More than 57 million children in Pakistan have been vaccinated though a UAE polio eradication campaign
More than 57 million children in Pakistan have been vaccinated though a UAE polio eradication campaign

Europe sees sharp rise in measles: 41,000 cases and 37 deaths



The World Health Organisation (WHO) says the number of measles cases in Europe jumped sharply during the first six months of 2018 and at least 37 people have died.

The UN agency’s European office said Monday more than 41,000 measles cases were reported in the region during the first half of the year — more than in all 12-month periods so far this decade.

The previous highest annual total was 23,927 cases in 2017. A year earlier, only 5,273 cases were reported.

The agency said half — some 23,000 cases — this year occurred in Ukraine, where an insurgency backed by Russia has been fighting the government for four years in the east in a conflict that has killed more than 10,000 people.

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France, Georgia, Greece, Italy, Russia and Serbia also had more than 1,000 measles infections each so far this year.

Measles, among the world’s most contagious diseases, is a virus that’s spread in the air through coughing or sneezing. It can be prevented with a vaccine that’s been in use since the 1960s, but health officials say vaccination rates of at least 95 percent are needed to prevent epidemics.

Vaccine scepticism remains high in many parts of Europe after past immunization problems.

Measles typically begins with a high fever and also causes a rash on the face and neck. While most people who get it recover, measles is one of the leading causes of death among young children, according to the WHO.

Italy has introduced a new law requiring parents to vaccinate their children against measles and nine other childhood diseases. Romania also passed a similar bill, including hefty fines for parents who didn’t vaccinate their children.

The UN agency on Monday called for better surveillance of the disease and increased immunization rates to prevent measles from becoming endemic.

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Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
 

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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In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

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