The UAE has been ranked third in the world in a league table looking at how well countries are controlling the coronavirus while at the same time reopening their economies.
The Emirates were behind only Ireland and Spain in the Bloomberg Covid Resilience Ranking, which is published monthly by the business news agency.
A continued decrease in the number of cases and deaths, coupled with very high vaccination rates, enabled the Emirates to jump three places since the last table was released.
Ireland and Spain occupy the top two spots, and other European nations take up most of the rest of the top 10 thanks to case numbers being under control and restrictions having been partly relaxed.
The UAE, which has had slightly under three quarters of a million Covid-19 cases and 2,135 deaths, has experienced a dramatic improvement in its control of the pandemic after its most recent peak in May and June.
There are now fewer than 1,000 cases a week, the lowest for more than a year, while the total number of deaths has been in single figures in recent weeks.
A very high vaccination rate, of 97.3 per cent – the world’s highest – also contributes to the UAE’s overall Bloomberg Resilience Score of 74.6.
The top scorer, Ireland, has a resilience score of 75.1, and was praised for its high vaccination rate and cautious moves towards reopening, although Bloomberg named the country as one of several to have seen a “worrying uptick” in case numbers.
Spain, with a score of 74.6, gains plaudits for easing Covid restrictions and for bringing weekly case numbers down to slightly above 10,000, compared to almost 190,000 at one point in July.
Dr Bharat Pankhania, a senior clinical lecturer and consultant in communicable disease control at the University of Exeter in the UK, said many European countries were coping well because they were continuing to take basic precautions.
“Countries like Greece, Germany, France, Spain and Italy, they wear their masks and get on with it, and their case numbers are low,” he told The National.
He contrasted the relative success of these countries at maintaining lower case rates with the UK, which fell nine places to 25th position over the past month because of rising case numbers. Covid-related deaths in the UK are running at an average of more than 100 a day.
“The UK has adopted a laissez-faire attitude, so there’s a groundswell of, ‘We don’t want to wear masks and we don’t want to take precautions,’ and we’re behind with our immunisation,” he said.
The top 20 includes Saudi Arabia, which is placed 15th with a Bloomberg Resilience Score of 68.5.
It has a slightly lower vaccination rate, of 66.5 per cent, and slightly tougher restrictions than most countries in the top 10.
Another notable inclusion in the upper reaches of the table is Chile, in eighth position, whose rise of 23 places over the past month reflects an improved situation in South America as a whole.
The Bloomberg Covid Resilience Ranking, which measures the world’s top 53 economies, is not simply an indicator of how well a country is controlling the coronavirus.
Nations (such as China in 28th position) with very low case and death rates but tougher Covid-related restrictions may score below others (such as the UK) with far higher case numbers and death rates but with fewer limitations.
Measures such as vaccination coverage, quality of healthcare, mortality rates and the extent to which travel has restarted are used to compile the table.
Bloomberg noted that countries in South-East Asia such as Malaysia, Thailand, Vietnam and the Philippines remained in the bottom six of the table for the third month.
While Malaysia, with 75.6 per cent of people fully vaccinated, has a relatively high immunisation rate, the others are lagging, with Thailand having 50.6 per cent fully vaccinated, Vietnam 37.8 per cent and the Philippines on 26 per cent, according to Bloomberg.
“If they haven’t got vaccination coverage in the high 80s, then you always have that fear that people who are not immunised will get severe disease and they will overwhelm the hospital system,” Dr Pankhania said.
Although they are trying to immunise their populations, Dr Pankhania said many nations in South-East Asia had been hampered by a lack of vaccine supply.
2020 Oscars winners: in numbers
- Parasite – 4
- 1917– 3
- Ford v Ferrari – 2
- Joker – 2
- Once Upon a Time ... in Hollywood – 2
- American Factory – 1
- Bombshell – 1
- Hair Love – 1
- Jojo Rabbit – 1
- Judy – 1
- Little Women – 1
- Learning to Skateboard in a Warzone (If You're a Girl) – 1
- Marriage Story – 1
- Rocketman – 1
- The Neighbors' Window – 1
- Toy Story 4 – 1
Fresh faces in UAE side
Khalifa Mubarak (24) An accomplished centre-back, the Al Nasr defender’s progress has been hampered in the past by injury. With not many options in central defence, he would bolster what can be a problem area.
Ali Salmeen (22) Has been superb at the heart of Al Wasl’s midfield these past two seasons, with the Dubai club flourishing under manager Rodolfo Arrubarrena. Would add workrate and composure to the centre of the park.
Mohammed Jamal (23) Enjoyed a stellar 2016/17 Arabian Gulf League campaign, proving integral to Al Jazira as the capital club sealed the championship for only a second time. A tenacious and disciplined central midfielder.
Khalfan Mubarak (22) One of the most exciting players in the UAE, the Al Jazira playmaker has been likened in style to Omar Abdulrahman. Has minimal international experience already, but there should be much more to come.
Jassim Yaqoub (20) Another incredibly exciting prospect, the Al Nasr winger is becoming a regular contributor at club level. Pacey, direct and with an eye for goal, he would provide the team’s attack an extra dimension.
Shooting Ghosts: A U.S. Marine, a Combat Photographer, and Their Journey Back from War by Thomas J. Brennan and Finbarr O’Reilly
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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.”
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The specs: 2019 Mercedes-Benz C200 Coupe
Price, base: Dh201,153
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Nine-speed automatic
Power: 204hp @ 5,800rpm
Torque: 300Nm @ 1,600rpm
Fuel economy, combined: 6.7L / 100km
Four motivational quotes from Alicia's Dubai talk
“The only thing we need is to know that we have faith. Faith and hope in our own dreams. The belief that, when we keep going we’re going to find our way. That’s all we got.”
“Sometimes we try so hard to keep things inside. We try so hard to pretend it’s not really bothering us. In some ways, that hurts us more. You don’t realise how dishonest you are with yourself sometimes, but I realised that if I spoke it, I could let it go.”
“One good thing is to know you’re not the only one going through it. You’re not the only one trying to find your way, trying to find yourself, trying to find amazing energy, trying to find a light. Show all of yourself. Show every nuance. All of your magic. All of your colours. Be true to that. You can be unafraid.”
“It’s time to stop holding back. It’s time to do it on your terms. It’s time to shine in the most unbelievable way. It’s time to let go of negativity and find your tribe, find those people that lift you up, because everybody else is just in your way.”
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Mina Cup winners
Under 12 – Minerva Academy
Under 14 – Unam Pumas
Under 16 – Fursan Hispania
Under 18 – Madenat
