Browsing: Wuhan

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Africa is at the heart of tomorrow, it is an important region in the world, it is definitely a growing region and a clear focus market for us. In the big picture, Africa is among Alcatel-Lucent’s most promising markets with ultra-broadband access and IP networking being very important for the development of the continent.

Many Countries across the world have felt the ravaging effects of Covid-19, ever since the first case was reported in Wuhan, China and spread all across other Continents that prompted to measures and directions imposed aimed to curb the spread of the lethal virus that has since claimed millions of people across the globe.

Historically, sectors like education and healthcare have been points of issue for many African countries, as governments strive to improve access to, and experiences in, these sectors.

The fight with COVID-19 has put a spotlight on the way these industries are operating …

Inside KQ's economy class on the NBO-NYC route. Kenya Airways has signed an agreement with Safarilink for seamless connections of travellers from international destinations. www.theexchange.africa

The airline business is becoming messier by the day as the covid-19 coronavirus continues disrupting business in a way never seen before.

From manufacturing to travel, entertainment to medicine, all sectors of the economy have been jolted by the virus whose epicentre is Wuhan, China. The disease, “a pneumonia of unknown cause detected in Wuhan, China,” was first reported to the WHO Country Office in China on 31 December 2019. From then, it has been a rollercoaster.

The real magnitude of the virus is starting to manifest with deaths, infections and isolations becoming the order of the day worldwide. While the disease in itself is not a death sentence, the fear that people may contract it en masse burdening health infrastructure in several countries has led to people isolating themselves, and observation, in what has now become the norm- social distancing.

See: Coronavirus shakes economies, world forced to change perspective

China is dominating the global creative goods and services trade beating the US and Japan and European countries like France and the UK. www.exchange.co.tz

China has become the central manufacturing hub of many global business operations and any disruption in its output is expected to have repercussions elsewhere through regional and global value chains.

With the Asian country being an important cog in the wheels of production worldwide, the outbreak of coronavirus in Wuhan has affected many companies with China’s Manufacturing Purchasing Manager’s Index (PMI), a critical production index, falling by about 22 points in February.

According to UNCTAD, this index is highly correlated with exports and such a decline implies a reduction in exports of about 2 per cent on an annualized basis.

Considerable impact on the economy and society

In other words, the drop observed in February spread over the year is equivalent to -2 per cent of the supply of intermediate goods, adds the UN’s trade body.

On February 23, 2020, China’s President Xi Jinping, in a televised address said, “It …

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On Monday, the South Africa’s rand firmed back to below the key 15.00 per dollar mark, which is mostly on profit-taking and month-end positioning after a sustaining a steep slide triggered by the Wuhan coronavirus shaking the world, Reuters reveals.

At 0700 GMT the rand was 0.43 per cent firmer at 14.9650 per dollar, having ended at 15.0300 on Friday. The coronavirus dragged the currency to its weakest level in three months—traded at 14.4800 last Monday, which was 0.59 per cent lower than its New York Close on Friday, January 24.

Reuters reported that investors concerned about the spread of the coronavirus wiped more than $400 billion off the value of China’s stocks in the first trading session in two weeks after an extended Lunar New Year break as the death toll from the epidemic rose to 361.

READ:Coronavirus and the Implications for Emerging Markets

The rand has tumbled …