ABU DHABI // Kings of Leon, the US rock band, will play at Yas Island on October 31 after the qualifying sessions for the inaugural Abu Dhabi Grand Prix, it was announced yesterday.
With another alternative US band, The Killers, due to play in the capital on December 8, fans yesterday praised what they saw as the emergence of less mainstream and more left-field rock acts on to the UAE events calendar.
There was still some surprise, however, that Kings of Leon, who have never previously played in the region, were coming to Abu Dhabi.
"My brother saw them a few years ago in Chicago and said they were the best band he'd ever seen," said Caryl Cook, 31, a Canadian IT specialist living in the capital.
"I wouldn't have expected them to play here - usually you can't look past the pop stars like Christina Aguilera, who was very good, but just the usual standard name.
Geoff Arundel, 27, a transport consultant from Lincolnshire in the UK, said he had already bought tickets for the Grand Prix for himself and three family members and was now looking forward to the post-qualifying concert.
"I'm pleased I bought my [F1] ticket already, because for sure you're going to see so many more people coming forward to try and get a piece of the action because of these concerts.
"Kings of Leon is a totally different name for here. It shows they want to get themselves known for bringing over different names, having some variety. It doesn't mean a revolution, but you've got to hope for someone else to come that makes you sit back and take notice."
Confirmation of the gig completes the line-up of major acts taking part in the Yasalam series of events programmed for the Formula One weekend. The American pop diva Beyoncé, the acid jazz outfit Jamiroquai and the US rock band Aerosmith will also play on Yas Island.
Beyoncé's concert is on Thursday, October 29, Jamiroquai's the following night after the practice sessions, Kings of Leon's on the Saturday and Aerosmith's on race day.
Only people who have bought tickets for the Grand Prix will be admitted to the concerts.
Those with two-day tickets - for Saturday and Sunday - will be able to attend only the events on those days, but three-day tickets will be good for all four.
Two-day tickets cost between Dh1,500 (US$410) and Dh2,000, with three-day passes between Dh1,600 and Dh2,500.
A number of shoppers interviewed in Abu Dhabi Mall yesterday said they were disappointed they would not be able to buy tickets just for the concerts.
Johann Scharr, 17, a Swiss national staying with his sister in the capital, said: "This is too expensive for only one concert. Kings of Leon is a very exciting band."
Kings of Leon, who are behind such hits as Molly's Chambers, Use Somebody and Sex on Fire, have yet to score a number one single in the US mainstream charts, despite the most recent of their four albums, Only by the Night, reaching platinum in the US and five times platinum in the UK. Sex on Fire, their biggest hit so far, won a Grammy award this year.
The band, originally from Tennessee and comprising the brothers Caleb, Nathan and Jared Followill and their cousin Matthew Followill, first emerged on the music scene in 2003 with the release of their album Youth and Young Manhood, though early on they were more successful in the UK than in their native country.
John Lickrish, managing director of Flash Entertainment, which is organising the concerts, said Kings of Leon had been on his radar for at least six months. "I think, with bands like The Killers and Kings of Leon and a few others we have got coming up, we are trying to diversify."
Flash had initially preferred to sign "heavy hitters, the sure things" such as Justin Timberlake, he said, adding that he now wanted to "explore different bands and offer more variety".
Details of a New Year's Eve concert with "a few international hip-hop guys and DJs" and a smaller music festival on the Corniche are expected to be confirmed by Flash in the coming weeks, Mr Lickrish said.
rhughes@thenational.ae
A Cat, A Man, and Two Women
Junichiro Tamizaki
Translated by Paul McCarthy
Daunt Books
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
THE SPECS
Touareg Highline
Engine: 3.0-litre, V6
Transmission: 8-speed automatic
Power: 340hp
Torque: 450Nm
Price: Dh239,312
RACE CARD
5pm: Handicap (PA) Dh70,000 1,400m
5.30pm: Handicap (TB) Dh70,000 1,000m
6pm: Maiden (PA) Dh70,000 2,000m
6.30pm: Handicap (PA) Dh70,000 2,000m
7pm: Maiden (PA) Dh70,000 1,600m
7.30pm: Al Ain Mile Group 3 (PA) Dh350,000 1,600m
8pm: Handicap (PA) Dh70,000 1,600m
Amith's selections:
5pm: AF Sail
5.30pm: Dahawi
6pm: Taajer
6.30pm: Pharitz Oubai
7pm: Winked
7.30pm: Shahm
8pm: Raniah
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.”
What is Reform?
Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.
It was founded in 2018 and originally called the Brexit Party.
Many of its members previously belonged to UKIP or the mainstream Conservatives.
After Brexit took place, the party focused on the reformation of British democracy.
Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.
The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.
Final scores
18 under: Tyrrell Hatton (ENG)
- 14: Jason Scrivener (AUS)
-13: Rory McIlroy (NIR)
-12: Rafa Cabrera Bello (ESP)
-11: David Lipsky (USA), Marc Warren (SCO)
-10: Tommy Fleetwood (ENG), Chris Paisley (ENG), Matt Wallace (ENG), Fabrizio Zanotti (PAR)
