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Mettis Global News
Mettis Global News
Mettis Global News

CPI Preview: Inflation to fall below 14% YoY in May

Coronavirus: latest developments worldwide

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Mar 03, 2020: Infections drop dramatically in China but surge abroad, the US death toll rises to six and the World Health Organization (WHO) warns we are in “uncharted territory”.

Here are the latest developments in the coronavirus crisis.

– World spread –

To date, more than 3,100 have died from the new virus, while more than 90,000 have been infected in 73 countries and territories around the world, according to AFP's latest toll based on official sources at 0600 GMT Tuesday.

Mainland China, excluding the semi-autonomous territories of Hong Kong and Macao, has 80,026 cases, including 2,943 deaths. Elsewhere in the world, 10,134 cases and 166 deaths have been recorded.

China reports an increase in cases coming from abroad, as the country where the disease first emerged now worries about importing infections.

South Korea remains the hardest-hit country after mainland China, with 4,335 cases and 28 deaths, followed by Italy (2,036 cases and 52 deaths), Iran (1,501 cases and 66 deaths) and Japan (254 cases, 12 deaths). More than 700 cases have been registered on the Diamond Princess cruise ship anchored off Japan.

In Germany the number of infected people has almost doubled over the weekend, reaching 157.

France, another coronavirus hotspot in Europe, has registered some 130 people infected since late January, three of whom have died.

The 27-nation EU raised the coronavirus risk to “moderate to high”.

Andorra, the Czech Republic, Indonesia, Portugal, Saudi Arabia and Senegal confirm their first cases.

– OECD lowers growth forecasts –

The OECD lowers its global growth forecast for 2020 by half a percentage point to 2.4 percent, the worst performance since the 2008 crisis.

In China, annual economic growth is expected to reach just 4.9 percent, a 0.8 point drop from the OECD's original growth forecasts announced last November.

EU Commissioner Thierry Breton says the EU's tourism sector has lost around a billion euros per month since January and warns of a risk of recession in Germany and Italy.

Australia's central bank slashes interest rates to a record low and says it is ready to take further action to support the economy if needed.

In the Chinese enclave of Macao, casinos announce a fall in gaming revenue of nearly 88 percent in February.

– Global measures –

In South Korea, subject to travel restrictions by more than 70 countries, dozens of major events are cancelled.

Hong Kong postpones its Vinexpo trade fair from May to July.

A sixth person dies in the northwestern US state of Washington and President Donald Trump faces criticism over his administration's preparedness.

A plane carrying UN medical experts and aid touches down in Iran on a mission to help it tackle its outbreak, as European powers say they will send further help.

The Louvre in Paris, the world's most visited museum, is closed for a second day running after staff again refuse to work.

In Israel, where legislative elections are taking place, special polling stations are set up for more than 5,000 Israelis under quarantine.

AFP/APP

Posted on: 2020-03-03T12:38:00+05:00

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