• A woman visits her husband at a retirement home in Bourbourg (North of France), where a double entry bubble has been installed to allow visits without risk of contamination. AFP
    A woman visits her husband at a retirement home in Bourbourg (North of France), where a double entry bubble has been installed to allow visits without risk of contamination. AFP
  • Dominic Cummings, the embattled special advisor for Britain's Prime Minister Boris Johnson arrives at his house in London, Britain. Reuters
    Dominic Cummings, the embattled special advisor for Britain's Prime Minister Boris Johnson arrives at his house in London, Britain. Reuters
  • Rashad, a volunteer with the grassroots charity Hunger has no Religion, instructs children to maintain social distancing in Johannesburg during an Eid Al Fitr meal distributed to hundreds in the neighbourhoods of Westbury and Coronationville. AFP
    Rashad, a volunteer with the grassroots charity Hunger has no Religion, instructs children to maintain social distancing in Johannesburg during an Eid Al Fitr meal distributed to hundreds in the neighbourhoods of Westbury and Coronationville. AFP
  • A health worker takes samples from a man to test him for Covid-19 coronavirus, at the Biological Sciences unit of the National Polytechnic Institute in Mexico City. AFP
    A health worker takes samples from a man to test him for Covid-19 coronavirus, at the Biological Sciences unit of the National Polytechnic Institute in Mexico City. AFP
  • Nurse Ivanna Banshchikova visits a woman at home in Moscow. AFP
    Nurse Ivanna Banshchikova visits a woman at home in Moscow. AFP
  • Schoolchildren receive face masks from the director at a primary school in the district of Attecoube in Abidjan on the first day day after resumption of classes. AFP
    Schoolchildren receive face masks from the director at a primary school in the district of Attecoube in Abidjan on the first day day after resumption of classes. AFP
  • An orphan plays with her new hula hoop during an Eid Al Fitr food and toy distribution for total about 500 orphans in 11 orphanages in Nairobi, Kenya. AFP
    An orphan plays with her new hula hoop during an Eid Al Fitr food and toy distribution for total about 500 orphans in 11 orphanages in Nairobi, Kenya. AFP
  • People queue to undergo Covid-19 tests, in San Salvador. El Salvador's government urged the population to comply with preventive measures to stop the growing spread of the coronavirus, which has reached almost 2,000 cases in the country. AFP
    People queue to undergo Covid-19 tests, in San Salvador. El Salvador's government urged the population to comply with preventive measures to stop the growing spread of the coronavirus, which has reached almost 2,000 cases in the country. AFP
  • A healthcare worker holds a sign reading "14 per cent of healthcare workers in Madrid are infected" during a protest calling for a reinforced healthcare system outside the Gregorio Maranon hospital in Madrid, as Spain loosens its national lockdown. AFP
    A healthcare worker holds a sign reading "14 per cent of healthcare workers in Madrid are infected" during a protest calling for a reinforced healthcare system outside the Gregorio Maranon hospital in Madrid, as Spain loosens its national lockdown. AFP
  • Taiwan President Tsai Ing-wen waves after inspecting the military police headquarters in Taipei. AFP
    Taiwan President Tsai Ing-wen waves after inspecting the military police headquarters in Taipei. AFP
  • A patient is carried to be transferred on an ambulance boat from the community of Portel to a hospital in Breves, on Marajo island, Para state, Brazil. AFP
    A patient is carried to be transferred on an ambulance boat from the community of Portel to a hospital in Breves, on Marajo island, Para state, Brazil. AFP
  • A man wearing a protective mask uses a cellphone as he sits on a bench near Shinagawa station on the first day after the Japanese government lifted the state of emergency in Tokyo, Japan. Reuters
    A man wearing a protective mask uses a cellphone as he sits on a bench near Shinagawa station on the first day after the Japanese government lifted the state of emergency in Tokyo, Japan. Reuters
  • A motorist arranges fruits and vegetables for sale next to her vehicle, as an alternative mobile grocery stall on the outskirts of Nairobi, Kenya. Reuters
    A motorist arranges fruits and vegetables for sale next to her vehicle, as an alternative mobile grocery stall on the outskirts of Nairobi, Kenya. Reuters

Oxford Covid-19 vaccine trial running out of UK virus exposure to complete tests


Nicky Harley
  • English
  • Arabic

Leading UK scientists racing to develop a Covid-19 vaccine are concerned that as the virus diminishes in Britain their tests may not be effective.

Researchers at the University of Oxford's Jenner Institute and the Oxford Vaccine Group are warning that their initial hope of an 80 per cent success rate for the vaccine has now dropped to 50 per cent.

"It is a race, yes. But it's not a race against the other guys. It's a race against the virus disappearing, and against time," Professor Adrian Hill told the Telegraph newspaper.

We're in the bizarre position of wanting Covid to stay, at least for a little while. But cases are declining

“We said earlier this year that there was an 80 per cent chance of developing an effective vaccine by September. But at the moment, there’s a 50 per cent chance that we get no result at all.

“We’re in the bizarre position of wanting Covid to stay, at least for a little while. But cases are declining."

It comes as the number of deaths in the UK related to Covid-19 increased by 118 on Sunday, bringing the total to 36,793 since the outbreak began.

The number of people dying after testing positive for the virus has fallen steadily since the peak of the country’s outbreak last month, when almost 1,000 people were dying daily.

The researchers are now testing an experimental vaccine with a goal of immunising 10,000 people to determine if the shot works.

The team began vaccinating more than 1,000 volunteers in a preliminary study designed to test the shot’s safety.

While awaiting results, the team announced they were expanding the testing to 10,260 people across Britain, including older people and children.

The announcement comes as Chinese scientists developing a similar vaccine reported promising results from their own early testing, seeing hoped-for immune reactions without serious side effects in 108 vaccinated people.

Andrew Pollard, head of the Oxford Vaccine Group, says if it all goes smoothly it is hoped that from autumn the vaccine will be approved for use on a wider scale.

However, he said there are still many challenges ahead, including how long it will take to prove the vaccine works – particularly since transmission has dropped significantly in Britain – and any potential manufacturing complications.

The Oxford trial involves one of around a dozen experimental Covid-19 vaccines in the early stages of human testing. It remains unclear, however, that any will ultimately prove safe and effective.

Drugmaker AstraZeneca has said it has secured its first agreements to produce 400 million doses of the Oxford-developed vaccine.

The AstraZeneca investment hopefully will make the vaccine available globally, including in developing countries, said Lawrence Young of the University of Warwick.

But Mr Young repeated that the shot's effectiveness is unclear at this stage, citing research with monkeys.

“This raises serious questions about the ability of the vaccine to protect against infection in humans and to prevent virus transmission,” he said in a statement.

“We need to be urgently exploring other vaccine candidates.”

While you're here
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

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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Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

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MATCH INFO

Uefa Champions League, Group B
Barcelona v Inter Milan
Camp Nou, Barcelona
Wednesday, 11pm (UAE)

UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

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AUSTRALIA SQUAD

Steve Smith (capt), David Warner, Cameron Bancroft, Jackson Bird, Pat Cummins, Peter Handscomb, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Shaun Marsh, Tim Paine, Chadd Sayers, Mitchell Starc.