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This may forestall you from turning into extra pessimistic yearly

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Illustration for article titled How To Avoid Getting More Pessimistic Every YearPhoto: Patpitchaya (Shutterstock)

Pessimism gets a bad rap, but in reality the negative outlook can serve some important functions. This includes everything from helps us deal with angerto start a new relationship with realistic expectationsto set us up reach our goals. And according to performance experts Steven Kotler-Author of The art of the impossible and founder and managing director of Flow Research Collective– As we get older, we become more pessimistic.

In a recent discussion on the Mindbodygreen PodcastKotler explains why this isn’t always bad, noting that our increasing pessimism as we age is more of a gradual shift from a “goal mindset” to a “fear mindset”.

“Everything we see and encounter is really shaped by two things: our fears or our goals,” he said says in the podcast. Here’s why this happens and how we can control our age-related pessimism.

Illustration for article titled How To Avoid Getting More Pessimistic Every Year

Why do we become more pessimistic as we age?

There’s a reason most people move from a goal mindset to a fear mindset. Kotler explains. This is because as we age, the stakes increase for any decision we have to make – be it because we have to consider a partner, family commitments, or a career. As a result, safety can be more important than setting or achieving goals.

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There is Research to support thisThis shows that older adults are more risk averse than younger ones. That’s not a bad thing, of course, and Kotler notes that it makes sense because “the things that are important to you start to grow.” However, this isn’t the only result of mounting pessimism as you age: it can also lead you to a point where fear of failure will make you stop fully achieving life goals.

How to keep our pessimism in check as we get older

While it makes sense to make decisions based on the perceived, potential, or actual risk of something, Kotler sees this as a problem when it comes to a point where we no longer set goals at all. This can happen when someone reaches some or all of arbitrary social milestones, such as getting married, having a family, buying a house, and so on. Here is as Kotler puts it::

“We hit our early thresholds and stopped setting goals. As a result, the system is, “Well, when you run out of goals, I want to protect you and help you survive.”

Illustration for article titled How To Avoid Getting More Pessimistic Every Year

Fortunately, there is a way around this: keep setting yourself long-term goals. Setting daily goals is a good idea, but to get a grip on that particular aspect of pessimism, Kotler says that make concrete and specific plans To help you achieve a realistic long-term goal, you can balance your need with security and ambition.

The 10 greatest gives of January 18, 2021

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The best deals of the dayThe best deals of the dayThe best offers from the Internet, updated daily.

The best deals for Monday | Kinja offers

It’s January 18th and we at Kinja Deals are here to bring you the 10 best deals of the day. In the words of Justin Bieber, love you this long weekend with the Angel Triple Tease. Enter a different kind of dystopia with Cyberpunk 2077 for PS4. And live your clean beauty life with 40% discount Pacifica skin care products.

If you’re still looking for more deals, take a look The best deals for Monday all in all.

Look, we should all stay home and stay there for the next few weeks. You know, I know – and Best Buy knows too. These 55 inch TCL LED 4K Smart Android TV is only $320 so that you can snuggle up to the couch with all your favorite shows, films or the console of your choice for less money.

Since it’s a smart TV, it has built-in access to Netflix and Hulu, as well as all of the other popular streaming options. Grab it while it’s $ 80 off!

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G / O Media can receive a commission

This deal was originally published by Elizabeth Lanier.

We all knew that day was coming. Since Cyberpunk 2077 launched just under a month ago, it seemed pretty clear that a price drop was imminent. A wave of bad press really hurt the game’s word of mouth, despite the fact that it reportedly sold over 13 million units.

Whether or not this is directly related to the overall fallout, you can activate Cyberpunk 2077 now Playstation 4 or Xbox One for $ 30 via the best buy offer of the day. You will also receive a free steelbook case of your choice with the game. Amazon also adjusted the price on PS4 and Xbox Onebut not included the bonus steelbook case.

Illustration for article titled The 10 Best Deals of January 18, 2021

Be warned that the game on consoles has often been criticized for poor performance, especially if you have the original base PS4 or Xbox One hardware (instead of the PS4 Pro or Xbox One X).

CD Projekt Red has announced a roadmap with patches and fixes This will be rolled out in the coming months, and you’ll also get access to the respective next generation upgrade for PS5 or Xbox Series X / S as soon as it releases later this year. However, there is no guarantee of any quality of service. So get in at your own risk.

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This deal was originally published by Giovanni Colantonio.

Looking for a fantastic new game for your Switch? Some of the best first-party games from Nintendo are currently marked with gems The Legend of Zelda: Breath of the Wild, Super Mario Odyssey, and Super Mario Maker 2 at Amazon only $ 40 each.

You can also get stuck Luigi’s villa 3 $ 45 each on Amazon or Paper Mario: The Origami King for $ 45 at Best Buy. You can’t go wrong with all of these things. So when it is high time to embark on a new adventure, these great bargains can be found!

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G / O Media can receive a commission

$ 40

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This deal was originally published by Giovanni Colantonio.

If your PlayStation Plus account is dry or about to run out, we’ve got a lot for you. I mean you can add an extra one 24 months PS Plus with this Eneba deal If all you want to do is plan ahead, regardless of your current balance, you can do so between your account and your PlayStation Store wallet.

To get two years of PlayStation Plus For only $ 56 When you add two 12 month digital keys to your account along with the voucher code 56ISLESSTHAN120 at checkout.

In addition to the online game features PlayStation Plus members receive free titles every month. In January, you can play Shadow of the Tomb Raider and Greedfall on PS4 and Maneater on PS5. Do not miss! Start this offer or renew it while it is valid.

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This deal was originally published by Elizabeth Lanier.

Add extra security to your home Solar powered entrance alarm System. Normally $ 60, this set is now available at half price and includes a bright LED light that is motion activated from up to 20 feet away and powered by solar panels above. The receiver will also notify you so you can know when someone or a vehicle is approaching your home.

Add the promo code to get 50% discount 5044LXKF at checkout to bring it down to just $ 30. This code is only valid until 01/25/21, so don’t wait too long!

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$ 9

This deal was originally published by Elizabeth Lanier.

Teas the season! If you’re like me, you’ll live off tea from now until spring. The kettle is the only way to have an authentic slurp experience, be it an afternoon brew or a morning breakfast. If you’re looking for a new one or ready to take the plunge from zapping water in the microwave, this is it Cuisinart Electric QuicKettle is for you.

Simplicity is key when it comes to your kettle and it’s easy to use with the touch of a button. It also stays warm for up to four hours, which is really lovely during these cool months. But don’t worry, it has an auto shutoff and is wireless for your convenience. This kettle has a capacity of 17 ounces, so not only your tea, coffee, ramen, oatmeal and whatever your thirsty / hungry heart desires will benefit from it. The Cool Touch technology ensures that no one is burned, no matter how hot it gets inside. It’s 100% BPA free and easy to clean. This kettle is durable and comes with a 3 year guarantee.

If you’ve already read some of our articles on MorningSave and you like what you’ve seen, they offer a $ 5 monthly fee to ship all of your orders for free, no matter how many. Otherwise it’s a flat rate of $ 8.

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This deal was originally published by Sheilah Villari.

In the cold and dry weather conditions, your lips could use some nourishment. Korean beauty brand Nooni has a few varieties of lip oil for sale at Amazon, who will surely reverse this situation.

The A.pplemint and the Applecoco Sort have clippable coupons below the price. Clip them to get that Applemint moisturizing and plump lip oil for just $ 8 and the Applecoco glowing and smoothing lip oil to the $ 9. The Appleberry is also available for $ 12.

These Nooni lip oils are vegan, cruelty, parabens, and mineral oil free so you can shop safely. Grab one while they’re off!

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This deal was originally published by Elizabeth Lanier.

Angel Triple Tease |  $ 68 |  Honey Play Box |  Use the caption code ANGEL25ageAngel Triple Tease | $ 68 | Honey Play Box | Use code ANGEL25Graphic: Sheilah Villari

Our friends at Honey Play Box want to greet the New Year with a new toy. your Angel Triple Tease is here and ready to swing with you in 2021. To celebrate his arrival, you will now receive a 25% discount with the code ANGEL25.

As mentioned in the name, Angel is a triple threat toy. I think it’s a really nice upgrade for the company anniversary. The angel fits better and offers more strength all around. The tongue massager has been redesigned and hits your point perfectly. The shaft shape is made to tap quickly or slowly right where you need it. The motors are all independent of each other so you can adjust them to the level and pattern you want. As always, this is made of body-safe silicone, is waterproof and is charged via USB.

Free shipping on all orders over $ 69.

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This deal was originally published by Sheilah Villari.

I received a discovery kit with items from Pacifica skin care A few weeks ago and oh my god, they quickly made their way to the top of my favorite products. If you’re not familiar or curious about the natural cosmetics company, this is today’s daily remedy. Ulta is currently running a purchase that will give you 40% off the sale.

Aside from the beautiful packaging, everything Pacifica does is 100% vegan and cruelty free. One of my top products right now is this Clean Shot niacinamide, zinc and hemp complex Serum. If you suffer from an oily complexion or T-zone this is a miracle. This was a dream when my forehead got a little fussy and very shiny. There’s lemongrass too, so it smells very slightly, but it absolutely rebalances your skin. Use a few drops in the morning or evening before your usual routine. You will tell the difference pretty quickly.

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I actually used that Sea Foam Face Wash as my main makeup remover. First of all, it smells amazing. It lathers up and cleanses my skin really deeply without leaving it super dry. It works perfectly with all complexions. Your face will immediately feel fresh and ready for serums or creams.

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Free shipping on all orders over $ 35.

This deal was originally published by Sheilah Villari.

These Crossbody sling made of synthetic leather If you add a coupon code, you will get an additional 50% discount VWQZDVAX at checkout. This backpack is specially designed to hold a power bank and devices, as you can charge any device by running your charging cable through the slots on the side.

You can also feed headphones through the top fill hole and listen to your music or podcasts while your phone is securely stowed away.

So what are you waiting for? You can easily charge on the go $ 17 If you grab that noose while the promo is still working!

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$ 34

This deal was originally published by Elizabeth Lanier.

Armie Hammer apologizes to Miss Cayman after the Instagram video leaked

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Armie Hammer apologizes after a video leaked from his private Instagram.

In an audio statement released for the Cayman Compass on Sunday, January 17, the social network actor said he was sorry he mistakenly described an unnamed woman in a video leaked by The Daily Mail ” Miss Cayman “.

He told the Cayman Islands newspaper, “I want to make it clear that the person in my video who was stolen from my private Instagram is not Miss Cayman. I’m really sorry for any confusion my stupid attempt at humor has caused could.”

He added, “My deepest condolences go to Miss Cayman, who I do not know, and to the entire organization, as I had no intention of implying that she was, in fact, Miss Cayman.”

In the clip, the brunette is wearing black lingerie and is resting on all fours on the actor’s hotel bed, her bottom looking red. He titled the video shared on his private Instagram: “Well … my ex-wife (for a very good reason) refuses to go back to America with my kids. So I have to go back to Cayman … which sucks. Except there’s a few silver linings. Like King Cayman again while I’m down there. “

First Shanghai-made crossovers delivered in China

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Elon Musk, CEO of Tesla, speaks at an opening ceremony for the Tesla China-made Model Y program in Shanghai on Jan. 7.

Aly Song | Reuters

Tesla has reportedly started supplying locally produced Model Y crossovers in China. This is another milestone for the electric car manufacturer in the world’s largest vehicle market.

According to the state news agency Xinhua, shipments of the crossover made in China began on Monday. It is unclear how many Model Y vehicles were delivered or whether they were delivered to employees or retail customers. Tesla didn’t immediately respond to a comment.

China – the world’s largest market for electric vehicles – is critical to Tesla and its growth plans. The company plans to increase its vehicle sales from around 500,000 in 2020 to 20 million per year over the next ten years.

China was a driving force behind Tesla’s 2020 delivery volume – the company shipped 499,550 vehicles. This corresponds to an impressive increase of 36% over the previous year, but is slightly below the most recent forecast of 500,000 vehicles.

The company began production of the Tesla Model 3 sedan in its Gigafactory in Shanghai, China – the first plant outside the United States – in late 2019. Shipments of the Model 3 to Chinese customers began a little over a year ago. Since then, Tesla CEO Elon Musk has become the richest person in the world thanks to a massive 700% surge in the company’s shares.

Tesla built its $ 2 billion plant in Shanghai in just under a year, a quick time frame for the global auto industry. Automakers are building local vehicle production to reduce shipping costs and avoid import duties or delays, especially in China.

Correction: Tesla has imported vehicles such as the Model X and Model S into China from its California facility. A previous version of this article incorrectly stated which models were imported into China.

New York Governor Cuomo asks to purchase direct from Pfizer

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New York Governor Andrew Cuomo speaks out on Coronavirus Disease (COVID-19) on November 15, 2020 at Riverside Church in Manhattan, New York City, United States.

Andrew Kelly | Reuters

New York Governor Andrew Cuomo asked Pfizer CEO Albert Bourla Monday about the option of purchasing Covid-19 vaccine doses direct from the company. However, a statement from the company said the Department of Health and Human Services must first approve such a model.

The request comes after an alarmingly slow start to national vaccine rollout, with the country falling millions of injections short of original Trump administration projections. By January 15, the US had distributed more than 31 million doses and administered just over 12 million. Health officials had hoped to inject 20 million Americans by the end of 2020.

Cuomo, a Democrat, accused the Trump administration of not sending enough doses of vaccine to his state. This week, he said, New York would receive 250,000 doses – 50,000 fewer than the week before.

In his letter to Bourla, Cuomo suggested that Pfizer should be able to sell directly to his state, bypassing federal agencies, as Pfizer “is not bound by any commitments Moderna made under Operation Warp Speed” .

“The company’s decision to end Operation Warp Speed, which is being redesigned by the Biden Administration, puts it in a unique position that could help save lives here in New York,” Cuomo wrote.

Pfizer said the model would first need to be approved for emergency drug use under the Food and Drug Administration’s approval.

The company said in a statement it was “open to working with HHS on a distribution model that would get as many Americans as possible access to our vaccine as quickly as possible. However, before we could sell directly to state governments, HHS would need to approve it . ” this proposal is based on the EEA granted to Pfizer by the FDA. “

Representatives from HHS did not immediately respond to a request for comment.

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WATCH: How Coronavirus Vaccine Works, and Why Americans Should Trust It

Cellular Cash, bKash Associate with Ripple

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In today’s top payment news around the world, Mobile Money and bKash have teamed up with Ripple while Ant Group is reportedly working fast to revamp its operations to comply with government regulations. In addition, MercadoLibre sold $ 1.1 billion in bonds to expand its fleet of electrically powered delivery vehicles.

Malaysia’s mobile money, Bangladesh’s bKash team with Ripple On eWallet transfers

Ripple, the blockchain-based international payment company, announced that it has signed a contract that will allow mobile money and bKash to process transactions over the RippleNet network. “BKash and MobileMoney will gain access to a wide variety of features from RippleNet, including wallet-to-wallet transactions,” Ripple said in a statement unveiling the agreement.

Revision of the Ant Group to the satisfaction of the Chinese regulatory authorities

According to reports, Jack Ma’s Ant Group is expediently working to revise operations to comply with government regulations. Ant, which was spun off from Alibaba in 2014, was ready to list on the Hong Kong and Shanghai stock exchanges in November until regulators stepped in and abruptly pulled the plug. The company has now set up a task force to deal with the issues identified by regulators, an official from People’s Bank of China said according to reports.

MercadoLibre Expands Electric Fleet After $ 1.1 Billion Bond Sale

MercadoLibre, the Latin American online retail company, sold $ 1.1 billion in bonds to expand its collection of electric delivery vehicles. “We are seeing positive results and the adoption of electric vehicles in our network should intensify in the future,” said Andre Chaves, senior vice president of MercadoLibre, in a published report.

Over $ 7 billion worth of Deliveroo ahead of a possible IPO

Deliveroo, the UK delivery company, announced in an announcement that it had made $ 180 million in new investments, bringing its valuation to $ 7 billion. The investment will enable the company to “continue to invest in developing the best of business for consumers, drivers and restaurants,” said an announcement. The new funding comes from Fidelity Management & Research of Boston and Durable Capital Partners of Maryland.

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WATCH LIVE: MONDAY, JANUARY 18, 2021 AT 12:00 PM (EST)

Over: From the online betting industry, where physical location is regulated by law at the time of use, to banks that adhere to stringent international KYC (Know Your Customer) regulations, geolocation services are proving to be a powerful weapon against fraudsters. Oddly, however, recent PYMNTS research shows that consumers are more willing to share location data with grocery ordering apps than with their own bank’s mobile app. Join the discussion as Karen Webster, CEO of PYMNTS, and geospatial experts discuss the revolution in the use of geolocation data and why banks need to participate.

Get $ 500 for consuming pizza and binge-watch Netflix reveals

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Illustration for article titled Get Both $ 500 for Eat Pizza and Binge-Watch Netflix ShowsPhoto: Jesse33 (Shutterstock)

Some people decided to use their extra time at home during the pandemic to brush up on skills that might make them more enticing to a potential employer. Others may have devoted their time to eating and watching TV. In either case, you may be interested in and highly qualified in the latest “Dream Job” competition $ 500 for eating pizza and watching Netflix shows. Here’s what to know.

Illustration for article titled Get Both $ 500 for Eat Pizza and Binge-Watch Netflix Shows

What the role entails

The successful candidate will receive a free Netflix account, a budget for delivery of pizza and snacks, and a $ 500 paycheck. The position requires staying home to eat and then rate take-away pizza and watch and then rate three original Netflix shows from the list below::

  • The Queens Gambit
  • Bridgerton
  • lupine
  • Bling Empire
  • Night Stalker: The Hunt for a Serial Killer
  • Cobra Kai
  • Survive death
  • Ozark
  • Virgin River
  • The Umbrella Academy
  • Ratchet
  • Under deck
  • Other (unlisted series you want to see)

Then you need to review the shows based on their following criteria:

  • Stories and storylines
  • Eligibility for “Netflix and Chill”
  • Acting quality and cheesiness
  • Satisfaction of the consequences and the end of the series

They also rate the pizza based on the following criteria:

  • Appearance and color
  • Basic structure and taste
  • Quality, taste and cheese quality of the ingredients
  • Price-performance ratio

Illustration for article titled Get Both $ 500 for Eat Pizza and Binge-Watch Netflix Shows

How to enter

You must be a resident of the United States or Canada and be at least 21 years old to participate in the competition. Then Fill out this registration form, including the section on why you are the right person for the role. (But the winner will also be chosen at random, so you don’t have to spend too much time on it.) The closing date for entries is Friday, February 12, 2021 at 11:59 PM EST. The winner will be announced on February 17th.

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The fine print

Just so you are aware: by entering this contest, you are opting for this promotion and agreeing to be bound by it these general terms and conditions. You also accept that Finder Media may use your data and pictures for promotional activities if you win. Good luck!

Solely as we speak: 50% low cost on Mario Badescu, Lancome & Extra at Ulta!

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We independently selected these offers and products because we love them and we hope you do too, and we believe you might like them at these prices. E! has affiliate relationships, so we may receive a commission if you buy something through our links. Items are sold by the retailer, not E !.

When you need a new skin regimen to achieve the glowing skin of your dreams, Ulta have you covered! Enjoy incredible savings at the Ulta Love Your Skin Event through January 23rd. Every day the beauty retailer has new deals on popular skin care brands like Dermalogica, First Aid Beauty, Ursa Major, PMD and more!

Today’s offers? Enjoy 50% off selected products from Mario Badescu, Lancôme, Sand & Sky and Skyn ​​Island!

Keep scrolling to save a lot of skin care on Ulta.

The UAE is effectively on its method to vaccinating half of its inhabitants by the tip of March

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DUBAI, United Arab Emirates – The United Arab Emirates are on the way to vaccinate half of its population against the coronavirus before a deadline it set itself in late March, according to the country’s health authorities.

The little desert sheikh of 10 million began delivering its vaccination campaign to the public late last year after making China’s Sinopharm vaccine available to frontline health workers and government officials in September. In terms of vaccination rates, the UAE’s national program is the second highest in the world after Israel.

More than 1.8 million people have already received the Sinopharm vaccine, which is available to all citizens and residents free of charge. That is more than four times the vaccination rate per capita in the US. The Pfizer BioNTech vaccine developed in the USA and Germany is launched in Dubai. He is currently in the first phase, which is reserved for people over the age of 60, existing health conditions and frontline workers.

A health worker shows a dose of the Chinese vaccine Sinopharm Covid-19 in a vaccination center in the Jordanian capital Amman on January 13, 2021.

Khalil Mazraawi | AFP | Getty Images

Both vaccines require two shocks 28 days apart, and 28 days after receiving the second shot, patients are no longer required to be quarantined but are required to continue wearing masks and practicing social distancing, as the country’s national emergency crisis and disaster management agency does did said

And while taking the vaccine is optional, it is highly recommended, according to NCEMA. Government employees in Abu Dhabi who choose not to take any of the vaccines are required to do a PCR test every two weeks.

“We are very pleased with the progress we have made,” UAE deputy minister for culture and public diplomacy Omar Ghobash told CNBC’s Hadley Gamble on Sunday. “Of course there are people who still get sick and sadly die, but overall we think we’ve managed to strike a balance between health and safety on the one hand and economic viability on the other.”

Sinopharm developers say the vaccine is 86% effective while the Pfizer / BioNTech vaccine is 95% effective, although some health professionals have expressed skepticism about the Chinese-made vaccine as there is no published data on its development and its Studies are available. In November, UAE leaders including the ruler of Dubai Sheikh Mohammed bin Rashid al Maktoum tweeted pictures of themselves receiving the Sinopharm shot.

The vaccinations progress below the peaks in some cases

Since late December, cases in Gulf Land have risen in less than three weeks as tourists flocked to Dubai’s fully open beaches, restaurants and shopping malls. Although visitors may require a negative PCR test result before boarding or upon arrival, many suspect that a transmissible strain of virus, first identified in the UK, is at least partly to blame for the large number of British tourists staying in the emirate on vacation.

The spike in cases – now averaging more than 3,000 a day compared to around 1,000 a day in late December – led the UK to remove the UAE from its “safe travel corridor” despite UK travelers being excluded from many countries for fear of the new strain of the virus . The UAE had successfully kept their case numbers below 2,000 per day for all of 2020.

The UAE has recorded 256,732 confirmed cases of the coronavirus and 751 deaths, according to Johns Hopkins University. A record number of 3,453 cases was recorded on Sunday.

Women sunbathers sit on a beach in the Gulf emirate of Dubai on July 24, 2020, while the Burj al-Arab Hotel can be seen behind it. After a painful four-month hiatus in tourism that ended in early July, Dubai is paying off as a safe travel destination with the resources to ward off coronaviruses.

KARIM SAHIB | AFP via Getty Images

Still, it seems that the party city and regional trade capital Dubai will continue their vaccination campaign, at least for the time being, while keeping their tourism-dependent economy open.

The neighboring oil-rich capital Abu Dhabi was now much more conservative and required a series of negative PCR test results over a period of several days for anyone wishing to enter the emirate – including from other emirates in the country.

In Dubai, the wearing of masks is still required in all public places, with the exception of activities such as eating or doing strenuous exercise. The authorities remind residents of social distance. The emirate’s openness, which has gradually increased since the summer, was due to one of the strictest lockdowns in the world in March and April.

Until the New Year, the Dubai government allowed residents to hold gatherings of up to 30 people in their homes. Hotels that were once almost empty now have an occupancy rate of over 70% as tourists flee their own countries for reasons of normalcy and warm weather.

“You balance personal responsibility with an economy that needs to move forward,” Ghobash said of the country.

“Vaccinate the largest percentage of society possible” is the country’s goal, NCEMA tweeted earlier this month, to “gain access to vaccine-acquired immunity that will help reduce the number of cases and control the disease” .

Publication of GDP for the fourth quarter of full yr 2020

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Employees working on a dry-type transformer production line at a power generation factory in Haian, east China’s Jiangsu Province, Jan. 4, 2021.

Stringer | AFP | Getty Images

BEIJING – China reported Monday that its economy grew 2.3% over the past year as the world battled to contain the coronavirus pandemic.

Gross domestic product rose 6.5% year over year in the fourth quarter, official data from the National Bureau of Statistics showed. These numbers exceeded analysts’ expectations.

However, Chinese consumers continued to be reluctant to spend as retail sales fell 3.9% over the year. Retail sales increased 4.6% year over year in the fourth quarter.

The online sales of consumer goods rose relatively quickly by 14.8% in the past year, the statistics office announced, but the share of total retail sales remained relatively constant at around a quarter.

Economists expected China to be the only major economy to have grown over the past year and forecast GDP growth of just over 2% in 2020. The people surveyed by Reuters expected economic growth of 6.1% for the fourth quarter, which is faster growth than in the previous quarter of 4.9%.

The Chinese authorities have tried to increase the economy’s reliance on domestic demand rather than more traditional growth drivers like investment.

For 2020, consumption accounted for 54.3% of GDP, Ning Jizhe, commissioner of the National Bureau of Statistics, told reporters on Friday. That’s less than 57.8% of GDP originally reported for 2019.

Bruce Pang, head of macro and strategy research at China Renaissance, predicts retail sales will pick up in 2021, rising by more than 10% from the subdued level of the previous year, also because consumers are spending excessive savings from 2020 onwards.

Effects of Covid-19

Covid-19 first appeared in the Chinese city of Wuhan at the end of 2019. To control the virus, Chinese authorities closed more than half the country and the economy contracted 6.8% in the first three months of 2020.

The coronavirus has surfaced again in parts of China this year. Hebei Province has reported an increase in Covid-19 cases since the beginning of the year.

Ning said the virus recurrence added uncertainty and attributed the decline in retail sales to coronavirus. Given China’s experience last year, he presented the latest virus cases as controllable.

While some economic indicators exceeded expectations over the past year, others were not ideal, Ning said, noting that some of China’s problems cannot be resolved in the short term.

China’s economy returned to growth in the second quarter.

In late December, the National Bureau of Statistics cut China’s official growth rate for 2019 to 6.0% from the 6.1% previously reported. The cut came mostly in manufacturing as factories dealt with new US tariffs on Chinese goods valued at billions of dollars.

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