A global coalition of organisations is calling for $7.7 billion to help it develop and introduce diagnostics, treatments and vaccines to end the acute phase of the Covid-19 pandemic.
The Access to Covid-19 Tools Accelerator says more Covid-19 cases have been reported in the first five months of 2021 than in the whole of 2020.
This is despite high vaccination rates in some countries protecting populations from severe disease and death.
The coalition says inadequate testing and low vaccination rates are exacerbating disease transmission and overwhelming local health systems, while leaving the world vulnerable to new variants.
Many countries are experiencing new waves of infections but wealthier nations have introduced mass vaccinations, more robust testing and made treatments increasingly available.
Poorer countries are struggling to access these vital tools because of a lack of funds and supplies, says Act-Accelerator.
The coalition says that while four variants of concern dominate the epidemiology, there are fears that new and possibly more dangerous strains could emerge.
Act-Accelerator is calling for funding to make tools available to everyone, everywhere, which will benefit all countries through a more globally inclusive and co-ordinated response.
The organisation launched its $7.7bn appeal to fund the Rapid ACT-Accelerator Delta Response, which will urgently address problems with the world’s response to the pandemic.
This includes investing $2.4bn to put all low and lower-middle-income countries on track towards a tenfold increase in Covid-19 testing.
It will enhance local and global understanding of the changing disease epidemiology and emerging variants of concern.
It will also provide information on the appropriate application of public health and social measures to break chains of transmission.
The organisation plans to spend $1bn on research and development to ensure that tests, treatments and vaccines remain effective against the Delta variant and other emerging strains, and that they are accessible and affordable where they are needed.
Another $1.2bn will be spent rapidly addressing oxygen needs to treat the seriously ill and control the exponential death surges caused by Delta.
The response will use $1.4bn to help countries identify and address hurdles to effectively introducing and using all Covid-19 tools.
As supply of vaccines increases in the coming months, flexible funding will be essential to help fill delivery gaps.
Another $1.7bn will be used to provide two million essential healthcare workers with enough basic PPE to keep them safe while they care for the sick.
The funding will prevent the collapse of health systems where the workforce is already understaffed and overstretched, and prevent further spread of Covid-19.
Act-Accelerator is also looking to reserve supplies of 760 million doses of vaccine to ensure there is enough to make deliveries into 2022.
Reserving doses requires capital and on delivery these doses will cost another $3.8bn.
Dr Tedros Adhanom Ghebreyesus, Director General of the World Health Organisation, said the $7.7bn was "needed urgently to fund the ACT-Accelerator’s work to address the Delta surge and put the world on track to ending the pandemic".
“This investment is a tiny portion of the amount governments are spending to deal with Covid-19 and makes ethical, economic and epidemiological sense,” Dr Tedros said.
“If these funds aren’t made available now to stop the transmission of Delta in the most vulnerable countries, we will undoubtedly all pay the consequences later in the year.”
Profile of Foodics
Founders: Ahmad AlZaini and Mosab AlOthmani
Based: Riyadh
Sector: Software
Employees: 150
Amount raised: $8m through seed and Series A - Series B raise ongoing
Funders: Raed Advanced Investment Co, Al-Riyadh Al Walid Investment Co, 500 Falcons, SWM Investment, AlShoaibah SPV, Faith Capital, Technology Investments Co, Savour Holding, Future Resources, Derayah Custody Co.
How to invest in gold
Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.
A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).
Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.
Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”
Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”
Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”
By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.
You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.
You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners
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if you go
The flights
Air Astana flies direct from Dubai to Almaty from Dh2,440 per person return, and to Astana (via Almaty) from Dh2,930 return, both including taxes.
The hotels
Rooms at the Ritz-Carlton Almaty cost from Dh1,944 per night including taxes; and in Astana the new Ritz-Carlton Astana (www.marriott) costs from Dh1,325; alternatively, the new St Regis Astana costs from Dh1,458 per night including taxes.
When to visit
March-May and September-November
Visas
Citizens of many countries, including the UAE do not need a visa to enter Kazakhstan for up to 30 days. Contact the nearest Kazakhstan embassy or consulate.
Results
5pm: Al Maha Stables – Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Reem Baynounah, Fernando Jara (jockey), Mohamed Daggash (trainer)
5.30pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (T) 1,600m; Winner: AF Afham, Tadhg O’Shea, Ernst Oertel
6pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Ghallieah, Sebastien Martino, Jean-Claude Pecout
6.30pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Yas Xmnsor, Saif Al Balushi, Khalifa Al Neyadi
7pm: The President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m; Winner: Somoud, Adrie de Vries, Jean de Roualle
7.30pm: The President’s Cup – Listed (TB) Dh380,000 (T) 1,400m; Winner: Haqeeqy, Dane O’Neill, John Hyde.
Profile
Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari
Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.
Number of employees: Over 50
Financing stage: Series B currently being finalised
Investors: Series A - Audacia Capital
Sector of operation: Transport
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
On racial profiling at airports
Sholto Byrnes on Myanmar politics
UAE currency: the story behind the money in your pockets
Company profile
Name: Dukkantek
Started: January 2021
Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani
Based: UAE
Number of employees: 140
Sector: B2B Vertical SaaS(software as a service)
Investment: $5.2 million
Funding stage: Seed round
Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office
SPECS
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Teams
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan
Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
Timeline October 25: Around 120 players to be entered into a draft, to be held in Dubai; December 21: Matches start; December 24: Finals