The London Book Fair is a global marketplace for rights negotiation and the sale and distribution of content across print, audio, TV, film and digital channels.
The London Book Fair is a global marketplace for rights negotiation and the sale and distribution of content across print, audio, TV, film and digital channels.

Fair deals in London



Spring has arrived in London and with it, swathes of bookish professionals made their annual pilgrimage to Earl's Court. For TS Eliot, April may have been the cruellest month, but there were no signs of decline at the London Book Fair. The international publishing elite gathered for the three-day event, which has become one of industry's most important trade fairs. It is the global marketplace for rights negotiation and the sale and distribution of content across print, audio, TV, film and digital channels and brings together 23,000 members of the global publishing community. This is a place where authors can meet publishers; publishers, distributors; distributors, retailers. As Kelly Pike of Saqi books said: "It's one of the best advertising and marketing opportunities in the world."

It's difficult to know what to expect at such an event. There is a distinct element of literary celebration, opportunities to meet famous authors and chat about favourite books and even a look at the innovations shaping the publishing world of the future, including the UK debut of the Espresso book machine - a vending-style contraption that prints books while you wait. For all the fun and novelty, though, the fair is firmly centred on business. Inside, the exhibition floor is littered with stalls and busy chatter fills the vast expanses as publishers, authors and distributors vie for lucrative contracts. Figures are bandied around, hands shaken, acquaintances renewed and friendships formed. Books deals are made in boardrooms and corridors.

It's exciting, urgent and overwhelming. Fittingly, India was the focus country for the fair this year. The organisers presented an impressive range of authors, including Vikram Seth and the Nobel Prize-winner Amartya Sen. Being the focus gives the kind of publicity that money can't buy. The British Council provides support at every level: organising meetings, seminars and networking events. Last year's fair showcased the Arab world but this year, exhibitors aimed to capitalise on the recent wave in literature from the region.

The Arab presence demonstrated both an increasing literary awareness within the region and a growing international interest. The buzz was linked in no small part to the obvious potential of this emerging market. "The statistics speak for themselves - 24 Arab countries, a population of 340 million and 422 million Arabic speakers living outside of the region," said Bachar Chebaro, the owner of Arab Scientific Publishers and the secretary general of the Arab Publishers Association.

In the current economic climate, western publishers are increasingly tempted by this largely untapped market. Bloomsbury and Penguin have already announced plans to expand into the Gulf. "I was lucky enough to visit the Cairo Book Fair as part of the British Council delegation," Jonathan Nowell, President of Nielsen Books said. "When I came back to the UK my brain was bursting with ideas. There is so much opportunity for international publishers and, most importantly, for Arab publishers, to meet the enormous consumer demand for education and entertainment that books can deliver."

The London Book Fair enables participants to find out more about the specificities of international consumer demand and genre preference. According to Dr Ali Bin Tamim, the project manager of Kalima, an organisation which aims to make western texts accessible to Arab audiences through translation, Emiratis gravitate toward "novels, autobiographies, science books, illustrated and architectural books and books about Islamic history".

It is these types of publications that Kalima is seeking to promote in the Arab world, with 150 texts already translated. "We are encouraging Arabic publishers to forge links with foreign firms and also to support the work of translators." An attempt is being made to keep Arab readers up to date with western bestsellers and Kalima will shortly be publishing Barack Obama's autobiography in Arabic. "The challenge here in London is to find a great book and a great publisher that can reach as many people as possible," Tamim said.

For Irum Fawad of Kitab, the organisers of the Abu Dhabi International Book Fair, a presence at the London event is a necessity. "It helps us to improve our visibility, promotes networking opportunities and encourages professionalism", she said. "Our 20th book fair will be held next year and it will be more international than ever before because it is now seen as a credible forum." "Book fairs in the Arab World are generally focused on selling books" adds Claudia Kaiser, the general manager of Kitab. "In Abu Dhabi, we are changing this by using the event to develop business contacts and to offer professional training. In 2008, we hosted 480 exhibitors hailing from 42 countries. This year we had 637 exhibitors from 53 countries. We also included a targeted matchmaking event where people could register in order to meet Arab or international publishers. That was a big breakthrough," she said.

Ahmed Al-Amri, the director of the Sharjah World Book Fair, the first representative from the UAE to begin exhibiting at the London Book Fair four years ago, also commented on the positive impact that inclusion in the London event has had on the domestic book fair. "A great deal of interest has been generated here and it has helped to boost success back home," he said. "Last year, the Sharjah fair welcomed 400,000 people - eight per cent of the population of the UAE - and reached sales of around $28 million (Dh103m). That is a lot of money in the world of books. People understand that in business, the figures don't lie.

"In particular, visitors here in London have been excited by the Knowledge without Borders government initiative. It is designed to encourage parents and children to spend more time reading by providing a library of 50 Arabic books to 24,000 families in Sharjah." The project is part of a wider educational programme to disseminate Arabic texts domestically and internationally. Literature is not geographically bound and texts do not operate or exist in isolation, but are instead part of a wider body of sources and quotations that form links with other nations and other eras. The Arab initiatives recognise the value of intertextuality while giving native writers a platform to share their work and enter it into this broader literary community.

"Much has been achieved since last year," said the writer and presenter Maya Jaggi. "The Arab World now offers a number of prestigious awards that stimulate both reading and translation in the Arab world. The Sheikh Zayed Book Award is now in its third year and the Egyptian author Bahaa Taher, the first winner of the International Prize for Arabic Fiction, held in association with the UK's Booker Prize, will have his novel Sunset Oasis published in the UK in September. Clearly there is huge potential in the 24 countries."

Obstacles, however, still remain. "We have at least 70 million illiterate people in the Arab world," Chebaro said. "The literacy rate means that more educational programmes are needed." In addition, the Arab world still lacks a viable distribution network and proper marketing for books. A failure to collate statistical information means that there is insufficient data regarding what is being published. The absence of literary agents and a paucity of first-rate translators also threaten to disrupt the progress being made in the Arab book industry.

"We need to create a more efficient supply chain in the Arab world" Nowell added. "We are working towards a situation whereby the consumer is informed about what is available, they can find information on these products and can easily make a timely purchase decision to buy what is available. We need to rely more on print on demand in the Arab World. The technology now gives us the opportunity to accelerate the wider dissemination of books in the Arab World without having to go through traditional distribution channels."

"We have made progress and we must continue to co-operate and share our experiences across the region," said Kaiser. "There is an increasing understanding that to move forward we have to work together. We are not in an ideal world yet, but we are getting there."

MATCH INFO

Bangla Tigers 108-5 (10 ovs)

Ingram 37, Rossouw 26, Pretorius 2-10

Deccan Gladiators 109-4 (9.5 ovs)

Watson 41, Devcich 27, Wiese 2-15

Gladiators win by six wickets

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2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

DUBAI%20BLING%3A%20EPISODE%201
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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.”

((Disclaimer))

The Liechtensteinische Landesbank AG (“Bank”) assumes no liability or guarantee for the accuracy, balance, or completeness of the information in this publication. The content may change at any time due to given circumstances, and the Liechtensteinische Landesbank AG is under no obligation to update information once it has been published. This publication is intended for information purposes only and does not constitute an offer, a recommendation or an invitation by, or on behalf of, Liechtensteinische Landesbank (DIFC Branch), Liechtensteinische Landesbank AG, or any of its group affiliates to make any investments or obtain services. This publication has not been reviewed, disapproved or approved by the United Arab Emirates (“UAE”) Central Bank, Dubai Financial Services Authority (“DFSA”) or any other relevant licensing authorities in the UAE. It may not be relied upon by or distributed to retail clients. Liechtensteinische Landesbank (DIFC Branch) is regulated by the DFSA and this advertorial is intended for Professional Clients (as defined by the DFSA) who have sufficient financial experience and understanding of financial markets, products or transactions and any associated risks.

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

While you're here
The design

The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.

More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.

The architecture will control light sources to provide a highly insulated and airtight building.

The forecourt is protected from the sun and the plants will refresh the inner spaces.

A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.

Energy-saving equipment will be used for all lighting and projections.

Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.

Some elements of the metal frame can be prefabricated in a factory.

 From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.

Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019. 

Construction of the pavilion will take 17 months from May 2019 to September 2020.

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially

A Cat, A Man, and Two Women
Junichiro
Tamizaki
Translated by Paul McCarthy
Daunt Books 

Fixtures

Tuesday - 5.15pm: Team Lebanon v Alger Corsaires; 8.30pm: Abu Dhabi Storms v Pharaohs

Wednesday - 5.15pm: Pharaohs v Carthage Eagles; 8.30pm: Alger Corsaires v Abu Dhabi Storms

Thursday - 4.30pm: Team Lebanon v Pharaohs; 7.30pm: Abu Dhabi Storms v Carthage Eagles

Friday - 4.30pm: Pharaohs v Alger Corsaires; 7.30pm: Carthage Eagles v Team Lebanon

Saturday - 4.30pm: Carthage Eagles v Alger Corsaires; 7.30pm: Abu Dhabi Storms v Team Lebanon