The Karlovy Vary International Film Festival has its own special place among the summer's cinematic events.
What glitters in this Bohemian town with its changeable weather is the Czech garnet, which you can find in abundance along its charming streets. That said, there are also red carpets and paparazzi. The American character actor Burt Young (Rocky, Chinatown) was on hand for the screening of Win Win, featuring Paul Giamatti, in which Young has a role. And John Turturro is also expected before Saturday's close, with his wife, Katherine Borowitz. They co-star in a drama inspired by the late Theo van Gogh's 1994 film 06, which was first remade by Turturro's close friend Steve Buscemi.
Turturro is to receive an award from the festival at the end of this week. Also here is Martin Donovan, the leading man of many a film by Hal Hartley, who will premiere Collaborator, his directorial debut.
So far, the actor making the biggest splash has been Judi Dench, who represented the cast of Joji Fukunaga's Jane Eyre, the opening night film. Speaking at a packed press conference, the veteran performer said she had originally hoped to be a set designer in the theatre, but thought "I'll never be good enough at it". Instead, she said, she followed her brother into acting on stage. "My husband [Michael Williams] and I used to call Shakespeare 'the man who paid the rent', because for many years he was."
Classics were all over the programme this year, and not all of them were by such names as William Shakespeare and Charlotte Brontë. One of the festival's emotional moments was the screening of a restored 1967 cinematic tour de force adapted from a 1931 novel - untranslatable, Czechs will warn you - by Vladislav Vancura, hardly a household word anywhere but Prague. The Czech screen epic Marketa Lazarová was released in the same year that Andrei Tarkovsky unveiled his classic Andrei Rublev, with a smaller budget and far less attention. It is a film without international stars, unless you include the then-young actress Magda Vasaryova, who since the collapse of the Soviet Union has served as a Slovak ambassador and a member of the Slovak parliament. Forty-four years later, the masterpiece by the director Frantisek Vlacil remains the country's most popular film. Now it's been restored digitally for the rest of the world to rediscover.
The story of this saga, set in 13th-century Bohemia, is an endless battle of revenge among warring clans - one pagan, one Christian. Marketa Lazarova, the young daughter of a landowner, is seized as tribute. She falls in love with her captor as war rages around them in the rugged landscape, all filmed in a vivid black and white. The luminous print shown in Karlovy Vary argues eloquently for more digital restorations.
The panoramic and poetic film's revival isn't just a triumph for cinephiles. Even the festival sponsors and politicians stayed in their seats when the lights went down, and remained there for almost three hours - rare at a festival known for its parties.
Filming Marketa Lazarová would have been tough with today's technology, but in the Czechoslovakia of the 1960s the result must have looked like a miraculously detailed canvas, filled with character actors whom the Czech public knew back then. No near-perfect print has been available for decades, so audiences haven't been able to see their best film in its best condition. Watching it, you witness the kind of grand epic that would cost Hollywood several hundred million to make today. Stylistically, the film is a meeting of East and West. The Russian influences of Eisenstein and Tarkovsky are clear; so is the imprint of Ingmar Bergman. Vlacil's masterpiece came at a moment when his peers were turning out light, witty satires that got them into trouble with the Czech police. Only a year later, following the suppression of the Prague Spring by Soviet tanks, most of that cinematic generation either chose exile or found few outlets for their work.
Highlights of the Karlovy Vary International Film Festival, which finishes on Saturday, include:
Sunflower Hour
If the Karlovy Vary festival has another strength, it is satire, although this year the satirically minded Czechs aren’t leading the way. One surprise is Sunflower Hour, a no-budget mockumentary from Canada in the festival’s Forum of Independents section, which showcases films that strive for edginess and irreverence. Sunflower Hour fits the bill, as a parody of a “making of…” documentary about aspirant puppeteers for a children’s television show. These contestants are quirky rivals, but also ruthless competitors. The newcomer Aaron Houston, of Vancouver, directing his own script, draws on the work of Christopher Guest to explore the comic insincerity of “wholesome” television.
Holidays by the Sea
In this year's competition, the French comedy Holidays by the Sea took its own stab at reconnecting with modern classic roots. The film skewers a French tradition – the summer holiday of the ordinary family – with the affectionate wryness of the actor/director Jacques Tati (1907-82), who depicted his homeland as a place of loud children, sharp elbows and traffic jams.
Language won't be an obstacle for audiences that don't speak French. Holidays by the Sea isn't a silent film, but its "language" is a slapstick vocabulary of squeaks, grunts and scrapes. Instead of haute cuisine, we see holidaymakers gorging through tables piled with lobsters. Instead of haute couture, we are treated to the unflattering summer costume of the middle-aged, middle-class – a bit like transporting the subway to the seaside.
Without words, Maria de Medeiros and the stalwart character actor Dominique Pinon lead the ensemble cast into a classic mode of French performance – pantomime. The director Pascal Rabate comes from the world of comic books (an obsession with the French, who are building a comics museum). He replaces glamour with warmhearted, witty grotesquery. Holidays by the Sea won't help the French tourism industry but, for better or for worse, you feel as if you're touching its characters.
The British Guide to Showing Off
This film documents a satirical British beauty contest that has become an institution, Alternative Miss World, created by the polymath artist Andrew Logan in 1972. While not a household name, Logan, 66, has an ardent following in the worlds of music and fashion. His shows – nine in all – have inspired other artists since they began as gatherings organised by Logan and his brothers. One look at the designs of the late Alexander McQueen confirms Logan’s influence, which dates to before the punk era. David Bowie, Brian Eno and the fashion designer Vivienne Westwood were early collaborators. Logan, who has never made a penny on his event, was sued by a real Miss Universe for usurping the value of that pageant’s brand. A British judge took one look at Logan’s over-the-top parody and threw the case out.
PROFILE OF STARZPLAY
Date started: 2014
Founders: Maaz Sheikh, Danny Bates
Based: Dubai, UAE
Sector: Entertainment/Streaming Video On Demand
Number of employees: 125
Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners
In numbers
1,000 tonnes of waste collected daily:
- 800 tonnes converted into alternative fuel
- 150 tonnes to landfill
- 50 tonnes sold as scrap metal
800 tonnes of RDF replaces 500 tonnes of coal
Two conveyor lines treat more than 350,000 tonnes of waste per year
25 staff on site
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
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French Touch
Carla Bruni
(Verve)
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
A cryptocurrency primer for beginners
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COMPANY%20PROFILE
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MO
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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
RESULT
Los Angeles Galaxy 2 Manchester United 5
Galaxy: Dos Santos (79', 88')
United: Rashford (2', 20'), Fellaini (26'), Mkhitaryan (67'), Martial (72')
How%20to%20avoid%20getting%20scammed
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match info
Maratha Arabians 138-2
C Lynn 91*, A Lyth 20, B Laughlin 1-15
Team Abu Dhabi 114-3
L Wright 40*, L Malinga 0-13, M McClenaghan 1-17
Maratha Arabians won by 24 runs
Company%20profile%20
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EYodawy%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Egypt%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EKarim%20Khashaba%2C%20Sherief%20El-Feky%20and%20Yasser%20AbdelGawad%3Cstrong%3E%3Cbr%3ESector%3A%20%3C%2Fstrong%3EHealthTech%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3E%2424.5%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EAlgebra%20Ventures%2C%20Global%20Ventures%2C%20MEVP%20and%20Delivery%20Hero%20Ventures%2C%20among%20others%3Cstrong%3E%3Cbr%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20500%3Cbr%3E%3C%2Fp%3E%0A
RESULT
Al Hilal 4 Persepolis 0
Khribin (31', 54', 89'), Al Shahrani 40'
Red card: Otayf (Al Hilal, 49')
RACECARD
6pm: Al Maktoum Challenge Round-1 – Group 1 (PA) $50,000 (Dirt) 1,600m
6.35pm: Festival City Stakes – Conditions (TB) $60,000 (D) 1,200m
7.10pm: Dubai Racing Club Classic – Listed (TB) $100,000 (Turf) 2,410m
7.45pm: Jumeirah Classic Trial – Conditions (TB) $150,000 (T) 1,400m
8.20pm: Al Maktoum Challenge Round-1 – Group 2 (TB) $250,000 (D) 1,600m
8.55pm: Cape Verdi – Group 2 (TB) $180,000 (T) 1,600m
9.30pm: Dubai Dash – Listed (TB) $100,000 (T) 1,000m
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.”
