6th January 2021 - Wilson James

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      6th January 2021

HIGHLIGHTS
       Worldwide cases of COVID-19 are at 89,957,136 with deaths numbering 1,878,638 as of 6th January
        according to Worldometer. 61,672,173 people have so far recovered from the virus.

       On 4th January, a third national lockdown in England commenced, it is to remain in place until at least
        Feb half term. The new restrictions will include closing all primary and secondary schools for the next
        six weeks, the only exception is children of key workers and vulnerable children.

       On 30th December the Oxford-AstraZeneca vaccine, became the second Covid-19 vaccine approved in
        the UK with the first vaccination-taking place on 4th December. The UK has secured 100 million doses
        of the Oxford-AstraZeneca vaccine, which can be stored at normal fridge temperatures.

       France has spent over £45 million on preparing the French side of the channel for a new border system
        ready for Brexit. This enabled; the creation of new buildings to carry out checks, an introduction of
        more staff, increased car parks and a new “smart” system that is designed to keep traffic moving.

       India is set to roll out a Covid-19 vaccination programme next week it aims to vaccinate 300 million
        people by July. India’s drug regulator approved two vaccines on 3rd January including the Oxford-
        AstraZeneca vaccine.

       Germany is set to extend its lockdown to the end of January, the country closed schools, shops and
        restaurants in mid-December in an attempt to reduce the impact of its second wave of Covid-19. The
        lockdown will introduce stricter rules on gatherings and schools will remain closed.

       Delivery of the Pfizer vaccine to European residents commenced on 26 December. Germany has issued
        the most vaccinations so far and has a vaccination rate of 0.23/100 people. Denmark however has the
        highest vaccination rate per capita at 0.78/100 people. Croatia and Portugal follow with vaccination
        rates of 0.19 and 0.16 respectively. Italy’s rate is 0.13 and at present, they have vaccinated 79,000
        citizens.

        Brexit News

       At 2300 GMT on 31 December, the UK formally cut ties with the EU, having first joined the bloc’s
        predecessor, the EC 47 years earlier. Predicted queues at British ports failed to materialise. The Pride of
        Kent made history as the first vessel to cross the channel from Dover to Calais on New Year’s Day

       French President Emmanuel Macron insisted the UK was still ‘France’s friend’ despite suggesting its
        decision to leave the EU. He commented Brexit “was the child of the European malaise and of many lies
        and false promises”.

       Some British residents in Spain had their entry back into the UK blocked over the weekend due to
        confusion over Brexit arrangements and COVID-19 restrictions. In addition, some travellers were unable
        to board flights to Spain from the UK. Despite UK and Spanish authorities confirming both the Foreign
        National Identification (NIE) and the Foreign ID card (TIE) are valid and legal, there remains reports of
        rejected ID documents. The Spanish Embassy in the UK confirmed The Certificado de Registro de
        Ciudadano de la Union Europea (green certificate) and the new Tarjeta de identidad de Extranjero are
        valid proof of residency for UK nationals who wish to return to their homes in Spain, this also includes
        any applications in process until 10 January. Travellers must also carry a valid passport.

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WORLD NEWS/RAS/6th January 2021

COVID – 19
         06.01.2021 - Worldometer

        TOTAL CONFIRMED CASES                         TOTAL DEATHS                      PATIENTS RECOVERED
               86,957,136                              1,878,638                             61,672,173

    COVID-19 – UK

        The total confirmed UK Covid-19 cases as of 6th January is 2,774,479 with 76,305 deaths according to
         GOV.UK. As of 30th December, the European Centre for Disease Prevention and Control have reported
         the 14-day cumulative number of COVID-19 cases per 100,000 for the UK to be 720.70.
        The overwhelming strain on the NHS coupled with the highly transmissible new variant of COVID-19
         has prompted UK Prime Minister Boris Johnson to announce on Monday 4 January a nationwide
         lockdown lasting until mid-February. Hospitalisations of COVID-19 patients increased 30 % in one week
         with admissions reaching 26,626 on 4 January. All non-essential shops are closed and take-out services
         only will be available from restaurants. Schools and universities are also closed and many summer
         exams cancelled.

         People in England can now only leave their homes for one of five reasons

                        To go to work if it is impossible to work from home
                        To shop for necessities
                        To exercise locally. This can be either with members of their household or support
                         bubble or with one person from one other household. Socialising outdoors is banned
                        To provide care or help to a vulnerable person
                        To attend a medical appointment, seek healthcare, or flee harm such as domestic abuse

        Wales and Scotland have also announced nationwide lockdowns and school closures as both Scotland’s
         first minister Nicola Sturgeon and Wales’ first minister Mark Drakeford expressed concerns over the
         stress on the NHS. Northern Ireland is to impose the same restrictions with an announcement expected
         from first minister Arlene Foster imminently.
        Prime Minister Boris Johnson stated on 3 January that he expects 10s of millions of Covid-19
         vaccinations administrated in the next three months. On 27 December, almost 1m people had received
         their first dose of the vaccine, doubling the highest number administered by any EU country.
        As of 03 January the UK and Israel (1.1 million vaccines issued – 12% of population) are reported to
         have administered the most vaccines to date. France is one of the countries reporting the lowest
         number of vaccines issued with only 352 citizens vaccinated by 31 December. The Netherlands
         commences its vaccination campaign on 08 January.
        On New Year’s Eve, a number of people across the UK chose to ignore government tier restrictions by
         either hosting or attending parties. In London, Police reportedly broke up 58 parties and issued 5 party
         organisers fines of £10,000 each.

        Due to thousands of hauliers stationed at UK ferry crossings over the Christmas period, the UK
         government opened 20 COVID 19 testing sites in an attempt to reduce disruption. France temporarily
         closed it borders to the UK just before Christmas after growing concerns over a highly transmissible
         new strain of Covid-19.
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WORLD NEWS/RAS/6th January 2021

COVID-19- OTHER COUNTRIES

    China
    China is set to replace the US as the World’s biggest economy by 2028, 5 years earlier than previously
    suggested due to the Covid-19 pandemic. According to the Centre of Economics and Business Research
    (CEBR), a UK think tank, China’s ‘skilful management of the pandemic’ and slow economic improvement in
    Western countries has seen China forecast an economic growth of 2% with the West likely to report a
    negative growth.

    Egypt
    Egypt has approved a Covid-19 vaccine developed by the Chinese Pharmaceutical company Sinopharm, the
    first shipment of the vaccine arrived in December containing 50,000 doses with further shipments expected
    in January. Egypt plans to buy 40 million doses of the Sinopharm vaccine.

    Indonesia
    Officials in Indonesia have raised concerns that people may be hesitant about receiving the vaccination. There
    are concerns the vaccine used pork products as a stabiliser in the vaccine. Islamic law prohibits the
    consumption of pork. Muslims make up 87% of the country’s population.

    India
    Health experts have raised concerns over the use of a locally produced vaccine not having completed the full
    trial regulations. Indian officials approved Covaxin, produced by Bharat Biotech, for use on 3 January. Officials
    hope to have vaccinated 300m people by July. Bharat Biotech are also developing a nasal vaccine.

    Saudi Arabia
    Saudi Arabia has reopened its borders to international flights after closing on 21st December to reduce the
    risk of a new strain of Covid-19 reaching the country. Travellers returning from the UK, South Africa or any
    country where the new variant of Covid-19 is spreading will need to spend 14 days in another country before
    entering Saudi Arabia and have a negative Covid-19 test.

    Turkey
     A university research centre in Turkey claim they have created a fast acting Covid-19 test with 99% accuracy
     that can return results within 10 seconds and does not need a nasal swab. The test named The Diagnovir, is
     said to use nanotechnology to detect Covid-19 in a patient. Ali Aytac Seyman, a researcher at the national
     Nanotechnology Research Centre (UNAM) stated the test “focuses on the existence or non-existence of the
     virus using advanced optical methods.” Researchers are hoping for approval and mass-production within 2
     months.

    United States of America
    The number of Covid-19 deaths has exceed 350,000 with more than 20 million people in the country
    identified infected with Covid-19 since the start of the pandemic. The vaccine rollout in the country has been
    slower than expected, the Trump administration had predicted there would be 20 million first dose
    vaccinations by the end of December however only around 4.2 million people received their first dose.

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WORLD NEWS/RAS/6th January 2021

Useful Information Sources
               UK wide – Public Health England
               Scotland – Scottish Government
               Northern Ireland – NISRA
               Covid-19 deaths in England & Wales – ONS
               Covid-19 Statistics – Worldometer – Johns Hopkins University

    WORLD NEWS
    Australia
    In recognition of the nation’s aboriginal indigenous people, a line in the country’s national anthem changed
    “For we are one and free” has now replaced the previous line “for we are young and free”. Australia replaced
    “God Save the Queen” as its national anthem in 1984, which is only used if a member of the Royal family is
    present.

    Bolivia
    A heavy hailstorm hit the Bolivian city of Sucre which led to flash floods that have so far killed 4 people with
    3 adults and 3 children still missing and 7 others injured. The hailstorm hit the city at around 18:45 local time
    and lasted for around 30 minutes, the city’s largest farmers market was the worst hit area with drains blocked
    by rubbish.

    Iran
    On 4 January, Iran seized a South Korean oil tanker in the Strait of Hormuz. The timing coincides with a South
    Korean diplomat due to visit the country to enter talks negotiating the release of billions of dollars of Iranian
    assets frozen in Seoul. On the same day, Iran began to enrich their uranium up to 20%.

    Saudi Arabia
    Saudi Arabia is set to reopen its land, sea and air borders with Qatar, after 4 years of ‘blockades’. The move
    comes just before the annual six-nation Gulf Cooperation Council (GCC) summit. "Based on (Kuwait's ruler
    Emir) Sheikh Nawaf's proposal, it was agreed to open the airspace and land and sea borders between the
    Kingdom of Saudi Arabia and the State of Qatar, starting from this evening," said Kuwaiti Foreign Minister
    Ahmad Nasser Al-Saba. It is understood the blockade, despite increasing Qatar’s independence and pushing
    it closer to Iran cost the country over $100 million US dollars annually to use Iran’s airspace.

    United Kingdom
    A court in London has ruled WikiLeaks founder Julian Assange will not be extradited. The judge believed that
    given the state of Mr Assanges mental health, procedures were not in place in the US custodial system to
    prevent Mr Assange attempting to take his own life. The USA are requesting Mr Assange to attend the US in
    connection with the publication of classified documents in 2010 and 2011.

    United States of America
    Reports suggest China’s largest offshore oil producer CNOOC activity in the South China Sea has connection
    to a CNOOC relationship with the Chinese military. It is possible CNOOC will be delisted from the New York
    Stock Exchange as a result. The NYSE has already begun proceedings to delist Chinese telecom companies in
    line with a US executive order on those affiliated with the Chinese military and CNOOC is now also under
    scrutiny.

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WORLD NEWS/RAS/6th January 2021

INSIGHTS
   Our Risk Advisory Service regularly publish articles and advisories covering a myriad of subjects. These
   publications can be found within our Insights section on our Risk Advisory Service website.

   The UK’s First Gigafactory
   A press release by Britshvolt on 11th December has announced that a 95-hectare site in Blyth, Northumberland
   has been chosen to build the UK’s first ever battery giga-factory, which will occupy 2.7 million square feet.1
   The plant, which is being built by construction company ISG, will see construction on the project begin in
   summer 2021, with Britishvolt hoping to start producing lithium-ion batteries for the automotive and
   renewable energy industries by 2023, followed by further phases of construction due to be completed by
   2027.

   The project could prove to be hugely beneficial for Blyth and the surrounding region; with a predicted £2.6
   billion worth of investment, as well as the direct creation of 3,000 jobs and a further 5,000 indirectly. 2 The
   level of investment by Britishvolt is reportedly one of the UK’s largest ever industrial investments, and is the
   largest investment the North East has seen since Nissan’s decision to base their plant in Sunderland in 1984.3
   Britishvolt had previously agreed a deal with the Welsh government to build its factory in the Vale of
   Glamorgan, in part due to its proximity to the Aston Martin plant. Blyth was ultimately decided on in order to
   facilitate the factory’s use of 100% renewable energy when operating, with the Northumberland location
   having the potential to use hydro-electric power from Norway via the North Sea Link project.4

   The building of the giga-factory, and investment in clean energy in general, will be critical in realising Prime
   Minister Boris Johnson’s 10-point plan to create a carbon neutral Britain by 2050. This target received
   buoyancy from other projects such as Cornish Lithium’s proposal to mine lithium in Cornwall, who saw their
   October crowdfunding round surpass their intended goal of £1.5 million to reach £5.2 million in just three
   days.5

   The excitement around the development of a clean energy hub in the UK, as evidenced by the interest in start-
   ups such as British Volt and Cornish Lithium, gives hope to the prospect of reaching the UK’s 2050 carbon
   neutral target, and if nurtured could see the UK carve out a new niche for itself on the international stage.

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WORLD NEWS/RAS/6th January 2021

COVID19@wilsonjames.co.uk / riskadvisory@wilsonjames.co.uk

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