Photographs With Flags, 1997 - 2003, Photographs, Dimensions variable, Courtesy Mohammed Kazem
Photographs With Flags, 1997 - 2003, Photographs, Dimensions variable, Courtesy Mohammed Kazem

UAE pavilion at next year's Venice Biennale to feature Mohammed Kazem



Mohammed Kazem, who was part of the "second generation" of Emirati contemporary artists and a protégé of Hassan Sharif, has been tasked with representing the UAE at the 55th edition of the Venice Biennale next June.

This won't be the first time the 43-year-old artist has participated in the Venice Biennale, having exhibited with the Abu Dhabi Authority for Culture and Heritage's (Adach) platform in 2009.

"I want to show that contemporary art has been established in the UAE since the end of the 1970s," says Kazem. "There was a gap between the audience and the society between contemporary art at that time. But Hassan Sharif was teaching for 10 years in order to create a new generation of artists, which I'm part of."

Together with Sharif, Kazem has been a pioneer of more experimental forms in art in the UAE, in addition to maintaining his practice as a painter. Kazem has also helped curate shows in Dubai and Sharjah that featured young Emirati talent.

Reem Fadda, the curator of the forthcoming UAE pavilion, says that returning to an older generation of Emirati artist was important for next year's event. "There was very interesting critical thinking and a futuristic approach in the other two UAE pavilions, but we want to go back in history," she says. "It offers grounding but also an individualist narrative to focus on one artist as a way to talk about the urbanity and modernity of the country."

Fadda is the associate curator of Middle Eastern art for the Solomon R Guggenheim Foundation in New York. She has previously worked on an exhibition of Palestinian artists at the Venice Biennale in 2009. "There's very much a need to historicise the art movement in the UAE, which has roots over 40 years ago, and ground the art historical discourse," she says. "What better place than the national pavilion to provide that nuanced history?"

Kazem's work has often dealt with this modernity directly, and Fadda refers to his 1997 work Photos withFlags to illustrate.

"You see Mohammed Kazem with his back to us, standing near a coloured flag in an empty space in Dubai. As we know, a lot of these empty spaces later became highly developed with buildings... We understand that work as a critical reminder that the intellectual and the artist was present to interrogate where we will go forward in time and be a witness to that kind of development."

The Venice Biennale is an exhibition that allows countries to present national pavilions dedicated to artists often from that country. Next year's participation will mark the third time the UAE has been represented and the first time it has presented a solo show in its pavilion.

The pavilion is supported by the Ministry of Culture, Youth and Community Development and, for the first time this year, the Sheikha Salama bint Hamdan Al Nahyan Foundation.

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On sale: December
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The specs: 2018 Kia Picanto

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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.

The Great Derangement: Climate Change and the Unthinkable
Amitav Ghosh, University of Chicago Press

German plea
Ukrainian President Volodymyr Zelenskyy told the German parliament that. Russia had erected a new wall across Europe. 

"It's not a Berlin Wall -- it is a Wall in central Europe between freedom and bondage and this Wall is growing bigger with every bomb" dropped on Ukraine, Zelenskyy told MPs.

Mr Zelenskyy was applauded by MPs in the Bundestag as he addressed Chancellor Olaf Scholz directly.

"Dear Mr Scholz, tear down this Wall," he said, evoking US President Ronald Reagan's 1987 appeal to Soviet leader Mikhail Gorbachev at Berlin's Brandenburg Gate.

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

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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Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
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Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

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.”

The specs

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Power: 154bhp

Torque: 250Nm

Transmission: 7-speed automatic with 8-speed sports option 

Price: From Dh79,600

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