A woman receives the Oxford/AstraZeneca Covid19 vaccine. EPA
A woman receives the Oxford/AstraZeneca Covid19 vaccine. EPA
A woman receives the Oxford/AstraZeneca Covid19 vaccine. EPA
A woman receives the Oxford/AstraZeneca Covid19 vaccine. EPA

EU still struggles to get Covid-19 vaccine drive up to speed


Soraya Ebrahimi
  • English
  • Arabic

Two months after delivering its first vaccine shots, the EU is still struggling to get its Covid-19 inoculation drive up to speed.

EU leaders are meeting on Thursday to start the process, fearing that new virus variants might spread faster than Europe’s response.

At the video conference, the leaders will look at ways to improve the bloc’s vaccine introduction as the EU’s executive arm, the European Commission, presses pharmaceutical companies to respect the terms of their contracts.

Officials also want to fast-track vaccine authorisations.

More than 21 million coronavirus cases have been recorded and about 515,000 people have died from it in the EU’s 27 countries, the European Centre for Disease Protection and Control said.

Italy, France, Germany and Spain have the most coronavirus deaths in the EU, although all trail Britain, which has Europe’s highest virus death toll at more than 121,000.

Czech Prime Minister Andrej Babis is worried about “a total catastrophe” with overburdened hospitals.

Germany fears the effects of new variants and the Netherlands is seeing a surge in cases.

Given the spread of the disease, there should be little appetite to ease up on travel and other restrictions too soon.

“The epidemiological situation remains serious and the new variants pose additional challenges,” the leaders will say, according to a draft summit statement seen by AP.

"We must therefore uphold tight restrictions while stepping up efforts to accelerate the provision of vaccines."

But public pressure to relax measures is building.

The Netherlands has eased some lockdown measures in what Prime Minister Mark Rutte called a calculated risk to make the year-long crisis “bearable.”

Denmark just allowed some high school pupils to return to classes.

In Belgium, Jean-Marc Nollet, head of the francophone Greens party that is part of the ruling coalition, openly said he no longer followed his own government’s limits on social contacts.

“I am a human being and human contact is something vital,” Mr Nollet said.

But the leaders will say that the crisis is far from over, especially as vaccine production lags behind.

“We need to urgently accelerate the authorisation, production and distribution of vaccines, as well as vaccination," the leaders will say.

"We also need to enhance our surveillance and detection capacity in order to identify variants as early as possible so as to control their spread."

The commission has sealed deals with several companies for well over 2 billion vaccine shots, far more than the EU population of about 450 million.

But only three have been authorised: vaccines from Pfizer-BioNTech, Moderna and AstraZeneca, which all involve two shots over several weeks.

In March, the bloc could also authorise the Johnson & Johnson one-shot vaccine.

But the EU was heavily criticised for taking almost a month longer than Britain to approve the first vaccines and for lagging so far behind in vaccinating its people.

The leaders’ debate will focus as much on speeding up authorisations as boosting vaccine production and cutting delivery bottlenecks.

Commission Vice President Maros Sefcovic said one way might be to “agree upon legislation to allow for the emergency authorisation of vaccines at the EU level".

"To date, this is only possible at national level,” Mr Sefcovic said.

And as curfew-weary, mask-wearing European citizens hope for relief and the prospect of a real summer holiday this year, the summit will focus on when to ease restrictions.

Leaders will also look at the possibility of a future vaccination certificate so people can travel more conveniently.

Such a certificate has been demanded by southern EU nations that depend heavily on tourism, and they consider it a way to avert a second disastrous summer season.

One official from an EU nation said talks would also centre on ways to dovetail any vaccine certificate with similar efforts at the World Health Organisation, the Organisation for Economic Co-operation and Development and the International Air Transport Association.

But European travel restrictions do not look like they will be eased any time soon.

Belgium, home to the EU’s institutions, has a ban on all non-essential travel, which could remain until the end of March.

The country has been criticised by some neighbours for what they see as a disproportionate use of border controls.

“For the time being, non-essential travel needs to be restricted,” the leaders say in their statement, which still could be modified.

But they say “the unhindered flow of goods and services within the single market must be ensured".

With leaders conscious that the pandemic will not end unless it is defeated everywhere, summit talks will also touch on getting vaccines to other countries in need, notably in Africa, through the UN-backed Covax programme.

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Company profile

Name: Tratok Portal

Founded: 2017

Based: UAE

Sector: Travel & tourism

Size: 36 employees

Funding: Privately funded

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Christoph Ribbat
Translated by Jamie Searle Romanelli
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Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Intercontinental Cup

Namibia v UAE Saturday Sep 16-Tuesday Sep 19

Table 1 Ireland, 89 points; 2 Afghanistan, 81; 3 Netherlands, 52; 4 Papua New Guinea, 40; 5 Hong Kong, 39; 6 Scotland, 37; 7 UAE, 27; 8 Namibia, 27

The major Hashd factions linked to Iran:

Badr Organisation: Seen as the most militarily capable faction in the Hashd. Iraqi Shiite exiles opposed to Saddam Hussein set up the group in Tehran in the early 1980s as the Badr Corps under the supervision of the Iran Revolutionary Guards Corps (IRGC). The militia exalts Iran’s Supreme Leader Ali Khamenei but intermittently cooperated with the US military.

Saraya Al Salam (Peace Brigade): Comprised of former members of the officially defunct Mahdi Army, a militia that was commanded by Iraqi cleric Moqtada Al Sadr and fought US and Iraqi government and other forces between 2004 and 2008. As part of a political overhaul aimed as casting Mr Al Sadr as a more nationalist and less sectarian figure, the cleric formed Saraya Al Salam in 2014. The group’s relations with Iran has been volatile.

Kataeb Hezbollah: The group, which is fighting on behalf of the Bashar Al Assad government in Syria, traces its origins to attacks on US forces in Iraq in 2004 and adopts a tough stance against Washington, calling the United States “the enemy of humanity”.

Asaeb Ahl Al Haq: An offshoot of the Mahdi Army active in Syria. Asaeb Ahl Al Haq’s leader Qais al Khazali was a student of Mr Al Moqtada’s late father Mohammed Sadeq Al Sadr, a prominent Shiite cleric who was killed during Saddam Hussein’s rule.

Harakat Hezbollah Al Nujaba: Formed in 2013 to fight alongside Mr Al Assad’s loyalists in Syria before joining the Hashd. The group is seen as among the most ideological and sectarian-driven Hashd militias in Syria and is the major recruiter of foreign fighters to Syria.

Saraya Al Khorasani:  The ICRG formed Saraya Al Khorasani in the mid-1990s and the group is seen as the most ideologically attached to Iran among Tehran’s satellites in Iraq.

(Source: The Wilson Centre, the International Centre for the Study of Radicalisation)

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Rating: 1/5

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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.”

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What sanctions would be reimposed?

Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:

  • An arms embargo
  • A ban on uranium enrichment and reprocessing
  • A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
  • A targeted global asset freeze and travel ban on Iranian individuals and entities
  • Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

COMPANY PROFILE

Company name: Blah

Started: 2018

Founder: Aliyah Al Abbar and Hend Al Marri

Based: Dubai

Industry: Technology and talent management

Initial investment: Dh20,000

Investors: Self-funded

Total customers: 40

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The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

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Best Academy: Ajax and Benfica

Best Agent: Jorge Mendes

Best Club : Liverpool   

 Best Coach: Jurgen Klopp (Liverpool)  

 Best Goalkeeper: Alisson Becker

 Best Men’s Player: Cristiano Ronaldo

 Best Partnership of the Year Award by SportBusiness: Manchester City and SAP

 Best Referee: Stephanie Frappart

Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)

Best Sporting Director: Andrea Berta (Atletico Madrid)

Best Women's Player:  Lucy Bronze

Best Young Arab Player: Achraf Hakimi

 Kooora – Best Arab Club: Al Hilal (Saudi Arabia)

 Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)

 Player Career Award: Miralem Pjanic and Ryan Giggs

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Caroline Sullivan
Carlton Books

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