An Iranian doctor works at a drugstore in downtown Tehran, Iran, 20 July 2020. EPA
An Iranian doctor works at a drugstore in downtown Tehran, Iran, 20 July 2020. EPA
An Iranian doctor works at a drugstore in downtown Tehran, Iran, 20 July 2020. EPA
An Iranian doctor works at a drugstore in downtown Tehran, Iran, 20 July 2020. EPA

Coronavirus: Iran posts highest death rate so far as cases continue to climb


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Iran said a record 229 people died in the past 24 hours from its outbreak of the coronavirus, health ministry figures showed on Tuesday.

Iran, the Middle East country hardest hit by the pandemic, began relaxing its lockdown in mid-April, at least partly to boost an economy battered by US sanctions.

The Islamic republic has recorded a total of 14,634 deaths from the coronavirus, health ministry spokeswoman Sima Sadat Lari said on state TV, adding that there have been 278,827 infections and 242,351 recoveries.

The previous record of deaths from the new coronavirus in a 24-hour period was on July 9, when health ministry figures showed 221 people had died.

  • An Iranian sanitary worker disinfects Qom's Masumeh shrine on February 25, 2020 to prevent the spread of the coronavirus. AFP
    An Iranian sanitary worker disinfects Qom's Masumeh shrine on February 25, 2020 to prevent the spread of the coronavirus. AFP
  • Iranian Firefighters disinfect streets in the capital Tehran in a bid to halt the wild spread of coronavirus on March 13, 2020. AFP
    Iranian Firefighters disinfect streets in the capital Tehran in a bid to halt the wild spread of coronavirus on March 13, 2020. AFP
  • A nearly empty Hazrat Masumeh Shrine in Qom, Iran on March 1, 2020. AFP
    A nearly empty Hazrat Masumeh Shrine in Qom, Iran on March 1, 2020. AFP
  • Iranian Deputy Health Minister Iraj Harirchi (left) wipes the sweat off his face, during a press conference with the Islamic republic's government spokesman Ali Rabiei in the capital Tehran on February 24, 2020. AFP
    Iranian Deputy Health Minister Iraj Harirchi (left) wipes the sweat off his face, during a press conference with the Islamic republic's government spokesman Ali Rabiei in the capital Tehran on February 24, 2020. AFP
  • An image grab of footage obtained from Iranian State TV IRINN on February 25, 2020, shows Iran's deputy health minister Iraj Harirchi speaking in a video apparently shot by himself, regarding being infected with coronavirus. AFP
    An image grab of footage obtained from Iranian State TV IRINN on February 25, 2020, shows Iran's deputy health minister Iraj Harirchi speaking in a video apparently shot by himself, regarding being infected with coronavirus. AFP
  • Iran's Azadi (Freedom) Tower is lit up with flags and messages of hope in solidarity with all the countries affected by the coronavirus pandemic, in Tehran on March 31, 2020. AFP
    Iran's Azadi (Freedom) Tower is lit up with flags and messages of hope in solidarity with all the countries affected by the coronavirus pandemic, in Tehran on March 31, 2020. AFP
  • Iranian workers set up a makeshift hospital inside the Iran Mall, northwest of Tehran, on March 21, 2020 amid the coronavirus outbreak. - Iran said that 123 more people had died from coronavirus, raising the official death toll to 1,556 in the Islamic republic, one of the world's worst affected countries. AFP
    Iranian workers set up a makeshift hospital inside the Iran Mall, northwest of Tehran, on March 21, 2020 amid the coronavirus outbreak. - Iran said that 123 more people had died from coronavirus, raising the official death toll to 1,556 in the Islamic republic, one of the world's worst affected countries. AFP
  • Volunteers wearing protective clothing, take part in disinfecting a village during the coronavirus outbreak, in the outskirts of the city of Ghaemshahr, in north of Iran, on Wednesday, April 29, 2020. AP Photo
    Volunteers wearing protective clothing, take part in disinfecting a village during the coronavirus outbreak, in the outskirts of the city of Ghaemshahr, in north of Iran, on Wednesday, April 29, 2020. AP Photo
  • Shoppers clad in protective gear, including face masks and shields and latex gloves, due to the coronavirus pandemic, walk through the Tajrish Bazaar in Iran's capital Tehran on April 25, 2020. AFP
    Shoppers clad in protective gear, including face masks and shields and latex gloves, due to the coronavirus pandemic, walk through the Tajrish Bazaar in Iran's capital Tehran on April 25, 2020. AFP
  • A customer wears a protective masks at a pharmacy in the Iranian capital Tehran on February 24, 2020. AFP
    A customer wears a protective masks at a pharmacy in the Iranian capital Tehran on February 24, 2020. AFP
  • A Tehran Municipality worker cleans a bus to avoid the spread of Covid-19 on February 26, 2020. AFP
    A Tehran Municipality worker cleans a bus to avoid the spread of Covid-19 on February 26, 2020. AFP
  • A man stands by the closed gate outside the Imamzadeh Saleh in the Iranian capital Tehran's Shemiran district on April 25, 2020 . AFP
    A man stands by the closed gate outside the Imamzadeh Saleh in the Iranian capital Tehran's Shemiran district on April 25, 2020 . AFP
  • Labourers unloading medical equipment and coronavirus testing kits provided by the World Health Organisation, from a UAE military transport plane upon their arrival at Mehrabad International Airport in Iran's capital Tehran. AFP
    Labourers unloading medical equipment and coronavirus testing kits provided by the World Health Organisation, from a UAE military transport plane upon their arrival at Mehrabad International Airport in Iran's capital Tehran. AFP

While the official number of cases is in the tens of thousands, President Hassan Rouhani said last week that as many as 25 million Iranians may have had the contagion.

"Our estimate is that, so far, 25 million Iranians have been infected with this virus and about 14,000 have lost their lives," Mr Rouhani said.

Hospitals in Iran face acute shortages of medical personnel and beds as the country tackles a powerful second wave of the Covid-19 pandemic, a senior official with Tehran’s anti-coronavirus task force, Reza Jalili-Khoshnood, said last week.

His comments contrasted with Mr Rouhani’s regular assurances that Iran has sufficient supplies of medical personnel and facilities.

He and Supreme Leader Ayatollah Ali Khamenei, the highest authority in the country, are now regularly shown on state media wearing a mask, a means of encouraging ordinary Iranians to also use masks more frequently.

The surge in cases led authorities on Saturday to reimpose restrictions for a week in Tehran, including banning religious and cultural functions, closing boarding schools, cafes, indoor pools, amusement parks and zoos.

From Sunday, 22 cities and towns in the southwestern Khuzestan province were under a three-day lockdown.

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Uefa Nations League

League A:
Germany, Portugal, Belgium, Spain, France, England, Switzerland, Italy, Poland, Iceland, Croatia, Netherlands

League B:
Austria, Wales, Russia, Slovakia, Sweden, Ukraine, Republic of Ireland, Bosnia-Herzegovina, Northern Ireland, Denmark, Czech Republic, Turkey

League C:
Hungary, Romania, Scotland, Slovenia, Greece, Serbia, Albania, Norway, Montenegro, Israel, Bulgaria, Finland, Cyprus, Estonia, Lithuania

League D:
Azerbaijan, Macedonia, Belarus, Georgia, Armenia, Latvia, Faroe Islands, Luxembourg, Kazakhstan, Moldova, Liechtenstein, Malta, Andorra, Kosovo, San Marino, Gibraltar

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Results
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Meatless Days
Sara Suleri, with an introduction by Kamila Shamsie
​​​​​​​Penguin 

RESULT

Argentina 0 Croatia 3
Croatia: 
Rebic (53'), Modric (80'), Rakitic (90' 1)

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

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.”

WandaVision

Starring: Elizabeth Olsen, Paul Bettany

Directed by: Matt Shakman

Rating: Four stars

Race card

4pm Al Bastakiya Listed US$300,000 (Dirt) 1,900m

4.35pm Mahab Al Shimaal Group 3 $350,000 (D) 1,200m

5.10pm Nad Al Sheba Turf Group 3 $350,000 (Turf) 1,200m

5.45pm Burj Nahaar Group 3 $350,000 (D) 1,600m

6.20pm Jebel Hatta Group 1 $400,000 (T) 1,800m

6.55pm Al Maktoum Challenge Round-3 Group 1 $600,000 (D) 2,000m

7.30pm Dubai City Of Gold Group 2 $350,000 (T) 2,410m

The National selections:

4pm Zabardast

4.35pm Ibn Malik

5.10pm Space Blues

5.45pm Kimbear

6.20pm Barney Roy

6.55pm Matterhorn

7.30pm Defoe

SQUADS

India
Virat Kohli (captain), Rohit Sharma (vice-captain), Shikhar Dhawan, Ajinkya Rahane, Manish Pandey, Kedar Jadhav, Dinesh Karthik, Mahendra Singh Dhoni (wicketkeeper), Hardik Pandya, Axar Patel, Kuldeep Yadav, Yuzvendra Chahal, Jasprit Bumrah, Bhuvneshwar Kumar, Shardul Thakur

New Zealand
Kane Williamson (captain), Martin Guptill, Colin Munro, Ross Taylor, Tom Latham (wicketkeeper), Henry Nicholls, Ish Sodhi, George Worker, Glenn Phillips, Matt Henry, Colin de Grandhomme, Mitchell Santner, Tim Southee, Adam Milne, Trent Boult

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Expo details

Expo 2020 Dubai will be the first World Expo to be held in the Middle East, Africa and South Asia

The world fair will run for six months from October 20, 2020 to April 10, 2021.

It is expected to attract 25 million visits

Some 70 per cent visitors are projected to come from outside the UAE, the largest proportion of international visitors in the 167-year history of World Expos.

More than 30,000 volunteers are required for Expo 2020

The site covers a total of 4.38 sqkm, including a 2 sqkm gated area

It is located adjacent to Al Maktoum International Airport in Dubai South

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

UAE currency: the story behind the money in your pockets