A hard-up fisherman in Thailand is in line for a windfall of more than $1 million after finding a rare piece of expensive “whale vomit” on a beach.
Narong Phetcharaj was returning to shore when he saw a strange object in the surf at Niyom beach in southern Thailand’s Surat Thani province.
He found a large lump of a waxy mass called ambergris, which is French for grey amber.
The substance, which is regurgitated by sperm whales, can be sold for up to $40,000 a kilogram.
Mr Phetcharaj found a piece weighing about 30kg, which could be worth up to $1.2 million
The fisherman took the mass to experts at the Prince of Songkla University, who identified it as ambergris.
The substance is produced by sperm whales, which eat large quantities of cephalopods such as squid and cuttlefish and usually vomit out indigestible elements such as the beaks and pens.
Sometimes, these parts move into the whale's intestines and bind together, slowly becoming a solid mass which grows inside the huge mammal over many years.
The whale then vomits out the mass, which solidifies and floats on the surface of the ocean. It has a foul smell at first but after drying out, it develops a sweet and long-lasting fragrance, making it a sought-after ingredient in the perfume industry.
"None of the villagers has ever seen or touched a real whale ambergris before and that’s why everybody was happy," Mr Phetcharaj said.
"I'm so excited; I don’t know what to do. I plan to sell the ambergris as I’ve already received a certificate to prove that it's real.
"If I can get a good price, I'll retire from working as a fisherman and throw a party for my friends."
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Second place in Ocean Photographer of the Year, Henley Spiers: 'Diving amidst the barrage of gannets, I witness the violent synchronicity of these impressive seabirds as they embark on fishing dives,' says Spiers of this photo taken in the UK's Isle of Noss. 'They hit the water at 60 miles per hour (96kmh), an impact they can only withstand thanks to specially evolved air sacs in the head and chest. The bird’s agility transfers from air to sea where it also swims with incredible speed.' -

Third place in Ocean Photographer of the Year, Matty Smith: 'A hawksbill turtle hatchling just 3.5cm long and a few minutes old takes its first swim,' says Smith of his photo taken in Lissenung Island, Papua New Guinea. 'It had emerged from an egg just minutes earlier with approximately 100 of its siblings. They quickly made their way into the ocean to disperse as rapidly as they could and avoid predation from birds and fish. I had to work quickly for this shot.' -

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Second place in Adventure Photographer of the Year, Ben Thouard: A wave known as Teahupo’o, as seen from below, in Tahiti, French Polynesia -

Third place in Ocean Adventure Photographer of the Year, Sebastien Pontoizeau: A freediver duck dives to capture a photograph of a humpback whale off the coast of Reunion Island -

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Winner of Collective Portfolio Award, Stefan Christmann: Male emperor penguins huddling during polar night in Antarctica, to stay warm as a group -

Second place in Collective Portfolio Award, Matty Smith: A southern bobtail squid performs a spectacular display on the seabed at night -

Second place in Collective Portfolio Award, Matty Smith: Pacific Man o’ War, a colourful marine invader, under an apocalyptic red sky -

Second place in Collective Portfolio Award, Matty Smith: The Porpita porpita siphonophore appears like a miniature spinning galaxy on the ocean surface -

Third place in Collective Portfolio Award, Alex Kydd: A rare encounter with a fever of cownose rays on the Ningaloo Reef, Western Australia -
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Winner of Conservation Photographer of the Year, Kerim Sabuncuoglu: A dead moray eel on an abandoned fishing line in Bodrum, Turkey -

Highly Commended in Conservation Photographer of the Year, Thien Nguyen: Anchovy fishing boats photographed from above along the coastline of Phu Yen province, Vietnam -

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Third place in Exploration Photographer of the Year, Matty Smith: A portrait of a squid, taken in Bushrangers Bay, Australia
The mystery of ambergris
The substance has been called the treasure of the sea and referred to as floating gold.
Its origin remained a mystery for years, with theories suggested it was hardened sea foam or the droppings of large birds.
However, it was not until large-scale whaling began in the 1800s that the discovered was made that the sperm whale was the material’s only producer.
Conflicting opinions still exist as to how ambergris emerges from the whale. Many believe that the whale regurgitates the mass – which is where the substance gets its nickname “whale vomit”. Some believe the whale pass the mass along with faecal matter, whereas others say the obstruction grows so large it eventually fatally ruptures the animal.
SPECS
Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now
MATCH INFO
Crawley Town 3 (Tsaroulla 50', Nadesan 53', Tunnicliffe 70')
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Directors: Raj & DK
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Rating: 4/5
The Case For Trump
By Victor Davis Hanson
HEADLINE HERE
- I would recommend writing out the text in the body
- And then copy into this box
- It can be as long as you link
- But I recommend you use the bullet point function (see red square)
- Or try to keep the word count down
- Be wary of other embeds lengthy fact boxes could crash into
- That's about it
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
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Indoor Cricket World Cup Dubai 2017
Venue Insportz, Dubai; Admission Free
Day 1 fixtures (Saturday)
Men 1.45pm, Malaysia v Australia (Court 1); Singapore v India (Court 2); UAE v New Zealand (Court 3); South Africa v Sri Lanka (Court 4)
Women Noon, New Zealand v South Africa (Court 3); England v UAE (Court 4); 5.15pm, Australia v UAE (Court 3); England v New Zealand (Court 4)
Squads
Pakistan: Sarfaraz Ahmed (c), Babar Azam (vc), Abid Ali, Asif Ali, Fakhar Zaman, Haris Sohail, Mohammad Hasnain, Iftikhar Ahmed, Imad Wasim, Mohammad Amir, Mohammad Nawaz, Mohammad Rizwan, Shadab Khan, Usman Shinwari, Wahab Riaz
Sri Lanka: Lahiru Thirimanne (c), Danushka Gunathilaka, Sadeera Samarawickrama, Avishka Fernando, Oshada Fernando, Shehan Jayasuriya, Dasun Shanaka, Minod Bhanuka, Angelo Perera, Wanindu Hasaranga, Lakshan Sandakan, Nuwan Pradeep, Isuru Udana, Kasun Rajitha, Lahiru Kumara
ULTRA PROCESSED FOODS
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;
- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.
Wicked
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
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.
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If you go
The flights
Etihad and Emirates fly direct from the UAE to Chicago from Dh5,215 return including taxes.
The hotels
Recommended hotels include the Intercontinental Chicago Magnificent Mile, located in an iconic skyscraper complete with a 1929 Olympic-size swimming pool from US$299 (Dh1,100) per night including taxes, and the Omni Chicago Hotel, an excellent value downtown address with elegant art deco furnishings and an excellent in-house restaurant. Rooms from US$239 (Dh877) per night including taxes.
First Person
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Champions League quarter-final, first leg
Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)
Matches can be watched on BeIN Sports
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THE SPECS
Engine: 2.0-litre 4-cylinder turbo
Power: 275hp at 6,600rpm
Torque: 353Nm from 1,450-4,700rpm
Transmission: 8-speed dual-clutch auto
Top speed: 250kph
Fuel consumption: 6.8L/100km
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Tomorrow 2021
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.”
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Director: Jordan Peele
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MATCH INFO
Juventus 1 (Dybala 45')
Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')
Red card: Rodrigo Bentancur (Juventus)
Brief scoreline:
Wales 1
James 5'
Slovakia 0
Man of the Match: Dan James (Wales)
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
Results
5pm: UAE Martyrs Cup (TB) Conditions Dh90,000 2,200m
Winner: Mudaarab, Jim Crowley (jockey), Erwan Charpy (trainer).
5.30pm: Wathba Stallions Cup (PA) Handicap Dh70,000 1,400m
Winner: Jawal Al Reef, Richard Mullen, Hassan Al Hammadi.
6pm: UAE Matyrs Trophy (PA) Maiden Dh80,000 1,600m
Winner: Salima Al Reef, Jesus Rosales, Abdallah Al Hammadi.
6.30pm: Sheikha Fatima bint Mubarak (IFAHR) Apprentice Championship (PA) Prestige Dh100,000 1,600m
Winner: Bainoona, Ricardo Iacopini, Eric Lemartinel.
7pm: Sheikha Fatima bint Mubarak (IFAHR) Ladies World Championship (PA) Prestige Dh125,000 1,600m
Winner: Assyad, Victoria Larsen, Eric Lemartinel.
8pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Group 1 Dh5,000,000 1,600m
Winner: Mashhur Al Khalediah, Jean-Bernard Eyquem, Phillip Collington.
