Coronavirus Updates: 8 Indians aboard cruise ship in Japan infected with coronavirus, says MEA
MEA on Thursday said that in all 138 Indians including 132 crew members and six passengers are on-board the cruise ship -- Diamond Princess, quarantined off the coast of Japan, and eight of them are infected with the coronavirus.
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Two suspected coronavirus cases isolated in Leh
There are 132 crew members and six passengers, all Indians, who were on-board the cruise ship -- Diamond Princess. This was quarantined off the coast of Japan. As per the latest info, there are 8 Indian nationals are infected with the coronavirus. They are being treated at a local hospital.
- MEA spokesperson Raveesh Kumar
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Two former passengers of Japan virus cruise ship die
Two elderly former passengers from the coronavirus-stricken Diamond Princess died on Thursday, Japanese authorities said, as fears mounted for those who have left the ship after testing negative for the virus.
Another Indian aboard the quarantined cruise ship off Japan was tested positive for the novel coronavirus and shifted to hospital, taking the number of Indian nationals infected with the virus on the vessel to eight.
A release issued by the CMAI on Thursday said that the prevailing situation in China along with the uncertainty of production commencing is posing a major issue for Indian manufacturers who are dependent on supply of raw materials from China.
Wuhan Institute of Virology said "internet rumours" had "received close attention from all walks of life" and "caused great harm to our research staff on the front line of scientific research".
Six Chinese screened in Shimla, no symptoms
Six Chinese nationals who were screened for the novel coronavirus (COVID-19) in the Himachal Pradesh capital, showed no symptoms of the disease, officials said on Thursday. Health authorities here examined them and found their tests normal, said Deputy Commissioner Amit Kashyap. (IANS)
South Korea's latest case
Medical workers wearing protective gear move a patient suspected of contracting the coronavirus from an ambulance to the Kyungpook National University Hospital in Daegu, South Korea. (Credits: AP)
A woman medico, who was India's first novel coronavirus patient being treated at the Government Medical College hospital here was discharged on Thursday, official sources said.
China and the Association of Southeast Asian Nations (ASEAN) kicked off a Special Foreign Ministers' Meeting on Coronavirus on Thursday to discuss coordinating efforts in fighting against the COVID-19 outbreak.
Australia extends ban on arrivals from China to 4th week
Australia will extend a ban on arrivals from mainland China into a fourth week to contain the risk of exposure to the coronavirus, Prime Minister Scott Morrison said on Thursday. (Reuters)
The model can also help scientists develop new proteins to bind to different parts of the spike and prevent it from functioning, to treat those already infected. These are known as antivirals.
South Korean city urges 2.5M people to stay home over virus
The mayor of the South Korean city of Daegu urged its 2.5 million people on Thursday to refrain from going outside as cases of a new virus spike. Mayor Kwon Young-jin made the request in a televised news conference after the southeastern city and its nearby towns reported 35 additional cases of infection with the new coronavirus on Thursday. (AP)
Two more Russians on cruise ship off Japan test positive
Another two Russian nationals aboard a quarantined cruise ship docked near Tokyo have been diagnosed with coronavirus, Russia's embassy in Japan said on Thursday. (Reuters)
The outbreak is threatening to put a dent in the global economy, with China paralysed by vast quarantine measures and major firms such as iPhone maker Apple and mining giant BHP warning it could damage bottom lines.
China's National Health Commission (NHC) said the new confirmed cases declined to 394, registering the biggest drop since December when the first case was reported in Wuhan city in the central Hubei Province.
Fecal transmission could be behind virus’s rapid spread
According to Chinese researchers, the new virus is shed in the feces of the infected people, which could explain why its spread so fast. The discovery of live virus particles in stool specimen indicates a fecal-oral route for the coronavirus. (Bloomberg)
The Japanese yen traded near a nine-month low versus the dollarNSE 4.65 % on Thursday as risk appetite improved on expectations that China will continue to take steps to offset the economic impact of the coronavirus outbreak.
Asian stocks edged up on Thursday, supported by a fall in coronavirus cases and expectations of more Chinese stimulus to offset the economic impact of the epidemic, while the Japanese yen nursed heavy losses after suffering its steepest drop in six months.
Oil prices rose nearly 1 per cent on Thursday, extending big gains from a day earlier, as the market worried about crude supply disruptions and demand concerns were cushioned after a sharp drop in new coronavirus cases at the epicentre of the outbreak
IMF sees Global Economic rebound despite virus threat
According to the International Monetary Fund, the worldwide economic growth is expected to moderately strengthen this year even though the virus is one of the main risks that could derail that outlook. (Bloomberg)
The financial services industry in Asia’s biggest hubs was facing economic headwinds even before the coronavirus outbreak because of U.S.-China trade tension, which was affecting recruiting at some firms, and Hong Kong also had to grapple with its months-long protests. The already frayed situation has been further worsened by the viral outbreak.
Qantas Airways slashes capacity, freezes hiring over outbreak
The airways is cutting down on the capacity on international flights in Asia by 15%, and stopped recruitment as the virus has driven down travel demand. This reduction applies to flights in mainland China, Hong Kong, and Singapore. The freeze will be in affect till May. (Bloomberg)
South Korea's virus cases see a major hike
The confirmed cases in South Korea seem to have doubled in almost just a day to 82. The cases seem to be tied to a single church, where the members may have been infected by a single person. (Bloomberg)
Indonesia to evacuate 74 people from coronavirus-affected ship off Japan
Indonesia is "committed" to evacuating 74 of its nationals from the Diamond Princess cruise off the Japanese port city of Yokohama that has been affected by a coronavirus outbreak, a senior minister said on Thursday. (Reuters)
The National Health Commission said that more than 74,500 people have now been infected nationwide by the virus, which first emerged in central Hubei province in December.
A long shutdown in China will leave a mark on key sectors
India may be relatively immune to the partial shutdown in China on account of coronavirus but a prolonged shutdown may have material impact on sectors such as steel, oil & gas, pharma, auto ancillaries, consumer durables, IT services and chemicals. Here's how:
Travel and transportation is a key vertical for Indian IT services companies with clients comprising airline companies, railroads and hotels. COVID-19 will reduce travel, impact financials and the ability to spend. Mindtree and Hexaware have the highest exposure. Also, there could be indirect impact in the form of reduced east-bound air travel and potential restrictions on west-bound travel.
The consumer durables sector will be impacted due to a shutdown of manufacturing units in China. Indian durables manufacturers have a large dependence on China for critical inputs such as compressors for air-conditioners and refrigerators.
Almost all requirements of compressors as well as certain other components required for white goods are imported, with a bulk of the same being imported from China. Electrical goods and appliances companies such as Crompton Greaves Consumer and Havells also import lighting and switchgear products from China and may be impacted, it said.
Hero Motocorp imports alloy wheels from China, which may get impacted if the situation does not improve in 1-2 months.
The company has supplies for 45-60 days currently. Also, the supply of certain fuel injection parts, imported by Bosch, could be impacted. Tyre manufacturers may benefit as Chinese radial imports may decline although it is a small part of the industry now (around 5%), it said.
The sector will be impacted due to a disruption in the supply chain of bulk chemicals and intermediates. Kotak said agrichemical players have gradually reduced dependence on China in recent years post environment-led supply disruptions. Domestic players carry around two months of inventories for key raw materials.
The Indian pharmaceuticals industry has deep linkages to China, given its reliance on China for critical elements of a drug’s supply chain, starting from basic chemicals, key starting materials (KSM), intermediates and even active pharamaceutical ingredients (APIs). Among Indian companies, Laurus Labs has the highest potential impact from China.
Downstream companies will be impacted due to a slowdown in demand for petrochemical and refined products. Lower refining margins will lead to lower profits for downstream oil companies such as BPCL, HPCL, IOCL and RIL.
China is a net steel exporter. China demand has been impacted more than supply, resulting in higher domestic inventory and pressure on domestic prices. Weak domestic steel prices in China and lower iron ore prices outside China have started impacting steel prices outside China too.
Two passengers from virus-hit Japan cruise ship have died
Two passengers from the coronavirus-hit Diamond Princess cruise ship that had been quarantined in Japan have died, public broadcaster NHK reported on Thursday. The passengers were a man and a woman in their 80s, NHK said, citing an unidentified government source. (Reuters)
Virus in numbers
Hubei has reported 349 new infections and 108 new deaths since yesterday. This shows a decline which is due to a new methodology which differentiates suspected cases from confirmed ones. (Bloomberg)
Is Japan the next Wuhan?
As the tally of new coronavirus death slows down in China, Japan has seen a rise. The country now is one of the riskiest places for the spread of the virus and PM Shinzo Abe has been criticised for the government's lax response. Whats more, the passengers who have finally disembarked the Diamond Princess cruise ship could still test positive for the virus, which has fueled more uncertainty. (Bloomberg)
The government is contemplating ways to encourage domestic manufacturing of active pharmaceutical ingredients (APIs) to counter a potential shortage of bulk drugs and intermediates amid the Covid-19 outbreak.
Mainland China reports lowest confirmed cases since Jan 23
Mainland China had 394 new confirmed cases of coronavirus infections on Wednesday, the National Health Commission said on Thursday, down from 1,749 cases a day earlier and the lowest since Jan. 23. (Reuters)
Virus spreads more like flu than SARS: Chinese study
Scientists in China who studied nose and throat swabs from 18 patients infected with the new coronavirus say it behaves much more like influenza than other closely related viruses, suggesting it may spread even more easily than previously believed. (Reuters)
Outbreak has slashed China's carbon emissions: Study
China's carbon emissions have dropped by least 100 million metric tonnes over the past two weeks, according to a study published on Wednesday by the Centre for Research on Energy and Clean Air (CREA) in Finland. (AFP)
Among the 3,711 passengers and crew, 621 people were found to be infected with the new coronavirus as of Wednesday. On Tuesday, 88 people tested positive and a day earlier 99 others were found to have been infected
SII announced that a vaccine candidate for the novel coronavirus, which has killed more than 2,000 people in China since its outbreak in December-end, is expected to progress to human trial phase within the next six months.
As global GDP estimates are being downgraded by multilateral institutions because of coronavirus, India, too, will have to evaluate the impact on its economy, especially with the country’s high dependence on Chinese imports
India's pharmaceutical and electronic manufacturing sectors are dependent on China for inputs and they may be impacted, Das told in an interview here. "It is definitely an issue which needs to be closely monitored by every policymaker whether in India or any other country. Every policymaker, every monetary authority needs to keep a very close watch. So coronavirus issue needs to be closely watched," he said.