Tag: COVID19
Written by Gabriel HerveyMarch 5, 2020
COVID-19 hit to airlines could exceed US$100 billion
News Business Article
LONDON: The coronavirus epidemic could cost passenger airlines up to US$113 billion in lost revenue this year, an industry body warned on Thursday (Mar 5), more than three times a projection it made just two weeks ago as the virus continues to spread around the world. The warning from the International Air Transport Association (IATA)
Written by Gabriel HerveyMarch 5, 2020
New COVID-19 test kits used to screen swab samples collected at Singapore checkpoints
News Business Article
SINGAPORE: Newly developed COVID-19 test kits will be used to test swab samples collected Singapore’s checkpoints from Thursday (Mar 5), promising results within three hours. A collaboration between the Home Team Science & Technology (HTX) and Verdus Laboratories, the HTX COVID-19 test kit has an accuracy of more than 99 per cent and is able
Written by Gabriel HerveyMarch 5, 2020
Taiwan says China forced Malaysian state to ban Taiwanese entry on COVID-19 fears
News Business Article
TAIPEI: Taiwan’s foreign minister said on Thursday (Mar 5) that China had forced the Malaysian state of Sarawak to reinstate a ban on travellers from the island as part of coronavirus control steps, saying Beijing was taking “joy” in the measures. Taiwan says the World Health Organization’s (WHO) inclusion of the island as part of
Written by Gabriel HerveyMarch 5, 2020
Singapore must expect ‘significantly higher numbers’ of new COVID-19 cases in time: Gan Kim Yong
News Business Article
SINGAPORE: Singapore “must expect to see significantly higher numbers” of new COVID-19 cases in time to come, said Health Minister Gan Kim Yong on Thursday (Mar 5). “Globally, the number of cases outside mainland China continues to grow at an alarming rate across continents and regions. This is worrying as they pose a high risk
Written by Gabriel HerveyMarch 5, 2020
Wuhan doctor recounts fears and hope at COVID-19 frontline
News Business Article
BEIJING: One month after makeshift hospitals opened to chaos and confusion at the epicentre of China’s coronavirus epidemic, frontline doctor Ma Yonggang is finally seeing more empty beds as fewer patients arrive. When 43-year-old Ma was first summoned to a sports stadium converted into a medical facility on Feb 4, it was a virtual construction site
Written by Gabriel HerveyMarch 5, 2020
Thousands held on cruise ship off California after passengers, crew develop COVID-19 symptoms
News Business Article
LOS ANGELES: Thousands were stranded on a cruise ship off the California coast Wednesday (Mar 4) over fears of the new coronavirus after passengers and crew members on board developed symptoms. Officials delayed the return of the Grand Princess to San Francisco on Wednesday night from Hawaii in order to carry out testing on board for
Written by Gabriel HerveyMarch 5, 2020
Transport projects like Terminal 5, new MRT stations could be delayed if COVID-19 drags on: Khaw Boon Wan
News Business Article
SINGAPORE: A number of transport infrastructure projects in Singapore could be delayed if the COVID-19 outbreak drags on, Transport Minister Khaw Boon Wan said in Parliament on Thursday (Mar 5). “For now, the delay to project timelines is still manageable,” he said during the Committee of Supply debate. “But if the outbreak drags on, it
Written by Gabriel HerveyMarch 5, 2020
COVID-19: SIA cabin crew on leave of absence after passenger tests positive
News Business Article
SINGAPORE: Singapore Airlines (SIA) has instructed the crew members who worked on a Milan-Singapore flight last week to go on a leave of absence, after a passenger tested postive for the coronavirus. The passenger had travelled from Milan to Singapore on flight SQ355 on Feb 24, SIA said in response to queries from CNA on
Written by Gabriel HerveyMarch 5, 2020
‘If this goes on, I might quit’: Mall tenants want rental rebates soon to counter COVID-19 hit
News Business Article
SINGAPORE: Since the outbreak of COVID-19 in Singapore, business has slowed so much for one retailer at Bugis Junction that there were days when only one sale was made. The slowdown began after Chinese New Year as Singapore started reporting confirmed cases of the novel coronavirus. As the number of infections rose and authorities moved
Written by Gabriel HerveyMarch 5, 2020
290 million students out of school as global COVID-19 battle intensifies
News Business Article
ROME: Almost 300 million students worldwide faced weeks at home on Thursday (Mar 5) with Italy the latest country to shut schools over the deadly coronavirus, as the IMF urged an all-out, global offensive against the epidemic. More than 95,000 people have been infected and over 3,200 have died worldwide from the virus, which has now
Written by Gabriel HerveyMarch 5, 2020
China’s COVID-19 death toll surpasses 3,000
News Business Article
BEIJING: China on Thursday (Mar 5) reported 31 more deaths from COVID-19, taking its overall toll past 3,000. Hubei, the province at the epicentre of the outbreak, accounted for all of the new deaths. In Wuhan, 23 people died. Advertisement Advertisement The death toll from the outbreak in mainland China reached 3,012 as of the end of Wednesday,
Written by Gabriel HerveyMarch 5, 2020
South Korea reports 438 new COVID-19 cases, 3 more deaths
News Business Article
SEOUL: South Korea reported 438 new coronavirus infections on Thursday (Mar 5), bringing the country’s total to 5,766, according to local media. The Korea Centers for Disease and Control and Prevention also said three more deaths from the disease were reported, bringing the total to 35. Advertisement Advertisement READ: Thousands wait for hospital beds in South Korea
Written by Gabriel HerveyMarch 5, 2020
Saudi Arabia suspends ‘umrah’ pilgrimage over COVID-19 fears
News Business Article
RIYADH: Saudi Arabia on Wednesday (Mar 4) suspended the year-round “umrah” pilgrimage over fears of the new coronavirus spreading to Islam’s holiest cities, an unprecedented move that raises fresh uncertainty over the annual haj. The kingdom halted the pilgrimage for its own citizens and residents, on top of restrictions announced last week on foreign pilgrims
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Commentary: COVID-19 just one of a few ‘white swans’ that could trigger next global economic crisis
NEW YORK: In my 2010 book, Crisis Economics, I defined financial crises not as the “black swan” events that Nassim Nicholas Taleb described in his eponymous bestseller, but as “white swans”. According to Taleb, black swans are events that emerge unpredictably, like a tornado, from a fat-tailed statistical distribution. Advertisement Advertisement But I argued that