Lecture series prepares way for Louvre Abu Dhabi shows


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There's a consensus nowadays on what a statue of the Buddha should look like. But Wednesday night's lecture, part of the Louvre Abu Dhabi Talking Art series at Manarat Al Saadiyat, will show that getting to this final image has taken thousands of years and influences.

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After last month's inaugural lecture, "Funerary Art, Architecture and Rituals in Pharaonic Egypt", the series continues with a broad look at the history of Buddhist art in India.

Two experts in the field lead the evening: Amina Taha Hussein-Okada, the chief curator at Musée Guimet, France's leading museum of Asiatic arts, and Vincent Lefèvre, the curator in charge of Asian arts at Agence France-Muséums.

Since its founding in India in the fifth century BC, Buddhism's incredible monuments and the sophisticated artistry inside its places of worship remain some of the greatest man-made marvels. "Buddhist Art in India" will attempt to show the chronology in the evolution of this rich artistic tradition, bringing in the relief works of temples, mural paintings, stupas (which house the relics of Buddhist saints) and also entire archaeological sites that play key roles in the formation of its history.

To offer a local context, Aisha Bilkhair, a Fulbright post-doctorate fellow at Harvard, will discuss the shared sense for harmonious coexistence and absorption of cultures that connects the way Buddhist art developed with the UAE region's own history.

"While the culture recognises the necessity of tribal values, as well as the poetry, literature and principles of the present system, it's also founded on the importance of talking with others," says Bilkhair, who has dedicated much of her academic career to researching the African diaspora in the Gulf.

Bilkhair is also an academic in the study of the UAE's music and the influences that shaped its style via the various groups that passed through the country over time.

"There was a fusion that took place in music and food, for instance, between the local population and those who came here to work."

Bilkhair will explain this concept in a lecture, making reference to some of the examples of how the UAE has accumulated various cultural influences. "In Emirati music, we can hear the African drum," she says. "These are traces of past experiences."

The Talking Art series has been designed to prepare audiences in the UAE for the sort of exhibitions that can be expected after the Louvre Abu Dhabi opens in 2013.

"The lectures reflect the universality of the museum," says Hend Mana Al Otaiba, the Tourism Development Investment and Company's cultural department representative. "A universal museum covers all centuries and eras, from early civilisations right through to the most recent. Through these exhibitions, you'll be able to see the dialogue that has taken place between these civilisations throughout history."

Louvre Abu Dhabi Talking Art series: 'Buddhist Art in India' is tonight at 6.45, Manarat Al Saadiyat. The event is free. Details at www.artsabudhabi.ae/en.

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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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Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last

Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

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4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m
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5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m
6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m
6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m
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When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

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The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

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  • £100m of government support for startups building AI hardware products
  • £250m to train new AI models
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