• A healthcare worker prepares a dose of the Pfizer-BioNtech Covid-19 vaccine at a large vaccination centre open by the Tel Aviv-Yafo Municipality and Tel Aviv Sourasky Medical Center. AFP
    A healthcare worker prepares a dose of the Pfizer-BioNtech Covid-19 vaccine at a large vaccination centre open by the Tel Aviv-Yafo Municipality and Tel Aviv Sourasky Medical Center. AFP
  • Tanna Ingraham places a sheet over the body of a patient who died inside the coronavirus disease (COVID-19) unit at United Memorial Medical Center in Houston, Texas. Reuters
    Tanna Ingraham places a sheet over the body of a patient who died inside the coronavirus disease (COVID-19) unit at United Memorial Medical Center in Houston, Texas. Reuters
  • Sons of Veronica Ferreira, 73, who passed away due to the coronavirus disease (COVID-19), attend her burial at the Parque Taruma cemetery in Manaus, Brazil. Reuters
    Sons of Veronica Ferreira, 73, who passed away due to the coronavirus disease (COVID-19), attend her burial at the Parque Taruma cemetery in Manaus, Brazil. Reuters
  • A Florida Department of Health medical worker prepares to administer a COVID-19 vaccine in the parking lot of the Gulf View Square Mall in New Port Richey near Tampa, Florida. Reuters
    A Florida Department of Health medical worker prepares to administer a COVID-19 vaccine in the parking lot of the Gulf View Square Mall in New Port Richey near Tampa, Florida. Reuters
  • A pedestrian walks past members of the New York Police Department who were clearing streets to prevent people watching New Year's Eve celebrations in the Times Square area of New York. Bloomberg
    A pedestrian walks past members of the New York Police Department who were clearing streets to prevent people watching New Year's Eve celebrations in the Times Square area of New York. Bloomberg
  • A man wearing a face mask to help curb the spread of the coronavirus holds incense offers prayers on the first day of the New Year at Yonghegong Lama Temple in Beijing. AP Photo
    A man wearing a face mask to help curb the spread of the coronavirus holds incense offers prayers on the first day of the New Year at Yonghegong Lama Temple in Beijing. AP Photo
  • Sanjana Krishnan holds up pieces of a paper while wearing a New Year’s Eve crown as healthcare workers treat patients infected with the coronavirus disease (COVID-19) at United Memorial Medical Center in Houston, Texas, U.S. Reuters
    Sanjana Krishnan holds up pieces of a paper while wearing a New Year’s Eve crown as healthcare workers treat patients infected with the coronavirus disease (COVID-19) at United Memorial Medical Center in Houston, Texas, U.S. Reuters
  • Visitors pray for their health, property and a good future during their first visit of the new year at Meiji Shrine in Tokyo. EPA
    Visitors pray for their health, property and a good future during their first visit of the new year at Meiji Shrine in Tokyo. EPA
  • A nurse she works during the New Year at a field hospital set up at a sports gym to treat patients suffering with the coronavirus disease (COVID-19) in Santo Andre, Sao Paulo state, Brazil. Reuters
    A nurse she works during the New Year at a field hospital set up at a sports gym to treat patients suffering with the coronavirus disease (COVID-19) in Santo Andre, Sao Paulo state, Brazil. Reuters
  • Passengers wearing protective face masks ride a crowded subway on New Year's Eve in Wuhan, China. EPA
    Passengers wearing protective face masks ride a crowded subway on New Year's Eve in Wuhan, China. EPA
  • Visitors walk after they arrived at the Soekarno-Hatta Airport following Indonesia's government decision to ban foreign tourists from entry to prevent the spread of coronavirus disease (COVID-19), in Tangerang, on the outskirts of Jakarta, Indonesia. Reuters
    Visitors walk after they arrived at the Soekarno-Hatta Airport following Indonesia's government decision to ban foreign tourists from entry to prevent the spread of coronavirus disease (COVID-19), in Tangerang, on the outskirts of Jakarta, Indonesia. Reuters
  • A healthcare worker shows his coworker a note written by a patient with the coronavirus disease (COVID-19) at United Memorial Medical Center in Houston, Texas. Reuters
    A healthcare worker shows his coworker a note written by a patient with the coronavirus disease (COVID-19) at United Memorial Medical Center in Houston, Texas. Reuters

BioNTech founder Ugur Sahin warns of holes in vaccine production


Simon Rushton
  • English
  • Arabic

Vaccine manufacturer BioNTech-Pfizer is trying to ramp up production to fill the gap provided by a lack of other drugs to fight coronavirus.
Ugur Sahin, co-founder or BioNTech, said they needed to boost manufacturing capabilities but it was not a simple cases of finding new production lines.
The German biotech start-up has led the vaccine race but its shot has been slow to arrive in the European Union because of relatively late approval from the bloc's health regulator and the small size of the order placed by Brussels.

The United States ordered 600 million doses of the BioNTech/Pfizer shot in July, while the EU waited until November to place an order half that size.

Professor Sahin warned there would be gaps in supply until other vaccines were rolled out.
"We are lacking other approved vaccines and we have to fill this gap with our vaccine," he said.
"We are trying to find new co-operation partners to produce for us. But it's not as if there were specialised unused factories lying around across the world that could produce vaccines of the required quality from one day to the next.

"You can't just switch over, from producing vaccines instead of aspirin or cough syrup. The process requires years of expertise and the appropriate structural and technological equipment," he added.
The delays in rolling out the home-grown vaccine have caused consternation in Germany, where some regions had to halt vaccinations within days of starting an inoculation drive.

"At the moment it doesn't look good – a hole is appearing because there's a lack of other approved vaccines and we have to fill the gap with our own vaccine," Prof Sahin said.

BioNTech hopes to launch a new production line in Marburg, Germany, before schedule in February, with the potential to produce 250 million doses in the first half of 2021, Prof Sahin said.

Talks are also taking place with contract manufacturers and there should be greater clarity by the end of January, he added.

Health Minister Jens Spahn said on Twitter that German authorities would do everything possible to enable a swift start in Marburg.

The federal government, which has backed BioNTech with 375 million euros ($458 million) in funding, has resisted calls from opposition leaders to speed production of its vaccine by issuing compulsory licences to other drugmakers.

Another vaccine from Moderna is expected to be cleared by the European Medicines Agency (EMA) on January 6.

Mr Spahn has also urged the EMA to quickly approve the Oxford University-AstraZeneca shot cleared by Britain. The EU timeline for that treatment remains uncertain.

That vaccine was approved by India's drug regulator on Friday for emergency use, two sources with knowledge of the matter told Reuters.

KEY%20DATES%20IN%20AMAZON'S%20HISTORY
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Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

Cricket World Cup League Two

Oman, UAE, Namibia

Al Amerat, Muscat

 

Results

Oman beat UAE by five wickets

UAE beat Namibia by eight runs

 

Fixtures

Wednesday January 8 –Oman v Namibia

Thursday January 9 – Oman v UAE

Saturday January 11 – UAE v Namibia

Sunday January 12 – Oman v Namibia

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

%E2%80%98FSO%20Safer%E2%80%99%20-%20a%20ticking%20bomb
%3Cp%3EThe%20%3Cem%3ESafer%3C%2Fem%3E%20has%20been%20moored%20off%20the%20Yemeni%20coast%20of%20Ras%20Issa%20since%201988.%3Cbr%3EThe%20Houthis%20have%20been%20blockading%20UN%20efforts%20to%20inspect%20and%20maintain%20the%20vessel%20since%202015%2C%20when%20the%20war%20between%20the%20group%20and%20the%20Yemen%20government%2C%20backed%20by%20the%20Saudi-led%20coalition%20began.%3Cbr%3ESince%20then%2C%20a%20handful%20of%20people%20acting%20as%20a%20%3Ca%20href%3D%22https%3A%2F%2Fwww.google.ae%2Furl%3Fsa%3Dt%26rct%3Dj%26q%3D%26esrc%3Ds%26source%3Dweb%26cd%3D%26ved%3D2ahUKEwiw2OfUuKr4AhVBuKQKHTTzB7cQFnoECB4QAQ%26url%3Dhttps%253A%252F%252Fwww.thenationalnews.com%252Fworld%252Fmena%252Fyemen-s-floating-bomb-tanker-millions-kept-safe-by-skeleton-crew-1.1104713%26usg%3DAOvVaw0t9FPiRsx7zK7aEYgc65Ad%22%20target%3D%22_self%22%3Eskeleton%20crew%3C%2Fa%3E%2C%20have%20performed%20rudimentary%20maintenance%20work%20to%20keep%20the%20%3Cem%3ESafer%3C%2Fem%3E%20intact.%3Cbr%3EThe%20%3Cem%3ESafer%3C%2Fem%3E%20is%20connected%20to%20a%20pipeline%20from%20the%20oil-rich%20city%20of%20Marib%2C%20and%20was%20once%20a%20hub%20for%20the%20storage%20and%20export%20of%20crude%20oil.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EThe%20%3Cem%3ESafer%3C%2Fem%3E%E2%80%99s%20environmental%20and%20humanitarian%20impact%20may%20extend%20well%20beyond%20Yemen%2C%20experts%20believe%2C%20into%20the%20surrounding%20waters%20of%20Saudi%20Arabia%2C%20Djibouti%20and%20Eritrea%2C%20impacting%20marine-life%20and%20vital%20infrastructure%20like%20desalination%20plans%20and%20fishing%20ports.%C2%A0%3C%2Fp%3E%0A
WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

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%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EEric%20Barbier%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EYoussef%20Hajdi%2C%20Nadia%20Benzakour%2C%20Yasser%20Drief%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

MATCH INFO

Barcelona 2
Suarez (10'), Messi (52')

Real Madrid 2
Ronaldo (14'), Bale (72')

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

T20 World Cup Qualifier

Final: Netherlands beat PNG by seven wickets

Qualified teams

1. Netherlands
2. PNG
3. Ireland
4. Namibia
5. Scotland
6. Oman

T20 World Cup 2020, Australia

Group A: Sri Lanka, PNG, Ireland, Oman
Group B: Bangladesh, Netherlands, Namibia, Scotland

Signs%20of%20%20%20%20%20%20%20heat%20stroke
%3Cul%3E%0A%3Cli%3EThe%20loss%20of%20sodium%20chloride%20in%20our%20sweat%20can%20lead%20to%20confusion%20and%20an%20altered%20mental%20status%20and%20slurred%20speech%3C%2Fli%3E%0A%3Cli%3EBody%20temperature%20above%2039%C2%B0C%3C%2Fli%3E%0A%3Cli%3EHot%2C%20dry%20and%20red%20or%20damp%20skin%20can%20indicate%20heatstroke%3C%2Fli%3E%0A%3Cli%3EA%20faster%20pulse%20than%20usual%3C%2Fli%3E%0A%3Cli%3EDizziness%2C%20nausea%20and%20headaches%20are%20also%20signs%20of%20overheating%3C%2Fli%3E%0A%3Cli%3EIn%20extreme%20cases%2C%20victims%20can%20lose%20consciousness%20and%20require%20immediate%20medical%20attention%3C%2Fli%3E%0A%3C%2Ful%3E%0A
The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

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.”