King Charles hosts world leaders at Buckingham Palace reception

Queen Elizabeth II dies — follow the latest news as the world mourns

World leaders have attended a reception at Buckingham Palace hosted by King Charles on the eve of the queen’s funeral.

Presidents, prime ministers and royals from around the globe came together as guests of the monarch for the event on Sunday evening.

About 500 people were hosted in the palace’s main state rooms, including US President Joe Biden and his wife, Jill Biden.

The couple arrived in the presidential car known as The Beast in the middle of a convoy of vehicles at the back of the palace shortly before 6pm.

Members of the president’s entourage mingled with household staff and police next to the palace lawn while the reception took place inside.

Up to 250 leaders were invited, with most bringing their spouses, including France’s President Emmanuel Macron and his wife Brigitte.

Rehearsal at dawn for Queen Elizabeth's funeral - in pictures

An early morning rehearsal took place on Thursday for the funeral of Queen Elizabeth II in London. All photos: PA
The funeral will take place in London on Monday.
A procession down The Mall during the early morning rehearsal.
Members of the military take part.
The procession makes its way through central London as Big Ben looms.
Soldiers outside Westminster Abbey.
The eyes of the world will be on Westminster Abbey.

The Prince and Princess of Wales and other working members of the royal family including the Earl and Countess of Wessex, the Princess Royal and Vice Admiral Sir Tim Laurence, and the Duke and Duchess of Gloucester joined King Charles and Queen Consort Camilla in mingling with guests.

Dozens of leaders of Commonwealth countries and members of foreign ruling families also attended the reception.

Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, attended the reception and offered his deepest condolences on the passing of Queen Elizabeth II.

At least 10 coaches arrived filled with guests who solemnly walked into the palace.

Some leaders were seen greeting each other while others remained silent as they walked up the steps.

Most of the guests were dressed in black, while some wore the traditional clothing of their countries.

European Commission President Ursula von der Leyen and president of the European Council Charles Michel arrived on coaches at the grand entrance.

They were joined by New Zealand Prime Minister Jacinda Ardern, who walked into the palace followed by Canadian Prime Minister Justin Trudeau.

The public pay their respects to Queen Elizabeth II at Westminster - in pictures

Members of the public pay their respects as they pass the coffin of Britain's Queen Elizabeth II as it lies in state inside Westminster Hall, London. AFP
People queue in Westminster Hall to pay their respects. Getty
Queen Elizabeth's coffin arrived at Westminster Hall after a procession from Buckingham Palace. AFP
The coffin of Queen Elizabeth lies in Westminster Hall. PA
Long lines of mourners pass through Westminster Hall. AP
Queen Elizabeth will lie in state in Westminster Hall from Wednesday until a few hours before her funeral on Monday. AFP

Brazilian President Jair Bolsonaro was also among guests at the event, which took place across the picture gallery, the white drawing room, the blue drawing room and the music room.

Guests arriving in their own vehicles and going through the Bow Room entrance at the back of the palace included the Bidens, UK Prime Minister Liz Truss, Foreign Secretary James Cleverly, and President of Israel Isaac Herzog.

President of Ireland Michael Higgins arrived on a coach with the former King and Queen Consort of Spain, Juan Carlos and Sofia.

They joined dozens of other dignitaries who went in the grand entrance at the front of the palace.

Queen Elizabeth II's coffin procession from Buckingham Palace - in pictures

King Abdullah II and Queen Rania of Jordan arrived in their own vehicle at the grand entrance and were followed by their son, Hussein, Crown Prince of Jordan, who also took his own vehicle.

The Emir of Qatar, Sheikh Tamim, arrived moments later.

World leaders and royals pay their respects to Queen Elizabeth II - video

Bahraini King Hamad and Crown Prince Salman bin Hamad also joined the guests, and the Crown Prince of Kuwait, Sheikh Nawaf Al Ahmad, soon followed.

Sultan Haitham of Oman was also seen arriving at the palace.

King Felipe and Queen Letizia of Spain, King Carl XVI Gustaf and Queen Silvia of Sweden, and Queen Margrethe II of Denmark were among those arriving on coaches.

Queen Elizabeth II's funeral: five facts you may not know - video

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WHAT FANS WILL LOVE ABOUT RUSSIA

FANS WILL LOVE
Uber is ridiculously cheap and, as Diego Saez discovered, mush safer. A 45-minute taxi from Pulova airport to Saint Petersburg’s Nevsky Prospect can cost as little as 500 roubles (Dh30).

FANS WILL LOATHE
Uber policy in Russia is that they can start the fare as soon as they arrive at the pick-up point — and oftentimes they start it even before arriving, or worse never arrive yet charge you anyway.

FANS WILL LOVE
It’s amazing how active Russians are on social media and your accounts will surge should you post while in the country. Throw in a few Cyrillic hashtags and watch your account numbers rocket.

FANS WILL LOATHE
With cold soups, bland dumplings and dried fish, Russian cuisine is not to everybody’s tastebuds. Fortunately, there are plenty Georgian restaurants to choose from, which are both excellent and economical.

FANS WILL LOVE
The World Cup will take place during St Petersburg's White Nights Festival, which means perpetual daylight in a city that genuinely never sleeps. (Think toddlers walking the streets with their grandmothers at 4am.)

FANS WILL LOATHE
The walk from Krestovsky Ostrov metro station to Saint Petersburg Arena on a rainy day makes you wonder why some of the $1.7 billion was not spent on a weather-protected walkway.

Dirham Stretcher tips for having a baby in the UAE

Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:

• Buy second hand stuff

They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.

• Get a health card and vaccinate your child for free at government health centres

Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.

• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.

Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.

• Once baby is ready for solids, cook at home

Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.

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Sector: FinTech, online payment solutions

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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.”

Day 2, stumps

Pakistan 482

Australia 30/0 (13 ov)

Australia trail by 452 runs with 10 wickets remaining in the innings