ABU DHABI // Umrah pilgrims are being urged to take extra precautions after a spate of Mers cases in Saudi Arabia.
Health authorities recommended that those travelling to Saudi Arabia should consult their physician two weeks beforehand to check their health and pick up advice on how to avoid infection.
There have been 34 cases of Mers in Saudi Arabia since May 15, although many of those cases were confined to one hospital in Riyadh.
Dr Sawsan Al Nahas, specialist registrar for Dubai Health Authority, said big gatherings such as Umrah and Haj increase the chances of diseases being spread.
“Since there isn’t a vaccine for Mers, precautions are very important. To spread, Mers needs very close contact [between the carrier and victim],” said Dr Al Nahas.
She recommended regularly washing hands, using chemical sanitisers, and wearing a mask during rituals in crowded areas. She also said pilgrims should avoid sitting near people who were sick and never to share prayer mats.
“The immunity levels of people who have infectious diseases or chronic diseases are low and they can have complications,” she said.
In past years, there have been outbreaks of meningitis, meaning vaccines for this disease are compulsory before travel. Influenza also spreads through coughing and a vaccine is recommended.
Diabetics, pregnant women and those who have chronic diseases are most likely to suffer complications, Dr Al Nahas said.
Dr Fatma Al Attar, head of international health regulation at the Ministry of Health and Prevention, said many people required health treatments after falling ill during pilgrimage.
She said: “Upper respiratory tract infections, heat exhaustion, injuries, gastroenteritis and pneumonia are the most common health problems affecting pilgrims.”
She was less concerned about the threat from the Zika virus.
“Zika isn’t a threat for pilgrims because the mosquito that spreads it is not in the UAE or Saudi Arabia,” she said. Although she added that the possible spread of the disease would be monitored among pilgrims.
“There have been no cases of Mers from Haj and Umrah, but we have to take precautions. Personal hygiene is very important,” Dr Al Attar said.
“Because of the awareness campaigns, most people know and they consult family physicians. Advice needs to be tailored and people who have chronic diseases need to ensure they have their medication with them,” she said.
In case someone falls sick during Umrah, they should seek help from doctors in Saudi Arabia. A list of names of doctors will be provided to travellers
Because of the hot weather, pilgrims were also advised to take precautions to avoid heat stroke or dehydration.
“Pilgrims should avoid direct sunlight for a long time and use an umbrella whenever possible,” Dr Al Attar said. “They need to remember to drink plenty of water. It’s better if they do hectic activities after sunset because it’s very hot in the day.”
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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.”
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