Swiss are most competitive nation, India 59th: World Economic Forum

September 6, 2012

Swiss



Geneva, September 6: Switzerland ranked as the world's most competitive economy for the fourth year running, while the United States continued a four-year slide down the table, the World Economic Forum (WEF) said in its annual survey on Wednesday.


The study by the WEF, best known for running the annual meeting of world business leaders at the ski resort of Davos, ranks 144 countries by examining 113 indicators culled from official data sources and a poll of 15,000 executives who opine on the country where they do business.


Switzerland pipped Singapore to the top spot thanks to strong scores in areas such as innovation, labour market efficiency and effective public institutions.


The United States fell from fifth spot to seventh because of political and economic problems that detracted from its status as a global powerhouse of innovation, the study said.

"We see this development as a result of the growing macroeconomic imbalances in the country but also due to the political deadlock that has been augmenting the problem of macroeconomic imbalances," said Margareta Drzeniek, a senior economist at the Geneva-based organisation.

"There does seem to be an inability to take decisions on the political side."

Rather than a big shake-up in the rankings, the 2012 survey found deepening divides, she said.

"One of the reasons those persistent divides are not being closed - and the prime example here is Europe, or the United States as well - is because of the political deadlock that we've observed, that has prevented those countries from taking a longer term approach to improving competitiveness with a view to stabilising growth in the future."

"This political deadlock is jeopardising the future prosperity of those countries because it may lead to a reduction of productivity and a loss of competitiveness and reduced growth in the future."
The lowest ranked EU country was Greece, at 96th. But it was rock bottom - 144th out of 144 - for its macroeconomic environment.

Qatar moved up three places to 11th but may need to reduce its vulnerability to commodity price fluctuations if it is going to break into a top 10 dominated by northern European countries, the report said.

Four of the five BRICS nations fell in the rankings, with only Brazil climbing, up five places from last year to 48th.

China still led the group. Its 29th place ranking was down from 26th in 2011 but still 30 places ahead of India, which has lost 10 places since peaking at 49 in 2009.

"(China's) various barriers to entry appear to be more prevalent and more important than in previous years," the report said. It added that China benefits from a macroeconomic situation ranked 11th globally, despite a prolonged episode of high inflation.

Russia was 67th, down one place from 2011, with a sharp improvement in the macroeconomic environment offset by weak public institutions, which were ranked 11th worst.

On several scores Russia was ranked among the 10 lowest achievers globally, including its low rates of technological adoption, lack of trust in its financial system, weak level of competition and inefficient markets for goods.



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News Network
March 4,2020

Tokyo, Mar 4: Takeda Pharmaceutical Co said on Wednesday it was developing a drug to treat COVID-19, the flu-like illness that has struck more than 90,000 people worldwide and killed over 3,000.

The Japanese drugmaker is working on a plasma-derived therapy to treat high-risk individuals infected with the new coronavirus and will share its plans with members of the U.S. Congress on Wednesday, it said in a statement.

Takeda is also studying whether its currently marketed and pipeline products may be effective treatments for infected patients.

"We will do all that we can to address the novel coronavirus threat...(and) are hopeful that we can expand the treatment options," Rajeev Venkayya, president of Takeda's vaccine business, said in the statement.

Takeda said it was in talks with various health and regulatory agencies and healthcare partners in the United States, Asia and Europe to move forward its research into the drug.

Its research requires access to the blood of people who have recovered from the respiratory disease or who have been vaccinated, once a vaccine is developed, Takeda said.

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Agencies
March 24,2020

Beijing, Mar 24:  China reported 78 new confirmed cases, including 74 imported infections, while the death toll from the novel coronavirus increased to 3,277 after seven more fatalities were confirmed from the COVID-19, health officials said on Tuesday.

The overall confirmed cases on the Chinese mainland have reached 81,171 by the end of Monday. This included 3,277 people who died of the disease, 4,735 patients who were still being treated and 73,159 patients discharged after recovery, the National Health Commission (NHC) said on Tuesday.

The NHC said, 78 new confirmed COVID-19 cases were reported on the Chinese mainland on Monday, of which 74 were imported from abroad taking the number of overseas cases to 427.

Also on Monday, seven deaths and 35 new suspected cases were reported on the mainland with all the deaths in Hubei Province.

The total COVID-19 cases in Beijing climbed to 522 with eight deaths prompting local governments of Beijing as well as Shanghai to announce that all overseas arrivals will be subjected to nucleic acid tests to ensure proper detection.

Of the 74 newly imported cases, 31 were reported in Beijing, 14 in Guangdong, nine in Shanghai, five in Fujian, four in Tianjin, three in Jiangsu, two in Zhejiang and Sichuan respectively, and one in Shanxi, Liaoning, Shandong and Chongqing respectively, the NHC said.

Beijing is already diverting all international flights to different cities where the passengers will be quarantined for 14 days before arriving in the city.

The NHC said 132 people were still suspected of being infected with the virus.

Coronavirus epicentre Wuhan has reported one confirmed case after a gap of five days prompting officials to begin to ease restrictions.

Wuhan also reported seven new deaths, bringing the total number of deaths in the city and Hubei province for which Wuhan is the capital to 3,160.

The province also saw 444 patients discharged from hospital after recovery on Monday. Among the 4,200 patients being treated in hospital, 1,203 were still in severe condition and another 336 in critical condition, the local health commission said.

By the end of Monday, 356 confirmed cases, including four deaths have been reported in Hong Kong, which has restricted the entry of foreigners into the city. Also a total of 25 confirmed cases were reported in Macao and 195 in Taiwan including two deaths, state-run Xinhua news agency reporrted.

After days of decline in coronavirus cases, China on Monday said that COVID-19 has effectively been "stemmed" in the country and it started easing severe restrictions imposed on Wuhan's 11 million people who were under lockdown since January 23.

The authorities began relaxing restrictions in Wuhan as it reported no new case for the fifth consecutive day on Monday.

Significantly, the Central Leading Group (CLP), headed by Premier Li Keqiang which is coordinating efforts to contain the virus since January 23, said the virus has been curtailed in the country as well as in Wuhan.

"The meeting noted that the spread of the virus nationwide, particularly in the epicentre of Wuhan, has been effectively stemmed," an official statement said on Monday.

The meeting, however, warned that the risks for sporadic infections and localised outbreaks have not gone away. With the pandemic rampaging across the world, the situation remains complex and challenging.

"Wuhan city and Hubei province should stay focused on medical treatment and community-level containment as the two key priorities. They should continue to treat the severe cases, promptly admit new cases, and advance epidemiological investigations," the meeting said.

In Wuhan, officials said people are allowed to go back to work while restrictions on the public transport are gradually being eased.

The Hubei province and its capital Wuhan with over 56 million people were under lockdown since January 23. The vicious virus broke out in city, reportedly at a live animal market in December last year and became virulent inflicting thousands of people in the city and province catching the government off guard.

As the country saw a surge in imported infections, the Chinese government announced that all international flights scheduled to arrive in Beijing will be redirected to airports in 12 other Chinese cities from Monday.

International passengers flying to Beijing will instead land at airports in 12 cities including Shanghai, Tianjin, Nanjing and Shenyang as their first points of entry, the Civil Aviation Administration of China (CAAC) said in a statement.

On Monday, China said international travellers should "think twice" about choosing Beijing for flight transfer in view of the restrictions.

Starting from Monday, all international flights scheduled to arrive in Beijing will be redirected to airports in 12 other Chinese cities, Liu Haitao, an official with China's National Immigration Administration said.

Passengers would go through entry procedures and quarantine measures at the designated cities' airports before they continue their flights to Beijing, Liu said, urging travellers to reserve enough time for their next flights to make sure that they do not miss their outbound flights.

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Agencies
May 19,2020

Washington DC, May 19: US President Donald Trump has threatened to permanently halt funding for the World Health Organisation (WHO) if it did not commit to improvements within 30 days, and to reconsider the membership of the United States in the global health body.

On Monday, Trump wrote a letter to WHO Director-General Tedros Ghebreyesus that read, "If WHO doesn't commit to major substantive improvements within the next 30 days, I will make my temporary freeze of US funding to WHO permanent and reconsider our membership in the organisation."

Trump had temporarily suspended US' contribution to the WHO last month, accusing it of promoting China's "disinformation" about the coronavirus outbreak, although WHO officials denied the accusation and Beijing said that it was transparent and open.

"The only way forward for the WHO is if it can actually demonstrate independence from China. My administration has already started discussions with you on how to reform the organisation. But action is needed quickly. 

We do not have time to waste," Trump said in the letter.

"I cannot allow American taxpayer dollars to continue to finance an organisation that, in its present state, is so clearly not serving America's interests," he added.

On Monday, the WHO said that an independent review of the global coronavirus response would begin at the earliest and it received backing from China, where the virus was first discovered.

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