Russia, Iran, Turkey to discuss Syrian conflict

Washington, Feb 28: US intelligence agencies are monitoring the global spread of coronavirus and the ability of governments to respond, sources familiar with the matter said on Thursday, warning that there were concerns about how India would cope with a widespread outbreak.

While there are only a few known cases in India, one source said the country's available countermeasures and the potential for the virus to spread given India's dense population was a focus of serious concern.

US intelligence agencies are also focusing on Iran, where the country's deputy health minister has fallen ill during a worsening outbreak.

US Secretary of State Mike Pompeo said on Tuesday the United States was "deeply concerned" Tehran may have covered up details about the spread of coronavirus. A US government source said Iran's response was considered ineffective because the government only has minimal capabilities to respond to the outbreak.

Another source said US agencies were also concerned about the weak ability of governments in some developing countries to respond to an outbreak.

The US House of Representatives Intelligence Committee has received a briefing on the virus from the spy agencies. "The Committee has received a briefing from the IC (intelligence community) on coronavirus, and continues to receive updates on the outbreak on a daily basis," an official of the House Intelligence Committee told Reuters.

"Addressing the threat has both national security and economic dimensions, requiring a concerted government-wide effort and the IC is playing an important role in monitoring the spread of the outbreak, and the worldwide response," the official added.

A source familiar with the activities of the Senate Intelligence Committee, led by Republican Senator Richard Burr and Democratic Senator Mark Warner, said the panel was receiving daily updates. The role of US intelligence agencies in responding to the coronavirus epidemic at this point principally involves monitoring the spread of the illness around the world and assessing the responses of governments.

They are working closely with health agencies, such as the US Center for Disease Control, in sharing information they collect and targeting further intelligence gathering.

One source said US agencies would use a wide range of intelligence tools, ranging from undercover informants to electronic eavesdropping tools, to track the virus' impact.

Hong Kong, Apr 20: Oil prices collapsed to more than two-decade lows Monday as traders grow concerned that storage facilities are reaching their limits, while equities were mixed, with some support coming from signs that the coronavirus may have peaked in Europe and the United States.

US crude benchmark West Texas Intermediate briefly plunged almost 20 percent to below 15 -- its lowest since 1999 -- as stockpiles continue to build owing to a crash in demand caused by the COVID-19 pandemic.

Analysts said this month's agreement between top producers to slash output by 10 million barrels a day was having little impact on the oil crisis because of lockdowns and travel restrictions that are keeping billions of people at home.

WTI was hit particularly hard as its main US storage facilities in Cushing, Oklahoma, were filling up.

ANZ said "crude oil prices remained under pressure, as projections of weaker demand weigh on sentiment".

"Despite the OPEC+ alliance agreeing to an unprecedented cut in output, the physical market is awash with oil," it said, referring to the Organization of the Petroleum Exporting Countries and non-OPEC partners.

And AxiCorp's Stephen Innes added: "It's a dump at all cost as no one... wants delivery of oil, with Cushing storage facilities filling by the minute.

"It hasn't taken long for the market to recognise that the OPEC+ deal will not, in its present form, be enough to balance oil markets." Stock traders were in slightly more buoyant mood as governments start to consider how and when to ease lockdowns that have crippled the global economy.

Italy, Spain, France and Britain reported drops in daily death tolls and slowing infection rates.

"We are scoring points against the epidemic," said Prime Minister Edouard Philippe, while insisting "we are not out of the health crisis yet".

Meanwhile, in the US, Andrew Cuomo, governor of badly hit New York state, said the disease was "on the descent", though he cautioned it was "no time to get cocky".

Mounting evidence suggests that the lockdowns and social distancing are slowing the spread of the virus.

That has intensified planning in many countries to begin loosening curbs on movement and easing the crushing pressure on national economies.

Adding to the sense of hope was a report indicating promising research on a drug to treat coronavirus.

Hong Kong, Shanghai and Seoul were each up 0.1 percent, while Wellington added 0.4 percent.

However, Tokyo went into the break 0.9 percent lower, while Sydney and Manila dropped one percent apiece. There were also losses in Taipei, Singapore and Jakarta.

"The longer investors have to contemplate future economic issues while they wait for more countries to be on the downward slope of the pandemic curve, the more scope there is of risk assets pricing in a difficult future," Chris Iggo, of AXA Investment Managers UK, said.

Investors are keeping an eye on Washington, where Congress and the White House are working towards a 450 billion economic relief plan for small business to add to the trillions already pledged to support the economy.

Big-name companies including IBM, Netflix and Coca-Cola are due to deliver their earnings reports.

Canadian researchers are developing a DNA vaccine for SARS-CoV-2, the coronavirus that causes COVID-19 and has currently infected nearly 5,00,000 people worldwide and crippled the global economy.

Entos Pharmaceuticals, a health-care biotechnology company headed by a University of Alberta researchers, develop new therapeutic compounds using the company's proprietary drug-delivery platform and has begun manufacturing vaccine candidates against the novel coronavirus.

"Given the urgency of the situation, we can have a lead candidate vaccine within two months. Once we have that it's a race to get it into clinical trials," said John Lewis, CEO of Entos and a Professor at the University of Alberta in Canada.

Lewis said in comparison to a traditional vaccine, DNA-based vaccines hold several advantages.

Nucleic acids are introduced directly into the patient's own cells, causing them to make pieces of the virus--tricking the immune system into mounting a response without the full virus actually being present, the researcher said.

According to the company, the approach is recognised as being easier to move into large-scale manufacturing, offers improved vaccine stability and works without needing an infectious agent.

In the current absence of a vaccine for COVID-19, several companies around the world are mounting efforts to begin similar work.

The first clinical trial using a DNA-based vaccine developed by Moderna Inc.in the US on March 13.

Their approach allows for antibodies to be made in the human trial volunteers against a specific protein on the surface of the coronavirus that lets the virus enter human cells.

The hope is that the antibodies will stop the interaction.

Though this approach is designed to be effective against COVID-19 specifically, Lewis said Entos is taking a different tack.

The company plans to use plasmid DNA to amplify the production of key coronavirus surface and structural proteins with each injection, with an eye to the bigger picture.

"Many of the structural proteins in the virus are pretty well conserved across all the coronaviruses, including SARS and MERS," said Lewis.

"We're hoping that if we express more of the structural proteins that are common to most coronaviruses, we can inhibit the current COVID-19, and also potentially protect against all coronaviruses both past and future," Lewis added.

To move the project forward quickly, the company is seeking financial support from both provincial and federal levels of government.

"We have the opportunity to save a lot of lives, and I think it's really upon us and governments to find solutions for that," Lewis said.