Holly to Bolly: Robert De Niro opens Sarajevo Film Festival, funerals held for Prince, and more


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Robert De Niro opens Sarajevo Film Festival

On Friday, Robert De Niro opened the Sarajevo Film Festival, which in turn honoured the star with a lifetime achievement award. The 72-year-old actor, who has starred in more than 100 films, received the event's Heart of Sarajevo award at an open-air viewing of Taxi Driver, one of his earliest films. De Niro earned an Oscar nomination for the 1976 film, directed by Martin Scorsese. More than 200 films will be screened at the 22nd edition of the festival, which runs until August 20 in the Bosnian capital. Created as an "act of resistance" during the 1992-95 siege of Sarajevo, the festival has regularly attracted big-name guests such as Angelina Jolie, Brad Pitt, Juliette Binoche and Jeremy Irons. Eight films will compete for the best film prize, which will be awarded by a jury led by Palestinian filmmaker Elia Suleiman. – AFP

Bon Jovi announce album without Richie Sambora

Bon Jovi have revealed that their new album – the first in the group's three-decade history without guitarist Richie Sambora – will be released on October 21. This House is Not for Sale is the 14th studio album from the New Jersey rockers and the first since the seemingly amicable departure in 2013 of lead guitarist Sambora, a long-time fixture in the group along with frontman Jon Bon Jovi. Sambora said he wanted to devote more time to his family rather than embark on another lengthy arena tour for which Bon Jovi is famous. Sambora last year told the site Ultimate Guitar Rock that his decision was also about music, as he felt "starved" for more improvisation and innovation after playing Bon Jovi's hits for so long. – AFP

New Rogue One trailer features Darth Vader

The second trailer for Rogue One: A Star Wars Story has been released, giving fans the first new – brief – footage of Darth Vader in more than a decade. The 135-second teaser also includes sweeping space-scapes, Imperial battleships, laser fire and Forest Whitaker. The highlight is a one-second cameo by Darth Vader, his back to the camera. It is the first glimpse of the character since the release of Revenge of the Sith, the third of George Lucas's prequel movies, in 2005. The first stand-alone Star Wars story, Rogue One is set just before 1977's A New Hope, the first film in the series. It stars Felicity Jones, Mads Mikkelsen and Whitaker and tells the story of the mission to steal the plans for the first Death Star. The film is due for release on December 16 in the united States. – AFP

US defense department says no to Pokemon Go

United States Department of Defense officials have ordered employees not to download Pokemon Go onto government-issued smartphones. “You can imagine a number of reasons [why] that wouldn’t necessarily be a prudent thing to do,” said Pentagon deputy press secretary Gordon Trowbridge. “Aside from any security concerns, I think taxpayers would appreciate government phones being used for government business.” Pokemon Go is an augmented-­reality app through which users hunt digitised creatures such as the furry yellow Pikachu, which have been scattered around their location. The game has become a global craze, with crowds of players dashing to locations to try to snag rare characters. Several military installations have warned troops about the possible perils of playing Pokemon Go on bases, including near runways. – AFP

Cricketer Dhoni snubs press at trailer launch

Cricketer Mahendra Singh Dhoni left the trailer launch of the film M S Dhoni: The Untold Story – a film based on his life story – without speaking to the media. When journalists asked director Neeraj Pandey the reason for the sportsman's quick exit, he said: "That's not my call, as you would understand, and it's not my place to answer on his behalf also. He is an individual who has his own choices. I don't know what the reason is." In a packed hall of fans and media, Dhoni did answer some questions posed by fans, but then left immediately. The film, starring Sushant Singh Rajput as the captain of the Indian cricket team, also features Anupam Kher, Bhumika Chawla, Rajesh Sharma and Kiara Advani, and is due for release in India on September 30. – IANS

Funerals held for Prince

Family members and close friends gathered at a Minneapolis church on Friday for a memorial to Prince. Another private service was held on Saturday at the musician’s Paisley Park home. A relative said the family is doing its best to preserve Prince’s image, as others have come forward with false stories about the superstar. Prince died on April 21 of an accidental drug overdose at the age of 57. A public tribute to the singer and musician is scheduled for October at US Bank Stadium in Minneapolis. – AP

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet

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.”

Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

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

The biog

Name: Mariam Ketait

Emirate: Dubai

Hobbies: I enjoy travelling, experiencing new things, painting, reading, flying, and the French language

Favourite quote: "Be the change you wish to see" - unknown

Favourite activity: Connecting with different cultures

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
ESSENTIALS

The flights

Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes. 

The trip

From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.

Babumoshai Bandookbaaz

Director: Kushan Nandy

Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami

Three stars

Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.