STUART THEOBALD: Omicron’s timing couldn’t be worse for leisure and travel industries

So what now? On Friday, investors reacted suddenly to news of the Omicron variant, having largely shifted attention to other issues, particularly the inflation and interest rate outlook. Covid-19 was, in many minds, something that developed markets, at least, had under control. That has changed quickly.

SA was the epicentre of a global shock because the spread of the Omicron variant seems to be most entrenched here. While the JSE all share index was down 4.5% in dollars, the MSCI World wasn’t far behind, falling 2.5%. Markets price an uncertain future. It could turn out that the variant is clinically mild and well controlled by vaccines. On the other hand, it could presage a new wave of strict lockdowns...

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

LIVE | Covid-19: Australia detects first Omicron infections, US praises SA scientists | News24More countries are imposing travel bans on South Africa following the detection of a highly mutated Covid-19 variant that has since been named Omicron. Those passengers I guess were from Africa This investment undoubtedly is the key to financial liberty 🗽 thanks to Iamcallaway_B who’s maximum interest is the success of his investors and I’m grateful the outcome of my investment which was R15,000 with him try invest with Iamcallaway_B and thank me later
Source: News24 - 🏆 4. / 80 Read more »

61 passengers from SA flights test positive for Covid-19, say Dutch authoritiesThe results are currently being examined for the new Covid-19 Omicron variant. And they were jabbed. Am not an anti vaxxer, just this particular jab that does not prevent passing along covid or getting covid.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Cyril Ramaphosa to address the nation tonight on new Covid-19 variantThe national coronavirus command council met on Saturday to discuss the discovery of Omicron
Source: BDliveSA - 🏆 12. / 63 Read more »

Cyril Ramaphosa to address the nation tonight on new Covid-19 variantThe national coronavirus command council met on Saturday to discuss the discovery of Omicron President of pandemic🙄 Yah we already know Omicron is nothing but a storm in a tea ☕️ cup , just wash ur hands wear masks 😷 and be careful yah
Source: BDliveSA - 🏆 12. / 63 Read more »

SA wants countries to reconsider travel bans over Omicron variantThe department of international relations said the travel restrictions were “akin to punishing South Africa”
Source: BDliveSA - 🏆 12. / 63 Read more »

Travel industry dismayed as travel bans mountTourists have been forced to cancel bookings overnight, sending the hospitality industry back to the brink of collapse and hotel stocks plunging
Source: BDliveSA - 🏆 12. / 63 Read more »