King Charles III coins unveiled by Royal Mint

An official coin featuring King Charles III has been unveiled by the Royal Mint.

Britons will start to see the king's image in their change from around December, as 50p coins depicting him gradually enter circulation to meet demand.

In the meantime, the mint will release a memorial coin range on Monday at 9am to commemorate the life and legacy of Queen Elizabeth II.

The king's portrait will first appear on a special £5 Crown and 50p commemorating the queen.

Nicola Howell, chief commercial officer at the Royal Mint told the PA News agency: “We expect customers will start to be able to receive the commemorative range from October and then we expect the 50p memorial circulating coin to be appearing in people's change probably from December.”

The king's effigy has been created by sculptor Martin Jennings, and has been personally approved by the monarch himself, the Mint said.

In keeping with tradition, the king's portrait faces to the left, the opposite direction to Queen Elizabeth II.

King Charles is facing to the left on the newly minted coins. Bloomberg

Chris Barker from the Royal Mint Museum said: “Charles has followed that general tradition that we have in British coinage, going all the way back to Charles II actually, that the monarch faces in the opposite direction to their predecessor.”

He described the portrait as: “Dignified and graceful, which reflects his years of service.”

The Latin inscription surrounding the effigy reads: ":: CHARLES III :: D :: G :: REX :: F :: D :: 5 POUNDS :: 2022" which translates to: “King Charles III, by the Grace of God, Defender of the Faith”.

The effigy will start to appear on circulating and commemorative coins produced by the Royal Mint in the coming months.

The reverse of a 50p coin featuring the four quarters of the Royal Arms and the home nation emblems. Bloomberg

The reverse of the commemorative £5 coin features two new portraits of Queen Elizabeth II.

The design was created by artist John Bergdahl in collaboration with the Royal Mint.

It will form part of a wider memorial coin collection.

The reverse of the 50p features a design that originally appeared on the 1953 Coronation Crown.

It was struck to commemorate Queen Elizabeth II's coronation at Westminster Abbey, and includes the four quarters of the Royal Arms depicted within a shield.

In between each shield are emblems of the nations that make up the UK; a rose, a thistle, a shamrock and a leek.

Based in Llantrisant, South Wales, the Royal Mint has depicted the royal family on coins for over 1,100 years, documenting each monarch since Alfred the Great.

Anne Jessopp, chief executive of the Royal Mint, said: “The Royal Mint has been trusted to make coins bearing the monarch's effigy for over 1,100 years and we are proud to continue this tradition into the reign of King Charles III.

“Although technology has progressed, we continue to honour British craftsmanship passed down through the centuries.

“Our team of skilled modellers, tool makers and engravers will ensure that the King's effigy will be faithfully replicated onto millions of coins.

“Her late majesty ruled with heart and devotion for 70 years, and this memorial collection commemorates her remarkable legacy as Britain's longest-serving monarch.

“To ensure everyone can hold a piece of history in their hand, the 50p will also enter circulation in the UK.”

Mr Jennings said: “It is a privilege to sculpt the first official effigy of his majesty and to receive his personal approval for the design.

“The portrait was sculpted from a photograph of the king, and was inspired by the iconic effigies that have graced Britain's coins over the centuries.

“It is the smallest work I have created, but it is humbling to know it will be seen and held by people around the world for centuries to come.”

All UK coins bearing the effigy of Queen Elizabeth II will remain legal tender and in active circulation.

A display of coins showing the five versions of Queen Elizabeth II's head used over her lifetime. Bloomberg

Historically it has been commonplace for coins featuring the effigies of different monarchs to co-circulate, helping to minimise the environmental impact and cost.

There are around 27 billion coins currently circulating in the UK bearing the effigy of Queen Elizabeth II.

These will be replaced over time as they become damaged or worn and to meet demand for additional coins. Dr Kevin Clancy, director of the Royal Mint Museum, said: “Her Late Majesty Queen Elizabeth II has graced more coins than any other British monarch in a reign that lasted for 70 years.

“As we move from the Elizabethan to the Carolean era it represents the biggest change to Britain's coinage in decades, and the first time that many people will have seen a different effigy.

“Over the coming years it will become common for people to find coins bearing His Majesty and Queen Elizabeth II's effigy in their change, engaging new generations in the story of Britain's royal family.”

King Charles III through the years — in pictures

England squad

Joe Root (captain), Alastair Cook, Keaton Jennings, Gary Ballance, Jonny Bairstow (wicketkeeper), Ben Stokes (vice-captain), Moeen Ali, Liam Dawson, Toby Roland-Jones, Stuart Broad, Mark Wood, James Anderson.

RACECARD

6pm Emaar Dubai Sprint – Conditions (TB) $60,000 (Turf) 1,200m

6.35pm Graduate Stakes – Conditions (TB) $100,000 (Dirt) 1,600m

7.10pm Al Khail Trophy – Listed (TB) $100,000 (T) 2,810m

7.45pm UAE 1000 Guineas – Listed (TB) $150,000 (D) 1,600m

8.20pm Zabeel Turf – Listed (TB) $100,000 (T) 2,000m

8.55pm Downtown Dubai Cup – Rated Conditions (TB) $80,000 (D) 1,400m

9.30pm Zabeel Mile – Group 2 (TB) $180,000 (T) 1,600m

10.05pm Dubai Sprint – Listed (TB) $100,000 (T) 1,200m

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem

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.”

Thor%3A%20Love%20and%20Thunder%20

%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Taika%20Waititi%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Chris%20Hemsworth%2C%20Natalie%20Portman%2C%20Christian%20Bale%2C%20Russell%20Crowe%2C%20Tessa%20Thompson%2C%20Taika%20Waititi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A

While you're here

The National editorial: Turkey's soft power weighs heavy on Europe's Muslims

Con Coughlin: How extremists use Zoom and other tools to exploit pandemic

Nicky Harley: Peace TV preacher Zakir Naik prompts UK hate laws review

Company%20profile

%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EHakbah%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENaif%20AbuSaida%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ESaudi%20Arabia%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E22%20%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24200%2C000%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Epre-Series%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EGlobal%20Ventures%20and%20Aditum%20Investment%20Management%0D%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A

No more lice

Defining head lice

Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.

Identifying lice

Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.

Treating lice at home

Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.

Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital