People in the UAE no longer have to wear masks inside malls and most other indoor public spaces. The National
People in the UAE no longer have to wear masks inside malls and most other indoor public spaces. The National
People in the UAE no longer have to wear masks inside malls and most other indoor public spaces. The National
People in the UAE no longer have to wear masks inside malls and most other indoor public spaces. The National


What next for Covid-19 in the UAE?


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September 28, 2022

Two and a half years ago, authorities in the UAE were compelled to bring in mask-wearing regulations to fight the spread of Covid-19. Albeit only temporary, these measures changed the face of life in the country, as they did in a number of others.

At points they were some of the strictest internationally, and alongside people's co-operation, quick vaccine uptake and a massive testing infrastructure, the UAE was able to emerge quickly from lockdowns and control the virus. The UAE has been cited time and again as a country with one of the most successful Covid-19 strategies, and it has maintained a low death rate in those who suffered from the coronavirus.

It might have been a quick opening up by global standards, but it was still staggered. Today, the country enters a major new phase. From September 28 people will only need to wear masks in places of worship, hospitals and on public transport. It means, for the most part, masks are no longer mandated indoors.

  • A security guard works without a mask in the Times Square Centre after safety measures were lifted last September. Dubai. Chris Whiteoak / The National
    A security guard works without a mask in the Times Square Centre after safety measures were lifted last September. Dubai. Chris Whiteoak / The National
  • Masks are no longer required at indoor places such as malls like Times Square Centre in Dubai. Chris Whiteoak / The National
    Masks are no longer required at indoor places such as malls like Times Square Centre in Dubai. Chris Whiteoak / The National
  • A Covid-19 safety sign is removed from Times Square Centre after face mask rules were removed. Chris Whiteoak / The National
    A Covid-19 safety sign is removed from Times Square Centre after face mask rules were removed. Chris Whiteoak / The National
  • People have not been required to wear masks in the Emirates for 12 months. Chris Whiteoak / The National
    People have not been required to wear masks in the Emirates for 12 months. Chris Whiteoak / The National
  • People shop in the Times Square Centre without masks after rules are lifted in malls. Dubai. Chris Whiteoak / The National
    People shop in the Times Square Centre without masks after rules are lifted in malls. Dubai. Chris Whiteoak / The National
  • Mandatory wearing of face masks was no longer be required in schools in the UAE as of September 28, 2022. Shruti Jain / The National
    Mandatory wearing of face masks was no longer be required in schools in the UAE as of September 28, 2022. Shruti Jain / The National
  • Al Hosn app was introduced to keep track of people's vaccination records and PCR test results during the pandemic. Khushnum Bhandari / The National
    Al Hosn app was introduced to keep track of people's vaccination records and PCR test results during the pandemic. Khushnum Bhandari / The National
  • Until late February 2022, face masks were mandatory outside in the UAE. Khushnum Bhandari/ The National
    Until late February 2022, face masks were mandatory outside in the UAE. Khushnum Bhandari/ The National
  • School childre nare no longer required to wear face masks. Shruti Jain/ The National
    School childre nare no longer required to wear face masks. Shruti Jain/ The National
  • The virtually empty Abu Dhabi-Dubai motorway on the first day of the UAE deep-cleaning campaign in 2020. Victor Besa / The National
    The virtually empty Abu Dhabi-Dubai motorway on the first day of the UAE deep-cleaning campaign in 2020. Victor Besa / The National
  • On March 27, 2020, workers began the UAE cleaning campaign. Victor Besa / The National
    On March 27, 2020, workers began the UAE cleaning campaign. Victor Besa / The National

One group, in particular, welcoming the move is teachers. The National spoke to Rebecca Coulter, principal at Dubai British School Jumeirah Park, who said: "For our younger pupils, those in years one and two, learning in masks is all they have known. It will be wonderful for them to see the faces of their teachers and their peers and to learn without the confines of a mask.” Clare Turnbull, principal at Royal Grammar School Guildford Dubai, made an important point about young people's mental health, something that has been greatly affected by the pandemic. She believes that seeing the facial expressions of others will reduce anxiety, as well as improve learning.

Masks are not the only measure to have been revised. The home isolation period for infected people is now reduced from 10 days to five. Only those who test positive will need to quarantine, not close contacts. In Abu Dhabi, residents now only need to be tested once every 30 days to keep the Al Hosn app green, rather than every 14.

This does not mean that people should refrain from masks if they make them feel safer or if they have underlying conditions. It simply allows a greater degree of flexibility, one that reinforces the country being firmly on the track to pre-pandemic normality.

But these revised measures also reflect something deeper than an improving health situation. They show the country has come to an advanced state of living with Covid-19, factoring it into daily life safely and responsibly. This is the belief of many governments abroad, too. US President Joe Biden declared the pandemic over in a recent interview and from October 1 Canada is lifting all Covid-19 entry and travel restrictions.

Crucially, it also means that healthcare systems globally are no longer at risk of being overwhelmed, and that people are more aware of proper hygiene. The pandemic was a lesson in properly washing hands, cleaning surfaces and how to socially distance when near someone infected with a virus.

There is one final change UAE authorities announced that is perhaps the most symbolic of all. The number of daily Covid-19 cases will no longer be published. That does not mean the virus is out of the country. It means that the severe risks it posed in the beginning are. That is something about which everyone in the UAE can feel proud.

RESULTS
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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.”

Innotech Profile

Date started: 2013

Founder/CEO: Othman Al Mandhari

Based: Muscat, Oman

Sector: Additive manufacturing, 3D printing technologies

Size: 15 full-time employees

Stage: Seed stage and seeking Series A round of financing 

Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now. 

Persuasion
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Company profile

Company name: Dharma

Date started: 2018

Founders: Charaf El Mansouri, Nisma Benani, Leah Howe

Based: Abu Dhabi

Sector: TravelTech

Funding stage: Pre-series A 

Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs

Bio:

Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour

Favourite Hobby: Serving poor people 

Favourite Book: The Alchemist by Paulo Coelho

Favourite food: Fish and vegetables

Favourite place to visit: London

Updated: June 02, 2023, 11:17 AM