Villagers hold umbrellas and walk in the rain in Morigaon district of Assam, India, Friday, June 26, 2020. AP
Villagers hold umbrellas and walk in the rain in Morigaon district of Assam, India, Friday, June 26, 2020. AP
Villagers hold umbrellas and walk in the rain in Morigaon district of Assam, India, Friday, June 26, 2020. AP
Villagers hold umbrellas and walk in the rain in Morigaon district of Assam, India, Friday, June 26, 2020. AP

India passes 500,000 coronavirus cases


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India now has more than 500,000 confirmed coronavirus cases, according to government figures released Saturday that showed a record daily leap of 18,500 new infections.

Authorities said a total of 15,685 people had died after another 385 fatalities were added to the toll in 24 hours.

The pandemic is not expected to peak in India for several more weeks and experts say the number of cases could pass one million before the end of July.

Some state governments are considering imposing new lockdowns. A hard-hitting nationwide lockdown that started March 25 is gradually being eased because of the damage caused to the economy.

The virus has particularly hit India's densely populated cities and there are now major concerns for New Delhi which has overtaken Mumbai with nearly 80,000 cases.

The city's government has predicted it will have 500,000 infections by the end of July. It is already using railway carriages to house patients and has taken over hotels and banquet halls to relieve the pressure on hard-pressed hospitals.

The government has been criticised over a lack of testing that experts say has hidden the true number of cases in India, which now stands at 509,000.

The country is currently fourth in the world for the number of infections, behind the United States, Brazil and Russia, though it has a much lower death toll.

In a bid to boost tracing efforts, Delhi authorities have called in 33,000 health workers to screen about two million people in sealed off zones across the city of 20 million people.

But cities across the nation of 1.3 billion people are braced for a huge wave of new cases in coming weeks.

"It is likely that we're going into a state, unless we are able to reinforce a strict physical distancing mechanism or a hard lockdown, where the rate of infection will continue to increase," said Anant Bhan, a leading public health expert.

"Unlike China, where the pandemic was relatively more concentrated around Wuhan and a few other cities, India has a more diffused spread that makes it a bit more challenging for the healthcare system," he said.

Mr Bhan said India might see several peaks in coming months because the spread of the virus "is variable across the country".

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Gallery: Coronavirus cases around the world

  • People in cars line up to be tested for Covid-19 in a parking lot at Dodger Stadium, in Los Angeles, California. AFP
    People in cars line up to be tested for Covid-19 in a parking lot at Dodger Stadium, in Los Angeles, California. AFP
  • A woman wearing a face mask stands near people in cars lined up to be tested for Covid-19 as they make their way to a parking lot at Dodger Stadium amid the coronavirus pandemic in Los Angeles, California.AFP
    A woman wearing a face mask stands near people in cars lined up to be tested for Covid-19 as they make their way to a parking lot at Dodger Stadium amid the coronavirus pandemic in Los Angeles, California.AFP
  • People ride bikes and skateboards during a Black Lives Matter rally in Williamsburg, New York City. AFP
    People ride bikes and skateboards during a Black Lives Matter rally in Williamsburg, New York City. AFP
  • A worker disinfects at Constitucion Train Station during government-ordered coronavirus lockdown in Buenos Aires, Argentina. Getty Images
    A worker disinfects at Constitucion Train Station during government-ordered coronavirus lockdown in Buenos Aires, Argentina. Getty Images
  • A man watches the sunset from a park in Kansas City. AP Photo
    A man watches the sunset from a park in Kansas City. AP Photo
  • A Sri Lankan Telugu man holds his monkey performing tricks in a colony in Nachchikulama, Sri Lanka. Sri Lanka's Telugu community, whose nomadic lifestyle has increasingly clashed with the modern world, is facing another threat that could hasten its decline: the COVID-19 pandemic. AP Photo
    A Sri Lankan Telugu man holds his monkey performing tricks in a colony in Nachchikulama, Sri Lanka. Sri Lanka's Telugu community, whose nomadic lifestyle has increasingly clashed with the modern world, is facing another threat that could hasten its decline: the COVID-19 pandemic. AP Photo
  • A person takes a photo inside a restaurant on Ocean Drive in Miami Beach, Florida. AFP
    A person takes a photo inside a restaurant on Ocean Drive in Miami Beach, Florida. AFP
  • Jesus, a boy who works with his father cleaning and decorating graves, loads land on a wheelbarrow at the Xico cemetery on the outskirts of Mexico City.. Reuters
    Jesus, a boy who works with his father cleaning and decorating graves, loads land on a wheelbarrow at the Xico cemetery on the outskirts of Mexico City.. Reuters
  • Two migrants are released from a shelter that cares for vulnerable people infected with Covid-19, in the city of Tijuana, Mexico. EPA
    Two migrants are released from a shelter that cares for vulnerable people infected with Covid-19, in the city of Tijuana, Mexico. EPA
  • Women wait for a coronavirus test in Pavas, Costa Rica. EPA
    Women wait for a coronavirus test in Pavas, Costa Rica. EPA
  • A woman is discharged after surviving Covid-19, at the San Rafael Hospital, in Santa Tecla, El Salvador. Reuters
    A woman is discharged after surviving Covid-19, at the San Rafael Hospital, in Santa Tecla, El Salvador. Reuters
  • Residents pass by lanterns and neon lights promoting a restaurant in Beijing. AP Photo
    Residents pass by lanterns and neon lights promoting a restaurant in Beijing. AP Photo
  • People ride a boat on a lake in the park at Summer Palace on a public holiday, in Beijing, China. Reuters
    People ride a boat on a lake in the park at Summer Palace on a public holiday, in Beijing, China. Reuters
  • Britain's Prime Minister Boris Johnson visits Pizza Pilgrims in West India Quay, London Docklands, as the restaurant prepares to reopen on July 4. AFP
    Britain's Prime Minister Boris Johnson visits Pizza Pilgrims in West India Quay, London Docklands, as the restaurant prepares to reopen on July 4. AFP
  • Residents wait at a Covid-19 testing centre in Chennai. AFP
    Residents wait at a Covid-19 testing centre in Chennai. AFP
  • Laborers wait on a road during a lockdown in Lahore, Pakistan. EPA
    Laborers wait on a road during a lockdown in Lahore, Pakistan. EPA
  • Health officials wearing protective gear take a nasal swab sample from a young boy at a testing facility in Hyderabad, Pakistan. AFP
    Health officials wearing protective gear take a nasal swab sample from a young boy at a testing facility in Hyderabad, Pakistan. AFP
  • A girls sells flowers in downtown Bangkok, Thailand. Reuters
    A girls sells flowers in downtown Bangkok, Thailand. Reuters
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SERIE A FIXTURES

Friday Sassuolo v Torino (Kick-off 10.45pm UAE)

Saturday Atalanta v Sampdoria (5pm),

Genoa v Inter Milan (8pm),

Lazio v Bologna (10.45pm)

Sunday Cagliari v Crotone (3.30pm) 

Benevento v Napoli (6pm) 

Parma v Spezia (6pm)

 Fiorentina v Udinese (9pm)

Juventus v Hellas Verona (11.45pm)

Monday AC Milan v AS Roma (11.45pm)

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
RESULTS

Men – semi-finals

57kg – Tak Chuen Suen (MAC) beat Phuong Xuan Nguyen (VIE) 29-28; Almaz Sarsembekov (KAZ) beat Zakaria Eljamari (UAE) by points 30-27.

67kg – Mohammed Mardi (UAE) beat Huong The Nguyen (VIE) by points 30-27; Narin Wonglakhon (THA) v Mojtaba Taravati Aram (IRI) by points 29-28.

60kg – Yerkanat Ospan (KAZ) beat Amir Hosein Kaviani (IRI) 30-27; Long Doan Nguyen (VIE) beat Ibrahim Bilal (UAE) 29-28

63.5kg – Abil Galiyev (KAZ) beat Truong Cao Phat (VIE) 30-27; Nouredine Samir (UAE) beat Norapat Khundam (THA) RSC round 3.

71kg​​​​​​​ – Shaker Al Tekreeti (IRQ) beat Fawzi Baltagi (LBN) 30-27; Amine El Moatassime (UAE) beat Man Kongsib (THA) 29-28

81kg – Ilyass Hbibali (UAE) beat Alexandr Tsarikov (KAZ) 29-28; Khaled Tarraf (LBN) beat Mustafa Al Tekreeti (IRQ) 30-27

86kg​​​​​​​ – Ali Takaloo (IRI) beat Mohammed Al Qahtani (KSA) RSC round 1; Emil Umayev (KAZ) beat Ahmad Bahman (UAE) TKO round

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.”

THE BIO: Martin Van Almsick

Hometown: Cologne, Germany

Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)

Favourite dessert: Umm Ali with dark camel milk chocolate flakes

Favourite hobby: Football

Breakfast routine: a tall glass of camel milk

The chef's advice

Troy Payne, head chef at Abu Dhabi’s newest healthy eatery Sanderson’s in Al Seef Resort & Spa, says singles need to change their mindset about how they approach the supermarket.

“They feel like they can’t buy one cucumber,” he says. “But I can walk into a shop – I feed two people at home – and I’ll walk into a shop and I buy one cucumber, I’ll buy one onion.”

Mr Payne asks for the sticker to be placed directly on each item, rather than face the temptation of filling one of the two-kilogram capacity plastic bags on offer.

The chef also advises singletons not get too hung up on “organic”, particularly high-priced varieties that have been flown in from far-flung locales. Local produce is often grown sustainably, and far cheaper, he says.

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.