Fears on global medicine shortage grow as coronavirus hit supply chains
The coronavirus outbreak has severely impacted pharmaceutical production, with China's factory closures and India's export restrictions raising concerns about potential worldwide medicine shortages for critical drugs used to treat common conditions.
Asian markets surge as central banks signal support
Asian markets rebounded after the Bank of Japan and U.S. Federal Reserve pledged support during the coronavirus crisis. BOJ Governor Haruhiko Kuroda announced emergency steps to provide market liquidity and stabilize financial movements, while the Fed made an unscheduled commitment to prevent market collapse.
IMF, World bank express readiness to lend amid virus crisis
The IMF and World Bank have developed contingency plans to offer financial assistance to countries struggling with COVID-19's economic impact. IMF spokesman Gerry Rice confirmed the institutions are prepared to lend capital and support countries facing balance of payment challenges during the global health crisis.
India’s travel ban on Singapore threatens tourism
India's recent travel ban on Singapore threatens the country's tourism industry, with potential significant impacts on international visitor numbers. Last year, over 1.4 million Indian tourists visited Singapore, and the new advisory may substantially reduce travel during the upcoming summer season.
Uninfected passengers disembark from virus-hit ship in Japan
Around 500 passengers from the Diamond Princess cruise ship were allowed to leave in Yokohama after testing negative for COVID-19. Transported by buses to train stations, passengers will continue to be processed until February 21, with elderly travelers receiving priority for disembarkation.
India emerged as 5th world’s largest economy with $2.94 trillion GDP
India has emerged as the world's 5th largest economy, driven by economic liberalization, global integration, and a robust service sector that contributes 60% to its economic output. The nation's growth trajectory indicates a promising future in the global economic landscape.
Vietnamese Airlines endure $430 million revenue loss due to coronavirus
Vietnamese airlines are experiencing significant financial strain, losing approximately $430 million in revenue as coronavirus travel bans disrupt operations. With a public health emergency declared and flights to mainland China suspended, the aviation sector confronts unprecedented challenges affecting passenger numbers and international routes.
Taiwan warns of retaliation against Philippines if travel ban continues
Taiwan's Foreign Ministry warns of countermeasures if the Philippines maintains its entry ban, potentially affecting visa-free privileges for Filipinos. The dispute centers on travel restrictions related to the coronavirus outbreak and could impact bilateral relations.
Experts blame China for uncontrolled rise in coronavirus deaths
The coronavirus pandemic continues to escalate, with experts blaming China's ineffective response and political suppression. A prominent Beijing law professor, Xu Zhangrun, condemned the Communist Party's prioritization of politics over public safety, arguing that the government's bureaucratic system has fundamentally failed in managing the crisis.
WHO rejects Chinese researchers’ suggestion to prolong virus incubation period
The World Health Organization (WHO) stands firm on its 14-day quarantine guideline despite a Chinese study suggesting the novel coronavirus could have an incubation period of up to 24 days. WHO's Dr. Michael Ryan emphasized that such long periods might result from "double exposure" and require further scientific evidence.
