Hong Kong buzzes 24/7 and any visitor quickly gets caught up in its manic energy. Regardless of the time you arrive, you’ll likely feel impelled to go out again as soon as you’ve checked in. Dynamic, insatiable, neon-lit and with giant video screens broadcasting the headlines, financial news and temperature around the clock, Hong Kong seethes with striving humanity, its development – around one of the world’s most spectacular deep harbours – driven wholly by trade. Not coincidentally, the shopping is outstanding. Hyper-modern luxury malls and department stores stocked with every international brand you can think of – Hong Kong loves the high life – flank teeming old streets dating back to 19th-century colonial days (Britain ceded Hong Kong back to China in 1997) where a reeking wet market packed with plastic buckets of squirming snakes, fish and eels is likely to face a couple of tailors’ shops, a mysterious Chinese pharmacy and a cool patisserie.
Prices are not the bargain they were in the 1980s, where there was nowhere better, worldwide, to shop for electronics. But they’re lower than in Shanghai and Tokyo. The great thing about a trip to the former colony (best undertaken between November and March, when there’s a crispness in the air and the weather sparkles) is this. When you’re finally dressed, shod, accessorised and sated with all those fashion labels; when you’ve made a few serendipitous finds in the antique stores along Hollywood Road (Mao-era posters, opium-den couches, kitsch Chinoiserie) and browsed the often luminously clever contemporary local art in artists’ studios or the galleries that reflect Hong Kong’s new status as Asia’s art hub (with its own annual Art Basel event), it is exhilaratingly easy to do something else entirely. Besides eating out, that is. Hong Kong’s restaurant scene is phenomenal.
You can go wild on the roller coasters at Ocean Park. Join the throng at the floodlit city-centre race-course at Happy Valley to witness the Chinese obsession with gambling in crazed and manic action (every Wednesday night from September to June, and be warned, after the third or fourth race that maniac screaming encouragement may well be you). Mooch around some of the outstanding museums (the Maritime Museum is the best).
And then you can escape from the densely populated, super-high-rise, ultra-crowded centre – Central on hilly Hong Kong island and, across the harbour, Tsim Sha Tsui on flat Kowloon, a tip of mainland China. Unexpectedly, much of Hong Kong’s 1,190 kilometres is spread over 200 green, hilly and mostly empty little islands. Although Lantau is the largest (Hong Kong Island is second largest) and home to Hong Kong airport (regularly named best in the world), inland, its empty rolling hills, where water buffalo graze, may put you in the mind of rural Thailand. A 35-minute ferry or hovercraft ride will bring you to somewhere like Sharp Island, in the New Territories – home to lovely beaches and the parrot sanctuary/monkey haven/butterfly aviary that is the Kadoorie Farm & Botanic Garden, a conservation and animal rescue centre, and where there’s little more to buy than lunch in the sunshine.
Luxury shopping
No question about which is the best: it's the IFC or International Finance Centre mall (www.ifc.com.hk) in Central, a few hundred yards from that pulsating waterfront next to the Four Seasons. This high-rise gleaming behemoth houses virtually all the Bond Street/Champs Élysées/Fifth Avenue top and mid-level luxury brands, from Aesop, Apple, Chloé and Armani, to Zara J Crew, Sandro and Tiffany & Co. Free wheelchair and stroller hire plus a liberal sprinkling of patisseries and familiar pizza, burger and salad chains add to the appeal. Be warned, though: your status as honoured customer will shrivel around Chinese New Year (Thursday, February 19 in 2015), when sales assistants suddenly speak only Cantonese and Mandarin and all eyes are on the high-spending mainlanders who surge over the border to spend their way through the biggest holiday in the Chinese calendar (prices are around 20 per cent lower in Hong Kong than in mainland China). The next best mall after IFC is Pacific Place (www.pacificplace.com.hk), also in Central. The massive Harbour City, across the harbour in Kowloon, by the Star Ferry terminal, is also worth investigating. No need to bother with any of the others. Among luxury stores, a big name to check out is still Joyce, with fashion and beauty stores and galleries dotted across Hong Kong (www.joyce.com). And in Causeway Bay, where Hong Kong's most insatiable shoppers are still thronging the streets at 9pm, the giant 12-storey Japanese department store Sogo is pretty compelling. Next door, Island Beverly Center is home to all sorts of novel Korean and Japanese brands and, nearby, the 20-store Windsor House is devoted solely to children's clothes and toys. Around Gough Street and Gage Street is now the area to find quirky one-off stores, for fashion,The Collectives, for furnishings, General Store.For east meets west – fashion in the store, art in the salon/restaurant Duddell's, there's Shanghai Tang. The Luxe City Guide is hot on what's cool (luxecityguides.com).
Street markets
Out with the old and in with the new is the way things go in Hong Kong, primarily because of the massive cost of real estate. The sole remaining night market is Temple Street, on Kowloon (www.temple-street-night-market.hk). A lot of fun after dark with its fortune tellers, face-readers, open-air Cantonese opera and sizzling food stalls, it is worth an evening's browse just for the people-watching. By day, Mong Kok's Bird Market – with old men in vests clustered around the cages – and nearby Flower Market provide photogenic browsing. The teeming streets around these markets are a good source of quirky buys – the pharmacies, in particular. How about straps to wrap around a daughter or niece's shoulders to force her to maintain good posture, for instance (how she will thank you for that).
Tailors
Hong Kong is full of tailors and famous for the 24-hour suit. As most of the tailors appear to be still in the grip of an ongoing love affair with the broad-shouldered New York gangster look, the results are pretty terrible. But three entirely reliable tailors are WW Chan for truly exquisite suits (www.wwchan.com), David's Shirts for more than 20 different styles of cuffs and collars (davidsshirts.com) and the famous Sam's Tailor (samstailor.com). Everyone from David Bowie and Richard Gere to Michael Jackson and Bill Clinton have been to Sam's.
Getting around
If you're used to jumping into a cab, Hong Kong is the place to abandon the habit. Not because cabs are expensive – they're not – but because the former colony has one of the best public transport systems in the world – far-reaching, clean and inexpensive. Wherever you're going, it will be quicker to go down into the MTR subway system, because daytime traffic is horrendous. Get an Octopus card (www.octopus.com.hk) from any MTR station on arrival; it's valid on all the trains and buses, including the old trams that have been clanking along Conduit Street in Central since 1904. Cabbing it by night is fun, though, because the place looks so spectacular, all lit up.
After the flight to Hong Kong, it's blissfully cosseting to walk off the skyway, see a sign with your name on it, and get whisked off on a buggy to immigration, baggage collection and then into the open doors of a limo. Worldwide Flight Services (www.worldwideflight.com.hk) are good, charging about HK$1,437 (Dh681) to meet and greet a family of four and an extra HK$625 (Dh296) for a limo. On the way back, though, it's quicker and much cheaper to check-in in the city, at the Airport Express desk on the ground floor of the IFC Mall, and then get the train to the airport. If you use the Airport Express train both ways, though, you get that, plus three days' use of all public transport for about HK$287 (Dh136) each. Ferries to Lanyau and other outlying islands charge minimally, so even the 35-minute trip out to car-less Cheung Chau for a meal on the waterfront costs only about HK$50 (Dh23). Crossing the harbour on the famous Star Ferry – plying this most thrilling of transfers since 1888 – costs HK$4 (Dh1.9).
Where to stay
As Hong Kong is renowned for its luxury hotels, you could choose any of the big names and be happy – food-and service-wise. But as far as location goes, it's best to avoid flat Kowloon, the equivalent of Brooklyn, even though hotels there (such as the inimitable old Peninsula) have the best views, looking across to mountainous Hong Kong Island. Stay in the heart of the action in Central, on Hong Kong side, near the Central Piers terminals for the Star Ferry and services to the outlying islands. Central's stand-out hotel – even better than the Mandarin – is the Four Seasons, overlooking the harbour and The Peak. It is so close to the IFC mall that an escalator from the lobby takes you right into the floor housing Bulgari, Prada et al, on top of a subway station. A five-minute walk to Central Piers, this is really outstanding, with a spectacular sixth-floor spa and pool terrace overlooking the harbour, two restaurants with three Michelin stars each, including the spectacular Lung King Heen, and large suites and bathrooms. Rooms cost from HK$5,225 (Dh2,476) (www.fourseasons.com, 00852 3196 8888).
Ten minutes away by foot (the skyway system across Central is ingenious), and set on a hillside in Central next to Hong Kong Park (lovely for an early morning wander), the Conrad Hong Kong is particularly good for families. Stay above the 40th floor and you will be able to look at the harbour without lifting your head from the pillow. The kindly concierge here, Simpson, outdoes himself in family-friendly recommendations, and there's something for even the fussiest of eaters at the Italian restaurant, Nicholini's. An elevator takes you down into the Pacific Place mall and an MTR station. Rooms from about HK$3,437 (Dh1,628) (www.conradhotels.com, 00852 2521 3838).
Getting there
Direct return flights from Dubai with Emirates (www.emirates.com) from Dh 2,935 and Etihad (www.etihad.com) from Dh2,765 return, including taxes. The flight takes eight hours.
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
More coverage from the Future Forum
Tuesday's fixtures
Kyrgyzstan v Qatar, 5.45pm
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
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The specs
Engine: 2x201bhp AC Permanent-magnetic electric
Transmission: n/a
Power: 402bhp
Torque: 659Nm
Price estimate: Dh200,000
On sale: Q3 2022
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House-hunting
Top 10 locations for inquiries from US house hunters, according to Rightmove
- Edinburgh, Scotland
- Westminster, London
- Camden, London
- Glasgow, Scotland
- Islington, London
- Kensington and Chelsea, London
- Highlands, Scotland
- Argyll and Bute, Scotland
- Fife, Scotland
- Tower Hamlets, London
KILLING OF QASSEM SULEIMANI
Zayed Sustainability Prize
The biog
Hobbies: Writing and running
Favourite sport: beach volleyball
Favourite holiday destinations: Turkey and Puerto Rico
RedCrow Intelligence Company Profile
Started: 2016
Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel
Based: Ramallah, Palestine
Sector: Technology, Security
# of staff: 13
Investment: $745,000
Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Why seagrass matters
- Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
- Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
- Biodiversity: Support species like sea turtles, dugongs, and seabirds
- Coastal protection: Reduce erosion and improve water quality
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
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The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
Score
Third Test, Day 1
New Zealand 229-7 (90 ov)
Pakistan
New Zealand won the toss and elected to bat
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Afghanistan Premier League - at a glance
Venue: Sharjah Cricket Stadium
Fixtures:
Tue, Oct 16, 8pm: Kandahar Knights v Kabul Zwanan; Wed, Oct 17, 4pm: Balkh Legends v Nangarhar Leopards; 8pm: Kandahar Knights v Paktia Panthers; Thu, Oct 18, 4pm: Balkh Legends v Kandahar Knights; 8pm: Kabul Zwanan v Paktia Panthers; Fri, Oct 19, 8pm: First semi-final; Sat, Oct 20, 8pm: Second semi-final; Sun, Oct 21, 8pm: final
Table:
1. Balkh Legends 6 5 1 10
2. Paktia Panthers 6 4 2 8
3. Kabul Zwanan 6 3 3 6
4. Nagarhar Leopards 7 2 5 4
5. Kandahar Knights 5 1 4 2
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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