The continued success of the vaccine drive is one of the key tests for easing lockdown restrictions in the UK. AFP
The continued success of the vaccine drive is one of the key tests for easing lockdown restrictions in the UK. AFP
The continued success of the vaccine drive is one of the key tests for easing lockdown restrictions in the UK. AFP
The continued success of the vaccine drive is one of the key tests for easing lockdown restrictions in the UK. AFP

UK could introduce vaccine passport to speed up reopening


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Britain will consider whether vaccine certificates are needed to reopen parts of the economy, Prime Minister Boris Johnson said on Monday.

Mr Johnson said a review committee would report back on June 21 as to whether “Covid status certification” could help to reopen venues closed by coronavirus restrictions.

This would involve allowing people who have received a vaccine or returned a negative test to do things that would not be possible for those who could not prove their status.

The review was among others including a study on how long social distancing and face masks would be needed, an investigation into international travel, and the safe return of major events.

Vaccine certificates or passports for use domestically have been resisted by government ministers who have fears of discrimination and a possible increase in people hesitant to take the vaccine.

The Covid-19 vaccine is provided for free in the UK but it is not mandatory to take it.

The government is in talks with other countries including Greece on whether to set up a system of vaccine passports to allow international travel to resume.

Announcing his plan for easing lockdown, Mr Johnson said international travel would be banned until May 17 at the earliest, prolonging the pain for airlines, airports and holiday companies.

The review of travel will provide recommendations on how international travel should resume, while managing the risks of new variants of coronavirus. It will report on April 12.

The government’s roadmap for easing lockdown depends on four key conditions being met at each stage.

The tests include:

Vaccine distribution

The country’s Covid-19 vaccination campaign, a success so far, must continue to progress.

Mr Johnson said on Sunday that all adults in the UK aged over 50 would be offered a vaccine by April 15 and all adults by the end of July.

More than 17 million people in Britain are inoculated, with more than 1,500 vaccine sites in operation.

Vaccine efficacy

Evidence must show that vaccines are effective in reducing hospital admissions and deaths.

The recent decline of both appears to be accelerating in older people, but there is uncertainty over whether this is mainly due to the effects of lockdown or vaccination.

However, Vaccine Minister Nadhim Zahawi said the inoculation campaign was “starting to bear fruit” in terms of hospital admissions and deaths.

"Public Health England have been running a couple of large-scale studies," Mr Zahawi told Sky News.

He spoke of the Siren study, which tested frontline healthcare staff who were given priority early in the vaccination campaign, and Vivaldi, which focused on care home residents who were also among those inoculated first.

“Suffice to say the evidence looks good," Mr Zahawi said.

The prime minister is expected to give more details today.

Prof Neil Ferguson, a key scientific adviser to the government, suggested last week that vaccines had led to a two-thirds reduction in virus transmission.

Prime Minister Boris Johnson visits a Covid-19 vaccination centre in Wales. Reuters
Prime Minister Boris Johnson visits a Covid-19 vaccination centre in Wales. Reuters

“There are two factors we have to look at: one is how quickly our infection levels are declining, in particular how quickly hospital admissions and deaths are declining," Prof Ferguson said.

"The second is the picture of the real world effectiveness of vaccines. They are both looking promising at the moment.”

Prof Adam Finn from the University of Bristol said: “Everything is moving in the right direction”.

“We’ve got to the point in our study in Bristol to say vaccines are definitely having an effect – it’s just hard to put an exact number on it at the moment,” Prof Finn said.

Infection rates

Coronavirus infection rates must be suppressed to prevent hospitals from being overwhelmed by new admissions.

In January, the UK moved to its highest Covid alert of level five, which warned that the health service was in danger of being overwhelmed within 21 days.

The situation has since improved but the number of Covid-19 patients in hospital remains higher than during the peak of the first wave last spring.

Data from February 14 revealed the average daily number of people admitted to hospital with coronavirus was 1,500. That number was 4,134 at the peak of the third wave on January 12.

NHS England chief executive Sir Simon Stevens said that there were "early signs" that the vaccine campaign was contributing to the fall in Covid-19 hospital admissions.

New variants

Government guidance suggests that re-emerging from lockdown is feasible only when scientists decide that new variants are not a threat to vaccine efficacy.

Last year, the Kent variant caused a surge in the infection rate, throwing government plans for families to reunite over Christmas into disarray.

Evidence suggests that vaccines continue to offer protection against the UK strain, but there is uncertainty over the South African variant and the strain first identified in Brazil.

Health Secretary Matt Hancock said the UK must be wary of new strains.

"We've got to be vigilant because if one of these new variants doesn't respond to the vaccine, as well as the variant that is now the standard variant in the UK – the Kent variant – then that's obviously a very serious risk for the vaccination programme,” Mr Hancock said.

"We're doing a lot of work to find out the impact of the vaccine on these new variants, especially the ones discovered in Brazil and South Africa, because clearly knowing the answer to that question is critical to understanding how much of a risk the new variants pose."

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Countries offering golden visas

UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.

Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.

Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.

Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.

Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence. 

Secret Nation: The Hidden Armenians of Turkey
Avedis Hadjian, (IB Tauris)
 

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.”

How has net migration to UK changed?

The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.

It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.

The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.

The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
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Crops that could be introduced to the UAE

1: Quinoa 

2. Bathua 

3. Amaranth 

4. Pearl and finger millet 

5. Sorghum