Prime Minister Boris Johnson holding a digital Covid-19 press conference in London. EPA/ANDREW PARSONS
Prime Minister Boris Johnson holding a digital Covid-19 press conference in London. EPA/ANDREW PARSONS
Prime Minister Boris Johnson holding a digital Covid-19 press conference in London. EPA/ANDREW PARSONS
Prime Minister Boris Johnson holding a digital Covid-19 press conference in London. EPA/ANDREW PARSONS

Coronavirus: UK ‘squeezes brakes’ on easing lockdown orders


Simon Rushton
  • English
  • Arabic

British Prime Minister Boris Johnson is postponing some planned measures to ease the UK's lockdown because coronavirus cases are on the rise for the first time since May.

The government is scrapping plans to allow venues, such as casinos, bowling alleys and skating rinks, to reopen in England, and a plan to allow a limited number of fans into weekend sports events is on hold. 
Mr Johnson announced on Friday a two-week delay for measures that were scheduled to be allowed from August 1.

With virus "numbers creeping up", he said the government had decided to "squeeze that brake pedal" on reopening the economy.

Indoor performances and an easing of rules to allow wedding parties of up to 30 people are also being pushed back by two weeks.

Beauty salons will also not be allowed to start offering treatments that involve working on a customer's face.

Mr Johnson said a rule requiring face coverings worn in shops and on public transport will be extended to museums, galleries, cinemas and places of worship.

The guidance for employers is also changing to give firms "more discretion over how employees can work safely, whether by continuing to work from home, or attending a Covid-secure workplace", Mr Johnson said.

He added he would come down hard on employers who did not make workplaces Covid-secure.

"If employers don't keep their workplaces Covid-secure then that's a matter that can be enforced in law, " Mr Johnson said.

"We will come down hard on people who are not doing the right thing."

Late on Thursday, the government announced stricter lockdown measures for Greater Manchester, Lancashire and West Yorkshire, which caused confusion among Muslims planning for Eid Al Adha.

Hammad Khan, the president of Manchester Central Mosque, said there had been chaos among worshippers who were struggling to understand the impact of the new rules.

He said that before the new measures were tweeted out late on Thursday, his team had been working for two weeks to arrange Eid prayers with the necessary social distancing.

There was also anger after Craig Whittaker, a local area MP with Mr Johnson's Conservative Party, told a radio talk-show that a lack of understanding of the seriousness of the virus by Muslim and ethnic members in his constituency were to blame.

Semi-final fixtures

Portugal v Chile, 7pm, today

Germany v Mexico, 7pm, tomorrow

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2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
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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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7pm – Step On DJs

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10pm – Fatboy Slim

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THE BIO

Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13 

Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier

Favourite place to travel to: Any walkable city. I also love nature and wildlife 

What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents. 

Favorite place to go in the UAE: A quiet beach.

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Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

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Race card for Super Saturday

4pm: Al Bastakiya Listed US$250,000 (Dh918,125) (Dirt) 1,900m.

4.35pm: Mahab Al Shimaal Group 3 $200,000 (D) 1,200m.

5.10pm: Nad Al Sheba Conditions $200,000 (Turf) 1,200m.

5.45pm: Burj Nahaar Group 3 $200,000 (D) 1,600m.

6.20pm: Jebel Hatta Group 1 $300,000 (T) 1,800m.

6.55pm: Al Maktoum Challenge Round 3 Group 1 $400,000 (D) 2,000m.

7.30pm: Dubai City of Gold Group 2 $250,000 (T) 2,410m.