Two suits designed by Freddie Burretti (1972) for the Ziggy Stardust tour, part of David Bowie Is. Charles Platiau / Reuters
Two suits designed by Freddie Burretti (1972) for the Ziggy Stardust tour, part of David Bowie Is. Charles Platiau / Reuters

Top 3 exhibitions this week: Relieve the career of rock star David Bowie in Paris



Find great beauty in the most unusual places

Bagram Airfield, the largest US base in Afghanistan, was once home to 40,000 troops and became the unlikely inspiration for the British photographer Edmund Clark. Clark, who spent time embedded with the US military, has created some extraordinary images that play with the beauty of the mountains of the Hindu Kush against the banality of the man-made landscape – rows of military tents, razor wire and construction work among them. Inside the base, painted murals decorate military life, far removed from the people of Afghanistan. Edmund Clark: The Mountains of Majeed runs at The Flowers Gallery in East London until April 4 (www.flowersgalllery.com).

Discover art made by the Great Plains’ tribes

An exhibition of Plains Indians' masterworks gathered from North American and European collections opens at the Metropolitan Museum of Art in New York next week. Works collected by French traders and travellers will be shown alongside objects from the early reservation period and contemporary works that play with traditional art forms and ideas. Highlights include a 2,000-year-old human-effigy stone pipe. Many nations, including Osage, Quapaw, Omaha, Crow, Cheyenne, Arapaho, Lakota, Blackfeet, Pawnee, Kiowa, Comanche and Meskwaki, will be represented. The Plains Indians: Artists of the Earth and Sky opens on March 9 and runs until May 10. Find out more at www.metmuseum.org.

Relive the career of British rock star David Bowie

The touring exhibition David Bowie Is makes its latest stop in France at the Philharmonie de Paris where the retrospective will be shown until the end of May. The story of one of music's most charismatic figures is told through more than 300 objects, including handwritten lyrics, original costumes, photographs, set designs, album artwork and rare performance material from the past 50 years. The show charts the career of the singer, songwriter, record producer, actor and fine art collector and his influence on art, design, theatre and contemporary culture. David Bowie Is runs until May 31 at the Philharmonie de Paris (davidbowieis.philharmoniedeparis.fr).

ROUTE TO TITLE

Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE

Edinburgh: November 4 (unchanged)

Bahrain: November 15 (from September 15); second daily service from January 1

Kuwait: November 15 (from September 16)

Mumbai: January 1 (from October 27)

Ahmedabad: January 1 (from October 27)

Colombo: January 2 (from January 1)

Muscat: March 1 (from December 1)

Lyon: March 1 (from December 1)

Bologna: March 1 (from December 1)

Source: Emirates

Company Profile

Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000

WHAT MACRO FACTORS ARE IMPACTING META TECH MARKETS?

• Looming global slowdown and recession in key economies

• Russia-Ukraine war

• Interest rate hikes and the rising cost of debt servicing

• Oil price volatility

• Persisting inflationary pressures

• Exchange rate fluctuations

• Shortage of labour/skills

• A resurgence of Covid?

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

Super Saturday results

4pm: Mahab Al Shimaal Group 3 | US$350,000 | (Dirt) | 1,200m
Winner: Drafted, Pat Dobbs (jockey), Doug Watson (trainer).

4.35pm: Al Bastakiya Listed | $300,000 | (D) | 1,900m
Winner: Divine Image, Brett Doyle, Charlie Appleby.

5.10pm: Nad Al Sheba Turf Group 3 | $350,000 | (Turf) | 1,200m
Winner: Blue Point, William Buick, Charlie Appleby.

5.45pm: Burj Nahaar Group 3 | $350,000 | (D) | 1,600m
Winner: Muntazah, Jim Crowley, Doug Watson.

6.20pm: Dubai City of Gold Group 2 | $300,000 | (T) | 2,410m
Winner: Old Persian, William Buick, Charlie Appleby.

6.55pm: Al Maktoum Challenge Round 3 Group 1 | $600,000 | (D) | 2,000m
Winner: Capezzano, Mickael Barzalona, Salem bin Ghadayer.

7.30pm: Jebel Hatta Group 1 | $400,000 | (T) | 1,800m
Winner: Dream Castle, Christophe Soumillon, Saeed bin Suroor.

SPECS

Engine: 1.5-litre 4-cylinder
Power: 101hp
Torque: 135Nm
Transmission: Six-speed auto
Price: From Dh79,900
On sale: Now

The specs

Engine: 3.8-litre twin-turbo flat-six

Power: 650hp at 6,750rpm

Torque: 800Nm from 2,500-4,000rpm

Transmission: 8-speed dual-clutch auto

Fuel consumption: 11.12L/100km

Price: From Dh796,600

On sale: now

MATCH INFO

What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany

Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)

A QUIET PLACE

Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou

Director: Michael Sarnoski

Rating: 4/5

COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

Results

Stage 2:
1. Soudal–Quick-Step - 18’11”
2. EF Education – EasyPost - 1"
3. Ineos Grenadiers - 3"
General classification:
1. Lucas Plapp (AUS) Ineos Grenadiers
2. Remco Evenepoel (BEL) Soudal–Quick-Step - ST
3. Nikias Arndt (GER) Bahrain Victorious - 3"

RESULTS

5pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Turf) 2,200m
Winner: RB Sarab, Allaia Tiar (jockey), Khalifa Al Neyadi (trainer)

5.30pm: Mamsha Alkhair – Handicap (PA) Dh80,000 (T) 1,600m
Winner: Mutaqadim, Ray Dawson, Ibrahim Al Hadhrami

6pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m
Winner: Almotajalliah, Ray Dawson, Ibrahim Al Hadhrami

6.30pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m
Winner: Fadwaan, Antonio Fresu, Ahmed Al Mehairbi

7pm: The President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m
Winner: Mujeeb, Richard Mullen, Salem Al Ketbi

7.30pm: The President’s Cup – Listed (TB) Dh380,000 (T) 1,400m
Winner: Western Writer, Richard Mullen, Bhupat Seemar

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.”

TWISTERS

Director: Lee Isaac Chung

Starring: Glenn Powell, Daisy Edgar-Jones, Anthony Ramos

Rating: 2.5/5

COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures

Brief scores:

Toss: Rajputs, elected to field first

Sindhis 94-6 (10 ov)

Watson 42; Munaf 3-20

Rajputs 96-0 (4 ov)

Shahzad 74 not out

COMPANY PROFILE

Company name: Blah

Started: 2018

Founder: Aliyah Al Abbar and Hend Al Marri

Based: Dubai

Industry: Technology and talent management

Initial investment: Dh20,000

Investors: Self-funded

Total customers: 40

About Takalam

Date started: early 2020

Founders: Khawla Hammad and Inas Abu Shashieh

Based: Abu Dhabi

Sector: HealthTech and wellness

Number of staff: 4

Funding to date: Bootstrapped

COMPANY PROFILE

Company name: Nomad Homes
Started: 2020
Founders: Helen Chen, Damien Drap, and Dan Piehler
Based: UAE and Europe
Industry: PropTech
Funds raised so far: $44m
Investors: Acrew Capital, 01 Advisors, HighSage Ventures, Abstract Ventures, Partech, Precursor Ventures, Potluck Ventures, Knollwood and several undisclosed hedge funds