Saud Alsanousi won the award in 2013. Pawan Singh / The National
Saud Alsanousi won the award in 2013. Pawan Singh / The National
Saud Alsanousi won the award in 2013. Pawan Singh / The National
Saud Alsanousi won the award in 2013. Pawan Singh / The National

Where are they now? A look at some of the past winners from the International Prize for Arabic Fiction


  • English
  • Arabic

Browse the International Prize for Arabic Fiction’s website, and you will see that one of its main aims remains unchanged from when it was launched 10 years ago: “To encourage the translation of Arabic literature into other languages.”

The subtext here was that Ipaf hoped it might discover an Arabic-language literary star who might be spoken of in the same hallowed terms as, say, Japanese writer Haruki Murakami or Norwegian Karl Ove Knausgard.

So where are the 11 winners (2011’s prize was shared) now and has an Ipaf win increased their international profile?

It is a scrappy picture. Not all the winners have been translated into English which, although translation into other languages is also important, is what Ipaf promises to subsidise.

This means it is difficult to judge what Rabee Jaber's 2012 win for The Druze of Belgrade has meant for him, although it is worth noting his book has been translated into 10 other languages. In fact, we are yet to see English translations of any winning book since 2014 – although the fact that major publishing house Penguin is due to publish Ahmed Saadawi's Frankenstein In Baghdad next year is significant. Last year's winner, Rabai-al Madhoun's Destinies: Concerto of the Holocaust and the Nakba, is due for release this year.

Of course, some of the difficulty in capitalising on an Ipaf win is logistical. It takes time to translate and publish a novel. It was obvious that Saud Alsanousi's 2013 winner, The Bamboo Stalk, would be one of the more popular and accessible Arabic novels in translation, but it took more than two years from winning to publication by Bloomsbury. Its Arabic follow-up, Grandma Hessa's Mice, has been a bestseller in the Arab world, which seems to suggest Ipaf might be helping authors closer to home, if not overseas.

Similarly, there was a lot of excitement about Yousef Ziedan's 2009 winner, Azazeel, being picked up by a major publisher – Atlantic – but it took three years to appear on shelves in English. As a result, any goodwill, or indeed profile of any sort, generated by the award had been lost – although the historically dense Azazeel was perhaps an odd choice for Atlantic anyway.

All of which is in no way a criticism of Ipaf itself. It might have taken five years for Raja Alem's Dove's Necklace to reach English-speaking readers but when it did, her profile skyrocketed. A woman talking positively about life in Saudi Arabia? Yes please.

So it is perhaps more in the cumulative raising of the profile of Arabic fiction that Ipaf has had the most success, rather than with specific authors.

The fiction coming out of Iraq and Syria, whether Ipaf winners or not (the current interest in The President's Gardens by Muhsin Al-Ramli being a case in point) is highly encouraging.

In the end, that should be what everyone celebrates, rather than the personal victories of individual authors.

artslife@thenational.ae

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

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ESSENTIALS

The flights 

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The modern-art-filled Ambassador hotel (myconianambassador.gr) is 15 minutes outside Mykonos Town on a hillside 500 metres from the Platis Gialos Beach, with a bus into town every 30 minutes (a taxi costs €15 [Dh66]). The Nammos and Scorpios beach clubs are a 10- to 20-minute walk (or water-taxi ride) away. All 70 rooms have a large balcony, many with a Jacuzzi, and of the 15 suites, five have a plunge pool. There’s also a private eight-bedroom villa. Double rooms cost from €240 (Dh1,063) including breakfast, out of season, and from €595 (Dh2,636) in July/August.

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The National selections:

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10.35pm: Good Fortune

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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Bangla Tigers 117-5 (8.5 ovs)

Fletcher 40, Moores 28 no, Lamichhane 2-9

Bangla Tiger win by five wickets

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How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.