"There's this slightly psychological block against shopping right now," says the American Vogue editor Anna Wintour.
"There's this slightly psychological block against shopping right now," says the American Vogue editor Anna Wintour.

Hey, big spenders



Brace yourself, recession. You might be the biggest, baddest economic maelstrom to come along for decades but tonight you face an arm wrestle with the US Vogue editor-in-chief Anna Wintour. Fashion's Night Out is a global evening of celebration that Wintour developed during Paris Fashion Week earlier this year when she invited editors of Vogue's myriad international editions to breakfast at the Ritz. One imagines they picked at bits of fruit, sipped black tea and listened to Wintour's idea.

The plan was as follows: Wintour would use her address book and mighty clout to browbeat designers, celebrities, models and just about anybody useful in fashion into an evening in New York City, where stores would stay open late and hold various celebratory events. She wanted a night to celebrate fashion, to inject enthusiasm back into shopping and to get those cash tills singing out once again. Never mind that people were losing jobs; what they needed was a night of spending money. "I think there is this slightly psychological block against shopping right now," she noted, in an interview with WWD.

Other countries in which Vogue is published were to follow suit, and the grand list of participating satellites now includes the UK, France, Italy, Spain, Germany, Greece, Russia, Brazil, India, Japan, China and Taiwan. There has been plenty of frothy publicity for the evening. The website (www.fashionsnightout.com) features a video advertisement with Sarah Jessica Parker, Vera Wang and P Diddy. "New Yorkers are always in fashion," they say, speaking in turn as if in a classroom.

We learn that the fashion industry in New York employs 175,000 people and generates $10 billion (Dh37 billion) a year in wages. "Fashion is big," growls Diddy, emphasising the point by stretching his arms open. Nearly as big as his gold necklace, perhaps. "Let's make shopping fun again," they all trill. It's "Fashion's Night Out", laughs Wintour. Yes, that's actually her laughing. "Spend a little bit of money," pipes in Diddy, jiggling in a kind of morris dance.

Plans started in earnest in May, when the New York City Mayor Michael Bloomberg announced the initiative and put this brief visual feast up on the website. Wintour then announced that she would be kicking off her night at Macy's in Queens. In her recent interview with David Letterman, Wintour looked like she gagged a little when she mentioned Queens, but rest assured she is not soldiering there alone. The mayor and the designer Michael Kors will be there, too. "I don't sing or dance or do anything like that," Wintour told WWD modestly, so she has also enlisted the cast of Hair to perform.

More than 700 stores will remain open until 11.00pm. Other highlights include Oscar de la Renta singing in his Madison Avenue Boutique, Justin Timberlake in a pop-up shop in Saks, Kate Hudson putting in an appearance at Stella McCartney's eco-inspired evening at her Meatpacking District shop, Alexa Chung on the DJ decks in Chanel's downtown store and Victoria Beckham showing at Bergdorf Goodman. Proceeds from T-shirts sold will go to the National September 11 Memorial & Museum.

Elsewhere in the world, there will be similar shopping orgies. In London, more than 200 stores have signed up. Dover Street Market, also celebrating its fifth birthday, will feature appearances from Christopher Kane, Gareth Pugh and Hussein Chalayan. At Browns, fashion bods such as Charlotte Dellal and Jonathan Saunders will be behind the tills. Selfridges has created a special fashion ice cream for the evening, coloured black. Natch.

In Paris, the action is centred around Avenues Montaigne and Charles V. The editor of French Vogue Carine Roitfeld and Karl Lagerfeld will be minding the Chanel boutique. In Brazil, there will be parties in upscale malls in Rio de Janeiro and São Paulo with appearances from some of Brazil's most loved soap opera stars. In Moscow, Vogue has taken over Red Square; in New Delhi, Burberry will host a British-themed party in the DLF luxury mall; in Berlin, Mercedes Benz will shuttle VIPs and shoppers between the city's two main shopping districts, split according to the old East-West divide.

About 22,000 people are expected to flock to the three main shopping areas in Madrid; in Tokyo, more than 200 shops will stay open late and Christian Dior will show off a window display created in collaboration with Vogue. China is holding the evening under an art-meets-fashion banner in Beijing; Milan has a goal of 300 brands on 30 streets; in Taiwan there's a special lighting ceremony in the Taipei 101 tower, and Athens boasts 195 stores all ready and waiting to take your money.

Whoever said fashion was fickle?

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Navdeep Suri, India's Ambassador to the UAE

There has been a longstanding need from the Indian community to have a religious premises where they can practise their beliefs. Currently there is a very, very small temple in Bur Dubai and the community has outgrown this. So this will be a major temple and open to all denominations and a place should reflect India’s diversity.

It fits so well into the UAE’s own commitment to tolerance and pluralism and coming in the year of tolerance gives it that extra dimension.

What we will see on April 20 is the foundation ceremony and we expect a pretty broad cross section of the Indian community to be present, both from the UAE and abroad. The Hindu group that is building the temple will have their holiest leader attending – and we expect very senior representation from the leadership of the UAE.

When the designs were taken to the leadership, there were two clear options. There was a New Jersey model with a rectangular structure with the temple recessed inside so it was not too visible from the outside and another was the Neasden temple in London with the spires in its classical shape. And they said: look we said we wanted a temple so it should look like a temple. So this should be a classical style temple in all its glory.

It is beautifully located - 30 minutes outside of Abu Dhabi and barely 45 minutes to Dubai so it serves the needs of both communities.

This is going to be the big temple where I expect people to come from across the country at major festivals and occasions.

It is hugely important – it will take a couple of years to complete given the scale. It is going to be remarkable and will contribute something not just to the landscape in terms of visual architecture but also to the ethos. Here will be a real representation of UAE’s pluralism.

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The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Singham Again

Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5

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A%20QUIET%20PLACE
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Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

PROFILE BOX

Company name: Overwrite.ai

Founder: Ayman Alashkar

Started: Established in 2020

Based: Dubai International Financial Centre, Dubai

Sector: PropTech

Initial investment: Self-funded by founder

Funding stage: Seed funding, in talks with angel investors

EA%20Sports%20FC%2024
%3Cp%3EDeveloper%3A%20EA%20Vancouver%2C%20EA%20Romania%3Cbr%3EPublisher%3A%20EA%20Sports%3Cbr%3EConsoles%3A%20Nintendo%20Switch%2C%20PlayStation%204%26amp%3B5%2C%20PC%20and%20Xbox%20One%3Cbr%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
The specs: 2018 Chevrolet Trailblazer

Price, base / as tested Dh99,000 / Dh132,000

Engine 3.6L V6

Transmission: Six-speed automatic

Power 275hp @ 6,000rpm

Torque 350Nm @ 3,700rpm

Fuel economy combined 12.2L / 100km

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%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
AUSTRALIA SQUADS

ODI squad: Aaron Finch (captain), Ashton Agar, Alex Carey, Pat Cummins, Josh Hazlewood, Marnus Labuschagne, Mitchell Marsh, Glenn Maxwell, Kane Richardson, Steve Smith, Mitchell Starc, Matthew Wade, David Warner, Adam Zampa

Twenty20 squad: Aaron Finch (captain), Sean Abbott, Ashton Agar, Alex Carey, Pat Cummins, Mitchell Marsh, Glenn Maxwell, Jhye Richardson, Kane Richardson, Steve Smith, Mitchell Starc, Matthew Wade, David Warner, Adam Zampa