Germany has recommended the Oxford/AstraZeneca vaccine should only be given to people aged under 65.
The country’s vaccine committee said there was insufficient data to prove the medicine was effective among older people.
The European Medicines Agency is expected to make a decision on whether to approve AstraZeneca's Covid-19 vaccine on Friday.
Germany's surprise recommendation came a day after AstraZeneca's factory in Belgium was raided by investigators.
The EU's executive branch requested the investigation due to doubts over AstraZeneca's explanation of an expected shortfall in vaccine deliveries to the bloc.
The pharmaceutical company blamed production issues at the Brussels plant for the shortages.
The Belgian federal medicines agency took samples and records from the plant on Wednesday and a further inspection of the facility is expected in the coming days.
The EU requested some British-manufactured AstraZeneca vaccines be redirected to Europe but the company declined.
In a move that could prevent millions of doses from entering Britain, the EU said on Thursday it would give national regulators the power to block vaccine exports if they are not "legitimate".
European Council President Charles Michel welcomed the move, saying: "The EU needs to take robust action to secure its supply of vaccines and demonstrate concretely that the protection of its citizens remains our absolute priority."
The criteria for blocking exports is set to be published on Friday. UK ministers earlier insisted there would be no interruption to vaccine supplies.
"It is the case that the supplies that have been planned, paid for and scheduled should continue," UK Cabinet Office minister Michael Gove said.
The shot is currently being delivered to people in the UK aged 18 and over.
But the German health ministry said: "There are currently insufficient data available to assess the vaccine efficacy from 65 years of age.
"The AstraZeneca vaccine, unlike the mRNA vaccines, should only be offered to people aged 18-64 years at each stage."
AstraZeneca disputed the German regulator's findings said the latest clinical trial data for its vaccine "support efficacy in the over 65 years age group".
Prime Minister Boris Johnson said the UK's regulators had concluded that the AstraZeneca/Oxford shot was "very good and efficacious".
"It gives a high degree of protection after just one dose, even more after two doses. And the evidence that they've seen, that they've supplied, is that they think it is effective across all age groups, providing a good immune response across all age groups," he said.
"So I don't agree with that."
German media reports this week said officials feared the vaccine may not be approved in the EU for use in the elderly.
The same media reports also suggested German officials believed the efficacy rate among over-65s could be as low as 8 per cent.
The claim was refuted by AstraZeneca and the German government, which suggested the efficacy rate could have been confused with the number of participants aged 56 to 69 in clinical trials, which was about 8 per cent.
The German health ministry said of the 341 people vaccinated in the group aged 65 and over in Oxford's clinical trials only one became infected with coronavirus, meaning the vaccine committee had not been able to derive a statistically significant statement.
AstraZeneca chief executive Pascal Soriot said the company had less data than other drug makers on the elderly because it started vaccinating older people later.
"But we have strong data showing very strong antibody production against the virus in the elderly, similar to what we see in younger people," he told Die Welt newspaper this week.
Meanwhile, police arrested a 53-year-old man from Kent, in southern England, over a suspicious package that was sent to a factory that manufactures doses of the AstraZeneca vaccine.
The factory in Wales was evacuated but workers were able to return to the site after police cleared the package.
"There is no evidence to suggest there is an ongoing threat," police said.
In pictures - coronavirus around the world
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
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Fixtures
Tuesday - 5.15pm: Team Lebanon v Alger Corsaires; 8.30pm: Abu Dhabi Storms v Pharaohs
Wednesday - 5.15pm: Pharaohs v Carthage Eagles; 8.30pm: Alger Corsaires v Abu Dhabi Storms
Thursday - 4.30pm: Team Lebanon v Pharaohs; 7.30pm: Abu Dhabi Storms v Carthage Eagles
Friday - 4.30pm: Pharaohs v Alger Corsaires; 7.30pm: Carthage Eagles v Team Lebanon
Saturday - 4.30pm: Carthage Eagles v Alger Corsaires; 7.30pm: Abu Dhabi Storms v Team Lebanon
MATCH INFO
Euro 2020 qualifier
Fixture: Liechtenstein v Italy, Tuesday, 10.45pm (UAE)
TV: Match is shown on BeIN Sports
Company%20Profile
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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.”