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December
Europe considers new curbs as Omicron sweeps world
Written by Nur Yasmin
Countries across Europe were considering new curbs on movement on Tuesday as the fast-moving Omicron variant swept the world days before Christmas, throwing travel plans into chaos and unnerving financial markets.
Omicron infections are multiplying rapidly across Europe, the United States and Asia, including in Japan, where a single cluster at a military base has grown to at least 180 cases.
New Zealand COVID-19 Response Minister Chris Hipkins said his country, which imposed some of the world's toughest COVID-19 measures, was delaying the start of a staggered reopening of its border until the end of February.
Omicron now accounts for 73% of all new cases in the United States, up from less than 1% at the beginning of the month. It recorded its first death from the variant.
South Korea, the Netherlands, Germany and Ireland are among countries to reimpose partial or full lockdowns, or other social distancing measures, in recent days. read more L4N2T60DY Thailand will reinstate mandatory quarantine for foreign visitors from Tuesday.
Britain, Germany and Portugal were considering further measures. British finance minister Rishi Sunak will talk soon about his discussions with representatives of the hard-hit hospitality industry who are demanding more government support, a government minister said.
Prime Minister Boris Johnson said on Monday he was looking at all kinds of measures to keep Omicron under control.
"We reserve the possibility of further action but it's a question of looking at that data and weighing that against the other consequences of further restrictions," Cabinet Office Minister Steve Barclay told BBC radio on Tuesday when asked if further measures could be introduced before Christmas.
CHAINS LOCKED
Omicron has hit financial markets hard in recent days, raising investor fears for the global economic recovery as the pandemic cuts travel and seizes up supply chains.
But world shares gained marginally on Tuesday, with the dollar softening as appetite for riskier assets made a cautious return. The broader Euro STOXX 600 (.STOXX) rose 0.76%. Germany's DAX's (.GDAXI) added 0.57%, with London's FTSE (.FTSE) climbing 0.8%.
In Australia, where Omicron cases have surged but hospitalisations remain relatively low, Prime Minister Scott Morrison urged state and territory leaders to avoid further lockdowns. read more
"We're not going back to lockdowns. We're going forward to live with this virus with common sense and responsibility," he said.
In the United States, the Biden administration said it would open federal COVID-19 testing sites in New York this week and buy 500 million at-home rapid tests that Americans can order online for free. read more
"We will also note that if you are unvaccinated, you are at high risk of getting sick," a senior administration official said. "This variant is highly transmissible and the unvaccinated are eight times more likely to be hospitalized and 14 times more likely to die from COVID."
The Omicron variant was first detected last month in southern Africa and Hong Kong and so far has been reported in at least 89 countries.
The severity of illness it causes remains unclear, but the World Health Organization (WHO) warned it is spreading faster than the Delta variant and is causing infections in people already vaccinated or who have recovered from the COVID-19 disease. read more
More than 274 million people have been reported to be infected by the coronavirus globally since the pandemic began nearly two years ago. More than 5.65 million people have died. (reuters)
December
Death toll from suspected arson at Japanese clinic rises to 25 - media
Written by Nur Yasmin
The death toll from a suspected arson attack at a psychiatry clinic in Japan has risen to 25 with the death of a woman believed to be in her 20s, media reported on Tuesday.
A 61-year-old man suspected of starting the fire on Friday in the western city of Osaka and a woman who appeared to be in her 30s were in critical condition, Kyodo news agency said.
Police in Osaka were not immediately available for comment.
Security camera footage from the clinic showed the fire broke out when the suspect carried two bags of liquid in and set it on fire, an Osaka police official said on Monday.
A day before the fire, the door of the clinic's emergency exit was found sealed with adhesive tape from the outside and it was removed, Kyodo said, citing unidentified police sources.
Police suspect the 61-year-old man tried to seal the door with the tape to stop people in the clinic from getting out, Kyodo said. (Reuters)
December
Malaysia warns of more floods as PM acknowledges lapses in rescue efforts
Written by Nur Yasmin
Malaysia on Tuesday warned of more storms and heavy rainfall in the coming days as Prime Minister Ismail Sabri Yaakob admitted to weaknesses in the government's response to flooding that has led to more than a dozen deaths and the displacement of over 60,000 people.
The country mobilised its army and other security agencies after torrential rain that began last Friday, which caused floods in eight states.
Authorities have been criticised by the public and lawmakers for their slow response, with some people trapped by floodwaters for more than two days before being rescued, particularly in Selangor, the country's wealthiest and most populous region.
The prime minister on Tuesday acknowledged weaknesses in coordinating the response by federal security agencies, according to a broadcast on state-run news channel Bernama TV.
"I don't deny (the weaknesses) and will improve in the future," Ismail Sabri said.
"The responsibility is not that of the federal government alone, but also the state governments, and the frontliners are the districts."
The Meteorological Department said Malaysia could see more floods in the coming days, as a tropical depression moved towards four states in Malaysia's north.
"This situation can cause continuous rainfall and strong winds in the northern states.... that could lead to flooding in low-level areas," the department said in a statement.
The death toll from the floods in Selangor climbed to 17 on Tuesday, while more than 30,000 people have been moved into temporary shelters, the state's Chief Minister Amirudin Shari said in a statement.
The national disaster management agency said nearly 63,000 people were displaced across the country as of Tuesday. (Reuters)
December
UK Strengthens Position As Leading Islamic Finance Centre, Opens ALF
Written by Nur Yasmin
The UK’s Bank of England became the first central bank outside a Muslim-majority country to open an Alternative Liquidity Facility (ALF) earlier this month.
The facility gives Shari'ah-compliant banks that cannot pay or receive interest, a similar ability to place funds at the bank of England as conventional banks.
“I welcome the UK’s continued support of Islamic Finance. By doing so we are demonstrating that the UK values inclusion, equal access, and equal opportunity. By living out these values we not only do the right thing, but we ensure the economic and social prosperity of our societies," British Ambassador to Indonesia and Timor Leste Owen Jenkins said.
"I hope Indonesian financial institutions will consider taking advantage of this new opportunity," he added.
Under the ALF model, participant deposits are backed by a fund of high-quality Shari'ah-compliant securities known as sukuk.
The return from these instruments, net of operating costs, will be paid to depositors in lieu of interest. In the first instance, the fund has purchased sukuk issued by the Islamic Development Bank.
This further strengthens the UK’s position as the leading center of Islamic finance outside of Muslim-majority countries.
The UK was the first non-Muslim majority country to issue a Sovereign Sharia-compliant Sukuk in 2014, and a green Sukuk to unlock US $30+ billion of investment into green and sustainable activities at COP26.
“The ALF will help the UK Islamic finance sector to compete with conventional peers while staying true to their founding principles; and will further strengthen the United Kingdom’s role as the leading international financial center for Islamic finance outside the Muslim world," Head of Sterling Markets, Rhys Phillips said.
Islamic banking is a relatively young but growing sector of the broader financial services industry. Numerous banks around the world offer Islamic, or Shari'ah-compliant, financial products. Among other things, this activity avoids the payment or receipt of interest.
Islamic banks in the UK are subject to the same strict regulatory requirements as conventional banks. This includes holding a buffer of high-quality liquid assets (HQLA), to meet obligations as they fall due.
Islamic banks now can hold deposits at the central bank to help meet their buffer requirements, having previously been unable to do this because deposits at the Bank of England are typically interest-bearing.
The establishment of the Alternative Liquidity Facility is part of the Bank of England’s commitment to diversity, innovation, and financial inclusion.
This will help ensure fair and equal access and support from the central bank, by enabling Islamic banks - and any other UK banks facing formal restrictions from engaging in interest-based activity - to hold deposits at the central bank, just as conventional ones can.
Islam is the second-biggest religion in the UK with 5% of the UK population – or 3.4 million people – being Muslim. (VOI)
December
Philippines grapples with typhoon aftermath as death toll tops 300
Written by Nur Yasmin
More than 300 people have been in killed by a powerful typhoon in the Philippines that destroyed homes, flooded towns, severed power and communications lines and displaced hundreds of thousands in its central and southern regions.
Military airplanes and naval vessels were dispatched on Monday to carry aid to areas devastated by Typhoon Rai, as the country grappled withthe strongest of 15 such storms to hit the archipelago this year.
"We are still assessing the damage, but it is huge," Defense Secretary Delfin Lorenzana told reporters on Monday. "The first thing we are doing is address the food and water (supplies) and medical care of the injured."
Lorenzana told the armed forces to deliver relief goods using all available assets, and send in more troops if necessary.
The number of storm-related deaths climbed throughout Monday as rescue efforts continued in hard-hit areas.
As of 1000 GMT, the death toll from Rai has risen to 375, the police said in a report, making it one of the deadliest typhoons to have struck the Southeast Asian nation. The number of injured has climbed to 500, while 56 people were missing.
The count, which according to the police was subject to validation, far outstripped the 58 deaths recorded by the national disaster agency, which said it was still checking reports from affected areas.
The majority of the deaths reported by police were in the central region of Visayas, home to dive spots in Bohol province, among some of the most popular tourist destinations, and the Caraga region in northeastern Mindanao.
Provincial governor Arthur Yap told broadcaster CNN Philippines he feared the death toll could rise further, as a lack of mobile telephone links made it hard to gather information.
Rai, which made landfall as a category 5 typhoon on Thursday, revived memories of the devastation brought in 2013 by Typhoon Haiyan, one of the most powerful tropical cyclones ever recorded, which killed 6,300 people in the Philippines.
Rai displaced nearly 490,000 people in the Philippines before moving toward the South China Sea over the weekend.
It left a trail of destruction in the provinces of Cebu, Leyte, and Surigao del Norte, including Siargao, which is popular with surfers, and the Dinagat Islands.
President Rodrigo Duterte, who visited typhoon-stricken areas over the weekend, promised funds of about 2 billion pesos ($40 million) to help in recovery efforts. (Reuters)
December
British cabinet discusses next moves as Omicron sweeps Europe
Written by Nur Yasmin
Britain's cabinet met on Monday as pressure grows to slow the spread of the Omicron coronavirus variant, a day after the Netherlands imposed a fourth lockdown and as other European countries consider putting a squeeze on Christmas.
Omicron infections are multiplying rapidly across Europe and the United States, doubling every two or three days in London and elsewhere and taking a heavy toll on financial markets, which fear the impact on the global economic recovery.
The variant was first detected last month in southern Africa and Hong Kong and so far been reported in at least 89 countries. The severity of illness it causes remains unclear.
Dutch Prime Minister Mark Rutte announced a shutdown on Saturday, ordering the closure of all but essential stores, as well as restaurants, hairdressers, gyms, museums and other public places from Sunday until at least Jan. 14. read more
Britain has reported record levels of COVID-19 cases in recent days.
"At this point we are still monitoring the data and keeping a very close eye on it," a spokesperson for Prime Minister Boris Johnson said when asked about the possibility of further restrictions. "We will update the public if there are any further measures required, at the earliest possible opportunity."
The Sun newspaper said no announcement was expected on Monday. read more
Any decision to limit how people can celebrate Christmas would come at a high political cost for Johnson, whose authority has been undermined by questions over whether he and his staff broke lockdown rules last year. read more
Germany plans to limit private gatherings from Dec. 28 to a maximum of 10 people who have been vaccinated or recovered from COVID-19, according to a draft of proposed measures seen by Reuters on Monday.
The document also said that access to restaurants would remain limited to people who could provide proof of vaccination or recovery. read more
Ireland on Friday ordered bars and restaurants to close at 8 p.m. and reduced the capacity in all public events. Italy is also considering new measures, newspapers reported on Sunday.
FOOTFALL AND CONSUMPTION
Wall Street's main indexes opened lower on Monday, dragged down by concerns about the impact of tighter COVID-19 curbs on the global economy. The Dow Jones Industrial Average (.DJI) fell 143.32 points, or 0.41%, at the open to 35,222.12.
European stocks (.STOXX) were down 1.33% at 11440 GMT. Shopper numbers across Britain's high streets fell 2.6% over the Dec. 18-19 weekend versus the previous weekend, researcher Springboard said. read more
Last week, the European Central Bank cut its euro zone growth forecast for next year to 4.2% from 4.6% previously, citing the pandemic among "headwinds".
ECB President Christine Lagarde said that, even if economies were learning to adapt to living with COVID-19, tighter restrictions could delay the recovery.
Gilles Moec, Axa Group chief economist, said in a note on Monday that a "mediocre" first quarter of the year was now possible across Europe and the United States.
"Even beyond the government measures, which are increasingly severe and are already affecting the travel industry in many European countries, businesses are often 'taking things into their own hands' and reverting to working from home including in U.S. cities which have not mandated this (e.g. in New York City). Less footfall will probably affect consumption."
Israel added the United States to its "no-fly" list, citing concerns over the Omicron variant. U.S. infectious disease expert Anthony Fauci said Omicron was "raging through the world" as he urged Americans to get booster shots.
Since the start of the month, U.S. COVID cases have risen 50%, according to a Reuters tally.
New York state recorded its third straight day of record cases with more than half in New York city, where Mayor Bill de Blasio called for the country to "go on a war footing" to fight Omicron with vaccinations.
Booster shots, on top of two-shot vaccinations, appear key to fighting the variant. Moderna Inc (MRNA.O) said on Monday a booster dose of its vaccine seemed to be protective against Omicron in laboratory testing, and that the current version of the shot would remain Moderna’s "first line of defence". read more
Australia for its part is pushing to ease curbs despite a predicted surge in infections, hoping inoculations will help keep people out of hospital. read more
More than 274 million people have been reported to be infected by the coronavirus globally since the first cases were identified in China in December 2019. More than 5.65 million people have died.
The World Economic Forum on Monday postponed its annual meeting in Davos due to the spread of Omicron, putting off the event scheduled for January until mid-2022. read more
Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/2FThSv7 in an external browser.
Eikon users can click https://apac1.apps.cp.thomsonreuters.com/cms/?navid=1063154666 for a case tracker. (Reuters)
December
Thais resell private COVID-19 vaccination slots as free supplies build
Written by Nur Yasmin
Some Thais who had scrambled to book private hospital appointments to receive the Moderna (MRNA.O) COVID-19 vaccine have taken to social media to resell their slots after an influx of free government-supplied shots in recent weeks.
A Facebook group with about 4,800 members, called Moderna First Lot Reservations, had users selling doses for around 1,000 baht ($29.82) with some offering to buy shots for as low as 800 baht, down from an original price of 1,650 baht.
"People can transfer, extend or sell their bookings, but seeking big profits was not suitable," Private Hospital Association President, Chalerm Harnpanich, told Reuters.
One Twitter user offered four doses of the Moderna vaccine for 1,450 baht each.
"I booked them for my family, but they have been vaccinated so I'm letting them go," the user posted on Sunday evening.
Thailand's vaccine drive got off to a slow start in June with supply shortages, confusion over registration and other delays.
The Government Pharmaceutical Organization at the time ordered five million doses of Moderna for private hospitals. As coronavirus cases surged, people rushed to make reservations, snapping up pre-orders within minutes.
But in recent months the government's free programme using Pfizer-BioNTech (PFE.N)(22UAy.DE) and AstraZeneca (AZN.L) has gained pace, while coronavirus cases have also fallen after peaking in August.
Thailand has reported a total of 2.2 million infections and 24,408 deaths.
About 61% of Thailand's estimated 72 million people living in the country have received two doses.
Pfizer vaccines arrived in September and later the government announced its main programme would be a combination of AstraZeneca and Pfizer shots.
Chalerm said his Bangkok Chain Hospital Pcl (BCH.BK) has administered around 260,000 Moderna shots so far and that the time gap for booster doses has been shortened due to concerns over the Omicron variant. Thailand on Monday reported its first local transmission of the variant. (reuters)
December
China says Taiwan is a 'wanderer' that will eventually come home
Written by Nur Yasmin
Taiwan is a "wanderer" that will eventually come home and not a chess piece to be played with, the Chinese government's top diplomat said on Monday, drawing a strong riposte from the island's government.
China claims democratically governed Taiwan as its own territory and has in the past two years stepped up military and diplomatic pressure to assert its sovereignty claims, fuelling anger in Taipei and deep concern in Washington.
Speaking in Beijing, State Councillor and Foreign Minister Wang Yi said the cause of current tensions was the Taiwan government's attempts to "rely on the United States for independence" and the United States and other countries trying to "use Taiwan to control China".
"It is these perverse actions that have changed the status quo and undermined the peace in the Taiwan Strait, violating the consensus of the international community and the basic norms of international relations," said Wang, a former head of China's Taiwan Affairs Office.
To respond to this, China had taken "forceful countermeasures" to "shock the arrogance" of those who seek Taiwan's formal independence, he said.
"Taiwan is a wanderer who will eventually come home, not a chess piece to be used by others. China must and will be reunified."
Taiwan's China-policymaking Mainland Affairs Council said in response that the island had never been a part of the People's Republic of China.
"It is neither a wanderer nor a chess piece," it said in a statement sent to Reuters.
"Only the 23 million people of Taiwan have the right to decide Taiwan's future, and absolutely will not accept a path laid out by an autocratic political system."
China has been particularly angered by support for Taiwan from the United States, the island's most important international backer and arms supplier despite the absence of formal diplomatic ties.
Taiwan's government has repeatedly denounced China's pressure, saying that they will not give in to threats.
The defeated Republic of China government fled to Taiwan in 1949 after losing a civil war with the Communists, who established the People's Republic of China. (Reuters)
December
New Zealand links 26-year-old man's death to Pfizer COVID-19 vaccine
Written by Nur Yasmin
New Zealand authorities on Monday said they had linked a 26-year-old man's death to Pfizer Inc's (PFE.N) COVID-19 vaccine after the person suffered myocarditis, a rare inflammation of the heart muscle, after taking his first dose.
The death is New Zealand's second linked to a known but rare side effect from the vaccine after health authorities in August reported a woman had died after taking her doses. read more
"With the current available information, the board has considered that the myocarditis was probably due to vaccination in this individual," a COVID-19 Vaccine Independent Safety Monitoring Board said in a statement.
The man, who died within two weeks of his first dose, had not sought medical advice or treatment for his symptoms. Myocarditis is an inflammation of the heart muscle that can limit the organ's ability to pump blood and can cause changes in heartbeat rhythms.
A Pfizer spokesperson said the company was aware of the report of the death in New Zealand, it monitored all reports of possible adverse events, and continued to believe the benefit-risk profile for its vaccine was positive.
New Zealand's vaccine safety board also said another two people, including a 13-year-old, had died with possible myocarditis after taking their vaccinations. More details were needed before linking the child's death to the vaccine, while the death of a man in his 60s was unlikely related to the vaccine, it said.
Despite the rare side effects, the vaccine safety board said the benefits of vaccination greatly outweighed the risks. (Reuters)
December
Thai agency approves Pfizer vaccine for use in children aged 5-11
Written by Nur Yasmin
Thailand's Food and Drug Administration said on Monday it has approved the use of the Pfizer-BioNTech COVID-19 vaccine for children between the age of five and 11.
The Comirnaty vaccine, which is the first to be approved in the Thailand for the age group, will be given in two 10 microgram doses, 21 days apart, the drug regulator said in a statement. (Reuters)