Bollywood stars deliver an electric and eclectic evening



Ahlan Bollywood started with a moderate delay at 9pm with a fashion show. Then came the first of the Bollywood performances, kicked off by the model and singer Sophie Choudhry. The Mera Babu Chail Chabila girl entertained the crowd with her energetic act and paved the way for the model and actress Zarine Khan, who performed to several songs including Surili Akhiyon Wale and Character Dheela. Next up was the Pakistani comedian Omar Shareef who provided comic relief with the sort of jokes that endear him to the desi crowds everywhere. With the crowd's funny bones sufficiently tickled, the Bollywood superstar Salman Khan made his grand entry.

Since this show was produced by Khan's brother Sohail, it was expected that Salman - who is riding high on the success of Ek Tha Tiger and is poised for the release of Dabangg 2 - would go all out to please the crowd, which he definitely did. In addition to performing some of his most popular songs, Khan also re-enacted short scenes and delivered lines he is best known for.

Priyanka Chopra, who has just delivered fabulously in the Oscar-nominated Barfi!, wowed the crowd with spirited performances to some of her most popular songs.

In between acts by the two superstars, the Pakistani qawwali singer Rahat Fateh Ali Khan added a touch of class to the evening with soulful Bollywood songs, including O Re Piya and Bol Na Halke Halke. He also performed some famous songs by his late uncle, the legendary Nusrat Fateh Ali Khan: Dam Mast Qalandar and Akhiyan Udeek Diyan.

The show went on well past 1am, with Salman Khan spending a surprisingamount of time on stage. This was a real treat for his UAE fans, who have waited seven years to see him perform again in the country. While this will go down as a memorable evening for thousands of Bollywood fans, it will forever be etched in the memory of one particular UAE resident: 20-year-old Sudhakshina Shivkumar. The winner of Shoe Mart's Dance Like a Star contest, Shivkumar got the opportunity to dance on stage alongside Khan and Chopra.

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UAE currency: the story behind the money in your pockets

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John Zubrzycki, Hurst Publishers

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Brief scores:

Manchester City 2

Gundogan 27', De Bruyne 85'

Crystal Palace 3

Schlupp 33', Townsend 35', Milivojevic 51' (pen)

Man of the Match: Andros Townsend (Crystal Palace)

MATCH DETAILS

Manchester United 3

Greenwood (21), Martial (33), Rashford (49)

Partizan Belgrade 0

The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
MANDOOB
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Red Joan

Director: Trevor Nunn

Starring: Judi Dench, Sophie Cookson, Tereza Srbova

Rating: 3/5 stars

TRAP

Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue

Director: M Night Shyamalan

Rating: 3/5

Results

5pm: Maiden (PA) Dh80,000 (Turf) 2,200m; Winner: Gurm, Antonio Fresu (jockey), Eric Lemartinel (trainer)

5.30pm: Handicap (PA) Dh80,000 (T) 1,600m; Winner: Al Nafece, Al Muatasm Al Balushi, Mohammed Ramadan

6pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,200m; Winner: Ashton Tourettes, Adrie de Vries, Ibrahim Aseel

6.30pm: Arabian Triple Crown – Group 3 (PA) Dh300,000 (T) 2,200m; Winner: Ottoman, Adrie de Vries, Abdallah Al Hammadi

7pm: Liwa Oasis – Group 2 (PA) 300,000 (T) 1,400m; Winner: Hakeemat Muscat, Szczepan Mazur, Ibrahim Al Hadhrami

7.30pm: Handicap (TB) Dh80,000 (T) 1,600m; Winner: Ganbaru, Antonio Fresu, Musabah Al Muhairi

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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.”

Ticket prices

General admission Dh295 (under-three free)

Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free

Buy tickets at: wbworldabudhabi.com/en/tickets

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