France has agreed to open its borders to travellers leaving the UK for the first time since the UK revealed a highly infectious mutated form of coronavirus was spreading through the country.
The country will allow EU citizens, Britons and nationals of other countries who normally reside in the EU to travel from Britain from Wednesday, the French prime minister's office said.
All travellers will be required to show a negative Covid-19 test no more than 72 hours old, and the test must be capable of detecting the new variant of coronavirus.
"Good progress today and agreement with the French Government on borders," British Transport Secretary Grant Shapps tweeted. "We will provide an update on hauliers later this evening, but hauliers must still NOT travel to Kent this evening."
France led the way in closing the borders after details of the mutant virus, which is 70 per cent more infectious than the earlier incarnation, were revealed on Saturday..
Hours before the French decision, the European Union urged its 27 member states to end travel bans with the UK
UK scientists identified a new strain of the virus prompting more than 40 countries to suspend flights from the UK. But European nations including France, Germany, Denmark and the Netherlands also identified cases of the faster-spreading strain.
On Tuesday, Commissioner for Justice Didier Reynders said: “Blanket travel bans should not prevent thousands of EU and UK citizens from returning to their homes.”
The most stringent restrictions were imposed by France, which closed its borders to all travel from the UK for 48 hours from Sunday night, including hauliers carrying goods on the key Dover-to-Calais ferry route.
More than 1,500 lorries queued outside the southern coastal port of Dover.
The EU Commission recommended on Tuesday that "transport staff within the EU should be exempted from any travel ban across any border and from testing and quarantine requirements when they are travelling across a border to and from a vessel, vehicle, or aircraft".
It said the measure would apply to the UK until the end of the year when it is scheduled to sever all its links with the bloc after Brexit, unless a late deal is struck.
The UK is facing huge economic upheaval with a deal increasingly unlikely with its largest trading partner. Billions were wiped off the value of the UK’s top 100 companies with the leading FTSE index down more than 2.5 per cent on Monday. On Tuesday, it dropped 0.2 per cent with materials and energy shares leading the decline.
The new strain is up to 70 per cent more infectious and led the British government at the weekend to introduce tighter restrictions on London and surrounding areas.
On Tuesday, the UK's Department of Health said there had been 691 Covid-related deaths, the highest daily increase since November 25. A record number of new infections were also reported after 36,804 people tested positive for the virus.
Jeffrey Barrett, lead Covid-19 statistical geneticist at Covid-19 Genomics UK, said the consortium sampled cases around the UK and found the variant in the south-west, Midlands and north of England, areas under Tier 2 and 3 restrictions.
He said on Tuesday: “It is certainly not isolated in one place, it has begun to spread to many places in England.”
Chief scientific officer Sir Patrick Vallance said on Monday that the new strain was already being seen elsewhere in the UK and therefore tighter restrictions were likely to be imposed.
Meanwhile, Ireland will impose another strict lockdown amid “enormous concern” over the spread of the virus with cases rising at an alarming rate.
Restaurants, pubs and most shops in the country will shut on Christmas Eve and may not open again until early March, the government said on Tuesday.
Prime Minister Micheal Martin said there was no evidence that a new, virulent variant of the virus that has isolated Britain had reached Ireland but the safest approach was to assume it had.
Ireland has one of the lowest incidence rates of Covid-19 in Europe having moved early in October to temporarily shut parts of the economy during the second wave. However, daily cases are now rising by 10 per cent in what health chiefs say is clearly a third wave of infections.
"One of the real concerns that we have is that unlike the second wave, the virus seems to be affecting older people in quite high numbers and that is causing us enormous concern," Deputy Prime Minister Leo Varadkar said.
Hairdressers will be shut, while hotels can be used only to accommodate essential workers. Schools and childcare facilities will not be affected and the measures will be reviewed on January 12.
The travel restrictions from Britain come at a difficult time for many British companies, which are engaged in last-minute stockpiling before December 31, when a status quo transition period with the European Union ends and new Customs rules come into effect.
The prime minister’s official spokesman said talks between the two sides were continuing to try to resolve “significant differences” and that the discussions were difficult.
Meanwhile, the co-founder of BioNTech said on Tuesday it was "highly likely" that its vaccine against the coronavirus works against the mutated strain detected in Britain, but it could also adapt the vaccine, if necessary.
"Scientifically, it is highly likely that the immune response by this vaccine can also deal with the new virus variant," Ugur Sahin said.
"In principle, the beauty of the messenger technology is that we can directly start to engineer a vaccine which completely mimics this new mutation – we could be able to provide a new vaccine technically within six weeks."
The coronavirus is constantly changing as it spreads around the world. No mutated virus has so far been proved to be more virulent than others or able to easily overcome the barriers, such as social distancing, face masks and frequent hand-washing, which are currently recommended.
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Washmen Profile
Date Started: May 2015
Founders: Rami Shaar and Jad Halaoui
Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
Read more about the coronavirus
Karwaan
Producer: Ronnie Screwvala
Director: Akarsh Khurana
Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar
Rating: 4/5
The%20specs
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De De Pyaar De
Produced: Luv Films, YRF Films
Directed: Akiv Ali
Cast: Ajay Devgn, Tabu, Rakul Preet Singh, Jimmy Sheirgill, Jaaved Jaffrey
Rating: 3.5/5 stars
The Bio
Amal likes watching Japanese animation movies and Manga - her favourite is The Ancient Magus Bride
She is the eldest of 11 children, and has four brothers and six sisters.
Her dream is to meet with all of her friends online from around the world who supported her work throughout the years
Her favourite meal is pizza and stuffed vine leaves
She ams to improve her English and learn Japanese, which many animated programmes originate in
The biog
Job: Fitness entrepreneur, body-builder and trainer
Favourite superhero: Batman
Favourite quote: We must become the change we want to see, by Mahatma Gandhi.
Favourite car: Lamborghini
Five healthy carbs and how to eat them
Brown rice: consume an amount that fits in the palm of your hand
Non-starchy vegetables, such as broccoli: consume raw or at low temperatures, and don’t reheat
Oatmeal: look out for pure whole oat grains or kernels, which are locally grown and packaged; avoid those that have travelled from afar
Fruit: a medium bowl a day and no more, and never fruit juices
Lentils and lentil pasta: soak these well and cook them at a low temperature; refrain from eating highly processed pasta variants
Courtesy Roma Megchiani, functional nutritionist at Dubai’s 77 Veggie Boutique
THE SPECS
Engine: 1.5-litre
Transmission: 6-speed automatic
Power: 110 horsepower
Torque: 147Nm
Price: From Dh59,700
On sale: now
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Tips from the expert
Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
- Sellers should focus on providing high-quality used goods at attractive prices to buyers.
- It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
- Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
- Be creative and look around your home for valuable items that you no longer need but might be useful to others.
Health Valley
Founded in 2002 and set up as a foundation in 2006, Health Valley has been an innovation in healthcare for more than 10 years in Nijmegen, the Netherlands.
It serves as a place where companies, businesses, universities, healthcare providers and government agencies can collaborate, offering a platform where they can connect and work together on healthcare innovation.
Its partners work on technological innovation, new forms of diagnostics and other methods to make a difference in healthcare.
Its agency consists of eight people, four innovation managers and office managers, two communication advisers and one director. It gives innovation support to businesses and other parties in its network like a broker, connecting people with the right organisation to help them further
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
The%20specs
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STAR%20WARS%20JEDI%3A%20SURVIVOR
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PREMIER LEAGUE FIXTURES
All times UAE ( 4 GMT)
Saturday
West Ham United v Tottenham Hotspur (3.30pm)
Burnley v Huddersfield Town (7pm)
Everton v Bournemouth (7pm)
Manchester City v Crystal Palace (7pm)
Southampton v Manchester United (7pm)
Stoke City v Chelsea (7pm)
Swansea City v Watford (7pm)
Leicester City v Liverpool (8.30pm)
Sunday
Brighton and Hove Albion v Newcastle United (7pm)
Monday
Arsenal v West Bromwich Albion (11pm)
Turkish Ladies
Various artists, Sony Music Turkey
Porsche Macan T: The Specs
Engine: 2.0-litre 4-cyl turbo
Power: 265hp from 5,000-6,500rpm
Torque: 400Nm from 1,800-4,500rpm
Transmission: 7-speed dual-clutch auto
Speed: 0-100kph in 6.2sec
Top speed: 232kph
Fuel consumption: 10.7L/100km
On sale: May or June
Price: From Dh259,900
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
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.”