Side by Side Gallery in Berlin is hosting a potential game changer of an exhibition in terms of Saudi Arabian Art.
After meeting Stephen Stapleton the founder of Edge of Arabia and Abdulnasser Gharem, a prominent Saudi artist in Sharjah, Akim Monet agreed for his gallery in the German capital to be used as a launching point for an artist-run foundation in Riyadh.
Amen Art Foundation, Towards an Art Foundation in Riyadh will run until mid-July and will feature Gharem's work as well as an open call for contributions and ideas towards his goal.
In a statement accompanying the exhibition launch, Monet says the meeting with Stapleton and Gharem was a "fortuitous encounter" that and that the grass-roots artistic movement in Saudi Arabia was of "momentous" importance. "In considering the deep cultural changes occurring in the Greater Middle East, with the establishment of Dubai as a major Asian hub and as a crossroad between east and west, and the very vibrant art-scene between Cairo, Beirut and Istanbul on the Levantine side, Tehran, further east, and Sharjah and Doha to the south, one cannot escape the fact that the big brother, the uncle and the father in some cases is Saudi Arabia," he said.
In that respect he has offered his gallery as "a laboratory, as a public workshop, as a forum to present the idea, but also as a platform through which to develop the project."
* Amen Art Foundation, Towards an Art Foundation in Riyadh will run until July 13 at Side by Side Gallery in Berlin
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
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Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi
Yadoo’s House Restaurant & Cafe
For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.
Golden Dallah
For the cappuccino, luqaimat and aseeda.
Al Mrzab Restaurant
For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.
Al Derwaza
For the fish hubul, regag bread, biryani and special seafood soup.
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
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Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
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US households add $601bn of debt in 2019
American households borrowed another $601 billion (Dh2.2bn) in 2019, the largest yearly gain since 2007, just before the global financial crisis, according to February data from the New York Federal Reserve Bank.
Fuelled by rising mortgage debt as homebuyers continued to take advantage of low interest rates, the increase last year brought total household debt to a record high, surpassing the previous peak reached in 2008 just before the market crash, according to the report.
Following the 22nd straight quarter of growth, American household debt swelled to $14.15 trillion by the end of 2019, the New York Fed said in its quarterly report.
In the final three months of the year, new home loans jumped to their highest volume since the fourth quarter of 2005, while credit cards and auto loans also added to the increase.
The bad debt load is taking its toll on some households, and the New York Fed warned that more and more credit card borrowers — particularly young people — were falling behind on their payments.
"Younger borrowers, who are disproportionately likely to have credit cards and student loans as their primary form of debt, struggle more than others with on-time repayment," New York Fed researchers said.
Europe wide
Some of French groups are threatening Friday to continue their journey to Brussels, the capital of Belgium and the European Union, and to meet up with drivers from other countries on Monday.
Belgian authorities joined French police in banning the threatened blockade. A similar lorry cavalcade was planned for Friday in Vienna but cancelled after authorities prohibited it.
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Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
Favourite Motto: Their happiness is your happiness
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What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
