A doctor checks a patient at the Imbaba Fevers Hospital in Cairo, Egypt, on April 28 2020. Countries around the world are taking increased measures to stem the spread of the deadly coronavirus. EPA
A doctor checks a patient at the Imbaba Fevers Hospital in Cairo, Egypt, on April 28 2020. Countries around the world are taking increased measures to stem the spread of the deadly coronavirus. EPA
A doctor checks a patient at the Imbaba Fevers Hospital in Cairo, Egypt, on April 28 2020. Countries around the world are taking increased measures to stem the spread of the deadly coronavirus. EPA
A doctor checks a patient at the Imbaba Fevers Hospital in Cairo, Egypt, on April 28 2020. Countries around the world are taking increased measures to stem the spread of the deadly coronavirus. EPA

Coronavirus: Egypt reports 388 more infections in past 24 hours for new high


Hamza Hendawi
  • English
  • Arabic

Authorities in Egypt on Tuesday said that a record one-day high of 388 cases of coronavirus infections were diagnosed in the previous 24 hours.

The record, 30 more than on Friday, is likely to raise questions whether tougher action is needed from the government to stop the pandemic spiralling out of control.

The rapid rise in cases, if sustained, could also force the government to reconsider plans for a gradual return to normality after the end of Ramadan on April 22 or 23.

Authorities have warned that Egyptians need to diligently observe the rules of social distancing, wear surgical masks in public and avoid large gatherings or face harsher measures.

The government has had a night-time curfew in place for more than a month and closed schools, universities, mosques and churches.

It halted international air travel and closed restaurants, cafes, museums, historical sites and most public parks.

The government’s strategy for the outbreak is twofold.

It aims to protect Egyptians through preventive measures and an intense media campaign educating the public on how the virus is transmitted and ways to avoid infection.

The second half of the strategy is to allow people to return to work to protect the economy from a complete meltdown.

That would leave millions hungry and wipe out the hard-won economic success from years of austerity and harsh reforms that won international praise.

The Health Ministry on Tuesday said the number of detected Covid-19 cases to date reached 7,201, of whom 1,730 have recovered.

The number of fatalities was 452, a one-day increase of 16.

  • Workers, who have been registered as providing essential services during the coronavirus pandemic, relax in their temporary living quarters during a media tour in Singapore. AFP
    Workers, who have been registered as providing essential services during the coronavirus pandemic, relax in their temporary living quarters during a media tour in Singapore. AFP
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    A cheering group in South Korea wave pompoms to an empty stadium as sports leagues starts behind closed doors. Reuters
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    A Bank Negara Indonesia teller serves a customer in Banda Aceh, Indonesia. EPA
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    Texas State Troopers advance upon the scene at the bar Big Daddy Zane's near Odessa, Texas, where the Ector County Sheriff's Office made the arrest of eight individuals including the bar owner. AP
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    Auto-rickshaws sit parked outside branches of Bank of India and Yes Bank Ltd. on a near-empty street in Mumbai, India. Bloomberg
  • Medical practitioners take information from members of the public at a drive through testing clinic in the carpark of Victoria Gardens Shopping Centre in Melbourne, Australia. Getty
    Medical practitioners take information from members of the public at a drive through testing clinic in the carpark of Victoria Gardens Shopping Centre in Melbourne, Australia. Getty
  • A medical practitioner performs a coronavirus test in the carpark of Bunnings in West Footscray in Melbourne, Australia. Getty
    A medical practitioner performs a coronavirus test in the carpark of Bunnings in West Footscray in Melbourne, Australia. Getty
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    Demonstrators hold a "Rolling Car Rally" in front of Democratic Governor Ned Lamont's residence while protesting against the state's stay-at-home order to combat coronavirus in Hartford, Connecticut. Getty
  • Garment workers return from a workplace as factories reopened in Dhaka, Bangladesh. Reuters
    Garment workers return from a workplace as factories reopened in Dhaka, Bangladesh. Reuters
  • Health workers collect blood samples from a man at a locked-down area in Colombo, Sri Lanka.. EPA
    Health workers collect blood samples from a man at a locked-down area in Colombo, Sri Lanka.. EPA
  • People have lunch in a Taiwanese hot pot style restaurant in Bangkok, Thailand. Reuters
    People have lunch in a Taiwanese hot pot style restaurant in Bangkok, Thailand. Reuters
  • A woman waves a red cloth indicating she needs food, at a highway in Medellin, Colombia during the novel coronavirus, COVID-19, pandemic. AFP
    A woman waves a red cloth indicating she needs food, at a highway in Medellin, Colombia during the novel coronavirus, COVID-19, pandemic. AFP
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    People walk at night along a street in Tokyo. AFP
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    People arrive at Frauenkirche 'Cathedral of Our Lady' for evening mass on the first day churches and other houses of worship are allowed to hold services again in Bavaria, Germany. Getty

The new record, the latest in a series of highs over the past two weeks, suggests that the outbreak has yet to peak.

It is an ominous scenario in a country of 100 million and a healthcare system damaged by decades of negligence.

Egyptians are crowded on less than 10 per cent of the country’s land and many live in unhygienic conditions.

The government has reassured them that it can handle more infections if needs be because it has used only a fraction of the hospital space available.

Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

THE BIO

BIO:
Born in RAK on December 9, 1983
Lives in Abu Dhabi with her family
She graduated from Emirates University in 2007 with a BA in architectural engineering
Her motto in life is her grandmother’s saying “That who created you will not have you get lost”
Her ambition is to spread UAE’s culture of love and acceptance through serving coffee, the country’s traditional coffee in particular.

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VEZEETA PROFILE

Date started: 2012

Founder: Amir Barsoum

Based: Dubai, UAE

Sector: HealthTech / MedTech

Size: 300 employees

Funding: $22.6 million (as of September 2018)

Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC

Results

6.30pm: The Madjani Stakes (PA) Group 3 Dh175,000 (Dirt) 1,900m

Winner: Aatebat Al Khalediah, Fernando Jara (jockey), Ali Rashid Al Raihe (trainer).

7.05pm: Maiden (TB) Dh165,000 (D) 1,400m

Winner: Down On Da Bayou, Royston Ffrench, Salem bin Ghadayer.

7.40pm: Maiden (TB) Dh165,000 (D) 1,600m

Winner: Dubai Avenue, Fernando Jara, Ali Rashid Al Raihe.

8.15pm: Handicap (TB) Dh190,000 (D) 1,200m

Winner: My Catch, Pat Dobbs, Doug Watson.

8.50pm: Dubai Creek Mile (TB) Listed Dh265,000 (D) 1,600m

Winner: Secret Ambition, Tadhg O’Shea, Satish Seemar.

9.25pm: Handicap (TB) Dh190,000 (D) 1,600m

Winner: Golden Goal, Pat Dobbs, Doug Watson.

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.”