Bill and Melinda Gates visiting with a young malaria patient in Mozambique. Jeff Christensen / Reuters
Bill and Melinda Gates visiting with a young malaria patient in Mozambique. Jeff Christensen / Reuters
Bill and Melinda Gates visiting with a young malaria patient in Mozambique. Jeff Christensen / Reuters
Bill and Melinda Gates visiting with a young malaria patient in Mozambique. Jeff Christensen / Reuters

Top three charitable foundations


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Stichting INGKA Foundation

History: founded in 1982 by Ingvar Kamprad, the Swedish billionaire and founder of Ikea, this foundation is based in the Netherlands. "INGKA" is a contraction of the founder's name, while "Stichting" is the Dutch word for foundation.

Endowment: US$36 billion (Dh132.2bn)

Activities: the foundation owns INGKA Holding, a private Dutch company based in Leiden, the Netherlands. Although the group's profits are spent on investments, the fund says it donated $61 million to charitable causes in 2010. Its purpose is to promote and support innovation in the field of architectural and interior design.

Bill & Melinda Gates Foundation

History: originally founded as the William H Gates Foundation in 1994 by Bill Gates, the founder of Microsoft, this organisation shifted to its current title when his wife, Melinda, joined the cause in 1999.

Endowment: $35.1bn

Activities: based in Seattle, Washington, the foundation aims to enhance health care and reduce extreme poverty in the US and around the world. The organisation says it spends at least 5 per cent of its assets each year, amounting to more than $1.5bn. In 2006, Warren Buffett donated approximately $30bn worth of Berkshire Hathaway shares to the cause.

Wellcome Trust

History: this foundation was first established in 1936 to administer the fortune of Sir Henry Wellcome, the pharmaceutical mogul and founder of the Burroughs Wellcome & Company. It's the largest non-governmental source of funds for biomedical research in the UK.

Endowment: $22.9bn

Activities: from its headquarters in London, Wellcome Trust seeks to achieve considerable improvements in human and animal health. Its major initiatives include maximising the health benefits of genetics, understanding the brain, combating infectious diseases and investigating development, ageing and chronic disease.

Rocketman

Director: Dexter Fletcher

Starring: Taron Egerton, Richard Madden, Jamie Bell

Rating: 3 out of 5 stars 

UAE currency: the story behind the money in your pockets

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Gorillaz 
The Now Now 

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.