Hany Abu-Assad’s The Idol (Ya Tayr El Tayer). Courtesy TIFF
Hany Abu-Assad’s The Idol (Ya Tayr El Tayer). Courtesy TIFF
Hany Abu-Assad’s The Idol (Ya Tayr El Tayer). Courtesy TIFF
Hany Abu-Assad’s The Idol (Ya Tayr El Tayer). Courtesy TIFF

Mohammed Assaf’s film will debut at Toronto film festival


Saeed Saeed
  • English
  • Arabic

A week after Palestinian singer Mohammed Assaf revealed his upcoming biopic will debut at the upcoming Toronto International Film Festival, event organisers confirmed the news as they announced this year’s programme.

The Idol (Ya Tayr El Tayer), directed by Oscar-nominated Palestinian filmmaker Hany Abu-Assad, is loosely based on Assaf's life and follows his journey from growing up in Gaza to becoming an Arab music ­superstar. In an exclusive interview with The National recently, Assaf said he plans to attend the premiere in Canada and hopes the film inspires viewers.

“The main theme of the film is success, how one can achieve it when you are surrounded by obstacles – which in my case remains the occupation and wars – and how despite all of these things, you can still make something out of yourself if you strive hard and have the support of family and friends, who provide you with hope,” he said.

“The film affected me deeply when I watched it – it made me laugh, I also cried and I ­connected with all of the ­characters in it.”

Other festival highlights of particular interest to regional audiences include Meghna Gulzar's Guilty (Talwar), ­starring Irrfan Khan, a drama about a mystery surrounding a 14-year-old's death and whether or not it is related to the controversial practice of honour killings. The film will be screened as part of the ­festival's Special Presentations ­programme.

Also on the programme is The Septembers of Shiraz, ­starring Salma Hayek. The drama, directed by Wayne Blair, is set in Iran during the 1979 revolution and follows the plight of a young Jewish woman whose father is arrested on suspicion of being a spy. The cast also includes Shohreh Aghdashloo and Adrien Brody.

Documentary filmmaker ­Michael Moore's first film in six years, Where to Invade Next, will also premiere. Little is known about the film, but festival ­organisers say it may be the Fahrenheit 9/11 director's "most provocative and hilarious movie yet".

sasaeed@thenational.ae

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Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

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Stay indoors when conditions are particularly poor.

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Results

5pm: Maiden (PA) Dh80,000 (Turf) 1,200m, Winner: ES Rubban, Antonio Fresu (jockey), Ibrahim Aseel (trainer)

5.30pm: Handicap (PA) Dh85,000 (T) 1,200m, Winner: Al Mobher, Sczcepan Mazur, Ibrahim Al Hadhrami

6pm: Handicap (PA) Dh80,000 (T) 2,200m, Winner: Jabalini, Tadhg O’Shea, Ibrahim Al Hadhrami

6.30pm: Wathba Stallions Cup (PA) Dh70,000 (T) 2,200m, Winner: AF Abahe, Tadgh O’Shea, Ernst Oertel

7pm: Handicap (PA) Dh85,000 (T) 1,600m, Winner: AF Makerah, Tadhg O’Shea, Ernst Oertel

7.30pm: Maiden (TB) Dh80,000 (T) 1,600m, Winner: Law Of Peace, Tadhg O’Shea, Satish Seemar

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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