Live updates: follow the latest news on Covid-19 variant Omicron
About 132 million coronavirus shots were given last year amid the largest vaccine campaign in British history.
More than 90 per cent of people in the UK over the age of 12 have now had their first dose of a Covid-19 vaccine and 82.4 per cent have had their second.
The emergence of the Omicron variant pushed authorities to expand vaccination efforts over the festive season and more than 1.6 million people received their booster dose in the final week of 2021.
This brought the total UK number of boosted adults to 34 million, including three in four eligible adults in England.
Health Secretary Sajid Javid thanked NHS staff and tens of thousands of volunteers for the success of the programme since December 2020, and urged more people to get their booster in the new year.
“The Covid-19 pandemic has been one of the biggest challenges our health service has ever faced and our historic vaccination programme has been vital in helping us step up to meet this challenge,” he said.
Mr Javid added that “132 million vaccinations in a single year is astounding and a true reflection of the fantastic work of our NHS and its volunteers” and said: “I want to thank each and every one of them.
“But we need to make sure people continue to come forward for their life-saving jab.
“As we go into the New Year, make sure you ‘Get Boosted Now’ to kick off 2022 with the best possible protection from Omicron.”
Prime Minister Boris Johnson set the target of offering all eligible adults the chance to get their top-up shots by the end of January, but following the emergence of Omicron he brought forward the deadline to the start of the year.
Millions of Britons queued at about 3,000 vaccination centres. On December 18, NHS England administered a record 830,000 shots in a single day.
The acceleration of the programme was supported by 750 armed forces workers, and the government suspended the 15-minute observation period following Pfizer and Moderna boosters for most patients.
Vaccines minister Maggie Throup urged more adults to come forward in the new year, and described the distribution of doses as a source of national pride.
“The UK Covid-19 vaccination programme is something we can all be proud of – having provided tens of millions of people with protection from this deadly virus over the past year,” said Ms Throup.
Recent UK Health Security Agency data shows people who are unvaccinated are up to eight times more likely to be admitted to hospital than those who are fully vaccinated.
Coronavirus cases are continuing to rise across the world, and one in 25 people in England had the virus last week, according to ONS data. This figure increases to one in 15 in London.
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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Company profile
Name: Tratok Portal
Founded: 2017
Based: UAE
Sector: Travel & tourism
Size: 36 employees
Funding: Privately funded
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