Author and co-executive producer George R.R. Martin arrives for the premiere of the fourth season of HBO series "Game of Thrones" in New York March 18, 2014. REUTERS/Lucas Jackson (UNITED STATES - Tags: ENTERTAINMENT)
Author and co-executive producer George R.R. Martin arrives for the premiere of the fourth season of HBO series "Game of Thrones" in New York March 18, 2014. REUTERS/Lucas Jackson (UNITED STATES - Tags: ENTERTAINMENT)
Author and co-executive producer George R.R. Martin arrives for the premiere of the fourth season of HBO series "Game of Thrones" in New York March 18, 2014. REUTERS/Lucas Jackson (UNITED STATES - Tags: ENTERTAINMENT)
Author and co-executive producer George R.R. Martin arrives for the premiere of the fourth season of HBO series "Game of Thrones" in New York March 18, 2014. REUTERS/Lucas Jackson (UNITED STATES - Tag

Sneak peek at next Game of Thrones novel


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Fantasy novelist George RR Martin has released a chapter from the next book in his series on which hit television show Game of Thrones is based. The American writer has kept fans of his epic A Song of Ice and Fire saga in suspense since 2011, when the fifth instalment, A Dance with Dragons, was published. The new chapter – available on the author's website and taken from the sixth book, The Winds of Winter – focuses on Alayne, the name Sansa Stark adopts as she hides out following the death of evil King Joffrey. The fifth season of the TV show, which begins in the United States next Sunday, will catch up with the events in book five, which means the show might have to depart from the plot lines that eventually end up appearing in the sixth and the final, seventh, volumes in the saga when they are eventually published. The epic power struggle at the heart of the story has not yet been resolved: Martin himself has said he hasn't yet decided how it all will end. The author, who published the first book in the series in 1996, is a notoriously slow writer and has said he hopes to have book six finished within the next year. – AFP

Daily Show star targets attitudes to Muslims

A new online sitcom from The Daily Show correspondent Aasif Mandvi that takes a satirical swipe at anti-Muslim bias will debut online on Thursday. He said that four episodes of Halal in the Family will be posted on the humour website Funny or Die. The show's title is a play on the groundbreaking 1970s sitcom, All in the Family. The episodes, each five minutes long, use comedy to address issues including FBI surveillance of Muslims in America, ­cyberbullying, hate networks and media bias, according to Mandvi. He hopes the series will start a productive conversation about how Muslims are stereotyped. Indian-born Mandvi, who is the "senior Muslim correspondent" on Comedy Central's The Daily Show, has also appeared in several movies. – AP

House of Cards set to return

Frank Underwood's murderous and Machiavellian pursuit of power will be extended for at least another term after a fourth season of the acclaimed political drama House of Cards was confirmed. The return of the award-winning Netflix series, starring Kevin Spacey as the scheming American politician who plots a path to the White House, was confirmed on the show's Twitter feed. "I will leave a legacy #Underwood 2016," a brief post read, above an image carrying the message "Season 4 2016". Showrunner and writer Beau Willimon tweeted: "Official – S4 of @HouseofCards announced. But the writers & I have been secretly writing for months." – AFP

A final album from Frank Zappa

More than 20 years after his death, one last album is coming from Frank Zappa. His estate announced pre-order sales for Dance Me This, saying it was the 100th and final album from the Los Angeles-based experimental musician, who died in 1993 from prostate cancer. His official website announced the album's release on April Fool's Day – prompting initial speculation it was a joke – but it has been confirmed that the album is available to order and will be shipped in June. Zappa had mentioned the album before his death, saying that it would feature the synclavier – a synthesiser and programming system developed in the 1970s – and, true to the work's name, would consist of dance music. His estate has been releasing albums from him and his band, The Mothers of Invention, almost annually since his death. – AFP

90s rapper Vanilla Ice agrees a deal in theft case

Vanilla Ice has accepted a plea deal to perform community service after being arrested over a break-in and theft at an abandoned home in Florida. The rapper, whose real name is Robert Van Winkle, appeared in court in West Palm Beach on Thursday. He agreed to a fine and 100 hours of community service to avoid charges of grand theft over the incident in February. He hosts a home-­improvement show, DIY Network's The Vanilla Ice Project, and was renovating a home next to that of the victim. He said the alleged theft was a misunderstanding. – AP

Portuguese film pioneer dies at 106

Portuguese cinema legend Manoel de Oliveira, reportedly the only director whose career ran from the silent era into the digital age, died on Thursday at the age of 106. The award-­winning director made more than 50 films, including features and documentaries, during a career that began in 1931. It was reported that he died at his home in the northern coastal city of Porto, where he was born in 1908. In 2008, he was awarded the coveted Palme d’Or at Cannes for his lifelong contribution to cinema, as well as the French Legion of Honour. Portuguese actor and director Maria de Meideiros once described Oliveira as a “genius who represented the creative freedom of cinema”. Gilles Jacob, president of the Cannes film festival until last year, said the man was a “legend and a mystery”. – AFP

Divine intervention for Billy Ray Cyrus

A late-night glimpse of a Pentecostal church while he was walking his dog inspired country singer Billy Ray Cyrus to dream up a television series that the CMT network said Thursday will become part of its schedule early next year. Cyrus will star in the comedy, Still the King, as Vernon Brown, a one-hit country star turned Elvis Presley impersonator who becomes a minister at a country church outside of Nashville. The show puts the channel back into business with Cyrus, daddy of Miley and frequent presence on the network when his Achy Breaky Heart was a hit two decades ago. –AP

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.”