Although the 1990s saw him portray several all-American heroes, the Oscar-winning actor Kevin Costner stars in an altogether new type of film with the release of the horror film The New Daughter.
The Field of Dreams actor plays a father under siege when a mysterious presence begins to torment him and his family in their new home. What's also interesting to note is that the film is directed by Luis Berdejo, a Spanish screenwriter who wrote the movie Rec, a huge hit both in Spain and the rest of the world. He is one of many filmmakers from his country suddenly finding fame in the horror genre, but where did this new trend come from, and why has it caught Hollywood's interest?
This new wave of Spanish chillers came from an unexpected place: the Mexican filmmaker Guillermo del Toro. The director has made clear the influence Spanish cinema and culture has had on him, and in 2001 his "breakthrough" was The Devil's Backbone, a ghost story set around the time of the Spanish Civil War, a period he would return to in his most celebrated effort, Pan's Labyrinth.
This led to several Spanish horror movies "crossing over" to find success in America, where a non-English-language film may struggle against the wave of Hollywood output. The first was The Orphanage, the del Toro-produced film by the director Juan Antonio Bayona, which enjoyed significant success both across Europe (where it received standing ovations at Cannes) and in the US.
That 2007 release was followed quickly by Rec, released the same year as Paranormal Activity and sharing its theme of "found footage" - horror presented as documentary - telling the story of a young television reporter trapped in an apartment while covering a fire station's call-out. The response was so positive it was quickly remade (almost shot-for-shot) and released less than a year later as the American film Quarantine. The most recent example was Julia's Eyes in 2010, by the Catalonian director Guillem Morales, which became a hit not only in Spain but achieved great success in the UK and Australia.
So what makes this particular country suddenly prolific in one particular genre? International audiences have perhaps found Spanish horror more compelling because of the focus on character development. Countries outside of the Hollywood system often focus on character development to make up for a smaller budget or lack of production value, and when brought to horror, this creates a sense of risk in the viewer, of caring about the person who is in peril rather than simply being "another victim" in the style of American "slasher" horror such as Friday the 13th.
There is also the subversion of horror conventions, such as the idea that the "human" characters, rather than the ghostly or supernatural ones, are the real threat. The themes of family, often present in Spanish cinema thanks to the presence of the legendary director Pedro Almodóvar, are also repeatedly exploited, with The Orphanage being the most obvious example of this.
The influence this wave of filmmaking has on cinema as a whole is already being felt. In 2007, Danny Boyle chose the filmmaker Juan Carlos Fresnadillo, the director of the 2001 Anglo-Spanish thriller Intacto, to direct 28 Weeks Later, the sequel to Boyle's 28 Days Later, which was extremely well received.
Spain has, in general, become the first place American studios look when making horror, with Rodrigo Cortes being overwhelmed with praise for the claustrophobic Buried, starring Ryan Reynolds.
Cortes is now in production on the thriller Red Lights, with Robert De Niro attached to star, while back in Spain, Almodóvar himself is exploring the dark side with his new film The Skin I Live In. With all of Tinseltown's finest clamouring to work with Iberian talent, Spanish influence seems to have crept in on all the scary movies hitting our screens.
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
The five pillars of Islam
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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.”
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Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
Sweet%20Tooth
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A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.