• A man and his child light candles outside his shop during Diwali celebrations in Kathmandu, Nepal. Diwali, the festival of lights, is celebrated by all Hindus around the world. AP
    A man and his child light candles outside his shop during Diwali celebrations in Kathmandu, Nepal. Diwali, the festival of lights, is celebrated by all Hindus around the world. AP
  • Family members play with firecrackers in Kathmandu. Diwali is known as the Tihar festival in Nepal. EPA
    Family members play with firecrackers in Kathmandu. Diwali is known as the Tihar festival in Nepal. EPA
  • Children light firecrackers in Kathmandu. AP
    Children light firecrackers in Kathmandu. AP
  • A vendor untangles decorative lights at a shop in Kathmandu. AP
    A vendor untangles decorative lights at a shop in Kathmandu. AP
  • Sawantri, 40, helps her son to wave a burning sparkler during Diwali celebrations in Karachi, Pakistan. Reuters
    Sawantri, 40, helps her son to wave a burning sparkler during Diwali celebrations in Karachi, Pakistan. Reuters
  • A man lights a firecracker in Karachi. Reuters
    A man lights a firecracker in Karachi. Reuters
  • Oil lamps are lit at a home in Dhaka, Bangladesh, to celebrate Diwali. EPA
    Oil lamps are lit at a home in Dhaka, Bangladesh, to celebrate Diwali. EPA
  • A girl poses with a mural made out of coloured powder outside her home in Karachi. Reuters
    A girl poses with a mural made out of coloured powder outside her home in Karachi. Reuters
  • Indians light firecrackers as they celebrate Diwali in Dubai's Bur Dubai district. AFP
    Indians light firecrackers as they celebrate Diwali in Dubai's Bur Dubai district. AFP
  • Fireworks light the sky above a decorated building in Bur Dubai. AFP
    Fireworks light the sky above a decorated building in Bur Dubai. AFP
  • Pakistani Hindus light firecrackers in Karachi. AFP
    Pakistani Hindus light firecrackers in Karachi. AFP
  • Diwali decorations at the Praveen residence in Dubai. Antonie Robertson/The National
    Diwali decorations at the Praveen residence in Dubai. Antonie Robertson/The National
  • A young woman lights a firecracker as she celebrates Diwali in Karachi. AFP
    A young woman lights a firecracker as she celebrates Diwali in Karachi. AFP
  • A woman lights an oil lamp in Bengaluru, India. EPA
    A woman lights an oil lamp in Bengaluru, India. EPA
  • People set off firecrackers in Bengaluru. EPA
    People set off firecrackers in Bengaluru. EPA
  • Indians light firecrackers near New Delhi. EPA
    Indians light firecrackers near New Delhi. EPA
  • A boy prays at a Hindu temple in Sukkur, Pakistan, during Diwali. AP
    A boy prays at a Hindu temple in Sukkur, Pakistan, during Diwali. AP
  • People light lamps on the banks of the river Saryu in Ayodhya, India. AP
    People light lamps on the banks of the river Saryu in Ayodhya, India. AP
  • More lamps on the banks of river Sarayu in Ayodhya. AFP
    More lamps on the banks of river Sarayu in Ayodhya. AFP
  • India's Prime Minister Narendra Modi speaks at the 'Deepotsav' event in Ayodhya. AFP
    India's Prime Minister Narendra Modi speaks at the 'Deepotsav' event in Ayodhya. AFP
  • Family members of Rajasthan police personnel burn firecrackers in Ajmer, India. AFP
    Family members of Rajasthan police personnel burn firecrackers in Ajmer, India. AFP
  • Mr Modi, right, inaugurates the 'Deepotsav' event as Uttar Pradesh Chief Minister Yogi Adityanath watches. AFP
    Mr Modi, right, inaugurates the 'Deepotsav' event as Uttar Pradesh Chief Minister Yogi Adityanath watches. AFP
  • Children watch firecrackers being lit on the eve of Diwali at an orphanage in Jammu, India. AP
    Children watch firecrackers being lit on the eve of Diwali at an orphanage in Jammu, India. AP
  • People make a formation of Hindu god Lord Ram, with 3,000 earthen lamps in Chandigarh, India. AFP
    People make a formation of Hindu god Lord Ram, with 3,000 earthen lamps in Chandigarh, India. AFP
  • People crowd at a market on the eve of Diwali in Bangalore. AFP
    People crowd at a market on the eve of Diwali in Bangalore. AFP
  • A customer browses jewellery at a shop ahead of Diwali in New Delhi. Bloomberg
    A customer browses jewellery at a shop ahead of Diwali in New Delhi. Bloomberg
  • A flower market in Bangalore. AFP
    A flower market in Bangalore. AFP
  • A saleswoman helps a customer try various pieces of jewellery at a shop in New Delhi. Bloomberg
    A saleswoman helps a customer try various pieces of jewellery at a shop in New Delhi. Bloomberg
  • People shop in Mumbai ahead of Diwali, one of Hinduism's most important festivals, dedicated to the worship of the goddess of wealth Lakshmi. AP
    People shop in Mumbai ahead of Diwali, one of Hinduism's most important festivals, dedicated to the worship of the goddess of wealth Lakshmi. AP
  • Shoppers buy stainless steel utensils at a marketplace in Noida, on the outskirts of New Delhi. Bloomberg
    Shoppers buy stainless steel utensils at a marketplace in Noida, on the outskirts of New Delhi. Bloomberg
  • Hindus pray during Diwali at the temple in Dubai. AP
    Hindus pray during Diwali at the temple in Dubai. AP
  • A vendor sells decorative lights ahead of Diwali in New Delhi. Indian shoppers are back in force online and in stores, splurging this festive season. Bloomberg
    A vendor sells decorative lights ahead of Diwali in New Delhi. Indian shoppers are back in force online and in stores, splurging this festive season. Bloomberg
  • A customer buys Diwali lights in New Delhi. In the previous two years, the coronavirus pandemic has curtailed celebrations. Bloomberg
    A customer buys Diwali lights in New Delhi. In the previous two years, the coronavirus pandemic has curtailed celebrations. Bloomberg
  • Dancers perform at the Indian Consulate in Dubai. AP
    Dancers perform at the Indian Consulate in Dubai. AP
  • A vendor at a kiosk in New Delhi. Bloomberg
    A vendor at a kiosk in New Delhi. Bloomberg
  • A woman picks marigolds, used to make garlands and offer prayers, before selling them at a market for the Tihar festival, also called Diwali, in Kathmandu, Nepal. Reuters
    A woman picks marigolds, used to make garlands and offer prayers, before selling them at a market for the Tihar festival, also called Diwali, in Kathmandu, Nepal. Reuters
  • An Indian shopkeeper arranges earthen oil lamps for sale ahead of Diwali, the Festival of Lights, in Bangalore, India. EPA
    An Indian shopkeeper arranges earthen oil lamps for sale ahead of Diwali, the Festival of Lights, in Bangalore, India. EPA
  • A woman looks at decorative items and crackers offered at a market stand ahead of Diwali in Bangalore. EPA
    A woman looks at decorative items and crackers offered at a market stand ahead of Diwali in Bangalore. EPA
  • A child wearing make-up while asking for alms from passers-by at a market area ahead of Diwali in New Delhi. AFP
    A child wearing make-up while asking for alms from passers-by at a market area ahead of Diwali in New Delhi. AFP
  • A female customer takes off a gold necklace after trying it at a Senco Gold & Diamonds jewellery showroom before Diwali in Mumbai. AFP
    A female customer takes off a gold necklace after trying it at a Senco Gold & Diamonds jewellery showroom before Diwali in Mumbai. AFP
  • People buy firecrackers on the eve of the Hindu festival of Diwali, in Amritsar. AFP
    People buy firecrackers on the eve of the Hindu festival of Diwali, in Amritsar. AFP
  • A farmer cultivates lotus flowers in a reservoir in Bhopal ahead of Diwali. AFP
    A farmer cultivates lotus flowers in a reservoir in Bhopal ahead of Diwali. AFP
  • A woman shops for fancy jewellery in Chennai. AFP
    A woman shops for fancy jewellery in Chennai. AFP
  • Inside the Bikanervala Sweet Factory in Dubai Investment Park that is preparing for the Diwali rush on Indian Sweets. Antonie Robertson/The National
    Inside the Bikanervala Sweet Factory in Dubai Investment Park that is preparing for the Diwali rush on Indian Sweets. Antonie Robertson/The National
  • Prgati Grover prepares for the Diwali celebration at her home in Dubai. Khushnum Bhandari / The National
    Prgati Grover prepares for the Diwali celebration at her home in Dubai. Khushnum Bhandari / The National

India lights up in celebration of Diwali


Taniya Dutta
  • English
  • Arabic

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.

  • An Indian clay artist, Sujata Chitrakar, works with an idol of the goddess Kali ahead of Diwali in Kolkata. EPA
    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
    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
    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
    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
    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 at a crowded market in New Delhi. Reuters
  • People shop for paper lanterns and other decorative items in Mumbai. AFP
    People shop for paper lanterns and other decorative items in Mumbai. AFP
  • A vendor selling firecrackers in Allahabad. AFP
    A vendor selling firecrackers in Allahabad. AFP
  • A street vendor sells decorative items at a market in New Delhi. AFP
    A street vendor sells decorative items at a market in New Delhi. AFP
  • A street vendor dyes earthen lamps in New Delhi. AFP
    A street vendor dyes earthen lamps in New Delhi. AFP
  • Shoppers buy decorative items 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 hold placards to raise awareness on air pollution caused by firecrackers, in Siliguri. AFP
  • People buy decorative items at a market in Amritsar. AFP
    People buy decorative items at a market in Amritsar. AFP
  • A shopkeeper hangs artificial flower garlands in Amritsar. AFP
    A shopkeeper hangs artificial flower garlands in Amritsar. AFP
  • Flower garlands at a shop in New Delhi. 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 vendor carries a bunch of roses at a flower market in New Delhi. AFP
  • A woman makes garlands in New Delhi. AFP
    A woman makes garlands in New Delhi. AFP
  • Shoppers in Chennai. EPA
    Shoppers in Chennai. EPA
  • An artist gives finishing touches to an idol of Lakshmi in Kolkata. AP
    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
    People buy flowers, fruits and essentials at a city market in Bengaluru. EPA
  • A shop selling earthen lamps in Bengaluru. EPA
    A shop selling earthen lamps in Bengaluru. EPA
  • A worker hangs decoration items in Amritsar. AFP
    A worker hangs decoration items in Amritsar. AFP
  • An artisan paints a statue of Lakshmi on the outskirts of Hyderabad. AFP
    An artisan paints a statue of Lakshmi on the outskirts of Hyderabad. AFP
  • A young artisan at work in Hyderabad. AFP
    A young artisan at work in Hyderabad. AFP
  • A vendor arranges decorative lights at a market in New Delhi. AFP
    A vendor arranges decorative lights at a market in New Delhi. AFP
  • A worker arranges artificial flowers in Amritsar. AFP
    A worker arranges artificial flowers in Amritsar. AFP
  • A potter loads dried clay earthen lamps into a furnace in Allahabad. AFP
    A potter loads dried clay earthen lamps into a furnace in Allahabad. AFP
  • A craftsman paints earthen lamps in Amritsar. AFP
    A craftsman paints earthen lamps in Amritsar. AFP
  • A visually impaired youth makes candles to be sold for Diwali in New Delhi. 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
    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
    Customers visit a shop selling decorative electric lights in Kolkata. EPA
  • Potters make diyas or earthen oil lamps in New Delhi. AFP
    Potters make diyas or earthen oil lamps in New Delhi. AFP
  • A worker makes candles in Ahmedabad. AFP
    A worker makes candles in Ahmedabad. AFP
  • A worker at a candle making shop 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
    A woman at a flower shop on the outskirts of Ahmedabad. AFP
  • Women work inside an artifical flower shop in Ahmedabad. AFP
    Women work inside an artifical flower shop in Ahmedabad. AFP
  • Workers make firecrackers at a workshop 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
    Girls prepare wax-filled earthen lamps ahead of Diwali, at a centre for visually challenged girls in Ahmedabad. AFP
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

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20myZoi%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Syed%20Ali%2C%20Christian%20Buchholz%2C%20Shanawaz%20Rouf%2C%20Arsalan%20Siddiqui%2C%20Nabid%20Hassan%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2037%3Cbr%3E%3Cstrong%3EInvestment%3A%3C%2Fstrong%3E%20Initial%20undisclosed%20funding%20from%20SC%20Ventures%3B%20second%20round%20of%20funding%20totalling%20%2414%20million%20from%20a%20consortium%20of%20SBI%2C%20a%20Japanese%20VC%20firm%2C%20and%20SC%20Venture%3C%2Fp%3E%0A
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
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
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: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 

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

AT%20A%20GLANCE
%3Cp%3E%3Cstrong%3EWindfall%3C%2Fstrong%3E%0D%3Cbr%3EAn%20%E2%80%9Cenergy%20profits%20levy%E2%80%9D%20to%20raise%20around%20%C2%A35bn%20in%20a%20year.%20The%20temporary%20one-off%20tax%20will%20hit%20oil%20and%20gas%20firms%20by%2025%20per%20cent%20on%20extraordinary%20profits.%20An%2080%20per%20cent%20investment%20allowance%20should%20calm%20Conservative%20nerves%20that%20the%20move%20will%20dent%20North%20Sea%20firms%E2%80%99%20investment%20to%20save%20them%2091p%20for%20every%20%C2%A31%20they%20spend.%0D%3Cbr%3E%3Cstrong%3EA%20universal%20grant%3C%2Fstrong%3E%0D%3Cbr%3EEnergy%20bills%20discount%2C%20which%20was%20effectively%20a%20%C2%A3200%20loan%2C%20has%20doubled%20to%20a%20%C2%A3400%20discount%20on%20bills%20for%20all%20households%20from%20October%20that%20will%20not%20need%20to%20be%20paid%20back.%0D%3Cbr%3E%3Cstrong%3ETargeted%20measures%3C%2Fstrong%3E%0D%3Cbr%3EMore%20than%20eight%20million%20of%20the%20lowest%20income%20households%20will%20receive%20a%20%C2%A3650%20one-off%20payment.%20It%20will%20apply%20to%20households%20on%20Universal%20Credit%2C%20Tax%20Credits%2C%20Pension%20Credit%20and%20legacy%20benefits.%0D%3Cbr%3ESeparate%20one-off%20payments%20of%20%C2%A3300%20will%20go%20to%20pensioners%20and%20%C2%A3150%20for%20those%20receiving%20disability%20benefits.%3C%2Fp%3E%0A
Updated: October 24, 2022, 9:58 AM