You'd have been hard-pressed to find a more joyous crowd in London on Friday than the one that gathered at Rich Mix in Shoreditch to watch the London debut of Love and Revenge.
From the first electrified notes struck by Rayess Bek, a Lebanese-born rapper and musician, this was a swirling, shaking tour of the 1940s golden age of Egyptian cinema, set to a very modern beat.
Skilful video collages by Randa Mirza (La Mirza) of scenes of Cairo's Studio Misr moved an audience that encompassed teens to some who had watched the films on their first release.
This open door to a bygone era of Egypt was a fitting event for the annual Shubbak Festival’s eclectic programme, which strives to offer a window on contemporary Arabic culture by celebrating the region’s seductive silver screen against live remixes of classic songs.
The set revisits the popular songs of stars such as Samia Gamal, Tahi Carioca and singing idols Leila Mourad and Farid El Attrache. It evokes an age of glamour, mystique and intrigue; where strong men and women are attracted to each other, where the sepia-tinged nostalgia of the black-and-white years segue into the technicolour promises of the 1960s.
With Bek performing like a concert pianist at his deck of electronic wizardry, Mirza choreographing the visuals, Julien Perraudeau on keyboards and the electric oud of Mehdi Haddab filling out the incredible live sound, the group seemed to be having as much fun playing as the audience were watching.
The crowd was moved through a tableau of nostalgia, awe and the occasional shock. As black-and-white images of a dancer’s unfurling arms cut to an Arabian “Bond girl” running down a beach in a bikini, the audience unified in gasps and cheers.
Love and Revenge is the title of a 1944 film which provides some of the visuals for this breathtaking collage, but is also a wider commentary on the priorities of life. Each scene chosen is as carefully managed as a gallery show, and the interaction with the thumping beats and live performed music is intricately composed.
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The hunger of young audiences to see a vision of the past which doesn’t necessarily conform to what we are told of history comes into play at events such as these. As Bek observed himself, the sexism of the 1940s and 1950s was the procession of beauties in bikinis; that has now changed.
"At that time sexism was about seeing a woman in a bikini, because that was the fantasy that men had, and today in the Arabic world sexism is a veiled woman. So the question is what is the form of today's sexism... we are raising it in a very light way, a very funny way, because I don't think we have answers to these questions," he told The National last week.
The different reactions to the set they play has struck the band in the past. "When we play in the Arab world, the youngest generation, they don't know those songs, they are not aware that those songs were huge hits in the Arab world, so they rediscover Asmahan [the actress in the original 1944 film Love and Revenge], all those great, great musicians and artists with our show," Bek said.
“And when we play in Europe, people have the idea that those songs are brand new; I mean they know it’s remixes, but they have the feeling that is was recorded yesterday with some effects on the voice, and that’s very interesting, to see people dancing along to a song that was written in the 1940s.”
The powerful stares of strong and beautiful Egyptian women such as Gamal sent trembles through the mixed audience as the stars of the silver screen reach out to a new, mediated crowd of fans. Their eyes scorn lovers, many with extravagant and wonderful moustaches, and they observe us curiously and disdainfully across history and time through huge puffs of cigarette smoke.
After Bek's casual invitation to the packed house to dance on stage for the show's final number, a whirling mass of exuberant concertgoers joined the four-piece in bringing this jubilant event to a close. "The crowd was amazing," Bek said.
The two-week-long Shubbak Festival wraps up on July 16.
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.”
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
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The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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Day 4, Abu Dhabi Test: At a glance
Moment of the day Not much was expected – on Sunday or ever – of Hasan Ali as a batsman. And yet he lit up the late overs of the Pakistan innings with a happy cameo of 29 from 25 balls. The highlight was when he launched a six right on top of the netting above the Pakistan players’ viewing area. He was out next ball.
Stat of the day – 1,358 There were 1,358 days between Haris Sohail’s previous first-class match and his Test debut for Pakistan. The lack of practice in the multi-day format did not show, though, as the left-hander made an assured half-century to guide his side through a potentially damaging collapse.
The verdict As is the fashion of Test matches in this country, the draw feels like a dead-cert, before a clatter of wickets on the fourth afternoon puts either side on red alert. With Yasir Shah finding prodigious turn now, Pakistan will be confident of bowling Sri Lanka out. Whether they have enough time to do so and chase the runs required remains to be seen.
