The US on Tuesday recorded its one-millionth coronavirus case as countries including Spain, Russia and Nigeria took tentative steps towards normality by preparing to reopen some businesses.
Excitement over partial easing of lockdowns has been tempered by fears of new outbreaks and growing evidence of the economic devastation wreaked by the Covid-19 pandemic.
The US, where millions of jobs have been lost, reached another grim milestone as it registered 58,365 deaths, a larger loss of life than recorded by the US military in the Vietnam War.
And the overall US case load rose to 1,010,717 in a public health disaster that could threaten President Donald Trump's re-election.
But some countries have reported falling infection numbers and governments have begun to chart their way out of the shutdown.
France said on Tuesday that shops, markets and some schools could reopen next month, with face masks required on public transport and orders to work from home staying in place for several more weeks.
French Prime Minister Edouard Philippe admitted that even a gradual return to normal life was risky.
Spain said restrictions would be slowly lifted over the next two months, while Italians will be able to exercise outdoors and visit relatives from next week, but only if they wear masks and refrain from hugs and handshakes.
Italy, Spain and France have been the worst affected countries in Europe, with each reporting more than 23,000 deaths.
In Russia, President Vladimir Putin warned that the peak of coronavirus infections was still ahead.
"The situation remains very difficult," Mr Putin said.
But he said that lockdown measures could be eased from next month.
Data on infection rates has shown mixed results in Germany, which is being closely watched after allowing some shops to reopen last week.
"We all need to take care that we don't end up with more infections," said Lothar Wieler, president of the Robert Koch Institute for disease control.
Experts have warned of a second wave of contagion if restrictions are lifted too hastily, and the World Health Organisation has said reinfection might be possible even among recovered patients.
In Nigeria's largest city Lagos, bus driver Taju Olonade said that a decision to ease the lockdown showed that authorities had finally listened "to the cries of the people".
"For almost one month I have not earned a penny," Mr Olonade said. "I hope life will soon return to normal."
The new coronavirus has killed at least 215,000 people since the outbreak emerged in China in December.
At least 3,110,702 cases have been registered in 193 countries and territories, although the official tally is widely thought to lag far behind the actual figures.
The US had the most deaths over the latest 24-hour period with 1,970, followed by Britain with 586.
With the US seeing by far the highest number of deaths, Mr Trump has increasingly sought to blame China for the mounting toll.
China responded fiercely on Tuesday, accusing US politicians of "bare-faced lies".
"They have only one objective: shirk their responsibility for their own poor epidemic prevention and control measures," China's Foreign Ministry spokesman Geng Shuang said.
Beijing and Washington have clashed repeatedly over the outbreak as tension soars between the world's two biggest economic powers.
The outbreak seems to be under control in China with no new deaths reported for 13 straight days and the toll standing at 4,633.
Anger at the global economic paralysis has intensified in recent weeks, and anti-government protesters took to the streets in Lebanon on Tuesday in defiance of a lockdown.
"I came down to raise my voice against hunger, poverty and rising prices," said Khaled, 41.
He said he had lost his job selling motorcycle parts and could no longer support his three children.
In the latest sign of big business woes, British Airways is set to slash up to 12,000 jobs, its parent company said.
The carrier, which has about 45,000 employees, has already sent almost 23,000 staff home.
Despite other European countries moving towards reopening schools and shops, British Prime Minister Boris Johnson said it was too early for the UK to follow.
That was in contrast to New Zealand, where people enjoyed fast food and coffee shop treats for the first time in five weeks as the country lifted its strict lockdown.
"We see the difference in other countries and I don't envy them, that's for sure," said Wellington resident Cheryl Robertson, who planned to celebrate her rediscovered freedom with a curry.
In Australia, hundreds of surfers and swimmers rushed back to the waves at Bondi Beach in Sydney, five weeks after police closed the area because of large crowds flouting social distancing rules.
"I've been excited for like a week," said Diane Delaurens, dripping after an early morning surf.
There is not yet a vaccine for the disease and Britain issued a warning of coronavirus-related syndrome emerging in children, including abdominal pain and inflammation around the heart.
"What I would also stress is that it is rare," UK Health Secretary Matt Hancock said.
"Although it is very significant for those children who do get it, the number of cases is small."
In Tokyo, organisers said the delayed 2020 Olympics woud have to be cancelled next year if the pandemic were not brought under control.
In Latin America, Brazil emerged as a new hotspot with 5,000 deaths so far, while nine inmates were killed when rioting broke out at a prison in Lima, Peru after two died from Covid-19.
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.”
Men’s singles
Group A: Son Wan-ho (Kor), Lee Chong Wei (Mas), Ng Long Angus (HK), Chen Long (Chn)
Group B: Kidambi Srikanth (Ind), Shi Yugi (Chn), Chou Tien Chen (Tpe), Viktor Axelsen (Den)
Women’s Singles
Group A: Akane Yamaguchi (Jpn), Pusarla Sindhu (Ind), Sayaka Sato (Jpn), He Bingjiao (Chn)
Group B: Tai Tzu Ying (Tpe), Sung Hi-hyun (Kor), Ratchanok Intanon (Tha), Chen Yufei (Chn)
Teri%20Baaton%20Mein%20Aisa%20Uljha%20Jiya
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Amit%20Joshi%20and%20Aradhana%20Sah%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECast%3A%3C%2Fstrong%3E%20Shahid%20Kapoor%2C%20Kriti%20Sanon%2C%20Dharmendra%2C%20Dimple%20Kapadia%2C%20Rakesh%20Bedi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Results:
6.30pm: Handicap (Turf) | US$175,000 2,410m | Winner: Bin Battuta, Christophe Soumillon (jockey), Saeed bin Suroor (trainer)
7.05pm: UAE 1000 Guineas Trial Conditions (Dirt) | $100,000 | 1,400m | Winner: Al Hayette, Fabrice Veron, Ismail Mohammed
7.40pm: Handicap (T) | $145,000 | 1,000m | Winner: Faatinah, Jim Crowley, David Hayes
8.15pm: Dubawi Stakes Group 3 (D) | $200,000 | 1,200m | Winner: Raven’s Corner, Richard Mullen, Satish Seemar
8.50pm: Singspiel Stakes Group 3 (T) | $200,000 | 1,800m | Winner: Dream Castle, Christophe Soumillon, Saeed bin Suroor
9.25pm: Handicap (T) | $175,000 | 1,400m | Winner: Another Batt, Connor Beasley, George Scott
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
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What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5