British officials are considering changes to the country's travel corridors that could mean travellers flying from the UAE and a number of other countries to Britain face a Covid-19 PCR test requirement.
Ahead of a Thursday meeting of the committee summit, consideration was being given to changing the corridor rules to include a negative test result up to 72 hours before departure, The National can disclose.
The UAE, Saudi Arabia, Bahrain, Israel and Qatar are among more than 50 nations exempt from having travellers tested or being required to self-isolate for 10 days upon arrival in the UK.
The introduction of the corridors allowed thousands to take breaks outside the UK over the Christmas and New Year period.
“It is clear that the government is going to introduce pre-testing up to 72 hours before travel, likely to be the PCR [polymerase chain reaction] test,” said a senior Whitehall source.
“There’s a strong demand for it and it will be brought in.” Travellers arriving in Britain will now have to prove that they’ve had the test.
A ‘Covid-O’ summit chaired by Prime Minister Boris Johnson will meet to sign off new requirements for people wishing to enter the UK.
A decision is expected to be finalised by Thursday afternoon setting out the restrictions and any exemptions, such as for diplomats, scientists, trade delegates and critical workers.
There will also be a decision on whether all or any of the 50 countries within the UK travel corridor will be excused.
“It could either be a blanket restriction on countries on the list or a few could still be exempted,” said the source.
“That’s the decision that has to be made at the highest level on whether people in these countries will have to take the test and potentially then quarantine on arrival.”
It will also be decided if the rules apply to foreign nationals and British citizens.
Concerns over new variant permeate
The British government has been criticised for having no enforcement system for self-isolation rules and no pre-flight test requirements.
The country is currently in full lockdown with new cases of coronavirus infections running at more than 60,000 a day.
Mr Johnson indicated that tightened restrictions were likely. “We will be bringing in measures to ensure that we test people coming into this country and prevent the virus being readmitted,” he said on Tuesday.
"It is especially worrying given the concerns regarding mutation of the virus that emerged in South Africa
It is understood that travellers currently in Dubai, Abu Dhabi and elsewhere will be given a few days’ notice in order to change their flights if they want to get to back to Britain before the new rules come into force.
While pre-testing before air travel may not prevent the spread of the virus significantly, it is expected to catch a number of travellers with Covid-19 before they enter an aircraft and potentially pass it on to passengers.
The rule has been in force in many countries including the US, European Union nations, China and most Gulf States for several months.
Labour’s shadow home secretary has written to the Home Secretary calling for an “urgent review and improvement plan” over concerns on infections from abroad.
“It is especially worrying given the concerns regarding mutation of the virus that emerged in South Africa,” wrote Nick Thomas-Symonds to Priti Patel.
“However, the lack of a robust quarantine system as a result of shortcomings from the government mean that it is virtually impossible to keep a grip on this spread or other variants that may come from overseas, leaving the UK defenceless, and completely exposed, with the nation's doors unlocked to further Covid mutations.”
SUZUME
%3Cp%3EDirector%3A%20Makoto%20Shinkai%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Nanoka%20Hara%2C%20Hokuto%20Matsumura%2C%20Eri%20Fukatsu%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
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.”
Dengue%20fever%20symptoms
%3Cp%3EHigh%20fever%20(40%C2%B0C%2F104%C2%B0F)%3Cbr%3ESevere%20headache%3Cbr%3EPain%20behind%20the%20eyes%3Cbr%3EMuscle%20and%20joint%20pains%3Cbr%3ENausea%3Cbr%3EVomiting%3Cbr%3ESwollen%20glands%3Cbr%3ERash%26nbsp%3B%3C%2Fp%3E%0A
