This photo taken on December 10, 2019 shows a firefighter conducting back-burning measures to secure residential areas from encroaching bushfires in the Central Coast, some 90-110 kilometres north of Sydney. AFP
This photo taken on December 10, 2019 shows a firefighter conducting back-burning measures to secure residential areas from encroaching bushfires in the Central Coast, some 90-110 kilometres north of Sydney. AFP
This photo taken on December 10, 2019 shows a firefighter conducting back-burning measures to secure residential areas from encroaching bushfires in the Central Coast, some 90-110 kilometres north of Sydney. AFP
This photo taken on December 10, 2019 shows a firefighter conducting back-burning measures to secure residential areas from encroaching bushfires in the Central Coast, some 90-110 kilometres north of

Australians protest as bushfire haze sparks health fears


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Thousands of protesters rallied in Sydney on Wednesday demanding urgent climate action from Australia's government, as bushfire smoke choking the city caused health problems to spike.

Sydney has endured weeks bathed in toxic smoke as hundreds of blazes have raged across the countryside, with hospitals recording a 25 per cent increase in the number of people visiting emergency departments last week.

On Tuesday smoke alarms rang out across Australia's biggest city, with thick haze triggering smoke alarms and forcing buildings to be evacuated, schoolchildren to be kept indoors, and ferries to be cancelled.

The devastating fires have focused attention on climate change, with scientists saying the blazes have come earlier and with more intensity than usual due to global warming and a prolonged drought.

Around 5,000 people gathered as the demonstration began, voicing anger at the government's silence in the face of the crisis.

"The country is on fire" said Samuel Wilkie, 26, who was attending his first climate protest. He described politicians' response as "pathetic".

"Our government is not doing anything about it," said landscape gardener, Zara Zoe, 29. "No one is listening, no one is doing anything."

Prime Minister Scott Morrison — a staunch backer of Australia's vast coal industry — has said little about the smoke since the crisis began, preferring to focus on fire-hit rural communities.

Organiser Chloe Rafferty said that had created anger at the conservative government's inaction.

"I think the wider public can see that we are not expecting the climate crisis in the future but we are facing the climate crisis now," she told AFP.

"People are experiencing it in their day-to-day lives."

As well as a rise in people visiting hospitals with smoke-related health symptoms, the number of emergency calls for ambulances spiked 30 per cent last week.

"For most people, smoke causes mild symptoms like sore eyes, nose and throat," top health department official Richard Broome said.

"However, people with conditions like asthma, emphysema and angina are at greater risk because the smoke can trigger their symptoms."

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HIV on the rise in the region

A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.

New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.

Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.

Access to HIV testing, treatment and care in the region is well below the global average.  

Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.

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.”

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