Coronavirus LIVE: Govt panel advises sustainable pricing model at hospitals

Coronavirus update: US is the worst-hit country with 12,268,678 coronavirus cases, followed by India, which has 9,050,442 cases, Brazil (5,912,903), France (2,109,170), Russia (2,039,926)

9:51 AM

'Covid pandemic worsening rapidly in Canada'

Canada could see upward of 60,000 new cases of Covid-19 by the end of December if Canadians increase their contacts and gatherings, according to the Covid-19 modelling charts issued by the Public Health Agency of Canada.

 

The modelling shows the country's daily case counts are increasing significantly and rapid growth is occurring in several provinces because each new case in Canada is spreading the infection to more than one other person, Xinhua reported.

 

It demonstrates that even under current rates of contacts into December, Canada could record 20,000 cases a day.

9:50 AM

Patent battles could choke coronavirus drugs pipeline: Carlos Correa

India and South Africa are currently leading a call at the World Trade Organization (WTO) for intellectual property (IP) exemptions on items like diagnostic kits, vaccines, medicines, personal protective equipment and ventilators required to fight Covid-19. These exemptions from the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement would mean that WTO member countries would not necessarily need to grant or enforce intellectual property rights related to Covid-19 drugs, vaccines, diagnostics and other technologies.

 

According to the submission by the governments of India and South Africa, the waiver ought to continue until “the majority of the world's population has developed immunity” and until “widespread vaccination is in place globally”. Read on...

9:36 AM

Coronavirus in India: Summary of MoHFW data (November 21)

Active cases: 439,747 (Net reduction: 4,047)

Deaths: 132,726 (Net addition: 564)

Cured: 8,478,124 (Net addition: 49,715)

Total cases: 9,050,597 (Net addition: 46,232)

9:32 AM

US economy faces looming test as coronavirus wildfire rages

The uneasy balance between the wildfire-like spread of the coronavirus in the United States and an economy that remains largely open may be tested in coming weeks if face mask mandates and other lighter-touch measures fail to control the crisis.

 

U.S. infections of COVID-19 are growing by more than 1 million a week, according to data from the COVID Tracking Project, and deaths are on the rise too. More than 252,000 people in the country have lost their lives to the disease.

 

The intensifying pandemic may already have slowed hiring and begun to curtail retail spending on the cusp of the holiday shopping season, and JPMorgan analysts on Friday said they now think the economy may actually contract again at the start of the year as government restrictions spread.

9:30 AM

S&P 500, Dow dip as spiking coronavirus infections eclipse vaccine hopes

The S&P 500 and the Dow edged lower on Friday as investors headed into the weekend grappling with disappointing fiscal stimulus news and uncertain efforts to combat a spiraling COVID-19 pandemic with vaccines.

 

Semiconductor stocks and other stay-at-home plays, which have thrived throughout the health crisis, helped keep the Nasdaq green.

 

Throughout the week, investors whipsawed between economically-sensitive cyclical stocks and pandemic-resistant market leaders. Read on...

9:29 AM

Jharkhand reports 185 new coronavirus cases, two more fatalities

Jharkhand reports 185 new coronavirus cases, two more fatalities. Infection tally rises to 107,157, death toll reaches 939. The state now has 2,594 active cases of the disease.

9:22 AM

G20 determined to use all tools to contain pandemic, save jobs, incomes

G20 nations are determined to continue doing everything possible to contain the COVID-19 pandemic, warning in a draft communique that the global economic recovery remains "uneven, highly uncertain, and subject to elevated downside risks".

 

Bringing the pandemic under control is the key to supporting a global economic recovery, the G20 leaders said in the draft, excerpts of which were obtained by Reuters. A final joint statement will be released by leaders from the United States, China and other Group of 20 nations after they meet by video conference on Saturday. Read on...

9:14 AM

Indian-American doctor identifies possible COVID-19 treatment

An Indian-American scientist has discovered a potential strategy to prevent life-threatening inflammation, lung damage and organ failure in patients diagnosed with COVID-19.

 

Published online in the journal Cell, the research coming from the lab of Dr Thirumala-Devi Kanneganti, an Indian-born researcher working at St. Jude Children's Research Hospital in Tennessee, identified the drugs after discovering that the hyperinflammatory immune response associated with COVID-19 leads to tissue damage and multi-organ failure in mice by triggering inflammatory cell death pathways.

 

The researchers detailed how the inflammatory cell death signaling pathway worked, which led to potential therapies to disrupt the process.

9:04 AM

Wall Street closes lower as surging COVID-19 cases offset vaccine hopes

U.S. stocks closed lower on Friday as investors wrestled with fiscal stimulus developments, concerns over a lengthy rollout of vaccines, and a growing number of state-level shutdowns to combat the spiraling COVID-19 pandemic.

 

Stay-at-home plays such as Zoom Video Communications Inc and Netflix Inc , which have outperformed throughout the health crisis, helped curb the Nasdaq's loss.

 

Throughout the week, the ebb and flow of vaccine news and spiking infections had investors oscillating between economically-sensitive cyclical stocks and pandemic-resistant market leaders.

 

The S&P 500 and the Dow posted marginal losses for the week, while the tech-laden Nasdaq settled a bit higher from last Friday's close.

 

"Markets are still stuck in a push-and-pull between the dramatic rise of new COVID cases versus apparent progress on vaccines," said David Carter, chief investment officer at Lenox Wealth Advisors in New York. "This is likely to continue until we have an approved and distributed vaccine."

9:03 AM

USA coronavirus update: Rural America beset with chronic poverty struggles to deal with Covid-19

To some extent, resistance to wearing masks and social-distancing has played a role in these outbreaks. Read on...

8:51 AM

Night curfew to be imposed in Surat, Vadodara & Rajkot cities of Gujarat from today

8:50 AM

World coronavirus update: Italian province undertakes mass testing for coronavirus

Italy's northern Alto Adige province has launched a mass coronavirus screening programme, officials said.

 

The Alto Adige province is a part of Italy's Trentino Alto Adige region, which shares a northern border with Germany and Austria.

 

The region has a population of just over one million, according to January 1, 2019 data from the National Institute of Statistics (ISTAT).

 

The Alto Adige province has a population of over 530,000, and the plan is to screen 350,000 people by Sunday, local authorities said.

 

The province reported 11,511 positive Covid-19 cases on Friday, according to the Ministry of Health.

8:46 AM

Saudi Arabia commits $500 mn to coronavirus vaccine development

The Saudi Arabian government has committed more than $500 million to funding efforts to develop and produce a safe and effective vaccine against the coronavirus disease, the country's health minister, Tawfig Al Rabiah, said ahead of the G20 Summit on Friday.

 

"The Kingdom has committed $500 million to support efforts to develop a vaccine against Covid-19," Al Rabiah remarked.

 

At the same event, Abdullah Al Rabiah, the supervisor general of the King Salman Humanitarian Aid and Relief Centre (KSrelief), said that Saudi Arabia will be one of the first countries to receive any vaccines against Covid-19.

8:21 AM

Exports may be muted as WTO warns of growth slowdown in global trade

In what could have an adverse impact on India’s exports, the World Trade Organization (WTO) has warned the growth rate in global merchandise trade is likely to slow down during October-December this year as several countries impose fresh lockdowns in light of the second wave of Covid-19.

 

“... growth in (global trade) is likely to slow in the fourth quarter (October-December, or Q4) as pent-up demand is exhausted and inventory restocking is completed,” the WTO said in its latest report. Read on...

8:18 AM

Joe Biden wants Congress to pass coronavirus aid in lame-duck session

President-elect Joe Biden is pushing Congress to approve billions of dollars in emergency COVID-19 assistance before he takes office, saying in a meeting Friday with the top Democrats in the House and Senate that such a package should be approved during the lame-duck session.

 

Biden held his first in-person meeting since winning the presidential election with House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer, hosting them at his makeshift transition headquarters in a downtown Wilmington, Delaware, theater. Read on...