London's fashion scene has always been known more for its creative spirit than its business acumen.
London's fashion scene has always been known more for its creative spirit than its business acumen.
London's fashion scene has always been known more for its creative spirit than its business acumen.
London's fashion scene has always been known more for its creative spirit than its business acumen.

London Fashion Week gets back into the swing


  • English
  • Arabic

Oh what a fickle world is fashion. Last September, London Fashion Week was fighting for its credibility, even its very existence, as a tyrannical New York threatened to crush London's six days of shows into four by expanding its fashion week to eight days. Summits were held, compromises bashed out and eventually an agreement was reached, but Gotham had cast a threatening shadow over that season's proceedings as London's underdog status reached new limits. After all, back then, if the British Fashion Council had threatened to overlap with New York, the response would probably have been: "Go ahead, punks, make our week."

How quickly we forget. This September, English brands in New York including Matthew Williamson and Burberry will be transferring their loyalties, at least temporarily, back to London Fashion Week. In less than a year, the recession has hurt fashion around the globe, not least in America, bursting that shiny but fragile bubble that the luxury world had been happily floating along in for so long. Last season's New York shows were hugely scaled back, with many big designers opting for showroom and video presentations instead of expensive catwalk shows. The casualties have been too many to count, from the massive job losses at department stores like Saks Fifth Avenue and Macy's to the closure of high-profile but shaky brands such as Bill Blass. Recent victims of the recession have included Veronique Branquinho, the Belgian designer who celebrated 10 years in the business last year, and, horror of horrors, Christian Lacroix, who recently sought the protection of the French courts from his creditors.

All of which means that this coming season's 25th anniversary celebrations of London Fashion Week couldn't have come at a more appropriate time. London's fashion scene has always been known more for its weird and wonderful creative spirit than its business acumen, throwing out opportunities for emerging designers with its New Gen scheme (which launched, among others, the careers of Alexander McQueen and Matthew Williamson). The city's designers are used to being a touch more financially straitened than those belonging to the fashion giants such as LVMH, Gucci Group and Richemont, so a bit of economic gloom simply feeds their creativity rather than frightening them into safety.

It's only mid-June and already a parade of British designers have started to return to the LFW fold from their usual spots abroad. The latest to announce a London Fashion Week show is Pringle of Scotland, headed by the creative director Clare Waight Keller. Normally showing in Milan, the knitwear brand also celebrates its 195th anniversary this year - not one of the classic anniversaries, admittedly, but that needn't get in the way of good fashion synergy.

Matthew Williamson will show in London for only the second time since 2002. He usually heads to New York for his presentations. The last time he hit London was in 2007, for his 10th anniversary collection, when he recruited Prince to sing on the catwalk. The audience will be expecting something equally fabulous this season - especially as he seems to be having a recession-busting year in terms of adoration and public presence.

The big scoop, though, for LFW has been Burberry's return to its home city, after eight years of showing in Milan. Burberry may be best known for its classic range of check-bedecked bags and scarves, beloved of WAGs and soap stars, but the Burberry Prorsum collection, designed by the quietly brilliant Christopher Bailey, has been one of the most influential brands of the decade, and will bring some serious credibility to London Fashion Week. (Although the company's recent announcement of job losses in its Yorkshire factories, following from its closure of a Welsh factory in 2007, prompting the Keep Burberry British campaign, may see a few murmurings of discontent in the vicinity.)

With such big names making a stand for British fashion, it's easy to overlook the current crop of agenda-setting designers that still show in London, from Christopher Kane to Nathan Jenden and Erdem. These are brands that have stealthily been making inroads into the Middle East, with shops like Boutique 1, Harvey Nichols and Villa Moda picking up emerging names in recent seasons. The fashion week will also undergo some cosmetic changes, moving from its traditional tent at the Natural History Museum to the splendid setting of Somerset House on the Strand, which should add some gravitas to the proceedings.

Things are looking good, then, for the British capital's fashion scene, and from the ashes of a recession-hit city could rise the neon-coloured phoenix it needs to keep competing.

Temple numbers

Expected completion: 2022

Height: 24 meters

Ground floor banquet hall: 370 square metres to accommodate about 750 people

Ground floor multipurpose hall: 92 square metres for up to 200 people

First floor main Prayer Hall: 465 square metres to hold 1,500 people at a time

First floor terrace areas: 2,30 square metres  

Temple will be spread over 6,900 square metres

Structure includes two basements, ground and first floor 

Game Of Thrones Season Seven: A Bluffers Guide

Want to sound on message about the biggest show on television without actually watching it? Best not to get locked into the labyrinthine tales of revenge and royalty: as Isaac Hempstead Wright put it, all you really need to know from now on is that there’s going to be a huge fight between humans and the armies of undead White Walkers.

The season ended with a dragon captured by the Night King blowing apart the huge wall of ice that separates the human world from its less appealing counterpart. Not that some of the humans in Westeros have been particularly appealing, either.

Anyway, the White Walkers are now free to cause any kind of havoc they wish, and as Liam Cunningham told us: “Westeros may be zombie land after the Night King has finished.” If the various human factions don’t put aside their differences in season 8, we could be looking at The Walking Dead: The Medieval Years

 

Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

MOTHER%20OF%20STRANGERS
%3Cp%3EAuthor%3A%20Suad%20Amiry%3Cbr%3EPublisher%3A%20Pantheon%3C%2Fp%3E%0A%3Cp%3EPages%3A%20304%3Cbr%3EAvailable%3A%20Now%3C%2Fp%3E%0A

Miss Granny

Director: Joyce Bernal

Starring: Sarah Geronimo, James Reid, Xian Lim, Nova Villa

3/5

(Tagalog with Eng/Ar subtitles)

UAE currency: the story behind the money in your pockets

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.”

%3Cp%3EMATA%0D%3Cbr%3EArtist%3A%20M.I.A%0D%3Cbr%3ELabel%3A%20Island%0D%3Cbr%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
'Hocus%20Pocus%202'
%3Cp%3EDirector%3A%20Anne%20Fletcher%3Cbr%3E%3Cbr%3EStars%3A%20Bette%20Midler%2C%20Sarah%20Jessica%20Parker%2C%20Kathy%20Najimy%3Cbr%3E%3Cbr%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
RESULTS

Catchweight 82kg
Piotr Kuberski (POL) beat Ahmed Saeb (IRQ) by decision.

Women’s bantamweight
Corinne Laframboise (CAN) beat Cornelia Holm (SWE) by unanimous decision.

Welterweight
Omar Hussein (PAL) beat Vitalii Stoian (UKR) by unanimous decision.

Welterweight
Josh Togo (LEB) beat Ali Dyusenov (UZB) by unanimous decision.

Flyweight
Isaac Pimentel (BRA) beat Delfin Nawen (PHI) TKO round-3.

Catchweight 80kg​​​​​​​
Seb Eubank (GBR) beat Emad Hanbali (SYR) KO round 1.

Lightweight
Mohammad Yahya (UAE) beat Ramadan Noaman (EGY) TKO round 2.

Lightweight
Alan Omer (GER) beat Reydon Romero (PHI) submission 1.

Welterweight
Juho Valamaa (FIN) beat Ahmed Labban (LEB) by unanimous decision.

Featherweight
Elias Boudegzdame (ALG) beat Austin Arnett (USA) by unanimous decision.

Super heavyweight
Maciej Sosnowski (POL) beat Ibrahim El Sawi (EGY) by submission round 1.

MATCH INFO

Euro 2020 qualifier

Ukraine 2 (Yaremchuk 06', Yarmolenko 27')

Portugal 1 (Ronaldo 72' pen)

Other simple ideas for sushi rice dishes

Cheat’s nigiri 
This is easier to make than sushi rolls. With damp hands, form the cooled rice into small tablet shapes. Place slices of fresh, raw salmon, mackerel or trout (or smoked salmon) lightly touched with wasabi, then press, wasabi side-down, onto the rice. Serve with soy sauce and pickled ginger.

Easy omurice
This fusion dish combines Asian fried rice with a western omelette. To make, fry cooked and cooled sushi rice with chopped vegetables such as carrot and onion and lashings of sweet-tangy ketchup, then wrap in a soft egg omelette.

Deconstructed sushi salad platter 
This makes a great, fuss-free sharing meal. Arrange sushi rice on a platter or board, then fill the space with all your favourite sushi ingredients (edamame beans, cooked prawns or tuna, tempura veggies, pickled ginger and chilli tofu), with a dressing or dipping sauce on the side.

MATCH INFO

Uefa Champions League semi-final, second leg
Real Madrid (2) v Bayern Munich (1)

Where: Santiago Bernabeu, Madrid
When: 10.45pm, Tuesday
Watch Live: beIN Sports HD

While you're here
Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.