If you wanted to meet the personification of London's chattering class, you'd struggle to find a better candidate than Julia Hobsbawm, the founder and chief executive of Editorial Intelligence. She is the daughter of Eric Hobsbawm, the 94-year-old Egyptian-born, European-educated academic who made his career and reputation with a series of books including The Age of Revolution, The Age of Empire and The Age of Capital. His latest book, How to Change the World: Tales of Marx and Marxism, due to be published next year, illustrates his lifetime devotion to Karl Marx.
His daughter avoided academia and instead has enjoyed a successful 25-year career in the media spanning "the age of Telex to the age of Twitter". She worked in book publishing in the 1980s at Penguin and Virago Press; in the 1990s in television at the BBC and BSkyB; she ran a public relations company with Sarah Macaulay, the wife of Gordon Brown, at the turn of the millennium and in 2005 founded Editorial Intelligence. The company has been described by the Financial Times as "intellectual Viagra".
Each event is a cross between the World Economic Forum and Technology Entertainment and Design, but always done on a more intimate scale, so that you feel like you are a guest at a clever dinner party. Among the many people who have participated are Simon Schama, Niall Ferguson, Nassim Taleb and Annie Lennox.
At the end of next month, she is taking this flagship event, Names Not Numbers, to Mumbai, and is in discussions to bring it to the Middle East next year. Her latest book is Where the Truth Lies: Trust & Morality in the Business of PR, Journalism and Communications.
Where does the truth lie?
The age of command and control is being replaced by a time of transparency. Industries such as banking, the law and management consultancy are going to have to join the conversation and no longer sit in the shadows. In other words, you can no longer hide the truth. It's out there.
And what about your own industry?
Ten or 15 years ago, the division between advertising, marketing and public relations began to elide. A similar thing is happening in the space of thought leadership, public policy and intellectual entertainment. Everyone has an opinion because technology is like a flashbulb going off all the time. For this reason, people are drawn to our daily analysis summary; it is why we do the only awards solely for commentators in the UK. The live events and interviews we do are a reflection of that. As The Economist said: "more powerful than blood or money are ideas". People who work need ideas and creativity.
Everyone has an idea, but nobody has a clue at the moment. Would you agree?
You're right. There is a massive failure of leadership. There is a crisis of confidence, particularly among politicians.
Is that provoked because everyone has an opinion?
Even though I welcome this era of transparency, it clearly presents massive challenges for policymakers. A benchmark of an informed society is openness. But what you are increasingly finding is that the public are rising up, aided and abetted by Twitter, using the mass media themselves, and it is scaring the hell out of governments. We are all creating and craving connection, and that's a good thing.
Apart from connecting with somebody, what are the outputs to your gatherings?
It's a good point. There is a lot of research coming out of places such as the Harvard Business School and the London Business School to suggest that networking is the equivalent of a long-term investment. It may pay off in the short or medium term. But what underpins the value of networking is the phrase "Life is Long". You do not know if the person you are meeting will set off something now, or later. Curiosity is the key. I think the curious corporation is going to be the successful one. For instance, Vikram Mehta, chairman of Shell India, will participate in Names Not Numbers in Mumbai. So will Samaresh Parida, strategy director for Vodafone. I think it's good for people like this to meet mavericks.
How do you ensure that something interesting happens?
People are very excited by creative content. The theme in Mumbai is "individuality in a mass age". There will be a panel on business responsibility and philanthropy. It is a combination of the speakers but also the quality of the audience. They are all hand-picked. It's not about bums on seats but attracting the right people. It is rather like curating. Good ideas are out there, you just need to have the ambition to get them.
Where does social media fit into this?
We use social media as well as new media. We podcast and tweet and broadcast through ei TV on YouTube and we have an iPhone app called eimobile. We are the next generation of social media, face-to-face contact.
Almost the old model, it's gone full circle?
Absolutely. And once you leave the event, you become a member of the club. We call it the "eiClub" and you'll receive a daily summary of the UK's comments news. Tom Glocer, chief executive of Thomson Reuters, said that receiving it made him feel like he never lost the core of the great London media debate even when on the road. We are taking Names Not Numbers around the world to become a global ideas passport. We are aiming to do five events around the world by 2013. But first we are starting in Mumbai in November.
The Bio
Favourite holiday destination: Either Kazakhstan or Montenegro. I’ve been involved in events in both countries and they are just stunning.
Favourite book: I am a huge of Robin Cook’s medical thrillers, which I suppose is quite apt right now. My mother introduced me to them back home in New Zealand.
Favourite film or television programme: Forrest Gump is my favourite film, that’s never been up for debate. I love watching repeats of Mash as well.
Inspiration: My late father moulded me into the man I am today. I would also say disappointment and sadness are great motivators. There are times when events have brought me to my knees but it has also made me determined not to let them get the better of me.
Specs
Engine: Dual-motor all-wheel-drive electric
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Biog:
Age: 34
Favourite superhero: Batman
Favourite sport: anything extreme
Favourite person: Muhammad Ali
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Company%20profile
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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.
How it works
Booklava works on a subscription model. On signing up you receive a free book as part of a 30-day-trial period, after which you pay US$9.99 (Dh36.70) per month to gain access to a library of books and discounts of up to 30 per cent on selected titles. You can cancel your subscription at any time. For more details go to www.booklava.com
Queen
Nicki Minaj
(Young Money/Cash Money)
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
Frankenstein in Baghdad
Ahmed Saadawi
Penguin Press
Tips%20for%20travelling%20while%20needing%20dialysis
%3Cul%3E%0A%3Cli%3EInform%20your%20doctor%20about%20your%20plans.%C2%A0%3C%2Fli%3E%0A%3Cli%3EAsk%20about%20your%20treatment%20so%20you%20know%20how%20it%20works.%C2%A0%3C%2Fli%3E%0A%3Cli%3EPay%20attention%20to%20your%20health%20if%20you%20travel%20to%20a%20hot%20destination.%C2%A0%3C%2Fli%3E%0A%3Cli%3EPlan%20your%20trip%20well.%C2%A0%3C%2Fli%3E%0A%3C%2Ful%3E%0A
Auron Mein Kahan Dum Tha
Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar
Director: Neeraj Pandey
Rating: 2.5/5
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
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.”
MATCH INFO
Inter Milan 1 (Martinez 18' pen)
Juventus 2 (Dybala 4', Higuain 80')
Company info
Company name: Entrupy
Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist
Based: New York, New York
Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.
Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius.
Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place.
