A global pledging conference for a vaccine for Covid-19, hosted by European leaders on Monday, almost met its target of raising €7.5 billion to discover, produce and distribute the treatment.
The deaths of more than 250,000 people around the world, with more than 140,000 in Europe, has led to a frantic search for a breakthrough to stop the spread of the coronavirus.
Ursula von der Leyen, head of the European Commission and the host of the online donor conference, said a vaccine was the best chance of beating the outbreak.
"I believe May 4 will mark a turning point in our fight against coronavirus because today the world is coming together," Ms von der Leyen said.
The conference, organised by countries in the EU, Britain, Norway, Japan, Canada and Saudi Arabia, gathered €7.4 billion (Dh29.62bn/US$8.07bn) in pledges to build on efforts by the World Bank, the Bill and Melinda Gates Foundation and wealthy donors.
Six countries and the Bill and Melinda Gates Foundation also announced separate financial pledges to Gavi, the Vaccine Alliance in what its chair, Dr Ngozi Okonjo-Iweala, described as "a massive vote of confidence". Gavi needs to raise a similar figure of about €7 billion for its work in the pandemic and to protect 300 million children in lower income countries against other deadly diseases until 2025. Its replenishment fund will conclude at the Global Vaccine Summit hosted by the UK government on June 4.
The UAE Minister of State for International Co-operation, Reem Al Hashimy, said at yesterday’s event that the Emirates would persevere tirelessly in the battle against pandemic.
“The UAE is already an urgent, dedicated and responsible actor in the fight against Covid-19 and will continue to work tirelessly at the forefront of the global response to this malicious and relentless threat," Ms Al Hashimy said.
"We have airlifted more than 472 tonnes of medical aid, personal protective equipment and supplies to 43 countries around the world.
"And our World Health Organisation hub in Dubai’s International Humanitarian City has processed more than 132 shipments and acted as the primary distribution point of PPE for the organisation.
"Thus far, $110 million has been allocated and dispatched."
Canadian Prime Minister Justin Trudeau said: "We will not be safe until we are able to share [a cure] with the world."
British Prime Minister Boris Johnson, who has recovered from his own fight with Covid-19, said the world needed to throw an "impregnable shield" around all people.
In a recorded video, he showed lingering effects of the disease.
"When we do find a vaccine, it’s vital that we are able to distribute it to everyone who needs it," Mr Johnson said.
"We're in this together and together we will defeat this virus."
Saudi Arabian Health Minister, Tawfiq Al Rabiah, addressed the meeting on behalf of the G20 forum of nations, of which his country holds the rotating presidency.
Mr Al Rabiah called on participants to close the funding gap.
"We must keep in mind the importance of safeguarding everyone's health globally," he said.
"Our primary responsibility is to make sure people are protected from this disease and to eliminate it."
King Abdullah II of Jordan told the meeting that the past months showed we all need each other to survive.
"In my region, failure is not an option," King Abdullah said. "Those who are most vulnerable in such difficult times are refugees and displaced communities."
German Chancellor Angela Merkel promised her country would back solutions that would make treatments available for “all people on Earth”.
Some of the hardest-hit European countries, including Italy and Spain, committed hundreds of millions of euros for the initiative.
“Common action is a must,” Mrs Merkel said. “Only joint, international, multilateral action will allow us to overcome the pandemic.”
There was no official US representation at the forum.
Japanese Prime Minister Shinzo Abe pledged for Japan.
China, where the outbreak originated late last year, was represented by its ambassador to the EU.
About 40 countries, along with UN, philanthropic bodies and research institutes were expected to make donations.
Melinda Gates of the Gates Foundation made a $100m pledge when she addressed the event.
US President Donald Trump last month declared that Washington would stop funding for the WHO.
Mr Trump criticised the agency for not holding China to account over its handling of the pandemic.
Two senior State Department officials on Monday declined to answer questions about the US absence from the pledging event.
The officials were asked six times but gave no answer. Instead, they promoted US efforts in trying to develop a vaccine and direct humanitarian efforts.
European officials were disappointed by the failure to engage the US with the call for funds.
"The EU responded favourably to a call for global action," an official said. "The US refused. They are the ones who are isolating themselves.
"But we are working very closely with very powerful American entities like the Bill and Melinda Gates Foundation, which has huge financial resources and great influence.
"We're only at the start of the process. We hope the American government will join the common effort."
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20WallyGPT%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2014%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ESaeid%20and%20Sami%20Hejazi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%3Cbr%3E%3Cstrong%3EInvestment%20raised%3A%20%3C%2Fstrong%3E%247.1%20million%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2020%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%20round%3C%2Fp%3E%0A
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
PRO BASH
Thursday’s fixtures
6pm: Hyderabad Nawabs v Pakhtoon Warriors
10pm: Lahore Sikandars v Pakhtoon Blasters
Teams
Chennai Knights, Lahore Sikandars, Pakhtoon Blasters, Abu Dhabi Stars, Abu Dhabi Dragons, Pakhtoon Warriors and Hyderabad Nawabs.
Squad rules
All teams consist of 15-player squads that include those contracted in the diamond (3), platinum (2) and gold (2) categories, plus eight free to sign team members.
Tournament rules
The matches are of 25 over-a-side with an 8-over power play in which only two fielders allowed outside the 30-yard circle. Teams play in a single round robin league followed by the semi-finals and final. The league toppers will feature in the semi-final eliminator.
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
Saudi Cup race day
Schedule in UAE time
5pm: Mohamed Yousuf Naghi Motors Cup (Turf), 5.35pm: 1351 Cup (T), 6.10pm: Longines Turf Handicap (T), 6.45pm: Obaiya Arabian Classic for Purebred Arabians (Dirt), 7.30pm: Jockey Club Handicap (D), 8.10pm: Samba Saudi Derby (D), 8.50pm: Saudia Sprint (D), 9.40pm: Saudi Cup (D)
PROFILE
Name: Enhance Fitness
Year started: 2018
Based: UAE
Employees: 200
Amount raised: $3m
Investors: Global Ventures and angel investors
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 CLOWN OF GAZA
Director: Abdulrahman Sabbah
Starring: Alaa Meqdad
Rating: 4/5
MATCH INFO
Europa League semi-final, second leg
Atletico Madrid (1) v Arsenal (1)
Where: Wanda Metropolitano
When: Thursday, kick-off 10.45pm
Live: On BeIN Sports HD
Profile
Company: Libra Project
Based: Masdar City, ADGM, London and Delaware
Launch year: 2017
Size: A team of 12 with six employed full-time
Sector: Renewable energy
Funding: $500,000 in Series A funding from family and friends in 2018. A Series B round looking to raise $1.5m is now live.
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Generational responses to the pandemic
Devesh Mamtani from Century Financial believes the cash-hoarding tendency of each generation is influenced by what stage of the employment cycle they are in. He offers the following insights:
Baby boomers (those born before 1964): Owing to market uncertainty and the need to survive amid competition, many in this generation are looking for options to hoard more cash and increase their overall savings/investments towards risk-free assets.
Generation X (born between 1965 and 1980): Gen X is currently in its prime working years. With their personal and family finances taking a hit, Generation X is looking at multiple options, including taking out short-term loan facilities with competitive interest rates instead of dipping into their savings account.
Millennials (born between 1981 and 1996): This market situation is giving them a valuable lesson about investing early. Many millennials who had previously not saved or invested are looking to start doing so now.
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
Brief scores:
Manchester United 4
Young 13', Mata 28', Lukaku 42', Rashford 82'
Fulham 1
Kamara 67' (pen),
Red card: Anguissa (68')
Man of the match: Juan Mata (Man Utd)
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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%3Cp%3E-%20Congress%20is%20one%20of%20three%20branches%20of%20the%20US%20government%2C%20and%20the%20one%20that%20creates%20the%20nation's%20federal%20laws%3C%2Fp%3E%0A%3Cp%3E-%20Congress%20is%20divided%20into%20two%20chambers%3A%20The%20House%20of%20Representatives%20and%20the%20Senate%3C%2Fp%3E%0A%3Cp%3E-%C2%A0The%20House%20is%20made%20up%20of%20435%20members%20based%20on%20a%20state's%20population.%20House%20members%20are%20up%20for%20election%20every%20two%20years%3C%2Fp%3E%0A%3Cp%3E-%20A%20bill%20must%20be%20approved%20by%20both%20the%20House%20and%20Senate%20before%20it%20goes%20to%20the%20president's%20desk%20for%20signature%3C%2Fp%3E%0A%3Cp%3E-%20A%20political%20party%20needs%20218%20seats%20to%20be%20in%20control%20of%20the%20House%20of%20Representatives%3C%2Fp%3E%0A%3Cp%3E-%20The%20Senate%20is%20comprised%20of%20100%20members%2C%20with%20each%20state%20receiving%20two%20senators.%20Senate%20members%20serve%20six-year%20terms%3C%2Fp%3E%0A%3Cp%3E-%20A%20political%20party%20needs%2051%20seats%20to%20control%20the%20Senate.%20In%20the%20case%20of%20a%2050-50%20tie%2C%20the%20party%20of%20the%20president%20controls%20the%20Senate%3C%2Fp%3E%0A
Tour de France Stage 16:
165km run from Le Puy-en-Velay to Romans-sur-Isère
Checks continue
A High Court judge issued an interim order on Friday suspending a decision by Agriculture Minister Edwin Poots to direct a stop to Brexit agri-food checks at Northern Ireland ports.
Mr Justice Colton said he was making the temporary direction until a judicial review of the minister's unilateral action this week to order a halt to port checks that are required under the Northern Ireland Protocol.
Civil servants have yet to implement the instruction, pending legal clarity on their obligations, and checks are continuing.
MATCH INFO
New Zealand 176-8 (20 ovs)
England 155 (19.5 ovs)
New Zealand win by 21 runs
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)