Schools in the UAE are planning for the imminent launch of a vaccination campaign for pupils aged between 12 and 15.
It follows last week's approval of the Pfizer-BioNTech vaccine for children of these ages in the UAE on an emergency basis.
Principals believe the move will reassure parents about sending their children to school.
In March and April, hundreds of pupils aged 16 and above were given the Covid-19 shot here.
We are in advanced talks with health authorities and education regulators to help in the rollout of the vaccine for pupils in our schools over the coming days.
Now efforts are turning to inoculating the lower age range in co-operation with health authorities and regulators, and some schools want to set up vaccination centres on site.
"More than 42,000 pupils are now eligible for inoculation across the Gems Education network, joining the 14,700 Gems teachers and school support staff already vaccinated," said Elmarie Venter, chief operations officer at the private company.
"We are in advanced talks with health authorities and education regulators to help in the roll-out of the vaccine for pupils in our schools over the coming days.
"As we did for pupils aged 16 and above, we intend to set up vaccination centres within a selection of our schools to make it as easy as possible for Gems pupils to receive the vaccine."
While some schools may set up their own centres, others might book appointments for children at government sites.
The UAE Ministry of Health and Prevention said on Thursday that approval was given after successful clinical trials and assessments of the Pfizer-BioNTech vaccine.
Aldar Education, Abu Dhabi’s largest school group, is trying to obtain Covid-19 vaccines for its pupils.
"We are in discussion with government agencies and health partners to see how Aldar Education can support this campaign," said Dave Taylor, group director of operations.
About 250 pupils aged 16 and above at Taaleem schools have been immunised.
Gavin Hyatt, head of operations at Taaleem, said it was exploring opportunities to drive the campaign.
Mr Hyatt said that once these agreements were in place, the schools would encourage pupils to take part.
“We have already seen significant positive changes in the schools since the introduction of staff vaccinations and for our Grade 12 pupils,” he said.
Rashmi Nandkeolyar, principal of Delhi Private School Dubai, said it was planning an inoculation initiative.
“Vaccinations will help make schools safer," Ms Nandkeolyar said.
The school encouraged pupils aged 16 and above to take an injection and many have been vaccinated.
More than 97 per cent of the 400 staff members at the school have been vaccinated.
Data on whether the Pfizer-BioNTech vaccine can be given to children aged between 5 and 11 is expected as early as this summer.
If the trials go well, young children could be vaccinated by the end of the year, BioNTech co-founder Dr Ozlem Tureci said.
Coronavirus case numbers have been dropping sharply in the UAE over the past few weeks.
The UAE on Monday reported its lowest daily number of cases this year, with 1,229 new infections.
Authorities brought in one of the world's fastest vaccination drives and used mass testing to tackle the pandemic.
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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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Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
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