Majid comes alive for new generation with launch of TV channel

ABU DHABI // A new chapter in the rich history of Majid, one of the Middle East’s most popular children’s magazines, began on Wednesday with the launch of the TV channel, Majid.

“Majid Channel is set to be the ideal media platform for entertaining, informative content that caters to young audiences,” said HE Mohamed Ebraheem Al Mahmood, Chairman and Managing Director of Abu Dhabi Media, publisher of The National, during an event to announce the launch.

“The programmes will maintain a balance between modern content and accessibility that is ideal for today’s youth, while reflecting the heritage and culture of the UAE and the region,” said Mr Al Mahmood, at Manarat Al Saadiyat in the capital.

It is also hoped the channel will promote Emirati culture and language, said Dr Amal Al Qubaisi, director general of Abu Dhabi Education Council.

“We have been dreaming of having this and it’s very important to provide the proper media content that would really serve our educational and social goals,” Dr Al Qubaisi said.

“Besides the emphasis on the Arabic language, I think there is a lot of educational and social goals that can provide a better orientation for children’s personalities and characters and also their knowledge of their country and their aspirations.”

Several hundred guests sat down for a pre-screening of some of the new programmes that will broadcast on Majid, from September 25. The audience smiled as they watched the characters of the magazine brought to life by ADM subsidiary Majid Entertainment.

For 37 years, the magazine has been telling stories of Majid, an 11-year-old Emirati boy who dresses in traditional attire and speaks the Emirati dialect, along with his friends Kaslan, Karamella, and Captain Khalfan.

“It’s amazing,” said Yamam Sami, a mother of two girls, after the screening.

“I’m usually reading the magazine story every night before sleep to the kids, so they know all the characters. Now, they are seeing them on TV. It’s really very close to our culture in a very high quality. I’m really interested because my kids will be so happy watching their favourite stories.”

Mr Al Mahmood said Arabic-language television for children made up less than 35 per cent of the total number of children’s shows aired in the UAE, with 88 per cent produced outside the Arab world.

“Abu Dhabi Media’s television network already covers a diverse array of topics, from politics, business and culture to sports, entertainment and art,” Mr Al Mahmood said.

“Now, the addition of children’s programming truly reinforces its position as a leading media organisation that caters to all interests, contributing to the UAE’s overall development plan.”

Mohamed Yehya, general manager of Majid Entertainment, said the new channel would build on the established reputation of the Majid brand.

“Our hope for the channel is to continue the legacy of the magazine and to push the children to enjoy the same entertainment that was provided for their parents through Majid magazine,” Mr Yehya said.

“If you go back to the ’80s and ’90s, it was the only entertainment dedicated to kids.

“Majid survived 40 years and that’s what makes Majid very special.

“I think the parents are waiting and expecting the channel even more than their kids.”

rpennington@thenational.ae

* This article has been amended since it was first published.

The bio

Favourite book: The Alchemist by Paulo Coelho

Favourite travel destination: Maldives and south of France

Favourite pastime: Family and friends, meditation, discovering new cuisines

Favourite Movie: Joker (2019). I didn’t like it while I was watching it but then afterwards I loved it. I loved the psychology behind it.

Favourite Author: My father for sure

Favourite Artist: Damien Hurst

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

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Brief scores:

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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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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

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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

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Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

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.”

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