King Charles III will be crowned alongside Queen Consort Camilla on Saturday May 6, 2023, at a ceremony at Westminster Abbey.
Many of the plans for the service, code named Operation Golden Orb, are being kept under wraps.
But Buckingham Palace has revealed some details about the celebrations planned to mark the event.
The service
The coronation will be conducted by the Archbishop of Canterbury.
According to the palace it will be “a solemn religious service, as well as an occasion for celebration and pageantry”.
It will “reflect the monarch's role today and look towards the future, while being rooted in longstanding traditions”, the palace said.
The solid gold 17th century St Edward’s Crown, which is so heavy it is only used for the moment of crowning itself, will be placed on top of the king’s head.
He will later wear the Imperial State Crown, which contains the Cullinan II diamond.
The queen consort will wear a modified version of Queen Mary’s crown during the service, the first time a crown will be reused for a coronation instead of a new one being commissioning.
It will not feature the Koh-i-noor diamond, a famous but controversial gem that been part of the British crown jewels since being seized from India in the 19th century.
In tribute to Queen Elizabeth II, the crown will instead be reset with the Cullinan III, IV and V diamonds.
After the ceremony, which will involve several stages, including pledging an oath to uphold the law and the Church of England, the couple will return to Buckingham Palace, where they will appear on the balcony with other members of the royal family.
The guest list
Royals from both home and abroad will attend the event.
The guest list is expected to include the entire British royal family, including Princess Anne, Prince Andrew, Prince Edward, along with his son, Prince William, and daughter-in-law Catherine, Princess of Wales.
Monaco’s Prince Albert and Princess Charlene have also confirmed they will attend.
The UK Prime Minister will also attend the coronation, as will other heads of state, and representatives from the British Houses of Parliament.
The playlist
An official government playlist has been compiled to celebrate the coronation.
Hits on the playlist, which runs for one hour and 56 minutes, include The Beatles' Come Together, Boney M's Daddy Cool, Treat People With Kindness by Harry Styles, Kate Bush's Running Up That Hill, the Spice Girls' Say You'll Be There and the appropriately titled King by Years & Years.
A track by grime artist Dizzee Rascal was removed because of his domestic violence conviction.
The queen consort has been a campaigner against domestic violence for years.
King Charles coronation date announced — in pictures
There will also be notable citizens from Commonwealth countries.
Westminster Abbey has a maximum capacity of about 2,200.
The Harry and Meghan question
Relations between the couple and the rest of the royal family became strained after the release of their Netflix documentary and Prince Harry’s book.
In an interview to promote his autobiography, the prince said: “There's a lot that can happen between now and then. But, you know, the door is always open.
“The ball is in their court. There's a lot to be discussed, and I really hope that they are willing to sit down and talk about it.”
The palace reportedly plans to invite Prince Harry and his wife Meghan, but the invite is apparently yet to be extended.
The celebrations
The coronation weekend will feature a star-studded concert, nationwide “big lunch” and volunteering initiative, as well as the traditional ceremony and royal processions.
The three days of ceremonial, celebratory and community events in early May will be a chance for “people to come together in celebration of the historic occasion”, Buckingham Palace announced recently.
The palace is asking neighbourhoods around the nation to take part in the “Coronation Big Lunch’’ on Sunday, May 7 — the latest incarnation of the block parties that have become a staple of big royal celebrations.
That night there will be a star-studded concert at Windsor Castle featuring a choir drawn from amateur troupes across the United Kingdom, including refugee choirs, National Health Service choirs, LGBTQ singing groups and deaf signing choirs.
Queen Elizabeth's coronation — in pictures
During the concert, locations across the country will be lit up using projections, lasers and drone displays.
Some 10,000 free tickets are up for grabs to the event, with members of the public invited to apply by visiting www.bbc.co.uk/coronationconcert. The ballot closes just before midnight on February 28.
The next day, the palace is inviting people around the country to take part in ‘’The Big Help Out”, encouraging them to volunteer in their own communities and pageantry”.
There will be a Bank Holiday on Monday, May 8, to celebrate.
How to watch
The ceremony, like the concert the following day, will be screened worldwide. Hundreds of millions of people are expected to tune in to watch the coronation.
But for anyone who wants to see the action first-hand, the prices of London hotels for the weekend have already rocketed.
According to accommodation search website Trivago, London hotels have ramped up their prices by 60 per cent year on year for the coronation, with prices hitting £254 a night for early bookers.
But as hotels increase their prices to capitalise on the expected surge in visitors, booking trends suggest that many visitors may be shunning London on the day of the ceremony.
Trivago data shows that the search share for the capital for the day of the coronation is lower than for the weekend before and the one after the ceremony, while searches for London are also down 8 per cent compared with the same day last year.
HOW DO SIM CARD SCAMS WORK?
Sim swap frauds are a form of identity theft.
They involve criminals conning mobile phone operators into issuing them with replacement Sim cards, often by claiming their phone has been lost or stolen
They use the victim's personal details - obtained through criminal methods - to convince such companies of their identity.
The criminal can then access any online service that requires security codes to be sent to a user's mobile phone, such as banking services.
How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
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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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What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
Brief scores:
Barcelona 3
Pique 38', Messi 51 (pen), Suarez 82'
Rayo Vallecano 1
De Tomas Gomez 24'
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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Youth YouTuber Programme
The programme will be presented over two weeks and will cover the following topics:
- Learning, scripting, storytelling and basic shots
- Master on-camera presence and advanced script writing
- Beating the algorithm and reaching your core audience
