A protester throws a scooter into the street in front of a police line during a demonstration against Covid-19 measures in Brussels. AP
A protester throws a scooter into the street in front of a police line during a demonstration against Covid-19 measures in Brussels. AP
A protester throws a scooter into the street in front of a police line during a demonstration against Covid-19 measures in Brussels. AP
A protester throws a scooter into the street in front of a police line during a demonstration against Covid-19 measures in Brussels. AP

Europe warned Omicron spread could threaten police and fire brigades


Tim Stickings
  • English
  • Arabic

A severe wave of Omicron infections could threaten critical services such as the police and fire brigades, German Chancellor Olaf Scholz has said, as Europe braces itself for a second Christmas under the cloud of coronavirus restrictions.

Germany and Britain are among the countries considering emergency measures as travel curbs return across Europe, hospital admissions rise and governments race to hand out booster vaccines to contain the fast-spreading Omicron variant.

But European governments face protests and public fatigue as the spread of Omicron prolongs the uncertainty that has put people's lives on hold for almost two years.

Demonstrations sprang up in Europe as restrictions loomed, with 13 people arrested after a march in Belgium led to scuffles and stones being thrown at police. In Germany, the two leaders of the far-right Alternative for Germany (AfD) party addressed a rally in Nuremberg protesting against vaccine mandates. Others held rallies in France and Italy.

Germany's scientific advisers recommended curbing social contacts, but warned ministers that any such measures would face a battle for public support.

“The Omicron wave is hitting a population that is exhausted by the pandemic and the fight against it, and tensions are visible every day,” an advisory panel said. “As well as decisive action, compelling explanations will be required.”

Mr Scholz tried out one such explanation on Monday by highlighting the potential pressure on critical services, besides the healthcare system, if many people are forced to isolate. Britain suffered weeks of chaos during the summer when a contact-tracing app forced many people to isolate.

“We will have to take care of critical infrastructure, so that if we have high infection rates, we can deal with the effects on particular services … whether it's the police, the fire brigade, hospitals, electrical supply or other things,” he said at a press conference with Italian Prime Minister Mario Draghi.

“As well as the wide-reaching contact reductions that we have already implemented … we will bring other areas into play.

A new set of rules to be agreed between Mr Scholz and state leaders on Tuesday would affect the social contacts of vaccinated people, he said. Currently, only unvaccinated people are subject to limits.

“We have crossed a critical number of Omicron infections, and this wave can no longer be stopped completely,” said German Health Minister Karl Lauterbach.

Although three vaccine doses are believed to greatly reduce serious illness, those calling for restrictions argue that even a small proportion of severe cases could put pressure on Europe’s hospitals.

The Omicron variant is dominant in the UK and Ireland, and infections are thought to be doubling every few days in Denmark, Norway and the Netherlands in the countdown to Christmas.

Christmas markets are clouded by health restrictions in Austria, and banned altogether in parts of Germany, while moves to limit travel have put the winter holiday season in question.

In Vienna, thousands of people lit candles stretching around the capital’s ring road on Sunday to commemorate those who have died from Covid-19 in Austria.

Austria’s unvaccinated people will get a Christmas respite from a lockdown that has applied to them since last month, but it will then be extended until January 10.

The Netherlands made its move on Sunday by returning to a strict lockdown over Christmas, with social visits limited and schools and non-essential businesses closed.

Poland has moved schools to remote learning until January 9, and tightened capacity limits in restaurants and hotels. Ireland is closing restaurants at 8pm, while Denmark is shutting cinemas and other venues.

In France, unions were called in for talks on making health passes compulsory in the workplace, as well as for restaurants and cultural venues.

From January, negative tests will no longer qualify people for a pass, meaning only those who are vaccinated or recovered will be eligible.

Austrians form a ring of light around Vienna's ring road to commemorate the country's 13,000 lives lost to Covid-19. AP
Austrians form a ring of light around Vienna's ring road to commemorate the country's 13,000 lives lost to Covid-19. AP

France has more than 15,000 patients in hospital, the most for six months. In Italy, average daily deaths are above 100 for the first time since June.

Britain has seen days of record-shattering infection numbers but the ruling Conservatives are divided over whether to tighten restrictions.

Advisers issued a warning that delaying measures until after Christmas would limit their effectiveness in slowing the spread of Omicron.

But 100 Conservative MPs rebelled against lighter measures only last week, and Prime Minister Boris Johnson is at a political low point after a series of scandals.

Ministers hope that the UK’s booster programme, one of the fastest in Europe, will prevent a return to severe restrictions. More than half the adult population has received a top-up dose.

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.”

Pots for the Asian Qualifiers

Pot 1: Iran, Japan, South Korea, Australia, Qatar, United Arab Emirates, Saudi Arabia, China
Pot 2: Iraq, Uzbekistan, Syria, Oman, Lebanon, Kyrgyz Republic, Vietnam, Jordan
Pot 3: Palestine, India, Bahrain, Thailand, Tajikistan, North Korea, Chinese Taipei, Philippines
Pot 4: Turkmenistan, Myanmar, Hong Kong, Yemen, Afghanistan, Maldives, Kuwait, Malaysia
Pot 5: Indonesia, Singapore, Nepal, Cambodia, Bangladesh, Mongolia, Guam, Macau/Sri Lanka

The specs: 2018 Jeep Grand Cherokee Trackhawk


Price, base: Dh399,999
Engine: Supercharged 6.2-litre V8
Gearbox: Eight-speed automatic
Power: 707hp @ 6,000rpm
Torque: 875Nm @ 4,800rpm
Fuel economy, combined: 16.8L / 100km (estimate)

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20WonderTree%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20April%202016%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Muhammad%20Waqas%20and%20Muhammad%20Usman%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Karachi%2C%20Pakistan%2C%20Abu%20Dhabi%2C%20UAE%2C%20and%20Delaware%2C%20US%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Special%20education%2C%20education%20technology%2C%20assistive%20technology%2C%20augmented%20reality%3Cbr%3EN%3Cstrong%3Eumber%20of%20staff%3A%20%3C%2Fstrong%3E16%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EGrowth%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Grants%20from%20the%20Lego%20Foundation%2C%20UAE's%20Anjal%20Z%2C%20Unicef%2C%20Pakistan's%20Ignite%20National%20Technology%20Fund%3C%2Fp%3E%0A

Innotech Profile

Date started: 2013

Founder/CEO: Othman Al Mandhari

Based: Muscat, Oman

Sector: Additive manufacturing, 3D printing technologies

Size: 15 full-time employees

Stage: Seed stage and seeking Series A round of financing 

Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now. 

What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

Schedule for show courts

Centre Court - from 4pm UAE time

Johanna Konta (6) v Donna Vekic

Andy Murray (1) v Dustin Brown

Rafael Nadal (4) v Donald Young

 

Court 1 - from 4pm UAE time

Kei Nishikori (9) v Sergiy Stakhovsky

Qiang Wang v Venus Williams (10)

Beatriz Haddad Maia v Simona Halep (2)

 

Court 2 - from 2.30pm

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Jo-Wilfried Tsonga (12) v Simone Bolelli

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Updated: December 20, 2021, 3:51 PM