Emirati filmmaker Ali Mostafa on the set of his film, From A to B, at the Corniche in Abu Dhabi. Silvia Razgova / The National
Emirati filmmaker Ali Mostafa on the set of his film, From A to B, at the Corniche in Abu Dhabi. Silvia Razgova / The National

Offering a film location is just the first step



What do Bang Bang, The Bourne Legacy, Fast and Furious 7 and Star Wars: Episode VII have in common? They all contain scenes shot in Abu Dhabi. With crews from Hollywood, Bollywood and the regional film industry flocking to the emirate, it is moving steadily towards its goal of becoming a global hub for filmmaking.

As The National reported yesterday, the city is the only one in the Middle East to make it onto a list of top international locations for film production in the latest issue of online magazine P3 Update. A major film and entertainment website, The Hollywood Reporter, also pointed out that Abu Dhabi is "poised to become Hollywood's go-to locale" in the region.

P3 Update said the vibrant locations, modern architecture, Arab heritage and year-round sunny weather make it “like no place on Earth”. The weather allows film crews plenty of natural light and helps keep them on schedule with few rain-induced delays. The mild winter allows for production when some European and North American locations are grey and wet. All this is further enhanced by Abu Dhabi’s mix of political stability, social tolerance and a well-deserved reputation for hospitality.

Then there’s the financial factor: the UAE offers incentives that few other locations can match. The Abu Dhabi Film Commission provides a 30 per cent rebate on feature films, television shows, commercials and music videos, a figure that also applies to airfares with Etihad and accommodation. The emirate is also investing in developing local talent to produce highly-skilled film professionals, meaning crews can be hired locally.

These advantages should not go unnoticed by the industry heavy­weights attending the Abu Dhabi Film Festival, which is taking place until Saturday. Meanwhile, the local decision-makers should be looking at other ways of keeping the momentum going with the view to building up a local film industry. Possibilities for financially supporting such an industry include creating a fund-raising infrastructure through a new investment product, or even a small fee collected at cinemas. Just Dh1 added to the ticket price for a Hollywood or Bollywood blockbuster could create millions so homegrown filmmakers can tell our own stories.

What should do investors do now?

What does the S&P 500's new all-time high mean for the average investor? 

Should I be euphoric?

No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.

So what happened?

It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.

"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."

Should I buy? Should I sell?

Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.

"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.

All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.

Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.

Will the rally last?

No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.

"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."

I Feel Pretty
Dir: Abby Kohn/Mark Silverstein
Starring: Amy Schumer, Michelle Williams, Emily Ratajkowski, Rory Scovel
 

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Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

The%20specs
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TRAP

Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue

Director: M Night Shyamalan

Rating: 3/5

Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

The Year Earth Changed

Directed by:Tom Beard

Narrated by: Sir David Attenborough

Stars: 4

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The specs: Aston Martin DB11 V8 vs Ferrari GTC4Lusso T

Price, base: Dh840,000; Dh120,000

Engine: 4.0L V8 twin-turbo; 3.9L V8 turbo

Transmission: Eight-speed automatic; seven-speed automatic

Power: 509hp @ 6,000rpm; 601hp @ 7,500rpm

Torque: 695Nm @ 2,000rpm; 760Nm @ 3,000rpm

Fuel economy, combined: 9.9L / 100km; 11.6L / 100km

Blackpink World Tour [Born Pink] In Cinemas

Starring: Rose, Jisoo, Jennie, Lisa

Directors: Min Geun, Oh Yoon-Dong

Rating: 3/5

Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
What is graphene?

Graphene is extracted from graphite and is made up of pure carbon.

It is 200 times more resistant than steel and five times lighter than aluminum.

It conducts electricity better than any other material at room temperature.

It is thought that graphene could boost the useful life of batteries by 10 per cent.

Graphene can also detect cancer cells in the early stages of the disease.

The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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Company%20profile
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Company%20Profile
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While you're here
Naga
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