• A man walks along the National Covid Memorial Wall in London. A report has said mistakes, delays and failures in the UK's Covid-19 response cost lives. Getty Images
    A man walks along the National Covid Memorial Wall in London. A report has said mistakes, delays and failures in the UK's Covid-19 response cost lives. Getty Images
  • An almost empty Westminster Bridge stands backdropped by the early morning sun on March 24, 2020, the first day of Britain's first lockdown. AP Photo
    An almost empty Westminster Bridge stands backdropped by the early morning sun on March 24, 2020, the first day of Britain's first lockdown. AP Photo
  • A woman is told to go home by a police officer on Primrose Hill in London in April 2020. The government's guidance at the time was to only use parks for dog walking, one form of exercise a day alone or with members of the same household. AP Photo
    A woman is told to go home by a police officer on Primrose Hill in London in April 2020. The government's guidance at the time was to only use parks for dog walking, one form of exercise a day alone or with members of the same household. AP Photo
  • An image of Britain's Queen Elizabeth II and quotes from her historic television broadcast commenting on the coronavirus pandemic are displayed on a big screen at Piccadilly Circus in London in April 2020. AP Photo
    An image of Britain's Queen Elizabeth II and quotes from her historic television broadcast commenting on the coronavirus pandemic are displayed on a big screen at Piccadilly Circus in London in April 2020. AP Photo
  • NHS staff applaud outside the Chelsea and Westminster Hospital in London during the weekly "Clap for our Carers" in April 2020. The applause took place across Britain every Thursday at 8pm to show appreciation for healthcare workers, emergency services, and all those helping people with coronavirus and keeping the country functioning while most people stayed at home in the lockdown. AP Photo
    NHS staff applaud outside the Chelsea and Westminster Hospital in London during the weekly "Clap for our Carers" in April 2020. The applause took place across Britain every Thursday at 8pm to show appreciation for healthcare workers, emergency services, and all those helping people with coronavirus and keeping the country functioning while most people stayed at home in the lockdown. AP Photo
  • A packed Brighton beach on Britain's hottest day of the year on June 24 2020. AP Photo
    A packed Brighton beach on Britain's hottest day of the year on June 24 2020. AP Photo
  • People take part in a 'We Do Not Consent' rally at Trafalgar Square to protest against coronavirus restrictions in September 2020. AP Photo
    People take part in a 'We Do Not Consent' rally at Trafalgar Square to protest against coronavirus restrictions in September 2020. AP Photo
  • Year seven pupils in class during their first day at Kingsdale Foundation School in London in September 2020. Schools in England had started to reopen with special measures in place to deal with Coronavirus. AP Photo
    Year seven pupils in class during their first day at Kingsdale Foundation School in London in September 2020. Schools in England had started to reopen with special measures in place to deal with Coronavirus. AP Photo
  • Crowds of shoppers walk under the Christmas lights in Regent Street, in London iun December 2020. AP Photo
    Crowds of shoppers walk under the Christmas lights in Regent Street, in London iun December 2020. AP Photo
  • Critical Care staff prone a Covid-19 patient on the Christine Brown ward at King's College Hospital in London in January 2021. AP Photo
    Critical Care staff prone a Covid-19 patient on the Christine Brown ward at King's College Hospital in London in January 2021. AP Photo
  • Britain's Prime Minister Boris Johnson gestures after receiving the first dose of the AstraZeneca vaccine at St.Thomas' Hospital in London in March this year. AP Photo
    Britain's Prime Minister Boris Johnson gestures after receiving the first dose of the AstraZeneca vaccine at St.Thomas' Hospital in London in March this year. AP Photo

'Covid decade' threatens to hold back UK and exacerbate inequality


Simon Rushton
  • English
  • Arabic

Society will feel the effects of the coronavirus pandemic for a decade, academics warned on the anniversary of the UK's first lockdown.

They say there needs to be an urgent overhaul of British policies to tackle growing problems in health care, education and social development.

More than 200 academics and policy specialists helped to compile the British Academy's warning, and recommendations for avoiding the worst of their predictions, in a report called The Covid Decade: Understanding the Long-term Societal Impacts of Covid-19.

The report was published on Tuesday.

“There are multiple forms of inequality that create personal and societal obstacles to progress,” said lead author Dominic Abrams, professor of social psychology at the University of Kent.

“Finding ways to create greater inclusiveness, tackle underlying mechanisms of inequality and create the resourcefulness to share a better future will be our biggest challenge during this Covid decade.”

Academics have warned that society will feel the effects of the coronavirus pandemic for a decade. EPA
Academics have warned that society will feel the effects of the coronavirus pandemic for a decade. EPA

The report says there are widening geographic inequalities in areas including health, local economies and poverty.

Access to education could be lost and the effects could be worse in areas where there is already socio-economic inequality.

The report says low levels of trust in the national government and severe strain on local community infrastructure threaten to slow any return to normality.

“The Covid decade will also be profoundly shaped by policy decisions and this offers us many opportunities,” Prof Abrams said.

“Government will need to establish a longer-term vision to tackle the impacts of Covid-19.

"This will involve working in partnership with places and people to address structural problems systematically, not just in a piecemeal way.”

The report said tackling tension between local and national leaders will be key to any strategy to help vulnerable people.

Eliminating the divide by treating digital infrastructure as a critical, life-changing public service was among the recommendations.

The report said commercial, educational and social institutions should all act together.

"We are at the beginning of a Covid decade,” British Academy chief executive Hetan Shah said.

“It will require investing in civil society and our social infrastructure to strengthen our local communities, especially in our most deprived areas.

“Science has given us the vaccine to respond to the health crisis, but we will need social science and the humanities to meet the social, cultural and economic crises we face in the Covid decade.”

FIXTURES

Fixtures for Round 15 (all times UAE)

Friday
Inter Milan v AS Roma (11.45pm)
Saturday
Atalanta v Verona (6pm)
Udinese v Napoli (9pm)
Lazio v Juventus (11.45pm)
Sunday
Lecce v Genoa (3.30pm)
Sassuolo v Cagliari (6pm)
SPAL v Brescia (6pm)
Torino v Fiorentina (6pm)
Sampdoria v Parma (9pm)
Bologna v AC Milan (11.45pm)

Gender pay parity on track in the UAE

The UAE has a good record on gender pay parity, according to Mercer's Total Remuneration Study.

"In some of the lower levels of jobs women tend to be paid more than men, primarily because men are employed in blue collar jobs and women tend to be employed in white collar jobs which pay better," said Ted Raffoul, career products leader, Mena at Mercer. "I am yet to see a company in the UAE – particularly when you are looking at a blue chip multinationals or some of the bigger local companies – that actively discriminates when it comes to gender on pay."

Mr Raffoul said most gender issues are actually due to the cultural class, as the population is dominated by Asian and Arab cultures where men are generally expected to work and earn whereas women are meant to start a family.

"For that reason, we see a different gender gap. There are less women in senior roles because women tend to focus less on this but that’s not due to any companies having a policy penalising women for any reasons – it’s a cultural thing," he said.

As a result, Mr Raffoul said many companies in the UAE are coming up with benefit package programmes to help working mothers and the career development of women in general. 

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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EYango%20Deli%20Tech%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EUAE%0D%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3E2022%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3ERetail%20SaaS%0D%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3ESelf%20funded%0D%3Cbr%3E%3C%2Fp%3E%0A
From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

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.”

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

INFO

What: DP World Tour Championship
When: November 21-24
Where: Jumeirah Golf Estates, Dubai
Tickets: www.ticketmaster.ae.

The years Ramadan fell in May

1987

1954

1921

1888

Match info:

Burnley 0

Manchester United 2
Lukaku (22', 44')

Red card: Marcus Rashford (Man United)

Man of the match: Romelu Lukaku (Manchester United)

PREMIER LEAGUE FIXTURES

Tuesday (UAE kick-off times)

Leicester City v Brighton (9pm)

Tottenham Hotspur v West Ham United (11.15pm)

Wednesday

Manchester United v Sheffield United (9pm)

Newcastle United v Aston Villa (9pm)

Norwich City v Everton (9pm)

Wolves v Bournemouth (9pm)

Liverpool v Crystal Palace (11.15pm)

Thursday

Burnley v Watford (9pm)

Southampton v Arsenal (9pm)

Chelsea v Manchester City (11.15pm)

Normal People

Sally Rooney, Faber & Faber
 

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