Shreya Ghoshal will perform in Dubai next month. Getty Images
Shreya Ghoshal will perform in Dubai next month. Getty Images

Shreya Ghoshal is coming to Dubai



Shreya Ghoshal coming to Dubai

The popular Indian singer Shreya Ghoshal will perform in a concert on October 26 at the Madinat Jumeirah Arena. Ghoshal, who has won four National Awards in India, has performed countless songs for Bollywood films including recent hits such as Ek Tha Tiger, Ishaqzaade, Agneepath and The Dirty Picture. The 28-year-old will be taking the stage for a three-hour show along with her 20-member troupe of backup singers and musicians. Tickets cost from Dh175 and can be purchased at www.timeoutickets.com. For more information, call 050 698 4599 or visit www.facebook.com/ShreyaGhoshalDubai.

Akshay Kumar has a baby girl

The Bollywood actor Akshay Kumar and his wife, Twinkle Khanna, have announced the birth of their second child. On Tuesday, the actor tweeted that his new daughter "looks just like her mother and grandmother and I have no words to express my happiness". The couple, who got married in 2001, also have a 10-year-old boy. Kumar has been acting for nearly 20 years. Khanna, a former actress, is the daughter of two Bollywood actors – Dimple Kapadia and the late Rajesh Khanna. * AP

Vedhika Kumar stars in Bala Pazhanisaamy's new film

The actress Vedhika Kumar says it was a dream come true to work with the director Bala Pazhanisaamy in his new film Paradesi, a period drama based on the Malayalam novel Eriyum Thanal. Kumar says her biggest challenge was living up to the expectations of the veteran filmmaker. "I still cannot believe that I was the chosen one for Paradesi. I didn't want to let him down. But he made it really easy – he knows how to extract the right kind of work from his artists," says Kumar. "It is now my most favourite project and it was an unforgettable journey working with a National Award-winning director." Paradesi, which will be released in India in November, also features the Tamil actor Adharvaa Murali. * IANS

Vivek Oberoi plans follow-up to Dekh Indian Circus

The actor Vivek Oberoi, whose debut production Dekh Indian Circus earned accolades at international film festivals last year, plans to produce another film. "I believe if people have interesting ideas and if you are in a position to support them, you should do it," says the 36-year-old. "There is another film I hope to produce soon. It is based in Gujarat. I may even act in it." Oberoi, who is awaiting the arrival of his first child with his wife, Priyanka Alva, says film production is "stuff that I do for myself, something I enjoy doing". Dekh Indian Circus chronicles the life of a family living in a village in the Indian state of Rajasthan. The movie, featuring Tannishtha Chatterjee, premiered at South Korea's 16th Busan International Film Festival and won the Audience Choice Award for Best Film. Chatterjee and the actor Nawazuddin Siddiqui went on to win top honours at the 12th New York Indian Film Festival. Oberoi is currently awaiting the release of his new film, Kismet Love Paisa Dilli, which stars Mallika Sherawat. The movie will be released in India on October 5. * IANS

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.”

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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End of free parking

- paid-for parking will be rolled across Abu Dhabi island on August 18

- drivers will have three working weeks leeway before fines are issued

- areas that are currently free to park - around Sheikh Zayed Bridge, Maqta Bridge, Mussaffah Bridge and the Corniche - will now require a ticket

- villa residents will need a permit to park outside their home. One vehicle is Dh800 and a second is Dh1,200. 

- The penalty for failing to pay for a ticket after 10 minutes will be Dh200

- Parking on a patch of sand will incur a fine of Dh300