Sheikh Abdullah bin Mohammed Al Hamed, chairman of Abu Dhabi's Department of Health, participates clinical trials for the Covid-19 vaccine in Abu Dhabi. Abu Dhabi Government Media Office
Sheikh Abdullah bin Mohammed Al Hamed, chairman of Abu Dhabi's Department of Health, participates clinical trials for the Covid-19 vaccine in Abu Dhabi. Abu Dhabi Government Media Office
Sheikh Abdullah bin Mohammed Al Hamed, chairman of Abu Dhabi's Department of Health, participates clinical trials for the Covid-19 vaccine in Abu Dhabi. Abu Dhabi Government Media Office
Sheikh Abdullah bin Mohammed Al Hamed, chairman of Abu Dhabi's Department of Health, participates clinical trials for the Covid-19 vaccine in Abu Dhabi. Abu Dhabi Government Media Office

Fight against Covid-19 should be guided by science


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Even as researchers scramble to halt the coronavirus pandemic in its tracks, science is being undermined by dwindling funds and fabricated theories. Children in the developing world are increasingly being deprived of life-saving immunisation while conspiracy theorists in the West dissuade parents from getting their children vaccinated. The two trends could prove disastrous. A UN survey of more than 80 countries has found that three in four immunisation programmes have been halted or delayed due to the coronavirus. A child born today has 20 per cent less chance of getting all the recommended vaccines by the age of five, leaving millions exposed to preventable disease.

Providing vaccines has become a challenge as the pandemic has restricted access to healthcare. Personnel, funds and medical facilities have been diverted towards the Covid-19 response. In the long term, this imbalance could have fatal ramifications.

Vaccine and funding shortages could spark other outbreaks in addition to the current pandemic. For instance, at least 30 measles vaccination campaigns were cancelled or put at risk this year, even as cases of measles had been on the rise prior to the coronavirus.

Diminished funding has affected the healthcare sector beyond vaccines. The British charity Cancer Research UK announced an estimated £300 million (Dh1.39bn) cut in fundraising over the next three years.

The global response to Covid-19 must take into account other threats to public health, which have not gone away with the pandemic. In the words of Henrietta Fore, Unicef's executive director: "We cannot trade one health crisis for another".

Vaccines save 3 million lives every year, but despite the overwhelming scientific evidence, a campaign against immunisation, led by so-called anti-vaxxers, is paving the way for disaster. Relying on an anecdotal study that was disproved years ago, the movement claims that vaccines are linked to autism and has been on a deadly quest to discourage people from providing their children with life-saving shots.

A survey published by a German newspaper this week found that the confidence of Europeans in vaccines is decreasing. In April, 74 per cent of participants said they would get inoculated should a coronavirus vaccine become available. Two months later, that number dropped to 68 per cent. According to a separate survey by the British analytics firm YouGov, only 50 per cent of Germans are willing to be vaccinated against Covid-19.

With vaccination on the wane worldwide and misplaced scepticism on the rise in the West, it is all the more important to fight disinformation and provide funding for immunisation programmes.

Vaccines save 3 million lives every year, but despite overwhelming scientific evidence, a campaign against immunisation, led by so-called anti-vaxxers, is paving the way for disaster

Politicians and public figures must also lead by example, driving public support for science through their actions. This includes wearing masks in public and partaking in efforts to curb the spread of the coronavirus. Yesterday for instance, the chairman of the Department of Health Abu Dhabi, Sheikh Abdullah bin Mohammed Al Hamed, volunteered to be the first to test for a Covid-19 vaccine. The UAE has commenced clinical trials for two Covid-19 vaccines, with 15,000 volunteers set to take the shots.

For science to prevail, governments must devote more resources to dispelling false information and espouse a more holistic approach to public health.

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

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.”

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Trump v Khan

2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US

2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks

2019: Trump calls Khan a “stone cold loser” before first state visit

2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”

2022:  Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency

July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”

Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.

Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”

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RESULTS

5pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Purebred Arabian Cup Conditions (PA) Dh 200,000 (Turf) 1,600m
Winner: Hameem, Adrie de Vries (jockey), Abdallah Al Hammadi (trainer)
5.30pm: Sheikha Fatima bint Mubarak Cup Conditions (PA) Dh 200,000 (T) 1,600m
Winner: Winked, Connor Beasley, Abdallah Al Hammadi
6pm: Sheikh Sultan bin Zayed Al Nahyan National Day Cup Listed (TB) Dh 380,000 (T) 1,600m
Winner: Boerhan, Ryan Curatolo, Nicholas Bachalard
6.30pm: Sheikh Sultan bin Zayed Al Nahyan National Day Group 3 (PA) Dh 500,000 (T) 1,600m
Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel
7pm: Sheikh Sultan bin Zayed Al Nahyan National Day Jewel Crown Group 1 (PA) Dh 5,000,000 (T) 2,200m
Winner: Messi, Pat Dobbs, Timo Keersmaekers
7.30pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Handicap (PA) Dh 150,000 (T) 1,400m
Winner: Harrab, Ryan Curatolo, Jean de Roualle
8pm: Wathba Stallions Cup Handicap (PA) Dh 100,000 (T) 1,400m
Winner: AF Alareeq, Connor Beasley, Ahmed Al Mehairbi

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat