"It's been a mammoth task and things do fall through," said David Pichilingi, the co-founder of Dubai Sound City, "but we've rewritten the rule book by doing a three-day festival here. Nobody else has ever attempted to do that on a multi-stage site."
The music industry showcase took place across three days and three sweltering nights at seven venues throughout the city. The organisers New Dawn, known for putting on grass-roots events and club nights in Dubai, promised an ambitious 78 bands, artists and DJs would rock the festival, aimed at helping the city to become a regular fixture on the live circuit. Nostalgia artists such as Human League and Happy Mondays were billed next to trendier names such as Doves, The Wombats and The Futureheads - few of which had ever toured the region before.
But the organisers were forced to cancel Saturday night's performance by the headliner Echo and the Bunnymen, just one day after another top act, De La Soul, pulled out at the last minute. The next day, the Danish rap group Outlandish also failed to appear (totalling five cancellations over the weekend) and an embarrassingly small crowd turned out to see the replacement headliners Super Furry Animals close the event.
So how can Pichilingi, who also runs Dubai Sound City's sister festival, Liverpool Sound City, remain so optimistic?
"The response has been hugely positive," he said. "There were between five and six thousand people here on Friday and there's a great willingness for people who want to get on board next year."
Like the Liverpool event, Dubai Sound City tries to make money in a number of different ways. As well as selling concert tickets to the public, organisers also hope to reap advertising revenue from area sponsors, partner with local brands and agencies and sell high-price tickets to music industry delegates attending the festival's series of conferences.
Many said that these events - focusing on the music industry's future and taking place at Emirates Towers - were an immense success. Not only were the panel discussions and keynote speeches well attended, but business deals took place and many delegates want to return in 2010.
Pichilingi also said that by the end of the festival's first day, organisers had proved to potential future advertisers and partners that they were not only able to make an event such as this happen, but also draw a crowd, further increasing the chances of a follow-up festival.
Although close to full capacity during Friday night during performances by the indie bands Ocean Colour Scene and Happy Mondays (and suitably busy the previous evening, too), the festival's main event at Irish Village received some criticism. As well as the cancellations, few of the performances took place when advertised. A few of the artists themselves raised concerns about organisation.
Before the festival even started there was the problem of the slightly honky line-up, with an extreme Northern England bias, and many felt the weekend ticket price was simply too expensive.
Few complained about the actual venue, however, as the tour manager of rock band The Automatic wrote on Twitter (as Tristanisdead): "The Automatic smashed it at Sound City last night. Gigs surrounded by palm trees rock!"
Not only did the venue offer all of the necessary amenities and almost no queuing time, but most people agreed it was an incredibly pleasant place to watch live music. Filled with grassy verges, plants and places to sit, it offered plenty of unobstructed views of the stage.
Although most of the bands appearing at the event had never played in the Middle East before, they all seemed enthusiastic to be in Dubai and supportive of the festival's aims.
"It's not just about if the bands get anything out of it, but about if the area will," says Huw "Bunf" Bunford, the guitarist for the Welsh rockers Super Furry Animals, who were invited to Dubai after playing the Liverpool event. "I would imagine this festival will just get bigger and bigger."
Although some of the bands may have been forced to strip their productions somewhat for the long-distance flight, none scrimped where it mattered and there were a large number of impressive live performances. The anthemic rockers Doves delivered a thunderous performance on opening night after the impossibly energetic Futureheads warmed up the crowd.
When the 1980s electro pioneers Human League arrived, the crowd was treated to a classic set packed with hits such as Don't You Want Me and Mirror Man. Some, however, felt it was a mistake for the band to play after Doves, whose signature tune, There Goes the Fear, received the widest applause of the night.
At the festival's peak on Friday, there was a visible cloud of steam rising from the packed venue, particularly during the set by Happy Mondays. The frontman Shaun Ryder took to the stage well after midnight in dark glasses and a leather jacket, but the group's energetic dancer Bez was nowhere in sight. Organisers later said the infamous party-loving performer decided not to attend the event for personal reasons, not because he was forbidden from leaving Britain, as Ryder had joked from the stage. Despite calls from the audience of "where's Bez?" the band succeeded in whipping up a party atmosphere, particularly with its massive hit Step On.
Although many believed Saturday offered the greatest variety of artists, the festival seemed to have burnt out by the final day. By midafternoon there were only a few hundred fans at the venue, prompting artists such as the world music star Nitin Sawhney to urge seated fans to walk down to the stage. The situation improved slightly by the time the Liverpool band The Wombats arrived, however. The trio seemed to connect with the crowd more than any other band of the weekend and got the audience bouncing enthusiastically with hits such as Moving to New York and Let's Dance to Joy Division.
Super Furry Animals, Wales' most charismatic band, played a stunning set of old and new material in lieu of Echo and the Bunnymen. The rockers mixed disparate styles and constantly toyed with the crowd by holding up signs reading "Applause!", "Woah!" and "The End". Unfortunately, the late-night performance, which included the classics Demons and Rings Around the World, was only witnessed by a few hundred fans - an offence for which the festival's organisers rather than the band were mostly responsible.
Despite its failings, the most striking thing about Dubai Sound City was the number of people who were keen to see the festival succeed and return for a second year with a more comprehensive line-up of talent. Did the organisers pull it off? Just about.
ogood@thenational.ae
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.”
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The specs: 2017 Ford F-150 Raptor
Price, base / as tested Dh220,000 / Dh320,000
Engine 3.5L V6
Transmission 10-speed automatic
Power 421hp @ 6,000rpm
Torque 678Nm @ 3,750rpm
Fuel economy, combined 14.1L / 100km
Haircare resolutions 2021
From Beirut and Amman to London and now Dubai, hairstylist George Massoud has seen the same mistakes made by customers all over the world. In the chair or at-home hair care, here are the resolutions he wishes his customers would make for the year ahead.
1. 'I will seek consultation from professionals'
You may know what you want, but are you sure it’s going to suit you? Haircare professionals can tell you what will work best with your skin tone, hair texture and lifestyle.
2. 'I will tell my hairdresser when I’m not happy'
Massoud says it’s better to offer constructive criticism to work on in the future. Your hairdresser will learn, and you may discover how to communicate exactly what you want more effectively the next time.
3. ‘I will treat my hair better out of the chair’
Damage control is a big part of most hairstylists’ work right now, but it can be avoided. Steer clear of over-colouring at home, try and pursue one hair brand at a time and never, ever use a straightener on still drying hair, pleads Massoud.
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
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Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
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
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
The most expensive investment mistake you will ever make
When is the best time to start saving in a pension? The answer is simple – at the earliest possible moment. The first pound, euro, dollar or dirham you invest is the most valuable, as it has so much longer to grow in value. If you start in your twenties, it could be invested for 40 years or more, which means you have decades for compound interest to work its magic.
“You get growth upon growth upon growth, followed by more growth. The earlier you start the process, the more it will all roll up,” says Chris Davies, chartered financial planner at The Fry Group in Dubai.
This table shows how much you would have in your pension at age 65, depending on when you start and how much you pay in (it assumes your investments grow 7 per cent a year after charges and you have no other savings).
|
Age
|
$250 a month
|
$500 a month
|
$1,000 a month
|
|
25
|
$640,829
|
$1,281,657
|
$2,563,315
|
|
35
|
$303,219
|
$606,439
|
$1,212,877
|
|
45
|
$131,596
|
$263,191
|
$526,382
|
|
55
|
$44,351
|
$88,702
|
$177,403
|
West Indies v India - Third ODI
India 251-4 (50 overs)
Dhoni (78*), Rahane (72), Jadhav (40)
Cummins (2-56), Bishoo (1-38)
West Indies 158 (38.1 overs)
Mohammed (40), Powell (30), Hope (24)
Ashwin (3-28), Yadav (3-41), Pandya (2-32)
India won by 93 runs
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
The End of Loneliness
Benedict Wells
Translated from the German by Charlotte Collins
Sceptre