Even as scientists race to develop a Covid-19 vaccine, nations are vying to grab huge supplies before anyone else.
Australia has just become the latest, having signed deals securing 85 million vaccine doses – more than triple its population. But the scramble for supplies is sparking accusations of “vaccine nationalism” with poor countries being left behind, and fears that politics rather than science is influencing vaccine development.
What is 'vaccine nationalism'?
The global effort to develop a Covid-19 vaccine began in January, just days after the disease was identified. But fears quickly emerged that rich countries would hoard the first supplies to treat their own populations – as happened with early treatments for the disease.
In an attempt to head off the problem, in April the World Health Organisation introduced Covax, a global initiative to support vaccine research with the aim of getting two billion doses to every nation by the end of 2021. So far, 172 countries have signed up.
So why is there a problem?
While more than 160 vaccines are in development around the world, the vast majority are expected to fail. Only a handful are serious contenders in the race – and the governments of rich nations are paying billions to get to the front of the queue for the first supplies.
According to an analysis by the Wall Street Journal, the US, EU, Japan and the UK together have options to buy more than 3.7 billion doses from western pharmaceutical companies – locking up most of the world's production capacity.
The UK government is currently the biggest player, having signed deals for hundreds of millions of doses spread across several candidate vaccines – including one developed by the University of Oxford and AstraZeneca, which remains a strong contender despite one volunteer becoming ill among the tens of thousands currently involved in international trials, which have now been paused pending safety checks.
Why the need for such vast supplies?
Partly because governments need to hedge their bets: no one knows which vaccine will work.
The Oxford/AstraZeneca vaccine is based on genetically modified human cells with coronavirus-like characteristics. Once injected into patients, these can train the immune system to recognise and defeat the real virus.
Another UK deal involves a more conventional vaccine being developed in France, using a real but deactivated Covid-19 virus.
Even if these vaccines do work, they may need more than one dose, and possibly also boosters – pushing demand higher.
Doesn’t being first also carry risks?
Vaccines are usually clinically tested on tens of thousands of people before being approved for general use. Yet even the most thorough trials lack the power to detect unusual side effects – especially among the vulnerable, who are usually excluded from such testing.
With billions of people ultimately needing protection, a 99.99 per cent safe vaccine could still lead to hundreds of thousands of seriously ill people globally.
Couldn’t rich countries donate surplus supplies to other nations?
Leading public health experts have called for nations to show fairness in their use of the first supplies of the vaccine.
Jeremy Farrar, director of the UK charity Wellcome Trust, made a public plea in The Guardian for nations to put frontline healthcare workers and the most vulnerable ahead of the general population.
However, the UK has yet to commit to pooling any surplus supplies, while the US and Russia have both declined to join the Covax initiative, relieving them of any obligations.
So when might the first vaccine be ready?
If President Vladimir Putin is to be believed, it already is: last month he declared that Russia had become the first country to approve a Covid-19 vaccine. Dubbed Sputnik-V, it is already being administered to volunteers – including one of Mr Putin's daughters.
The announcement was greeted with scepticism by independent experts, underlined by the results from a small trial published in The Lancet.
Confusion also surrounds US President Donald Trump's announcement this week that "We'll have the vaccine soon, maybe before a special date. You know what date I'm talking about" – taken by many to be a reference to November 3, the date of the US presidential election.
US health officials familiar with Operation Warp Speed – the US vaccination development programme – have downplayed such a possibility.
The most promising candidate remains the Oxford/AstraZeneca vaccine, with the pause in international trials expected to be temporary and possibly ending in a matter of days.
And will that mark the end of the pandemic?
An effective vaccine will certainly be a major step towards controlling the virus. However, health experts insist the pandemic will only end if the vaccine is globally available.
As the emergence of Covid-19 showed, just a small outbreak in one country can lead to catastrophe.
Calling for a collective global response, WHO director general Tedros Adhanom Ghebreyesus said: "No one is safe until everyone is safe."
Robert Matthews is visiting professor of science at Aston University, Birmingham, UK
LA LIGA FIXTURES
Thursday (All UAE kick-off times)
Sevilla v Real Betis (midnight)
Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
Espanyol v Alaves (4pm)
Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
Sunday
Atletic Bilbao v Atletico Madrid (4pm)
Real Madrid v Eibar (9.30pm)
Real Sociedad v Osasuna (midnight)
UAE currency: the story behind the money in your pockets
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
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Killing of Qassem Suleimani
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
Getting%20there%20and%20where%20to%20stay
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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.”
Five healthy carbs and how to eat them
Brown rice: consume an amount that fits in the palm of your hand
Non-starchy vegetables, such as broccoli: consume raw or at low temperatures, and don’t reheat
Oatmeal: look out for pure whole oat grains or kernels, which are locally grown and packaged; avoid those that have travelled from afar
Fruit: a medium bowl a day and no more, and never fruit juices
Lentils and lentil pasta: soak these well and cook them at a low temperature; refrain from eating highly processed pasta variants
Courtesy Roma Megchiani, functional nutritionist at Dubai’s 77 Veggie Boutique
5 of the most-popular Airbnb locations in Dubai
Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:
• Dubai Marina
The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.
Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739
Two bedroom: Dh627 to Dh960
Three bedroom: Dh721 to Dh1,104
• Downtown
Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure. “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."
Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154
• City Walk
The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena. “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”
Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809
Two bedroom: Dh682 to Dh1,052
Three bedroom: Dh784 to Dh1,210
• Jumeirah Lake Towers
Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.
Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629
Two bedroom: Dh549 to Dh818
Three bedroom: Dh631 to Dh941
• Palm Jumeirah
Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.
Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770
Two bedroom: Dh654 to Dh1,002
Three bedroom: Dh752 to Dh1,152
Zimbabwe v UAE, ODI series
All matches at the Harare Sports Club:
1st ODI, Wednesday, April 10
2nd ODI, Friday, April 12
3rd ODI, Sunday, April 14
4th ODI, Tuesday, April 16
UAE squad: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
The%20specs%3A%20Taycan%20Turbo%20GT
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TO ALL THE BOYS: ALWAYS AND FOREVER
Directed by: Michael Fimognari
Starring: Lana Condor and Noah Centineo
Two stars
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
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5