The Abu Dhabi International Film Festival promises great people-watching



By the time you read this, it will be just two days until the Abu Dhabi Film Festival begins.

For the past two years, I have watched the city come alive with film aficionados, stargazers and stars alike. Especially when it came down to the premiere of a big Bollywood film - families, friends and fans would turn up in packs, trying to get a good look at their favourite actors. Often screaming from the sidelines, and with camera, phones and autograph books at the ready, fan-watching was sometimes more fun than watching the glamorous stars walk the red carpet.

And there were always red-carpet confessions by the actors that made it all the more exciting to write about because the next day I'd brace myself and my inbox for more information about people's favourite Bollywood boys and belles. At the premiere of Blue at the film festival last year, Akshay Kumar admitted his wife dressed him. Then, on his way to see the film at the Emirates Palace hotel, he turned to Twinkle Khanna and repeated what he said: that he took no credit for his style - it was all hers. They smiled and shared a moment. And there I was, squashed among dozens of their fans who were there to witness it all.

Then Lara Dutta, the leggy beauty who is no stranger to Abu Dhabi (having shot Do Knot Disturb with Govinda and Sushmita Sen earlier in the year at the Emirates Palace) told me she was better than any man in the action-thriller film. Before Blue she did not know how to swim. Then she trained and shot some unbelievable scenes. When she walked the red carpet, I could hear hundreds of hearts pounding. Grown men were screaming for her.

Last year, even offbeat crossover films such as Cooking With Stella, starring the gorgeous Lisa Ray alongside Don McKellar and the stalwart of Indian alternative cinema, Seema Biswas, brought heartbreaking news. Lisa Ray had been diagnosed with a rare form of cancer. But the cast marched on. At the Emirates Palace on its premiere night, Dilip Mehta, the director, was as stunned by the reception of a sold-out crowd, as was McKellar who did not believe his fan base extended to expatriate Indians in the Gulf (McKellar's fans were mostly young Indian women from North America).

What will the festival this year bring? The line up of south Asian films is rich with promise. We may not have Bollywood's biggest earners in our midst this year, but the films promise to deliver more substance than flash. And if Freida Pinto decides to come to Abu Dhabi this year for the gala of Miral, I know one thing: I am going to have to watch grown men scream - again.

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How to register as a donor

1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention

2) There are about 11,000 patients in the country in need of organ transplants

3) People must be over 21. Emiratis and residents can register. 

4) The campaign uses the hashtag  #donate_hope

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.

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills