Pfizer and its German partner company BioNTech have announced early results from Phase-3 trials of their Covid-19 vaccine. Data suggest the vaccine is over 90 per cent effective, well ahead of previous hopes for 60-70 per cent efficacy.
If this vaccine is what the world hopes it is, it represents a breakthrough in the fight against Covid-19. The international community must now ask itself three questions. Will the vaccine actually achieve what trial results claim? Will it immunise in the long term? And is the world prepared to distribute it equitably?
Time – and more research – will tell. While we wait, we should seek comfort in the fact that science on the issue is advancing daily. The UAE is currently hosting a Phase-3 trial which involved 31,000 volunteers in the country, in addition to Bahrain and Jordan.
More than 150 vaccines are in development globally, in what has been labelled a Covid-19 vaccine “space race”. The competitive fervour is welcome. The fact that Pfizer’s Phase-3 trial involved 43,000 people and shows such promising results provides confidence in its success. But other, similar trials are taking place in the UAE, UK, US, Russia, China and elsewhere, and they are instrumental in boosting the chances of success.
It is still too early to be sure of any vaccine candidate’s long-term efficacy. There are some reports, however, which suggest that most who recover from Covid-19 have some degree of lasting immunity, raising hopes that vaccines will offer similar protection. But the situation is still far from clear. A less ideal – but still workable – scenario would be a vaccine similar to the seasonal flu jab, which needs updating and a new inoculation every year. This is more labour-intensive, but researchers and health systems around the world are at least familiar with such yearly procedures.
There are justified concerns around whether stocks will be made widely available. News in August of US President Donald Trump stockpiling 100 million doses, while good for the US, raised concerns over a shortage for the rest of the world. President-elect Joe Biden’s desire to pursue foreign policy through building multilateral consensus could be an opportunity to pursue a more global approach.
Such consensus could be channelled through bodies advocating a global strategy. Valuable work is being conducted by Gavi, a public-private partnership for a “global vaccine alliance”, and its CoVax programme, which aims for “equitable distribution of eventual Covid-19 vaccines”.
The UAE is playing a significant role in empowering such bodies, including a $5 million contribution to Gavi in recent years. Along with their counterparts in partner nations, UAE policymakers have realised that immunity means less if it is concentrated entirely in the developed world. Global immunity is the only sustainable public-health solution for all countries, rich and poor.
There are justified concerns around the availability of vaccine supplies globally and whether stocks will be made widely available
It is, moreover, the only sustainable solution for long-term economic recovery. Waves of lockdowns have pushed millions around the world into unemployment or working from home. In the world’s poorest nations, working from home is the height of privilege.
It is also a privilege that the scientific and medical community, in all countries, can scarcely afford. During the first peak of infections this year, nations sprinted to produce ventilators. Those were designed and made by people, collaborating in person. Behind Pfizer’s vaccine is a husband and wife “dream team”. Their work was completed with a large team, also in person, in a laboratory.
There are still challenges ahead. But the news of a breakthrough in vaccine development provides a much-needed shot in the arm as this difficult year nears its end.
WHAT%20IS%20'JUICE%20JACKING'%3F
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Founders: Ines Mena, Claudia Ribas, Simona Agolini, Nourhan Hassan and Therese Hundt
Date started: January 2017, app launched November 2017
Based: Dubai, UAE
Sector: Private/Retail/Leisure
Number of Employees: 18 employees, including full-time and flexible workers
Funding stage and size: Seed round completed Q4 2019 - $1m raised
Funders: Oman Technology Fund, 500 Startups, Vision Ventures, Seedstars, Mindshift Capital, Delta Partners Ventures, with support from the OQAL Angel Investor Network and UAE Business Angels
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Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
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THE SPECS
Engine: 3.9-litre twin-turbo V8
Transmission: seven-speed dual clutch
Power: 710bhp
Torque: 770Nm
Speed: 0-100km/h 2.9 seconds
Top Speed: 340km/h
Price: Dh1,000,885
On sale: now
Three ways to boost your credit score
Marwan Lutfi says the core fundamentals that drive better payment behaviour and can improve your credit score are:
1. Make sure you make your payments on time;
2. Limit the number of products you borrow on: the more loans and credit cards you have, the more it will affect your credit score;
3. Don't max out all your debts: how much you maximise those credit facilities will have an impact. If you have five credit cards and utilise 90 per cent of that credit, it will negatively affect your score.
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'Peninsula'
Stars: Gang Dong-won, Lee Jung-hyun, Lee Ra
Director: Yeon Sang-ho
Rating: 2/5
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Arsenal 1 (Aubameyang 12’) Liverpool 1 (Minamino 73’)
Arsenal win 5-4 on penalties
Man of the Match: Ainsley Maitland-Niles (Arsenal)
Citizenship-by-investment programmes
United Kingdom
The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).
All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.
The Caribbean
Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport.
Portugal
The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.
“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.
Greece
The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.
Spain
The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.
Cyprus
Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.
Malta
The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.
The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.
Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.
Egypt
A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.
Source: Citizenship Invest and Aqua Properties
MATCH INFO
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Man of the Match Allan (Everton)
