People get exercise along the lakeshore path on Lake Ontario on a fall day during the coronavirus pandemic in Toronto, 29 September. Nathan Denette/The Canadian Press via AP
People get exercise along the lakeshore path on Lake Ontario on a fall day during the coronavirus pandemic in Toronto, 29 September. Nathan Denette/The Canadian Press via AP
People get exercise along the lakeshore path on Lake Ontario on a fall day during the coronavirus pandemic in Toronto, 29 September. Nathan Denette/The Canadian Press via AP
People get exercise along the lakeshore path on Lake Ontario on a fall day during the coronavirus pandemic in Toronto, 29 September. Nathan Denette/The Canadian Press via AP

A second lockdown will be especially tough in cold countries


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  • Arabic

Montreal, where I live, is going into lockdown again.

The pattern of rising coronavirus cases is by now familiar to people around the world. Countries that had beaten the virus earlier this spring and "flattened the curve" are now struggling with a second wave. France and Spain, which were hit hard in March, are seeing a resurgence of cases rivalling those in the early days. Germany and the Netherlands are in the grip of a second wave. In countries like the US and India, there wasn't even that brief respite.

This week the Quebec government announced a second lockdown in Montreal and Quebec City, as well as some surrounding regions that are hard hit. Only a few countries have reimposed tough lockdown measures a second time, because lockdowns are extremely unpopular, despite the disaster that unfolds without them in place. Israel imposed one earlier this month.

Canada is no exception. Cases in the worst-hit provinces, Quebec and Ontario, are rising as the global death toll passes 1 million. It is a sombre moment, highlighting the relentlessness of this virus.

Quebec recently reported 896 new cases of Covid-19, a figure that competes with spring infections. Most of the new cases are driven by young people contracting and spreading the virus. So while hospitals are not yet overwhelmed by patients, it is only a matter of time before the more vulnerable are affected.

Doctors are worried that younger people will infect older relatives, and that they will take longer to recover when they go to hospital, tying up resources. There have already been a few cases of infections in nursing homes, which were hit particularly hard in March and April.

In total, Quebec, the province that includes Montreal, had over 73,000 infections earlier this week and more than 5,800 deaths. At the prospect of a second lockdown I am experiencing a condensed version of the various stages of grief, cycling between frustration, anger and resignation at various points of the day. But mostly just resignation brought on by exhaustion.

  • Justin Trudeau, Canada's Prime Minister, puts on a protective mask after a news conference in Ottawa, Ontario, Canada, on 25 September. David Kawai/Bloomberg
    Justin Trudeau, Canada's Prime Minister, puts on a protective mask after a news conference in Ottawa, Ontario, Canada, on 25 September. David Kawai/Bloomberg
  • A healthcare worker poses for a photograph while walking towards a line of patients waiting outside a Covid-19 testing centre at St. Michael's Hospital in Toronto, Ontario, Canada on September 19. Cole Burston/Bloomberg
    A healthcare worker poses for a photograph while walking towards a line of patients waiting outside a Covid-19 testing centre at St. Michael's Hospital in Toronto, Ontario, Canada on September 19. Cole Burston/Bloomberg
  • A bartender talks to a patron at Lemeac restaurant on the first day after the coronavirus restrictions were lifted to visit restaurants in Montreal, Quebec, Canada, on June 22. Christinne Muschi/ Reuters
    A bartender talks to a patron at Lemeac restaurant on the first day after the coronavirus restrictions were lifted to visit restaurants in Montreal, Quebec, Canada, on June 22. Christinne Muschi/ Reuters
  • A boy plays on a phone as he waits in line for hours at a Covid-19 assessment centre at Mount Sinai Hospital during in Toronto on 24 September. Nathan Denette/The Canadian Press via AP
    A boy plays on a phone as he waits in line for hours at a Covid-19 assessment centre at Mount Sinai Hospital during in Toronto on 24 September. Nathan Denette/The Canadian Press via AP
  • People queue up outside a Covid-19 testing centre at Women's College Hospital in Toronto, Ontario, Canada, on September 18. Cole Burston/Bloomberg
    People queue up outside a Covid-19 testing centre at Women's College Hospital in Toronto, Ontario, Canada, on September 18. Cole Burston/Bloomberg
  • A woman at a park in the Montreal financial district on 28 September 28. Paul Chiasson/The Canadian Press via AP
    A woman at a park in the Montreal financial district on 28 September 28. Paul Chiasson/The Canadian Press via AP
  • A pedestrian in Old Montreal, on 28 September. Paul Chiasson/The Canadian Press via AP
    A pedestrian in Old Montreal, on 28 September. Paul Chiasson/The Canadian Press via AP
  • A woman wears a face mask as she walks by a sign advising of the mandatory wearing of masks and face coverings in Montreal, on 21 September. Graham Hughes/The Canadian Press via AP
    A woman wears a face mask as she walks by a sign advising of the mandatory wearing of masks and face coverings in Montreal, on 21 September. Graham Hughes/The Canadian Press via AP
  • Chairs stacked outside a bistro as the Quebec government has ordered all restaurants, bars and casinos to close for 28 days effective midnight September 30 as Covid-19 numbers continue to rise in Montreal, Quebec, Canada, 29 September. Christinne Muschi / Reuters
    Chairs stacked outside a bistro as the Quebec government has ordered all restaurants, bars and casinos to close for 28 days effective midnight September 30 as Covid-19 numbers continue to rise in Montreal, Quebec, Canada, 29 September. Christinne Muschi / Reuters

To be sure, the lockdown is less harsh than the measures earlier in spring. Restaurants and bars will be closed, though the former can still offer takeout meals. Museums and libraries will be closed too. But businesses like gyms and hair salons will remain open. In-house gatherings are banned. Schools and day-cares will remain open, even at the highest alert level. There appears to be a government consensus that the social and economic cost of a full lockdown, even one that may arrest this wave in a shorter time, is too great to bear.

Still, it is frustrating. We are barrelling towards winter, which in Canada can be brutal, and without a vaccine candidate that is widely available in the autumn, an impossible feat, I am having a hard time imagining what life is supposed to look like in the coming months.

At least in the summer and fall, there was the panacea of walks in the park, an evening reading on the balcony, socially-distanced meetings with friends, strolls down the city’s boulevards or up the Mont Royal. It is harder to keep that up in sub-zero temperatures, especially with a baby.

I know I am lucky to be here in a country with a functioning healthcare system...

I am also frustrated because crowded bars were allowed to continue operating for much of the summer, despite quickly emerging as hotspots for the virus to spread. Closing these establishments may have allowed for a milder second wave, particularly one that is being driven by younger residents of the city.

I am worried about the next few months. Current infection rates are lagging indicators – they show a snapshot today, but the deaths and further infections that have already happened will show up only in a couple of weeks. As the premier of neighbouring Ontario, the most populous province in Canada, said, the second wave may end up becoming a tsunami.

I know I am lucky to be here in a country with a functioning healthcare system, a pandemic that did not spiral out of control as it did south of the border and where the government's focus has been on tiding people over financially as they struggle with job loss. The cost of health care is not even an issue. And we are spared political and security instability.

But I cannot help but feel sad at the prospect of yet another season without friends, without the laughter and conversation over a warm meal with family, meetings of minds with strangers or a hot cup of coffee while browsing in my favourite bookstore, smiles unhindered by masks, hugs unhindered by fear.

As our reserves are depleted, we will just have to carry on for a while longer, and perhaps we will eventually see ourselves through this whole mess. As Justin Trudeau, Canada’s Prime Minister, said in a recent speech: “It’s all too likely we won’t be gathering for Thanksgiving, but we still have a shot at Christmas.”

Here’s hoping.

Kareem Shaheen is a veteran Middle East correspondent in Canada

La Mer lowdown

La Mer beach is open from 10am until midnight, daily, and is located in Jumeirah 1, well after Kite Beach. Some restaurants, like Cupagahwa, are open from 8am for breakfast; most others start at noon. At the time of writing, we noticed that signs for Vicolo, an Italian eatery, and Kaftan, a Turkish restaurant, indicated that these two restaurants will be open soon, most likely this month. Parking is available, as well as a Dh100 all-day valet option or a Dh50 valet service if you’re just stopping by for a few hours.
 

SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20S23%20ULTRA
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PETER%20PAN%20%26%20WENDY
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BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES

SolarWinds supply chain attack: Came to light in December 2020 but had taken root for several months, compromising major tech companies, governments and its entities

Microsoft Exchange server exploitation: March 2021; attackers used a vulnerability to steal emails

Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies

Log4j breach: December 2021; attackers exploited the Java-written code to inflitrate businesses and governments

Who has lived at The Bishops Avenue?
  • George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
  • Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
  • Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
  • Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills. 
Hunting park to luxury living
  • Land was originally the Bishop of London's hunting park, hence the name
  • The road was laid out in the mid 19th Century, meandering through woodland and farmland
  • Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds

 

Cricket World Cup League 2

UAE squad

Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind

Fixtures

Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.

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.”

Dunki
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Rajkumar%20Hirani%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Shah%20Rukh%20Khan%2C%20Taapsee%20Pannu%2C%20Vikram%20Kochhar%20and%20Anil%20Grover%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Four-day collections of TOH

Day             Indian Rs (Dh)        

Thursday    500.75 million (25.23m)

Friday         280.25m (14.12m)

Saturday     220.75m (11.21m)

Sunday       170.25m (8.58m)

Total            1.19bn (59.15m)

(Figures in millions, approximate)

Ferrari
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Michael%20Mann%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Adam%20Driver%2C%20Penelope%20Cruz%2C%20Shailene%20Woodley%2C%20Patrick%20Dempsey%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

RACE CARD

6.30pm: Madjani Stakes Group 2 (PA) Dh97,500 (Dirt) 1,900m
7.05pm: Maiden (TB) Dh82,500 (D) 1,400m
7.40pm: Maiden (TB) Dh82,500 (D) 1,600m
8.15pm: Handicap (TB) Dh87,500 (D) 2,200m
8.50pm: Dubai Creek Mile Listed (TB) Dh132,500 (D) 1,600m
9.25pm: Conditions (TB) Dh120,000 (D) 1,900m
10pm: Handicap (TB) Dh92,500 (D) 1,400m

French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

if you go

The flights

Direct flights from the UAE to the Nepalese capital, Kathmandu, are available with Air Arabia, (www.airarabia.com) Fly Dubai (www.flydubai.com) or Etihad (www.etihad.com) from Dh1,200 return including taxes. The trek described here started from Jomson, but there are many other start and end point variations depending on how you tailor your trek. To get to Jomson from Kathmandu you must first fly to the lake-side resort town of Pokhara with either Buddha Air (www.buddhaair.com) or Yeti Airlines (www.yetiairlines.com). Both charge around US$240 (Dh880) return. From Pokhara there are early morning flights to Jomson with Yeti Airlines or Simrik Airlines (www.simrikairlines.com) for around US$220 (Dh800) return. 

The trek

Restricted area permits (US$500 per person) are required for trekking in the Upper Mustang area. The challenging Meso Kanto pass between Tilcho Lake and Jomson should not be attempted by those without a lot of mountain experience and a good support team. An excellent trekking company with good knowledge of Upper Mustang, the Annaurpuna Circuit and Tilcho Lake area and who can help organise a version of the trek described here is the Nepal-UK run Snow Cat Travel (www.snowcattravel.com). Prices vary widely depending on accommodation types and the level of assistance required. 

Women%E2%80%99s%20Asia%20Cup
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MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5