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  • AIB
  • Mar, Mon, 2020
Foreign

1,100 virus lockdown arrests as Malaysian cases pass 2,600

1,100 virus lockdown arrests as Malaysian cases pass 2,600

Arrests

Kuala Lumpur, March 30, 2020 (dpa/NAN) Malaysian Police have arrested at least 1,100 people for violating a lockdown aimed at curbing a recent spike in coronavirus cases.

At 2,620 confirmed infections, Malaysia has the highest national total in South-East Asia.

During a Monday press conference, Defence Minister, Ismail Sabri Yaakob said that 828 people were arrested on Sunday for breaching movement restrictions imposed on March 18.

Police had earlier announced over 300 arrests for alleged violations such as jogging and playing football.

One suspect, a 61-year-old cardiologist, told the Police that running should be permitted for health reasons.

A video of the encounter went viral on Malaysian social media last week.

The suspect pleaded not guilty in court on Monday.

Giving notice of further restrictions, aimed at halting the spread of COVID-19, the respiratory disease caused by the new coronavirus pandemic that has killed about 35,000 worldwide, Ismail said shops will reduce operating hours from Wednesday.

“All supermarkets or any premises selling essential items shall observe the new operation hours, which is from 8.00 a.m. to 8.00 p.m.,’’ the minister said.

The lockdown in Malaysia includes closing borders and most businesses.

The government has repeatedly warned people to “duduk rumah”, or stay at home – unless venturing out to shops, markets, pharmacies or other purveyors of essential goods.

Restaurants are permitted to operate, but only as take-away or delivery outlets.

Though some taxis still ply their trade and employees in permitted sectors such as banks and utilities drive to and from work, most of Kuala Lumpur’s sparse traffic is comprised of food delivery couriers.

Ismail used his Monday press conference to dispense some “social distancing” counsel, suggesting that couriers should leave deliveries at customers’ doors.

“We should try to avoid contact with other people, in order to reduce the chances of spreading the virus,’’ he said.

On Monday, the Health Ministry said that two more people had died after contracting COVID-19, taking Malaysia’s death toll to 37.

Some 94 people were in intensive care with the disease.

Around half of Malaysia’s confirmed COVID-19 diagnoses have been traced to an Islamic ceremony held in Kuala Lumpur’s outskirts in late February that was attended by an estimated 15,000 people and spawned cases in several neighbouring countries.

Officials have claimed that unless Malaysians stick to the lockdown rules, the country’s caseload could hit 6,000 by mid-April.

Aided by drones conducting aerial patrols, soldiers have joined the Police in manning more than 1,500 roadblocks and checkpoints aimed at enforcing the restrictions.

“The second phase of the lockdown will see an increase from the aspect of roadblocks and checking on the movement of people,’’ Ismail said.

Health Ministry Director-General, Noor Hisham Abdullah, said it is “too early to say” if Malaysia’s lockdown will end on April 14 as scheduled.

“We will only know after the first week of April’’ he said, speaking at a separate press conference. (dpa/NAN)

AIB

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Edited by Abdulfatah Babatunde

  • AIB
  • Mar, Mon, 2020
Foreign

Austria rolls out face mask obligation to bring infection rate down

Masks

Vienna, March 30, 2020 (dpa/NAN) All Austrians will have to wear face masks while shopping, the government announced on Monday, introducing yet another tough measure to slow down the spread of the novel coronavirus.

Austria is one of the European countries taking the earliest and strictest steps against the COVID-19 coronavirus disease.

Besides Austria, the Czech Republic introduced obligatory face masks in public on March 18.

Once supermarket retail chains have received the masks, every shopper will be handed the protective gear when entering stores, Chancellor Sebastian Kurz told a press conference.

In the medium term, wearing masks will also become obligatory in other situations where people come into close contact, according to the government plan.

Kurz acknowledged that such protective gear seems like a strange Asian custom.

“It’s not part of our culture and it will be a big adjustment for us, but it’s necessary that we take this step to further reduce transmission,’’ he said.

The government cautioned that the masks do not protect wearers, but are meant to prevent them from spreading infectious cough droplets.

The number of COVID-19 coronavirus disease cases rose above 9,000 on Monday, while the number of dead surpassed 100, according to the Health Ministry.

The daily increase of new infections has fallen to an average of 11 per cent during the past four days, far below the peak rate of 40 per cent.

Austria has been under lockdown for the past two weeks.

Schools have stopped lessons, nearly all shops are shuttered, and all restaurants, bars and public venues are closed.

“These measures are not only the rights ones, but they also work.

“However, we still have to significantly reduce virus transmission in Austria,’’ Kurz said.

In addition to the obligatory face masks, the government is working to improve a Red Cross mobile phone app that alerts users when one of their contacts has been infected.

Kurz did not elaborate whether the currently voluntary app will become obligatory, or whether the government has plans to tap the data. (dpa/NAN)

AIB

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Edited by Abdulfatah Babatunde

  • AIB
  • Mar, Mon, 2020
Foreign

Nearly 12,300 Spanish health workers have coronavirus

Workers

Madrid, March 30, 2020 (Reuters/NAN) Some 12,298 health workers have tested positive for coronavirus in Spain, Deputy Health Emergency Chief, Maria Jose Sierra, said at a news conference on Monday.

That is equivalent to around 14 per cent of the country’s 85,195 confirmed cases, roughly the same proportion as last week. (Reuters/NAN)

AIB

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Edited by Abdulfatah Babatunde

  • AIB
  • Mar, Mon, 2020
Economy

U.S. crude dips below $20 as lockdowns hit demand

Demand

London, March 30, 2020 (Reuters/NAN) Oil prices fell sharply on Monday, with U.S. crude briefly dropping below $20 and Brent, hitting its lowest level in 18 years, on heightened fears that the global coronavirus shutdown could last months and demand for fuel could decline further.

Brent crude, the international benchmark for oil prices, was down $2.09, or 8.4 per cent, at $22.84 by 0917 GMT, after earlier dropping to $22.58, the lowest since November 2002.

U.S. West Texas Intermediate (WTI) crude fell $1.11, or 5.2 per cent to $20.40.

Earlier in the session, WTI fell as low as $19.92.

The price of oil is now so low that it is becoming unprofitable for many oil firms to remain active, analysts said and higher-cost producers will have no choice but to shut production, especially since storage capacities are almost full.

“Global oil demand is evaporating on the back of COVID-19-related travel restrictions and social distancing measures,’’ said UBS oil analyst, Giovanni Staunovo.

“In the near term, oil prices may need to trade lower into the cash cost curve to trigger production shut-ins to start to prevent tank tops to be reached,’’ he added.

Rystad Energy’s Head of Oil Markets, Bjornar Tonhaugen said the oil market supply chains are broken due to the unbelievably large losses in oil demand, forcing all available alternatives of supply chain adjustments to take place during April and May,’’ including cutting refineries runs and increasing storage.

Besides demand destruction, oil markets have also been slammed by the Saudi Arabia-Russia price war that is flooding markets with extra supply.

An official from Saudi Arabia’s Energy Ministry said on Friday the kingdom was not in talks with Russia to balance oil markets despite rising pressure from Washington to stop the rout that has cut prices by more than 60 per cent this year.

With world demand now forecast to plunge 15 million or 20 million barrels per day, a 20 per cent drop from last year, analysts say massive production cuts will be needed beyond just the Organisation of the Petroleum Exporting Countries.

“OPEC, Saudi Arabia and Russia could mend their differences, but there’s not that much OPEC could do

“…. The demand shock from COVID-19 is just too big,’’ said Lachlan Shaw, National Australia Bank’s Head of Commodities Research.

The contango spread between May and November Brent crude futures reached its widest ever at $13.45 a barrel, while the six-month spread for U.S. crude broadened to minus $12.85 a barrel, the widest discount since February 2009.

Prompt prices are lower than those in future months in a contango market, encouraging traders to store oil for future sales.

Asian shares also slipped on Monday despite the all-out efforts of central banks to bolster markets with rate cuts and asset-buying campaigns.

China’s central bank unexpectedly cut the rate on reverse repurchase agreements by 20 basis points on Monday, the largest in nearly five years, as authorities ramped up steps to relieve pressure on an economy ravaged by the coronavirus pandemic. (Reuters/NAN)

AIB

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Edited by Abdulfatah Babatunde

  • AIB
  • Mar, Tue, 2020
Foreign

Indian police clear key citizenship law protest amid lockdown

Protest

New Delhi, March 24, 2020 (dpa/NAN) A protest led by Muslim women in New Delhi, considered the epicentre of the agitation against India’s citizenship law, was cleared on Tuesday amid measures to slow the spread of coronavirus in the country.

Delhi police officers cited the ban on public gatherings, under the current lockdown, as the reason for breaking up the protest at south Delhi’s Shaheen Bagh Park that has continued for over 100 days and inspired similar demonstrations across the country.

The protestors, who began the sit-in on Dec. 15, 2019, had not agreed to police requests to call it off.

“The Delhi Police used coercive force to dismantle our protest site, even though it had been scaled down to symbolic form considering COVID-19 precautions,’’ the protest organisers said on Twitter.

Six women and three male volunteers were detained, they said.

Similar demonstrations in New Delhi were also dispersed on Tuesday, media reports said.

India’s national capital, which has reported over 30 COVID-19 cases including one death, has shut public transport, sealed its borders and closed shops, allowing in only essential items.

Shaheen Bagh made domestic and international headlines over the past few months.

The women, also called Dadis (grandmothers in Hindi) of Shaheen Bagh were protesting against the law, which they call anti-Muslim.

Over 70 people have been killed in countrywide protests triggered by the Citizenship Amendment Act 2019 that fast-tracks Indian nationality for persecuted religious communities from three neighbouring countries but excludes Muslims.

Critics say the act undermines India’s secular constitution and is an attempt by the Hindu nationalist Bharatiya Janata Party government to marginalise Muslims. (dpa/NAN)

AIB

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Edited by Abdulfatah Babatunde

  • AIB
  • Mar, Sat, 2020
Foreign

Country music legend Kenny Rogers dies at age 81

Rogers

Los Angeles March 21, 2020 (dpa/NAN) U.S. country music icon, Kenny Rogers, has died at age 81, his family announced on Twitter early Saturday.

“The Rogers family is sad to announce that Kenny Rogers passed away last night at 10.25 p.m. at the age of 81,’’ the family wrote.

“Rogers passed away peacefully at home from natural causes under the care of hospice and surrounded by his family.’’

The singer-songwriter and record producer was best known for music hits like “The Gambler” and “Islands in the Stream”, the latter a duet he sang with Dolly Parton.

He also appeared in multiple TV and film acting roles.

Throughout his career, Rogers sold more than 120 million albums worldwide, according to his official website, with 20 platinum albums and 11 gold ones.

He embarked on a farewell world tour in 2016 to say “goodbye to his loyal legion of fans one city and one night at a time’’.

But it was cut short in early 2018 due to health reasons. (dpa/NAN)

AIB

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Edited by Abdulfatah Babatunde

  • AIB
  • Mar, Sat, 2020
Foreign

German coronavirus cases rise by 2,705 to 16,662

COVID-19

Frankfurt, March 21, 2020 (Reuters/NAN) The number of confirmed coronavirus cases in Germany has risen by 2,705 within a day to reach 16,662, the Robert Koch Institute for infectious diseases said on Saturday.

It said a total of 47 people had died after testing positive, an increase of 16 from a tally of 31 published on Friday. (Reuters/NAN)

AIB

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Edited by Abdulfatah Babatunde

  • AIB
  • Mar, Sat, 2020
Foreign

Mauritius says reports first death from coronavirus

Death

Nairobi, March 21, 2020 (Reuters/NAN) Mauritius has confirmed its first death from the coronavirus, while the number of confirmed cases has risen, a Health Ministry official said on Saturday.

“Mauritius has registered its first death linked to COVID-19.

“Actually, some 13 patients have been tested COVID-19 positive.

“Their state of health is stable and they are being treated in isolation,’’ Kavish Pultoo, Adviser on Information Matters at the Ministry of Health, told Reuters. (Reuters/NAN)

AIB

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Edited by Abdulfatah Babatunde

  • AIB
  • Mar, Thu, 2020
Economy

Oil pares gains as investors wait to see if coronavirus stimulus works

Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas U.S. Aug. 22, 2018. (Reuters photo)

Oil

Tokyo, March 19, 2020 (Reuters/NAN) Oil prices rose on Thursday but pared early gains as investors tried to assess how effective massive stimulus by central banks will be in shoring up the global economy as the shock from the coronavirus pandemic deepens.

Bucking panic selling in other financial markets, Brent crude was up 37 cents, or 1.1 per cent at $25.25 a barrel by 0355 GMT, having earlier risen to $27.19.

The global benchmark slumped 13 per cent on Wednesday on the third day of relentless selling.

U.S. oil gained $1.44, or 7.1 per cent, to $21.81 after surging nearly 20 per cent earlier.

The U.S. benchmark dropped nearly 25 per cent in the previous session.

“After a 24 per cent crash, oil prices are firming up on some selling exhaustion and as U.S. and European leaders unleash … aid and stimulus,’’ said Edward Moya, Senior Market Analyst at OANDA in New York.

Among the latest moves by a major central bank to try to mitigate the spiralling economic and financial fallout from the epidemic, the European Central Bank kicked off a 750 billion euro ($820 billion) emergency bond purchase scheme after an unscheduled meeting on Wednesday.

Japan is considering handing out cash to households as it faces the likelihood of recession after a sharp contraction of growth even before the outbreak, while South Korea and Australia also took action.

“Monetary and fiscal stimulus will do little in returning energy demand back to normal but it will build confidence that global economy will be in a better position once it is behind the virus,’’ Moya said.

Analysts are also slashing estimates for China, where the coronavirus outbreak originated, to the lowest since the Cultural Revolution came to an end in 1976, in a further grim outlook for the world’s second-largest economy and oil demand.

The spread of coronavirus is showing no sign of abating internationally.

Countries on every continent have resorted to drastic lockdowns to try to contain the virus that has now infected more than 200,000 people worldwide, killing more than 8,000.

Many analysts say a major global recession is in prospect.

OANDA’s Moya cautioned that the selling could start again in oil markets.

“A bottom for oil is not in place, but we could finally see some stabilisation if financial markets can maintain a somewhat constructive tone with all the stimulus that is about to hit,’’ he said.

While oil investors try to get a grip on the demand shock from the pandemic, supply keeps flowing into the market as major producers fight for market share.

Saudi Arabia’s Energy Ministry has directed national oil company, Saudi Aramco, to keep supplying crude oil at a record rate of 12.3 million barrels per day in the coming months. (Reuters/NAN)

AIB

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Edited by Abdulfatah Babatunde

  • AIB
  • Mar, Tue, 2020
Foreign

U.S. says people should avoid gatherings of more than 10 people

Gatherings

Washington, March 17, 2020 (dpa/NAN) The U.S. government outlined new coronavirus guidelines, urging people to avoid gatherings of more than 10 people, eating in restaurants and bars.

People should also make discretionary travel, in an effort to stem the spread of the disease.

Also, areas of California, including San Francisco announced fresh orders for residents to remain at home, unless it was absolutely necessary to go out.

The federal government measures also call on people to try to work from home and school children at home, when possible, and to not leave the house when ill.

In states with evidence of community transmission, bars, restaurants and gyms should close.

The guidelines are the latest sign of the seriousness of the new virus, and how significantly daily life will be affected, with economic implications that are still being digested.

U.S. President Donald Trump and public health officials insisted that it was up to younger people to follow the guidelines in order to slow the outbreak.

“It’s bad, it’s bad. But we’re going to be hopefully a best-case not a worst case,’’ Trump said.

The virus itself, he said was “not under control’’.

The president declined to dismiss the possibility of an economic recession.

“We’re not thinking in terms of recession,’’ Trump said, adding his focus was on fighting the virus.

The new restrictive recommendations are a “five-day trial,’’ Anthony Fauci, the government’s coronavirus expert, told a press briefing.

The trajectory of the outbreak could continue into the summer months.

Markets tumbled sharply as the new guidelines were laid out at a press conference, with the S&P 500 closing down nearly 12 per cent.

Trump said he was not considering nationwide quarantines at this point, keeping the focus on local hotspots.

He said he hopes they will not need domestic travel restrictions.

The U.S. Congress is facing increasing calls for action to help the real economy, as the measures to slow the spread of the virus are disrupting regular life across the country.

The effect of the pandemic on U.S. workers is likely to be severe, particularly given the relatively limited social safety nets and the high number of hourly wage earners, who often depend on their next paycheque to make rent.

The House of Representatives, last week, passed a bill meant to help some workers, but it is still stalled in the legislative process, amid warnings that the initial measure would not be enough to stop the bleeding.

“While some fiscal stimulation measures are being put into place, they’re not large or targeted enough to neutralise the contagion of the economic and market effects of the virus and they are being argued about,’’ Ray Dalio, founder of investment firm Bridgewater Associates, said in a LinkedIn post.

As he cut interest rates to near-zero on Sunday, Jerome Powell, the Chairman of the Federal Reserve, said fiscal policy typically plays a significant role in dealing with a crisis, in what appeared to be a hint to the government to act.

“We expect that the illness and the measures now being put in place to stem its spread will have a significant effect on economic activity in the near term,’’ he said.

The Fed has essentially dusted off much of its toolbox from the 2008 financial crisis to deal with the health crisis, but monetary policy alone will not suffice.

Republican Senator, Mitt Romney, called for the Senate to “act swiftly” while also needing to work urgently on additional response measures, such as providing $1,000 to every U.S. citizen to meet their short-term financial obligations.

Democratic Senate Minority Leader, Chuck Schumer, said he would propose a $750 billion stimulus plan as soon as Tuesday that would boost hospital capacity, expand unemployment insurance and provide aid to small businesses, among other steps.

At least, 70 people have died of COVID-19 in the U.S. and some 4,200 cases have been confirmed, according to data compiled by John Hopkins University.

Already, as the working week got underway, more than 30 states had shuttered their public school systems, which National Public Radio estimated affects more than 30 million children. (dpa/NAN)

AIB

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Edited by Abdulfatah Babatunde