Organisations behind the most advanced coronavirus vaccines, unknown to many a year ago, have fast become familiar: BioNTech, the Gamaleya Institute and Sinopharm, to name but three.
Aside from these, universities, biotechnology firms and well-known pharmaceutical companies are working on yet-to-be-released vaccines that could be approved over the coming year.
You're looking for greater stability, even higher efficacy and ease of storage
Many of the 200-plus coronavirus vaccines listed by the World Health Organisation as under development are based on alternative technology to those now being rolled out, raising the prospect of a very different vaccine landscape emerging in 2021.
A diversity of vaccines is seen as beneficial because, among other things, it means the manufacturing and distribution capabilities of multiple companies can be engaged.
The Pfizer-BioNTech and Moderna vaccines, both based on messenger RNA (mRNA) and approved for use, are as much as 95 per cent effective, so there may be limited opportunity for later vaccines to achieve better clinical performance. There are, however, other benefits they could offer.
Cheaper vaccines
“The principal improvement would be cost,” said Prof Ian Jones, a virologist at the University of Reading in the UK.
“The best current vaccines, the RNA vaccines, already provide effectively 100 per cent immunity, so there is no further improvement possible.
“However, they are expensive so to provide the same level of protection at a cheaper unit cost would be an advantage.”
Reports indicate Moderna charges about $35 (Dh128.6) per dose, while the Pfizer-BioNTech vaccine costs around $20 (Dh73.5) per dose, although prices paid by different authorities vary.
Much cheaper is the Oxford-AstraZeneca vaccine, said to cost just $3 to $4 per dose, but in clinical trials it was less effective than other vaccines that have released data so far, preventing 70.4 per cent of Covid-19 cases on average, although this reaches 90 per cent if a half-dose is given initially.
Altering the length of time between the two doses, or combining the vaccine with the Sputnik V jab from Russia, may offer further improvements.
These jabs are both known as adenoviral vector vaccines because they employ types of viruses called adenoviruses with coronavirus genetic material added. Once injected into patients, the coronavirus genes cause human cells to produce coronavirus spike proteins, and the immune system’s reaction against these offers protection against the pathogen.
Easier distribution
Aside from looking to improve clinical performance, researchers want to make vaccine distribution easier. The Pfizer-BioNTech vaccine must be stored at -70 to -80°C, so the companies are developing a version, possibly in powdered form and likely to be released in 2021, that does not deteriorate at higher temperatures.
“In theory, a single dose vaccine would also be an improvement as all the current need two doses, but for technical reasons it is probably not possible while maintaining the same levels of protection,” said Prof Jones.
Pharmaceutical giant Johnson and Johnson is, though, trialing an adenovirus-based vaccine that it hopes could be given as a single shot. Current clinical trials will indicate if just a single dose is enough.
Other ways in which the current crop of vaccines could be improved on will emerge over time, according to Prof John Oxford, professor emeritus at the University of London and co-author of the textbook Human Virology.
“We’ll learn from some of the weaknesses of the first generation,” he said. “There will be weaknesses. People raise questions: will they stop transmission? Can a person who’s been vaccinated still carry the virus and infect other people?”
One vaccine for all variants?
Scientists are analysing how the current vaccines will cope with emerging variants, including the more transmissible types first identified in South Africa and the UK.
Multiple alterations to the spike protein, the part of the virus that attaches to human cells, and which antibodies recognise, may necessitate changes to the vaccine. BioNTech has suggested it could develop an amended version of its mRNA vaccine in just six weeks.
“At some point in the future they may have to change the vaccines a little bit, but so far they’re still effective against the predominant variants,” said Prof Paul Hunter, an infectious diseases specialist at the University of East Anglia in the UK.
“Pretty much every year the influenza vaccines change because there are new strains. With coronaviruses, they don’t mutate as rapidly. We may not have to [change] it for a while.”
Different approaches
Including those already authorised by various authorities, 61 vaccines are in clinical trials and 172 in preclinical development, according to WHO.
As well as mRNA vaccines and adenoviral vector vaccines, some jabs, like the Sinopharm vaccine being used in the UAE, are based on inactivated viruses that stimulate an immune response that provides protection against the coronavirus.
Others that could be approved soon are made from purified coronavirus proteins. The immune response to these “protein subunits” – purified sections of the coronavirus incapable of causing disease – protects against the coronavirus.
The adenoviral vectors approved so far, such as the Oxford-AstraZeneca jab, do not replicate inside the patient, but other vaccines coming on stream involve vectors that do multiply.
Others being trialed are based on DNA rather than the mRNA of the Pfizer-BioNTech and Moderna vaccines.
Of the large numbers under development, especially those at an earlier stage of the process, Prof Hunter said “most of them will fall by the wayside” because effective vaccines have already been created.
“I would suggest many of these vaccines that are likely to fall by the wayside will work really well,” he said.
Ethical trials
One factor that may limit the development of additional vaccines is ethical approval for clinical trials, which typically compare one group who have the vaccine with another given a placebo. It is harder to justify giving vulnerable individuals a placebo when effective vaccines are already available.
"If you have not done your randomised control trials by the middle of next year, you're probably not going to get it through ethics," said Prof Hunter.
The Wave 2 programme
Nonetheless, the Coalition for Epidemic Preparedness Innovations (Cepi), a foundation formed in 2017 and supported by governments, philanthropists and organisations such as the Bill and Melinda Gates Foundation, has said funds are needed to develop “Wave 2” vaccines.
Such vaccines may be easier to deliver – eliminating extreme cold-storage requirements, for example – and more suitable for particular groups, such as pregnant women, older people or people with weak immune systems.
Cepi has nine candidate vaccines for its Wave 2 programme, each of which would ideally be protective after a single dose, easy to manufacture in large quantities and not require extreme cold storage.
Cepi said in November it had raised $1.3bn to fund further coronavirus vaccine research, but needs a further $800m (Dh2.94bn) to fund the development of three vaccines that could be developed and made available by the end of 2021. The ultimate aim is to produce one billion doses by the end of 2022.
In December, as part of the Wave 2 programme, Cepi announced it was contributing up to $10m to a South Korean company, SK Bioscience, for its genetically engineered protein vaccine. It consists of two components, a section of the coronavirus spike protein and a “core” particle to which it attaches.
So, while immunisation has already started, the coronavirus vaccine landscape may change in the coming year as researchers look to overcome clinical, cost and distribution drawbacks of the current medicines.
“You’re looking for greater stability, even higher efficacy and ease of storage,” said Prof David Taylor, a professor emeritus of pharmaceutical and public health policy at University College London, while acknowledging “it’s not very easy” for later vaccines to improve upon those coming to market now.
The biog
Place of birth: Kalba
Family: Mother of eight children and has 10 grandchildren
Favourite traditional dish: Al Harees, a slow cooked porridge-like dish made from boiled cracked or coarsely ground wheat mixed with meat or chicken
Favourite book: My early life by Sheikh Dr Sultan bin Muhammad Al Qasimi, the Ruler of Sharjah
Favourite quote: By Sheikh Zayed, the UAE's Founding Father, “Those who have no past will have no present or future.”
The specs: 2019 Cadillac XT4
Price, base: Dh145,000
Engine: 2.0-litre turbocharged in-line four-cylinder engine
Transmission: Nine-speed automatic
Power: 237hp @ 5,000rpm
Torque: 350Nm @ 1,500rpm
Fuel economy, combined: 8.7L / 100km
Racecard
6.30pm: Mazrat Al Ruwayah Group Two (PA) US$55,000 (Dirt) 1,600m
7.05pm: Meydan Trophy (TB) $100,000 (Turf) 1,900m
7.40pm: Handicap (TB) $135,000 (D) 1,200m
8.15pm: Balanchine Group Two (TB) $250,000 (T) 1,800m
8.50pm: Handicap (TB) $135,000 (T) 1,000m
9.25pm: Firebreak Stakes Group Three (TB) $200,000 (D) 1,600m
10pm: Handicap (TB) $175,000 (T) 2,410m
The National selections: 6.30pm: RM Lam Tara, 7.05pm: Al Mukhtar Star, 7.40pm: Bochart, 8.15pm: Magic Lily, 8.50pm: Roulston Scar, 9.25pm: Quip, 10pm: Jalmoud
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
The cost of Covid testing around the world
Egypt
Dh514 for citizens; Dh865 for tourists
Information can be found through VFS Global.
Jordan
Dh212
Centres include the Speciality Hospital, which now offers drive-through testing.
Cambodia
Dh478
Travel tests are managed by the Ministry of Health and National Institute of Public Health.
Zanzibar
AED 295
Zanzibar Public Health Emergency Operations Centre, located within the Lumumba Secondary School compound.
Abu Dhabi
Dh85
Abu Dhabi’s Seha has test centres throughout the UAE.
UK
From Dh400
Heathrow Airport now offers drive through and clinic-based testing, starting from Dh400 and up to Dh500 for the PCR test.
The essentials
What: Emirates Airline Festival of Literature
When: Friday until March 9
Where: All main sessions are held in the InterContinental Dubai Festival City
Price: Sessions range from free entry to Dh125 tickets, with the exception of special events.
Hot Tip: If waiting for your book to be signed looks like it will be timeconsuming, ask the festival’s bookstore if they have pre-signed copies of the book you’re looking for. They should have a bunch from some of the festival’s biggest guest authors.
Information: www.emirateslitfest.com
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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
A Prayer Before Dawn
Director: Jean-Stephane Sauvaire
Starring: Joe Cole, Somluck Kamsing, Panya Yimmumphai
Three stars
Children who witnessed blood bath want to help others
Aged just 11, Khulood Al Najjar’s daughter, Nora, bravely attempted to fight off Philip Spence. Her finger was injured when she put her hand in between the claw hammer and her mother’s head.
As a vital witness, she was forced to relive the ordeal by police who needed to identify the attacker and ensure he was found guilty.
Now aged 16, Nora has decided she wants to dedicate her career to helping other victims of crime.
“It was very horrible for her. She saw her mum, dying, just next to her eyes. But now she just wants to go forward,” said Khulood, speaking about how her eldest daughter was dealing with the trauma of the incident five years ago. “She is saying, 'mama, I want to be a lawyer, I want to help people achieve justice'.”
Khulood’s youngest daughter, Fatima, was seven at the time of the attack and attempted to help paramedics responding to the incident.
“Now she wants to be a maxillofacial doctor,” Khulood said. “She said to me ‘it is because a maxillofacial doctor returned your face, mama’. Now she wants to help people see themselves in the mirror again.”
Khulood’s son, Saeed, was nine in 2014 and slept through the attack. While he did not witness the trauma, this made it more difficult for him to understand what had happened. He has ambitions to become an engineer.
Evacuations to France hit by controversy
- Over 500 Gazans have been evacuated to France since November 2023
- Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
- The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
- Artists and researchers fall under a programme called Pause that began in 2017
- It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
- Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
- Unlike students, they are allowed to bring their families to France
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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Sui Dhaaga: Made in India
Director: Sharat Katariya
Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav
3.5/5
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%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EJames%20Gunn%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Chris%20Pratt%2C%20Zoe%20Saldana%2C%20Dave%20Bautista%2C%20Vin%20Diesel%2C%20Bradley%20Cooper%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
KILLING OF QASSEM SULEIMANI
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
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
UAE currency: the story behind the money in your pockets
'Worse than a prison sentence'
Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.
“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.
“They were living in perpetual mystery as to how their futures would pan out, and what that would be.
“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.
“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.
“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”