Jennifer Lopez. Rick Scuteri / Invision / AP Photo
Jennifer Lopez. Rick Scuteri / Invision / AP Photo
Jennifer Lopez. Rick Scuteri / Invision / AP Photo
Jennifer Lopez. Rick Scuteri / Invision / AP Photo

Mohammed Assaf won by more than a million votes


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The Arab Idol winner Mohammed Assaf won the talent show by more than a million votes. The revelation came yesterday in a press conference held in Dubai featuring Assaf and the broadcaster MBC. While not revealing the final voting tally or who came in second and third place, the MBC spokesperson Mazen Hayek admitted Assaf won by a resounding margin. "The gap between first and second place was not hundreds of thousands but it was by over a million votes," he said. Being a fan of his fellow finalists, Egypt's Ahmad Gamal and Syria's Farah Youssif, Assaf said he would have voted for Youssif if forced to make a choice. "I am a big fan of Farah and I respect her voice," said the 23-year-old. "Ahmad has a great sensitivity to his voice but if I wasn't involved in the show and I was a television viewer I would have voted for Farah."

Saif Ali Khan has signed on for triple roles in a comedy titled Humshakals (Doppelganger), directed by Sajid Khan. The film, co-produced by Fox Star Studios and Vashu Bhagnani's Puja Entertainment, offers a brand of comedy synonymous with Khan. It will also feature two other male leads. IANS reports that Ram Kapoor and Riteish Deshmukh also have triple roles in the film. – The National staff

Jennifer Lopez sang Happy Birthday on Sunday to Turkmenistan's leader Gurbanguly Berdymukhamedov in a lavish celebration at a Caspian Sea resort in the Central Asian state. J?Lo is believed to be the first major western star to visit the isolated former Soviet republic. The singer sang and danced in the rare performance, watched by ministers, ambassadors and chief executives of state-owned companies, all of whom applauded enthusiastically. She later appeared in a traditional Turkmen dress to sing Happy Birthday, Mr President along with stars from Russia, Ukraine, Turkey and China. Ahead of the show, members of Lopez's entourage were busy tweeting. "I wonder where all my Turkmenistan followers are!? Hit me up!" her choreographer J?R Taylor wrote on his Twitter account, noting that: "The Turkmenistan breeze feels amazing at night." – AFP

Pras Michel is open to a Fugees reunion. The American rapper and one third of the seminal hip-hop group performed at Dubai's People by Crystal on Saturday. He said his performance was part of his musical comeback, which includes a new album to be out later in the year. The release would mark his first album in more than eight years. "I want to make it a surprise when it comes out," said the 40 year old. "It will be something that people won't expect and that really excites me." As for the Fugees reuniting, Pras said he's always up for it. "I thank God for the Fugees every day because I wouldn't be here without them," he said. "Wyclef [Jean] and Lauryn [Hill] are both in a good place right now. So if the time and the vibe are right, then I say why not?" – The National staff

Avril Lavigne married the Nickelback vocalist Chad Kroeger on Saturday in Cannes, France, reported Us Weekly. A source described the wedding as a "very intimate affair". Lavigne told reporters at a Nylon magazine event earlier this month that their wedding song would be a new track that they wrote together. "We'll have to release it after," Lavigne said. This will be Kroeger's first marriage and Lavigne's second. She filed for divorce from the Sum 41 singer Deryck Whibley in October 2009 after three years of marriage. – The National staff

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Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

POSSIBLE ENGLAND EURO 2020 SQUAD

Goalkeepers: Jordan Pickford, Nick Pope, Dean Henderson.
Defenders: Trent Alexander-Arnold, Kieran Trippier, Joe Gomez, John Stones, Harry Maguire, Tyrone Mings, Ben Chilwell, Fabian Delph.
Midfielders: Declan Rice, Harry Winks, Jordan Henderson, Ross Barkley, Mason Mount, Alex Oxlade-Chamberlain.
Forwards: Harry Kane, Raheem Sterling, Marcus Rashford, Jadon Sancho, Tammy Abraham, Callum Hudson-Odoi.

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

MATCH INFO

Liverpool 4 (Salah (pen 4, 33', & pen 88', Van Dijk (20')

Leeds United 3 (Harrison 12', Bamford 30', Klich 66')

Man of the match Mohamed Salah (Liverpool)

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.”

LILO & STITCH

Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders

Director: Dean Fleischer Camp

Rating: 4.5/5

Captain Marvel

Director: Anna Boden, Ryan Fleck

Starring: Brie Larson, Samuel L Jackson, Jude Law,  Ben Mendelsohn

4/5 stars

What are the influencer academy modules?
  1. Mastery of audio-visual content creation. 
  2. Cinematography, shots and movement.
  3. All aspects of post-production.
  4. Emerging technologies and VFX with AI and CGI.
  5. Understanding of marketing objectives and audience engagement.
  6. Tourism industry knowledge.
  7. Professional ethics.
Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

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Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

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Tips for taking the metro

- set out well ahead of time

- make sure you have at least Dh15 on you Nol card, as there could be big queues for top-up machines

- enter the right cabin. The train may be too busy to move between carriages once you're on

- don't carry too much luggage and tuck it under a seat to make room for fellow passengers