US software firm Oracle Corp agreed to acquire medical records company Cerner for $95 per share, or around $28.3 billion in equity value, the companies announced Monday.

The deal, which is expected to close next year, will provide Oracle a stronghold in digital information systems used in hospitals and health systems and an opportunity to integrate its cloud systems into the health care industry.

The companies have "the capacity to transform health care delivery by providing medical professionals with better information—enabling them to make better treatment decisions resulting in better patient outcomes," Oracle Chairman Larry Ellison said in a statement.

Oracle CEO Safra Catz noted that health care is the largest and most important vertical market in the world, which was a $3.8 trillion industry last year in the US alone.

Oracle’s stock price was down 4.7% Monday shortly before the closing bell on the New York Stock Exchange while Cerner shares were up 0.9%./aa

New York City Mayor Bill de Blasio said Monday he expects a rapid surge in cases of the omicron coronavirus variant that may peak in a few weeks. 

"We’re going to see a really fast upsurge in cases. We’re going to see a lot of New Yorkers affected by omicron," he told a press conference via webcast.

"It’s going to be a very challenging few weeks," he added.

The mayor said people infected with the omicron variant in New York are so far experiencing mild symptoms compared to what was experienced when the original strain of the virus started spreading two years ago.

"We’ve got to defeat omicron. We’ve got to avoid shutdowns. We’ve got to avoid restrictions. We’ve got to keep moving forward. Vaccination is the key," he stressed.

Nearly 80% of the people in New York City have so far received at least one dose of a COVID-19 vaccine, while 71% are fully vaccinated.

The state of New York on Friday saw its highest single-day total of coronavirus infections since the pandemic began, reporting 21,027 positive cases./agencies

Major US stock indexes closed down by more than 1% Monday amid worries over rising cases of the omicron coronavirus variant. 

The Dow Jones Industrial Average fell 433 points, or 1.23%, to 34,932. The S&P 500 was down 52, or 1.14%, to 4,568.

The Nasdaq declined 188 points, or 1.24%, to end the day at 14,980.

New York City Mayor Bill de Blasio said earlier that he expects a rapid surge in omicron cases that may peak in a few weeks.

On Friday, New York state saw its highest single-day total for coronavirus cases since the pandemic began, reporting 21,027 positive infections.

Amid the omicron fears, the VIX volatility index, known as the fear index, rose 6.5% to 22.97.

The dollar index was down 0.05% to 96.52, but the yield on 10-year US Treasury notes rose 1.34% to 1.421%.

Precious metals fell slightly, with gold losing 0.5% to $1,789 per ounce and silver decreasing 0.4% to $22.26.

Crude prices took a dive as the omicron variant lowered the global oil demand outlook. Brent crude was trading at $71.96 per barrel with a 2.1% loss, while US benchmark West Texas Intermediate crude was at $69.11 -- a 2.5% decline./agencies

Pfizer-BioNTech announced Monday that it reached an agreement with the European Commission and its member states to provide over 200 million additional doses of Comirnaty vaccines against COVID-19.

BioNTech, founded by a Turkish immigrant couple in Germany, and its US partner Pfizer also said the details of the contract are "currently being finalized."

The announced 200 million doses will be added to the 450 million doses already planned to be delivered in 2022 based on previously signed agreements, said the statement.

So, the total number of the COVID-19 vaccine doses to be delivered to the European Commission member states by Pfizer-BioNTech next year will reach at least 650 million doses.

"This order would also cover potential vaccines adapted to the Omicron variant without additional costs, if a variant vaccine is determined to be needed and subsequently authorized or approved," the statement added.

In May, Pfizer-BioNTech agreed to supply 900 million doses to the European Commission in 2022 and 2023, with an option to request up to an additional 900 million doses.

BioNTech-Pfizer’s mRNA-based vaccine, known as Comirnaty, was the first coronavirus vaccine approved for use in the European Union.

At the beginning of the year, it already received approval for emergency use or conditional marketing authorization in more than 45 countries, including the UK, Canada, and the US.

In the EU, the vaccine is administered as a two-dose series, three weeks apart. In addition, a booster third dose is also being administered at least six months after the second dose in individuals 18 years of age and older./aa

To continue keeping its promise of protecting the Turkish public from the high cost of living, the nation’s president announced new measures on Monday.

No Turkish citizen will have to move their savings from the Turkish lira to foreign currency, declared Recep Tayyip Erdogan after chairing a Cabinet meeting in the capital Ankara.

The government is presenting a new financial alternative for citizens' savings to soothe their worries over rising exchange rates, said Erdogan.

"For exporting companies that find it difficult to present prices due to fluctuations in foreign exchange rates, they will be given an exchange rate future through the Central Bank," he explained.

He also said stoppage (deductions) on companies' dividend payments will also be lowered to 10%.

The state subsidy rate on the personal pension system will be raised significantly from 5% to 30% in order to boost its appeal, he said.

Lira gains ground

Erdogan’s remarks seemed to be welcomed by the Turkish lira, as afterwards it gained strength against the US dollar, improving from its daily high of 18.41 to 14.74 at 1821GMT, but the parity later rose to 16.43 at 1834GMT.

The new measures come in the wake of rising prices and soaring exchange rates as the government pursues its “new economic model,” which stresses opposition to high interest.

Government officials say the exchange rates ignore Turkey’s strong economic fundamentals and have blamed high prices on hoarders and global factors. The benefits of Turkey’s new approach will become clear in the next three to six months, according to Erdogan.

Erdogan also said there will be a new instrument to help people who might invest in foreign exchange get the same results while sticking to the Turkish lira.

"Investors will be encouraged to move towards Turkish lira-based assets by issuance of government bills that are indexed to public economic enterprise revenues that are transferred to the budget," he explained.

From mattress to markets

On what he calls the "under-the mattress savings" of people who withdraw their assets from Turkish banks and keep them at home, Erdogan also said these would come back into the economy.

"There are five tons of gold with a total worth of $280 billion under the mattress. New instruments will be developed with market participants in order to incorporate this into the economy," he said.

Erdogan said high inflation in Turkey will decline in a few months thanks to the Central Bank’s interest rate cuts – in line with his oft-repeated mantra: “Interest rates are the reason, inflation is the result.”

"Turkey does not have any intention, nor the need, to step back from the free market economy or foreign exchange regime," he said, hitting back at baseless rumors the government has condemned.

"This country will no longer be a haven for those who gain more money with high interest rates, nor a haven for imports," he added.

Erdogan stressed that he would not allow any steps that would lead to lower investment, employment, production, or exports.

"Turkey will no longer be a country that will mortgage its economy and politics to the outside through IMF programs," he said.

Erdogan called for all investors who have money and access to finance to invest and produce in Turkey, saying: "Now is exactly the time to move if Turkey is to climb the economic ladder."/aa

The UN humanitarian action office on Monday announced that it launched a 2022 humanitarian response plan for Somalia, seeking $1.5 billion to assist 5.5 million people in need.

The figure includes 3.2 million women and girls, 3.5 million children, 8,000 people with disabilities, and 2,000 elderly, according a statement by the UN Office for the Coordination of Humanitarian Affairs in Somalia.

"Timely and early funding is critical in saving lives now," the UN said on Twitter.

The global organization has released $17 million from its Central Emergency Response Fund, bringing the funding for Somalia this year to $52 million. It said almost $60 million have been provided by donors to Somalia humanitarian fund as well.

Some areas in Somalia are witnessing the worst drought in four decades, according to Oxfam International, a global NGO.

Somalia declared a state of humanitarian emergency due to drought in November and called for an urgent humanitarian assistance.

The UN in December called for an urgent action to address the critical need for water due to the worsening situation.

More than 2 million people in 66 districts are in acute need and will require immediate lifesaving water, sanitation and hygiene services for the next six months, according to the UN.

Among the most at risk are 1.7 million children and women who are exposed to protection risks due to limited water resources.

The worst affected regions include Gedo, Bay, Bakol, Lower Jubba, Galgadud, Mudug and parts of Bari, Nugaal, Sool, Sanaag, Togdheer and Hiraan regions.

Somalia faces third consecutive failed rainy season for the first time in over 30 years./aa

Bad weather has forced Jordan and Egypt to close five ports on the Red Sea and the Mediterranean.

Mohamed Al-Salman, the head of Jordan’s Maritime Authority, told the local Hala News website that maritime traffic and operations were suspended in the port of Aqaba.

He said wind speed reached 40 knots and high waves of 1.5 meters.

Al-Salman said navigation will be resumed at the port later Monday, but without specifying.

In Egypt, the ports of Alexandria, Dekheila, Sharm el-Sheikh and Suez have suspended maritime operations due to bad weather, according to the state-run Al-Ahram newspaper.

Egyptian authorities have also suspended study in 10 provinces, including the capital Cairo, due to bad weather conditions. Egypt has 28 provinces./aa