The National Healthcare Security Administration of the Chinese Communist Party recently announced that the total cost of China’s COVID-19 virus (CCP virus) vaccine has reached more than 120 billion yuan (about $18.8 billion). The recent financial reports disclosed by Chinese COVID-19 vaccine manufacturers show that they have made a lot of money. Chinese authorities stated…
China Has Spent Over $18.8 Billion on COVID-19 Vaccines
April 14, 2022
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Pfizer to Ask US Regulators to Authorize COVID Vaccine Booster for 5–11 Age Group
Pfizer and BioNTech plan on asking the U.S. Food and Drug Administration (FDA) to grant emergency use authorization for a booster for their COVID-19 vaccine for children aged 5- to 11-years-old, the companies announced on April 14. The submission will be based on data from a Phase 2/3 clinical trial that showed a boost in…
IEA Marginally Cuts Global Oil Demand Forecast on Mired Outlook Due to China COVID-19 Lockdown, Russia-Ukraine War: FT
April 14, 2022
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The International Energy Agency (IEA) has lowered its global oil demand forecast amid surging coronavirus cases in China and weaker than expected demand in the U.S. and other developed countries. According to the Financial Times report, The agency now expects demand to average 99.4 million barrels a day this year, down from its previous estimate…
Less Rice for the Same Price: Inflation Bites Asia’s Food Stalls
April 14, 2022
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Profits at Ma Hong’s spicy hotpot restaurant have been squeezed by about a fifth since he opened in downtown Beijing last year, crushed by beef tripe prices that have shot up by more than 50 percent and the surging costs of other key ingredients. “We sell it at the same price as before. Also with…
Japan’s Feb Machinery Orders Fall for 2nd Month, Adding to Growth Fears
April 14, 2022
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TOKYO—Japan’s core machinery orders posted their biggest monthly fall in nearly two years in February, official data showed on Wednesday, dragged down by a steep drop in demand from IT and other service firms to extend their decline into a second month. The data added to concerns that Japanese firms are holding off on investments…
US Airline Demand, Costs Soaring as Earnings Kick Off
April 14, 2022
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CHICAGO—Major U.S. airlines are enjoying the strongest travel demand in three years, yet investors will focus on how they are mitigating mounting inflationary pressures when they report quarterly earnings starting on Wednesday. After a blip caused by the Omicron coronavirus variant, travel demand has roared back, with some airlines reporting the highest ticket sales in…
Texas School District Implementing 4-Day Week, Teacher Retention Incentives Amid Staff Shortages
April 13, 2022
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A Texas school district is adopting a four-day school week for the upcoming year amid staff and teacher shortages. The Jasper Independent School District (JISD) announced the changes in a social media post on March 16, one day after the JISD Board of Trustees unanimously voted to give teachers and staff retention incentives for the 2022–2023 school year. As…
Thousands of Etsy Sellers Go on Strike Over Increased Fees
Thousands of Etsy sellers are going on strike in protest against the increase in fees that the American e-commerce company is charging for those who use its platform. Earlier this year, Etsy’s CEO Josh Silverman announced that starting April 11 the company would increase the 5 percent transaction fee for sellers that has been in place since 2018…
Sri Lanka Halts Debt Repayment Pending IMF Bailout Plan
April 13, 2022
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COLOMBO, Sri Lanka—Sri Lanka is suspending its repayment of foreign debt, including bonds and government-to-government borrowing, pending the completion of a loan restructuring program with the International Monetary Fund to deal with the island nation’s worst economic crisis in decades, the government announced Tuesday. Sri Lankans in recent months have endured fuel and food shortages…
Taiwan iPhone Maker Pegatron Suspends Operations at Two China Plants
TAIPEI—Taiwan’s Pegatron Corp, which assembles iPhones for Apple Inc, said on Tuesday it had suspended operations at its Shanghai and Kunshan plants in China due to the strict COVID-19 protocols. The Chinese regime has put Shanghai under a tight lockdown since late March and neighbouring Kunshan has also tightened curbs to control the country’s biggest…
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