Carrie Lam, right, was sworn in as Hong Kong's new Chief Executive with her new cabinet during an inauguration ceremony in Hong Kong, China on July 1, 2017. Keith Tsuji/Getty Images
Carrie Lam, right, was sworn in as Hong Kong's new Chief Executive with her new cabinet during an inauguration ceremony in Hong Kong, China on July 1, 2017. Keith Tsuji/Getty Images
Carrie Lam, right, was sworn in as Hong Kong's new Chief Executive with her new cabinet during an inauguration ceremony in Hong Kong, China on July 1, 2017. Keith Tsuji/Getty Images
Carrie Lam, right, was sworn in as Hong Kong's new Chief Executive with her new cabinet during an inauguration ceremony in Hong Kong, China on July 1, 2017. Keith Tsuji/Getty Images

China warns Hong Kong not to cross 'red line' as new leader is sworn in


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HONG KONG // Chinese president Xi Jinping swore in Hong Kong's new leader on Saturday with a stark warning that Beijing will not tolerate any challenge to its authority in the divided city as it marked the 20th anniversary of its return from Britain to China.

Police blocked roads, preventing pro-democracy protesters from getting to the harbour-front venue close to where the last colonial governor, Chris Patten, tearfully handed back Hong Kong to China in the pouring rain in 1997.

Mr Xi said Hong Kong should crack down on moves towards "Hong Kong independence".

"Any attempt to endanger China's sovereignty and security, challenge the power of the central government … or use Hong Kong to carry out infiltration and sabotage activities against the mainland is an act that crosses the red line and is absolutely impermissible," Mr Xi said in a sweeping speech that touched upon the "humiliation and sorrow" China suffered during the first Opium War in the early 1840s that led to the ceding of Hong Kong to the British.

Hong Kong has been racked by demands for full democracy and, more recently, by calls by some pockets of protesters for independence, a subject that is anathema to Beijing.

Mr Xi's speech was his strongest yet to the city at a time of heightened social and political tensions and concerns over what some in Hong Kong perceive as increased meddling by Beijing in the city's affairs.

Under Hong Kong's mini-constitution, the Basic Law, the financial hub is guaranteed wide-ranging autonomy and freedoms for "at least 50 years" after 1997 under a "one country, two systems" formula praised by Mr Xi. It also specifies universal suffrage as an eventual goal.

But Beijing's refusal to grant universal suffrage to Hong Kong triggered nearly three months of street protests in 2014 that at times erupted into violent clashes and posed one of the greatest populist challenges to the central government in decades.

Mr Xi, dressed in a dark suit and striped red tie, was addressing a packed hall of dignitaries and mostly pro-Beijing establishment figures, speaking for more than 30 minutes, after swearing in Hong Kong's first female leader, Carrie Lam.

"I will, as I always have … firmly take actions in accordance with the law against any acts that will undermine the country's sovereignty, security and development interests," Ms Lam said after she was sworn in along with her cabinet.

Mr Xi hinted that the central government was in favour of Hong Kong introducing "national security" legislation, a controversial issue that brought nearly half a million people to the streets in protest in 2003 and ultimately forced former leader Tung Chee-hwa to step down.

"Hong Kong needs to improve its systems to uphold national sovereignty, security and development interests. It needs to enhance education and raise public awareness of history and culture of the Chinese nation," he said.

In the afternoon, tens of thousands gathered in sweltering heat in a sprawling park named after Britain's Queen Victoria, demanding Mr Xi allow universal suffrage. Organisers put the figure at more than 60,000.

"Xi shouldn't be interfering in Hong Kong too much," Peter Lau, a 20-year-old university student, said. "Despite him visiting garrisons and muscle-flexing, Hong Kong people's confidence will never be shaken. Especially for our generation. We should … fight for our freedom."

Some demonstrators marched with yellow umbrellas, a symbol of democratic activism in the city, and held banners denouncing China's Communist "one party rule".

Others criticised China's foreign ministry which on Friday said the "Joint Declaration" with Britain over Hong Kong, a treaty laying the blueprint over how the city would be ruled after 1997, "no longer has any practical significance".

* Reuters

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Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
  • Drones
  • Animals
  • Fireworks/ flares
  • Radios or power banks
  • Laser pointers
  • Glass
  • Selfie sticks/ umbrellas
  • Sharp objects
  • Political flags or banners
  • Bikes, skateboards or scooters
What is the FNC?

The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning. 
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval. 
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
 

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WORLD CUP SEMI-FINALS

England v New Zealand (Saturday, 12pm)

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Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

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Bert van Marwijk factfile

Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder

Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia

Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands

All%20The%20Light%20We%20Cannot%20See%20
%3Cp%3E%3Cstrong%3ECreator%3A%20%3C%2Fstrong%3ESteven%20Knight%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%C2%A0%3C%2Fstrong%3EMark%20Ruffalo%2C%20Hugh%20Laurie%2C%20Aria%20Mia%20Loberti%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E1%2F5%C2%A0%3C%2Fp%3E%0A

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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Trump v Khan

2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US

2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks

2019: Trump calls Khan a “stone cold loser” before first state visit

2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”

2022:  Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency

July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”

Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.

Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”

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