Christmas shoppers greet each other in Edinburgh city centre. The UK government has said it is 'still too early to determine next steps' needed to tackle Omicron. PA
Christmas shoppers greet each other in Edinburgh city centre. The UK government has said it is 'still too early to determine next steps' needed to tackle Omicron. PA
Christmas shoppers greet each other in Edinburgh city centre. The UK government has said it is 'still too early to determine next steps' needed to tackle Omicron. PA
Christmas shoppers greet each other in Edinburgh city centre. The UK government has said it is 'still too early to determine next steps' needed to tackle Omicron. PA

Omicron 'tipping into older population' in UK at Christmas


Laura O'Callaghan
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Omicron live updates: The latest developments on the variant

Britons have been hit by a pre-Christmas warning about the potential for the Omicron variant to spread rapidly through the older population at family gatherings.

Dr Jenny Harries, chief executive of UK Health Security Agency, said new data suggesting Omicron has a lower hospital admission rate than Delta was compiled when the variant was predominantly affecting younger people.

She said elderly men and women are at risk of catching the disease over the festive period which could drive hospital admission and ventilator use skywards.

“I don’t think we do know yet that this is going to be a significantly less serious disease for the population, the older population, that we’re normally most concerned about in relation to serious disease and death,” Dr Harries told BBC Radio 4’s Today programme.

“We’re not seeing very significant rises in intensive care unit utilisation or use of ventilation beds. Now that may be because a lot of the people who’ve been infected to date are actually younger people.”

On Thursday, the latest analysis by the UKHSA suggested that Omicron is milder than past Covid variants such as Delta, with between 50 and 70 per cent of people less likely to be admitted to hospital.

The agency emphasised that its findings regarding the severity of Omicron were “preliminary and highly uncertain” because of the small numbers of confirmed cases currently in hospital.

A health worker gives a man a Covid booster jab at a pop-up vaccination centre at the MyLahore British Asian Kitchen in Bradford, West Yorkshire. AFP
A health worker gives a man a Covid booster jab at a pop-up vaccination centre at the MyLahore British Asian Kitchen in Bradford, West Yorkshire. AFP

The data suggests someone with Omicron is estimated to be between 31 and 45 per cent less likely to seek emergency hospital treatment, compared with Delta, and between 50 and 70 per cent less likely to be admitted to hospital.

However, Omicron is believed to be infecting more people who have previously had Covid, with 9.5 per cent of people with Omicron having contracted it before.

Dr Harries said the findings offered a “glimmer of Christmas hope” but cautioned that the UK had not yet reached the stage where the official threat from Omicron could be downgraded.

After Omicron was first detected in the UK in November, the variant began to spread rapidly through community transmission.

Dr Harries said it had only recently started to infect middle-aged and older people, a factor which could see the data on Omicron undergo significant changes in the coming weeks.

“It’s the dominant strain now across the UK and our concerns about immunovasion have actually been recognised.

“What we’ve got now is a really fine balance between something that looks like a lower risk of hospitalisation which is great news but equally a highly transmissible variant and one that we know evades some of our immune defences,” she said.

She said the variant is doubling about every two days “in most regions” of the UK, but said the country was “still in this uncertain period” due to the many cases which go undetected and the newness of the variant.

The health agency's analysis came as the UK experienced yet another record-breaking number of daily reported Covid cases, with 119,789 reported on Thursday.

This was the second day, after Wednesday, since the pandemic began that daily lab-confirmed case rates were above 100,000.

Vaccination is also believed to give less protection against Omicron, although a booster jab provides more protection against symptomatic disease compared with the first two doses alone.

Data suggests protection starts to wane 10 weeks after booster vaccination.

Asked whether people would need further boosters so soon after having their third shot of a vaccine, Dr Harries declined to offer a time frame for doses but said it was “entirely natural” for the effectiveness of jabs to wane over time.

The agency has said that Omicron's faster rate of transmission than Delta may mean that a large number of people are likely to require hospital admission, leading to a large amount of pressure on the National Health Service.

Health Secretary Sajid Javid described the UKHSA findings as “promising”, but also said: “Hospital admissions are increasing, and we cannot risk the NHS being overwhelmed.

“This is early-stage analysis and we continue to monitor the data hour by hour.

“It is still too early to determine next steps.”

This week Britain’s Prime Minster Boris Johnson held out against pressure from scientists and decided not to impose tighter Covid restrictions before Christmas.

Instead, the government urged people to exercise caution when socialising and gathering for family celebrations.

The devolved administrations in Scotland, Wales and Northern Ireland adopted a different approach.

From Sunday, outdoor events will be limited to 50, the Welsh government has announced, and a two metre social distancing rule will apply in most public settings.

Restaurants and bars can only offer table service and people can meet in groups of a maximum of six.

In Scotland, attendance at large public events is set to be limited from Boxing Day which will make football matches spectator-free.

From Monday, hospitality venues will have to return to a previous table-service only requirement.

Nightclubs in Northern Ireland will close from December 26 and the following day will see a table-service only policy ushered in for bars and restaurants. The “Rule of Six” will be brought back, limiting the number of people that can socialise together.

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

The Vile

Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

The biog

Age: 30

Position: Senior lab superintendent at Emirates Global Aluminium

Education: Bachelor of science in chemical engineering, post graduate degree in light metal reduction technology

Favourite part of job: The challenge, because it is challenging

Favourite quote: “Be the change you wish to see in the world,” Gandi

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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Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
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Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Tips to avoid getting scammed

1) Beware of cheques presented late on Thursday

2) Visit an RTA centre to change registration only after receiving payment

3) Be aware of people asking to test drive the car alone

4) Try not to close the sale at night

5) Don't be rushed into a sale 

6) Call 901 if you see any suspicious behaviour

Company profile

Name: Back to Games and Boardgame Space

Started: Back to Games (2015); Boardgame Space (Mark Azzam became co-founder in 2017)

Founder: Back to Games (Mr Azzam); Boardgame Space (Mr Azzam and Feras Al Bastaki)

Based: Dubai and Abu Dhabi 

Industry: Back to Games (retail); Boardgame Space (wholesale and distribution) 

Funding: Back to Games: self-funded by Mr Azzam with Dh1.3 million; Mr Azzam invested Dh250,000 in Boardgame Space  

Growth: Back to Games: from 300 products in 2015 to 7,000 in 2019; Boardgame Space: from 34 games in 2017 to 3,500 in 2019

Updated: December 24, 2021, 11:23 AM