5 Minutes Read

China virus spreads to US, curbing travel plans and spooking markets

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

A traveller from China was diagnosed in Seattle with the Wuhan coronavirus, the US Centers for Disease Control and Prevention (CDC) said, the first case identified in the United States. The patient was in good condition, the CDC said.

The toll from the Wuhan coronavirus in China rose to six deaths on Tuesday and the first case was reported in the United States, sending markets tumbling on fears of economic damage as tourists cancelled travel plans and airports stepped up screening.

The virus struck as millions of Chinese prepared to travel for the Lunar New Year, heightening contagion risks. Many in China scrambled to buy face masks to protect themselves from the previously unknown, flu-like infection.

The outbreak, which began in the central Chinese city of Wuhan, also worried financial markets as investors recalled China’s Severe Acute Respiratory Syndrome (SARS) epidemic in 2002-2003, a coronavirus outbreak that killed nearly 800 people.

“We’ll stay at home during the holiday. I’m scared as I remember SARS very well,” said Zhang Xinyuan, who had been bound from Beijing for the Thai resort of Phuket before she and her husband decided to cancel their air tickets.

A traveller from China was diagnosed in Seattle with the Wuhan coronavirus, the US Centers for Disease Control and Prevention (CDC) said, the first case identified in the United States. The patient was in good condition, the CDC said.

The agency said it expected to see more cases in the United States, had developed a new test to identify the virus and was in talks with the National Institutes of Health about developing a vaccine.

Authorities have confirmed more than 300 cases of the virus in China, mostly in Wuhan. Wuhan Mayor Zhou Xianwang told Chinese state television on Tuesday that six people had died in his city.

The disease is spreading around other parts of China, including five cases in capital Beijing.

Cases have also been confirmed in Thailand, South Korea, Japan and Taiwan, all involving people who had been to Wuhan.

Fifteen medical personnel are among those infected.

Symptoms include fever, coughing and difficulty breathing. The viral infection can cause pneumonia.

MEDICS AND MARKETS ALARMED

The World Health Organization (WHO) is set to hold a meeting on Wednesday to consider whether the outbreak is an international public health emergency.

“Information about newly reported infections suggest there may now be sustained human-to-human transmission,” said WHO’s regional director for the western Pacific, Takeshi Kasai.

North Korea is planning to temporarily ban foreign tourists, who are mainly Chinese, a foreign tour operator said.

Though the origin of the virus has yet to be identified, WHO said the primary source was probably animal. Chinese officials have linked the outbreak to Wuhan’s seafood market.

The scare stirred risk aversion on global markets, with Asia particularly hit.

Hong Kong, which suffered badly during the SARS outbreak, saw its index fall 2.8 percent. Japan’s Nikkei lost 0.9 percent and Shanghai blue chips fell 1.7 percent.

In Europe, shares of luxury goods makers were among those declining the most. Chinese shoppers account for most of the growth in the sector, and investors worried that health fears could deter Chinese consumers from travelling or shopping.

A U.S. index of airline stocks fell 2.3 percent and hotel and casino operators Las Vegas Sands Corp and Wynn Resorts Ltd, both of which have large operations in China, dropped over 4 percent.

Shares of flu shot makers such as NanoViricides and Novavax soared.

China’s yuan fell almost 0.7% in offshore trading to 6.9126 per dollar. Onshore, it dipped to its lowest in over a week at 6.9094.

“The outbreak of a SARS-like coronavirus in Wuhan is developing into a major potential economic risk to the Asia-Pacific region now that there is medical evidence of human-to-human transmission,” said Rajiv Biswas, Asia Pacific chief economist for IHS Markit.

MORE SCREENING AND MASKS

So far, the WHO has not recommended trade or travel restrictions, but they may be discussed on Wednesday.

Airports in the United States, Australia and across Asia have begun extra screening for passengers from Wuhan.

In the city itself, officials have been using infrared thermometers to screen passengers at airports, railway stations and other passenger terminals since Jan. 14.

The Lunar New Year is a major holiday for Chinese, many of whom travel to join family or have a foreign vacation.

Long lines formed to buy face masks in cities. Some online vendors limited sales of masks and hand sanitizers as demand surged.

Shanghai city’s market regulator warned it would punish speculators hoarding masks or other products used for preventing infectious diseases, according to the Shanghai Observer web publication.

Chinese travel booking platforms from Trip.com to Alibaba Group’s Fliggy said they would offer free cancellations on bookings made for Wuhan, while South Korean budget airline T’way Air postponed its launch of a new route to the city.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
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 5 Minutes Read

Seven Indian airports screening passengers arriving from China, Hong Kong for coronavirus

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The government has expanded screening of passengers arriving from China and Hong Kong to seven airports of Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad and Cochin on account of threat of a new respiratory coronavirus.

The government has expanded screening of passengers arriving from China and Hong Kong to seven airports of Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad and Cochin on account of threat of a new respiratory coronavirus.

The screening was earlier being done at the airports of Delhi, Mumbai and Kolkata.

In order to facilitate early detection of patients suffering from this virus in the flights coming from China and Hong Kong, the civil aviation ministry has asked airlines to make in-flight announcements requesting passengers who have travelled to Wuhan city in the last 14 days and who are suffering from fever and cough to self-declare at port of arrival or to State Health Authorities.

Airlines have been asked to guide the passengers to fill up self-reporting forms before disembarking the aircraft so that the information can be assessed by concerned officials on arrival.

The civil aviation ministry has also asked airports to make arrangements for the thermal screening of passengers before they go towards the immigration area.

Travellers who start suffering from fever, cough and shortness of breath within 28 days of arrival in India should also visit the nearest hospital and report to health authorities, the government has said.

“Operational procedures recommended by the International Air Transport Association (IATA) with regard to managing the suspected communicable disease on board an aircraft. All passengers and crew who are otherwise healthy should be allowed to continue their onward journey. If the ill passenger or crew member is confirmed as a probable case of Wuhan Corona Virus, public health authorities should be notified about the contacts using the Passenger Locator Form,” the government’s advisory said.

Several countries have increased checks at airports to detect the symptoms of the coronavirus which first emerged in the Chinese city of Wuhan.

Indian carriers like Air India, IndiGo, SpiceJet connect India and Hong Kong among other global airlines. As far as China is concerned, Indigo and Air India are the two Indian carriers, other than China Southern, Air China and other airlines.

The outbreak of the virus comes when millions of Chinese travel to their hometowns and overseas to celebrate Lunar New Year, which is also called by many as the world’s biggest annual mass migration.

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3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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What to know about China’s coronavirus outbreak?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Common symptoms include a runny nose, headache, cough and fever. Shortness of breath, chills and body aches are associated with more dangerous kinds of coronavirus

Health authorities are closely watching an outbreak of respiratory illness caused by a new virus that originated in China. Governments are stepping up surveillance of airline passengers from central China and taking other steps to try to control the outbreak.

Here’s what you should know about the illness:

WHAT IS THE NEW VIRUS?

Scientists have identified it as a new coronavirus. The name comes from the Latin word for crowns or halos, which coronaviruses resemble under a microscope. The coronavirus family has many types that affect people. Some cause the common cold while others originating in bats, camels and other animals have evolved into more severe illnesses such as SARS — severe acute respiratory syndrome — or MERS — Middle East respiratory syndrome.

WHERE DID IT COME FROM?

The first cases appeared last month in Wuhan, a city in central China’s Hubei province. Many of the first people infected had visited or worked at the Huanan Seafood Wholesale Market in Wuhan, which has since been closed for an investigation. Chinese health officials say they believe the illness first spread from animals to people. They now say it can spread between people.

HOW WIDESPREAD IS IT?

China has identified 440 cases and nine deaths, most of the illnesses and all of the deaths in Hubei province. Cases have also been confirmed in Thailand, South Korea, Japan, the U.S. and Taiwan. The outbreak coincides with China’s busiest travel season as people visit their families or go abroad for the Lunar New Year holiday. That travel rush is expected to spread the disease more widely.

WHAT ARE THE SYMPTOMS?

Common symptoms include a runny nose, headache, cough and fever. Shortness of breath, chills and body aches are associated with more dangerous kinds of coronavirus, according to the U.S. Centers for Disease Control and Prevention. In serious cases, the virus can cause pneumonia.

HOW IS IT TREATED?

There is a test to identify the virus, but no vaccine to prevent an infection. Patients with the virus have been isolated in hospitals or homes to prevent spreading it. The symptoms are treated with pain and fever medication, and people are advised to drink plenty of liquids and rest while they recover.

HOW IS IT SPREADING?

Many coronaviruses can spread through coughing or sneezing, or by touching an infected person. Scientists believe the new virus can spread from person to person in close contact through the respiratory tract.

COULD IT BE AS BAD AS SARS?

So far, the virus appears less dangerous and infectious than SARS, which also started in China in 2002-03 and killed about 800 people. However, viruses can mutate into more dangerous and contagious forms, and it’s too early to say what will happen with this one.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?