The women’s majlis: When a novel comes calling


  • English
  • Arabic

It was a rainy day in Shibuya. My clothes were soaked because I didn't have an umbrella. When I walked into the warmth of the bakery, the scent of coffee and bread intoxicated me. As I walked through the streets, falling in love with Tokyo, a story germinated in my mind.

I couldn’t put it into words. It was still elusive and magical. I couldn’t see the characters. I didn’t know who they were. All I saw was where the story would unfold. It was only when we were in the Hong Kong airport about to board the flight back to Dubai, that I found myself writing the prologue where Mansour is in the middle of the Shibuya Crossing frantically searching for someone he bumped into earlier at the bakery. I may have left my heart in Shibuya but the story was mine to take home.

It was a long time before I saw the lead female character. I knew that she and her sister struggled in their own ways. I saw her much later – a student, studying in Tokyo for the summer. I knew she would navigate the pitfalls of adulthood and the weight of society’s expectations.

Yet Another Emirati Kinda Love Story was a nod to my first novel Just Another Emirati Kinda Love Story. A lot of people ask me if the stories are a series. They aren’t, but they follow the same themes. I never imagined that my second blog novel would be as well received as my first. It was spontaneous and with every painstakingly written page, I got closer to discovering it. I have written both my novels in weekly instalments every Friday on my own blog. I liked to think of readers as my best friends and I was ­letting them read my drafts. They witnessed novels ­unfolding right before their eyes and they guessed plot twists I would never think of.

I finished writing my second novel on June 13. I posted my last chapter on the blog and amidst the comments of love and tears that poured in for the end of the story they had faithfully read for the last year, I sobbed at the realisation of the silence that suddenly befell me. The characters had ­finally fled my imagination. They were safely tucked in a novel I had written that would live on in the hearts of my readers.

I’m a romance writer, but that is not all I am. I write to dream about life. I write the stories that live on ­inside me. I may not ­always write ­contemporary romance. Tomorrow I may choose to write ­different genres, but what matters is what I have started. I have written ­contemporary romance with Emirati characters and from an Emirati ­perspective while upholding the traditions and memories of the UAE. I have ­chosen English as my ­medium to reach a wider audience. It’s the beginning of a lifelong journey and I’ve never felt more alive.

Shahd Thani, a member of Untitled Chapters, is an aspiring author who has written novels on her blog.

If you have a good story to tell or an interesting issue to debate, contact Melinda Healy on mhealy@thenational.ae

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

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Fixtures

Tuesday - 5.15pm: Team Lebanon v Alger Corsaires; 8.30pm: Abu Dhabi Storms v Pharaohs

Wednesday - 5.15pm: Pharaohs v Carthage Eagles; 8.30pm: Alger Corsaires v Abu Dhabi Storms

Thursday - 4.30pm: Team Lebanon v Pharaohs; 7.30pm: Abu Dhabi Storms v Carthage Eagles

Friday - 4.30pm: Pharaohs v Alger Corsaires; 7.30pm: Carthage Eagles v Team Lebanon

Saturday - 4.30pm: Carthage Eagles v Alger Corsaires; 7.30pm: Abu Dhabi Storms v Team Lebanon

MATCH INFO

Euro 2020 qualifier

Fixture: Liechtenstein v Italy, Tuesday, 10.45pm (UAE)

TV: Match is shown on BeIN Sports

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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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Innotech Profile

Date started: 2013

Founder/CEO: Othman Al Mandhari

Based: Muscat, Oman

Sector: Additive manufacturing, 3D printing technologies

Size: 15 full-time employees

Stage: Seed stage and seeking Series A round of financing 

Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now. 

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