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Island in middle of Atlantic close to COVID-19 herd immunity

LISBON — The small, lush green Portuguese island of Corvo, home to around 400 people, has vaccinated most of its population against coronavirus disease 2019 (COVID-19) and will soon reach herd immunity, according to its only doctor.

“There’s an atmosphere of celebration in Corvo,” Dr. Antonio Salgado told the Lusa news agency.

He said the vast majority of the island’s residents were likely to become immune by the end of the month, adding: “From now on, we will feel safe.”

Authorities in Corvo, the smallest island of the Azores archipelago, on Friday finished vaccinating 322 people with a second dose of a COVID-19 vaccine. That is about 85% of the island’s population and 95% of those eligible to receive shots.

Herd immunity happens when enough people in a population have immunity to an infection to be able to effectively stop that disease from spreading. Experts say it could kick in when between 50% and 70% gains immunity through vaccination.

The island, an area of only just over 17 square kilometers with sheer cliffs running along the coast and a volcanic crater lake, has reported only one coronavirus case since the start of the pandemic.

The Azores’ regional government decided to include all those aged over 16 in Corvo’s first phase of the vaccination roll-out because of the island’s characteristics, such as the small size of its population and the fact it only has one health center.

Gustavo Borges, Azores’ COVID-19 coordinator, told Publico newspaper he believed Corvo was the first place in Europe to carry out a “mass vaccination of the entire population.”

“Having 85% of people vaccinated is a milestone,” he said. — Reuters

North Korea unresponsive to behind-the-scenes Biden administration outreach

REUTERS

WASHINGTON — North Korea has not responded to behind-the-scenes diplomatic outreach since mid-February by President Joseph R. Biden’s administration, including to Pyongyang’s mission to the United Nations, a senior Biden administration official told Reuters on Saturday.

The disclosure of the so-far unsuccessful US outreach, which has not been previously reported, raises questions about how Mr. Biden will address mounting tensions with Pyongyang over its nuclear weapons and ballistic missile programs.

It also adds a new dimension to a visit America’s top diplomat and defense secretary will make next week to South Korea and Japan, where concerns over North Korea’s nuclear arsenal are expected to be high on the agenda.

The senior Biden administration official, speaking on condition of anonymity, offered few details on the diplomatic push. But the official said there had been efforts to reach out to the North Korean government “through several channels starting in mid-February, including in New York.”

“To date, we have not received any response from Pyongyang,” the official said.

North Korea’s mission to the United Nations did not immediately respond to a request for comment.

The Biden administration has so far been cautious in publicly describing its approach to North Korea, saying it is carrying out a comprehensive policy review following former President Donald Trump’s unprecedented engagement with North Korean leader Kim Jong Un.

Mr. Trump’s efforts failed to persuade North Korea to give up its nuclear weapons.

The Biden administration official said it appeared there had been no active dialogue between the United States and North Korea for more than a year, including at the end of Mr. Trump’s administration, “despite multiple attempts during that time by the United States to engage.”

The US official declined to speculate about how the silence from Pyongyang would impact the Biden administration’s North Korea policy review, which was expected to be completed in the coming weeks.

During his election campaign, Mr. Biden described Mr. Kim as a “thug” and said he would only meet him “on the condition that he would agree that he would be drawing down his nuclear capacity.”

US Secretary of State Antony Blinken has held out the possibility of additional sanctions, in coordination with allies, to press North Korea to denuclearize.

Sanctions have so far failed to convince Kim to give up his nuclear weapons.

Mr. Blinken is slated to host the first face-to-face discussions between senior Biden administration and Chinese officials on Mar. 18 in Alaska. The Trump administration accused China of failing to enforce sanctions against North Korea.

A confidential UN (United Nations) report found that North Korea maintained and developed its nuclear and ballistic missile programs throughout 2020 in violation of international sanctions, helping fund them with some $300 million stolen through cyber hacks.

The report by independent sanctions monitors said Pyongyang “produced fissile material, maintained nuclear facilities and upgraded its ballistic missile infrastructure” while continuing to seek material and technology for those programs from abroad. — Reuters

Japan leaning towards ending Tokyo state of emergency on March 21

TOKYO – Japan’s government is leaning towards ending a state of emergency for Tokyo and surrounding areas over COVID-19 as scheduled on March 21, the Sankei newspaper reported on Sunday.

The government is expected to make its decision at a meeting with advisers on March 18, Sankei reported. Calls to the prime minister’s office were not answered.

The number of hospital beds in use to treat COVID-19 patients is falling gradually, which is justification to end the state of emergency as scheduled, the Sankei said, citing an unnamed government official.

Restrictions such as shorter business hours for restaurants and bars have helped reduce new daily cases in Tokyo to roughly a tenth of a peak of 2,520 on Jan. 7, but the number of new infections in Tokyo has been creeping up in recent days, raising concerns that the state of emergency might be extended.

There is growing consensus among government officials and advisers, though, that even if the state of emergency is kept in place it would not lead to a further improvement in the number of infections, the Sankei said, citing an unnamed member of the government’s advisory panel.

The Japanese government extended the emergency declaration for Tokyo and three neighbouring prefectures on March 5 by 14 days, saying COVID-19 cases hadn’t fallen far enough and that new, more infectious coronavirus variants posed a threat.

Japan is trying to bring coronavirus cases under control and get vaccinations well under way as it prepares to host the delayed Summer Olympics, now scheduled to start on July 23.

Japan has so far recorded 446,923 coronavirus cases and 8,573 deaths. – Reuters

Singapore PM says may reopen borders by year-end

SINGAPORE – Prime Minister Lee Hsien Loong said in a TV interview he hoped Singapore would start re-opening its borders by the end of the year as more countries ramp up vaccination drives against COVID-19 infections.

The Southeast Asian island nation has largely banned leisure travel, but has put in place some business and official travel programs. It is also discussing the mutual recognition of vaccine certificates with other nations.

“I hope if that many countries can have substantial proportions of their populations vaccinated by later this year, we will be able to have the confidence and to have developed the systems to open up our international borders to travel safely again,” Mr. Lee said in an interview with BBC that aired on Sunday.

“Hopefully by the end of this year or next year, the doors can start to open, if not earlier,” he said.

The city-state has brought its COVID-19 situation under control with few new local cases and has been rolling out its vaccination program, having approved shots from Pfizer-BioNTech and Moderna.

As of March 8, the country of 5.7 million people had administered just over 611,000 doses of vaccines – a much slower pace compared to larger nations. But it has said it plans to vaccinate everyone by year-end.

Lee said few local cases meant the city-state could take the time to persuade its population to take the vaccine. Some are hesitant due to the low risk of infection and concern about possible side effects from rapidly developed vaccines.

Singapore has also received China’s Sinovac Biotech vaccine ahead of approval. Lee said Singapore was evaluating the vaccine and will use it if it passes safety and effectiveness standards.

The city-state’s small, open economy recorded its worst recession in 2020 due to the pandemic, after being bruised the previous year by trade tensions between the United States and China. – Reuters

Mang Inasal founder gears up to deliver another hot Philippine IPO

A Philippine tycoon whose two previous initial public offerings flew off the shelves against all odds, could deliver another winner this month, if history is any guide.

Edgar ‘Injap’ Sia’s grocer MerryMart Consumer Corp. defied a market slump when it jumped 50% in its June debut amid the global pandemic, matching the gain of his DoubleDragon Properties Corp. in 2014. His DDMP REIT Inc.’s IPO of up to 14.7 billion pesos ($303 million) will take the spotlight on March 23 when the shares become the first of 2021 to list on the nation’s bourse.

“It could fly because of its affordable price and attractive yield,” said Claire Alviar, an analyst at PhilStocks Financial Inc. “Investors also like DDMP because Sia’s previous IPOs performed well.”

DDMP’s IPO comes as the Southeast Asian economy reels from a virus-induced recession and a battered stock market under siege from a foreign investor exodus. It’s the nation’s second real estate investment trust to go public. AREIT Inc., the first, slid 7.8% on its debut in August.

For the 44-year old college dropout who built a $100 million barbecue chicken restaurant chain in just seven years, Sia’s knack of attracting investors will be tested again. MerryMart shares have surged 400% from its IPO price, while DoubleDragon has soared more than 600% since its 2014 debut.

Sia said in November that DDMP will be a “compelling REIT” and a good stock to give as “inheritance” because it owns the land where its leasing portfolio is built, which should “keep on appreciating decade after decade.”

DDMP, which owns offices carved out of DoubleDragon, was priced at the top end of its target range, indicating strong demand. Brokers like AP Securities Inc., Papa Securities Corp. and PhilStocks Financial had their allocations already fully taken up even before the sale started.

The IPO price of 2.25 peso a share offers a yield of 5.07% and 5.45% based on its 2021 and 2022 projected dividend per share, according to its prospectus. That’s a premium to the 10-year Philippine government bond’s 4%.

DDMP’s yield is comparable to AREIT and above average, but lower than the average of the top five dividend-paying stocks, said Kerwin Chan, an analyst at COL Financial Group Inc.

Shares of DoubleDragon, which will get the bulk of the IPO proceeds, rose as much as 1.4% before swinging to a 0.4% loss in Manila trading. MerryMart, a client for DoubleDragon’s warehouse and logistics venture, advanced as much as 3.7%.

While there is strong interest in DDMP, its outlook is not without risks, said Rachelle Cruz, analyst at AP Securities.

Its large exposure to offshore gaming operators and gaming-related companies makes it sensitive to any unfavorable developments to the industry, she said. Also, “investors should consider the size of the offering, this is bigger than MerryMart and DoubleDragon,” she added. – Bloomberg

Philippines detects Brazil, local COVID-19 variants as cases surge

MANILA – The Philippines on Saturday reported a spike in coronavirus infections and its first case of the highly contagious variant first identified in Brazil, while confirming nearly 100 infections of a new variant discovered locally.

A Filipino returning from Brazil tested positive for the P.1 Brazil variant after 752 samples were sequenced at the genome centre, the health ministry said in a statement.

It also reported that 98 cases were of the similar P.3 variant first detected in the Southeast Asian country early this month.

The ministry reported 5,000 new coronavirus cases, the largest single-day increase in more than six months, and 72 additional deaths. Confirmed cases have increased to 616,611 while confirmed deaths have reached 12,766.

“At present, the P.3 is not identified as a variant of concern as current available data are insufficient to conclude whether the variant will have significant public health implications,” the ministry said.

It reported 59 new infections of the B.1.1.7 variant first detected in Britain, and 32 cases of the B.1.351 variant discovered in South Africa. This brings cases for those variants to 177 and 90, respectively.

“Correct and consistent adherence to the minimum public health standards will prevent the transmission of these variants,” the ministry said.

The Philippines, which has the second-highest COVID-19 cases and deaths in Southeast Asia, is battling a renewed surge as it ramps up a vaccination drive that started on March 1. – Reuters

Philippines to continue AstraZeneca rollout

The Philippine government would continue to roll out AstraZeneca vaccines even after some European countries suspended its use due to some supposed health risks, according to the Department of Health (DoH).

In a joint statement, DoH and the Food and Drug Administration (FDA) said it was aware of the decision, which it said was a precautionary measure pending investigation.

“The DOH and FDA emphasize that there is no indication for the Philippines to stop the rollout of AstraZeneca vaccines,” they said.

Health authorities were closely coordinating on the matter, they said. “The public is assured they will closely monitor all deployed vaccines.”

They also said the vaccine’s benefits continue to outweigh the risks. The vaccine could still be given while investigation is ongoing, the agencies said, citing the European Medicine Authority.

The European agency said there was no indication that the vaccination had caused blood clots, which are not among its listed side effects.

Denmark, Norway and Iceland on Thursday suspended the use AstraZeneca vaccines due to blood clots in some people who got the vaccines, Reuters reported.

The Philippines got 525,600 doses of AstraZeneca vaccines this month under a global initiative for equal access.

WHO Country Representative Rabindra Abeyasinghe last week said the Philippines would get 4.58 million AstraZeneca vaccines by May under the facility.

Health Undersecretary Maria Rosario S. Vergeire on Friday said 114,615 people had been vaccinated as of Mar. 10. Of total, 101,827 were inoculated with CoronaVac from China and 12,788 were vaccinated with AstraZeneca, she told an online news briefing.

TALLY

DoH reported 4,578 coronavirus infections on Friday, bringing the total to 611,618. It was the biggest daily tally since Sept. 14 when the agency reported 4,699 cases, according to past health bulletins.

The death toll rose by 87 to 12,694 while recoveries increased by 272 to 546,912, it said in a bulletin.

There were 52,012 active cases, 92.2% of which were mild, 4.1% did not show symptoms, 1.5% were critical, 1.5% were severe and 0.71% were moderate.

The Health department said eight duplicates had been removed from tally, while 26 recoveries were reclassified as deaths. Five laboratories failed to submit data on March 11.

About 8.6 million Filipinos have been tested for the coronavirus as of Mar. 10, according to DoH’s tracker website.

Meanwhile, presidential spokesperson Harry L. Roque, Jr. told a separate online briefing an inter-agency task force had approved a DoH recommendation to strengthen the enforcement of health protocols.

The task force approved Resolution 102, which also urged local governments to look for all suspected cases and have them tested and isolated within 24 hours.

They were also told to monitor workplaces and closed settings and ensure the proper handover of returning overseas Filipinos to them.

Party statement on Duterte for VP unauthorized — Pacquiao

President Rodrigo R. Duterte’s political party Partido Demokratiko Pilipino-Lakas ng Bayan on Friday said it did not authorize a resolution urging him to run for vice president next year.

“I did not sanction it,” Senator Emmanuel D. Pacquiao, acting national president of the party, said at an online new briefing in Filipino.

He added that the party would prioritize helping the poor now over politics.

A PDP-Laban resolution signed by some members urged Mr. Duterte to run for vice president in the 2022 elections.

Mr. Pacquiao said the party’s lineup for the 2022 national elections had not been discussed. He urged the members of the party to “focus more on the opportunity to serve.” — Vann Marlo M. Villegas

SC upholds dismissal of Arroyo’s 2016 graft case

The Supreme Court has upheld a 2016 decision by the Sandiganbayan to dismiss graft charges against former President Gloria Macapagal Arroyo in connection with a $329-million national broadband network project with Chinese company ZTE Corp.

In a resolution issued on Oct. 14 and made public on Thursday, the high court rejected the petition filed by state prosecutors to overturn the anti-graft court’s ruling for lack of merit.

The court said the petition violated Ms. Arroyo’s “constitutional right against double jeopardy” or a person’s right not to be tried twice for the same crime.

The Sandiganbayan In 2016 ruled the prosecution had failed to prove any direct or indirect interest for personal gain on Ms. Arroyo’s part during deliberations on the national broadband deal.

The high tribunal said prosecutors failed to prove that the anti-graft court had gravely abused its discretion in dismissing the corruption case. — Bianca Angelica D. Añago

AMLC clarifies rules on terrorist delisting

People whose request for delisting from the Anti-Terrorism Council (ATC) got rejected can’t file another request within six months, according to the Anti-Money Laundering Council (AMLC).

Republic Act 11479 or the Anti-Terrorism Act of 2020 requires the listing of people and entities designated as terrorists by the council. They can request for delisting on certain grounds.

“A request for delisting may be filed as often as the grounds therefore exist,” AMLC said in a posting on Friday, citing its own rule. “However, no request for delisting may be filed within six months from the time of denial of a prior request for delisting.”

The grounds for delisting include mistaken identity, change of facts or circumstances, newly discovered evidence and death of a designated person and dissolution of designated group.

Targeted financial sanctions prevent people or groups designated as terrorists from accessing their funds and assets. — Beatrice M. Laforga

Solane seizes P113,000 of illegal LPG tanks

Liquid petroleum gas (LPG) supplier Solane seized P113,480 worth of illegally refilled tanks and other items in two Albay municipalities last month, the brand said through its public relations agency on Friday.

It confiscated 48 LPG tanks in Libon and Polangui, Albay in two operations, it said in a statement issued by Rebel Marketing, the PR agency for Solane LPG under Isla LPG Corp.

Forty-four illegally refilled tanks worth P110,000, a marked P1,000 bill and a transaction receipt worth P860 were seized in Libon on Feb. 5. On the same day.

Solane also seized four illegally refilled Solane cylinders, a P1000 marked bill, a transaction receipt of P870 and other pieces of evidence worth P3,480 in the village of. Magurang in Polangui.

Solane asked consumers to report counterfeit LPGs to protect their lives and homes. Illegally sourced tanks may leak that could lead to fires and explosions, it added.

The LPG supplier said the public should only buy verified Solane tanks from authorized dealers. A verified Solane tank has the exact amount of pure LPG, with about 11.5 to to 15 kilos depending on the valve used.

Each verified Solane tank is protected against leakages and is thoroughly inspected from production to distribution, it added. — Angelica Y. Yang

January exports shrink as recession bites

Philippine exports shrank in January after rising in the previous two months, while imports continued to decline for the 21st month, the Philippine Statistics Authority (PSA) said on Friday.

Merchandise exports shrank by 5.2% to $5.49 billion in January from 9.4% growth a year earlier, according to preliminary data. Exports grew by 1.7% in December.

Imports also fell by 14.9% to $7.911 billion in January, worse than the declines of 8.2% and 2.8% in December and January 2020, respectively.

These figures were below the Development Budget Coordination Committee’s growth targets of 5% and 8% for exports and imports this year.

The latest trade figures brought the trade balance to a $2.421-billion deficit in January, wider than the $2.149-billion gap in December, but narrower than the $3.504-billion shortfall in January last year.

Total external trade in goods for the year — the sum of exports and imports — shrank by 11.1% to $13.401 billion.

Export sales growth for manufactured goods, which made up 85.7% of the total in January, was flat at 0.02% to P4.704 billion.

Exports of electronic products, which accounted for 59.1% of the total, inched up by 0.3% to $3.244 billion. This was despite a 4.4% drop in semiconductors, which made up almost three-quarters of electronic products,
Agriculture-based exports slumped by 22.7% to $332.56 million versus $430.12 million a year earlier.

Meanwhile, imported raw materials and intermediate goods declined by 9.2% to $3.197 billion. These made up 40.4% of total imports.

Capital goods, which accounted for a third of January imports, fell by 14.8% to $2.590 billion from a year earlier. Imports of mineral fuels, lubricant and related materials dropped by a third to$681.74 million.

Nicholas Antonio T. Mapa, senior economist at ING Bank NV Manila Branch, described the country’s trade performance as “more of the same,” with the economy stuck in a recession.

“The poor showing of exports related to food manufactures is tied to recent storm damage that hurt crop production” that weighed on economic growth in the fourth quarter, he said in an e-mailed note.

The Philippine economy shrank by 9.5% last year amid a coronavirus pandemic, the worst since World War II.
“The ongoing slump in imports suggests that growth pains for the Philippines will be around for some time,” Mr. Mapa said.

A potential pickup in consumer goods might signal a rebound in domestic activity, Milo Gunasinghe, a research analyst at JPMorgan, said in a separate note.

”The January print suggests such a trend has yet to materialize and supports our narrative of a fragile economic recovery ahead,” he said.

A “substantive widening” of the trade deficit is expected up too the second half given the country’s fragile recovery, he added.

Trade could still turn around as more people get vaccinated against the coronavirus. Philippine Exporters Confederation, Inc. President Sergio R. Ortiz-Luis, Jr. said by telephone.

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