• Health workers take a break from administering Covid-19 swab tests in Colombo, Sri Lanka. The country reported its first case of heavily mutated coronavirus Omicron variant of concern on December 3 in a citizen returning from South Africa. EPA
    Health workers take a break from administering Covid-19 swab tests in Colombo, Sri Lanka. The country reported its first case of heavily mutated coronavirus Omicron variant of concern on December 3 in a citizen returning from South Africa. EPA
  • A health worker holds a vial of the Moderna Covid-19 vaccine at a pop-up in Manhattan, New York City. Reuters
    A health worker holds a vial of the Moderna Covid-19 vaccine at a pop-up in Manhattan, New York City. Reuters
  • Britain's Prime Minister Boris Johnson, wearing a protective face covering to combat the spread of the coronavirus, leaves No 10 Downing Street in central London to take part in the weekly session of Prime Minister Questions at Parliament. He is facing a backlash from some of his own MPs over new coronavirus restrictions as he contends with a slump in support and questions about his future. AFP
    Britain's Prime Minister Boris Johnson, wearing a protective face covering to combat the spread of the coronavirus, leaves No 10 Downing Street in central London to take part in the weekly session of Prime Minister Questions at Parliament. He is facing a backlash from some of his own MPs over new coronavirus restrictions as he contends with a slump in support and questions about his future. AFP
  • A dose of Covid-19 vaccine is given to a school pupil during a vaccination drive for children aged 6 to 11, in West Java, Indonesia. The country has reported that more than 4.2 million coronavirus infections with cases among people aged 18 and under making up 13 per cent of Indonesia’s total cases. EPA
    A dose of Covid-19 vaccine is given to a school pupil during a vaccination drive for children aged 6 to 11, in West Java, Indonesia. The country has reported that more than 4.2 million coronavirus infections with cases among people aged 18 and under making up 13 per cent of Indonesia’s total cases. EPA
  • Medical workers take nasal samples from people at a makeshift coronavirus testing site in Seoul, South Korea. AP
    Medical workers take nasal samples from people at a makeshift coronavirus testing site in Seoul, South Korea. AP
  • Brentford’s Premier League clash with Manchester United has this week been postponed due to a Covid-19 outbreak at the Old Trafford club. By Tuesday morning, the English Premier League had been hit by 42 positive tests. Photo: Manchester United FC
    Brentford’s Premier League clash with Manchester United has this week been postponed due to a Covid-19 outbreak at the Old Trafford club. By Tuesday morning, the English Premier League had been hit by 42 positive tests. Photo: Manchester United FC
  • Visitors wear masks at a shopping centre in Beijing. Chinese state media said the first case of the Omicron variant had been detected in the country's mainland in Tianjin city, about 135km east of the capital. AP
    Visitors wear masks at a shopping centre in Beijing. Chinese state media said the first case of the Omicron variant had been detected in the country's mainland in Tianjin city, about 135km east of the capital. AP
  • People shop for Christmas in Sydney. Covid-19 restrictions will ease further across the state of New South Wales, including rules for unvaccinated people. Getty Images
    People shop for Christmas in Sydney. Covid-19 restrictions will ease further across the state of New South Wales, including rules for unvaccinated people. Getty Images
  • The body of a person who died from Covid-19) is pushed to be cremated by the Farmington Funeral Home in New Mexico, US. Reuters
    The body of a person who died from Covid-19) is pushed to be cremated by the Farmington Funeral Home in New Mexico, US. Reuters
  • People take a ski lift wearing a mandatory mask as a preventive measure against Covid-19, in the Alpe d’Huez ski resort, France. AFP
    People take a ski lift wearing a mandatory mask as a preventive measure against Covid-19, in the Alpe d’Huez ski resort, France. AFP
  • Nathan Blackwater holds his daughter, Nylah, as she receives her first dose of the Pfizer-BioNTech coronavirus vaccine in Shiprock, New Mexico. Reuters
    Nathan Blackwater holds his daughter, Nylah, as she receives her first dose of the Pfizer-BioNTech coronavirus vaccine in Shiprock, New Mexico. Reuters
  • Medical workers in protective suits collect swabs from residents at a Covid-19 testing site in Ningbo, China. Reuters
    Medical workers in protective suits collect swabs from residents at a Covid-19 testing site in Ningbo, China. Reuters
  • Covid-19 patient Larry Goff, 61, in an isolation room at San Juan Regional Medical Centre in Farmington, New Mexico. Reuters
    Covid-19 patient Larry Goff, 61, in an isolation room at San Juan Regional Medical Centre in Farmington, New Mexico. Reuters
  • A man has a nose swab sample collected at a mobile Covid-19 testing unit in Manhattan, New York. Reuters
    A man has a nose swab sample collected at a mobile Covid-19 testing unit in Manhattan, New York. Reuters
  • Daniel and Paris Hokin wait for their Covid-19 test results with their children at a check point in Coolangatta, on Australia's Gold Coast, before entering Queensland. Getty
    Daniel and Paris Hokin wait for their Covid-19 test results with their children at a check point in Coolangatta, on Australia's Gold Coast, before entering Queensland. Getty
  • Skiers wait for a cable car in Obereggen, Italy. The Italian government tightened health restrictions from December 6 to combat the rise in Covid-19 cases. Getty
    Skiers wait for a cable car in Obereggen, Italy. The Italian government tightened health restrictions from December 6 to combat the rise in Covid-19 cases. Getty
  • Protesters take part in a demonstration against Covid-19 health restrictions in Austria, which became the first EU country to say it would make vaccinations mandatory. AFP
    Protesters take part in a demonstration against Covid-19 health restrictions in Austria, which became the first EU country to say it would make vaccinations mandatory. AFP
  • Pilgrims walk towards Our Lady of Guadalupe Basilica in Mexico City on Sunday after the easing of Covid-19 restrictions. AP
    Pilgrims walk towards Our Lady of Guadalupe Basilica in Mexico City on Sunday after the easing of Covid-19 restrictions. AP
  • Ukrainians take part in a protest against Covid-19 restrictions for unvaccinated people in Kiev. EPA
    Ukrainians take part in a protest against Covid-19 restrictions for unvaccinated people in Kiev. EPA
  • Medical workers protest against the Belgian government's Covid-19 restrictions in Brussels. Reuters
    Medical workers protest against the Belgian government's Covid-19 restrictions in Brussels. Reuters
  • Travellers wear protective suits at Soekarno-Hatta International Airport, near Jakarta. Indonesia has banned travellers from eight African countries in an effort to curb the spread of the Omicron coronavirus variant. Reuters
    Travellers wear protective suits at Soekarno-Hatta International Airport, near Jakarta. Indonesia has banned travellers from eight African countries in an effort to curb the spread of the Omicron coronavirus variant. Reuters
  • A medic prepares a Covid-19 vaccine dose during an inoculation campaign in the Palestinian city of Rafah. AFP
    A medic prepares a Covid-19 vaccine dose during an inoculation campaign in the Palestinian city of Rafah. AFP
  • An electronic stock market board in Tokyo, Japan. Stocks advanced in Asia after a broad rally on Wall Street amid hopes that the Omicron strain will not pose a big economic threat. AP
    An electronic stock market board in Tokyo, Japan. Stocks advanced in Asia after a broad rally on Wall Street amid hopes that the Omicron strain will not pose a big economic threat. AP
  • A woman undergoes a PCR test at a Covid-19 testing centre in Seoul, South Korea. AFP
    A woman undergoes a PCR test at a Covid-19 testing centre in Seoul, South Korea. AFP
  • A woman attending a religious festival in Managua, Nicaragua, has her hands sprayed with sanitiser as a precaution against Covid-19. EPA
    A woman attending a religious festival in Managua, Nicaragua, has her hands sprayed with sanitiser as a precaution against Covid-19. EPA
  • A restaurant worker in Warsaw checks a customer's proof of vaccination. From March, Poland's health workers, teachers, police and other uniformed service workers will need to be vaccinated against Covid-19. AP
    A restaurant worker in Warsaw checks a customer's proof of vaccination. From March, Poland's health workers, teachers, police and other uniformed service workers will need to be vaccinated against Covid-19. AP
  • Activists lit about 12,000 candles in Bern, Switzerland, in memory of the people who have died from Covid-19 in the country. EPA
    Activists lit about 12,000 candles in Bern, Switzerland, in memory of the people who have died from Covid-19 in the country. EPA
  • A pedestrian walks past a mobile Covid-19 vaccine clinic in Manhattan, New York. Reuters
    A pedestrian walks past a mobile Covid-19 vaccine clinic in Manhattan, New York. Reuters
  • A healthcare worker prepares to give a woman a Covid-19 vaccine dose in Lima, Peru. Reuters
    A healthcare worker prepares to give a woman a Covid-19 vaccine dose in Lima, Peru. Reuters
  • A 'Mask Up For Christmas' sign in Manchester. The UK government is advising people to receive Covid-19 booster shots as it reintroduces safety measures. Getty
    A 'Mask Up For Christmas' sign in Manchester. The UK government is advising people to receive Covid-19 booster shots as it reintroduces safety measures. Getty
  • A man walks along the bank of the Danube Canal during the lockdown in Vienna. Graffiti on the wall reflects opposition to the Covid-19 vaccination campaign. AP
    A man walks along the bank of the Danube Canal during the lockdown in Vienna. Graffiti on the wall reflects opposition to the Covid-19 vaccination campaign. AP
  • A trader on the floor of the New York Stock Exchange. Stocks rallied on Wall Street as investors hoped that the Omicron coronavirus variant will not pose a big economic threat. AP
    A trader on the floor of the New York Stock Exchange. Stocks rallied on Wall Street as investors hoped that the Omicron coronavirus variant will not pose a big economic threat. AP
  • A Christmas market in Berlin. Germany is dealing with a rising number of coronavirus infections. EPA
    A Christmas market in Berlin. Germany is dealing with a rising number of coronavirus infections. EPA
  • A lab worker handles positive Covid-19 samples to be sequenced in the virology laboratory of the APHP Henri Mondor Hospital in Creteil, on the outskirts of Paris. AFP
    A lab worker handles positive Covid-19 samples to be sequenced in the virology laboratory of the APHP Henri Mondor Hospital in Creteil, on the outskirts of Paris. AFP
  • A health worker collects a swab sample of a passenger who arrived in Karnataka by train, following the detection of the Omicron strain in the Indian state. EPA
    A health worker collects a swab sample of a passenger who arrived in Karnataka by train, following the detection of the Omicron strain in the Indian state. EPA
  • Officials disinfect the cabin of an Asiana Airlines plane at Incheon International Airport in South Korea amid mounting concerns about the Omicron variant. EPA
    Officials disinfect the cabin of an Asiana Airlines plane at Incheon International Airport in South Korea amid mounting concerns about the Omicron variant. EPA
  • Signage for a vaccination site in a Manhattan subway station as the Omicron strain continues to spread in New York. Reuters
    Signage for a vaccination site in a Manhattan subway station as the Omicron strain continues to spread in New York. Reuters
  • Prime Minister Boris Johnson at a press conference in Downing Street after ministers met to consider imposing new restrictions in response to rising cases and the spread of the Omicron variant. PA
    Prime Minister Boris Johnson at a press conference in Downing Street after ministers met to consider imposing new restrictions in response to rising cases and the spread of the Omicron variant. PA
  • A member of the Western Cape Metro Emergency Medical Services receives vaccines from an ambulance in Cape Town, South Africa. AFP
    A member of the Western Cape Metro Emergency Medical Services receives vaccines from an ambulance in Cape Town, South Africa. AFP
  • People queue for Covid-19 booster jabs outside a vaccination centre in London. UK government health experts are advising that all people aged over 18 should receive Covid-19 booster shots. EPA
    People queue for Covid-19 booster jabs outside a vaccination centre in London. UK government health experts are advising that all people aged over 18 should receive Covid-19 booster shots. EPA

Covid-19 in 2022: What the pandemic could look like for each region


Daniel Bardsley
  • English
  • Arabic

Live updates: follow the latest news on Covid-19 variant Omicron

It has been two years since Covid-19 emerged in China. Since then, the world has faced upheaval of a kind that most people had never experienced before.

Travel bans, hospitals struggling to cope, boosters and mask-wearing – life has taken on myriad new elements, many of them unwelcome. But the effects of the virus have not been felt equally around the world.

Some regions have suffered higher death rates, in part because they have more elderly people, and levels of infection have varied widely. Although vaccine campaigns improved significantly in many developing nations in the second half of 2001 , and some countries are pressing ahead with boosters, coverage in Africa remains poor.

People have postulated that until 2023, it isn’t achievable, to vaccinate the world
Prof Beate Kampmann,
London School of Hygiene and Tropical Medicine

Looking ahead to next year, the hope is that supply shortages will ease now that manufacturing capacity is stronger and initial campaigns have been carried out.

“The bottom line is more vaccines need to reach more people, and we’re now in a much better position than we were a year ago because the vaccine supplies have significantly increased,” said Prof Beate Kampmann, director of the vaccine centre at the London School of Hygiene and Tropical Medicine.

“Supplies appear to be less of an issue now, but it’s the distribution of the supplies that is not resolved.

“There might also be a shortage in adjusted product [to cope with new variants] and there will have to be continued advocacy and commitment for countries to donate.”

The emergence of the Omicron variant increases uncertainty as to what will happen next year.

“People have postulated that until 2023, it isn’t achievable to vaccinate the world,” Prof Kampmann said.

“If we’re having new variants kicked out and vaccines having to be tweaked, then I worry that this will set back the whole trajectory of progress.”

Africa

Africa is by far the least vaccinated continent, with only 18 doses administered per 100 people and 12 per cent of the population having received at least one dose of vaccine.

Africa has recorded 225,000 deaths from Covid-19, according to official figures. But this is likely to be an underestimate. Vaccine supplies from Covax, the global vaccine alliance, have fallen below expectations, but increased in the second half of this year.

The continent has been able to use existing infrastructure for delivering childhood vaccinations to administer Covid-19 vaccines.

Prof Kampmann said vaccine hesitancy has been a concern, however, partly because the continent already has a high burden from infectious disease, so Covid-19 is seen as “one other virus coming along”.

“I don’t think people are quite as aware of the threat to their personal health posed by Sars-CoV-2, and they therefore don’t see the need to be vaccinated,” she said.

Vaccine supply is expected to increase significantly next year as squeezes on production capacity brought about by the initial launch of campaigns in many parts of the world lessen.

Asia-Pacific

China, which has recorded fewer than 6,000 deaths among its 1.4 billion people, according to official figures, has controlled the pandemic through international travel restrictions and local lockdowns.

The population is heavily vaccinated (83 per cent are fully immunised), although with locally developed vaccines that may be less effective, especially against newer variants.

Some analysts think the world’s most populous nation will continue with its eradication or elimination strategy until the middle or even the end of 2022, easing restrictions only when more people have received newer vaccines.

Many countries in South-East Asia, such as Laos, Malaysia, Cambodia and Thailand, began administering vaccines in earnest only in the second half of this year, but now have significant coverage.

They will be aiming to achieve more consistent openings of their economies – and their tourism industries – in the year ahead.

India has administered about 1.32 billion vaccine doses but, because of its population size, only 38 per cent of citizens are fully vaccinated.

The world’s biggest vaccine producer is likely to complete its first round of inoculations in 2022, but keeping the pandemic under control – as the country has done following its devastating spike from April to June – may depend upon the behaviour of Omicron.

With their populations heavily vaccinated and with the Delta variant making a continued elimination strategy unrealistic, Australia and New Zealand are likely to open their borders to more people next year.

There have already been announcements about international students returning to Australia.

Europe

Europe is home to less than 10 per cent of the world’s population, but has suffered more than a quarter of known fatalities from Covid-19 – 1.54 million deaths – partly because of high infection rates and a large elderly population.

A study released in November said the continent could suffer a further 300,000 deaths if measures to control the virus were lifted.

Many European countries moved rapidly to vaccinate their populations, but high levels of vaccine scepticism in some places have placed an upper limit on coverage.

Recent severe outbreaks in nations including Belgium, Germany and the Netherlands have shown the pandemic’s potential to flare up again.

The UK, which was among the earliest to administer the first vaccines, and which has suffered a particularly high rate of infections and deaths, has had “very high, stable rates” in recent months, says Dr Andrew Freedman, an infectious disease specialist at Cardiff University in Wales.

High rates of vaccination and previous infection are thought by some analysts to be preventing further growth in the number of cases in the UK, although case rates remain high, averaging more than 40,000 a day.

Dr Freedman suggests more parts of Europe could see the same pattern next year.

“Once it peaks it may well do something similar to the UK,” he said, although this was conditional on new variants not changing the dynamic.

Recent modelling of how the Omicron variant might affect the UK suggested it could cause between 25,000 and 75,000 deaths by the end of April.

The Americas

After suffering a devastating toll of more than 600,000 deaths, Brazil has brought infection and death rates down significantly, as have some of its neighbours, including Argentina.

Latin American nations, including Brazil, Argentina, Uruguay and Ecuador, are now in the upper reaches of the global league tables of vaccination rates.

About 70 per cent of people in Latin America have now had at least one vaccine dose, putting the region behind only the US and Canada, where the figure is 73 per cent. The outlook for 2022 appears significantly improved over that of this year.

Cuba, which has well-developed healthcare and research institutions, stands out for producing its own vaccines. These have helped the country to fully immunise more than four out of every five people and give at least one dose to 90 per cent of its population.

“Cuba has three vaccines that seem to be working,” said Prof John Oxford, emeritus professor of virology at Queen Mary University of London.

While the US and Canada, together, represent the most vaccinated region of the world, the picture in the US is variable because of high rates of vaccine scepticism in some states.

For the past two months, the country has recorded between 5,000 and 11,000 deaths per week and a significant number could continue to occur next year, owing to inconsistent vaccination rates and new variants.

Middle East

The region has the country that was the fastest to get going with vaccination, Israel, and the country in which the highest proportion of its population has had at least one shot, the UAE.

Israel will offer lessons for the world next year in the effectiveness of boosters. The country has already administered them to about 46 per cent of its citizens, one of the highest figures in the world.

With high vaccination rates, Israel and the Gulf states will be able to keep economic disruption caused by the pandemic to a minimum in 2022, subject to the Omicron variant not forcing them to reinstate lockdowns.

While many of the Middle East’s nations are heavily vaccinated, when taken as a whole only 49 per cent of the population has had at least one dose. This is the second-lowest figure for any world region, ahead only of Africa.

War and poor healthcare infrastructure have slowed campaigns in Syria, Lebanon, Yemen and Iraq.

In Syria, only 5.2 per cent of the population has had at least one dose, while in Yemen the figure is only 1.9 per cent.

Next year, continued civil war could heavily complicate vaccination programmes in these two nations.

SPECS

Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now

UAE currency: the story behind the money in your pockets
MATCH INFO

Crawley Town 3 (Tsaroulla 50', Nadesan 53', Tunnicliffe 70')

Leeds United 0 

Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

The Case For Trump

By Victor Davis Hanson
 

HEADLINE HERE
  • 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
Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

Indoor Cricket World Cup Dubai 2017

Venue Insportz, Dubai; Admission Free

Day 1 fixtures (Saturday)

Men 1.45pm, Malaysia v Australia (Court 1); Singapore v India (Court 2); UAE v New Zealand (Court 3); South Africa v Sri Lanka (Court 4)

Women Noon, New Zealand v South Africa (Court 3); England v UAE (Court 4); 5.15pm, Australia v UAE (Court 3); England v New Zealand (Court 4)

Squads

Pakistan: Sarfaraz Ahmed (c), Babar Azam (vc), Abid Ali, Asif Ali, Fakhar Zaman, Haris Sohail, Mohammad Hasnain, Iftikhar Ahmed, Imad Wasim, Mohammad Amir, Mohammad Nawaz, Mohammad Rizwan, Shadab Khan, Usman Shinwari, Wahab Riaz

Sri Lanka: Lahiru Thirimanne (c), Danushka Gunathilaka, Sadeera Samarawickrama, Avishka Fernando, Oshada Fernando, Shehan Jayasuriya, Dasun Shanaka, Minod Bhanuka, Angelo Perera, Wanindu Hasaranga, Lakshan Sandakan, Nuwan Pradeep, Isuru Udana, Kasun Rajitha, Lahiru Kumara

ULTRA PROCESSED FOODS

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;

- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,

- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.

Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
The specs

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

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

If you go

The flights

Etihad and Emirates fly direct from the UAE to Chicago from Dh5,215 return including taxes.

The hotels

Recommended hotels include the Intercontinental Chicago Magnificent Mile, located in an iconic skyscraper complete with a 1929 Olympic-size swimming pool from US$299 (Dh1,100) per night including taxes, and the Omni Chicago Hotel, an excellent value downtown address with elegant art deco furnishings and an excellent in-house restaurant. Rooms from US$239 (Dh877) per night including taxes. 

First Person
Richard Flanagan
Chatto & Windus 

MATCH INFO

Champions League quarter-final, first leg

Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)

Matches can be watched on BeIN Sports

THE SPECS

Engine: 2.0-litre 4-cylinder turbo

Power: 275hp at 6,600rpm

Torque: 353Nm from 1,450-4,700rpm

Transmission: 8-speed dual-clutch auto

Top speed: 250kph

Fuel consumption: 6.8L/100km

On sale: Now

Price: Dh146,999

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

AL%20BOOM
%3Cp%20style%3D%22text-align%3Ajustify%3B%22%3E%26nbsp%3B%26nbsp%3B%26nbsp%3BDirector%3AAssad%20Al%20Waslati%26nbsp%3B%3C%2Fp%3E%0A%3Cp%20style%3D%22text-align%3Ajustify%3B%22%3E%0DStarring%3A%20Omar%20Al%20Mulla%2C%20Badr%20Hakami%20and%20Rehab%20Al%20Attar%0D%3Cbr%3E%0D%3Cbr%3EStreaming%20on%3A%20ADtv%0D%3Cbr%3E%0D%3Cbr%3ERating%3A%203.5%2F5%0D%3Cbr%3E%0D%3Cbr%3E%3C%2Fp%3E%0A
WIDE%20VIEW
%3Cp%3EThe%20benefits%20of%20HoloLens%202%2C%20according%20to%20Microsoft%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EManufacturing%3A%3C%2Fstrong%3E%20Reduces%20downtime%20and%20speeds%20up%20onboarding%20and%20upskilling%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EEngineering%20and%20construction%3A%3C%2Fstrong%3E%20Accelerates%20the%20pace%20of%20construction%20and%20mitigates%20risks%20earlier%20in%20the%20construction%20cycle%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EHealth%20care%3A%3C%2Fstrong%3E%20Enhances%20the%20delivery%20of%20patient%20treatment%20at%20the%20point%20of%20care%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EEducation%3A%3C%2Fstrong%3E%20Improves%20student%20outcomes%20and%20teaches%20from%20anywhere%20with%20experiential%20learning%3C%2Fp%3E%0A

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.”

Get Out

Director: Jordan Peele

Stars: Daniel Kaluuya, Allison Williams, Catherine Keener, Bradley Whitford

Four stars

Without Remorse

Directed by: Stefano Sollima

Starring: Michael B Jordan

4/5

MATCH INFO

Juventus 1 (Dybala 45')

Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')

Red card: Rodrigo Bentancur (Juventus)

Brief scoreline:

Wales 1

James 5'

Slovakia 0

Man of the Match: Dan James (Wales)

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

UAE currency: the story behind the money in your pockets
Results

5pm: UAE Martyrs Cup (TB) Conditions Dh90,000 2,200m

Winner: Mudaarab, Jim Crowley (jockey), Erwan Charpy (trainer).

5.30pm: Wathba Stallions Cup (PA) Handicap Dh70,000 1,400m

Winner: Jawal Al Reef, Richard Mullen, Hassan Al Hammadi.

6pm: UAE Matyrs Trophy (PA) Maiden Dh80,000 1,600m

Winner: Salima Al Reef, Jesus Rosales, Abdallah Al Hammadi.

6.30pm: Sheikha Fatima bint Mubarak (IFAHR) Apprentice Championship (PA) Prestige Dh100,000 1,600m

Winner: Bainoona, Ricardo Iacopini, Eric Lemartinel.

7pm: Sheikha Fatima bint Mubarak (IFAHR) Ladies World Championship (PA) Prestige Dh125,000 1,600m

Winner: Assyad, Victoria Larsen, Eric Lemartinel.

8pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Group 1 Dh5,000,000 1,600m

Winner: Mashhur Al Khalediah, Jean-Bernard Eyquem, Phillip Collington.

Updated: December 16, 2021, 7:19 AM