• The US, South Africa and EU will temporarily stop the rollout of the Johnson & Johnson vaccine after rare reports of blood clotting. AP
    The US, South Africa and EU will temporarily stop the rollout of the Johnson & Johnson vaccine after rare reports of blood clotting. AP
  • People wait in line to receive the Johnson & Johnson vaccine at a clinic run by Healthcare Network in Immokalee, Florida. AP Photo
    People wait in line to receive the Johnson & Johnson vaccine at a clinic run by Healthcare Network in Immokalee, Florida. AP Photo
  • A health care worker administers a dose of the Johnson & Johnson vaccine at the Facebook headquarters in Menlo Park, California. Facebook converted part of its headquarters into a vaccination clinic for under-served communities. Bloomberg
    A health care worker administers a dose of the Johnson & Johnson vaccine at the Facebook headquarters in Menlo Park, California. Facebook converted part of its headquarters into a vaccination clinic for under-served communities. Bloomberg
  • A vial of the Johnson & Johnson vaccine. AFP
    A vial of the Johnson & Johnson vaccine. AFP
  • Vials of the Johnson & Johnson vaccine. REUTERS
    Vials of the Johnson & Johnson vaccine. REUTERS
  • Further research could more precisely uncover the mechanism by which the Oxford-AstraZeneca and Johnson & Johnson vaccines may cause rare blood clots. Getty Images / AFP
    Further research could more precisely uncover the mechanism by which the Oxford-AstraZeneca and Johnson & Johnson vaccines may cause rare blood clots. Getty Images / AFP
  • A pharmacy volunteer prepares doses of the Johnson & Johnson vaccine during a pop-up clinic at Western International High School on April 12, 2021 in Detroit, Michigan. Getty Images / AFP
    A pharmacy volunteer prepares doses of the Johnson & Johnson vaccine during a pop-up clinic at Western International High School on April 12, 2021 in Detroit, Michigan. Getty Images / AFP

One in a million: the truth about blood clots and Covid-19 vaccines


Daniel Bardsley
  • English
  • Arabic

The pausing of the Johnson & Johnson Covid-19 vaccine shots has shone further light on the side effects experienced by a very small number of vaccinated people.

As has been widely reported, six people – all women aged under 50 – among the 6.8 million given the Johnson & Johnson vaccine have suffered rare blood clots called cerebral venous sinus thrombosis (CVST).

In response, the US, European Union and South Africa have suspended the vaccine’s use while they investigate the side effects, which have caused one death and left another person in a critical condition.

It echoes problems with the Oxford-AstraZeneca vaccine, which has also been linked to very rare CVST cases.

Among 34 million doses in the European Economic Area, for example, 169 cases of CVST have been reported.

Both vaccines use non-replicating versions of a virus called an adenovirus to deliver genetic material into cells, so a similar mechanism could be behind their rare side effects.

What are the chances of a vaccine causing a blood clot?

The US Food and Drug Administration and the Centres for Disease Control are assessing the 'potential significance' of six reported cases of a rare blood clot in patients who have received the shot. AP Photo
The US Food and Drug Administration and the Centres for Disease Control are assessing the 'potential significance' of six reported cases of a rare blood clot in patients who have received the shot. AP Photo

So far the chances of the AstraZeneca vaccine causing a blood clot is about 1 in 250,000 in the UK, and the chances of the Johnson & Johnson vaccine causing a blood clot is about 1 in a million.

When you compare it with the risk of a blood clot after contracting the Covid-19 virus, these possibilities are minute.

In fact, this study found that blood clots can occur in about 1 in 5 Covid-19 sufferers.

How the vaccines could cause the rare blood clots?

The rare CVST cases are associated with low levels of platelets in the blood, these are tiny cell fragments found in large numbers and associated with clotting.

Also, the blood of people who have suffered the clots has been found to contain antibodies against a protein called platelet factor 4 (PF4).

Scientists think a process involving the antibodies and the platelets could cause clots to form in a small number of patients.

The fact that problems typically emerge one to two weeks after vaccination, according to experts, suggests that an immune response could indeed be at play.

Prof Paul Hunter, an infectious diseases specialist at the University of East Anglia in the UK, said it was similar to a side effect sometimes experienced by people who receive blood-thinning drugs called heparins.

The same antibodies are involved, he said.

“We have no idea why the adenoviral vector vaccine seems to trigger [these] antibodies,” said Prof Hunter.

“One [research] group has suggested the adenovirus itself may break up in the body and release DNA and that’s what’s triggering the immune response. It could be, but I don’t think there’s any good evidence.”

What have the companies and regulators said?

A Covid-19 vaccination card. US health regulators are recommending a 'pause' in using the Johnson & Johnson vaccine to investigate reports of potentially dangerous blood clots. AP Photo
A Covid-19 vaccination card. US health regulators are recommending a 'pause' in using the Johnson & Johnson vaccine to investigate reports of potentially dangerous blood clots. AP Photo

Johnson & Johnson said they have not found a clear link between the rare blood clots and the vaccine it produces, but it is working closely with regulators.

AstraZeneca said it was working to understand individual cases of blood clotting and the "possible mechanisms that could explain these extremely rare events".

The Centres for Disease Control and Prevention (CDC) has recommended pausing the use of single-dose Johnson & Johnson vaccine "out of an abundance of caution".

Britain's Medicines and Healthcare products Regulatory Agency has recommended that for those under 30, a different vaccine is administered.

Will researchers work out what is happening?

Vaccine resarchers are trying to find out the reasons for the blood clots. AP
Vaccine resarchers are trying to find out the reasons for the blood clots. AP

Prof Hunter said further research could more precisely uncover the mechanism by which the Oxford-AstraZeneca and Johnson & Johnson vaccines may cause rare blood clots.

“It’s quite likely that somebody at some point will work out that important step, because without that step, I don’t think we’re going to be able to modify the adenoviral vector vaccines,” he said.

Similar rare blood clots have not been seen with the Pfizer-BioNTech and Moderna vaccines, said Prof Hunter, even though they have both been used in large numbers in countries where vaccinations are heavily monitored.

These vaccines are based on messenger RNA (mRNA) genetic material.

“So we must assume on balance it’s something to do with the adenoviral vector,” he said.

Russia’s Sputnik V and Convidecia from China’s CanSino Biologics are also adenoviral vector vaccines, although there is no evidence they are linked to increased CVST risk.

While the Oxford-AstraZeneca vaccine is based on an adenovirus that infects chimpanzees, Sputnik V employs two adenoviruses that normally cause colds in humans, one of which is the same vector used in the Johnson & Johnson vaccine.

What happens with the adenoviral vector vaccines now?

A medical worker with Northwell Health holds up doses of the Johnson & Johnson coronavirus vaccine at the pop-up vaccination site in New York City. Getty; AFP
A medical worker with Northwell Health holds up doses of the Johnson & Johnson coronavirus vaccine at the pop-up vaccination site in New York City. Getty; AFP

Experts say side effects are extremely rare and, for most people, are vastly outweighed by the benefits of vaccination.

The UK government is relying heavily on the Oxford-AstraZeneca vaccine and is continuing to use it on everyone except under 30s.

Some other European countries have also suspended its use for people under a certain age, and certain Asian nations have imposed restrictions on the vaccine.

Dr Anthony Fauci, chief medical adviser to the US president, has said the US may not need the Oxford-AstraZeneca vaccine because it has enough doses of other vaccines, but the shot remains highly important in global campaigns, including in India, which also manufactures the vaccine.

Prof Hunter said if the US did not restart using the Johnson & Johnson vaccine, which is easy to administer because it issingle-dose, worldwide immunisation programmes could suffer.

“If the US decides not to fully authorise this vaccine, a lot of low-income countries will take the US stance,” he said.

“That’s going to be a big problem for global rollouts of immunisations.”

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

The National in Davos

We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.

Profile box

Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

Tips%20for%20holiday%20homeowners
%3Cp%3EThere%20are%20several%20factors%20for%20landlords%20to%20consider%20when%20preparing%20to%20establish%20a%20holiday%20home%3A%3C%2Fp%3E%0A%3Cul%3E%0A%3Cli%3E%3Cstrong%3ERevenue%20potential%20of%20the%20unit%3A%3C%2Fstrong%3E%20location%2C%20view%20and%20size%3C%2Fli%3E%0A%3Cli%3E%3Cstrong%3EDesign%3A%20furnished%20or%20unfurnished.%3C%2Fstrong%3E%20Is%20the%20design%20up%20to%20standard%2C%20while%20being%20catchy%20at%20the%20same%20time%3F%3C%2Fli%3E%0A%3Cli%3E%3Cstrong%3EBusiness%20model%3A%3C%2Fstrong%3E%20will%20it%20be%20managed%20by%20a%20professional%20operator%20or%20directly%20by%20the%20owner%2C%20how%20often%20does%20the%20owner%20wants%20to%20use%20it%20for%20personal%20reasons%3F%3C%2Fli%3E%0A%3Cli%3E%3Cstrong%3EQuality%20of%20the%20operator%3A%3C%2Fstrong%3E%20guest%20reviews%2C%20customer%20experience%20management%2C%20application%20of%20technology%2C%20average%20utilisation%2C%20scope%20of%20services%20rendered%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3E%3Cem%3ESource%3A%20Adam%20Nowak%2C%20managing%20director%20of%20Ultimate%20Stay%20Vacation%20Homes%20Rental%3C%2Fem%3E%3C%2Fp%3E%0A
The biog

Alwyn Stephen says much of his success is a result of taking an educated chance on business decisions.

His advice to anyone starting out in business is to have no fear as life is about taking on challenges.

“If you have the ambition and dream of something, follow that dream, be positive, determined and set goals.

"Nothing and no-one can stop you from succeeding with the right work application, and a little bit of luck along the way.”

Mr Stephen sells his luxury fragrances at selected perfumeries around the UAE, including the House of Niche Boutique in Al Seef.

He relaxes by spending time with his family at home, and enjoying his wife’s India cooking. 

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Honeymoonish
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Elie%20El%20Samaan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENour%20Al%20Ghandour%2C%20Mahmoud%20Boushahri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
The bio

Favourite book: Kane and Abel by Jeffrey Archer

Favourite quote: “The world makes way for the man who knows where he is going.” - Ralph Waldo Emerson, American essayist

Favourite Authors: Arab poet Abu At-Tayyib Al-Mutanabbi

Favourite Emirati food: Luqaimat, a deep-fried dough soaked in date syrup

Hobbies: Reading and drawing

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Stormy seas

Weather warnings show that Storm Eunice is soon to make landfall. The videographer and I are scrambling to return to the other side of the Channel before it does. As we race to the port of Calais, I see miles of wire fencing topped with barbed wire all around it, a silent ‘Keep Out’ sign for those who, unlike us, aren’t lucky enough to have the right to move freely and safely across borders.

We set sail on a giant ferry whose length dwarfs the dinghies migrants use by nearly a 100 times. Despite the windy rain lashing at the portholes, we arrive safely in Dover; grateful but acutely aware of the miserable conditions the people we’ve left behind are in and of the privilege of choice. 

Batti Gul Meter Chalu

Producers: KRTI Productions, T-Series
Director: Sree Narayan Singh
Cast: Shahid Kapoor, Shraddha Kapoor, Divyenndu Sharma, Yami Gautam
Rating: 2/5

Company profile

Name: Thndr

Started: October 2020

Founders: Ahmad Hammouda and Seif Amr

Based: Cairo, Egypt

Sector: FinTech

Initial investment: pre-seed of $800,000

Funding stage: series A; $20 million

Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC,  Rabacap and MSA Capital

Results

4pm: Al Bastakiya Listed US$300,000 (Dirt) 1,900m; Winner: Emblem Storm, Oisin Murphy (jockey), Satish Seemar (trainer).

4.35pm: Mahab Al Shimaal Group 3 $350,000 (D) 1,200m; Winner: Wafy, Tadhg O’Shea, Satish Seemar.

5.10pm: Nad Al Sheba Turf Group 3 $350,000 (Turf) 1,200m; Winner: Wildman Jack, Fernando Jara, Doug O’Neill.

5.45pm: Burj Nahaar Group 3 $350,000 (D) 1,600m; Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass.

6.20pm: Jebel Hatta Group 1 $400,000 (T) 1,800m; Winner: Barney Roy, William Buick, Charlie Appleby.

6.55pm: Al Maktoum Challenge Round-3 Group 1 $600,000 (D) 2,000m; Winner: Matterhorn, Mickael Barzalona, Salem bin Ghadayer.

7.30pm: Dubai City Of Gold Group 2 $350,000 (T) 2,410m; Winner: Loxley, Mickael Barzalona, Charlie Appleby.

MATCH INFO

Mumbai Indians 186-6 (20 ovs)
Kings XI Punjab 183-5 (20 ovs)

Mumbai Indians won by three runs

Results

1. Mathieu van der Poel (NED) Alpecin-Fenix - 3:45:47

2. David Dekker (NED) Jumbo-Visma - same time

3. Michael Morkov (DEN) Deceuninck-QuickStep   

4. Emils Liepins (LAT) Trek-Segafredo

5. Elia Viviani (ITA) Cofidis

6. Tadej Pogacar (SLO UAE Team Emirates

7. Anthony Roux (FRA) Groupama-FDJ

8. Chris Harper (AUS) Jumbo-Visma - 0:00:03

9. Joao Almeida (POR) Deceuninck-QuickStep         

10. Fausto Masnada (ITA) Deceuninck-QuickStep

UAE%20medallists%20at%20Asian%20Games%202023
%3Cp%3E%3Cstrong%3EGold%3C%2Fstrong%3E%0D%3Cbr%3EMagomedomar%20Magomedomarov%20%E2%80%93%20Judo%20%E2%80%93%20Men%E2%80%99s%20%2B100kg%0D%3Cbr%3EKhaled%20Al%20Shehi%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Men%E2%80%99s%20-62kg%0D%3Cbr%3EFaisal%20Al%20Ketbi%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Men%E2%80%99s%20-85kg%0D%3Cbr%3EAsma%20Al%20Hosani%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Women%E2%80%99s%20-52kg%0D%3Cbr%3EShamma%20Al%20Kalbani%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Women%E2%80%99s%20-63kg%0D%3Cbr%3E%3Cstrong%3ESilver%3C%2Fstrong%3E%0D%3Cbr%3EOmar%20Al%20Marzooqi%20%E2%80%93%20Equestrian%20%E2%80%93%20Individual%20showjumping%0D%3Cbr%3EBishrelt%20Khorloodoi%20%E2%80%93%20Judo%20%E2%80%93%20Women%E2%80%99s%20-52kg%0D%3Cbr%3EKhalid%20Al%20Blooshi%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Men%E2%80%99s%20-62kg%0D%3Cbr%3EMohamed%20Al%20Suwaidi%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Men%E2%80%99s%20-69kg%0D%3Cbr%3EBalqees%20Abdulla%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Women%E2%80%99s%20-48kg%0D%3Cbr%3E%3Cstrong%3EBronze%3C%2Fstrong%3E%0D%3Cbr%3EHawraa%20Alajmi%20%E2%80%93%20Karate%20%E2%80%93%20Women%E2%80%99s%20kumite%20-50kg%0D%3Cbr%3EAhmed%20Al%20Mansoori%20%E2%80%93%20Cycling%20%E2%80%93%20Men%E2%80%99s%20omnium%0D%3Cbr%3EAbdullah%20Al%20Marri%20%E2%80%93%20Equestrian%20%E2%80%93%20Individual%20showjumping%0D%3Cbr%3ETeam%20UAE%20%E2%80%93%20Equestrian%20%E2%80%93%20Team%20showjumping%0D%3Cbr%3EDzhafar%20Kostoev%20%E2%80%93%20Judo%20%E2%80%93%20Men%E2%80%99s%20-100kg%0D%3Cbr%3ENarmandakh%20Bayanmunkh%20%E2%80%93%20Judo%20%E2%80%93%20Men%E2%80%99s%20-66kg%0D%3Cbr%3EGrigorian%20Aram%20%E2%80%93%20Judo%20%E2%80%93%20Men%E2%80%99s%20-90kg%0D%3Cbr%3EMahdi%20Al%20Awlaqi%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Men%E2%80%99s%20-77kg%0D%3Cbr%3ESaeed%20Al%20Kubaisi%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Men%E2%80%99s%20-85kg%0D%3Cbr%3EShamsa%20Al%20Ameri%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Women%E2%80%99s%20-57kg%0D%3C%2Fp%3E%0A
What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

SPECS

Mini John Cooper Works Clubman and Mini John Cooper Works Countryman

Engine: two-litre 4-cylinder turbo

Transmission: nine-speed automatic

Power: 306hp

Torque: 450Nm

Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500

J%20Street%20Polling%20Results
%3Cp%3E97%25%20of%20Jewish-Americans%20are%20concerned%20about%20the%20rise%20in%20anti-Semitism%3Cbr%3E%3Cbr%3E76%25%20of%20US%20Jewish%20voters%20believe%20Donald%20Trump%20and%20his%20allies%20in%20the%20Republican%20Party%20are%20responsible%20for%20a%20rise%20in%20anti-Semitism%3Cbr%3E%3Cbr%3E74%25%20of%20American%20Jews%20agreed%20that%20%E2%80%9CTrump%20and%20the%20Maga%20movement%20are%20a%20threat%20to%20Jews%20in%20America%22%3Cbr%3E%3C%2Fp%3E%0A
Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Defence review at a glance

• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”

• Prioritise a shift towards working with AI and autonomous systems

• Invest in the resilience of military space systems.

• Number of active reserves should be increased by 20%

• More F-35 fighter jets required in the next decade

• New “hybrid Navy” with AUKUS submarines and autonomous vessels

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Six tips to secure your smart home

Most smart home devices are controlled via the owner's smartphone. Therefore, if you are using public wi-fi on your phone, always use a VPN (virtual private network) that offers strong security features and anonymises your internet connection.

Keep your smart home devices’ software up-to-date. Device makers often send regular updates - follow them without fail as they could provide protection from a new security risk.

Use two-factor authentication so that in addition to a password, your identity is authenticated by a second sign-in step like a code sent to your mobile number.

Set up a separate guest network for acquaintances and visitors to ensure the privacy of your IoT devices’ network.

Change the default privacy and security settings of your IoT devices to take extra steps to secure yourself and your home.

Always give your router a unique name, replacing the one generated by the manufacturer, to ensure a hacker cannot ascertain its make or model number.

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

Results

STAGE

1 . Filippo Ganna (Ineos) - 0:13:56

2. Stefan Bissegger (Education-Nippo) - 0:00:14

3. Mikkel Bjerg (UAE Team Emirates) - 0:00:21

4. Tadej Pogacar (UAE Team Emirates) - 0:00:24

5. Luis Leon Sanchez (Astana) - 0:00:30

GENERAL CLASSIFICATION

1. Tadej Pogacar (UAE Team Emirates) - 4:00:05

2. Joao Almeida (QuickStep) - 0:00:05

3. Mattia Cattaneo (QuickStep) - 0:00:18

4. Chris Harper (Jumbo-Visma) - 0:00:33

5. Adam Yates (Ineos) - 0:00:39

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4

Henrik Stenson's finishes at Abu Dhabi HSBC Championship:

2006 - 2
2007 - 8
2008 - 2
2009 - MC
2010 - 21
2011 - 42
2012 - MC
2013 - 23
2014 - MC
2015 - MC
2016 - 3
2017 - 8

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%3Cp%3E%3Cstrong%3ECreated%20by%3A%20%3C%2Fstrong%3EJesse%20Armstrong%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Brian%20Cox%2C%20Jeremy%20Strong%2C%20Kieran%20Culkin%2C%20Sarah%20Snook%2C%20Nicholas%20Braun%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
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%3Cp%3EYears%3A%20October%202015%20-%20June%202024%3Cbr%3ETotal%20games%3A%20491%3Cbr%3EWin%20percentage%3A%2060.9%25%3Cbr%3EMajor%20trophies%3A%206%20(Premier%20League%20x%201%2C%20Champions%20League%20x%201%2C%20FA%20Cup%20x%201%2C%20League%20Cup%20x%202%2C%20Fifa%20Club%20World%20Cup%20x1)%3C%2Fp%3E%0A
What sanctions would be reimposed?

Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:

  • An arms embargo
  • A ban on uranium enrichment and reprocessing
  • A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
  • A targeted global asset freeze and travel ban on Iranian individuals and entities
  • Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods

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.”