Just as we're getting used a dip in temperatures in the capital, Abu Dhabi prepares to heat up next spring with an influx of Latin dancers at the first International Salsa Festival to be held in the region. On April 23, 24 and 25, Le Royal Méridien hotel will host a series of workshops and shows by international dance stars. The hotel will also provide accommodation for the over 1,000 salseros who will fly in from around the world. Live bands and Latin DJs will provide the background music for a weekend of intense dance and professionally acclaimed dancers such as Jaime Jesus, Little Liz and Amy Mills from Australia, as well as John Narvaez and Liz Rojaz from California, to name a few.
At Dubai's Festival of Taste in Jumeirah last week, we discovered that baby Jean Novelli, only nine weeks old, is already following in the footsteps of his well-travelled father, the celebrity chef Jean-Christophe Novelli. Baby Novelli and his mother, Michelle Kennedy, who is engaged to the cook, were in town as Novelli senior cooked up a storm. "He already has more air miles than a lot of grown-ups," the chef told me. "He was born in Los Angeles, came with me to London, then Qatar and after Dubai we are all going on to Spain and Austria." Jean is the first child for the couple but Novelli, 46, who has a 21-year-old daughter, Christina, from a previous marriage, said fatherhood was easier second time around. "Thankfully he sleeps well. I thought it would be like getting back onto a bicycle but things have changed so much." The chef also shares nappy-changing duties with his partner. "I have already had to do it twice this morning," he said.
The British chef James Martin, who also appeared at the festival, showed he wasn't averse to taking a leaf out of the cookbook of Delia Smith. Her bestseller, How To Cheat At Cooking, caused a storm earlier this year when she suggested making shepherd's pie with frozen mash and tinned mince. So it came as something of a surprise when Martin shared a recipe for white chocolate and raspberry trifle with festivalgoers, which included shop-bought Swiss roll as one of the ingredients. "I don't think it matters. No one has time to make Swiss roll these days," he scoffed.
The home of Venu Rajamony, the consul general of India, was beaming with decorative lights recently as the melodious rhythm of Hindustani classical music filled the air. The voice of Anita Singhvi, a classical singer, was enjoyed by Indian expatriates who gathered at the villa in Al Safa for an "Evening of Ghazals", organised with the support of Indian Council for Cultural Relations and Carfare. The highlight of the event, undoubtedly, was the presence of Farooque Shaikh, the actor and theatre personality, who added to the mood of the evening by narrating scripts. Shaikh's narration was welcomed each time with a huge round of applause by the audience.
thefalcon@thenational.ae
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Director: M Night Shyamalan
Rating: 3/5
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Norwich City 0 Southampton 3 (Ings 49', Armstrong 54', Redmond 79')
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Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
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Sinopharm vaccine explained
The Sinopharm vaccine was created using techniques that have been around for decades.
“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.
"What is left is a skeleton of the virus so it looks like a virus, but it is not live."
This is then injected into the body.
"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.
"You have to be exposed more than one time to what we call the antigen."
The vaccine should offer protection for at least months, but no one knows how long beyond that.
Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.
“Since it is inactivated, it will not last forever," she said.
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Age: 50
Profession: Electronic engineer, worked with Etisalat for the past 20 years
Hobbies: 'Anything that involves exploration, hunting, fishing, mountaineering, the sea, hiking, scuba diving, and adventure sports'
Favourite quote: 'Life is so simple, enjoy it'
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Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
Points Classification after Stage 1
1. Geraint Thomas (Britain / Team Sky) 20
2. Stefan Kueng (Switzerland / BMC Racing) 17
3. Vasil Kiryienka (Belarus / Team Sky) 15
4. Tony Martin (Germany / Katusha) 13
5. Matteo Trentin (Italy / Quick-Step) 11
6. Chris Froome (Britain / Team Sky) 10
7. Jos van Emden (Netherlands / LottoNL) 9
8. Michal Kwiatkowski (Poland / Team Sky) 8
9. Marcel Kittel (Germany / Quick-Step) 7
10. Edvald Boasson Hagen (Norway / Dimension Data) 6
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Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
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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.”
What to watch out for:
Algae, waste coffee grounds and orange peels will be used in the pavilion's walls and gangways
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The hulls will painted to make the largest Italian tricolour in the country’s history
Several pillars more than 20 metres high will support the structure
Roughly 15 tonnes of steel will be used
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