Pupils at Mendel College in Haarlem, Netherlands, pile into class on the first day back on 19 August 2020. Many governments have sought to open schools and offices, as they weigh up the risk of a second wave against the economic and social impact of prolonged closures. EPA
Pupils at Mendel College in Haarlem, Netherlands, pile into class on the first day back on 19 August 2020. Many governments have sought to open schools and offices, as they weigh up the risk of a second wave against the economic and social impact of prolonged closures. EPA
Pupils at Mendel College in Haarlem, Netherlands, pile into class on the first day back on 19 August 2020. Many governments have sought to open schools and offices, as they weigh up the risk of a second wave against the economic and social impact of prolonged closures. EPA
Pupils at Mendel College in Haarlem, Netherlands, pile into class on the first day back on 19 August 2020. Many governments have sought to open schools and offices, as they weigh up the risk of a seco

Covid paradox: Why are cases rising but deaths falling?


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National Editorial: We cannot allow ourselves to tire in the fight against Covid-19

Cases of Covid-19 are on the rise again. In Europe, South Korea, Australia and elsewhere, countries that successfully controlled the virus are now seeing a spike in cases.

The UAE is among the many nations to once again consider localised lockdowns, with officials warning of a 'second wave' if the public does not act responsibly.

Yet like many other countries, the increase in cases here has not been matched by a surge in deaths. So is the virus becoming less deadly - or are we witnessing the calm before the storm of a second wave of Covid-19?

While the mortality rate among over-80s is around 1 in 10, this plunges to 1 in 100 for those between 60 and 69 and is close to zero for those under 40

What do the statistics show?

Globally, the Covid-19 pandemic is still raging, with over 24 million cases resulting in over 800,000 deaths so far. Yet many countries who appeared to have successfully controlled the virus are now seeing renewed surges in Covid-19 cases.

Since the end of June, Spain and France have witnessed almost a ten-fold surge in new infections, now running at several thousand a day.

Even South Korea – widely regarded as a paragon of disease control - has seen a five-fold rise in infections this month, and on Tuesday closed schools in the capital, Seoul. Germany, Italy and the UK are also seeing case numbers rise, though far less dramatically.

In the UAE, the number of cases has crept up to several hundred a day. Active cases rose by 10 per cent in August.

Yet the surge in infections seen in many countries has not been mirrored by rising numbers of deaths, which have largely continued to fall or remain static.

Is the virus getting less lethal?

This is the most obvious explanation. It also fits in with the theory that pandemic viruses tend to mutate into less deadly forms, as they have a better chance of being transmitted if they don’t kill their human hosts.

However studies of Sars-CoV-2 - the scientific name for the coronavirus, which causes Covid-19 - suggest it has a relatively slow mutation rate.

As such, a substantial decrease in its lethality is unlikely to have taken place over recent months.

Are we just getting better at treating the disease?

Greater knowledge and better treatments – such as the use of dexamethasone – have cut death-rates among the seriously ill. While in March almost 60 per cent of Covid-19 patients in intensive care units died, this figure dropped to around 40 per cent by May and is still falling.

However, this can’t explain why the surge in infections has led to virtually unchanged death rates.

Are we simply seeing more cases by testing more people?

This is widely seen as a key part of the explanation. In the early days of the pandemic, many countries were forced to limit tests to people already showing signs of Covid-19 and thus more likely to die from it.

Now the greater availability of testing is leading to positive results from people with mild infections who are much less likely to die.

This weakens the link between number of cases and numbers of deaths. It’s even possible that the actual number of infections has changed little over recent months, and the surge is largely due to detecting cases that were already there.

Isn’t it mainly young people who are driving up the cases?

With testing now more widely available, it is also covering more of the population – especially younger age-groups, who are known to be at substantially lower risk of dying from Covid-19.

recent international study suggests that while the mortality rate among those over-80s who become infected is around 1 in 10, this plunges to around 1 in 100 for those between 60 and 69, and is close to zero for those under 40.

This has prompted fears that re-introducing lockdowns in response to the surge in cases will cause major economic damage in return for little health benefit, as most people of working age are at negligible risk.

So should restrictions apply only to older adults and the vulnerable?   

Some epidemiologists argue for a focused approach to dealing with the surge in cases, based on so-called "stratified" restrictions based on age and health status. Some studies suggest limiting restrictions on around 15 per cent of the population would strike the right balance between protecting the vulnerable and health services while not threatening economic recovery.

There is tentative evidence that people in high-risk categories may have already adopted this strategy voluntarily.

An analysis by the Financial Times of UK statistics show that while new infection rates have surged among younger people since early June, they have plunged among men over 70 and women over 50. This may partly be due to those in these age-groups deliberately taking action to avoid infection.

Should we just ignore the surge?

Not at all. While the surge may be taking place primarily among younger people with very little chance of dying, they remain capable of passing it on to older, more vulnerable people. This risk is likely to increase as more young people are compelled to move back in with their parents because of economic hardship.

Dying from Covid-19 is not the sole outcome of becoming infected, in any case: studies have found that many of those who appear to defeat the virus can still suffer debilitating long-term effects, including organ damage.

Robert Matthews is visiting professor of science at Aston University, Birmingham, UK

Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

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.”

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Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

The biog

Hometown: Cairo

Age: 37

Favourite TV series: The Handmaid’s Tale, Black Mirror

Favourite anime series: Death Note, One Piece and Hellsing

Favourite book: Designing Brand Identity, Fifth Edition

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
From exhibitions to the battlefield

In 2016, the Shaded Dome was awarded with the 'De Vernufteling' people's choice award, an annual prize by the Dutch Association of Consulting Engineers and the Royal Netherlands Society of Engineers for the most innovative project by a Dutch engineering firm.

It was assigned by the Dutch Ministry of Defence to modify the Shaded Dome to make it suitable for ballistic protection. Royal HaskoningDHV, one of the companies which designed the dome, is an independent international engineering and project management consultancy, leading the way in sustainable development and innovation.

It is driving positive change through innovation and technology, helping use resources more efficiently.

It aims to minimise the impact on the environment by leading by example in its projects in sustainable development and innovation, to become part of the solution to a more sustainable society now and into the future.

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

Most sought after workplace benefits in the UAE
  • Flexible work arrangements
  • Pension support
  • Mental well-being assistance
  • Insurance coverage for optical, dental, alternative medicine, cancer screening
  • Financial well-being incentives