Philippines Electric Power and Water Utility Industry - The Omicron Disruption

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Professor Tlio de Oliveira, head of South Africa’s Center for
Epidemic Response and Innovation, said on Twitter that the
Omicron variant had an “unusual constellation of mutations”
and was very distinct from previous variants. According to
news reports, the variant has more mutations in the spike
protein—the coronavirus component that interacts with
cells—than the highly infectious COVID-19 Delta variant.
This novel Omicron variant has around 50 mutations, while
the Delta strain contains just two receptor binding domain
modifications.
The fear now is that this strain has evolved significantly
from the original that arose in Wuhan, China. The risk is that
vaccinations developed in response to the first outbreak may
be ineffective. However, a number of the mutations in this
strain have been seen before in other variants, providing
insight into their potential function in the Omicron. Although it
is still early, limitations, including travel restrictions, are being
implemented owing to the uncertainty of its potential effect.
President Joe Biden earlier decreed in late September
that firms with more than 100 employees must ensure that
their staff are properly immunized. Those who have not had
immunizations will be subjected to weekly testing. Lawsuits
were brought against this order, and the courts halted
its implementation. The Occupational Safety and Health
Administration, the regulatory body charged with executing
the policy, decided not to enforce it until a court judgement
was issued.
With the addition of this potentially harmful variant, it may
be possible to review Biden’s mandate and impose tougher
laws and regulations. Governor Kathy Hochul of New York
State proclaimed a state of emergency in response to the
Omicron strain.
Money managers and others active in the stock market are
worried. On a regulator basis, the market has been setting
new records. Due to the announcement of the prospective
health concern, there was widespread selling last November,
and the market took a knock.
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