Ishaan Khattar and Janhvi Kapoor in Dhadak. Courtesy IMDB
Ishaan Khattar and Janhvi Kapoor in Dhadak. Courtesy IMDB

Dhadak shows the curse of casteism is entrenched in India



In reference to your movie review Dhadak makes a gritty story glossy which was a bad decision (July 20), the newly released Indian film on casteism sheds light on the growing menace that is dividing Indian society.

The problem itself, although it is not new, harks back to the days of the British Raj, which eventually caused the schism of greater Hindustan into three countries – India, Pakistan and Bangladesh.

But India’s obsession with religion and casteism has reached new levels. Not only are Muslims targeted but minority groups, especially Dalits, have borne the brunt of right-wing factions, particularly since the BJP came to power.

And greater Hindustan, firmly split into three – more for religious reasons than political or nationalist aspirations – is still bearing the stigma of the tensions that led the split.

Dhadak shows how such divisiveness has not abated, despite India claiming global ascendancy in trade and tourism. A love story that blossoms between a rich girl and a Dalit ends in tragedy as the political family refuses to accept the boy.

It is a brave effort by the director. Inter-religious tensions have recurred in many countries, including Ireland, Rwanda and North and South Korea but in India it seems that casteism is entirely entrenched. It represents a serious danger in the country.

A R Modak, Johannesburg

The Founder’s Memorial is a milestone in the UAE’s history

I write in reference to your online article UAE Founder's Memorial attracts 28,000 visitors since opening (July 29): your article on the recently opened memorial to the late founding father of the UAE, Sheikh Zayed, in Abu Dhabi was good to read.

The fact that it has already attracted thousands of visitors is no wonder. Also, the fact that the memorial opened during the Year of Zayed is important.

In addition there are more cultural tours being held in the UAE and shows glorifying Sheikh Zayed’s legacy.

The memorial has already become one of Abu Dhabi’s main landmarks and marks a real milestone in the UAE’s history.

K Ragavan, Denver

Dialogue, not guns and knives, can usher in peace

In reference to your article Israel to build new settler homes after deadly knife attack (July 28), such myopic acts will only aggravate the situation there. Israel can bring peace in the region for its own good and prosperity in the region.

A move towards justice and peace will see the end of hostility. Guns and knives are not the solution of the problem, negotiations are.

Name withheld by request

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

Scoreline

Arsenal 0 Manchester City 3

  • Agüero 18'
  • Kompany 58'
  • Silva 65'
Spider-Man: No Way Home

Director: Jon Watts

Stars: Tom Holland, Zendaya, Jacob Batalon 

Rating:*****

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

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.”

TUESDAY'S ORDER OF PLAY

Centre Court

Starting at 2pm:

Malin Cilic (CRO) v Benoit Paire (FRA) [8]

Not before 4pm:

Dan Evans (GBR) v Fabio Fogini (ITA) [4]

Not before 7pm:

Pablo Carreno Busta (SPA) v Stefanos Tsitsipas (GRE) [2]

Roberto Bautista Agut (SPA) [5] v Jan-Lennard Struff (GER)

Court One

Starting at 2pm

Prajnesh Gunneswaran (IND) v Dennis Novak (AUT) 

Joao Sousa (POR) v Filip Krajinovic (SRB)

Not before 5pm:

Rajeev Ram (USA) and Joe Salisbury (GBR) [1] v Marin Cilic v Novak Djokovic (SRB)

Nikoloz Basilashvili v Ricardas Berankis (LTU)

Teenage%20Mutant%20Ninja%20Turtles%3A%20Shredder's%20Revenge
%3Cp%3E%3Cstrong%3EDeveloper%3A%20%3C%2Fstrong%3ETribute%20Games%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Dotemu%3Cbr%3E%3Cstrong%3EConsoles%3A%20%3C%2Fstrong%3ENintendo%20Switch%2C%20PlayStation%204%26amp%3B5%2C%20PC%20and%20Xbox%20One%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
OIL PLEDGE

At the start of Russia's invasion, IEA member countries held 1.5 billion barrels in public reserves and about 575 million barrels under obligations with industry, according to the agency's website. The two collective actions of the IEA this year of 62.7 million barrels, which was agreed on March 1, and this week's 120 million barrels amount to 9 per cent of total emergency reserves, it added.

COMPANY PROFILE
Name: Airev
Started: September 2023
Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47