England has emerged from its month-long coronavirus lockdown but most of the country remains under tough restrictions designed to clamp down on the spread of Covid-19.
The country had been in lockdown since November 2 to curb the infection rate and ease pressure on the hospital network.
However, 99 per cent of the country was placed under the toughest two levels of restrictions after the three-tier Covid alert system was approved in the House of Commons on Tuesday night.
Just 1 per cent of the country - the south-west county of Cornwall, and the far-flung Isles of Scilly, and the Isle of Wight in the south - is under the less restrictive level one.
The government said the move would help "safeguard the gains made during the past month", but 55 Tories still voted against Prime Minister Boris Johnson's plan.
It was the biggest revolt against Mr Johnson since he was elected last year.
Mr Johnson and Health Secretary Matt Hancock reportedly stood at the door of the room that rebelling MPs walked through to cast their no vote.
Craig Mackinlay, Tory MP for South Thanet, said a constituent had sent him a photo of their elderly father, who “looked broken” after months of lockdown.
“We are breaking older people where there is nothing left to live for,” he said.
Sir Charles Walker, vice-chairman of the powerful 1922 Committee, said older people needed to be consulted about coronavirus decisions, warning: “They’ve been denied the touch of the people that they love.”
"We have kept families apart for the good of an old person that is desperate to see their child, is desperate to be cared for by their daughter in their final months and weeks," he said.
He added: “They love their children and grandchildren and want to see them prosper, they want to see them have the same chances and opportunities that they had in their life.”
Across England, non-essential shops in "Tier 2" are allowed to reopen, hoping to improve a dismal year with bumper sales in the run up to Christmas - traditionally a money-spinner.
Mixing of households outside support bubbles remains banned under the guidelines, although individuals can meet in groups of six outside.
The capital and driving force of the UK economy, London, is in Tier 2, meaning pubs where food is served and restaurants can reopen, obeying social distancing rules.
But in Tier 3 areas, which take in some 23 million people and include Britain's second city Birmingham, hospitality venues will remain closed except for takeaways.
The restrictions have prompted fresh concerns for the economy, which finance minister Rishi Sunak said is facing a 11.3 per cent contraction this year - the worst in 300 years.
Those fears were stoked further this week by the collapse of retail group Arcadia, which owns popular high-street stores Topshop and Burton, and the Debenhams chain of department stores.
Both went into administration, blaming the impact of coronavirus restrictions on trade that was already under pressure from online competitors.
The main opposition Labour Party chose to abstain from Tuesday's vote, criticising the government for failing to offer more financial support to the beleaguered hospitality sector.
Last month, a survey of pub and restaurant industry bodies suggested almost three-quarters of UK hospitality venues would be forced to shut in 2021 without more government help.
Britain has recorded the highest number of fatalities in Europe in the pandemic with more than 59,000 deaths from some 1.65 million cases.
But Imperial College London study this week indicated the month-long shutdown helped push down the number of cases by nearly a third, raising hopes of less stringent measures.
The government previously announced plans for a Christmas reprieve, with three households allowed to gather indoors from December 23 to 27.
The tiered system - a different approach from the three other nations in the UK, Scotland, Wales and Northern Ireland, whose devolved administrations set their own health policy - will be reviewed every two weeks.
The first assessment is due on December 16, but the government has said a further relaxation of restrictions before Christmas is unlikely.
F1 drivers' standings
1. Lewis Hamilton, Mercedes 281
2. Sebastian Vettel, Ferrari 247
3. Valtteri Bottas, Mercedes 222
4. Daniel Ricciardo, Red Bull 177
5. Kimi Raikkonen, Ferrari 138
6. Max Verstappen, Red Bull 93
7. Sergio Perez, Force India 86
8. Esteban Ocon, Force India 56
More coverage from the Future Forum
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.”
'The Sky is Everywhere'
Director:Josephine Decker
Stars:Grace Kaufman, Pico Alexander, Jacques Colimon
Rating:2/5
TOUCH RULES
Touch is derived from rugby league. Teams consist of up to 14 players with a maximum of six on the field at any time.
Teams can make as many substitutions as they want during the 40 minute matches.
Similar to rugby league, the attacking team has six attempts - or touches - before possession changes over.
A touch is any contact between the player with the ball and a defender, and must be with minimum force.
After a touch the player performs a “roll-ball” - similar to the play-the-ball in league - stepping over or rolling the ball between the feet.
At the roll-ball, the defenders have to retreat a minimum of five metres.
A touchdown is scored when an attacking player places the ball on or over the score-line.
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German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
The Lowdown
Us
Director: Jordan Peele
Starring: Lupita Nyong'o, Winston Duke, Shahadi Wright Joseqph, Evan Alex and Elisabeth Moss
Rating: 4/5
Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
For more details, email openminds@cultures.ae or visit www.cultures.ae
'Ashkal'
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More Expo 2020 Dubai pavilions:
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TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
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NBA Finals so far
(Toronto lead 3-1 in best-of-seven series_
Game 1 Raptors 118 Warriors 109
Game 2 Raptors 104 Warriors 109
Game 3 Warriors 109 Raptors 123
Game 4 Warriors 92 Raptors 105
The specs
Engine: 4 liquid-cooled permanent magnet synchronous electric motors placed at each wheel
Battery: Rimac 120kWh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry
Power: 1877bhp
Torque: 2300Nm
Price: Dh7,500,00
On sale: Now
The permutations for UAE going to the 2018 World Cup finals
To qualify automatically
UAE must beat Iraq.
Australia must lose in Japan and at home to Thailand, with their losing margins and the UAE's winning margin over Iraq being enough to overturn a goal difference gap of eight.
Saudi Arabia must lose to Japan, with their losing margin and the UAE's winning margin over Iraq being enough to overturn a goal difference gap of eight.
To finish third and go into a play-off with the other third-placed AFC side for a chance to reach the inter-confederation play-off match
UAE must beat Iraq.
Saudi Arabia must lose to Japan, with their losing margin and the UAE's winning margin over Iraq being enough to overturn a goal difference gap of eight.