Hong Kong Enters recession as protests erupt again in flames

Agencies
October 29, 2019

Hong Kong, Oct 29: Hong Kong has fallen into recession, hit by five months of pro-democracy protests that erupted in flames over the weekend, and is unlikely to achieve any growth this year, the city’s Financial Secretary said.

“The blow (from the protests) to our economy is comprehensive,” Financial Secretary Paul Chan said in a blog post, adding that a preliminary estimate for third-quarter GDP on Oct. 31 would show two successive quarters of contraction—the technical definition of a recession.

He said it would be “extremely difficult” to achieve the government’s pre-protest forecast of 0–1 percent annual economic growth.

The rallying cry of the Oct. 27 protests was to fight perceived police brutality and defend Muslims and journalists. Police last weekend fired water cannon at a group of people standing outside a mosque and journalists have been wounded in clashes.

The programming staff union of public broadcaster RTHK said on Oct. 28 that it had called on police to identify officers who “attacked and ripped the face mask” off one of its journalists on Oct. 27. It said she was wearing a reflective vest clearly identifying herself as a journalist.

Pictures circulating online suggested she was wearing a gas mask to protect against tear gas and pepper spray. Ordinary face masks were banned this month under a resurrected colonial-era emergency law.

Hong Kong Free Press, an online news service, called for the release of a freelance photographer arrested on Oct. 27 after she had asked to see a police officer’s warrant card.

The city’s Foreign Correspondents’ Club condemned the arrest in a statement calling for an independent investigation into “police violence against journalists and interference with the media’s right to cover the protests under Hong Kong law.”

The police, who denied using excessive force, told reporters they had repeatedly asked journalists to keep their distance so the police could do their job.

They said an officer had removed a journalist’s mask, which had seemed an “undesirable” incident, but they said they didn’t know the full context. They said the Hong Kong Free Press reporter was arrested for failing to show ID and being uncooperative and obstructing police.

Protesters are angry about what they view as increasing interference by Beijing in Hong Kong, which returned to Chinese rule in 1997 under a “one country, two systems” formula intended to guarantee freedoms not seen on the mainland.

Tourists numbers have plummeted, with visitor numbers down nearly 50 percent in October, a decline Chan called an “emergency.”

Retail operators, from prime shopping malls to family-run businesses, have been forced to close for multiple days over the past few months.

While authorities have announced measures to support local small and medium seized enterprises, Chan said the measures could only “slightly reduce the pressure.”

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Agencies
July 29,2020

If everything goes as Russia’s expectation, it will be world’s first country to approve a coronavirus vaccine for widespread in the second week of August despite safety and efficacy concerns, according to a report. The adenoviral vector-based vaccine developed by Russian military and government researchers is currently in phase 2 trials.

According to a report from CNN, Russian officials are hoping to get approval for the COVID-19 vaccine developed by the Moscow-based Gamaleya Institute on Agust 10 or even before that. The officials told the outlet that the vaccine will be approved for public use with frontline healthcare workers receiving it first.

“It’s a Sputnik moment,” said Kirill Dmitriev, head of Russia’s sovereign wealth fund, which is financing Russian vaccine research, referring to the successful 1957 launch of the world’s first satellite by the Soviet Union, according to CNN.

“Americans were surprised when they heard Sputnik’s beeping. It’s the same with this vaccine. Russia will have got there first,” he was quoted as saying.

However, Russia is yet to release the scientific data on its coronavirus vaccine trials, hence, questions remain about the safety and efficacy of the vaccine, said the report. The vaccine is in the second phase of testing with developers planning to launch the phase 3 trials sometime after August 3.

Earlier, Interfax reported, citing Health Minister Mikhail Murashko, that the vaccine will be widely used in parallel with phase 3 trials. He said the country plans to vaccinate medics who are at high-risk for COVID-19 next month before clinical trials are completed.

Murashko added that individuals at higher risk of getting infected with the coronavirus such as older people or those with health conditions will also be prioritised for the vaccine, although he did not estimate or reveal when that would happen. The minister added 800 people will be recruited for the phase 3 trials.

Meanwhile, health officials were more cautious considering the fact that human testing of the vaccine is incomplete, and the state registration is expected to begin after August 3, reported The Moscow Times.

On Monday, Moderna and Pfizer announced the commencement of the final phase 3 trials of their candidate vaccines against the SARS-CoV-2 virus, which has so far claimed at least 654,477 lives and infected 16,514,500 people worldwide. 

Researchers will recruit up to 30,000 volunteers in separate trials both backed by the US government. India's first indigenous coronavirus vaccine, COVAXIN, is undergoing phase 1 human clinical trials across the country. More than 150 COVID-19 vaccines are being developed all over the world with at least six candidates already in late-stage clinical trials.

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News Network
March 28,2020

Washington, Mar 27: The United States has seen a record 18,000 new confirmed coronavirus cases and 345 deaths over the past 24 hours, according to a Johns Hopkins University tracker.

There are now 97,028 declared virus cases in the country and there have been 1,475 deaths, Johns Hopkins said.

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News Network
July 14,2020

Washington, Jul 14: Florida on Sunday reported a record 15,300 new coronavirus cases, the most by any state in a single day even as the coronavirus cases in the country have surged to 3,363,056.

The Washington Post reported that the huge number was result of both increased testing and widespread community transmission. The numbers shattered previous highs of 11,694 reported by California last week and 11,571 reported by New York on April 15.

Natalie E. Dean, an assistant professor of biostatistics at the University of Florida wrote that with Florida largely open for business, he doesn't expect this surge to slow.

Nationally, the conversation over reopening has become increasingly fraught amid the newly soaring case numbers, with much of the debate centering on whether schools should open their doors in the fall, reported the Post.

The Health workers in California and Texas too are facing an influx of COVID-19 patients where officials reported seven day averages for new cases - 8,664 and 9060 respectively.

According to the report, Florida has reported nearly 70,000 cases in last week alone, the most of any state.

Even though the COVID-19 cases are surging, Florida Gov. Ron DeSantis has stuck to an aggressive reopening plan with state officials recently ordering schools to reopen five days a week in the new academic year.

The state is also set to hold the Republican National Convention next month in Jacksonville's VyStar Veterans Memorial Arena, an indoor facility that seats about 15,000, reported Washington Post.

Seven-day averages for new cases -- considered a more reliable indicator of the virus's impact than single-day totals -- hit new highs in Alabama, Florida, Mississippi, Montana, North Carolina, Oklahoma and Puerto Rico.

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