King Charles III's official monogram has been revealed for the first time and is set to be a common sight across Britain in the coming years.
And four stamps featuring portraits of Queen Elizabeth II ― the first set to be approved by her succcessor — will be released in her memory on November 10.
Royal cyphers are a symbol of the monarch and are displayed on a variety of government buildings, official documents and police officers' uniforms.
They are often associated with the Royal Mail's famous red post boxes and are useful for identifying the reigning monarch of the era.
The new cypher features the king’s initial “C” intertwined with the letter “R” for Rex — Latin for king — with “III” within the R to represent King Charles III, and the crown above the letters.
Queen Elizabeth's cypher — “EIIR” — was below an image of the St Edward's Crown.
The cypher and stamps were unveiled as the royal period of mourning for Queen Elizabeth II ended, marking seven days since the late monarch's funeral in Westminster Abbey. Flags at royal residences will remain at half-mast until 8am on Tuesday.
The new stamps will feature images of the late monarch through the years.
A photograph taken by Dorothy Wilding in 1952 to mark her coronation features on second-class stamps.
The first-class stamp shows a photo taken by Cecil Beaton in 1968, in which the monarch is standing in her admiral's cloak with her head tilted to the left.
A portrait taken in November 1984 by Yousuf Karsh will appear on £1.85 stamps, and a photo taken by Tim Graham in 1996 while the Queen attended a banquet at Prague Castle during her visit to the Czech Republic will be the image on the £2.55 stamps.
"Today we are unveiling these stamps, the first to be approved by his majesty the king, in tribute to a woman whose commitment to public service and duty was unparalleled in the history of this country," said Royal Mail chief executive Simon Thompson.
The UK's new monarch travelled to Scotland soon after the queen’s funeral last Monday, with the period of royal mourning lasting for seven days after the queen’s burial.
The monogram is King Charles’s personal property and was selected by him from a series of designs prepared by the College of Arms.
A Scottish version features the Scottish crown, and was approved by Lord Lyon King of Arms.
It will be used by government departments and by the royal household for franking mail. The decision to replace cyphers will be at the discretion of individual organisations.
The process is likely to be a gradual one and in some instances the cyphers of previous monarchs can still be seen on public buildings and street furniture, especially post boxes.
The College of Arms, which designed the cyphers, was founded in 1484 and is responsible for creating and maintaining official registers of coats of arms and pedigrees.
The heralds who make up the college are members of the royal household and act under Crown authority.
Queen Elizabeth II's funeral: extraordinary images from an extraordinary day — in pictures
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
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SECRET%20INVASION
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The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
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.”
Wallabies
Updated team: 15-Israel Folau, 14-Dane Haylett-Petty, 13-Reece Hodge, 12-Matt Toomua, 11-Marika Koroibete, 10-Kurtley Beale, 9-Will Genia, 8-Pete Samu, 7-Michael Hooper (captain), 6-Lukhan Tui, 5-Adam Coleman, 4-Rory Arnold, 3-Allan Alaalatoa, 2-Tatafu Polota-Nau, 1-Scott Sio.
Replacements: 16-Folau Faingaa, 17-Tom Robertson, 18-Taniela Tupou, 19-Izack Rodda, 20-Ned Hanigan, 21-Joe Powell, 22-Bernard Foley, 23-Jack Maddocks.
RESULTS
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