Around 1 billion people, or a seventh of the world’s population, could be in poverty by 2030 if the response to the coronavirus pandemic is mishandled, the UN Development Programme (UNDP) has warned.
Long term effects of the pandemic could push an additional 207 million into extreme poverty, the study found.
The findings were based on a ‘High Damage scenario’ which modelled that 80 per cent of the Covid-19-induced economic crises would persist in 10 years’ time due to loss in productivity, preventing a full recovery to the growth trajectory seen before the pandemic.
“The Covid-19 pandemic is a tipping point, and the choices leaders take now could take the world in very different directions, said UNDP Administrator Achim Steiner, adding that they was still time to act to avoid such a calamity.
Investments in government services, social protection, the green economy and digitalisation would make extreme poverty less rampant, UNDP said.
Not only could such investments mitigate the global impact of the virus, but if allocated effectively, could create a better 2030 than what was projected before the pandemic broke out.
Syria, Yemen and Afghanistan, already suffering from their own conflicts, are only some of places where the coronavirus has hit hardest. A grim combination of conflict, disease and a reduction in global trade flows has caused the world’s need for aid to grow by 40 per cent, the UN said earlier this week.
“The Covid-19 crisis has plunged millions of people into poverty and sent humanitarian needs skyrocketing,” UN humanitarian chief Mark Lowcock said.
The UN will convene on Thursday to discuss how it could deliver the coronavirus vaccine to poorer nations while wealthier states such as the US, UK, France and Germany continue to place orders for the Pfizer-BioNTech, Moderna and AstraZeneca vaccines.
Developing nations like India and South Africa have been pushing for drug makers to share their intellectual property, allowing them to potentially manufacture their own vaccines.
The coronavirus pandemic has killed about 1.5 million people globally and infected more than 64 million. But the UN’s Covax plan to make vaccines available to everybody at little to no cost, remains underfunded.
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Burnley 0
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Lukaku (22', 44')
Red card: Marcus Rashford (Man United)
Man of the match: Romelu Lukaku (Manchester United)
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Company Profile:
Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
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Tuesday results:
- Singapore bt Malaysia by 29 runs
- UAE bt Oman by 13 runs
- Hong Kong bt Nepal by 3 wickets
Final:
Thursday, UAE v Hong Kong
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
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How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
The five pillars of Islam
Killing of Qassem Suleimani
Zayed Sustainability Prize
Killing of Qassem Suleimani
