2-year-old is latest MERS victim

May 15, 2014

MERS_victimJeddah/Geneva, May 15: The Ministry of Health reported five deaths and 16 new cases of the MERS coronavirus, which included a two-year old infant with congenital problems in Madinah, on Wednesday.

However, the WHO said the spread of the puzzling virus doesn’t yet constitute a global health emergency. The decision was made after a meeting of WHO expert group.

“Calling a global emergency in a world which has a lot of urgent issues going on is a major act,” Dr. Keiji Fukuda, an assistant director-general of WHO, told reporters. “You have to have really solid information to say this is a global emergency.”

Fukuda said there wasn’t yet proof of the virus’ sustained transmission among people.

“People might think (WHO) is crying wolf because MERS is still primarily a problem in the Middle East,” said Michael Osterholm, an infectious diseases expert at the University of Minnesota who has worked in the Middle East. “But if one of those infected people gets on a plane and lands in London, Toronto, New York or Hong Kong and transmits to another 30 people, everyone will have a different view.”

On Wednesday, the Netherlands’ National Institute for Public Health and the Environment announced its first case of MERS, a man who became infected during a visit to Saudi Arabia. He is now in isolation at a hospital in The Hague.

Dr. Clemens Wendtner, who treated a German MERS patient in Munich last year, said the current spread of MERS should not set off a global alarm. He was not part of the WHO meeting.

“I do not see an international threat or a pandemic (being caused) by MERS,” he wrote in an e-mail. He said the spread of MERS to humans was still exceptional and that the disease was mostly affecting animals.

Meanwhile, a Saudi ministry official said that two of the five deaths were among the new cases, while the other three fatalities were among patients who had been previously diagnosed.

This brings the death toll to 157 since September 2012.

Two men, aged 55 and 57 who had been previously diagnosed, died in Jeddah, while the third was a 60-year-old woman in Riyadh.

The 16 new cases include 12 women, of whom nine from Riyadh, five from Jeddah and two from Madinah.

Female patients in Riyadh are aged 23, 31, 40, 41, 55, 60 and 63. Among them, the 60-year-old woman died following a heart attack after surgery, while the 63-year-old died due to chronic liver problems.

Two men, aged 71 and 72, suffer from severe diabetes, in addition to respiratory diseases.

They are still not out of danger and are being treated at the intensive care unit (ICU) of a government hospital.

Among the new cases in Jeddah were three women, aged 36, 42 and 53, while the two men are aged 43 and 57.

Four patients are in stable condition, while the 53-year-old woman developed respiratory symptoms and is currently at the ICU of a private hospital.

In Madinah, a two-year-old child with congenital anomalies who had developed respiratory symptoms has been admitted to the ICU of a government hospital.

The other patient is a 41-year-old woman who had been in contact with a confirmed virus case.

Three patients who had made a full recovery were discharged from hospitals in Jeddah and Madinah.

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Agencies
June 9,2020

Dubai, Jun 9: Dubai's Emirates airline has begun laying off employees to reduce cost and save cash as the carrier looks to rightsize its workforce.

"We at Emirates have been doing everything possible to retain the talented people that make up our workforce for as long as we can. However, given the significant impact that the pandemic has had on our business, we simply cannot sustain excess resources and have to rightsize our workforce in line with our reduced operations. After reviewing all scenarios and options, we deeply regret that we have to let some of our people go," the spokesperson said in the statement.

Citing sources, Reuters and Bloomberg earlier reported that a majority of those being made redundant are cabin crew workers as well as a minority of its engineers and pilots, including those flew the Airbus A380.

"This was a very difficult decision and not one that we took lightly. The company is doing everything possible to protect the workforce wherever we can. Where we are forced to take tough decisions we will treat people with fairness and respect. We will work with impacted employees to provide them with all possible support," said the statement.

The spokesperson, however, didn't disclose how many employees are being made redundant in this latest round of rightsizing the workforce.

Emirates on Sunday confirmed that it extended the period of reduced pay for its staff for another three months till September. It had previously reduced basic wages by 25 to 50 per cent for three months from April, with junior employees exempted.

The airline had employed around 60,000 people at the end of its 2019-20 financial year.

Saj Ahmad, chief analyst at StrategicAero Research, said the announced job cuts at Emirates will likely not be the last given the unprecedented damage that Covid-19 has had not just on air travel, but on the entire aviation industry as a whole.

"Emirates' massive international network means that job reductions were always a last resort option as the company staves off cash burn and expenses at a time when revenues are dried up. While Emirates SkyCargo is enjoying a resurgence in activities, the reality is that this income will never offset the lost money from passenger operations," he added.

"Whilst some salary reduction schemes have prevented bigger job cuts for now, the absence of a cure or medicinal suppressant of Covid-19 means that air travel is unlikely to even reach pre-9/11 levels within 3-5 years, let alone pre-Covid-19 levels in that same time period. For that reason, Emirates' reduction in headcount is necessary to stay competitive, agile and be ready for when air travel can resume with a degree of normalcy that we have been accustomed to for decades," said Ahmad.

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Agencies
June 18,2020

New Delhi, Jun 18: Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore, taking the cumulative fund raising to about Rs 1.16 lakh crore in two months.

Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.

The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore", the company said in a statement.

With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic, resulting in a recession kind of environment for the global economy.

"With the addition of PIF's investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India," the statement said.

Jio Platforms houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data.

Over the past two months, billionaire Mukesh Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.

These will help Reliance meet its target of paying off Rs 1.61 lakh crore of net debt by the end of the year.
This is PIF's largest investment into the Indian economy to date.

Ambani, chairman and managing director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From oil economy, this relationship is now moving to strengthen India's New oil (data-driven) economy, as is evident from PIF's investment into Jio Platforms."

Yasir Al-Rumayyan, governor of PIF, commented: "We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth."

"This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," he said.

The transaction is subject to Indian regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Prior to this deal, Reliance had sold 22.38 per cent of Jio Platforms to investors including Facebook Inc, securing Rs 104,326.95 crore in eight weeks.

Facebook kicked off the party, investing Rs 43,573.62 crore for a 9.99 per cent stake on April 22. This was closely followed by a further Rs 60,753.33 crore in investment.

Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore on May 4. It invested another Rs 4,546.80 crore for additional 0.93 per cent stake on June 5, taking its total holding to 2.08 per cent
Private equity KKR and Vista Equity Partners have taken 2.32 per cent stake each for Rs 11,367 crore apiece. KKR invested in Jio Platforms on May 22 while Vista invested on May 8.

Abu Dhabi sovereign wealth fund Mubadala Investment Co picked up 1.85 per cent in Jio Platforms for Rs 9,093.60 crore on June 5. Abu Dhabi Investment Authority on June 7 invested Rs 5,683.50 crore for a 1.16 per cent stake in Jio Platforms.

On May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

Global investment firm TPG on June 13 picked up 0.93 per cent for Rs 4,546.80 crore while L Catterton bought 0.39 per cent for Rs 1,894.50 crore.

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News Network
April 11,2020

Dubai, Apr 11: Saudi Arabia has reported another 382 new cases of coronavirus, bringing the total number of infections in the country to 4,033, the Ministry of Health announced on Saturday.

The ministry also confirmed five more deaths from the virus, pushing the death toll in Kingdom to 52.

A total of 35 people has made full recovery from the deadly disease, taking the tally of patients recovered to 720.

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