Sound-bite factory in full swing



At 10am on the red carpet on the morning before the Oscars, the camera crews were out in force. Several hundred fans lucky enough to get sideline seats amused themselves by whooping loudly at the behest of the presenters milling around on the carpet as they shot pre-arrivals footage. The atmosphere was heady. There were also wheelbarrows and ladders as workmen put the final touches to the carpet and its setting, which included a number of giant Oscar statues and almost as many security guards.
Men in jeans and baseball caps carried pots of flowers and put the last hedges in place to border the famous carpet, which just a few days earlier had lain rolled up under plastic sheets. Underneath lay the star-spangled Walk of Fame on Hollywood Boulevard, which had been transformed into the glamorous approach to the Kodak Theatre, where the Academy Awards take place each year. Not so obvious to those watching from around the world was the fact that the theatre is situated in an otherwise bland shopping mall known as the Hollywood and Highland Complex.
Still, on Sunday the atmosphere was jubilant for those who could get beyond the barriers and rows of police cars parked in a nearby sports field, standing by to protect one of the largest turnouts of Hollywood stars of the year. George Clooney came with Elisabetta Canalis, Quentin Tarantino posed gamely with Diane Kruger, and the Best Supporting Actress winner-to-be Mo'Nique arrived with Sidney Hicks. Peter Sarsgaard came with Maggie Gyllenhaal and Nicole Richie with Joel Madden. The Best Actor nominee Matt Damon was accompanied by his wife Luciana. Christopher Plummer posed with Helen Mirren. The Up in the Air director Jason Reiteman arrived with Michele Lee.
After the arrivals, reporters fled through the maze-like floors of the shopping complex and into the Hollywood Ballroom of the Renaissance Hollywood Hotel, where later the winners would come through to meet the press backstage. Journalists had to pass through three metal detectors before gaining access to the ballroom and the waiting cheese and crudités. Once there, they sat elbow-to-elbow bashing out their stories. Backstage, the wait was even longer than it took for the show to begin out front.
Then winners began to filter through. Ryan Bingham who, with T Bone Burnett, won the Best Original Song award for The Weary Kind from Crazy Heart, stood on the little backstage platform adorned with mini-Oscars and took questions on the differences between writing a song for film and a "regular" song. "It is a little different because you already had a story," he explained. "I had never done it before, but reading the script and describing what goes on with the story and describing the characters - kind of just thinking who they were and where they were going-"
Geoffrey Fletcher's win for Best-Adapted Screenplay for Precious was greeted with enthusiasm by reporters welcoming one of the night's few surprises. "I don't know what to say. This is for everyone who works on a dream every day," said Fletcher. Sandy Powell, the winner of Achievement in Costume Design for The Young Victoria, proved as underwhelmed backstage as she had been out front ("I've already got two of these," began her acceptance speech). When was asked what it felt like to be the first British winner of the night, she told reporters: "Of course, I'm thrilled to be a winner at all, but a British winner, yes, I'm happy for the Brits. But you know what? Normally, they don't mention the costume design. They just mention the actors- so let's see what will get reported."
Mo'Nique, speaking about her Oscar for Best Supporting Actress, addressed the first reporter as "hey, sugar". Asked if her win might encourage her now to describe herself as an actress rather than a stand-up comedian, she said: "I'm a stand-up comedian who won an Oscar- Oh, baby. I did it. Me." Michael Giacchino, honoured in the Achievement in Music Written for Motion Pictures (Original Song) category for Up, joked: "Up for auction. One Oscar. Do I hear $500? Just kidding. Go ahead."
There was little room for banter. But Kathryn Bigelow's becoming the first woman to win a directing Oscar for The Hurt Locker, which also took home Best Picture, and the most prizes of the night, put smiles on faces. Asked if she would now be willing to refer to herself as a female director, something that she has been avoiding throughout the awards season, she said: "Well first of all, I hope I'm the first of many. I'd just love to think of myself as a filmmaker and I long for the day when a modifier can be a moot point. But I'm grateful if I can inspire some young, intrepid tenacious male or female filmmaker and have them feel that the impossible is possible, and never give up on your dream."

ENGLAND SQUAD

Goalkeepers: Jack Butland, Jordan Pickford, Nick Pope 
Defenders: John Stones, Harry Maguire, Phil Jones, Kyle Walker, Kieran Trippier, Gary Cahill, Ashley Young, Danny Rose, Trent Alexander-Arnold 
Midfielders: Eric Dier, Jordan Henderson, Dele Alli, Jesse Lingard, Raheem Sterling, Ruben Loftus-Cheek, Fabian Delph 
Forwards: Harry Kane, Jamie Vardy, Marcus Rashford, Danny Welbeck

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.

LEADERBOARD
%3Cp%3E-19%20T%20Fleetwood%20(Eng)%3B%20-18%20R%20McIlroy%20(NI)%2C%20T%20Lawrence%20(SA)%3B%20-16%20J%20Smith%3B%20-15%20F%20Molinari%20(Ita)%3B%20-14%20Z%20Lombard%20(SA)%2C%20S%20Crocker%20(US)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESelected%3A%20%3C%2Fstrong%3E-11%20A%20Meronk%20(Pol)%3B%20-10%20E%20Ferguson%20(Sco)%3B%20-8%20R%20Fox%20(NZ)%20-7%20L%20Donald%20(Eng)%3B%20-5%20T%20McKibbin%20(NI)%2C%20N%20Hoejgaard%20(Den)%3C%2Fp%3E%0A
NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Silkhaus%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Aahan%20Bhojani%20and%20Ashmin%20Varma%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Property%20technology%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%247.75%20million%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Nuwa%20Capital%2C%20VentureSouq%2C%20Nordstar%2C%20Global%20Founders%20Capital%2C%20Yuj%20Ventures%20and%20Whiteboard%20Capital%3C%2Fp%3E%0A
Brief scores:

Manchester City 3

Aguero 1', 44', 61'

Arsenal ​​​​​1

Koscielny 11'

Man of the match: Sergio Aguero (Manchester City)

Thor: Ragnarok

Dir: Taika Waititi

Starring: Chris Hemsworth, Tom Hiddleston, Cate Blanchett, Jeff Goldblum, Mark Ruffalo, Tessa Thompson

Four stars

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.”