We are on the cusp of an era of mass Covid-19 inoculation. The deployment of vaccines by drug makers Pfizer/BioNTech, AstraZeneca, Moderna, Sinopharm and Gamaleya Centre promises to put the pandemic behind us. Justifiably, there is plenty of optimism about a return to a more normal arc of life.
A select number of people in the UAE have taken the Chinese-made Sinopharm vaccine, which has been approved for limited – or emergency – use, following the phase 3 trials of the drug that were carried out in the country. These are early days in the UAE's national Covid-19 vaccine programme. This effort will be ramped up over the coming weeks and months as the country aims to protect as many of us as possible while helping people move past the crisis. The expectation is that many more nations will begin their immunisation programmes soon.
Those who are on the Sinopharm vaccine programme have to take two doses within a month. And a month thereafter, their bodies will hopefully have developed enough antibodies to give them some level of protection from the coronavirus.
Read More from Mustafa Alrawi
But the idea of immunity at a global level feels theoretical. While many thousands of people in the UAE have already taken part in the national vaccine programme, as well as in the earlier trials, there are not yet enough who have taken the vaccine to produce "herd immunity", which is needed to ensure that we have the coronavirus under control. I am not sure that point will be reached for some time, both at home and abroad.
It is important to understand that not everybody feels entirely comfortable taking the vaccine right away all over the world. There is much hesitancy particularly regarding taking any Covid-19 vaccine, which has been quickly developed compared to previous inoculations. This hesitancy is evident from a wide range of responses I have garnered during conversations. Some have demonstrated a curiosity, while others have been alarmist. Most responses have been somewhere in between, with some among them making it clear that they do not judge the choices made by others while admitting they do not themselves have the desire to take a vaccine.
That vaccine hesitancy is real should not be news to anyone. It has, after all, been an issue since well before the pandemic. For at least a decade, health authorities around the world have tried to grapple with this growing trend. Every country and every strata of society in those countries have been affected to differing degrees by this phenomenon. It cannot just be blamed on anti-vaxxers and conspiracy theories, rather the hesitancy about taking vaccines is often related to issues such as complacency, lack of convenience or lack of confidence.
The third factor is arguably the most pressing one, because only a minority are complacent about the risks of this disease and how it is impacting our lives as compared to other illnesses that we have had a vaccine for, for some time. Likewise, a lack of convenience should not be a factor, especially in the future, with governments around the world hard at work to make it as easy as possible for the public to receive the vaccine should they want to.
According to research conducted by the World Health Organisation, all three factors are linked, and being weak on tackling any one of them on the part of the public will undermine the efforts to vaccinate the largest number of people.
How to build that confidence then? Consistent and clear communication is key, obviously, as it is the foundation upon which trust is built. Even after getting the messaging right, which is not at all easy, it needs time to have an effect. There is no short cut to a sustained and long-term information campaign that will convince people that they can take a vaccine safely. It may take years and there is the worry of the continuing consequences to our well-being if the pandemic drags on that long.
There has been some discussion, in Australia, the UK and elsewhere, of requiring people to show inoculation certificates in order to fly on planes or go to the cinema. However, trying to compel people to take a vaccine won't achieve the objective of mass inoculation. Human psychology would fight against the idea.
Countries will, of course, get to the point of herd immunity eventually. Of that there is no doubt. The question is only how long it will take. In the meantime, to smoothen the process, we must find new reserves of patience and empathy to help get the job – and the jab – done.
Mustafa Alrawi is an assistant editor-in-chief at The National
ENGLAND%20SQUAD
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RESULT
Esperance de Tunis 1 Guadalajara 1
(Esperance won 6-5 on penalties)
Esperance: Belaili 38’
Guadalajara: Sandoval 5’
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
UAE SQUAD
Ahmed Raza (Captain), Rohan Mustafa, Jonathan Figy, CP Rizwan, Junaid Siddique, Mohammad Usman, Basil Hameed, Zawar Farid, Vriitya Aravind (WK), Waheed Ahmed, Karthik Meiyappan, Zahoor Khan, Darius D'Silva, Chirag Suri
More from Rashmee Roshan Lall
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
RESULT
Bournemouth 0 Southampton 3 (Djenepo (37', Redmond 45' 1, 59')
Man of the match Nathan Redmond (Southampton)
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
Indika
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Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
Pakistan Super League
Previous winners
2016 Islamabad United
2017 Peshawar Zalmi
2018 Islamabad United
2019 Quetta Gladiators
Most runs Kamran Akmal – 1,286
Most wickets Wahab Riaz –65
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
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Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
