CORONAVIRUS KILLS CAPITALISM

Coronavirus calls into question PSA-Fiat Chrysler merger

AFP/File / MARCO BERTORELLO, Joël SAGETPSA and Fiat Chrysler would create the world's fourth-largest automaker, if they manage to merge

Will they or won't they? On top of massive economic damage, the coronavirus pandemic now is casting doubt over the pending merger of PSA Group and Fiat Chrysler (FCA), financial sources told AFP.

The tie-up, announced at the end of October and due to be finalized in early 2021 at the latest, would create the world's fourth-largest automaker, bringing under one roof brands like Peugeot, Citroen, Jeep, Alfa Romeo and Maserati.

Preparations are continuing, with legal teams working hard to get the green light from antitrust authorities, according to the sources who requested anonymity as they discussed this sensitive subject.

Meanwhile, auditors and financial advisors are working on paperwork required by the US Securities and Exchange Commission stock market regulator.

But the COVID-19 pandemic has caused global markets to tumble as it plunges the economy into recession, shutting down auto plants in Europe and the United States. That has called into question the financial terms of the merger, according to the sources who are working on the transaction.

"The two groups need this merger in view of the heavy investments that must be made in electric cars, but they must recognize that, in view of the economic situation, for the merger to take place it will be necessary to review the initial financial terms," one of the sources said.

Karl Brauer, and expert at Kelley Blue Book, agreed, saying: "Assumptions about valuation of the companies, revenues projections, sales for 2020 and beyond for both companies, all those mathematical assumptions that were made during the talks essentially have to be re-evaluated now."

PSA and FCA no longer "have the level of confidence that they had even a month ago in terms of sales revenues, market shares, products mix and products planning," he said.

- Lost value -

The two groups planned a merger of equals, which involves paying a dividend of 1.1 billion euros to their respective shareholders for 2019.

FCA is also expected to pay an extraordinary dividend of 5.5 billion euros, while PSA must distribute to its shareholders its 46-percent stake in French equipment manufacturer Faurecia.

But Faurecia's market capitalization has shrunk by at least a third since the merger was announced, which means the value of PSA's stake lost nearly 1 billion euros as of Monday.

"We will have to rebalance things between shareholders if we still want to talk about a merger of equals," said one of the financial sources.

And an industry expert, who asked not to be named, said, "I have always found that parity is very much to Fiat's advantage."

With the decline in Faurecia value, "It is even more so."

- Dividends at stake -

The promised dividend of 1.1 billion euros is now in doubt as well, the sources said, since the companies will need to preserve their cash to cope with the coming collapse in auto sales, both in Europe, where PSA earns most of its income, and in the US, where FCA generates very large margins.

Governments are urging firms to be cautious.

French Economy Minister Bruno Le Maire on Tuesday warned "all companies, especially the largest, to exercise the utmost restraint on the payment of dividends."

"It is a time when all the money has to be used to run businesses," he said, especially if companies are seeking government help.

Arguing that 14 million European jobs are threatened, the European Automobile Manufacturer's Association (ACEA) last week asked for financial support for the industry, which is facing its "worst crisis" ever experienced.

"If PSA or FCA appeal to the state, how could they justify asking taxpayers for billions and distributing billions to their shareholders at the same time?" said Gregori Volokhine of Meeschaert Financial Services.

But PSA insisted that the deal would still go ahead.

"The merger makes sense more than ever in the current day-to-day context. Our teams are continuing work with the same commitment," PSA wrote in an emailed response to AFP.

"In the context of such a health crisis, we feel it is inappropriate to speculate about any possible changes to the agreement," the carmaker continued. "Our focus is to protect our employees and our business."

France's Economy Ministry, which is an indirect shareholder of PSA via the BPIFrance sovereign wealth fund's 12.2 percent stake in the company, did not respond to AFP's request for comment.

A PSA spokesperson simply said the merger schedule remained "unchanged," while FCA also did not respond to a request for comment.

Jean-Marie Messier, whose firm Messier Maris & Associes advised PSA on the transaction, and Michael Zaoui, counsel to the Peugeot family via Zaoui & Co., also declined to comment.

Coronavirus prompts a run on guns in US 

YOU CANNOT SHOOT A VIRUS OR KILL IT WITH A GUN

AFP / GEORGE FREYA worker restocks handguns at Davidson Defense in Orem, Utah on March 20, 2020

Gun sales have exploded in the United States in the last two weeks as the coronavirus outbreak worsens, with people stocking up on weapons and ammunition out of fear the pandemic might lead to social unrest.

"We have had about an 800 percent increase in sales," said David Stone, owner of Dong's*** Guns, Ammo and Reloading in Tulsa, Oklahoma. "I'm still not out of any caliber but I'm getting close to running out."

Stone told AFP that the overall majority of customers rushing to stock up on firearms and ammunition are first-time buyers grabbing anything available.

"It's fear over coronavirus," he said. "I don't understand it myself and I think it's unreasonable."

Several other store owners across the United States said they have also seen a surge in sales as people fear social order will unravel if the health and economic crisis caused by the virus escalates.

Tiffany Teasdale, owner of Lynnwood Gun, located in the state of Washington, one of the states hardest hit by the virus, said she has seen a massive uptick in sales with customers lining up an hour before the store opens.

AFP / GEORGE FREYA worker inspects an AR-15 gun at Davidson Defense in Orem, Utah

"We used to have on what we would call busy days, 20 to 25 firearms being sold," said Teasdale, who has hired a bouncer to keep everyone in check. "Today, we are seeing upwards of 150."

She said shotguns were in shortage across the country, along with ammunition for them as well as ammunition for handguns.

"A lot of people are buying shotguns, handguns, AR-15 (semi-automatic rifles), everything," said Teasdale, whose store is open seven days a week.

Like Stone, she said most of her customers are first-time buyers who undergo background checks and, if need be, are given a quick course on how to handle their purchase.

- 'Everybody buying guns' -

"We have men, women, young, middle-aged, older, everybody buying guns," she said. "And all ethnic backgrounds -- black, Asian, Indian, Hispanic."

She said one customer who came into the store recently decided it was time to arm himself after he witnessed two women fighting over the last case of bottled water at a store.

AFP / Robyn BeckGun sales have exploded in the United States in the last two weeks as the coronavirus outbreak worsens, with people stocking up on weapons and ammunition out of fear the pandemic might lead to social unrest

"We have customers who are also scared because law enforcement is being told to not respond as much because they are so short-staffed," she added. "So a lot of people are scared that someone is going to break into their home... to steal cash, their toilet paper, their bottled water, their food."

Utah resident Nick Silverri told the local CBS station that he recently purchased a shotgun for protection, but was having a hard time finding ammo.

"A shotgun seemed like a prudent firearm for self-defense in case COVID-19 virus got people all riled up and crazy," he said.

Jordan McCormick, marketing director of Delta Team Tactical, based in Utah, said his company, which mostly makes AR-15 kits, is working non-stop to meet demand.

"Last week is pretty much when things got crazy," McCormick, whose products are sold online and in stores, told AFP. "It's like gasoline got poured on a fire."

AFP / GEORGE FREYA worker moves finished AR-15 rifle barrels for storage at Delta Team Tactical in Orem, Utah

He said fears over gun shops being shut down across the country as more and more states impose lockdowns have driven sales, along with concerns by advocates who worry that the right to bear arms -- as laid out in the second amendment of the US constitution -- could be threatened.

"A lot of people want to protect themselves," he said. "If people are out of work for a while and they start looting, they want to have the ability to protect themselves, their assets and their family.

*** DONG IS A VIETNAMESE LAST NAME, IRONICALLY VIETNAM REFUGEES BOAT PEOPLE ARE BEING DEPORTED BY TRUMP AFTER LIVING IN THE USA FOR FIFTY YEARS

SEE

https://plawiuk.blogspot.com/2020/03/you-cant-shoot-virus-neither-hurricanes.html

https://plawiuk.blogspot.com/2020/03/you-cannot-kill-covid-19-with-gun-are.html

Industry races to meet demand for ventilators

AFP / Alberto PIZZOLI

A range of companies is mobilising to step up production of urgently needed equipment

Manufacturers are on a mission to produce desperately needed medical ventilators for the coronavirus pandemic, even if it means converting assembly lines now making auto parts.

Along with a shortage of masks and gloves, the spread of COVID-19 to almost every corner of the globe has highlighted a great need for specialised machines that help keep severely afflicted patients alive.

"As the global pandemic evolves, there is unprecedented demand for medical equipment, including ventilators," said Kieran Murphy, head of GE Healthcare.

The group has hired more workers and is now making them around the clock.

AFP /How an artificial respirator works


Swedish group Getinge is also ramping up output to meet what it called exponential growth in demand from around the world.

All the equipment that is normally used for demonstrations, training or trade fairs was immediately made available for clients, a statement said.

French group Air Liquide has plans to raise its ventilator production from 500 a month to 1,100 in April.

Draeger, a German medical tech giant, says it has doubled the number of ventilators as well, while Loewenstein has a government order for 6,500 over the coming three months.

It had already begun to raise production in February owing to the strong demand from China.

- Staffing shortages -

The novel coronavirus pandemic has overwhelmed hospitals, where some intensive care units are already saturated and at risk of running out of essential equipment, French officials warn.

Earlier this month, the Italian association of anaesthesiologists and ICU personnel mulled an age limit for admissions.

World leaders have turned to industrial groups that have the know-how and capacity to help hospitals.

US President Donald Trump tweeted a "green light" to Ford, General Motors and Tesla to help boost ventilator production.

AFP/File / JACK GUEZ

The race is on to fill the need for essential equipment in hospitals across the world

French group PSA, which owns Peugeot and Citroen, told AFP it was looking "very seriously at the feasibility" of joining forces with companies that make the machines.

Innovations such as 3D printing might also be useful, and the Dutch company Ultimaker has put its printing centres, experts and designers at the disposal of hospitals.

"There is enormous demand" for help, the company's boss Jos Burger told AFP, noting that the technology can be used to print valves for the ventilators.

In hard-hit eastern France, a workshop at the University of Belfort-Montbeliard is working, on an open-collaboration basis, on a ventilator prototype.

"In a crisis situation, everything can help," said Olivier Lamotte, an engineer and director of what he called a "crunch lab".

AFP / Gal ROMA

PPE Personal protective equipment


"For the past few days, people the world over have said we need to print parts for ventilators and masks," Lamotte noted.

"Our role is to test and confirm that they work. For now, we are trying to remain as informed as possible so we are not stuck if something more important has be made."

More than machines, there is a dire need for staff and their protective gear, noted Olivier de Cock, former head of the French union of anaesthesiologists and emergency room medics.

In ICUs, it is common practice to place COVID-19 patients on their stomachs, which requires five people, he explained.

"They need staff, but also protection for the staff," especially masks and goggles, he said.

25MAR2020

FAILED STATE

At least 25 dead in attack on Afghan Sikh-Hindu temple

AFP / STRSecurity personnel and journalists inspect the Sikh-Hindu temple in Kabul, Afghanistan after a deadly attack highlighting the country's ongoing security crisis

At least 25 people were killed Wednesday in an attack on a Sikh-Hindu temple in Afghanistan's capital where worshippers were offering morning prayers, the latest brutal assault claimed by the Islamic State group.

The incident, highlighting the country's ongoing violence, came several hours before Afghanistan's National Security Council announced that the Taliban and government officials would hold a historic meeting face-to-face over a prisoner exchange.

Along with a raging insurgency, impoverished Afghanistan is reeling from a massive cut in US aid while it struggles with political deadlock and rising coronavirus cases.

The Taliban denied any involvement in the latest attack, for which the Islamic State (IS) group claimed responsibility, according to the SITE intelligence group.

Witness Raju Singh Sonny told AFP a man in a police uniform burst into the temple in central Kabul, shot a guard and started attacking worshippers in the main hall.

"Several other attackers also entered the building and they were going from room to room shooting people," Sonny said.

Only a few thousand Sikhs and Hindus are estimated to reside in what is an overwhelmingly Muslim nation.

There were conflicting accounts about how many gunmen were involved, with security sources giving differing numbers, between one and four.

At least one attacker was subsequently killed by security forces in an hours-long clearing operation.

Anarkali Kaur Honaryar, a Sikh member of the Afghan parliament, told AFP about 150 people had been inside the temple, where several families also live and worshippers gather for morning prayers.

"Some people inside the temple are hiding and their phones are off," Honaryar said while the attack was ongoing.

Interior ministry spokesman Tariq Arian said 25 civilians had been killed and eight others wounded, while 80 people had been rescued. Graphic images posted online showed several bodies as well as terrified people who appeared to be Sikhs running from the scene.

"Such cowardly attacks on the places of religious worship of the minority community, especially at this time of (the coronavirus) pandemic, is reflective of the diabolical mindset of the perpetrators and their backers," the Indian foreign ministry said in a statement.

Sikhism and Hinduism are rooted in India.

- Afghan leaders' 'failure' -

AFP / STRAfghan security personnel carried out an hours-long clearing operation, killing at least one attacker

IS has a history of targeting Afghan Sikhs and Hindus.

In recent months, the jihadist group has suffered mounting setbacks after being hunted by US and Afghan forces as well as Taliban offensives targeting their fighters, but it still retains the ability to launch major assaults on urban centres.

To add to Afghanistan's woes, Washington slashed the amount of aid to the country this week after President Ashraf Ghani and his rival Abdullah Abdullah, who has also proclaimed himself president, failed to resolve their standoff.

Following a visit to Kabul, US Secretary of State Mike Pompeo said the US would immediately cut $1 billion and was prepared to pull another $1 billion in 2021.

The US and the Taliban signed a deal last month that was supposed to pave the way for talks between the Afghan leadership and the insurgents, but with Kabul unable to agree who is in government, the talks stalled.

The issue of the prisoners has been a major sticking point in the weeks since the signing.

But on Wednesday Afghanistan's National Security Council said the Taliban and Ghani's government would meet to discuss an initial release of 100 insurgent prisoners by March 31.

It is believed that it will be the first time ever that the Islamist extremist Taliban and Ghani's government have met in an official capacity.

"To carry out these further discussions, a Taliban team will meet with the government face-to-face in Afghanistan in the coming days," the NSC said.

Zalmay Khalilzad, the US negotiator who brokered the US-Taliban deal, confirmed on Twitter that "prisoner releases by both sides will start March 31."

"This is a positive development," he said.

The United States, hoping to pull its thousands of remaining troops out of Afghanistan to end 18 years of involvement, has said the coronavirus pandemic makes prisoner releases urgent.

In Washington on Wednesday, Pompeo called the temple attack "horrific" and reiterated his frustration at the failure to bridge the divide between Ghani and Abdullah.

But he said both -- plus Taliban negotiator Mullah Baradar -- were committed to a peaceful solution to end Afghanistan's years of war.

Pompeo said it's time for the political process to begin "with all the Afghans coming together around the table."

He added: "I'm still optimistic that we can get there."

Virus panic grips Rohingya camps in Bangladesh

AFP/File / SUZAUDDIN RUBEL

Rohingya refugees gather in a market area of the Kutupalong refugee camp in Bangladesh on March 24, 2020 -- "social distancing" to protect against the coronavirus pandemic is "virtually impossible", an NGO said

The sewage-soaked alleys and cramped canvas and bamboo shacks that house one million Rohingya refugees in Bangladesh are a horrifying scene for experts watching the coronavirus pandemic creep closer.

The wretched conditions in the camps, where most of the stateless Muslims arrived in 2017 to escape a Myanmar military clampdown across the nearby border, are fertile ground for any disease.

The public in other countries are being told to keep two metres (six feet) apart. That is the width of most paths in Kutapalong, the world's biggest refugee camp with 600,000 Rohingya, that are clogged each day with people out on the daily hunt for food and fuel.

Masks that have become a daily essential in much of the world are rarely seen. Sanitizer is unheard of.

Each shack is barely 10 square metres (12 square yards) and they are overcrowded with up to 12 people.

"You can hear your next-door neighbour breathing," said one aid worker.

Social distancing is "virtually impossible" in the camps, Bangladesh head of Doctors Without Borders Paul Brockman said

"The scale of the challenge is immense. Vulnerable populations such as the Rohingya will likely be disproportionately affected by COVID-19," the illness caused by new coronavirus, he told AFP.

- Virus blackout -

Bangladesh has reported only a handful of coronavirus deaths and less than 50 cases but the public and experts fear there are many more.

The Rohingya barely know about the disease as the government cut off most internet since late last year under measures to clamp down on the refugees.

Fears have mounted, though, since a Rohingya family of four who returned from India last week was quarantined at a UN transit centre for testing, officials said.

AFP/File / SUZAUDDIN RUBEL

Vulnerable populations such as the Rohingya -- pictured at the world's biggest refugee camp, Kutupalong -- will likely be disproportionately affected by COVID-19 illness, said Paul Brockman of Doctors Without Borders

A Bangladeshi woman in nearby Cox's Bazar has also tested positive for new coronavirus, adding to nerves.

"We are extremely worried. If the virus reaches here, it will spread like wildfire," said Rohingya community leader Mohammad Jubayer.

"A lot of aid and local community workers people enter the camps every day. Some diaspora Rohingya have also returned in recent days. They may be carrying the virus," he said.

Camp resident Lokman Hakim, 50, expressed deep concern at the lack of preventive measures in the camps.

"We have received soap and been told to wash our hands. And that's it," Hakim said.

Another community leader, Sayed Ullah, said there was "much ignorance and misinformation" about the virus because of the internet shutdown.

"Most of us don't know what this disease is about. People have only heard it has killed a lot of people. We don't have the internet to know what is happening," he said.

"We are relying on the mercy of Allah," he added.

The United Nations, which has used volunteers and aid workers to launch hand-washing and hygiene campaigns in the camps, has urged the government to restore normal internet services.

"Life-saving health interventions require rapid and effective communication," said Louise Donovan, UN spokesperson at the camps.

"Communication is key to the timely and effective management of this situation," she told AFP.

The Bangladesh refugee commissioner's office refused to say whether authorities would restore internet.

Authorities have concentrated on cutting outside access to 34 refugee camps.

"We have minimised aid activities in the camps. Only food, health and law-related work will continue," said Bimol Chakma, an official from the commissioner's office.

Rohingya living in countries hard-hit by coronavirus have been trying to warn people in the camps through phone calls from abroad.

Many expatriate Rohingya have returned to the camps without being screened.

"If they carry the virus and mingle with crowds, it would be another massacre, much bigger than what happened in 2017," said Australia-based Rohingya activist Mojib Ullah, referring to the deadly clampdown in Myanmar that UN investigators branded genocide.

Massive risks to world economy as virus battle rages

AFP / Tolga AKMEN

The current crisis is likely to be more severe than the 2008 financial 

crisis crash because it affects the entire economy

The coronavirus outbreak and resulting lockdown of billions of people threatens the global economy to the point where economists are predicting the most violent recession in recent history, perhaps even eclipsing the Great Depression.

The crash will almost certainly be accompanied by a surge in unemployment, especially in countries with weaker worker rights, such as the United States.

Ahead of Thursday's emergency virtual G20 meeting, here are the key concerns.

- RECESSION OR DEPRESSION? -

"The G20 economies will experience an unprecedented shock in the first half of this year and will contract in 2020 as a whole, before picking up in 2021," economists from the rating agency Moody's wrote on Wednesday.

Angel Gurria, head of the Organisation for Economic Co-operation and Development (OECD), told the BBC the world economy would suffer "for years".

AFP/File / Angela WEISS, Nicholas KAMM, Johannes EISELE, Frederic J. BROWN, Mandel NGAN, Eric BARADAT, MEGAN JELINGER, Saul LOEB, Andrew CABALLERO-REYNOLDS

The crash will almost certainly be accompanied by a surge in unemployment, especially in countries with weaker worker rights, such as the United States

The current crisis is likely to be more severe than the 2008 financial crisis crash because it affects the entire economy, with a collapse in supply due to the shuttering of factories and a similar crash in demand with billions of people in lockdown.

The transport and tourism sectors have been the first to feel the pain, although some such as pharmaceuticals, health equipment, sanitary products, food and online trade have seen a boost.

The collective GDP of the G20 countries is predicted to contract 0.5 percent, according to Moody's, with the US down 2.0 percent and the eurozone losing 2.2 percent.

China is expected to buck the trend and grow, but at a much-reduced rate of 3.3 percent, according to Moody's.

Most major banks believe the US has already fallen into recession, with Goldman Sachs forecasting a contraction of 3.8 percent this year and Deutsche Bank predicting the worst US slowdown since "at least World War II".

In Europe, where the PMI business activity studies for March were the worst ever recorded, the German economy minister warned of a contraction of "at least" 5.0 percent in 2020.

France's economy could shrink by 1.4 percent, according to Moody's.

Britain could fare worse, with KPMG predicting a fall of 2.6 percent, but that loss could double if the pandemic lasts until the end of the summer.

Capital Economics paints the darkest picture, warning of a possible 15 percent contraction in the second quarter, almost twice as bad as during the Great Depression of the 1930s.

- UNEMPLOYMENT -

Unemployment rates are expected to soar, particularly in countries where levels have recently been at historic lows, such as Britain and the US.

These economies have relied heavily on the boom in jobs in the "gig economy", such as taxi drivers and delivery workers, which offer little or no social protection.

Even employees on long contracts can be fired easily in the US, with economists predicting a dramatic increase in unemployment claims of between 1.0 and 3.0 million when data is released on Thursday, compared to 281,000 at present.

James Bullard, president of the St Louis Federal Reserve, has predicted unprecedented unemployment rates of 30 percent, while Europe can also expect to suffer.

"We think the unemployment rate in the eurozone will surge to about 12 percent by the end of June, giving up seven years' worth of gains in a matter of months," said David Oxley of the London-based Capital Economics, adding they expected some rebound by the end of the year.

- INFLATION -

The effect the crisis will have on prices is the source of great uncertainty, with deflationary pressure due to a collapse in demand on the one hand and potential inflationary pressure caused by devalued currencies and possible shortages on the other.

Inflation rates are low for the moment, and generally below central bank targets, particularly in Britain.

- DEBT -

Britain's current national debt of 90 percent of GDP is high, but reached "nearly 260 percent after the Second World War," Carl Emmerson of the Institute for Fiscal Studies (IFS), told AFP.

But leaders "really shouldn't be worried" by debt and deficits for the time being with financing rates at historical lows, Jonathan Portes, professor of economics at King's College London, told AFP.

They appear to be heeding the advice, with leaders from Washington to Berlin consigning fiscal orthodoxy to the dustbin and announcing budget-busting rescue plans for the economy.

Acadian Driftwood - The Band A compilation of photos and drawings depicting the events leading up to the Acadian Deportation and the song from The Band that describes some of those events

NEW BRUNSWICK, CANADA, THE OTHER BILINGUAL PROVINCE
ACADIANS WERE SHIPPED BY THE BRITISH TO FRENCH HELD LOUISIANA
GIVING RISE TO THE ZIDECO MUSICAL TRADITION AND PATOIS

Evangeline: A Tale of Acadie

Henry Wadsworth Longfellow - 1807-1882

Prelude

This is the forest primeval. The murmuring pines and the hemlocks,
Bearded with moss, and in garments green, indistinct in the twilight,
Stand like Druids of eld, with voices sad and prophetic,
Stand like harpers hoar, with beards that rest on their bosoms.
Loud from its rocky caverns, the deep-voiced neighboring ocean
Speaks, and in accents disconsolate answers the wail of the forest.

This is the forest primeval; but where are the hearts that beneath it
Leaped like the roe, when he hears in the woodland the voice of the huntsman
Where is the thatch-roofed village, the home of Acadian farmers,
Men whose lives glided on like rivers that water the woodlands,
Darkened by shadows of earth, but reflecting an image of heaven?
Waste are those pleasant farms, and the farmers forever departed!
Scattered like dust and leaves, when the mighty blasts of October
Seize them, and whirl them aloft, and sprinkle them far o'er the ocean
Naught but tradition remains of the beautiful village of Grand-Pré.

Ye who believe in affection that hopes, and endures, and is patient,
Ye who believe in the beauty and strength of woman's devotion,
List to the mournful tradition still sung by the pines of the forest;
List to a Tale of Love in Acadie, home of the happy.  

READ THE REST HERE 

Henry Wadsworth Longfellow, one of the "Fireside Poets," wrote lyrical poems about history, mythology, and legend that were popular and widely translated, making him the most famous American of his day.

QUACKS & SNAKE OIL

Fake cures, risky rumours: virus misinformation hits home

AFP/File / FETHI BELAID

A man in the US died after taking a form of choloroquine used to clean fish tanks in the mistaken belief it would protect against the coronavirus

From being duped into taking poisonous "cures", to watching businesses crumble and avoiding life-saving medication, people are suffering devastating real-world impacts of a deluge of online virus misinformation.

As the new coronavirus that has killed more than 20,000 people causes markets to crash and sets scientists scrambling for a solution, rumours and false claims are fuelling confusion and deepening the economic misery.

The effects can be tragic -- in Iran, one of the hardest-hit countries, more than 210 people died from drinking toxic alcohol after claims circulated online that it could treat or ward off COVID-19, the official Irna news agency reported.

Dangerous fake cures debunked by AFP include consuming volcanic ash and fighting infection with UV lamps or chlorine disinfectants, which health authorities say can harm the body if used incorrectly.

Another remedy that "kills the coronavirus", according to misleading social media posts, is drinking silver particles in liquid, known as colloidal silver.

AFP/File / NORBERTO DUARTENot a cure. Cocaine is among the risky fake coronavirus remedies being touted online

"I am making colloidal silver now. I have asthma and does it really work... worried/stressed over virus. Does this help if I take a teaspoon a day. New to this..." said a post by a user named Michelle in a public Facebook group, alongside a photo of a jar of water with a metal rod in it.

The side effects of taking colloidal silver can include a bluish-grey skin discoloration and poor absorption of some medicines including antibiotics, according to the US National Institutes of Health.

But this has not put some people off. An Australian man who said he regularly buys the concoction told AFP it had "sold out in my town ... but before the virus, I could always get some".

Cocaine and bleach-like solutions are also among the risky fake cures touted online. "No, cocaine does NOT protect against #COVID-19," the French government tweeted in response.

- Businesses hit hard -

As panic buying leaves supermarket shelves empty around the world, some Indian traders and farmers have had the opposite problem -- people shunning their products due to false information.

AFP / Sia KAMBOU

A sign in Abidjan reads 'Coronavirus - I check my sources before sharing news' to warn people against fake news and misinformation about the virus

Retailers in Delhi told AFP they had stocked up on Chinese-made goods such as toy guns, wigs and other colourful accessories ahead of Holi festival earlier this month.

But "misinformation about Chinese products -- that they might transmit coronavirus -- caused a downfall in the sales of Holi goods. We witnessed a reduction in sales of around 40 percent compared to previous year", said Vipin Nijhawan from the Toy Association of India.

The World Health Organization has said the virus does not last long on inanimate surfaces, so it is unlikely imported goods would remain infectious even if contaminated.

- Heart meds -

The rapid spread of information online means that when scientists discuss as-yet unproven theories, anxious patients can take unnecessary risks.

Confusion has been sparked by letters and theoretical papers published in scientific journals about whether some types of heart medication can raise the chance of developing a serious form of COVID-19.

AFP/File / Thibault Savary

Researchers are working to develop a vaccine for the new coronavirus but theoretical papers on unproven cures have sparked confusion among some of the public

This has prompted health authorities across Europe and America to advise heart patients -- already more at-risk for the disease -- to continue taking their drugs.

Carolyn Thomas, who runs a blog for women living with heart disease, said dozens of her readers had contacted her for advice after seeing tweets warning about ACE inhibitors and angiotensin receptor blockers.

"Until I get in to see my own cardiologist, I'm still taking my own drugs, even as I wonder if they are increasing my own vulnerability to catching the virus," Thomas, who is self-isolating at home in Canada, told AFP.

"I'm afraid to take them, yet I'm afraid to stop," she said.

Professor Garry Jennings, chief medical advisor for Australia's Heart Foundation, said the theoretical papers were "based on a number of factors which are all disputed" and warned that if patients stopped taking their medication there could be an upshot in heart attacks and deaths.

"In the absence of any other evidence that it's actually happening, and with the knowledge that these drugs are beneficial... it's not a good idea to stop," he said.

And a man died in the US from taking a form of chloroquine -- hailed by President Donald Trump as a potential "gift from God" remedy" -- after he took a form of the drug his wife had used to treat her pet fish.

The woman told NBC News: "I saw it sitting on the back shelf and thought, 'Hey, isn't that the stuff they're talking about on TV?'"

Banner Health, a non-profit health care provider based in Phoenix, said on its website that "a man has died and his wife is under critical care after the couple, both in their 60s, ingested chloroquine phosphate, an additive commonly used at aquariums to clean fish tanks."

Nine doctors die from coronavirus in Philippines

AFP/File / Ted ALJIBEA health worker wearing a face mask holds a placard during a protest in front of a government hospital in Manila

Nine doctors have died in the Philippines from the coronavirus, the country's top medical association said Thursday, as hospitals were overwhelmed and medics complained about a lack of protection on the front lines.

The announcement of the doctors' deaths heightened fears that the scale of the health crisis in the Philippines is much worse than is being officially reported, with the confirmed virus death toll at just 38.

The main island of Luzon, home to 55 million people, is in the second week of a lockdown to contain the spread of the disease, however medics are warning there is a surge in cases.

The Philippine Medical Association said Thursday a ninth doctor had died of the virus, and that health workers were not getting enough protection.

"If it were up to me, test the frontliners first and test them again after seven days. Doctors could be carriers themselves," Benito Atienza, vice president of the Philippine Medical Association told AFP.

Three large Manila hospitals announced Wednesday they had reached full capacity and would no longer accept new coronavirus cases.

Hundreds of medical staff are no longer accepting patients because they are undergoing 14-day self-quarantines after suspected exposure, the hospitals said.

Just under 2,000 people had been tested in the Philippines as of Tuesday from those with severe symptoms and those considered most vulnerable to COVID-19, such as the elderly, those with life-threatening ailments, and pregnant women.

Spain's female football referees on frontline of coronavirus fight

AFP / FAMILY HANDOUTNurse and semi-professional football referee Iragartze Fernandez officiating a match (L), at a hospital desk (C) and at a hospital in Bilbao during the COVID-19 coronavirus outbreak.

"I'm just doing my bit," says Iragartze Fernandez, the part-time referee turned full-time nurse who has swapped the whistle for a face-mask in the hope of helping Spain combat the deadly coronavirus.

The 26-year-old, who officiates matches in La Liga Iberdrola, the top tier of the women's game, and Segunda B, the third tier of the men's, has been practising as a nurse for five years at the Rekalde Health Centre in Bilbao.

But as the relentless spread of the virus has stretched Spain's hospitals to breaking point, Iragartze Fernandez has made her medical role full-time to help manage the rush of patients.

"When someone arrives with a cough and a fever, my job is to analyse their symptoms, while wearing full protective equipment," she told AFP.

"The risk of us transmitting the disease is high because we are constantly living next to it. That's a very stressful experience because you're always fighting against something you can't see. You're always playing at a disadvantage."

- 'I'm not Superwoman' -

Spain now has the second most deaths of any country in the world, behind only Italy, with more than 4,000 lives taken by the pandemic, according to the latest figures on Thursday.

Football has stepped forward, as coaches, players and fans have raised millions to boost the effort while clubs have offered up their first-class facilities in a bid to ease the strain.

Yet Iragartze Fernandez is among the few from the sport to take her place on the fight's frontline.

"I'm not Superwoman or anything like that," Iragartze Fernandez says. "I'm just doing my bit, like everyone else."

Spain is now 11 days into official lockdown, with another two weeks at least to come, after the state of alarm was extended earlier this week.

With people concerned, frightened and frustrated, Iragartze Fernandez says her encounters in hospital can turn ugly, something she admits she is accustomed to from her work on the football field.

"Maybe in football, we talk about it more," she says. "But as a nurse, I have to take a lot of abuse as well from people who maybe don't want to queue or who want to be examined first because they think their situation is more serious than the person next to them."

Yet Spain has shown solidarity too since the population went into collective confinement. Every night at 8pm, residents all over the country step out onto their balconies and applaud to salute the work of those in the health industry, like Iragartze Fernandez.

"All that applause every night, it's incredible," she says. "I've been working in the same medical centre for two years and to be honest, no one has ever said thank you until now. It's really heart-warming to see our work is being recognised."

- Sport 'an escape' -

Spanish football has been suspended until further notice and she misses not only the game but the distraction from a job that is now all-encompassing.

"Playing sports is usually my escape. At work, we live with the coronavirus, we rub shoulders with it. I come home, I turn on the TV and now we only talk about that," she said.

"The only thing to really disconnect is sport. It helps me forget everything."

Iragartze Fernandez is not the only one, with Judit Romano, an assistant referee in Segunda, the second tier of men's football, now working as an anesthesiologist in the resuscitation department of Oviedo's Central University Hospital of Asturias.

Elena Pelaez, a referee in La Liga Iberdrola, is working as a midwife at the Rio Carrion Hospital in Palencia.

But despite their strenuous timetables, Iragartze Fernandez said the Spanish Football Federation are keen to ensure they all stay as sharp as possible.

"They send us videos and tests with decisions to make," she said. "We also have physical exams to pass, with suggestions according to the equipment we have at home, like if we don't have elastic bands or exercise bikes. We adapt."

And she is looking forward to blowing the whistle to start her first game back. "When I think about football in the little free time I have left, I miss it," she said. "I miss matches, I miss the competition and of course most of all, refereeing. I miss all of it."