The Sharjah International Book Fair. is an annual reminder of our interest in reading. Antonie Robertson / The National
The Sharjah International Book Fair. is an annual reminder of our interest in reading. Antonie Robertson / The National
The Sharjah International Book Fair. is an annual reminder of our interest in reading. Antonie Robertson / The National
The Sharjah International Book Fair. is an annual reminder of our interest in reading. Antonie Robertson / The National

Are you prepared to take our reading challenge?


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It’s the year of reading. Given that I’m a literature professor by training, I think celebrating reading all year long is a great idea. But at the same time, isn’t there something a little depressing about the need to have such a celebration?

These celebrations usually celebrate the uncelebrated. Has there ever been a year of Call of Duty? Or an international year of Facebook? Is there an international day of texting, or a year in which we celebrate Snapchat? Many countries have a secretary's day, for instance, but nowhere is there a CEO day.

We have to celebrate reading because, apparently, no one reads any more. The business pages regularly sound the death knell of print publishing, and in book stores in Abu Dhabi and elsewhere, books ring the periphery or cluster at the back, behind Lego, games and sparkly pens. Only Thrift Bookstore, tucked away on Hamdan Street, offers the joy of an overstuffed bookstore, cluttered with hidden treasures and obscure titles.

And yet we all seem to be reading all the time – but in ever shorter snippets, about the length of a traffic light. We idle at the red light, scrolling through status updates, texts and tweets, snapchats, headline news. Maybe that’s why it’s so hard to get through an intersection in Abu Dhabi: we’re all on our devices, reading.

But of course, that’s not the sort of reading that the year of reading wants to encourage. It’s decoding words, sure, but it’s not the fully immersive experience that happens when a book merges its world with yours. Whether you’re a reader of fiction or non-fiction, whether you like detective stories, romances or biographies, a good book transports you, sometimes to worlds not your own, and sometimes back into yourself, enabling you to see yourself more clearly.

This immersive experience, I’ve learnt, doesn’t just happen. It has to be learnt; we have to move beyond decoding or tracking the plot. We can’t expect to be transported by bullet points in a textbook. It’s like the difference between speeding down the runway and lifting into the sky; the muscles of imagination that lift us into the sky need to be trained, like anything else.

When I was little, I had a book called Look Out For Pirates!, which I demanded that my mother read to me every night. The escapades of those daring pirates whisked me out of my landlocked Midwestern childhood and into a thrilling world of adventure – or as thrilling as one-syllable words and short sentences can be. The first time I read the book to myself (essentially having memorised it), I became a pirate, swashbuckling and brave (it was a children’s book: these were nice pirates, not bad guys).

Do you remember learning to read? Laboriously sounding out the words, trying to fit them together in uneasy puzzles? Do you remember the day the words snapped into focus and the book’s pictures started to play on the screen of your mind? That’s the imaginative act we need to learn: how to let those images become our own, different from the crafted images from a movie studio or TV show. The more we read, the stronger that imaginative muscle becomes.

My students sometimes ask me why they should bother to read outside of class, and because books have been a part of my life from even before those pirates of my childhood, I never know how to answer that question. A few years ago, though, an Egyptian student gave me a great answer: he said that he’d been told by his father to read only textbooks in high school because fiction was a waste of time. Then before coming to university, he read The Reluctant Fundamentalist and, he said: “The whole world was in there. I learnt so much, even the parts I didn’t like.”

You may not have read (or liked) The Reluctant Fundamentalist, but the amazing thing about books is that they all hold other worlds inside. Take the challenge of this year of reading to explore those worlds – and yourself. Who knows: if we all keep reading, maybe we won’t need another year of celebration.

Deborah Lindsay Williams is professor of literature at NYU Abu Dhabi

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.”

Zidane's managerial achievements

La Liga: 2016/17
Spanish Super Cup: 2017
Uefa Champions League: 2015/16, 2016/17, 2017/18
Uefa Super Cup: 2016, 2017
Fifa Club World Cup: 2016, 2017

MATCH INFO

Alaves 1 (Perez 65' pen)

Real Madrid 2 (Ramos 52', Carvajal 69')

Summer special
MATCH INFO

Championship play-offs, second legs:

Aston Villa 0
Middlesbrough 0

(Aston Villa advance 1-0 on aggregate)

Fulham 2
Sessegnon (47'), Odoi (66')

Derby County 0

(Fulham advance 2-1 on aggregate)

Final

Saturday, May 26, Wembley. Kick off 8pm (UAE) 

APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

What is tokenisation?

Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets. 

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
What is an FTO Designation?

FTO designations impose immigration restrictions on members of the organisation simply by virtue of their membership and triggers a criminal prohibition on knowingly providing material support or resources to the designated organisation as well as asset freezes. 

It is a crime for a person in the United States or subject to the jurisdiction of the United States to knowingly provide “material support or resources” to or receive military-type training from or on behalf of a designated FTO.

Representatives and members of a designated FTO, if they are aliens, are inadmissible to and, in certain circumstances removable from, the United States.

Except as authorised by the Secretary of the Treasury, any US financial institution that becomes aware that it has possession of or control over funds in which an FTO or its agent has an interest must retain possession of or control over the funds and report the funds to the Treasury Department.

Source: US Department of State

UAE Falcons

Carly Lewis (captain), Emily Fensome, Kelly Loy, Isabel Affley, Jessica Cronin, Jemma Eley, Jenna Guy, Kate Lewis, Megan Polley, Charlie Preston, Becki Quigley and Sophie Siffre. Deb Jones and Lucia Sdao – coach and assistant coach.

 
CHELSEA SQUAD

Arrizabalaga, Bettinelli, Rudiger, Christensen, Silva, Chalobah, Sarr, Azpilicueta, James, Kenedy, Alonso, Jorginho, Kante, Kovacic, Saul, Barkley, Ziyech, Pulisic, Mount, Hudson-Odoi, Werner, Havertz, Lukaku. 

2.0

Director: S Shankar

Producer: Lyca Productions; presented by Dharma Films

Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey

Rating: 3.5/5 stars

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