Showing posts with label Italy. Show all posts

Tuesday 12 October 2021

Singapore and Japan passports tied for most powerful in the world, Vaccination rates for Asean

Holders of Singapore and Japan passports can travel without a prior visa to 192 destinations.PHOTO: ST FILE

SINGAPORE - Singapore and Japan have the most powerful passports in the world, according to the latest update of a global index.

Holders of passports from the two countries can travel without a prior visa to 192 destinations, it noted last week.

This is a change from April, when Japan outstripped Singapore in having the world's most powerful passport, with Japanese passport holders able to travel to 193 destinations without a prior visa, while Singaporean passport holders had such access to 192 destinations.

In the latest update, South Korea and Germany are tied for second place, with such access to 190 countries. The two countries had been tied for third place in April, with access to 191 destinations.

Finland, Italy, Luxembourg and Spain are in third place, with access to 189 nations; while Austria and Denmark are in fourth, with access to 188 countries.

The index, administered by Henley & Partners and updated throughout the year, ranks passport power according to how many destinations their holders can travel to without a prior visa.

The global citizenship and residence advisory firm noted that the gap in travel freedom is at its widest since the index was started in 2006, with Singaporean and Japanese passport holders able to visit 166 more destinations than Afghan citizens, who can travel to only 26 nations worldwide without acquiring a visa in advance.

Britain and the United States have been facing eroding passport strength since they held the top spot in 2014. Both remain tied in seventh place, but have a score of 185, down from 187 in the first quarter of the year.

Egypt is ranked 97th, with its citizens having access to 51 countries without a prior visa, while Kenya is 77th, with access to 72 destinations visa-free.

Meanwhile, Singapore will be allowing vaccinated travellers to travel to nine more countries and return without quarantine, the authorities announced last Saturday (Oct 9).

From Oct 19, vaccinated travellers from Singapore will be able to fly to Canada, Denmark, France, Italy, the Netherlands, Spain, Britain and the US.

The scheme will be extended to South Korea from Nov 15, it was announced last Friday.

These are in addition to Brunei and Germany, which Singapore had already approved for quarantine-free travel for those fully vaccinated.

In total, there will be 11 countries that Singapore approves for quarantine-free travel.

Vaccination rates for Asean (%)

Source: Centre for Strategic & International Studies, Aminvestment Bank

Malaysia is ranked the 3rd highest among Asean countries.

This paves the way for more economic activities to resume although it may not be a full recovery, matching that of pre-covid times.

Analysts are positive on this as the high vaccination rate is a leading indicator that economic activities should recover faster in Malaysia as compared to most countries in Asean.

Monday 7 December 2020

GT investigates: Seeking for virus origin

https://youtu.be/X0dzqLuQPrU

Frequent outbreaks triggered by imported frozen products; reports suggesting traces of coronavirus found elsewhere earlier than Wuhan… so is COVID-19 outbreak in Wuhan also result of imported cold-chain products? Check GT special investigative report…

GT investigates: Could cold-chain imports have sparked Wuhan early COVID-19 outbreak?

Italian newspaper Corriere Della Sera reported in November that a new coronavirus was circulating in Italy in September 2019, a study by the National Cancer Institute (INT) of the Italian city of Milan shows, indicating that the virus may have existed in Italy months before it was first detected in China.

The Italian researchers’ findings, published by the INT’s scientific magazine Tumori Journal, show 11.6 percent of 959 blood samples from healthy volunteers enrolled in a lung cancer screening trial between September 2019 and March 2020 had developed coronavirus antibodies well before February.

Peter Forster, a geneticist from Cambridge, also told the Global Times that he is not surprised that there might be cases earlier than China.

Foster suggests it is useful to think of three stages in the origins of the coronavirus: when and where did it cross the species barrier from bats to humans and when and where did it start spreading successfully among humans. “My dating suggests sometime between September and December 2019,” said the virologist, proposing finally to look at when the globally dominant infectious coronavirus subtype arose.

“Everyone agrees it was prominent in Northern Italy in February 2020. Some scientists said it came to Italy from China, but I am not so sure,” he said.

Evidence of both epidemiology and virology are needed to find out where the virus comes from, said the Beijing-based anonymous expert. If the pandemic originated from a certain place, there should be signs of an early outbreak. It is also possible that the virus already existed, but not seriously enough to cause an outbreak, he said, noting that there is only a small probability of the latter scenario, and no solid evidence to support it.

From a virology perspective, a full gene sequence of cases from that place should be obtained for observation and for determining when the virus was transmitted to this place via time and the virus’ variation point, said the expert.

“If we have doubts that the virus was originated from places other than Wuhan, we can compare its sequencing with the virus that was found in Wuhan. [We should] compare their homology and variability, to see if the virus found in other places is in its early stage, or it is evolved,” he said.

There are reports from several countries that early blood samples tested positive for the virus, but they can provide no evidence of the nucleic sequence, so the possibility of a false negative cannot be ruled out, said the anonymous expert.

He believes that if antibodies can be found in the blood serum, then the virus can also be found there. Even if the virus is not infectious anymore, it is easily detected, as its nucleic acid is protected by the coat of the virus and it is very stable and sensitive.

The Huanan Seafood Wholesale Market in Wuhan, Central China's Hubei Province on November 22. Photo: Fan Lingzhi/GT

International cooperation urged

Although those virologists have pictured a clear route map to trace the origin of the virus, the real path to finding the origin is laden with difficulties.

The anonymous expert said that in terms of tracing the virus origin, the momentum for international scientists to cooperate has retrogressed compared with the pre-COVID-19 period.

“Scientists are reluctant to become involved in politics, they are eyeing international cooperation. Yet researchers from all over the world are acting with caution, avoiding troubles, and refusing casual communication. I don’t think it’s an ideal atmosphere for cooperation.”

This has drawn attention from international bodies. WHO Director-General Tedros Adhanom Ghebreyesus urged countries on November 30 not to politicize the hunt for the origins of the new coronavirus, saying that would only create barriers to learning the truth.

When talking to Tedros in September, director of China's National Health Commission Ma Xiaowei vowed to enhance cooperation with the WHO on virus prevention, origin tracing and vaccine development. China is pushing forward the work on the virus origin tracing, and is willing to strengthen cooperation and communication with the WHO, Ma said.

Chinese Foreign Ministry spokesperson Zhao Lijian said on November 24 that while tracing the origin domestically, China has been earnestly implementing WHA resolutions.

"We are the first to invite WHO experts in for origin-tracing cooperation." Zhao said, adding that "We hope all relevant countries will adopt a positive attitude and cooperate with WHO like China does, making contributions to global origin-tracing and anti-epidemic cooperation."

“International communication on the virus origin should be frequent and open for all. But some countries weighed in and complicated the issue,” said Yang, who noted that the world has achieved great progress in fighting COVID-19 in the past year, including treatment of the disease and vaccine R&D.

Tracing the virus origin should not be a battle against each other; instead, an information, data sharing mechanism is helpful to bring the virus under control, Yang said.

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Sunday 1 March 2020

Covid-19 reaches the West

https://youtu.be/F_Jq7ItdHtA

Tourists wearing protective masks walks by the Duomo in central Milan on February 27,2020 amid fears over the spread of the novel Coronavirus. - The number of COVID-19 infections in Italy, the hardest hit country in Europe, hits the 400 mark late on February 26, with 12 deaths. (Photo by Miguel MEDINA/ AFP)

But keep cool, negative volatility will likely be followed by positive volatility

The coronavirus (Covid-19) outbreak has officially reached Western shores.

Since last week, the virus has spread to Europe, Brazil and the Middle East.

New cases have emerged across Europe.

There have been more than 81,000 people infected with nearly 3,000 deaths so far.

Just the previous Wednesday on Feb 19, stocks in the US were complacently at record highs, never mind that Asian markets were roiling and taking huge hits, thanks to the coronavirus that first took roots in Wuhan, China.

Asia has been battling this disease since January. Markets have been volatile but have since recovered as the number of infections have reduced and governments have been diligent at handling the disease.

It is like the domino effect, with the same reactions, panic and emotions that happened throughout Asia now migrating to the West.

It is almost deja-vu, seeing the fear and market reaction, no doubt the impact to the Dow and S&P 500 has a significantly larger impact.

The Covid-19’s largest impact is the fear it has transmitted with rapid speed.

In the US, stocks fell for a sixth straight day on Thursday, with the S&P 500 price index falling 4.4% and bringing this pullback officially into correction territory. On a six-day basis, the Dow Jones was down 13.4% at 25,766.64.

This plummet followed California governor Gavin Newsom’s revealing on Thursday that the state was monitoring 8,400 people for potential Covid-19 infections.

Adding to the bleak outlook, Goldman Sachs slashed its profit outlook and warned the outbreak could cost Donald Trump his reelection in November.

The MSCI all-country global index has dropped more than 7% over this six-day period. Considering stocks were at record highs the previous Wednesday, this is very harsh and painful.

Why, Tesla was all the hype earlier in February. It was US$901 on Feb 21, and new higher target prices were being touted by analysts, nevermind that the stock still didn’t have a price to earnings ratio.

In the last five days, Tesla’s share price had tumbled more than US$200 or 32.7% as of Thursday to close at US$679.

Don’t panic

For the average investor, panic has likely set in.

Whose confidence level would not be shaken with a 12% decline in the S&P 500 in six trading days?

Now talk of a 20% decline is starting to emerge.

Meanwhile the 10-year US treasury yield dropped below 1.3%, remaining in record-low territory.

The downward spiral in oil also continued with WTI crude toppling 2.71% to trade at US$47.41 per barrel on Thursday. Brent oil hovered at the US$51.42 level. So just barely two months into 2020, it is Covid-19 which has been responsible for crushing markets and dismantling profits across the globe.

Many have already slashed market forecasts for the year.

In the past two market stories featured on StarBizweek, readers would know that Fisher MarketMinder thinks that fears over the virus’ market impact are overdone. It thinks that this is part of a longer-running pattern prevalent throughout this bull market.

“The stock market will do what it does – rise and fall.

“If you’ve got a plan based on your risk tolerance and investment horizon, don’t let fear make you swerve in the wrong direction and lose traction.

“Panic is never a good investment strategy, ” says Fisher MarketMinder.

It adds that Covid-19 is grabbing attention because it is new and somewhat novel, but that doesn’t mean its economic effects far outweigh more familiar diseases.

The Center for Disease Control and Prevention estimates that there were 34,200 deaths in the United States from influenza during the 2018-2019 flu season.

For infections of Covid-19 outside of China, the mortality appears very low.

Furthermore, the people who are dying tend to be the old and immuno-suppressed or otherwise sick.

“Supply chain disruptions as officials work to contain the outbreak probably dent growth temporarily, but markets are efficient and likely pricing in these expectations as companies issue statements.

“Short-term volatility could linger, but patience should pay off, in our view, ” it adds.

As legendary investor Ben Graham once said, stocks are a voting machine in the short term and a weighing machine in the long term.

“Sentiment wins in the short term, but fundamentals matter most over more meaningful stretches.

“The ‘why’ and ‘how much’ behind sentiment swings strike us far less important.

“The emotional swing itself is what matters.

“Market fundamentals likely didn’t change on a dime seven days ago, ” says Fisher MarketMinder.

Thursday’s drop simply put US stocks back at mid-October levels.

Furthermore, the world hasn’t fundamentally changed.

While there is no way to know when this drop will end or how much further it will fall, no drop is permanent.

“Whether the rebound starts in days or weeks, whether it is fast or slow, if you have held on thus far, we think you ought to reap the good that comes with the bad.

“Corrections hurt your long-term returns only if you don’t participate in the rebounds that follow them.

“Selling may feel good at a time like this. But when you remove emotion from the equation, all it does is transform a market decline into an actual portfolio loss, ” says Fisher MarketMinder.

Another investor who is cheering is one of the smartest investors in the world, Warren Buffett, chairman and CEO of Berkshire Hathaway.

He says the stock market rout we’re witnessing today is “good for us.”

“We’re a net buyer of stocks over time, ” he says on CNBC.

“Most people are savers, they should want the market to go down.

“They should want to buy at a lower price.”

Buffett’s comments came as Dow futures were down by about 800 points or 3% on Monday as stocks around the world plunged as the Covid-19 outbreak escalated.

Regarding the coronavirus specifically, Buffett made clear that he is “not a specialist.” And he warns that “a very significant percentage of our businesses one way are affected.”

However, he reiterates that investors should be more focused on the long term, not the short term.

“If you’re buying a business, and that’s what stocks are... you’re gonna own it for 10 or 20 years, ” he says.

“The real question is has the 10-year or 20-year outlook for American businesses changed in the last 24 hours or 48 hours?” the legendary investor asks.

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