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Beijing imposes coronavirus quarantine as economy struggles to pick up – FRANCE 24

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The Chinese capital Beijing on Friday imposed a 14-day self-quarantine on people returning to the city from holidays to prevent the spread of the new coronavirus, and threatened to punish those who failed to comply.

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It was not immediately clear how the restriction, relayed by the official Beijing Daily newspaper, would be enforced, or whether it would apply to non-residents of Beijing or foreigners arriving from abroad.

China‘s economy is struggling to get going after the annual Lunar New Year holiday, which was extended for 10 days to help contain the outbreak of the new and highly contagious respiratory virus, officially called 2019-nCov.

Authorities reported 5,090 new cases in mainland China, including more than 120 deaths, taking the number of infected to 63,851, and the number of deaths to 1,380.

The figures give no sign that the outbreak is nearing a peak, said Adam Kamradt-Scott, an infectious diseases expert at the Centre for International Security Studies at the University of Sydney.

But with 500 million people already affected by movement and travel restrictions, President Xi Jinping warned top officials last week that efforts to contain the virus had gone too far and were threatening the economy, sources said.

In cities such as Beijing and the business hub Shanghai, streets and subways remain largely deserted with many shops and restaurants empty or shut.

Government employee Jin Yang, 28, made it to his Beijing office but found it “anything but normal”.

Canteen lunches are banned in favour of boxed meals eaten at desks. Meetings are held online, not in person. Employees must wear masks all day and report their temperature twice a day.

Wuhan’s self-help

Wuhan, the city of 11 million people where the outbreak began, has the most acute problem.

With all public transport, taxis and ride-hailing services shut down in the city, volunteer drivers are responding to requests on ad hoc messaging groups to ferry medical staff and others in vital jobs to and from work, risking their own health.

Others work round the clock to find accommodation for medical workers in hotels that have volunteered rooms.

Many of the drivers keep their identities secret to avoid objections from family and friends. “Everyone in our group has such a strong sense of mission,” said 53-year-old Chen Hui, who runs one of the ad hoc ride services.

The virus is killing around 2% of those it infects, but is able to spread faster than other respiratory viruses that have
emerged this century.

“From now on, all those who have returned to Beijing should stay at home or submit to group observation for 14 days after arriving,” read the notice from Beijing’s virus prevention working group cited by the Beijing Daily.

“Those who refuse to accept home or centralised observation and other prevention and control measures will be held accountable under law.”

A World Health Organization-led joint mission with China will start its outbreak investigation work this weekend, focusing on how the new coronavirus is spreading and its
severity, WHO Director Tedros Adhanom Ghebreyesus said.

The mission will also seek more details on how, where and when the more than 1,700 healthworkers infected contracted the new virus, WHO officials said.

Slowdown

Economists polled by Reuters said China’s economic downturn would be short-lived if the outbreak was contained, but expected this quarter would show China’s slowest growth rate since the global financial crisis.

The Chinese carmakers’ association said auto sales in China were likely to slide more than 10% in the first half of the year because of the epidemic.

While the vast majority of infections and deaths have been in China, there have been nearly 450 cases in some 24 countries and territories outside mainland China, and three deaths.

Japan confirmed its first coronavirus death on Thursday. One person has died in Hong Kong and one in the Philippines.

Vietnam has imposed 20 days’ quarantine on Son Loi, a rural community outside Hanoi that is home to 11 of the 16 coronavirus cases reported in the country, two local officials said.

The biggest cluster of infections outside China has been on a cruise liner quarantined in a Japanese port, with 218 people on board confirmed as infected and taken to hospital.

On Friday, some passengers were allowed to disembark to complete their quarantine on shore.

The cruise liner MS Westerdam, carrying 1,455 passengers and 802 crew, was allowed to dock in Cambodia after being rejected by five countries though no cases had been reported on board.

With thousands of flights to and from China cancelled, the International Civil Aviation Organization forecast global
airline revenue could fall by $4 billion to $5 billion in the first quarter.

But the WHO has told the International Olympic Committee there is no cause to cancel or relocate the Tokyo Olympics, which start in July, the head of the IOC’s Coordination Commission said.

(REUTERS)

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Economy

S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

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TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

Statistics Canada reports wholesale sales higher in July

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OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 150 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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