Could this really have been a show by the master of opulence and painterly colour Christian Lacroix? In the upstairs portion of a derelict garage in the third arrondissement, a series of exquisitely clad models stalked the catwalk wearing greys, blacks and all shades gloomy, lightened only by the occasional off-mustard, dirty green or crisp cream. Not that the clothes lacked exuberance - as one would expect from Lacroix the fabrics were gleaming, the tailoring flamboyant and the shapes high-octane - but it was no rainbow riot.
In fact, for anyone wondering what was going on, the soundtrack to the show offered a pretty strong clue: the string quartet tribute to Nirvana, starting with a driving version of Come As You Are and moving on to Smells Like Teen Spirit, was an elegantly dressed up version of grunge, and that's where the clothes were coming from. The raw, messy side of the movement was left behind, but the punchy, angry attitude came in full force, musically and sartorially.
A series of ovoid coats in chunky, untidy tweeds with the sleeves casually pushed up, worn over leggings, might sound as grungy as it comes, but the careful tailoring, the beautiful fabrics and the elegant colour scheme stepped it up a notch. Suits in shining pewters with richly ruffled bows at the neck and shoulder, Gothic leg o' mutton sleeves and sculpted peplums were vampy and proud, while in evening wear a mix of silk bodices and skirts with black lace sleeves and back panels or crinoline-style mini skirts felt like the wardrobe of a sophisticated, trust-fund version of Courtney Love. Particularly lovely were a series of mustard knits that used three-dimensional knitting techniques to create bubbling organic puffed-out sleeves. With each heavenly cocktail dress that came out, the audience thought the show had reached its climax, but like many designers this season, things ended with a whimper not a bang, the final dress, a tobacco-brown ruched chiffon number, was pretty but no showstopper. Perhaps those big finale pieces are considered a touch tasteless given the mood.
Dries Van Noten - another grunge veteran, even if he wouldn't like to admit it - presented a palette with the desaturated gloom and mismatched textures and shapes that featured in the early Nineties movement. For Van Noten, though, the indefinably strange shades were inspired by the paintings of the British artist Francis Bacon. The silhouettes had a feeling of 1940s leisurewear, with a relaxed line, wrap jackets and fluid skirts. But the pale pink oversized mohair jumper at the opening of the show backed the nascent thrift trend, which is also starting to appear on the streets of Paris.
The musical theme continued at Karl Lagerfeld, who sent the British electro band Metronomy down the catwalk for the delectation of a crowd that contained the ubiquitous Beth Ditto and the Geldof girls. The strange motorcycle helmets worn by some of the models were made in conjunction with Apple, so that they are iPod-enabled. As the glitz and glamour of Hollywood starts to look tired and outdated, the in-crowd is apparently to be found in the music world, and Lagerfeld is, as ever, ahead of the pack with his new muses.
The clothes, though, were not so successful. In the now-inevitable shades of grey and black, the day dresses and suits, styled over silken trousers, looked rather dowdy and chunky, and their futuristic pointed shoulders and collars looked like a collision between Working Girl and the Starship Enterprise. The evening wear was more successful, with fluid silks gathered together with shredded tulle, and long fingerless gloves adding Dickensian cool.
Stark black, white and oyster made up Riccardo Tisci's palette at Givenchy, but this time fluffed-up feather necklines, soft lace and fringing softened the long, hard lines in a show that was pretty, though remarkable only for a truly awful studded, caped jumpsuit that would have delighted Elvis but, among such sophisticated evening wear, could only leave the audience confused.
Meanwhile, Andrew Gn's always-elegant silhouettes featured slim cropped-sleeved coats with elegantly rounded shoulders, cut-out necklines on silk dresses and, as some light relief from the relentless grey, the season's alternative neutral: petrol blue.
The one chink in the gloomy armour was Esteban Cortazar's fun, flirty, Eighties-inspired collection for Emanuel Ungaro. Bright prints, classic Ungaro polka dots, colourful tights, strappy sandals and super-short shapes made for a fun but still edgy party-girl collection that was a homage to Ungaro himself. It was a welcome change of pace: in the face of a crisis, not everyone wants to wallow.
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Spain drain
CONVICTED
Lionel Messi Found guilty in 2016 of of using companies in Belize, Britain, Switzerland and Uruguay to avoid paying €4.1m in taxes on income earned from image rights. Sentenced to 21 months in jail and fined more than €2m. But prison sentence has since been replaced by another fine of €252,000.
Javier Mascherano Accepted one-year suspended sentence in January 2016 for tax fraud after found guilty of failing to pay €1.5m in taxes for 2011 and 2012. Unlike Messi he avoided trial by admitting to tax evasion.
Angel di Maria Argentina and Paris Saint-Germain star Angel di Maria was fined and given a 16-month prison sentence for tax fraud during his time at Real Madrid. But he is unlikely to go to prison as is normal in Spain for first offences for non-violent crimes carrying sentence of less than two years.
SUSPECTED
Cristiano Ronaldo Real Madrid's star striker, accused of evading €14.7m in taxes, appears in court on Monday. Portuguese star faces four charges of fraud through offshore companies.
Jose Mourinho Manchester United manager accused of evading €3.3m in tax in 2011 and 2012, during time in charge at Real Madrid. But Gestifute, which represents him, says he has already settled matter with Spanish tax authorities.
Samuel Eto'o In November 2016, Spanish prosecutors sought jail sentence of 10 years and fines totalling €18m for Cameroonian, accused of failing to pay €3.9m in taxes during time at Barcelona from 2004 to 2009.
Radamel Falcao Colombian striker Falcao suspected of failing to correctly declare €7.4m of income earned from image rights between 2012 and 2013 while at Atletico Madrid. He has since paid €8.2m to Spanish tax authorities, a sum that includes interest on the original amount.
Jorge Mendes Portuguese super-agent put under official investigation last month by Spanish court investigating alleged tax evasion by Falcao, a client of his. He defended himself, telling closed-door hearing he "never" advised players in tax matters.
COMPANY%20PROFILE%20
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Rafael Nadal's record at the MWTC
2009 Finalist
2010 Champion
Jan 2011 Champion
Dec 2011 Semi-finalist
Dec 2012 Did not play
Dec 2013 Semi-finalist
2015 Semi-finalist
Jan 2016 Champion
Dec 2016 Champion
2017 Did not play
The specs
Engine: Four electric motors, one at each wheel
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Key facilities
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- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
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- Disruption Lab and Research Centre for developing entrepreneurial skills
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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
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NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
THE SPECS
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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.”
The%20specs%3A%202024%20Mercedes%20E200
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