British artist Thomas Houseago, centre, poses with American actor Brad Pitt, right, and Australian musician Nick Cave at the Sara Hilden Art Museum in Tampere, Finland. AFP
British artist Thomas Houseago, centre, poses with American actor Brad Pitt, right, and Australian musician Nick Cave at the Sara Hilden Art Museum in Tampere, Finland. AFP
British artist Thomas Houseago, centre, poses with American actor Brad Pitt, right, and Australian musician Nick Cave at the Sara Hilden Art Museum in Tampere, Finland. AFP
British artist Thomas Houseago, centre, poses with American actor Brad Pitt, right, and Australian musician Nick Cave at the Sara Hilden Art Museum in Tampere, Finland. AFP

Brad Pitt and Nick Cave make surprise art debut in Finland


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Hollywood’s Brad Pitt and Australian musician Nick Cave have made their art world debut at an exhibition in Finland.

The Sara Hilden Art Museum, located in the southern Finnish city of Tampere, was initially scheduled to exhibit solely the wide variety of works by British artist Thomas Houseago — known for his sculptures — but he reportedly persuaded the museum to include works by his friends Pitt and Cave.

“Cave and Pitt are already renowned in their respective fields of music and cinema, but this is the first time ever they have exhibited their artwork — pieces which were created during the course of an ongoing dialogue with Houseago,” the Finnish museum said.

Pitt and Cave travelled to Tampere, a university city known for its vibrant culture and music scene, for a pre-opening event on Saturday. Finnish media reported that both men acknowledged being excited and nervous about presenting their art in public for the first time.

Among the nine works on show by the 58-year-old Pitt is a house-shaped structure moulded in clear silicon and shot with bullets and a plaster panel depicting a shooting scene. Pitt reportedly began making ceramic art following his divorce from Angelina Jolie in 2017.

Pitt told the Finnish public broadcaster YLE that his work was about “self-reflection”.

“It’s about, you know, where have I got it wrong in my relationships? Where have I mis-stepped? Where I am complicit?” he said.

“It was born out of ownership of really what I call a radical inventory of self, getting really, brutally honest with me and … taking account of those I may have hurt and moments I’ve just got wrong.”

  • Brad Pitt, in a paisley shirt, at the 'True Romance' premiere in Hollywood, California, on August 9, 1993. Getty Images
    Brad Pitt, in a paisley shirt, at the 'True Romance' premiere in Hollywood, California, on August 9, 1993. Getty Images
  • Brad Pitt, in a white linen shirt, and Gwyneth Paltrow attend the 'Living in Oblivion' premiere on July 12, 1995 at the Royal Theatre in West Los Angeles, California. Getty Images
    Brad Pitt, in a white linen shirt, and Gwyneth Paltrow attend the 'Living in Oblivion' premiere on July 12, 1995 at the Royal Theatre in West Los Angeles, California. Getty Images
  • Brad Pitt, in a wide-open collar, arrives for the 'Meet Joe Black' premiere at the Ziegfeld Theatre in New York City on November 12, 1998. Getty Images
    Brad Pitt, in a wide-open collar, arrives for the 'Meet Joe Black' premiere at the Ziegfeld Theatre in New York City on November 12, 1998. Getty Images
  • Brad Pitt, in a black suit and questionable sunglasses, and Jennifer Aniston at the 51st Annual primetime Emmy Awards in Los Angeles, California, on September 12, 1999. Getty Images
    Brad Pitt, in a black suit and questionable sunglasses, and Jennifer Aniston at the 51st Annual primetime Emmy Awards in Los Angeles, California, on September 12, 1999. Getty Images
  • Brad Pitt, in a leather jacket and combat trousers, and Jennifer Aniston attend the 'Erin Brockovich' premiere in Los Angeles, California, on March 14, 2000. Getty Images
    Brad Pitt, in a leather jacket and combat trousers, and Jennifer Aniston attend the 'Erin Brockovich' premiere in Los Angeles, California, on March 14, 2000. Getty Images
  • Brad Pitt, wearing a beaded necklace, and Jennifer Aniston arrive at the 52nd Annual Primetime Emmy Awards on September 10, 2000 in Los Angeles, California. Getty Images
    Brad Pitt, wearing a beaded necklace, and Jennifer Aniston arrive at the 52nd Annual Primetime Emmy Awards on September 10, 2000 in Los Angeles, California. Getty Images
  • Brad Pitt, in a taupe suit, and Jennifer Aniston arrive for the premiere of 'The Mexican' on February 23, 2001 in Westwood, California. Getty Images
    Brad Pitt, in a taupe suit, and Jennifer Aniston arrive for the premiere of 'The Mexican' on February 23, 2001 in Westwood, California. Getty Images
  • Brad Pitt, in sunnies and a grey blazer, at a photocall for 'Troy' during the 57th Cannes Film Festival on May 13, 2004 in Cannes, France. Getty Images
    Brad Pitt, in sunnies and a grey blazer, at a photocall for 'Troy' during the 57th Cannes Film Festival on May 13, 2004 in Cannes, France. Getty Images
  • Brad Pitt, in a classic tux, and Jennifer Aniston attend the premiere of 'Troy' at Le Palais de Festival on May 13, 2004 in Cannes, France. Getty Images
    Brad Pitt, in a classic tux, and Jennifer Aniston attend the premiere of 'Troy' at Le Palais de Festival on May 13, 2004 in Cannes, France. Getty Images
  • Brad Pitt, in clear plastic sunglasses, attends the Japanese premiere of 'Troy' at Nippon Budokan on May 17, 2004 in Tokyo. Getty Images
    Brad Pitt, in clear plastic sunglasses, attends the Japanese premiere of 'Troy' at Nippon Budokan on May 17, 2004 in Tokyo. Getty Images
  • Brad Pitt, in a camel coat, at a photocall to promote 'Ocean's Twelve' on December 10, 2004 in Rome, Italy. Getty Images
    Brad Pitt, in a camel coat, at a photocall to promote 'Ocean's Twelve' on December 10, 2004 in Rome, Italy. Getty Images
  • Matt Damon and Brad Pitt, in a long black dress coat, at the European premiere of 'Ocean's Twelve' on December 10, 2004 at the Palazzo Venezia in Rome, Italy. Getty Images
    Matt Damon and Brad Pitt, in a long black dress coat, at the European premiere of 'Ocean's Twelve' on December 10, 2004 at the Palazzo Venezia in Rome, Italy. Getty Images
  • Brad Pitt, in a jacket and bleached hair, on stage at Live 8 London in Hyde Park on July 2, 2005 in London, England. Getty Images
    Brad Pitt, in a jacket and bleached hair, on stage at Live 8 London in Hyde Park on July 2, 2005 in London, England. Getty Images
  • Brad Pitt, in a knit beanie, with daughter Zahara at the New Tokyo International Airport on November 27, 2005 in Narita, Japan. Getty Images
    Brad Pitt, in a knit beanie, with daughter Zahara at the New Tokyo International Airport on November 27, 2005 in Narita, Japan. Getty Images
  • Brad Pitt, in Tom Ford, attends a photocall for 'A Mighty Heart' at the Palais des Festivals during the 60th Cannes Film Festival on May 21, 2007 in Cannes, France. Getty Images
    Brad Pitt, in Tom Ford, attends a photocall for 'A Mighty Heart' at the Palais des Festivals during the 60th Cannes Film Festival on May 21, 2007 in Cannes, France. Getty Images
  • Brad Pitt and Angelina Jolie attend the premiere for 'A Mighty Heart' at the Palais des Festivals during the 60th Cannes Film Festival on May 21, 2007 in Cannes, France. Getty Images
    Brad Pitt and Angelina Jolie attend the premiere for 'A Mighty Heart' at the Palais des Festivals during the 60th Cannes Film Festival on May 21, 2007 in Cannes, France. Getty Images
  • Brad Pitt and Angelina Jolie at the premiere for 'Ocean's Thirteen' at the Palais des Festivals during the 60th Cannes Film Festival on May 24, 2007 in Cannes, France. Getty Images
    Brad Pitt and Angelina Jolie at the premiere for 'Ocean's Thirteen' at the Palais des Festivals during the 60th Cannes Film Festival on May 24, 2007 in Cannes, France. Getty Images
  • Brad Pitt, in a light beige three-piece, attends a photocall for 'The Assassination Of Jesse James' at the 64th Venice Film Festival on September 2, 2007 in Venice, Italy. Getty Images
    Brad Pitt, in a light beige three-piece, attends a photocall for 'The Assassination Of Jesse James' at the 64th Venice Film Festival on September 2, 2007 in Venice, Italy. Getty Images
  • Angelina Jolie and Brad Pitt, in a cream tux, attend 'The Assassination Of Jesse James' premiere during the 64th Venice Film Festival on September 2, 2007 in Venice, Italy. Getty Images
    Angelina Jolie and Brad Pitt, in a cream tux, attend 'The Assassination Of Jesse James' premiere during the 64th Venice Film Festival on September 2, 2007 in Venice, Italy. Getty Images
  • Brad Pitt, in a flat cap and coat, and Angelina Jolie arrive for the premiere of 'The Assassination of Jesse James' during the 33rd Deauville American Film Festival on September 3, 2007 in Deauville , France. Getty Images
    Brad Pitt, in a flat cap and coat, and Angelina Jolie arrive for the premiere of 'The Assassination of Jesse James' during the 33rd Deauville American Film Festival on September 3, 2007 in Deauville , France. Getty Images
  • Brad Pitt, in a charcoal three-piece, and Angelina Jolie attend the 'Beowulf' premiere at the Vue Leicester Square on November 11, 2007 in London, England. Getty Images
    Brad Pitt, in a charcoal three-piece, and Angelina Jolie attend the 'Beowulf' premiere at the Vue Leicester Square on November 11, 2007 in London, England. Getty Images
  • Angelina Jolie and Brad Pitt attend the 'Kung Fu Panda' premiere at the Palais des Festivals during the 61st Cannes Film Festival on May 15, 2008 in Cannes, France. Getty Images
    Angelina Jolie and Brad Pitt attend the 'Kung Fu Panda' premiere at the Palais des Festivals during the 61st Cannes Film Festival on May 15, 2008 in Cannes, France. Getty Images
  • Brad Pitt, in a summer suit, during the 'Burn After Reading' photocall at the 65th Venice Film Festival at Palazzo del Casino on August 27, 2008 in Venice, Italy. Getty Images
    Brad Pitt, in a summer suit, during the 'Burn After Reading' photocall at the 65th Venice Film Festival at Palazzo del Casino on August 27, 2008 in Venice, Italy. Getty Images
  • Brad Pitt and Angelina Jolie arrive for the premiere of 'The Curious Case of Benjamin Button' at the Sony Center CineStar on January 19, 2009 in Berlin, Germany. Getty Images
    Brad Pitt and Angelina Jolie arrive for the premiere of 'The Curious Case of Benjamin Button' at the Sony Center CineStar on January 19, 2009 in Berlin, Germany. Getty Images
  • Brad Pitt, in Tom Ford, and Angelina Jolie attend 'The Curious Case of Benjamin Button' premiere on January 22, 2009 at Gaumont Marignan in Paris. Getty Images
    Brad Pitt, in Tom Ford, and Angelina Jolie attend 'The Curious Case of Benjamin Button' premiere on January 22, 2009 at Gaumont Marignan in Paris. Getty Images
  • Brad Pitt, in Tom Ford, and Angelina Jolie arrive for the Orange British Academy Film Awards at the Royal Opera House on February 8, 2009 in London, England. Getty Images
    Brad Pitt, in Tom Ford, and Angelina Jolie arrive for the Orange British Academy Film Awards at the Royal Opera House on February 8, 2009 in London, England. Getty Images
  • Brad Pitt, in Spencer, attends the 'Inglourious Basterds' photocall held at the Palais Des Festivals during the 62nd Cannes Film Festival on May 20, 2009 in Cannes, France. Getty Images
    Brad Pitt, in Spencer, attends the 'Inglourious Basterds' photocall held at the Palais Des Festivals during the 62nd Cannes Film Festival on May 20, 2009 in Cannes, France. Getty Images
  • Brad Pitt, in monogrammed shoes, attends the 'Inglorious Basterds' premiere during the 57th San Sebastian International Film Festival on September 18, 2009 in San Sebastian, Spain. Getty Images
    Brad Pitt, in monogrammed shoes, attends the 'Inglorious Basterds' premiere during the 57th San Sebastian International Film Festival on September 18, 2009 in San Sebastian, Spain. Getty Images
  • Brad Pitt, dressed down in a beanie and jeans, attends the premiere of 'Kick Ass' at the Empire Leicester Square on March 22, 2010 in London, England. Getty Images
    Brad Pitt, dressed down in a beanie and jeans, attends the premiere of 'Kick Ass' at the Empire Leicester Square on March 22, 2010 in London, England. Getty Images
  • Brad Pitt, in leather trousers, and Angelina Jolie attend 'The Tourist' premiere at Palacio de los Deportes on December 16, 2010 in Madrid, Spain. Getty Images
    Brad Pitt, in leather trousers, and Angelina Jolie attend 'The Tourist' premiere at Palacio de los Deportes on December 16, 2010 in Madrid, Spain. Getty Images
  • Brad Pitt, in Maison Martin Margiela, attends 'The Tree Of Life' photocall during the 64th Cannes Film Festival at Palais des Festivals on May 16, 2011 in Cannes, France. Getty Images
    Brad Pitt, in Maison Martin Margiela, attends 'The Tree Of Life' photocall during the 64th Cannes Film Festival at Palais des Festivals on May 16, 2011 in Cannes, France. Getty Images
  • Angelina Jolie and Brad Pitt, in Tom Ford, attend 'The Tree Of Life' premiere during the 64th Cannes Film Festival at Palais des Festivals on May 16, 2011 in Cannes, France. Getty Images
    Angelina Jolie and Brad Pitt, in Tom Ford, attend 'The Tree Of Life' premiere during the 64th Cannes Film Festival at Palais des Festivals on May 16, 2011 in Cannes, France. Getty Images
  • Brad Pitt, in Dolce & Gabbana, and Angelina Jolie attend the 'In The Land of Blood and Honey' premiere during the 62nd Berlin International Film Festival on February 11, 2012 in Berlin, Germany. Getty Images
    Brad Pitt, in Dolce & Gabbana, and Angelina Jolie attend the 'In The Land of Blood and Honey' premiere during the 62nd Berlin International Film Festival on February 11, 2012 in Berlin, Germany. Getty Images
  • Brad Pitt, in Gucci, poses at the 'Killing Them Softly' photocall during the 65th Cannes Film Festival at Palais des Festivals on May 22, 2012 in Cannes, France. Getty Images
    Brad Pitt, in Gucci, poses at the 'Killing Them Softly' photocall during the 65th Cannes Film Festival at Palais des Festivals on May 22, 2012 in Cannes, France. Getty Images
  • Angelina Jolie and Brad Pitt attends the premiere of 'World War Z' at The Empire Cinema on June 2, 2013 in London, England. Getty Images
    Angelina Jolie and Brad Pitt attends the premiere of 'World War Z' at The Empire Cinema on June 2, 2013 in London, England. Getty Images
  • Brad Pitt, in Valentino, at the EE British Academy Film Awards at The Royal Opera House on February 16, 2014 in London, England. Getty Images
    Brad Pitt, in Valentino, at the EE British Academy Film Awards at The Royal Opera House on February 16, 2014 in London, England. Getty Images
  • Brad Pitt, in Gucci, and Angelina Jolie attend a private reception at Kensington Palace on May 8, 2014 in London, England. Getty Images
    Brad Pitt, in Gucci, and Angelina Jolie attend a private reception at Kensington Palace on May 8, 2014 in London, England. Getty Images
  • Brad Pitt, in jeans and a checked blazer, attends the photocall for 'Fury' during the 58th BFI London Film Festival at The Corinthia Hotel on October 19, 2014 in London, England. Getty Images
    Brad Pitt, in jeans and a checked blazer, attends the photocall for 'Fury' during the 58th BFI London Film Festival at The Corinthia Hotel on October 19, 2014 in London, England. Getty Images
  • Brad Pitt, in Salvatore Ferragamo, attends the 'Fury' premiere at Time Square on November 13, 2014 in Seoul, South Korea. Getty Images
    Brad Pitt, in Salvatore Ferragamo, attends the 'Fury' premiere at Time Square on November 13, 2014 in Seoul, South Korea. Getty Images
  • Brad Pitt, in Salvatore Ferragamo, attends the premiere of 'Allied' at Callao City Lights on November 22, 2016 in Madrid, Spain. Getty Images
    Brad Pitt, in Salvatore Ferragamo, attends the premiere of 'Allied' at Callao City Lights on November 22, 2016 in Madrid, Spain. Getty Images
  • Brad Pitt, in white suiting, attends the Japanese premiere of 'War Machine' in Tokyo, Japan, on May 23, 2017. EPA
    Brad Pitt, in white suiting, attends the Japanese premiere of 'War Machine' in Tokyo, Japan, on May 23, 2017. EPA
  • Brad Pitt, in Garrett Leight sunnies, attends the photocall for 'Once Upon a Time ... in Hollywood' during the 72nd Cannes Film Festival on May 22, 2019 in Cannes, France. Getty Images
    Brad Pitt, in Garrett Leight sunnies, attends the photocall for 'Once Upon a Time ... in Hollywood' during the 72nd Cannes Film Festival on May 22, 2019 in Cannes, France. Getty Images
  • Brad Pitt attends the 'Once Upon a Time... in Hollywood' premiere at the Odeon Luxe Leicester Square on July 30, 2019 in London, England. Getty Images
    Brad Pitt attends the 'Once Upon a Time... in Hollywood' premiere at the Odeon Luxe Leicester Square on July 30, 2019 in London, England. Getty Images
  • Brad Pitt attends the 'Ad Astra' screening during the 76th Venice Film Festival at Sala Grande on August 29, 2019 in Venice, Italy. Getty Images
    Brad Pitt attends the 'Ad Astra' screening during the 76th Venice Film Festival at Sala Grande on August 29, 2019 in Venice, Italy. Getty Images
  • Brad Pitt attends a press conference for 'Ad Astra' at National Museum of Emerging Science and Innovation, Miraikan on September 12, 2019 in Tokyo, Japan. Getty Images
    Brad Pitt attends a press conference for 'Ad Astra' at National Museum of Emerging Science and Innovation, Miraikan on September 12, 2019 in Tokyo, Japan. Getty Images
  • Brad Pitt, in Brioni, with the Oscar for Best Supporting Actor during the 92nd Academy Awards at the Dolby Theatre in Hollywood, California, on February 9, 2020. EPA
    Brad Pitt, in Brioni, with the Oscar for Best Supporting Actor during the 92nd Academy Awards at the Dolby Theatre in Hollywood, California, on February 9, 2020. EPA

Cave, known for his dark baritone voice as the frontman for his band Nick Cave and the Bad Seeds, produced a series of ceramic figurines that depict the life of the devil. He designed, painted and glazed the 17 figures between 2020 and this year.

“I wanted to do a devil because it was red. And I like the colour of red glaze,” Cave told YLE. “Eventually I decided to make the life story of the devil itself.

“For me, personally, it speaks into something about the idea of forgiveness or the need to be forgiven. It’s a very personal work for me.”

The exhibition opened on Sunday and runs through January 15, 2023.

The%20Killer
%3Cp%3E%3Cstrong%3EDirector%3A%C2%A0%3C%2Fstrong%3EDavid%20Fincher%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%C2%A0%3C%2Fstrong%3EMichael%20Fassbender%2C%20Tilda%20Swinton%2C%20Charles%20Parnell%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%C2%A0%3C%2Fp%3E%0A
Joe Root's Test record

Tests: 53; Innings: 98; Not outs: 11; Runs: 4,594; Best score: 254; Average: 52.80; 100s: 11; 50s: 27

RESULTS

5pm Wathba Stallions Cup Maiden (PA) Dh70,000 (Dirt) 1,400m

Winner Munfared, Fernando Jara (jockey), Ahmed Al Mehairbi (trainer)

5.30pm Handicap (PA) Dh70,000 (D) 1,600m

Winner Sawt Assalam, Szczepan Mazur, Ibrahim Al Hadhrami

6pm Maiden (PA) Dh70,000 (D) 1,800m

Winner Dergham Athbah, Pat Dobbs, Mohamed Daggash

6.30pm Handicap (PA) Dh70,000 (D) 1,800m

Winner Rajee, Fernando Jara, Majed Al Jahouri

7pm Conditions (PA) Dh80,000 (D) 1,800m

Winner Kerless Del Roc, Fernando Jara, Ahmed Al Mehairbi

7.30pm Handicap (TB) Dh70,000 (D) 2,000m

Winner Pharoah King, Pat Dobbs, Doug Watson

8pm Conditions (PA) Dh85,000 (D) 2,000m

Winner Sauternes Al Maury, Dane O’Neill, Doug Watson

11 cabbie-recommended restaurants and dishes to try in Abu Dhabi

Iqbal Restaurant behind Wendy’s on Hamdan Street for the chicken karahi (Dh14)

Pathemari in Navy Gate for prawn biryani (from Dh12 to Dh35)

Abu Al Nasar near Abu Dhabi Mall, for biryani (from Dh12 to Dh20)

Bonna Annee at Navy Gate for Ethiopian food (the Bonna Annee special costs Dh42 and comes with a mix of six house stews – key wet, minchet abesh, kekel, meser be sega, tibs fir fir and shiro).

Al Habasha in Tanker Mai for Ethiopian food (tibs, a hearty stew with meat, is a popular dish; here it costs Dh36.75 for lamb and beef versions)

Himalayan Restaurant in Mussaffa for Nepalese (the momos and chowmein noodles are best-selling items, and go for between Dh14 and Dh20)

Makalu in Mussaffa for Nepalese (get the chicken curry or chicken fry for Dh11)

Al Shaheen Cafeteria near Guardian Towers for a quick morning bite, especially the egg sandwich in paratha (Dh3.50)

Pinky Food Restaurant in Tanker Mai for tilapia

Tasty Zone for Nepalese-style noodles (Dh15)

Ibrahimi for Pakistani food (a quarter chicken tikka with roti costs Dh16)

Results

ATP Dubai Championships on Monday (x indicates seed):

First round
Roger Federer (SUI x2) bt Philipp Kohlschreiber (GER) 6-4, 3-6, 6-1
Fernando Verdasco (ESP) bt Thomas Fabbiano (ITA) 3-6, 6-3, 6-2
Marton Fucsovics (HUN) bt Damir Dzumhur (BIH) 6-1, 7-6 (7/5)
Nikoloz Basilashvili (GEO) bt Karen Khachanov (RUS x4) 6-4, 6-1
Jan-Lennard Struff (GER) bt Milos Raonic (CAN x7) 6-4, 5-7, 6-4

UAE squad

Humaira Tasneem (c), Chamani Senevirathne (vc), Subha Srinivasan, NIsha Ali, Udeni Kuruppuarachchi, Chaya Mughal, Roopa Nagraj, Esha Oza, Ishani Senevirathne, Heena Hotchandani, Keveesha Kumari, Judith Cleetus, Chavi Bhatt, Namita D’Souza.

FIXTURES

UAE’s remaining fixtures in World Cup qualification R2
Oct 8: Malaysia (h)
Oct 13: Indonesia (a)
Nov 12: Thailand (h)
Nov 17: Vietnam (h)
 

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.”

COMPANY%20PROFILE%20
%3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A
AIR
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EBen%20Affleck%3Cbr%3E%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EMatt%20Damon%2C%20Jason%20Bateman%2C%20Ben%20Affleck%2C%20Viola%20Davis%3Cbr%3E%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Types of fraud

Phishing: Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.

Smishing: The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.

Vishing: The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.

SIM swap: Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.

Identity theft: Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.

Prize scams: Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.

* Nada El Sawy

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

While you're here

Michael Young: Where is Lebanon headed?

Kareem Shaheen: I owe everything to Beirut

Raghida Dergham: We have to bounce back

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

Women%E2%80%99s%20Asia%20Cup
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UAE currency: the story behind the money in your pockets
It's up to you to go green

Nils El Accad, chief executive and owner of Organic Foods and Café, says going green is about “lifestyle and attitude” rather than a “money change”; people need to plan ahead to fill water bottles in advance and take their own bags to the supermarket, he says.

“People always want someone else to do the work; it doesn’t work like that,” he adds. “The first step: you have to consciously make that decision and change.”

When he gets a takeaway, says Mr El Accad, he takes his own glass jars instead of accepting disposable aluminium containers, paper napkins and plastic tubs, cutlery and bags from restaurants.

He also plants his own crops and herbs at home and at the Sheikh Zayed store, from basil and rosemary to beans, squashes and papayas. “If you’re going to water anything, better it be tomatoes and cucumbers, something edible, than grass,” he says.

“All this throwaway plastic - cups, bottles, forks - has to go first,” says Mr El Accad, who has banned all disposable straws, whether plastic or even paper, from the café chain.

One of the latest changes he has implemented at his stores is to offer refills of liquid laundry detergent, to save plastic. The two brands Organic Foods stocks, Organic Larder and Sonnett, are both “triple-certified - you could eat the product”.  

The Organic Larder detergent will soon be delivered in 200-litre metal oil drums before being decanted into 20-litre containers in-store.

Customers can refill their bottles at least 30 times before they start to degrade, he says. Organic Larder costs Dh35.75 for one litre and Dh62 for 2.75 litres and refills will cost 15 to 20 per cent less, Mr El Accad says.

But while there are savings to be had, going green tends to come with upfront costs and extra work and planning. Are we ready to refill bottles rather than throw them away? “You have to change,” says Mr El Accad. “I can only make it available.”

COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

Updated: September 20, 2022, 6:39 PM