The UAE has sufficient supplies of Sinopharm vaccine to allow for some residents to take a third 'booster' shot to further protect them against Covid-19.
Extra doses were administered to a 'small number' of people whose immune systems were found to have not responded to the vaccine, a health expert said.
Residents concerned they might not have enough antibodies have been told they can check their levels, but should wait until three months after their second Sinopharm shot.
It happens that some people will not respond as well as other people
"We recommend that if you want to do so, it's within the period of three months of receiving your second shot, and then every three months to ensure that you have a sufficient level of antibodies to prevent, or fight against severe forms of Covid-19," Walid Zaher, chief research officer of G42 Healthcare, the company responsible for distributing the Sinopharm vaccine in the UAE, told Dubai Eye's Business Breakfast programme.
Dr Zaher said some people did not create enough antibodies to protect them against Covid-19 – a phenomenon “which is expected with all vaccines.”
He emphasised that very few people required a booster.
"It's a very small number compared to the millions who have received the vaccine already," he said.
“The main purpose here is to ensure the safety of everyone, and that was already achieved. It happens that some people will not respond as well as other people."
Dr Zaher said they had researched the benefits of giving a third dose of the Sinopharm vaccine, and so far the results had been positive.
"It has been shown within the context of a study, to boost immunity to a protected level from Covid-19, and that was the purpose behind giving the third shot to some people," he said.
“Let's think of this as a flu, and it's known that every year you have to renew your flu shot. So think of it as the same thing."
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Residents who get an antibody test and find they have low levels of immunity to Covid-19 are not currently able to request a third shot. Instead, Dr Zaher recommended people should consult their doctors.
“The medic will then notify the healthcare facilities and authorities, and you will be scheduled for a third shot,” he said.
Those who participated in the initial Sinopharm vaccine trial and do not know if they received a placebo or the real thing, should consult the centre where they initially received their injections.
Details of the third booster injections were revealed as the UAE announced the restart of vaccinations for all residents.
The Emirates had briefly limited the availability of vaccines to the vulnerable and over-60s, but this has once more been extended to all.
Appointments are necessary for the first and second dose, but can be booked in most vaccine centres within a two-week window.
Dr Zaher emphasised that the UAE had ample supplies of the Sinopharm vaccine to cater for the third jabs.
“You're talking about a very small number of people, so the answer is definitely yes.
"If you're running a mass campaign to vaccinate millions of people, then there is definitely a couple of thousand – enough to vaccinate people who did not respond as well," he said.
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Global state-owned investor ranking by size
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1.
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United States
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2.
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China
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3.
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
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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Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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