Maura Tierney and Dominic West in The Affair. AP Photo / Showtime, Mark Schafer
Maura Tierney and Dominic West in The Affair. AP Photo / Showtime, Mark Schafer

Improvising OK for US actors, but Brits ‘freak out’, says producer



American actors don’t always stick to the script the way their counterparts from the United Kingdom do, but that’s OK, according to two top writer-­producers.

British actors "really freak out" when given the freedom to change their lines, Lee Daniels, the executive producer of Fox's hit drama Empire, told a Hollywood Radio and Television Society panel discussion recently in Beverly Hills.

During production of the 2013 film Lee Daniels' The Butler, the veteran British actor Alan Rickman, playing President Ronald Reagan, "was married to the word", according to Daniels.

“I said: ‘You don’t have to say the word.’ And he was like: ‘No, this is the word’,” he said.

He’s willing to acknowledge that his scripts have room for improvement and that actors can add nuance to characters they come to know so well, Daniels said.

Taraji P Henson, who plays the matriarch Cookie Lyon in Empire, will "add a line or word that makes it sparkle", he said.

Sarah Treem, a producer, agreed with Daniels' assessment. A playwright whose other TV credits include House of Cards, she produces the Showtime drama The Affair with a cast that includes the American actors Maura Tierney and Joshua Jackson and, from England, Dominic West and Ruth Wilson.

“British actors really like the text,” she says. “They practise the text, and they’re perfect on the text,” she said.

In contrast, Tierney, a former star of the medical drama ER, is a "genius" at improvising, she added. So much so, the script supervisor asked Treem whether the actress should be told to ­refrain.

“No, let the woman speak,” was Treem’s reply. “She’ll come up with something that is honestly more instinctive and more natural than what’s on the page.”

She noted another difference between nationalities, this time America and France. Treem said that “hate mail” had been posted online after she gave an interview in the United States questioning whether monogamy can hold in a long-term relationship.

“I was on the phone talking with somebody from France about the show and they had this totally different perspective,” said Treem. “It’s great talking to the French.”

At the event, which also included producers from CBS's hit The Good Wife, FX's Fargo and Amazon Studios' Transparent, the panelists were asked about a dream writing project they have yet to pursue.

"I haven't been afraid since Rosemary's Baby or The Exorcist," Daniels said. "And I don't think there's been an African-­American horror movie that's really got me to the bones. I think I'd like to tackle that."

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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Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed

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WHAT IS THE LICENSING PROCESS FOR VARA?

Vara will cater to three categories of companies in Dubai (except the DIFC):

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Category B: Existing legacy virtual asset service providers prior to February 7, 2023, which are required to come under Vara supervision. All operating service proviers in Dubai (excluding the DIFC) fall under Vara’s supervision.

Category C: New applicants seeking a Vara licence or existing applicants adding new activities. All applicants that do not fall under Category A or B can begin the application process through their current or prospective commercial licensor — the DET or Free Zone Authority — or directly through Vara in the instance that they have yet to determine the commercial operating zone in Dubai. 

Company Profile

Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government

A Cat, A Man, and Two Women
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Tamizaki
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How to register as a donor

1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention

2) There are about 11,000 patients in the country in need of organ transplants

3) People must be over 21. Emiratis and residents can register. 

4) The campaign uses the hashtag  #donate_hope

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Stamp duty timeline

December 2014: Former UK chancellor of the Exchequer George Osborne reforms stamp duty land tax (SDLT), replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:

Up to £125,000 – 0%; £125,000 to £250,000 – 2%; £250,000 to £925,000 – 5%; £925,000 to £1.5m: 10%; More than £1.5m – 12%

April 2016: New 3% surcharge applied to any buy-to-let properties or additional homes purchased.

July 2020: Chancellor Rishi Sunak unveils SDLT holiday, with no tax to pay on the first £500,000, with buyers saving up to £15,000.

March 2021: Mr Sunak extends the SDLT holiday at his March 3 budget until the end of June.

April 2021: 2% SDLT surcharge added to property transactions made by overseas buyers.

June 2021: SDLT holiday on transactions up to £500,000 expires on June 30.

July 2021: Tax break on transactions between £125,000 to £250,000 starts on July 1 and runs until September 30.