Boris Johnson is among the world leaders who signed a letter calling for an international treaty to tackle future pandemics. Reuters
Boris Johnson is among the world leaders who signed a letter calling for an international treaty to tackle future pandemics. Reuters
Boris Johnson is among the world leaders who signed a letter calling for an international treaty to tackle future pandemics. Reuters
Boris Johnson is among the world leaders who signed a letter calling for an international treaty to tackle future pandemics. Reuters

World leaders call for global treaty to tackle future pandemics


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More than 20 world leaders have called for a new global treaty to help the world better prepare for future pandemics.

Leaders including Britain’s Boris Johnson, Germany’s Angela Merkel, France's Emmanuel Macron, South Korea's Moon Jae-in and South Africa's Cyril Ramaphosa called for universal access to vaccines.

They said the Covid-19 crisis had exposed the world’s “weaknesses and divisions”, while another pandemic was a matter of “not if, but when”.

Dr Tedros Adhanom Ghebreyesus, the head of the World Health Organisation, said the world could not afford to wait until the pandemic was over to start planning for the next one.

More than 2.8 million have died from Covid-19 worldwide, Johns Hopkins University figures show. About 27 million have been infected by the virus first detected in China in late 2019.

The spread of the virus has led to blame being traded between capitals and accusations of rich nations hoarding vaccines as economies around the world took a battering.

The call came as the UK government signed a new deal with GlaxoSmithKline to bottle 60 million vaccine doses at a factory in north-east England.

UK's Business Secretary Kwasi Kwarteng said on Tuesday that Britain would only share vaccines when there was excess supply.

“Our focus has to be to try and keep Britain safe,” he told Sky News.

“If there are surplus vaccines, then we can share them, but there is not a surplus at the moment.”

The 24 signatories of Tuesday's letter, In an article published in newspapers around the world, said that a treaty similar to that signed in the wake of the Second World War was needed to build cross-border co-operation.

"We believe that nations should work together towards a new international treaty for pandemic preparedness and response," the letter said.

"Such a renewed collective commitment would be a milestone in stepping up pandemic preparedness at the highest political level."

The op-ed said the treaty should be aimed at "greatly enhancing international co-operation" on alert systems, data-sharing and research to help track rising threats and the production of vaccines, medicines and protective equipment to tackle diseases.

"Together, we must be better prepared to predict, prevent, detect, assess and effectively respond to pandemics in a highly co-ordinated fashion," the leaders said.

"At a time when Covid-19 has exploited our weaknesses and divisions, we must seize this opportunity and come together as a global community for peaceful co-operation that extends beyond this crisis."

The treaty – first proposed by President of the European Council Charles Michel to the UN last year – would probably be the focus of major international wrangling.

Mr Michel said the Covid-19 outbreak had taught the world the "brutal lesson" that no country or continent on its own could defeat a health emergency.

He said the global community needed to "build a pandemic defence for future generations that extends far beyond today's crisis. For this, we must translate the political will into concrete actions".

Dr Tedros said: “Without an internationally co-ordinated, all of government, all of society, one-health approach to pandemic preparedness and response, we remain vulnerable.

“It (the pandemic) has shown how much we need a universal commitment to basic public health principles as the foundation for our work to prevent, detect and respond to epidemic and pandemic threats.

“The idea behind the proposal for such a treaty is to systematically tackle the gaps exposed by Covid-19.

“The world has come together as never before to take on this crisis.”

On Tuesday, the treaty received the formal backing of the leaders of Fiji, Portugal, Romania, Britain, Rwanda, Kenya, France, Germany, Greece, Korea, Chile, Costa Rica, Albania, South Africa, Trinidad and Tobago, the Netherlands, Tunisia, Senegal, Spain, Norway, Serbia, Indonesia, Ukraine and the WHO.

Leaders from key world powers including the United States, China, Russia and Japan were not among the signatories.

But those who did put their names to the plan said they were "committed to ensuring universal and equitable access to safe, efficacious and affordable vaccines, medicines and diagnostics for this and future pandemics".

"We must be guided by solidarity, fairness, transparency, inclusiveness and equity," they wrote.

Name: Brendalle Belaza

From: Crossing Rubber, Philippines

Arrived in the UAE: 2007

Favourite place in Abu Dhabi: NYUAD campus

Favourite photography style: Street photography

Favourite book: Harry Potter

What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
Fifa Club World Cup quarter-final

Esperance de Tunis 0
Al Ain 3
(Ahmed 02’, El Shahat 17’, Al Ahbabi 60’)

Emirates exiles

Will Wilson is not the first player to have attained high-class representative honours after first learning to play rugby on the playing fields of UAE.

Jonny Macdonald
Abu Dhabi-born and raised, the current Jebel Ali Dragons assistant coach was selected to play for Scotland at the Hong Kong Sevens in 2011.

Jordan Onojaife
Having started rugby by chance when the Jumeirah College team were short of players, he later won the World Under 20 Championship with England.

Devante Onojaife
Followed older brother Jordan into England age-group rugby, as well as the pro game at Northampton Saints, but recently switched allegiance to Scotland.

Who's who in Yemen conflict

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

'Joker'

Directed by: Todd Phillips

Starring: Joaquin Phoenix

Rating: Five out of five stars

UAE currency: the story behind the money in your pockets
Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
  • Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.

 

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
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UAE currency: the story behind the money in your pockets
New schools in Dubai
Third Test

Day 3, stumps

India 443-7 (d) & 54-5 (27 ov)
Australia 151

India lead by 346 runs with 5 wickets remaining

Naga
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Muslim Council of Elders condemns terrorism on religious sites

The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.

It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.

“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.

The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.

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.”

MATCH INFO

Uefa Champions League quarter-final, second leg (first-leg score):

Manchester City (0) v Tottenham Hotspur (1), Wednesday, 11pm UAE

Match is on BeIN Sports

At Eternity’s Gate

Director: Julian Schnabel

Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen

Three stars

Brief scoreline:

Tottenham 1

Son 78'

Manchester City 0

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Warlight,
Michael Ondaatje, Knopf 

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

What is blockchain?

Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.

The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.

Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.

However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.

Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.

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MATCH INFO

CAF Champions League semi-finals first-leg fixtures

Tuesday:

Primeiro Agosto (ANG) v Esperance (TUN) (8pm UAE)
Al Ahly (EGY) v Entente Setif (ALG) (11PM)

Second legs:

October 23

UAE Premiership

Results

Dubai Exiles 24-28 Jebel Ali Dragons
Abu Dhabi Harlequins 43-27 Dubai Hurricanes

Final
Abu Dhabi Harlequins v Jebel Ali Dragons, Friday, March 29, 5pm at The Sevens, Dubai

What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

The President's Cake

Director: Hasan Hadi

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

Rating: 4/5