Archive for ‘luxury goods firms’

24/01/2020

China shuts part of Great Wall as virus toll hits 26

BEIJING, China (Reuters) – China ramped up measures to contain a virus that has killed 26 people and infected more than 800, suspending public transport in 10 cities, shutting temples over the Lunar New Year and even closing the Forbidden City and part of the Great Wall.

The week-long holiday to welcome the Year of the Rat began on Friday, raising fears the infection rate could accelerate as hundreds of millions of people travel to their homes and abroad in what is usually a festive time of year.

The World Health Organisation (WHO) has declared the new coronavirus an emergency for China but stopped short of declaring the epidemic of international concern.

While most of the cases and all of the deaths have been in China, the virus has been detected in Thailand, Vietnam, Singapore, Japan, South Korea, Taiwan and the United States. It was likely Britain also had cases, a health official said.

The newly identified coronavirus has created alarm because it is too early to know just how dangerous it is and how easily it spreads between people.

Symptoms include fever, difficulty breathing and coughing.

Most of the fatalities have been elderly, many with pre-existing conditions, the WHO said.

Cases are likely to continue to rise in China but it is too soon to evaluate the severity of the virus, a WHO spokesman said on Friday.

As of Thursday, there were 830 confirmed cases and 26 people had died there, China’s National Health Commission said.

In Wuhan, where the outbreak began last month, pharmacies were running out of supplies and hospitals were flooded with nervous resident seeking medical checks.

“There’s so much news, so much data, every 10 minutes there’s an update, it’s frightening, especially for people like us in a severely hit area,” Lily Jin, 30, a resident of the city, told Reuters by phone.

GRAPHIC: The spread of a new coronavirus – here

Reuters Graphic

MORE RESTRICTIONS

While restrictions have already been put in place in cities across the country to curb the outbreak, China will take stricter and more targeted measures, state television reported citing a state council, or cabinet, meeting on Friday, but gave no further details.

“The spread of the virus has not been cut off … Local authorities should take more responsibility and have a stronger sense of urgency,” state broadcaster CCTV said.

Most cases have been in Wuhan, where the virus is believed to have originated in a market that traded illegally in wildlife. Preliminary research suggested it crossed to humans from snakes.

The city of 11 million people, and neighboring Huanggang, a city of about 7 million, were in virtual lockdown.

Nearly all flights at Wuhan’s airport had been canceled, and airports worldwide have stepped up the screening of passengers from China.

Checkpoints blocked the main roads leading out of town, and police checked incoming vehicles for wild animals.

Wuhan was rushing to build a 1,000-bed hospital for the infected by Monday, the official Changjiang Daily reported.

About 10 people got off a high-speed train that pulled into Wuhan on Friday afternoon but nobody got on before it resumed its journey. Although it stopped there, Wuhan had been removed from the train’s schedule.

“What choice do I have? It’s Chinese New Year. We have to see our family,” said a man getting off the train who gave his family name Hu.

CHINA EMERGENCY

The WHO said on Thursday it was a “bit too early” to designate the outbreak a public health emergency of international concern, which would require countries to step up their response.

Some experts believe the virus is not as dangerous as the one that caused the 2002-03 outbreak of Severe Acute Respiratory Syndrome, which also began in China and killed nearly 800 people, or the one that caused Middle East Respiratory Syndrome, which has killed more than 700 people since 2012.

There is no known vaccine or particular treatment.

“There is some work being done and there are some trials now for MERS (vaccines). And we may look at some point whether those treatments and vaccines would have some effect on this novel coronavirus,” WHO spokesman Tarik Jasarevic said on Friday.

Gilead Sciences Inc said it was assessing whether its experimental Ebola treatment could be used. Meanwhile, three research teams were starting work on vaccines, the Coalition for Epidemic Preparedness Innovations said.

In the meantime, Chinese authorities have imposed restrictions on movement and gatherings to try to stem the spread. It has advised people to avoid crowds and 10 cities in the central province of Hubei, where Wuhan is located, have suspended some transport, the Hubei Daily reported.

Some sections of the Great Wall near Beijing will be closed from Saturday, state media said.

Some temples have also closed, including Beijing’s Lama Temple where people make offerings for the new year, have also been closed as has the Forbidden City, the capital’s most famous tourist attraction.

Shanghai Disneyland will close from Saturday. The theme park has a 100,000 daily capacity and sold out during last year’s Lunar New Year holiday.

The virus is expected to dent China’s growth after months of economic worries over trade tensions with the United States, unnerving foreign companies doing business there.

Shares in luxury goods firms have suffered from the anticipated drop in demand from China, and on Friday French spirits group Remy Cointreau said it was “clearly concerned” about the potential impact.

Source: Reuters

21/01/2020

China virus fears grow as human transmission and fourth death confirmed

BEIJING (Reuters) – With millions of Asians travelling on Tuesday for the Lunar New Year holiday, authorities in China confirmed that a new virus could be spread through human contact, reporting 15 medical staff had been infected and a fourth person had died.

The chilling update on the coronavirus outbreak that began in the central city of Wuhan sent shivers through financial markets, as the World Health Organisation called a meeting for Wednesday to consider declaring an international health emergency.

By the end of Monday the number of confirmed cases in China had climbed to 291, the National Health Commission said. Some 270 were in Hubei province. Wuhan, a city of 11 million people is the provincial capital.

The outbreak was also spreading to other cities, with 15 cases in southern province of Guangdong, five in the capital Beijing and two in Shanghai.

“Information about newly reported infections suggest there may now be sustained human to human transmission,” WHO Regional Director for the Western Pacific Takeshi Kasai said in an email statement.

The scare brought back bad memories of Severe Acute Respiratory Syndrome (SARS), another coronavirus that broke out in China in 2002/2003, resulting in the death of nearly 800 people in global pandemic.

Health authorities around the world have begun to step up screening of travellers arriving from China. Two cases have already been identified in Thailand, one in Japan and one in South Korea, while the Philippines reported on Tuesday its first suspected case.

Wuhan Municipal Health Commission confirmed a fourth fatality on Tuesday, disclosing that an 89-year-old man who had underlying health issues, including heart disease, died on Jan. 19.

Chinese authorities also confirmed for the first time that the virus could spread through human contact and said 15 medical staff had been infected.

The mounting anxiety was transmitted to regional markets. China’s onshore yuan CNY= fell 0.6%, its biggest daily drop since Aug. 26, 2019, while airline and travel stocks fell across the region.

European shares also slipped on mounting concerns about the impact of the outbreak, with luxury goods firms particularly hard-hit on worries about weaker demand from Chinese consumers.

The virus can cause pneumonia, with symptoms including fever and difficulty in breathing. As those symptoms are similar to many other respiratory diseases, extra screening is needed.

AIRPORT SCREENING

The origin of the virus has yet to be identified, but the primary source is most likely animal, according to WHO. Chinese officials have linked the outbreak to a seafood market in Wuhan.

“The outbreak of a SARS-like coronavirus in Wuhan is developing into a major potential economic risk to the Asia-Pacific region now that there is medical evidence of human-to-human transmission,” said Rajiv Biswas, Asia Pacific Chief Economist for IHS Markit, in an email statement.

So far, the WHO has not recommended trade or travel restrictions but such measures could be discussed at Wednesday’s emergency meeting.

China’s National Health Commission will also give an update on the outbreak at a press briefing at 10 a.m. (0200 GMT) on Wednesday.

Foreign ministry spokesman Geng Shuang said China will attend the WHO meeting and share relevant information.

“China is willing to deepen its global cooperation and work with the international community to work together to deal with the epidemic,” Geng told reporters at a regular daily briefing.

Airport authorities in the United States as well as most Asian nations also are screening passengers from Wuhan.

Australia on Tuesday said it would screen passengers on flights from Wuhan, while Singapore announced it would quarantine individuals with pneumonia and a history of travel to Wuhan within 14 days prior to the onset of symptoms.

QUEUES FOR MASKS

Wuhan officials have been using infrared thermometers to screen passengers at airports, railway stations and other passenger terminals since Jan. 14.

Zhong Nanshan, head of the National Health Commission’s team of experts investigating the outbreak, said in footage shown by state television on Monday there was no danger of a repeat of the SARS epidemic so long as precautions were taken.

Images of long lines of people queuing to buy face masks were circulating widely on Chinese social media, where the outbreak was one of the top trending topics.

Some online vendors were limiting sales of masks and hand sanitizers as demand surged.

And Shanghai’s market regulator warned on Tuesday that it will punish speculators who hoard masks and other products used for preventing diseases, according to the Shanghai Observer – a web publication backed by a Communist Party newspaper.

Trip.com, China’s top online travel booking platform, said it would refund customers who cancel bookings in Wuhan this month, or whose travel plans are disrupted by quarantines or other regulatory efforts to prevent the spread of the virus.

Source: Reuters

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