The XJ is an 'indulgent' car, according to Ian Callum.
The XJ is an 'indulgent' car, according to Ian Callum.

'The old XJ was beautiful, but you have to move on'



Jaguar introduced its new XJ this week and brought along Ian Callum, the man behind the car maker's recent design renaissance. We caught up with the award-winning designer at the show. You say the new car is designed to be a classic Jaguar, but what makes it a Jaguar? Ian Callum See, you can't tell anyone 40 years old or younger, their reference is that Jaguar is a traditional car. But my reference to Jaguar is from the 1960s when it used to be cool.

The rules we came up with are quite straightforward. First of all, we have to strive to get great proportions. And, therefore we challenge every millimetre to get a nicer roofline, or a lower trunk, or whatever. And that is the first point of attack, to get something that will be visually exciting. And if you look back at Jaguar, that's exactly what they did. The other point is to put some discipline in the Jaguar. It's not about fanciful or faster surfaces, it's pure and simple. Simplicity doesn't always mean easy; it takes a long time to make something simple. And of course every line, every shape just has to be easy on the eye. And if you can bring all these things together, you can create a Jaguar.

The grille of the car was inspired by the original XJ. I was fortunate because I was so familiar with every facet of that car, I grew up studying them. I was able to try and transfer the feeling of that car through sketches and thoughts and discussions. As a team, we all wanted change. We knew we could not continue on this path of repeating style time and time again; it wasn't sustainable. A lot of people say to me, "The old XJ was a beautiful car", and it was, but you have to move on.

With the XF and now the XJ, you've taken a different, more creative turn with the interiors. IC Inside, we built up a philosophy of what a Jaguar interior should be; it should be warm and inviting. We looked at cars like Audis, which I have a lot of respect for, and we wanted to take on the best for craftsmanship. We worked very hard to do the best we could on that, and I think we're there, really.

We also started out thinking that we have to use wood, because that's our trademark, and leather, and I think we use it more than anybody, but beyond that a simplicity of architecture was important. The XF is a more pure, pragmatic design, the XJ is more of an indulgent car. And we didn't want the cars to look like layers of each other, so we took a different approach with the XJ. What does the future hold?

IC We would like to expand the sports car range, but I can't say too much more other than that. But we're very optimistic. We do think we can put more car lines into Jaguar. We've built a solid foundation again, our market shares are increasing each month around the world, and the XF has outsold the 5 Series in the UK last month. We feel quite pleased about all that. People are waiting to drive the XJ, there are a lot of people in that position. I'm absolutely convinced it'll be a no-brainer - I'm driving one now in the UK, and it's a great car to drive. nvorano@thenational.ae

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

Election pledges on migration

CDU: "Now is the time to control the German borders and enforce strict border rejections" 

SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom" 

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The specs

Engine: 3-litre twin-turbo V6

Power: 400hp

Torque: 475Nm

Transmission: 9-speed automatic

Price: From Dh215,900

On sale: Now

The specs: 2019 BMW X4

Price, base / as tested: Dh276,675 / Dh346,800

Engine: 3.0-litre turbocharged in-line six-cylinder

Transmission: Eight-speed automatic

Power: 354hp @ 5,500rpm

Torque: 500Nm @ 1,550rpm

Fuel economy, combined: 9.0L / 100km

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
The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

Price: from Dh122,745

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.”

Company name: Farmin

Date started: March 2019

Founder: Dr Ali Al Hammadi 

Based: Abu Dhabi

Sector: AgriTech

Initial investment: None to date

Partners/Incubators: UAE Space Agency/Krypto Labs 

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

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