A couple watches a helicopter dropping water on a wildfire near Monchique, in Algarve, Portugal. AFP.
A couple watches a helicopter dropping water on a wildfire near Monchique, in Algarve, Portugal. AFP.
A couple watches a helicopter dropping water on a wildfire near Monchique, in Algarve, Portugal. AFP.
A couple watches a helicopter dropping water on a wildfire near Monchique, in Algarve, Portugal. AFP.

Weather-related disasters have increased fivefold over past 50 years


Neil Murphy
  • English
  • Arabic

Weather-related disasters have increased fivefold over the past 50 years and are being fuelled by climate change, a report says.

From 1970 to 2019, there were 11,000 reported disasters related to extreme weather events, says the World Meteorological Organisation's report, Atlas of Mortality and Economic Losses from Weather, Climate and Water Extremes (1970-2019).

The UN agency in Geneva says these disasters have resulted in more than 2 million deaths and $3.64 trillion in losses for the global economy.

The WMO says the report is the most comprehensive review of mortality and economic loss from weather and climate extremes to date.

In all, weather, climate and water hazards accounted for 50 per cent of all disasters, 45 per cent of all reported deaths and 74 per cent of all reported economic losses.

Of the top 10 disasters, droughts were responsible for 650,000 deaths, while storms (577,232 deaths), floods (58,700 deaths) and extreme temperature (55,736 deaths) accounted for the rest.

More than 90 per cent of these deaths occurred in developing countries.

However, improved early warnings and disaster management has helped the number of deaths to decline threefold in the same period, the report says.

“The number of weather, climate and water extremes are increasing and will become more frequent and severe in many parts of the world as a result of climate change,” says WMO Secretary General Prof Petteri Taalas.

“That means more heatwaves, drought and forest fires such as those we have observed recently in Europe and North America.

"We have more water vapour in the atmosphere, which is exacerbating extreme rainfall and deadly flooding.

"The warming of the oceans has affected the frequency and area of existence of the most intense tropical storms.

“Economic losses are mounting as exposure increases. But behind the stark statistics lies a message of hope.

"Improved multi-hazard early warning systems have led to a significant reduction in mortality. Quite simply, we are better than ever before at saving lives."

The Ethiopian drought of 1983 and the Storm Bola, which hit Bangladesh in 1970, were considered the worst disasters in terms of death toll after they claimed the lives of 300,000 people.

The worst disasters in terms of economic cost was Hurricane Katrina, which resulted in losses totalling $163 billion.

The report also claims that 62 of the 77 weather events reported in the years of 2015 to 2017 showed a significant human influence.

"Climate change has increased extreme sea-level events associated with some tropical cyclones, which have increased the intensity of other extreme events such as flooding and associated impacts," the report says.

"This has increased the vulnerability of low-lying megacities, deltas, coasts and islands in many parts of the world."

The report recommends that early warning systems be put in place in areas with the least amount of coverage, including Africa, the Caribbean and South-East Asia.

It also recommends the strengthening of disaster reporting and related statistics to ensure hazard impact data is reported accurately and consistently.


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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Gulf Under 19s final

Dubai College A 50-12 Dubai College B

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Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

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While you're here
Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

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

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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)

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

Juliot Vinolia’s checklist for adopting alternate-day fasting

-      Don’t do it more than once in three days

-      Don’t go under 700 calories on fasting days

-      Ensure there is sufficient water intake, as the body can go in dehydration mode

-      Ensure there is enough roughage (fibre) in the food on fasting days as well

-      Do not binge on processed or fatty foods on non-fasting days

-      Complement fasting with plant-based foods, fruits, vegetables, seafood. Cut out processed meats and processed carbohydrates

-      Manage your sleep

-      People with existing gastric or mental health issues should avoid fasting

-      Do not fast for prolonged periods without supervision by a qualified expert

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.

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Updated: September 01, 2021, 7:30 AM