Samples of the University of Oxford coronavirus vaccine trials are handled at a laboratory. AP
Samples of the University of Oxford coronavirus vaccine trials are handled at a laboratory. AP
Samples of the University of Oxford coronavirus vaccine trials are handled at a laboratory. AP
Samples of the University of Oxford coronavirus vaccine trials are handled at a laboratory. AP

Coronavirus: UK vaccine trial shows ‘promising’ early results


Paul Peachey
  • English
  • Arabic

A potential coronavirus vaccine being developed in the UK is showing positive results, according to a paper published in medical journal The Lancet.

The study, conducted by the University of Oxford and involving more than 1,000 volunteers, found that the vaccine was safe and triggered a response within 14 days that could help the body attack infected cells.

Researchers said it was too early to say whether the vaccine would be effective after one or two doses and continue to work for at least six months.

The team announced in May that it was recruiting more than 10,000 people for a second phase of trials in the UK, Brazil and South Africa.

Some volunteers reported experiencing fatigue and headaches after being given the vaccine but found the pain decreased after taking paracetamol.

If the vaccine, which was developed from a highly modified virus that causes the common cold in chimpanzees, proved to be effective, it could be manufactured on large scale.

British Prime Minister Boris Johnson welcomed the results of the study in a message on Twitter.

Prof Sarah Gilbert, who is heading the programme, said she was optimistic about the results.

“There is still much work to be done before we can confirm if our vaccine will help manage the Covid-19 pandemic, but these early results hold promise," she said.

The UK government has already signed a deal with the university and pharmaceutical company AstraZeneca to produce 100 million doses for the UK.

Shares in the company were up 0.4 per cent on the day after the positive findings were flagged last week.

"Today’s data increases our confidence that the vaccine will work and allows us to continue our plans to manufacture the vaccine at scale for broad and equitable access around the world," said Mene Pangalos, an executive vice president at AstraZeneca.

The study follows positive news from the US last week, when biotech company Moderna said it would start the final stage of trials on its vaccine this month after initial tests on a small group of volunteers were successful.

A development team including Pfizer and BioNTech also said two of four possible vaccines received "fast-track" designation from US officials.

The Oxford study was released as the UK government signed deals for 90 million doses of promising vaccines from the Pfizer consortium and vaccine specialist Valneva.

The British government is also investing in the expansion of a Valneva factory in Livingston, Scotland.

If the Oxford vaccine proves to be successful, it could provide enough doses for frontline health and social care workers and people in greater danger of dying if they become infected.

AstraZeneca will also supply treatment for people who cannot take vaccines on medical grounds.

“This new partnership with some of the world’s foremost pharmaceutical and vaccine companies will ensure the UK has the best chance possible of securing a vaccine that protects those most at risk," British Business Secretary Alok Sharma said.

Kate Bingham, who heads the government’s vaccine task force, said played down how successful a vaccine could be in the fight against the virus.

“The fact remains we may never get a vaccine and if we do get one, we have to be prepared that it may not be a vaccine which prevents getting the virus, but rather one that reduces symptoms," she said.

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The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

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UAE currency: the story behind the money in your pockets

The Book of Collateral Damage

Sinan Antoon

(Yale University Press)

PREMIER LEAGUE FIXTURES

Saturday (UAE kick-off times)

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Brighton v Arsenal (6pm)

West Ham v Wolves (8.30pm)

Bournemouth v Crystal Palace (10.45pm)

Sunday

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Aston Villa v Chelsea (7.15pm)

Everton v Liverpool (10pm)

Monday

Manchester City v Burnley (11pm)

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FIRST TEST SCORES

England 458
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England won by 211 runs and lead series 1-0

Player of the match: Moeen Ali (England)

 

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
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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

The specs: 2018 Maserati Levante S

Price, base / as tested: Dh409,000 / Dh467,000

Engine: 3.0-litre V6

Transmission: Eight-speed automatic

Power: 430hp @ 5,750rpm

Torque: 580Nm @ 4,500rpm

Fuel economy, combined: 10.9L / 100km

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Arabian Gulf Cup FINAL

Al Nasr 2

(Negredo 1, Tozo 50)

Shabab Al Ahli 1

(Jaber 13)