G20 Calls for Int’l Coordination to Control Virus Outbreak

G20 Calls for Int’l Coordination to Control Virus Outbreak
TT

G20 Calls for Int’l Coordination to Control Virus Outbreak

G20 Calls for Int’l Coordination to Control Virus Outbreak

The representatives of the G20 leaders have discussed the coronavirus outbreak and its impact on people and the global economy during the second Sherpa meeting in Khobar, Saudi Arabia, this week.

“This pandemic calls for a robust international response. G20 countries will enhance cooperation and coordination to control the outbreak, protect people, mitigate the economic impact, and maintain economic stability, while avoiding stigmatization,” they said in a statement.

“The protection of human lives is of paramount importance. G20 countries support and work closely with the World Health Organization (WHO) to monitor the outbreak, share relevant information, encourage preventive measures, early case detection, and clinical care,” they said.

The conferees underscored the importance of close cooperation between international organizations, urging them to report regularly to the G20 on their actions and assessment of needs.

“We will step up support for the development of early warning systems, appropriate treatments, and vaccines. Fighting the disease at home is our primary concern,” said the statement.

The Sherpa meeting also pledged to strengthen capacity building and technical assistance between G20 states and to developing countries that have weaker health systems and more vulnerable populations.

In their recent statement, G20 Finance Ministers and Central Bank Governors agreed to use all available policy tools, including fiscal and monetary measures as appropriate.

“We invite our finance officials to continue their ongoing work with international organizations to respond to the economic impact of COVID-19,” said the Sherpa statement.

It expressed confidence that “working closely together, we will overcome the COVID-19 outbreak and its implications, safeguard human lives, and protect the global economy.”



Bahrain’s Investcorp Announces Major Changes in its Executive Team

Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)
Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)
TT

Bahrain’s Investcorp Announces Major Changes in its Executive Team

Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)
Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)

Bahrain’s Investcorp, a leading global alternative investment firm, announced on Monday a major change in its executive leadership team, saying that co-CEO Hazem Ben-Gacem will leave after 30 years as the company embarks on a major management reshuffle in an effort to boost returns.

In a statement, Investcorp said co-CEO Rishi Kapoor had been appointed vice chairman and chief investment officer while Executive Chairman Mohammed Alardhi would assume additional responsibilities previously undertaken by the co-CEOs.

The group has more than $52 billion in assets under management and is known for taking luxury brands public.

Ben-Gacem will leave Investcorp effective Nov. 1, but will continue as vice chairman of investment unit Investcorp Capital, the company said.

As part of the shake-up, Investcorp said it had consolidated and organized its investment activities in three units.

Dave Tayeh is taking the helm of Private Equity and Private Equity like, Herb Myers and Mike O'Brien will be in charge of Real Assets, and Jeremy Ghose will lead the Credit business.

Yusef Al-Yusef will be leading the Global Distribution Platform.

Mohammed Alardhi, Executive Chairman at Investcorp, said: “As we increase our focus on leveraging the strength of our existing investment platform, we recognize it is the right time to broaden our executive leadership to support our future growth plans.”

“Rishi and Hazem have helped lead our business from strength to strength in the last several years after we launched our growth journey,” he added.