• King Charles III in Westminster Abbey for the state funeral of his mother, Queen Elizabeth II. PA
    King Charles III in Westminster Abbey for the state funeral of his mother, Queen Elizabeth II. PA
  • The coffin of Queen Elizabeth is carried into St George's Chapel in Windsor Castle for the committal service. PA
    The coffin of Queen Elizabeth is carried into St George's Chapel in Windsor Castle for the committal service. PA
  • The hearse arrives at Windsor Castle for the committal service. Getty Images
    The hearse arrives at Windsor Castle for the committal service. Getty Images
  • Flowers are seen on the hearse as it arrives at Windsor Castle. AP
    Flowers are seen on the hearse as it arrives at Windsor Castle. AP
  • King Charles and Prince William join the procession in the Quadrangle inside Windsor Castle. AFP
    King Charles and Prince William join the procession in the Quadrangle inside Windsor Castle. AFP
  • The procession, led by the dismounted detachment of the Household Cavalry, followed by massed Pipes and Drums of Scottish and Irish regiments, the Brigade of Gurkhas, the Royal Air Force and the Band of the Grenadier Guards, arrives at Windsor Castle. Getty Images
    The procession, led by the dismounted detachment of the Household Cavalry, followed by massed Pipes and Drums of Scottish and Irish regiments, the Brigade of Gurkhas, the Royal Air Force and the Band of the Grenadier Guards, arrives at Windsor Castle. Getty Images
  • The hearse travels along the Long Walk as it makes its way to Windsor Castle. Reuters
    The hearse travels along the Long Walk as it makes its way to Windsor Castle. Reuters
  • The ceremonial procession travels down the Long Walk in Windsor. PA
    The ceremonial procession travels down the Long Walk in Windsor. PA
  • The hearse travels to Windsor. Reuters
    The hearse travels to Windsor. Reuters
  • The royal corgis await the cortege at Windsor Castle. Reuters
    The royal corgis await the cortege at Windsor Castle. Reuters
  • A member of the Coldstream Guards walks past flowers at St George's Chapel in Windsor Castle. AP
    A member of the Coldstream Guards walks past flowers at St George's Chapel in Windsor Castle. AP
  • A mourner throws a flower towards Queen Elizabeth's hearse as it is driven to Windsor from London. Reuters
    A mourner throws a flower towards Queen Elizabeth's hearse as it is driven to Windsor from London. Reuters
  • Members of the royal family pay their respects as the hearse carries the coffin of Queen Elizabeth in London. Reuters
    Members of the royal family pay their respects as the hearse carries the coffin of Queen Elizabeth in London. Reuters
  • The state gun carriage carrying the coffin of Queen Elizabeth arrives at Wellington Arch during the ceremonial procession following her state funeral. PA
    The state gun carriage carrying the coffin of Queen Elizabeth arrives at Wellington Arch during the ceremonial procession following her state funeral. PA
  • The funeral procession marches down The Mall following the service at Westminster Abbey. AP
    The funeral procession marches down The Mall following the service at Westminster Abbey. AP
  • The coffin of Queen Elizabeth is carried from her state funeral at Westminster Abbey. PA
    The coffin of Queen Elizabeth is carried from her state funeral at Westminster Abbey. PA
  • King Charles walks with Princess Anne, Prince Harry and Prince Andrew behind the coffin of Queen Elizabeth as it is pulled on a gun carriage through the streets of London following her funeral service. AP
    King Charles walks with Princess Anne, Prince Harry and Prince Andrew behind the coffin of Queen Elizabeth as it is pulled on a gun carriage through the streets of London following her funeral service. AP
  • Meghan, Duchess of Sussex, Queen Consort Camilla, Prince George, Catherine, Princess of Wales, Princess Charlotte and Sophie, Countess of Wessex, stand outside Westminster Abbey after the funeral. PA
    Meghan, Duchess of Sussex, Queen Consort Camilla, Prince George, Catherine, Princess of Wales, Princess Charlotte and Sophie, Countess of Wessex, stand outside Westminster Abbey after the funeral. PA
  • Buckingham Palace household staff pay their respects. AFP
    Buckingham Palace household staff pay their respects. AFP
  • Mourners pause for two minutes' silence during the funeral service in London. Reuters
    Mourners pause for two minutes' silence during the funeral service in London. Reuters
  • The coffin of Queen Elizabeth, draped in a Royal Standard and adorned with the Imperial State Crown and the sovereign's orb and sceptre, arrives in Westminster Abbey. AP
    The coffin of Queen Elizabeth, draped in a Royal Standard and adorned with the Imperial State Crown and the sovereign's orb and sceptre, arrives in Westminster Abbey. AP
  • Prince William, his wife Catherine, the Princess of Wales, and their children Prince George and Princess Charlotte arrive at Westminster Abbey. AP
    Prince William, his wife Catherine, the Princess of Wales, and their children Prince George and Princess Charlotte arrive at Westminster Abbey. AP
  • Members of the public watch the funeral from Horse Guards Road in London. PA
    Members of the public watch the funeral from Horse Guards Road in London. PA
  • Archbishop of Canterbury Justin Welby speaking during the funeral. PA
    Archbishop of Canterbury Justin Welby speaking during the funeral. PA
  • The coffin of Queen Elizabeth is carried into Westminster Abbey, followed by King Charles and Queen Consort Camilla for the state funeral in London. PA
    The coffin of Queen Elizabeth is carried into Westminster Abbey, followed by King Charles and Queen Consort Camilla for the state funeral in London. PA
  • The coffin of Queen Elizabeth is carried by the Bearer Party into Westminster Abbey. Getty
    The coffin of Queen Elizabeth is carried by the Bearer Party into Westminster Abbey. Getty
  • King Charles, Princess Anne, Prince Andrew and Prince Edward arrive at Westminster Abbey. AFP
    King Charles, Princess Anne, Prince Andrew and Prince Edward arrive at Westminster Abbey. AFP
  • Prince William and Prince Harry make their way to Westminster Abbey. PA
    Prince William and Prince Harry make their way to Westminster Abbey. PA
  • The State Gun Carriage carries the coffin of Queen Elizabeth through central London. PA
    The State Gun Carriage carries the coffin of Queen Elizabeth through central London. PA
  • Members of the public on the Mall become emotional during the funeral. PA
    Members of the public on the Mall become emotional during the funeral. PA
  • The coffin of Queen Elizabeth II is placed on a gun carriage for her state funeral service in central London. AP
    The coffin of Queen Elizabeth II is placed on a gun carriage for her state funeral service in central London. AP
  • The coffin of Queen Elizabeth leaves Westminster Hall. AP
    The coffin of Queen Elizabeth leaves Westminster Hall. AP
  • The Yeoman of the Guard arrive in Westminster Abbey. AP
    The Yeoman of the Guard arrive in Westminster Abbey. AP
  • Guests take their seats inside Westminster Abbey in London for the state funeral of Queen Elizabeth. AFP
    Guests take their seats inside Westminster Abbey in London for the state funeral of Queen Elizabeth. AFP
  • The Royal Marines band marches to Westminster Abbey. Getty Images
    The Royal Marines band marches to Westminster Abbey. Getty Images
  • US President Joe Biden arrives for the funeral. PA
    US President Joe Biden arrives for the funeral. PA
  • French President Emanuel Macron and wife Brigitte walk into Westminster Abbey. PA
    French President Emanuel Macron and wife Brigitte walk into Westminster Abbey. PA
  • Metropolitan Police Officers walk in formation down The Mall in preparation for the state funeral Of Queen Elizabeth II. Getty
    Metropolitan Police Officers walk in formation down The Mall in preparation for the state funeral Of Queen Elizabeth II. Getty
  • A Pearly king and queen, who raise money for charity, on the procession route in London. AFP
    A Pearly king and queen, who raise money for charity, on the procession route in London. AFP
  • People line the funeral procession route. Getty
    People line the funeral procession route. Getty
  • Mourners take a moment to rest on The Mall in London. Reuters
    Mourners take a moment to rest on The Mall in London. Reuters
  • At 6.28am on the day of her funeral, the final members of the public pay their respects at the coffin of Queen Elizabeth at the Palace of Westminster, London. PA
    At 6.28am on the day of her funeral, the final members of the public pay their respects at the coffin of Queen Elizabeth at the Palace of Westminster, London. PA
  • London's Westminster Abbey on the day of the state funeral and burial of Britain's Queen Elizabeth II. Reuters
    London's Westminster Abbey on the day of the state funeral and burial of Britain's Queen Elizabeth II. Reuters
  • Black Rod, the House of Lords' senior figure, walks through Westminster Hall at 6.30am after paying her respects on the final day of the lying in state at the coffin of Queen Elizabeth II in London. PA
    Black Rod, the House of Lords' senior figure, walks through Westminster Hall at 6.30am after paying her respects on the final day of the lying in state at the coffin of Queen Elizabeth II in London. PA
  • Police on patrol in Whitehall before Queen Elizabeth II's funeral at Westminster Abbey in London. EPA
    Police on patrol in Whitehall before Queen Elizabeth II's funeral at Westminster Abbey in London. EPA
  • People in London camp during the night before the funeral of Queen Elizabeth II. Reuters
    People in London camp during the night before the funeral of Queen Elizabeth II. Reuters
  • Vehicles in the motorcade of US President Joe Biden and first lady Jill Biden arrive to pay their respects to Queen Elizabeth II in London. Getty Images
    Vehicles in the motorcade of US President Joe Biden and first lady Jill Biden arrive to pay their respects to Queen Elizabeth II in London. Getty Images
  • US President Joe Biden accompanied by the First Lady Jill Biden signs a book of condolence at Lancaster House in London. PA
    US President Joe Biden accompanied by the First Lady Jill Biden signs a book of condolence at Lancaster House in London. PA
  • Brazilian President Jair Bolsonaro signs a book of condolence at Lancaster House in London, after the death of Queen Elizabeth II. Reuters
    Brazilian President Jair Bolsonaro signs a book of condolence at Lancaster House in London, after the death of Queen Elizabeth II. Reuters
  • The first lady of Ukraine, Olena Zelenska (R) views the coffin of Queen Elizabeth II, lying in state on the catafalque in Westminster Hall in London. Getty Images
    The first lady of Ukraine, Olena Zelenska (R) views the coffin of Queen Elizabeth II, lying in state on the catafalque in Westminster Hall in London. Getty Images
  • Oman's Sultan Haitham arrives for a reception hosted by Britain's King Charles III for heads of state and official overseas guests, at Buckingham Palace in London, the night before the funeral of Queen Elizabeth II. AP
    Oman's Sultan Haitham arrives for a reception hosted by Britain's King Charles III for heads of state and official overseas guests, at Buckingham Palace in London, the night before the funeral of Queen Elizabeth II. AP
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, arrives for a reception hosted by Britain's King Charles III for heads of state and official overseas guests, at Buckingham Palace in London, before the funeral of Queen Elizabeth II. AP
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, arrives for a reception hosted by Britain's King Charles III for heads of state and official overseas guests, at Buckingham Palace in London, before the funeral of Queen Elizabeth II. AP
  • Lebanon's Prime Minister-designate Najib Mikati and his wife May sign a book of condolence at Lancaster House in London, after the death of Queen Elizabeth II. PA
    Lebanon's Prime Minister-designate Najib Mikati and his wife May sign a book of condolence at Lancaster House in London, after the death of Queen Elizabeth II. PA

The royal family's military uniforms and medals explained


Sophie Prideaux
  • English
  • Arabic

Members of the British royal family displayed their military and honorary decorations as they attended the state funeral of Queen Elizabeth II at Westminster Abbey on Monday.

Queen Elizabeth II dies — follow the latest news as the world mourns

Scroll through the gallery above for the latest images from the funeral

King Charles III, Prince William and Princess Anne were among those in military uniform, while Prince Harry and Prince Andrew displayed several medals on their mourning suits.

Here are the meanings behind each uniform and medal, and why even James, Viscount Severn, 14, was spotted with medals.

King Charles III

Britain's King Charles III walks behind the coffin of Queen Elizabeth II. AFP
Britain's King Charles III walks behind the coffin of Queen Elizabeth II. AFP

The king wore the Royal Navy No 1 tailcoat with sword, the collar of the Order of the Garter, Order of the Thistle Sash, Order of Merit neck ribbon, Garter Star and Thistle Star.

He also wore full-size medals including the Queen’s Service Order (New Zealand), Coronation Medal, Silver Jubilee Medal, Golden Jubilee Medal, Diamond Jubilee Medal, Platinum Jubilee Medal and a Naval Long Service Good Conduct (LSGC) (three x Additional Service Bars).

Other medals included Canadian Forces Decoration (three x Additional Service Bars), The New Zealand Commemorative Medal, and The New Zealand Armed Forces Award.

Charles had a six-year military career, mainly flying for the Royal Navy.

Earl of Wessex

Prince Edward, Earl of Wessex, second from left, pictured with Sophie, Countess of Wessex and their children Lady Louise Windsor and James, Viscount Severn (back row) during the state funeral of Queen Elizabeth II. PA Wire
Prince Edward, Earl of Wessex, second from left, pictured with Sophie, Countess of Wessex and their children Lady Louise Windsor and James, Viscount Severn (back row) during the state funeral of Queen Elizabeth II. PA Wire

Edward, Earl of Wessex wore the Blues Uniform with the rank of Honorary Royal Colonel of the Royal Wessex Yeomanry, with the Garter Star and Sash and the Grand Cross of the Royal Victorian Order (GCVO) star.

He also wore Silver, Gold, Diamond and Platinum Jubilee Medals, the New Zealand Medal and the Canadian Forces Medal.

Prince Edward did not serve in the military but spent a short time as a Royal Marines officer cadet after leaving university in the 1980s.

The Prince of Wales

Prince William, Prince of Wales, arrives at Westminster Abbey for the state funeral of Queen Elizabeth II. AP
Prince William, Prince of Wales, arrives at Westminster Abbey for the state funeral of Queen Elizabeth II. AP

William, Prince of Wales wore the Royal Air Force No 1 uniform with the Garter Sash with RAF Pilot Wings and the Garter Star Chest Order.

He also wore the Gold, Diamond and Platinum Jubilee Medals.

William spent seven years in the military, including more than three years as a search and rescue pilot.

The Princess Royal

King Charles III and Princess Anne arrive at Westminster Abbey. AP Photo
King Charles III and Princess Anne arrive at Westminster Abbey. AP Photo

Anne, Princess Royal, wore a Royal Navy full ceremonial uniform in the rank of Admiral.

She wore full-size medals including the Queen’s Service Order, Coronation Medal, the Silver, Gold, Diamond and Platinum Jubilee medals, Long Service and Good Conduct Medal (Royal Navy), Canadian Forces Decoration, Order of St John Service Medal and New Zealand 1990 Medal.

Anne wore a decoration of a thistle sash and thistle star, as well as the Most Noble Order of the Garter (Garter Star), the Most Ancient and Most Noble Order of the Thistle (Star), and the Royal Victorian Order (Knight Grand Cross).

She did not serve in the military but holds a number of honours and titles.

Both Prince Harry, Duke of Sussex and Prince Andrew, Duke of York, who served in the military, were dressed in formal mourning clothes for the state funeral because they are no longer working members of the royal family.

However, both displayed a number of medals.

The Duke of Sussex

Prince Harry, left, and Prince Edward arrive at Westminster Abbey. AP Photo
Prince Harry, left, and Prince Edward arrive at Westminster Abbey. AP Photo

Prince Harry wore a black morning suit, displaying four medals. He wore the KCVO Star, representing the Royal Victorian Order, which recognises distinguished personal service to the monarch of the Commonwealth.

He also displayed his Afghanistan Service Medal, which was awarded for his time serving as a Captain in the British army, as well as the Gold, Diamond and Platinum Jubilee Medals.

The Duke of York

Britain's Prince Andrew, Duke of York, second from right, displays his medals on a mourning suit. AFP
Britain's Prince Andrew, Duke of York, second from right, displays his medals on a mourning suit. AFP

Prince Andrew, Duke of York, spent 22 years in the Royal Navy and served as a helicopter pilot in the Falklands War in 1982.

He holds medals for Naval Long Service and Good Conduct Medal, as well as the New Zealand 1990 Commemoration Medal, Canadian Forces’ Decoration and Commemorative Medal for the Centennial of Saskatchewan.

In 1982, he was awarded the South Atlantic Medal for his service in the Falklands War.

He also holds the Silver Jubilee Medal, Golden Jubilee Medal, Diamond Jubilee Medal and Platinum Jubilee Medal.

Eagle-eyed viewers were also confused as to why Prince Edward's teenage son, James, Viscount Severn, was wearing medals. However, he has received both the Diamond Jubilee Medal and Platinum Jubilee Medal.

– Additional reporting by PA

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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Sting & Shaggy

44/876

(Interscope)

2020 Oscars winners: in numbers
  • Parasite – 4
  • 1917– 3
  • Ford v Ferrari – 2
  • Joker – 2
  • Once Upon a Time ... in Hollywood – 2
  • American Factory – 1
  • Bombshell – 1
  • Hair Love – 1
  • Jojo Rabbit – 1
  • Judy – 1
  • Little Women – 1
  • Learning to Skateboard in a Warzone (If You're a Girl) – 1
  • Marriage Story – 1
  • Rocketman – 1
  • The Neighbors' Window – 1
  • Toy Story 4 – 1
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%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3EDual%20synchronous%20electric%20motors%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E1%2C108hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E1%2C340Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20automatic%20(front%20axle)%3B%20two-speed%20transmission%20(rear%20axle)%0D%3Cbr%3E%3Cstrong%3ETouring%20range%3A%20%3C%2Fstrong%3E488-560km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh928%2C400%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3EOrders%20open%3C%2Fp%3E%0A
German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

Terror attacks in Paris, November 13, 2015

- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Key products and UAE prices

iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229

iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649

iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179

Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.

Tightening the screw on rogue recruiters

The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.

 Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.

A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.

The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.

The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.

Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.

Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment

But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.

UAE v Ireland

1st ODI, UAE win by 6 wickets

2nd ODI, January 12

3rd ODI, January 14

4th ODI, January 16

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

Match info

Champions League quarter-final, first leg

Liverpool v Porto, Tuesday, 11pm (UAE)

Matches can be watched on BeIN Sports

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.”

Uefa Nations League: How it works

The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.

The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.

Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.

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PRO BASH

Thursday’s fixtures

6pm: Hyderabad Nawabs v Pakhtoon Warriors

10pm: Lahore Sikandars v Pakhtoon Blasters

Teams

Chennai Knights, Lahore Sikandars, Pakhtoon Blasters, Abu Dhabi Stars, Abu Dhabi Dragons, Pakhtoon Warriors and Hyderabad Nawabs.

Squad rules

All teams consist of 15-player squads that include those contracted in the diamond (3), platinum (2) and gold (2) categories, plus eight free to sign team members.

Tournament rules

The matches are of 25 over-a-side with an 8-over power play in which only two fielders allowed outside the 30-yard circle. Teams play in a single round robin league followed by the semi-finals and final. The league toppers will feature in the semi-final eliminator.

How to help

Call the hotline on 0502955999 or send "thenational" to the following numbers:

2289 - Dh10

2252 - Dh50

6025 - Dh20

6027 - Dh100

6026 - Dh200

Tuesday results:

  • Singapore bt Malaysia by 29 runs
  • UAE bt Oman by 13 runs
  • Hong Kong bt Nepal by 3 wickets

Final:
Thursday, UAE v Hong Kong

The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

The biog

Name: Timothy Husband

Nationality: New Zealand

Education: Degree in zoology at The University of Sydney

Favourite book: Lemurs of Madagascar by Russell A Mittermeier

Favourite music: Billy Joel

Weekends and holidays: Talking about animals or visiting his farm in Australia

'The Batman'

Stars:Robert Pattinson

Director:Matt Reeves

Rating: 5/5

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

Updated: September 19, 2022, 12:15 PM