Monthly Datebook
January 21-24: The Abu Dhabi Golf Championship
Some of the world's top golfers, including England's Paul Casey and and Spain's Sergio Garcia, will fight it out on the fairways and greens in front of expected record crowds for prize money of US$2.2 million (Dh8 million). It is the strongest field so far in the tournament's five-year history with many of the world's top 20-ranked golfers teeing off. There will be plenty of action off the course as well, with events along the Corniche where the F1 fanzone was located. At the Standard Chartered Golf Zone, free 10-minute golf lessons will be offered for a week from January 12, before the golf zone moves to the Spectator Village overlooking the fairway.
Tickets, Dh125; Dh400 for a four-day pass. Call 04 210 8567 or see www.abudhabigolfchampionship.com, www.itptickets.com, www.timeouttickets.com (call 800 4669). Abu Dhabi Golf Club, Sas Al Nakhl (off the Abu Dhabi-Dubai road).
JANUARY 14 & 15: Abu Dhabi Classics
London's Philharmonia orchestra returns to the capital for a weekend of performances. Thursday night is Beethoven's Fifth Symphony and Mozart's Piano Concerto No.9, and on Friday the orchestra will be joined by the voices of Abu Dhabi children to perform a selection of pieces from classic Disney films. A giant screen behind the orchestra will also show a selection of Disney animations, narrated by Paul Rissmann.
Emirates Palace auditorium. Call 800 4669 for ticket prices and availability.
JANUARY 14: JON LOVITZ
For one night only, the American comedy legend and former Saturday Night Live star, brings his stage act to Dubai. Doors open at 7.30pm; the show starts at 9pm.
Dh250, Madinat Theatre, Jumeirah Beach Road, 04 366 6546
JANUARY 21 to 23: Merchants of Bollywood
Featuring 40 dancers, 1,500 dazzling costumes and typically high-octane energy, this acclaimed Bollywood musical charts the history of the world's largest and most prolific film industry and has been a hit all over the world.
Tickets from Dh150. 8pm, Palladium, Dubai, 04 391 4994
JANUARY 22: The Dubai marathon
Running legend Haile Gebrselassie returns to the UAE to defend his title, targeting a new world record and a million-dollar prize. The event starts and finishes at the Westin hotel.
For route details see www.dubaimarathon.org
JANUARY 23: Anne-Sophie Mutter
The celebrated German violinist presents The Magic Of The Violin and is joined by cellist Daniel Müller-Schott and pianist Lambert Orkis to perform works by Mozart and Mendelssohn.
Tickets from Dh250. 8pm, Emirates Palace, Abu Dhabi, 800 4669
JANUARY 25: The Emirates Ensemble
Featuring the UAE's leading classical musicians, this recital will focus on selections of string works by Mozart, Bach and Dvorak.
Doors at 7.30pm. Dh50. Call 04 347 7793 or e-mail enquiries@thefridgedubai.com. The Fridge, Al Quoz 4, street 26, Dubai, 04 347 7793
JANUARY 25: Joaquin Cortés
The world's most famous flamenco dancer, known for his intense, high-energy routines, performs his acclaimed Live! show, a fusion of jazz, Cuban and Spanish dance styles performed with a live orchestra. Part of Adach's World Stage season.
8pm, Emirates Palace. Call 800 4669 for ticket prices and availability.
JANUARY 28: Dubai Shopping Festival
A month of sales, bargains and special events begins at shops and malls across Dubai. Runs until February 28. Call 600 54 5555 or see www.mydsf.com for details.
iFitness
This great iPhone/iPod Touch app - an illustrated step-by-step workout guide - is like having your own cheap and unintimidating personal trainer. It features about 100 exercises for all core muscle groups, using free weights, machines, exercise balls or no equipment at all, plus suggested routines to keep things varied and optimise your gym time. Tap on the exercise or routine you want (choose according to muscle group or machine) and get clearly worded instructions, with videos or photos on individual exercises or routines for beginners, weight loss, strength-building and more. The app is regularly updated with more exercises and features, including one that allows you to customise your routines, track your body weight or progress, and though the model in all the photos is a man, all exercises are suitable for women.
US$1.99 (Dh7), iTunes
Where to find the items featured in M this week.
M IS ALL ABOUT
Aldo: Marina Mall, Abu Dhabi, 02 681 4426; Dubai Mall, 04 339 8441
Valleydez: Wafi Mall, 04 324 2883
Zara Home: Marina Mall, Abu Dhabi, 02 681 5560; Dubai Mall, 04 339 9105 and elsewhere
PUNK ROCKS
Alexander McQueen: Dubai Mall, 04 339 8760
Alexander Wang: Harvey Nichols, Mall of the Emirates, Dubai, 04 409 8888
Amato Couture: Al Hana Centre, Dubai, 04 398 8586
Balu Joias: LuxeCouture, Souk Madinat, Dubai, 04 423 0633
Chanel: Marina Mall, Abu Dhabi, 02 681 1030; Dubai Mall, 04 382 7100 and elsewhere
Dior Homme: Dubai Mall, 04 330 8739
Gucci: Marina Mall, Abu Dhabi, 02 681 6844; Mall of the Emirates, Dubai, 04 341 0669 and elsewhere
Helmut Lang: Harvey Nichols, 04 409 8888
Giuseppe Zanotti: Harvey Nichols, 04 409 8888
Julien MacDonald: Check www.julienmacdonald for availability
Nanni: Harvey Nichols, 04 409 8888
LnA: Harvey Nichols, 04 409 8888
Sartori Sartori: Check www.sartorisartori.com for availability
Stella McCartney: Dubai Mall, 04 339 9179
Tach: Check www.tachltd.com for availability
Topman: Deira City Centre, Dubai, 04 295 1804; Ibn Battuta Mall, Dubai, 04 368 5948
Topshop: Marina Mall, Abu Dhabi, 02 681 8242; Dubai Mall, 04 339 9802 and elsewhere
Versace: Emirates Palace hotel, Abu Dhabi,
02 690 8911; Dubai Mall, 04 339 8285 and elsewhere
Vanessa Bruno: Harvey Nichols, 04 409 8888
Vita: Harvey Nichols, 04 409 8888
TREND ALERT
Boom and Mellow: Mall of the Emirates, Dubai, 04 341 3993
Louis Vuitton: Marina Mall, Abu Dhabi, 02 681 2166; Dubai Mall, 04 341 4462; Mall of the Emirates, Dubai, 04 341 4462
Zayed Sustainability Prize
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
RESULTS
2pm: Maiden Dh 60,000 (Dirt) 1,400m. Winner: Masaali, Pat Dobbs (jockey), Doug Watson (trainer).
2.30pm: Handicap Dh 76,000 (D) 1,400m. Winner: Almoreb, Dane O’Neill, Ali Rashid Al Raihe.
3pm: Handicap Dh 64,000 (D) 1,200m. Winner: Imprison, Fabrice Veron, Rashed Bouresly.
3.30pm: Shadwell Farm Conditions Dh 100,000 (D) 1,000m. Winner: Raahy, Adrie de Vries, Jaber Ramadhan.
4pm: Maiden Dh 60,000 (D) 1,000m. Winner: Cross The Ocean, Richard Mullen, Satish Seemar.
4.30pm: Handicap 64,000 (D) 1,950m. Winner: Sa’Ada, Fernando Jara, Ahmad bin Harmash.
UAE currency: the story behind the money in your pockets
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
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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: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
● Based: Dubai, UAE
● Industry: M&A
● Funding size: Bootstrapped
● No of employees: Nine
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
MEDIEVIL%20(1998)
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The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5