The uptake of the Covid-19 vaccine in the UK has exceeded expectations with more than 90 per cent of eligible adults choosing to take it, Health Secretary Matt Hancock said on Thursday.
The British government had assumed that only 75 per cent of adults would accept the vaccine when offered.
More than 13 million people have received their first dose of the vaccine, with about 520,000 people receiving a second dose, according to government data.
The UK approved three coronavirus vaccines, manufactured by Pfizer/BioNTech, AstraZeneca/Oxford University and Moderna.
Only the Pifzer and AstraZeneca shots are being distributed, with the Moderna vaccine expected to to arrive in the spring.
Mr Hancock said uptake was highest among patients aged 75 to 79, with 96 per cent accepting an invitation to be vaccinated.
"We do know that the uptake is far higher than expected, far higher than even my top expectations," he told BBC Radio 4's Today programme.
The UK has administered 20 vaccine doses per 100,000 people, while the UAE has given 47 doses per 100,000, according to Oxford University data.
UK ministers are “very concerned” about low uptake of the vaccine among minority groups.
Sir Jeremy Farrar, director of the Wellcome Trust research fund, said that uptake of vaccines needed to stay high to protect against future variants of the pathogen.
“The risk is that they evade and escape the treatments and vaccines we have available today,” he said.
“If we drive down transmission and vaccinate as many people as we can in this country, and critically around the world, we will reduce the number of viruses we have in the world and the number of variants that can trouble us in the future will be much less.”
The warning came as UK ministers faced pressure to end lockdowns in time for summer holidays.
In Germany, Chancellor Angela Merkel said on Thursday restrictions that were extended until March 7 will not be maintained a day longer than necessary.
She said she understood people's loneliness and frustration at having their freedoms curtailed, but that restrictions were still needed because of the risk posed by new virus variants.
With the emergence of new variants, the World Health Organisation said the focus needed to be on reducing the transmission of the virus to slow the effect of current and future mutations.
“Is it a given that one variant will outcompete the others? Maybe, over time,” said Dr Catherine Smallwood of WHO Europe.
“We don’t know which of the variants that are currently spreading in the European region and in the wider world will be more competitive, but our strategy needs to be blind to the variants themselves and focus on suppressing the virus and all those variants.”
UK Prime Minister Boris Johnson is expected to announce his road map out of lockdown on February 22.
“There is uncertainty and we cannot make categorical assurances, but we’re doing everything we can to get things back to normal,” Mr Hancock said.
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.”
Results
4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m; Winner: MM Al Balqaa, Bernardo Pinheiro (jockey), Qaiss Aboud (trainer)
5pm: Jabel Faya – Maiden (PA) Dh60,000 (T) 1,000m; Winner: AF Rasam, Tadhg O’Shea, Ernst Oertel
5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel
6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m; Winner: Mujeeb, Richard Mullen, Salem Al Ketbi
6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m; Winner: Jawal Al Reef, Antonio Fresu, Abubakar Daud
7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m; Winner: Ashton Tourettes, Pat Dobbs, Ibrahim Aseel
7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m; Winner: Nibraas, Richard Mullen, Nicholas Bachalard
SPECS
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The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Awar Qalb
Director: Jamal Salem
Starring: Abdulla Zaid, Joma Ali, Neven Madi and Khadija Sleiman
Two stars
Best Foreign Language Film nominees
Capernaum (Lebanon)
Cold War (Poland)
Never Look Away (Germany)
Roma (Mexico)
Shoplifters (Japan)