Jennifer Lopez
Jennifer Lopez already wears many hats — as an actor, a singer and entrepreneur. But now, she has signed an agreement to take on a double role as an investor and chief entertainment and lifestyle officer for Virgin Voyages, the cruise line founded by British billionaire Richard Branson.
The size of Lopez’s investment has not been disclosed.
The collaboration was announced via a YouTube video that features Mr Branson and Lopez on a FaceTime call.
The travel company, formerly called Virgin Cruises, said the move aims to redefine the nautical tradition of appointing a godmother from a ceremonial role to a modern, partnership with one of the world’s most powerful artists that will help shape the future of travel.
Lopez will work with Branson and Virgin Voyages to promote sailor well-being, while designing collaborations and entertainment throughout 2022. The partnership sets sail with the introduction of JLo Beauty products as part of the company’s on-board offerings, the first time the brand will be retailed on the high seas.
On Lopez’s behalf, the company is also offering $200 in on-board credit to travellers who make new bookings until March 31.
“My artistic and social mission is to empower, inspire and entertain,” Lopez said. “Any opportunity that I get to combine all these attributes into a partnership and collaboration is exciting for me.
“I admire Sir Richard and all he has built. I am inspired by Virgin Voyages’ dedication to creating irresistible experiences and focus on well-being, which all fits perfectly with my own lifestyle and brand ethos.”
My artistic and social mission is to empower, inspire and entertain
Jennifer Lopez,
actor
After launching operations with an adults-only cruise ship last year, Virgin Voyages recently debuted a second ship to leverage what is hoped will be a summer cruising boom as pandemic restrictions ease. A third ship is planned to enter service in August.
Lopez, 52, has an estimated net worth of $400 million, according to wealth tracking website Celebrity Net Worth.
Her fortune is almost entirely self-made.
A significant portion comes from eight studio albums and supporting tours and residencies over a two-decade career. Her 2019 It’s My Party world tour took in $68.4m from 33 performances, including stops in Egypt, Israel and Russia.
Movie and television work, including production credits, account for another chunk of Lopez’s earnings.
In 1997, she became the first Latin actress to earn more than $1m for a film, for her work on the biopic of Tejano singer Selena. Last month, Lopez’s newest film, Marry Me, became the most-streamed movie on US service Peacock. It has grossed $47m worldwide. Lopez’s Nuyorican Productions produced the film.
But the American Idol guest judge also pulls in millions of dollars annually from endorsements for brands such as fashion labels Versace, Guess and cosmetics company L’Oreal.
In addition, she has her own business ventures. In 2020, Lopez partnered with discount shoe chain DSW. She has created more than two dozen fragrances and the latest, One, hit stores recently.
Lopez also has a sizeable real estate portfolio that includes properties in Miami, Los Angeles and New York City.
As an investor, Lopez has a stake in seven companies, mostly alongside her former fiancé, baseball player Alex Rodriguez aka A-Rod.
These include Super Coffee, Quay Australia sunglasses, the Fitplan fitness app, FinTech company Acorns and yoga start-up Sarva. Their share of the wellness company Hims & Hers is thought to have earned them as much as $79m when it went public in January last year.
In 2020, Lopez and Rodriguez lost out on buying the New York Mets baseball franchise. The couple put in $300m of their own money as part of a group of investors bidding $1.7 billion for the team. They lost out to hedge fund manager Steve Cohen.
Rodriguez also made news last week after he and his business partner, Marc Lore, announced their support for a new company called Mojo. It aims to create a “stock market” for professional athletes, where fans can buy and sell players at specific values based on their on-field performances.
Sara Ali Khan
Bollywood actor Sara Ali Khan has invested an undisclosed amount in casual apparel brand The Souled Store (TSS).
Ali Khan, 26, is also endorsing a new garment line for the primarily online retailer. She said the store, which has 180 licences, including Disney, Warner Bros, WWE and IPL, has carved a niche for itself in the casual wear space within a short period of time.
“Being an ardent pop-culture lover, and a firm believer in originality and comfort being as important as fashion, I see the brand as a perfect fit to invest in. I look forward to being part of the TSS family,” she said.
The start-up raised 750m Indian rupees ($9.7m) in a Series B funding round led by Elevation Capital last August.
Ali Khan is reported to have a net worth of between $3m and $5m, according to Indian media.
Her income stems from her earnings as an actor and from endorsement deals. She is reported to earn 20m Indian rupees per film. Separately, Ali Khan has deals with brands such as Fanta, Puma, Veet and Garnier.
Mark Wahlberg
Actor, producer and businessman Mark Wahlberg has added the P448 sneaker brand to his equity portfolio with a significant minority investment, owner StreetTrend said last week.
“I am excited to be a part of such a unique brand that fits my personal style and cares about sustainability. StreetTrend chief executive Wayne Kulkin is a passionate and knowledgeable sneakerhead, and I look forward to being part of this project,” Wahlberg said in a statement.
Wahlberg has more than half a dozen business ventures and brand investments. These include Municipal clothing line, Wahlburgers restaurant chain and his film production company, Unrealistic Ideas.
Last year, the former rapper saw an estimated $200m return on his investment into the F45 fitness chain after the company went public in July.
The 50-year-old Boogie Nights star has a net worth estimated at $300m.
Paris Hilton
Paris Hilton’s latest larger-than-life move is investing in a company that wants to bring the woolly mammoth back to life.
Although the woolly mammoth has been extinct for 4,000 years, Dallas-based Colossal Laboratories and Biosciences believes reintroducing the prehistoric animal to the Arctic tundra will help reverse degradation of the ecosystem and biodiversity loss.
The heiress participated in a $60m funding round last week alongside businessman and Jurassic World executive producer Thomas Tull, founder and former chief executive of Legendary Entertainment.
Colossal launched in September with $15m in seed funding. Among its previous investors are bestselling author Tony Robbins and crypto evangelists Cameron and Tyler Winklevoss of Winklevoss Capital.
Hilton, 41, has a net worth of about $300m. The original famous-for-being-famous celebrity has amassed her fortune from a range of retail businesses, including more than 50 stores and 19 international fragrances and other product lines that have generated over $4bn in sales.
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Results
2.15pm: Handicap Dh80,000 1,950m
Winner: Hello, Tadhg O’Shea (jockey), Ali Rashid Al Raihi (trainer).
2.45pm: Handicap Dh90,000 1,800m
Winner: Right Flank, Pat Dobbs, Doug Watson.
3.15pm: Handicap Dh115,000 1,000m
Winner: Leading Spirit, Richard Mullen, Satish Seemar.
3.45pm: Jebel Ali Mile Group 3 Dh575,000 1,600m
Winner: Chiefdom, Royston Ffrench, Salem bin Ghadayer.
4.15pm: Handicap Dh105,000 1,400m
Winner: Ode To Autumn, Patrick Cosgrave, Satish Seemar.
4.45pm: Shadwell Farm Conditions Dh125,000 1,200m
Winner: Last Surprise, James Doyle, Simon Crisford.
5.15pm: Handicap Dh85,000 1,200m
Winner: Daltrey, Sandro Paiva, Ali Rashid Al Raihi.
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
Kibsons%20Cares
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Empire of Enchantment: The Story of Indian Magic
John Zubrzycki, Hurst Publishers
How Beautiful this world is!
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Full Party in the Park line-up
2pm – Andreah
3pm – Supernovas
4.30pm – The Boxtones
5.30pm – Lighthouse Family
7pm – Step On DJs
8pm – Richard Ashcroft
9.30pm – Chris Wright
10pm – Fatboy Slim
11pm – Hollaphonic
The biog
Favourite book: Animal Farm by George Orwell
Favourite music: Classical
Hobbies: Reading and writing
UJDA CHAMAN
Produced: Panorama Studios International
Directed: Abhishek Pathak
Cast: Sunny Singh, Maanvi Gagroo, Grusha Kapoor, Saurabh Shukla
Rating: 3.5 /5 stars
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
The specs
Engine: 2.5-litre, turbocharged 5-cylinder
Transmission: seven-speed auto
Power: 400hp
Torque: 500Nm
Price: Dh300,000 (estimate)
On sale: 2022
Barcelona 3
Messi (27’, 32’, 87’)
Leganes 1
El Zhar (68’)
Visa changes give families fresh hope
Foreign workers can sponsor family members based solely on their income
Male residents employed in the UAE can sponsor immediate family members, such as wife and children, subject to conditions that include a minimum salary of Dh 4,000 or Dh 3,000 plus accommodation.
Attested original marriage certificate, birth certificate of the child, ejari or rental contract, labour contract, salary certificate must be submitted to the government authorised typing centre to complete the sponsorship process
In Abu Dhabi, a woman can sponsor her husband and children if she holds a residence permit stating she is an engineer, teacher, doctor, nurse or any profession related to the medical sector and her monthly salary is at least Dh 10,000 or Dh 8,000 plus accommodation.
In Dubai, if a woman is not employed in the above categories she can get approval to sponsor her family if her monthly salary is more than Dh 10,000 and with a special permission from the Department of Naturalization and Residency Dubai.
To sponsor parents, a worker should earn Dh20,000 or Dh19,000 a month, plus a two-bedroom accommodation
Get Out
Director: Jordan Peele
Stars: Daniel Kaluuya, Allison Williams, Catherine Keener, Bradley Whitford
Four stars
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
SPECS
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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.”
2017%20RESULTS%3A%20FRENCH%20VOTERS%20IN%20UK
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