With only days to go until the premiere of the musical Coco Chanel on MBC's paid subscription service Shahid VIP, its Egyptian star Sherihan has been posting photos to give viewers a taste of what it will be like.
In a real-life tale of rags to riches, the musical will tell the story of how Gabrielle "Coco" Chanel rose from an orphanage to become one of the most influential designers of the 20th century.
Actress, dancer and singer Sherihan is making her big stage return to much acclaim, after a nearly two-decade hiatus.
Scheduled to be broadcast on Tuesday, to coincide with the start of Eid Al Adha, the lavish musical production is the culmination of months of work by director Hadi El Bagoury, choreographer Hani Abaza and music distributor Fahd.
Behind the scenes, there are countless people helping to bring the project to life, including costume designer Reem El Adl, one of the team responsible for creating the clothes for both the dancers and actors, and Sherihan herself.
Looks she had a hand in creating include a circa 1910 dress of pale pink lace and pintucks, with a velvet bow, and worn with Chanel’s trademark pearls.
She's also fashioned a more masculine look out of a shirt and trousers, with a bow tie left hanging open at the neck, while another outfit is a severe black tweed jacket and skirt, the austerity of which is broken with a simple ruff of chiffon at the neck and cuff, and pearl buttons. Sherihan wears it with Chanel's signature pulled-back hairstyle of the designer's later years.
For El Adl and her teammates, the pressure was on to create looks that not only remained true to Chanel, but also allowed the actors to move without restriction. For example, one dress Sherihan wears had to allow her to be lifted high above the stage. For the costume designers, this meant cutting the costume to disguise the integrated safety harness needed to execute the stunt.
“For me, the musical play was a very interesting experience that gave me the chance to learn a lot, especially through the advice I received from Sherihan,” El Adl said.
In another scene, we see Sherihan wearing a black and white beaded gown, in front of the famous spiral staircase in the Chanel atelier at 31 rue Cambon, Paris. While the dress may not be very Chanel, the staircase is part of folklore. In reality, Chanel had it lined with mirrors so she could gauge an audience's reaction to her collections, while remaining hidden upstairs.
Needing to balance the famously strict look of the designer and the flamboyant glamour of Egypt, was no easy task. But El Adl says Sherihan was able to help bridge this gap, thanks to her “extensive theatre experience and knowledge”, helping to guide her on "how to choose the designs, and what materials fit the best for a musical play".
“I loved the experience,” said El Adl. "I hope we work together again in the future.”
With years of experience under her belt, El Adl has created the outfits for films including Al saffah, Clash, Mawlana, Sheikh Jackson, as well as Ahmad Abdalla’s Exterior/Night, which earned her the award for Best Costume Design at the Egyptian National Film Festival.
In what must have been a bizarre scenario, El Adl competed against herself for the award, as another film she worked on, El Deif (The Guest) by El Bagoury, was nominated for the same category.
More recently, El Adl joined the jury of the Alexandria Short Film Festival, as part of her ongoing support for emerging filmmakers.
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Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
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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.”