One consequence of the Covid-19 pandemic was that the World Health Organisation, previously a body of interest mainly to doctors, policymakers and diplomats, was catapulted into the global public consciousness. As humanity faced collective danger, the WHO’s pronouncements were followed avidly by ordinary people across the world during the pandemic.
As a result, when the WHO speaks, people listen. On Wednesday, its director general, Dr Tedros Adhanom Ghebreyesus, confirmed that an outbreak of a new strain of the mpox virus in the Democratic Republic of the Congo and neighbouring countries has been classified as a public health emergency. Mpox is a dangerous virus that can cause fever, swelling of the lymph nodes, pain and skin lesions. In some cases, it can be fatal, especially to children.
Although we have been here before – the WHO declared another mpox emergency in July 2022 – there are worrying indications that this outbreak could be different. Speaking in early July as more information about this new strain – called clade 1b – emerged, Prof David Heymann of the London School of Hygiene and Tropical Medicine warned that the virus had an estimated mortality rate of 10 per cent, much higher than the 1.4 per cent mortality rate for Covid-19 in New York City. The strain was behaving differently too, Prof Heymann added, with human-to-human transmission posing a “great risk” to younger populations born since smallpox vaccination was discontinued.
Although it is important not to be alarmist – Covid and mpox are very different illnesses – a failure to act decisively could have serious consequences for global health. Already, senior WHO figures are warning against complacency. One such expert – Prof Dimie Ogoina – this week described the current wave of mpox infections as “an emergency, not only for Africa, but for the entire globe” and blamed previous neglect for contributing to 2022’s global outbreak.
In the battle against infectious disease, it is vital that governments and global healthcare bodies follow the science. Sadly, many unhelpful misconceptions surround mpox. An earlier variant was spread largely among men who have sexual contact with other men, but that is no longer the case. Nor is the virus destined to be confined to sub-Saharan Africa. Allowing these notions to breed complacency would be a repeat of mistakes made in the 1980s, when HIV/Aids was identified.
Although it is important not to be alarmist – Covid and mpox are very different illnesses – a failure to act decisively could have serious consequences for global health
The WHO has previously warned of the dangers that accompany such attitudes. Speaking during the previous global mpox emergency in 2022, Meg Doherty, the organisation’s global director for HIV, Hepatitis and STI Programmes, said the WHO had “learned over the 40 years of the HIV response that stigma and discrimination are critical barriers to equitable access to prevention, treatment and care”.
Indeed, the focus should now be on a co-ordinated international approach to help the infected and prevent the disease from spreading further. The WHO has said $15 million in immediate funding is needed to support surveillance, preparedness and response activities. Underlining this urgency is that fact that some experts think the true number of mpox infections is much higher than official totals due to unreported cases.
Humanity learned much from the painful experience of the Covid years. If those harsh lessons are to be put to good use, a fitting place to start is in ensuring that other threats to global health – such as mpox – are nipped in the bud.
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Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
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.”
Three ways to boost your credit score
Marwan Lutfi says the core fundamentals that drive better payment behaviour and can improve your credit score are:
1. Make sure you make your payments on time;
2. Limit the number of products you borrow on: the more loans and credit cards you have, the more it will affect your credit score;
3. Don't max out all your debts: how much you maximise those credit facilities will have an impact. If you have five credit cards and utilise 90 per cent of that credit, it will negatively affect your score.
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Specs%20
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The years Ramadan fell in May
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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Veil (Object Lessons)
Rafia Zakaria
Bloomsbury Academic
Results
4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m; Winner: MM Al Balqaa, Bernardo Pinheiro (jockey), Qaiss Aboud (trainer)
5pm: Jabel Faya – Maiden (PA) Dh60,000 (T) 1,000m; Winner: AF Rasam, Tadhg O’Shea, Ernst Oertel
5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel
6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m; Winner: Mujeeb, Richard Mullen, Salem Al Ketbi
6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m; Winner: Jawal Al Reef, Antonio Fresu, Abubakar Daud
7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m; Winner: Ashton Tourettes, Pat Dobbs, Ibrahim Aseel
7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m; Winner: Nibraas, Richard Mullen, Nicholas Bachalard
What went into the film
25 visual effects (VFX) studios
2,150 VFX shots in a film with 2,500 shots
1,000 VFX artists
3,000 technicians
10 Concept artists, 25 3D designers
New sound technology, named 4D SRL
The five pillars of Islam
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Top 10 most polluted cities
- Bhiwadi, India
- Ghaziabad, India
- Hotan, China
- Delhi, India
- Jaunpur, India
- Faisalabad, Pakistan
- Noida, India
- Bahawalpur, Pakistan
- Peshawar, Pakistan
- Bagpat, India