• A Palestinian artist paints a mural of a mask-clad schoolgirl in Gaza City. AFP
    A Palestinian artist paints a mural of a mask-clad schoolgirl in Gaza City. AFP
  • A doctor collects a sample for a coronavirus test outside a clinic in Kajang on the outskirts of Kuala Lumpur, Malaysia. AP Photo
    A doctor collects a sample for a coronavirus test outside a clinic in Kajang on the outskirts of Kuala Lumpur, Malaysia. AP Photo
  • A woman sits at her flooded house in Quang Binh province, Vietnam. Reuters
    A woman sits at her flooded house in Quang Binh province, Vietnam. Reuters
  • Aviva Markowitz, left, and Rivka Alter enjoy a drink in a protective bubble at the Lazy Bean Cafe in Teaneck, New Jersey. AP Photo
    Aviva Markowitz, left, and Rivka Alter enjoy a drink in a protective bubble at the Lazy Bean Cafe in Teaneck, New Jersey. AP Photo
  • Actors react at the end of the show after the reopening of the Great Gatsby in London's West End. Reuters
    Actors react at the end of the show after the reopening of the Great Gatsby in London's West End. Reuters
  • Healthcare workers attend to a coronavirus patient at the Intensive Care Unit of Sao Joao Hospital in Porto. AFP
    Healthcare workers attend to a coronavirus patient at the Intensive Care Unit of Sao Joao Hospital in Porto. AFP
  • Musicians play during a tribute to health workers who died amid the new coronavirus pandemic, in Tegucigalpa, Honduras. AFP
    Musicians play during a tribute to health workers who died amid the new coronavirus pandemic, in Tegucigalpa, Honduras. AFP
  • A street vendor sells facemasks in Piliyandala, a suburb of Sri Lanka's capital Colombo. AFP
    A street vendor sells facemasks in Piliyandala, a suburb of Sri Lanka's capital Colombo. AFP
  • Passengers they wait to board a flight at Taipei’s Taoyuan International Airport, in Taiwan. Reuters
    Passengers they wait to board a flight at Taipei’s Taoyuan International Airport, in Taiwan. Reuters
  • A man has his temperature checked on arrival to a midday sermon at Lakemba Mosque in Sydney, Australia. Getty Images
    A man has his temperature checked on arrival to a midday sermon at Lakemba Mosque in Sydney, Australia. Getty Images
  • People look at Apple products at an Apple Store in Shanghai, China. Reuters
    People look at Apple products at an Apple Store in Shanghai, China. Reuters
  • Relatives react outside a house where a person died from Covid-19 in Ciudad Juarez, Mexico. Reuters
    Relatives react outside a house where a person died from Covid-19 in Ciudad Juarez, Mexico. Reuters
  • A person cycles past an empty Galleria Vittorio Emanuele II as the region of Lombardy imposes a curfew after being hit by a surge of Covid-19 infections, in Milan, Italy. Reuters
    A person cycles past an empty Galleria Vittorio Emanuele II as the region of Lombardy imposes a curfew after being hit by a surge of Covid-19 infections, in Milan, Italy. Reuters
  • A man sits on the empty stands of La Bombonera stadium in Buenos Aires before the start of the closed-door Copa Libertadores group phase football match between Argentina's Boca Juniors and Venezuela's Caracas. AFP
    A man sits on the empty stands of La Bombonera stadium in Buenos Aires before the start of the closed-door Copa Libertadores group phase football match between Argentina's Boca Juniors and Venezuela's Caracas. AFP

Coronavirus vaccine: three drugs in race to rid the world of Covid-19


  • English
  • Arabic

The race is on to be the first company to make a safe and effective coronavirus vaccine.

So far, three main partnerships have emerged as the front-runners to provide the world with the vaccine that could return life to normal for billions of people.

So what are the ones you need to know about and how do they work?

Pfizer/BioNTech

This month, the US-German venture published findings that their vaccine stops 90 per cent of people from developing symptoms of coronavirus. Injected into the muscle, the vaccine is given in two doses, three weeks apart.

It has been tested on 43,538 people in six countries including Turkey, the US and Germany.

The UK has already ordered 40 million doses. Pfizer had applied to get approval from the US Food and Drug Administration for emergency use of the vaccine. The FDA will meet on December 10 to discuss the authorisation.

Studies show that Pfizer’s vaccine is equally effective across ages and ethnicities.

Moderna

At anywhere between $25 and $37 a dose, like Pfizer, this vaccine uses a technology known as synthetic messenger RNA (mRNA) which has not been officially used before for infectious diseases.

In contrast to regular vaccines, which train the body’s immune system to respond to a bacteria or virus, mRNA vaccines actually dupe the body into producing its own virus.

“Using mRNA as a drug opens up a breadth of opportunities to treat and prevent disease. mRNA medicines can go inside cells to direct protein production, something not possible with other drug approaches,” Moderna said.

Experimentally, the Moderna vaccine is 94.5 per cent effective in preventing Covid-19.

Late stage trials are still under way, although the vaccine is being studied in 30,000 volunteers who received either the real thing or a dummy shot. Recently, an independent monitoring board examined 95 infections that were recorded after volunteers’ second shot, only five were in people given the vaccine. The company aims to file for emergency use with the FDA as well.

Oxford 

The University of Oxford announced on Monday that the Oxford/AstraZeneca vaccine is currently 70.4 per cent effective at preventing the coronavirus. Tested in two different dosages, the vaccine proved to be 90 per cent and 62 per cent effective respectively, with more efficacy found in the higher dose. About 24,000 volunteers in the UK, Brazil and South Africa participated in the trials. British Prime Minister Boris Johnson called the news from Oxford "incredibly exciting" despite further safety checks being required.

Sputnik V

Named after the Soviet Union's Sputnik satellite, this two-dose vaccine is expected to cost less than $20 on international markets. Developed by Russia's Ministry of Health and its investment fund, trial results delivered 91.4 per cent efficacy in 18,794 volunteers.

Free of charge for Russians, the vaccine uses decades-long medical science involving human adenoviral vectors.

The Russian government said it had received requests from more than 50 countries for the vaccination, 1.2 billion doses of the vaccine in total.

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

ONCE UPON A TIME IN GAZA

Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi

Directors: Tarzan and Arab Nasser

Rating: 4.5/5

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

LILO & STITCH

Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders

Director: Dean Fleischer Camp

Rating: 4.5/5

Blackpink World Tour [Born Pink] In Cinemas

Starring: Rose, Jisoo, Jennie, Lisa

Directors: Min Geun, Oh Yoon-Dong

Rating: 3/5

Polarised public

31% in UK say BBC is biased to left-wing views

19% in UK say BBC is biased to right-wing views

19% in UK say BBC is not biased at all

Source: YouGov

Test squad: Azhar Ali (captain), Abid Ali, Asad Shafiq, Babar Azam, Haris Sohail, Imam-ul-Haq, Imran Khan, Iftikhar Ahmed, Kashif Bhatti, Mohammad Abbas, Mohammad Rizwan(wicketkeeper), Musa Khan, Naseem Shah, Shaheen Afridi, Shan Masood, Yasir Shah

Twenty20 squad: Babar Azam (captain), Asif Ali, Fakhar Zaman, Haris Sohail, Iftikhar Ahmed, Imad Wasim, Imam-ul-Haq, Khushdil Shah, Mohammad Amir, Mohammad Hasnain, Mohammad Irfan, Mohammad Rizwan (wicketkeeper), Musa Khan, Shadab Khan, Usman Qadir, Wahab Riaz 

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The specs

Engine: 5.0-litre supercharged V8

Transmission: Eight-speed auto

Power: 575bhp

Torque: 700Nm

Price: Dh554,000

On sale: now

How they line up for Sunday's Australian Grand Prix

1 Lewis Hamilton, Mercedes

2 Kimi Raikkonen, Ferrari

3 Sebastian Vettel, Ferrari

4 Max Verstappen, Red Bull

5 Kevin Magnussen, Haas

6 Romain Grosjean, Haas

7 Nico Hulkenberg, Renault

*8 Daniel Ricciardo, Red Bull

9 Carlos Sainz, Renault

10 Valtteri Bottas, Mercedes

11 Fernando Alonso, McLaren

12 Stoffel Vandoorne, McLaren

13 Sergio Perez, Force India

14 Lance Stroll, Williams

15 Esteban Ocon, Force India

16 Brendon Hartley, Toro Rosso

17 Marcus Ericsson, Sauber

18 Charles Leclerc, Sauber

19 Sergey Sirotkin, Williams

20 Pierre Gasly, Toro Rosso

* Daniel Ricciardo qualified fifth but had a three-place grid penalty for speeding in red flag conditions during practice

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Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

BlacKkKlansman

Director: Spike Lee

Starring: John David Washington; Adam Driver 

Five stars

The Melbourne Mercer Global Pension Index

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.