From the Editors: After brief relief, new COVID-19 strain impacts global growth expectations

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FROM STRESS TO 'STRAIN', BLACK SWAN RETURNS?: When the global economies and markets were just in the middle of a sigh of relief from multiple vaccine discoveries, worries over crisis making a comeback with vengeance. The global growth expectations have suddenly taken a step back after the news that a new COVID-19 strain in the UK could be transmitting faster, and the efficacy of vaccines uncertain. That brings us to a higher probability of shutdowns and potential double dips for many economies that have been struggling with a recession and or contractions. And politics is adding another dimension to the uncertainty with president Trump threatening to veto the fiscal stimulus bill. If anyone seeing a black swan rising again, he/she can’t be blamed - Babu Das Augustine, Banking Editor Image Credit: AFP

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SPREADING RUMOURS ABOUT COVID-19 WON'T HELP HUMANITY: UAE authorities have rightly advised people not to spread rumours about the mutation of a new strain of Coronavirus. A new mutated strain of COVD-19 has been found in certain parts of the world, which has been followed by a fresh set of flight restrictions. However, as noticed since the very onset of this pandemic, UAE authorities have ensured the safety of residents and visitors in every possible way and have applied all necessary restrictions, backed up by a world-class health-care infrastructure. Following health protocols and abiding by the safety measures are the responsibilities of every individual. Spreading rumours and false notions about the virus or for that matter any disease or medical condition is not only illegal, but also detrimental to the collective interests of society - Sanjib Kumar Das, Assistant Editor Image Credit: Ahmed Ramzan/ Gulf News/archive

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EASING TRAVEL BAN IS GOOD NEWS: Europe has started lifting the latest travel bans on Britain to fight a fast-spreading strain of the coronavirus. This is good news. Scientists have said that the new strain appears to spread more easily, but there is no evidence it is more lethal or resistant to vaccines. The initial panic is understandable, but so is the hardship caused to the common people. Hopefully, the easing of restrictions will enable people to travel to their homes for the festive season, while taking the necessary precautions - Alex Abraham, Senior Associate Editor Image Credit: AP

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CELEBRITIES ARE NOT ABOVE THE LAW: In the recent crackdown on celebrities breaking COVID-19 protocols in Mumbai, the message sent out is very clear – no one is above the law especially in times of a pandemic. Bollywood singer Guru Randhawa and Indian cricketer Suresh Raina issued statements of apology in the aftermath after the duo were arrested for partying at a nightclub in Mumbai. Meanwhile, Sussanne Khan, ex-wife of Bollywood actor Hrithik Roshan, denied being arrested but did acknowledge that she had been at the nightclub and was made to wait while authorities sorted things out. India, which recently recorded more than 10 million cases of COVID-19, has the second-highest number of cases in the world, behind only the US. As we let that sink in, in times such as these, the celebrity and the common man must come together towards a common goal for everyone’s safety - Bindu Rai, Entertainment Editor Image Credit: IANS

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WILL ISRAEL'S 4TH POLL IN 2 YEARS LEAD TO A STABLE GOVERNMENT?: Prime Minister Benjamin Netanyahu will be facing a new, right-wing challenger as Israel goes for a snap election in March - a record fourth poll in two years. The bone of contention this time? Inability to pass the national budget. The problems Netanyahu has to deal with are formidable: a populace unhappy with the government’s COVID-19 response, an ongoing corruption trial, and Gideon Saar, a former member of his right wing Likud party who is now his main challenger. But, writing off Netanyahu would be a mistake. He is, after all, Israel’s longest serving PM and has shown an uncanny ability in the past to bounce back from the brink - Omar Shariff, International Editor Image Credit: AFP

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CLINICAL CITY HEAP MORE PRESSURE ON ARSENAL AND ARTETA: Defending champions Manchester City found their scoring boots in the League Cup to thump Arsenal and heap more pressure on the Gunners’ manager Mikel Arteta. Pep Guardiola’s [featured above] side had been struggling to score in recent games, but had no such trouble at the Emirates in London as they emerged comfortable 4-1 winners to book their place in the semi-finals, with Gabriel Jesus, Phil Foden, Riyad Mahrez and Aymeric Laporte all getting in on the scoring act. Arteta was looking for a strong showing, as a series of losses has left them down in 15th in the table, four points above the relegation zone. Guardiola was quick to offer his support to his former assistant coach, saying it would be a mistake to sack Arteta. If results don’t improve, Arsenal will be left with no choice - Matt Smith, Sports Editor Image Credit: Reuters

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From the Editors: After brief relief, new COVID-19 strain impacts global growth expectations

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From the Editors: After brief relief, new COVID-19 strain impacts global growth expectations

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