Canadian singer The Weeknd has managed to avoid jail time in the United States after punching a Las Vegas police officer earlier this year. According to court documents filed this week, the singer, whose real name is Abel Tesfaye, has agreed to "stay out of trouble" in exchange for having the case dismissed. He also pledged to do 50 hours of community work in his native Canada, to contribute US$1,000 [Dh3,670] to a fund for injured police officers and to undergo counseling. The 25-year-old R&B singer was arrested in January at the Cromwell Hotel in Las Vegas after police were called in to break up a fight. He punched a police officer and was arrested following the incident. The Weeknd, best known for his hit song Can't Feel My Face, is considered an early favourite for the upcoming Grammy Awards. – AP
J K Rowling play to feature adult Harry Potter and son Albus
An adult Harry Potter and his son, Albus Severus will take centre stage in a theatrical sequel to J K Rowling's magical book series. Producers revealed on Friday that Harry Potter and the Cursed Child will open where Rowling's books ended – 19 years after the boy wizard's epic battle with Lord Voldemort. A synopsis says Harry is now an overworked civil servant in the Ministry of Magic, while his youngest son is struggling "with the weight of a family legacy he never wanted". The play will run in two parts that can be seen either on the same day or different days. It opens on July 30 at London's Palace Theatre. The first-ever play about the bespectacled wizard is based on a new story by Rowling, scriptwriter Jack Thorne and director John Tiffany. – AP
Raf Simons leaving Dior after more than three years
Christian Dior says creative director Raf Simons will leave the storied French fashion house for what it called “personal reasons”. Simons, known for minimalist designs, has been creative director of Dior’s women’s collection for three-and-a-half years. In a statement on Thursday, Simons said his decision to leave Dior was “based entirely and equally on my desire to focus on other interests in my life, including my own brand, and the passions that drive me outside of my work.” Dior’s statement made no mention of Simons’s replacement. – AP
Daniel Craig won’t say whether Spectre is his 007 swansong
Is Spectre Daniel Craig's swansong as Bond? We'll have to wait and see. The British actor makes his fourth appearance as the suave secret agent 007 in the Sam Mendes-directed film, which has its world premiere in London on Monday, October 26. Speculation has swirled that it will be Craig's last film as James Bond, ever since the actor told Time Out magazine that he would only make another Bond movie "for the money". But asked on Thursday by Britain's Press Association about returning to Bond, Craig joked: "Do I have a choice?"
Bond battles a shadowy international conspiracy in Spectre, which opens in the UAE on November 6. – AP
SRK receives autographed copy of The Alchemist from Coelho
Bollywood superstar Shah Rukh Khan was elated to receive an autographed copy of acclaimed writer Paulo Coelho's The Alchemist. "&,when you want something, all the universe conspires in helping u to achieve it.Thx @paulocoelho This is so special," SRK posted on Twitter along with images of his signed copy of the book. Coelho's autograph read, "Dear Shah Rukh Khan, a master of acting. With my admiration". Earlier this month, SRK sent across a collection of his films to the Brazilian author, who has written several books such as Brida, Eleven Minutes and Adultery, to introduce him to the world of Hindi films. – IANS
Elton John reunites with band for new album
Elton John on Thursday announced his first album in nearly three years. In it, the pop legend reunites with long-time backup artists. The 68-year-old English singer said that Wonderful Crazy Night, his 33rd studio album, will come out worldwide on February 5. A first song from the album, Looking Up, shows John going back to the blues-rock sound, characteristic of his early work, with the song driven by a heavy rhythm guitar. It marks a return to an upbeat feel for John after his last album, The Diving Board, a more stripped-down work consisting largely of John singing alone with his piano. – AFP
RESULT
West Brom 2 Liverpool 2
West Brom: Livermore (79'), Rondón (88' )
Liverpool: Ings (4'), Salah (72')
Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
Notable groups (UAE time)
Jordan Spieth, Si Woo Kim, Henrik Stenson (12.47pm)
Justin Thomas, Justin Rose, Louis Oosthuizen (12.58pm)
Hideki Matsuyama, Brooks Koepka, Tommy Fleetwood (1.09pm)
Sergio Garcia, Jason Day, Zach Johnson (4.04pm)
Rickie Fowler, Paul Casey, Adam Scott (4.26pm)
Dustin Johnson, Charl Schwartzel, Rory McIlroy (5.48pm)
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 DETAILS
Kaala
Dir: Pa. Ranjith
Starring: Rajinikanth, Huma Qureshi, Easwari Rao, Nana Patekar
Rating: 1.5/5
Seven tips from Emirates NBD
1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately
BAD%20BOYS%3A%20RIDE%20OR%20DIE
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Adil%20El%20Arbi%20and%20Bilall%20Fallah%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EWill%20Smith%2C%20Martin%20Lawrence%2C%20Joe%20Pantoliano%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A
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.”
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
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
