The news that Russia could approve a coronavirus vaccine for use in August has caused an international stir – but experts are not surprised the country is moving ahead fast.
Moscow officials hope their vaccine will gain approval for widespread use in the next two weeks with manufacturing to begin the following month, it was revealed in an interview with The National.
Development of the vaccine at the Gamaleya Research Institute of Epidemiology and Microbiology in the Russian capital has been financed by the government-controlled Russian Direct Investment Fund.
Prof John Oxford, co-author of the textbook Human Virology, said he was "impressed but not surprised" at how advanced the programme was.
“This is coming from the Gamaleya institute – a pretty big research institute in Moscow … They will make sure the testing is of international standards so it can be cross-licensed abroad as well as in Russia,” he said.
Like many others, the Russian vaccine programme uses existing vaccine technology tweaked for the new coronavirus.
It is based on versions of a common cold virus, called an adenovirus, genetically engineered to produce a surface protein or spike protein from the new coronavirus. This spike protein stimulates an immune response that should protect against the coronavirus.
Ian Jones, a professor of virology at the University of Reading in the UK, said the fact that the Russian vaccine was based on well-understood technology meant it was not likely to present a hazard.
“Because of all the work done on the [adenovirus] vectors, I think it’s probably safe,” he said. “I don’t see why it shouldn’t work.”
In an interview with The National, the Russian Direct Investment Fund's chief executive, Kirill Dmitriev, said he expected the vaccine to be the first of the more than 100 under development around the globe to be approved.
Mr Dmitriev said the vaccine, which he himself has been injected with, stimulated antibody production in all those it was tested on in phase 1 and 2 clinical trials.
The World Health Organisation’s latest update – released this week – indicates there are 25 potential vaccines undergoing clinical trials, plus 139 in preclinical evaluation.
Of those already in clinical trials, just four – one American, one British and two Chinese – are listed as already having reached stage 3 trials, which analyse real-world effectiveness.
One, developed by the University of Oxford, began phase 3 clinical trials in the UK in May, while an American vaccine, from the Massachusetts-based biotechnology company Moderna, started them this week.
One of the two Chinese vaccines, developed by the Wuhan Institute of Biological Products and the pharmaceutical company Sinopharm, is due to undergo phase 3 clinical trials in the Emirates through a tie-up with the UAE technology company Group 42. If the trials are successful, this vaccine could be manufactured in the UAE.
Phase 3 clinical trials of the Gamaleya institute’s vaccine are starting soon in Russia, the UAE and other nations, and reports indicate the aim is to secure approval by as early as August 10, allowing thousands of medical staff to be vaccinated. Large-scale vaccinations of the population could begin the following month.
Phase 3 trials are typically carried out in a few countries is to ensure testing is carried out on a genetically diverse range of people. Authorities in the UAE have said the Emirates is an ideal location for trials due to its diverse population.
As many as 30 million doses could reportedly be produced in Russia by the end of this year, with manufacturing capacity abroad reaching 170m thanks to agreements with five countries.
Another Russian-developed vaccine, from Siberia’s Vector institute, began clinical trials this week when the first volunteer was injected with the medicine.
Availability of coronavirus vaccines will vary from country to country depending in part on investments made by national governments or institutions such as the European Union.
Hundreds of millions of doses of as-yet-unapproved vaccines have already been bought up by authorities in developed countries, which have also funded research and invested in biotechnology companies to maximise their access to stocks as soon as manufacturing begins.
Production of the Gamaleya institute vaccine could take place in the UAE as well as Russia.
“One of the things Russia does have, and a number of ex-Soviet countries have, are things like manufacturing facilities. They’ve not been prioritised in recent years, but nevertheless, they exist,” said Prof Jones.
Whichever vaccine ends up as the first to be approved and manufactured at scale, observers are pleased at the speed at which the scientific community has reacted to the pandemic.
“You can imagine things happening quite quickly with some of these [vaccines],” said Prof Oxford, an emeritus professor of virology at the University of London.
“You can say … ‘We’ve got some immune response, let’s get moving.’ I would be content to have any of them. I’ve been very pleased and impressed at the speed at which things have been moving.”
Plan to boost public schools
A major shake-up of government-run schools was rolled out across the country in 2017. Known as the Emirati School Model, it placed more emphasis on maths and science while also adding practical skills to the curriculum.
It was accompanied by the promise of a Dh5 billion investment, over six years, to pay for state-of-the-art infrastructure improvements.
Aspects of the school model will be extended to international private schools, the education minister has previously suggested.
Recent developments have also included the introduction of moral education - which public and private schools both must teach - along with reform of the exams system and tougher teacher licensing requirements.
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
Killing of Qassem Suleimani
Mohammed bin Zayed Majlis
Mohammed bin Zayed Majlis
The%20specs
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PROFILE OF INVYGO
Started: 2018
Founders: Eslam Hussein and Pulkit Ganjoo
Based: Dubai
Sector: Transport
Size: 9 employees
Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri
more from Janine di Giovanni
COMPANY%20PROFILE
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Company%20profile
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MATCH INFO
Barcelona 5 (Lenglet 2', Vidal 29', Messi 34', 75', Suarez 77')
Valladolid 1 (Kiko 15')
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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.”
UAE currency: the story behind the money in your pockets
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FOLD%204
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The specs
Engine: 5.0-litre supercharged V8
Transmission: Eight-speed auto
Power: 575bhp
Torque: 700Nm
Price: Dh554,000
On sale: now
The%20team
%3Cp%3E%0DFashion%20director%3A%20Sarah%20Maisey%0D%3Cbr%3EPhotographer%3A%20Greg%20Adamski%0D%3Cbr%3EHair%20and%20make-up%3A%20Ania%20Poniatowska%0D%3Cbr%3EModels%3A%20Nyajouk%20and%20Kristine%20at%20MMG%2C%20and%20Mitchell%0D%3Cbr%3EStylist%E2%80%99s%20assistants%3A%20Nihala%20Naval%20and%20Sneha%20Maria%20Siby%0D%3Cbr%3EVideographer%3A%20Nilanjana%20Gupta%3C%2Fp%3E%0A
The%20specs
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Cinco in numbers
Dh3.7 million
The estimated cost of Victoria Swarovski’s gem-encrusted Michael Cinco wedding gown
46
The number, in kilograms, that Swarovski’s wedding gown weighed.
1,000
The hours it took to create Cinco’s vermillion petal gown, as seen in his atelier [note, is the one he’s playing with in the corner of a room]
50
How many looks Cinco has created in a new collection to celebrate Ballet Philippines’ 50th birthday
3,000
The hours needed to create the butterfly gown worn by Aishwarya Rai to the 2018 Cannes Film Festival.
1.1 million
The number of followers that Michael Cinco’s Instagram account has garnered.
UAE currency: the story behind the money in your pockets
UAE%20SQUAD
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Aayan%E2%80%99s%20records
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Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.
“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
Tips%20for%20holiday%20homeowners
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A Long Way Home by Peter Carey
Faber & Faber
Command%20Z
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