When the Australian cricket team lined up for the national anthems prior to the final Test match of their series against South Africa in Sydney on Wednesday, TV viewers were quick to spot something unusual was going on.
While the majority of the players linked arms in solidarity for the anthems, Matt Renshaw, who had been recalled to the side after a years-long absence from the Australian team, stood a short distance away from his teammates. It was later reported that Renshaw had reportedly feeling unwell before the start of play and subsequently tested positive for Covid-19.
According to matchday protocols, he was required to socially distance from his teammates and so spent much of the first and second day of play sitting a few metres apart from the team dugout. Late in the day’s play on Thursday, Renshaw sat on a white plastic chair still waiting to bat. With Australia firmly in control of the first phase of the game, Renshaw cut a peripheral figure in every sense of the word. When he eventually got called to the middle, rain stopped play a few minutes later.
There were plenty of hot-takes on social media as the anthems played and for hours afterwards. Twitter was abuzz, to use the lingua franca, with those who supported and those who opposed the decision to let him carry on, almost three years after Covid-19 first swept into our lives.
“That’s frankly bizarre,” said one. “Everyone is vaccinated, relaxed and life goes on,” said another. “Very different to 12 months ago,” a third said. If you were so minded, you could have doom-scrolled your way through many more of the same and opposing views on whether he should have been wearing a mask or not.
Each one of those reactions shows how the pandemic is and was a crisis of the individual as well as being a vast public health event that once required unprecedented levels of government intervention. Now that it has largely passed, every one of us has been left with a finely calibrated sense of risk, which confronts us each time Covid-19 moves back into view.
While some of the headlines may sound alarm bells, we should do our utmost to mute the noise
Such occurrences are also a sharp reminder of the realities of what “living with Covid” are. Generally this means that infections will happen, but that our knowledge of Covid-19 and our abilities to tackle the virus are so well-developed that we should be able to sufficiently reduce risk and move confidently forward. The complexities of the early phase of the pandemic, when rules and regulations changed rapidly and there were no available vaccines, have been replaced by sensible guidance. Or have they?
This week, we also saw the other side to the same coin, with restrictions being placed upon travellers from China by several countries, including Australia, the US and the UK, among others.
These new protocols involve a requirement for passengers to be able to show proof of a negative Covid-19 test taken less than two days before departure. In some cases, that requirement extends to passengers as young as two years old being tested before leaving China.
Travel has been restricted from China for the past three years, but strict lockdowns and zero-Covid policies have recently been eased and many people are expected to take trips as the Chinese New Year approaches.
A Chinese state newspaper described the measures as discriminatory, unfounded and tantamount to an attack on the country’s system.
International Air Transport Association director general Willie Walsh said in a statement that the requirement to test travellers from China was a “knee-jerk” reaction before adding that “putting barriers in the way of travel made no difference to the peak spread of infections”, while referencing data gathered during the Omicron wave last year.
He said the world had the “tools to manage Covid-19 without resorting to ineffective measures that cut off international connectivity, damage economies and destroy jobs".
It’s hard to disagree with any of Mr Walsh’s assessments.
One of the key lessons of the pandemic has been that closing borders and restricting movement on a large scale too often creates more problems than it solves. The looming mental health crisis caused by the lagging effects of the pandemic and the enforced bouts of isolation and lockdown that often ensued continue to cast a long shadow over the 2020s, just as the broader economic implications do.
Separately, pre-flight tests provide only a baseline of whether someone has Covid-19 or not. All our acquired knowledge of incubation periods should teach us that testing is useful, but only to a point and testing before departure is an exercise in box-ticking rather than genuine infection control. We should only now be testing when someone feels unwell and presents with Covid-19 symptoms.
Finally, that same bank of Covid-19 knowledge acquired since the earliest days of 2020 provides a vast reserve to call upon with regards to mitigation, immunity, vaccination and treatment.
While some of the headlines around the latest variant “sweeping through the US” or the level of infections in Shanghai may sound alarm bells, we should do our utmost to mute the noise. Each new mutation of the virus may yet prove to be more contagious than the last one, but it may also prove less dangerous and more treatable.
We should be collapsing barriers rather than imposing them.
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Rajasthan Royals 153-5 (17.5 ov)
Delhi Daredevils 60-4 (6 ov)
Rajasthan won by 10 runs (D/L method)
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
Killing of Qassem Suleimani
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.”
The biog
Alwyn Stephen says much of his success is a result of taking an educated chance on business decisions.
His advice to anyone starting out in business is to have no fear as life is about taking on challenges.
“If you have the ambition and dream of something, follow that dream, be positive, determined and set goals.
"Nothing and no-one can stop you from succeeding with the right work application, and a little bit of luck along the way.”
Mr Stephen sells his luxury fragrances at selected perfumeries around the UAE, including the House of Niche Boutique in Al Seef.
He relaxes by spending time with his family at home, and enjoying his wife’s India cooking.
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Yahya Al Ghassani's bio
Date of birth: April 18, 1998
Playing position: Winger
Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda
PROFILE BOX:
Company/date started: 2015
Founder/CEO: Rami Salman, Rishav Jalan, Ayush Chordia
Based: Dubai, UAE
Sector: Technology, Sales, Voice, Artificial Intelligence
Size: (employees/revenue) 10/ 100,000 downloads
Stage: 1 ($800,000)
Investors: Eight first-round investors including, Beco Capital, 500 Startups, Dubai Silicon Oasis, Hala Fadel, Odin Financial Services, Dubai Angel Investors, Womena, Arzan VC