A “silent tsunami” of Omicron has already hit Britain with the country posting the highest rate of daily infections since January, and fears are growing that it could reach a plateau of 100,000 cases a day throughout 2022.
Even if the variant is less lethal than the Delta variant, experts told The National to expect its spread to double the current daily rate of 150 deaths, possibly leading to more than 40,000 fatalities in the next six months.
Britain reported 59,610 new Covid-19 cases on Tuesday, the highest figure since early January. The number of patients being admitted to hospital between December 4 and December 10 was also up 10 per cent compared with the previous seven days, with 5,925 people currently admitted.
There are also concerns that despite Britain’s intensive booster campaign, which hopes to achieve one million doses a day, the new variant will sweep the country before immunity kicks in.
“There’s absolutely no question that it is spreading like the clappers as it is at least two times more infectious than Delta, which is already really fast,” said Prof Jennifer Rohn.
“We're looking at a very difficult time in the next few months. Boosters are great, but it takes one to two weeks to build up that additional help.”
The leading virologist from University College London added that most modelling was showing there are “hundreds of thousands of cases right now”, with London in particular affected.
“So, the silent tsunami is here. We just haven't felt the effects of it yet.”
Omicron is now set to be the dominant variant in London by as soon as Christmas, a statistician from the government’s Scientific Pandemic Influenza Group on Modelling told The National.
Although infections are doubling every two and half days, Prof Graeme Ackland does not believe that exponential rate will be sustainable for long.
“I would be surprised if that phase lasted for more than a couple of weeks, but even so, at that point, there'll be a hell of a lot of infections.”
That phase will then be repeated about two weeks later across Britain as the infection spreads.
His modelling suggests that both the daily infection rate and therefore death rates are now likely to double with Omicron.
“I think people are very uncertain and nobody at the moment really wants to say how dangerous this is going to be,” the Edinburgh University academic said.
“It could be pretty mild, turning into a regular cold spreading through the population, and it could be all over. But that's the dream scenario and I don't think anybody really expects that.”
The statistician said all eyes were now on South Africa’s capital Johannesburg in Gauteng province, where Omicron is dominant.
“Everybody is watching the numbers in Gauteng in South Africa, which has been ahead of the game for long enough that a lot of people would be dying if it was really lethal,” he said.
“But it will take at least a week to understand whether the disease is as lethal as the Delta variant.”
Prof Rohn agreed that while the South Africa data “remains promising”, it has a predominantly younger population than Europe.
Her concern was that even if it is less lethal than Delta, the high infection rates of Omicron mean that “just a small fraction of a very large number is still a very large number”.
The key unknown at present is the percentage of infections that lead to hospital admissions.
“That’s really the missing crucial piece of the puzzle which is going to take a few weeks to clarify,” she said. “I would not be surprised if it was slightly less lethal and that does seem to be the emerging consensus.”
Britain's Health Secretary Sajid Javid announced on Tuesday that hotel quarantine for travellers arriving in England would be abandoned later this week after the rapid spread of Omicron made such measures unnecessary.
People arriving in the UK from 11 African countries have been required to spend 11 nights in a quarantine hotel at a cost of £2,285 ($3,024) for solo travellers.
Meanwhile, England has been hit by a shortage of rapid coronavirus tests at walk-in or drive-through sites following a surge in cases.
UK Health Security Agency sources said “exceptionally high demand” for the in-person tests has created pressure on the system and temporarily led to reduced availability in some areas.
Hospital admissions will play a key role in deciding whether Britain enters another lockdown. Despite the UK’s high Delta infection rate, averaging about 35,000 a day since July, daily hospital admissions are averaging about 700, whereas in January they reached a peak of 4,500.
If Omicron causes the same level of hospital admissions then the government might have to order a lockdown.
“It’s a political decision but ultimately lockdown depends on hospital admissions,” said Prof Ackland.
“Another lockdown, which would probably stop the infection wave, otherwise it would have to run its course through the population so people acquire immunity. This could mean that Omicron becomes no more an irritant than the common cold.”
Again, early data suggests that the variant only affects the nose and throat area, rather than penetrating to the lungs and causing serious illness.
“Therefore, it may well run for a year and possibly nobody will care,” said Prof Ackland.
Prof Rohn, who last week told The National that Omicron could be similar to a common cold, now argues that a cold does not put people in hospital.
“I don't think it's mild enough to be that scenario but maybe evolutionarily speaking, we're getting close to that,” she said.
There are also concerns over Europe’s ability to handle the coming wave of infection as Britain has administered more than double the number of the continent’s booster vaccines. Our Word In Data figures show the UK has given boosters to 35 per cent of its entire population, compared to 17 per cent in all of Europe.
With parts of Europe in lockdown to defeat the currently dominant Delta variant, there is a concern that this could be extended to prevent Omicron overwhelming health systems.
“If they don't get their booster programmes going, they could be in trouble because it’s already sweeping through Denmark and soon it will be sweeping everywhere,” said Prof Rohn.
There is also a suggestion that there could be a rise in deaths among younger people who are unvaccinated. The South Africa evidence showed that up to 90 per cent of those admitted to hospital had not been vaccinated.
The lack of clarity on Omicron’s virulence has led to the government being overcautious before empirical evidence is available, say the scientists.
What happens in the hospitals and mortuaries around Johannesburg in the coming days is likely to determine what lies ahead for the world in the coming year.
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
UAE currency: the story behind the money in your pockets
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
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DUBAI%20BLING%3A%20EPISODE%201
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Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
'HIJRAH%3A%20IN%20THE%20FOOTSTEPS%20OF%20THE%20PROPHET'
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SPEC%20SHEET%3A%20APPLE%20IPHONE%2015%20PRO%20MAX
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More on Quran memorisation:
UAE currency: the story behind the money in your pockets
NATIONAL%20SELECTIONS
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Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).
THE BIG THREE
NOVAK DJOKOVIC
19 grand slam singles titles
Wimbledon: 5 (2011, 14, 15, 18, 19)
French Open: 2 (2016, 21)
US Open: 3 (2011, 15, 18)
Australian Open: 9 (2008, 11, 12, 13, 15, 16, 19, 20, 21)
Prize money: $150m
ROGER FEDERER
20 grand slam singles titles
Wimbledon: 8 (2003, 04, 05, 06, 07, 09, 12, 17)
French Open: 1 (2009)
US Open: 5 (2004, 05, 06, 07, 08)
Australian Open: 6 (2004, 06, 07, 10, 17, 18)
Prize money: $130m
RAFAEL NADAL
20 grand slam singles titles
Wimbledon: 2 (2008, 10)
French Open: 13 (2005, 06, 07, 08, 10, 11, 12, 13, 14, 17, 18, 19, 20)
US Open: 4 (2010, 13, 17, 19)
Australian Open: 1 (2009)
Prize money: $125m
RESULT
Huddersfield Town 1 Manchester City 2
Huddersfield: Otamendi (45' 1 og), van La Parra (red card 90' 6)
Man City: Agüero (47' pen), Sterling (84')
Man of the match: Christopher Schindler (Huddersfield Town)
The specs: 2017 Dodge Ram 1500 Laramie Longhorn
Price, base / as tested: Dhxxx
Engine: 5.7L V8
Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
Torque: 556Nm @ 3,950rpm
Fuel economy, combined: 12.7L / 100km
Email sent to Uber team from chief executive Dara Khosrowshahi
From: Dara
To: Team@
Date: March 25, 2019 at 11:45pm PT
Subj: Accelerating in the Middle East
Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.
Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.
I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.
This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.
It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.
Uber on,
Dara
RESULTS
Lightweight (female)
Sara El Bakkali bt Anisha Kadka
Bantamweight
Mohammed Adil Al Debi bt Moaz Abdelgawad
Welterweight
Amir Boureslan bt Mahmoud Zanouny
Featherweight
Mohammed Al Katheeri bt Abrorbek Madaminbekov
Super featherweight
Ibrahem Bilal bt Emad Arafa
Middleweight
Ahmed Abdolaziz bt Imad Essassi
Bantamweight (female)
Ilham Bourakkadi bt Milena Martinou
Welterweight
Mohamed Mardi bt Noureddine El Agouti
Middleweight
Nabil Ouach bt Ymad Atrous
Welterweight
Nouredine Samir bt Marlon Ribeiro
Super welterweight
Brad Stanton bt Mohamed El Boukhari
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.”
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
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