Zayn Malik says he is worried that he has let One Direction fans down by leaving the band, but that he could not have carried on in a role that made him unhappy. Malik quit the group on Wednesday, March 25 saying he wanted "to be a normal 22-year-old". He had earlier pulled out of One Direction's world tour, which arrives in Dubai on Saturday, citing stress, and returned to the United Kingdom. He told Britain's The Sun newspaper that "I did try to do something that I wasn't happy doing for a while" to keep fans happy. "I only ever tried to do it for the fans, and it was only ever for them," he said. He added that he felt upset that "I may have let them down in some sort of way. It's not that I've turned my back on them or anything, it's just that I can't do that anymore because it's not real to me". He said his bandmates had been "really supportive" of his decision. "They still want to do it for a while," he said. "I think they're going to be cool." One Direction formed in 2010 after teenagers Harry Styles, Liam Payne, Niall Horan, Louis Tomlinson and Malik auditioned individually for British TV talent show The X Factor and Simon Cowell put them together. They didn't win but went on to top charts and build a devoted following. – AP
Furious 7 ‘deserves an Oscar’, says Vin
Vin Diesel says Furious 7, which was partly filmed in Abu Dhabi, deserves a Best Picture Oscar, but it has two strikes against it with the Academy: it's an action flick and it's a sequel. "Do I shy away from aiming high? No, I don't," said the 47-year-old, who was in Beijing for the Chinese premiere of the latest film in the Fast and Furious franchise. "And yet, we all know that there's a little stigma towards action films. We know it, we've heard people complain about it, we've heard Marvel complain about it, we've heard DC complain about it, and now Harry Potter, The Hunger Games, Batman have never gotten a shot at that." Alluding to the fact that many of the recent Oscar Best Picture winners haven't fared well at the box office, Diesel added: "The Oscars have been somewhat criticised in the past couple of years for maybe not being as populist as they could be, but we have a very powerful movie here." Furious 7, which was produced with local partners Abu Dhabi Film Commission and twofour54, will be released on Thursday. – AP
Spandau Ballet set Dubai date
The British band Spandau Ballet, one of the leading bands of the 1980s New Romantic era, are bringing their Western World tour to Dubai World Trade Centre on Thursday, September 17. "Spandau Ballet are one of the great iconic bands of the 1980s, yet these guys still retain their youthful swagger when on stage," said Thomas Ovesen, the chief operating officer of concert organiser Done Events. "People still talk about their amazing 2010 Dubai show, where together with Rod Stewart they sold out the 20,000-capacity Sevens Stadium." The band have sold more than 25 million records, scored numerous multi-platinum albums and amassed 23 hit singles since they formed in the late 1970s. Tickets start at Dh350 and will go on sale from Sunday, April 12. Visit www.doneevents.com. – The National staff
Clarkson gets job offer from russian tv
A TV station owned by the Russian defence ministry has offered former Top Gear host Jeremy Clarkson a new job. The BBC announced on Wednesday that it wouldn't renew Clarkson's contract after an incident during which he subjected a producer on the show to a sustained torrent of verbal abuse before punching him in the face, because he was angry that there was no hot food being served when he arrived at a hotel during location filming. The Zvezda TV channel published a letter to Clarkson on its website inviting him to visit Moscow next month to discuss launching a motoring show in Russia. – AP
Downton Abbey closing its doors
After weeks of rumours and speculation, the producers of Downton Abbey have confirmed that the forthcoming sixth season of the British TV drama will be its last. It will be broadcast towards the end of this year, with the finale on Christmas Day, and the American screening will follow in the New Year. "Our feeling is that it's good to quit while you're ahead," said the executive producer Gareth Neame. – AP
Obama talks drug strategy with Creator of The Wire
Talk of overhauling the criminal justice system is serious business – but before diving into the subject, US president Barack Obama had something else he wanted to say – he told David Simon, the creator of the acclaimed HBO crime drama The Wire, that he was a huge fan of the programme about life in drug-plagued Baltimore. Obama and Simon sat down last week at the White House for a 12-minute discussion about the arguments for reducing the incarceration rates of nonviolent drug offenders and the need to make cities safer. A video of their conversation was shown at Thursday's Bipartisan Criminal Justice Summit in Washington. Obama said The Wire is not only one of the greatest TV shows ever made, it is one of the greatest "pieces of art" in recent years. –AP
Bond movie hits businesses in Mexico City’s historic downtown
The leader of a group representing small businesses in Mexico City's historic downtown district says owners complained of a 60 per cent drop in sales during the first week of filming of the new James Bond movie, Spectre. Officials announced some streets would be closed in the nearly 500-year-old colonial district between March 19 and April 1. Gerardo Lopez Becerra, head of the city's small business chamber, says his group appreciates the publicity generated by the film but that some employees haven't been allowed to go to work and the street closures scared away customers. He said the city should help business affected by frequent closures in the downtown area due to street protests, festivals and filming. –AP
Renowned Pentangle guitarist John Renbourn dies
The masterful acoustic guitarist John Renbourn, a founding member of British folk-jazz band Pentangle in the 1960s, has died at his home in Scotland. He was 70. His manager, Dave Smith, called him “a huge character”, and said it was thought he had suffered a heart attack. “He was always playing and teaching. That is what he loved doing and he never stopped,” Smith added. Scottish police said the musician’s body was found on Thursday night at his home in the Scottish Borders region. There were no suspicious circumstances. Renbourn teamed up with the late Bert Jansch to form the backbone of the band Pentangle, which played contemporary and traditional folk songs. They played complicated ballads and folk tales from the Renaissance era, bringing centuries-old music to contemporary audiences. “He was a very inspirational performer, widely known all over the world, even though it was not mainstream music,” said Smith. He added that he had become concerned when Renbourn failed to show up for a concert with guitarist Wizz Jones in Glasgow and asked police to check his home. – AP
Nobel-winning Swedish poet Tomas Transtromer dead at 83
The Swedish poet and Nobel Literature Prize-winner Tomas Transtromer has died at the age of 83. Anna Tillgren, a spokeswoman for Publisher Bonniers, said that the reclusive writer died on Thursday after a short illness. In famous collections such as the 1966 Windows and Stones, Transtromer used imaginative metaphors to describe the mysteries of the human mind. His work has been translated into more than 50 languages and influenced poets across Europe, the Middle East and the Americas. In 2011 he was awarded the Nobel Prize in Literature. Transtromer debuted at age 23 with the collection Seventeen Poems and later divided his time between poetry and his work as a psychologist. He is survived by his wife Monika and their two daughters, Emma and Paula. –AP
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.”
COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)
Date started: August 2021
Founder: Nour Sabri
Based: Dubai, UAE
Sector: E-commerce / Marketplace
Size: Two employees
Funding stage: Seed investment
Initial investment: $200,000
Investors: Amr Manaa (director, PwC Middle East)
if you go
The flights
Etihad and Emirates fly direct from the UAE to Seoul from Dh3,775 return, including taxes
The package
Ski Safari offers a seven-night ski package to Korea, including five nights at the Dragon Valley Hotel in Yongpyong and two nights at Seoul CenterMark hotel, from £720 (Dh3,488) per person, including transfers, based on two travelling in January
The info
Visit www.gokorea.co.uk
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE%20
%3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A
The specs: Macan Turbo
Engine: Dual synchronous electric motors
Power: 639hp
Torque: 1,130Nm
Transmission: Single-speed automatic
Touring range: 591km
Price: From Dh412,500
On sale: Deliveries start in October
Donating your hair
• Your hair should be least 30 cms long, as some of the hair is lost during manufacturing of the wigs.
• Clean, dry hair in good condition (no split ends) from any gender, and of any natural colour, is required.
• Straight, wavy, curly, permed or chemically straightened is permitted.
• Dyed hair must be of a natural colour
Who are the Sacklers?
The Sackler family is a transatlantic dynasty that owns Purdue Pharma, which manufactures and markets OxyContin, one of the drugs at the centre of America's opioids crisis. The family is well known for their generous philanthropy towards the world's top cultural institutions, including Guggenheim Museum, the National Portrait Gallery, Tate in Britain, Yale University and the Serpentine Gallery, to name a few. Two branches of the family control Purdue Pharma.
Isaac Sackler and Sophie Greenberg were Jewish immigrants who arrived in New York before the First World War. They had three sons. The first, Arthur, died before OxyContin was invented. The second, Mortimer, who died aged 93 in 2010, was a former chief executive of Purdue Pharma. The third, Raymond, died aged 97 in 2017 and was also a former chief executive of Purdue Pharma.
It was Arthur, a psychiatrist and pharmaceutical marketeer, who started the family business dynasty. He and his brothers bought a small company called Purdue Frederick; among their first products were laxatives and prescription earwax remover.
Arthur's branch of the family has not been involved in Purdue for many years and his daughter, Elizabeth, has spoken out against it, saying the company's role in America's drugs crisis is "morally abhorrent".
The lawsuits that were brought by the attorneys general of New York and Massachussetts named eight Sacklers. This includes Kathe, Mortimer, Richard, Jonathan and Ilene Sackler Lefcourt, who are all the children of either Mortimer or Raymond. Then there's Theresa Sackler, who is Mortimer senior's widow; Beverly, Raymond's widow; and David Sackler, Raymond's grandson.
Members of the Sackler family are rarely seen in public.
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Polarised public
31% in UK say BBC is biased to left-wing views
19% in UK say BBC is biased to right-wing views
19% in UK say BBC is not biased at all
Source: YouGov
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Bareilly Ki Barfi
Directed by: Ashwiny Iyer Tiwari
Starring: Kriti Sanon, Ayushmann Khurrana, Rajkummar Rao
Three and a half stars
Generational responses to the pandemic
Devesh Mamtani from Century Financial believes the cash-hoarding tendency of each generation is influenced by what stage of the employment cycle they are in. He offers the following insights:
Baby boomers (those born before 1964): Owing to market uncertainty and the need to survive amid competition, many in this generation are looking for options to hoard more cash and increase their overall savings/investments towards risk-free assets.
Generation X (born between 1965 and 1980): Gen X is currently in its prime working years. With their personal and family finances taking a hit, Generation X is looking at multiple options, including taking out short-term loan facilities with competitive interest rates instead of dipping into their savings account.
Millennials (born between 1981 and 1996): This market situation is giving them a valuable lesson about investing early. Many millennials who had previously not saved or invested are looking to start doing so now.
The%20specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
More on animal trafficking