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Biden to hold virtual event with G7 leaders on Friday: White House – Reuters

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FILE PHOTO: U.S. President Joe Biden delivers remarks on the political situation in Myanmar at the White House in Washington, U.S., February 10, 2021. REUTERS/Carlos Barria

WASHINGTON (Reuters) – President Joe Biden will hold his first event with leaders from the Group of Seven nations in a virtual meeting on Friday to discuss the coronavirus pandemic, the world economy and dealing with China as a group, the White House said on Sunday.

“This virtual engagement with leaders of the world’s leading democratic market economies will provide an opportunity for President Biden to discuss plans to defeat the COVID-19 pandemic, and rebuild the global economy,” the White House said in a statement.

The White House said Biden would focus his remarks on a global response to COVID-19 vaccine production and distribution as well as “continued efforts to mobilize and cooperate against the threat of emerging infectious diseases by building country capacity and establishing health security financing.”

Biden, a Democrat who took over from Republican former President Donald Trump on Jan. 20, has sought to project a message of re-engagement with the world and with global institutions after four years of his predecessor’s “America First” mantra.

Trump withdrew the United States from the World Health Organization and the Paris climate accord and largely scoffed at multilateral organizations and groups.

Biden brought the United States back into the WHO and rejoined the Paris accord and has signaled a desire to work with allies in confronting China on a host of thorny issues.

“President Biden will also discuss the need to make investments to strengthen our collective competitiveness and the importance of updating global rules to tackle economic challenges such as those posed by China,” the White House said.

Reporting by Jeff Mason; Editing by Daniel Wallis and Peter Cooney

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Alberta sees budget deficit narrowing to C$18 billion as oil prices recover

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By Nia Williams

CALGARY, Alberta (Reuters) – The Canadian oil-producing province of Alberta on Thursday estimated its 2021/22 budget deficit will shrink to C$18.2 billion ($14.5 billion), as its economy starts to recover from the damage caused by the coronavirus pandemic.

Alberta’s 2020/21 deficit stood at C$20.2 billion, compared with a C$24.2 billion deficit projected in August, as recovering crude oil prices help the province narrow its deficit.

Still, the deficit is larger than the historical trend, reflecting the impact of pandemic spending.

Finance minister Travis Toews said Alberta will set aside C$1.25 billion in contingency funding to fight COVID-19. The province also plans to invest nearly C$21 billion over three years in construction projects to create new jobs and support economic recovery.

“Budget 2021 will provide funding … to ensure Albertans have a competitive edge, as economies reopen, growth restarts and opportunities reappear,” Toews said in his budget address.

Alberta is the centre of Canada’s fossil fuel industry, and oil and gas revenues generate much of the province’s economic activity and revenues. The energy industry was battered last year by a collapse in global fuel demand due to COVID-19, although commodity prices are picking up as vaccines are rolled out globally.

Alberta said its financial exposure from an investment in TC Energy’s Keystone XL pipeline, which would have shipped to the U.S. but had its permit revoked by President Joe Biden, was C$1.3 billion. The government said if the project does not proceed it will seek to recoup the funds.

Toews said Alberta’s real gross domestic product would grow 4.8% in 2020, having contracted 7.8% last year.

The United Conservative Party government expects the provincial economy to reach pre-pandemic levels by 2022 and said the deficit will shrink to C$11 billion in 2022/23 and C$8 billion in 2023/24.

Revenue for the 2021/22 fiscal year is estimated at C$43.7 billion, up from $42.3 billion in 2020/21. Total spending is expected to be down slightly at C$61.9 billion, from C$62.5 billion in the previous fiscal year.

Alberta forecast U.S. crude prices to average $46 per barrel in 2021/22.

(Reporting by Nia Williams; Editing by David Gregorio and Grant McCool)

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Left out? Israeli vaccine refuseniks fear exclusion as economy reopens – TheChronicleHerald.ca

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By Rami Ayyub and Steven Scheer

TEL AVIV (Reuters) – Israel has led the world in COVID-19 vaccinations. Now it faces another challenge that other countries will have to grapple with: how to balance public health and the rights of the unvaccinated.

Its decisions will affect every walk of life – from schools to work, and culture to worship.

Half of Israelis have received their first shot, and the country began reopening its economy this week after a year of lockdowns and remote working.

But several activities have been deemed off-limits to the unvaccinated, angering those who cannot get the jab for health reasons, or refuse it as a matter of principle.

Some employers already plan to ban unvaccinated workers from the office, which rights groups fear could cost them their jobs. Unions have suggested workarounds, such as COVID-19 tests every 72 hours.

“I’m already at peace with the fact that I won’t be invited to certain events or allowed into areas of entertainment,” said Hila Bar, a business owner who is sceptical of medical science and does not plan to get vaccinated.

“So I won’t go,” she said. “And I won’t patronise certain businesses either – not because I don’t want to, but they do not want my business.”

Israel, where the vaccine rollout is fast but not mandatory, is a world leader in inoculations. Other countries are likely to scrutinise its early experience to see how it addresses mostly unanswered questions about balancing individual rights with obligations to public health.

“Whoever does not get vaccinated will be left behind,” Health Minister Yuli Edelstein warned in recent weeks.

Edelstein has made clear that newly introduced perks for the vaccinated – including access to theatres, gyms, and resort areas along the Dead Sea – are incentives to get inoculated.

But some advocates and employers are concerned that parliament has not passed any new laws regulating workers’ return to offices or offering protections for the unvaccinated, saying it will force employers to devise their own rules.

Early discussions around guidelines and legislation point to employers, authorities and courts putting public health concerns before individuals’ demands.

Intel’s Mobileye unit, in Jerusalem, says unvaccinated workers will not be allowed to come to the office as of April 4, but can work from home if their assignment allows.

The company estimates around 10% of its 1,500 employees will not get vaccinated. If they must come to the office, they will need to provide a negative PCR test taken within the prior 48 hours.

“It is our responsibility to make our offices a safe place – the greater good of our employees and their families trumps any other consideration,” Chief Executive Amnon Shashua wrote to employees in an email seen by Reuters.

CIVIL RIGHTS

A landmark study released on Wednesday showed the Pfizer-BioNTech vaccine being used in Israel cut symptomatic cases among Israeli recipients by 94%.

But some officials privately estimate that 10% of Israelis over 16 – around 650,000 people – do not intend to get vaccinated.

Even asking employees to share their vaccine status could violate medical privacy rights, some advocates say, with potential ramifications for civil liberties that may eventually be challenged in Israeli courts.

“The question is how do we reopen the market, the economy, and life, without harming people that cannot or would not get vaccinated,” said Sharon Abraham-Weiss, executive director of the Association for Civil Rights in Israel (ACRI).

“It’s the vulnerable people, those that are not unionised, or temp (workers) or others who would bear the burden,” she said, while calling for legislation.

Business leaders have also called for new laws. The health ministry did not comment when asked if legislation offering job protection to the unvaccinated was being drawn up.

Some large trade groups have begun drafting policy guidelines for members, including the Manufacturers Association of Israel, which represents 1,800 companies employing almost half a million workers.

The group’s members are “not chasing people in the street to stick some syringes in their shoulders and force them to vaccinate,” though they are doing everything they can to encourage it, the group’s president, Ron Tomer, said.

But according to a legal opinion commissioned by the group and reviewed by Reuters, members may ask employees if they were vaccinated as a “safety measure” to prevent infecting others rather than as a request for personal medical information.

Employers should take reasonable steps to allow unvaccinated staff to work from home or in separate bubbles, but those who cannot do so can be sent on unpaid leave, or, as a last resort, fired, the opinion says.

“If you don’t want to take the injection, it’s OK … the employee (has a right) to protect his privacy. But on the other side there are rights of the public, the employers, the clients – the people that we give services (to),” the opinion’s author, prominent employment attorney Nachum Feinberg, told Reuters.

Offering a potential workaround, Israel’s largest labour union, Histadrut, suggested that unvaccinated workers who cannot work at home present negative coronavirus tests to their employers every 72 hours.

‘MATTER OF PUBLIC HEALTH’

Israel on Sunday launched a “Green Pass” system granting certain privileges to citizens who have had both doses of the vaccine or have recovered from COVID-19.

In one of its first real-life applications, only those carrying a government-validated certificate were allowed to attend a small open-air concert in Tel Aviv this week.

And parliament on Wednesday passed a law allowing the health ministry to give municipalities the names of residents who have not had a shot.

ACRI has opposed the legislation, arguing it violates privacy rights.

The law faculty at the Hebrew University of Jerusalem argued in a position paper that regulating vaccination “is a matter of public health, and not a private medical issue”.

Existing Israeli laws grant the health ministry the legal authority to impose restrictions on the unvaccinated, and even to obligate vaccination in certain cases, the position paper says.

“Those who fulfil their obligation to vaccinate should not be asked to bear the cost of others choosing not to,” said David Enoch, a professor in the philosophy of law at Hebrew University.

(Reporting by Rami Ayyub and Steven Scheer; Editing by Mike Collett-White)

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Economy

TSX falls 1.35% to 18,235.73

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* The Toronto Stock Exchange’s TSX falls 1.35 percent to 18,235.73

* Leading the index were Gildan Activewear Inc <GIL.TO​>, up 15.8%, Altus Group Ltd (Ontario)​, up 12.6%, and Maple Leaf Foods Inc​, higher by 8.3%.

* Lagging shares were Ballard Power Systems Inc​​, down 9.4%, Aphria Inc​, down 8.1%, and Methanex Corp​, lower by 7.7%.

* On the TSX 62 issues rose and 157 fell as a 0.4-to-1 ratio favored decliners. There were 13 new highs and no new lows, with total volume of 230.3 million shares.

* The most heavily traded shares by volume were Manulife Financial Corp, Blackberry Ltd and Suncor Energy Inc.

* The TSX’s energy group fell 2.59 points, or 2.2%, while the financials sector slipped 4.58 points, or 1.4%.

* West Texas Intermediate crude futures rose 0.35%, or $0.22, to $63.44 a barrel. Brent crude  fell 0.22%, or $0.15, to $66.89

* The TSX is up 4.6% for the year.

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