Coronavirus wrap: Chinese doctor who first warned about virus outbreak dies

Coronavirus has sent ripples of fear across the world, especially in Asia. The death toll has now risen to 564 in China. Catch LIVE updates on Coronavirus outbreak

2:56 AM

Coronavirus outbreak delays Carlyle Group's Atotech IPO, says report

Buyout firm Carlyle Group Inc has delayed the U.S. initial public offering (IPO) of its German specialty chemicals group Atotech, concerned that the coronavirus outbreak would negatively impact the valuation it could achieve with investors, people familiar with the matter said on Friday.

 

Carlyle's decision highlights the uncertainty that the spread of the virus in China and around the world has brought to financial markets, with the benchmark S&P 500 Index on track for its worst week since August.

 

 

Atotech, which makes specialty chemicals and equipment for printed circuit boards and semiconductors, had planned to kick off its IPO process this week by publishing an indicated price range. Read more here

2:04 AM

Poultry prices decline amid rumours of coronavirus spreading to birds

Rumours on social media about the spread of coronavirus through birds have beaten down poultry prices, which have declined 10 per cent in the past two days owing to a sudden plunge in its demand in the country.

 

Broiler chicken per kg is now being sold to consumers at Rs 65 in Pune and Rs 72 in Delhi as against Rs 73 and Rs 80 a kg, respectively, last week. Similarly, egg prices have declined and are trading at Rs 3.75 per piece.

 

 

Since the epidemic broke out in a few cities in China and a couple of cases were spotted in India as well, there were rumours that birds were the vector. Normally mammals are possible origin of this virus, which spills over into humans. Coronavirus is feared to have originated from bats in China. Read more here

2:03 AM

US-Iran tensions, coronavirus to pull down rice exports by 20%: Report

The US-Iran standoff and the recent coronavirus outbreak in China are among factors which, it is thought, could pull down Indian rice exports by about a fifth this year.

 

Export of rice, especially basmati, to Iran was valued at $1.5 billion (about Rs 10,500 crore) in 2018-19. It accounts for 25-30 per cent of annual Indian rice shipment. Indian rice export had a compounded annual growth rate (CAGR) of nearly 14 per cent between 2010 and 2019. We account for a fourth of global rice export; it contributes two per cent to the overall Indian export basket.

 

 

However, goes a report by US-based trade finance company Drip Capital, rice export this year has fallen across the globe, with a major dip emerging from West Asia, due to geopolitical tensions. The report is based on analysis of proprietary data and on-ground conversation with exporters. Read more here

2:02 AM

Coronavirus outbreak to hit India's cumin, sesame, groundnut oil exports

With Chinese markets remaining closed amid the coronavirus outbreak, commodity exports from Gujarat, especially those of cumins, sesame seeds and groundnut oil, could take a 10-15 per cent hit over the next two months or so.

 

According to traders and exporters, China accounts for 20 per cent to 30 per cent of India’s export of some key commodities. Each of these could fall by 10-15 per cent if the current situation prevails.

 

 

Chinese markets typically remain closed in January for Chinese Lunar New Year holidays. This year, however, markets are yet to reopen amid precautionary measures in in view of the outbreak of coronavirus from Wuhan. With the Chinese administration choosing to prolong the market closure in a bid to control the outbreak, the export of various commodities from India has suffered.

 

"Usually, these holidays last for five days. But this time markets have been closed for almost a fortnight. People are also choosing to stay at home wearing masks. We are in touch with fellow commodity traders in China over video calls, but the situation seems indefinite. Exports could be take a 10-15 per cent hit," says Vijay Joshi, president of the Unjha Commodity Association. Unjha is one of the largest cumin seed hubs in the country. Read more here

11:16 PM

China's coronavirus disrupts global container shipping trade

China's fast-spreading coronavirus is throwing the global container shipping trade out of sync, with lines re-routing cargoes and reducing calls to Chinese ports, setting the scene for months of delivery delays ahead, industry sources said.

 

The spread of the deadly virus has shut down cities and factories in China and disrupted global air travel.

 

China's decision to extend its Lunar New Year holiday period until Feb. 10 has compounded logistical complications, despite its ports staying open. China is a vital link to the container sector, transporting everything from fresh food to phones and designer clothes as well as industrial parts.

 

9:26 PM

Coronavirus: 14,373 screened in Mumbai; 4 under observation

More than 14,000 passengers have undergone screening at the international airport here in nearly three weeks for the novel coronavirus after returning from China and currently four persons are under observation, said a Maharashtra health department official on Thursday.

 

He said of the four persons under observation for suspected coronavirus infection, three are at Nagpur-based Government Medical College and Hospital, while the fourth one has been admitted to civic-run Kasturba Hospital in Mumbai.

 

Swab sample test report of a person admitted at Nagpur came negative on Thursday, while the reports of the other two are expected on Friday, the official said.

 

9:25 PM

Over 2,800 under observation in Kerala for Coronavirus

Over 2,800 people are under observation in Kerala for the novel coronavirus infection and no new cases have been reported, Kerala Health Minister K K Shailaja said.

 

India's three positive cases for the virus have been reported from Thrissur, Alappuzuha and Kasaragod districts.

 

At least 2,826 people are under surveillance in the state as of Thursday, a press release quoting the minister said.

 

9:06 PM

Chinese doctor who first warned about coronavirus outbreak dies

Chinese doctor Li Wenliang, one of the eight whistle-blowers who warned other medics of the coronavirus outbreak but were reprimanded by the police, died of the epidemic on Thursday, official media reported.

 

Li, a 34-year-old doctor who tried to warn other medics of the epidemic, died of coronavirus on Thursday in Wuhan, the state-run Global Times reported.

 

He was the first to report about the virus way back in December last year when it first emerged in Wuhan, the provincial capital of China's central Hubei province. Read More

 

8:54 PM

China denounces reports of higher fatalities as coronavirus death toll rises to 564

China on Thursday denounced as "rumours and lies" the reports of a much higher death toll and infected cases in the coronavirus outbreak that it said has killed 564 people as the authorities finished work on a second hospital to treat thousands of patients suffering from the disease.

 

Overall 564 people have died in China due to the virus on Wednesday and 28,018 confirmed cases have been reported from 31 provincial-level regions, the National Health Commission reported on Thursday.

 

On Wednesday, 73 people died - the highest casualty in a single day - due to the virus and the new confirmed cases of the epidemic went up by 3,694, it added.

8:33 PM

10 Indians who sought evacuation from Hubei province failed health screening: MEA

Apart from the 647 Indians evacuated from the coronavirus-hit Hubei province in China, 10 other Indians who wanted to return were unable to do so as they could not clear the health screening, the Ministry of External Affairs said on Thursday.

 

Ministry of External Affairs Spokesperson Raveesh Kumar also said the already issued e-Visas for travel to India from China and existing normal visas are no longer valid.

7:56 PM

'Big problems' in China response to virus: HRW

Human Rights Watch on Thursday accused China of suppressing criticism of its response to the deadly novel coronavirus and said it had made the outbreak worse.

 

HRW chief Kenneth Roth also criticised the Chinese government's lockdown on various cities in an attempt to contain the virus as a "sledgehammer" approach.

 

"There have been big problems in China's response to the coronavirus that have worsened the outbreak," Roth told reporters in Geneva, although he also said China deserved credit for sharing the DNA sequence of the virus early on.

 

7:55 PM

Chinese tourists stranded in Bali over virus fears offered flights home

Thousands of Chinese tourists stranded in Bali after Indonesia suspended flights over coronavirus fears will be offered charter flights home, China's consulate on the holiday island said Thursday.

 

A diplomatic notice said Beijing was arranging flights for Friday back to Wuhan -- the epicentre of the deadly outbreak which has killed over 500 people and spread around the world.

 

Many of the marooned tourists are from the stricken city and surrounding Hubei province, the consulate said, but it added their return would be voluntary.

7:52 PM

China expected to maintain trade commitments despite virus outbreak: Mnuchin

US Treasury Secretary Steven Mnuchin said on Thursday he expected China to maintain its commitment to boost purchases of American goods and service by at least $200 billion over the next two years, despite the coronavirus outbreak that has killed hundreds and jolted the Chinese economy.

 

China made the commitment to buy the US goods as part of a Phase 1 trade deal with the United States, though a Chinese media report said Beijing was considering invoking the accord's disaster-related clause that allows for implementation delays.

 

7:42 PM

FCA CEO: China disruptions could threaten production at a European plant within 2-4 weeks

Disruptions to auto parts production caused by the deadly virus outbreak in China could threaten production at one of Fiat Chrysler Automobiles's European plants within two to four weeks, Chief Executive Mike Manley told Reuters.

 

FCA so far has not reported production shutdowns at plants outside China related to the virus outbreak.

 

7:20 PM

'We can look into it, resources permitting': MEA on evacuating Pak students

India can consider evacuating Pakistani students from the coronavirus-hit Hubei province "if such a situation arises" and resources are available, the Ministry of External Affairs said on Thursday, while making it clear that Pakistan had made no request for it till now.

 

Hundreds of stranded Pakistani students in the coronavirus-hit Wuhan city have made desperate pleas to the Imran Khan government to evacuate them from China's worst-affected Hubei province, urging his administration to take a leaf out of India's book.