Latest: Covid-19 booster shot: what's in it and how soon will you need it?
The Sinopharm vaccine is expected to offer people immunity against Covid-19 for four to six months, a top doctor involved in the UAE trial said.
Dr Nawal Al Kaabi, chairwoman of the National Covid-19 Clinical Management Committee, said Abu Dhabi's public health provider recorded a "significant decrease" in the rate of hospital admissions after the country began a mass vaccination campaign.
That was despite the second wave of the pandemic being worse than the first, she said.
There is a possibility that we will need a booster dose like any other inactivated vaccine
"The number of hospitalisations was much less and there were no critical care admissions seen among the vaccinated, 14 days post second dose," Dr Al Kaabi said on Friday at an online public health conference about the Covid-19 response.
“There was no mortality among the vaccinated. Even for those who got the infection, usually it is mild or asymptomatic.
“We also noticed that the duration of positivity is very short among the vaccinated.”
The duration of immunity offered by two doses of the vaccine is likely to last six months or less, although she said further data was needed to determine the exact period.
“What is the best estimate for how long the immunity will last? Now, it is around four to six months, however, we don’t have the final data,” said Dr Al Kaabi, a paediatric infectious diseases consultant and chief medical officer at Sheikh Khalifa Medical City.
“There is a possibility that we will need a booster dose like any other inactivated vaccine.”
The conference also received an update about the Sputnik V vaccine trial in the UAE, which should begin a small Phase 2 study. It will test a combination of Sputnik V and AstraZeneca shots.
“The advantage here is at the time when we have a shortage of one or the other vaccine, this provides a new way to use combinations of different vaccines,” said Dr Ahmed Al Hammadi, a consultant in infectious diseases at Tawam Hospital in Al Ain.
Sputnik V was approved for emergency use in the Emirates on January 21 after the country hosted a small-scale Phase 3 trial of the vaccine involving about 1,000 volunteers. The shot was produced by Gamaleya National Centre of Epidemiology and Microbiology.
Clinical trial data shows a 91.4 per cent efficacy for the Sputnik V vaccine 28 days after the first dose is administered and more than 95 per cent after 42 days.
Trials placed Sinopharm's efficacy at 79.34 per cent, but some experts said it could hold up better against variants than other vaccine types.
That is because it is derived from the whole virus and does not only target the spike protein, where the most concerning mutations have been found in the variants.
Most of the other vaccines currently in use all target the spike protein.
But medics are still examining how effective vaccines are against new strains, including the Sinopharm shot.
Sinopharm's Covid-19 vaccine production centre in Beijing - in pictures
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
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The charge is stored inside a battery
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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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