Global Markets: Russia claims it has coronavirus vaccine

Lack of data leads to skepticism

By MarketsFarm

WINNIPEG, Aug. 11 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Russia announced on Tuesday the approval of a coronavirus vaccine. However, the news has been treated with skepticism by the medical community, citing safety concerns and the true effectiveness of the vaccine, according to reports. Researchers at the Gamaleya Institute in Moscow did not release any scientific data regarding their vaccine, named Sputnik-V after the world’s first artificial satellite. The vaccine is now set to enter Phase 3 trials in which it would be administered to thousands of people in Russia and other countries.

– Canadian Prime Minister Justin Trudeau tapped former Bank of Canada Governor Mark Carney to advise the federal government on a plan to guide Canada out of the economic recession caused by the COVID-19 pandemic. He is to provide insight on challenges faced by the country’s social safety net, climate change, infrastructure and immigration. Carney is also the former governor of the Bank of England, having completed his term five months ago.

– Mauritius Prime Minister Pravind Jugnauth said on Monday the island nation in the Indian Ocean needs to prepare for the worst-case scenario following an oil spill that began two weeks ago. The MV Wakashio ran aground on a reef and leaked oil until yesterday. However, Jugnauth said there were cracks along the ship’s fragile hull, with 2,000 tonnes of oil on board in two tanks.

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