Abu Dhabi Festival 'getting right balance', says UK opera chief



With the UK being chosen as a country of honour by the forthcoming Abu Dhabi Festival comes a rare performance by London's Royal Opera House (ROH) of Beloved Friend to the UAE for the Abu Dhabi Festival.

It will mark only the third time the story of the Russian composer Tchaikovsky and his financier and muse the Russian businesswoman Nadezdha von Meck will have been staged, following up on a performance at Buckingham Palace at the request of the Prince of Wales and another at the ROH.

Tony Hall, the chief executive of the ROH who was appointed to the British House of Lords last year, was in Abu Dhabi for the announcement of the festival line-up this week and also plans to attend some of the 168 shows on offer when the event is held from March 11 to April 6.

"The choice of performances offers many wonderful events, including Beloved Friend," he said. "It also includes reflections on Emirati culture - so getting that right balance, building new audiences, offering many performances for free and proceeds going to charity, I think is great. Education is clearly important and we look forward to exploring in what ways the ROH team can contribute."

The United Kingdom has been chosen as the Country of Honour by the ADF this year. The founder and artistic director of the festival, Hoda Al Khamis Kanoo, said pivotal partnerships with "elite organisations" including the ROH, Manchester International Festival and Edinburgh International Festival, among others, will be celebrated.

Having visited the UAE a few times before, Hall praised Kanoo for contributions in developing the local arts and culture scene. "Mrs Kanoo is very committed and the direction is spot on," he said. "We hope this is just the beginning of our relationship to work together to produce great art," he said. "We are usually very careful about the partnerships we agree to, because it means plenty of time and energy. But this seems like it will be very interesting."

Hall took up his position at ROH in 2001, after leaving a position as the chief executive of BBC News, and has been credited with bringing financial stability to the arts institution.

During his tenure he also set up ROH2, a department tasked with supporting new artists and seeking out new audiences. He also masterminded the Royal Opera House's acquisition of the DVD production and distribution company Opus Arte, and has overseen a new scheme allowing the elderly to purchase low-cost tickets.

"The results have been fantastic," said Hall. "It is our responsibility to get all from the community involved."

Made a member of the House of Lords in 2010, Hall is a busy man. He is currently the deputy chairman of Channel 4 Television and was asked by the government to set up and chair a board to direct the Cultural Olympia. He is also on the board of the London Organising Committee for the Olympic Games.

"I am just immensely lucky to be doing things I enjoy. I love arts and theatre and working with audiences. To find yourself as chair of the cultural festival alongside the Olympics is amazing and London is perfect."

June Chichester, an ROH trustee also on hand at the ADF launch, was confident that the universal story of Beloved Friend should captivate audiences in the UAE just as it did in the UK.

"It is an unusual love story about Tchaikovsky and the lady that became his patron and muse. They corresponded for 12 years but never met in person, yet they became soul mates," she said. "He was quite a lonely man so they built this spiritual and intellectual relationship. He was a man who expressed himself best through music."

The Royal Opera House performance of Beloved Friend is on April 2 at the Emirates Palace hotel

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

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.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Stage 2 results

Caleb Ewan (AUS) Lotto Soudal 04:18:18

Sam Bennett (IRL) Deceuninck-QuickStep 00:00:02

Arnaud Demare (FRA) Groupama-FDJ 00:00:04

4 Diego Ulissi (ITA) UAE Team Emirates

5 Rick Zabel (GER) Israel Start-Up Nation

General Classification

Caleb Ewan (AUS) Lotto Soudal 07:47:19

2 Sam Bennett (IRL) Deceuninck-QuickStep 00:00:12

3 Arnaud Demare (FRA) Groupama-FDJ 00:00:16

4 Nikolai Cherkasov (RUS) Gazprom-Rusvelo 00:00:17

5 Alexey Lutsensko (KAZ) Astana Pro Team 00:00:19

Company%20Profile
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Ronaldo's record at Man Utd

Seasons 2003/04 - 2008/09

Appearances 230

Goals 115

Retirement funds heavily invested in equities at a risky time

Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.

Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.

The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.

The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.

Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.

The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.

• Bloomberg