OneRepublic will be among the headline acts of the Emirates Airline Dubai Jazz Festival. Courtesy Chillout Productions
OneRepublic will be among the headline acts of the Emirates Airline Dubai Jazz Festival. Courtesy Chillout Productions
OneRepublic will be among the headline acts of the Emirates Airline Dubai Jazz Festival. Courtesy Chillout Productions
OneRepublic will be among the headline acts of the Emirates Airline Dubai Jazz Festival. Courtesy Chillout Productions

OneRepublic to play February gig in Dubai


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The American pop-rock band OneRepublic will join Deep Purple and 3 Doors Down as the headline acts of the 11th Emirates Airline Dubai Jazz Festival. OneRepublic will perform on February 14 at Festival Park, Dubai Festival City. In August the band released a new track, Feel Again, part of their forthcoming new album. For more information, visit www.dubaijazzfest.com. * The National staff

Singer Jenni Rivera dies in plane crash

The Mexican-American singer Jenni Rivera died in a plane crash after the small jet she was travelling in went down in northern Mexico. Speaking after the wreckage was discovered, the singer's father, Pedro Rivera, told Telemundo television that all seven of the people on board the plane, including two pilots, had died. It was not clear what caused the crash. Rivera, 43, was heading for the city of Toluca in central Mexico after a concert in Monterrey on Saturday. Born in California, she sold some 15 million records in her career and received Grammy nominations. * Reuters

Amour takes top prize from LA film critics

Michael Haneke's French-language drama Amour was chosen on Sunday as the year's best film by the Los Angeles Film Critics Association, whose prizes are among a flurry of year-end honours that help sort out the Oscars race. The 1950s-set cult drama The Master earned four awards: Best Director for Paul Thomas Anderson, Best Actor for Joaquin Phoenix, Best Supporting Actress for Amy Adams and Best Production Design. Amour's star Emmanuelle Riva, who plays an elderly woman being cared for by her husband, shared the Best Actress honour in a tie with Jennifer Lawrence of Silver Linings Playbook. The newcomer Dwight Henry was chosen as Best Supporting Actor for Beasts of the Southern Wild. The Best Screenplay award went to Ben Affleck's Iran hostage-crisis thriller Argo. Next up on Hollywood's awards calendar are the Screen Actors Guild nominations tomorrow and the Golden Globe nominations on Thursday. * AP

Cheryl Cole sues The X Factor US over firing

Cheryl Cole has sued The X Factor US for US$2.3 million (Dh8.4m) for not paying dues after sacking her as a judge last year. The British pop star was fired by Simon Cowell after filming just two audition episodes. The lawsuit claims her contract guaranteed remuneration even if she was taken off the show. Aside from the $2m salary she was supposed to receive for the show's second season, Cole is asking for miscellaneous expenses promised, such as wardrobe, travel and living expenses. *IANS

Rolling Stones play first US show of anniversary tour

The Rolling Stones were in rollicking form as they rocked the Barclays Center in Brooklyn on Saturday, their first US show on a tour marking 50 years as a rock band. "People ask us why we've been doing this for so long," said Mick Jagger, thanking the crowd for its loyalty. "The answer is we do it for you." Jagger was joined by the guitarists Keith Richards and Ronnie Wood, and the drummer Charlie Watts. Mary J Blige performed Gimme Shelter with Jagger. The band played 23 songs, including two new ones, then closed the show with Satisfaction. * AP

Senator to MTV: cancel Buck Wild series

The US Senator Joe Manchin is asking MTV to cancel the West Virginia-based reality show Buck Wild, scheduled to air on January 3. Manchin said the show profits from "poor decisions of our youth" and plays to inaccurate stereotypes about the people of his home state. A trailer of the series shows the cast driving four-wheelers, fighting and using a dumper truck as a pool. * AP

The Florida Project

Director: Sean Baker

Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe

Four stars

Wonka
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%C2%A0Paul%20King%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%C2%A0%3C%2Fstrong%3ETimothee%20Chalamet%2C%20Olivia%20Colman%2C%20Hugh%20Grant%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
How to book

Call DHA on 800342

Once you are registered, you will receive a confirmation text message

Present the SMS and your Emirates ID at the centre
DHA medical personnel will take a nasal swab

Check results within 48 hours on the DHA app under ‘Lab Results’ and then ‘Patient Services’

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

Profile

Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari

Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.

Number of employees: Over 50

Financing stage: Series B currently being finalised

Investors: Series A - Audacia Capital 

Sector of operation: Transport

Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Neo%20Mobility%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20February%202023%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Abhishek%20Shah%20and%20Anish%20Garg%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Logistics%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Delta%20Corp%2C%20Pyse%20Sustainability%20Fund%2C%20angel%20investors%3C%2Fp%3E%0A
SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%202-litre%204-cylinder%20turbo%20and%203.6-litre%20V6%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20automatic%0D%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20235hp%20and%20310hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E258Nm%20and%20271Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh185%2C100%0D%3Cbr%3E%3C%2Fp%3E%0A
The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet

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.”