Covifenz was manufactured by biopharma company Medicago and GlaxoSmithKline. Getty Images
Covifenz was manufactured by biopharma company Medicago and GlaxoSmithKline. Getty Images
Covifenz was manufactured by biopharma company Medicago and GlaxoSmithKline. Getty Images
Covifenz was manufactured by biopharma company Medicago and GlaxoSmithKline. Getty Images

Canada to use world’s first plant-based Covid vaccine


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Canadian regulators on Thursday announced that the country will use the world’s first plant-derived Covid-19 vaccine.

The vaccine, named Covifenz, was jointly developed by Medicago, a biopharma company owned by Mitsubishi Chemical and Philip Morris, based in Quebec City, and GlaxoSmithKline.

The two-dose vaccine can be given to adults between 18 and 64 years old.

The Quebec-based privately held company has an agreement to supply up to 76 million doses to the Canadian government.

“We're at a stage where we're ramping up capacity to meet the supply agreement,” said Marc-Andre D’Aoust, Medicago's executive vice president of innovation, development and medical affairs.

Medicago said it was committed to fulfilling the order as soon as possible.

The decision was based on a study of 24,000 adults that found the vaccine was 71 per cent effective at preventing Covid-19.

Side effects were mild and included fever and fatigue.

The study was conducted before the Omicron variant emerged.

Medicago uses plants as living factories to grow virus-like particles, which copy the spike protein that coats the coronavirus. The particles are removed from the plants’ leaves and then purified.

  • The oxygen saturation monitor on the Apple Watch measures SPo2 and is 'very close to the clinical result', said Dr Habib. EPA
    The oxygen saturation monitor on the Apple Watch measures SPo2 and is 'very close to the clinical result', said Dr Habib. EPA
  • Dr Habib advised patients with chronic health problems to buy a pulse oximeter to monitor their blood oxygen levels, an important signal that could help diagnose an infection from afar. EPA
    Dr Habib advised patients with chronic health problems to buy a pulse oximeter to monitor their blood oxygen levels, an important signal that could help diagnose an infection from afar. EPA
  • 'These wearable devices won’t give you a specific diagnosis for an illness or disease, but it will show you if something is unusual,' said Dr Habib. Antonie Robertson/The National
    'These wearable devices won’t give you a specific diagnosis for an illness or disease, but it will show you if something is unusual,' said Dr Habib. Antonie Robertson/The National
  • Fitness trackers can record daily steps, sleep patterns, calorie intake, mood and progress towards exercise goals. AP
    Fitness trackers can record daily steps, sleep patterns, calorie intake, mood and progress towards exercise goals. AP
  • Tech firm Biospectal developed the OptiBP app that allows blood pressure to be monitored effectively using a smartphone’s camera. Photo: Biospectal
    Tech firm Biospectal developed the OptiBP app that allows blood pressure to be monitored effectively using a smartphone’s camera. Photo: Biospectal
  • Telehealth is becoming a fundamental feature of every corporate health plan in the UAE. Reuters
    Telehealth is becoming a fundamental feature of every corporate health plan in the UAE. Reuters

An immune-boosting chemical called an adjuvant, made by British partner GlaxoSmithKline, is then added to the shots.

Medicago plans to test the shot in children and as a booster dose for adults, Mr D’Aoust said.

The immunisation was granted fast-track designation by the US Food and Drug Administration in February last year.

The Canadian government on Thursday announced it was lifting the emergency powers it enacted more than a week ago to bring street protests under control, with Prime Minister Justin Trudeau saying the authority is no longer needed.

The protests were initially against Canada’s Covid-19 vaccination requirements for lorry drivers transporting goods across the US border, before they expanded into a campaign against the country's broader coronavirus restrictions.

  • A man stands in front of a police officer as lorry drivers and supporters continue to protest against Covid-19 vaccine mandates, in Ottawa, Canada. Reuters
    A man stands in front of a police officer as lorry drivers and supporters continue to protest against Covid-19 vaccine mandates, in Ottawa, Canada. Reuters
  • A protester sings 'O Canada' as she is arrested after trying to push through a line of police officers. AP
    A protester sings 'O Canada' as she is arrested after trying to push through a line of police officers. AP
  • A protest lorry is towed. AFP
    A protest lorry is towed. AFP
  • Police hold a line as they work to bring a protest to an end. AP
    Police hold a line as they work to bring a protest to an end. AP
  • Police make an arrest. AP
    Police make an arrest. AP
  • A protester kneels in front of police officers. Reuters
    A protester kneels in front of police officers. Reuters
  • A demonstrator wears a tinfoil hat in front of a row of police. Reuters
    A demonstrator wears a tinfoil hat in front of a row of police. Reuters
  • A protester films on his phone during a police stand-off with demonstrators. AFP
    A protester films on his phone during a police stand-off with demonstrators. AFP
  • A protester is helped away after injuring his knee when a police line surged forward. AP
    A protester is helped away after injuring his knee when a police line surged forward. AP
  • Police clutch their batons as they move protesters back. AP
    Police clutch their batons as they move protesters back. AP
  • A demonstrator confronts police. AFP
    A demonstrator confronts police. AFP

Agencies contributed to this report.

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PROFILE

Name: Enhance Fitness 

Year started: 2018 

Based: UAE 

Employees: 200 

Amount raised: $3m 

Investors: Global Ventures and angel investors 

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AUSTRALIA SQUAD

Aaron Finch, Matt Renshaw, Brendan Doggett, Michael Neser, Usman Khawaja, Shaun Marsh, Mitchell Marsh, Tim Paine (captain), Travis Head, Marnus Labuschagne, Nathan Lyon, Jon Holland, Ashton Agar, Mitchell Starc, Peter Siddle

RESULT

Wolves 1 (Traore 67')

Tottenham 2 (Moura 8', Vertonghen 90 1')

Man of the Match: Adama Traore (Wolves)

Dhadak

Director: Shashank Khaitan

Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana

Stars: 3

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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.”

PSA DUBAI WORLD SERIES FINALS LINE-UP

Men’s:
Mohamed El Shorbagy (EGY)
Ali Farag (EGY)
Simon Rosner (GER)
Tarek Momen (EGY)
Miguel Angel Rodriguez (COL)
Gregory Gaultier (FRA)
Karim Abdel Gawad (EGY)
Nick Matthew (ENG)

Women's:
Nour El Sherbini (EGY)
Raneem El Welily (EGY)
Nour El Tayeb (EGY)
Laura Massaro (ENG)
Joelle King (NZE)
Camille Serme (FRA)
Nouran Gohar (EGY)
Sarah-Jane Perry (ENG)

Dunki
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Rajkumar%20Hirani%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Shah%20Rukh%20Khan%2C%20Taapsee%20Pannu%2C%20Vikram%20Kochhar%20and%20Anil%20Grover%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Schedule for show courts

Centre Court - from 4pm UAE time

Johanna Konta (6) v Donna Vekic

Andy Murray (1) v Dustin Brown

Rafael Nadal (4) v Donald Young

 

Court 1 - from 4pm UAE time

Kei Nishikori (9) v Sergiy Stakhovsky

Qiang Wang v Venus Williams (10)

Beatriz Haddad Maia v Simona Halep (2)

 

Court 2 - from 2.30pm

Heather Watson v Anastasija Sevastova (18)

Jo-Wilfried Tsonga (12) v Simone Bolelli

Florian Mayer v Marin Cilic (7)

 

Updated: February 25, 2022, 9:04 AM