• Then British prime minister David Cameron on his campaign bus in June 2016. Five years ago, British people voted in a referendum that was meant to bring certainty to the UK’s fraught relationship with its European neighbours. The decision on June 23, 2016 was narrow but clear: By 52 per cent to 48 per cent, they chose to leave the EU. AP photo.
    Then British prime minister David Cameron on his campaign bus in June 2016. Five years ago, British people voted in a referendum that was meant to bring certainty to the UK’s fraught relationship with its European neighbours. The decision on June 23, 2016 was narrow but clear: By 52 per cent to 48 per cent, they chose to leave the EU. AP photo.
  • David Cameron and his wife Samantha leave after casting their votes in the EU referendum at a polling station in London. AP Photo
    David Cameron and his wife Samantha leave after casting their votes in the EU referendum at a polling station in London. AP Photo
  • Voters head to the polls on June 23, 2016 in Belfast, Northern Ireland. Getty Images
    Voters head to the polls on June 23, 2016 in Belfast, Northern Ireland. Getty Images
  • Nigel Farage, the leader of the UK Independence Party, celebrates and poses for photographers during a "Leave EU" party in London, in June 2016, after the voters chose to leave. AP Photo
    Nigel Farage, the leader of the UK Independence Party, celebrates and poses for photographers during a "Leave EU" party in London, in June 2016, after the voters chose to leave. AP Photo
  • Queen Elizabeth II welcomes Theresa May at an audience where she invited the former home secretary to become prime minister and form a new government, on July 13, 2016. Getty Images
    Queen Elizabeth II welcomes Theresa May at an audience where she invited the former home secretary to become prime minister and form a new government, on July 13, 2016. Getty Images
  • After calling a snap general election in June 2017, Theresa May negotiated a deal between her party and Democratic Unionist Party to support a minority government. Getty Images
    After calling a snap general election in June 2017, Theresa May negotiated a deal between her party and Democratic Unionist Party to support a minority government. Getty Images
  • Theresa May and members of her Cabinet at the country retreat Chequers on July 6, 2018, where Ms May's new Brexit plans were agreed. Getty Images
    Theresa May and members of her Cabinet at the country retreat Chequers on July 6, 2018, where Ms May's new Brexit plans were agreed. Getty Images
  • Theresa May delivers a statement at Downing Street on November 14, 2018, after her Cabinet of senior ministers met and approved the wording of the draft Brexit agreement. Getty Images
    Theresa May delivers a statement at Downing Street on November 14, 2018, after her Cabinet of senior ministers met and approved the wording of the draft Brexit agreement. Getty Images
  • Pro-EU campaigners stage a stunt outside Houses of Parliament involving a ship dubbed HMS Brexit on January 15, 2019 - the day MPs rejected May's Brexit plans in a vote. Getty Images
    Pro-EU campaigners stage a stunt outside Houses of Parliament involving a ship dubbed HMS Brexit on January 15, 2019 - the day MPs rejected May's Brexit plans in a vote. Getty Images
  • Then president of the European Council Donald Tusk and Theresa May at a round table meeting on April 10, 2019 in Brussels. The EU agreed to a flexible extension to Brexit until October 31. Getty Images
    Then president of the European Council Donald Tusk and Theresa May at a round table meeting on April 10, 2019 in Brussels. The EU agreed to a flexible extension to Brexit until October 31. Getty Images
  • Theresa May outside 10 Downing Street on May 24, 2019 to announce that she would resign on June 7, 2019. Getty Images
    Theresa May outside 10 Downing Street on May 24, 2019 to announce that she would resign on June 7, 2019. Getty Images
  • Newly-elected Conservative party leader Boris Johnson poses outside the Conservative Leadership Headquarters on July 23, 2019. Getty Images
    Newly-elected Conservative party leader Boris Johnson poses outside the Conservative Leadership Headquarters on July 23, 2019. Getty Images
  • The Supreme Court rules that the prorogation of Parliament was unlawful on September 24, 2019. Britain's top court said that Prime Minster Boris Johnson acted unlawfully in August 2019 when he requested that the queen prorogue parliament for more than a month. Getty Images
    The Supreme Court rules that the prorogation of Parliament was unlawful on September 24, 2019. Britain's top court said that Prime Minster Boris Johnson acted unlawfully in August 2019 when he requested that the queen prorogue parliament for more than a month. Getty Images
  • With the campaign message 'Get Brexit Done' Boris Johnson wins a landslide general election in December 2019. Getty Images
    With the campaign message 'Get Brexit Done' Boris Johnson wins a landslide general election in December 2019. Getty Images
  • Anti-Brexit activists protest outside the Houses of Parliament on January 9, 2020, the day Boris Johnson's Withdrawal Agreement Bill went through the commons after a vote. Getty Images
    Anti-Brexit activists protest outside the Houses of Parliament on January 9, 2020, the day Boris Johnson's Withdrawal Agreement Bill went through the commons after a vote. Getty Images
  • Pro-Brexit supporters celebrate as the UK exits the EU, at Parliament Square on January 31, 2020. Getty Images
    Pro-Brexit supporters celebrate as the UK exits the EU, at Parliament Square on January 31, 2020. Getty Images
  • David Frost and Michel Barnier begin formal negotiations on the future relationship between the EU and UK on March 2, 2020, in Brussels. Getty Images
    David Frost and Michel Barnier begin formal negotiations on the future relationship between the EU and UK on March 2, 2020, in Brussels. Getty Images
  • Boris Johnson and Ursula von der Leyen meet for dinner on December 9, 2020, in Brussels. Getty Images
    Boris Johnson and Ursula von der Leyen meet for dinner on December 9, 2020, in Brussels. Getty Images
  • Lorries parked on the runway at Manston airport as they wait to cross the English Channel on December 22, 2020. France halted freight and passenger travel from the UK over concerns about surging Covid-19 cases. Getty Images
    Lorries parked on the runway at Manston airport as they wait to cross the English Channel on December 22, 2020. France halted freight and passenger travel from the UK over concerns about surging Covid-19 cases. Getty Images
  • Ursula von der Leyen and Charles Michel attend a Brexit signature ceremony on December 30, 2020, in Brussels, after an agreement was reached. Getty Images
    Ursula von der Leyen and Charles Michel attend a Brexit signature ceremony on December 30, 2020, in Brussels, after an agreement was reached. Getty Images
  • A man waves flags as he drives past Brexit supporters gathering in Parliament Square, in central London, on the day that the UK formally left the European Union - January 31, 2020. AFP
    A man waves flags as he drives past Brexit supporters gathering in Parliament Square, in central London, on the day that the UK formally left the European Union - January 31, 2020. AFP
  • French fishing boats protest in front of the port of Saint Helier off the British island of Jersey to draw attention to what they see as unfair restrictions on their ability to fish in UK waters after Brexit, on May 6, 2021. AFP
    French fishing boats protest in front of the port of Saint Helier off the British island of Jersey to draw attention to what they see as unfair restrictions on their ability to fish in UK waters after Brexit, on May 6, 2021. AFP
  • Empty supermarket shelves are seen on July 23, 2021 in London. There were reports that some supermarkets had been emptying of fresh produce and household staples as Brexit lorry shortages combined with large numbers of staff isolating due to Covid-19 frustrated efforts to restock shelves. Getty Images
    Empty supermarket shelves are seen on July 23, 2021 in London. There were reports that some supermarkets had been emptying of fresh produce and household staples as Brexit lorry shortages combined with large numbers of staff isolating due to Covid-19 frustrated efforts to restock shelves. Getty Images
  • A man takes part in a driving lesson at the NDC heavy goods vehicle training centre on September 22, 2021 in Croydon, England. The combined forces of Brexit and Covid-19 created a severe shortage of HGV drivers in the UK. Getty Images
    A man takes part in a driving lesson at the NDC heavy goods vehicle training centre on September 22, 2021 in Croydon, England. The combined forces of Brexit and Covid-19 created a severe shortage of HGV drivers in the UK. Getty Images
  • Anti-Brexit protesters wave the flags of the United Kingdom, Ireland and European Union outside Parliament on October 13, 2021. Getty Images
    Anti-Brexit protesters wave the flags of the United Kingdom, Ireland and European Union outside Parliament on October 13, 2021. Getty Images
  • Protestors take part in a demonstration on November 20, 2021 in Newry, Northern Ireland, as fears grew that the UK government will trigger Article 16 which could see a return to a so called hard border. Getty Images
    Protestors take part in a demonstration on November 20, 2021 in Newry, Northern Ireland, as fears grew that the UK government will trigger Article 16 which could see a return to a so called hard border. Getty Images

Five years of Brexit: famous London restaurants unable to find staff for daytime trading


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Two of London's famous Michelin-starred restaurants have closed for lunchtime trading because of a staffing crisis caused by Brexit and the coronavirus pandemic.

On Wednesday, Prime Minister Boris Johnson hailed the fifth anniversary of the Brexit referendum as an opportunity to create more jobs and revitalise Britain.

But David Moore, the founder of Pied a Terre in London, said that the hospitality industry was facing a recruitment crisis because of the large number of foreign citizens leaving the country.

Mr Moore said Brexit was "definitely the biggest" factor behind the staff shortage that has forced him to close at lunchtimes.

French celebrity chef Michel Roux Jr, who owns the two Michelin-starred Le Gavroche restaurant in upmarket Mayfair, said it was “incredibly frustrating and painful” that he was also being forced to close at lunchtimes.

"The past year has sadly taken a great toll on the hospitality industry, but with restaurants finally being allowed to reopen, to everybody's relief, there is still a trickle effect of major problems affecting our industry, in this instance, staffing," he said.
"Since opening, restaurants up and down the country have suffered greatly with staffing problems partly due to new Brexit regulations as well as there now being a major lack of well-trained hospitality professionals since the pandemic struck.

“Whilst we have been working our hardest to resolve this issue over the last couple of months, Le Gavroche is sadly understaffed for the time being.”

UK Hospitality says 1.3 million foreign workers left the UK during the pandemic, ahead of next week's deadline for EU citizens living in the UK to apply for settled status.

Michel Roux Jr at his restaurant Le Gavroche in London. Shutterstock
Michel Roux Jr at his restaurant Le Gavroche in London. Shutterstock

So far 5.6 million applications have been received – significantly more than the 3.7 million the government estimated.

In some London boroughs the number of applicants was 80 per cent higher than their estimated population of EU citizens.

But Mr Moore said people were not responding to job adverts despite the salaries advertised.

"I don't know anybody who is not looking for a kitchen porter," he told the BBC.

Mr Johnson, the face of the successful Vote Leave campaign, said the referendum in 2016 and subsequent divorce from the bloc had given Britain an opportunity to “seize the true potential of our regained sovereignty”.

“With control over our regulations and subsidies, and with freeports driving new investment, we will spur innovation, jobs and renewal across every part of our country,” he said.

“The decision to leave the EU may now be part of our history but our clear mission is to utilise the freedom it brings to shape a better future for our people.”

But Mr Johnson’s enthusiasm is not shared by the majority of the UK, new poll results indicate.

A survey by Savanta ComRes found that if the referendum were held today the result would be a narrow win for Remain – by 51 per cent to 49 per cent – if those undecided were discounted.

On June 23, 2016, 51.9 per cent voted Leave and 48.1 per cent Remain.

The poll found that 6 per cent of Remain voters in 2016 would now vote Leave and 7 per cent of Leave voters would support Remain.

About a third of respondents – 31 per cent – regard Brexit as a success, with the same proportion viewing it as a failure.

The divided views stem from years of political instability leading to Mr Johnson's resounding election victory in December 2019.

He succeeded former prime minister Theresa May, who resigned after failing to unite the ruling Conservative Party behind her Brexit deal with the EU.

Mrs May's woes started after a damaging strategic error in 2017 when she called a snap election to strengthen her negotiating position with the bloc.

But she ended up losing her majority in the House of Commons.

Her predecessor David Cameron resigned as prime minister hours after the referendum result was announced.

Boris Johnson was the face of the Vote Leave campaign for the referendum in 2016 before later becoming lPrie Minister. EPA
Boris Johnson was the face of the Vote Leave campaign for the referendum in 2016 before later becoming lPrie Minister. EPA

Joao Vale de Almeida, the EU ambassador to the UK, said Brexit was "done, in a way, but not done, in another way".

"I think the worst way to respect Brexit is to keep fighting battles of the past and to keep trying to score points on disputes of the past," he told The Times.

Reflecting on the future of the UK and the EU, he said: “I don’t know what our relationship will be in 20 years’ time. I don’t know what the EU will be like in 20 years.

“And maybe I don’t know what your union here will be like in 20 years’ time. Who knows? So we have to be ready for change.”

The UK is facing several major issues linked to Brexit since the split.

In Northern Ireland, a dispute over the trading arrangement that effectively treats the province as part of the EU has threatened to collapse the power-sharing arrangement at Stormont.

Police also warned about the possibility of further violence in the province after numerous incidents in recent months.

In May, Britain's Royal Navy was sent to Jersey after French fishermen threatened a blockade in a dispute over fishing rights in waters off the British crown dependency.

Meanwhile, Scottish First Minister Nicola Sturgeon – buoyed by election results in May – is pushing for a second independence referendum.

Lord Michael Heseltine, a former deputy prime minister and now the president of campaign group European Movement, said the situation was chaotic.

“Five years on, Brexit is far from ‘done’. It has only just begun and the forecast is ominous,” he said.

“Storm clouds are gathering on the horizon, chief among them the threat to the Good Friday peace agreement in Northern Ireland.”

The main opposition Labour Party also cited the unrest in Northern Ireland as among Mr Johnson’s most pressing issues.

“There is a direct line from the prime minister’s dishonesty over the deal he negotiated, to the instability we see in Northern Ireland today,” Shadow Northern Ireland Secretary Louise Haigh said.

“The prime minister pledged never to put barriers down the Irish Sea and then a few months later did exactly that – this dishonesty is still having real consequences.”

The Details

Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5 

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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Director:Mike Mills

Stars:Joaquin Phoenix, Gaby Hoffmann, Woody Norman

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Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

SANCTIONED
  • Kirill Shamalov, Russia's youngest billionaire and previously married to Putin's daughter Katarina
  • Petr Fradkov, head of recently sanctioned Promsvyazbank and son of former head of Russian Foreign Intelligence, the FSB. 
  • Denis Bortnikov, Deputy President of Russia's largest bank VTB. He is the son of Alexander Bortnikov, head of the FSB which was responsible for the poisoning of political activist Alexey Navalny in August 2020 with banned chemical agent novichok.  
  • Yury Slyusar, director of United Aircraft Corporation, a major aircraft manufacturer for the Russian military.
  • Elena Aleksandrovna Georgieva, chair of the board of Novikombank, a state-owned defence conglomerate.
UAE currency: the story behind the money in your pockets
Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

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Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis

Rating: 2/5

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Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

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Director: Brady Corbet

Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn

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