Thursday’s number of new infections is the lowest since May 28 when the daily increase started to surpass 1,000, while the new single-day deaths mark the fewest since June 13.
A record 1,774 daily infections was seen in Egypt on June 19.
Meanwhile, 512 patients were cured and discharged from hospitals on Thursday, raising the total recoveries to 22,753, Health Ministry spokesman Khaled Megahed said in a statement.
Egypt announced its first confirmed COVID-19 case on Feb. 14 and the first death from the highly infectious virus on March 8.
Egypt resumed international flights on July 1 after more than three months of suspension, amid a coexistence plan to maintain anti-coronavirus precautionary measures while resuming economic activities.
The North African country has recently lifted a partial nighttime curfew imposed over the past three months, and reopened restaurants, cafes, theaters and cinemas, as well as hotels, museums and archeological sites for tourists, all with limited capacity.
In early February, Egypt provided aid to China to help with its fight against COVID-19 and China later returned favor by sending three batches of medical aid to the country, the latest of which was in mid-May.
“So far, Chinese medical experts have held eight video conferences with Egyptian counterparts. China is so willing to strengthen remote consultation, dialogue and cooperation in the development and use of vaccines with Egypt,” Chinese Ambassador to Egypt Liao Liqiang said at an online press conference on Wednesday.
On July 5, Liao delivered a batch of anti-coronavirus medical aid sent by the Chinese government to the Cairo-based Arab League.
Edited By: Emmanuel Yashim (NAN)
BP posts second-quarter post-tax loss of $16.8bn
Global energy giant BP on Tuesday reported a post-tax loss of 16.8 billion dollars in the second quarter amid lower oil prices and writedowns.
The loss compared to a post-tax profit of 1.8 billion dollars in the April to June period a year ago.
The company said that costs for writedowns of inventories and exploration charges weighed heavily on the results.
“These headline results have been driven by another very challenging quarter, but also by the deliberate steps we have taken as we continue to reimagine energy and reinvent BP,” chief executive Bernard Looney said.
By the end of decade, Looney said BP would be investing around 5 billion dollars in low-carbon projects a year, and during the same period expected daily oil and gas production to drop by 40 per cent from 2019 levels.
The company said it would cut its dividend payout for the first time since the Deepwater Horizon oil spill in the Gulf of Mexico in 2010.
Shareholders were to receive 5.25 United States cents per share, compared with the previous quarter’s 10.5 United States cents per share.
Edited By: Emmanuel Yashim (NAN)
Revival of ailing industries will strengthen currency -Expert
Mr Promise Amahah, an economic expert says revamping ailing industries and economic diversification in the country will help to strengthen the value of the Naira among world currencies.
He advised the Federal Government to also sustain the tempo in its diversification drive in different sectors of the economic to further boost the economy.
“The fall of the Naira did not just happen overnight. When Naira was stronger was when we had Peugeot Automobile Nigeria, Volkswagen Nigeria, Dunlop Nigeria Ltd, Michelin Nigeria, Bata and Lennards.
“Our Naira had value when we had Nigerian Airways, Steel Rolling Mills; Osogbo Steel Rolling Mill, Ajaokuta steel, Arewa Textile Mill, BEREC Batteries, General Motors and Kingsway among others,” he said.
Amahah, who is the Chief Executive Officer of Strategy Worth and Technology (SWAT), lauded Federal Government for its move to revive Ajaokuta Steel Company.
The expert said the commitment by the Central Bank of Nigeria to revive Nigerian Cotton Textile and Garment industries was the right step in the right direction.
Edited By: Ismail Abdulaziz (NAN)
China’ll not accept United States’ ‘theft’ of TikTok, says state media
China says it will not accept the United States’ “theft” of a Chinese technology company, state media reported on Tuesday.
The Trump administration’s pressuring of ByteDance, TikTok’s parent company in China, to sell its United States operations to Microsoft or risk closure amounts to a “smash and grab,” the state-run China Daily newspaper wrote in an editorial.
Beijing has ways to retaliate against Washington’s pressure on the Chinese-owned short video app TikTok.
While Beijing will likely be “cautious” in imposing equivalent restrictions on United States companies in China, it has “plenty of ways” to retaliate, the paper said.
Microsoft said on Monday that it was in discussions with ByteDance to buy parts of TikTok after United States President Donald Trump gave the companies 45 days to reach a deal.
Trump had initially threatened to ban TikTok in the United States on national security grounds.
United States Secretary of State Mike Pompeo said over the weekend that Washington might take action “shortly” against TikTok and other Chinese companies believed to share data with the Chinese government.
ByteDance said in a statement late Sunday it was still committed to being a global company despite “complex and unimaginable difficulties” including the “tense” international political environment.
Edited By: Emmanuel Yashim (NAN)
Oil prices fall as rising coronavirus case numbers cast shadow over fuel demand pickup
This is just as major producers ramp up output.
The slide comes after WTI rose 1.8 per cent and Brent climbed 1.5 per cent on Monday on better-than-expected data on manufacturing activity in Asia, Europe and the United States.
“On the demand side, we had quite encouraging global manufacturing (data) … but there’s still quite a bit of evidence of the oil demand recovery stalling in quite a few markets with a resurgence of COVID-19,’’ said Lachlan Shaw, Head of commodity research at National Australia Bank (NAB).
Denting fuel demand, cities from Manila to Melbourne are tightening lockdowns to battle new infections, while Norway has stopped cruise ship traffic in the latest European travel alarm.
In a further sign of a patchy rebound in demand, analysts estimate United States refined product stockpiles rose last week, according to a preliminary Reuters’ poll ahead of data due from the American Petroleum Institute industry group later on Tuesday and the United States government on Wednesday.
Five analysts estimated, on average, that United States inventories of gasoline rose by 600,000 barrels.
Distillate stockpiles, which include diesel and heating oil, likely grew by 800,000 barrels, while crude stocks fell by 3.3 million barrels in the week to July 31.
At the same time producers in the Organisation of the Petroleum Exporting Countries (OPEC) and its allies, together known as OPEC+, are stepping up output this month, adding around 1.5 million barrels a day of supply.
United States producers also plan to restart shut-in production and inventories remain near historical highs.
“I think it is fair to say that most oil market participants expected more downward pressure on oil to start the week with COVID-19 ravaging the landscape and OPEC+ adding more barrels into play,’’ said Stephen Innes, Chief Global Markets Strategist at AxiCorp, in a daily note.
Edited By: Abdulfatah Babatunde (NAN)