Activist Alexandra Wong, also known as Grandma Wong, waves the British flag outside the Wanchai district court in Hong Kong, on December 13, 2021, where activists were being tried for taking part in a banned vigil. AFP
Activist Alexandra Wong, also known as Grandma Wong, waves the British flag outside the Wanchai district court in Hong Kong, on December 13, 2021, where activists were being tried for taking part in a banned vigil. AFP
Activist Alexandra Wong, also known as Grandma Wong, waves the British flag outside the Wanchai district court in Hong Kong, on December 13, 2021, where activists were being tried for taking part in a banned vigil. AFP
Activist Alexandra Wong, also known as Grandma Wong, waves the British flag outside the Wanchai district court in Hong Kong, on December 13, 2021, where activists were being tried for taking part in a

Teenagers from Hong Kong allowed to travel to UK without parents after visa change


Soraya Ebrahimi
  • English
  • Arabic

Teenagers living in Hong Kong will be able to travel to the UK without their parents after the Home Office made changes to the visa scheme.

People born on or after July 1, 1997, and aged 18 or over will be eligible to independently apply for British National Overseas visas from the autumn.

The current scheme only permits those born after 1997 to come with their parents.

As many as 11,700 young Hong Kongers could take advantage of the new visa rules, the Home Office estimates.

The change is seen as beneficial as campaigners warn that more than nine in 10 people who have faced protest charges in Hong Kong have been too young to access the visa scheme that enables residents to travel to Britain.

During mass protests in Hong Kong in 2019, more than 10,000 people were arrested.

Data compiled by advocacy group Hong Kong Watch found that 93 per cent of more than 1,000 who had been tried by July 2021 were under the age of 25.

Tory MPs including Damian Green, Iain Duncan Smith and Tom Tugendhat backed the call to change the current visa scheme.

“I’m delighted that thanks to the scheme we introduced, thousands of Hong Kongers have already made the UK their home and integrated into communities across the country,” said Home Secretary Priti Patel.

"The further changes I have announced, which will come into effect this autumn, will continue to deliver on our historic and moral commitment to the people of Hong Kong."

  • China's President Xi Jinping gives a speech at the swearing-in ceremony of Hong Kong's new chief executive, on the 25th anniversary of the city's handover from Britain to China. AFP
    China's President Xi Jinping gives a speech at the swearing-in ceremony of Hong Kong's new chief executive, on the 25th anniversary of the city's handover from Britain to China. AFP
  • The city's new leader, John Lee, left, walks off the stage with Mr Xi after the swearing-in ceremony. AP
    The city's new leader, John Lee, left, walks off the stage with Mr Xi after the swearing-in ceremony. AP
  • Mr Lee pledged to uphold the city’s mini-constitution, the Basic Law, and to be accountable to the central government in Beijing. Bloomberg
    Mr Lee pledged to uphold the city’s mini-constitution, the Basic Law, and to be accountable to the central government in Beijing. Bloomberg
  • His inauguration followed a morning flag-raising ceremony attended by departing leader Carrie Lam and several hundred other people. Bloomberg
    His inauguration followed a morning flag-raising ceremony attended by departing leader Carrie Lam and several hundred other people. Bloomberg
  • Hong Kong's new Secretary for Innovation, Technology and Industry Sun Dong, left, bows as Mr Xi and Mr Lee look on. AP
    Hong Kong's new Secretary for Innovation, Technology and Industry Sun Dong, left, bows as Mr Xi and Mr Lee look on. AP
  • The swearing-in ceremony was Mr Xi's first trip outside mainland China since the start of the Covid-19 pandemic. Reuters
    The swearing-in ceremony was Mr Xi's first trip outside mainland China since the start of the Covid-19 pandemic. Reuters
  • Mr Xi last visited Hong Kong in 2017 for the July 1 celebrations, during which he warned that there would be no tolerance for any activities seen as threatening China’s sovereignty and stability. EPA
    Mr Xi last visited Hong Kong in 2017 for the July 1 celebrations, during which he warned that there would be no tolerance for any activities seen as threatening China’s sovereignty and stability. EPA
  • Mr Xi and Mr Lee clap as Hong Kong's director of immigration Au Ka-wang, left, is sworn in. AFP
    Mr Xi and Mr Lee clap as Hong Kong's director of immigration Au Ka-wang, left, is sworn in. AFP
  • Members of Mr Lee's new Cabinet take their oaths during the ceremony in Hong Kong. Bloomberg
    Members of Mr Lee's new Cabinet take their oaths during the ceremony in Hong Kong. Bloomberg
  • Former chief executive Ms Lam, right, and her husband Lam Siu-por, left, at the swearing-in ceremony. Bloomberg
    Former chief executive Ms Lam, right, and her husband Lam Siu-por, left, at the swearing-in ceremony. Bloomberg
  • Erick Tsang, Hong Kong's Secretary for Constitutional and Mainland Affairs, centre, and his wife Louise Ho Pui-shan, commissioner of customs and excise, left, at the swearing-in ceremony. Bloomberg
    Erick Tsang, Hong Kong's Secretary for Constitutional and Mainland Affairs, centre, and his wife Louise Ho Pui-shan, commissioner of customs and excise, left, at the swearing-in ceremony. Bloomberg
  • Allan Zeman, chairman of Lan Kwai Fong Holdings, attends the swearing-in ceremony. Bloomberg
    Allan Zeman, chairman of Lan Kwai Fong Holdings, attends the swearing-in ceremony. Bloomberg

The BNO visa scheme was launched by the UK in January 2021. It allowed an estimated five million holders of BNO status and their immediate families to apply for dedicated entry visas with a pathway to full citizenship.

So far, more than 120,000 have applied for visas with some estimates suggesting as many as 300,000 could eventually take advantage of the scheme. Of the 123,400 who have applied, 113,742 have been granted.

Under the new rules, young adults applying for visas will not need to submit their parent’s passport or ID document as part of the application process where they are unable to, but will have the option to do so.

Those eligible will be able to bring their partners and children under 18 years and adult relatives who have a high level of dependency.

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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.”

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
Results

Stage three:

1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-43

2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s

3. Tom Dumoulin (NED) Jumbo-Visma, at 14s

4. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s

5. Joao Almeida (POR) UAE-Team Emirates, at 22s

6. Mikkel Bjerg (DEN) UAE-Team Emirates, at 24s

General Classification:

1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-13-02

2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s

3. Jasper Philipsen (BEL) Alpecin Fenix, at 12s

4. Tom Dumoulin (NED) Jumbo-Visma, at 14s

5. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s

6. Joao Almeida (POR) UAE-Team Emirates, at 22s

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

All or Nothing

Amazon Prime

Four stars

War

Director: Siddharth Anand

Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor

Rating: Two out of five stars 

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BULKWHIZ PROFILE

Date started: February 2017

Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)

Based: Dubai, UAE

Sector: E-commerce 

Size: 50 employees

Funding: approximately $6m

Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait

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ABU DHABI CARD

5pm: UAE Martyrs Cup (TB) Conditions; Dh90,000; 2,200m
5.30pm: Wathba Stallions Cup (PA) Handicap; Dh70,000; 1,400m​​​​​​​
6pm: UAE Matyrs Trophy (PA) Maiden; Dh80,000; 1,600m​​​​​​​
6.30pm: Sheikha Fatima bint Mubarak (IFAHR) Apprentice Championship (PA) Prestige; Dh100,000; 1,600m​​​​​​​
7pm: Sheikha Fatima bint Mubarak (IFAHR) Ladies World Championship (PA) Prestige; Dh125,000; 1,600m​​​​​​​
8pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Group 1; Dh5,000,000; 1,600m

India Test squad

Virat Kohli (c), Mayank Agarwal, Rohit Sharma, Cheteshwar Pujara, Ajinkya Rahane, Hanuma Vihari, Rishabh Pant (wk), Wriddhiman Saha (wk), Ravichandran Ashwin, Ravindra Jadeja, Kuldeep Yadav, Mohammed Shami, Umesh Yadav, Ishant Sharma, Shubman Gill

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Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

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The specs

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Power: 194hp at 5,600rpm

Torque: 275Nm from 2,000-4,000rpm

Transmission: 6-speed auto

Price: from Dh155,000

On sale: now

'I Want You Back'

Director:Jason Orley

Stars:Jenny Slate, Charlie Day

Rating:4/5

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Kanye%20West
%3Cp%3EYe%20%E2%80%94%20the%20rapper%20formerly%20known%20as%20Kanye%20West%20%E2%80%94%20has%20seen%20his%20net%20worth%20fall%20to%20%24400%20million%20in%20recent%20weeks.%20That%E2%80%99s%20a%20precipitous%20drop%20from%20Bloomberg%E2%80%99s%20estimates%20of%20%246.8%20billion%20at%20the%20end%20of%202021.%3Cbr%3EYe%E2%80%99s%20wealth%20plunged%20after%20business%20partners%2C%20including%20Adidas%2C%20severed%20ties%20with%20him%20on%20the%20back%20of%20anti-Semitic%20remarks%20earlier%20this%20year.%3Cbr%3EWest%E2%80%99s%20present%20net%20worth%20derives%20from%20cash%2C%20his%20music%2C%20real%20estate%20and%20a%20stake%20in%20former%20wife%20Kim%20Kardashian%E2%80%99s%20shapewear%20firm%2C%20Skims.%3C%2Fp%3E%0A
COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners

Monster Hunter: World

Capcom

PlayStation 4, Xbox One

Updated: August 01, 2022, 9:52 PM