A collection of hand-finished bone China has gone on sale commemorating the upcoming coronation of King Charles III and Queen Consort Camilla.
The range, made using centuries-old manufacturing processes in the heart of the Potteries, an area around Stoke-on-Trent, marks the May 6 ceremony at Westminster Abbey.
The bespoke design incorporates the royal coat of arms and a garland of laurel leaves symbolising peace.
Also featured is a decorative border of oak leaves signifying strength and longevity alongside the emblems of the four nations of the UK — the thistle, rose, shamrock and daffodil — while an entwined ribbon symbolises the partnership of the king and queen consort.
The range, from the Royal Collection Trust charity, features Charles's cypher, which is stamped in gold foil, designed by The College of Arms and consists of initials from his name and title, rex, which is Latin for king.
Ian Grant, the trust's head of product development and buying, said the process of designing and manufacturing thousands of pieces brought enormous pride to the staff working to produce the range.
The trust, part of the royal household, has been making commemorative china for 30 years.
But Mr Grant said: “This is probably the most momentous occasion we've developed a product for.”
Mr Grant, who started in the industry as an apprentice at Wedgwood in 1984, said designers and artisans needed to create a line of desirable products “very quickly” after the coronation date was announced.
The exact manufacturing location is kept under wraps, but workers there, some of whom started in the pottery-making industry as teenagers and are now in their 60s, spoke of their delight at being involved in marking such a historic event.
Mr Grant said each stage requires “years of training”, building to an “amazing process” which gives value to the Made in England stamp each item has applied on its base.
The china is fired in a biscuit kiln at 1,238°C for 11 hours, baking the pottery to such an extent that, when emptied at 4am, it will have shrunk by 15 per cent — a percentage indicating a fine quality bone china.
Pieces are then put in electric vibrating machines filled with small composite cubes of wood and pottery which act to “polish” the item without damaging it, allowing it to be glazed, and fired again at 1,080C.
The items are then decorated with a hand-applied silkscreen litho print.
In their still unfinished state, the colours on the decorated items — featuring paint containing liquid gold — are mismatched.
But once fired for a third and final time at 810°C, the heat and chemical processes turn the browns into golds and the green becomes a deep and vivid royal blue.
Even the boxes into which the pieces are packed are handmade by another Stoke-on-Trent firm, where an experienced team can make 200 packages an hour.
Mr Grant said: “Our guests and visitors to the sites at Buckingham Palace, Windsor Castle and the Palace of Holyroodhouse always look for something a little bit special when they visit us.
“So we wanted to make sure that this product met the expectations of our visitors but also truly and properly reflected the occasion.”
The range comprises a coffee mug priced at £30, pillbox at £40, tankard at £50, an eight-inch dessert plate also at £50, and a tea cup and saucer at £75.
There are also several limited edition lines which will be hand-numbered, produced in smaller runs ranging from 150 to 1,000 and be “a little bit more special”, Mr Grant said.
Profits go to the trust for the care and conservation of the Royal Collection.
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Tank warfare
Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.
“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.
“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”
MATCH INFO
Liverpool 2 (Van Dijk 18', 24')
Brighton 1 (Dunk 79')
Red card: Alisson (Liverpool)
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
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.”
Results
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The specs
Engine: 4.0-litre V8
Power: 503hp at 6,000rpm
Torque: 685Nm at 2,000rpm
Transmission: 8-speed auto
Price: from Dh850,000
On sale: now
UAE currency: the story behind the money in your pockets
The specs: 2018 Nissan Altima
Price, base / as tested: Dh78,000 / Dh97,650
Engine: 2.5-litre in-line four-cylinder
Power: 182hp @ 6,000rpm
Torque: 244Nm @ 4,000rpm
Transmission: Continuously variable tranmission
Fuel consumption, combined: 7.6L / 100km