The Duke and Duchess of Cambridge joined the local community at a Grenfell Tower memorial service on the fifth anniversary of the tragedy.
Prince William and Kate observed a 72-second silence at the base of the tower in Kensington, London, in memory of the 72 men, women and children who died in the blaze five years ago.
The royal couple laid a wreath in tribute to those who died and listened to speeches which included calls for the arrests of those responsible for the tragedy and criticism of the government’s Rwanda immigration policy.
Resident Muna Hussain said her children went to the same school as five of the children who died in the fire and her household was removed from the building in the days following.
When asked about Prince William and Kate’s appearance at the service, Ms Hussain told the PA news agency: “I was happy.
“I was glad to see at least they know how we are feeling as a community and they shared that feeling.
“It makes me very happy. It’s massive, it’s huge for us. It makes you feel better.”
Ms Hussain said she witnessed the fire with her son, who was then 13 years old, and had visited the tower and memorial wall every day since they were allowed back home.
Many mourners were wearing green scarves and clothing to match the green hearts that adorn the wall and have become a symbol of the tragedy.
The duke and duchess chatted with others attending the event before taking their seats in the front row for the multi-faith service.
Their appearance followed a private meeting earlier on Tuesday with those directly affected by the disaster.
During the service, 18 green balloons were released as the names of the children who died in the fire were spoken.
There were also choir performances, prayers, readings and the unveiling of a white heart sculpture made of hands.
The service was live-streamed so the wider community and public could watch.
And grime artist Stormzy was seen close to the tower while the service took place.
Speaking on stage, Cambridge Muslim College dean Shaykh Abdul Hakim Murad called for those accountable for the fire to be arrested.
He also criticised the government’s Rwanda immigration policy and called for a “museum of inequality” to be established in the capital.
He said families “still have not heard the click of handcuffs” and criticised the “xenophobic discourse now sadly gaining ground” amid plans for deportation flights to Rwanda.
“Grenfell shows how the powerless and underestimated can suffer, but also what they can achieve,” he added, before calling for a “just closure to this story”.
Father Gerard Skinner, parish priest of St Francis of Assisi church in Notting Hill, said Grenfell Tower has become a “symbol of suffering” for those who died, their loved ones, survivors and the community, and a “symbol of shame” for liars and deceivers.
“But Grenfell is a symbol of love. It’s why the heart is there at the top [of the tower], that’s why it’s here today,” he added.
“A reminder of the love of God, God’s love for each one of us and your love for each other.
“It is a symbol of change too — of laws and of hearts.”
Eight-year-old Ayeesha, who survived the fire, recited a poem she wrote called Never Forget.
“We will stay strong, we will rise up as a community, we will fight for justice together, we will always remember our friends and our neighbours, we will always remember our home,” she said.
“We can’t change the past but we can change the future. Never forget.”
Towards the end of the service, floral tributes were laid at the base of the tower by the royal couple and Mayor of London Sadiq Khan.
Kate laid down a wreath with white flowers as Prince William looked on behind her before both bowed their heads and stood for a moment of quiet reflection.
The royal couple left in a black car, with Kate waving to onlookers from the back seat as they were driven down Grenfell Road.
Bio:
Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour
Favourite Hobby: Serving poor people
Favourite Book: The Alchemist by Paulo Coelho
Favourite food: Fish and vegetables
Favourite place to visit: London
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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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Ruwais timeline
1971 Abu Dhabi National Oil Company established
1980 Ruwais Housing Complex built, located 10 kilometres away from industrial plants
1982 120,000 bpd capacity Ruwais refinery complex officially inaugurated by the founder of the UAE Sheikh Zayed
1984 Second phase of Ruwais Housing Complex built. Today the 7,000-unit complex houses some 24,000 people.
1985 The refinery is expanded with the commissioning of a 27,000 b/d hydro cracker complex
2009 Plans announced to build $1.2 billion fertilizer plant in Ruwais, producing urea
2010 Adnoc awards $10bn contracts for expansion of Ruwais refinery, to double capacity from 415,000 bpd
2014 Ruwais 261-outlet shopping mall opens
2014 Production starts at newly expanded Ruwais refinery, providing jet fuel and diesel and allowing the UAE to be self-sufficient for petrol supplies
2014 Etihad Rail begins transportation of sulphur from Shah and Habshan to Ruwais for export
2017 Aldar Academies to operate Adnoc’s schools including in Ruwais from September. Eight schools operate in total within the housing complex.
2018 Adnoc announces plans to invest $3.1 billion on upgrading its Ruwais refinery
2018 NMC Healthcare selected to manage operations of Ruwais Hospital
2018 Adnoc announces new downstream strategy at event in Abu Dhabi on May 13
Source: The National