• Nearly empty roads amid a phased lockdown due to Covid-19 in Shanghai, China. The country's largest city reported more than 13,000 daily Covid cases for the first time, as a sweeping lockdown of its 25 million residents and mass testing uncovered extensive spread of the highly infectious Omicron variant. Bloomberg
    Nearly empty roads amid a phased lockdown due to Covid-19 in Shanghai, China. The country's largest city reported more than 13,000 daily Covid cases for the first time, as a sweeping lockdown of its 25 million residents and mass testing uncovered extensive spread of the highly infectious Omicron variant. Bloomberg
  • Medical workers gather near a banner that reads 'Unite as one, resolutely win the battle against epidemic' during a departure ceremony before leaving for Shanghai, in Jinan, east China's Shandong Province. AP
    Medical workers gather near a banner that reads 'Unite as one, resolutely win the battle against epidemic' during a departure ceremony before leaving for Shanghai, in Jinan, east China's Shandong Province. AP
  • China has sent more than 10,000 health workers from across the country to Shanghai, including 2,000 military medical staff, as it struggles to tackle the rapidly spreading Covid-19 outbreak. AFP
    China has sent more than 10,000 health workers from across the country to Shanghai, including 2,000 military medical staff, as it struggles to tackle the rapidly spreading Covid-19 outbreak. AFP
  • Workers in protective suits direct residents lining up for Covid testing. Reuters
    Workers in protective suits direct residents lining up for Covid testing. Reuters
  • Medical workers and volunteers in a compound where residents are being tested for Covid-19. AFP
    Medical workers and volunteers in a compound where residents are being tested for Covid-19. AFP
  • Authorities are building the world’s largest makeshift isolation centre to help contain the outbreak in Shanghai. AFP
    Authorities are building the world’s largest makeshift isolation centre to help contain the outbreak in Shanghai. AFP
  • A delivery man arranges his orders during lockdown in the Jingan district of western Shanghai. AP
    A delivery man arranges his orders during lockdown in the Jingan district of western Shanghai. AP
  • A worker in protective gear chats with residents outside shuttered shops in the Jingan district of western Shanghai. AP
    A worker in protective gear chats with residents outside shuttered shops in the Jingan district of western Shanghai. AP
  • The number of cases continues to rise in Shanghai and Jilin, a north-eastern province. AP
    The number of cases continues to rise in Shanghai and Jilin, a north-eastern province. AP
  • Residents wait to submit samples for tests at a community centre in the Pudong New Area of Shanghai. AP
    Residents wait to submit samples for tests at a community centre in the Pudong New Area of Shanghai. AP
  • A person walks a dog. Reuters
    A person walks a dog. Reuters
  • Policemen wearing protective gear on a street during patrols. AFP
    Policemen wearing protective gear on a street during patrols. AFP
  • Workers remove their protective gear at the entrance of a neighbourhood. AFP
    Workers remove their protective gear at the entrance of a neighbourhood. AFP
  • Food shortages and shuttered manufacturing plants have hit residents hard. AFP
    Food shortages and shuttered manufacturing plants have hit residents hard. AFP
  • Workers unload groceries from a truck before distributing them to residents. AP
    Workers unload groceries from a truck before distributing them to residents. AP
  • A man helps a woman to consume a packet of traditional Chinese medicine, as she sits by the side of a road outside a residential compound. Reuters
    A man helps a woman to consume a packet of traditional Chinese medicine, as she sits by the side of a road outside a residential compound. Reuters
  • Empty highways at night in Shanghai. Bloomberg
    Empty highways at night in Shanghai. Bloomberg

No more needles: China begins oral Covid-19 vaccine handout


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For those afraid of needles, the coronavirus pandemic has been a difficult time, with two initial shots and then follow-up boosters. But the Chinese city of Shanghai has solved that issue with a new inhalable Covid-19 vaccine.

The vaccine, delivered in a mist, is currently being offered free of charge as a booster dose for previously vaccinated people, according to an announcement on an official city social media account.

A video posted by an online Chinese state media outlet showed people at a community health centre placing a translucent white cup on to their mouths. The accompanying text said that, after slowly inhaling, people hold their breath for five seconds, with the entire procedure completed in 20 seconds.

“It was like drinking a cup of milk tea,” one Shanghai resident said in the video. “When I breathed it in, it tasted a bit sweet.”

The Covid vaccine developed by Chinese biopharmaceutical company CanSino is seen in Shanghai. AP
The Covid vaccine developed by Chinese biopharmaceutical company CanSino is seen in Shanghai. AP

But it is not only the squeamish who will benefit from the new delivery method: scientists hope that such “needle-free” vaccines will make vaccination more accessible in countries with fragile health systems because they are easier to administer.

China wants more people to get booster shots before it relaxes strict pandemic restrictions that are holding back the economy and are increasingly out of synch with the rest of the world. As of mid-October, 90 per cent of Chinese were fully vaccinated and 57 per cent had received a booster shot.

The effectiveness of non-needle vaccines has not been fully explored. Chinese regulators approved the new inhalable in September, but only as a booster shot after studies suggested it triggered an immune response in people who had previously received two shots of a different vaccine.

A vaccine taken orally could fend off the virus before it reaches the rest of the respiratory system, though that would depend in part on the size of the droplets, one expert said.

Larger droplets would train defences in parts of the mouth and throat, while smaller ones would travel further into the body, Indian immunologist Dr Vineeta Bal told The Associated Press.

The inhalable vaccine was developed by Chinese biopharmaceutical company CanSino Biologics as an aerosol version of the company’s one-shot adenovirus vaccine, which uses a relatively harmless cold virus.

The traditional one-shot vaccine has been approved for use in more than 10 markets including China, Hungary, Pakistan, Malaysia, Argentina and Mexico. The inhaled version has received a go-ahead for clinical trials in Malaysia, a Malaysian media report said last month.

Regulators in India have approved a nasal vaccine, another needle-free approach, but it has yet to be rolled out. The vaccine, developed in the US and licensed to Indian vaccine maker Bharat Biotech, is squirted in the nose.

About a dozen nasal vaccines are being tested globally, the World Health Organisation said.

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

Traits of Chinese zodiac animals

Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent   

MATCH INFO

AC Milan v Inter, Sunday, 6pm (UAE), match live on BeIN Sports

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Newcastle United 0 Tottenham Hotspur 2
Tottenham (Alli 61'), Davies (70')
Red card Jonjo Shelvey (Newcastle)

Company profile

Name: Thndr

Started: October 2020

Founders: Ahmad Hammouda and Seif Amr

Based: Cairo, Egypt

Sector: FinTech

Initial investment: pre-seed of $800,000

Funding stage: series A; $20 million

Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC,  Rabacap and MSA Capital

Updated: October 26, 2022, 3:39 PM