The Americas

'King of Pop' Michael Jackson dead

The artist, whose hit records include "Thriller" and "Billie Jean", died on Thursday after being taken ill at his home. He was 50 years old.

LOS ANGELES // Michael Jackson, who took to the stage as a child star and set the world dancing to exuberant rhythms for decades, died on Thursday after being taken ill at his home, the Los Angeles Times said. He was 50. "Pop star Michael Jackson was pronounced dead by doctors this afternoon after arriving at a hospital in a deep coma, city and law enforcement sources told The Times," the newspaper reported on its website. The paper's report followed news of Jackson's death first reported by the TMZ entertainment website. There was no immediate comment from spokespersons for Jackson, who was known as the "King of Pop," for hit albums that included "Thriller" and "Billie Jean." He had been scheduled to launch a comeback tour from London next month. TMZ said on its website tha: "Michael suffered a cardiac arrest earlier this afternoon at his Holmby Hills home and paramedics were unable to revive him. We're told when paramedics arrived Jackson had no pulse and they never got a pulse back." Earlier, the Los Angeles Times said the singer had been rushed to a Los Angeles-area hospital by fire department paramedics who found him not breathing when they arrived at the singer's home. The newspaper said paramedics performed cardiopulmonary resuscitation at the scene before taking him to the UCLA Medical Center hospital. Jackson had been due to start a series of concerts in London on July 13 running until March 2010. The singer had been rehearsing in the Los Angeles area for the past two months. The shows for the 50 London concerts sold out within minutes of going on sale in March. His lifetime record sales tally is believed to be around 750 million, which, added to the 13 Grammy Awards he received, makes him one of the most successful entertainers of all time. He lived as a virtual recluse since his acquittal in 2005 on charges of child molestation. There were concerns about Jackson's health in recent years but the promoters of the London shows, AEG Live, said in March that Jackson had passed a four-and-a-half hour physical examination with independent doctors.

*Reuters

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

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
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  • An elevated football field that doubles as a helipad
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  • Disruption Lab and Research Centre for developing entrepreneurial skills
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Stars: Basel Adra, Yuval Abraham

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Omar Yabroudi's factfile

Born: October 20, 1989, Sharjah

Education: Bachelor of Science and Football, Liverpool John Moores University

2010: Accrington Stanley FC, internship

2010-2012: Crystal Palace, performance analyst with U-18 academy

2012-2015: Barnet FC, first-team performance analyst/head of recruitment

2015-2017: Nottingham Forest, head of recruitment

2018-present: Crystal Palace, player recruitment manager

 

 

 

 

Results

1. New Zealand Daniel Meech – Fine (name of horse), Richard Gardner – Calisto, Bruce Goodin - Backatorps Danny V, Samantha McIntosh – Check In. Team total First round: 200.22; Second round: 201.75 – Penalties 12 (jump-off 40.16 seconds) Prize €64,000

2. Ireland Cameron Hanley – Aiyetoro, David Simpson – Keoki, Paul Kennedy – Cartown Danger Mouse, Shane Breen – Laith. Team total 200.25/202.84 – P 12 (jump-off 51.79 – P17) Prize €40,000

3. Italy Luca Maria Moneta – Connery, Luca Coata – Crandessa, Simone Coata – Dardonge, Natale Chiaudani – Almero. Team total 130.82/198.-4 – P20. Prize €32,000

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 biog

Name: Fareed Lafta

Age: 40

From: Baghdad, Iraq

Mission: Promote world peace

Favourite poet: Al Mutanabbi

Role models: His parents 

Inside Palestine-Israel