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Print - 2020-04-25
PM pays rich tributes to valiant doctors

PM pays rich tributes to valiant doctors

Prime Minister Imran Khan Saturday said the Pakistani health professionals were on the front line in the fight against Covid-19 pandemic worldwide.
Updated 26 Apr, 2020 05:08am
WHO warns over virus immunity

WHO warns over virus immunity

The World Health Organization warned on Saturday that recovering from coronavirus might not protect people from reinfection as the death toll from the pandemic approached 200,000 around the globe.
Updated 26 Apr, 2020 05:08am
SMEs: Special tax incentives likely

SMEs: Special tax incentives likely

The government is expected to grant special tax incentives to the small and medium enterprises in coming budget (2020-21) to facilitate estimated 5.2 million enterprises affected due to Coronavirus outbreak and partial lock down.
Updated 26 Apr, 2020 05:08am
Centre, provinces unitedly trying to defeat Covid-19: Firdous

Centre, provinces unitedly trying to defeat Covid-19: Firdous

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan on Saturday said the federal and all the provincial governments were together trying to defeat the coronavirus pandemic and provide relief to the vulnerable segm
Updated 26 Apr, 2020 05:08am
Doctors launch hunger strike over virus protection fears

Doctors launch hunger strike over virus protection fears

Dozens of doctors and nurses have launched a hunger strike demanding adequate protective equipment for frontline staff treating coronavirus patients, the lead organiser of the protest said Saturday.
Updated 26 Apr, 2020 05:08am
Ministries, divisions: MoF sets up desk for receiving budget orders

Ministries, divisions: MoF sets up desk for receiving budget orders

The Finance Ministry has set up a front desk in the ministry for receiving budget orders from the ministries and divisions for the next fiscal year, and has directed that only one relevant person along with summary of demands should approach the desk owin
Published 25 Apr, 2020 09:49pm
Think tank for further downward revision in policy rate

Think tank for further downward revision in policy rate

A meeting of the think tank recently formed by the prime minister to deliberate on the Covid-19-related economic downturn and mitigation of ensuing risk on Saturday, emphasized the need for further downward revision in policy rate, coupled with passing on
Published 25 Apr, 2020 09:49pm
ENT specialist dies of coronavirus

ENT specialist dies of coronavirus

Prof Dr Mohammad Javed, head of the ENT Department at the Hayatabad Medical Complex (HMC), died of the coronavirus here on Saturday.
Published 25 Apr, 2020 09:49pm
Deutsche Bank refuses to give US senators info on Trump dealings

Deutsche Bank refuses to give US senators info on Trump dealings

Deutsche Bank has declined a request by prominent US senators to provide information about the German lender's recent business dealings with President Donald Trump and his family, according to a letter this week seen by Reuters.
Published 25 Apr, 2020 09:49pm
Covid-19 emergency: Murad launches counselling & psycho-social service

Covid-19 emergency: Murad launches counselling & psycho-social service

Sindh Chief Minister Syed Murad Ali Shah launched counselling & psycho-social support service during Covid-19 emergency which could be reached on helpline 1093, web page COVIDPSS.PK and community-based psycho-social support mobile app on android and IOS.
Published 25 Apr, 2020 09:49pm
PIA incurs Rs 12 billion losses due to suspension of flights

PIA incurs Rs 12 billion losses due to suspension of flights

The Pakistan International Airlines (PIA) has incurred an estimated Rs12 billion financial losses following suspension of its flights operation worldwide; however, it has no plan, like other airlines, to lay-off its employees, high-level sources said.
Published 25 Apr, 2020 09:49pm
All 60,000 stranded nationals to be repatriated before Eid: Qureshi

All 60,000 stranded nationals to be repatriated before Eid: Qureshi

Foreign Minister Shah Mahmood Qureshi on Saturday said Pakistan had enhanced the capacity to bring back 7,000 stranded Pakistanis from abroad every week, and hoped that all the 60,000 stranded nationals would be repatriated before Eidul Fitr.
Published 25 Apr, 2020 09:49pm
Saudi Arabia abolishes flogging

Saudi Arabia abolishes flogging

Saudi Arabia has abolished flogging as a punishment, the state human rights commission said Saturday, hailing a "major step forward" in the reform programme launched by the king and his powerful son.
Published 25 Apr, 2020 09:49pm
India plans to fast-track Chinese investments after policy change

India plans to fast-track Chinese investments after policy change

India plans to fast track the review of some investment proposals from neighbouring countries such as China following concerns new screening rules could hit plans of companies and investors, three sources told Reuters on Saturday.
Published 25 Apr, 2020 09:49pm
Closed projects: MoDP&R proposes procedure to clear pending liabilities

Closed projects: MoDP&R proposes procedure to clear pending liabilities

Ministry of Planning, Development & Reforms (MoDP&R) has proposed the procedure to clear the pending liabilities of the closed development projects. The development projects approved by different forums are executed by Ministries/Divisions. As per existin
Published 25 Apr, 2020 09:49pm
Security interests with STR: SBP asks banks, MFBs, DFIs for registration

Security interests with STR: SBP asks banks, MFBs, DFIs for registration

The State Bank of Pakistan (SBP) has asked all the banks, microfinance banks and DFIs for registration of their security interests on movable assets of entities with Secured Transactions Registry (STR) under the Financial Institutions (Secured Transaction
Published 25 Apr, 2020 09:49pm
Boeing scraps $4.2 billion deal to buy Embraer commercial division

Boeing scraps $4.2 billion deal to buy Embraer commercial division

Boeing announced Saturday it was pulling out of a $4.2 billion deal to acquire the commercial plane division of its Brazilian rival Embraer. The companies had planned to form a joint venture in which Boeing would take an 80 percent stake in that division.
Published 25 Apr, 2020 09:49pm
Sindh issues SOPs for online businesses

Sindh issues SOPs for online businesses

Sindh government on Saturday allowed to resume business activities in the province with strict conditions attached to it during coronavirus lockdown.
Published 25 Apr, 2020 09:49pm
'Lives versus livelihoods?'
Letters

'Lives versus livelihoods?'

This is apropos a Business Recorder op-ed "Lives versus livelihoods?" carried by the newspaper on Thursday. The writer, Nadeem Javaid, has aptly summarized the situation in a highly impressive manner. According to him, for example, "Regrettably, we
Published 25 Apr, 2020 09:49pm
Does sunlight rapidly destroy the coronavirus?
Articles

Does sunlight rapidly destroy the coronavirus?

Does sunlight rapidly destroy the coronavirus? A White House presentation on a mysterious government study says so - but some scientists have called for caution as we await more evidence.
Published 25 Apr, 2020 09:49pm
Implementation of consumer laws big challenge
Articles

Implementation of consumer laws big challenge

There is a famous Latin term 'Caveat venditor' which means 'let the seller beware'. This phrase is in stark contrast with the widely known and used contractual phrase 'Caveat emptor' that solely puts the burden of quality and suitability of the goods befo
Published 25 Apr, 2020 09:49pm
Is the cement 'cartel' back?
Articles

Is the cement 'cartel' back?

It is widely argued that historically cement cartel existed in Pakistan. It appears that the 'cartel' is back. Last week, reportedly, there was a meeting of cement companies to jack up prices in North. Some say that how can a cartel persist with around tw
Published 25 Apr, 2020 09:49pm
Unacceptable demolition

Unacceptable demolition

Whilst the officially declared mitigation strategy against coronavirus is Stay Home, Stay Safe, Islamabad's administration has rendered hundreds of people homeless. Videos of a 'clean-up operation' posted on social media show a demolition squad tearing do
Published 25 Apr, 2020 09:49pm
Where should the parliament meet?

Where should the parliament meet?

The annual budget session is due amid the coronavirus outbreak, the question, however, is: Where should the parliament meet? The government is for virtual meetings of the two houses but the opposition is opposed to it, expressing apprehension that upcomin
Published 25 Apr, 2020 09:49pm
People throng grocery shops without any safety measures

People throng grocery shops without any safety measures

On the first day of Ramazan, the people of Lahore stubbornly defied the government's repeatedly call for social distancing to limit the spread of the deadly coronavirus as they rushed to grocery shops and street stalls to stock up food for sehri and iftar
Published 25 Apr, 2020 09:49pm
Three more die while 287 new cases detected: Murad

Three more die while 287 new cases detected: Murad

Sindh Chief Minister Syed Murad Ali has said that with detection of 287 new cases of the coronavirus in the province the tally has risen to 4,232 while three more patients died taking the total number of deaths to 78.
Published 25 Apr, 2020 09:49pm
'Indecisiveness, disunity can land country in grip of coronavirus'

'Indecisiveness, disunity can land country in grip of coronavirus'

Sindh Minister for Information, Local Government, Housing & Town Planning, Religious Affairs, Forest & Wildlife Syed Nasir Hussain Shah has said "to make sure that our health sector did face the burden it could not cope with and to ensure that our economy
Published 25 Apr, 2020 09:49pm
All Emirates Airlines staff to now don PPE
Business & Economy

All Emirates Airlines staff to now don PPE

Emirates Airlines is stepping up precautionary measures at the airport and on board to ensure the health and safety of its employees and customers. All cabin crew, boarding agents and ground staff in direct contact with passengers will now don personal pr
Published 25 Apr, 2020 09:49pm
Fishermen allowed to sail within territorial waters

Fishermen allowed to sail within territorial waters

The Sindh government has also permitted fishermen to sail their 'all kind' of boats within the territorial waters, i.e. 12 nautical miles, according to officials on Saturday.
Published 25 Apr, 2020 09:49pm
PHMEA seeks special incentives for textile export industry
Cotton & Textile

PHMEA seeks special incentives for textile export industry

Chaudhry Salamat Ali, Central Chairman, Pakistan Hosiery Manufacturers & Exporters Association has demanded the govt to rank the textile industry among top priority as it is highest foreign exchange earner and employment provider and restore the zero rati
Updated 26 Apr, 2020 04:45am
Sana Mir announces retirement from cricket
Cricket

Sana Mir announces retirement from cricket

Former skipper Sana Mir on Saturday called it a day on her glittering 15-year cricketing career during which she played 226 internationals, including 137 as captain from 2009 to 2017.
Published 25 Apr, 2020 09:49pm
FDA DG directs speedy completion of Kashmir bridge underpass

FDA DG directs speedy completion of Kashmir bridge underpass

Faisalabad Development Authority (FDA) Director General Muhammad Suhail Khawaja directed for focussing special attention on administrative and construction measures for speedy completion of Kashmir bridge underpass mega project at canal road and said that
Published 25 Apr, 2020 09:49pm
KP CM's aide tested positive for Covid-19

KP CM's aide tested positive for Covid-19

Advisor to KP CM on Local Governments and Rural Development (LG&RD), Kamran Bangash has been tested positive for coronavirus and quarantined at his residence for a period of two weeks, said an officially issued press release here Saturday.
Published 25 Apr, 2020 09:49pm
PTI's struggle more arduous than any other party: PM

PTI's struggle more arduous than any other party: PM

Prime Minister Imran Khan Saturday while recounting the decades long political struggle of Pakistan Tehreek-e-Insaf, said the party had embarked upon a mission to achieve Quaid-e-Azam Muhammad Ali Jinnah's vision.
Published 25 Apr, 2020 09:49pm
Crime rate increases in capital despite lockdown

Crime rate increases in capital despite lockdown

The incidents of carjacking, various kinds of thefts, and kidnappings have witnessed increase during the last week in the capital city, in spite of the lockdown imposed in the wake of coronavirus outbreak.
Published 25 Apr, 2020 09:49pm
Prices of Ramazan-specific food items increase

Prices of Ramazan-specific food items increase

Prices of essential kitchens items have witnessed an increasing trend during this past week compared to the week before, a survey conducted by Business Recorder revealed here on Saturday.
Published 25 Apr, 2020 09:49pm
ICT admn orders closure of all shops, food outlets at 5pm

ICT admn orders closure of all shops, food outlets at 5pm

With the number of novel coronavirus (COVID-19) cases rising in the federal capital and surrounding areas, the Islamabad Capital Territory (ICT) administration on Saturday ordered closure of all shops and food outlets at 5pm as part of the measures, aimed
Published 25 Apr, 2020 09:49pm
TME connects classroom to learner's home via MATRIX

TME connects classroom to learner's home via MATRIX

The Millennium Education TME - a leading 21st Century Education System has extended the acAcess from the classroom environment to the learner's home through 'Connecting Classrooms' via MATRIX - Learning Management System which has digitalized the learning
Published 25 Apr, 2020 09:49pm
PBC backs PMA demand to enforce complete lockdown

PBC backs PMA demand to enforce complete lockdown

Pakistan Bar Council (PBC) has supported the demand of the Pakistan Medical Association (PMA) and doctors for complete lockdown throughout the country, and enforcing the writ of the State for ensuring social distancing, in true and strict sense, at all pu
Published 25 Apr, 2020 09:49pm
IPPs: Nepra forms experts' body to prepare report
Energy

IPPs: Nepra forms experts' body to prepare report

The National Electric Power Regulatory Authority (Nepra) has constituted a committee of experts to prepare its reply on the report on Independent Power Producers (IPPs) prepared by a nine-member committee.
Updated 26 Apr, 2020 04:45am
China's steel and hot-rolled coil futures fall
Commodities

China's steel and hot-rolled coil futures fall

Steel rebar and hot-rolled coil futures in China fell on Friday, posting losses for the week, as rising output at mills outweighed the destocking pace of inventories that continued to remain at elevated levels.
Published 25 Apr, 2020 09:49pm
US natural gas futures drop on milder weather
Energy

US natural gas futures drop on milder weather

US natural gas futures dropped as much as 5.5% on Friday on forecasts of milder weather, and as shutdowns to prevent the spread of the coronavirus led to dwindling fuel demand and rising stockpiles.
Updated 26 Apr, 2020 04:45am
Traders optimistic about improvement in cotton business after Ramazan
Cotton & Textile

Traders optimistic about improvement in cotton business after Ramazan

Cotton traders are not hopeful that trading on cotton market will improve in near future despite of the fact that government had given permission to the mills to start their operations as well as allowed the traders to open their shops for limited time pe
Updated 26 Apr, 2020 04:45am
Asia's naphtha crack eases at two-day low
Energy

Asia's naphtha crack eases at two-day low

Asia's naphtha crack ended the week at a two-day low of $51.85 a tonne after hitting a two-month high in the previous session, as demand was mostly muted following a string of purchases.
Published 25 Apr, 2020 09:49pm
Venezuelan oil price falls below $10, lowest level in 20 years
Energy

Venezuelan oil price falls below $10, lowest level in 20 years

The price of Venezuelan oil has fallen to below $10 a barrel - its lowest level in more than two decades, the government said on Friday. The oil ministry said the price between Monday and Friday was 70.62 Chinese yuan - $9.90 a barrel - a level that has n
Updated 26 Apr, 2020 04:46am
One million masks purchased in Canada not useable

One million masks purchased in Canada not useable

The Canadian government said Friday that one million KN95 masks imported from China did not meet its strict standards and so could not be distributed to frontline health workers amid the coronavirus pandemic.
Updated 26 Apr, 2020 04:52am
Kanye West officially now a billionaire: Forbes

Kanye West officially now a billionaire: Forbes

Rapper Kanye West is now a billionaire thanks largely to the basketball shoes bearing his name that he developed with Adidas, Forbes magazine said Friday.
Published 25 Apr, 2020 09:49pm
Russian cargo capsule docks with ISS

Russian cargo capsule docks with ISS

A Russian cargo capsule with 2.5 tons of supplies docked with the International Space Station (ISS) on Saturday after the fastest such trip yet from earth, the national space agency Roscosmos said.
Updated 26 Apr, 2020 04:52am
Automart: car prices in Karachi
Rates

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (April 25, 2020).

Published 25 Apr, 2020 09:49pm
The Weather

The Weather

The weather report on Saturday (April 25, 2020) and the forecast for Sunday (April 26, 2020).

Published 25 Apr, 2020 09:49pm
Cotton Spot Rates
Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (April 25, 2020).

Published 25 Apr, 2020 09:49pm
'Construction Industry Development Board' to be set up

'Construction Industry Development Board' to be set up

Ministry of Planning, Development and Special Initiatives, has decided to establish Construction Industry Development Board (CIDB) as an autonomous body, allegedly to "accommodate" one of the close friends of a top man in the Ministry as Chief Executive O
Published 25 Apr, 2020 06:43am
Bank holiday

Bank holiday

The State Bank of Pakistan will remain closed for public dealing on Monday, April 27, 2020, which will be observed as "Bank Holiday" for the purpose of deduction of Zakat.
Published 25 Apr, 2020 06:43am
Rates of profit on saving schemes revised

Rates of profit on saving schemes revised

The government Friday revised rates of profit on all saving schemes and accounts of the Central Directorate of National Savings (CDNS), which would be applicable to deposits and investments made with effect from April 24, 2020.
Published 25 Apr, 2020 06:43am
Khaqan seeks time to appear before Commission

Khaqan seeks time to appear before Commission

Former prime minister Shahid Khaqan Abbasi is learnt to have written a letter to the Federal Investigation Agency (FIA) Director General seeking time to appear before the commission holding probing about sugar and wheat scam.
Published 25 Apr, 2020 06:43am
PSX ends on negative note: BRIndex100 retreats
Stocks

PSX ends on negative note: BRIndex100 retreats

Pakistan Stock Exchange Friday after moving both ways settled on a negative note. BRIndex100 lost 8.49 points or 0.25 percent to close at 3,369.49 points. BRIndex100 touched intraday high of 3,405.87 and intraday low of 3,363.95 points. Volumes stood at 1
Published 25 Apr, 2020 06:43am
SPI increases 7.9 percent YoY

SPI increases 7.9 percent YoY

The weekly inflation during week ended April 23 against April 16, 2020 on Week-on-Week (WoW) basis witnessed an increase of 0.62 percent for combine income group, from 125.16 points to 125.93 points, the Pakistan Bureau of Statistic (PBS) revealed.
Published 25 Apr, 2020 06:43am
Khokhar appointed secretary commerce

Khokhar appointed secretary commerce

The federal government Friday appointed Yousaf Naseem Khokhar as Secretary Commerce, replacing Sardar Ahmed Nawaz Sukhera.
Published 25 Apr, 2020 06:43am
Commissioners told to justify deferment of refund claims

Commissioners told to justify deferment of refund claims

The Federal Board of Revenue (FBR) Friday expressed serious displeasure over the deferment of genuine sales tax refund claims of exporters by field formations and directed the chief commissioners to give explainable reasons with evidence to justify deferm
Published 25 Apr, 2020 06:43am
World leaders launch WHO plan to curb Covid-19, US not involved

World leaders launch WHO plan to curb Covid-19, US not involved

World leaders pledged on Friday to accelerate work on tests, drugs and vaccines against COVID-19 and to share them around the globe, but the United States did not take part in the launch of the World Health Organization (WHO) initiative.
Published 25 Apr, 2020 06:43am
This Ramazan is just not festive because of virus

This Ramazan is just not festive because of virus

Muslims around the world began marking Ramadan under coronavirus lockdown on Friday with unprecedented bans on family gatherings and mass prayers, while a pushback in some countries has sparked fears of a surge in infections.
Published 25 Apr, 2020 06:43am
Firm trend
Money & Banking

Firm trend

Exchange rate of Pakistan rupee remained unchanged against major currencies in open market whereas it depreciated against USD in Interbank market on Friday.
Published 25 Apr, 2020 06:43am
Sindh government places ban on Taraveeh

Sindh government places ban on Taraveeh

The Sindh government has placed a ban on Taravih during the month of Ramazan. In his video message, the Chief Minister of Sindh, Syed Murad Ali Shah, said that he had discussed the issue with President Dr Arif Alvi and with his consent, the Sindh governme
Published 25 Apr, 2020 06:43am
Sindh government issues SOPs for businesses

Sindh government issues SOPs for businesses

The Sindh government has decided that all the business activities will operate from 8 am to 5 pm with certain exceptions, however an exception is given to milk and dairy shops to operate till 8 pm shall be subject to condition that no sale of Samosa, Pako
Published 25 Apr, 2020 06:43am
Lockdown extended till May 9

Lockdown extended till May 9

The federal government has decided to extend the ongoing lockdown for another 15 days, ie, till May 9 across the country for protection of masses and to contain the spread of coronavirus.
Published 25 Apr, 2020 06:43am
Daroo Khan's petition allowed

Daroo Khan's petition allowed

Balochistan High Court (BHC) has declared nomination of Daroo Khan as vice President of SAARC Chamber of Commerce and Industry and approved replacement of one male member with a female member.
Published 25 Apr, 2020 06:43am
Fight against Covid-19: Pakistan gets no aid from world: PM

Fight against Covid-19: Pakistan gets no aid from world: PM

Reiterating his stance on the coronavirus lockdown, Prime Minister Imran Khan stressed on Friday that the country will have to return to normalcy while pushing ahead with its fight against the pandemic.
Published 25 Apr, 2020 06:43am
Army won't take internal security allowance: ISPR DG

Army won't take internal security allowance: ISPR DG

Director-General of Inter-Services Public Relations (ISPR) Major General Babar Iftikhar on Friday said that Chief of Army Staff (COAS) General Qamar Javed Bajwa has directed to implement steps taken to contain coronavirus with the help of civil institutio
Published 25 Apr, 2020 06:43am