Actress and filmmaker Fatima Al-Banawi, who hails from Saudi Arabia, was named by Cartier as its latest ambassador for the Middle East region.
Over the weekend, the French jewellery house unveiled its latest high jewellery collection, entitled Sixieme Sens par Cartier, at Lake Como in Italy.
The glittering event was hosted by Cyrille Vigneron, president and chief executive of Cartier, Egyptian actress Yasmine Sabri, filmmaker Nadine Labaki, and Princess Deena Aljuhani Abdulaziz, a Saudi entrepreneur and former Vogue Arabia editor, who were all joined by Al-Banawi in her new role.
Al-Banawi is not only a writer, actress and filmmaker, but she also graduated from Harvard University with a master's degree in theological studies, specialising in women, gender and Islamic studies, and holds a bachelor’s degree in psychology from Effat University in Jeddah.
On a self-declared mission to "[unearth] personal, social and universal meanings through art", according to her website, Al-Banawi rose to fame in 2016, for her role in Barakah Meets Barakah, which showed at the Berlin International Film Festival and was Saudi Arabia's entrant for Best Foreign Language Film at the 89th Academy Awards.
In 2018, she was named by Time magazine as a Next Generation Leader, for co-founding The Other Story Project in Saudi Arabia, which has gathered almost 5,000 true stories from strangers and turned them into productions, including short film A Blink of an Eye.
More recently, her acting work has included the Egyptian Netflix series Paranormal and Al Shak (The Doubt), which she co-wrote, directed and starred in, all from her home during the pandemic in 2020, according to IMDb.
She's a woman with many strings to her bow, as, in 2017, she was also selected for a Nike advertising campaign to highlight Arab pioneers, while later that same year she was involved in a Tedx event in Saudi Arabia.
At the start of 2020, her first feature film project Basma was chosen by the Red Sea Festival, while her short film, Until We See the Light, was one of five films by Saudi female directors to be highlighted in a project focused on the achievements of women from the kingdom.
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Read more:
Expo 2020 Dubai: Cartier's Women’s Pavilion to shine a light on equality and empowerment
'Everything happened through a screen': How three friends created an entire TV show while housebound
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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.”
MATCH INFO
Uefa Champions League semi-finals, first leg
Liverpool v Roma
When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome
MATCH INFO
Manchester United v Manchester City, Wednesday, 11pm (UAE)
Match is on BeIN Sports
How to donate
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
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Selected fixtures
All times UAE
Wednesday
Poland v Portugal 10.45pm
Russia v Sweden 10.45pm
Friday
Belgium v Switzerland 10.45pm
Croatia v England 10.45pm
Saturday
Netherlands v Germany 10.45pm
Rep of Ireland v Denmark 10.45pm
Sunday
Poland v Italy 10.45pm
Monday
Spain v England 10.45pm
Tuesday
France v Germany 10.45pm
Rep of Ireland v Wales 10.45pm
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Essentials
The flights
Return flights from Dubai to Windhoek, with a combination of Emirates and Air Namibia, cost from US$790 (Dh2,902) via Johannesburg.
The trip
A 10-day self-drive in Namibia staying at a combination of the safari camps mentioned – Okonjima AfriCat, Little Kulala, Desert Rhino/Damaraland, Ongava – costs from $7,000 (Dh25,711) per person, including car hire (Toyota 4x4 or similar), but excluding international flights, with The Luxury Safari Company.
When to go
The cooler winter months, from June to September, are best, especially for game viewing.
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
WISH
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