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An experimental COVID-19 vaccine currently under development by Spanish pharmaceutical firm Hipra could be effective as a booster against variants of the virus, Spain's Science Minister Diana Morant said on Tuesday.

Greece said on Tuesday it would make COVID-19 vaccinations mandatory for people aged 60 and over, a drastic step for the country grappling with a new surge in coronavirus cases.

Most emerging market currencies dipped on Tuesday on doubts over how effective COVID-19 vaccines are against the Omicron variant, while a gauge for stocks in the developing world was set for its biggest monthly decline in two months.

The discovery of the new Omicron coronavirus variant towards the end of November has sent markets tumbling - the culmination of a volatile month for almost every asset class globally.

The COVID-19 Omicron variant was detected in the Netherlands before two flights arrived from South Africa last week carrying the virus, Dutch health officials said on Tuesday.

The EU drug regulator said on Tuesday it could approve vaccines adapted to target the Omicron variant of the coronavirus within three to four months if needed, but that existing shots would continue to provide protection.

Wall Street's main indexes were set to fall sharply on Tuesday after a warning from vaccine maker Moderna's chief executive on the effectiveness of COVID-19 shots against the Omicron variant hammered travel, energy and banking shares.

The Dutch healthcare system scrambled to add intensive care beds for COVID-19 patients as the country registered a record weekly number of new infections on Tuesday.

A panel of expert advisers to the U.S. Food and Drug Administration will vote later on Tuesday on whether to recommend authorization of Merck & Co's antiviral pill to treat COVID-19.

The Mozambican government said on Tuesday that it had detected two cases of Omicron variant in the country, as yet another Southern African nation reports infection with the new variant.