India and Pakistan are planning to partially reopen their economies to minimise the cost of restrictive measures imposed to halt the spread of the novel coronavirus, officials in the two countries said on Monday.
Federal Government and Sindh Government are said to be ready to devise a joint mechanism to stagger payment of due utility bills aimed at helping consumers hit by lockdown due to the outbreak of Covid-19.
The International Monetary Fund (IMF) COVID-19 Policy Response Tracker has noted that the coronavirus has been spreading rapidly since the past month in Pakistan with 4,489 confirmed cases claiming 63 deaths as of April 9, 2020.
Supreme Court of Pakistan on Monday recommended the removal of Special Assistant to the Prime Minister on Health Dr Zafar for failing to give proper response to the COVID-19 pandemic in the country.
In a major move to expedite processing of sales tax refund claims of exporters, the Federal Board of Revenue (FBR) Monday directed the chief commissioners to immediately deploy all resources for completion of process during the current week, keeping in vi
The State Bank of Pakistan (SBP) on Monday announced the auction for three-year Government of Pakistan (GoP) Ijara Sukuk to raise some Rs 225 billion in the next three months for the federal government.
The Economic Coordination Committee (ECC) of the Cabinet on Monday approved allocation of additional 200,000 metric tons of wheat for the Utility Stores Corporation (USC) from the Pakistan Agricultural Storage and Services Corporation (PASSCO) with total
Special Assistant to the Prime Minister on Information and Broadca-sting Dr Firdous Ashiq Awan said on Monday that the challenge of the coronavirus pandemic had shaken the healthcare system and the economy of the world, especially in the developing countr
In the backdrop of the federal government's ongoing drive to provide financial support to the deserving families under Ehsaas Emergency Cash Programme, Sindh is unhappy over the cash assistance by the centre and wants the funds distribution in the provinc
Prime Minister Imran Khan has appealed to the overseas Pakistanis to contribute towards the "Prime Minister's COVID-19 Pandemic Relief Fund" as the country's poor people need their support in this hour of crisis.
Power Division has convened meetings of public sector Independent Power Producers (IPPs) and Generation Companies (Gencos) and private sector IPPs on April 15 and April 16 in Islamabad aimed at exploring different ways to reduce tariff.
Oil prices gained 2% on Monday following a record deal among oil producers to cut the rapid rise in supply, a muted impact on the market as the coronavirus pandemic hammers demand.
Pakistan summoned top Indian diplomat on Monday and lodged with him a strong protest over the ceasefire violations, resulting in martyrdom of a child and injuries to four other civilians.
The Economic Coordination Committee (ECC) of the Cabinet has linked the approval of revised relending policy with the consent of newly-appointed Minister for Economic Affairs, Makhdoom Khusro Bakhtiar.
The government on Monday extended closure of border for another two weeks in the wake of outbreak of deadly coronavirus in the country. The Ministry of Interior through separate notifications ordered the sealing of Wagha border from April 16 to April 29,
The government is considering a proposal to allow export of washable cloth masks/anti-dust pollution masks, which are not currently banned under export policy restricting export of surgical masks or N-95 masks.
Pakistani scientists have achieved a significant breakthrough in the fight against Covid-19 as Dow University's research team has prepared intravenous immunoglobulin (IVIG) with plasma obtained from recovered patients of Coronavirus through which Covid-19
A Pakistan Army aircraft - Mushaq - crashed on Monday near Gujrat during a routine training mission, according to the military's media wing. The Inter-Services Public Relations (ISPR) said Major Umer, an instructor pilot, and Lieutenant Faizan, a student
Special Assistant to the Prime Minister (SPAM) on Health, Dr Zafar Mirza Monday said the government is vigorously working to increase the coronavirus testing capacity from 3,000 daily to 25,000 daily, adding that within the next few weeks, Pakistan will s
Sabir Durrani says he offers prayers almost every day at a mosque in Multan. He says that often a dozen or more men are in attendance - none of them wearing protective face masks.
Pakistan Tehreek-e-Insaf (PTI) MPA Abdul Aleem Khan has again taken oath as provincial minister at an oath-taking ceremony held here at the Darbar Hall of Governor House on Monday.
This is apropos a Business Recorder editorial "Need for better social messaging" carried by the newspaper on Sunday. I fully agree with newspaper's conclusion that "The cost of laxity is unthinkable and the best bet against the lethal virus, it bea
Support is growing for debt relief to help the world's poorest, indebted nations - most of them in Africa - confront the economic havoc wreaked by COVID-19. But there is one big question mark: China.
Pakistan has the silver lining of being down the line of domino of countries affected by the health and economic fallout the virus has had on the world so far. This gives corporate Pakistan with the advantage of learning from businesses and economy lockd
In an earlier article on the subject carried by the Business Recorder on 30th March we dwelt on the economic impact of the Coronavirus on Pakistan's economy consequential to the disruption of normal economic activities.
Demonization of Muslims being part and parcel of India's Hindu revivalist narrative, they are the target of a visceral hate campaign by the 'Sang Parivar' and sections of the media ever since some in Tableeghi Jamaat's annual gathering in Delhi's Nizamu
The government must be congratulated for successfully rolling out the Rs144 billion Ehsaas Emergency Relief Program and beginning the process of providing 12 million poor families Rs12,000 each to cover a period of four months. It is precisely such steps
Pak Sarzameen Party Chairman Syed Mustafa Kamal Monday said that the alarm bell has rung as Union Councils are being sealed due to fear of COVID-19 outbreak.
Mastercard has signed an agreement with Askari Bank Pakistan for a multifaceted partnership to enhance customer experience and launch new products for a growing number of the Bank's customers.
Sindh Government will put in place a centralized mechanism for making the payments of the Benevolent Fund to the beneficiaries of the Headquarter and Districts of Provincial Government of Sindh.
As many as 1310 students of Sindh University have been able to bag poverty-need-and-merit based scholarships offered by Government of Pakistan under Prime Minister's Ehsa's Undergraduate Scholarship Programme - each worth Rs 40, 000 annually.
A special Pakistan International Airlines (PIA) flight from Karachi via Islamabad landed at the Narita International Airport, Tokyo, on Monday with over 100 Japanese and foreign nationals on board, who were stranded in Pakistan due to the coronavirus outb
Government risks "sleep walking" into a coronavirus catastrophe where death tolls reach levels seen in the West and perilously under-resourced hospitals are pushed to the brink, an opposition leader told AFP on Monday.
A two-year-old was killed while four people were injured in indiscriminate firing in the last 24 hours by the Indian army in various districts near the Line of Control (LoC), Inter-Services Public Relations (ISPR) said on Monday.
Advisor to KP CM on Information, Ajmal Wazir has said that the number of total coronavirus positive cases is 744 while 145 have been recovered and 34 died so far.
The government is expected to rationalise taxes on telecom sector in the coming budget (2020-2021) and review budget proposals of the Pakistan Telecom Authority (PTA) to harmonize service sales tax (SST) 19.5 percent and the federal excise duty (FED) 17 p
Chief of Jamiat Ulema-e-Islam Fazl (JUI-F), Maulana Fazlur Rehman on Monday said that the coronavirus pandemic has destroyed the country's economy and called upon the government to formulate a policy for post-coronavirus situation.
In the wake of the spread of coronavirus, the National Database and Registration Authority (NADRA) had closed its centres, but public can apply for renewal of their Computerized National Identity Cards (CNICs) and for other facilities through the authorit
Special Assistant to the Prime Minister on Establishment Mohammad Shehzad Arbab has taken strong exception to a news item "Civil Servant settles for demotion to SAPM" appeared in Business Recorder on April 12, 2020.
Expressing disappointment over the measures taken by the provincial government of the Punjab, the Supreme Court on Monday struck down a notification issued by the chief minister pertaining to conditional ban on inter-provincial transport.
Former vice president of the FPCCI and founder President of the Khairpur Chamber of Commerce and Industry, Shabnam Zafar, has said that the coronavirus fallout is worse for women than for men, therefore the vulnerable women should get special attention of
Mainly cloudy weather is expected in the most parts of the country in the next 24 hours, the Met said. However, rain wind-thunderstorm is likely in upper Khyber Pakhtunkhwa, Potohar region, Islamabad, upper Punjab and Kashmir. Besides, dust raising winds
Asiatic Public Relations Network (Pvt) Ltd (APR), one of the oldest PR agency in Pakistan, was shortlisted for the prestigious Gold Standard Awards 2019, in the issues management and crisis communications category. Asiatic is the only agency from Pakistan
First class cricketer Zafar Sarfraz, elder brother of late Test cricketer Akhtar Sarfraz, died here at Lady Ready Hospital (LRH) due to coronavirus on Monday. He was 50.
President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has urged the government to immediately waive CNIC requirement for sale to unregistered persons and three percent Further Tax in order to revive the economic activities and bus
The meeting of Abdul Razak Dawood, advisor to the prime minister on commerce, with the tax authorities at the Federal Board of Revenue (FBR) has been rescheduled for Tuesday (today).
Balochistan High Court (BHC) on Monday declared Special Assistants to the Chief Minister Balochistan Act 2018 null and void. According to details, Balochistan High Court heard a plea against appointments of Special Assistants to Chief Minister of Balochis
In a huge relief to the federal government, the Islamabad High Court (IHC) on Monday rejected a petition challenging the creation of "Tiger Force" to help the government in relief operation across the country in the wake of coronavirus outbreak.
The United States on Monday welcomed the latest development in the Afghan peace process, following the Taliban and the Afghan government released some of the prisoners held in each other's captivity.
Ameer Jamaat-e-Islami (JI) Karachi, Hafiz Naeem-ur-Rehman has urged the Sindh government to assure security of jobs and timely payment of factory workers' salaries in this difficult period.
Prime Minister Imran Khan on Monday launched Tele School Television Channel and said the government would utilize all its resources to improve the channel.
BankIslami Pakistan Limited has announced launching of Pakistan's 'First' Initial Public Offering (IPO) of Additional Tier 1 Modaraba Sukuk under the brand name of "BankIslami Ehad Sukuk," which will be listed and traded on Pakistan Stock Exchange (PSX).
All Pakistan Customs Agents Association (APCAA) has urged the newly appointed chairperson Federal Board of Revenue (FBR) to make suitable amendments in section 25 of Customs Act 1969 in accordance with international practices.
President/CEO NBP Arif Usmani visited various branches of the city to see first-hand preparations made by the branches for safety and security of the customers and employees of the Bank and evaluate the efficacy of the measures taken.
President of Korangi Association of Trade and Industry (KATI) Sheikh Umer Rehan has urged the State Bank of Pakistan (SBP) to offer interest-free loans to the industrial units. Sheikh Umer Rehan mentioned that the SBP has rightly showed its concerns for
Sindh Chief Minister Syed Murad Ali Shah has called for developing a national narrative and action plan to contain and combat the coronavirus or the province-wise different actions and approaches would make no difference.
Amid outbreak of COVID-19 (coronavirus) in Pakistan, the Securities and Exchange Commission of Pakistan (SECP), realizing the difficulties faced by insurance brokers, insurance surveyors, and authorized surveying officers (ASOs) in renewal of their licens
Ministry of Commerce is actively engaging with all relevant stakeholders to understand the issues related to trade and investment, in the wake of global outbreak of Covid-19, and bring out comprehensive solutions for sustaining the economic growth in the
National Assembly Speaker Asad Qaiser Monday said that a committee has been constituted to evolve a strategy and work out standard operating procedures (SOPs) after discussion and consultation with the representatives of the government and opposition for
Leather Up Limited was established in 1990, as a private limited company. It was later converted into a public limited company in 1993. The company produces and exports leather related goods such as jackets, purses, wallets, laptop bags. Its export market
Sudan inked a deal on Monday with the United Nations World Food Programme to import wheat, state media reported, more than a year after the country was rocked by protests sparked by bread price hikes.
A Luxembourg court has blocked a long-running US request to transfer $1.6 billion of dollars in Iranian assets to victims of the September 11 attacks, an official statement said on Monday.
Thousands of garment workers who produce items for top Western fast fashion brands protested against unpaid wages in Bangladesh's streets Monday, saying they were more afraid of starving than contracting coronavirus.
Top global oil producers are considering slashing output by 20 million barrels a day under the terms of a deal to boost prices, US President Donald Trump said on Monday.
The Asian Development Bank said Monday it will roll out a massive $20 billion package to help developing member nations weather the economic fallout from the coronavirus pandemic.
Polish airline LOT said Monday that it would abandon its plans to take over German carrier Condor, a former subsidiary of bankrupt travel operator Thomas Cook.
Amazon said Monday it had filled the 100,000 US jobs it promised a month ago to meet demands from the coronavirus outbreak, and was ready to take on 75,000 more.
The Federal Reserve can stop deflation from striking the US economy, which already has been badly affected by the coronavirus the central bank's vice chair said Monday.
North Korean leader Kim Jong Un has carried out a major reshuffle of his State Affairs Commission, official media reported Monday, replacing more than a third of its members.
Libya's unity government said Monday its forces had seized two coastal cities between Tripoli and the Tunisian border from troops backing military commander Khalifa Haftar.
Tornadoes ripped through the southern United States, killing at least 11 people in Mississippi and leaving behind splintered buildings and downed powerlines, officials said Monday.
Gaza's Hamas-run government on Monday temporarily re-opened the border crossing with Egypt, shut due to the novel coronavirus pandemic, to allow hundreds of Palestinians to return. One-way traffic into the coastal enclave through the Rafah crossing would
Israel's former chief rabbi Eliahou Bakshi-Doron, who was known for promoting interfaith dialogue, died Sunday of the new coronavirus, the Shaare Tzedek hospital in Jerusalem said.
Germany is moving towards a progressive lifting of restrictions linked to the coronavirus outbreak as new infections fall and the number of deaths remains far below its European neighbours.
Workers in Spain's construction and manufacturing sectors cautiously returned to work Monday as the daily death toll resumed its downward trend and new infections fell to the lowest level in three weeks. One of the worst-hit countries in the world, Spain
The novel coronavirus is 10 times more deadly than swine flu, which caused a global pandemic in 2009, the World Health Organization said Monday, stressing a vaccine would be necessary to fully halt transmission.
On Thursday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,727. The traded value of metals, energy and COTS/FX was recorded at PKR 9.332 billion and the number of lots traded was 23,939.
Ukrainian wheat exports from seaports rose 20% in the week of April 4-10 even as the government tries to retain as much of the grain amid the coronavirus crisis, preliminary data from the APK-Inform consultancy showed on Monday.
Russian wheat export prices rose last week due to limits on shipments imposed by Romania, Ukraine and Moscow itself, and as the rouble strengthened against the dollar, analysts said on Monday.
Asia's gasoline crack hit a fresh record low on Monday, this time at a discount of $12.97 a barrel to Brent crude versus a discount of $12.51 a barrel in the previous session, as oversupply persisted due to lack of demand.
Northwestern European gasoline refining margins rose slightly on Thursday but remained deep in negative territory due to weak demand and swelling stocks.
A symbolic 60,000 tonne cargo of Russian wheat has set sail for Saudi Arabia from a Black Sea port seven months after conditions were set to allow the trade, three sources told Reuters on Thursday.
The Karachi Port handled 156,800 tonnes of cargo comprising 116,875 tonnes of import cargo and 39,925 tonnes of export cargo including 524 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday.
Saudi Arabia's state buyer SAGO said on Monday it bought 600,000 tonnes of feed barley at its latest international purchasing tender. The barley was purchased at an average price of $198.63 cost and freight (C&F) a tonne, it said.
Steel futures in China closed higher on Monday, with construction rebar extending gains into a fourth session, on hopes that favourable monetary policies will boost demand.
Japanese shares fell on Monday as investors worried about the impact of the coronavirus outbreak on corporate earnings, though stocks of key oil exploration firms rose after major producers finally agreed their biggest-ever output cut.
Stocks ended lower on Monday in China, as the country's new daily coronavirus cases approached a near six-week high. At the close, the Shanghai Composite index was down 0.49% at 2,783.05.
Wall Street's main indexes slipped on Monday as corporate America launches into what is expected to be a painful quarterly earnings season due to the coronavirus pandemic.
Saudi Arabia's stock market slipped for a second consecutive day on Monday, weighed down by concerns that the agreed record global cuts in oil output will not be sufficient to reduce a glut as the coronavirus pandemic hammers demand.
Indian shares fell on Monday, dragged down by financial stocks, as Asia's third-biggest economy looked set to extend a lockdown to contain the spread of the new coronavirus.
Most Southeast Asian markets wavered between small gains and losses on Monday, as lingering concerns about the coronavirus pandemic outweighed a landmark output cut by OPEC+, while the Philippines rose on hopes of monetary easing.
The rouble opened stronger on Monday, helped by rising oil prices after OPEC and allies led by Russia agreed to a record cut in output to prop up crude prices, though the coronavirus pandemic continues to haunt the Russian market.
The Indonesian rupiah was one of two emerging Asian currencies to drift higher on Monday in the run-up to a policy decision, while broader markets grappled with the economic damage from the coronavirus that pushed many countries to enforce shutdowns.
Commodity currencies slipped against their safe-haven rivals such as the dollar and yen on Monday as a record output cut agreed by OPEC and other oil producing nations failed to offset broader concerns about slumping global demand.
