A travel ban is to be imposed by the UK on six African nations because of rising concerns over the B.1.1.529 Covid-19 variant, which officials say is “the worst one we’ve seen so far”.
The European Union is considering following suit, although some of its member states are taking matters into their own hands with Italy imposing an entry ban on travellers who have been in one of the six African countries in the past 14 days.
UK Health Secretary Sajid Javid said flights from South Africa, Namibia, Lesotho, Botswana, Eswatini and Zimbabwe would be suspended from midday on Friday and all six countries will be added to the red list.
The new strain has also been detected in Hong Kong, Belgium and Israel, but to date they have avoided placement on the UK red list.
Israel identified three cases and the people involved were placed in quarantine.
"The variant discovered in southern African states has been identified in Israel," its health ministry said, adding it was recorded "in a person who returned from Malawi".
The three people were all vaccinated, the ministry said, without specifying the number of doses or type of vaccine.
India also issued an advisory to all states to test rigorously and screen international travellers from South Africa and other "at risk" countries, after easing some of its travel restrictions earlier this month.
The federal health ministry said reports of mutations in the new variant, identified as B.1.1.529, had "serious public health implications".
The return of UK hotel quarantine
Anyone entering the UK from the six African countries from 4am on Sunday will be required to enter quarantine in government-approved hotels.
“If anyone arrives before then, they should self-isolate at home and take a PCR test on day two and day eight," Mr Javid said.
"If anyone has arrived from any of those countries over the last 10 days, we would ask them to take PCR tests."
Direct flights from the six nations to the UK are being temporarily banned until 4am on Sunday, once the quarantine hotels have been set up.
The Scottish government also said all arrivals from the six countries will be required to isolate themselves and take two PCR tests from midday on Friday, while anyone arriving after 4am on Saturday will need to stay at a managed quarantine hotel.
The Northern Ireland Executive said it was following England's restrictions.
UK Travel Secretary Grant Shapps on Friday told the BBC the flight ban isn't a silver bullet "but early action will buy more time".
South Africa criticises UK travel ban
This lesson wasn't heeded by South Africa on Friday as it called the British ban rushed.
The rand slumped more than 1 per cent against the dollar early on Friday, as the variant made investors cautious.
Hospitality stocks like Tsogo Sun Hotels and City Lodge Hotels plummeted on the Johannesburg Stock Exchange, falling 9 per cent and 20 per cent respectively, as South Africa is a major destination for British travellers.
"Our immediate concern is the damage that this decision will cause to both the tourism industries and businesses of both countries," South African Foreign Minister Naledi Pandor said.
Southern African tourism association SATSA said the British travel restrictions punished countries like South Africa with advanced genome sequencing capabilities.
South Africa will speak to British authorities to try to get them to reconsider their decision, the foreign ministry said.
Bans on Southern Africa flights proliferate
The UK wasn't alone in banning flights from the region.
The EU said Friday it is planning to stop air travel from southern Africa to counter the spread of the South African variant, as the 27-nation bloc is battling a massive spike in cases.
“The last thing we need is to bring in a new variant that will cause even more problems,” said German Health Minister Jens Spahn.
EU Commission President Ursula von der Leyen said she “proposes, in close coordination with the member states, to activate the emergency brake to stop air travel from the southern African region”.
Germany said Ms von der Leyen’s proposal could be enacted as soon as Friday night.
Mr Spahn said airlines coming back from South Africa will only be able to transport German citizens home, and travellers will need to go into quarantine for 14 days, whether they are vaccinated or not.
EU member state Italy has jumped the gun on the flight moratorium. Italian Health Minister Roberto Speranza said Friday the country was following "the path of maximum caution".
More on Europe's Covid wave
WHO convenes meeting to discuss variant from South Africa
The World Health Organisation’s technical working group is to meet Friday to assess the new variant and may decide whether to give it a name from the Greek alphabet.
The WHO says coronavirus infections jumped 11 per cent in Europe in the past week, the only region in the world where Covid-19 continues to rise. The WHO’s Europe director, Dr Hans Kluge, said that without urgent measures, the continent could see another 700,000 deaths by the spring.
Singapore said it would also restrict arrivals from South Africa and nearby countries to try to keep the variant out, while India issued an advisory to all states to rigorously test and screen international travellers from South Africa and other "at risk" countries.
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
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Pox that threatens the Middle East's native species
Camelpox
Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.
Falconpox
Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.
Houbarapox
Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.
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The Great Derangement: Climate Change and the Unthinkable
Amitav Ghosh, University of Chicago Press
Duterte Harry: Fire and Fury in the Philippines
Jonathan Miller, Scribe Publications
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How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
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More on Quran memorisation:
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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Profile
Company: Libra Project
Based: Masdar City, ADGM, London and Delaware
Launch year: 2017
Size: A team of 12 with six employed full-time
Sector: Renewable energy
Funding: $500,000 in Series A funding from family and friends in 2018. A Series B round looking to raise $1.5m is now live.
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
