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Print - 2020-03-29
Army facilitating civil admins in fighting Covid-19 spread

Army facilitating civil admins in fighting Covid-19 spread

In order to facilitate the civil administration in combating the spread of coronavirus and enforcing the social distancing policy, army has been deployed in aid of civil power in the federal capital, 108 districts of the provinces, the Gilgit-Baltistan as
Published 29 Mar, 2020 12:00am
Wuhan cautiously reopens

Wuhan cautiously reopens

More than 30,000 people have died worldwide in the coronavirus pandemic, two-thirds of them in Europe, according to an AFP tally at 1900 GMT on Saturday.
Published 29 Mar, 2020 12:00am
Chinese in Hyderabad tests positive

Chinese in Hyderabad tests positive

Another coronavirus case on Saturday has emerged in Hyderabad, bringing the number of cases to three in the district. According to the MS Civil Hospital, a Chinese national was tested positive for the deadly virus and other seven suspects were tested nega
Published 29 Mar, 2020 12:00am
Pakistan, UK vow to work closely

Pakistan, UK vow to work closely

Pakistan and the United Kingdom on Saturday vowed to work closely in fight against coronavirus for effective containment of the outbreak and concurred that enhanced global cooperation was key to combat the pandemic.
Published 29 Mar, 2020 12:00am
Factors behind low number of positive cases listed

Factors behind low number of positive cases listed

Lack of adequate facilities to test even those at great risk for COVID-19 coupled with general reluctance to have oneself tested for coronavirus are cited as some of the main reasons for the visibly low number of reported coronavirus cases in Pakistan in
Published 29 Mar, 2020 12:00am
China's experts to help government combat coronavirus

China's experts to help government combat coronavirus

A special Chinese plane, carrying relief assistance from the Chinese government and a group of medical professionals, arrived here Saturday to assist Pakistan in the fight against the coronavirus pandemic.
Published 29 Mar, 2020 12:00am
Launch of new Tax Directory delayed

Launch of new Tax Directory delayed

The launching of the new Tax Directory of parliamentarians and for all taxpayers including tax payments made by public representatives, members of the National Assembly and the Senate, as well as corporate entities and individuals has been delayed.
Published 29 Mar, 2020 12:00am
Squash legend Azam Khan passes away

Squash legend Azam Khan passes away

Squash legend Azam Khan passed away in United Kingdom on Saturday. Azam was one of the greatest squash players of all time, winning four consecutive British Open titles from 1959 - 1962. His elder brother Hashim Khan was the first Pakistani to win British
Published 29 Mar, 2020 12:00am
Trump invokes defense powers to order GM to produce ventilators

Trump invokes defense powers to order GM to produce ventilators

President Donald Trump issued a federal order Friday to force auto giant General Motors to manufacture ventilators, as supplies of the crucial hospital equipment grow short and coronavirus infections mount across the country.
Published 29 Mar, 2020 12:00am
PBC, SCBA dismayed by appeal against IHC order about UTPs

PBC, SCBA dismayed by appeal against IHC order about UTPs

The Pakistan Bar Council (PBC) and the Supreme Court Bar Association (SCBA) have expressed dismay over the filing and immediate fixation for hearing of an appeal against the Islamabad High Court (IHC) order to release 408 under-trial prisoners (UTPs) from
Published 29 Mar, 2020 12:00am
PCAA declines Qatar Airways' request for further extension

PCAA declines Qatar Airways' request for further extension

Pakistan Civil Aviation Authority (PCAA) has declined the request of Qatar Airways to allow international flight operations to/from Pakistan until April 30, 2020. According to the documents, PCAA has allowed Qatar Airways to continue its scheduled interna
Published 29 Mar, 2020 12:00am
Expert underscores need for renegotiating IMF conditionalities

Expert underscores need for renegotiating IMF conditionalities

The government needs to renegotiate with the International Monetary Fund (IMF) the terms and conditions of $6 billion Extended Fund Facility (EFF) based on demand compression, subsequent to coronavirus outbreak and the resultant lockdown to prop up demand
Published 29 Mar, 2020 12:00am
FBR urged to stop recovery proceedings for April

FBR urged to stop recovery proceedings for April

The Federal Board of Revenue (FBR) should immediately issue a circular or general order to all its field officers to temporarily stop recovery proceedings or passing different orders against the taxpayers for April 2020.
Published 29 Mar, 2020 12:00am
PM finalises mechanism for 'Coronavirus Relief Tiger Force'

PM finalises mechanism for 'Coronavirus Relief Tiger Force'

Prime Minister Imran Khan on Saturday chaired a meeting to finalise a mechanism to be adopted for 'Coronavirus Relief Tiger Force'- a volunteer programme aimed at carrying out activities at the time of the pandemic.
Published 29 Mar, 2020 12:00am
What's in store?
Letters

What's in store?

The researchers in the field of economics and finance are still struggling to determine exact causes behind the Great Depression. The reasons behind the 2008 global meltdown or 2009 world Recession are too well known. The recession that is shaping up now
Published 29 Mar, 2020 12:00am
Hot money and high interest rates: trade-offs?
Articles

Hot money and high interest rates: trade-offs?

Since the beginning of March'20, Pakistan's economy witnessed three economic disturbances and one expected policy revision: a) net outflow of US$ 1.3 billion from treasury bills (dubbed as 'hot money') out of the total inflow of US$ 3.43 billion inflow of
Published 29 Mar, 2020 12:00am
'Corona' realities
Articles

'Corona' realities

The world seems to be changing permanently. COVID-19 is bigger than 9/11 or 2008 global financial crisis. World living population hasn't seen such a catastrophe. It is a health crisis and has long-lasting physiological and economic implications. Global fi
Published 29 Mar, 2020 12:00am
Release of prisoners

Release of prisoners

The coronavirus is a disaster for the prisoners. Given notorious overcrowding and woeful unhygienic conditions in our jails, the lives of inmates are at unprecedentedly grave risk. And this is not specific to Pakistan; jails in many other states too face
Updated 02 Apr, 2020 09:14am
Outlining NAB's jurisdiction

Outlining NAB's jurisdiction

That the National Accountability Bureau (NAB) is increasingly viewed as ruthless but also discriminatory in its role as the country's premier anti-corruption authority is a fact that has found its best expression from a detailed judgement of Islamabad Hig
Updated 02 Apr, 2020 09:14am
Making the lockdown work

Making the lockdown work

Finally, after much confusion, lockdown began in the country primarily because the Sindh government took the lead and the Punjab government saw no better course of action, really, despite all the concerns raised by the centre. The federal government's ini
Updated 02 Apr, 2020 09:14am
Capital witnesses low crime rate

Capital witnesses low crime rate

Crime rate in the federal Capital remained relatively low during the last week as only few cases of theft and carjacking were reported to the various police stations of the city. During the last week, four cases of various kinds of theft and two cases of
Published 29 Mar, 2020 12:00am
Swabi district: Coronavirus infected areas cordoned off

Swabi district: Coronavirus infected areas cordoned off

Local police cordoned off coronavirus infected areas in Murghuz and Zaida towns of Swabi district and urged the people to stay at their homes. District Police Officer (DPO) Swabi, Imran Shahid told media that these areas were locked down in order to preve
Published 29 Mar, 2020 12:00am
231 KP schools turned into quarantine centres

231 KP schools turned into quarantine centres

Khyber Pakhtunkhwa has turned 231 schools into quarantine centres across the province due to growing cases of coronavirus infected. Many of the educational facilities have been made quarantine centres as a precautionary measure and as preparation for an u
Published 29 Mar, 2020 12:00am
Covid-19 test capacity enhanced in KP, says CM's aide

Covid-19 test capacity enhanced in KP, says CM's aide

Advisor to Khyber Pakhtunkhwa Chief Minister on Information Ajmal Wazir said on Friday that the coronavirus testing capacity of the province has been increased to 500 patients a day. Addressing a press briefing to give an update on the measures adopted to
Published 29 Mar, 2020 12:00am
Wholesale chemists apprehend shortage of drugs
Business & Economy

Wholesale chemists apprehend shortage of drugs

President Wholesale Chemist of Pakistan Atif Blu on Saturday appealed not to halt transportation of medicines due to lockdown amid coronavirus outbreak. Atif Blu asked the government to allow wholesalers and the retailers to come to the market and not to
Published 29 Mar, 2020 12:00am
'Rule of Law Index': IHC seeks report from law and justice ministry

'Rule of Law Index': IHC seeks report from law and justice ministry

The Islamabad High Court (IHC) sought report from the Ministry of Law and Justice regarding implementation of factors mentioned in the World Justice Project "Rule of Law Index". The factors of Rule of Law Index are: constraints on government powers, absen
Published 29 Mar, 2020 12:00am
Punjab reports seven new coronavirus cases

Punjab reports seven new coronavirus cases

With seven new corona positive cases, the total number of novel coronavirus cases in Punjab has reached 497, leaving the Sindh province behind with regard to the total number of such cases.
Published 29 Mar, 2020 12:00am
Rana skips court amid Covid-19 threat

Rana skips court amid Covid-19 threat

Pakistan Muslim League-Nawaz (PML-N) Rana Sanaullah skipped Saturday's court amid coronavirus fear. Rana Sanaullah was asked to appear before an anti-narcotics court today for the indictment in drugs case.
Published 29 Mar, 2020 12:00am
Shahbaz concerned at depreciation in Pak rupee

Shahbaz concerned at depreciation in Pak rupee

Expressing concern over depreciation in Pak rupee by three percent, Leader of the Opposition and PML-N President Shahbaz Sharif on Saturday said the incumbent government has failed to stabilize the economy.
Published 29 Mar, 2020 12:00am
PHMA seeks relief for export sector
Cotton & Textile

PHMA seeks relief for export sector

Amid global economic slowdown due to corona pandemic, Chaudhry Salamat Ali, Central Chairman, Pakistan Hosiery Manufacturers & Exporters Association (PHMA) mentioned that the financial losses to textile export industries are multiplying every coming day a
Published 29 Mar, 2020 12:00am
Quarantine centres: Lesco sets up control room
Energy

Quarantine centres: Lesco sets up control room

The Lahore Electric Supply Company (LESCO) has set up a control room to monitor uninterrupted electricity supply to quarantine centres in the city. Staff at the control room will perform duty in three shifts.
Published 29 Mar, 2020 12:00am
Sarwar urges people to win war against virus by staying at home

Sarwar urges people to win war against virus by staying at home

While announcing provision of masks, sanitizers and soaps to prisoners and staff of all the jails as well as free ration to 100,000 poor families in Punjab, Governor Punjab Chaudhry Mohammad Sarwar said on Saturday that war against corona cannot be won in
Published 29 Mar, 2020 12:00am
GCU to introduce online course on health

GCU to introduce online course on health

Government College University (GCU) Lahore will work with Inter University Consortium for promotion of Social Sciences Pakistan (IUCPSS), the largest network of Pakistani universities, to introduce two weeks short online certificate course on public healt
Published 29 Mar, 2020 12:00am
Canada pumps Can$200 billion into virus-stricken economy
Global Business Economy

Canada pumps Can$200 billion into virus-stricken economy

Prime Minister Justin Trudeau on Friday announced a series of measures to boost the Canadian economy, almost doubling the amount of the aid pledged just two days ago to more than Can$200 billion.
Published 29 Mar, 2020 12:00am
Small businesses become endangered in virus-stricken New York
Global Business Economy

Small businesses become endangered in virus-stricken New York

As New York becomes the epicenter of the coronavirus outbreak in the United States, even die-hard businesses are shutting down in the so-called "city that never sleeps." The losses add to the economic toll from the crisis in the US, which is fighting the
Published 29 Mar, 2020 12:00am
India's electricity use falls to lowest in five years
Energy

India's electricity use falls to lowest in five years

India's electricity use plummeted to levels last recorded in March 2015, government data showed on Saturday, due to a nationwide lockdown to arrest the spread of the coronavirus.
Published 29 Mar, 2020 12:00am
Shahbaz chairs consultative session on Covid-19 with medics

Shahbaz chairs consultative session on Covid-19 with medics

PML-N President and National Assembly opposition leader Shahbaz Sharif has demanded that patients suffering from the new coronavirus must be immediately removed from mainstream hospitals or any part thereof and instead marriage halls, schools, colleges an
Published 29 Mar, 2020 12:00am
Khaqan Abbasi moves IHC for protective bail

Khaqan Abbasi moves IHC for protective bail

Former Prime Minister Shahid Khaqan Abbasi has filed a petition in the Islamabad High Court (IHC) seeking protective bail in an illegal appointment case against him. Barrister Zafarullah Khan has filed the petition on Abbasi's behalf on Saturday.
Published 29 Mar, 2020 12:00am
Hamza files bail petition on 'ground of coronavirus'

Hamza files bail petition on 'ground of coronavirus'

Leader of Opposition in Punjab Assembly Hamza Shahbaz on Saturday approached the Lahore High Court for post-arrest bail in illegal assets/money laundering case on the ground of being vulnerable to coronavirus pandemic in prison.
Published 29 Mar, 2020 12:00am
PPA fears short supply of poultry products

PPA fears short supply of poultry products

Pakistan Poultry Association (PPA) has extended serious apprehensions on the short supply of chicken and eggs in the coming months because of extremely low consumption due to the closure of restaurants, hotels and wedding parties.
Published 29 Mar, 2020 12:00am
Youth killed in clash

Youth killed in clash

A youth was killed in a clash in Hyderabad on Saturday. Two groups clashed in Mahar Ali Housing Society located Latifabad area of Hyderabad in which they used stones and sticks. As a result, a 22-year-old youth, Abid Shaikh, suffered serious injuries and
Published 29 Mar, 2020 12:00am
SHC orders D&SJ to obtain reports on spraying in jails

SHC orders D&SJ to obtain reports on spraying in jails

The Sindh High Court (SHC) on Saturday ordered the district and sessions judges to obtain reports from jail superintendents of the province regarding spray in jails, supply of sanitizers, masks, hand gloves, screening of inmates and tests of the coronavir
Published 29 Mar, 2020 12:00am
PM's relief package welcomed
Business & Economy

PM's relief package welcomed

A former vice president of the Federation of Pakistan Chambers of Commerce and Industry, Tariq Halim, and a former president of the Khairpur Chamber of Commerce, Shabnam Zafar, have welcomed Prime Minister Imran Khan's relief package of Rs880 billion anno
Published 29 Mar, 2020 12:00am
Prices of essential kitchen items continue to soar
Commodities

Prices of essential kitchen items continue to soar

Prices of most of the essential kitchen items especially pulses, tea, ghee/cooking oil, sugar, rice and eggs have witnessed an increase during this past week as compared to the week before it, a survey carried out by Business Recorder revealed here
Published 29 Mar, 2020 12:00am
PASHA urges government to allow e-commerce deliveries
IT & Computers

PASHA urges government to allow e-commerce deliveries

Pakistan Software Houses Association for IT and ITES (PASHA) has urged the government to allow e-commerce deliveries which will help reduce social interaction, thus limiting the spread of the coronavirus.
Published 29 Mar, 2020 12:00am
Dry weather likely

Dry weather likely

The Met Office on Saturday forecast mainly dry weather in the most parts of the country in the next 24 hours. Weather in Karachi is likely to remain sunny with a maximum temperature ranging up to 34 degrees Celsius and 80 percent humidity on Sunday. "A sh
Published 29 Mar, 2020 12:00am
Earth Hour 2020 marked amid health crisis

Earth Hour 2020 marked amid health crisis

In the midst of the global COVID-19 health crisis, Earth Hour marked a moment of solidarity for the planet as global communities united and organized events digitally on Saturday. Pakistan commemorated Earth Hour 2020 completely online and the virtual eve
Published 29 Mar, 2020 12:00am
Germany's Ceconomy applies for state financing
Global Business Economy

Germany's Ceconomy applies for state financing

German electronics retailer Ceconomy is applying for state financing to mitigate the impact of the coronavirus on its business following forced shop closures. The company has decided to apply for financing from German state bank KfW to complement cost cut
Published 29 Mar, 2020 12:00am
Italian PM calls for European recovery bonds
Stocks

Italian PM calls for European recovery bonds

Italian Prime Minister Giuseppe Conte has urged the European Union to launch a "recovery bond" to help fund the response to the coronavirus outbreak, saying failure to tackle the emergency would be a "tragic mistake" for the bloc.
Published 29 Mar, 2020 12:00am
Amazon entices warehouse employees
Global Business Economy

Amazon entices warehouse employees

Amazon.com Inc is offering higher pay to recruit its own warehouse employees to pick and pack Whole Foods groceries amid rising demand and a worker shortage, according to an internal document reviewed by Reuters.
Published 29 Mar, 2020 12:00am
S&P cuts Oman rating deeper into junk, trims Bahrain's outlook
Stocks

S&P cuts Oman rating deeper into junk, trims Bahrain's outlook

Rating agency S&P has lowered crude producer Oman's sovereign ratings deeper into junk territory, citing external challenges, and changed the outlook for Bahrain's ratings to stable from positive due to the country's dependence on oil revenue.
Published 29 Mar, 2020 12:00am
Hedge funds are pouncing on companies infected by coronavirus
Stocks

Hedge funds are pouncing on companies infected by coronavirus

Hedge funds have lost billions of dollars as coronavirus has stalled the economy and sent Wall Street into a tailspin. But the financial institutions favored by the world's richest investors are plotting a recovery by betting on the markets' slump.
Published 29 Mar, 2020 12:00am
Fitch downgrades UK debt to AA-, outlook negative
Stocks

Fitch downgrades UK debt to AA-, outlook negative

Fitch Ratings on Friday downgraded Britain's debt a notch and lowered the outlook to negative, citing the "significant weakening" of public finances and damage to the economy from the coronavirus pandemic.
Published 29 Mar, 2020 12:00am
Erdogan replaces transport minister amid virus outbreak

Erdogan replaces transport minister amid virus outbreak

Turkish President Tayyip Erdogan replaced Transport Minister Mehmet Cahit Turhan in an overnight decree on Saturday, as the country battles a fast-growing coronavirus outbreak that has so far killed 92 people in just over two weeks.
Published 29 Mar, 2020 12:00am
US lab unveils portable five-minute COVID-19 test

US lab unveils portable five-minute COVID-19 test

A US-based lab has unveiled a portable test that can tell if someone has COVID-19 in as little as five minutes, it said in a statement Friday. Abbott Laboratories said the US Food and Drug Administration (FDA) had given it emergency authorization to begin
Published 29 Mar, 2020 12:00am
US civil rights leader Joseph Lowery dies

US civil rights leader Joseph Lowery dies

US civil rights leader Reverend Joseph Lowery who campaigned with Martin Luther King died on Friday aged 98. "Our beloved, Rev. Dr. Joseph Echols Lowery, made his transition peacefully at home" surrounded by his daughters, the Joseph & Evelyn Lowery Insti
Published 29 Mar, 2020 12:00am
Algeria arrests independent journalist

Algeria arrests independent journalist

An Algerian journalist was arrested on Friday, press freedom group Reporters Without Borders (RSF) said, accusing the country's government of using the coronavirus crisis to crack down on independent media.
Published 29 Mar, 2020 12:00am
Abe vows unprecedented stimulus as Tokyo coronavirus cases rise

Abe vows unprecedented stimulus as Tokyo coronavirus cases rise

Japan's Prime Minister Shinzo Abe on Saturday promised an unprecedented package of steps to cushion the world's third-biggest economy from the coronavirus pandemic, saying the country was close to a national emergency as infections surged.
Published 29 Mar, 2020 12:00am
Japan to cut inflation-linked bond sales
Stocks

Japan to cut inflation-linked bond sales

Japan's Ministry of Finance may reduce its issuance of inflation-linked Japanese government bonds in the next fiscal year, two government sources said, as inflation expectations have been hit by the coronavirus outbreak and a market selloff.
Published 29 Mar, 2020 12:00am
TSX falls, Canadian dollar up
Stocks

TSX falls, Canadian dollar up

Canada's main stock market snapped a three-day winning streak on Friday and domestic bond yields plunged as investors grew edgier about the coronavirus pandemic and the Bank of Canada slashed interest rates to near zero.
Published 29 Mar, 2020 12:00am
Wall Street tumbles as three-day surge ends
Stocks

Wall Street tumbles as three-day surge ends

Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the US economy resurfaced and the number of coronavirus cases in the country climbed.
Published 29 Mar, 2020 12:00am
March FX daily turnover hits $2.3 trillion
Money & Banking

March FX daily turnover hits $2.3 trillion

The meltdown in financial markets over the coronavirus has sparked a huge jump in foreign exchange trading volumes, with average daily turnover so far in March up 27% on February as volatility soared, CLS said on Tuesday.
Published 29 Mar, 2020 12:00am
Dollar posts biggest weekly fall since 2009
Money & Banking

Dollar posts biggest weekly fall since 2009

The dollar posted its biggest weekly decline in more than a decade on Friday, as trillions of dollars worth of stimulus efforts by governments and central banks helped temper a rout in global markets driven by the coronavirus pandemic.
Published 29 Mar, 2020 12:00am
European wheat prices pare all gains recorded previously
Commodities

European wheat prices pare all gains recorded previously

European wheat prices pared all gains recorded in the previous session on Thursday as market players viewed recent rises in Chicago and Paris as overdone in light of the expected global economic slowdown. Benchmark May milling wheat on Paris-based Euronex
Published 29 Mar, 2020 12:00am
Cotton market: Mills, ginners under pressure owing to huge losses
Cotton & Textile

Cotton market: Mills, ginners under pressure owing to huge losses

Cotton prices are coming down with the passage of time after spread of coronavirus, dealers informed on phone on Saturday. The official spot rate was unchanged at Rs8800, dealer said. Rate of seed cotton per 40kg in Sindh low quality was at Rs2800, while
Published 29 Mar, 2020 12:00am
CBOT corn futures fractionally higher
Commodities

CBOT corn futures fractionally higher

Chicago Board of Trade corn futures closed fractionally higher on Thursday, firming late in the trading session despite continued concern that a slowdown in US production of corn-based ethanol will curb demand for the grain, traders said.
Published 29 Mar, 2020 12:00am
Russia expects domestic grain prices to stabilise soon
Commodities

Russia expects domestic grain prices to stabilise soon

Russia's agriculture ministry said on Thursday it expected domestic grain prices to stabilise in the near future and did not foresee any drop in the country's supply of flour. As the coronavirus pandemic spread, Russia's neighbour, Kazakhstan this week su
Published 29 Mar, 2020 12:00am
China's February net gold imports fall over 51 percent
Commodities

China's February net gold imports fall over 51 percent

China's net gold imports via Hong Kong fell about 51.1% in February, compared with the previous month, as the coronavirus outbreak stalled activity in the country, data from the Hong Kong Census and Statistics Department showed on Thursday.
Published 29 Mar, 2020 12:00am
Fleetwood wants Ryder Cup to be 'shining light' after virus
Other

Fleetwood wants Ryder Cup to be 'shining light' after virus

Tommy Fleetwood on Saturday said he wants the Ryder Cup to provide a "shining light" for sports fans after the coronavirus. Europe's clash with the United States is scheduled to be played at Whistling Straits in September. That date remains in doubt due t
Published 29 Mar, 2020 12:00am