There are currently around 165 Covid-19 vaccines in development. The global race for an effective and safe vaccine appears to be approaching the home straight. On August 11, the Russian Ministry of Health officially registered Sputnik V, which it claims is the first viable vaccine against Covid-19 on the market.
Sputnik V is named after another Russian innovation, Sputnik 1, the first satellite to orbit the earth. Naming a vaccine after a satellite seems odd. Furthermore, in Russian the word "sputnik" means 'travelling companion', apt for a satellite, but perhaps less so for a healthcare technology – at first glance. Soon, however, vaccination against Covid-19 may be a requirement for international travel. If so, the name, travelling companion, would be pure genius.
Jeremy Miller, a brand strategist and author of the book Brand New Name, suggests that, on average, it costs around $2.5 million (Dh9.2m) to conceive and register a new brand name for a drug. Getting the name right is serious business.
This is even more important with a vaccine – getting healthy people to take "medicine" can be a hard sell. Consider that Nobel Prize-winning playwright George Bernard Shaw described vaccines as "a peculiarly filthy piece of witchcraft". Vaccination is an emotional topic, and encouraging people to opt in is an effort that requires all the help it can get. Even something as seemingly trivial as a name might tip the balance for or against a particular vaccine.
Would you allow yourself to be vaccinated against Covid-19? Would you let your child take the vaccine? These are questions we may all be asking ourselves very soon. And the answer tends to split the world into three groups: "yes" (acceptance), "no" (resistance), and "don't know" (hesitancy).
What are the current rates of Covid-19 vaccine acceptance, resistance and hesitancy? A recent poll reported in the journal Science suggests that in the US, Covid-19 vaccine resistance rates are around 50 per cent, with hesitancy rates at approximately 25 per cent. These levels are likely to vary across nations, based on cultural factors and how well the government has managed the pandemic to date. Our own Covid-19 survey work in the Emirates suggests much lower rates for both resistance and hesitancy among UAE citizens and residents.
Focused on vaccination in general, previous research reports women tending to be more hesitant than men. Similarly, people on low incomes are generally more vaccine-hesitant and resistant than their higher-earning counterparts. Other factors worthy of consideration in the current pandemic context might be levels of trust in government and faith in the say-so of experts. It's also worth exploring information behaviours, such as the sources from which people choose to take their health advice. Building up a psychological profile of the most vaccine-hesitant/resistant can help public health officials better prepare the ground for when an effective Covid-19 vaccine becomes widely available.
Public health messaging is an increasingly difficult challenge, especially in an age when almost anyone can release seemingly authoritative documentaries online. For example, Plandemic, a 26-minute, viral conspiracy-theory video released in May, was a toxic mix of myths, mistakes and half-truths. It was, however, viewed by millions, becoming one of the most widespread sources of Covid-19 misinformation to date.
Previous research indicates that women and people with lower incomes tend to be more hesitant to take vaccines
Mainstream public health messaging will also have to compete with the noise generated by legions of anti-vaccination websites and social media campaigns like #antivaccine. It is discouraging that vaccination rates against measles and other infectious diseases were already declining in some countries. Last year, the trend led to the World Health Organisation listing vaccine hesitancy as one of 10 global health threats.
No matter how good public messaging is, however, some people are entrenched in their anti-vaccine beliefs and whatever is said will only strengthen their resistance. This is a stance that, when extreme, shares much in common with paranoid and persecutory delusions. Arguments about the elimination of smallpox, polio and diphtheria are drowned out by the idea of a global conspiracy intent on world domination through a super vaccine.
The US Centres for Disease Control and Prevention suggest that more people vaccinated equals fewer opportunities for a disease to spread. In some cases, widespread vaccination leads to the elimination of a disease altogether. Those individuals resisting vaccination, for whatever reason, increase the risk of future outbreaks.
This then comes back to debates about the rights of the individual versus the rights of the community. Do I have the right to refuse vaccination, when we know my actions put the community at risk? It's me versus we.
Public health messaging aimed at increasing the uptake of a future Covid-19 vaccine would benefit from understanding the psychology of those individuals who are vaccine-hesitant or resistant. Beyond the growing demand for psychotherapy, psychology has several other significant roles to play in the current context. One of them is helping us reach those who, wittingly or unwittingly, leave themselves out of the fight to overcome this pandemic.
Justin Thomas is a professor of psychology at Zayed University
'The Batman'
Stars:Robert Pattinson
Director:Matt Reeves
Rating: 5/5
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What is the Supreme Petroleum Council?
The Abu Dhabi Supreme Petroleum Council was established in 1988 and is the highest governing body in Abu Dhabi’s oil and gas industry. The council formulates, oversees and executes the emirate’s petroleum-related policies. It also approves the allocation of capital spending across state-owned Adnoc’s upstream, downstream and midstream operations and functions as the company’s board of directors. The SPC’s mandate is also required for auctioning oil and gas concessions in Abu Dhabi and for awarding blocks to international oil companies. The council is chaired by Sheikh Khalifa, the President and Ruler of Abu Dhabi while Sheikh Mohamed bin Zayed, Abu Dhabi’s Crown Prince and Deputy Supreme Commander of the Armed Forces, is the vice chairman.
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.”
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
The biog:
Languages: Arabic, Farsi, Hindi, basic Russian
Favourite food: Pizza
Best food on the road: rice
Favourite colour: silver
Favourite bike: Gold Wing, Honda
Favourite biking destination: Canada
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5