Covid-19 has now killed about 730,000 people in the US, making it the deadliest pandemic in the nation's history, with more lives claimed than by HIV/Aids.
The tally comes as the US marks four decades since HIV — the virus that can cause Aids — was first detected in the country, and some are now looking at the two vastly different diseases and seeing parallels.
The US government's initial approach to both HIV/Aids and Covid was denial and indifference.
As Aids rampaged through communities in New York, San Francisco and elsewhere in the early 1980s, the administration of former president Ronald Reagan looked the other way.
Even as the disease claimed tens of thousands of American lives, Reagan slashed spending on public health agencies, and it wasn't until 1987 that he recognised the pandemic.
“I wish in the HIV response, they tried to bring all Americans along, and it wasn't just a problem that was in certain communities,” Kevin Fisher, director of policy, data and analysis for the Aids Vaccine Advocacy Coalition, told The National.
“If they brought everybody along and said this is something that we all need to figure out, then it would have been better.”
When Covid-19 first arrived in the US, then-president Donald Trump repeatedly played down its dangers, dismissing it as akin to “a regular flu” — even after he knew it was far deadlier.
They're both diseases that kind of prey on human intimacy
Kevin Fisher,
Aids Vaccine Advocacy Coalition
Both crises have disproportionately affected minority groups and poorer communities. For Covid, people of colour have often had to keep working in front-line jobs while white and wealthier people stayed home.
For HIV/Aids, homosexuals and drug-using populations were hit hardest by the disease in the early days as it was transmitted primarily through unprotected sex and intravenous drug use.
“They're both diseases that kind of prey on human intimacy”, despite differences in how they're spread, Mr Fisher said.
More than 34,000 HIV infections were registered in the US in 2019, Kaiser Family Foundation data show.
HIV-related illness ranked tenth in leading causes of deaths for people between the ages of 25 and 34, and killed a total of 486 people in this age group in 2019, the US Centres for Disease Control and Prevention said.
Exact numbers are unknown, but it is believed that at least 700,000 people in the US have died as a result of HIV/Aids.
Covid cases are dropping nationwide but the US continues to report an average of 75,000 infections and 1,250 deaths daily, the CDC said.
The US leads the world in deaths from Covid.
“That's just heartbreaking that in a year and a half of this pandemic, we've seen so many, so many lives lost and especially since having the vaccine available,” Stephen Lee, executive director of the National Alliance of State & Territorial Aids Directors, told The National.
At the same time, Mr Lee said the US government has learnt some important lessons from HIV/Aids.
In 40 years of fighting the virus, health programmes and healthcare infrastructure have expanded, helping the US better address the current pandemic.
Despite his Covid denial, Mr Trump was quick to emphasise the need for a vaccine under the Operation Warp Speed public-private partnership that has helped create and roll out several Covid vaccines and treatments on an accelerated time frame.
“Some of the rapidity of which we see and saw the development of vaccine and treatment and prevention aspects around Covid was built on some of the experience we had with HIV,” Mr Lee said.
Mr Fisher noted how the early official response to HIV/Aids stigmatised sufferers.
With Covid, anti-Asian hate crimes spiked as Mr Trump and others blamed China for the virus.
While there is currently no cure for HIV or Aids, two people have been functionally “cured”: the PrEP pill significantly lowers the risk of HIV infection for at-risk communities and several antiretroviral pills treat HIV, making it a chronic, manageable condition.
Mr Lee and Mr Fisher said another lesson learnt from HIV/Aids was prioritising community engagement.
For instance, volunteer mutual-aid groups were created in local neighbourhoods and the administration of President Joe Biden formed a White House Covid-19 Equity Task Force as part of its national pandemic response.
Many US health leaders, including Mr Biden's top medical adviser, Dr Anthony Fauci, and CDC chief Dr Rochelle Walensky, started their careers in HIV prevention and are now leading the US fight against Covid.
Mr Fisher and Mr Lee believe increased investment in public health infrastructure and future pandemic preparedness will help the world address both HIV and Covid.
“There are benefits that we can mine from the Covid response so far,” Mr Lee said.
“All the money and resources that are going into improving our public health infrastructure will have spillover effects and other aspects of communicable diseases like HIV.”
Much work remains to be done, however, including funding US plans to end the HIV/Aids health crisis by 2030, which Mr Biden said he supports.
“Remember that HIV is still there, it's still a major epidemic that we haven't got under control, and we need global commitment to try and finish the work on that,” Mr Fisher said.
SM Town Live is on Friday, April 6 at Autism Rocks Arena, Dubai. Tickets are Dh375 at www.platinumlist.net
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
Scoreline
Syria 1-1 Australia
Syria Al Somah 85'
Australia Kruse 40'
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
Signs%20of%20%20%20%20%20%20%20heat%20stroke
%3Cul%3E%0A%3Cli%3EThe%20loss%20of%20sodium%20chloride%20in%20our%20sweat%20can%20lead%20to%20confusion%20and%20an%20altered%20mental%20status%20and%20slurred%20speech%3C%2Fli%3E%0A%3Cli%3EBody%20temperature%20above%2039%C2%B0C%3C%2Fli%3E%0A%3Cli%3EHot%2C%20dry%20and%20red%20or%20damp%20skin%20can%20indicate%20heatstroke%3C%2Fli%3E%0A%3Cli%3EA%20faster%20pulse%20than%20usual%3C%2Fli%3E%0A%3Cli%3EDizziness%2C%20nausea%20and%20headaches%20are%20also%20signs%20of%20overheating%3C%2Fli%3E%0A%3Cli%3EIn%20extreme%20cases%2C%20victims%20can%20lose%20consciousness%20and%20require%20immediate%20medical%20attention%3C%2Fli%3E%0A%3C%2Ful%3E%0A
