A health worker holds up a vial of the UAE-made 'Hayat-Vax' Covid-19 vaccine, a locally-produced version of China's Sinopharm vaccine, at a vaccination centre in Iran's capital Tehran. AFP
A health worker holds up a vial of the UAE-made 'Hayat-Vax' Covid-19 vaccine, a locally-produced version of China's Sinopharm vaccine, at a vaccination centre in Iran's capital Tehran. AFP
A health worker holds up a vial of the UAE-made 'Hayat-Vax' Covid-19 vaccine, a locally-produced version of China's Sinopharm vaccine, at a vaccination centre in Iran's capital Tehran. AFP
A health worker holds up a vial of the UAE-made 'Hayat-Vax' Covid-19 vaccine, a locally-produced version of China's Sinopharm vaccine, at a vaccination centre in Iran's capital Tehran. AFP

WHO: shots such as Sinopharm and Sinovac prevent 'severe hospitalisation' from Omicron


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Live updates: follow the latest news on Covid-19 variant Omicron

Covid-19 vaccines such as Sinopharm and Sinovac will protect against "severe hospitalisation" as a result of the Omicron variant, Dr Abdi Mahamud, the World Health Organisation’s incident manager for the pandemic, said on Tuesday.

More evidence is emerging that Omicron is affecting the upper respiratory tract, causing milder symptoms than previous variants, Dr Mahamud added.

"We are seeing more and more studies pointing out that Omicron is infecting the upper part of the body. Unlike the other ones, that could cause severe pneumonia," Dr Mahamud told Geneva-based journalists, saying it could be "good news".

However, he said Omicron's high transmissibility means it will become dominant within weeks in many places, posing a threat in countries where a high portion of the population remains unvaccinated.

Asked whether an Omicron-specific vaccine was needed, he said it was too early to say but stressed that the decision required global co-ordination and should not be left to the commercial sector to decide alone.

Countries globally are battling a rapid spike in Covid-19 cases, fuelled by the Omicron variant, with schools delaying scheduled returns to classrooms, cruises suspending operations, and governments expanding vaccine mandates.

The latest statement from the WHO official comes just days after a study found Sinovac's two-dose Covid-19 vaccine followed by a booster Pfizer-BioNTech shot showed a lower immune response against the Omicron variant compared with other strains.

The study, which has not been peer-reviewed yet, was conducted by researchers from Yale University, the Dominican Republic's Ministry of Health and other institutions.

Sinovac's CoronaVac and state-owned Sinopharm's BBIBP-CorV vaccine are the two most-used vaccines in China and the leading Covid-19 shots exported by the country.

The UAE last month approved the emergency use of Sinopharm’s protein-based Covid-19 vaccine and said it will be available to the public as a booster dose from January 2022.

The vaccine will be produced and distributed by a joint venture between the UAE’s Group 42 and China National Biotec Group (CNBG), a unit of China National Pharmaceutical Group (Sinopharm).

Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

The specs: 2018 Mercedes-AMG C63 S Cabriolet

Price, base: Dh429,090

Engine 4.0-litre twin-turbo V8

Transmission Seven-speed automatic

Power 510hp @ 5,500rpm

Torque 700Nm @ 1,750rpm

Fuel economy, combined 9.2L / 100km

Abandon
Sangeeta Bandyopadhyay
Translated by Arunava Sinha
Tilted Axis Press 

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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

TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel

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  • Option 3: 30% across five years 
Scotland's team:

15-Sean Maitland, 14-Darcy Graham, 13-Nick Grigg, 12-Sam Johnson, 11-Byron McGuigan, 10-Finn Russell, 9-Ali Price, 8-Magnus Bradbury, 7-Hamish Watson, 6-Sam Skinner, 5-Grant Gilchrist, 4-Ben Toolis, 3-Willem Nel, 2-Stuart McInally (captain), 1-Allan Dell

Replacements: 16-Fraser Brown, 17-Gordon Reid, 18-Simon Berghan, 19-Jonny Gray, 20-Josh Strauss, 21-Greig Laidlaw, 22-Adam Hastings, 23-Chris Harris

RESULTS

4pm: Al Bastakiya Listed US$250,000 (Dirt) 1,900m
Winner: Yulong Warrior, Richard Mullen (jockey), Satish Seemar (trainer)

4.35pm: Mahab Al Shimaal Group 3 $200,000 (D) 1,200m
Winner: Jordan Sport, Adrie de Vries, Fawzi Nass

5.10pm: Nad Al Sheba Conditions $200,000 (Turf) 1,200m
Winner: Jungle Cat, William Buick, Charlie Appleby

5.45pm: Burj Nahaar Group 3 $200,000 (D) 1,600m
Winner: Kimbear, Patrick Dobbs, Doug Watson

6.20pm: Jebel Hatta Group 1 $300,000 (T) 1,800m
Winner: Blair House, James Doyle, Charlie Appleby

6.55pm: Al Maktoum Challenge Round-3 Group 1 $400,000 (D) 2,000m
Winner: North America, Richard Mullen, Satish Seemar

7.30pm: Dubai City of Gold Group 2 $250,000 (T) 2,410m
Winner: Hawkbill, William Buick, Charlie Appleby.

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.”

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Countries recognising Palestine

France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra

 

Last-16

France 4
Griezmann (13' pen), Pavard (57'), Mbappe (64', 68')

Argentina 3
Di Maria (41'), Mercado (48'), Aguero (90 3')

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Updated: January 05, 2022, 1:55 PM