Ben Goldwasser, left, and Andrew VanWyngarden of the band MGMT perform at the Coachella Valley Music and Arts Festival in Indio, California.
Ben Goldwasser, left, and Andrew VanWyngarden of the band MGMT perform at the Coachella Valley Music and Arts Festival in Indio, California.

Giving fans what they don't necessarily want



Picture the scene. You're at a gig you've looked forward to for ages. The hits from the band in question have soundtracked your every move for the past six months. This will be an evening where you can let yourself go and sing along to your favourite songs at top volume. And then the frontman leans into the mic and tells you: "This one's a new one." It's one of the most deflating sentences in the rock lexicon, but shouldn't it actually be one of the most encouraging?

Such brave decisions to give the crowd what the artists think they need are becoming more and more prevalent. Take Tom Jones, who's just played to a packed crowd at the Latitude festival in England. His audience - surprisingly diverse in age and tastes - had come prepared to hear songs from his excellent new album Praise & Blame, but also had every right to expect they would sing along to Sex Bomb, Delilah or It's Not Unusual. Instead, Jones ambled his way through Praise & Blame in its entirety, thanked everyone profusely for staying with him, and left. For a man well versed in giving his fans exactly what they want, it was probably a rather odd experience for him, too.

In the end, Jones played a great set. But he's not been alone this year in surprising an expectant throng. Earlier this month, Lou Reed played to a chorus of boos as he "treated" his audience to, as one member put it to the Montreal Gazette, "discordant noise lacking melody, style, beauty or skill". There was certainly no Walk On The Wild Side, despite that classic song from his Velvet Underground days earning an explicit mention in the programme.

True, there was a clue that this would be no ordinary show. Reed was playing the Montreal International Jazz Festival. But it didn't prevent people from walking out after his bandmate John Zorn invited those who had paid nearly U$100 and didn't think they were listening to "music" to do just that. In the end, surprisingly, concertgoers who did leave and asked for a refund actually got their money back.

It's not just the "heritage acts" who play fast and loose with their own back catalogues. MGMT's return to touring earlier this year was remarkable not just for the fact that the new record they were promoting, Congratulations, contains absolutely no hit singles whatsoever. They also refused to play Kids, their most recognisable song to date. All of which was perhaps understandable - MGMT wanted to concentrate on their new material - but in the end remarkably arrogant. It's a five-minute song everybody in the crowd would have wanted to hear. Could they really not have spared the time to play it?

At the same time, though, such determination to confront audience expectations should be applauded. If you're about to see a big band, such as Coldplay or U2, playing live, going on the fan forums beforehand is like reading a spoiler for a forthcoming film. The set lists for these groups are immoveable beasts - thanks to the tightly choreographed pyrotechnics, no doubt - which remain unchanged from city to city. It means it's easy for arena bands simply to go through the motions.

So there's a genuinely wide chasm between purely entertaining an audience and making a live artistic statement. It's not a dilemma confined to music, either. The comedian Rhod Gilbert often bemoans the inherent paradox in stand-up comedy. If he creates a set of all-new material, then he runs the risk of disappointing fans who, often, have learnt his best jokes via the best-selling DVD and want to hear them retold, live. But if he does choose to include some of his better work collated over the years, he's accused of re-hashing the same old jokes.

Surely, though, we want our favourite bands and comedians to keep developing creatively. It's what keeps them fresh, vital, interesting. It's just that it appears we'd prefer them not to do so in the live arena - where somehow they're shortchanging the fans by not playing a crowd-pleasing set. So is there a nice, utopian middle ground where the hits intermingle with promise of some (good) new material? Yes. It's those tours where a band plays an album in its entirety and then some other fan favourites in the encore. You know exactly what you're getting with them. But who ever wanted rock'n'roll to be that boringly prescriptive?

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

MATCH INFO

Uefa Champions League semi-final:

First leg: Liverpool 5 Roma 2

Second leg: Wednesday, May 2, Stadio Olimpico, Rome

TV: BeIN Sports, 10.45pm (UAE)

Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

The specs

Engine: 3-litre twin-turbo V6

Power: 400hp

Torque: 475Nm

Transmission: 9-speed automatic

Price: From Dh215,900

On sale: Now

AGUERO'S PREMIER LEAGUE RECORD

Apps: 186
Goals: 127
Assists: 31
Wins: 117
Losses: 33

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.”

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Company profile

Name: Dukkantek 

Started: January 2021 

Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani 

Based: UAE 

Number of employees: 140 

Sector: B2B Vertical SaaS(software as a service) 

Investment: $5.2 million 

Funding stage: Seed round 

Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office  

THE BIO

Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13 

Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier

Favourite place to travel to: Any walkable city. I also love nature and wildlife 

What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents. 

Favorite place to go in the UAE: A quiet beach.

The biog

Hometown: Cairo

Age: 37

Favourite TV series: The Handmaid’s Tale, Black Mirror

Favourite anime series: Death Note, One Piece and Hellsing

Favourite book: Designing Brand Identity, Fifth Edition

Match info

Manchester United 4
(Pogba 5', 33', Rashford 45', Lukaku 72')

Bournemouth 1
(Ake 45 2')

Red card: Eric Bailly (Manchester United)

MO
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Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Calls

Directed by: Fede Alvarez

Starring: Pedro Pascal, Karen Gillian, Aaron Taylor-Johnson

4/5

The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now