Hundreds of millions of Indians are celebrating Diwali on Monday with earthen oil lamps, colourful floor decorations and bright lights.
The Hindu festival symbolises the victory of light over darkness and the return home of Lord Ram, his wife Sita and brother Laxman after 14 years in exile, after killing the 10-headed demon king Ravana who had abducted Sita.
The festival is celebrated across regions and religions in India with much pomp and fervour. Houses, shops, and marketplaces were decked with dazzling lights and people wore new, vibrant clothes.
In the evening, they worship Lakshmi, the goddess of wealth and prosperity and Ganesha, the elephant god of wisdom.
The celebrations were dampened by the Covid-19 pandemic for the last two years but have returned now that cases are ebbing.
Markets were abuzz with eager customers buying lanterns, flowers, lights, candles and decorative items. Huge crowds also gathered at electronic and sweet shops.
Prime Minister Narendra Modi celebrated the festival with soldiers in Kargil in the Himalayan Ladakh region.
Over 1.5 million earthen lamps were lit and kept burning for 45 minutes at Ram Ki Paidi in Ayodhya — the birthplace of Lord Ram in northern Uttar Pradesh state — on Sunday, setting a Guinness World Record.
The celebrations are also sparking concerns about air pollution in parts of the country, including in the capital Delhi where authorities have banned fireworks.
In previous years, major firework displays have been blamed for worsening the air quality as low wind speeds mean the pollutants are trapped in the lower atmosphere.
Hindus have been celebrating Diwali by lighting earthen lamps and candles for centuries.
But the use of firecrackers on Diwali was introduced in the 18th century when Maratha Empire rulers organised displays — 400 years after they were first brought to the country from China.
Several state governments have banned firecrackers and warned residents that flouting the ban will attract jail terms of six months.
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An Indian clay artist, Sujata Chitrakar, works with an idol of the goddess Kali ahead of Diwali in Kolkata. EPA -

An artist gives the final touches to an idol of Kali, the Hindu goddess of power, in Siliguri, West Bengal. AFP -

Members of the Just Sewa Society distribute lamps and grocery items to people in need during an event ahead of Diwali, in Amritsar. AFP -

An Indian clay artist works with idols of the goddess Kali in Kolkata. EPA -

A street vendor applies dye to earthen pots to be used as decorative items, in Hyderabad. AFP -

People shop at a crowded market in New Delhi. Reuters -

People shop for paper lanterns and other decorative items in Mumbai. AFP -

A vendor selling firecrackers in Allahabad. AFP -

A street vendor sells decorative items at a market in New Delhi. AFP -

A street vendor dyes earthen lamps in New Delhi. AFP -

Shoppers buy decorative items in New Delhi. AFP -

People hold placards to raise awareness on air pollution caused by firecrackers, in Siliguri. AFP -

People buy decorative items at a market in Amritsar. AFP -

A shopkeeper hangs artificial flower garlands in Amritsar. AFP -

Flower garlands at a shop in New Delhi. AFP -

A vendor carries a bunch of roses at a flower market in New Delhi. AFP -

A woman makes garlands in New Delhi. AFP -

Shoppers in Chennai. EPA -

An artist gives finishing touches to an idol of Lakshmi in Kolkata. AP -

People buy flowers, fruits and essentials at a city market in Bengaluru. EPA -

A shop selling earthen lamps in Bengaluru. EPA -

A worker hangs decoration items in Amritsar. AFP -

An artisan paints a statue of Lakshmi on the outskirts of Hyderabad. AFP -

A young artisan at work in Hyderabad. AFP -

A vendor arranges decorative lights at a market in New Delhi. AFP -

A worker arranges artificial flowers in Amritsar. AFP -

A potter loads dried clay earthen lamps into a furnace in Allahabad. AFP -

A craftsman paints earthen lamps in Amritsar. AFP -

A visually impaired youth makes candles to be sold for Diwali in New Delhi. AFP -

An artisan works on an idol of the goddess Kali on the outskirts of Hyderabad. AFP -

Customers visit a shop selling decorative electric lights in Kolkata. EPA -

Potters make diyas or earthen oil lamps in New Delhi. AFP -

A worker makes candles in Ahmedabad. AFP -

A worker at a candle making shop in Ahmedabad. AFP -

A woman at a flower shop on the outskirts of Ahmedabad. AFP -

Women work inside an artifical flower shop in Ahmedabad. AFP -

Workers make firecrackers at a workshop in Ahmedabad. AFP -

Girls prepare wax-filled earthen lamps ahead of Diwali, at a centre for visually challenged girls in Ahmedabad. AFP
• Remittance charges will be tackled by blockchain
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• News has a bright future and the UAE is at the heart of it
• Architecture is over - here's cybertecture
• The National announces Future of News journalism competition
• Round up: Experts share their visions of the world to come
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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• Architecture is over - here's cybertecture
• The National announces Future of News journalism competition
• Round up: Experts share their visions of the world to come
Company%20Profile
Abaya trends
The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
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
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
MATCH INFO
Euro 2020 qualifier
Croatia v Hungary, Thursday, 10.45pm, UAE
TV: Match on BeIN Sports
Results
Final: Iran beat Spain 6-3.
Play-off 3rd: UAE beat Russia 2-1 (in extra time).
Play-off 5th: Japan beat Egypt 7-2.
Play-off 7th: Italy beat Mexico 3-2.
Race results:
1. Thani Al Qemzi (UAE) Team Abu Dhabi: 46.44 min
2. Peter Morin (FRA) CTIC F1 Shenzhen China Team: 0.91sec
3. Sami Selio (FIN) Mad-Croc Baba Racing Team: 31.43sec
Guns N’ Roses’s last gig before Abu Dhabi was in Hong Kong on November 21. We were there – and here’s what they played, and in what order. You were warned.
- It’s So Easy
- Mr Brownstone
- Chinese Democracy
- Welcome to the Jungle
- Double Talkin’ Jive
- Better
- Estranged
- Live and Let Die (Wings cover)
- Slither (Velvet Revolver cover)
- Rocket Queen
- You Could Be Mine
- Shadow of Your Love
- Attitude (Misfits cover)
- Civil War
- Coma
- Love Theme from The Godfather (movie cover)
- Sweet Child O’ Mine
- Wichita Lineman (Jimmy Webb cover)
- Wish You Were Here (instrumental Pink Floyd cover)
- November Rain
- Black Hole Sun (Soundgarden cover)
- Knockin’ on Heaven’s Door (Bob Dylan cover)
- Nightrain
Encore:
- Patience
- Don’t Cry
- The Seeker (The Who cover)
- Paradise City
The specs
Company profile
Company: Verity
Date started: May 2021
Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif
Based: Dubai
Sector: FinTech
Size: four team members
Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000
Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
THE SPECS
Engine: Four-cylinder 2.5-litre
Transmission: Seven-speed auto
Power: 165hp
Torque: 241Nm
Price: Dh99,900 to Dh134,000
On sale: now
Name: Brendalle Belaza
From: Crossing Rubber, Philippines
Arrived in the UAE: 2007
Favourite place in Abu Dhabi: NYUAD campus
Favourite photography style: Street photography
Favourite book: Harry Potter
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.”
How to invest in gold
Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.
A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).
Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.
Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”
Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”
Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”
By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.
You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.
You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.
COMPANY PROFILE
Name: Colm McLoughlin
Country: Galway, Ireland
Job: Executive vice chairman and chief executive of Dubai Duty Free
Favourite golf course: Dubai Creek Golf and Yacht Club
Favourite part of Dubai: Palm Jumeirah
The specs
Engine: 0.8-litre four cylinder
Power: 70bhp
Torque: 66Nm
Transmission: four-speed manual
Price: $1,075 new in 1967, now valued at $40,000
On sale: Models from 1966 to 1970















































