A series of rarely seen items from the singer's personal life are also available - including a signed American Express card.
A series of rarely seen items from the singer's personal life are also available - including a signed American Express card.

Madonna's wardrobe goes on sale in UAE



DUBAI// Photographs, jewellery and film props will be among dozens of items of Madonna memorabilia worth Dh9 million on sale during an exhibition devoted to the pop superstar.

More than 60 items, including the Marilyn Monroe-inspired pink dress worn in the Material Girl music video and outfits from her portrayal of Eva Perón in the movie Evita, are on offer.

The event is part of BurJuman's Simply Madonna two-week exhibition that begins this Thursday.

"The sale of Madonna memorabilia is an opportunity for fans to own a piece of the life of a true legend," said Sabina Khandwani, the head of PR and Marketing at BurJuman.

"This is an opportunity that has never been offered to the public in the region before and the people of the UAE have the rare chance to get first dibs on some of the most iconic pieces of pop culture in existence."

Organisers are expecting huge interest from diehard Madonna fans and collectors from around the world.

"When it comes to the price, they can be pretty sure this is an investment that is only going to appreciate in value," said Ms Khandwani.

The collection has been carefully built up and curated over the last six years by a memorabilia investment firm, Marquee Capital, and spans the star's quarter-century career.

Other items on sale include jewellery, tour costumes and the singer's awards.

A series of rarely seen items from the singer's personal life are also available - including a signed American Express card, the cancellation of a post-marital agreement with her first husband, Sean Penn, a hand-written Valentine's Day letter and a school yearbook.

There are also film contracts and a daily planner that offers a glimpse into the star's personal life.

The Simply Madonna Exhibition will take place at BurJuman South Village Area, BurJuman Observatory Area (opposite the Virgin store), between 10am and 10pm from May 24 to June 6.

People interested in buying can do so from 9am to 4pm, from May 27 to May 31. More details about the sales procedure will be available from information counter three, near the exhibition venue.

Visitors will also get the chance to win Golden Circle concert tickets for Madonna's shows on June 3 and 4 in Abu Dhabi.

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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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.”

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

Padmaavat

Director: Sanjay Leela Bhansali

Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh

3.5/5

Company%20profile
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Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

Cryopreservation: A timeline
  1. Keyhole surgery under general anaesthetic
  2. Ovarian tissue surgically removed
  3. Tissue processed in a high-tech facility
  4. Tissue re-implanted at a time of the patient’s choosing
  5. Full hormone production regained within 4-6 months
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