More than 20 million people across the UK have received their first dose of Covid-19 vaccine. Reuters
More than 20 million people across the UK have received their first dose of Covid-19 vaccine. Reuters
More than 20 million people across the UK have received their first dose of Covid-19 vaccine. Reuters
More than 20 million people across the UK have received their first dose of Covid-19 vaccine. Reuters

Call to end 'harmful' UK lockdown early after sharp drop in number of deaths


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A leading British scientist called for an early end to the lockdown in England because deaths and case numbers are falling faster than expected.

The decline in the death rate is about three weeks ahead of the projections used by the UK government to help guide the country out of lockdown.

According to the most recent projections from the government's modelling committee on February 10, estimates showed daily Covid-19 deaths in England would not fall below 200 until mid-March, but that milestone was reached on February 25.

UK Prime Minister Boris Johnson said he would be driven by "data and not dates" when easing restrictions.

Prof Mark Woolhouse from the University of Edinburgh, a member of the UK government’s coronavirus modelling group, said Mr Johnson should be looking to unlock the economy faster, based on current evidence.

"The data are indeed looking better than the models were predicting and – to the best of my knowledge – better than anyone was expecting,” Prof Woolhouse said.

“If the phrase ‘data-driven, not date-driven’ has any meaning, it must allow for the schedule for relaxing restrictions to be brought forward if the data is better than expected, not just putting the schedule back if the data is worse than expected.

“If we unlock too far, too quickly, we risk a resurgence. However, given the data, I’d hope that the government is actively considering unlocking just as cautiously but appreciably less slowly.

"Lockdown continues to be just as harmful as ever, so there is a public health imperative to relax measures as soon as it is safe to do so. An overabundance of caution is not a cost-free option."

The UK’s coronavirus modelling could have underestimated the effectiveness of vaccines in reducing the death rate.

According to real-world data from Public Health England, a single shot of either the Oxford-AstraZeneca or the Pfizer-BioNTech vaccines reduces the chance of needing hospital treatment by more than 80 per cent.

More than 20 million people across the UK have received their first dose of vaccine, government statistics show.

Prof Sir David Spiegelhalter from the University of Cambridge said the death rate was halving every week.

"We all sort of hoped something like this might happen, but frankly it is better than anyone expected, I think,” he said.

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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.”

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

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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

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What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

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