An ambulance crew take a patient to the Royal London Hospital, east London. UK Hospital admissions have been rising due to a surge in Covid-19 infections. EPA
An ambulance crew take a patient to the Royal London Hospital, east London. UK Hospital admissions have been rising due to a surge in Covid-19 infections. EPA
An ambulance crew take a patient to the Royal London Hospital, east London. UK Hospital admissions have been rising due to a surge in Covid-19 infections. EPA
An ambulance crew take a patient to the Royal London Hospital, east London. UK Hospital admissions have been rising due to a surge in Covid-19 infections. EPA

Boris Johnson: UK's Covid fight going 'incomparably better' than a year ago


Tim Stickings
  • English
  • Arabic

Britain will welcome the dawn of 2022 in “incomparably better” shape than a year ago, despite setbacks in its quest to defeat the pandemic, Prime Minister Boris Johnson said on Friday.

Mr Johnson said the vaccine and booster campaign was the main reason that New Year’s Eve parties could go ahead in England, despite soaring infections with the Omicron coronavirus variant.

Although ministers ruled out new restrictions in England before the New Year, they have not ruled out acting early in 2022 if the position deteriorates.

The UK announced a record 189,213 new cases on Thursday, with the surge causing a scramble for testing kits.

In a New Year’s Eve message, Mr Johnson acknowledged public anxiety about Omicron, rising hospital admissions and the “challenges that fate continues to throw in our way”.

But “we can say one thing with certainty – our position this December 31 is incomparably better than last year”, when the country was about to enter a strict three-month lockdown, he said.

The current lack of restrictions is possible because “the British people have responded heroically, voluntarily, and in almost incredible numbers to the call to get vaccinated”, Mr Johnson said.

Almost half of the population has had a booster shot.

“It’s precisely because of that huge national effort that we can celebrate tonight at all,” said Mr Johnson.

However, the devolved governments in Scotland, Wales and Northern Ireland have broken with Mr Johnson by imposing restrictions – mirroring similar moves in much of Europe.

German Chancellor Olaf Scholz called for solidarity as the health crisis overshadows his new government’s first weeks in office. New Year's Eve gatherings are restricted and the sale of fireworks is banned.

He made a plea to vaccine sceptics to look at the evidence from four billion people who have been immunised worldwide, with serious side-effects extremely rare.

It echoed remarks by Mr Johnson that unvaccinated people should make it their New Year’s resolution to get a shot.

Vaccines are “the path out of the pandemic,” said Mr Scholz. “Now it’s about speed. We need to be faster than the virus.

“Let’s pull together to do everything – and I really mean everything – to defeat coronavirus in the new year.”

Mr Scholz told Germans that “we are embarking on a new era – an era that will be good if we actively shape it”, as his government prepares to take on far-reaching economic and environmental reforms.

German Chancellor Olaf Scholz gave his first New Year's Eve address since taking office. Reuters
German Chancellor Olaf Scholz gave his first New Year's Eve address since taking office. Reuters

Finland's Prime Minister Sanna Marin said people had experienced "both light and darkness" in 2021 as vaccines pointed the way out of lockdown but the pandemic did not come to a standstill.

She said society's resilience would be put to the test as the pandemic drags into a third year, with "major risks and uncertainties" over how the crisis would develop.

"The whole government and I will do everything in our power to ensure that the bright days outnumber the dark ones," she said.

Across the world, the Omicron crisis has foiled hopes that the dark days of Covid restrictions were a thing of the past – with the head of the World Health Organisation blaming vaccine hoarding for the rise of the new strain.

Fewer than 10 per cent of people in low-income countries have been vaccinated, compared to large majorities in wealthy Europe and North America.

“Narrow nationalism” by some countries created the “ideal conditions for the emergence of the Omicron variant”, said WHO Director-General Tedros Adhanom Ghebreyesus.

Nonetheless, efforts to distribute vaccines, tests and treatments around the world mean that 2022 could be “the year we end it – but only if we do it together”, he said.

SPECS

Nissan 370z Nismo

Engine: 3.7-litre V6

Transmission: seven-speed automatic

Power: 363hp

Torque: 560Nm

Price: Dh184,500

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.”

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

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BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

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Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

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UAE currency: the story behind the money in your pockets

Chelsea 2 Burnley 3
Chelsea
 Morata (69'), Luiz (88')
Burnley Vokes (24', 43'), Ward (39')
Red cards Cahill, Fabregas (Chelsea)

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

COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENomad%20Homes%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2020%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EHelen%20Chen%2C%20Damien%20Drap%2C%20and%20Dan%20Piehler%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20and%20Europe%3Cbr%3E%3Cstrong%3EIndustry%3C%2Fstrong%3E%3A%20PropTech%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2444m%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Acrew%20Capital%2C%2001%20Advisors%2C%20HighSage%20Ventures%2C%20Abstract%20Ventures%2C%20Partech%2C%20Precursor%20Ventures%2C%20Potluck%20Ventures%2C%20Knollwood%20and%20several%20undisclosed%20hedge%20funds%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

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Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Tesalam Aleik

Abdullah Al Ruwaished

(Rotana)

The biog

Name: Abeer Al Shahi

Emirate: Sharjah – Khor Fakkan

Education: Master’s degree in special education, preparing for a PhD in philosophy.

Favourite activities: Bungee jumping

Favourite quote: “My people and I will not settle for anything less than first place” – Sheikh Mohammed bin Rashid.

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Despacito's dominance in numbers

Released: 2017

Peak chart position: No.1 in more than 47 countries, including the United States, the United Kingdom, Australia and Lebanon

Views: 5.3 billion on YouTube

Sales: With 10 million downloads in the US, Despacito became the first Latin single to receive Diamond sales certification

Streams: 1.3 billion combined audio and video by the end of 2017, making it the biggest digital hit of the year.

Awards: 17, including Record of the Year at last year’s prestigious Latin Grammy Awards, as well as five Billboard Music Awards

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

The specs

Engine: 2x201bhp AC Permanent-magnetic electric

Transmission: n/a

Power: 402bhp

Torque: 659Nm

Price estimate: Dh200,000

On sale: Q3 2022 

Updated: December 31, 2021, 12:51 PM