Jordan's King Abdullah II praises Queen Elizabeth as 'beacon of light'

King Abdullah II of Jordan has praised Britain’s Queen Elizabeth II as a “beacon of light” for the world as she celebrates her platinum jubilee.

He said the queen set a high moral standard in public life for all to admire.

King Abdullah, in an excerpt from an interview released by the BBC, spoke about the queen’s influence around the world.

For many decades there have been strong ties between the two royal families. Jordan adopted its constitution in 1952, as Queen Elizabeth's reign began.

“If you look at 70 years of British history, you have had good days and bad days. Her Majesty is a beacon of light and hope for your nation and for many around the world,” King Abdullah said.

“Our hearts will always have a big and warm place for the queen.”

Celebrations for the platinum jubilee begin in the UK on Thursday this week with a four-day public holiday.

Official events including the traditional Trooping the Colour parade, a thanksgiving service for Queen Elizabeth's 70-year reign at St Paul’s Cathedral, and a concert outside Buckingham Palace, one of her London residences.

Thousands of beacons will be lit, while street parties are being held up and down the UK, including one in a residential street near Buckingham Palace.

Stonehenge, the ancient monument near Salisbury, also had a royal makeover. At the Tower of London, a Superbloom event has turned the moat area into a field of plants for the first time in its 1,000 years.

A towering Tree Of Trees sculpture, a 21-metre platinum jubilee centrepiece featuring 350 British-grown trees, has been placed in front of Buckingham Palace.

Queen Elizabeth is Britain's longest-serving monarch.

Queen Victoria, her great-grandmother, served 63 years, and George III spent 59 years on the throne until 1820.

Globally, Louis XIV is out in front having ruled France from May 14, 1643, to September 1, 1715 — more than 72 years.

Another British tradition — the warning of travel delays for people planning to drive in the holiday period came on Monday.

Queen quiz

UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

Honeymoonish

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Lexus LX700h specs

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The specs

Engine: 2.0-litre 4-cyl turbo

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Transmission: 10-speed auto

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The specs

Engine: 3.0-litre twin-turbo flat-six

Power: 480hp at 6,500rpm

Torque: 570Nm from 2,300-5,000rpm

Transmission: 8-speed dual-clutch auto

Fuel consumption: 10.4L/100km

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Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.

MATCH INFO

Europa League final

Who: Marseille v Atletico Madrid
Where: Parc OL, Lyon, France
When: Wednesday, 10.45pm kick off (UAE)
TV: BeIN Sports

THE BIO

Age: 30

Favourite book: The Power of Habit

Favourite quote: "The world is full of good people, if you cannot find one, be one"

Favourite exercise: The snatch

Favourite colour: Blue

Learn more about Qasr Al Hosn

In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:

Seven tips from Emirates NBD

1. Never respond to e-mails, calls or messages asking for account, card or internet banking details

2. Never store a card PIN (personal identification number) in your mobile or in your wallet

3. Ensure online shopping websites are secure and verified before providing card details

4. Change passwords periodically as a precautionary measure

5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties

6. Track bank notifications regarding transaction discrepancies

7. Report lost or stolen debit and credit cards immediately

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Timeline

1947
Ferrari’s road-car company is formed and its first badged car, the 125 S, rolls off the assembly line

1962
250 GTO is unveiled

1969
Fiat becomes a Ferrari shareholder, acquiring 50 per cent of the company

1972
The Fiorano circuit, Ferrari’s racetrack for development and testing, opens

1976
First automatic Ferrari, the 400 Automatic, is made

1987
F40 launched

1988
Enzo Ferrari dies; Fiat expands its stake in the company to 90 per cent

2002
The Enzo model is announced

2010
Ferrari World opens in Abu Dhabi

2011
First four-wheel drive Ferrari, the FF, is unveiled

2013
LaFerrari, the first Ferrari hybrid, arrives

2014
Fiat Chrysler announces the split of Ferrari from the parent company

2015
Ferrari launches on Wall Street

2017
812 Superfast unveiled; Ferrari celebrates its 70th anniversary

Four-day collections of TOH

Day Indian Rs (Dh)

Thursday 500.75 million (25.23m)

Friday 280.25m (14.12m)

Saturday 220.75m (11.21m)

Sunday 170.25m (8.58m)

Total 1.19bn (59.15m)

(Figures in millions, approximate)

THE CLOWN OF GAZA

Director: Abdulrahman Sabbah

Starring: Alaa Meqdad

Rating: 4/5

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.”

Jordan's King Abdullah II praises Queen Elizabeth as 'beacon of light'

King spoke of British monarch's influence on modern world.

Queen quiz

UK-EU trade at a glance

Honeymoonish

Lexus LX700h specs

The specs

The&nbsp;specs

Who was Alfred Nobel?

MATCH INFO

THE BIO

Learn more about Qasr Al Hosn

Seven tips from Emirates NBD

%20Ramez%20Gab%20Min%20El%20Akher

Timeline

Four-day collections of TOH

THE CLOWN OF GAZA

The specs