Old-time sounds made new again: Mumford & Sons


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"Do I eschew the modern world?" ponders Ted Dwayne, the double bassist in the hot folk music troupe Mumford & Sons. "Well, I am wearing a waistcoat right now, I admit, but I also own an iPhone. Does that count?" It probably does. The group's members - Marcus Mumford, 22, (vocals, guitar, drums), Winston Marshall, 21, (vocals, banjo, dobro), Ben Lovett, 22, (vocals, keyboards, organ) and Dwayne, 25, (vocals, double bass) - are unafraid to sport shabby tweed jackets, onstage and off. "They're warm but hard to wash," Dwayne says.
They play acoustic instruments including the mandolin and banjo, and they occasionally sport moustaches. Many of their songs lean on the 1970s work of British folk musicians such as John Martyn, Nick Drake and Pentangle. They are also fans of bluegrass, country and jazz. The "trad" music and clothes seem at odds with their youth. Dwayne admits he finds much modern music a bore. "Electronic music or a DJ playing CDs doesn't excite me," he says. "Acoustic instruments are really raw and have a much bigger energy. That is something I can understand."
The band's debut album, Sigh No More, was released in the UK in October (the title was inspired by Shakespeare's Much Ado About Nothing). On the standout melodies Winter Winds, Little Lion Man and Sigh No More, the band's beefy arrangements are the perfect match for Mumford's gruff vocals. The group has injected real excitement into a tweedy musical genre. Reviews have been positive: the NME described Mumford & Sons as "a band who know they're onto something not just good, but spectacular", and Q Magazine said the album "swings from arresting fragility to hearty dynamics". The Guardian called them "Coldplay reincarnated as hillbillies".
But occasionally Mumford's songs of heartbreak and loss seem rather heavy to be sung by someone who is 22 years old. Perhaps that is why the band has sometimes polarised opinion. One reviewer snootily said Mumford & Sons name sounded like a "defunct timber supply yard", while another suggested the album was not a patch on the frenzied live performances that the band thrilled UK festival audiences with last year.
With characteristic even-handedness, Dwayne has taken these comments on board. "We have been criticised for not capturing our live energy," he says. "That is a problem. We call ourselves a live band and we are a live band. That's why a lot of the songs start slow and build into a big finish. Our songs are four to the floor so it's easy to get involved. When we play live people are really up for it."
Sigh No More was made in four weeks and produced by Markus Dravs, who also twiddled knobs on Neon Bible, the breakthrough album for the apocalyptic folk heroes Arcade Fire, another key influence for Mumford & Sons. Dravs imposed musical structure and discipline on the self-confessed chaotic band. "He really took the helm," says Dwayne. He also emphasised the band's backing vocals. Dwayne agrees that the ability to perform backup vocals live can be a surprisingly reliable way to predict whether a band has what it takes to reach the top. Tellingly, in Mumford & Sons, everyone sings.
"I was never a singer before," Dwayne says, "but singing backing vocals has given me the greatest joy in the world. Singing harmonies with your friends is a powerful thing." Unusually for a hot rock band, the group's members paid for the album sessions themselves - almost. "It cost between £10,000 and £20,000," Dwayne says vaguely, before admitting, "actually, our manager paid for it." (He was reimbursed when the band signed to Island Records.) It turned out to be a crucial decision. With no major record company on board, there was no A&R man in the studio advising the band which songs they should or should not record, which is usually the case with new bands.
"What you hear is exactly the music we wanted to make without reference to anybody else," Dwayne says. Mumford & Sons will tour the US next month, and Sigh No More will be released in the US on March 2. Although they have performed at the South by Southwest and CMJ musical festivals in Austin and New York, respectively, Dwayne says the band members are nervous about taking their banjo-driven songs to America, home of all the music they love.
"We are looking forward to going but we are a bit worried," he says. "Winston, who plays banjo for us, is concerned that there will be better banjo players than him in the audience everywhere we play. The last time we played there, he hid at the back of the stage." Their record company hopes that Mumford & Sons rootsy rock could strike a chord in the US, where "authentic" acts such as Dave Matthews are wildly successful. (Time Out New York has already given the band the thumbs-up, saying: "The Brit combo has a spine-tingling way with harmony.") Yet for Dwayne, the fact the band is playing America at all means they have already surpassed his wildest ambitions.
"I never thought we'd have an album in the shops," he says. "It's a dream come true to be able to survive off the music we want to make with no compromise." But would he stick to his guns if their fans tired of their folky ways? "It's important to embrace what is going on, but not jump on any old bandwagon," Dwayne says. "That is our mantra. Everything we do is haphazard. There's no planning. We've said yes to every gig we've been offered. But it feels natural. We are comfortable with where we are."

ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

Rating: 4/5

5 of the most-popular Airbnb locations in Dubai

Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:

• Dubai Marina

The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.

Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739 
Two bedroom: Dh627 to Dh960 
Three bedroom: Dh721 to Dh1,104

• Downtown

Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure.  “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."

Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154

• City Walk

The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena.  “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”

Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809 
Two bedroom: Dh682 to Dh1,052 
Three bedroom: Dh784 to Dh1,210 

• Jumeirah Lake Towers

Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.

Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629 
Two bedroom: Dh549 to Dh818 
Three bedroom: Dh631 to Dh941

• Palm Jumeirah

Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.

Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770 
Two bedroom: Dh654 to Dh1,002 
Three bedroom: Dh752 to Dh1,152 

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Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

The specs: 2018 Audi RS5

Price, base: Dh359,200

Engine: 2.9L twin-turbo V6

Transmission: Eight-speed automatic

Power: 450hp at 5,700rpm

Torque: 600Nm at 1,900rpm

Fuel economy, combined: 8.7L / 100km

The Ashes

Results
First Test, Brisbane: Australia won by 10 wickets
Second Test, Adelaide: Australia won by 120 runs
Third Test, Perth: Australia won by an innings and 41 runs
Fourth Test: Melbourne: Drawn
Fifth Test: Australia won by an innings and 123 runs

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If you go

The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.

The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.

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Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

The biog

Favourite food: Tabbouleh, greek salad and sushi

Favourite TV show: That 70s Show

Favourite animal: Ferrets, they are smart, sensitive, playful and loving

Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can

Name of first pet: Eddy, a Persian cat that showed up at our home

Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big

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.”