Dubai // GCC filmmakers will be able to promote their work collectively in the Middle East for the first time during this year's international film festival in Dubai with the launch of a major new initiative.
Dubai International Film Festival (Diff) organisers yesterday launched the Dubai Film Market, which will allow film companies to view and trade films from the region during the seven-day festival in December.
Officials said the film market would be an opening for filmmakers to promote their films to major film companies.
"We do not have any such market in this entire region, not even close to the region," said Abdulhamid Juma, the chairman at Diff. Talent from the region would get a major boost with a professional platform for trade in films, he added.
The film market will assist with the exchange of broadcast and distribution rights, services and product ownership. Authorities said they were already sending out invitations and lobbying with international film companies to participate.
Content providers from across the globe are invited to trade during the Dubai Film Market, which will include all genres of content including feature films, documentaries, short films and films made for television.
"We saw that many major companies were a part of Diff last year, and they would certainly be willing to participate this year too," said Ziad Yaghi, the director of Dubai Film Market.
A highlight will be the introduction of a new process to acquire film content using Cinetech, a digitised library that helps participants browse and screen through a multitude of film titles. The initial archive will have more than 200 titles, and organisers hope to expand the library each year.
Cinetech categorises all available content under different labels to assist potential buyers and film researchers. It will also assist industry professionals by giving them the opportunity to contact sales agents and the holders of a film's rights.
When asked how much trade in films could be expected in comparison to other festivals, Mr Juma said: "It would be unfair to compare the initiative with a festival like Cannes, which has been running for decades. However, considering that there is no such platform at all for filmmakers in this region, it would be a great boost for artists here."
Mr Juma said the film market was designed to establish Dubai as the regional centre for trade of content, which would benefit the rapidly evolving film, media and technology industry. He added that the initiative would also empower buyers and sellers with knowledge and simplify trading transactions.
Registration to the Dubai Film Market is free and open to all professional industry participants from around the world including buyers, sales agents, programmers, filmmakers and producers. Market participants are required to obtain a separate accreditation from Diff.
More information is available on the festival website at www. dubaifilmfest.com.
@email:pmenon@thenational.ae
Skewed figures
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.
The five pillars of Islam
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
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.
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
The bio
Who inspires you?
I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist
How do you relax?
Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.
What is favourite book?
The Perks of Being a Wallflower - I think I've read it more than 7 times
What is your favourite Arabic film?
Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki
What is favourite English film?
Mamma Mia
Best piece of advice to someone looking for a career at Google?
If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.
Cultural fiesta
What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421, Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day.
EA%20Sports%20FC%2024
%3Cp%3EDeveloper%3A%20EA%20Vancouver%2C%20EA%20Romania%3Cbr%3EPublisher%3A%20EA%20Sports%3Cbr%3EConsoles%3A%20Nintendo%20Switch%2C%20PlayStation%204%26amp%3B5%2C%20PC%20and%20Xbox%20One%3Cbr%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."