Festivalgoers attend Coachella in Indio, California. Invision / AP
Festivalgoers attend Coachella in Indio, California. Invision / AP
Festivalgoers attend Coachella in Indio, California. Invision / AP
Festivalgoers attend Coachella in Indio, California. Invision / AP

What's next for the US after 1 million Covid-19 deaths?


Patrick deHahn
  • English
  • Arabic

After more than two tumultuous years, American workers are returning to the office, millions more people are boarding planes — with no US federal travel mask mandate in place — and the Coachella music festival is back.

But even as many in the US are desperate to put Covid-19 behind them, President Joe Biden announced the country's sombre milestone of one million virus deaths on Thursday and said that the pandemic is not over.

Daily cases and hospital admissions are rising yet again due to competing Omicron subvariants that are even more contagious than previous strains.

“We’ve made a choice,” Dr Maureen Miller, an infectious diseases specialist at Columbia University, told The National.

“We’re willing to deal with high levels of preventable death and likely long-term negative health impacts due to Covid infection in exchange for a sense of normality now.”

The US currently has a death rate that is higher than other countries of similar size and wealth.

At least 58 per cent of the US population has tested positive for coronavirus and about half of that amount was infected during the biggest surge of the pandemic, driven by the highly contagious Omicron variant.

The US government also estimates that 23 million Americans are dealing with lingering symptoms following infection with coronavirus — a mysterious disease called long Covid.

But the US has more tools than ever before to both detect and fight the virus, adopting national wastewater surveillance and the widespread distribution of free rapid at-home tests. Vaccines, booster doses and post-infection treatment are also available, including Pfizer's paxlovid antiviral pills.

“The US is in a much better place in the pandemic today due to the tools that have been developed and the high levels of immunity in the population,” Dr Amesh Adalja of the Johns Hopkins Centre for Health Security told The National.

There are caveats, however: at-home tests are not being recorded nationally, making it difficult to track Covid surges; both vaccination and booster uptake has been weak compared to other countries; and distribution of antivirals such as paxlovid has been slow and uneven across the country.

“The US needs to continue to keep abreast of Covid variants, ensure availability of antivirals and monoclonal antibodies and have strong situational awareness of hospital capacity concerns if they occur again,” Dr Adalja said.

Federal funding has also dried up, leading to the closure of many testing sites and ending support for uninsured people looking to get tested and vaccinated.

  • People ride a New Jersey bus after the US government announced it would no longer enforce a mask mandate on public transport. Reuters
    People ride a New Jersey bus after the US government announced it would no longer enforce a mask mandate on public transport. Reuters
  • People arrive at a New Jersey transit station after the nationwide public transport mask mandate is repealed. Reuters
    People arrive at a New Jersey transit station after the nationwide public transport mask mandate is repealed. Reuters
  • A healthcare administrator checks paperwork at a mobile Covid-19 testing centre outside Pennsylvania Station in New York City. Reuters
    A healthcare administrator checks paperwork at a mobile Covid-19 testing centre outside Pennsylvania Station in New York City. Reuters
  • A person carries a sign protesting Covid-19 vaccines in Washington. AFP
    A person carries a sign protesting Covid-19 vaccines in Washington. AFP
  • A sign urges passengers to wear masks at Logan International Airport in Boston, Massachusetts. Bloomberg
    A sign urges passengers to wear masks at Logan International Airport in Boston, Massachusetts. Bloomberg
  • Travellers wait for transport outside of the Los Angeles International Airport. AP
    Travellers wait for transport outside of the Los Angeles International Airport. AP
  • President Joe Biden receives his second Covid-19 booster shot on March 30, 2022, in Washington. AP
    President Joe Biden receives his second Covid-19 booster shot on March 30, 2022, in Washington. AP
  • A nurse registers people for second booster shots of the Covid-19 vaccine in Waterford, Michigan. Reuters
    A nurse registers people for second booster shots of the Covid-19 vaccine in Waterford, Michigan. Reuters
  • A woman gets a haircut as the indoor mask mandate is temporarily reinstated in Philadelphia, Pennsylvania. Reuters
    A woman gets a haircut as the indoor mask mandate is temporarily reinstated in Philadelphia, Pennsylvania. Reuters
  • Travellers walk to their destinations at the Los Angeles International Airport. AP
    Travellers walk to their destinations at the Los Angeles International Airport. AP
  • A nurse administers a Covid-19 booster vaccination at a clinic in San Rafael, California. AFP
    A nurse administers a Covid-19 booster vaccination at a clinic in San Rafael, California. AFP
  • A medical worker administers Covid-19 tests in Brooklyn, New York. AFP
    A medical worker administers Covid-19 tests in Brooklyn, New York. AFP
  • A Covid-19 testing site stands on a Brooklyn street corner in New York City. AFP
    A Covid-19 testing site stands on a Brooklyn street corner in New York City. AFP
  • US President Joe Biden removes his face mask before delivering remarks at the White House in Washington. Reuters
    US President Joe Biden removes his face mask before delivering remarks at the White House in Washington. Reuters

Mr Biden proposed a $22.5 billion plan that would rectify those cuts and help tackle other issues. Doctors and public health officials praised the plan but the bill is stalled in Congress.

A group of senators countered the legislation with a $10bn bill that omits international aid.

“I am very concerned about funding for the ongoing pandemic response,” Dr Syra Madad, a senior director at the New York City's Health + Hospitals, the nation's largest public healthcare system, told The National.

She was part of the city's test-and-trace system, which recently wound down operations.

The Biden administration asserted in a handout on April 27 that unfulfilled funding would result in fewer vaccines for Americans — including booster doses if they are needed later this year.

It would also mean the US cannot stockpile tests and treatments or send vaccines to countries in need.

“The US has just recently pivoted its pandemic response from reactionary to being more proactive, less 'just in time' to a bit more 'just in case' with the White House’s National Covid-19 Preparedness Plan,” Dr Madad said.

“Just in case” allows for preparation and prevention as opposed to scrambling to address surges “just in time”.

California in February announced the first state “Smarter” plan, which sets up funds, stockpiles and systems to meet future Covid-19 surges.

It was considered one of the first official approaches of treating Covid as “endemic”, something that some — including the World Health Organisation — say hasn't been achieved yet.

A disease is “endemic” when the virus is still present but is manageable either through widespread immunity or treatment.

However, such a definition may still result in a large amount of severe illness and death for the US annually.

Most estimates say 10 to 30 per cent of those infected with coronavirus could end up suffering from long Covid, adding to the number of disabled Americans as scientists race to uncover the mysteries of the illness.

The country could register between 40,000 and 300,000 Covid-19 deaths each year, a Rockefeller Foundation report said in March.

The researchers behind the report say Covid is likely to cause more deaths than the flu, which the Centres for Disease Control and Prevention (CDC) says kills between 12,000 and 52,000 each year on average.

Vaccines and timely boosters are still the best tool against severe illness and death from the highly contagious variants today, although precautions and prevention should still be a priority for some vaccinated populations.

Of the roughly 66 per cent of the US population that is fully vaccinated, CDC data show that half of that amount has received at least one booster.

Despite this, a Kaiser Family Foundation report found that vaccinated adults represented as much as 42 per cent of Covid-19 deaths in January and February this year, with most of the deaths among the elderly.

The report suggests that utilising tools and continuing some level of precaution may still be worthwhile to prevent disability from long Covid or possible death among vulnerable populations.

But if Mr Biden's plan is not funded, these “tools” would be moot if they are not available for those who need them most.

“We’re already seeing the US response: 'People, you’re on your own',” Dr Miller said.

“There is a notion that somehow personal responsibility and mass vaccination will save the day — even though it hasn’t done so yet and is unlikely to do so in the future.”

  • Italian sculptor Sergio Furnari poses for pictures in front of 'The Hero Monument' heart sculpture on October 25, 2021, in New York. AP
    Italian sculptor Sergio Furnari poses for pictures in front of 'The Hero Monument' heart sculpture on October 25, 2021, in New York. AP
  • The Washington Monument where US President Joe Biden hosts a memorial to honour those who died from Covid-19 at the Lincoln Memorial in Washington, January 19, 2021. Reuters
    The Washington Monument where US President Joe Biden hosts a memorial to honour those who died from Covid-19 at the Lincoln Memorial in Washington, January 19, 2021. Reuters
  • A woman takes selfies with her daughter in front of 'The Hero Monument' in New York. AP
    A woman takes selfies with her daughter in front of 'The Hero Monument' in New York. AP
  • Italian sculptor Sergio Furnari stands next to his car near 'The Hero Monument' sculpture in Manhattan, New York. AP
    Italian sculptor Sergio Furnari stands next to his car near 'The Hero Monument' sculpture in Manhattan, New York. AP
  • Christopher Edwards holds up a memorial to those who died from Covid-19, including his grandmother, Brenda Meadows, in Washington, May 5, 2021. AFP
    Christopher Edwards holds up a memorial to those who died from Covid-19, including his grandmother, Brenda Meadows, in Washington, May 5, 2021. AFP
  • A woman and child look at the 'Naming the Lost Memorials' at the Green-Wood Cemetery in Brooklyn, New York. Reuters
    A woman and child look at the 'Naming the Lost Memorials' at the Green-Wood Cemetery in Brooklyn, New York. Reuters
  • Faces of victims of Covid-19 are projected on to the Brooklyn Bridge on March 14, 2021, in New York. Getty Images via AFP
    Faces of victims of Covid-19 are projected on to the Brooklyn Bridge on March 14, 2021, in New York. Getty Images via AFP
  • Artist Suzanne Firstenberg's temporary art installation, 'In America: Remember' in Washington, September 17, 2021. AP
    Artist Suzanne Firstenberg's temporary art installation, 'In America: Remember' in Washington, September 17, 2021. AP
  • A cyclist rides past the 'In America: Remember' memorial. Reuters
    A cyclist rides past the 'In America: Remember' memorial. Reuters
  • One of the flags that make up the 'In America: Remember' installation. AP
    One of the flags that make up the 'In America: Remember' installation. AP
  • Visitors mourn at the 'In America: Remember' memorial. AP
    Visitors mourn at the 'In America: Remember' memorial. AP
  • The memorial with the Washington Monument in the background. AP
    The memorial with the Washington Monument in the background. AP
  • An aerial view of the memorial. AP
    An aerial view of the memorial. AP
  • A flag with a message for a loved one. AP
    A flag with a message for a loved one. AP
  • The installation consisted of more than 600,000 flags. AP
    The installation consisted of more than 600,000 flags. AP
  • A mourner visits the memorial. AP
    A mourner visits the memorial. AP
  • A visitor sits on a bench near the memorial. AP
    A visitor sits on a bench near the memorial. AP
  • Two people hug as they look at the thousands of white flags. Reuters
    Two people hug as they look at the thousands of white flags. Reuters
  • Part of artist Suzanne Firstenberg's temporary art installation. AP
    Part of artist Suzanne Firstenberg's temporary art installation. AP
  • Hundreds of Covid survivors march across the Brooklyn Bridge on Saturday, August 7, 2021, in New York. AP
    Hundreds of Covid survivors march across the Brooklyn Bridge on Saturday, August 7, 2021, in New York. AP
  • A woman holds an image of her husband as hundreds of Covid survivors gather at Cadman Plaza in Brooklyn. AP
    A woman holds an image of her husband as hundreds of Covid survivors gather at Cadman Plaza in Brooklyn. AP
  • A sign at a Covid survivors' march in New York. AP
    A sign at a Covid survivors' march in New York. AP
  • US President Joe Biden and first lady Jill Biden arrive for a memorial for victims of Covid-19 in Washington. Getty Images / AFP
    US President Joe Biden and first lady Jill Biden arrive for a memorial for victims of Covid-19 in Washington. Getty Images / AFP
  • The Washington Covid-19 Memorial. Photo: National Parks Service
    The Washington Covid-19 Memorial. Photo: National Parks Service
  • The Washington Covid-19 Memorial. Photo: National Parks Service
    The Washington Covid-19 Memorial. Photo: National Parks Service
Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

UAE squad

Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4.0-litre%2C%20flat%20six-cylinder%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3Eseven-speed%20PDK%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E510hp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E470Nm%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh634%2C200%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
FULL%20FIGHT%20CARD
%3Cp%3EFeatherweight%20Bout%3A%0D%20Abdullah%20Al%20Qahtani%20v%20Taha%20Bendaoud%0D%3Cbr%3EBantamweight%20Bout%3A%0D%20Ali%20Taleb%20v%20Nawras%20Abzakh%0D%3Cbr%3EBantamweight%20Bout%3A%0D%20Xavier%20Alaoui%20v%20Rachid%20El%20Hazoume%0D%3Cbr%3EFeatherweight%20Bout%3A%0D%20Islam%20Reda%20v%20Adam%20Meskini%0D%3Cbr%3EBantamweight%20Bout%3A%0D%20Tariq%20Ismail%20v%20Jalal%20Al%20Daaja%0D%3Cbr%3EBantamweight%20Bout%3A%0D%20Elias%20Boudegzdame%20v%20Hassan%20Mandour%0D%3Cbr%3EAmateur%20Female%20Atomweight%20Bout%3A%0D%20Hattan%20Al%20Saif%20v%20Nada%20Faheem%0D%3Cbr%3EFeatherweight%20Bout%3A%0D%20Maraoune%20Bellagouit%20v%20Motaz%20Askar%0D%3Cbr%3EFeatherweight%20Bout%3A%0D%20Ahmed%20Tarek%20v%20Abdelrahman%20Alhyasat%0D%3Cbr%3EShowcase%20Featherweight%20Bout%3A%0D%20Mido%20Mohamed%20v%20Yazeed%20Hasanain%0D%3Cbr%3EShowcase%20Flyweight%20Bout%3A%0D%20Malik%20Basahel%20v%20Harsh%20Pandya%0D%3C%2Fp%3E%0A
Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The%C2%A0specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%20Dual%20synchronous%20electric%20motors%20%20%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E646hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E830Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ETwo-speed%20auto%20(rear%20axle)%3B%20single-speed%20auto%20(front)%20%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh552%2C311%3B%20Dh660%2C408%20(as%20tested)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

The%C2%A0specs%20
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10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The five new places of worship

Church of South Indian Parish

St Andrew's Church Mussaffah branch

St Andrew's Church Al Ain branch

St John's Baptist Church, Ruwais

Church of the Virgin Mary and St Paul the Apostle, Ruwais

 

Director: Laxman Utekar

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

Rating: 1/5

Richard Jewell

Director: Clint Eastwood

Stars: Paul Walter Hauser, Sam Rockwell, Brandon Stanley

Two-and-a-half out of five stars 

A cheaper choice

Vanuatu: $130,000

Why on earth pick Vanuatu? Easy. The South Pacific country has no income tax, wealth tax, capital gains or inheritance tax. And in 2015, when it was hit by Cyclone Pam, it signed an agreement with the EU that gave it some serious passport power.

Cost: A minimum investment of $130,000 for a family of up to four, plus $25,000 in fees.

Criteria: Applicants must have a minimum net worth of $250,000. The process take six to eight weeks, after which the investor must travel to Vanuatu or Hong Kong to take the oath of allegiance. Citizenship and passport are normally provided on the same day.

Benefits:  No tax, no restrictions on dual citizenship, no requirement to visit or reside to retain a passport. Visa-free access to 129 countries.

What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

Sri Lanka's T20I squad

Thisara Perera (captain), Dilshan Munaweera, Danushka Gunathilaka, Sadeera Samarawickrama, Ashan Priyanjan, Mahela Udawatte, Dasun Shanaka, Sachith Pathirana, Vikum Sanjaya, Lahiru Gamage, Seekkuge Prasanna, Vishwa Fernando, Isuru Udana, Jeffrey Vandersay and Chathuranga de Silva.

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.”

if you go

The flights

Emirates offer flights to Buenos Aires from Dubai, via Rio De Janeiro from around Dh6,300. emirates.com

Seeing the games

Tangol sell experiences across South America and generally have good access to tickets for most of the big teams in Buenos Aires: Boca Juniors, River Plate, and Independiente. Prices from Dh550 and include pick up and drop off from your hotel in the city. tangol.com

 

Staying there

Tangol will pick up tourists from any hotel in Buenos Aires, but after the intensity of the game, the Faena makes for tranquil, upmarket accommodation. Doubles from Dh1,110. faena.com

 

How does ToTok work?

The calling app is available to download on Google Play and Apple App Store

To successfully install ToTok, users are asked to enter their phone number and then create a nickname.

The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.

Users can also invite other contacts to download ToTok to allow them to make contact through the app.

 

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COMPANY%20PROFILE
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The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

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Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

Updated: May 13, 2022, 7:23 PM