British former hostage Terry Waite celebrated being knighted in the King's Birthday Honours list as one of life's "peak" achievements.
Sir Terry, who spent almost five years in captivity after being kidnapped in Lebanon, has been appointed a Knight Commander of the Order of St Michael and St George for his services to charity.
Suzanne Richards, a campaigner who lost her son, brother and father in the 2015 Tunisia terrorist attacks said she was "sad" they were not there to see her become an MBE.
Liz Tait, a British Red Cross volunteer who helped UK citizens escaping Sudan when armed conflict broke out earlier this year has been chosen to receive a British Empire Medal.
She was recognised for services to volunteering after spending more than 50 years offering dedicated support to people caught up crises around the world.
Sir Terry, 84, of Hartest, Suffolk, is the co-founder and president of Hostage International, which supports families of those taken captive, said he plans to keep on working.
"It really is a big surprise. I had no idea that this was coming up,” he said.
"And, of course, whenever this sort of award is given I recognise that there are a lot of people to whom one shares that award with, particularly with Hostage International and Emmaus for the homeless.
"They have worked incredibly hard and still do over the years to make those organisations what they are today. I'm just a figurehead, really."
As an envoy for the Church of England, Sir Terry travelled to Beirut to try to secure the release of four hostages but was kidnapped and held captive from 1987 to 1991.
He added: "It is a very significant honour and I'm really amazed that I've got it. I'm getting on but I'm still working at 84 now. I'm still very active.
"I suppose it's a peak, really. I was given an MBE many years ago and then I got a CBE several years afterwards. Now this is the next one up, so to speak.
"I think I've been very fortunate to get this because there are many other people who are deserving of honours who don't get mentioned.
Hope from tragedy
Ms Richards, 54, of Wednesbury, West Midlands, set up the Smile for Joel charity after Charles 'Patrick' Evans, 78, Adrian Evans, 49, and Joel Richards, 19, were killed in Tunisia.
The charity supports families hit by murder and terrorism,
"[I feel] absolutely amazing, shocked, overwhelmed, every emotion,” she said.
"When that letter came through in the post I was just so surprised, the charity is an amazing charity so many people helped me make it happen.
"Just to get that recognition was just wonderful and, straightaway, I rang [son and survivor] Owen and told him what we'd won because I do believe I share it with him as well."
Money donated to the charity is used to provide support to bereaved families, through holidays, bills or special gifts.
Help in world of crisis
Ms Tait, 65, from Lossiemouth, part of the British Red Cross' Psychosocial and Mental Health Team, was sent to Cyprus as the Sudan crisis escalated.
"I am absolutely delighted to have been recognised in the Birthday Honours list for my work volunteering with the British Red Cross.
"As a team, we work extremely hard to help people who face the most difficult challenges in life, and it is a huge honour to be recognised for that."
Among the stars and high-profile names in the birthday honours’ list are footballer Ian Wright, fashion editor Dame Anna Wintour and author Ian McEwan are among the famous faces recognised in the King's first Birthday Honours list.
Vogue editor-in-chief Dame Anna and Booker Prize-winning novelist McEwan were made Companions of Honour, alongside Sir John Bell, regius professor of medicine at the University of Oxford.
In the showbiz world, Line Of Duty actress Vicky McClure, television presenter Davina McCall and veteran broadcaster Ken Bruce were made MBEs.
Former England and Arsenal footballer Wright was made an OBE, and Sir Martin Amis, who died last month aged 73, was knighted.
McEwan said: "News of the honour, in a letter from the Cabinet Office, was a complete surprise and, naturally, I was delighted.
"I guess it amounts to a really good review. I'm now entering my 54th year of writing fiction. As all dedicated writers know, a literary life is not a career so much as a way of being.
"The task in hand, the novel one is trying to create, is always there, a constant and intimate companion.”
Bruce said the honour a "great surprise and privilege", while McCall said: "I can't believe it. It's a great honour and it really means a great deal."
Former Rangers footballer and manager John Greig was made a CBE while former Manchester United defender Jonny Evans and ex-Lionesses striker Eniola Aluko became MBEs.
MI6 chief Sir Richard Moore and Labour politician and former minister Sir Ben Bradshaw were knighted.
Conservative MPs John Baron, Bob Blackman, Damian Collins and Heather Wheeler were also recognised.
The king has made consultant gynaecologist Alan Farthing, who helped deliver the Prince and Princess of Wales's three children, a commander of the Royal Victorian Order (RVO).
Mr Farthing was surgeon-gynaecologist to the royal household for a number of years and is recognised in the Birthday Honours list.
The oldest recipient, 106-year-old Joan Willett, was given a British Empire Medal for her charitable fundraising for the British Heart Foundation, while the youngest, Junior Jay Frood, 18, received the same honour for services to vulnerable children.
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Joe Root's Test record
Tests: 53; Innings: 98; Not outs: 11; Runs: 4,594; Best score: 254; Average: 52.80; 100s: 11; 50s: 27
RESULTS
5pm Wathba Stallions Cup Maiden (PA) Dh70,000 (Dirt) 1,400m
Winner Munfared, Fernando Jara (jockey), Ahmed Al Mehairbi (trainer)
5.30pm Handicap (PA) Dh70,000 (D) 1,600m
Winner Sawt Assalam, Szczepan Mazur, Ibrahim Al Hadhrami
6pm Maiden (PA) Dh70,000 (D) 1,800m
Winner Dergham Athbah, Pat Dobbs, Mohamed Daggash
6.30pm Handicap (PA) Dh70,000 (D) 1,800m
Winner Rajee, Fernando Jara, Majed Al Jahouri
7pm Conditions (PA) Dh80,000 (D) 1,800m
Winner Kerless Del Roc, Fernando Jara, Ahmed Al Mehairbi
7.30pm Handicap (TB) Dh70,000 (D) 2,000m
Winner Pharoah King, Pat Dobbs, Doug Watson
8pm Conditions (PA) Dh85,000 (D) 2,000m
Winner Sauternes Al Maury, Dane O’Neill, Doug Watson
11 cabbie-recommended restaurants and dishes to try in Abu Dhabi
Iqbal Restaurant behind Wendy’s on Hamdan Street for the chicken karahi (Dh14)
Pathemari in Navy Gate for prawn biryani (from Dh12 to Dh35)
Abu Al Nasar near Abu Dhabi Mall, for biryani (from Dh12 to Dh20)
Bonna Annee at Navy Gate for Ethiopian food (the Bonna Annee special costs Dh42 and comes with a mix of six house stews – key wet, minchet abesh, kekel, meser be sega, tibs fir fir and shiro).
Al Habasha in Tanker Mai for Ethiopian food (tibs, a hearty stew with meat, is a popular dish; here it costs Dh36.75 for lamb and beef versions)
Himalayan Restaurant in Mussaffa for Nepalese (the momos and chowmein noodles are best-selling items, and go for between Dh14 and Dh20)
Makalu in Mussaffa for Nepalese (get the chicken curry or chicken fry for Dh11)
Al Shaheen Cafeteria near Guardian Towers for a quick morning bite, especially the egg sandwich in paratha (Dh3.50)
Pinky Food Restaurant in Tanker Mai for tilapia
Tasty Zone for Nepalese-style noodles (Dh15)
Ibrahimi for Pakistani food (a quarter chicken tikka with roti costs Dh16)
Results
ATP Dubai Championships on Monday (x indicates seed):
First round
Roger Federer (SUI x2) bt Philipp Kohlschreiber (GER) 6-4, 3-6, 6-1
Fernando Verdasco (ESP) bt Thomas Fabbiano (ITA) 3-6, 6-3, 6-2
Marton Fucsovics (HUN) bt Damir Dzumhur (BIH) 6-1, 7-6 (7/5)
Nikoloz Basilashvili (GEO) bt Karen Khachanov (RUS x4) 6-4, 6-1
Jan-Lennard Struff (GER) bt Milos Raonic (CAN x7) 6-4, 5-7, 6-4
UAE squad
Humaira Tasneem (c), Chamani Senevirathne (vc), Subha Srinivasan, NIsha Ali, Udeni Kuruppuarachchi, Chaya Mughal, Roopa Nagraj, Esha Oza, Ishani Senevirathne, Heena Hotchandani, Keveesha Kumari, Judith Cleetus, Chavi Bhatt, Namita D’Souza.
FIXTURES
UAE’s remaining fixtures in World Cup qualification R2
Oct 8: Malaysia (h)
Oct 13: Indonesia (a)
Nov 12: Thailand (h)
Nov 17: Vietnam (h)
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.”
Zayed Sustainability Prize
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AIR
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