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France, Italy, Spain are beginning to see a shocking virus attack on the economy | Instant News

France, Italy and Spain reported sharp contractions on Friday as their economies were hit hard by the corona virus, with the pandemic wiping out years of growth in a matter of weeks when the lockout closed shops, factories and restaurants.

Spain’s economy shrank by 18.5% in the April-June period from the previous quarter, the French economy by nearly 14% and Italy by 12.4%.

Spain’s contraction is by far the sharpest drop since the country’s national statistics body began gathering data. Spanish Prime Minister Pedro Sánchez met late Friday with regional leaders in Spain to discuss how to rebuild the economy and where to spread billions of euros in EU aid for recovery.

Spain in mid-March experienced closure for more than three months, stopping many economic activities, due to COVID-19 cases and soaring deaths. Lockdown ends June 21.

In France, a surprising decline of 13.8% in April-June from the previous three-month period also clearly illustrates the economic costs of the penalty of a two-month lockout. It was the third consecutive economic contraction in a worsening French recession. The pain has been so damaging to jobs and industry that the government is talking about the possibility of another national lockdown because the infection is increasing again.

The French economy had shrunk in the last quarter of 2019, before the coronavirus pandemic attacked at full strength. For France and other major economies, this caused a sharp decline.

“All the growth in GDP seen in the decade 2010-2019 has been removed in five months,” said Marc Ostwald, chief economist at ADM Investor Services International. In the case of Italy, economists say they are wiping out around 30 years of growth.

Because lockdowns have abated and many businesses have reopened, there is hope that the recession will be short-lived, although an increase in transmission in many countries remains a risk.

France fared worse than Germany, Europe’s largest economy, which on Thursday reported a 10.1% decline in GDP during the April-June period as exports and business investment collapsed. Germany’s decline is also the biggest since quarterly growth figures began to be compiled in 1970, the official statistics agency said.

In March, the health crisis prompted the French government to introduce what is one of the tighterest European stalls, stopping many activities in the second largest economy in countries that use the euro currency. In France, COVID-19 has now killed more than 30,000 people and infected more than 186,000.

In releasing gloomy numbers on Friday, Insee said the economic low was in April, when only workers who were considered important could leave their homes. Activities began to increase again from May when the authorities began to ease lockdown restrictions, Insee added.

Friday’s figures show that the construction industry is one of the hardest hit in France, because workplaces stand idle, with workers forced to stay at home.

Detained families, many of whom have survived by government grants and work preservation schemes, have tightened their wallets amid job worries but also because shops have closed. Household spending dropped 11% in April-June, following a 5.8% decline in the first quarter.

Trade was also hit, when global lockdown stopped flights, closed borders and factories, and made transportation chaotic. French imports, already down 5.5% in the first quarter, shrank further in the second quarter, down 17.3%.

The damage to exports was even worse, down by a whopping 25.5% in the second quarter after a 6.1% retreat in the first quarter.


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Pakistan sees 80pc reduction in mortality from the virus amid fears of spike ID | Instant News


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Pakistan sees less than 2000 cases of the virus within 24 hours | Instant News

Islamabad: Pakistan recorded less than 2000 new cases of coronavirus in a 24-hour period, according to official government data released Tuesday, for the first time since may 27 that were below this mark.

With a new infection, the nationwide total number of cases was higher 253,604. 50 new Covid-19-related deaths, the victims in Pakistan amounted to 5,320.

Meanwhile, the Khyber Pakhtunkhwa (KP) government announced that the province was reporting reductions in the number of coronavirus-related deaths and cases with only three deaths occurring in the last 24 hours, geo news.

The Minister of health said Imtiaz Hussein, at the time of giving updated data on the virus situation in KP, he said previously, more than 24 were killed it is reported daily in the province, but the number has decreased.

He added that the number of coronavirus victims of patients who have undergone treatment in various hospitals across the province also declined, with fewer patients, ventilators and intensive care units compared to Before.

Hussein also said that the province may see a spike in cases, if people don’t follow standard operating procedures (SOP) during Eidul Adha.


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Private hospitals refuse to reach any agreement after the government notifies the committee to refer patients to them | Instant News

Despite the fact that no agreement has yet been reached between five private hospitals in Karachi and the Sindh health department for the care of COVID-19 patients ‘critically ill but in need’ at the expense of the provincial government, the Sindh health department on Friday was formed and notified ‘referral committee’ and nominating focus people to refer COVID-19 patients to private hospitals for treatment, The News learned on Friday.

To handle the limited space for patients infected with coronavirus in government hospitals, the Sindh government has held talks with the management of five private hospitals – Liaquat National Hospital, Dr. Ziauddin Hospital, Southern City Hospital, Patel Hospital, and Altamash General Hospital – to refer to those COVID-19 patients, so government facilities have no space.

According to health authorities, the five private hospitals have established separate COVID-19 wards with high dependency units (HDU), intensive care units (ICU) and ventilators and all of these health facilities have their own laboratories for testing and diagnosis of COVID -19.

The five private hospitals, according to the government’s proposal, will treat COVID-19 patients referred by the Sindh government at the last cost. However, so far no agreement has been reached on this matter, but the health department has notified the committee to refer COVID-19 patients to this private facility.

“No agreement or memorandum of understanding (MoU) has been signed between five leading private hospitals and the Sindh health department to treat COVID-19 patients at government expense. “An MoU draft has been prepared for the agreement but we have some reservations about it, because so far there has been no progress in this regard,” said Dr Asim Hussain, chairman of Dr Ziauddin’s Hospital, when speaking with The News.

At present, only seven health facilities offer free treatment to COVID-19 patients, but all beds in their COVID-19 care ward meet capacity. The seven facilities include Jinnah Postgraduate Medical Center, Karachi General Hospital Dr. Ruth KM Pfau, Sindh Institute of Urology and Transplantation (SIUT), Dow Ojha University of Health Sciences (DUHS), Karachi Indus Hospital, Lyari General Hospital and Shaheed Mohtarma Benazir Bhutto Trauma Center.

Since the first COVID-19 case was reported in Sindh on February 26, 2020, the provincial health department has been trying to persuade private health facilities to treat COVID-19 patients in need but private hospitals do not seem to want to share the burden on the provincial government without agreements and payment of expenses in advance, arguing that it is very difficult to get bills cleared from the health department.

Expressing his ignorance of the notification about the appointment of a focus person or the constitutional referral committee by the Sindh health department, Dr. Asim said private hospitals were not satisfied with some of the conditions or clauses of the draft MoU and unless disputes were resolved. , no agreement can be reached between the provincial government and private hospitals.

“The government wants us to improve beds for their patients in high dependency units and intensive care units while we have told them that beds will only be available for their patients on condition of availability. Second, we have told them that only standard care will be offered on packages offered by the government. The cost of new and expensive antivirals and other modern medicines will not be included in this package, “Dr. Asim argues.

Under the draft MoU, private hospitals will charge the government Rs65,000 for patient care in HDU and Rs110,000 in ICU per day for the care of critically ill patients who cannot afford their own treatment.

The administration of two other private hospitals, the South City Hospital and the Liaquat National Hospital, also denied reaching an agreement with the Sindh government.

“No agreement was reached between us and the Sindh health department regarding the care of COVID-19 patients at government expense but we will not reject patients if they are referred to us by the authorities. But at this time, we are ready for capacity and do not take more COVID-19 patients, “said Chief Executive of the Southern City Hospital, Dr. Sadia Rizvi, told The News.

“I don’t know why an agreement has not been reached between a private hospital and the government because Dr Asim Hussain represents a private hospital. But we don’t reject any patients. At present, our COVID-19 ward is already crowded. We have a 27-bed COVID ward but we are adding 14 more beds to increase its capacity to 41 from Monday onwards, “Dr. Rizvi.

The Liaquat National Hospital Administration (LNH) also denied reaching an agreement with the provincial government regarding the care of COVID-19 patients, saying that they accepted all COVID-19 patients because they had increased COVID-19 care room facilities to 50. beds from 34 places sleep at first.

“We have not reached an agreement with the Sindh health department or the government for the care of patients in need at government expense but we treat patients as usual. If the government sends someone to be treated, even without any consent, we will treat the patient. We are also open to all other patients who are not infected with coronavirus and have other health problems and problems, “said Managing Director of the Liaquat National Hospital, Dr. Salman Faridi.

Minister’s version

Sindh Health Minister Dr Azra Pechuho said they were “close to reaching an agreement” with private hospitals, adding that the MoU would likely be signed on Saturday or Monday with five hospitals for the care of COVID-19 patients in need at Sindh government costs.

“The health department has formed a committee consisting of the chief technical advisor, the health secretary along with Sindh Health Commission officials and others to inspect and monitor facilities in the ‘Private Hospital Core Group’ where patients will be referred for treatment before signing an MoU with them,” Dr Azra said in response to questions about confusion over the government’s agreement with private hospitals.

Regarding the notice for the appointment of an important person and the constitutional referral committee, he said it was a draft notice, which had not been signed by the Sindh health secretary. He added that once the MoU was signed between the two parties, both key people and the referral committee would be formally notified.


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Financial Advisers Recommend Open States Safely, but Openly | Instant News

Financial Advisers Recommend Open States Safely, but Openly | RiverBender.com


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