Rates to stay low ‘for decades’: RBA

Original article by Cliona O’Dowd
The Australian – Page: 19 & 29 : 14-Feb-20

Reserve Bank governor Philip Lowe has conceded that the coronavirus outbreak is likely to have a near-term impact on the economy, although he does not expect the outlook for 2020 to be significantly affected. He adds that the Australian economy will benefit from stimulus measures in China when the virus is brought under control. Lowe has also warned that climate change has ‘profound’ economic implications for Australia, while he says official interest rates may remain low for a long time.

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RESERVE BANK OF AUSTRALIA

Bali tourist tests positive to coronavirus as more than 14,000 new cases confirmed

Original article by
The New Daily – Page: Online : 14-Feb-20

The global death toll from the coronavirus has risen to 1,369; Japan has reported its first death from the respiratory illness, and more than 60,000 people worldwide have now been infected. An additional 14,840 cases of the virus have been reported in the Chinese province of Hubei, after health officials changed the methodology for diagnosing the illness. Meanwhile, a Chinese national who has returned to Shanghai after holidaying in Bali recently tested positive to the disease.

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Travel bans set to knock $6bn from economy

Original article by Richard Ferguson
The Australian – Page: 7 : 13-Feb-20

Investment bank UBS expects Australia to record negative GDP growth in the March quarter, due to the introduction of travel bans in response to the coronavirus. UBS economist George Tharenou warns that annual growth could fall by about 0.9 per cent, which equates to a $6bn economic hit. The federal government’s national security committee will shortly decide whether to extend the ban on people travelling to Australia from mainland China; the ban has affected sectors such as education, tourism and retailing.

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UBS HOLDINGS PTY LTD

Virus slows Rio Tinto copper sales

Original article by Peter Ker
The Australian Financial Review – Page: 17 : 13-Feb-20

The Oyu Tolgoi copper mine is located in the Khanbogd province, where the Mongolian government has declared a state of emergency due to the coronavirus. Rio Tinto has advised that Mongolia’s efforts to contain the virus’s spread will result in shipments of copper concentrate being delayed. The mine’s output is usually shipped across the border to China via trucks. BHP also recently advised that its copper shipments to China may be delayed, while OZ Mineral has indicated that it has not yet been impacted by the coronavirus outbreak.

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RIO TINTO LIMITED – ASX RIO, BHP GROUP LIMITED – ASX BHP, OZ MINERALS LIMITED – ASX OZL

Virus may rank among worst

Original article by Natasha Robinson
The Australian – Page: 7 : 13-Feb-20

The death toll from the coronavirus in mainland China has risen to 1,113, and more than 44,000 people across the nation have been diagnosed with the respiratory illness. Meanwhile, epidemiologists at the Imperial College London have estimated that the new virus will kill one per cent of people who contract it. In contrast, World Health Organization figures show that seasonal influenza kills about 0.13 per cent of sufferers. Professor Neil Ferguson of the Imperial College says the coronavirus may prove to be as bad as the major influenza pandemics of the 20th century

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IMPERIAL COLLEGE, WORLD HEALTH ORGANIZATION

Westpac lifeline for virus-plagued customers

Original article by Glenda Korporaal
The Australian – Page: 19 : 12-Feb-20

Westpac has revealed details of its support package for businesses that have been impacted by the coronavirus. Amongst other things, it will allow business loan repayments to be deferred for up to three months, while businesses will also be able to extend their loans for up to three months. Westpac offered similar relief to bushfire victims. Businesses across the economy have been impacted by the virus outbreak, including tourism operators and fresh food exporters.

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WESTPAC BANKING CORPORATION – ASX WBC

Coronavirus disease named Covid-19

Original article by
bbc.com – Page: Online : 12-Feb-20

The death toll from the coronavirus on mainland China has risen to 1,017, and more than 42,000 people in China have been diagnosed with the respiratory illness. In its latest response to the coronavirus outbreak, the Chinese government has sacked two of the most senior officials at the Hubei Health Commission. Meanwhile, the World Health Organization has announced that the coronavirus has been officially designated Covid-2019. WHO’s Director-General Tedros Adhanom Ghebreyesus has praised China’s efforts to contain the virus and expressed optimism that action to limit its spread globally will be effective.

CORPORATES
WORLD HEALTH ORGANIZATION

Australia prepares to extend China travel ban due to coronavirus

Original article by Eryk Bagshaw
The Age – Page: Online : 11-Feb-20

The federal government’s 14-day travel ban on non-citizens entering Australia from the Chinese mainland will expire on 15 February, and sources have indicated that it is likely to be extended. The move will prevent about 56 per cent of the Chinese students at Australian universities from arriving in time for the start of the academic year. Meanwhile, more than 100 Australian citizens and permanent residents are still in Hubei province, but the government has no plans for a third evacuation flight.

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New study an eye-opener on how coronavirus is spreading and how little we know

Original article by Tom Frieden
CNN.com – Page: Online : 9-Feb-20

A study published in the medical journal ‘JAMA’ confirms that like coronaviruses in the past, the Wuhan coronavirus appears to be spreading in hospitals. The study reported that 41 per cent of the first 138 patients who were diagnosed with the latest coronavirus in one Wuhan hospital appeared to have been infected in that hospital. It reveals the need for better protection of health care workers and others who care for the sick, while more needs to be known about how widely the virus is circulating, the proportion of those infected who are seriously ill, and whether the epidemic has peaked.

CORPORATES

Home from Hubei, evacuees set up camp

Original article by Paige Taylor, Robyn Ironside
The Australian – Page: 2 : 10-Feb-20

The global death toll from the coronavirus has risen to 813, surpassing the 774 casualties of the SARS outbreak of 2002-03. More than 37,000 people worldwide have been diagnosed with the respiratory illness, including 15 in Australia. Meanwhile, a chartered Qantas flight has evacuated another 266 Australian citizens and permanent residents from Wuhan. They will be placed in quarantine at a former mining workers’ camp near Darwin for 14 days, as the Christmas Island facility has reached capacity.

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QANTAS AIRWAYS LIMITED – ASX QAN