LONDON //Britain appears to be heading towards its first full-blown influenza epidemic - including the deadly swine flu strain - in more than a decade.
With the number of cases requiring intensive care treatment in hospital more than doubling last week to 460, the levels of influenza are now rising more sharply than they did in 1999, when an epidemic produced a crisis over beds for the National Health Service.
Other European countries have reported a surge in cases over the Christmas holidays, prompting a warning from the European Centre for Disease Prevention and Control that countries anywhere in the northern hemisphere could expect a rise in flu infection.
A resurgent H1N1 swine flu virus has killed 56 and infected 1,172 people in Egypt since October 8, a Ministry of Health official said yesterday. In Sri Lanka, acurrent outbreak of swine flu has infected more than 300 people and 22 have died in the past two months, the island nation's health ministry said yesterday.
Syria has reported three deaths so far this month, according to a health ministry official. Those who died were hospitalised in December seriously ill with the disease, Hala al Khayer, the director of communicable diseases at the Syrian ministry of health told AFP, adding a fourth person was cured.
But Britain remains one of the worst affected, with the flu rate in England and Wales having tripled last week to 87.1 cases per 100,000 people in a population of 53 million.
A total of 27 Britons have died this month, 24 of them from the swine flu strain. Nine of them were children.
"The numbers now are worse than they were in winter of 1999 and the curve is steeper. When you look at the graph, the line for this year, it is incredibly unsettling - it looks like scaling Everest," said Prof John Oxford, a virologist and influenza expert at the London Hospital.
"If that trend continues I would not be surprised if we get to epidemic levels within one week."
The situation prompted Prof Dame Sally Davies, the UK government's chief medical officer, to change the advice to doctors on prescribing Tamiflu, the main anti-viral drug used to fight swine flu.
Instead of restricting the drug to high-risk groups, such as the elderly and infirm, she said that doctors should prescribe it to anyone who might benefit.
However, the surge in demand has led to pharmacists complaining that they cannot get sufficient supplies fast enough from wholesalers.
Another problem is being caused by the sudden increase in the number of flu patients requiring intensive care beds, which has led to other, major operations being cancelled.
Dr Bob Winter, the president of the Intensive Care Society, told yesterday's Daily Mail that to preserve space in intensive care, hospitals have begun postponing elective surgical procedures and serious cancer surgery.
"My own hospital [Nottingham University Hospital] has cancelled elective surgery that involves the need of critical care beds," he said. "This includes oesophagectomies and non-urgent cardiac surgery. Other areas in the country, I know, are doing the same."
The government has been criticised for cancelling its annual advertising campaign this winter, urging vulnerable people to have a flu vaccination.
But Andrew Lansley, the health secretary, has defended the government's decision, saying it was much more effective for local doctors' surgeries to contact vulnerable patients and call them in for a jab.
"There is no additional merit in a vaccination advertising campaign for the general population when there is already a targeted approach for those who need to be called," he said.
The H1N1 swine flu was first identified in Mexico in April 2009 and was quickly declared a world pandemic, causing more than 17,800 deaths in more than 200 countries, according too the World Health Organisation.
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How to register as a donor
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Tell-tale signs of burnout
- loss of confidence and appetite
- irritability and emotional outbursts
- sadness
- persistent physical ailments such as headaches, frequent infections and fatigue
- substance abuse, such as smoking or drinking more
- impaired judgement
- excessive and continuous worrying
- irregular sleep patterns
Tips to help overcome burnout
Acknowledge how you are feeling by listening to your warning signs. Set boundaries and learn to say ‘no’
Do activities that you want to do as well as things you have to do
Undertake at least 30 minutes of exercise per day. It releases an abundance of feel-good hormones
Find your form of relaxation and make time for it each day e.g. soothing music, reading or mindful meditation
Sleep and wake at the same time every day, even if your sleep pattern was disrupted. Without enough sleep condition such as stress, anxiety and depression can thrive.
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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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