DUBAI // Andrea Khoury was nervous as she walked onto the stage.
"I have butterflies in my stomach," she said. "Most of the girls are doing the splits and cartwheels and I can't do that. The only reason I came is because my best friend promised to audition with me."
The 10-year-old was among the dozens who turned out yesterday to audition for a part in Aladdin. The traditional British show, based on a Middle Eastern folk tale, tells the story of a young peasant boy who is tricked by an evil sorcerer into retrieving a magic lamp from a mysterious cave.
When residents heard that producers H2 Organisation Limited would be in town to pick 16 cast members, they flocked to the theatre, eager to be part of a story that became one of Disney's most successful animated movies. Graham Fawcett, the British director behind at least four previous Christmas productions in Dubai, including Sleeping Beauty, Snow White and Cinderella, said that while the UAE theatre scene was growing, a shortage of suitable venues persists.
"The first year, we had 40 or 50 kids audition, last year it increased to almost 80, and today the numbers were already up an hour before the auditions started," he said. "There is clearly a need and an interest."
For Andrea, a 10-year-old who is half American and half Jordanian, it was her first audition. She came with her mother, Stephanie. "She has only been in dance for one year and doesn't have a lot of experience, but we decided to come and see what it's like," said Mrs Khoury.
The show's choreographer, Louisa Allen, who lives in Dubai, said theatre in the emirate has steadily improved in recent years. "We can now resource from Dubai, so the professional scene is getting huge," she said. "This is a traditional British pantomime with a script that works for local people. It is town-specific, and so we throw in lines, gags and place names to make it a local show." "Our Aladdin isn't actually set in the Middle East, it's set in Beijing," said Mr Fawcett.
When British pantomimes were popularised hundreds of years ago the most familiar Eastern country was China, he explained. "By moving completely away from the original story, which here is known as the Arabian Nights tale, I don't think we will offend anyone," he added. "Kids love a good story. You've got to capture their imagination. When you are on stage, in theory you are in a far-away land."
Leah Fakhuri, who is from the US, came with her family in support of her seven-year-old daughter, Sophia, who is also auditioning for the first time.
"The drama scene here is catching up, and Sophia loves the idea of being on stage," she said. Aladdin runs at the First Group Theatre in the Souk Madinat Jumeirah from December 22 through December 31.
melshoush@thenational.ae
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
COMPANY%20PROFILE
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Dolittle
Director: Stephen Gaghan
Stars: Robert Downey Jr, Michael Sheen
One-and-a-half out of five stars
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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.”
Diriyah%20project%20at%20a%20glance
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The five pillars of Islam