WHO lauds Kingdom's efforts to tackle MERS

RIYADH: The World Health Organization (WHO) has appreciated the efforts of Saudi Arabia in tackling the MERS coronavirus and urged all the countries to remain alert and ready. The organization confirmed that the warning issued by it regarding the spread of MERS in South Korea and the increased incidence of infection and deaths due to the disease should serve as a "wake up call." Peter ben Embarek, director of global programs at WHO, said public health authorities in the Kingdom are active, and have developed a strong and coherent program to combat and follow up on MERS and reduce the number of cases and deaths. 

In events involving gathering of large groups of people, such as Umrah and Haj, Embarek said the Saudi health authorities have been proactive in providing all necessary services to visitors and pilgrims. "Special standards have been set for countries sending pilgrims to Saudi Arabia to ensure that adequate awareness and safety measures are in full effect." The Kingdom has already proven capable of containing the virus during the Haj and Umrah season last year with not a single case being registered during that period, he said. According to a statement issued by WHO on Thursday, the MERS outbreak in South Korea is a reflection of how easy diseases can spread in an increasingly interconnected world. 

The organization, however, clarified that it was optimistic and no bans on travel or trade would be required at this stage. Health officials in South Korea have announced the discovery of eight new cases of MERS, bringing the death toll in the country to 20. A total of 162 people have been infected with the virus in South Korea, which has witnessed the largest outbreak outside Saudi Arabia. The first case involved a 68-year-old Korean businessman who had just returned from a trip to the Middle East in early May. WHO said it expects the emergence of new cases over the next few weeks, although the numbers might be decreasing overall. 

The Ministry of Health in South Korea said quarantine was imposed on at least 6,500 people, both in medical centers and in their homes. Meanwhile, the Saudi Ministry of Health announced a new MERS-related death, bringing the total number of deaths to 457 so far. The Kingdom has reported 1,034 MERS cases since 2012. A patient fully recovered in Riyadh recently, bringing the total number of recovery cases to 570, while six other are currently being treated and one is in home quarantine. The mortality rate among MERS patients is 35 percent, and no vaccine or cure exists.

Citation : Zawya : https://goo.gl/a7HncE

India scraps import duties on AIDS drugs to battle shortage

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MUMBAI, June 11 (Reuters) - India has scrapped customs import duties for drugs and test kits used to treat AIDS in an effort to cut prices across the country, as it struggles to cope with an ongoing shortage in its national program to fight the disease.

More than a third of India's 2.1 million HIV/AIDS patients depend on getting their daily antiretrovirals for free from state-run distribution centres, but many of them have been facing shortages or stock outs for months.

The notice put out by the Central Board of Excise and Customs this week intends to make it cheaper to import raw materials that are used to make antiretrovirals under the national program, BB Rewari of the National AIDS Control Organisation (NACO) told Reuters.

Currently, U.S. firm Mylan Inc and India's Aurobindo Pharma supply AIDS drugs to the government program.

The exemption applies to certain first-line and second-line antiretroviral drugs used to treat adults and children, as well as to certain diagnostic kits and equipment that are used by NACO, Rewari said.

He added the drugs under exemption make up roughly 95 percent of the antiretrovirals used by India's AIDS patients under the national program.

The exemption, which will remain in effect until March 2016, is the national AIDS control department's latest effort to deal with a chronic shortage of HIV/AIDS drugs at home, even though Indian companies are some of the world's major suppliers of AIDS drugs. Local firm Cipla Ltd made headlines in 2001 by making antiretrovirals for Africa for under $1 a day.

The AIDS control program has been in disarray for months after the government changed the way over $1.3 billion in federal funds were distributed, according to data and letters seen by Reuters.

Construction of clinics in rural areas has been delayed and many health workers have quit.

Government officials have previously told Reuters of a lack of participation by local drugmakers in the tenders floated by the National AIDS Control Organisation (NACO) to procure drugs.

Industry insiders, meanwhile, cite delayed tender approvals, supply bottlenecks and late payments, as well as poor coordination between the central and state governments.

AIDS drugs sold on the open market are expensive, so in an effort to make those more affordable, the government is likely to add more AIDS drugs under price control by including them in the national list of essential medicines, people involved in the process told Reuters in April.

citation from  zawya : https://goo.gl/72Jh21

Kuwait to table corporate tax bill in 2 years - finance minister

LONDON, June 8 (Reuters) - Kuwait expects to table a bill to harmonise corporate tax rates between local and foreign firms in around two years' time, offering incentives to key sectors like telecoms and IT, the country's finance minister said on Monday.
Kuwait said in April it was studying proposals to introduce the same levy for domestic firms, which generally pay little or no tax on income, and foreign companies, whose commercial activities are taxed with a rate of 55 percent in the highest bracket. 

"We are looking at many, many scenarios ... but we are definitely looking at matching them," Finance Minister Anas al-Saleh told Reuters on the sidelines of a conference in London. 

"We need to draft legislation ... in 24 months we should have a law that can go to parliament." 

Saleh expected the rate for international firms to fall and the levy on local companies to rise, though he declined to indicate a level. He added the government was also looking at introducing tax breaks for companies operating in key sectors like IT, telecommunications and petrochemicals. 

"There will also (be) incentives, incentives to encourage corporates to focus on certain sectors that are needed for our economy," he said. 

Introducing a new corporate tax will be politically sensitive in Kuwait, which has seen pressure on its state finances because of the plunge in oil prices. Officials say they want to diversify revenue sources beyond oil. 

Saleh reiterated there were no plans to introduce income tax for individuals. 

citation : taken from zawya - https://goo.gl/4jAxyZ

Indian Maggi sales halted in Dubai

Sunday, Jun 07, 2015

Dubai: A Dubai Municipality official confirmed shops have been asked to halt sales of Maggi noodles made in India.

Officials in India have said samples of Maggi made in India tested positive for unacceptably high levels of lead.

Maggi maker Nestle has said its internal tests, as well as external lab reports, showed Maggi is safe to eat but has voluntarily recalled the product from shops in India on a temporary basis.

In India, there is an official ban on sale of locally made Maggi in some Indian states while other states continue to sell it.

In Dubai, Maggi made in Malaysia, rather than in India, is imported and distributed to local retailers, Nestle Middle East and Dubai Municipality have said, adding that the product is safe.

However, some Dubai shops directly import Maggi from India to cater to mostly Indians who prefer Maggi flavours and varieties made in India.

Following developments in India, Dubai shops have been asked to stop selling Maggi made in India, said Khalid Al Awadhi, Director, Food Control Department, Dubai Municipality .

There is no change in policy towards Maggi made in Malaysia and shops can continue selling that, he added.

Meanwhile, Nestle continues to maintain all Maggi products, regardless of their origin, are safe to eat. It said in a statement that it “reassures consumers in the Middle East that all Maggi products sold are safe and compliant with the highest quality standards.

“We are continuously engaging with authorities in our region and we thank them for their active collaboration.

“Quality and food safety are our top priority and we perform regular tests on our raw material and finished products to ensure food safety and full compliance”.

Dhananjay Datar, managing director of retail chain Al Adil Trading, said the company has destroyed its stock of Maggi made in India. He added that following a query on the status of Maggi made in India, there was an instruction from the municipality on Friday to stop sales of the product.

Hypermarket chain Lulu Middle East earlier said the Maggi noodles sold in their shops are not from India.

“All the Maggi noodles sold here in our shops are from Nestle Middle East and sourced from Malaysia. We don’t import from any other country,” V. Nandakumar, chief communications officer at Lulu Group, had said.

Citation - Taken from ZAWYA : https://goo.gl/Qgu8FP

The best option for Greece is to default

Euro Debt Crisis: Greece Crippled by Protests, Strike Over Austerity - CNBC

Greece are already junk grade CCC and nothing more to lose. The best option today for them is to default. Dubai defaulted and restryctured and now moving slowly so is Iceland. in 1996 currency crisis Indonesia along with other nations used the gimmick.
Why the nation and peoples pay for the American Mess? Let there be default, give the bond holder including the master of the ring Goldman big haircut. It will take some time but Greece will be soon out of crisis.
Default will help Greece to come out of the crisis soon. If we look at history of default then, Argentina and many more defaulted. The bond holder who paid for corruption and luxury must be held responsible and given good haircut on their value.
Why future generations pay for the crisis?
No to mess? No to Printing Press? No to Printing money worth nothing.
For the bright future and safe and secure tommorrow for the next generation best solution is default.
The bond holder must pay for their risk?
This is only way out.