King Charles's coronation to be held on May 6 at Westminster Abbey

King Charles III's coronation will be held on Saturday, May 6, Buckingham Palace has announced, eight months after the monarch’s accession and the death of Queen Elizabeth II.

The service will be conducted by the Archbishop of Canterbury and will take place at Westminster Abbey, where his mother's funeral took place.

Queen Consort Camilla will be crowned alongside King Charles.

Plans for the major event are known by the codename Operation Golden Orb, which sets out the blueprint for the service and the pageantry surrounding it.

The palace said the ceremony will be “rooted in long-standing traditions and pageantry” but also “reflect the monarch’s role today and look towards the future”. It described it as a "solemn religious service, together with an occasion for celebration and pageantry".

In a deeply religious service, King Charles will be anointed with holy oil, receive the orb, coronation ring and sceptre, be crowned with the majestic St Edward’s Crown and blessed during the historic ceremony.

The monarch is the head of the Church of England so it will be an Anglican service, but it is expected to be more inclusive of multi-faith Britain than past coronations.

The queen consort will also be anointed with holy oil and crowned, as the Queen Mother was when she was crowned in 1937.

In a statement, the palace said: “Buckingham Palace is pleased to announce that the coronation of His Majesty The King will take place on Saturday 6th May 2023.

“The coronation ceremony will take place at Westminster Abbey, London, and will be conducted by the Archbishop of Canterbury.

“The ceremony will see His Majesty King Charles III crowned alongside the Queen Consort.

“The coronation will reflect the monarch’s role today and look towards the future, while being rooted in long-standing traditions and pageantry.”

The coronation falls on the birthday of the Duke and Duchess of Sussex’s son Archie, who will turn four. It has not yet been confirmed who will attend the ceremony and whether or not Prince Harry and his wife Meghan will be among those invited.

Traditional coronation with a modern twist

It is understood that the ceremony will include the same core elements of the traditional service, which has retained a similar structure for more than 1,000 years, while also recognising the spirit of our times.

For the last 900 years, the ceremony has taken place at Westminster Abbey and since 1066, the service has almost always been conducted by the Archbishop of Canterbury.

The coronation is expected to be on a smaller scale and shorter than the late queen's coronation in 1953, with suggestions that it could last just one hour, down from more than three.

Guest numbers will be reduced from 8,000 to around 2,000, with peers expected to wear suits and dresses instead of ceremonial robes, and a number of rituals, such as the presentation of gold ingots, axed.

Coronations have not traditionally been held on a weekend, with the late queen’s taking place on a Tuesday. The palace has yet to comment on whether there will be any arrangements for a bank holiday. It had been speculated that the date would be June 3, but that would have clashed with the FA Cup final.

King Charles III through the years — in pictures

Further details are due to be released in due course, but the government and the royal household will be conscious of the scale of the coronation in light of the cost-of-living crisis facing the UK.

Security will be heightened given the high-profile nature of the day.

The king is expected to sign a proclamation formally declaring the date of the coronation at a meeting of the Privy Council later this year.

He will be anointed by the Archbishop and take his oath to “maintain and preserve inviolably the settlement of the Church of England, and the doctrine worship, discipline, and government thereof, as the law established in England”.

The queen consort will be crowned and take her place on a throne.

Queen's masterstroke to give Camilla the green light to be queen

On the eve of her Platinum Jubilee in February 2022, Queen Elizabeth endorsed the then-Duchess of Cornwall to be known as queen consort when the time came.

Royal aides insisted, when she married Prince Charles, that Camilla did not want to be queen and said originally that she “intended” to be known instead as Princess Consort — the first in British history — when her husband acceded to the throne.

The wife of a king automatically becomes a queen and only a change in legislation would prevent her from doing so, but there had been much controversy over whether Camilla would use the title, being Charles’s former mistress.

The royal website used to declare: “A Queen Consort is crowned with the King, in a similar but simpler ceremony.”

But following the prince’s marriage to Camilla it added the get-out clause “unless decided otherwise”.

The Duke of Norfolk, who organised the queen’s funeral, also has the role of staging the coronation.

He was recently banned from driving for six months after pleading guilty to using his mobile phone behind the wheel — despite claiming he needed his licence to arrange the forthcoming ceremony.

Queen's coronation brought much needed boost to postwar Britain

The late queen’s coronation took place on June 2, 1953 — 16 months after she became monarch.

It was a carnival of celebration and a morale boost for a nation starved of pageantry after the Second World War.

People began to bed down in the streets of London as early as 48 hours before the service, just to make sure they had a standing place to watch the queen pass by in the gold state coach in a grand procession.

By the Monday evening, in pouring rain and driving wind, half a million people were already lining the procession route.

Special seating structures were built inside the church to increase the usual congregation from 2,000 to 8,000.

Prince Charles, who was only four at the time, attended the service.

He has recalled his mother saying goodnight to him the night before while wearing the crown so she could get used to its weight on her head.

He remembered “thousands of people gathered in The Mall outside Buckingham Palace chanting ‘We want the Queen’ and keeping me awake at night”.

The 1953 coronation was shared with a wider audience through the relatively new medium of television, which came of age with the screening of the ceremony for the first time.

An estimated 27 million people in Britain alone watched the ceremony live on their black and white TVs and the images were also beamed around the world.

Queen Elizabeth II's funeral: extraordinary images from an extraordinary day — in pictures

Naga

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Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat

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Citizenship-by-investment programmes

United Kingdom

The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).

All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.

The Caribbean

Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport.

Portugal

The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.

“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.

Greece

The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.

Spain

The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.

Cyprus

Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.

Malta

The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.

The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.

Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.

Egypt

A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.

Source: Citizenship Invest and Aqua Properties

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Rating: 4/5

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Retail gloom

Online grocer Ocado revealed retail sales fell 5.7 per cen in its first quarter as customers switched back to pre-pandemic shopping patterns.

It was a tough comparison from a year earlier, when the UK was in lockdown, but on a two-year basis its retail division, a joint venture with Marks&Spencer, rose 31.7 per cent over the quarter.

The group added that a 15 per cent drop in customer basket size offset an 11.6. per cent rise in the number of customer transactions.

RESULTS

%3Cp%3E%0D5pm%3A%20Deerfields%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(Turf)%202%2C200m%0D%3Cbr%3EWinner%3A%20Taajer%2C%20Richard%20Mullen%20(jockey)%2C%20Salem%20Al%20Ketbi%20(trainer)%0D%3Cbr%3E5.30pm%3A%20The%20Galleria%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3EWinner%3A%20Zafaranah%2C%20Antonio%20Fresu%2C%20Musabah%20Al%20Muhairi%0D%3Cbr%3E6pm%3A%20Wathba%20Stallions%20Cup%20%E2%80%93%20Maiden%20(PA)%20Dh70%2C000%20(T)%201%2C200m%0D%3Cbr%3EWinner%3A%20Ifahat%20Du%20Loup%2C%20Abdul%20Aziz%20Al%20Balushi%2C%20Sulaiman%20Al%20Ghunaimi%0D%3Cbr%3E6.30pm%3A%20Mazyad%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C200m%0D%3Cbr%3EWinner%3A%20AF%20Majalis%2C%20Tadhg%20O%E2%80%99Shea%2C%20Ernst%20Oertel%0D%3Cbr%3E7pm%3A%20Dalma%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(T)%201%2C400m%0D%3Cbr%3EWinner%3A%20Bassam%20Al%20Wathba%2C%20Bernardi%20Pinheiro%2C%20Majed%20Al%20Jahouri%0D%3Cbr%3E7.30pm%3A%20World%20Trade%20Centre%20%E2%80%93%20Handicap%20(TB)%20Dh80%2C000%20(T)%201%2C400m%0D%3Cbr%3EWinner%3A%20Fawaareq%2C%20Dane%20O%E2%80%99Neill%2C%20Doug%20Watson%3C%2Fp%3E%0A

MATCH INFO

Newcastle 2-2 Manchester City
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Southampton v Watford (late)

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.

- Abdullah Ishnaneh, Partner, BSA Law

Blackpink World Tour [Born Pink] In Cinemas

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Rating: 3/5

Company%20profile

%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EXare%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJanuary%2018%2C%202021%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EPadmini%20Gupta%2C%20Milind%20Singh%2C%20Mandeep%20Singh%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunds%20Raised%3A%20%3C%2Fstrong%3E%2410%20million%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E28%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Eundisclosed%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EMS%26amp%3BAD%20Ventures%2C%20Middle%20East%20Venture%20Partners%2C%20Astra%20Amco%2C%20the%20Dubai%20International%20Financial%20Centre%2C%20Fintech%20Fund%2C%20500%20Startups%2C%20Khwarizmi%20Ventures%2C%20and%20Phoenician%20Funds%3C%2Fp%3E%0A

A list of the animal rescue organisations in the UAE

Looking for a new family pet? Here are the links to visit when it comes to adopting...

Animal Welfare Abu Dhabi

Rescue of Abu Dhabi

Feline Friends Abu Dhabi

Animal Welfare Al Ain

Yanni Animal Welfare

Animals and Us Fujairah

Arabian Saluki Center of Dubai (Ascod)

38 Smiles

Emirates Animal Welfare Society

Red Paw Foundation

KittySnip

Saluki International Rescue

K9 Friends Dubai

Amanda's Animal Rescue UAE

Ahmed's Animal Rescue

Al Mayya K9 Adoptions

New Life Rescue

Rescue Animals in Need United Arab Emirates

Stray Dogs Center UAQ

Sniff - Strays Needing Interim of Furever Friends

PARA UAE - Protection of Animal Rights Association

Ras Al Khaimah Animal Welfare Centre

Shepherd Rescue Arabia

Friends of Rakawc

UAQAC Umm Al Quwain Animal Care

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.”

UK’s AI plan

AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
£10bn AI growth zone in South Wales to create 5,000 jobs
£100m of government support for startups building AI hardware products
£250m to train new AI models

ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

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King Charles's coronation to be held on May 6 at Westminster Abbey

Queen Consort Camilla to be crowned alongside the king, Buckingham Palace announces

Traditional coronation with a modern twist

King Charles III through the years — in pictures

Queen's masterstroke to give Camilla the green light to be queen

Queen's coronation brought much needed boost to postwar Britain

Queen Elizabeth II's funeral: extraordinary images from an extraordinary day — in pictures

Naga

Libya's&nbsp;Gold

The&nbsp;five&nbsp;pillars&nbsp;of&nbsp;Islam

While you're here

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Citizenship-by-investment programmes

It Was Just an Accident

While you're here

Retail&nbsp;gloom

RESULTS

MATCH INFO

Labour dispute

Blackpink World Tour [Born Pink] In Cinemas

Company%20profile

A list of the animal rescue organisations in the UAE

UK’s AI plan

ETFs explained

While you're here

Libya's Gold

The five pillars of Islam

Retail gloom