• Health workers disinfect a train converted to a Covid-19 care centre after a surge in the number of positive coronavirus cases in Guwahati, India. AP
    Health workers disinfect a train converted to a Covid-19 care centre after a surge in the number of positive coronavirus cases in Guwahati, India. AP
  • A worker caring for Covid-19 patients takes a break in the ICU ward at the Holy Family hospital in New Delhi, India. Getty
    A worker caring for Covid-19 patients takes a break in the ICU ward at the Holy Family hospital in New Delhi, India. Getty
  • A worker attends to a patient in the emergency ward at the Holy Family hospital. Getty
    A worker attends to a patient in the emergency ward at the Holy Family hospital. Getty
  • Covid-19 patients in the emergency ward at the Holy Family hospital. Getty
    Covid-19 patients in the emergency ward at the Holy Family hospital. Getty
  • Volunteers help with the funeral pyres at a cremation ground in New Delhi. The capital's crematoriums and burial grounds have been overwhelmed during the second wave of the pandemic. AFP
    Volunteers help with the funeral pyres at a cremation ground in New Delhi. The capital's crematoriums and burial grounds have been overwhelmed during the second wave of the pandemic. AFP
  • A Covid-19 patient breathes with the help of oxygen provided by a gurdwara, a place of worship for Sikhs. The tent along the roadside in Ghaziabad is helping people who need oxygen support. AFP
    A Covid-19 patient breathes with the help of oxygen provided by a gurdwara, a place of worship for Sikhs. The tent along the roadside in Ghaziabad is helping people who need oxygen support. AFP
  • Kashmiris mourn over the coffin of a relative who died of Covid-19 at a graveyard on the outskirts of Srinagar. EPA
    Kashmiris mourn over the coffin of a relative who died of Covid-19 at a graveyard on the outskirts of Srinagar. EPA
  • Urns containing ashes of dead people, including those who died of Covid-19. The urns are kept at a crematorium in New Delhi and will be immersed after the lockdown. Reuters
    Urns containing ashes of dead people, including those who died of Covid-19. The urns are kept at a crematorium in New Delhi and will be immersed after the lockdown. Reuters
  • A distraught relative of a coronavirus victim at a cremation ground on the banks of the River Ganges at Garhmukteshwar in the northern state of Uttar Pradesh. Reuters
    A distraught relative of a coronavirus victim at a cremation ground on the banks of the River Ganges at Garhmukteshwar in the northern state of Uttar Pradesh. Reuters
  • Masked customers line up outside a pharmacy to buy medicines in Guwahati. AP
    Masked customers line up outside a pharmacy to buy medicines in Guwahati. AP
  • A health worker takes a nasal swab sample to test for Covid-19 as others wait their turn outside a field hospital in Mumbai. AP
    A health worker takes a nasal swab sample to test for Covid-19 as others wait their turn outside a field hospital in Mumbai. AP
  • A health worker takes a break outside a field hospital in Mumbai, India. AP
    A health worker takes a break outside a field hospital in Mumbai, India. AP

Some Covid-19 vaccines slightly less effective against the Indian strain, research suggests


Gillian Duncan
  • English
  • Arabic

Antibodies produced in response to some vaccines are slightly less effective against the strain of Sars-CoV-2 – the coronavirus that causes Covid-19 – found in India, according to early research.

The earliest samples of the B.1.617 variant were found in India in October and Indian authorities said in March it was spreading fast in the western state of Maharashtra.

On Wednesday, the World Health Organisation said the B.1.617 variant had been detected in 44 countries.

The UN health body classified the variant as of "global concern", citing evidence that it is more transmissible.

B.1.617.2 is considered a variant of concern in the UK because of its rapid spread there.

Studies indicate the strain found in India could spread easily and evade some antibodies from prior infection or vaccination.

This strain has eight mutations, but its most significant alterations are known as E484Q and L452R.

The former is found in the UK, South African and Brazilian variants of the coronavirus, while the latter is found in the Californian strain.

As these two strains come together in the variant found in India, it is sometimes known as a "double mutant" variant.

Researchers from the UK's University of Cambridge found the mutations confer "modestly reduced sensitivity" of about 20 per cent to antibodies produced using the Pfizer-BioNTech shot.

"This spike confers modestly reduced sensitivity to BNT162b2 [the Pfizer-BioNTech vaccine] mRNA vaccine-elicited antibodies that is similar in magnitude to the loss of sensitivity conferred by L452R or E484Q alone," they wrote in a study yet to be peer-reviewed.

While antibodies were found to be about a fifth less potent against some mutations in B.1.617, Ravindra Gupta, a virologist at the university, said this would "not render vaccination ineffective".

He was speaking in an interview with British science journal Nature.

Mr Gupta's team found some healthcare workers in Delhi who had been vaccinated by Covishield, a locally produced version of the Oxford-AstraZeneca vaccine, were reinfected.

Most cases were tied to B.1.617.

However, in laboratory tests Covishield was also found to neutralise the virus.

Researchers in Germany found people who had previously been infected with Sars-CoV-2 neutralised the strain about 50 per cent less effectively.

The blood of those who received two shots of the Pfizer vaccine was found to be about 67 per cent less potent against it.

“B.1.617 evaded antibodies induced by infection or vaccination, although with moderate efficiency.

"Collectively, our study reveals that antibody evasion of B.1.617 may contribute to the rapid spread of this variant," they wrote.

Studies into the effectiveness of Covaxin, an Indian-produced inactivated vaccine, suggest it offers protection against the strain.

There is no published research into the efficacy of the Sinopharm vaccine against it.

Experts said even if the vaccines do not prevent infection, they will limit the severity of the symptoms.

Indian crematoriums overwhelmed as death toll increases – in pictures

  • Experts say India's toll could be a huge undercount, as suspected cases are not included and many deaths from the infection are being attributed to underlying conditions. AP
    Experts say India's toll could be a huge undercount, as suspected cases are not included and many deaths from the infection are being attributed to underlying conditions. AP
  • A relative of a person who died of Covid-19 breaks down during cremation in Jammu. AP
    A relative of a person who died of Covid-19 breaks down during cremation in Jammu. AP
  • An unprecedented number of bodies has forced some crematoriums to skip individual ceremonies and exhaustive rituals. AP
    An unprecedented number of bodies has forced some crematoriums to skip individual ceremonies and exhaustive rituals. AP
  • Health workers and relatives carry the body of a Covid-19 victim for cremation in Jammu, India, on Sunday, April 25. AP
    Health workers and relatives carry the body of a Covid-19 victim for cremation in Jammu, India, on Sunday, April 25. AP
  • Supplies of life-saving oxygen have been depleted to critical levels across India, leaving patients to die while waiting in line to see doctors. AP
    Supplies of life-saving oxygen have been depleted to critical levels across India, leaving patients to die while waiting in line to see doctors. AP
  • The federal government has asked industrialists to increase the production of oxygen and life-saving drugs that are also in short supply. AP
    The federal government has asked industrialists to increase the production of oxygen and life-saving drugs that are also in short supply. AP
Tributes from the UAE's personal finance community

• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style

“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.

Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term. 

From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”

• Sam Instone, director of financial advisory firm AES International

"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed.  Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."

• Demos Kyprianou, a board member of SimplyFI.org

"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."

• Steve Cronin, founder of DeadSimpleSaving.com

"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.

His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.

Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."

• Zach Holz, who blogs about financial independence at The Happiest Teacher

"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen.  He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”

• Tuan Phan, a board member of SimplyFI.org

"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."

Surianah's top five jazz artists

Billie Holliday: for the burn and also the way she told stories.  

Thelonius Monk: for his earnestness.

Duke Ellington: for his edge and spirituality.

Louis Armstrong: his legacy is undeniable. He is considered as one of the most revolutionary and influential musicians.

Terence Blanchard: very political - a lot of jazz musicians are making protest music right now.

RESULT

Huddersfield Town 2 Manchester United 1
Huddersfield: Mooy (28'), Depoitre (33')
Manchester United: Rashford (78')

 

Man of the Match: Aaron Mooy (Huddersfield Town)

RESULTS

Women:

55kg brown-black belt: Amal Amjahid (BEL) bt Amanda Monteiro (BRA) via choke
62kg brown-black belt: Bianca Basilio (BRA) bt Ffion Davies (GBR) via referee’s decision (0-0, 2-2 adv)
70kg brown-black belt: Ana Carolina Vieira (BRA) bt Jessica Swanson (USA), 9-0
90kg brown-black belt: Angelica Galvao (USA) bt Marta Szarecka (POL) 8-2

Men:

62kg black belt: Joao Miyao (BRA) bt Wan Ki-chae (KOR), 7-2
69kg black belt: Paulo Miyao (BRA) bt Gianni Grippo (USA), 2-2 (1-0 adv)
77kg black belt: Espen Mathiesen (NOR) bt Jake Mackenzie (CAN)
85kg black belt: Isaque Braz (BRA) bt Faisal Al Ketbi (UAE), 2-0
94kg black belt: Felipe Pena (BRA) bt Adam Wardzinski (POL), 4-0
110kg black belt final: Erberth Santos (BRA) bt Lucio Rodrigues (GBR) via rear naked choke

'Brazen'

Director: Monika Mitchell

Starring: Alyssa Milano, Sam Page, Colleen Wheeler

Rating: 3/5

Who has lived at The Bishops Avenue?
  • George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
  • Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
  • Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
  • Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills. 
Hunting park to luxury living
  • Land was originally the Bishop of London's hunting park, hence the name
  • The road was laid out in the mid 19th Century, meandering through woodland and farmland
  • Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds

 

How to help

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

TOURNAMENT INFO

Women’s World Twenty20 Qualifier

Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November

UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi

The%20specs
%3Cp%3E%0D%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4.0-litre%20twin-turbo%20V8%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E666hp%20at%206%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E850Nm%20at%202%2C300-4%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20auto%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3EQ1%202023%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh1.15%20million%20(estimate)%3C%2Fp%3E%0A
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

Company Profile

Company name: Yeepeey

Started: Soft launch in November, 2020

Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani

Based: Dubai

Industry: E-grocery

Initial investment: $150,000

Future plan: Raise $1.5m and enter Saudi Arabia next year

Stamp duty timeline

December 2014: Former UK finance minister George Osbourne reforms stamp duty, replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:
Up to £125,000 - 0%; £125,000 to £250,000 – 2%; £250,000 to £925,000 – 5%; £925,000 to £1.5m: 10%; Over £1.5m – 12%

April 2016: New 3% surcharge applied to any buy-to-let properties or additional homes purchased.

July 2020: Rishi Sunak unveils SDLT holiday, with no tax to pay on the first £500,000, with buyers saving up to £15,000.

March 2021: Mr Sunak decides the fate of SDLT holiday at his March 3 budget, with expectations he will extend the perk unti June.

April 2021: 2% SDLT surcharge added to property transactions made by overseas buyers.