Usher performs impromptu 6am piano concert in Abu Dhabi hotel lobby

What is a virtual bank?

The Hong Kong Monetary Authority defines it as a bank that delivers services through the internet or other electronic channels instead of physical branches. That means not only facilitating payments but accepting deposits and making loans, just like traditional ones. Other terms used interchangeably include digital or digital-only banks or neobanks. By contrast, so-called digital wallets or e-wallets such as Apple Pay, PayPal or Google Pay usually serve as intermediaries between a consumer’s traditional account or credit card and a merchant, usually via a smartphone or computer.

What’s the draw in Asia?

Hundreds of millions of people under-served by traditional institutions, for one thing. In China, India and elsewhere, digital wallets such as Alipay, WeChat Pay and Paytm have already become ubiquitous, offering millions of people an easy way to store and spend their money via mobile phone. Indonesia, Vietnam and the Philippines are also among the world’s biggest under-banked countries; together they have almost half a billion people.

Is Hong Kong short of banks?

No, but the city is among the most cash-reliant major economies, leaving room for newcomers to disrupt the entrenched industry. Ant Financial, an Alibaba Group Holding affiliate that runs Alipay and MYBank, and Tencent Holdings, the company behind WeBank and WeChat Pay, are among the owners of the eight ventures licensed to create virtual banks in Hong Kong, with operations expected to start as early as the end of the year. 

Starring: Amir El-Masry, Pierce Brosnan

Director: Athale

Rating: 4/5

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

Various Artists 
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
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Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

Fatima Al Darmaki is an Emirati widow with three children

She has received 46 certificates of appreciation and excellence throughout her career

She won the 'ideal mother' category at the Minister of Interior Awards for Excellence

Her favourite food is Harees, a slow-cooked porridge-like dish made from boiled wheat berries mixed with chicken

• I would recommend writing out the text in the body 
• And then copy into this box
• It can be as long as you link
• But I recommend you use the bullet point function (see red square)
• Or try to keep the word count down
• Be wary of other embeds lengthy fact boxes could crash into 
• That's about it

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

Gavin Esler: Coronavirus offers stinging rebuke to protectionists

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A second lockdown will be especially tough in cold countries

Hard-hit Canada is springing back to the cliched 'new normal'

Justin Trudeau 2.0 will need to take all of Canada with him

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Robert Matthews: Has flawed science and rushed research failed us?

Armies of Sand

By Kenneth Pollack (Oxford University Press)
 

Engine: 3.8-litre, twin-turbo V8

Transmission: eight-speed automatic

Power: 582bhp

Torque: 730Nm

Price: Dh649,000

On sale: now  

UAE coins

Dh5 note

Dh10 note

Dh20 note

Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action

Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?

Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality

Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'

'We are betting on you - you are the future', Gargash tells young Emiratis

Majlis 2018: Young Emiratis see entrepreneurship and innovation on the horizon

'Pursue what you love - not just a high salary', universities minister tells young Emiratis

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

Huddersfield Town 0

Chelsea 3
Kante (34'), Jorginho (45' pen), Pedro (80')

National Editorial: Suleimani has been killed, now we must de-escalate

Mina Al Oraibi: Air strike casts a long shadow over the decade ahead

Jack Moore: Why the assassination is such a monumental gamble

Matthew Levitt: Iran retains its ability to launch terror attacks

Damien McElroy: A CEO tasked with spreading Iran's influence

Hussein Ibish: Trump's order on solid constitutional ground

Simon Waldman: Cautious Israel keeping a low profile

How our nine-month-old has made the Canadian winter a little bit warmer for us

Canadians rallying around a targeted Syrian restaurant is telling about attitudes to migrants

Don Cherry and the real issue with being one of 'you people'