A nurse prepares a Pfizer-BioNTech Covid-19 shot at a public housing project pop-up vaccination site in Los Angeles, California, US. AFP
A nurse prepares a Pfizer-BioNTech Covid-19 shot at a public housing project pop-up vaccination site in Los Angeles, California, US. AFP
A nurse prepares a Pfizer-BioNTech Covid-19 shot at a public housing project pop-up vaccination site in Los Angeles, California, US. AFP
A nurse prepares a Pfizer-BioNTech Covid-19 shot at a public housing project pop-up vaccination site in Los Angeles, California, US. AFP

US surpasses 100 million Covid shots in vaccine race


Patrick deHahn
  • English
  • Arabic

The US has administered more than 101 million Covid-19 vaccinations, the Centres for Disease Control and Prevention announced on Friday.

It marks a milestone for the country that has the highest death toll in the world, three months into a massive vaccination programme.

About 10.5 per cent of the adult population in the US has been fully vaccinated, the agency said,  and almost  20 per cent – 65 million people – have had at least one dose.

The two-dose Pfizer-BioNTech and Moderna vaccines and the single-dose Johnson & Johnson vaccine are being used throughout the country.

The agency says more than 133 million vaccines have been distributed to US states.

When he introduced key members of his health team on December 8 last year, President Joe Biden set a goal of reaching 100 million vaccinations in his first 100 days.

The Biden administration has continued to bump up orders from vaccine makers, including a recent order of another 100 million shots from Johnson & Johnson.

Mr Biden announced Thursday night in his first national prime time address that there will be enough vaccines for the entire US adult population by the end of May.

He also ordered all states to open up vaccination eligibility before May 1, moving beyond the first groups of people at high risk of suffering severe effects of Covid-19 and essential workers.

"I need you, the American people, I need you," Mr Biden said. "I need every American to do their part.

"And that's not hyperbole. I need you. I need you to get vaccinated when it's your turn and when you can find an opportunity. And to help your family, your friends, your neighbours get vaccinated as well."

Mr Biden's goal is to move the country "closer to normal" by July 4, the nation's independence day.

Scientists suggest herd immunity requires at least 80 per cent of the US population to be fully vaccinated.

"America is coming back," he said.

"The development, manufacturing and distribution of vaccines in record time is a true miracle of science. It's one of the most extraordinary achievements any country has ever accomplished."

The US has recorded more than 531,000 deaths from Covid-19, according to Johns Hopkins University.

The country also leads the world with the most known cases, at about 30 million infections.

Mr Biden continues to emphasise caution amid the vaccine race.

While hospital admissions and infections are declining, the US still records more than 60,000 infections daily – similar to levels seen during the country's summer surge in 2020.

Between 1,500 and 1,800 people are dying from Covid-19 in the US each day.

"We need everyone to keep washing their hands, stay socially distanced and keep wearing the mask," he said.

Several states are taking steps towards reopening at levels not seen before in the pandemic, while fears persist of a possible small fourth surge.

Public health officials are keeping an eye on some variants with higher transmissibility, which are growing in number nationwide.

"This is not the time to let up," Mr Biden said. "Just as we were emerging from a dark winter into a hopeful spring and summer, it is not the time to not stick with the rules."

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Another way to earn air miles

In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.

An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.

“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.

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.”

WISH
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The specs: 2018 Genesis G70

Price, base / as tested: Dh155,000 / Dh205,000

Engine: 3.3-litre, turbocharged V6

Gearbox: Eight-speed automatic

Power: 370hp @ 6,000rpm

Torque: 510Nm @ 1,300rpm

Fuel economy, combined: 10.6L / 100km

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Essentials

The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes. 
 

Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes. 


In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes. 
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.

The specs

Price, base / as tested Dh12 million

Engine 8.0-litre quad-turbo, W16

Gearbox seven-speed dual clutch auto

Power 1479 @ 6,700rpm

Torque 1600Nm @ 2,000rpm 0-100kph: 2.6 seconds 0-200kph: 6.1 seconds

Top speed 420 kph (governed)

Fuel economy, combined 35.2L / 100km (est)

UAE currency: the story behind the money in your pockets
The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5