Guests wear face masks at the Dubai Airshow in Jebel Ali last November. EPA
Guests wear face masks at the Dubai Airshow in Jebel Ali last November. EPA
Guests wear face masks at the Dubai Airshow in Jebel Ali last November. EPA
Guests wear face masks at the Dubai Airshow in Jebel Ali last November. EPA


As the UAE approaches the pandemic finish line, what's next?


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September 29, 2022

During a Covid-19 media briefing on Monday evening, the National Emergency Crisis and Disaster Management Authority announced the relaxation of a raft of safety measures.

The announcement moves us on to a very different footing although, as the virus has delivered many surprises over nearly three years and may well continue to do so, it probably does not mean that Covid-19 is over just yet – but we are getting much closer. The authority intimated as much, acknowledging that the current situation is stable but that the “pandemic is ongoing and the next phase will require community responsibility”.

NCEMA said on Monday that the mandate governing the use of face masks indoors would be relaxed except for in a few situations, such as on public transport, hospital visits and in places of worship. While this, of course, is the most visible, welcome and immediate change to our daily lives, the other measures are equally significant in their own ways.

The Covid-19 home quarantine period has been reduced to five days from 10 and close contacts are now asked to test as a precaution and then act accordingly.

The Al Hosn app will retain green status for 30 days following a negative test rather than 14 days, more than doubling the validity period of routine PCR testing regimes for vaccinated people. Unvaccinated community members also now have longer green status validity periods after testing. And finally, daily caseloads will no longer be reported by the authorities.

It is easy to understand why all this has happened now.

NCEMA said on Monday that “we are witnessing a recovery from the pandemic, as the situation is stable in the country, and cases are declining while deaths are nearly zero". Low cases and better outcomes equals a firm step in the better direction and, it seems, a future with fewer masks.

  • A member of staff takes down signage urging pupils to keep wearing masks at Brighton College in Dubai. Schools no longer require children and teachers to wear masks. All photos: Chris Whiteoak / The National
    A member of staff takes down signage urging pupils to keep wearing masks at Brighton College in Dubai. Schools no longer require children and teachers to wear masks. All photos: Chris Whiteoak / The National
  • Masks are no longer mandatory at schools. The relaxation of Covid-19 protocols comes amid a sharp drop in infection rates in recent months.
    Masks are no longer mandatory at schools. The relaxation of Covid-19 protocols comes amid a sharp drop in infection rates in recent months.
  • Kirk, aged 18, with Michael Darby, head of science, conducts an experiment without face masks at Brighton College in Dubai.
    Kirk, aged 18, with Michael Darby, head of science, conducts an experiment without face masks at Brighton College in Dubai.
  • Pupils in a Year 6 class at Brighton College study without their masks.
    Pupils in a Year 6 class at Brighton College study without their masks.
  • Mr Tavner teaches a Year 5 class on Wednesday morning. Masks are no longer mandatory at schools such as Brighton College in Dubai.
    Mr Tavner teaches a Year 5 class on Wednesday morning. Masks are no longer mandatory at schools such as Brighton College in Dubai.
  • Pupils in a Year 6 class study without masks after Covid-19 rules were relaxed.
    Pupils in a Year 6 class study without masks after Covid-19 rules were relaxed.
  • Antonio studies in his Year 6 class.
    Antonio studies in his Year 6 class.
  • Mrs Clayton teaches her Year 3 class, who no longer have to wear masks.
    Mrs Clayton teaches her Year 3 class, who no longer have to wear masks.
  • A pupil in a Year 3 class at Brighton College. Masks are no longer mandatory at schools in the UAE.
    A pupil in a Year 3 class at Brighton College. Masks are no longer mandatory at schools in the UAE.
  • Year 8 drama students at Brighton College perform without face masks for the first time in more than two and a half years.
    Year 8 drama students at Brighton College perform without face masks for the first time in more than two and a half years.
  • Pupils in a Year 5 class at Brighton School in Dubai. From Wednesday, schools nationwide will not require children or teachers to wear masks.
    Pupils in a Year 5 class at Brighton School in Dubai. From Wednesday, schools nationwide will not require children or teachers to wear masks.
  • Pupils in a Year 6 class at Brighton College. Masks are no longer mandatory at schools.
    Pupils in a Year 6 class at Brighton College. Masks are no longer mandatory at schools.
  • Pupils in a Year 3 class enjoy school without masks.
    Pupils in a Year 3 class enjoy school without masks.
  • Myla, 10, studies in Year 6 at Brighton College on Wednesday morning. Masks are no longer mandatory at UAE schools.
    Myla, 10, studies in Year 6 at Brighton College on Wednesday morning. Masks are no longer mandatory at UAE schools.
There has been a gradual change leading up to Monday’s welcome announcement

Average reported cases have been declining since reaching a recent peak in early July, vaccination rates are high and, more importantly, outcomes from positive tests have continued to improve as knowledge and understanding of the complexities of the virus has grown. The uncertain world of the earliest days of the pandemic has been replaced by the greater certainty and higher confidence of today.

There has, of course, been a gradual change leading up to Monday’s welcome announcement.

The outdoor face mask mandate was withdrawn in February, requirements for social distancing were reduced as capacity limits were increased at public venues, border controls were eased earlier this year, temporary drive-through testing centres have been packed away and protocols redrawn as the threat of the virus has declined. Under Monday’s announcement, “event organisers can decide on the precautionary measures to be applied, according to the situation".

The country’s considered approach to the pandemic has consistently placed it in the upper reaches of the Bloomberg Resilience Index and, today, puts it top of a nation brand performance league table that measures a number of metrics, including perception and performance.

No longer tracking those daily figures of infections and recoveries will be a hard habit to break for some, me included, given they have been a fixture of our lives for more than two years, although this type of data will still be shared on government websites.

Daily reporting also only offered a snapshot rather than giving deeper insights. Its absence will help balance our emotional reaction to the pandemic. Stress has often risen and fallen in the same way cases have ebbed and flowed since 2020. The recovery period should be far less visceral than the most intense periods of the pandemic.

Residents are a big show for PCR and vaccination tests at the Seha Covid-19 Drive-Through Service Centre at the Corniche in Abu Dhabi last June. Victor Besa / The National
Residents are a big show for PCR and vaccination tests at the Seha Covid-19 Drive-Through Service Centre at the Corniche in Abu Dhabi last June. Victor Besa / The National

The other obvious downside of publishing stats daily is that they offer a lagging picture of where the progress of the virus is and are focused on infections, not outcomes.

Many of the precautionary measures that were introduced at the start of the pandemic were put in place to prevent the healthcare system being overwhelmed with hospitalisations. That they were not overrun is testament to the broader strength of the healthcare architecture and Covid-19 response, but raw numbers do not capture that positive reality.

The final step in the broader recovery journey may be to replace routine testing with the ability to only test when needed, such as is if a citizen or resident felt unwell or was presenting with Covid-19 symptoms and wanted to check if they were infected.

Some of the keynotes of the NCEMA briefing indicated that social responsibility will be key in the next phase and a further movement towards home tests or self-certification of testing would be consistent with that.

NCEMA reminded listeners and viewers on Monday that the first positive case was identified in the UAE during the final days of January 2020, so it has been a long haul. And as we approach the finish line of the pandemic, there is also profound awareness of what it has left behind – including generational health and well-being challenges, such as burnout, anxiety and long Covid – which will require prudent and responsible management. That, perhaps, will be one of the greatest challenges of the next phase, but it should not lessen the sense that Monday marked a clear and welcome step towards our collective future.

UEFA CHAMPIONS LEAGUE FIXTURES

All kick-off times 10.45pm UAE ( 4 GMT) unless stated

Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid

Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona

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.”

Basquiat in Abu Dhabi

One of Basquiat’s paintings, the vibrant Cabra (1981–82), now hangs in Louvre Abu Dhabi temporarily, on loan from the Guggenheim Abu Dhabi. 

The latter museum is not open physically, but has assembled a collection and puts together a series of events called Talking Art, such as this discussion, moderated by writer Chaedria LaBouvier. 

It's something of a Basquiat season in Abu Dhabi at the moment. Last week, The Radiant Child, a documentary on Basquiat was shown at Manarat Al Saadiyat, and tonight (April 18) the Guggenheim Abu Dhabi is throwing the re-creation of a party tonight, of the legendary Canal Zone party thrown in 1979, which epitomised the collaborative scene of the time. It was at Canal Zone that Basquiat met prominent members of the art world and moved from unknown graffiti artist into someone in the spotlight.  

“We’ve invited local resident arists, we’ll have spray cans at the ready,” says curator Maisa Al Qassemi of the Guggenheim Abu Dhabi. 

Guggenheim Abu Dhabi's Canal Zone Remix is at Manarat Al Saadiyat, Thursday April 18, from 8pm. Free entry to all. Basquiat's Cabra is on view at Louvre Abu Dhabi until October

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

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What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

Banthology: Stories from Unwanted Nations
Edited by Sarah Cleave, Comma Press

MATCH INFO

Osasuna 1 Real Madrid 4
Osasuna: García (14')
Real Madrid: Isco (33'), Ramos (38'), Vázquez (84'), Jovic (90' 2)

Updated: September 29, 2022, 2:00 PM