Audio Tonic takes cover
Audio Tonic – the team behind 360°’s distinctive Friday-night Sunset Sessions – has taken a detour into more upbeat territories with a new indoor club night.
In addition to their much-loved alfresco concept, the team is starting a new night, Shibuya, subtitled “The Art of House Music”, a markedly grittier affair in the new Tecom nightspot The Basement.
“Nearly all our events have been open-air until now,” said the founder Mike Bufton, aka Mr Mr. “This gives us the chance to take it where clubbing culture was born, inside a true nightclub with four walls, a low ceiling and banging sound system.”
To get the new night off to a storming start, Audio Tonic have called on the services of the phenomenal French talent Rodriguez Jr, renowned for his “live” sets that blur the boundaries between a DJ set and band.
“I have some loops recorded, then I programme most of my beats live, and then I improvise on the keyboard over that – a lot,” explains the 37-year-old French DJ. “So every night it’s the same tracks, but the intensity, beats and structure are different – it’s like a rock band.”
Rodriguez is a master in the studio, too. His recent EP, Persistence of Vision, built on the sonic scope and ambition of his 2011 album, Bittersweet.
“I’ve known the Audio Tonic guys for a long time and I’m looking forward to this new venue,” he says. “It’s a basement vibe, very different to the concept they have at 360° – more underground, sweaty and ravey.”
• Read our full interview with Rodriguez Jr at www.thenational.ae/arts-life
• Shibuya is on tonight from 10pm at The Basement, Boutique 7 Hotel & Suites, Tecom, Dubai. Dh100 entry, ladies free before midnight
Join in the birthday celebraitons
Something old
Launched as a few stapled sheets of nightlife listings in 2004 – an Ice Age ago in UAE clubland terms – all-purpose Infusion has grown to become a main player on Dubai’s nightlife scene, as the promoter behind hip club nights such as House of Afrika and GlobalFunk.
The brand marks a major milestone tomorrow night with its We Are 10 anniversary party, featuring a visit from the prolific American-born, Greece-based, jazz-influenced producer Osunlade, plus a stint from the Dutch decksmith Born2Funk.
“Seeing the city grow and being part of creating its clubbing history for the past 10 years is an honour for the Infusion team,” said its founder, managing director and DJ Charl Chaka. “We look forward to the next 10 years of creating special moments and events in Dubai.”
Tomorrow from 6pm at The Deck on 8, Media One Hotel, Dubai Media City, free entry
Something new
Also celebrating an anniversary this weekend is Something Big, which rings in two years with a Super Batch Party starring international drum’n’bass names Alix Perez and DLR.
Over the past 24 months the brand has grown internationally, with tie-ups alongside Croatia’s Outlook Festival and the Czech Republic’s Let It Roll, as well as hosting an impressive roster of regular international events.
Its founder Omar Shaker said: “We are extremely proud to be celebrating our second birthday and are ecstatic with the way the brand has grown over time.
“It’s such a satisfying feeling to stick with an underground format that we believe in, while maintaining a very strong and dedicated following.”
• Casting off from Dubai Marina tonight at 10pm, Dh350 including beverages
Something blue
Another birthday party in town, but this one is just stopping by – the German techno pioneer Martin Buttrich is celebrating 20 years of music-making with his tour, which lands at Blue Marlin this weekend.
•Tomorrow from 1pm at Blue Marlin Ibiza, Ghantoot, reservations 056 113 3400
Other happenings in clubland
The Breakbeat pioneer Krafty Kuts is back in Dubai, spinning alongside A Skillz tonight at Zero Gravity, SkyDive Dubai. Doors from 6pm. Entry is free for men before 10pm and ladies before midnight, otherwise Dh100.
The Canadian EDM duo DVBBS, best known for last year's UK number one Tsunami, spin at Dubai's People by Crystal tomorrow, doors 10pm. Entry Dh100 for ladies, Dhs250 for gents or Dh300 per couple.
Cafè Mambo Ibiza hosts a one-off night as part of its World Tour, which hits Cielo Sky Lounge, Dubai Creek Yacht Club tonight, doors from 6pm, reservations 055 106 9059.
Newcomers
Pacha Ibiza Dubai
In case you missed it, after more than a year of hype Pacha Ibiza Dubai finally opens to the public this weekend. A huge multi-room concept, the venue mixes a stage show, pan-Asian restaurant and three distinct dance floors in the Souk Madinat spot where Trilogy used to be – check www.thenational.ae for our full preview.
• Launch party tomorrow from 8pm, Souk Madinat Jumeirah, Dubai, entry Dh150
Skank launch
UK garage-club brand Skank is launching in the UAE, with a performance from early pioneers DJ Luck & MC Neat, known for their UK top 10 hits Master Blaster 2000 and Ain’t No Stopping Us.
•Tonight from 10pm at Story Rooftop Lounge, Holiday Inn Express, Dubai Knowledge Village, free entry
Grant Nelson
Going head-to-head with their own residents, Dubai’s 360° is launching a new Thursday-night concept with the Sunstroke team. Best known for their popular Dubai Marina boat parties, their new landlocked residency kicks off tonight with a special guest, the UK garage forefather Grant Nelson, pictured, behind the decks alongside Shane D.
• Tonight, from 6pm at 360°, Jumeirah Beach Hotel, free entry
rgarratt@thenational.ae
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
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OPINIONS ON PALESTINE & ISRAEL
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
Profile of Bitex UAE
Date of launch: November 2018
Founder: Monark Modi
Based: Business Bay, Dubai
Sector: Financial services
Size: Eight employees
Investors: Self-funded to date with $1m of personal savings
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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.”
Frankenstein in Baghdad
Ahmed Saadawi
Penguin Press
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
MATCH INFO
Arsenal 1 (Aubameyang 12’) Liverpool 1 (Minamino 73’)
Arsenal win 5-4 on penalties
Man of the Match: Ainsley Maitland-Niles (Arsenal)
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