NEW YORK, NY - JUNE 02: Protesters denouncing police brutality and systemic racism march in the street in the Brooklyn borough of New York City. Days of protest, sometimes violent, have followed in many cities across the country in response to the death of George Floyd while in police custody in Minneapolis, Minnesota on May 25th. Scott Heins/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==
NEW YORK, NY - JUNE 02: Protesters denouncing police brutality and systemic racism march in the street in the Brooklyn borough of New York City. Days of protest, sometimes violent, have followed in many cities across the country in response to the death of George Floyd while in police custody in Minneapolis, Minnesota on May 25th. Scott Heins/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==
NEW YORK, NY - JUNE 02: Protesters denouncing police brutality and systemic racism march in the street in the Brooklyn borough of New York City. Days of protest, sometimes violent, have followed in many cities across the country in response to the death of George Floyd while in police custody in Minneapolis, Minnesota on May 25th. Scott Heins/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==
NEW YORK, NY - JUNE 02: Protesters denouncing police brutality and systemic racism march in the street in the Brooklyn borough of New York City. Days of protest, sometimes violent, have followed in ma

US coronavirus co-ordinator fears anti-racism protests will spread Covid-19


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Anti-racism protests that have swept the United States risk further spreading Covid-19 in US cities, the White House coronavirus co-ordinator, Deborah Birx, has said.

“I do worry, I worry terribly about the peaceful protests,” Dr Birx said in a discussion hosted by the German Marshall Fund’s Brussels Forum.

“We are really trying to work with each of the mayors to expand testing availability over the next week or two so that the people who are involved in the peaceful protests can get tested and really know their status before they unknowingly spread it,” she added.

Demonstrations in major American cities, many marred by rioting and police violence, began after the death of George Floyd, a 48-year-old black man, in police custody on May 25.

The outpouring of public anger over Floyd’s death has also coincided with the coronavirus outbreak, which has claimed more than 100,000 lives in the US.

Dr Birx, who has served as a White House public health adviser to both President Donald Trump and his predecessor, Barack Obama, said a variety of factors had aligned leading to a higher mortality rate from Covid-19 among the country’s black and minority ethnic populations.

According to the US Centres for Disease Control and Prevention (CDC), figures suggest African Americans are disproportionately affected by the virus.

In a study of data compiled from hospitals in 14 US states, African Americans represented 33 per cent of coronavirus hospitalisations, despite making up only 18 per cent of the total population studied.

The White House Covid-19 co-ordinator said minority communities’ tendency to live in densely populated cities had contributed to these trends alongside patterns for co-morbidities.

For example, health conditions such as obesity, diabetes and asthma exist at higher rates in the black community, thereby making African Americans more susceptible to the virus.

They also are more likely to lack health insurance, and often report that medical professionals take their ailments less seriously when they seek treatment.

Dr Birx said ethnic minorities had also been more exposed to the pandemic in essential jobs.

“They are the ones that kept food on our tables, they are the ones that drove the trucks. They are the ones that did the deliveries. They are the ones that went to the hospitals and went to really care for those of us who needed us the most,” she said.

“There was a large segment of the American population still working and a lot of that was in our African-American communities. So uniquely they were working more in those essential jobs.”

New Zealand 15 British & Irish Lions 15

New Zealand 15
Tries: Laumape, J Barrett
Conversions: B Barrett
Penalties: B Barrett

British & Irish Lions 15
Penalties: Farrell (4), Daly

ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

Rating: 4/5

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

WITHIN%20SAND
%3Cp%3EDirector%3A%20Moe%20Alatawi%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Ra%E2%80%99ed%20Alshammari%2C%20Adwa%20Fahd%2C%20Muhand%20Alsaleh%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
Porsche Macan T: The Specs

Engine: 2.0-litre 4-cyl turbo 

Power: 265hp from 5,000-6,500rpm 

Torque: 400Nm from 1,800-4,500rpm 

Transmission: 7-speed dual-clutch auto 

Speed: 0-100kph in 6.2sec 

Top speed: 232kph 

Fuel consumption: 10.7L/100km 

On sale: May or June 

Price: From Dh259,900  

Indian origin executives leading top technology firms

Sundar Pichai

Chief executive, Google and Alphabet

Satya Nadella

Chief executive, Microsoft

Ajaypal Singh Banga

President and chief executive, Mastercard

Shantanu Narayen

Chief executive, chairman, and president, Adobe

Indra Nooyi  

Board of directors, Amazon and former chief executive, PepsiCo

 

 

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Politics in the West
Company%C2%A0profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ELeap%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMarch%202021%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ziad%20Toqan%20and%20Jamil%20Khammu%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%3C%2Fstrong%3E%20Undisclosed%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3ESeven%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
Bundesliga fixtures

Saturday, May 16 (kick-offs UAE time)

Borussia Dortmund v Schalke (4.30pm) 

RB Leipzig v Freiburg (4.30pm) 

Hoffenheim v Hertha Berlin (4.30pm) 

Fortuna Dusseldorf v Paderborn  (4.30pm) 

Augsburg v Wolfsburg (4.30pm) 

Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)

Sunday, May 17

Cologne v Mainz (4.30pm),

Union Berlin v Bayern Munich (7pm)

Monday, May 18

Werder Bremen v Bayer Leverkusen (9.30pm)

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying