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Print - 2020-03-24
Pillion riding banned in Sindh for 15 days

Pillion riding banned in Sindh for 15 days

The Sindh government has imposed a ban on pillion riding in Sindh for 15 days, according to a notification issued by the home department, Aaj news reported. The Sindh government on Sunday had imposed a lockdown in the province for 15 days in an attempt to
Published 24 Mar, 2020 12:00am
Number of coronavirus cases in Lahore rises to 34

Number of coronavirus cases in Lahore rises to 34

The number of coronavirus cases has reached 34 in Lahore amid unconfirmed reports about transmitting of virus at local level, raising an alarm among the health authorities. When contacted, an official of the health department said they were monitoring the
Published 24 Mar, 2020 12:00am
HRW accuses Egypt security forces of torturing children

HRW accuses Egypt security forces of torturing children

Human Rights Watch on Monday accused Egyptian security forces of torturing children in jails, saying it was typical of "the brutal security tactics" employed by the North African state. In a 43-page report, HRW and Egyptian rights group Belady documented
Published 24 Mar, 2020 12:00am
Saudi implements dusk-to-dawn curfew over coronavirus

Saudi implements dusk-to-dawn curfew over coronavirus

Streets in Riyadh were deserted Monday as Saudi Arabia implemented a nationwide dusk-to-dawn curfew to limit the spread of the new coronavirus, the latest in a series of restrictions as infections soar. Police cars warned people over loudspeakers to stay
Published 24 Mar, 2020 12:00am
Three auto plants closed

Three auto plants closed

Indus Motor Company Limited (IMCL), Pak Suzuki Motors Company Limited (PSML) and Yamaha Motor Pakistan (YMP) on Monday announced to shut plants and offices during lockdown in Sindh.
Published 24 Mar, 2020 12:00am
1.7 billion told to stay home worldwide over virus

1.7 billion told to stay home worldwide over virus

Some 1.7 billion people have been asked to stay home in over 50 countries and territories around the world as governments battle the coronavirus pandemic sweeping the globe, according to an AFP tally Monday.
Published 24 Mar, 2020 12:00am
Death toll soars to six as tally rises to 875 across country

Death toll soars to six as tally rises to 875 across country

As government has geared up its efforts to contain the spread of COVID-19, the death toll from novel coronavirus in the country rose to six on Monday, while the total number of positive cases has risen to 875 across the country. According to official figu
Published 24 Mar, 2020 12:00am
Punjab announces 14-day lockdown

Punjab announces 14-day lockdown

Punjab Chief Minister Sardar Usman Buzdar on Monday announced a 14-day lockdown in the province of Punjab as part of an effort to contain the novel coronavirus. The lockdown will remain in place until April 6, the Punjab CM told media at a news conference
Published 24 Mar, 2020 12:00am
Army says to help impose nationwide restrictions

Army says to help impose nationwide restrictions

Declaring coronavirus pandemic as "most dangerous disease the world [has] ever witnessed", director general Inter-Services Public Relations (ISPR) Maj-General Baber Iftikhar on Monday said that the armed forces were fully aware of their duty and would tak
Published 24 Mar, 2020 12:00am
Federal government calls in military

Federal government calls in military

To avoid a potential sharp spike in COVID-19 positive cases despite partial lockdowns in some provinces, the federal government Monday called in the military in aid of the civil administration nationwide.
Published 24 Mar, 2020 12:00am
Companies Act 2017: SECP relaxes regulatory deadlines

Companies Act 2017: SECP relaxes regulatory deadlines

To facilitate companies and businesses in dealing with current crises due to Covid-9 pandemic, the Securities and Exchange Commission of Pakistan (SECP) Monday relaxed the regulatory deadlines under Companies Act 2017 including 30 days extension for holdi
Published 24 Mar, 2020 12:00am
Every daily-wage earner to be given Rs 3,000 per month

Every daily-wage earner to be given Rs 3,000 per month

Prime Minister Imran Khan on Monday approved a relief package under which each one from seven million daily-wage labourers will be given Rs 3,000 per month. He was chairing a high-level meeting here about possible impact of COVID-19 on the economy, and st
Published 24 Mar, 2020 12:00am
Hafeez to replace Sarmaya Pakistan with less complicated variant

Hafeez to replace Sarmaya Pakistan with less complicated variant

Prime Minister's Advisor on Finance and Revenue Dr Abdul Hafeez Shaikh is all set to replace Sarmaya Pakistan, a brainchild of former Minister for Finance, Asad Umar (now Minister for Planning, Development and Special Initiatives) with a new, less complic
Published 24 Mar, 2020 12:00am
Regulators conduct mock exercise to run PSX remotely

Regulators conduct mock exercise to run PSX remotely

Taking into account the lockdown in Sindh, the Self-Regulatory Organizations (SROs) of stock market, including Pakistan Stock Exchange Limited (PSX), Central Depositary Company (CDC), National Clearing Company of Pakistan Limited (NCCPL) and the apex regu
Published 24 Mar, 2020 12:00am
MoI&P makes clever move to get EV policy under control

MoI&P makes clever move to get EV policy under control

In a clever move, Ministry of Industries and Production (MoI&P) has approached the cabinet to get control of Electric Vehicle (EV) Policy, aware that the Ministry of Climate Change (MoCC) is tabling a similar proposal soon for approval, well informed sour
Published 24 Mar, 2020 12:00am
All capital market entities will be operational today: SECP

All capital market entities will be operational today: SECP

In view of the fact that banks and stock market are vital instruments of country's financial system, the Securities and Exchange Commission of Pakistan (SECP) has announced that the all capital market entities would be operational on Tuesday, March 24. SE
Published 24 Mar, 2020 12:00am
Researchers study drug to reduce COVID-19 complications

Researchers study drug to reduce COVID-19 complications

Canadian researchers launched a study Monday into the use of a powerful anti-inflammatory drug to reduce the risks of pulmonary complications and death related to the new coronavirus. Several COVID-19 patients have had severe complications from a surge of
Published 24 Mar, 2020 12:00am
MoF seeks tax exemption on $2.5 billion foreign loans

MoF seeks tax exemption on $2.5 billion foreign loans

The Finance Ministry has sought tax exemption on foreign commercial loans of over $ 2.5 billion raised during the last one year, mostly from UAE banks, sources close to Finance Advisor told Business Recorder.
Published 24 Mar, 2020 12:00am
Sindh minister says has contracted cornavirus

Sindh minister says has contracted cornavirus

In a shocking development, Sindh Education Minister and Pakistan Peoples Party (PPP) leader Saeed Ghani revealed on Monday he has tested positive for the novel coronavirus (COVID-19). The provincial minister shared a video message on Twitter, saying he ha
Published 24 Mar, 2020 12:00am
Pompeo in highest-level talks with Taliban to break impasse

Pompeo in highest-level talks with Taliban to break impasse

US Secretary of State Mike Pompeo late Monday met Taliban leaders in Qatar in the highest-level talks ever between the two sides as he sought to break an impasse over Afghanistan through shuttle diplomacy. Pompeo flew to Qatar after a surprise visit to Ka
Published 24 Mar, 2020 12:00am
'Confronting the Covid-19 crisis'
Letters

'Confronting the Covid-19 crisis'

This is apropos a Business Recorder editorial "Confronting the Covid-19 crisis" carried by the newspaper the other day. The newspaper has argued, among other things, that "Pakistan had acted wisely when heeding the advice of Chinese authorities it
Published 24 Mar, 2020 12:00am
How serious is the coronavirus crisis in Iran?
Articles

How serious is the coronavirus crisis in Iran?

Even according to official figures, the coronavirus epidemic has killed over 1,800 people in Iran, prompting unprecedented measures that have included closing holy Shiite shrines. But could the authorities in the Islamic republic be underplaying the sever
Published 24 Mar, 2020 12:00am
Pakistan Day musings
Articles

Pakistan Day musings

Pakistan Day, March 23, 2020, passed this year in novel fashion. The coronavirus pandemic caused the cancellation of the traditional military parade on the day as well as the proliferation of symposia to reflect on the importance of the anniversary of the
Published 24 Mar, 2020 12:00am
Analysis of monetary policy statement
Articles

Analysis of monetary policy statement

The much-awaited Monetary Policy Statement (MPS) of the SBP was released a few days ago. It contains a review of the state of the economy and an assessment of the short-run prospects, based on which the Monetary Policy Committee (MPC) has decided on the p
Published 24 Mar, 2020 12:00am
Towards fair advertising

Towards fair advertising

The Competition Commission of Pakistan (CCP) may not have been able to effectively pursue its anti-cartel mandate, leading to certain market players' anti-competitive behaviour to increase profits through collusion, but it has been doing something importa
Updated 24 Mar, 2020 10:15am
PM's plea to the rich West

PM's plea to the rich West

Prime Minister Imran Khan while giving an interview to a foreign news agency warned that the coronavirus would devastate the economies of the developing countries and urged the West to write off debts to the world's poor countries. Business Recorder </
Updated 24 Mar, 2020 10:15am
Liquidity in times of crises

Liquidity in times of crises

Prime Minister's Advisor on Commerce and Industries, Razak Dawood, has done well to pre-empt growing panic in the export sector by announcing a relief package "in the coming days," geared primarily towards easing liquidity problems as more and more foreig
Updated 24 Mar, 2020 10:15am
Diamer-Bhasha Dam: Evaluation report contrary to PPRA, PEC rules

Diamer-Bhasha Dam: Evaluation report contrary to PPRA, PEC rules

The evaluation report of Diamir Basha Dam (RBD) is contrary to Public Procurement Regulatory Authority (PPRA) and Pakistan Engineering Council (PEC) rules as no consultant of international repute for design review of the dam has been appointed before awar
Published 24 Mar, 2020 12:00am
ATP chief urges nation to show unity against coronavirus

ATP chief urges nation to show unity against coronavirus

The Amun Taraqqi Party (ATP) chairman, Muhammad Faiq Shah on Monday urged the nation to show utmost unity, discipline and passion in the fight against the coronavirus pandemic across the country and globally.
Published 24 Mar, 2020 12:00am
Sufficient food stocks available, no panic-buying: Khusro

Sufficient food stocks available, no panic-buying: Khusro

Federal Minister of National Food Security and Research, Khusro Bakhtiar Monday said that sufficient food stocks were available in the country, advising the people not to go for panic-buying and hoarding. The minister was addressing a press conference alo
Published 24 Mar, 2020 12:00am
Firdous for collective efforts to tackle coronavirus

Firdous for collective efforts to tackle coronavirus

Special Assistant to the Prime Minister on Information and Broadcasting, Dr Firdous Ashiq Awan on Monday called for giving impetus to collective efforts to overcome pandemic of coronavirus. Using her Twitter account, she said the nation has to revive the
Published 24 Mar, 2020 12:00am
JUI-F suspends political activities

JUI-F suspends political activities

JUI-F chief Maulana Fazal-ur-Rehman has suspended all political parties of the party till April 5, 2020 and directed the volunteers of his party for extending their services for cooperation with the district administration in provision of relief to COVID-
Published 24 Mar, 2020 12:00am
Sherpao calls for Rs 15 billion package for each province

Sherpao calls for Rs 15 billion package for each province

The federal government must announce Rs 15 billion financial package for each province so that the federating units could arrange food and other necessary items for the poor people. This was stated by the chairman of the Qaumi Watan Party (QWP), Aftab Ahm
Published 24 Mar, 2020 12:00am
Partial lockdown observed in Peshawar

Partial lockdown observed in Peshawar

A partial lockdown was observed in the provincial metropolis Monday as precautionary measure to prevent outbreak Corona virus. However groceries, pharmacies and fruit and vegetable shops remained open to provide essential items to people.
Published 24 Mar, 2020 12:00am
Capital heading towards gradual lockdown

Capital heading towards gradual lockdown

The federal capital was heading towards a gradual lockdown on Monday night after the Interior Ministry notified the troop's deployment of Pakistan Army across Pakistan including the four provinces and Islamabad Capital Territory (ICT), as well as Azad Jam
Published 24 Mar, 2020 12:00am
Stockbrokers demand 15-day closure of bourse
Stocks

Stockbrokers demand 15-day closure of bourse

PSX Stockbrokers Association Monday demanded of the government to announce holidays for Pakistan Stock Exchange for such number of days as has been prescribed by Sindh government in its lockdown notice.
Published 24 Mar, 2020 12:00am
KE's relief: Collection of ISPA arrears deferred till end of April
Energy

KE's relief: Collection of ISPA arrears deferred till end of April

In light of the current COVID-19 crisis and the difficult situation facing Karachi, K-Electric has decided to extend further relief to the industrial sector by deferring the collection of the Industrial Support Package (ISPA) arrears till the end of April
Published 24 Mar, 2020 12:00am
Relief in port charges sought

Relief in port charges sought

The Chairman of the Standing Committee on Customs of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Shabbir Mansha Churra, who is also the Founder Chairman of Pakistan Artificial Leather Imports and Merchants Association (PALIMA), h
Published 24 Mar, 2020 12:00am
Minister pledges to get rid of caronavirus pandemic soon

Minister pledges to get rid of caronavirus pandemic soon

Sindh Minister for Information, Local Government, Housing & Town Planning, Religious Affairs, Forest & Wildlife Syed Nasir Hussain Shah has said that March 23 was the day when the Muslims of the sub-continent in the great leadership of Quaid-e-Azam Muhamm
Published 24 Mar, 2020 12:00am
Qureshi holds telephonic conversation with Maldives FM

Qureshi holds telephonic conversation with Maldives FM

Foreign Minister Shah Mehmood Qureshi held telephonic conversation with Foreign Minister Abdulla Shahid of the Maldives on COVID-19 Pandemic on Monday, said a press release. The two ministers held detailed discussions on the situation arising from the COV
Published 24 Mar, 2020 12:00am
Covid-19 outbreak: Government working on three-pronged strategy: Hafeez

Covid-19 outbreak: Government working on three-pronged strategy: Hafeez

Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh said Monday that the government was working on three-pronged strategy, aimed at containing Covid-19 virus, provision of healthcare and food at affordable rates and assistance to busin
Published 24 Mar, 2020 12:00am
Shab-e-Mairaj observed by avoiding large gatherings

Shab-e-Mairaj observed by avoiding large gatherings

Shab-e-Miraj-un-Nabi (Peace Be Upon Him) was observed across the country on Sunday night by avoiding large gatherings aiming to contain the spreading of deadly coronavirus pandemic.
Published 24 Mar, 2020 12:00am
Youngsters observe COVID-19 lockdown as fun holiday

Youngsters observe COVID-19 lockdown as fun holiday

Despite putting Sindh province into a 15-day lockdown to avoid further spread of COVID-19, the citizens appeared irresponsible on the first day of the restriction, dragging governmental drastic efforts at risk.
Published 24 Mar, 2020 12:00am
'Regulatory authorities should play due role in education sector'

'Regulatory authorities should play due role in education sector'

Former chairman Higher Education Commission of Pakistan Dr Mukhtar Ahmed said that regulatory authorities should effectively play their role in the country, especially when education sector has become an industry. While talking to Business Recorder, Dr Mu
Published 24 Mar, 2020 12:00am
Diamir-Bhasha Dam: Evaluation report contrary to PPRA, PEC rules

Diamir-Bhasha Dam: Evaluation report contrary to PPRA, PEC rules

The evaluation report of Diamir Basha Dam (RBD) is contrary to Public Procurement Regulatory Authority (PPRA) and Pakistan Engineering Council (PEC) rules as no consultant of international repute for design review of the dam has been appointed before awar
Published 24 Mar, 2020 12:00am
Punjab Telemedicine Centre of Excellence Call Centre opens

Punjab Telemedicine Centre of Excellence Call Centre opens

Inaugurating the Punjab Telemedicine Centre of Excellence Call Centre at King Edward Medical University (KEMU), Punjab Governor Chaudhry Mohammad Sarwar Monday said more than 30 doctors would ensure their presence round the clock in the centre.
Published 24 Mar, 2020 12:00am
PPP to convene APC on coronavirus soon: Kaira

PPP to convene APC on coronavirus soon: Kaira

Chairman Pakistan Peoples Party (PPP) Punjab Qamar Zaman Kaira said on Monday that the party would soon convene All Parties Conference (APC) on coronavirus crisis.
Published 24 Mar, 2020 12:00am
150 pilgrims reach PARS Faisalabad from Iran

150 pilgrims reach PARS Faisalabad from Iran

150 people have reached at Postgraduate Agricultural Research Station (PARS) Faisalabad from Iran. Divisional Commissioner Ishrat Ali, RPO Raja Rifat Mukhtar and Deputy Commissioner Muhammad Ali visited Postgraduate Agricultural Research Station (PARS) on
Published 24 Mar, 2020 12:00am
Lahore admin sets up helpline

Lahore admin sets up helpline

The Lahore administration has set up a helpline number on Whatsapp, an online messaging services, which will provide information relating to corona virus. District Commissioner Lahore Afzal Danish told the media here on Monday that the people may call on
Published 24 Mar, 2020 12:00am
Pakistan Day celebrated with simplicity

Pakistan Day celebrated with simplicity

The 80th Pakistan Day was celebrated on Monday with simplicity amid cornavirus spread in the country. Pakistan Day is celebrated each year on March 23 to mark the passage of the Lahore Resolution that led to the creation of a separate homeland for the Mus
Published 24 Mar, 2020 12:00am
Feedback on expected economic package sought
Business & Economy

Feedback on expected economic package sought

Patron-in-Chief of United Business Group (UBG) and former President of FPCCI, S M Muneer, has said that the coronavirus has had adverse effects on the economy, and to counter these effects, Prime Minister Imran Khan is going to be announcing a special eco
Published 24 Mar, 2020 12:00am
Ittehad Chemicals Limited
Brief Recordings

Ittehad Chemicals Limited

Ittehad Chemicals Limited (PSX: ICL) was established in 1962; at the time of establishment it was known as United Chemicals. It underwent nationalization in 1971, and was later denationalized in 1995 after Chemi Group of Industries got it.
Updated 24 Mar, 2020 03:48am
Harvey Weinstein tests positive for coronavirus

Harvey Weinstein tests positive for coronavirus

Disgraced Hollywood mogul Harvey Weinstein has tested positive for the novel coronavirus, US media reported Sunday. Weinstein, 68, is in prison in northern New York state after being sentenced to 23 years in jail for rape and sexual assault.
Published 24 Mar, 2020 12:00am
Pompeo says Iran supreme leader 'lies' over virus

Pompeo says Iran supreme leader 'lies' over virus

US Secretary of State Mike Pompeo on Monday accused Iran's Ayatollah Ali Khamenei of lying about the coronavirus pandemic as the Supreme Leader rejected US assistance for his hard-hit country. In a televised address Sunday, Khamenei described the United S
Published 24 Mar, 2020 12:00am
EU urges international aid for Iran in virus fight

EU urges international aid for Iran in virus fight

The EU on Monday urged the international community to send humanitarian aid to Iran to help its coronavirus fight, arguing that such steps would not breach US sanctions. The bloc is preparing to send 20 million euros' ($21.5 million) worth of humanitarian
Published 24 Mar, 2020 12:00am
Turkey using drug from China for coronavirus

Turkey using drug from China for coronavirus

Turkey's health minister said Monday that the country is using a drug sent from China on patients suffering from the novel coronavirus. "From this morning we have brought a special drug used in China which is claimed to have resulted in improvements in in
Published 24 Mar, 2020 12:00am
UN chief calls for 'immediate global ceasefire' amid pandemic

UN chief calls for 'immediate global ceasefire' amid pandemic

UN Secretary-General Antonio Guterres appealed Monday for an "immediate global ceasefire" to protect vulnerable civilians in conflict zones from the ravages of the coronavirus pandemic. "The fury of the virus illustrates the folly of war," he said in a br
Published 24 Mar, 2020 12:00am
Greece severs contact with Turkey, suspends UK flights

Greece severs contact with Turkey, suspends UK flights

Greece has suspended flights from Britain and nearly all incoming travel from Turkey, an official said Monday as the official coronavirus death toll rose to 17. Flights from Britain and all travel from Turkey, except that by Greek nationals or residents,
Published 24 Mar, 2020 12:00am
Austria, Hungary get Chinese masks, gear to fight virus

Austria, Hungary get Chinese masks, gear to fight virus

Austria and Hungary on Monday received masks and other protective gear from China to help in the battle against the new coronavirus pandemic. Two Austrian Airlines planes from Xiamen in China arrived in Vienna carrying masks and other protective gear dest
Published 24 Mar, 2020 12:00am
'Enough is enough,' Trudeau tells Canadians flouting quarantines

'Enough is enough,' Trudeau tells Canadians flouting quarantines

"Enough is enough," a frustrated Canadian prime minister said Monday in a message to Canadians flouting public health recommendations to self-isolate to prevent the spread of the new coronavirus. "We've all seen the pictures online of people who seem to t
Published 24 Mar, 2020 12:00am
Back to work in China virus epicentre as restrictions eased

Back to work in China virus epicentre as restrictions eased

People in central China where the coronavirus was first detected are allowed to go back to work and public transport is restarting, as some normality slowly returns after a two-month lockdown. The easing of restrictions in Wuhan city comes as Chinese heal
Published 24 Mar, 2020 12:00am
US-China war of words deepens over coronavirus origins

US-China war of words deepens over coronavirus origins

A war of words between Beijing and Washington over COVID-19 intensified Monday after the Chinese embassy in France suggested that the outbreak of what President Donald Trump calls the "Chinese virus" actually started in the United States.
Published 24 Mar, 2020 12:00am
Turkey dismisses eight more pro-Kurdish mayors

Turkey dismisses eight more pro-Kurdish mayors

Eight more mayors from Turkey's main pro-Kurdish party were dismissed on Monday on suspicion of links with Kurdish militants and were replaced by government-appointed trustees, the interior ministry said.
Published 24 Mar, 2020 12:00am
DR Congo ex-ministers jailed for stealing Ebola funds

DR Congo ex-ministers jailed for stealing Ebola funds

DR Congo's former health minister, who led the fight against a deadly Ebola outbreak, was sentenced to jail along with a colleague on Monday for stealing funds destined to fight the disease.
Published 24 Mar, 2020 12:00am
EU ministers suspend budget rules to fight virus impact

EU ministers suspend budget rules to fight virus impact

EU finance ministers agreed Monday to suspend stringent rules on running public deficits in the bloc in a historic first that allows member states to spend freely to tackle the impact of the coronavirus pandemic.
Published 24 Mar, 2020 12:00am
Canadian dollar rises
Money & Banking

Canadian dollar rises

The Canadian dollar strengthened against its US counterpart on Monday as the Federal Reserve announced additional measures to ease the economic impact of the coronavirus outbreak and domestic data showed a surprise increase in wholesale trade.
Published 24 Mar, 2020 12:00am
Dollar holds gains against most peers in Asia
Money & Banking

Dollar holds gains against most peers in Asia

The dollar held gains against most peers on Monday as fresh declines in stocks accelerated the flight to cash, although it lost ground against the euro and yen as US lawmakers failed to pass a stimulus package to fight the coronavirus.
Published 24 Mar, 2020 12:00am
Dollar dives towards day's lows in Europe
Money & Banking

Dollar dives towards day's lows in Europe

The US dollar fell back towards the day's lows against its rivals on Monday after the Federal Reserve said it would begin backstopping a wider range of credit, a move that fuelled a rally in risky currencies including the Australian dollar.
Published 24 Mar, 2020 12:00am
Most emerging Asian currencies slump
Money & Banking

Most emerging Asian currencies slump

Most emerging Asian currencies fell sharply on Monday, with the Indian rupee sinking to an all-time low, as investors continued hoarding dollars in a bid to stay liquid amid a worsening coronavirus epidemic.
Published 24 Mar, 2020 12:00am
South Africa's rand weakens
Money & Banking

South Africa's rand weakens

South Africa's rand weakened on Monday, threatening to break through a lifetime low against the dollar as concerns over coronavirus infections and likely stricter measures weighed on already shaky sentiment, as stocks fell.
Published 24 Mar, 2020 12:00am
Nigerian naira forwards slump
Money & Banking

Nigerian naira forwards slump

Nigeria's one-year currency forward posted its biggest fall in more than 10 years on Monday and stocks fell to an eight-year low after the central bank adjusted the naira's official rate and the country recorded its first coronavirus death.
Published 24 Mar, 2020 12:00am
Polish banks limit foreign currency withdrawals
Money & Banking

Polish banks limit foreign currency withdrawals

Polish banks have had to limit foreign currency withdrawals for customers in recent days due to cash shortages because of coronavirus-related transport curbs, but most problems are being resolved, bank lobby head Krzysztof Pietraszkiewicz said on Monday.
Published 24 Mar, 2020 12:00am