• A cocktail dress with a train at the Max Mara autumn/winter 2023 show. AFP
    A cocktail dress with a train at the Max Mara autumn/winter 2023 show. AFP
  • At Max Mara, many looks came with polished corset belts. Getty Images
    At Max Mara, many looks came with polished corset belts. Getty Images
  • Flashes of 18th-century pannier skirts at Max Mara. Getty Images
    Flashes of 18th-century pannier skirts at Max Mara. Getty Images
  • Muted, earthy tones featured heavily at Max Mara. Getty Images
    Muted, earthy tones featured heavily at Max Mara. Getty Images
  • The Max Mara show opened with the famous teddy coat rethought as a hooded cape. Reuters
    The Max Mara show opened with the famous teddy coat rethought as a hooded cape. Reuters
  • Model Nora Attal walks for Max Mara. AFP
    Model Nora Attal walks for Max Mara. AFP
  • The autumn/winter 2023 Moschino collection took its cues from punk culture. Getty Images
    The autumn/winter 2023 Moschino collection took its cues from punk culture. Getty Images
  • A lilac ballgown at Moschino. EPA
    A lilac ballgown at Moschino. EPA
  • A Moschino dress featured a collar stretched to almost cover the face. Getty Images
    A Moschino dress featured a collar stretched to almost cover the face. Getty Images
  • A cropped parka jacket from the Prada autumn/winter 2023 collection. EPA
    A cropped parka jacket from the Prada autumn/winter 2023 collection. EPA
  • At Prada, a white shirt is lengthened into a dress with a train. EPA
    At Prada, a white shirt is lengthened into a dress with a train. EPA
  • A white skirt is decorated in bridal flowers at Prada. EPA
    A white skirt is decorated in bridal flowers at Prada. EPA
  • Model Gigi Hadid wears an embellished grey look at the Prada autumn/winter 2023 show. EPA
    Model Gigi Hadid wears an embellished grey look at the Prada autumn/winter 2023 show. EPA
  • A sculpted jacket and skirt in uniform grey at Prada. EPA
    A sculpted jacket and skirt in uniform grey at Prada. EPA
  • Model Kendall Jenner in a duffle coat at Prada. AFP
    Model Kendall Jenner in a duffle coat at Prada. AFP

Milan Fashion Week day two highlights, featuring Prada, Max Mara and Moschino


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Inside an elegant, vaulted building, Max Mara delivered a show it dubbed The Camelocracy, in reference to the many shades of sand, caramel, fawn and mocha it presented.

Inspired by Emilie du Chatelet — an 18th-century free-spirited marquise and intellect — the collection was understated yet luxurious.

The famous teddy coat was remade into a dramatic hooded cape, trousers were designed in rich brocade and waists were cinched with wide, polished leather corset belts. Coats were softened with trailing Watteau backs, or hung off one shoulder thanks to leather straps.

Double-breasted suits and parka coats were rich, luscious and exquisitely tailored, while wide-legged trousers were given a modern twist, worn with tailored bustier tops.

Exaggerated shapes featured throughout the collection, in the form of cravat-like collars on crisp white shirts and mini skirts with voluminous trains.

Across town at Prada, in the brutalist concrete space of Fondazione Prada, the show opened with huge garlands of flowers descending from the ceiling to encase the pillars holding the ceiling up. Why? Because the show was a celebration of the unseen. It was about transforming the mundane and overlooked into something remarkable.

A swing coat from the Prada autumn/winter 2023-2024 collection during Milan Fashion Week. Reuters
A swing coat from the Prada autumn/winter 2023-2024 collection during Milan Fashion Week. Reuters

Simple white shirts were lengthened into column dresses and given long trains, while bridal embroidery was scattered on simple skirts. Working men’s donkey jackets and duffle coats were also made in lean, floor-length shapes with added volume at the back, creating something new and extraordinary. As a uniform standard colour, grey featured heavily, worn with pointed shoes and flashes of pink, mulberry and mustard, forcing us look at it with fresh eyes.

In this age of mobile phones, most finale parades of models and the appearance of the designer on the runway are unfortunately greeted with near silence, as those in attendance try to capture the moment. Tellingly, when Miuccia Prada and her co-creative director Raf Simons appeared, the applause was deafening.

Rounding out the day was Moschino and, as ever, designer Jeremy Scott was clearly in a playful mood. Inspired by the aggressive hedonism of punk, models stepped on to the runway with huge, spiked hair. The collection featured plenty of the neat twin sets that Moschino's customers adore, intermixed with flashes of the subversive chaos Scott does so well.

There were vast ballgowns in ice cream shades, a black leather dress was created from a biker jacket, and bags, buckles, and shoes all appeared to be melting, with drips caught mid-fall. It was noisy, riotous fun.

What is Reform?

Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.

It was founded in 2018 and originally called the Brexit Party.

Many of its members previously belonged to UKIP or the mainstream Conservatives.

After Brexit took place, the party focused on the reformation of British democracy.

Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.

The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.

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.”

Five expert hiking tips
    Always check the weather forecast before setting off Make sure you have plenty of water Set off early to avoid sudden weather changes in the afternoon Wear appropriate clothing and footwear Take your litter home with you
Western Region Asia Cup T20 Qualifier

Sun Feb 23 – Thu Feb 27, Al Amerat, Oman

The two finalists advance to the Asia qualifier in Malaysia in August

 

Group A

Bahrain, Maldives, Oman, Qatar

Group B

UAE, Iran, Kuwait, Saudi Arabia

 

UAE group fixtures

Sunday Feb 23, 9.30am, v Iran

Monday Feb 25, 1pm, v Kuwait

Tuesday Feb 26, 9.30am, v Saudi

 

UAE squad

Ahmed Raza, Rohan Mustafa, Alishan Sharafu, Ansh Tandon, Vriitya Aravind, Junaid Siddique, Waheed Ahmed, Karthik Meiyappan, Basil Hameed, Mohammed Usman, Mohammed Ayaz, Zahoor Khan, Chirag Suri, Sultan Ahmed

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THE SPECS

Touareg Highline

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Transmission: 8-speed automatic

Power: 340hp

Torque: 450Nm

Price: Dh239,312

THE SPECS

      

 

Engine: 1.5-litre

 

Transmission: 6-speed automatic

 

Power: 110 horsepower 

 

Torque: 147Nm 

 

Price: From Dh59,700 

 

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T20 World Cup Qualifier fixtures

Tuesday, October 29

Qualifier one, 2.10pm – Netherlands v UAE

Qualifier two, 7.30pm – Namibia v Oman

Wednesday, October 30

Qualifier three, 2.10pm – Scotland v loser of qualifier one

Qualifier four, 7.30pm – Hong Kong v loser of qualifier two

Thursday, October 31

Fifth-place playoff, 2.10pm – winner of qualifier three v winner of qualifier four

Friday, November 1

Semi-final one, 2.10pm – Ireland v winner of qualifier one

Semi-final two, 7.30pm – PNG v winner of qualifier two

Saturday, November 2

Third-place playoff, 2.10pm

Final, 7.30pm

Updated: February 24, 2023, 10:38 AM