UAE administers 5.5m doses of Covid-19 vaccine as Pfizer-BioNTech shipment arrives in Dubai


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The UAE has administered 5.5 million doses of Covid-19 vaccine, health authorities said.

Its National Emergency Crisis and Disaster Management Authority said on Sunday that 951 shots were given in the past 24 hours, moving the country closer to achieving herd immunity for its 10 million inhabitants.

Daily doses decreased in recent weeks from tens of thousands a day, and authorities said they would prioritise the elderly and other at-risk groups.

A target of immunising at least half of the country’s population by the end of March was achieved.

The announcement came as a new batch of the Pfizer-BioNTech vaccine was delivered to Dubai.

It will be distributed among government clinics that administer the Covid-19 vaccine.

The authority’s inoculation campaign is currently focusing on Emiratis and elderly residents, people with chronic diseases who have a valid Dubai visa, and essential workers in the public and private sectors.

Authorities in the UAE have also approved Sinopharm’s vaccine for general use and the AstraZeneca and Sputnik V shots for emergency use only.

The country reported 2,250 new cases of Covid-19 on Sunday, the lowest number recorded on any day this month.

Officials also announced 3,684 new recoveries, exceeding new cases by more than 1,400.

There are now 9,603 active cases in the UAE. It is the first time this figure has fallen below 10,000 since the start of the year.

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Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

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