Categories
Business

Prime Minister on assessments, tracing and vaccination

Lee Hsien Loong, Singapore’s prime minister.

Roslan Rahman | AFP | Getty Images

SINGAPORE — Singapore’s Prime Minister Lee Hsien Loong said Monday that the country’s Covid restrictions may be relaxed after June 13 if the situation improves.

“Barring another super-spreader or big cluster, we should be on track to bring this outbreak under control,” he said in a televised address.

“If our situation continues to improve, and the number of community cases falls further, we should be able to relax the restrictions after 13 June,” he said.

The Southeast Asian nation saw the number of local coronavirus infections climb higher in April, and imposed tighter measures twice in May, to stem the spread of the virus.

Starting on May 8, Singapore lengthened quarantines for travelers arriving from overseas, closed indoor gyms and limited social gatherings to groups of five.

It later announced a ban on dine-in, capped public gatherings to groups of two, and said all workers who can work from home must do so from May 16 to June 13. At that time, the government said it would review the measures two weeks later.

The surge in cases also led to another delay of the travel bubble between Singapore and Hong Kong.

Singapore’s government last week warned of “heightened uncertainties” in the months ahead because of the pandemic, but maintained its growth forecast at 4% to 6% for 2021. The country’s economy grew 1.3% in the first quarter of 2021, the fastest pace in more than a year.

As of Sunday, the country reported 62,028 confirmed cases of Covid-19 and 33 deaths from the disease.

This is breaking news. Please check back for updates.

Categories
Business

Singapore faces ‘twin challenges’ from local weather change, says minister

SINGAPORE – Singapore faces two challenges from climate change and is pursuing a new coastal protection plan to preserve the island’s most vulnerable coastlines, the country’s environment minister said.

“Our dual challenges are coastal flooding … (and) extreme rainstorms, which can lead to more intense inland flooding. So we need a system that will help us address both issues,” said Grace Fu, Minister for Sustainability and the environment.

The project, launched Tuesday by Singapore’s national water agency PUB, will collect science and data on how best to mitigate and adjust coastal damage before creating a road map, Fu told CNBC’s “Squawk Box Asia” on Wednesday .

Singapore, a small Southeast Asian city-state smaller than New York City, has worked for years to protect its coastline from sea level rise and other environmental damage.

Much of the country is only 15 meters above mean sea level, with about 30% of the country less than 5 meters above mean sea level. This has prompted authorities to introduce a minimum land reclamation of 4 meters – a number that would likely soon increase to 5 meters, Fu said.

“We want to understand the effects of all of these climate scenarios on our environment, sea water levels and also the tidal differences that are coming our way,” she said.

The first region to fall under the plan will be 57.8 km of coastline stretching across Singapore’s Greater South Waterfront. These include the city’s central business district, the east coast and Changi, which is where Singapore’s Changi Airport is located.

The skyline of the financial and business center can be seen in the background as people paddle along the beach at East Coast Park in Singapore on July 17, 2020.

Facebook Facebook Logo Log in to Facebook to connect with Roslan Rahman AFP | Getty Images

Singapore’s new coastal defense strategy gives private developers an opportunity to help shape their future, Fu said.

The study starts with a $ 5 billion fund and will be carried out over the next four years by a privately owned consortium of Singaporean and Dutch consulting firms. This process will in turn open the door for other private companies to offer green solutions, Fu said.

“For the investments that the government is making, I am sure that the private sector can benefit from building and delivering the tech solutions,” she said.

“Developers along the way will have an idea of ​​the plan we are pursuing,” she said. “So if you build infrastructure, if you build buildings, if you build offices, or if you build recreational facilities, you have to build with this science, this data and these assumptions.”

The project takes place amid increasing efforts to reduce the effects of climate change around the world.

Categories
Health

Singapore’s overseas minister says Covid will not go away fully

Crowds thronged Singapore’s Orchard Road shopping belt to prepare for the festive season on December 12, 2020 amid the Covid-19 pandemic.

Zakaria Zainal | Anadolu Agency | Getty Images

SINGAPORE – Covid-19 is “permanent” and subsequent waves of infection will occur normally in the coming years, Singapore Foreign Minister Vivian Balakrishnan told CNBC.

“Covid-19 is endemic to humanity, which means it will never go away completely,” Balakrishnan told CNBC’s Squawk Box Asia on Monday.

“And the reason it won’t go away completely is because it’s spread around the world, has sufficient critical mass, the rate of mutations and new variants continues, and the level of human immunity increases and decreases as well,” said he said.

The minister, who was a doctor before entering politics, also warned that now could be a “more dangerous time” for vaccinated people who might be complacent, as well as those who are not vaccinated and have no protection against Covid.

Balakrishnan said vaccination is critical and that people who have received Covid shots develop fewer symptoms and have fewer serious illnesses, even when infected. However, vaccination alone is not the panacea for an “exponential explosion” in Covid cases.

That means measures such as social distancing and border restrictions may have to “come and go” in response to waves of Covid infection over the next two years, the minister said.

Singapore tightened social restrictions over the weekend after the number of cases increased in the community. Cumulatively, the country confirmed more than 61,300 cases and 31 deaths on Sunday, data from the Ministry of Health showed.

Balakrishnan said around 20% of Singapore’s population has been vaccinated, but the government has no defined threshold for achieving “herd immunity”. He explained that with the emergence of new variants of Covid, the level of protection required in a community will change so that the disease no longer spreads quickly.

It is likely that immunity to vaccinations will also decrease over time. So the point is, you can’t wait to say that you have reached the magical figure and suddenly you are immune and the mask has taken off and there are no restrictions.

Vivian Balakrishnan

Singapore’s Foreign Minister

“As new variants evolve and these new variants actually appear to be more contagious than the original strain, the level of herd immunity will mathematically change,” Balakrishnan said.

“It’s likely that immunity to vaccinations will also wear off over time. So the point is, you can’t expect to have reached the magical figure and suddenly be immune and mask off and not have any restrictions,” said he added.

Singapore-Hong Kong travel bubble

Singapore is a Southeast Asian city-state with no domestic air travel market. The country has reached an agreement with Hong Kong – a city that also has no domestic flight market – to create a travel bubble that will allow travelers to skip the quarantine.

When CNBC asked if the program should start on May 26th, Balakrishnan said, “As of now, the plan is yes, but we have to see how the situation develops over the next few days.”

The launch of the air travel bubble – originally scheduled for November 2020 – has been postponed several times after a surge in coronavirus cases in Hong Kong.

The two cities announced last month that the program will begin with one flight per day to each city with up to 200 travelers per flight.

Categories
Health

Germany well being minister requires lockdown, considers Russian vaccine

On Tuesday, January 12, 2021, a health care worker will take care of a Covid 19 patient in the intensive care unit of the Robert Bosch Hospital in Stuttgart. Chancellor Angela Merkel warned that Germany would face tough lockdown measures until the end of March if the authorities do not contain a rapidly spreading variant of the coronavirus.

Bloomberg | Bloomberg | Getty Images

LONDON – Germany got one step closer to the nationwide lockdown on Friday when Chancellor Angela Merkel sought to standardize the restrictions across the various states.

“The Infection Protection Act is being changed to give the state the necessary power,” said a government spokesman in Berlin on Friday.

The law update is expected to be approved by lawmakers next week, and a lockdown could be imposed shortly thereafter.

Earlier on Friday, German health officials said they were concerned about the rising coronavirus infections in the country and said a nationwide lockdown was needed to end the ongoing third wave.

Germany has faced high rates of Covid infection since last October, and despite an improvement in February, the number of new cases has increased since the end of March.

“Many citizens recognize the need to break this wave with additional measures, and the majority are in favor of stricter rules. A lockdown is needed to break the current wave,” said German Health Minister Jens Spahn at a press conference on Friday.

This third wave of the coronavirus is putting pressure on the country’s health system at a time when regional and federal governments are arguing over what to do.

“The number of intensive care patients is increasing far too quickly. Doctors and nurses have been under constant stress for months and rightly sound the alarm,” said Spahn.

“We have to break the third wave as quickly as possible. That means: reduce contacts and reduce mobility. This is the only way to prevent further increases.”

The country reported over 30,000 new Covid cases on Wednesday and around 26,000 on Thursday.

German officials disagreed on the right approach to dealing with emerging cases, while citizens were frustrated with the different regimes between different regions.

Federal Finance Minister Olaf Scholz told CNBC earlier this week: “If we could come to similar measures in all locations, this would help a lot and make it more understandable.”

The German health authorities are pushing for an increase in vaccinations in the country, which has already paid off. On Thursday, the daily vaccination count approached 720,000 compared to around 317,000 a week ago, according to the Ministry of Health.

“I think we’re going to a situation where by the end of this month it will be 4 to 5 million doses a week,” Scholz told CNBC.

Sputnik V.

At the press conference on Friday, the Minister of Health confirmed that, according to Reuters, contract negotiations are currently taking place for the purchase of the Sputnik V vaccine developed in Russia. Spahn added that there is still a question mark over whether these vaccines would be available in the coming months.

The European Medicines Agency started evaluating the Russian shot in early March and will decide whether to recommend it for use in the 27 EU member states. Although the regulator is using an urgent method to verify the effectiveness of Sputnik V, it is unclear when final approval could come.

German authorities previously announced they would consider using the Russian vaccine if the EMA concluded that the shot was effective in preventing the Covid-19 virus.

Categories
Business

Vaccines are Singapore’s precedence however will not be silver bullets, minister says

SINGAPORE – Singapore needs a “range of measures” beyond Covid vaccinations to open up its economy and allow international travel, said S Iswaran, the country’s minister of communications and information.

Some of these measures could include testing for Covid-19, he told CNBC’s “Squawk Box Asia” on Tuesday at the World Economic Forum’s Global Technology Governance Summit.

“The way we see it, this has to be a series of measures. Vaccinations are essential, but not silver bullets,” he said. “We need this to be complemented by a strong, robust test regime and effective safe management measures.”

He said such solutions are important in the future, “whether they open up the economy further” or enable cross-border activities or travel, Iswaran said.

People wearing protective masks prepare to enter a mall in the Orchard Road shopping district in Singapore.

Suhaimi Abdullah | Getty Images News | Getty Images

The minister said vaccines were a “national priority” and would help Singapore return to pre-Covid economic activity. However, this process would involve small steps over time rather than large and sudden change.

“It’s going to be more of an evolutionary than a revolutionary process,” he said.

That should be the case worldwide, he added. “The way we move forward … is measured and calibrated to allow for cross-border flows of people.”

Digital passport

We see that ultimately you need an effective vaccination program and then you need to develop mutual recognition of those vaccination programs.

S Iswaran

Singapore Minister for Communication and Information

Iswaran said vaccination records are open to interpretation and “maybe even misinterpretation”.

“The way we see it, ultimately you need an effective vaccination program, and then we need to develop mutual recognition of those vaccination programs,” he told CNBC.

This needs to be done bilaterally and multilaterally so that countries can remember to open their borders, he added.

The overall situation in a country or region will also be a factor as it affects risk perception, the Singapore minister said.

According to the Ministry of Health, transmission in the Singapore community has been low and has stabilized at around two cases per week over the past two weeks.

The Southeast Asian nation has reported 60,495 confirmed cases and 30 deaths as of April 5.

As of March 29, more than 1.3 million doses of the vaccine had been administered in the country. Around 375,605 people are fully vaccinated.

Categories
Business

AstraZeneca Covid vaccine will likely be Thailand’s ‘principal’ shot: Well being minister

A health worker holds a box of the AstraZeneneca vaccine at the Bamrasnaradura Institute for Infectious Diseases in Nonthaburi Province on the outskirts of Bangkok.

Chaiwat subprasome | SOPA pictures | LightRocket via Getty Images

The coronavirus shot developed by AstraZeneca and Oxford University will be Thailand’s “main vaccine” as the country seeks to revitalize its crucial tourism sector, the Thai health minister told CNBC on Monday.

Renewed safety concerns over the AstraZeneca-Oxford shot led countries such as Germany and the Netherlands to stop using the vaccine for those under the age of 60.

Before these final steps, several countries – including Thailand – suspended the use of the AstraZeneca vaccine after blood clots were reported in some people who received the shot. However, many lifted their suspension after the World Health Organization announced that a review of the available data found that the vaccine’s benefits outweigh the risks.

In Thailand, more than 150,000 people have been vaccinated with the AstraZeneca vaccine and the percentage of people who experienced side effects is considered “very low,” said Anutin Charnvirakul, the country’s deputy prime minister and health minister.

Anutin told CNBC’s Street Signs Asia that Thailand is waiting for further deliveries of the vaccine from AstraZeneca, which are expected to take place in June. In addition to the AstraZeneca vaccine, Thailand is also using one developed by China’s Sinovac Biotech, the minister said.

Almost 250,000 people have received Covid vaccines in Thailand since late February, Anutin said.

Attracting foreign visitors

Compared to many countries around the world, Thailand has reported relatively few Covid cases and deaths. Official data showed the country had confirmed more than 29,000 infections and 95 deaths as of Sunday.

However, the tourism-dependent economy was hit hard, shrinking 6.1% year over year in 2020 as countries restricted travel to avoid the spread of Covid-19, according to the Office of the National Council for Economic and Social Development to slow down.

Thailand is stepping up efforts to restart its tourism industry, including introducing vaccines in “significant” numbers in popular destinations like Phuket and Koh Samui, Anutin said.

“We want to make sure that our people are safe, that is our top priority. Once our people are safe, we believe that our guests, namely tourists or business people, would definitely come to visit our country,” he said Minister.

To attract visitors, Thailand has cut the quarantine period for foreigners entering the country from this month. The country is also striving to waive quarantine requirements for vaccinated foreign visitors to its largest holiday island, Phuket.

Categories
World News

Chinese language overseas minister requires ‘non-interference’ between China, U.S.

The flags of China, the United States, and the Chinese Communist Party are displayed in a flag booth in the Yiwu Wholesale Market in Yiwu, Zhejiang Province, China on May 10, 2019.

Aly Song | Reuters

BEIJING – Chinese Foreign Minister Wang Yi said Sunday the US must lift “unreasonable restrictions” in order for the two countries’ relations to move forward under President Joe Biden’s administration.

Wang’s remarks come from the fact that tensions between the US and China have escalated in recent years under former President Donald Trump, whose term of office ended in January. So far, the Biden government has maintained a tough stance on China – calling the country a more assertive “competitor” – and has raised concerns about Beijing’s stance on Taiwan, Hong Kong, Xinjiang and Tibet.

China’s central government regards these issues as part of its internal affairs.

“With regard to China-US relations, I believe that both sides must first uphold the principle of non-interference in each other’s internal affairs,” said Wang. This emerges from an official English translation of his Mandarin-language statements at a press conference that took place alongside the annual “Two Sessions” parliamentary session in Beijing, the country’s largest political event of the year.

Biden-Xi call

In a two-hour phone call with Chinese President Xi Jinping in February before the New Year holidays, Biden had expressed “fundamental concerns” about Beijing’s actions on issues such as Hong Kong, according to the White House. At the same time, the two heads of state and government also discussed how to fight the coronavirus pandemic by working together on climate change and preventing the spread of weapons.

Wang said Sunday the two countries could also work together on the economic recovery from the pandemic, citing the call as a positive foundation for rebuilding bilateral ties.

“We stand ready to work with the United States to pursue the outcome of this important phone call and to put China-US relations on a new path of healthy and steady growth,” he said.

Categories
Business

Ahmed Zaki Yamani, Former Saudi Oil Minister, Dies at 90

Ahmed Zaki Yamani, Saudi Arabia’s powerful oil minister and architect of the Arab world’s aspiration to control its own energy resources in the 1970s and later influence oil production, fuel prices and international affairs, died in London. He was 90 years old.

His death was announced on Tuesday on Saudi state television.

In a time of turbulent energy policy Mr. Yamani, a Harvard trained attorney, spoke on a world stage for Arab oil producers as the industry weathered Arab-Israeli wars, a revolution in Iran, and mounting pain. The global demand for oil brought the governments of Saudi Arabia and other Gulf states into areas of unimaginable wealth. He crossed Europe, Asia, and America to advance Arab oil interests, met government leaders, went on television, and became widely known. In a flowing Arabic robe or a Savile Row suit speaking English or French, he spread cultures, loved European classical music, and wrote Arabic poetry.

Mr. Yamani sought price stability and orderly markets in general, but is best known for imposing a 1973 oil embargo that led to rising world market prices, gasoline shortages and the search for smaller cars, renewable energy sources and independence from Arab oil.

As Saudi oil minister from 1962 to 1986 Mr. Yamani was the most powerful citizen in a kingdom that owned some of the largest oil reserves in the world. For almost 25 years he was also the dominant official of the Organization of the Petroleum Exporting Countries, whose rising and falling production quotas flew like tides through world markets.

In 1972 Mr. Yamani took control of the vast oil reserves in the Gulf of Aramco, the consortium of four American oil companies that had long exploited them. While Arab leaders called for the nationalization of Aramco – a takeover that might have cost US technical and marketing expertise and capital – Mr Yamani adopted a more moderate strategy.

As part of the landmark shareholding agreement negotiated by Mr. Yamani, Saudi Arabia received the right to acquire 25 percent of the foreign concessions immediately and to gradually increase its stake to a majority stake. Aramco continued its concessions and benefited from the extraction, refining and marketing of the oil, despite paying significantly higher fees to the Saudi government.

The deal kept the flow of oil in a dependent industrialized world and gave Arab oil producers time to develop their own technical and marketing expertise. These developments ultimately brought enormous prosperity to the Gulf States and a drastic shift in economic and political power in the region.

In 1973, after Israel defeated Egypt and Syria in the Yom Kippur War and Arab leaders demanded the use of oil as a political weapon, Mr Yamani embargoed to pressure the United States and other allies to support Israel and withdraw for Israel to withdraw from occupied Arab countries. The embargo sent shock waves around the world, ripping the North Atlantic alliance, and leaning Japan and other nations toward the Arabs.

But the United States held the line. President Richard M. Nixon created an energy tsar. Gasoline rationing and price controls were introduced. There were long lines and the occasional pump fight. While inflation persisted for years, there was a new focus on energy exploration and conservation, including a temporary national speed limit of 55 mph on highways.

Mr. Yamani, a tall man with thoughtful eyes and a Van Dyke goatee, found Westerners amiable, cunning, and tenacious.

“He speaks softly and never hits the table,” an American oil manager told the New York Times. “When the discussions get hot, he becomes more patient. In the end, he asserts himself with a seemingly sweet sensibility, but which is a kind of tenacity. “

In 1975, Mr. Yamani had two brushes by force. His patron, King Faisal, was murdered by a royal nephew in Riyadh. Nine months later, he and other OPEC ministers were taken hostage by terrorists led by Ilich Ramírez Sánchez, also known as Carlos the Jackal.

For years after the embargo, Mr Yamani struggled to curb oil prices, believing the long-term Saudi interest was to extend global dependence on affordable oil. However, the overthrow of the Shah of Iran in the Islamic Revolution of 1979 sparked an energy crisis. Iranian production collapsed, prices rose, panic buying set in, increased OPEC shares flooded the market and prices fell again.

In 1986, after a persistent global oil glut and disagreement between Mr. Yamani and the royal family over quotas and prices, King Fahd dismissed the oil minister and ended his 24 years as Saudi Arabia’s most famous nonroyal.

Ahmed Zaki Yamani was born on June 30, 1930 in Mecca, the holy pilgrimage city of Islam, as one of three children of the Islamic judge Hassan Yamani. The family name comes from Yemen, the land of his ancestors. The boy was pious and got up early to pray in front of school. He was sent abroad for higher education and graduated from King Fuad I University in Cairo in 1951. New York University in 1955 and Harvard Law School in 1956.

He and Laila Sulleiman Faidhi was married in 1955 and had three children. His second wife was Tamam al-Anbar; They were married in 1975 and had five children.

In 1958, the royal family hired him to advise Crown Prince Faisal, and his rise was rapid. In one year he was Minister of State without portfolio and until 1962 Minister of Oil. In 1963, Yamani and Aramco jointly founded a Saudi petroleum and minerals college to teach Arab students about the oil industry.

After his discharge as Minister of Oil, Mr. Yamani became a consultant, entrepreneur and investor and settled in Crans-sur-Sierre, Switzerland. In 1982 he moved to other financiers at Investcorp, a Bahrain-based private equity firm. In 1990 he founded the Center for Global Energy Research, a market analysis group in London. A biography, “Yamani: The Inside Story” by Jeffrey Robinson, was published in 1989.

Ben Hubbard contributed to the coverage.

Categories
World News

Japan Earthquake: No Deaths Reported, Prime Minister Says

TOKYO – A large earthquake shook a large area in eastern Japan with its epicenter off the coast of Fukushima late on Saturday evening, near which three nuclear reactors were melted down after a quake and tsunami almost 10 years ago.

No deaths from the quake had been reported by Sunday morning, Prime Minister Yoshihide Suga said. However, according to the state broadcaster NHK, more than 100 people were injured.

The quake left nearly one million households across the Fukushima area without power, forcing roads to be closed and trains to be suspended. While residents braced themselves for aftershocks, a landslide cut off part of a main artery through Fukushima Prefecture.

Japan’s weather service reported the magnitude of the quake at 7.3 versus its initial 7.1 rating, but said there was no risk of a tsunami.

A little less than a month before the 10th anniversary of the so-called Great Earthquake in eastern Japan and the Fukushima nuclear disaster, the quake struck an area that stretched from Hokkaido to the Chugoku region in western Japan.

Greater Tokyo felt the quake for about 30 seconds from 11:08 p.m., but the tremors were felt most in Fukushima and Miyagi.

The quake was a disturbing reminder of the far more powerful 8.9 magnitude earthquake and tsunami that devastated Japan in 2011, killing more than 16,000 people. After the subsequent nuclear disaster in Fukushima, 164,000 people fled or were evacuated from the vicinity of the plant.

In comments following a meeting on the Sunday morning quake, Mr Suga warned residents to be prepared for aftershocks and take precautionary measures.

“Please remain vigilant for the possibility of other similar sized earthquakes for the next week,” he said, adding, “Don’t be negligent.”

The quake on Saturday happened as Tokyo and nine other major prefectures are in a state of emergency to contain the coronavirus. Residents are encouraged to work from home and not go out at night, while restaurants and bars close at 8 a.m. each evening.

Japan is also preparing to host the Summer Olympics, which will be postponed for a year from 2020. The games are scheduled to open on July 23.

In response, the authorities are precisely mobilizing the nuclear power plants.

The prime minister’s office immediately set up a crisis management office, and Tokyo Electric Power Company, or Tepco, which maintains the disabled nuclear power plants, said they are checking their surveillance posts in Fukushima to make sure there are no radiation leaks.

Shortly after midnight, the public broadcaster NHK reported that Tepco had not found “no major anomalies” in any of the Dai-ichi reactors where the 2011 meltdown occurred, or at the Dai-ni plant in Fukushima a few miles away.

Early Sunday morning, Tepco said it found water in some of the pools that store spent fuel spilled on the pool decks in the reactors at both the Dai-ichi and Dai-ni plants. But Tepco said no water leaked outside of the reactors.

Tepco also reported that some small leaks from a tank filled with contaminated water had occurred on the Dai-ichi site, but the leak was contained in a small area.

The Kashiwazaki-Kariwa nuclear power plant on the west coast did not suffer any damage, reported NHK.

According to Katsunobu Kato, Chief Cabinet Secretary of Prime Minister Yoshihide Suga, around 950,000 households in the affected areas were without electricity. He said that two thermal power plants in Fukushima Prefecture had gone offline. Several high-speed trains were suspended. People in dozens of households have been evacuated to shelters in several cities in Fukushima.

In brief comments to reporters just before 2 a.m., Mr. Suga advised residents not to go outside and prepare for aftershocks.

Aftershocks: What the hours and days can hold before us.

Takashi Furumura, professor at the Tokyo University Earthquake Research Institute, warned in a lecture on NHK that a quake of this size could be followed by a quake of similar magnitude within two or three days.

The Japan Meteorological Agency said the epicenter of the quake was about 60 kilometers off the coast of Fukushima and about 34 miles deep. On land the strongest strength was 6 plus.

Speaking at a press conference, Meteorological Bureau official Noriko Kamaya said residents should be prepared for magnitude 6 aftershocks in the coming days. She described the Saturday night earthquake as an aftershock of the 2011 quake.

In Minami Soma, one of the villages in Fukushima evacuated after the 2011 nuclear disaster, NHK reported that violent tremors lasted about 30 seconds on Saturday.

Yu Miri, the author of Tokyo Ueno Station, winner of the National Book Award for Translated Literature, posted photos on Twitter of shabby bookshelves in her nearby house and the floors littered with books.

Kyodo News reported that 50 people were injured in the Fukushima and Miyagi areas of the east coast of Japan.

Japan has had a history of devastating earthquakes.

Around a dozen powerful earthquakes have struck Japan in the past decade, some of which triggered tsunamis and landslides that shook parts of the country and destroyed countless buildings.

In 2016, more than 40 people died after two earthquakes hit the southern island of Kyushu. The largest of the two recorded a magnitude of 7.0, close to the intensity of Saturday’s quake, and several died in fires and landslides in the mountainous area.

In 2018, tens and millions died in their homes after a powerful quake caused landslides on the north island of Hokkaido. This summer’s quake came just days after Japan’s largest typhoon in 25 years.

Makiko Inoue, Hisako Ueno, Hikari Hida and Elian Peltier contributed to the coverage.

Categories
Health

Thailand finance minister on vaccine rollout, tourism restoration

SINGAPORE – Thailand will receive its first batch of vaccines next month and plans to produce its own vaccines, according to finance ministers.

Initially, about 100,000 cans will arrive, Arkhom Termpittayapaisith told CNBC’s “Squawk Box Asia” on Friday.

“The first vaccines will be coming to Thailand next month, the first lot,” he said, adding that Thai company Siam Bioscience will be working with Anglo-Swedish pharmaceutical company AstraZeneca to develop vaccines that will be useful for both Thailand and other countries are available.

He spoke to CNBC as part of the coverage of the World Economic Forum’s Davos agenda.

Thailand will begin rolling out vaccines on Feb. 14 and intends to vaccinate 19 million people in the first phase, its prime minister said on Wednesday, according to a Reuters report.

The Southeast Asian nation has According to the report, 26 million cans of AstraZeneca to be made by Siam Bioscience and 2 million cans of China’s Sinovac were secured. It has also reserved 35 million cans from AstraZeneca, it added.

Pandemic meets tourism

Termpittayapaisith also said tourism is expected to recover by the end of the year rather than mid-year as forecast. The Thai economy relies heavily on tourism for its growth, but the arrivals of foreign tourists almost completely stalled during the pandemic.

Tourist arrivals fell 66% to 6.69 million in the first six months of 2020 as countries around the world imposed bans and travel restrictions due to the pandemic.

By comparison, Thailand had a record 39.8 million tourists in 2019, according to Reuters. Tourist spending represented around 11% of Thailand’s GDP that year, the report said.

Commuters wearing face masks wait for a canal boat in Bangkok on March 2, 2020.

MLADEN ANTONOV | AFP | Getty Images

“We’re also focusing on domestic consumption so you can see that the economic package … encourages more spending on the basic economy,” Termpittayapaisith said, adding that it aims to offset the decline in international tourism revenue.

Thailand lowered its forecast for economic growth for this year from 4.5% to 2.8% on Thursday. According to the central bank, the economy is expected to shrink by 6.6% in 2020.

The country reported a record 959 cases on Tuesday, the highest daily increase since early January when it accelerated its testing, according to Reuters.

Thailand has one of the lowest reported cases in Southeast Asia. So far, 17,023 cases and 76 deaths have been reported, according to the Johns Hopkins University.