Holly to Bolly: Guru Randhawa’s single Fashion is a smash hit on YouTube and Kanika Kapoor attends Milan Fashion Week



Punjabi singer Guru Randhawa's new single, Fashion, has racked up almost two million views on YouTube in just five days. The song, which was uploaded on September 20, has been watched more than 1,750,000 times. "My concern has always been to write songs that my audience, my fans are able to identify with." says Randhawa. "Fashion is another such creation that is based completely on the present day scenario. The song has been beautifully shot in Canada and directed by Baljit Singh Deo. With so many online shopping websites, fashion is now more easily accessible and can be recreated more innovatively." – IANS

Kanika Kapoor attends Milan Fashion Week

Singer Kanika Kapoor was spotted in the front row at fashion designer Roberto Cavalli's show at Milan Fashion Week. The Baby Doll hitmaker also attended a private dinner hosted by Fendi, an exclusive gathering of celebrities and VIPs from the world of fashion. "Milan Fashion Week holds a special place in my heart," says Kapoor. "It's not often that Bollywood and European fashion cross paths so closely. It was an honour to meet such fashion influencers at the dinner." The performer's schedule in the Italian city also includes Versace and Dolce and Gabbana's fashion shows, followed by a dinner party hosted by Tod's. – IANS

Daniel Radcliffe not keen to revisit Harry Potter

Pottermania show's no sign of fading anytime soon, thanks to upcoming spin-off film Fantastic Beasts and Where To Find Them, and hit London play Harry Potter and the Cursed Child, but actor Daniel Radcliffe says he has no interest in a return to his role as the boy wizard. When asked about rumours of a possible movie version of the play, 27-year-old Radcliffe said that he had not heard about any plans. "Nobody has said anything to me about ...revitalising the films, so I don't know," he said. "It's not something I think I'd be interested in – and also if they do it now, I feel they should just cast the people from the play." Radcliffe was in London to open a three-day festival of films and family activities, including screenings of his two most recent indie movies, Swiss Army Man and Imperium. – Reuters

Backstreet Boys confirm Las Vegas residency

The Backstreet Boys have confirmed that they will begin a concert residency next year at Planet Hollywood in Las Vegas. The Backstreet Boys: Larger Than Life show will feature group members Nick Carter, Howie Dorough, Brian Littrell, AJ McLean and Kevin Richardson. "We're going to call the show 'Larger Than Life', and we're taking that theme and we're going to run with it," said Richardson. Littrell said of the show – which is scheduled to run from March to July – that it will be like a typical Backstreet Boys concert "on steroids". The first performance will be on March 1. Tickets will go on sale on October 1. The event will be held in the same theatre where Britney Spears and Jennifer Lopez performed their Vegas residencies. The Backstreet Boys formed 1993 and their best-known hits include I Want It That Way, As Long as You Love Me and Everybody (Backstreet's Back). – AP

Actor killed at home of talk-show host

An actor was found dead at the Los Angeles home of talk-show host George Stroumboulopoulos. The body of Richard Hong, 41, was discovered at the house by officers responding to reports of an early-morning burglary, and reports of a man in a black jacket running away. "Officers were directed to a male, the apparent victim of a homicide," said a Los Angeles Police Department spokeswoman. The suspect remains free despite a search of the neighbourhood. A coroner's spokesman said that the victim had sustained a head trauma. Wong had a handful of supporting roles in TV shows and films. Stroumboulopoulos, who is also Canadian, was in New York at the time of the death. "Many of you have seen the reports of a homicide which occurred early this morning in the home I rent in Los Angeles," he wrote on Twitter on September 23. "I only have a few details but it seems like it was the result of a break in. The victim was a dear friend of mine, who was staying at my place while I was away. I am heart-broken." He said that he was sending the message from a plane flying to Los Angeles from New York "so I can be with my friends there, who are also devastated". Stroumboulopoulos, 44, is best known as the host of a Canadian Broadcasting Corporation talk show, George Stroumboulopoulos Tonight. – Reuters

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Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

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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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
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