Covid-19 vaccination programmes in eastern Europe are being hampered by church leaders condemning the inoculations as anti-religious, it has been reported.
Prominent church figures in Romania, Greece and Poland have called on people to refuse the Pfizer/BioNTech and Moderna drugs, which they incorrectly claim are developed from aborted foetal cells.
The unfounded allegations have been made by the so-called "anti-vax" movement, although it is not yet known how many people have rejected the vaccine as a result.
At a time when most Europeans are desperate to get vaccinated to protect them from the lethal virus, a Romanian Orthodox Church leader called on his followers to ignore it.
"The thing that cures the most is praying, much more than any vaccine," Teodosie Petrescu, the Archbishop of Tomis said.
The cleric, who has defied government edicts on religious meetings, said: "I don't dare encourage anyone to get the vaccine… This is the only vaccine that has not been tested on animals and is being tested directly on humans; accidents have already happened."
There is currently no evidence of Covid vaccine "accidents".
The anti-vaxxers have attracted some religious figures to their cause by claiming – incorrectly – that scientists used foetal cell lines from abortions. Pfizer/BioNTech and Moderna’s vaccines are made from synthetic pharmaceutical products.
However, the false allegations have led a Romanian Orthodox sect to issue a statement against the inoculations. “We imperatively refuse this vaccine for religious reasons, but also because it has not been thoroughly scientifically tested,” it said.
The Romanians were joined by some in the Greek Orthodox Church, with the Bishop of Kythira allegedly calling on Christians to avoid the vaccines created by “the product of abortions”.
In the Catholic Church, a number of priests have raised objections to the vaccine on moral grounds, with Poland’s Ordo Iuris Institute, a religious legal foundation, telling people not to forget "important ethical questions”.
However, when both Pope Francis and retired pope Benedict publicly received the vaccine last week, objections among Catholics became muted.
Similarly, some senior religious figures in Greece and Bulgaria have encouraged people to take the vaccines, debunking the allegations around them.
Elsewhere in the Balkans, Serbia is attempting to inoculate its population at pace, using the Chinese Sinopharm vaccine. The country has received the first batch of one million doses.
In central Europe, Hungary is expecting a similar number of doses of the Sinopharm vaccine.
Meanwhile, the European Union said that it would inoculate 70 per cent of its adult population against coronavirus by June.
The announcement came as the bloc struggles with vaccination supply shortages and trails far behind Britain, the UAE, the United States and Israel in its vaccination programme.
EU health commissioner Stella Kyriakides said that the bloc's joint-buying strategy meant there were already enough doses to vaccinate 80 per cent of the EU's population of 450 million, although she admitted “vaccinations need to speed up”.
Ms Kyriakides said the current bottleneck of vaccines was due to "the worldwide shortage of production capacity", rather than a shortage of shots ordered by the EU.
She added that the EU was in “active discussion” with European governments about the possibility of "vaccination certificates" that would be recognised across member states.
Greece, whose economy relies on tourism, has already called for the use of such certificates.
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.”
Fixtures
Friday Leganes v Alaves, 10.15pm; Valencia v Las Palmas, 12.15am
Saturday Celta Vigo v Real Sociedad, 8.15pm; Girona v Atletico Madrid, 10.15pm; Sevilla v Espanyol, 12.15am
Sunday Athletic Bilbao v Getafe, 8.15am; Barcelona v Real Betis, 10.15pm; Deportivo v Real Madrid, 12.15am
Monday Levante v Villarreal, 10.15pm; Malaga v Eibar, midnight
Charlotte Gainsbourg
Rest
(Because Music)
JOKE'S%20ON%20YOU
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Company%20profile
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Stree
Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5