Apple’s latest operating system to let users unlock iPhones while wearing masks

Apple rolled out the beta, or test, version of its latest iOS 14.5 operating system that will allow users to unlock their iPhones using face recognition while wearing a mask.

The new feature allows users to link their iPhones with their Apple Watch to use as an additional authentication method.

Both the iPhone and the unlocked Apple Watch should be in close proximity. Users need to lift the iPhone, which will lead to a haptic sensation on the watch that will indicate that the iPhone is unlocked.

Although this feature unlocks the iPhone, users still need to manually add passcodes to process App Store or iTunes purchases if their faces are still covered.

To ensure security is not compromised, users will be asked to type their passcode every few hours even when the ‘unlock with Apple Watch’ feature is enabled.

Apple already offers a similar feature on the Mac, where users can unlock their computer using an Apple Watch. They need to be signed in to iCloud using the same Apple ID on both Mac and Apple Watch.

Google-owned Android is already offering a similar ‘smart lock’ feature that reduces the number of times users need to type a passcode or draw a pattern to unlock their smartphone or tablet.

The company’s iOS 14.5 software is also expected to introduce a new feature allowing multiple people to use the same Apple Card account.

The main account holder can set spending limits and also invite family members or friends to use the ‌Apple Card‌ account, reported MacRumors. Family spending will be available for viewing in the wallet app.

App developers will also need to ask for explicit user permission before tracking users’ activity when iOS 14.5 is released. This will restrict how technology giants such as Facebook and Google gather data about users to target ads.

Facebook chief executive Mark Zuckerberg criticised Apple for rolling out this new feature, saying it would make it harder the social media giant's advertising customers to target their messages and would hurt small businesses that are reliant on this service. The company added the iOS changes could curb its revenue growth.

Last week, Apple's chief executive Tim Cook lambasted other technology giants for “data exploitation” and called for reforms to how user data is sold to advertisers.

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Closing the loophole on sugary drinks

As The National reported last year, non-fizzy sugared drinks were not covered when the original tax was introduced in 2017. Sports drinks sold in supermarkets were found to contain, on average, 20 grams of sugar per 500ml bottle.

The non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.

Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.

Flavoured water, long-life fruit juice concentrates, pre-packaged sweetened coffee drinks fall under the ‘sweetened drink’ category

Not taxed:

Freshly squeezed fruit juices, ground coffee beans, tea leaves and pre-prepared flavoured milkshakes do not come under the ‘sweetened drink’ band.

Benefits of first-time home buyers' scheme

Priority access to new homes from participating developers
Discounts on sales price of off-plan units
Flexible payment plans from developers
Mortgages with better interest rates, faster approval times and reduced fees
DLD registration fee can be paid through banks or credit cards at zero interest rates

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.”