Tag: crisis
Written by Gabriel HerveyMarch 25, 2020
Australia warns of impending health system crisis amid surge in coronavirus cases
News Business Article
SYDNEY: Australia is grappling with an accelerating number of coronavirus infections that political leaders warned on Wednesday (Mar 25) could start overwhelming intensive care units, as case numbers across the country surged past 2,250. Victorian Premier Daniel Andrews said on Wednesday that if the same long queues appearing outside offices of the main welfare agency,
Written by Gabriel HerveyMarch 22, 2020
Indonesia stands at the crossroads of a waste crisis and plastics problem
News Business Article
JAKARTA: Indonesia is one of the biggest contributors to plastic pollution in the ocean. It became a dumping ground for the world’s plastic waste after China’s ban on trash imports. And now, a new crisis is brewing in the country. Its landfills are running out of space, even with only 60 to 70 per cent
Written by Gabriel HerveyMarch 19, 2020
Internet under strain from streaming services during COVID-19 crisis: European Commission
News Business Article
BRUSSELS: EU Industry Chief Thierry Breton has called on video streaming platforms such as Netflix and Alphabet unit YouTube to take measures to prevent Internet gridlock caused by people teleworking and streaming at home due to the coronavirus outbreak. The European Commission said abnormal traffic distribution risks straining the Internet infrastructure at a time when it
Written by Gabriel HerveyMarch 18, 2020
Need for ‘global effort’ to tackle growing economic crisis brought on by COVID-19 outbreak: Lawrence Wong
News Business Article
SINGAPORE: A “global effort” is needed to tackle the growing economic crisis brought on by the COVID-19 outbreak, in addition to coordinating public health measures, said Minister for National Development Lawrence Wong on Tuesday (Mar 17). Noting that countries around the world have been “realising the seriousness of the situation” and more are actively pursuing containment
Written by Gabriel HerveyMarch 17, 2020
Italy rushes to promote new doctors to relieve COVID-19 crisis
News Business Article
ROME: Italy will rush 10,000 student doctors into service, scrapping their final exams, in an effort to help the struggling health service cope with the coronavirus onslaught. Around 2,158 people have died of the disease in Italy since the outbreak came to light on Feb 21, while the total number of confirmed cases has surged to 27,980,
Written by Gabriel HerveyMarch 17, 2020
Commentary: COVID-19, the biggest crisis ever for Singapore’s aviation industry and Singapore Airlines
News Business Article
SINGAPORE: International travel is grinding to a virtual halt as the COVID-19 outbreak prompts a fast-growing list of countries to impose travel restrictions. Most international flights could be suspended for at least several weeks, creating an unprecedented crisis for the global airline industry. Advertisement Advertisement Asia’s airline industry has already been dealing with the COVID-19
Written by Gabriel HerveyMarch 16, 2020
Italy hit by 368 new coronavirus deaths, hospitals in crisis
News Business Article
ROME: Italy on Sunday (Mar 15) reported a one-day record death toll and leaders warned of a bed and artificial respirator shortage in the European epicentre of the coronavirus pandemic. Official data showed the number of fatalities shooting up by 368 to 1,809 – more than half of all the cases recorded outside China. Advertisement Advertisement
Written by Gabriel HerveyMarch 16, 2020
Biden and Sanders criticise Trump on COVID-19, tout their own crisis leadership
News Business Article
WASHINGTON: Joe Biden and Bernie Sanders blasted President Donald Trump’s handling of the coronavirus outbreak during a Democratic debate on Sunday (Mar 15), and touted their own approaches to dealing with a widening crisis that has upended the daily life of Americans. In their first one-on-one debate, the two Democratic contenders to face Trump in
Written by Gabriel HerveyMarch 14, 2020
PSP ‘strongly’ urges Government not to hold General Election amid COVID-19 crisis: Tan Cheng Bock
News Business Article
SINGAPORE: Progress Singapore Party (PSP) chief Tan Cheng Bock has joined other opposition leaders in pressing for the next General Election not to be held until after the COVID-19 outbreak. “We have a COVID-19 pandemic crisis now. Is it wise to hold a General Election in the midst of this COVID-19 pandemic?” he said in a
Written by Gabriel HerveyMarch 13, 2020
US in crisis mode as COVID-19 cases soar, travel restrictions loom
News Business Article
WASHINGTON: The United States went into crisis mode on Thursday (Mar 12) to contain a coronavirus outbreak that has played havoc with businesses, shuttered schools and universities and severely disrupted the sports and entertainment world. Fears of a recession grew as US cases of the virus that causes the sometimes fatal COVID-19 respiratory illness rose and
Written by Gabriel HerveyMarch 6, 2020
COVID-19 crisis threatens to silence Japan’s tourist boom
News Business Article
TOKYO: The restaurants at the Exitmelsa shopping centre in Tokyo’s upscale Ginza district are usually packed with Chinese tourists. But on a recent weekday, many lunchtime tables were empty, a sign of the toll that the coronavirus is taking on tourism. For Japanese who have grown dependent on Chinese tourists for business, like waiter Kiyotake
Written by Gabriel HerveyMarch 5, 2020
Commentary: COVID-19 just one of a few ‘white swans’ that could trigger next global economic crisis
News Business Article
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
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Commentary: COVID-19 outbreak has become an existential crisis for the cruise industry
LONDON: Carnival is an oddity. The London listing of the Miami-based cruise line operator is a legacy of its 2003 hostile takeover of P&O Princess Cruises, which it won on a pledge to be dual-listed. The stock also stands out as the FTSE 100’s biggest faller in the year to date, down more than 60