Hong Kong-born jeweller Anabela Chan recently flew into Dubai from her home in London to launch a year-long residency at Bayt Damas. The villa brings together high jewellery, art and fashion under one roof. The concept, says Chan, “is about creating elements of surprise and discovery, and so we were delighted to be invited to take this space”.
Viewed alongside her neighbours in the villa, which include illustrious brands such as Graff, Sabyasachi and Mikimoto, her glamorous jewels serve up one particular surprise. The dreamy pieces draw inspiration from exotic birds, mermaids, seashells, fossils and butterflies.
The colours are vibrant, the craftsmanship is flawless and the scale is voluminous. Her rings, earrings and necklaces are as lavish as high jewellery, but they are also somewhat provocative because they are created from aluminium, recycled precious metals and laboratory-grown gemstones.
Chan’s brand philosophy is built on sustainability. The gold and silver she uses is recycled and the aluminium originally comes from canned drinks. It is sustainably recycled, purified, shaped into fantastical florals and sea creatures, and then coated in vibrant iridescent colours.
Her pearls are sustainably sourced from the Philippines. Her diamonds are chemically identical to natural diamonds but grown in a laboratory at the Diamond Foundry in California, while the other gemstones come from labs in Japan, Korea and Belgium and are faceted exactly like a natural stone.
Reactions to the gemstones on view at Bayt Damas have been positive, says Chan. “It is very refreshing for them to see what these lab-grown gemstones can do at their full potential, in settings that have the craftsmanship of high jewellery.”
The price point is also significant, with rings and earrings from £1,500 ($2,000) and necklaces from £3,300. “To be able to offer this level of craftsmanship and design at our price point is a unique proposition.”
Clients, she says, “love the colours of our aluminium pieces because they are so unusual. The colours of the gemstones and the metal settings imbued with iridescence is quite magical.”
She recalls one shy young woman casually browsing the rings in Dubai. Chan encouraged her to try them on, because she wants customers to enjoy the experience fully. “It should be fun, not daunting. She put on the ring and she lit up. That, for me, is the magic. It’s how you feel, and she just bloomed. Jewellery has that power.”
The sumptuous colours and sustainable slant of her pieces resonate in Hollywood. Chan has become a red-carpet favourite for Lady Gaga, Beyoncé, Taylor Swift and Rihanna, and her jewels regularly feature in music videos, including for Cardi B’s Up.
Chan herself cuts a strikingly glamorous figure, with brightly coloured jackets and blouses to contrast her long black hair, statement earrings and a signature slash of red lipstick. Perhaps that love of glamour is inherited from her great-grandmother, Wu Lai Chu, who was the first female action movie star in Shanghai in the 1940s.
Her daughter, Chan’s grandmother, Ren Yi Chi, the first female film director in Hong Kong in the 1950s and ‘60s, was a pioneering spirit and highly respected.
Chan was born in Hong Kong and educated in England, where she displayed a strong artistic flair. She originally studied architecture and joined Lord Richard Rogers’ prestigious firm, working in New York on the Tower Three project at Ground Zero in 2006 and 2007.
Fashion, though, was her passion, and while studying architecture in the early noughties she landed an internship with Alexander McQueen, working on print and embroidery designs during her holidays, evenings and weekends for seven years. “Whenever they needed help for the collections”, she recalls.
She spent some time designing for well-known British high street brand All Saints and then secured a spot on the Royal College of Art’s goldsmithing, silversmithing, metalwork and jewellery master’s course in 2011. After she graduated in 2013, Chan launched her eponymous brand, drawing on all the business experience she learnt at All Saints. She opened her first shop at Ham Yard Hotel in London’s Soho the following year and in 2020 moved to a bigger boutique on Sloane Street in Knightsbridge.
The interior of the new flagship store reveals an unexpected love for taxidermy, with a stuffed pink cockatoo and antique Victorian glass domes displaying butterflies, all of which inspire the dreamy romanticism of her collections. Her latest, which features among showcase pieces from her previous 14 collections at Bayt Damas, is called Mermaid’s Tale and is based on evocative marine photography. Iridescent blues and greens of fish and aquatic life on the coral reef are handcrafted into rings, earrings and necklaces.
This is her fourth trip to Dubai and her first business trip out of the UK since the pandemic. “This time it was really buzzing and vibrant," she says.
MANDOOB
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THREE
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The story of Edge
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.
It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.
Edge has an annual revenue of $5 billion and employs more than 12,000 people.
Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
COMPANY%20PROFILE
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Superliminal%20
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How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
BELGIUM%20SQUAD
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Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
Elvis
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KILLING OF QASSEM SULEIMANI
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.”
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
How to become a Boglehead
Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.
• Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.
• Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.
• Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.
• Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.
• Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.
• Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.
• Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.
• Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.
Ad Astra
Director: James Gray
Stars: Brad Pitt, Tommy Lee Jones
Five out of five stars
Avatar%3A%20The%20Way%20of%20Water
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Company%20profile
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The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
The biog
Hometown: Cairo
Age: 37
Favourite TV series: The Handmaid’s Tale, Black Mirror
Favourite anime series: Death Note, One Piece and Hellsing
Favourite book: Designing Brand Identity, Fifth Edition
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
More from Rashmee Roshan Lall
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England's Ashes squad
Joe Root (captain), Moeen Ali, Jimmy Anderson, Jofra Archer, Jonny Bairstow, Stuart Broad, Rory Burns, Jos Buttler, Sam Curran, Joe Denly, Jason Roy, Ben Stokes, Olly Stone, Chris Woakes.
If you go
Flying
Despite the extreme distance, flying to Fairbanks is relatively simple, requiring just one transfer in Seattle, which can be reached directly from Dubai with Emirates for Dh6,800 return.
Touring
Gondwana Ecotours’ seven-day Polar Bear Adventure starts in Fairbanks in central Alaska before visiting Kaktovik and Utqiarvik on the North Slope. Polar bear viewing is highly likely in Kaktovik, with up to five two-hour boat tours included. Prices start from Dh11,500 per person, with all local flights, meals and accommodation included; gondwanaecotours.com