Nervecell from left: Barney Ribeiro, James Khazzal, and Rami Mustafa.
Nervecell from left: Barney Ribeiro, James Khazzal, and Rami Mustafa.
Nervecell from left: Barney Ribeiro, James Khazzal, and Rami Mustafa.
Nervecell from left: Barney Ribeiro, James Khazzal, and Rami Mustafa.

Dubai metal band clinch record deal


  • English
  • Arabic

After nine years of dreaming, the ambitions of a Dubai-based heavy metal band have been realised. The four-piece Nervecell have been signed by Lifeforce Records, a German label, and are hopeful that the deal will lead to worldwide success. "This is big news for us," said Barney Ribeiro, the 26-year-old founding member and guitarist.

"The label will be responsible for presenting our band to the masses. They give you a lot of presence and the industry is no longer just about CD sales. "It's important to be signed, the promoters take you more seriously and you become accepted as a professional band." Stefan Luedicke, the chief executive of Lifeforce Records, said: "It was an easy decision for us to say that we need to work with Nervecell.

"We hardly ever meet a band with such a strong work ethic and with the highly professional team of people working for the band it will be a great pleasure for us to get the name Nervecell out to the world." Nervecell formed as a five-piece at American University of Dubai, and first played in competitions and small shows in student unions. Since their formation, there have been arrivals and departures, and the band now consists of Ribeiro, who is Indian but was born and raised in the Emirates, with Rami Mustafa, their Jordanian guitarist, James Khazzal, their Lebanese singer and bass guitarist, and Louis Rando, their Australian drummer, completing the line-up. Sadly for local fans, if their signing to Lifeforce brings more success for the band abroad than in the UAE, they may decide to relocate.

"If it's necessary, then why not? We have given it our all here in the Middle East," said Ribeiro. The heavy metal scene has exploded in the Middle East in recent years, partly because of the Dubai Desert Rock festival, now in its sixth year. "The desert rock festival is the reason heavy metal exists today in the Middle East," said Ribeiro. "Before that event came, heavy metal CDs weren't even available in the shops. After that festival, we had more exposure and then toured more overseas."

asafdar@thenational.ae

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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How it works

A $10 hand-powered LED light and battery bank

Device is operated by hand cranking it at any time during the day or night 

The charge is stored inside a battery

The ratio is that for every minute you crank, it provides 10 minutes light on the brightest mode

A full hand wound charge is of 16.5minutes 

This gives 1.1 hours of light on high mode or 2.5 hours of light on low mode

When more light is needed, it can be recharged by winding again

The larger version costs between $18-20 and generates more than 15 hours of light with a 45-minute charge

No limit on how many times you can charge

 

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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.”

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