooper in a scene from American Sniper. Keith Bernstein / Warner Bros Pictures / AP Photo

Controversial Sniper tops US box office for second week


  • English
  • Arabic

Clint Eastwood’s mega-hit American Sniper was the top film at North American movie houses for a second week, despite controversy over what some feel is a jingoistic message and graphic violence. The war drama, based on the true story of Iraq War Navy Seal Chris Kyle, earned US$64.4 million (Dh2.3billion) this weekend, industry estimates showed, after last weekend’s massive haul of nearly $90 million – a record January opening. Nearly half of all movie tickets sold over the weekend were for American Sniper and all told, the film has so far earned more than $200 million since its release, giving it bona fide blockbuster status. – AFP

Abu Dhabi Festival announces special ticket prices

Abu Dhabi Festival fans now have the opportunity to take advantage of discounted and packaged tickets for the month long events beginning on March 3. True to the festival's education ethos, students can save up to 50 percent on tickets for events across the programme, while adults can make use of packaged tickets. Combos includes a jazz concert by legend Sergio Mendes (March 20) and the festival's final concert by Maysaa Karra (April 2). Opera lovers can book a package featuring a performance by tenor Juan Diego Flórez (March 23) and Mozart's Opera The Magic Flute on March 28. All performances mentioned take place at Emirates Palace. Visit www. timeouttickets.com for more details. – The National staff

Palestinian docu wins Doing Good contest

A Palestinian documentary has won a major award in the Doing Good Competition organised by the United Nations Volunteer Program (UNV) and the broadcaster MBC. Lebanon based Palestinian filmmakers Dana Abu Rahma and Jenan Dagher received the Innovation and Creativity gong in a special gala ceremony held recently at Dubai's Sofitel The Palm. Their short documentary, A Folktale of Palestine, focuses on relationships that endured despite the Israeli occupation and uses various story telling techniques ranging from archival material to animation. "All challenges are opportunities if they were treated to create solutions," said the ceremony's special guest, the United Nations Secretary- General's Special Envoy on Youth Ahmad Alhendawi. "The real wealth lies in the existing knowledge of the youth, especially now that we are in dire need of talented youth in this day and age". Held for the second time, the annual Doing Good Competition aims to empower the region's youth and a showcase for their talents. For details go to www.unv.org. – The National staff

Salim Khan rejects top Indian award

Veteran Bollywood screenwriter Salim Khan, Salman Khan’s father, has snubbed the Indian government with his refusal to accept the Padma Shri award, the country’s fourth-highest civilian honour. Khan told the Indian Express that the award doesn’t “match his status and his body of work”. Khan, 79, is best-known for his collaborations with fellow screenwriter Javed Akhtar, who was awarded the Padma Shri in 1999 and the Padma Bhushan (India’s third-highest civilian honour) in 2007. The duo, popularly known as Salim-Javed, wrote the scripts for dozens of films in the 70s and 80s. Meanwhile actors Dilip Kumar and Amitabh Bachchan were among those named for Padma Vibhushan awards, India’s second-highest civilian honour.– The National staff

Shabana Azmi: it’s a good time for women in Indian cinema

Veteran actress/social activist Shabana Azmi has expressed hope for women in Hindi cinema, observing that roles are becoming substantial for them and are being written for all age groups. “I am very hopeful. I feel the roles are becoming substantial in films that are women-centric, and even the films themselves,” Shabana said here Sunday evening at a special session of the Kolkata Literary Meet. “I think it is a very important time for Hindi cinema because roles are being written for all age groups. Earlier 30 was the end of a women’s career. But today the roles are opening up and they are available, so I do think that happy times are here,” she said. – IANS

GIANT REVIEW

Starring: Amir El-Masry, Pierce Brosnan

Director: Athale

Rating: 4/5

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.”

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.8-litre%204-cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E190hp%20at%205%2C200rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20320Nm%20from%201%2C800-5%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%3C%2Fstrong%3E%206.7L%2F100km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh111%2C195%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A