Global shares advance…Call for pandemic prep treaty
TOKYO (AP) – Global shares have advanced as investors focus on causes for optimism, such as the reopening of the Suez Canal. In early trading in Europe, France’s CAC 40 gained 0.6%, while Germany’s DAX added nearly 0.7%. Britain’s FTSE 100 added 0.5%. In Asia, Japan’s benchmark closed 0.2% higher and South Korea’s Kospi added 1.1%. Hong Kong’s Hang Seng gained 0.8%, while the Shanghai Composite rose 0.6%. On Wall Street, Dow futures are up 0.2% and S&P 500 futures are down less than 0.1%.
LONDON (AP) – More than 20 heads of government and global agencies are calling for an international treaty for pandemic preparedness that they say will protect future generations. But there are few details to explain how such an agreement might actually force countries to act more cooperatively. The World Health Organization’s director-general and leaders, including Boris Johnson of Britain, Mario Draghi of Italy and Paul Kagame of Rwanda, are calling for “a renewed collective commitment” to reinforce the world’s pandemic preparedness and response systems, that would be rooted in the U.N. health agency’s constitution. The leaders made their case in a commentary published on today.
UNITED NATIONS (AP) – The U.N. chief and the prime ministers of Canada and Jamaica are urging far bolder action to prevent a debt crisis. They are calling for an extension of the moratorium on debt repayments and urgent cash liquidity for developing countries so they can respond to the COVID-19 pandemic and invest in economic recovery. Secretary-General Antonio Guterres said Monday that a debt crisis will have the greatest impact on the poorest people in the most vulnerable countries. But he adds that it can’t be confined to a region or country, saying that “there have been credible forecasts of losses of global output in the trillions of dollars.”
SUEZ, Egypt (AP) – Experts have boarded a colossal container ship that had been stuck sideways for nearly a week in the Suez Canal before it was dislodged. Questions are swirling about the incident that had shaken the global shipping industry and clogged one of the world’s most vital waterways. A canal pilot says engineers are inspecting the Ever Given for damage and trying to determine the cause of its grounding. Today, the ship is safely anchored in the Great Bitter Lake, a wide stretch of water halfway between the north and south ends of the canal.
WASHINGTON (AP) – The United States has suspended a trade deal with Myanmar until a democratic government is restored in the Southeast Asian country. The military overthrew the elected government on Feb. 1, followed by a violent crackdown on mass protests. U.S. Trade Representative Katherine Tai said Monday that the United States was immediately suspending “all U.S. engagement with Burma under the 2013 Trade and Investment Framework Agreement.? Under the agreement, the two countries cooperated on trade and investment issue, a reward for the military’s decision to allow a return to democracy.