Indian prime minister Narendra Modi pledged usage of his country's vaccine production facilities in his UNGA address. AP
Indian prime minister Narendra Modi pledged usage of his country's vaccine production facilities in his UNGA address. AP
Indian prime minister Narendra Modi pledged usage of his country's vaccine production facilities in his UNGA address. AP
Indian prime minister Narendra Modi pledged usage of his country's vaccine production facilities in his UNGA address. AP

UNGA 2020: Modi pledges India's vaccine capacity for ‘all humanity’


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Indian Prime Minister Narendra Modi pledged at the United Nations on Saturday that his country's vaccine production capacity would be made available globally to fight the Covid-19 crisis.

"As the largest vaccine-producing country of the world, I want to give one more assurance to the global community today," Mr Modi said in a pre-recorded speech to the UN General Assembly. "India's vaccine production and delivery capacity will be used to help all humanity in fighting this crisis."

  • Juan Carlos Lara, 59, a patient with Covid-19, is surrounded by health workers in the Intensive Care Unit of the Rebagliati Hospital, in Lima, Peru. AFP
    Juan Carlos Lara, 59, a patient with Covid-19, is surrounded by health workers in the Intensive Care Unit of the Rebagliati Hospital, in Lima, Peru. AFP
  • Over 8,000 flags, representing the number of Covid-19 deaths in Massachusetts, are seen placed in the yard of Mike Labbe in Grafton, Massachusetts, US. EPA
    Over 8,000 flags, representing the number of Covid-19 deaths in Massachusetts, are seen placed in the yard of Mike Labbe in Grafton, Massachusetts, US. EPA
  • Customers get a haircut at a barbershop in the southern neighbourhood of Vallecas, Madrid, Spain. AP Photo
    Customers get a haircut at a barbershop in the southern neighbourhood of Vallecas, Madrid, Spain. AP Photo
  • People wear face masks as Knott's Berry Farm opens a Halloween-themed attraction in Buena Park, California, US. Reuters
    People wear face masks as Knott's Berry Farm opens a Halloween-themed attraction in Buena Park, California, US. Reuters
  • People ride a motorcycle in the rain in Hyderabad, India. AP Photo
    People ride a motorcycle in the rain in Hyderabad, India. AP Photo
  • A healthcare worker communicates with a fellow doctors via Laluchy Robotina, a robot designed to aid in the mental health of patients infected with the new coronavirus, at 20 de November National Medical Centre in Mexico City. AP Photo
    A healthcare worker communicates with a fellow doctors via Laluchy Robotina, a robot designed to aid in the mental health of patients infected with the new coronavirus, at 20 de November National Medical Centre in Mexico City. AP Photo
  • People walk in front of the Duomo gothic cathedral in Milan, Italy. AP Photo
    People walk in front of the Duomo gothic cathedral in Milan, Italy. AP Photo
  • Visitors enjoy a ride during the reopening of Disneyland to the public in Hong Kong, China. Reuters
    Visitors enjoy a ride during the reopening of Disneyland to the public in Hong Kong, China. Reuters
  • People wear face masks after the southern Italian region of Campania made it mandatory to wear protective face coverings outdoors in Naples, Italy. Reuters
    People wear face masks after the southern Italian region of Campania made it mandatory to wear protective face coverings outdoors in Naples, Italy. Reuters
  • Democratic Vice Presidential Candidate Kamala Harris talks with Senator Amy Klobuchar and Senator Kirsten Gillibrand before the start of a ceremony to honour the late Associate Justice Ruth Bader Ginsburg in the Statuary Hall of the US Capitol, Washington, DC, US. Reuters
    Democratic Vice Presidential Candidate Kamala Harris talks with Senator Amy Klobuchar and Senator Kirsten Gillibrand before the start of a ceremony to honour the late Associate Justice Ruth Bader Ginsburg in the Statuary Hall of the US Capitol, Washington, DC, US. Reuters
  • Voters wait for their turn at a polling station during a state election on the outskirts of Kota Kinabalu, in Malaysia's Sabah state. AP Photo
    Voters wait for their turn at a polling station during a state election on the outskirts of Kota Kinabalu, in Malaysia's Sabah state. AP Photo
  • Ushers take a rest on the sidelines of the Beijing International Automotive Exhibition, or Auto China show, in Beijing, China. Reuters
    Ushers take a rest on the sidelines of the Beijing International Automotive Exhibition, or Auto China show, in Beijing, China. Reuters

Mr Modi said India was moving ahead with Phase 3 clinical trials – the large-scale trials considered the gold standard for determining safety and efficacy – and would help all countries enhance their cold chain and storage capacities for the delivery of vaccines.

Mr Modi said in August that India was ready to mass-produce Covid-19 vaccines when scientists gave the go-ahead.

UN chief Antonio Guterres has been pushing for a "people's vaccine" that is available and affordable everywhere and expressed concern on Tuesday that some countries were "reportedly making side deals exclusively for their own populations."

"Such 'vaccinationalism' is not only unfair, it is self-defeating. None of us is safe until all of us are safe. Everybody knows that," he told the General Assembly

Australian Prime Minister Scott Morrison told the General Assembly on Friday: "Whoever finds the vaccine must share it."

"Some might see short-term advantage, or even profit," Mr Morrison said. "But I assure you to anyone who may think along those lines, humanity will have a very long memory and be a very, very severe judge.

"Australia's pledge is clear: if we find the vaccine, we will share it. That's the pledge we all must make," Mr Morrison said.

Pope Francis told the United Nations on Friday that the poor and weakest members of society should get preferential treatment when a coronavirus vaccine is ready.

India, the world's second-most populous country after China, has recorded more than 5.8 million cases of Covid-19, second only behind the United States.

Its death toll as of this week was more than 90,000 and it has consistently reported the highest tally of daily cases anywhere in the world as a dense population and often rudimentary healthcare infrastructure hamper attempts to control the pandemic.

The Old Slave and the Mastiff

Patrick Chamoiseau

Translated from the French and Creole by Linda Coverdale

Company profile

Name: Steppi

Founders: Joe Franklin and Milos Savic

Launched: February 2020

Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year

Employees: Five

Based: Jumeirah Lakes Towers, Dubai

Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings

Second round raised Dh720,000 from silent investors in June this year

At Everton Appearances: 77; Goals: 17

At Manchester United Appearances: 559; Goals: 253

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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.”

Russia's Muslim Heartlands

Dominic Rubin, Oxford

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

Brief scores:

Kashima Antlers 0

River Plate 4

Zuculini 24', Martinez 73', 90 2', Borre 89' (pen)

The%20Woman%20King%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Gina%20Prince-Bythewood%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Viola%20Davis%2C%20Thuso%20Mbedu%2C%20Sheila%20Atim%2C%20Lashana%20Lynch%2C%20John%20Boyega%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Asia Cup Qualifier

Final
UAE v Hong Kong

TV:
Live on OSN Cricket HD. Coverage starts at 5.30am

Frankenstein in Baghdad
Ahmed Saadawi
​​​​​​​Penguin Press

MATCH INFO

Manchester United 2 (Heaton (og) 42', Lindelof 64')

Aston Villa 2 (Grealish 11', Mings 66')

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4-litre%20flat-six%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E525hp%20(GT3)%2C%20500hp%20(GT4)%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E465Nm%20(GT3)%2C%20450Nm%20(GT4)%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20automatic%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh944%2C000%20(GT3)%2C%20Dh581%2C700%20(GT4)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3C%2Fp%3E%0A
The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en