Mandatory checking of the Al Hosn app by security at every entrance of the Khalidiyah Mall in Abu Dhabi.  Khushnum Bhandari / The National

UAE to hold special Covid-19 briefing today



The UAE government will hold a special Covid-19 media briefing on Monday afternoon.

The National Emergency Crisis and Disasters Management Authority said today's broadcast would contain Covid-19 updates without elaborating further.

Such briefings have taken place regularly during the pandemic — at first weekly before being reduced to fortnightly — to provide vital information to the public on the country's fight against the virus. The briefings have included announcements of new safety measures.

What time is the Covid briefing?

The briefing will be held at 5.30pm on Monday, September 26.

The Ncema stopped holding the briefings in May, saying they would be "reinstated only if exceptional developments arise regarding the pandemic in the country".

When was the last Covid briefing?

Special broadcasts were previously held in July and August to set out safety rules for the Eid Al Adha break and the return of thousands of pupils to schools for the new academic year.

The briefings have typically been broadcast on the Dubai One television station as well as government social media channels.

How many Covid cases have been recorded in the UAE?

Daily Covid-19 cases have dropped significantly following a spike in infection rates in June and July.

Sunday's total of 355 new cases was the lowest recorded in four months.

Case numbers have remained below 500 since August 31.

What are the Covid rules in the UAE?

Authorities have gradually relaxed Covid-19 restrictions in recent months.

In February, the UAE lifted requirements to wear face coverings in outdoor places. Meanwhile, motorists travelling to Abu Dhabi from other emirates no longer need to show their green pass status on Al Hosn app.

Nearly 615 million Covid-19 cases have been confirmed across the world since the virus emerged in late 2019, with more than 6.5 million deaths.

The World Health Organisation declared the outbreak a pandemic in March 2020.

But the global health body believes there is cause for optimism in the world’s fight against the virus.

“We are not there yet. But the end is in sight,” WHO Director General Dr Tedros Adhanom Ghebreyesus said last week.

Comprehensive vaccination drives have helped to stem the spread of the virus, slowing death rates and reducing hospital admissions.

President Joe Biden has declared the pandemic over in the US, although coronavirus-related deaths in the country continue to rise.

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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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Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

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Updated: June 07, 2023, 10:45 AM