Cases of Covid-19 are higher in women than men in Saudi Arabia because they are less likely to be vaccinated against the deadly virus, the kingdom’s health ministry said on Sunday.
The kingdom has reported a spike in cases during the last few weeks with daily cases reaching nearly 1,000 in comparison to less than 500 per day last month.
Nearly 55 per cent of the recently reported cases are among women in the country due to a lack of female demand for getting vaccinated, Dr Mohammed Al Abdul Ali, assistant Minister of Health and the ministry’s spokesman said.
“There has also been a surge in the number of women who have been admitted to intensive care units after their conditions turned critical,” Dr Ali said.
Women’s uptake of the vaccine is “below the expected level”, he said.
Dr Ali urged all citizens and residents to ensure they get the vaccination to prevent the virus from spreading and to ensure their health condition does not deteriorate if they catch it.
“The condition of all those who have previously taken it, both male and female from different age groups, is reassuring and they have not developed any health problems or unexpected symptoms so far,” he said.
The increased number of cases “is worrying,” he said, adding that case numbers are higher than at the beginning of the year due to a lack of commitment in getting the vaccine.
Saudi Arabia has given more than seven million doses of coronavirus vaccines to citizens and residents as part of its immunisation drive.
The health ministry said vaccines were given at more than 587 sites across the kingdom.
Saudi Arabia approved the AstraZeneca and Moderna vaccines in January to speed up the inoculation campaign.
Prior to the new year, the Pfizer-BioNTech vaccine was in use.
Those wishing to get a vaccine can do so by applying through the Tawakkalna mobile app.
The development comes as the country's interior ministry warned it would reimpose health measures such as quarantining and isolating cities and neighbourhoods if public negligence continues.
“Despite the efforts taken by the government to curb the spread of the virus and ensuring that the public’s health is a priority, we are still seeing many citizens and residents not adhering to the measures imposed,” Talal Al Shalhoub, an interior ministry spokesman said late Sunday.
Mr Al Shalhoub said those who violate isolation or quarantine measures will face a maximum fine of SR200,000 or imprisonment of two years, or of both.
"In the event of repeating the violation, the penalty will be doubled,” he said.
The total number of infected cases in Saudi Arabia currently stands at 404,970 while fatalities from the virus have reached 6,823.
How the UAE gratuity payment is calculated now
Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.
The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.
1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):
a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33
b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.
2. For those who have worked more than five years
c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.
Note: The maximum figure cannot exceed two years total salary figure.
How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press
Points tally
1. Australia 52; 2. New Zealand 44; 3. South Africa 36; 4. Sri Lanka 35; 5. UAE 27; 6. India 27; 7. England 26; 8. Singapore 8; 9. Malaysia 3
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UAE currency: the story behind the money in your pockets
Indoor Cricket World Cup Dubai 2017
Venue Insportz, Dubai; Admission Free
Fixtures - Open Men 2pm: India v New Zealand, Malaysia v UAE, Singapore v South Africa, Sri Lanka v England; 8pm: Australia v Singapore, India v Sri Lanka, England v Malaysia, New Zealand v South Africa
Fixtures - Open Women Noon: New Zealand v England, UAE v Australia; 6pm: England v South Africa, New Zealand v Australia
CHATGPT%20ENTERPRISE%20FEATURES
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