Scientists on Britain’s Science and Technology Committee have raised hopes of finding a successful Covid-19 vaccine, saying that the coronavirus is “more similar to other viral infections than it is different”.
Leading virus academics spoke about the response to the coronavirus pandemic via videoconference on Monday afternoon.
“Coronaviruses as a class and Covid-19 in particular – they do have unique features to them but they are more similar to other viral infections than they are different,” professor Sir John Bell, regius professor of medicine at the University of Oxford, said on the call.
“And they do produce the same general types of immune response that gives you hope that a vaccine might well work in this setting.”
Professor Massimo Palmarini, director of the University of Glasgow’s Centre for Virus Research, echoed Mr Bell’s sentiments.
“What brings optimism for many of us is that virus behaves as an acute respiratory infection and it induces a human antibody response – T-cell [cell central to immune response] responses overall that most patients are able to overcome.
“There are many aspects that one would think would lead to the possible host immune responses to provide for the development of a vaccine,” he added.
Mr Bell said that the reason why older people are more likely to be die from the virus than young people is likely because of the state of the person’s immune system.
“Seventy per cent of people who get this disease are asymptomatic. On one end of the spectrum, it’s not a bad viral disease and on the other end it is terrible.
“Understanding those age differences I think are pretty central and I would be surprised if the human immune system wasn’t central to that.”
Professor Adrian Hayday, chair in the department of immunobiology at King's College London, said more studies were needed on the interaction between the immune system and blood-clotting, as these were factors in causing death from Covid-19.
There are more than 200 candidates for a Covid-19 vaccine. On Monday, a Chinese biotech firm announced positive early results for its prototype, claiming it induced an immune response in 90 per cent of those who were given it. The vaccine, called CoronaVac is being developed by the company Sinovac.
On Saturday, pharmaceutical company AstraZeneca agreed with Europe’s Inclusive Vaccines Alliance to supply up to 400 million doses of the experimental Covid-19 vaccine it was making in collaboration with Oxford University.
The alliance, forged by France, Germany, Italy and the Netherlands to speed up production of a vaccine, is set to take delivery of the medicine by the end of this year. The four countries agreed to pay an initial €750 million (Dh3.1 billion) for 300 million doses, Reuters reported. The countries will have an option to buy another 100 million doses.
Despite the positive results in the race for inoculation against the virus, many believe it will probably be at least another year before a safe and effective vaccine is widely available to the public.
The Lowdown
Kesari
Rating: 2.5/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Anubhav Singh
Cast: Akshay Kumar, Parineeti Chopra
How much of your income do you need to save?
The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.
In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)
Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.
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BUNDESLIGA FIXTURES
Friday (all kick-offs UAE time)
Hertha Berlin v Union Berlin (10.30pm)
Saturday
Freiburg v Werder Bremen (5.30pm)
Paderborn v Hoffenheim (5.30pm)
Wolfsburg v Borussia Dortmund (5.30pm)
Borussia Monchengladbach v Bayer Leverkusen (5.30pm)
Bayern Munich v Eintracht Frankfurt (5.30pm)
Sunday
Schalke v Augsburg (3.30pm)
Mainz v RB Leipzig (5.30pm)
Cologne v Fortuna Dusseldorf (8pm)
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
Company%20profile
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The specs
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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.”
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.