A visitor browses books at the Sharjah International Book / Satish Kumar
A visitor browses books at the Sharjah International Book / Satish Kumar
A visitor browses books at the Sharjah International Book / Satish Kumar
A visitor browses books at the Sharjah International Book / Satish Kumar

Sharjah International Book Fair: nearly 40 years on, the objective remains to foster a love of reading


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As a student, I attended the very first Sharjah International Book Fair in 1982. I remember walking between the tents with two or three purchases in hand, which made me feel invincible. Nearly four decades on, I will be back at the event and wandering the aisles this week, only now it is in my role as chairman of the organisers, Sharjah Book Authority.

It would be safe to say that the first edition of the fair set the precedent and crystallised its very nature. The objective was, is and always will be, to continue to foster a love of reading and a passion for exchange.

Events in the publishing world were created to generate enthusiasm for reading. In attaining this goal, the book fair holds a special significance and always will. Today the UAE holds three major book fairs and is pushing the region forward in terms of reading.

SIBF began with a handful of publishers. Not many people know that in the first edition of the fair, Sheikh Sultan Al Qasimi bought all the books. He had a vision of opening people’s minds by giving them access to more books.

These intentions were enough to lay the foundations for arguably the region's most memorable literary event – and certainly the longest-standing. Looking back on our humble beginnings, it seems like a dream recounting the book fair's 37-year journey and achievements, which make it the third largest event of its kind in the world with more than 1.5 million visitors and sales of more than $50 million.

If this annual book fair is any guide to the eagerness of people in the UAE to read and take part in social events, it would be safe to say that culture is growing more vibrant every year. We host millions of visitors annually, who walk through the gates to meet their favourite authors, browse millions of titles covering nearly 200 languages and buy the books they have selected.

SIBF is a great mirror for trends in reading. For some years, there has been a swing towards fiction; during others, there has been a massive uptake of books on educational and life skills. I remember people coming to look for new editions of old books they had read years ago. People get attached to the first books they read and for specific styles of writing but a love of classic novels has been constant and unshakeable through the years.

Year after year, books are being sold at a faster pace, the number of readers is increasing locally and regionally, and the book fair has become an epicentre of reading and cultural appreciation. Of course, many other cultural events and concerted efforts by various entities across the emirate have also done a lot to encourage readers, writers and artists in the UAE and the region. They have been pivotal to the growing popularity of books and reading in the country.

Undoubtedly, SIBF is a premier marketplace for the publishing industry in the Middle East and North Africa, a vital event for negotiating the sales of rights and licensing and part of our efforts to become a major global destination of the publishing world. Commercial aspirations are, however, only a small slice of the pie.

That is because our vision and purpose for this annual cultural feast has been defined by the Ruler of Sharjah, a scholar, author and an avid reader, who wants to see future generations grow up with a similar passion for books and culture. His keenness to create a strong reading community and promote its benefits, especially among children, are the driving force behind the unique nature of the fair.

I joined the Sharjah Book Authority after spending years at the Department of Culture and Information in Sharjah. I found myself immersed in a wonderful and progressive literary universe the minute I assumed responsibility as chairman. I am a true believer in the saying that “your job shapes our identity”, in one way or another.

Mine has helped me discover my true self. The world of literature is such an emotive one that one cannot see it as purely business.

I am proud to contribute to both the emirate and the nation's collective passion to make books and reading available to all and to build a knowledge-based society and economy through the free exchange of ideas and interests, as well as strengthening the publishing landscape in the UAE through SIBF. The book fair has done a great deal to shed a spotlight on local publishers and emerging authors, not only through SIBF's literary awards but by offering them specialised training and know-how. Most importantly, the book fair is now a place where the industry converges together and there are ample opportunities to network with each other.

These efforts are all heading in the right direction as we experience a year-on-year increase in the participation of local authors, self-published writers and independent publishers, who benefit greatly from the increased visibility for their existing and upcoming projects, as well as a rise in book sales.

In the past few years, the publishing industry worldwide has been through many transitions, thanks to the rise of digital books and e-readers. Book fairs not only in Sharjah and the UAE but around the world have anchored the industry through these times, pushing it forward and creating new markets for readers.

We are hugely excited to have the book fair return for another year. As we open the gates to our 37th annual fair, we eagerly anticipate hundreds of thousands pouring in from schools, universities, places of work and communities across the seven emirates of the UAE, as well as from neighbouring countries, to once again come together and savour this memorable cultural feast. We are celebrating Japan in a big way this year; the culturally rich nation is bringing a rich programme of events to the book fair and will be celebrated as our guest of honour.

Books remain the DNA of our civilisation and the exchange of ideas, by its very nature, is a communal activity. For lovers of the written word, the book fair is, and always will be, full of allure. That makes SIBF an unmissable cultural attraction.

Ahmed Al Ameri is the chairman of Sharjah Book Authority, which runs the Sharjah International Book Fair

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.”

PRO BASH

Thursday’s fixtures

6pm: Hyderabad Nawabs v Pakhtoon Warriors

10pm: Lahore Sikandars v Pakhtoon Blasters

Teams

Chennai Knights, Lahore Sikandars, Pakhtoon Blasters, Abu Dhabi Stars, Abu Dhabi Dragons, Pakhtoon Warriors and Hyderabad Nawabs.

Squad rules

All teams consist of 15-player squads that include those contracted in the diamond (3), platinum (2) and gold (2) categories, plus eight free to sign team members.

Tournament rules

The matches are of 25 over-a-side with an 8-over power play in which only two fielders allowed outside the 30-yard circle. Teams play in a single round robin league followed by the semi-finals and final. The league toppers will feature in the semi-final eliminator.

Gulf Under 19s final

Dubai College A 50-12 Dubai College B

The specs: Volvo XC40

Price: base / as tested: Dh185,000

Engine: 2.0-litre, turbocharged in-line four-cylinder

Gearbox: Eight-speed automatic

Power: 250hp @ 5,500rpm

Torque: 350Nm @ 1,500rpm

Fuel economy, combined: 10.4L / 100km

The biog

Age: 59

From: Giza Governorate, Egypt

Family: A daughter, two sons and wife

Favourite tree: Ghaf

Runner up favourite tree: Frankincense 

Favourite place on Sir Bani Yas Island: “I love all of Sir Bani Yas. Every spot of Sir Bani Yas, I love it.”