From the monster movie Cloverfield to the maddening television series Lost, a JJ Abrams project always possesses that most valuable of cultural currencies: buzz.
Super 8, his next big zombie movie, has caused such excitement it even had a promotional campaign for the trailer - premiered during the biggest sporting event in the American calendar, the Super Bowl. So when it was announced this month that Abrams was now turning his hand to novels, it was inevitable that we'd get something more than a dry press release.
Typically, the excitement began before a book had been even been printed. Major publishers were each sent unique proofs and informed that "a package should be dropping through your door right now". Each one was slightly different in order to guard against leaks, so we know next to nothing about the actual story. And at the London Book Fair, Canongate was so impressed that it acquired the UK and Commonwealth rights - but even it seemed sucked in by the hype.
Jamie Byng, Canongate's managing director, not usually prone to such hyperbole, said at the announcement that "this book looks set to be one of the most ground-breaking, bold and innovative pieces of storytelling ever." Yes, ever.
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Although you wouldn't put it past Abrams to shake up the publishing world in some way. Byng was right when he said that the book "is going to be a major international event." That's how all Abrams projects start out - he is a master of building anticipation and buzz, sometimes to the detriment of the finished product. Lost was admittedly fantastic television, but did it really need six series to tell us what actually happened onboard the fated Oceanic 815 flight?
The reason it lasted so long is that Abrams and his cohorts cleverly built intrigue and a sense of fan-ownership into the online campaign. It was a trick they repeated with Cloverfield, the trailer of which was a viral hit despite the title of the film being wholly absent. The film itself? A perfectly enjoyable monster movie with some interesting camera work, but not a lasting classic.
But Abrams is clever. Like Lost (co-created by Jeffrey Lieber and Damon Lindelof) and Cloverfield (written by Drew Goddard and directed by Matt Reeves), he's not about to sit down and fashion this book all by himself. It will be "based on an idea" by Abrams - the actual writing will be undertaken by Doug Dorst, most famous for his award-winning fantasy novel Alive In Necropolis.
Lost, though, did have characters named after the most literary of philosophers (Locke, Rousseau, Hume) and there was even a tie-in novel, Bad Twin, supposedly written by one of the passengers on board the doomed flight, Gary Troup. So, even if Abrams doesn't actually write this eagerly awaited novel, he does at least have some literary background.
One hopes it will be useful, because filmmaker-to-novelist is not exactly a well-worn career path. The Hollywood legend and multi-Oscar-winning director Elia Kazan, most famous for 1955's imperious On the Waterfront, decided in 1963 that "the novel is the greatest art form". Sales of his books, at the time, suggested that such a move had been a good idea. But his four novels have hardly stood the test of time - unsurprisingly, since Acts Of Love was essentially a rather grubby tale of a Greek tyrant's desire for his beautiful daughter-in-law.
The suspicion that the literary efforts of filmmakers might be just a little throw-away is confirmed by the risible Fan-Tan. Written in 1984 by Donald Cammell, the cult director of Performance, it came with "editorial advice" from Marlon Brando. Since Cammell also wrote Performance, one of the classics of 1960s cinema, big things were expected. But it was an innuendo-laden, cliché-ridden adventure on the high seas, which, unsurprisingly, didn't get a proper release until both parties were, er, dead.
Perhaps Abrams would be wise to tailor his stories to children. The most spectacularly successful director-turned-writer is without question Luc Besson. Yes, it was perhaps a surprise that the man responsible for the fantastical The Fifth Element or the ultra-violent Leon didn't write science fiction or a thriller, but his series of books featuring the adventures of 10-year-old Arthur have been a spectacular, best-selling success across the world.
In Besson's case, he was so bored waiting for his production company to film his initial idea that he just wrote the books. It did actually end up as a movie - 2006's Arthur and the Invisibles - but the fact that it's also a video game and a theme-park ride certainly confirms that Besson's writing captured the imagination.
As for Abrams, all we know about the forthcoming book is that it will be published next year, that there might be a love story taking place in the actual margin of the book, and that it might also contain a novel within a novel. We'll probably be drip-fed snippets of information over the next 12 months, but nothing more. Which is, after all, just the way Abrams likes it.
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.”
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
MATCH INFO
What: Brazil v South Korea
When: Tonight, 5.30pm
Where: Mohamed bin Zayed Stadium, Abu Dhabi
Tickets: www.ticketmaster.ae
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
The specs
Engine: 6.2-litre V8
Transmission: ten-speed
Power: 420bhp
Torque: 624Nm
Price: Dh325,125
On sale: Now
Profile of Hala Insurance
Date Started: September 2018
Founders: Walid and Karim Dib
Based: Abu Dhabi
Employees: Nine
Amount raised: $1.2 million
Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers
Killing of Qassem Suleimani
Killing of Qassem Suleimani
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Spain drain
CONVICTED
Lionel Messi Found guilty in 2016 of of using companies in Belize, Britain, Switzerland and Uruguay to avoid paying €4.1m in taxes on income earned from image rights. Sentenced to 21 months in jail and fined more than €2m. But prison sentence has since been replaced by another fine of €252,000.
Javier Mascherano Accepted one-year suspended sentence in January 2016 for tax fraud after found guilty of failing to pay €1.5m in taxes for 2011 and 2012. Unlike Messi he avoided trial by admitting to tax evasion.
Angel di Maria Argentina and Paris Saint-Germain star Angel di Maria was fined and given a 16-month prison sentence for tax fraud during his time at Real Madrid. But he is unlikely to go to prison as is normal in Spain for first offences for non-violent crimes carrying sentence of less than two years.
SUSPECTED
Cristiano Ronaldo Real Madrid's star striker, accused of evading €14.7m in taxes, appears in court on Monday. Portuguese star faces four charges of fraud through offshore companies.
Jose Mourinho Manchester United manager accused of evading €3.3m in tax in 2011 and 2012, during time in charge at Real Madrid. But Gestifute, which represents him, says he has already settled matter with Spanish tax authorities.
Samuel Eto'o In November 2016, Spanish prosecutors sought jail sentence of 10 years and fines totalling €18m for Cameroonian, accused of failing to pay €3.9m in taxes during time at Barcelona from 2004 to 2009.
Radamel Falcao Colombian striker Falcao suspected of failing to correctly declare €7.4m of income earned from image rights between 2012 and 2013 while at Atletico Madrid. He has since paid €8.2m to Spanish tax authorities, a sum that includes interest on the original amount.
Jorge Mendes Portuguese super-agent put under official investigation last month by Spanish court investigating alleged tax evasion by Falcao, a client of his. He defended himself, telling closed-door hearing he "never" advised players in tax matters.
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
