For 16 years, stars arriving at the annual International Indian Film Academy Awards have been greeted by a bright green carpet, instead of the traditional red. First introduced at the event in Sheffield, UK, in 2007, the colour change has not only allowed the travelling Bollywood ceremony to stand out, but also deliver an important global message about climate change.
“IIFA has always put the environmental agenda at the realm of IIFA Awards,” organisers told The National. “In 2007, we launched the concept 'Greening The IIFAs' and came up with the idea of bright green carpets instead of traditional red ones.
“IIFA has always helped create clever messaging on the environment that the stars and celebrities involved would convey to the audiences and fans globally. And today, with the power of celebrity following, it’s worked.”
First held in the year 2000, in London, the IIFA Awards were conceptualised by Mumbai event company Wizcraft International Entertainment to honour the best Hindi films and movie talents of the previous year. It is held in a different country every year, usually spread across a number of days, culminating with a gala awards night, and it has been instrumental in boosting Bollywood's popularity globally.
Dubai hosted the event in 2006, and other host countries have included Bangkok, New York, Colombo, Amsterdam, Madrid, Florida, Kuala Lumpur and Macau. Abu Dhabi plays host for the third year in a row this weekend. This year, the event, called IIFA Festival, will be spread across three days, starting with IIFA Utsavam on Friday, a night dedicated to South Indian films and entertainment.
The flagship IIFA Awards, which honours the best in Hindi films or films from Bollywood, takes place on Saturday. This will be followed by IIFA Rocks on Sunday, a night of music. All three events are being held at the Etihad Arena on Yas Island.
Bollywood superstar Shah Rukh Khan will host this year's IIFA Awards alongside producer and director Karan Johar and actor Vicky Kaushal. The trio have all hosted the awards separately in the past. Meanwhile, IIFA Utsavam will be hosted by stars representing each of the regional South Indian languages.
Rana Dagubatti and Teja Sajja will host the Telugu awards, while Sathish and Diya Menon will represent the Tamil film industry. For Kannada films, actors Akul Balaji and Vijay Raghavendra will host, while the Malayalam segment will be hosted by actor Sudev Nair and actress Pearle Maaney.
Performers for the IIFA Awards include Bollywood veteran Rekha and actors Kaushal, Shahid Kapoor, Kriti Sanon and Janhvi Kapoor.
For IIFA Utsavam, performers include actresses Pragya Jaiswal, Raashii Khanna, Regina Cassandra and Aradhana Ram as well as actor, director and choreographer Prabhu Deva and actor Shane Nigam. Composer Devi Sri Prasad, popularly known as DSP, will also perform.
IIFA Rocks will begin with the Bollywood music trio Shankar-Ehsaan-Loy. The group are behind multiple hits spanning more than three decades and are made up of Shankar Mahadevan, Ehsaan Noorani and Loy Mendonsa. The trio will be honoured on the night, for their contribution to Indian cinema. Rapper Honey Singh, Romanian actress Lulia Vantur and singer Shilpa Rao will also perform.
The history of the red carpet
The term “red carpet treatment” is believed to have been coined in the 1900s when the New York Central Railroad typically used scarlet-coloured carpets for first-class ticket holders boarding the trains. Hollywood began to adopt the colour for film premières and events in the 1920s.
It achieved global status when broadcasters of the Academy Awards in 1964 started filming the arrival of guests as they stepped out of their limousines. The red carpet became the place where stars and VIPs made their grand entrance.
Today, it is used at major events around the world, including at formal ceremonial events to mark the path of heads of states.
– This story was originally published on May 24, 2023
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The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
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Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
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Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
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.”
