• Muslim worshippers pray in the courtyard of the historic Al Azhar mosque in Cairo on August 28, 2020 as Egypt reopened mosques for Friday prayers. AFP
    Muslim worshippers pray in the courtyard of the historic Al Azhar mosque in Cairo on August 28, 2020 as Egypt reopened mosques for Friday prayers. AFP
  • The faithful queue to enter Cairo's Al Azhar mosque after it was reopened for Friday prayers. AFP
    The faithful queue to enter Cairo's Al Azhar mosque after it was reopened for Friday prayers. AFP
  • A security guard checks the temperature of worshippers before they enter the Al Azhar mosque. Reuters
    A security guard checks the temperature of worshippers before they enter the Al Azhar mosque. Reuters
  • Worshippers enter the courtyard of the Al Azhar mosque. Reuters
    Worshippers enter the courtyard of the Al Azhar mosque. Reuters
  • Worshippers have to observe strict preventive measures, including mandatory use masks, social distancing, and use of personal prayer rugs. AFP
    Worshippers have to observe strict preventive measures, including mandatory use masks, social distancing, and use of personal prayer rugs. AFP
  • Worshippers perform Friday prayers inside Cairo's Al Azhar mosque. AFP
    Worshippers perform Friday prayers inside Cairo's Al Azhar mosque. AFP
  • A Muslim wears a protective face mask while praying inside the Al Azhar mosque in Cairo. Reuters
    A Muslim wears a protective face mask while praying inside the Al Azhar mosque in Cairo. Reuters
  • Egyptian authorities have limited the Friday sermon to 10 minutes and ordered mosques to close immediately after prayers to reduce the risk of infection. Reuters
    Egyptian authorities have limited the Friday sermon to 10 minutes and ordered mosques to close immediately after prayers to reduce the risk of infection. Reuters
  • A worshipper takes a selfie as he leaves Al Azhar mosque in Cairo after performing Friday prayers. AFP
    A worshipper takes a selfie as he leaves Al Azhar mosque in Cairo after performing Friday prayers. AFP

Egypt presses ahead with reopening as Covid-19 cases edge higher


Hamza Hendawi
  • English
  • Arabic

Egypt reopened some mosques for Friday prayers despite a rising daily tallies of coronavirus cases in the past week that validated official warnings of a second wave of infections if preventive precautions are not taken more seriously.

Prime Minister Mustafa Madbouli and Health Minister Hala Zayed have been calling out Egyptians for ignoring rules about wearing face masks and maintaining social distancing in public.

“The occurrence of a second wave is mostly associated with a false sense of security that the pandemic is over and that prompts them [Egyptians] to be lax about adhering to precautionary measures,” Mrs Zayed was quoted as saying during a meeting with the prime minister on Wednesday.

The number of new cases reported daily in August has ranged between 150 and 200, a dramatic drop from about 1,500 in June and the first half of July. However, the number of daily infections has been rising steadily since August 22, from 89 to 237 on August 27, according to a tally of reported cases kept by Worldometer.

_______________

Coronavirus around the world

  • A woman wearing a protective face mask looks at outdoor light shows during the Beijing International Light Festival at the Yuyuantan Park in the Chinese capital. EPA
    A woman wearing a protective face mask looks at outdoor light shows during the Beijing International Light Festival at the Yuyuantan Park in the Chinese capital. EPA
  • Japan's Prime Minister Shinzo Abe wears a face mask as he arrives at his official residence in Tokyo on August 28, 2020. Reuters
    Japan's Prime Minister Shinzo Abe wears a face mask as he arrives at his official residence in Tokyo on August 28, 2020. Reuters
  • Filipinos queue Quezon City, Metro Manila for a government cash subsidy to offset the impact of the economic impact of the coronavirus pandemic. Reuters
    Filipinos queue Quezon City, Metro Manila for a government cash subsidy to offset the impact of the economic impact of the coronavirus pandemic. Reuters
  • Medical staff, police and military officials in Budapest, Hungary take part in training exercise simulating the arrival of a tourist bus with coronavirus-infected passengers. AFP
    Medical staff, police and military officials in Budapest, Hungary take part in training exercise simulating the arrival of a tourist bus with coronavirus-infected passengers. AFP
  • A public awareness notice in Tokyo reminds people to practise social distancing. AP Photo
    A public awareness notice in Tokyo reminds people to practise social distancing. AP Photo
  • A man wearing a face mask to help curb the spread of the coronavirus walks through a building in Tokyo. AP Photo
    A man wearing a face mask to help curb the spread of the coronavirus walks through a building in Tokyo. AP Photo
  • A medical worker wearing protective equipment waits at at a drive-through Covid-19 testing centre in Zagreb, Croatia. AFP
    A medical worker wearing protective equipment waits at at a drive-through Covid-19 testing centre in Zagreb, Croatia. AFP
  • A woman wearing a protective mask crosses the road at Shibuya Crossing in Tokyo, Japan. Getty Images
    A woman wearing a protective mask crosses the road at Shibuya Crossing in Tokyo, Japan. Getty Images
  • Police officers wear face shields and gloves as they stand guard at Gwanghwamun Plaza in Seoul, South Korea. EPA
    Police officers wear face shields and gloves as they stand guard at Gwanghwamun Plaza in Seoul, South Korea. EPA

_______________

The number of people in Egypt who contracted the disease since the pandemic began six months ago stood at 98,062, including 5,342 fatal cases, as of August 27.

Officials have said the risk of a second wave will increase significantly in the next two months as schools and universities reopen after a six-month closure that included the summer break.

The reopening of mosques for Friday prayers comes with the same precautions laid down when they were reopened for the five daily prayers in July. Besides wearing masks and keeping safe distance, worshippers will have to bring their own prayer mats, while washrooms for the pre-prayer cleansing will remain closed. The Friday sermon will be limited to 10 minutes and the mosques will be closed immediately after prayers.

Egypt's government has reopened the country gradually, returning it to near normality in late June after a three-month lockdown that hit the economy hard and forced it to seek billions of dollars in loans from the International Monetary Fund. A surge in infections could force the introduction of another lockdown that would deal another body blow to the economy.

Egypt's Covid-19 cases are relatively low for a country of 100 million people and a poor health system, although officials have speculated that the actual number could be 10 times the figures reported. Thousands may have been treated outside the health system or recovered from the disease without suffering severe symptoms. Many patients may have chosen to keep their illness secret because of the social stigma associated with the disease in some segments of society.

Disability on screen

Empire — neuromuscular disease myasthenia gravis; bipolar disorder; post-traumatic stress disorder (PTSD)

Rosewood and Transparent — heart issues

24: Legacy — PTSD;

Superstore and NCIS: New Orleans — wheelchair-bound

Taken and This Is Us — cancer

Trial & Error — cognitive disorder prosopagnosia (facial blindness and dyslexia)

Grey’s Anatomy — prosthetic leg

Scorpion — obsessive compulsive disorder and anxiety

Switched at Birth — deafness

One Mississippi, Wentworth and Transparent — double mastectomy

Dragons — double amputee

Engine: 5.6-litre V8

Transmission: seven-speed automatic

Power: 400hp

Torque: 560Nm

Price: Dh234,000 - Dh329,000

On sale: now

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.”

Qosty Byogaani

Starring: Hani Razmzi, Maya Nasir and Hassan Hosny

Four stars

Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Raha%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Kuwait%2FSaudi%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Tech%20Logistics%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2414%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Soor%20Capital%2C%20eWTP%20Arabia%20Capital%2C%20Aujan%20Enterprises%2C%20Nox%20Management%2C%20Cedar%20Mundi%20Ventures%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20166%3C%2Fp%3E%0A

Sting & Shaggy

44/876

(Interscope)

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

The%20Roundup%20%3A%20No%20Way%20Out
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Lee%20Sang-yong%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Don%20Lee%2C%20Lee%20Jun-hyuk%2C%20Munetaka%20Aoki%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
Match info:

Real Betis v Sevilla, 10.45pm (UAE)