Tag Archives: Southeast Asia

Business group: Virus outbreak may price airways $113B

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The Worldwide Air Transport Affiliation says the virus outbreak that started in China may price airways as a lot as $113 billion in misplaced revenues as a result of collapse of air journey

SINGAPORE —
The Worldwide Air Transport Affiliation says the virus outbreak that started in China may price airways as a lot as $113 billion in misplaced income as a result of collapse of air journey.

Representatives of the airline business group mentioned Thursday after a working assembly in Singapore that the business urgently wants assist from governments in waiving some necessities and charges to alleviate the burden on struggling carriers.

An earlier estimate simply two weeks in the past put the potential price of the downturn in journey at lower than $30 billion.

The group’s estimate displays a situation involving a 19% loss in revenues with intensive unfold of the virus in markets that now have 10 or extra confirmed instances. That displays nations accounting for 80% of airline revenues. The most important losses could be within the Asia-Pacific area, together with China, which has by far probably the most instances of the virus.

“This can be a very severe money circulation shock,” mentioned Brian Pearce, the IATA’s chief economist. “We’re seeing this severe decline in bookings and revenues exterior the Asia-Pacific now that it (the virus) has unfold extra extensively.”

The IATA officers mentioned the consensus of specialists was that air journey stays comparatively protected and that there are not any recognized instances of passengers spreading the virus whereas on plane.

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New virus has infected more than 75,000 people globally

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A viral outbreak that began in China has infected more than 75,000 people globally

A viral outbreak that began in China has infectedmore than 75,000 people globally. The World Health Organization has named the illness COVID-19, referring to its origin late last year and the coronavirus that causes it.

The latest figures reported by each government’s health authority as ofWednesday in Beijing:

— Mainland China:2,004 deaths among 74,185 cases, mostly in the central province of Hubei

— Hong Kong: 58 cases, 1 death

— Macao: 10

— Japan: 614 cases, including 542 from a cruise ship docked in Yokohama, 1 death

— Singapore: 81 cases

— Thailand: 35

—South Korea: 46

— Malaysia: 22

— Taiwan: 22 cases, 1 death

— Vietnam: 16 cases

— Germany: 16

— United States: 15 cases; separately, 1 U.S. citizen died in China

— Australia: 14 cases

— France: 12 cases, 1 death

— United Kingdom: 9 cases

— United Arab Emirates: 9

— Canada: 8

— Philippines: 3 cases, 1 death

— India: 3 cases

— Italy: 3

— Russia: 2

— Spain: 2

— Belgium: 1

— Nepal: 1

— Sri Lanka: 1

— Sweden: 1

— Cambodia: 1

— Finland: 1

— Egypt: 1

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New virus has infected more than 67,000 people globally

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A viral outbreak that began in China has infected more than 67,000 people globally

A viral outbreak that began in China has infected more than 67,000 people globally. The World Health Organization has named the illness COVID-19, referring to its origin late last year and the coronavirus that causes it.

The latest figures reported by each government’s health authority as of Saturday in Beijing:

— Mainland China: 1,523 deaths among 66,492 cases, mostly in the central province of Hubei.

— Hong Kong: 56 cases, 1 death

— Macao: 10

— Japan: 259, including 218 from a cruise ship docked in Yokohama, 1 death

— Singapore: 67

— Thailand: 33

— South Korea: 28

— Malaysia: 19

— Taiwan: 18

— Vietnam: 16

— Germany: 16

— United States: 15. Separately, one U.S. citizen died in China

— Australia: 14

— France: 11

— United Kingdom: 9

— United Arab Emirates: 8

— Canada: 8

— Philippines: 3 cases, including 1 death

— India: 3

— Italy: 3

— Russia: 2

— Spain: 2

— Belgium: 1

— Nepal: 1

— Sri Lanka: 1

— Sweden: 1

— Cambodia: 1

— Finland: 1

— Egypt: 1

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New virus has infected more than 31,400 people globally

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A viral outbreak that began in China has infected more than 31,400 people worldwide

A viral outbreak that began in China has infected more than 31,400 people globally.

The latest figures reported by global health authorities as of Friday in Beijing:

— China: 636 deaths and 31,161 confirmed cases on the mainland. In addition, Hong Kong has had 25 cases, including one death. Macao has had 10 cases. Most of the deaths have been in central Hubei province, where illnesses from the new type of coronavirus were first detected in December.

— Japan: 86

— Singapore: 33

— Thailand: 25

— South Korea: 24

— Australia: 14

— Germany: 13

— United States: 12

— Taiwan: 16

— Malaysia: 15

— Vietnam: 13

— France: 6

— United Arab Emirates: 5

— Canada: 6

— India: 3

— Philippines: 3 cases, including 1 death

— Russia: 2

— Italy: 3

— Britain: 3

— Belgium: 1

— Nepal: 1

— Sri Lanka: 1

— Sweden: 1

— Spain: 1

— Cambodia: 1

— Finland: 1

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Vettel ends 13-month winless run; Ferrari 1-2 at Singapore

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Ferrari driver Sebastian Vettel took benefit of an early pit cease to win the Singapore Grand Prix on Sunday and finish a 13-month winless streak in Method One.

Vettel, who began third on the grid, crossed the end line 2.641 seconds forward of Charles Leclerc — who was sad with group pit technique — in a Ferrari 1-2.

It was four-time F1 champion Vettel’s first win because the 2018 Belgian Grand Prix.

“Clearly the beginning of the season has been tough for us however in latest weeks we began to come back alive,” Vettel stated. “It has been unbelievable to get a lot help from the followers and I attempted to place all of it into the observe as we speak and into the automobile and I am glad it paid off.”

Purple Bull’s Max Verstappen was third whereas championship chief Lewis Hamilton was fourth.

With six races remaining, Hamilton holds a 65-point lead over Mercedes teammate Valtteri Bottas, who completed fifth. The winner of every race will get 25 factors.

It was Vettel’s fifth victory beneath the lights in Singapore and ended a 22-race winless streak.

Leclerc began from pole and held the lead on the 5-kilometer (3.1-mile) Marina Bay avenue circuit till he pitted on the 21st lap of the night time race. When Leclerc rejoined, he was behind Vettel, who had pitted a lap earlier.

Leclerc made it clear over the group radio that he was not blissful that Vettel pitted first and received the lead.

Vettel stated he acquired the decision from his group to pit and it wasn’t his determination.

“It was a really late name,” Vettel stated. “I believed it was a bit early as a result of I wasn’t certain we will make the tires final within the second stint however, yeah, then I simply gave it every little thing within the outlap as a result of I noticed the 2 automobiles in entrance of me not pitting, particularly Lewis. I used to be then very stunned a lap later to come back out forward.”

Leclerc, who received the earlier two races and appeared set for a 3rd straight victory, was diplomatic later when requested in regards to the pit technique of Ferrari.

“It is all the time tough to lose a win like that however in the long run it is a 1-2 for the group,” Leclerc stated. “We arrived right here hoping for a podium and are available again with a 1-2 so are extraordinarily blissful.”

In the course of the race, Leclerc had a distinct take when he was advised to save lots of his engine 15 laps from the end. His response to Ferrari included: “I simply do not suppose it is honest, however I will not do something silly.”

Purple Bull’s Alexander Albon was in sixth place and Lando Norris completed seventh for McLaren, forward of Toro Rosso’s Pierre Gasly.

Renault’s Nico Hulkenberg was ninth and Alfa Romeo’s Antonio Giovinnazi rounded out the High 10.

———

Extra AP sports activities: https://apnews.com/apf-sports and https://twitter.com/AP—Sports activities



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The Newest: Oil costs spike after assault on Saudi facility

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The Newest on oil costs within the wake of the assault on a Saudi Arabian oil plant (all instances native):

10:30 a.m.

An assault on a essential Saudi Arabia oil plant has pushed crude costs sharply increased, although they moderated on expectations that reserves will assist bridge any shortfalls in output.

By late morning in Asia on Monday, U.S. crude oil was up $4.89 per barrel, or 8.9%, to $59.73 per barrel early Monday in digital buying and selling on the New York Mercantile Alternate. Brent crude, the worldwide normal, surged $6.02 per barrel, or 10%, to $66.25 per barrel.

Earlier, U.S. crude jumped greater than 15% and Brent rocketed practically 20%.

An extended, protracted rise in oil costs may damage the worldwide economic system. The assault and potential disruptions to provides is particularly worrying for nations in Asia that rely closely on Saudi oil provides.

———

8:00 a.m.

An assault on a essential Saudi Arabia oil plant has pushed crude costs sharply increased, although its longer-term affect is dependent upon how lengthy manufacturing is disrupted and what this weekend’s assault presages for the long run.

U.S. crude oil jumped $5.61 per barrel, or 10.2%, to $60.46 per barrel early Monday in digital buying and selling on the New York Mercantile Alternate. Brent crude, the worldwide normal, surged $7.84 per barrel, or 13%, to $68.06 per barrel.

Yemen’s Iran-backed Houthi rebels claimed duty for the assault on the Saudi Aramco facility, Saudi Arabia’s largest oil processing plant. It halted manufacturing of 5.7 million barrels of crude a day, greater than half of Saudi Arabia’s world each day exports and greater than 5% of the world’s each day crude oil manufacturing. Most output goes to Asia.

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Philippines confirms African swine fever, culls 7,000 pigs

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Lab tests have confirmed that African swine fever caused the deaths of pig herds in at least seven villages near Manila and a multiagency body will be set up to ensure the highly contagious disease does not spread further, Philippine officials said Monday.

Agriculture Secretary William Dar said 14 of 20 blood samples sent to a British lab tested positive for the disease but further tests were needed to ascertain the virulence of the virus.

Infections in affected villages have been contained in recent weeks, and backyard farms hit by the virus and outlying areas have been placed under quarantine and disinfected to prevent recurrences, Dar and other agriculture officials said.

“What hit us we don’t know among the 35 strains,” Dar said at a news conference, referring to the different viral strains with varying lethality. He appealed to journalists to help the government prevent public alarm that could hurt the local hog industry.

More than 7,400 pigs have been culled in farms in villages in Rizal and Bulacan provinces that were feared to have been hit by the viral infection in recent months. The Department of Agriculture is verifying reports of new infections in other areas, Dar said, but he refused to identify the areas.

Despite confirmation of the infections, officials say authorities are in control of the problem and will further tighten checks, including in airports and seaports, and crack down on smuggling of imported meat to prevent largescale outbreaks. They said pork supplies and prices will remain normal.

“The hog industry is one of the more critical industries in the country. Let us not allow it to be affected in a big way,” Dar said. “Everything that has to be done by government with the help of the private sector is being done.”

Dar and Health Secretary Francisco Duque ate pork dishes with other officials and traders in a joint ceremony to demonstrate that locally sold meat is safe to eat when properly slaughtered and prepared.

The Philippines is the latest country in Asia to be hit by the disease, with hard-hit China and Vietnam culling millions of pigs and scrambling to find a vaccine to contain infections that have ravaged their swine industries.

China is home to half the world’s pig population. In Vietnam alone, the virus has caused the deaths of more than 4 million pigs.

African swine fever is harmless to people but fatal and highly contagious for pigs, with no known cure, causing severe losses in the swine industry. The disease has been reported in China, Vietnam, Mongolia, Cambodia, Laos and North Korea.

Some experts have said the current spread of swine fever is the largest known animal disease outbreak in history.

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China’s Xi promotes building initiative amid debt worries

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Chinese President Xi Jinping promised Friday to set high standards for Beijing’s sweeping infrastructure-building initiative as fellow leaders praised the effort despite worries it is saddling some countries with too much debt.

Xi avoided mentioning debt in a speech at a Belt and Road forum celebrating his signature foreign initiative. But he promised changes in response to complaints about costs, dubious payoffs from the projects and possible environmental damage.

Beijing wants “open, green and clean cooperation” with “zero tolerance for corruption,” Xi said.

Developing countries have welcomed the initiative, launched in 2013, to expand trade by building roads, ports and other facilities from Asia through Africa and the Middle East to Europe. But some governments are struggling to repay Chinese loans, fueling complaints poor countries are being pushed into a “debt trap.”

The United States, Japan, India and Russia have chafed at the expansion of Beijing’s strategic influence with the building of trade and political networks centered on China.

Despite that, Russian President Vladimir Putin on Friday praised the initiative, saying it dovetails with the goals of a Russian-promoted market with four of its neighbors, the Eurasian Economic Union.

Malaysian Prime Minister Mahathir Mohamad, who had suspended plans for a Chinese-built railway and other projects due to their cost, said he was “fully in support.”

Prime Minister Imran Khan of Pakistan, one of China’s closest allies, said Belt and Road has produced “substantial progress” in increasing power supplies and other areas.

The U.N.’s secretary-general, Antonio Guterres, said Belt and Road projects could help turn the balance in mitigating climate change.

Xi’s government is trying to revive the initiative’s momentum after the number of new projects plunged last year. That came after Chinese officials said state-owned banks would step up scrutiny of borrowers and some governments complained projects do too little for their economies and might give Beijing too much political influence.

Other countries including Thailand and Nepal have canceled or scaled back projects while Ethiopia and others have renegotiated debt repayment.

Xi promised changes to forestall corruption and environmental damage, and sought to allay worries Beijing is reaping most of the economic benefits and gaining power at the expense of countries involved.

The Belt and Road is “not an exclusive club” and promotes “common development and prosperity,” Xi said. He said Belt and Road will embrace international standards for project development, purchasing and operations.

China issued “debt sustainability” guidelines Thursday for assessing debt risks to borrowers that the Ministry of Finance said are based on standards of the International Monetary Fund and other international institutions.

Finance Minister Liu Kun said the guidelines, intended to “prevent and solve debt problems,” would classify countries by risk based on productivity, economic growth and other factors.

Other leaders attending the forum included Aung San Suu Kyi, state councilor for Myanmar, Ethiopian Prime Minister Abiy Ahmed and leaders or envoys from Germany, Italy and Greece.

Xi said Beijing wants to encourage cooperation on health, water resources, agriculture and technology. He promised scholarships for students from Belt and Road countries.

Chinese lenders have provided $440 billion in financing, the country’s central bank governor, Yi Gang, said Thursday without giving details on repayments or risks of defaults.

In addition, some 500 billion yuan ($75 billion) has been raised in Chinese bond markets, according to Yi.

The United States, Japan and other wealthy countries also finance construction in a region the Asia Development Bank says needs $26 trillion of investment through 2030 to keep economic growth strong.

In March, Italy became the first member of the Group of Seven major economies to sign an agreement to support Belt and Road.

Belt and Road countries also include many of the poorest and most indebted in Africa and Asia.

About one-quarter of the 115 governments that have signed agreements to support the initiative have foreign debt equal to at least 75% of their annual economic output, according to Moody’s. Mongolia is the most extreme at 240 percent. Egypt, Indonesia and Pakistan all are above 50%.

None is in immediate danger of default, but Belt and Road economies tend to have higher debt than average, weaker financial flows and more vulnerability to economic shocks, said Lillian Li, a Moody’s vice president.

Borrowing “more external funds will be more dangerous to themselves as well as to the lending countries,” Li said in an interview.

There’s a limit to how much Xi’s government might change the initiative because Beijing still wants to increase its influence and generate work for Chinese industries, Tom Rafferty of the Economist Intelligence Unit said in a report ahead of Friday’s forum.

One element to watch will be whether Beijing tries to enhance the appeal of Belt and Road by making it more like the World Bank or other multinational organizations, he said.

“This has the potential to generate further tensions with the U.S.,” Rafferty said.

———

Associated Press writer Christopher Bodeen contributed.

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Americans Taste Exotic Asian Food



When your food fights back! Post to Facebook: http://on.fb.me/1n4Gf3Q Like BuzzFeedVideo on Facebook: http://on.fb.me/1ilcE7k Post to Twitter: http://bit.ly/1n4Gfkm Music: Warner / Chappell…

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