Rogue One will cover territory that is very familiar to Star Wars fans. Jonathan Olley / Lucasfilm / AP
Rogue One will cover territory that is very familiar to Star Wars fans. Jonathan Olley / Lucasfilm / AP

With hit films, the surprise is that there’s no surprise



If the plot of the latest blockbuster seems more than a little familiar, that’s not a coincidence

‘Everything has been thought of before,” wrote the German poet and author Goethe. “But the difficulty is to think of it again.”

Goethe clearly wasn’t thinking about Hollywood when he wrote those words. We in the entertainment industry have no trouble at all thinking of things again. And again and again, if there’s money to be made. And maybe a few more times, just to make sure the money well is dry.

When the promotional trailer for the newest instalment of the Star Wars series of films Rogue One: A Star Wars Story hit the internet, the story was remarkably familiar. A motley band of rebels sets about trying to destroy a powerful and terrifying planet-sized weapon, much like the original Star Wars film in which a motley band of rebels sets about trying to destroy a powerful and terrifying planet-sized weapon, and not so dissimilar to last year's blockbuster Star Wars film, Star Wars: The Force Awakens, in which a motley band of (yes, you've got it) rebels sets about trying to destroy a powerful and terrifying – brace yourself – planet-sized weapon.

I’m guessing that they succeed, though don’t hold me to that.

This isn't really a criticism, of course. Ever since last year, when director and producer JJ Abrams took the reins of the Star Wars universe, fans have been eagerly anticipating his creative and engaging surprises. But he's hemmed in by the limit­ations and the expectations of the Star Wars storylines, which centre mostly around light sabres, The Force, and planet-sized weapons. As Goethe might have observed, there's only so much you can do with Star Wars.

That said, the constellation of Star Wars characters and ­myth­ologies are a richly complex tapestry compared to, say, the world of Baywatch.

Baywatch, as many of you will recall – and if you're too young to remember that worldwide smash-hit of a television show, ask someone older that 35 to explain it – told the two-dimensional story of a collection of two-dimensional characters who served as lifeguards along the beaches of Southern California. Mostly the show was an excuse to show scantily-clad, though contextually appropriate, female lifeguards looking purposefully out along the surf­line of Santa Monica Bay. The show's appeal ignited an international passion for surfing, bright red bathing suits, and the actress and model Pamela Anderson.

It was also responsible for the baffling popularity of its male star, David Hasselhoff, in Germany, and even more baffling, his second career as a pop singer.

The show has been out of production for over a decade, but as Goethe reminds us, the trick is to think of it again.

Baywatch is about to become a movie. Sometime in May next year, the feature film version of the television show will arrive in cinemas, just in time for America's beach season. The picture will star Dwayne "The Rock" Johnson in roughly the Hasselhoff role, along with Zac Efron, Indian superstar Priyanka Chopra, and appearing in cameo roles, Hasselhoff and Pamela Anderson in their former red-suited glory.

The one-sentence summary of the film's story – what we insiders call the "logline" – suggests that the film will keep the two-dimensional and by-the-numbers traditions of Baywatch alive. Basically, it's this: "Lifeguard Mitch Buchannon (Dwayne Johnson) and a brash new recruit (Zac Efron) uncover a criminal plot that threatens the future of the bay."

If you close your eyes for a moment, you can probably play the entire movie for yourself, moment by moment. Mitch and the brash recruit will clash. Efron’s character will be called a “cowboy” and a “maverick”. He’ll be accused of taking needless risks. Mitch will worry that he’s become out of touch and old. There will be a romantic triangle. Mitch and Efron’s character will end up saving someone – probably a child – from watery peril by (spoiler alert) learning to work together. In between these moments will be attractive young people dressed for the beach.

It's tempting, naturally, to sneer and cavil at these kinds of movies – not just Baywatch but 21 Jump Street before it, and the endless forthcoming versions of Star Wars personnel blowing up death stars – but there's something reassuring, to audiences as well as media company shareholders, about the same-old same-old, especially now that the real world seems to be more alarmingly unpredictable every day.

But that’s always been what Hollywood has excelled at: delivering familiar experiences with satisfying (read: expected) outcomes, with mild variations in between. Love stories resolve themselves happily. Disasters are averted. The brash recruit and the older veteran clash, but come to respect each other. And the death star gets exploded, eventually, by the unlikely ­heroes.

There are more than enough nasty surprises in store in our daily lives, and all too many unexpected plot twists and turns. Goethe, fortunately for him, didn’t have to come up with an explanation for 2016.

Rob Long is a writer and producer in Los Angeles

On Twitter: @rcbl

THE 12 BREAKAWAY CLUBS

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

Three trading apps to try

Sharad Nair recommends three investment apps for UAE residents:

  • For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
  • If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
  • Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
A MAN FROM MOTIHARI

Author: Abdullah Khan
Publisher: Penguin Random House
Pages: 304
Available: Now

Ramy: Season 3, Episode 1

Creators: Ari Katcher, Ryan Welch, Ramy Youssef
Stars: Ramy Youssef, Amr Waked, Mohammed Amer
Rating: 4/5

Company Profile

Company name: myZoi
Started: 2021
Founders: Syed Ali, Christian Buchholz, Shanawaz Rouf, Arsalan Siddiqui, Nabid Hassan
Based: UAE
Number of staff: 37
Investment: Initial undisclosed funding from SC Ventures; second round of funding totalling $14 million from a consortium of SBI, a Japanese VC firm, and SC Venture

Wallabies

Updated team: 15-Israel Folau, 14-Dane Haylett-Petty, 13-Reece Hodge, 12-Matt Toomua, 11-Marika Koroibete, 10-Kurtley Beale, 9-Will Genia, 8-Pete Samu, 7-Michael Hooper (captain), 6-Lukhan Tui, 5-Adam Coleman, 4-Rory Arnold, 3-Allan Alaalatoa, 2-Tatafu Polota-Nau, 1-Scott Sio.

Replacements: 16-Folau Faingaa, 17-Tom Robertson, 18-Taniela Tupou, 19-Izack Rodda, 20-Ned Hanigan, 21-Joe Powell, 22-Bernard Foley, 23-Jack Maddocks.

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.”

Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside