For the Lebanese filmmaker Nour Wazzi, the Diff is about showcasing plans and reaching out to potential partners.
For the Lebanese filmmaker Nour Wazzi, the Diff is about showcasing plans and reaching out to potential partners.

Budding filmmakers on hunt for investors



Dubai // A star cast of veteran and young Arab and British actors may provide the leverage a young Lebanese filmmaker needs to break into the competitive, multimillion-dollar feature film industry.

For a budding filmmaker like Beirut-born Nour Wazzi, the Dubai International Film Festival (Diff) is about showcasing plans and reaching out to potential partners to realise the long-cherished dream of making feature films.

Well-known names such as the Palestinian actress Hiam Abbass, the Palestinian French actress Yasmine al Massri and the British actor Jimmy Akingbola - who acted in Wazzi's short film, Habibti - have committed to her planned feature.

Wazzi believes this will appeal to investors she meets at the festival.

"I'm lucky I'm an Arab and there is a lot of support coming from the Arab world these days," Wazzi said. "I think promoting culture is important because of a negative stereotype that Arabs have in society nowadays."

Habibti has its premiere on Saturday and Sunday in the Diff Muhr Arab Awards official competition.

In the film, a conservative mother, played by Abbass, is shocked to find her estranged daughter living with a boyfriend in London when she pays her a surprise visit.

The camera captures the tension between the three characters and the pain in the mother's eyes when her reason for leaving Beirut is revealed to be her husband's death.

"The lives of a lot of women here are centred around their husbands, and once they lose them their lives lose momentum, so they have to reinvent themselves," said Wazzi, who lives in London and produces documentaries and short films.

"What connects the mother and boyfriend is the daughter, who is their middle ground. She is their habibti - their darling, their love."

Venues like the Diff help independent filmmakers make contact with investors looking for new projects. Those projects, experts say, must be compelling and have realistic budgets.

"It's not hard to meet people at festivals, the thing is to convert the meeting into money," said Nicolas Forzy, an independent producer and founder of Dubai-based 4Z productions, which focuses on Emirati directors and writers. "The key thing for this region is to start small, with local stories."

Forzy, a French national, said keeping the budget low would help first-timers.

"The feedback I get from sales professionals is that any film budget close to US$2 million (Dh7.3m) is expensive," Forzy said. "Most films in the region are in the $1m to $1.5m mark. The risk for the investor with a new director must be significantly low."

About 220 films are being showcased from contemporary Arab, Asian and African cinema, and the festival also hosts workshops to aid young filmmakers.

Shivani Pandya, the Diff managing director, said the festival aimed to address concerns of new entrants.

"We have tried to be very strategic with the guidance, workshops, support and advice that is given," Ms Pandya said. "The first thing young directors should realise is that they must have a producer to handle the business side. It is the connections we hope people will make here that will help them."

Saima Duhare, a British theatre actor and director visiting from London, is hoping to make a crucial jump into cinema. She recently got an executive producer onboard to help kick-start her search for financiers.

"The biggest challenge is how do you convince people that you can make a good film," said Duhare, who was born in Lahore, Pakistan, and grew up in Birmingham. "Passion doesn't always work."

She aims to turn her theatrical production into a feature film. Her production, I'm a Londoner, explores a British Muslim woman's discovery that her lover's disappearance in London is inextricably tied to her younger brother's death in Afghanistan.

The production won praise as "extraordinary real and moving" from The British Theatre Guide.

Duhare hopes to interest financiers in a film with a diverse cast including eastern European, Nigerian, Irish and Muslim characters to tell the story of urban London.

She aims to use the theme that brought people into the theatre as the draw for her planned movie.

"Like the play, the movie is about people who get shunned, who get left out," she said. "I know they have fascinating stories to tell."

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Engine: 2-litre

Transmission: Eight-speed automatic

Power: 255hp

Torque: 273Nm

Price: Dh240,000

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
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How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
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Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

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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Company profile

Name: Steppi

Founders: Joe Franklin and Milos Savic

Launched: February 2020

Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year

Employees: Five

Based: Jumeirah Lakes Towers, Dubai

Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings

Second round raised Dh720,000 from silent investors in June this year

COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
If you go

Flying

Despite the extreme distance, flying to Fairbanks is relatively simple, requiring just one transfer in Seattle, which can be reached directly from Dubai with Emirates for Dh6,800 return.

 

Touring

Gondwana Ecotours’ seven-day Polar Bear Adventure starts in Fairbanks in central Alaska before visiting Kaktovik and Utqiarvik on the North Slope. Polar bear viewing is highly likely in Kaktovik, with up to five two-hour boat tours included. Prices start from Dh11,500 per person, with all local flights, meals and accommodation included; gondwanaecotours.com 

Abu Dhabi card

5pm: Handicap (TB) Dh100,000 2,400m

5.30pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 2,200m

6pm: Abu Dhabi Fillies Classic Prestige (PA) Dh110,000 1,400m

6.30pm: Abu Dhabi Colts Classic Prestige (PA) Dh110,000 1,400m

7pm: Handicap (PA) Dh85,000 1,600m

7.30pm: Maiden (PA) Dh80,000 1,600m

The National selections:

5pm: Valcartier

5.30pm: AF Taraha

6pm: Dhafra

6.30pm: Maqam

7pm: AF Mekhbat

7.30pm: Ezz Al Rawasi  

Tips to avoid getting scammed

1) Beware of cheques presented late on Thursday

2) Visit an RTA centre to change registration only after receiving payment

3) Be aware of people asking to test drive the car alone

4) Try not to close the sale at night

5) Don't be rushed into a sale 

6) Call 901 if you see any suspicious behaviour

Breast cancer in men: the facts

1) Breast cancer is men is rare but can develop rapidly. It usually occurs in those over the ages of 60, but can occasionally affect younger men.

2) Symptoms can include a lump, discharge, swollen glands or a rash. 

3) People with a history of cancer in the family can be more susceptible. 

4) Treatments include surgery and chemotherapy but early diagnosis is the key. 

5) Anyone concerned is urged to contact their doctor

 

Sunday's games

All times UAE:

Tottenham Hotspur v Crystal Palace, 4pm

Manchester City v Arsenal, 6.15pm

Everton v Watford, 8.30pm

Chelsea v Manchester United, 8.30pm

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4

Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.

Based: Riyadh

Offices: UAE, Vietnam and Germany

Founded: September, 2020

Number of employees: 70

Sector: FinTech, online payment solutions

Funding to date: $116m in two funding rounds  

Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices

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The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5