Manpreet Kaur on the set of Shagun TV, India's first 24-hour matrimonial TV station.
Manpreet Kaur on the set of Shagun TV, India's first 24-hour matrimonial TV station.
Manpreet Kaur on the set of Shagun TV, India's first 24-hour matrimonial TV station.
Manpreet Kaur on the set of Shagun TV, India's first 24-hour matrimonial TV station.

Matches made in TV heaven


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NEW DELHI // Manpreet Kaur stands in front of a green screen, introducing photographs of prospective brides and grooms.

Using special effects, their images will be shown on the screen to television viewers, accompanied by detailed descriptions including their height, profession, caste, date of birth and the colour of their skin - which will range from fair and "wheatish" to dusky.

Kaur, 25, the host of Mujhse Shaadi Karoge? (Will you marry me?), is pre-recording a message for the show.

"You feel the pressure to get married," she says. "Everyone is asking you, 'When will you get married?'.

"You have had a hard day at work and you come home and turn on the TV and the picture of a profile flashes in front of you. You say, 'I like it'. You call us, thinking we can help you. We can."

Welcome to Shagun TV, a wedding-themed channel on Indian satellite television that was launched on April 26. It broadcasts 24/7, with the hosts of the pre-taped shows offering advice on the latest trends in gold jewellery, honeymoon destinations and wedding themes and decor.

It was years in the making. The idea first struck Anuranjan Jha, the founder of the station, 12 years ago, when he met his wife online.

"I thought this idea of meeting someone online should be on TV, but it did not take shape then," he said.

For the past eight years, Mr Jha said, he has spent every day working on story ideas for the station, while working for Indian news television.

"Wherever I worked, news stations were always interested in the idea at first but backed off, saying it was 'too expensive', or it was 'not worthy'," he said.

Two years ago, after a friend offered to help with the financing, he quit his job as the head of CNEB news and dedicated his time to launching Shagun TV.

"In that time I always thought 'why is no one thinking about this channel?'" he said. "After all, weddings in India are always big.

"You can say it is part of our culture, our tradition, but it is also something that involves the family and the extended families.

"At a wedding, you have the entire family's attention. Much like our target audience - the entire family."

Marriage is big business in India. Parents often take loans to finance extravagant weddings that, on average, cost 5 million rupees (Dh340,000).

Overall, the wedding industry was worth 1,953.1 billion rupees last year, up 25 per cent on the previous year, according to the business research firm, Netscribes, which is based in the state of Haryana.

On average, families spend the most, about 48 per cent of their wedding budget, on jewellery, followed by clothes, invitations, decor and hotel reservations.

"You can safely assume other markets are involved," Mr Jha said. "You give a gift. It is a car or a flat. Then the real-estate market and the car market become involved and these are not even counted as spending factors, as part of the actual wedding-ceremony figures."

To tap into this, Mr Jha calls his station "a complete information provider for weddings".

For example, Pawan Kaushik, 42, is an astrologer who will reveal how the stars align for couples who submit their charts.

"I try my best to make sure the auras don't clash. You don't want that. They will fight a lot in their married life if that happens," said Mr Kaushik, who will be featured five times a week on a show called, Janam Janam Ka Saath (Together for Lifetimes).

Revenue for the venture will come from advertising by gold merchants, hotels, travel agencies, and other businesses offering wedding-related services.

Other income is expected to come in from subscribers who want to take advantage of the database of dating profiles.

In the basement of the Shagun TV offices in Noida, Haryana, are the studios where editors are putting finishing touches to programmes, while the hosts of the shows are busy in the make-up room or rehearsing lines in the corridors.

Priyank Dubey, 29, is the only male presenter working with the channel's 13 female hosts. He presents Honeymoon Travels, a show dedicated to promoting lesser-known holiday destinations in India.

His pre-taped shows have already taken him to five locations across the country, including Mahabaleshwar in western India, which is known for its picturesque hilltops and popularly referred to in India as the "land of strawberries" .

"In my show, I travel alone and tell the viewer that I feel a bit of sadness not being able to share this experience with a special someone," said Mr Dubey, a bachelor. "If you bring your beloved, the place will be even better."

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Another way to earn air miles

In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.

An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.

“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.

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 are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

One in nine do not have enough to eat

Created in 1961, the World Food Programme is pledged to fight hunger worldwide as well as providing emergency food assistance in a crisis.

One of the organisation’s goals is the Zero Hunger Pledge, adopted by the international community in 2015 as one of the 17 Sustainable Goals for Sustainable Development, to end world hunger by 2030.

The WFP, a branch of the United Nations, is funded by voluntary donations from governments, businesses and private donations.

Almost two thirds of its operations currently take place in conflict zones, where it is calculated that people are more than three times likely to suffer from malnutrition than in peaceful countries.

It is currently estimated that one in nine people globally do not have enough to eat.

On any one day, the WFP estimates that it has 5,000 lorries, 20 ships and 70 aircraft on the move.

Outside emergencies, the WFP provides school meals to up to 25 million children in 63 countries, while working with communities to improve nutrition. Where possible, it buys supplies from developing countries to cut down transport cost and boost local economies.

 

RESULT

Al Hilal 4 Persepolis 0
Khribin (31', 54', 89'), Al Shahrani 40'
Red card: Otayf (Al Hilal, 49')

SHAITTAN
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What went into the film

25 visual effects (VFX) studios

2,150 VFX shots in a film with 2,500 shots

1,000 VFX artists

3,000 technicians

10 Concept artists, 25 3D designers

New sound technology, named 4D SRL

 

UAE currency: the story behind the money in your pockets
Rocketman

Director: Dexter Fletcher

Starring: Taron Egerton, Richard Madden, Jamie Bell

Rating: 3 out of 5 stars 

Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

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

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

What is blockchain?

Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.

The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.

Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.

However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.

Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.

The Vile

Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

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