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Print - 2020-03-28
'Clear we have entered recession': IMF chief

'Clear we have entered recession': IMF chief

The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva said Friday.
Published 28 Mar, 2020 12:00am
Britain's PM Johnson has coronavirus

Britain's PM Johnson has coronavirus

British Prime Minister Boris Johnson has tested positive for coronavirus and is self-isolating at his Downing Street residence but said he would still lead the government's response to the accelerating outbreak.
Published 28 Mar, 2020 12:00am
Pakistan seeking assistance under RFI: IMF chief

Pakistan seeking assistance under RFI: IMF chief

Pakistan has requested the International Monetary Fund (IMF) for financial assistance under the Rapid Financing Instrument (RFI), which will allow the government to address additional and urgent balance of payments needs and support social protection, dai
Published 28 Mar, 2020 12:00am
'Corona tiger force' to deliver food: PM

'Corona tiger force' to deliver food: PM

Prime Minister Imran Khan on Friday said that the federal and the provincial governments had decided in the National Coordination Committee (NCC) to exempt the goods transport from the lockdown to ensure supply of essential commodities.
Published 28 Mar, 2020 12:00am
SECP, FBR relax different regulatory deadlines

SECP, FBR relax different regulatory deadlines

To facilitate companies and businesses in dealing with the current crises due to the COVID-19 pandemic, the Securities and Exchange Commission of Pakistan (SECP) and the Federal Board of Revenue (FBR) has relaxed different regulatory deadlines, extended s
Published 28 Mar, 2020 12:00am
SPI inflation down 1.25 percent WoW

SPI inflation down 1.25 percent WoW

The SPI inflation during the week that ended March 26 against March 19 witnessed a reduction of 1.25 percent for combined income groups, ie, from 129.72 points to 128.10 points, the Pakistan Bureau of Statistic (PBS) revealed.
Published 28 Mar, 2020 12:00am
Cut in urea price to result in Rs28bn benefit to farmers

Cut in urea price to result in Rs28bn benefit to farmers

The current price reduction of urea by the domestic fertilizer plants would result in an annualized benefit of Rs 28 billion that would be passed on to the farmer community without any impact on the exchequer.
Published 28 Mar, 2020 12:00am
Two doctors in D G Khan test positive

Two doctors in D G Khan test positive

Two doctors posted at the quarantine in Dera Ghazi Khan have tested positive for the coronavirus, official sources said.
Published 28 Mar, 2020 12:00am
SRB further extends deadline for tax returns

SRB further extends deadline for tax returns

In order to facilitate the taxpayers amid the ongoing lockdown announced by the Sindh government to avoid COVID-19 spread, the Sindh Revenue Board (SRB) has further extended the last date for e-deposit and e-filing of tax returns for the tax period of Feb
Published 28 Mar, 2020 12:00am
Sell-off plan: 28 government properties delisted

Sell-off plan: 28 government properties delisted

The Privatisation Division has de-listed the sale of 28 government properties in the list of five entities to be privatised in the current financial year 2019-2020.
Published 28 Mar, 2020 12:00am
G20 leaders seek unity
Letters

G20 leaders seek unity

It is heartening to note that the world leaders through an emergency online have vowed to build a united front against the coronavirus pandemic that has triggered fears of an economic collapse with record US unemployment figures. The number of positive ca
Published 28 Mar, 2020 12:00am
COVID-19 and bankers
Articles

COVID-19 and bankers

The world still hasn't quite come to terms with the outbreak of COVID-19. World governments have made extensive preparations, implementing total lockdowns and encouraging people to practice social distancing to curb the spread of the virus. As major organ
Published 28 Mar, 2020 12:00am
Calamity
Articles

Calamity

Praying that by the time this article gets published, miraculously, the world has found a cure for the corona virus, and/or Pakistan has been able to control the epidemic.
Published 28 Mar, 2020 12:00am
Opportunities for Pakistan
Articles

Opportunities for Pakistan

International Monetary Fund (IMF) President Kristalina Georgieva warned this week that she expects a global recession this year due to the Coronavirus (Covid-19) outbreak. In a statement released by her office in Washington, the IMF chief said that since
Published 28 Mar, 2020 12:00am
Release Shakil-ur-Rehman

Release Shakil-ur-Rehman

In view of the threat Covid-19 poses to lives, a divisional bench of the Islamabad High Court (IHC), headed by Chief Justice Athar Minallah, on Thursday ordered the release of 24 suspects facing various corruption references filed by the National Accounta
Updated 28 Mar, 2020 07:59am
SBP's helping hand to exporters, borrowers

SBP's helping hand to exporters, borrowers

Central banks all over the world are using various kinds of instruments at their disposal to avoid recessionary tendencies and stimulate growth in their economies because of the spread of the devastating coronavirus and Pakistan is no exception. Realising
Updated 28 Mar, 2020 07:59am
Tribute paid to medical staff, armed forces

Tribute paid to medical staff, armed forces

The Amum Taraqqi Party (ATP) chairman, Muhammad Faiq Shah has paid rich tribute to doctors, paramedics, police, armed forces, sanitary staff, volunteers and workers who have put their lives in danger to safe others from coronavirus pandemic.
Published 28 Mar, 2020 12:00am
PTI MPA tests positive for coronavirus

PTI MPA tests positive for coronavirus

PTI Member Provincial Assembly (MPA) from Mardan, Abdul Salam Afridi has infected with coronavirus, raising the number of positive cases of the disease in Khyber Pakhtukhwa to 176.
Published 28 Mar, 2020 12:00am
KP cabinet okays Rs5bn relief package for 1.9m poor families

KP cabinet okays Rs5bn relief package for 1.9m poor families

The provincial cabinet of Khyber Pakhtunkhwa Friday approved a relief package for 1.9 million poor families and announced a relief of Rs5 billion in provincial taxes in wake of the affects of the coronavirus on the life of poor families and business commu
Published 28 Mar, 2020 12:00am
UTPs release: IHC summons secretary law ministry today

UTPs release: IHC summons secretary law ministry today

The Islamabad High Court (IHC) Friday summoned secretary Ministry of Law on March 28 (today) to explain why government officials were giving wrong and misleading information about its order to release under trial prisoners (UTPs).
Published 28 Mar, 2020 12:00am
Residents of twin cities stay indoors for 5th consecutive day

Residents of twin cities stay indoors for 5th consecutive day

Like other parts of the country residents of twin cities of Islamabad and Rawalpindi stayed indoors for the fifth consecutive day following government ordered a lockdown to contain the rising number of coronavirus cases in the country.
Published 28 Mar, 2020 12:00am
Seven coronavirus cases detected in Larkana

Seven coronavirus cases detected in Larkana

Seven coronavirus positive cases were detected after testing 83 suspected patients who were brought to the quarantine established at the Areeja Campus of the Shaheed Benazir Bhutto Medical University (SMBBMU) here on Friday.
Published 28 Mar, 2020 12:00am
Raincoats and rubber boots for aid workers of Edhi Foundation

Raincoats and rubber boots for aid workers of Edhi Foundation

Country's biggest charity, famous for its emergency services for the poor, is kitting staff out in rain coats and rubber boots in the battle against the coronavirus as it can't get hold of proper personal protective equipment, the organization says.
Published 28 Mar, 2020 12:00am
BMP voices concern over rising dollar
Business & Economy

BMP voices concern over rising dollar

Secretary-General of the Businessmen Panel (BMP), Ahmad Jawad, has said trade bodies must alert the economic managers on the rising cost of dollar "as with devaluation, there is inflation. When there is inflation, your disposable income vanishes, which af
Published 28 Mar, 2020 12:00am
Sharjeel seeks help of businessmen, philanthropists during lockdown

Sharjeel seeks help of businessmen, philanthropists during lockdown

The MPA Sharjeel Inaam Memon who is also the focal person for combating Coronavirus in District Hyderabad appealed to the business community, philanthropists and social organisations to help people downtrodden and ensure provision of ration during the loc
Published 28 Mar, 2020 12:00am
78 prisoners freed from Balochistan jails

78 prisoners freed from Balochistan jails

Seventy eight prisoners were released from different jails of Balochistan province on Friday. The provincial government has ordered remission of two months in jail term of all prisoners and the IGP Jails following this order released 78 prisoners. Of them
Published 28 Mar, 2020 12:00am
SHC rules out blanket release of prisoners on sole ground of coronavirus

SHC rules out blanket release of prisoners on sole ground of coronavirus

The Sindh High Court (SHC) on Friday sought a report from the provincial government on steps taken to prevent the spread of the coronavirus in prisons after ruling out blanket release of prisoners from jails on the sole ground of the coronavirus as the ru
Published 28 Mar, 2020 12:00am
Five members of a family killed in roof collapse

Five members of a family killed in roof collapse

Five persons of the same family were killed when roof of a dilapidated house collapsed in village 71-EB near Arifwala, a tehsil of Pakpattan District in the Punjab province in the wee hours of Friday.
Published 28 Mar, 2020 12:00am
Flour sale points set up in Lahore
Commodities

Flour sale points set up in Lahore

To ensure an adequate supply of 'atta' in the event of lockdown, the Lahore administration has set up 25 sale points in various parts of the provincial capital. Trucks loaded with 'atta' bags will be placed at the designated sales points, said District Co
Published 28 Mar, 2020 12:00am
LHC directs government to ensure smooth supply of flour, food items

LHC directs government to ensure smooth supply of flour, food items

The Lahore High Court on Friday observed that the government should have taken appropriate precautionary measures the moment neighbouring China was hit by the pandemic, and also directed the Punjab government to ensure smooth supply of flour and food item
Published 28 Mar, 2020 12:00am
Lockdown: LPG consumers run from pillar to post
Energy

Lockdown: LPG consumers run from pillar to post

Despite the issuance of directives by the ministry of energy (petroleum division) and the Punjab government, the local city district administration is not allowing the LPG sellers to open their shops which has multiplied the sufferings of people across th
Published 28 Mar, 2020 12:00am
BoK approves final cash dividend of Rs 0.5 per share
Money & Banking

BoK approves final cash dividend of Rs 0.5 per share

The 29th Annual General Meeting (AGM) of the Bank of Khyber was held on March 27 at Peshawar electronically via Videocon in view of the recent outbreak of the COVID-19. Meeting was attended by the, Directors, CEO, minimum numbers of shareholders and some
Published 28 Mar, 2020 12:00am
Faisalabad sans Covid-19 case: DC

Faisalabad sans Covid-19 case: DC

Deputy Commissioner Muhammad Ali has said that Al Hamdolillah currently there is no patient of coronavirus in Faisalabad district however, till 13 suspected reports came negative out of the 26 suspected corona patients.
Published 28 Mar, 2020 12:00am
Dollar pulls back in Asia as risks ebb
Money & Banking

Dollar pulls back in Asia as risks ebb

The dollar was on track for its biggest weekly fall in more than a decade on Friday as a series of stimulus measures around the world, including a $2.2 trillion US package, helped temper a rout in global markets triggered by the coronavirus pandemic.
Published 28 Mar, 2020 12:00am
Dollar drops broadly in New York
Money & Banking

Dollar drops broadly in New York

The dollar dropped broadly on Thursday after an unprecedented rise in jobless claims led investors to anticipate that the US government and Federal Reserve would take new steps to stimulate the economy.
Published 28 Mar, 2020 12:00am
Turkey's lira slides
Money & Banking

Turkey's lira slides

Turkey's lira tumbled nearly 1% on Friday as coronavirus cases surge and analysts predicted very little growth this year for an economy to be hit by months of disruptions to trade, tourism and domestic demand.
Published 28 Mar, 2020 12:00am
Australian, New Zealand dollar get a reprieve
Money & Banking

Australian, New Zealand dollar get a reprieve

The Australian and New Zealand dollars were boasting their best weekly performance in eight years on Friday after dire US jobs data and another pledge of unlimited easing by the Federal Reserve undermined their US counterpart.
Published 28 Mar, 2020 12:00am
PML-N devises strategy to help masses directly, says Shahbaz

PML-N devises strategy to help masses directly, says Shahbaz

Pakistan Muslim League-Nawaz president and Leader of the Opposition in the National Assembly Shahbaz Sharif has directed all the mayors and district chairmen to buckle up to protect the lives of their fellow Pakistanis and to start serving the nation with
Published 28 Mar, 2020 12:00am
NDRMF chief calls on PM

NDRMF chief calls on PM

The CEO National Disaster Risk Management Fund (NDRMF), Lt Gen Nadeem Ahmed (retd), called on Prime Minister Imran Khan here, said a press release issued on Friday.
Published 28 Mar, 2020 12:00am
Telecom sector's contribution to exchequer nosedives
Telecommunication

Telecom sector's contribution to exchequer nosedives

Telecom sector contribution to the national exchequer and the Foreign Direct Investment (FDI) in the sector are on a continuous decline, remaining Rs95 billion and $635.3 million, while registering 37 percent and 20 percent fall, respectively during 2018-
Published 28 Mar, 2020 12:00am
Ufone partners with MicroEnsure to offer 'USehat'
Telecommunication

Ufone partners with MicroEnsure to offer 'USehat'

A leading mobile phone operator (Ufone) Friday partnered with MicroEnsure to offer 'USehat' to offer affordable healthcare solution to Pakistanis providing financial safety net to customer against costs of hospitalization at any hospital across Pakistan.
Published 28 Mar, 2020 12:00am
FINCA Pakistan's response to COVID-19 pandemic

FINCA Pakistan's response to COVID-19 pandemic

As the COVID-19 (coronavirus) pandemic spreads, FINCA Pakistan, part of a global network, is playing its role to stem the spread. The Microfinance Bank has taken swift and divisive measures to ensure the health and safety of its employees, partners and cu
Published 28 Mar, 2020 12:00am
CNG prices reduced in Punjab ICT
Energy

CNG prices reduced in Punjab ICT

Spokesperson for Petroleum Division says in an official statement that there will be no change in petrol, diesel and other petroleum products' prices for the month of April 2020.
Published 28 Mar, 2020 12:00am
North Macedonia officially joins NATO

North Macedonia officially joins NATO

North Macedonia officially joined NATO on Friday, becoming the 30th member of the alliance after resolving a long-running name row with Greece.
Published 28 Mar, 2020 12:00am
Eurozone given two weeks to find virus response

Eurozone given two weeks to find virus response

EU leaders on Thursday gave eurozone finance ministers a fortnight to come up with a stronger response to the economic havoc wrought by the coronavirus pandemic.
Published 28 Mar, 2020 12:00am
Afghan government unveils negotiating team for Taliban talks

Afghan government unveils negotiating team for Taliban talks

The Afghan government has finalised a 21-member team - including five women - who will negotiate with the Taliban in upcoming talks aimed at ending Afghanistan's 18-year-old conflict, officials said Friday.
Published 28 Mar, 2020 12:00am
US cancels major Philippines war games

US cancels major Philippines war games

The US military has cancelled a large-scale exercise involving thousands of troops in the Philippines because of the coronavirus pandemic.
Published 28 Mar, 2020 12:00am
Canada objects to US plan to post troops at border

Canada objects to US plan to post troops at border

Canada opposes a plan by the United States to send troops to its northern frontier to catch border jumpers who may be carrying COVID-19, Prime Minister Justin Trudeau said Thursday.
Published 28 Mar, 2020 12:00am
New York plans more hospitals as virus death toll surges

New York plans more hospitals as virus death toll surges

New York's coronavirus death toll jumped to 519 on Friday, according to the state's governor, who announced plans to set up four more temporary hospitals to cope with the deluge of patients.
Published 28 Mar, 2020 12:00am
China and US must 'unite to fight virus': Xi tells Trump

China and US must 'unite to fight virus': Xi tells Trump

China and the United States should "unite to fight" the deadly coronavirus pandemic, President Xi Jinping said in a call with Donald Trump on Friday, as he called for the US to improve relations.
Published 28 Mar, 2020 12:00am
Couple to run Dubai balcony marathon
Other

Couple to run Dubai balcony marathon

A South African couple are to run a marathon on their Dubai balcony to be streamed online as an example of how to beat the coronavirus blues under lockdown.
Published 28 Mar, 2020 12:00am
Djokovic donates 1m euros to help Serbia combat coronavirus
Football

Djokovic donates 1m euros to help Serbia combat coronavirus

Tennis world number one Novak Djokovic said Friday he was donating one million euros ($1.1 million) to help his native Serbia buy respirators and other gear to combat the coronavirus. The player was speaking in a video conference from the southern Spanish
Published 28 Mar, 2020 12:00am
Badminton boss fires back at 'disappointing' virus criticism
Other

Badminton boss fires back at 'disappointing' virus criticism

Badminton's top official has hit back at "very disappointing" criticism after the sport was accused of putting profits before players by allowing the All England Championship to go ahead during the coronavirus crisis.
Published 28 Mar, 2020 12:00am
Diamond League postpones three more events
Other

Diamond League postpones three more events

The Diamond League postponed three more events due to the coronavirus pandemic on Friday, wiping out the entire early season calender for the elite athletics circuit.
Published 28 Mar, 2020 12:00am
India's central bank slashes interest rates
Money & Banking

India's central bank slashes interest rates

India's central bank cut interest rates sharply Friday as the coronavirus outbreak deepens fears for Asia's third largest economy, which was already battling a prolonged slowdown. The move, which came ahead of the bank's scheduled meeting next month, foll
Published 28 Mar, 2020 12:00am
US consumer sentiment near 3-1/2-year low, spending tepid
Global Business Economy

US consumer sentiment near 3-1/2-year low, spending tepid

US consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and consumer spending was sluggish in February, strengthening economists' expectations of a deep recession.
Published 28 Mar, 2020 12:00am
Asia's naphtha cracks gain; YNCC buys at discount
Energy

Asia's naphtha cracks gain; YNCC buys at discount

Asia's naphtha crack more than doubled from the previous session, hitting a three-session high of $23.83 a tonne on Thursday, as Brent crude raw material prices fell.
Published 28 Mar, 2020 12:00am