Lurking behind the horror of Covid-19, many scientists are increasingly concerned about the rising inefficacy of antibiotics against harmful bacteria.
The drugs have been a mainstay treatment in modern medicine for almost 100 years. The crisis is so severe that some microbiologists say resistance to them is a greater risk to long-term public health than Covid-19. Professor of medical microbiology at Oxford University Tim Walsh describes the current pandemic as a "short, sharp earthquake" and antibiotic resistance the "massive tsunami".
There have been over 2 million deaths from Covid-19 in just under a year. In a parallel crisis that does not involve the virus, one and a half million have died as a result of infections against which antibiotics no longer work.
Growing resistance to the drugs threatens our ability to treat medical issues of all degrees of severity. Even those undergoing routine surgery could be in mortal danger of infection. Health systems across the planet, when the burden of Covid-19 eventually starts to lift, will face a backlog of operations of this kind from hip replacements to gastric bands. The phenomenon also threatens animals and plants.
Resistance happens when a bacteria or fungi are no longer eliminated by an antibiotic. This is fuelled by doctors overprescribing, as well as patients demanding them unnecessarily. It will make the treatment of many conditions far more complex, expensive, time-consuming and toxic, further burdening struggling healthcare systems around the world.
Ineos, a major chemicals company, has just given Oxford University almost $140 million to create an institute to help tackle the problem.
Nations must now follow suit. Allowing this crisis to deteriorate would be an inexcusable failure of the global community. While the response of many countries to the current pandemic has been underwhelming, Covid-19 caught us off guard. This is not the case for antibiotic resistance, which is a threat we have known about for years.
Chemicals giant Ineos has made one of the largest donations in the history of British universities to fund a new institution to fight antibiotic resistance at Oxford University. Getty Images
Even those undergoing routine surgery could be in mortal danger of infection
There are some similarities between the two crises. Germs do not respect national borders, so incompetence in just one country impacts the entire globe.
Personal selfishness also worsens the crisis. Much like choosing not to wear a mask risks prolonging the pandemic, failing to complete a course of antibiotics or demanding them when they are unnecessary produces the ideal circumstance for resistant bacteria to develop.
A solution lies partly in scientific innovation, advanced by institutions such as Oxford's. A more comprehensive approach will require governments across the globe to shape policy, as well educate their citizens on the dangers of incorrectly using these crucial drugs.
Alexander Fleming's discovery of penicillin, the first antibiotic, in 1928 was one of the most significant moments in scientific history. It granted medics a chance to fight some of the deadliest diseases at a relatively low cost. This achievement, not even a hundred years after its discovery, risks being squandered without immediate action.
Covid-19 is commanding the attention of the global medical community. This is not an excuse to take our eyes off the ball on other threats. Antibiotic resistance is a foremost danger on which doctors should be focusing.
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
Name: Thndr Started: 2019 Co-founders: Ahmad Hammouda and Seif Amr Sector: FinTech Headquarters: Egypt UAE base: Hub71, Abu Dhabi Current number of staff: More than 150 Funds raised: $22 million
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.
The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.
He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.
He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.
He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.
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
