In a room full of journalists and flashing cameras, Amitabh Bachchan is calm and composed, albeit a bit worse for the wear.
The 71-year-old megastar, who has more than 180 films to his credit in his 40-year-old career in Hindi cinema, was in Dubai yesterday for the red-carpet premiere of his new film Bhoothnath Returns, out in UAE cinemas today. His co-stars Boman Irani and little Parth Bhalerao, the child actor who plays a street kid in the film, also accompanied him.
The non-stop promotional tour for the film may have taken a toll on Bachchan’s health, but his funny bone is intact. He wrote yesterday on his blog at srbachchan.tumblr.com: “Press meets, interviews, shifting from one microphone to the other, responses to the questions which sound and look the same, a trying time for the acumen of an actor ... tested and dried ..”
“It’s a challenge for an actor,” confesses Bachchan, adjusting his electric blue glasses. “You have to give the same responses but make it sound as thought you’re hearing the question for the first time.”
But that doesn’t stop him from recognising that promotions have become a part of filmmaking, though.
“There is a lot of budgeting and a lot of time that goes into promotions,” he says. “People who have done it well have seen results. The lifespan of a film is short. You want to get collections in at the very beginning and that’s where promotions help. Of course, there are the purists who insist that promotions are not necessary if the film has its own strength, but Boman and I are very obedient actors.”
He looks at Irani and chuckles. “We do what our producer asks us to do. He asked us to come to Dubai after having worked the whole night and here we are. We try to look pleasant and happy and talk about the film.”
And not least because the UAE is a huge market for Bollywood.
“Well, it’s the leading international market now for Indian cinema,” Bachchan says. “We are happy and proud to be here. This is perhaps the first time I am here for the premiere of a film of mine. I have been here many times for other occasions. It’s always a joy to be here. It’s like stepping out of my home in Mumbai and stepping into another home. The people here are friendly and warm, and we have so many from our own land here. They understand us and they show their affection. It’s fantastic!”
When asked whether all the time spent on shooting, and then on promotions, takes a toll on him, and whether he ever resents having to spend so much time away from family, especially his grandchildren, Bachchan shrugs it off as part of the job.
“This happens in every profession. You have a job to do and, at times, you have to make tough choices. When we went into the profession, our families knew what we were going to do and that our time was going to be pretty limited with them. They understand and we understand and things work out.”
Talking about the film Bhoothnath Returns, Bachchan refuses to divulge whether he plays a ghost contesting in an election, which is what the trailers seem to indicate.
“Yes, the trailer seems to say this,” he says, “but you will get the correct answer when you see the film. Revealing all that now would not be proper. But yes, there is an occasion where a situation arises where there is the possibility of fighting an election. Whether he does or does not, what the results are … you have to see the film to find that out.”
• Bhoothnath Returns is now playing in theatres across the UAE
artslife@thenational.ae
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
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Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
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.”
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