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96% of COVID-19 cases are among those not fully vaccinated, B.C. health officials say – Global News

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Ninety-six per cent of the COVID-19 cases recorded from June 15 to July 15 were among people who were either only partially vaccinated or not vaccinated at all, B.C.’s health minister says.

“If you take all the cases from June 15 to July 15, 78 per cent of those cases are among those who are unvaccinated,” Adrian Dix said.

“I think the evidence will encourage more people to get vaccinated. That tells you people should need to get vaccinated. We are seeing new cases and they are largely in unvaccinated people.”

Read more:
B.C. reports over 100 new COVID-19 cases for first time in five weeks

The B.C. government will not require people to get the vaccine, but will not stop private businesses from doing so.

The seven-day rolling average for new cases rose from 42 new cases a day one week ago, to 73 new cases a day on Friday.

Most of the new cases are linked to indoor social gatherings at people’s homes, Dix said.


Click to play video: 'COVID-19: B.C. reports 89 new cases of virus, highest daily total in more than a month'



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COVID-19: B.C. reports 89 new cases of virus, highest daily total in more than a month


COVID-19: B.C. reports 89 new cases of virus, highest daily total in more than a month

“We are not going to deny access to services. Based on your vaccinated. That is our position. It will not be mandatory in that sense. There will be requirements in certain sense if people are not vaccinated,” Dix said.

“I think if you are going to have someone over to your house for dinner, you should ask them if they have been vaccinated, and it’s ok to tell them not to come if they haven’t been.”


Click to play video: 'COVID-19: B.C. government provides $36.5M to 83 anchor tourist attractions, higher vaccination rates mean lower cases'



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COVID-19: B.C. government provides $36.5M to 83 anchor tourist attractions, higher vaccination rates mean lower cases


COVID-19: B.C. government provides $36.5M to 83 anchor tourist attractions, higher vaccination rates mean lower cases

As of Friday, 80.3 per cent of eligible people 12 and older in B.C. have received at least one vaccine.

The province is hoping to hit 85 per cent immunization.

All five health authorities have been adopting additional strategies to supplement the mass immunization clinics, including pop-up clinics for first doses at parks, amusement parks, and beaches.

Read more:
COVID-19: B.C. reports no deaths but 89 new cases, highest daily total in over a month

Dr. Navdeep Grewal of the South Asian COVID-19 Task Force said the province or private businesses should consider vouchers for food or sports tickets to encourage immunization.

“I think it is that final 10 per cent (of the population) we need to get vaccinated, so we can avoid the fourth wave in the fall and winter,” Grewal said.

“We need to find out where they are gathering, give them the information they need, and then give them that first dose that is so needed.”

© 2021 Global News, a division of Corus Entertainment Inc.

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Canada pauses COVID-19 vaccine deliveries as supply outpaces demand – Global News

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Further deliveries of COVID-19 vaccines to Canada are on pause because provinces already have more doses than they can currently use.

Canada was to get 95 million doses of vaccine from Pfizer-BioNTech and Moderna by the end of September, but is about 20 million doses shy of that as of Wednesday.

Read more:
Why did Pfizer, Moderna COVID-19 vaccines get new names after approval? Experts explain

But Canada is already sitting on a stockpile of 18.7 million doses and doesn’t need any more to fully vaccinate eligible people over the age of 12. That includes 8.5 million doses shipped to provinces and not yet used and 10.2 million in a federal stockpile provinces can turn to if they need it.

As of Wednesday, 80 per cent of eligible Canadians were fully vaccinated against COVID-19, and another seven per cent have their first shot. At most, Canada would need 11 million doses to finish vaccinating everyone over 12.

As such, all provinces stopped requesting new doses by the end of August, and Canada has told suppliers not to send any more shipments for the time being.

Canadian officials are currently in talks with suppliers and other countries that need vaccines working on plans to donate Canada’s excess doses of Pfizer and Moderna.

Canada has already promised to donate 40 million doses it purchased but cannot use from AstraZeneca, Johnson & Johnson and the COVAX vaccine-sharing alliance.


Click to play video: 'B.C. preparing to offer COVID-19 vaccine to 6- to 11-year-olds once approved'



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B.C. preparing to offer COVID-19 vaccine to 6- to 11-year-olds once approved


B.C. preparing to offer COVID-19 vaccine to 6- to 11-year-olds once approved

It has to date shipped just 82,000 doses of the Oxford-AstraZeneca vaccine directly to Trinidad and Tobago.

Vaccine donations are trickier than they might first sound, because of legal liabilities and vaccine dose expiration issues. Most countries won’t accept doses if the expiration date is under eight weeks, to ensure they can be used in time.

The vaccine contracts with Pfizer and Moderna also did not specifically spell out how excess doses could be donated, while the contracts Canada signed with AstraZeneca and J&J did.

U.S. President Joe Biden called on countries like Canada to do more to help get the rest of the world vaccinated following a virtual vaccine summit at the United Nations General Assembly on Wednesday.

Read more:
Pfizer Canada eyeing urgent COVID-19 vaccine approval for children aged 5 to 11

Biden said the U.S. was doubling its donations to more than one billion and said “we need other high-income countries to deliver on their own ambitious vaccine donations and pledges.” He said the goal should be to vaccinate 70 per cent of the world’s population within 12 months.

In a release, the PMO said Prime Minister Justin Trudeau joined other world leaders in committing to that goal.

The Prime Minister also spoke about Canada’s commitment to support equitable access to COVID-19 vaccines, tests, and treatments, including through significant financial support for vaccines and donations to countries.

It noted that to date, Canada has contributed more than $2.5 billion to help address the crisis globally, including sharing vaccine doses with the rest of the world.

Trudeau promised in the Liberal election platform that Canada will donate “at least” 200 million doses of vaccine through COVAX by the end of next year.

Currently, 31 per cent of the world’s population is fully vaccinated, but the rollout has been very lopsided. Wealthy countries snapped up the vast majority of available doses, leaving developing nations to wait.


Click to play video: 'Where is Canada heading in its fight against COVID-19?'



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Where is Canada heading in its fight against COVID-19?


Where is Canada heading in its fight against COVID-19?

Africa has only fully vaccinated four per cent of the population, compared with 51 per cent in Europe and 45 per cent in North America.

At least 13 countries are above 70 per cent fully vaccinated. Canada, with 69.5 per cent of the entire population fully vaccinated, is close.

Canada is also preparing to start vaccinating children between five and 11, with Pfizer expected to request authorization for that age group imminently. The company said earlier this week a clinical trial showed the vaccine was safe and produced a robust antibody response in that age group.

The dose for children is one-third the size that given to adults and it’s not clear yet whether Canada could simply draw out smaller doses from each vial of vaccine already shipped.

A spokeswoman for the company said Wednesday that Pfizer was preparing a “different presentation for pediatric use” but would not confirm if that meant none of the doses Canada already has could be repurposed for kids.

© 2021 The Canadian Press

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Evolution of Canada as a Modern Payments Leader

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With Silicon Valley taking most of the tech headlines from the North American continent, Japan being regularly publicized for its leaps in robotic technologies, and the UAE constantly investing in the latest tech, it doesn’t come as a surprise that many forget about Canada as a leader in the world.

However, just because Canada doesn’t command international headlines doesn’t mean that the country hasn’t proven to be incredibly tech-savvy, especially in the realms of payments and money. As a developed market, Canada has long boasted one of the highest credit card penetration rates in the world, at 83 percent (17 percent higher than the United States).

This is the start of a trend that will likely see Canada become the example of how payments around the world will take place, especially as it’s reported that the country will likely be the first to banish banknotes. Already, over 80 percent of Canadian bank transactions are made digitally, with there being many solutions available to the population. Yet, there’s more to come from the world-leading market in modern payments.

Rapid adoption of innovative cashless payment services

 

Source: Pixabay

While VISA, MasterCard, and American Express still form the foundations of much of Canada’s payments preferences, eWallet and mobile payment solutions have become incredibly prevalent. Both PayPal and Apple Pay boast a strong customer base across the country, with a 2019 survey indicating that over 20 percent of Canadians had the PayPal app, with over 15 percent installing the Apple Pay app.

It shouldn’t come as a surprise that, due to the influx of these once-termed ‘alternative’ payment methods, new industries have quickly embraced them to appeal to Canadians. This isn’t anywhere more apparent than with the online casino industry, with the very best accepting PayPal as well as Skrill, Neteller, Trustly, and the two card providers. By offering these safe and popular methods, players are happy to try out thousands of online games.

PayPal looks to be positioning itself as the leader of a cashless Canada, and yet it’ll be expanding its offering even further soon. In September 2021, PayPal paid US$2.7 billion to acquire Japanese online payments firm Paidy, which specializes in buy-now-pay-later (BNPL) and payments without credit cards. This could further enhance its appeal to the Canadian population.

Growing into an ever-more digital space for money

Source: Unsplash

Despite the rate of adoption of the newer or tech-savvy payment methods among customers, many still experience payment friction. It was found that over half of all Canadians have experienced a vendor not accepting their preferred payment method or there being a limit on the amount that can be transferred with any one purchase. This is why PayPal’s entry into BNPL could enhance its scope in Canada.

The BNPL market is tipped to be worth nearly US$4 trillion by the end of this decade, making it a powerhouse option in eCommerce. It will certainly become popular in less-developed markets, where people want more expensive goods than they can afford outright. However, it also has its place in a market like Canada, which will make all tiers of purchase more accessible to all, particularly if the PayPal rollout gains traction.

Another digital area of finance that Canada is seen to be particularly smitten with is that of cryptocurrencies. The government has created a remarkably crypto-friendly regulatory landscape, helping all kinds of coins to know where they stand, appeal to Canadians, and be used across the country. It’s said that around 1.2 million people (3.2 percent of the population) own cryptocurrencies in Canada already.

It doesn’t come as a surprise that Canada is tipped to become the first cashless nation in the world, particularly with the adoption rate of eWallets and the embrace of even more modern solutions.

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Chinese builder in debt jam says it will make bond payment – CP24 Toronto's Breaking News

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Joe Mcdonald, The Associated Press


Published Wednesday, September 22, 2021 7:08AM EDT


Last Updated Wednesday, September 22, 2021 7:08AM EDT

BEIJING (AP) — A Chinese real estate developer whose struggle to avoid defaulting on billions of dollars of debt has rattled global markets says it will pay interest due Thursday to bondholders in China but gave no sign of plans to pay on a separate bond abroad.

The Chinese government, meanwhile, added to investor anxiety Wednesday by staying silent about whether it might intervene to restructure Evergrande Group’s $310 billion debt.

Evergrande’s struggle to comply with financial restrictions imposed by regulators to curb rising debt in the Chinese economy has prompted fears a default might cause global shockwaves. Economists say Beijing can prevent a Chinese credit crunch but wants to avoid appearing to arrange a bailout while it tries to force other companies to reduce reliance on debt.

Evergrande appears to be trying to buy time for “an orderly default rather than a shocking implosion” by paying bondholders in China on time while skipping payments abroad, said Vishnu Varathan of Mizuho Bank in a report.

“Averting a default altogether is highly unlikely,” Varathan said.

If regulators get involved, they are likely to focus on protecting families that paid for apartments that are yet to be built, economists say. That would cause bigger losses for banks, construction companies and other creditors.

Evergrande, which ratings agency S&P Global says is the world’s most-indebted real estate developer, said it will make a payment due on a 4 billion yuan ($620 million) bond denominated in Chinese yuan.

A company statement said details were “settled in negotiations outside the market” but gave no indication whether that meant any change in the payment. The bond has a 5.8% interest rate, which would make the normal amount due 232 million yuan ($36 million) for one year.

Evergrande did not say if it would make a separate payment of $83 million due Thursday to holders of a U.S. dollar-denominated bond that matures in March.

Evergrande appears to be favoring Chinese creditors in order to negotiate with a circle of friendly banks and other institutions that hold its debt, said Mizuho’s Varathan. He said that “optimizes relief from creditor action” in China.

A default on a bond in China would trigger a cross-default on a bond abroad but missing a payment abroad doesn’t have the same effect with in China, according Varathan. He said it would be harder to renegotiate with a “diverse and dispersed” investor pool abroad.

China’s main stock market benchmark, the Shanghai Composite Index, closed 0.4% higher following the announcement. Hong Kong financial markets, which have been jolted by Evergrande’s predicament, were closed for a holiday.

Some commentators suggest Evergrande might become China’s “Lehman moment,” referring to the failure of Wall Street bank Lehman Brothers, a forerunner to the 2008 crisis. But economists say the risk of global market contagion is low.

Evergrande has sold billions of dollars of assets to pay down debt since regulators tightened limits on borrowing by China’s real estate industry last year. The company is one of China’s biggest private sector conglomerates, with more than 200,000 employees, 1,300 projects in 280 cities and assets worth 2.3 trillion yuan ($350 billion).

Its billionaire founder, Xu Jiayin, expressed confidence in a letter to employees this week that the company will quickly resolve its debt problems.

Other major developers such as Vanke Co., state-owned Poly Group and Wanda Group have not reported similar problems. But hundreds of smaller developers have shut down since regulators in 2017 started tightening control over fundraising tactics such as selling apartments before construction begins.

The ruling party has declared reducing debt and financial risks a priority since 2018. But total corporate, government and household borrowing rose to nearly 300% of economic output last year from 270% in 2018, unusually high for a middle-income country.

As of June 30, Evergrande reported 2 trillion yuan ($310 billion) of outstanding debts to bondholders, banks, construction contractors and other creditors.

Of that debt, 240 billion yuan ($37.3 billion) was due within a year, nearly triple Evergrande’s 86.8 billion yuan ($13.5 billion) in cash holdings, according to a company financial report.

Beijing allowed the first corporate bond default of the communist era in 2014 in an effort to force borrowers and lenders to be more disciplined. Defaults by private sector borrowers have gradually been allowed to increase, but the government has arranged bailouts for state-owned companies.

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