From the Editors: No gatherings, no hugs, no handshakes

NO GATHERINGS, NO HUGS, NO HANDSHAKES: The announcement of well-defined Eid Al Adha protocols by the authorities has set the tone for responsible festivities as the UAE braces for a week-long celebration. Besides the rules that need to be followed in public places, residents have also been told to limit their home celebrations to family members who live together. As the authorities pointed out, the UAE is on the path to a sustainable recovery, having introduced a gradual return of normal activities. We must do all we can to ensure that the ultimate goal is achieved. [COMMENT by Sharmila Dhal, UAE Editor]

STICKY INFLATION TO COMPLICATE POLICY OPTIONS: Steady rise in US inflation despite the assurance from the Federal Reserve that the price increases are transitory in nature could complicate matters for central banks and governments around the world. US consumer price index (CPI) for June again beat expectations with headline and core prices surging by 0.9 per cent month on month each to yield inflation rates of 5.4 per cent year on year and 4.5 per cent respectively. The Fed's main monetary policy tools revolves around interest rates and liquidity. With the rising prices and inflation expectations, there could be an early scale back in its $120 billion a month in bond purchases, that could have widespread consequences for both cost and availability of funds across the world, adversely affecting the nascent post-COVID economic recovery. [COMMENT by Babu Das Augustine, Banking Editor]

INDIANS MUST TAKE COVID-19 WARNINGS SERIOUSLY: India’s Prime Minister Narendra Modi has warned against overcrowding at tourist sites and called for faster vaccinations. The Indian Medical Association has said it feared gathering of tourists and pilgrims could become super spreader events. The Ministry of Health and Family Welfare said Indians are taking warnings about the third wave casually and treating them like weather updates. The government last month launched a campaign to inoculate all adults, with a target of 950 million people by year-end, but the pace of the drive has faltered because of shortages of vaccines and various logistical and legal hurdles, and only 8% of the target is inoculated. Delhi closed 500 vaccination centres on Tuesday because of the shortage of jabs. Despite warnings people are crowding hill stations in blatant violation of safety norms. People should not get complacent and must follow self-discipline which can only save India from another wave of COVID-19. [Stephen N.R., Senior Asociate Editor]

IN TOKYO OLYMPICS, SIMONE BILES HAS ONLY HERSELF TO BEAT: Simone Biles, the diva of world gymnastics, heads into Tokyo Olympics bidding to crown the greatest gymnastics career in history with only herself to beat. The 24-year-old is poised to become the first woman in more than 50 years to retain the all-around title, and could well end up equalling Soviet gymnast Larisa Latynina’s record of nine Olympic gold medals. Ponder this, the US superstar has not lost an all-around competition since 2013, an eight-year era of domination that has seen 19 world championship gold and four Olympic golds. [COMMENT by by Gautam Bhattacharyya, Senior Associate Editor]

EMMYS RIDE ON THE DIGITAL WAVE: If there’s one thing this year’s Emmy nominations have clearly defined then it’s the indisputable fact that streaming platforms are ruling the airwaves. The 73rd Emmy Awards saw HBO, aided by its year-old streaming service, HBO Max, take the lead with 130 nominations. Netflix was a close second with 129 nominations, followed by Disney+, which picked up 71 nominations in just its second year of existence. ‘The Crown’ earned 24 of the noms from the Netflix haul, while ‘The Mandalorian’ gave an equal share to Disney+. The platform’s Marvel series ‘WandaVision’ also earned 23 nominations. With the pandemic forcing many to turn to streaming platforms as their only source of entertainment this past year, digital is riding this wave of success.