The only surviving original print of the acclaimed 1948 Hindi classic Kalpana, a masterpiece by the director Uday Shankar, would not have existed if not for the relentless efforts and patience of Shivendra Singh Dungarpur, an advertising director with an uncommon penchant for preserving films for posterity.
Dungarpur, along with Martin Scorsese's World Cinema Foundation, helped restore the old film for more than six months at the Immagine Ritrovata laboratory in Bologna. The restored work was screened at this year's Cannes Film Festival, in its Classic section. The film, which critics and historians consider to be an ode to experimental cinema and dance choreography, is now back in India, stored at the National Film Archives of India (NFAI).
"I had seen Kalpana some time ago and it was a great film. When I met Scorsese's people, they said they wanted to do it but because of bureaucracy, they gave up," says the 43-year-old. Dungarpur says it took him three months just to have the project approved in India and acquire the film's release so he could send the copy to the Foundation.
The other film that Dungarpur partly sponsored to restore is Alfred Hitchcock's first film, the 1927 silent cinema classic The Lodger: A Story of the London Fog. The movie recently screened at the Barbican Centre in London as a prelude to this year's Olympics and was telecast on UK television and the web.
Dungarpur, who hails from a royal family and originally set out to make feature films in Bollywood, says restoring the Kalpana print was all thanks to PK Nair, the founding director of the NFAI and the one who had the foresight to make a backup print of Kalpana.
"All the filmmakers believe we learnt everything from Nair, who preserved every bit of cinema left in India," he says. "He showed us everything, gave us our identity. In 1964, he started the NFAI, and whatever is there, it is because of him. He is the gatekeeper of Indian film heritage."
Out of 1,700 Indian silent films, only nine have survived and all through Nair's efforts.
This year, Dungarpur released his documentary on Nair and the man's work and restoration legacy. The film, Celluloid Man, premiered at the Cinema Ritrovato Festival in Bologna in June.
"It took 11 trips to the National Film Archive's headquarters in Pune to convince the authorities to let me film with Nair," recalls Dungarpur.
"I started the film two years ago and what a journey of discovery it has been. I learnt about the lost heritage of Indian cinema and how important it is to preserve and restore our films before it is too late."
Dungarpur says that when he was a student at the Film and Television Institute of India, a school that works closely with the National Film Archive, he would see Nair in the institute's cinema: "A shadowy figure in the darkened theatre, scribbling industriously in a notebook by the light of a tiny torch - winding and unwinding reels of film, shouting instructions to the projectionist and always, always watching the films."
In a country where historical monuments are being razed to make way for infrastructure projects, where ancient manuscripts are withering away in neglected corners and languages are fading, picking up the gauntlet as a saviour of old film prints is a brave act. The sheer trouble and time it takes to even secure access to archival material is enough to turn anyone off.
Dungarpur recognises these challenges, but remains focused on his plans to formally set up a foundation, by the end of the year, that will focus on restoring and preserving films in India.
"We make films, exploit them commercially and throw them out. We don't have training or schools focused on restoration," he says. "Look at Chaplin films and how well preserved they are. Can you say that for India?"
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Company profile
Company: Rent Your Wardrobe
Date started: May 2021
Founder: Mamta Arora
Based: Dubai
Sector: Clothes rental subscription
Stage: Bootstrapped, self-funded
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
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.”
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Read more about the coronavirus
The specs
AT4 Ultimate, as tested
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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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The Buckingham Murders
Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu
Director: Hansal Mehta
Rating: 4 / 5
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
The specs
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia