This time last year, a number of my friends spent their Ramadan nights praying for pharmaceutical companies to come up with a Covid-19 vaccine soon so the devastation caused by the pandemic could end, and they can go back to their normal lives.
The vaccine came but it did not come soon enough. We have lost more than 3 million people to the pandemic around the world. The world economy was tipped into its deepest recession since 1930s and unemployment rates in major economies such as the US climbed to the highest level since in decades. Now that multiple vaccines are available and there is a possibility of ending the pandemic-driven devastation, the same friends are hesitant to take the vaccine, and would rather push their decision to inoculate to a later date.
Vaccine hesitancy
The misinformation about Covid-19 vaccines is largely to be blamed for people's suspicions and hesitancy towards inoculation. The 2021 Edelman Trust Barometer report revealed that 59 per cent people who practice poor "information hygiene" – not checking the source of information shared – are less willing to get vaccinated within the first year of its availability. However, 70 per cent of those who practice good information hygiene are likely to take the Covid-19 vaccine jabs.
UAE's success in mass inoculation
The UAE is leading by example when it comes to circulating the correct information and the public’s access to medical professionals to address their concerns. The country has passed the milestone of 10 million vaccine doses administered, with half of the UAE's population inoculated. However, elsewhere in the world it still proves to be challenge, which puts lives at risks and one where marketers can assist.
Disseminating correct information
With so much misinformation and mistrust clouding people’s judgement, counter measures are needed. Business is the most trusted institution with a global trust level of 61 per cent, according to the Edelman report. A partnership between businesses and marketers can help in disseminating the correct information. This can be achieved through retail space messaging, through social media pages of businesses, through messages by chief executives and by hosting virtual seminars/webinars with doctors who can address people’s concerns.
Businesses can also help by diverting part of their social responsibility budgets towards mass inoculation awareness programmes. They can fund hotlines where people can reach medical professionals to answer their concerns.
Marketers and businesses can also tie-up with health authorities’ in funding and producing creative public service advertisement campaigns to encourage people to vaccinate.
Combating misinformation
Because misinformation is widely spread, we need to double the effort to get the right messages out, and they should be shared through the same platform where misinformation spread from. Marketers need to follow the same creative approach when promoting a product or service.
This means that the messages should speak differently to different target groups in channels they are tuned into and should be in their languages. Businesses can collaborate with influencers on social media to reach different target groups. Perhaps a social media personality’s page can be used to host a live session to debunk the misinformation.
The message should also be packaged differently and not be repetitive as it will lose people’s attention. As with any advertising message, it will take time to build trust. However, working on the right message and collaborating with the right people to share it is key to success.
Vaccine rewards
Some of the most effective marketing campaigns are ones that would include an offer, a discount or a prize. In the case of vaccines, the reward is to be reunited with your loved ones, to protect the world and going back to our “normal” lives. This is what the audience needs to be reminded of constantly.
One way to build a sense of community around that and to encourage people is for businesses to award those vaccinated with special membership benefits, or a special wrist band or bumper sticker that they can wear to show their support and encourage others to do the same. On a government level this can be achieved by waiving certain fees or offering a reward programme in collaboration with the business sector.
People’s behaviours can be changed with the collaboration of creative marketers and it can help the world achieve its vaccination goals faster.
Manar Al Hinai is an award-winning Emirati journalist and entrepreneur, who manages her marketing and communications company in Abu Dhabi.
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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.”
RESULTS
6.30pm: Maiden (TB) Dh 82,500 (Dirt) 1.600m
Winner: Miller’s House, Richard Mullen (jockey), Satish Seemar (trainer).
7.05pm: Maiden (TB) Dh 82,500 (D) 2,000m
Winner: Kanood, Adrie de Vries, Fawzi Nass.
7.50pm: Handicap (TB) Dh 82,500 (D) 1,600m
Winner: Gervais, Sandro Paiva, Ali Rashid Al Raihe.
8.15pm: The Garhoud Sprint Listed (TB) Dh 132,500 (D) 1,200m
Winner: Important Mission, Royston Ffrench, Salem bin Ghadayer.
8.50pm: The Entisar Listed (TB) Dh 132,500 (D) 2,000m
Winner: Firnas, Xavier Ziani, Salem bin Ghadayer.
9.25pm: Conditions (TB) Dh 120,000 (D) 1,400m
Winner: Zhou Storm, Connor Beasley, Ali Rashid Al Raihe.
BABYLON
%3Cp%3EDirector%3A%20Damien%20Chazelle%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Brad%20Pitt%2C%20Margot%20Robbie%2C%20Jean%20Smart%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
Education reform in Abu Dhabi
The emirate’s public education system has been in a constant state of change since the New School Model was launched in 2010 by the Abu Dhabi Education Council. The NSM, which is also known as the Abu Dhabi School Model, transformed the public school curriculum by introducing bilingual education starting with students from grades one to five. Under this new curriculum, the children spend half the day learning in Arabic and half in English – being taught maths, science and English language by mostly Western educated, native English speakers. The NSM curriculum also moved away from rote learning and required teachers to develop a “child-centered learning environment” that promoted critical thinking and independent learning. The NSM expanded by one grade each year and by the 2017-2018 academic year, it will have reached the high school level. Major reforms to the high school curriculum were announced in 2015. The two-stream curriculum, which allowed pupils to elect to follow a science or humanities course of study, was eliminated. In its place was a singular curriculum in which stem -- science, technology, engineering and maths – accounted for at least 50 per cent of all subjects. In 2016, Adec announced additional changes, including the introduction of two levels of maths and physics – advanced or general – to pupils in Grade 10, and a new core subject, career guidance, for grades 10 to 12; and a digital technology and innovation course for Grade 9. Next year, the focus will be on launching a new moral education subject to teach pupils from grades 1 to 9 character and morality, civic studies, cultural studies and the individual and the community.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Take Me Apart
Kelela
(Warp)
UAE WARRIORS RESULTS
Featherweight
Azouz Anwar (EGY) beat Marcelo Pontes (BRA)
TKO round 2
Catchweight 90kg
Moustafa Rashid Nada (KSA) beat Imad Al Howayeck (LEB)
Split points decision
Welterweight
Gimbat Ismailov (RUS) beat Mohammed Al Khatib (JOR)
TKO round 1
Flyweight (women)
Lucie Bertaud (FRA) beat Kelig Pinson (BEL)
Unanimous points decision
Lightweight
Alexandru Chitoran (ROU) beat Regelo Enumerables Jr (PHI)
TKO round 1
Catchweight 100kg
Marc Vleiger (NED) beat Mohamed Ali (EGY)
Rear neck choke round 1
Featherweight
James Bishop (NZ) beat Mark Valerio (PHI)
TKO round 2
Welterweight
Abdelghani Saber (EGY) beat Gerson Carvalho (BRA)
TKO round 1
Middleweight
Bakhtiyar Abbasov (AZE) beat Igor Litoshik (BLR)
Unanimous points decision
Bantamweight
Fabio Mello (BRA) beat Mark Alcoba (PHI)
Unanimous points decision
Welterweight
Ahmed Labban (LEB) v Magomedsultan Magomedsultanov (RUS)
TKO round 1
Bantamweight
Trent Girdham (AUS) beat Jayson Margallo (PHI)
TKO round 3
Lightweight
Usman Nurmagomedov (RUS) beat Roman Golovinov (UKR)
TKO round 1
Middleweight
Tarek Suleiman (SYR) beat Steve Kennedy (AUS)
Submission round 2
Lightweight
Dan Moret (USA) v Anton Kuivanen (FIN)
TKO round 2
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Petrarch: Everywhere a Wanderer
Christopher Celenza,
Reaktion Books