A Syrian refugee couple who have become minor celebrities in Lisbon for offering free food to the city’s frontline medical workers have said they are hopeful as Portuguese officials announce an easing of lockdown restrictions.
Alan Ghumim and his wife Ramia Abdalghani, both 36, began offering free food to healthcare workers when lockdown measures to prevent the spread of the novel coronavirus were introduced in Portugal in mid-March.
Mr Ghumim told The National that it had been dispiriting to see the vibrant city where he and his wife have made their home go into lockdown.
“I feel very sorry. Normally Lisbon is full of life,” the restaurateur explained. “Normally, people sit in the cafes. But now everything is empty.”
However, despite the challenges presented by the coronavirus and with the Portuguese government poised to relax its coronavirus measures, the Syrian refugee in Lisbon says there is still hope for the future.
“It is a pity when you see things like this but there is hope we will come back,” Mr Ghumim said.
Portugal’s national response to the coronavirus has been heralded as a relative success story as Europe grapples with the disease. Despite the country’s ageing population, it has coped far better with the Covid-19 outbreak than, for example, its neighbour Spain.
Portugal has announced 714 deaths and 20,206 Covid-19 cases since the beginning of the outbreak while Spain has recorded 21,852 deaths and over 200,000 cases.
The government’s close monitoring of the situation has meant it is now considering easing the lockdown at the start of May.
Prime Minister Antonio Costa said he hopes to relax restrictions on schools, shops, restaurants and cultural spaces from May onwards but such a plan would require new rules to keep people safe.
Until May 2 most non-essential businesses will remain shut, and restrictions on movement and gatherings will remain in place.
Mr Costa said the plan, which is likely to be announced on April 30, could limit the number of people visiting beaches across the country which are usually crowded during summer.
Mr Ghumim explained that he and his wife had learnt from their own experiences, first when the war came to their families’ homes in Damascus and then as they fled to Portugal via Morocco, that it was important to help in times of crisis.
“First we came to this country as refugees and everybody welcomed us,” Mr Ghumim explained. We wanted to return the help so we helped. These things work in a domino effect. If you help someone then someone will help you. We need to support each other in this difficult time.”
The pair started their restaurant in February of last year after a catering business Ms Abdalghani started took off. From its inception their restaurant Tayybeh looked to benefit the community, employing local Syrian women, who were struggling to find work, in their kitchens.
They began offering free meals to health workers at the beginning of the lockdown through Facebook and word quickly spread.
“We made one post and we got the calls. Then it just passed on through word of mouth. A nurse tells a doctor, one hospital tells another hospital. So we became famous in Lisbon,” Mr Ghumim said.
Now the restaurant is giving out 75 free meals a day to health workers and receives calls for help from outside Lisbon. Their menu changes every week depending on what ingredients are available. Two meat and two vegan dishes are consistently on offer as well as creamy hummus and other Middle Eastern appetisers.
The restaurant is busiest in the evening when health workers are either returning from their shifts to their families or taking food to their colleagues in the hospitals.
“We have many messages [of thanks]. I always spend the afternoon replying to the messages from people saying thank you and saying the food is great. This gives us more energy also,” Mr Ghumim said.
Despite the attention the restaurant has received for its work the owner said the highest accolades should be reserved for Portugal’s health workers.
“They are heroes,” he said. “This is a very simple way of describing what they are doing. I cannot say more because they do so much,” he added.
Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
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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Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
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