INTERVIEW: Bill Gates, vaccines and the fight against COVID-19

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Updated 22 June 2020
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INTERVIEW: Bill Gates, vaccines and the fight against COVID-19

  • Hassan Damluji, deputy director of the Bill & Melinda Gates Foundation, tells of a “very worrying picture”
  • The Bill & Melinda Gates Foundation is the multibillion-dollar philanthropic organization started by the Microsoft founder and his wife

Hassan Damluji, the deputy director of the Bill & Melinda Gates Foundation, gave a candid, perhaps pessimistic view of the coronavirus pandemic that has upturned everyone’s lives.

“Some people are thinking it’s all over, and it may be receding in their countries, but actually, globally, it’s a very worrying picture,” he told Arab News. “We’re deep into wave three.”

The Bill & Melinda Gates Foundation is the multibillion-dollar philanthropic organization started by the Microsoft founder and his wife. It is now one of the most important players in the fight against the virus.

“The first wave hit China, other countries were relatively unaffected and China had big problems while other countries were underestimating the risk,” Damluji explained. 

“The second wave really hit the world’s wealthiest countries, in Europe, North America but also East Asia and that is now reducing, though cases in America are still quite high. Wave three now is where middle and lower-income countries are being hit, especially Latin America, which is the center of the pandemic, but also Pakistan, which is in my region so I look at it closely, but also across Africa, where you’ve seen cases increase.”

He has direct responsibility for the fund’s activities in the Middle East, so is in a strong position to gauge the regional response to the crisis. Damluji was most recently involved in a five-year fundraising cycle for GAVI, the global vaccine alliance.

Saudi Arabia took a strong lead at the event and contributed $150 million toward a pot that eventually reached $8.8 billion, some $1.2 billion more than was being asked for. The Kingdom had earlier pledged a total of $500 million toward antivirus activities at a G20 meeting in Riyadh. Damluji is appreciative of Saudi Arabia’s efforts.

“That was very generous and that was a really powerful kick-off for the fundraising. The Saudis came in early. What was powerful was not just that they were putting money in, but they sent a signal and others had an obligation to follow. That was great leadership, given that Saudi Arabia is the president of the G20.

“It surpassed expectations, but the need is going to be bigger because of what’s going on with the virus. Saudi Arabia really stepped up with regard to procurement for coronavirus vaccines when they become available. That was really important.”

"The money raised by GAVI - to which the Gates Foundation is a major contributor - will be used to purchase vaccines against coronavirus when they are available, and distribute them equitably across the world."


BIO

Born: London 1982.

Education

  • Westminster School, London.
  • Chelsea College, Fine Art Foundation.

  • Corpus Christi College, Oxford University, BA Classics and Arabic.

  • Harvard University, MA Middle East Studies.

Career

  • Senior engagement manager, McKinsey & Co.

  • Chief operating officer, New Schools Network.
  • Chief operating officer, Achievement for All.

  • Deputy director, global policy and advocacy, Bill & Melinda Gates Foundation.


Damluji offered a sobering assessment of current progress toward finding a vaccine.

“In terms of developing tools to combat it, we’re still at the research and development phase. People want to know a date when a vaccine will be available, but the truth is that in innovation, sometimes things never happen, sometimes they happen much faster than you thought, and sometimes they take a circuitous route.

“For example no one thought the brave new world would be the iPhone in your pocket. So it’s very difficult to predict how R&D will proceed, but when it comes to a vaccine, what is clear is that this is the fastest, most-concerted and best-funded effort to create a vaccine ever.

“There are some early candidates for a successful vaccine which have shown some promising results, so there is reason to be optimistic. The early ones we’re seeing, whether it’s the Oxford-AstraZeneca one or others, tend to be on the same technological platform, and it’s because of that similarity that they’ve been able to move fast. But if one of them fails, they’ll likely all fail, because it’s the same basic approach in terms of the science.”

There is a glimmer of hope for an early outcome. “If we’re lucky, several of them will work quite quickly and, by the middle of next year, we’ll have quite a lot of vaccines on the market.”

But that was not guaranteed, he warned. “If we’re unlucky, none of them will work and then we’ll have hundreds (of possible vaccines) out there on different timelines. We will eventually get a vaccine, but it’s overly optimistic to think of the middle of next year as a definite.”

There is a risk that, while the world’s best scientific brains are concentrating on finding a vaccine, attention will be distracted from other serious infectious diseases that are afflicting the world, especially in the poorest countries.

For example, the Gates Foundation invested a lot of time and effort into a campaign to eradicate polio, which hit countries in the Middle East and Asia particularly hard. It came close to declaring victory against this disease, only for it to re-emerge as a threat in Pakistan.

“There is a big risk. The polio vaccination campaigns in Pakistan, home to the most cases of ‘wild’ polio, have stopped for several months now. We had hoped to restart them this month, but the course of the pandemic in Pakistan — it still hasn’t hit the peak — means we still haven’t restarted, and are now hoping for August.

“So polio vaccinations in Pakistan have just stopped. You might hope that some of the social distancing measures against COVID-19 would also reduce the transmission of other diseases, but the fact is that, certainly for polio, the program has taken a big hit,” Damluji said, adding that it was difficult for developing countries to combat more than one serious disease at a time. “In poor countries, when you do more of one thing you do less of another. When the Ebola crisis hit West Africa, far more people died from a lack of availability of basic health services, not from Ebola. It’s very likely you’re going to see the same kind of thing with the coronavirus.”

The Gates Foundation, and especially its founder, have been the target of some wild conspiracy theories since the pandemic broke. Despite Bill Gates’ commitment to use the billions he made from Microsoft for philanthropic purposes, and especially to combat coronavirus, he has been accused, in some of the wilder parts of social media, of bidding for world domination.

Damluji has no time for the conspiracists.

“I think this shows the importance of quality journalism. In the online world, there is nothing to prevent you writing whatever you want, and if people find something they think is interesting they will forward it and it will spread. What we’ve found is that quality journalistic sources, by and large, if they report this kind of conspiracy theory at all, they report it as something very strange that other people are saying, rather than as fact, and they’re actually rebutting it. That’s been really good to see.

“Anyone who is concerned to find out whether these things are true should look at reputable sources and they’ll find very little evidence to make them believe it. In the wild west of WhatsApp forwarding all kinds of things are said.”

The Gates Foundation is “laser-focused” on ethical standards, but takes a pragmatic approach to the funding process. “Our basic approach is that we work with governments across the world to do as much as we can to save lives and achieve the goals we’re trying to achieve. There is criticism of a lot of governments, some of it is valid, some of it isn’t, and that applies across the board,” he said.

There has also been a worry that, in view of the economic crisis the world is facing, contributions to philanthropic organizations like GAVI will dry up as governments and individuals perceive a need for a “charity begins at home” approach.

“One of the things to be concerned about is whether long-term aid — not just philanthropy, but bigger than that, government aid for things like GAVI or other programs that save lives and improve livelihoods — if those are damaged over the long term, then it’s a cause for concern.

“In terms of the question of are governments getting it right or wrong, that’s not for me to say. There are balances to strike, and only an individual society can decide the difficult trade-off between death versus economic damage.”

But he is adamant on one thing: Governments across the world must adopt policies to prevent another pandemic.

“If we had built a stronger pandemic preparedness system, we would not be in the situation we are now,” he said.


Annual Dubai forum dedicated to futurism explores ways to ‘empower generations’

Updated 19 November 2024
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Annual Dubai forum dedicated to futurism explores ways to ‘empower generations’

  • Dubai Future Foundation CEO Khalfan Juma Belhoul unpacks the 2024 edition agenda in an exclusive interview with Arab News
  • “In order to have a view on the future, we need to convene and listen to everyone,” he says as Dubai Future Forum gets underway

DUBAI: As the third edition of the Dubai Future Forum kicks off, the UAE’s commercial capital is once again playing host to futurists, visionaries, and thought leaders from across the globe. This year’s event, being held at the city’s iconic Museum of the Future, is expected to draw over 2,500 experts, policymakers and innovators from around 100 countries.

Organized by the Dubai Future Foundation (DFF), the two-day event will feature 150 speakers across 70 sessions, making it the world’s largest gathering dedicated to futurism and foresight.

The agenda for the 2024 edition, entitled “Empowering Generations,” reflects Dubai’s vision to remain at the forefront of global futurism. The discussions will range from harnessing AI and technology for societal good to tackling the challenges of sustainability and human well-being.

The event is the world’s largest gathering dedicated to futurism and foresight. (AN Photo)

Speaking exclusively to Arab News, Khalfan Juma Belhoul, CEO of the DFF, emphasized the forum’s role in positioning Dubai as a leader in future foresight.

“Each year the event differs from the one before. The Dubai Future Forum is an anchor which positions us as leaders in foresight,” he said. “We like to promote the DFF as the headquarters of the future in the world; and in order for us to have a view on the future, we need to convene and listen to everyone.”

Held under the patronage of Sheikh Hamdan bin Mohammed bin Rashid Al-Maktoum, crown prince of Dubai and chairman of the DFF, the annual event aims to explore transformative shifts and identify practical solutions to ensure a better, sustainable future. Now in its third year, the forum continues to evolve.

Belhoul explained that the forum was born out of a vision of UAE Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al-Maktoum to institutionalize foresight as a key strategy. According to him, when Sheikh Mohammed initially decided that the country needed to institutionalize foresight — something that had not been done before — it was obvious that the first thing that was needed was to find a way to convene a class of people that understood the vision.

FASTFACTS

  • Event Dates: Nov. 19-20, 2024.
  • Participants: 2,500 attendees, 150 speakers, 70 sessions.
  • Key Topics: AI, sustainability, health, longevity, digital economy.
  • Special Guests: Dr. Makoto Suzuki, Amy Webb, Sara Sabry, Paul Saffo, Jordan Nguyen.

“Fast forward to this year, we are talking about the gathering of roughly 2,500 people, 150 speakers, and 70 sessions. The numbers are steadily increasing every year,” Belhoul said. “It makes us proud to host and listen to futurist experts, especially when they speak so fondly about the DFF. We cannot claim to own a view on the future without being inclusive, collaborative, and hearing everyone.”

Conversations at the 2024 edition of the Dubai Future Forum will center on five key themes: Foresight Insights, Transforming Humanity, Optimizing Health, Empowering Generations, and Futuring Nature. The topics align with global priorities, echoing the recent UN Summit of the Future, which focused on forging an international consensus for a better present and future.

Belhoul highlighted the significance of exploring critical topics such as artificial intelligence, sustainability and societal well-being. While themes like AI and Gen AI will be on the agenda, participants will also be actively discussing how they affect communities, nature and job sectors. “If you really focus on what matters to humans, then you realize all of the above are integral components of our conversations,” he said.

Key topics to be discussed at the event include AI, sustainability, health, longevity, and digital economy. (Supplied)

“Of course, we will also be diving deeply into foresight conversations which you can consider as main pillar alongside the other themes.

“They are integral parts of our conversations and they are integral parts of what matters to humans.  We are trying to create a network of like-minded people who can talk about how foresight can be done.”

The event’s focus extends to health and longevity, exploring how technological advancements can improve human well-being. As Belhoul put it, “We have to strike the balance between leveraging technology — which we haven’t yet scratched the surface of, in terms of AI and computing — and ensuring the health and well-being of our people.”

On attendance will be star-studded lineup of global experts and futurists, including the technology forecaster Paul Saffo; Jordan Nguyen, an advocate for technology-driven human enhancement; Amy Webb, CEO of the Future Today Institute; and Sara Sabry, the first female Arab and African astronaut.

One of the most eagerly anticipated speakers is Dr. Makoto Suzuki, who will share his pioneering research on the secrets of longevity.

Conversations at the 2024 edition of the Dubai Future Forum will center on five key themes: Foresight Insights, Transforming Humanity, Optimizing Health, Empowering Generations, and Futuring Nature. (Supplied)

“There is a massive line up that I am looking forward to. Anad while I will not be able to attend all the sessions, I will be listening to them as I am running on my treadmill in the morning,” Belhoul said.

He also expressed excitement about the diversity of speakers, noting how their insights will contribute to the forum’s goal of fostering global collaboration. “While some topics are AI focused, we have people like Nguyen and Webb, who are amazing story tellers. And when you have that kind of style, you attract the audience to listen to you and engage more.”

Belhoul added: “We are trying to create a network of like-minded people who can discuss how foresight can be done. It’s amazing how like-minded we are in the foresight perspective. This validates the importance of working with different networks to create a better future.”

“And how we, as humanity, can overcome the biggest challenges we might face by collectively finding ways to solve big those issues — whether its regulations for AI, solutions for climate crises, or the economic conflicts around the world.”

Khalfan Belhoul, CEO of Dubai Future Foundation. (Supplied)

The first day of the forum will include a series of keynote addresses and thematic panels, with sessions like “From Deep Space to Deep Ocean: A Future of Exploration and Discovery” and “Concepts of Time: How Do They Shape Our Future?” Innovative exchanges in intimate settings will cover everything from deep-sea robotics to the impact of science fiction on future imaginings.

Central to the event will be exploring how foresight can lead to practical solutions for pressing global challenges. Mohammad Abdullah Al-Gergawi, UAE minister of cabinet affairs and managing director of DFF, described the Dubai Future Forum as a crucial platform for fostering international cooperation.

“Rapid transformations in technology, society, and the environment make it essential to continuously revisit our government’s priorities for future readiness,” he said.

The annual event aims to explore transformative shifts and identify practical solutions to ensure a better, sustainable future. (Supplied)

One of the new initiatives at this year’s forum is the “Dubai Future Solutions — Prototypes for Humanity” exhibition, showcasing 100 cutting-edge prototypes designed to address global challenges.

Belhoul underscored the importance of listening to diverse voices and collaborating to shape the future. “We need to find a way to work in harmony when it comes to the digital economy,” he said. “By listening to opinions from all over the world, you get a boost of knowledge as to where the future is headed.”

Reflecting on the forum’s impact, he said: “The DFF is a tool for us to come up with an action plan for the future. By being inclusive and collaborative, we aim to build a world that’s ready for whatever comes next.”

 


UNCCD COP16: Saudi Arabia announces Green Zone to combat land degradation

Updated 18 November 2024
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UNCCD COP16: Saudi Arabia announces Green Zone to combat land degradation

RIYADH: Saudi Arabia will host a special UN forum to combat desertification with the introduction of a dedicated Green Zone and thematic days for the first time in the event’s history. 

As part of its presidency of the UN Convention to Combat Desertification COP16, the Kingdom has announced a dedicated area focused on raising global awareness about land degradation, while enabling key decision-makers from scientific, non-governmental, political, business, and at-risk communities to find and fund lasting solutions. 

The Green Zone will host thematic days designed to rally action on critical issues, including agri-food systems and finance, during the conference set to take place from Dec. 2-13 at Boulevard Riyadh City. 

This initiative aligns with the Saudi Green Initiative target to turn 30 percent of the Kingdom’s land into nature reserves, plant 10 billion trees, and restore 40 million hectares of degraded land. 

“Land degradation, desertification and drought impact almost every corner of the planet, and every living being on it, from the species at risk of extinction to the lives and livelihoods impacted by severe drought,” said Osama Faqeeha, deputy minister for environment at the Ministry of Environment, Water and Agriculture, and adviser to the UNCCD COP16 Presidency. 

“Saudi Arabia will host the first-ever UNCCD COP16 Green Zone to mobilize the international community and maximize the opportunity during December’s conference of delivering lasting global change,” he added. 

There will also be a Blue Zone, which along with its green counterpart will feature seven thematic days designed to foster action and dialogue among key stakeholders. 

Land Day will focus on land restoration initiatives and nature-based solutions, while the Business for Land Forum will bring together international leaders to discuss the economic importance of sustainable land practices. 

Finance Day will address ways to close the financing gap in land degradation, along with a special ministerial dialogue and innovations in Sustainable Land Management financing. Governance Day will focus on improving women’s land rights and address policy issues surrounding land tenure and resource governance. 

Agri-Food Systems Day will spotlight food security, crop resilience, and sustainable farming. Resilience Day will explore water scarcity, drought resilience, and early warning systems for sand and dust storms. 

People’s Day will feature a youth caucus to engage young people, as 1 billion people under 25 in regions dependent on land and natural resources for jobs and livelihoods face significant challenges. 

 


Alfanar Projects, SEC sign $5.33bn deals to support Saudi energy modernization 

Updated 18 November 2024
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Alfanar Projects, SEC sign $5.33bn deals to support Saudi energy modernization 

RIYADH: Energy deals worth SR20 billion ($5.33 billion) have been signed between Alfanar Projects and Saudi Electricity Co. to advance the Kingdom’s power modernization and sustainability efforts. 

The agreements, announced during the Energy Localization Forum hosted by the Ministry of Energy, include the construction of the Middle East’s largest High-Voltage Direct Current Converter Station, according to a press release.  

This facility, developed in partnership with China Electric Power Equipment and Technology Co., will deliver 7 gigawatts of power between the Central, Western, and Southern regions. 

The deals also include projects for battery storage systems, smart distribution centers, and renewable energy integration, aimed at improving grid reliability and supporting Saudi Arabia’s Vision 2030 goals of energy self-sufficiency and sustainability. 

Saudi Arabia aims to get 50 percent of its power from renewable energy by 2030, with a total capacity of 130 GW. This includes 58.7 GW from solar and 40 GW from wind, making it the most ambitious renewable energy target in the Gulf Cooperation Council. 

Amer Al-Ajmi, executive vice president of sales and marketing at Alfanar Projects, said: “The confidence placed in us by the Ministry of Energy, through its representative, Saudi Electricity Co., affirms our commitment to deliver and execute transformative projects of this scale.”  

He added: “At Alfanar Projects, we combine our robust resources, technical expertise, and a highly skilled national workforce to create a sustainable energy infrastructure that supports the Kingdom’s self-sufficiency goals and strengthens its role as a leader in renewable energy.” 

The signing ceremony was attended by Saudi Energy Minister Prince Abdulaziz bin Salman, Minister of State Hamad bin Mohammed Al-Sheikh, and Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef. 

Other key representatives included Khaled Al-Ghamdi, CEO of Saudi Electricity Co., and Sabah Al-Mutlaq, vice chairman of Alfanar Co. and managing director of Alfanar Projects, who represented both organizations. 

Alfanar Projects is a Saudi-based company developing sustainable energy projects that support economic growth and environmental goals in the Kingdom and beyond. 

Earlier this month, Saudi Electricity Co. reported a net profit of SR5.6 billion for the first nine months of 2024, up from SR 4.6 billion last year. The company’s power generation capacity grew by 1.4 percent, with its directly owned capacity rising to 56.9 GW. 


Closing Bell: Saudi benchmark index edges up to close at 11,830

Updated 18 November 2024
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Closing Bell: Saudi benchmark index edges up to close at 11,830

RIYADH: Saudi Arabia’s Tadawul All Share Index rose by 0.16 percent or 18.40 points to reach 11,830.38 points on Monday.   

The total trading turnover of the benchmark index was SR5.4 billion ($1.46 billion), as 78 of the listed stocks advanced, while 151 retreated.   

The MSCI Tadawul Index increased by 1.22 points, or 0.08 percent, to close at 1,487.07.    

The Kingdom’s parallel market Nomu also increased, gaining 119 points, or 0.40 percent, to close at 29,596.35 points. This comes as 44 of the listed stocks advanced while as many as 34 retreated.   

The index’s top performer, the National Co. for Glass Industries, saw a 9.11 percent increase in its share price to close at SR53.90.   

Other top performers included Arriyadh Development Co., which saw a 5.76 percent increase to reach SR27.55, while Almasane Alkobra Mining Co.’s share price rose by 4.41 percent to SR68.70.  

The Power and Water Utility Co. for Jubail and Yanbu also recorded a positive trajectory, with share prices rising 3.26 percent to reach SR57. CATRION Catering Holding Co. also witnessed positive gains, with 3.20 percent reaching SR129.

East Pipes Integrated Co. for Industry was TASI’s worst performer, with the company’s share price dropping by 3.78 percent to SR137.40. 

Arabian Pipes Co. followed with a 3.68 percent drop to SR109.80. Alkhorayef Water and Power Technologies Co. also saw a notable drop of 3.31 percent to settle at SR140. 

Elm Co. and MBC Group Co. were among the top five poorest performers, with Elm Co.’s share declining by 3.24 percent to settle at SR1.127.60 and MBC Group’s falling by 3.18 percent to sit at SR44.15.

On Nomu, Shalfa Facilities Management Co. was the best performer, with its share price rising by 14.03 percent to reach SR95.90. 

Sure Global Tech Co. and Mohammed Hasan AlNaqool Sons Co. also delivered strong performances. Sure Global Tech Co. saw its share price rise by 13.24 percent, reaching SR83.80, while Mohammed Hasan AlNaqool Sons Co. recorded a 12.20 percent increase, standing at SR43.70.

Osool and Bakheet Investment Co. also fared well with 9.81, and Banan Real Estate Co. increased 7.73 percent.

Alqemam for Computer Systems Co. shed the most in Nomu, with its share price dropping by 12 percent to reach SR88. 

Natural Gas Distribution Co. experienced a 5.87 percent decline in share prices, closing at SR54.50, while Horizon Educational Co. dropped 5.66 percent to settle at SR75.

Raoom Trading Co. and Lana Medical Co. were also among the top decliners, with Raoom Trading Co. falling 5.26 and Lana Medical Co. declining 4.89 percent.


Pakistan Stock Exchange may gain at least 27% by end of 2025 — Bloomberg

Updated 18 November 2024
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Pakistan Stock Exchange may gain at least 27% by end of 2025 — Bloomberg

  • Benchmark KSE-100 Index forecast to increase to 127,000 points by Dec. 2025, a 34% rise, from 94,704 points it closed on Friday
  • Key index advanced as much as 0.6% on Monday, taking gains to more than 50% this year, the second best performer globally

ISLAMABAD: Pakistan’s stocks are expected to advance by more than a quarter by the end of next year as the nation’s economy shows improvement under a loan program with the International Monetary Fund and the currency stabilizes, Bloomberg reported on Monday, quoting two brokerage houses. 

The benchmark KSE-100 Index is forecast to increase to 127,000 points by December 2025, or a 34% rise, from the 94,704 points it closed last Friday, according to Topline Securities Ltd. in a report announced on Nov. 16. Arif Habib Ltd. targets the index to reach 120,000 points, a gain of 27%.

“The stage is set for a potential market re-rating with declining interest rates, a stable rupee, and improving macroeconomic indicators,” Karachi-based brokerage Arif Habib commented in a report.

Pakistan’s economy has stabilized with inflation easing from record levels that has allowed the central bank to cut the interest rate for four straight meetings to 15 percent, the lowest in two years. 

The key index advanced as much as 0.6% on Monday, taking its gains to more than 50% this year, the second best performer globally, according to data compiled by Bloomberg.

The equity market will be offering a 37% return including 10% dividend yield by the end of 2025 because of economic stability and falling bond yields, Karachi-based Topline said in a separate report.

Pakistan is also increasingly attracting the attention of foreign investors, particularly in its debt and equity markets, said Arif Habib.