Sundar Pichai, Google chief executive, said the Covid-19 pandemic has led to more co-ordination between public and private sectors. Reuters
Sundar Pichai, Google chief executive, said the Covid-19 pandemic has led to more co-ordination between public and private sectors. Reuters
Sundar Pichai, Google chief executive, said the Covid-19 pandemic has led to more co-ordination between public and private sectors. Reuters
Sundar Pichai, Google chief executive, said the Covid-19 pandemic has led to more co-ordination between public and private sectors. Reuters

Google pledges $150m to boost awareness about Covid-19 vaccine


Alkesh Sharma
  • English
  • Arabic

Google is committing more than $150 million to promote awareness about the Covid-19 vaccine and ensure its equitable distribution, the company’s chief executive Sundar Pichai said.

The search engine giant will distribute $100m in advertising grants to the CDC Foundation, the World Health Organisation and non-profits around the world. It will also invest $50m in partnership with public health agencies to reach underserved communities with vaccine-related content and information.

“We recognise that getting vaccines to people is a complex problem to solve and we are committed to doing our part,” Mr Pichai said.

CDC Foundation is an independent non-profit that gathers philanthropic and private-sector resources to support the US-based Centres for Disease Control and Prevention in its health protection work.

Google is working to make it easier to find locally relevant information, including when and where to get the vaccine, Mr Pichai said.

The tech giant is also offering its US offices, including its parking lots and open spaces, as vaccination sites.

“Our efforts will focus heavily on equitable access to vaccines. Early data in the US shows that disproportionately affected populations, especially people of colour and those in rural communities, aren’t getting access to the vaccine at the same rates as other groups,” Mr Pichai said.

Google said searches for “vaccines near me” have increased five times since the beginning of the year and it is working to provide locally relevant answers.

In the coming weeks, Covid-19 vaccination locations will be available in Google Search and Maps in the US. The company is planning to roll out this feature to more countries.

“The Covid-19 pandemic has deeply affected every community all over the world … it also inspired co-ordination between public and private sectors, and across international borders, on a remarkable scale,” said Mr Pichai.

“We can’t slow down now. Getting vaccines to billions of people won’t be easy, but it’s one of the most important problems we will solve in our lifetimes,” he added.

Google Cloud is also helping healthcare organisations, retail pharmacies, logistics companies and public sector institutions make use of innovative technologies to speed up the delivery of vaccines, said Mr Pichai.

For example, logistics companies are using artificial intelligence to optimise trucking operations by adapting to traffic or inclement weather and detect temperature fluctuations during transport.

THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

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

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.”