Things are coming up roses, in fashion at least. How do we know this? Because the autumn/winter 2012/13 Paris catwalks are full of heavy black wool, the show soundtracks are hard, grinding techno and the models are stomping and glaring like angry robots.
Yes, I know: doesn't sound too cheery. But it tells us a lot. It tells us that we no longer need comforting, cheering colour, nostalgic songs and soft, glamorous gowns to give us a little escapism from hard times. It also tells us that the designers of Paris have almost unanimously decided to defy the safe-playing of the past five or so seasons in favour of challenging fabrics and uncompromising silhouettes. They have increased the party quotient, too; that side of fashion week never really stopped, of course, but this season offered bigger and better soirées, from Alber Elbaz's celebration of 10 years at Lanvin to Dior's feting of Victoire De Castellane's latest jewellery collection, at which the Caribbean-disco-funk legends Kid Creole & the Coconuts set the crowd whooping.
Parties aside, the shows themselves felt confident in their surliness - as they should, with luxury fashion continuing to pull in hefty profits. There was barely a reassuring smile to be seen, even at the usually giggly Sonia Rykiel, which offered some wearable 1970s-inspired pieces but rather lacked the joie de vivre that is the brand's trademark.
Bookending the week, Nina Ricci and Chanel both went heavy on black and purple, though the results were miles apart. Karl Lagerfeld's vision for Chanel threw together heavy black or grey tweeds, skin-tight trousers and jewel-coloured knits with giant pieces of crystalline jewellery, crystal-heeled shoes, iridescent metallic fabrics and even crystal-encrusted eyebrows on the models, who walked around a typically splendid set of Superman-style quartz stalagmites.
Peter Copping, meanwhile, went for an altogether more feminine approach at Nina Ricci, developing his delicate laces, lingerie silks, distressed tweeds and fluid satins to create a mood that was as exquisitely pretty as ever but far more gothic and even sultry - a haunting collection of exposed seams, torn tulle and dusty colours.
Copping was not the only designer to represent an eerie twilight in his clothes: Viktor & Rolf sent their models down a winding white path, watched over by a giant full moon and followed by wolf howls. The clothes were softer, smudgier, with rippling silk pyjama trousers and sheer, embellished 1940s evening gowns among the standout looks.
Those soft, silky pyjama pieces also made a languid appearance at the otherwise hyperactive Kenzo show, this time in jewel-hued block colours. The rest of the collection, held at a retro neon-lined university atrium (think The Jetsons meets Barbarella), was spikier, with the New York sassiness that creative directors Humberto Leon and Carol Lim have brought to the brand. Sporty, waisted silhouettes with springy skirts and big sculptural collars, wintry khaki and navy accented with sulphur yellow and Klein blue, and sharp little teddy-boy suits with big crepe-soled shoes had plenty of attitude.
Teddy boys also offered a subtle inspiration for Martin Grant, with clean 1950s-style silhouettes. Going for a presentation format rather than a catwalk made sense here, offering a view of the gorgeously origami-folded construction in springy silk gazar, to which the palette of cream, black, red and houndstooth check played a comfortable second fiddle.
In one coat, Grant panelled in black the yoke and sleeves of a cream leather dress, and that technique appeared elsewhere this season, including in some of Anne-Valérie Hash's beautifully sharp shawl-collared coats, which also had more than a hint of the teddy boy about their lean proportions. While there was plenty of the twisty draping on trousers and tops for which she is known, it was the sharper components of her tailoring that made an impact: shiny cropped jackets, pressed pleated silk trousers and a sequinned black tuxedo jumpsuit as glossy as oil.
Origami folding was, as ever, an important component in Roland Mouret's lovely collection, in which the blacks and greys were lightened by crisp pastel blue, yellow and lavender. The urban-girl-in-Aspen look was bang on the money - and a theme that reappeared at Paule Ka's chic-jet-setter presentation and in Chloé's warm, cosy duffels and jumpers.
Clare Waight Keller, Chloé's creative director, packed this relaxed collection with pastel pinks and blues, belted sleeveless jackets, wide, ballooning trousers and pretty floral creamy lace contrasted with bright red wool.
Some suits at Chloé were deliberately on the cusp of dowdy, an edge that was also a theme for Rochas, where dressing the bluestocking is an art form. Marco Zanini's charmingly gauche models wore either sweet, schoolgirlish knee-length pleats or leg-lengthening bell-bottoms, in a painterly checked silk. The overall palette was artfully off-colour, mixing mustards and browns with French blue, rust and aubergine.
Dior, still helmed by the interim designer Bill Gaytten, offered little to scare the customers, but the collections are becoming increasingly subtle and accomplished, even if they lack the extravagance of the brand's former designer John Galliano. Up close, the fabrics were as exquisite and innovative as ever, while on the catwalk, the perfectly judged palette of muted pinks, greys and neutrals (with one zingy splash of neon pink) was gentle enough to allow the New Look silhouettes to shine. Skirts were at the knee, mid-calf or floor, while cigarette trousers were cropped to just above the ankle, with ankle-strap platform shoes featuring the squared toe of the en pointe ballerina.
That other lover of mid-century couture, Giambattista Valli, offered a newly spiky attitude in his clothes. Starting with a heavy black-and-white knit, followed by monochrome prints, checks and tweeds, it took several looks before a bright red wiggle dress draped with chiffon acted as a reminder of his signature feminine style. The red was later pitched against burnt orange and black as a graphic print on stiff, straight shell tops and trousers, and it felt like a strong development on his sometimes excessively girlish style.
Jean Paul Gaultier's graffiti-splashed collection and Paco Rabanne's dark take on retro futurism both packed a stroppy punch, too, while Vivienne Westwood's play on royalty, from the Restoration to Marie-Antoinette, featured all her classic swathes of checked tweed and duchesse satin, as well as a feather-clad cyclist wearing giant platforms.
But it was Lanvin that stole the week. Elbaz knows just how to push the fashion crowd's buttons (bright colours, huge jewellery, directional ruffles and disco-dancing), but more than that, his collections of the past 10 years have worked as a progression of his genuinely distinctive aesthetic. To hold on to that visual identity, whatever trends may come, while still exciting, flattering and inspiring his customers, is a trick few designers can perform consistently, but Elbaz's sculptural pieces, which ranged from puritan simplicity to louche extravagance, tick all those boxes. This season at Lanvin? It was like last season, but newer and better.
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PROFILE
Name: Enhance Fitness
Year started: 2018
Based: UAE
Employees: 200
Amount raised: $3m
Investors: Global Ventures and angel investors
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Illegal%20shipments%20intercepted%20in%20Gulf%20region
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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.”
Company profile
Company: Verity
Date started: May 2021
Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif
Based: Dubai
Sector: FinTech
Size: four team members
Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000
Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors
Bawaal%20
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BLACK%20ADAM
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What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
Greatest Royal Rumble results
John Cena pinned Triple H in a singles match
Cedric Alexander retained the WWE Cruiserweight title against Kalisto
Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus
Jeff Hardy retained the United States title against Jinder Mahal
Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos
Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe
AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out
The Undertaker beats Rusev in a casket match
Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match
Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last
'Nope'
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THE%20SPECS
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Specs
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Sholto Byrnes on Myanmar politics
The%20specs
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RECORD%20BREAKER
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What is Genes in Space?
Genes in Space is an annual competition first launched by the UAE Space Agency, The National and Boeing in 2015.
It challenges school pupils to design experiments to be conducted in space and it aims to encourage future talent for the UAE’s fledgling space industry. It is the first of its kind in the UAE and, as well as encouraging talent, it also aims to raise interest and awareness among the general population about space exploration.
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RESULTS
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My Country: A Syrian Memoir
Kassem Eid, Bloomsbury
Biography
Her family: She has four sons, aged 29, 27, 25 and 24 and is a grandmother-of-nine
Favourite book: Flashes of Thought by Sheikh Mohammed bin Rashid
Favourite drink: Water
Her hobbies: Reading and volunteer work
Favourite music: Classical music
Her motto: I don't wait, I initiate
Kandahar%20
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Call of Duty: Black Ops 6
Developer: Treyarch, Raven Software
Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
More on Quran memorisation:
COMPANY%20PROFILE
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Company%20profile
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Spider-Man%202
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The specs: 2018 Jeep Compass
Price, base: Dh100,000 (estimate)
Engine: 2.4L four-cylinder
Transmission: Nine-speed automatic
Power: 184bhp at 6,400rpm
Torque: 237Nm at 3,900rpm
Fuel economy, combined: 9.4L / 100km