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Lee suggests ensuring affordable vaccines

In his address to the ongoing 12th G20 Summit, Singaporean Prime Minister Lee Hsien Loong has put forward two suggestions on what member countries could do together, the media reported on Sunday.

The first suggestion is to ensure affordable and equitable access to vaccines, Xinhua news agency quoted The Straits Times report as saying.

Lee said that he was glad the G20 had advanced vaccine multi-lateralism by backing global initiatives such as the Access to Covid-19 Tools Accelerator and the Covid-19 Vaccine Global Access Facility.

He also said that Singapore will continue to work closely with the World Health Organization (WHO) and Coalition for Epidemic Preparedness Innovations to accelerate vaccine development and enhance long-term pandemic preparedness.

The second suggestion is to strengthen global disease surveillance networks so that the world will be better prepared for the next pandemic.

Lee said that the effectiveness of such networks depends on countries investing in their domestic surveillance and response capabilities as well as on their willingness to share information with one another.

Besides, he said that Singapore stands ready to support the G20 in its endeavours to reinvigorate multilateralism, and to create a fair, predictable and stable international order, which will allow every country, big and small, to grow and prosper.

Singapore is an invited guest country to the G20 summit this year.

Also Read-French Prez Calls For United Response To Pandemic

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UK, Canada announce interim trade agreement

Canada and Britain signed the Canada-United Kingdom Trade Continuity Agreement on Saturday as an interim post-Brexit trade agreement that will take effect on January 1, 2021 when Britain cuts its final ties to the European Union.

Canadian Prime Minister Justin Trudeau and his British counterpart Boris Johnson announced the deal at a live video news conference on Saturday, Xinhua reported.

“Now we get to continue to work on a bespoke agreement, a comprehensive agreement, over the coming years that will really maximize our trade opportunities and boost things for everyone,” Trudeau said.

“Free trade is an important part of the way that we’re going to bounce back from COVID, but I also think that Canada and the U.K. share a perspective about building back greener,” said Johnson.

The new deal will roll over the provisions in the Canada-EU Comprehensive Economic and Trade Agreement (CETA), which will no longer include Britain on January 1.

Boris Johnson

It will provide continued access to the benefits of CETA on a bilateral basis, including the elimination of tariffs on 98 per cent of Canadian products exported to the United Kingdom.

Britain is Canada’s fifth largest trading partner after the United States, China, Mexico and Japan.

Also Read-French Prez Calls For United Response To Pandemic

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French Prez Calls For United Response To Pandemic

The world needs a global, coordinated and united response to effectively fight the coronavirus pandemic, said French President Emmanuel Macron when addressing the Group of 20 (G20) Riyadh Summit.

“The DNA of the G20 is to urgently forge effective multilateral solutions to crises,” said Macron at the summit, adding that the current sanitary crisis is a test for the G20 and only a global response would be efficient in addressing the crisis.

He stressed that “the universal access to health technologies against Covid-19” is the next fight to be carried out, Xinhua reported.

“We need to avoid at all costs a scenario of a two-speed world where only the richer can protect themselves against the virus and resume normalcy,” he said.

Regarding access to the vaccine, the French president suggested the creation of a donation system for the vaccination of priority populations in developing countries.

“In times of health emergency we must promote industrial partnerships and production with developing countries,” he added. “Promote research and production capacities for health technologies, including in Africa, constitutes our best protection against future pandemics.”

The G20 groups the world’s major economies whose combined GDP accounts for over 85 percent of the world’s total.

They are widely expected to take more initiatives through closer cooperation to address the pandemic and its lasting and far-reaching impact on the world economy.

Also Read-‘Health a fundamental human right’: Mexican president

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Putin speaks against protectionism and unilateralism

Moscow, Aug. 18 (Xinhua) -- Russian President Vladimir Putin (Sputnik via Xinhua/IANS)

Russian President Vladimir Putin spoke against protectionism and unilateralism when addressing the G20 summit via video link.

“We have to tackle the urgent problems that have accumulated in international trade.

In particular, it is necessary to strive to curb protectionism, abandon the practice of unilateral sanctions, and resume supply chains,” Putin said.

He believes that there is no alternative to the World Trade Organization today, and a stable and effective multilateral trading system based on universal norms and principles is needed.

Putin said that countries need to beef up effective mechanisms of multilateral cooperation and strengthen key international institutions, while relying on the UN Charter and generally accepting norms and principles of international law, Xinhua reported.

The two-day summit is hosted by Saudi Arabia, the current president of the bloc.

Also Read-‘Health a fundamental human right’: Mexican president

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-Top News COVID-19 World News

‘Health a fundamental human right’: Mexican president

“Medical care, vaccines and medicines must be free and universally applicable, as established by Mexico’s resolution approved at the United Nations,” Lopez Obrador added…reports Asian Lite News

Health as “a fundamental human right”, should not be subject to the pursuit of profit, Mexican President Andres Manuel Lopez Obrador while addressing the G20 Summit.

“Health is a fundamental human right that the state must guarantee, putting aside the profit motive,” which has been made clear by the raging Covid-19 pandemic, Xinhua news agency quoted the President as saying on Saturday.

“Medical care, vaccines and medicines must be free and universally applicable, as established by Mexico’s resolution approved at the United Nations,” Lopez Obrador added.

In his four-minute message to the virtual summit, the Mexican leader pointed out that another lesson learned from the pandemic is that healthy eating habits should be promoted as a way to prevent disease and that those suffering from hypertension, diabetes and obesity are most vulnerable to the deadly virus.

Mexico has one of the world’s worst Covid-19 outbreaks, with more than 1 million infections and over 100,000 deaths, according to local health authorities.

Hosted by Saudi Arabia, which holds the rotating presidency of the G20, the two-day summit is focused on fighting the pandemic and recovering economic growth.

Lopez Obrador attended the summit via video link from the National Palace in the capital of Mexico City, accompanied by Foreign Affairs Minister Marcelo Ebrard, and ministers of economy, health and finance.

As of Sunday, Mexico’s overall coronavirus caseload and death toll stood at 1,025,969 and 100,823, according to the Johns Hopkins University.

Also read:Mexico reaches 100k Covid-19 deaths

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Colombian President urges all to utilise tax-free day

The Ministry of Commerce, Industry and Tourism reported initial results of a more than 30 per cent uptick in sales, which are expected to top 5 trillion pesos ($1.3 billion)…reports Asian Lite News

Colombian President Ivan Duque has urged the public to utilize the year’s third and final VAT-free Day to re-energize the country’s pandemic-hit economy.

For 24 hours, the value-added tax (VAT), which in Colombia is set at 19 per cent, was suspended on all retail sales on Saturday, reports Xinhua news agency.

“It is a very important day to reactivate our economy and to do it responsibly,” said Duque, calling on people to shop for the holidays and avoid crowds, wear face masks and maintain social distancing.

The Ministry of Commerce, Industry and Tourism reported initial results of a more than 30 per cent uptick in sales, which are expected to top 5 trillion pesos ($1.3 billion).

The previous VAT-free Days were in June and July.

The National Administrative Department of Statistics reported on Tuesday that the country’s gross domestic product (GDP) in the third quarter of 2020 dropped 9 per cent year-on-year following the Covid-19 pandemic.

As of Sunday, Colombia’s overall coronavirus caseload and death toll stood at 1,240,493 and 35,104, respectively, according to the Johns Hopkins University.

Also read:Twitter Set To Hand Over @POTUS To Biden On Jan 20

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-Top News Business COVID-19

Italy Allocates More Funds To Reboot Economy

New funds were allocated in Italy to feed existing relief measures for economic activities, as the restrictions to slow down a second wave of the coronavirus pandemic continued to be implemented across most of the country, the cabinet said.

Contained in a decree passed in the early hours of Saturday, the fresh funds amounted to 1.95 billion euros ($2.3 billion) in 2020, according to a cabinet’s statement.

Some 1.45 billion euros will be allocated as non-repayable financial aid to business activities affected by the restrictive anti-Covid measures imposed earlier this month, reports Xinhua news agency.

Another 400 million euros would go to mayors in order to implement “urgent food aid measures” to struggling households in their cities.

The remaining 100 million euros were destined to Extraordinary Commissioner for the Coronavirus Emergency Domenico Arcuri, who is in charge of the country’s national procurement process in the pandemic, for Covid-19 drug purchases.

The latest provision followed an earlier decree aimed at refunding the economic activities that were ordered to shut down during the second pandemic wave, which was worth 2.8 billion euros and entered into force on November 9.

According to the latest statistics by the Health Ministry, Italy has recorded a total of 1,308,528 Covid-19 cases since the pandemic officially broke out here in late February.

The death toll stands at 49,261.

Along with the containment measures, authorities have recently confirmed a plan for a national vaccination campaign, starting with 1.7 million people by the second half of January.

Also Read-Portugal Announces Ban On Free Movement Between Municipalities

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-Top News Saudi Arabia

Saudi to boost economy with a new national investment strategy

Khalid Al-Falih, Saudi Minister of Investment

Saudi Arabia has announced that it will launch a national investment strategy next year, according to a state media report.

Saudi Minister of Investment Khalid Al-Falih revealed in Riyadh at a media briefing ahead of the Group of 20 (G20) Leaders’ Summit that the strategy grants full ownership rights to Saudi and foreign investors, Xinhua news agency quoted the report as saying.

Despite a global pandemic, Saudi Arabia was not distracted from its strategy and Vision 2030, he said.

“In fact, we doubled down on it. We accelerated our reforms. We continued to diversify our economy, and commit our resources to make sure that Vision 2030 is not derailed by the Covid-19,” the Minister added.

He said that the strategy would ensure an increase in investment opportunities and involves the establishments of industrial cities and various economic zones.

The strategy will cover different sectors, including tourism, culture, sports, industries, Artificial Intelligence, technologies and health.

Also Read: G20 Summit: Saudi Calls For Equitable Access To Vaccines

Also Read: UAE lauds Saudi Arabia ahead of G20 summit

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-Top News COVID-19 USA

US Covid-19 cases reach 12 million

In its latest update on Sunday, the University’s Center for Systems Science and Engineering (CSSE) revealed that the country’s current caseload and death toll stood at 12,079,296 and 255,804, respectively…reports Asian Lite News

In yet another grim milestone, the total number of confirmed coronavirus cases in the US has topped the 12 million mark, according to the Johns Hopkins University.

In its latest update on Sunday, the University’s Center for Systems Science and Engineering (CSSE) revealed that the country’s current caseload and death toll stood at 12,079,296 and 255,804, respectively.

Texas reported the country’s most cases, standing at 1,117,583, followed by California with 1,098,061 and Florida with 923,418, reports Xinhua news agency.

Illinois registered 646,286 cases and New York confirmed 584,850 cases.

Other states with over 300,000 cases include Georgia, Wisconsin, Ohio, Tennessee, North Carolina, Michigan, Pennsylvania and New Jersey, the CSSE data showed.

By far, the US remains the nation worst hit by the pandemic, with the world’s most cases and deaths, making up more than 20 per cent of the global caseload.

US Covid-19 cases hit 10 million on November 9, and increased by 1 million within a week.

Starting from November 3, the number of daily cases have been surging above the threshold of 100,000, which has never been seen in past months.

On Friday, a total of 195,542 new cases were identified across the country, marking the highest daily rise in new cases since the pandemic began, according to data compiled by Johns Hopkins University.

In a scientific brief updated on Friday, the US Centers for Disease Control and Prevention (CDC) noted masks are intended to reduce the emission of virus-laden droplets, especially for asymptomatic or pre-symptomatic infected persons, who are estimated to account for more than 50 per cent of the transmissions.

As Thanksgiving approaches, the CDC released guidance on holiday celebrations.

Given the high risks of exposure to the coronavirus through travel and gathering, the safest way to celebrate Thanksgiving is to celebrate at home with the people one lives with, according to the guidance.

Gatherings with family members and friends who live in other locations can increase the chances of getting or spreading Covid-19 or the flu, the agency warned.

Some experts recommended alternative holiday plans, including outdoor gathering, virtual dinner party, online shopping and watching parades, sports events from home.

Also read:Twitter Set To Hand Over @POTUS To Biden On Jan 20

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-Top News Arab News Economy

Egypt’s Al-Sisi lauds govt’s Covid-19 economic performance

UNITED NATIONS, Sept. 25, 2019 (Xinhua) -- Egyptian President Abdel-Fattah al-Sisi attends a luncheon hosted by UN Secretary-General Antonio Guterres for the Heads of Delegation to the 74th Session of the United Nations General Assembly, at the UN headquarters in New York, Sept. 24, 2019. (Xinhua/Li Muzi/IANS)

On Thursday, IMF experts said in a statement that “the Egyptian economy has performed better than expected despite the pandemic”…reports Asian Lite News

Egyptian President Abdel-Fattah al-Sisi praised the economic performance of his government despite the impacts of the Covid-19 pandemic, commending the positive outlook of the country’s economy as stated by world financial institutions, including the International Monetary Fund (IMF).

The government’s efforts “were praised by major international financial institutions, foremost of which is the official announcement of the IMF experts that the performance of the Egyptian economy has exceeded expectations”, Sisi said in a statement on Saturday.

He hailed the ability of the Egyptian economy to deal with the pandemic, attributing it to “the accurate implementation of the economic reform program”, reports Xinhua news agency.

On Thursday, IMF experts said in a statement that “the Egyptian economy has performed better than expected despite the pandemic”.

  • Egyptian President Abdel Fattah El-Sisi

“Containment measures, supported by the authorities’ effective crisis management, and strong implementation of their policy program helped mitigate the effects of the crisis,” it added.

The IMF team said it has reached a staff-level agreement with Egypt after the first review of the country’s economic program supported by an IMF 12-month $5.2 billion loan agreement approved in June.

The team noted that a tranche of $1.6 billion will be available to Egypt after the approval of the IMF executive board.

“Continued strong program implementation, including sustained progress in key structural reforms, is vital to build resilience. This will also ensure that investors remain confident in the outlook for Egypt,” said the IMF.

It added, however, that while domestic activity shows early signs of recovery and financial market conditions have improved in Egypt, “key sectors like tourism remain at an almost standstill and risks linger particularly amid a second global wave of Covid-19 infections”.

The IMF statement also projected Egypt’s growth rate to decline from 3.6 per cent in the fiscal year 2019/20 to 2.8 per cent in 2020/21 because of pandemic-related impacts.

Before the last agreement, the IMF already provided Egypt with a three-year $12 billion loan to help the country implement an austerity economic reform program that started in late 2016, implementation of which was later described by the IMF as a success.

Also read:Nile dam row: Egypt calls for ‘binding legal agreement