FACTBOX-Latest on the worldwide spread of the coronavirus

* China's economy contracted sharply in the second quarter, highlighting the colossal toll on activity from widespread COVID lockdowns and pointing to persistent pressure over coming months from a darkening global growth outlook. * Central banks are jacking up interest rates to tackle the highest inflation in decades, economic growth is slowing, recession looms, and financial markets are in a deep funk.

Around 25 million children around the world missed out on routine vaccinations that protect against life-threatening diseases last year, as the knock-on effects of the pandemic continue to disrupt healthcare globally. DEATHS AND INFECTIONS

* Eikon users, see COVID-19: MacroVitals https://apac1.apps.cp.thomsonreuters.com/cms/?navid=1592404098 for a case tracker and summary of the news. ASIA-PACIFIC

* Australian Prime Minister Anthony Albanese has called a snap meeting of federal and state leaders next week as he faces pressure to reinstate compensation pay for casual workers forced to isolate due to COVID-19 amid a fresh wave of infections. * The International Monetary Fund said China needs to add more fiscal and monetary policy support to combat an economic slowdown brought on by continued COVID-19 lockdowns, but less-restrictive pandemic containment policies also were needed.

EUROPE * The European Union's ombudswoman criticized the European Commission for failing to find and publish text messages between the executive's president, Ursula von der Leyen, and the head of Pfizer negotiating a massive COVID-19 vaccine deal.

AMERICAS * Canada authorized Moderna Inc's COVID-19 vaccine for babies as young as 6 months old, making it the country's first vaccine against coronavirus for children under 5, Health Canada said.

MEDICAL DEVELOPMENTS * Patients with long COVID may see some improvement after breathing pure oxygen in a high-air-pressure environment, according to data from a small Israeli trial.

* The European Medicines Agency identified severe allergic reactions as potential side-effects of Novavax Inc's COVID-19 vaccine, a day after the U.S. Food and Drug Administration authorized the use of the shot. ECONOMIC IMPACT

* Asian stocks hit a two-year low on Friday and were heading for a weekly loss, while the dollar was set for its third week of gains as a fresh slew of rate hikes around the world deepened concerns about the outlook for global economic growth. * China's economy contracted sharply in the second quarter, highlighting the colossal toll on activity from widespread COVID lockdowns and pointing to persistent pressure over coming months from a darkening global growth outlook.

* Central banks are jacking up interest rates to tackle the highest inflation in decades, economic growth is slowing, recession looms, and financial markets are in a deep funk. * The Bank of Japan is in no rush to withdraw its massive stimulus, with Japan's economy yet to recover to pre-pandemic levels and inflation - at slightly above its 2% target - well below that of other advanced nations.

* China's central bank stood pat on its medium-term policy rate for a sixth straight month, as expected, with investors believing that the bank intends to gradually normalize monetary policy after the easing made during COVID lockdowns. * South Korea's household debt is among the highest in the world. There are few signs yet that it poses a systemic risk to Asia's fourth-largest economy, but the country has had to offer various relief programs to borrowers since the COVID-19 pandemic hit the world two years ago.