In this July 14, 2015 photo, beachgoers wade into the waters of Copacabana Beach in Rio de Janeiro, Brazil. An Associated Press analysis of water quality found not one water venue safe for swimming or boating in Rio's waters. Over 10,000 athletes from 205 countries are expected to compete in next year's Summer Olympics. Hundreds of them will be sailing in the waters near Marina da Gloria in Guanabara Bay; swimming off Copacabana Beach; and canoeing and rowing on the brackish waters of the Rodrigo de Freitas Lake. Leo Correa / AP Photo
In this July 14, 2015 photo, beachgoers wade into the waters of Copacabana Beach in Rio de Janeiro, Brazil. An Associated Press analysis of water quality found not one water venue safe for swimming orShow more

Nothing clear with Rio de Janeiro’s water ahead of Summer Olympics



Rio de Janeiro // The waters where Olympians will compete in swimming and boating events next summer in Brazil are rife with human sewage and present a serious health risk for athletes, as well as for visitors to the beaches of Rio de Janeiro.

An Associated Press investigation found dangerously high levels of viruses and bacteria from sewage in venues where athletes will compete in the 2016 Olympic and Paralympic water sports.

In the first independent comprehensive testing for both viruses and bacteria at the Olympic sites, the AP conducted four rounds of tests starting in March. The results have alarmed competitors training in Rio, some of whom have already have fallen ill with fevers, vomiting and diarrhoea.

“This is by far the worst water quality we’ve ever seen in our sailing careers,” said Ivan Bulaja, a coach for the Austrian team, which has spent months training on the Guanabara Bay.

“I am quite sure if you swim in this water and it goes into your mouth or nose that quite a lot of bad things are coming inside your body.”

Sailor David Hussl has already fallen ill. “I’ve had high temperatures and problems with my stomach,” he said. “It’s always one day completely in bed and then usually not sailing for two or three days.”

Water pollution has long plagued Brazil’s urban areas, where most sewage is not collected, let alone treated. In Rio, much of the waste runs through open-air ditches to fetid streams and rivers that feed the Olympic water sites and blight the city’s picture postcard beaches.

Dr Richard Budgett, the medical director for the International Olympic Committee (IOC), said after seeing the findings that the IOC and Brazilian authorities should stick to their programme of testing only for bacteria to determine whether the water is safe for athletes, as that is the accepted norm globally.

“We’ve had reassurances from the World Health Organisation and others that there is no significant risk to athlete health,” he said.

Brazilian authorities pledged that a major overhaul of the city’s waterways would be among the Olympics’ most significant legacies. But the stench of raw sewage still greets travellers arriving at Rio’s international airport. Prime beaches remain deserted because the surf is thick with putrid sludge, and periodic die-offs leave the Olympic lake littered with rotting fish.

Leonardo Daemon, coordinator of water quality monitoring for the state’s environmental agency, said officials are strictly following Brazilian regulations on water quality, which are all based on bacteria levels.

“What would be the standard that should be followed for the quantity of virus? Because the presence or absence of virus in the water ... needs to have a standard, a limit,” he said. “You don’t have a standard for the quantity of virus in relation to human health when it comes to contact with water.”

Olympic hopefuls will be diving into Copacabana’s surf today during a triathlon Olympic qualifier event, while rowers take to the lake’s water beginning Wednesday for the 2015 World Rowing Junior Championships.

Test events for sailing and marathon swimming take place next month.

More than 10,000 athletes from 205 nations are expected to compete next year. Nearly 1,400 of them will be sailing in the waters near Marina da Gloria in Guanabara Bay, swimming off Copacabana beach, and canoeing and rowing on the brackish waters of the Rodrigo de Freitas Lake.

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A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.

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.

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“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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Developer: Treyarch, Raven Software
Publisher:  Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5

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