Covid news live: WHO advises vulnerable or unvaccinated against travel over Omicron



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The emergence of the Omicron variant means that the Covid-19 pandemic remains the “chief source of uncertainty to the global economy and a driver of financial market volatility”, according to the ratings agency Moody’s.

Hopes that businesses might be able to return to normal operation in the coming months could be dashed by Omicron and the subsequent restrictions on travel and other freedoms already imposed by many countries around the world, the analysts said.

It could therefore increase pressure on supply chains and worsen existing shortages of labour and materials that have helped push inflation up across the world, most recently seen with Tuesday’s 4.9% inflation figure in the eurozone.


The emergence of the new variant also comes during a period of fragile economic recovery, with stretched supply chains, elevated inflation and labor market shortages,” Moody’s said.

“Business disruption resulting from the spread of the new variant could prevent supply chain stresses from easing, dampening productive capacity and stoking further cost pressures in sectors with exposure to global supply chains. On the demand side, fear of infection could prevent a large proportion of individuals from engaging in economic activity that requires close contact. Thus, demand could diminish for services ranging from hospitality to travel, at a time when holiday-related spending would usually ramp up.”

A container ship enters the Port of Los Angeles on 30 November in San Pedro, California, as analysts fear the OmicronCovid variant will increase pressure on supply chains and worsen existing shortages of labour and materials.


A container ship enters the Port of Los Angeles on 30 November in San Pedro, California, as analysts fear the OmicronCovid variant will increase pressure on supply chains and worsen existing shortages of labour and materials. Photograph: Mario Tama/Getty Images



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9.06pm EST21:06

Singapore introduces tougher testing for all arrivals

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Stock markets in Asia are mixed this morning after some big losses in Europe and Wall Street on Tuesday thanks to ongoing Omicron concerns and signals from the US Federal Reserve that it is going to wind up its massive monetary stimulus more quickly than expected.

The ASX200 in Sydney was first out of the blocks and it is down 0.83% thanks to the macroeconomic concerns, and despite a better than expected 1.9% fall in GDP in the third quarter. Forecasts had pointed to 2.7%.

The Kospi is up 1% in Seoul, however, boosted by strong exports in the third quarter, and the Nikkei is also up in Tokyo. The Hang Seng is tracking to shed 0.8%at the opening shortly so it’s a score-draw on the bourses so far.

Oil prices have also suffered because of the Omicron scare, which traders fear could jeopardise the recovery of the global economy and hurt demand. Brent crude is standing at $70.57 after falling 3.91% on Tuesday.



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US set to toughen testing requirement for all travellers

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7.59pm EST19:59

WHO advises vulnerable, unvaccinated and over 60s, against travel

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