Italian authorities receive the first of 249,600 doses of AstraZeneca’s Covid-19 vaccine at an air base near Rome. EPA
Italian authorities receive the first of 249,600 doses of AstraZeneca’s Covid-19 vaccine at an air base near Rome. EPA
Italian authorities receive the first of 249,600 doses of AstraZeneca’s Covid-19 vaccine at an air base near Rome. EPA
Italian authorities receive the first of 249,600 doses of AstraZeneca’s Covid-19 vaccine at an air base near Rome. EPA

AstraZeneca vaccine arrives in EU as bloc speeds up inoculation


Neil Murphy
  • English
  • Arabic

AstraZeneca’s coronavirus vaccine has at last arrived in the EU as the bloc tries to speed up its lagging inoculation campaign.

France started administering shots on Saturday, with priority to healthcare workers, after its first batch arrived on Friday evening. Germany, Ireland, Spain and Austria will also start offering the vaccine, and Portugal will receive deliveries early next week.

The doses are transported mostly by lorry . Their arrival is a welcome development for the EU, which has spent the past few weeks in a public row with AstraZeneca over vaccine targets.

Yet governments remain worried about delays given thousands are still dying daily. They’re also sticking with lockdowns to control the spread of the virus, particularly as more contagious new variants emerge.

Italy will begin administering doses of AstraZeneca’s Covid-19 vaccine despite a public spat with the British-Swedish drugmaker. EPA.
Italy will begin administering doses of AstraZeneca’s Covid-19 vaccine despite a public spat with the British-Swedish drugmaker. EPA.

Germany is likely to extend its Covid-19 restrictions for another two weeks when Chancellor Angela Merkel and state government leaders meet next week, people familiar with the discussions told Bloomberg. On Friday, Greece tightened restrictions on movement and shopping.

Despite the slow start, the European Commission is sticking to a plan to have 70 per cent of the adult population vaccinated by late summer. It expects the pace will pick up rapidly in the coming months, with deliveries of at least 300 million doses in the second quarter.

Amid ongoing worry about delays, a group of EU leaders urged European Commission President Ursula Von der Leyen to conclude talks with other vaccine developers, such as Novovax and Valneva. They also highlighted risks surrounding the decision of Johnson & Johnson to ship vaccines to the US for packaging.

The J&J product “may be a potential game changer due to easier storage and transport as well as requirement of only one dose,” the leaders said in the letter, obtained by Bloomberg.

AstraZeneca’s shot is the third to be cleared by the EU’s drug regulator. It approved BioNTech and Pfizer’s vaccine in December, and Moderna’s last month.

Many countries approached the AstraZeneca vaccine with caution, recommending it only for those aged under 65. But governments are still counting on it to speed up the inoculation effort.

German Health Minister Jens Spahn said on Friday the arrival of the vaccine would double the country’s capacity. The AstraZeneca shot will initially be given primarily to healthcare workers aged 64 and younger, allowing those above 65 to be vaccinated more quickly with either of the other two.

In Vienna, the additional supply will enable the Austrian capital to administer 28,600 doses next week, twice as many as in the week of February 1.

As governments try to move on from the vaccine debacle, they also want to prevent high-profile blunders undermining public confidence. Mr Spahn emphasised that point on Friday, saying all approved products are equally good for under-65s.

“We have with all three vaccines effective tools to fight this pandemic,” he said in Berlin. “We hope and expect that even more will soon follow.”

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENamara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJune%202022%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EMohammed%20Alnamara%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EMicrofinance%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E16%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFamily%20offices%0D%3Cbr%3E%3C%2Fp%3E%0A

THE SPECS

Aston Martin Rapide AMR

Engine: 6.0-litre V12

Transmission: Touchtronic III eight-speed automatic

Power: 595bhp

Torque: 630Nm

Price: Dh999,563

Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

Graduated from the American University of Sharjah

She is the eldest of three brothers and two sisters

Has helped solve 15 cases of electric shocks

Enjoys travelling, reading and horse riding

 

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.”

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Homie%20Portal%20LLC%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20End%20of%202021%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EAbdulla%20Al%20Kamda%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20Undisclosed%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2014%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ELaunch%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self-funded%3C%2Fp%3E%0A
THE SPECS

BMW X7 xDrive 50i

Engine: 4.4-litre V8

Transmission: Eight-speed Steptronic transmission

Power: 462hp

Torque: 650Nm

Price: Dh600,000

Red Joan

Director: Trevor Nunn

Starring: Judi Dench, Sophie Cookson, Tereza Srbova

Rating: 3/5 stars

PROFILE OF CURE.FIT

Started: July 2016

Founders: Mukesh Bansal and Ankit Nagori

Based: Bangalore, India

Sector: Health & wellness

Size: 500 employees

Investment: $250 million

Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)

Ukraine

Capital: Kiev

Population: 44.13 million

Armed conflict in Donbass

Russia-backed fighters control territory

RedCrow Intelligence Company Profile

Started: 2016

Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel 

Based: Ramallah, Palestine

Sector: Technology, Security

# of staff: 13

Investment: $745,000

Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors

Expo details

Expo 2020 Dubai will be the first World Expo to be held in the Middle East, Africa and South Asia

The world fair will run for six months from October 20, 2020 to April 10, 2021.

It is expected to attract 25 million visits

Some 70 per cent visitors are projected to come from outside the UAE, the largest proportion of international visitors in the 167-year history of World Expos.

More than 30,000 volunteers are required for Expo 2020

The site covers a total of 4.38 sqkm, including a 2 sqkm gated area

It is located adjacent to Al Maktoum International Airport in Dubai South

Western Clubs Champions League:

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