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Vaccine alliance secures $2 billion to fund COVID shots for poor nations

The European Commission, France, Spain, South Korea, the Bill & Melinda Gates Foundation and others had in recent weeks pledged another $360 million to the AMC, the alliance said, bringing total funding over the $2 billion target for this year.

Another $5 billion will be needed in 2021 to procure COVID-19 vaccine doses as they come through development and are approved by regulators, GAVI said in a statement.

Philippines hunts for missing after its deadliest typhoon this year

Vamco, the 21st and most deadly cyclone to hit the country this year, tore through the main island of Luzon late on Wednesday and early Thursday, just as the country was reeling from Goni, the world’s strongest typhoon of 2020, which killed 25 people and flattened thousands of homes.

Tens of thousands of homes were engulfed by the floods and as the water receded in areas such as Marikina, a suburb east of Manila, homes covered in debris and caked in mud emerged.

Asia-Pacific closes in on world’s biggest trade deal

RCEP includes China, Japan, South Korea, Australia, New Zealand and the 10 members of the Association of South East Asian Nations (ASEAN) – Brunei, Vietnam, Laos, Cambodia, Thailand, Myanmar, Malaysia, Singapore, Indonesia and the Philippines.
One of the deal’s biggest draws is that its members already have various bilateral or multilateral agreements in place, so RCEP builds on those foundations.

It will allow for one set of rules of origin to qualify for tariffs reduction with other RCEP members. A common set of regulations mean less procedures and easier movement of goods.

This encourages multinational firms to invest more in the region, including building supply chains and distribution hubs.

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