The eight Harry Potter movies made more money than all of the 24 official Bond films put together – so it is little surprise that despite running out of books to adapt, author J K Rowling and Warner Bros have come up with a way to extend and expand the cinematic world of wizards and magic.
Fantastic Beasts and Where to Find Them is inspired by the fictional encyclopaedia of the same name, which is required reading for new students at Hogwarts. Written by the previously unseen character Newt Scamander, it was first mentioned in the first Harry Potter book, 1997's The Philosopher's Stone.
In 2001, to help raise money for British charity Comic Relief, Rowling wrote a real version of the textbook, listing some of the magical beasts that are part of Potter’s world.
The film adaptation – the first of five planned movies – takes place in New York in 1926, which was recreated at Leavesden Studios in North London, the same place where Harry Potter films were shot.
"It's really spectacular," Eddie Redmayne (The Theory of Everything, The Danish Girl), who stars as Scamander, tells me when I visit the set.
“We were shooting a scene on the steps going up to the bank and they had bought all these cars from America, so when you looked out onto the street, it felt immersive.”
Wandering around the set it certainly feels like being magically transported back to prohibition-era New York, a time when the tallest building in Manhattan was the Woolworth Building. Steam bellowed out of manholes on the cobbled streets and the rundown tenement buildings looked like they were about to fall apart – the attention to detail is quite incredible.
Redmayne says he is fulfilling a dream by acting in a JK Rowling film – and making up for an earlier disappointment. The actor, who won an Oscar last year for his portrayal of Stephen Hawking in The Theory of Everything, unsuccessfully auditioned for the role of Tom Riddle in the original franchise.
This time, director David Yates says: “Eddie was the only candidate for the role.”
Redmayne immediately fell in love with the character.
“One of the things that I love about Newt is that he’s more comfortable in the field,” he says. “He has a facility with animals that is pretty unique and one of his arcs in the film is to learn to be open enough and communicate with people.”
Scamander arrives at Ellis Island with a Tardis-like leather suitcase filled with magical beasts. When they escape, he enlists the help of Tina Goldstein (Katherine Waterston), an enforcement officer at the Magical Congress of the United States of America), her mind-reading sister, Queenie (Alison Sudol), and war veteran Jacob Kowalski (Dan Folger), to find the loveable magical creatures before they are obliterated by dark forces.
“What I love about this film is that it’s absolutely this quartet and J K Rowling has written such defined and wonderful characters, who compliment each other in such wonderful ways,” says Redmayne.
Sudol also loves the dynamics of the group.
“We are thrown together like an unlikely gang,” she says. “My sister brings Newt home – she is essentially a dreamer and loves an adventure and in comes Newt, who is clearly on the run. Then there is Jacob who is a no-maj.”
No-maj is the American equivalent of “muggle”, the word used in the Harry Potter books for a person with no magical abilities.
Folger says Jacob has other useful talents, demonstrating the importance of humans, even in a world of magic.
“He’s been in the First World War, so he’s got the mentality to be in these chaotic situations, and he’s very reliable and helpful.”
Waterston adds: “I loved the period and the music, and tuning into that stuff in the little bits of free time. My character is very serious but she has a wonderful spirit, so I’ve been doing the Charleston in my trailer, which makes the whole thing shake.”
This film has a darker, more adult tone than the Harry Potter films, as Rowling – who wrote the screenplay, her first – has built a world filled with love and hate.
“It’s got interesting themes,” says Yates. “What happens when someone is mistreated, abused, unheard, beaten, and what that creates in terms of dark energy. So the themes are rich and deep and quite European on one level, but the package in which it comes, it’s really fun and entertaining.”
Yates, who also directed the final four Potter films, clearly has an affinity with Rowling and is full of praise for the Scottish author’s storytelling skills. “She’s the Dickens of our time,” he says. “She has extraordinary character.”
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
4) Try not to close the sale at night
5) Don't be rushed into a sale
6) Call 901 if you see any suspicious behaviour
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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.”
Meydan race card
6pm Dubai Trophy – Conditions(TB) $100,000 (Turf) 1,200m
6.35Dubai Trophy – Conditions(TB) $100,000 (Turf) 1,200m
1,800m
7.10pm Jumeirah Derby Trial – Conditions (TB) $60,000 (T)
1,800m ,400m
7.45pm Al Rashidiya – Group 2 (TB) $180,000 (T) 1,800m
8.20pm Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m
8.55pm Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m
9.30pm Aliyah – Rated Conditions (TB) $80,000 (D) 2,000m
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Transmission: Seven-speed automatic
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Manchester United v Liverpool
Premier League, kick off 7.30pm (UAE)
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Uefa Nations League: How it Works
The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.
The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.
Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.
Children who witnessed blood bath want to help others
Aged just 11, Khulood Al Najjar’s daughter, Nora, bravely attempted to fight off Philip Spence. Her finger was injured when she put her hand in between the claw hammer and her mother’s head.
As a vital witness, she was forced to relive the ordeal by police who needed to identify the attacker and ensure he was found guilty.
Now aged 16, Nora has decided she wants to dedicate her career to helping other victims of crime.
“It was very horrible for her. She saw her mum, dying, just next to her eyes. But now she just wants to go forward,” said Khulood, speaking about how her eldest daughter was dealing with the trauma of the incident five years ago. “She is saying, 'mama, I want to be a lawyer, I want to help people achieve justice'.”
Khulood’s youngest daughter, Fatima, was seven at the time of the attack and attempted to help paramedics responding to the incident.
“Now she wants to be a maxillofacial doctor,” Khulood said. “She said to me ‘it is because a maxillofacial doctor returned your face, mama’. Now she wants to help people see themselves in the mirror again.”
Khulood’s son, Saeed, was nine in 2014 and slept through the attack. While he did not witness the trauma, this made it more difficult for him to understand what had happened. He has ambitions to become an engineer.
What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."
Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.
Will the rally last?
No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.
"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young