Medical researchers warned governments yesterday that without urgent action such as taxing junk food, developed nations would be in the grips of an obesity crisis within 20 years.
In a series of articles published yesterday in the The Lancet, a medical journal, the researchers said that a United Nations meeting on obesity in New York next month offered a "once in a lifetime opportunity for the world to get on top of this problem".
The scientists said that not a single nation had properly got to grips with the issue and that, unless they did, health systems could end up being swamped by medical conditions associated with obesity, such as heart problems, diabetes and cancer.
The warnings come on the heels of a recent survey by Seha, the Abu Dhabi health services company, which found that 29 per cent of children in the capital were either overweight or obese.
The UAE has second highest rate of diabetes in the world.
Researchers said the problems were not new and were caused by an abundance of rich food, too little exercise and an unwillingness of policymakers to take action such as taxing junk food, limiting advertising by unhealthy fast food companies, introducing better food labelling, giving state help to parents with overweight children and providing surgery for overweight adults and children.
In the US, which along with the UK has the highest obesity rate, it was estimated on current trends that there would be 65 million additional obese adults by 2030, bringing the total to 164 million. Healthcare spending on illnesses associated with obesity would increase by US$66 billion (Dh242bn) over the same period.
Prof Steven Gortmaker, a Harvard University academic who co-led an analysis of the causes of the obesity epidemic, said it was vital for governments to put effective policies in place immediately.
"A good place to start is to begin by thinking about children," he said.
"Children cannot distinguish between fact and fantasy. They're not making their own decisions here."
Prof Klim McPherson, another of the lead researchers from Oxford University, said the problem needed to be treated as seriously as smoking but that governments had shied away from taking decisive action.
He said that, while he believed many politicians appreciated the problem, they shied away from taking action because of fears they would be accused of trying to impose a "nanny state".
"They don't want to be labelled with that particular insult, as they see it," he told a press conference in London.
"I think they do 'get it' [the obesity problem] but they don't know what to do about it, and they don't think it's their essential responsibility."
Prof Boyd Swinburn, who is based in Australia and works for the World Health Organisation, also criticised governments' reticence to confront what he described as the "obesity crisis".
"There is more willingness to invest in drugs and surgery than dealing with the underlying causes," he said, adding that the international food industry had been effective in getting people "addicted" to their products while blocking proposals to discourage consumption.
dsapsted@thenational.ae
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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.”
World ranking (at month’s end)
Jan - 257
Feb - 198
Mar - 159
Apr - 161
May - 159
Jun – 162
Currently: 88
Year-end rank since turning pro
2016 - 279
2015 - 185
2014 - 143
2013 - 63
2012 - 384
2011 - 883
COMPANY%20PROFILE
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Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners
DUNE%3A%20PART%20TWO
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Denis%20Villeneuve%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Timothee%20Chamalet%2C%20Zendaya%2C%20Austin%20Butler%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%205%2F5%3C%2Fp%3E%0A
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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F1 drivers' standings
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3. Valtteri Bottas, Mercedes 222
4. Daniel Ricciardo, Red Bull 177
5. Kimi Raikkonen, Ferrari 138
6. Max Verstappen, Red Bull 93
7. Sergio Perez, Force India 86
8. Esteban Ocon, Force India 56
THE BIO
Ms Davison came to Dubai from Kerala after her marriage in 1996 when she was 21-years-old
Since 2001, Ms Davison has worked at many affordable schools such as Our Own English High School in Sharjah, and The Apple International School and Amled School in Dubai
Favourite Book: The Alchemist
Favourite quote: Failing to prepare is preparing to fail
Favourite place to Travel to: Vienna
Favourite cuisine: Italian food
Favourite Movie : Scent of a Woman
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
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The specs
Engine: 3.0-litre flat-six twin-turbocharged
Transmission: eight-speed PDK automatic
Power: 445bhp
Torque: 530Nm
Price: Dh474,600
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