Hollywood chairman to give UAE film-makers directions



ABU DHABI // Aspiring Emirati film-makers are to be given advice from a Hollywood high-flyer. Students on the Adasa programme, a year-round mentorship for up to 10 local screenwriters, are to attend a lecture in Abu Dhabi given by Jim Gianopoulos, the chairman of 20th Century Fox. The lecture, on Oct 6, will form part of The Circle Conference 2008, an annual event which highlights and encourages film-making talent in the UAE.

The two-day conference at the Shangri La Hotel, Abu Dhabi, will focus on the state of the Arab film-making and its financing and global distribution. The Circle is part of the Abu Dhabi Authority for Culture and Heritage (Adach). Adrienne Briggs, director of The Circle, said: "[Mr] Gianopoulos will be looking at the global film industry and its relevance to Middle Eastern film-makers and financiers. I am sure that his participation will add great value to the overall goals of the event, not least because he has an encouraging history of supporting emerging film-makers."

There will also be evening events including a charity dinner attended by VIPs, added Ms Briggs. Adasa, meaning lens, is among a number of initiatives by The Circle. The Adasa students travel to Los Angeles to see the process of film production and to visit film sets and talk to directors and producers. Its other programmes include the Cloewin Connection, which brings prominent directors from the Middle East together on projects and the Sasha grant, a screenwriting competition with a prize of US$100,000 (Dh367,000) which will be awarded at The Circle conference.

Following the conference, The Circle will host an Interactive Media Exhibition that will feature games and technical demonstrations of new media. The exhibition will take place in the capital's Marina Mall from Oct 9-11, and will be open to the public who will be able to participate in the interactive demonstrations. More information on the subject can be found at The Circle's website, www.thecircle.ae.

@Email:aseaman@thenational.ae

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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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Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

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Scorecard:

England 458 & 119/1 (51.0 ov)

South Africa 361

England lead by 216 runs with 9 wickets remaining

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England 2 (Lingard 78', Kane 85')
Croatia 1 (Kramaric 57')

Man of the match: Harry Kane (England)

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Ms Davison came to Dubai from Kerala after her marriage in 1996 when she was 21-years-old

Since 2001, Ms Davison has worked at many affordable schools such as Our Own English High School in Sharjah, and The Apple International School and Amled School in Dubai

Favourite Book: The Alchemist

Favourite quote: Failing to prepare is preparing to fail

Favourite place to Travel to: Vienna

Favourite cuisine: Italian food

Favourite Movie : Scent of a Woman

 

 

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Goalkeepers: Dean Henderson (Man Utd), Sam Johnstone (West Brom), Jordan Pickford (Everton)

Defenders: John Stones (Man City), Luke Shaw (Man Utd), Harry Maguire (Man Utd), Trent Alexander-Arnold (Liverpool), Kyle Walker (Man City), Tyrone Mings (Aston Villa), Reece James (Chelsea), Conor Coady (Wolves), Ben Chilwell (Chelsea), Kieran Trippier (Atletico Madrid)

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Name: ARDH Collective
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Leap of Faith

Michael J Mazarr

Public Affairs

Dh67
 

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