The US will share technology used to make Covid-19 vaccines through the World Health Organisation and is trying to expand rapid testing and antiviral treatments for hard-to-reach people, President Joe Biden said on Thursday.
“We are making available health technologies that are owned by the United States government, including stabilised spike protein that is used in many Covid-19 vaccines,” Mr Biden said in his opening speech to an international coronavirus summit.
The summit, jointly hosted by the US, Belize, Germany, Indonesia and Senegal, was held online on Thursday for countries to discuss efforts to end the pandemic and prepare for future health threats.
It is set to build on work and commitments made at the first global summit in September, including having more people vaccinated, sending tests and treatments to highest-risk populations, increasing protection to healthcare workers, and generating financing for pandemic preparedness.
It has gathered more than $3 billion in new funding to fight the pandemic, the White House said, including more than $2bn for immediate response and $962 million in commitments to the World Bank pandemic preparedness fund.
Mr Biden said the US would provide the World Bank's future pandemic preparedness fund with a total contribution of $450m in “seed funding”.
The UAE announced a contribution of $60m, with $10m to be disbursed to the Covid-19 tools accelerator and $50m as “in kind” donations to medical supplies.
“As a current member of the UN Security Council, the UAE will continue to deepen its commitment to improve cooperation and global health,” said Reem Al Hashimy, Minister of State for International Co-operation.
The EU said it was providing €300m ($311.1m) for vaccination support, and $450m for the preparedness fund. NGOs, philanthropies and the private sector made more than $700m in new commitments.
“We've learnt a lot during this pandemic that will allow us to prevent this happening again. But we don't have time to waste,” said Bill Gates, co-founder of the Gates Foundation.
Several generic drug makers that will produce versions of Pfizer's Covid-19 antiviral treatment Paxlovid have agreed to sell the medicine in low and middle-income countries for $25 a course or less, the Clinton Health Access Initiative said on Thursday.
“This summit is an opportunity to renew our efforts, to keep our foot on the gas when it comes to getting this pandemic under control, and preventing future health crises,” Mr Biden said.
The US commitment to share 11 Covid-19 technologies with the UN-backed Medicines Patent Pool should help to improve access to vaccines, treatments and tests in lower-income countries by allowing them to work on generic versions, the WHO said.
“It's through sharing and empowering lower-income countries to manufacture their own health tools that we can ensure a healthier future for everyone,” WHO Director General Tedros Adhanom Ghebreyesus said.
Reuters contributed to this report
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 BIO:
Favourite holiday destination: Thailand. I go every year and I’m obsessed with the fitness camps there.
Favourite book: Born to Run by Christopher McDougall. It’s an amazing story about barefoot running.
Favourite film: A League of their Own. I used to love watching it in my granny’s house when I was seven.
Personal motto: Believe it and you can achieve it.
KILLING OF QASSEM SULEIMANI
Results:
2.15pm: Handicap (PA) Dh60,000 1,200m.
Winner: AZ Dhabyan, Adam McLean (jockey), Saleha Al Ghurair (trainer).
2.45pm: Maiden (PA) Dh60,000 1,200m.
Winner: Ashton Tourettes, Sam Hitchcott, Ibrahim Aseel.
3.15pm: Conditions (PA) Dh60,000 2,000m.
Winner: Hareer Al Reef, Gerald Avranche, Abdallah Al Hammadi.
3.45pm: Maiden (PA) Dh60,000 1,700m.
Winner: Kenz Al Reef, Gerald Avranche, Abdallah Al Hammadi.
4.15pm: Sheikh Ahmed bin Rashid Al Maktoum Cup (TB) Dh 200,000 1,700m.
Winner: Mystique Moon, Sam Hitchcott, Doug Watson.
4.45pm: The Crown Prince Of Sharjah Cup Prestige (PA) Dh200,000 1,200m.
Winner: ES Ajeeb, Sam Hitchcott, Ibrahim Aseel.
RESULT
Wolves 1 (Traore 67')
Tottenham 2 (Moura 8', Vertonghen 90 1')
Man of the Match: Adama Traore (Wolves)
WHAT IS GRAPHENE?
It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were experimenting with sticky tape and graphite, the material used as lead in pencils.
Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But when they repeated the process many times, the flakes got thinner.
By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment led to graphene being isolated for the very first time.
In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics.