Robert De Niro opens Sarajevo Film Festival
On Friday, Robert De Niro opened the Sarajevo Film Festival, which in turn honoured the star with a lifetime achievement award. The 72-year-old actor, who has starred in more than 100 films, received the event's Heart of Sarajevo award at an open-air viewing of Taxi Driver, one of his earliest films. De Niro earned an Oscar nomination for the 1976 film, directed by Martin Scorsese. More than 200 films will be screened at the 22nd edition of the festival, which runs until August 20 in the Bosnian capital. Created as an "act of resistance" during the 1992-95 siege of Sarajevo, the festival has regularly attracted big-name guests such as Angelina Jolie, Brad Pitt, Juliette Binoche and Jeremy Irons. Eight films will compete for the best film prize, which will be awarded by a jury led by Palestinian filmmaker Elia Suleiman. – AFP
Bon Jovi announce album without Richie Sambora
Bon Jovi have revealed that their new album – the first in the group's three-decade history without guitarist Richie Sambora – will be released on October 21. This House is Not for Sale is the 14th studio album from the New Jersey rockers and the first since the seemingly amicable departure in 2013 of lead guitarist Sambora, a long-time fixture in the group along with frontman Jon Bon Jovi. Sambora said he wanted to devote more time to his family rather than embark on another lengthy arena tour for which Bon Jovi is famous. Sambora last year told the site Ultimate Guitar Rock that his decision was also about music, as he felt "starved" for more improvisation and innovation after playing Bon Jovi's hits for so long. – AFP
New Rogue One trailer features Darth Vader
The second trailer for Rogue One: A Star Wars Story has been released, giving fans the first new – brief – footage of Darth Vader in more than a decade. The 135-second teaser also includes sweeping space-scapes, Imperial battleships, laser fire and Forest Whitaker. The highlight is a one-second cameo by Darth Vader, his back to the camera. It is the first glimpse of the character since the release of Revenge of the Sith, the third of George Lucas's prequel movies, in 2005. The first stand-alone Star Wars story, Rogue One is set just before 1977's A New Hope, the first film in the series. It stars Felicity Jones, Mads Mikkelsen and Whitaker and tells the story of the mission to steal the plans for the first Death Star. The film is due for release on December 16 in the united States. – AFP
US defense department says no to Pokemon Go
United States Department of Defense officials have ordered employees not to download Pokemon Go onto government-issued smartphones. “You can imagine a number of reasons [why] that wouldn’t necessarily be a prudent thing to do,” said Pentagon deputy press secretary Gordon Trowbridge. “Aside from any security concerns, I think taxpayers would appreciate government phones being used for government business.” Pokemon Go is an augmented-reality app through which users hunt digitised creatures such as the furry yellow Pikachu, which have been scattered around their location. The game has become a global craze, with crowds of players dashing to locations to try to snag rare characters. Several military installations have warned troops about the possible perils of playing Pokemon Go on bases, including near runways. – AFP
Cricketer Dhoni snubs press at trailer launch
Cricketer Mahendra Singh Dhoni left the trailer launch of the film M S Dhoni: The Untold Story – a film based on his life story – without speaking to the media. When journalists asked director Neeraj Pandey the reason for the sportsman's quick exit, he said: "That's not my call, as you would understand, and it's not my place to answer on his behalf also. He is an individual who has his own choices. I don't know what the reason is." In a packed hall of fans and media, Dhoni did answer some questions posed by fans, but then left immediately. The film, starring Sushant Singh Rajput as the captain of the Indian cricket team, also features Anupam Kher, Bhumika Chawla, Rajesh Sharma and Kiara Advani, and is due for release in India on September 30. – IANS
Funerals held for Prince
Family members and close friends gathered at a Minneapolis church on Friday for a memorial to Prince. Another private service was held on Saturday at the musician’s Paisley Park home. A relative said the family is doing its best to preserve Prince’s image, as others have come forward with false stories about the superstar. Prince died on April 21 of an accidental drug overdose at the age of 57. A public tribute to the singer and musician is scheduled for October at US Bank Stadium in Minneapolis. – AP
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
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.”
'Nope'
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The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
From Europe to the Middle East, economic success brings wealth - and lifestyle diseases
A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.
One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait, Qatar and Oman – and second on the list in Bahrain.
In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.
The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.
And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
RESULTS
5pm: Maiden (PA) Dh80,000 1,200m
Winner: Ferdous, Szczepan Mazur (jockey), Ibrahim Al Hadhrami (trainer)
5.30pm: Arabian Triple Crown Round-3 Group 3 (PA) Dh300,000 2,400m
Winner: Basmah, Fabrice Veron, Eric Lemartinel
6pm: UAE Arabian Derby Prestige (PA) Dh150,000 2,200m
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami
6.30pm: Emirates Championship Group 1 (PA) Dh1,000,000 2,200m
Winner: Somoud, Patrick Cosgrave, Ahmed Al Mehairbi
7pm: Abu Dhabi Championship Group 3 (TB) Dh380,000 2,200m
Winner: GM Hopkins, Patrick Cosgrave, Jaber Ramadhan
7.30pm: Wathba Stallions Cup Conditions (PA) Dh70,000 1,600m
Winner: AF Al Bairaq, Tadhg O’Shea, Ernst Oertel
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Brief scores:
Toss: Northern Warriors, elected to field first
Bengal Tigers 130-1 (10 ov)
Roy 60 not out, Rutherford 47 not out
Northern Warriors 94-7 (10 ov)
Simmons 44; Yamin 4-4
