King Charles III and Queen Consort Camilla arrive at St Mary Magdalene Church on the Sandringham Estate in eastern England on February 11, 2024. AFP
King Charles III and Queen Consort Camilla arrive at St Mary Magdalene Church on the Sandringham Estate in eastern England on February 11, 2024. AFP
King Charles III and Queen Consort Camilla arrive at St Mary Magdalene Church on the Sandringham Estate in eastern England on February 11, 2024. AFP
King Charles III and Queen Consort Camilla arrive at St Mary Magdalene Church on the Sandringham Estate in eastern England on February 11, 2024. AFP

King Charles attends church in first public outing since cancer diagnosis


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King Charles III on Sunday attended church with Queen Camilla in his first public outing since the announcement of his cancer diagnosis.

Walking alongside queen consort and holding an umbrella, the king arrived at St Mary Magdalene Church in Sandringham, Norfolk, on Sunday morning.

The king was seen wearing a brown coat and waving to the public before being greeted by the Rev Canon Dr Paul Williams at about 10.50am.

It comes after Buckingham Palace said the 75-year-old king, who acceded to the throne 17 months ago, has a “form of cancer”.

He was diagnosed after a “separate issue of concern was noted” and was investigated while he was being treated for a benign enlarged prostate.

The king has postponed all public-facing duties, but is continuing with behind-the-scenes work on his red boxes of state papers as he recuperates at his Sandringham estate in eastern England.

On Saturday the king thanked people for their “many messages of support and good wishes” and said it was “equally heartening” to hear how sharing his diagnosis has helped to promote public understanding of cancer.

“My lifelong admiration for their tireless care and dedication is all the greater as a result of my own personal experience.”

Britain's National Health Service reported this week that the king's diagnosis had sparked a surge in online searches for advice about the disease.

The king is continuing some administrative duties and held his weekly audience with the prime minister via phone this week.

The monarch is not thought to have prostate cancer, since after his recent hospital procedure for a benign prostate enlargement the palace said that “a separate issue of concern was noted”, adding subsequent tests had identified “a form of cancer”.

He has generally enjoyed good health, barring injuries from polo and skiing.

Prince William, heir to the throne, has taken on most of the king's duties alongside the king's sister Princess Anne and the queen consort.

The diagnosis has left Prince William, 41, shouldering a heavy royal burden as his wife Catherine continues to recover from a recent abdominal operation.

Prince William also thanked the public for their “kind messages” this week.

The king's estranged younger son Prince Harry flew back to Britain to see the king on Tuesday, adding to this week's drama.

The pair had a 45-minute meeting at the king's Clarence House residence in London before Harry flew back to his home in the US.

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Saturday: Final practice - 7am; Qualifying - 10am

Sunday: Chinese Grand Prix - 10.10am

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Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

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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Nov 5-6 : Abu Dhabi, UAE
Date TBC: Chengdu, China

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Sunday, January 20
3pm: Jordan v Vietnam at Al Maktoum Stadium, Dubai
6pm: Thailand v China at Hazza bin Zayed Stadium, Al Ain
9pm: Iran v Oman at Mohamed bin Zayed Stadium, Abu Dhabi

Monday, January 21
3pm: Japan v Saudi Arabia at Sharjah Stadium
6pm: Australia v Uzbekistan at Khalifa bin Zayed Stadium, Al Ain
9pm: UAE v Kyrgyzstan at Zayed Sports City Stadium, Abu Dhabi

Tuesday, January 22
5pm: South Korea v Bahrain at Rashid Stadium, Dubai
8pm: Qatar v Iraq at Al Nahyan Stadium, Abu Dhabi

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

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PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

Updated: February 11, 2024, 1:23 PM