Get ready for the sort of celebration that Britain does well. There will be a drinks reception at Lancaster House, near Buckingham Palace, followed by a session at the Guildhall in the City, then dinner inside St Paul’s Cathedral.
Those at least are the outline plans, which are subject to change, for next week’s event, billed as the Investment Summit 2024, designed to “showcase the best of Britain”.
Among those lining up to be impressed are David Solomon, chief executive of Goldman Sachs, Eric Schmidt, former chief executive of Google, Larry Fink from BlackRock and, in a sign of the times, Helge Lund, chairman of Wegovy creator Novo Nordisk, as well as other multinational chief executives and leaders from the UK’s leading companies.
It is being organised by Varun Chandra, the Prime Minister’s special adviser on business and investment, and former managing partner of corporate intelligence firm Hakluyt.
For Keir Starmer, the international gathering is a cornerstone occasion for his “government of change”. It was always Mr Starmer’s intention that within 100 days of taking office he and his colleagues would present a different, go-ahead, inclusive Britain, one that was open for business and ideas and, of course, hard cash.
Doubtless, the event will be so heavily orchestrated and spun as to be heralded a success. Companies that were unveiling projects in the UK anyway have been encouraged to store them up and announce them over the two days, giving the jamboree a positive glow.
Britain will be viewed in isolation, so comparisons with other countries that might also be benefiting from overseas direct investment, possibly in larger amounts, will be discouraged. This will be about Britain alone, and how brilliant it is.
According to Labour, the event will demonstrate that “Britain is back as a stable place to do business”. No matter that there was an almost identical get-together, held by the Conservative regime last November at Hampton Court. Then, as with this one, there was much flag-waving and jingoism, accompanied by promises of business support.
To put it in context, the outcome would be peculiar indeed if an economy the size of Britain’s did not attract substantial foreign investment. It is also relatively lightly-regulated, with a legal system that works, world-class universities and a common language that is universally used and understood.
It has also had successive governments that are desperate to reinvigorate areas of the nation, that would like nothing more than to reintroduce manufacturing in some form, and with it the creation of mass numbers of jobs, in regions that have suffered neglect and post-industrial decline. There are major subsidies on offer – more so, now the UK has left the EU, to the right takers.
In that sense, what is there not to like? The showcase should generate the feel-good mood that Mr Starmer seeks.
Wary business leaders
Whether it is genuinely an unalloyed triumph remains to be seen. For a start, this “mini-Davos”, as it has also been called, has been arranged in a hurry. When Rishi Sunak called the general election he sprang a surprise. The result was soon followed by the summer holidays, then the party conference season. Meanwhile, the clock was ticking on those first 100 days.
It might have made more sense to delay, to plan it better, but that was not an option. It would have been more sensible for another reason. No sooner did Mr Starmer take office than, together with Rachel Reeves, the Chancellor, he claimed to have found a "£22 billion hole” in the nation’s purse.
The Tories dispute this heavily. Nevertheless, a date has been set for Ms Reeves’ first budget, on 30 October, in which she will aim to plug the gap, probably by implementing tax increases on the wealthy and on business.
So, far from being commerce’s pal, just two weeks after the delegates have packed their bags and headed for their private jets, Labour will be clobbering companies with higher taxes. That is not a good look, and one Starmer and co may struggle to bat away.
The summit also lands soon after a party conference at which Labour did not distinguish itself with how it treated the attending captains of industry. There were complaints galore about its “Business Day”, alleging it was overpriced and ill-conceived. Business leaders are still grumbling about that, when they are supposed to put on their finest and hotfoot it to Lancaster House and the rest to receive another dose of charm from Mr Starmer and his ministers.
£29.5bn is the minimum
Labour may say it prioritises investment, but it does not have an investment minister. That was supposed to be earmarked for Benjamin Wegg-Prosser, a senior party stalwart and longtime Peter Mandelson ally, but he is said to have withdrawn from the running because of the impact on his business interests.
Repeated attacks on Britain’s ability to develop tech innovation from Elon Musk have not helped either. Nor is the draining in business confidence against a backdrop of likely increased UK taxation and continuing Middle East conflagration.
Both the CBI and Institute of Directors last week issued downbeat UK growth forecasts. These came on top of a report from the task force led by Sir Nigel Wilson, ex-boss of Legal & General, predicting the UK requires £1 trillion in new investment over the next decade if economic targets are to be met.
An impression of a Bank of England at odds with itself, led by a governor, Andrew Bailey, who last week forecast “aggressive” rate reductions but a chief economist, Huw Pill, who only a day later downplayed the cutting, did not instil optimism.
What those attendees would like to hear is news of closer ties with the EU, more free trade deals, increased movement of skilled labour from abroad, investment in developing skills, cheaper and more secure wholesale energy, and a massive injection of public capital into a creaking infrastructure. It is possible that Mr Starmer may yet spring a surprise. Certainly, he will be determined to ensure that the investment tally from last year’s Hampton Court assembly is exceeded. Then, Mr Sunak hailed a figure of £29.5 billion.
The target on Monday will be that figure plus. Anything less will be disastrous. But with greater foresight it might have been higher still.
The%20specs
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'How To Build A Boat'
Jonathan Gornall, Simon & Schuster
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
F1 2020 calendar
March 15 - Australia, Melbourne; March 22 - Bahrain, Sakhir; April 5 - Vietnam, Hanoi; April 19 - China, Shanghai; May 3 - Netherlands, Zandvoort; May 20 - Spain, Barcelona; May 24 - Monaco, Monaco; June 7 - Azerbaijan, Baku; June 14 - Canada, Montreal; June 28 - France, Le Castellet; July 5 - Austria, Spielberg; July 19 - Great Britain, Silverstone; August 2 - Hungary, Budapest; August 30 - Belgium, Spa; September 6 - Italy, Monza; September 20 - Singapore, Singapore; September 27 - Russia, Sochi; October 11 - Japan, Suzuka; October 25 - United States, Austin; November 1 - Mexico City, Mexico City; November 15 - Brazil, Sao Paulo; November 29 - Abu Dhabi, Abu Dhabi.
Wonka
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Six tips to secure your smart home
Most smart home devices are controlled via the owner's smartphone. Therefore, if you are using public wi-fi on your phone, always use a VPN (virtual private network) that offers strong security features and anonymises your internet connection.
Keep your smart home devices’ software up-to-date. Device makers often send regular updates - follow them without fail as they could provide protection from a new security risk.
Use two-factor authentication so that in addition to a password, your identity is authenticated by a second sign-in step like a code sent to your mobile number.
Set up a separate guest network for acquaintances and visitors to ensure the privacy of your IoT devices’ network.
Change the default privacy and security settings of your IoT devices to take extra steps to secure yourself and your home.
Always give your router a unique name, replacing the one generated by the manufacturer, to ensure a hacker cannot ascertain its make or model number.
MATCH INFO
UAE Division 1
Abu Dhabi Harlequins 12-24 Abu Dhabi Saracens
Secret Nation: The Hidden Armenians of Turkey
Avedis Hadjian, (IB Tauris)
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
THE%20SPECS
%3Cp%3EBattery%3A%2060kW%20lithium-ion%20phosphate%3Cbr%3EPower%3A%20Up%20to%20201bhp%3Cbr%3E0%20to%20100kph%3A%207.3%20seconds%3Cbr%3ERange%3A%20418km%3Cbr%3EPrice%3A%20From%20Dh149%2C900%3Cbr%3EAvailable%3A%20Now%3C%2Fp%3E%0A
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EWafeq%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJanuary%202019%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENadim%20Alameddine%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%2C%20UAE%3Cstrong%3E%3Cbr%3EIndustry%3A%20%3C%2Fstrong%3Esoftware%20as%20a%20service%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%20%3C%2Fstrong%3E%243%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3ERaed%20Ventures%20and%20Wamda%2C%20among%20others%3C%2Fp%3E%0A
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Global state-owned investor ranking by size
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
More from Neighbourhood Watch:
INFO
What: DP World Tour Championship
When: November 21-24
Where: Jumeirah Golf Estates, Dubai
Tickets: www.ticketmaster.ae.
SCHEDULE
Saturday, April 20: 11am to 7pm - Abu Dhabi World Jiu-Jitsu Festival and Para jiu-jitsu.
Sunday, April 21: 11am to 6pm - Abu Dhabi World Youth (female) Jiu-Jitsu Championship.
Monday, April 22: 11am to 6pm - Abu Dhabi World Youth (male) Jiu-Jitsu Championship.
Tuesday, April 23: 11am-6pm Abu Dhabi World Masters Jiu-Jitsu Championship.
Wednesday, April 24: 11am-6pm Abu Dhabi World Professional Jiu-Jitsu Championship.
Thursday, April 25: 11am-5pm Abu Dhabi World Professional Jiu-Jitsu Championship.
Friday, April 26: 3pm to 6pm Finals of the Abu Dhabi World Professional Jiu-Jitsu Championship.
Saturday, April 27: 4pm and 8pm awards ceremony.
more from Janine di Giovanni
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More from Rashmee Roshan Lall
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
RESULTS
Women:
55kg brown-black belt: Amal Amjahid (BEL) bt Amanda Monteiro (BRA) via choke
62kg brown-black belt: Bianca Basilio (BRA) bt Ffion Davies (GBR) via referee’s decision (0-0, 2-2 adv)
70kg brown-black belt: Ana Carolina Vieira (BRA) bt Jessica Swanson (USA), 9-0
90kg brown-black belt: Angelica Galvao (USA) bt Marta Szarecka (POL) 8-2
Men:
62kg black belt: Joao Miyao (BRA) bt Wan Ki-chae (KOR), 7-2
69kg black belt: Paulo Miyao (BRA) bt Gianni Grippo (USA), 2-2 (1-0 adv)
77kg black belt: Espen Mathiesen (NOR) bt Jake Mackenzie (CAN)
85kg black belt: Isaque Braz (BRA) bt Faisal Al Ketbi (UAE), 2-0
94kg black belt: Felipe Pena (BRA) bt Adam Wardzinski (POL), 4-0
110kg black belt final: Erberth Santos (BRA) bt Lucio Rodrigues (GBR) via rear naked choke
The specs
Price, base / as tested Dh100,000 (estimate)
Engine 2.4L four-cylinder
Gearbox Nine-speed automatic
Power 184bhp at 6,400rpm
Torque 237Nm at 3,900rpm
Fuel economy, combined 9.4L/100km
COMPANY%20PROFILE%20
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COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENomad%20Homes%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2020%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EHelen%20Chen%2C%20Damien%20Drap%2C%20and%20Dan%20Piehler%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20and%20Europe%3Cbr%3E%3Cstrong%3EIndustry%3C%2Fstrong%3E%3A%20PropTech%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2444m%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Acrew%20Capital%2C%2001%20Advisors%2C%20HighSage%20Ventures%2C%20Abstract%20Ventures%2C%20Partech%2C%20Precursor%20Ventures%2C%20Potluck%20Ventures%2C%20Knollwood%20and%20several%20undisclosed%20hedge%20funds%3C%2Fp%3E%0A
Mobile phone packages comparison
PROFILE OF CURE.FIT
Started: July 2016
Founders: Mukesh Bansal and Ankit Nagori
Based: Bangalore, India
Sector: Health & wellness
Size: 500 employees
Investment: $250 million
Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)
Key products and UAE prices
iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229
iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649
iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179
Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
States of Passion by Nihad Sirees,
Pushkin Press
THE%20SPECS
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GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Most%20ODI%20hundreds
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