News Archives for Print - 2020-03-16

Print - 2020-03-16

Biden gets backing from largest US teachers union

US Democratic presidential front-runner Joe Biden has won the backing of the National Education Association, the largest US teachers union with 3 million members.

Published 16 Mar, 2020 12:00am

Qatar suspends entry of non-Qataris

Qatar said on Sunday it would ban non-Qataris from entering the country for two weeks as of Wednesday and announced measures to support the economy including providing 75 billion riyals ($20.5 billion) in financial incentives to the private sector.

Published 16 Mar, 2020 12:00am

Money & Banking

Two Goldman Sachs employees test positive for coronavirus

Goldman Sachs Group Inc said on Sunday two of its employees were diagnosed with coronavirus. The investment bank said it received confirmation on Friday that an employee in its Plumtree Court office in London tested positive for coronavirus and another em

Published 16 Mar, 2020 12:00am

Germany wards off US virus vaccine interest

Germany staked its claim Sunday to ongoing work into a vaccine against the coronavirus, after media reports claimed US president Donald Trump was trying to poach research from a German company. "The German government has a strong interest in producing vac

Published 16 Mar, 2020 12:00am

Lockdowns and entry bans imposed around the world

France and Spain joined Italy in imposing lockdowns on tens of millions of people, Australia ordered self-isolation of arriving foreigners and other countries extended entry bans as the world sought to contain the spreading coronavirus.

Published 16 Mar, 2020 12:00am

Pakistan proposes Saarc working group

Pakistan on Sunday proposed establishment of a Working Group of respective national authorities for information and data exchange as well as coordination for responses in real-time between the SAARC (South Asian Association for Regional Cooperation) count

Published 16 Mar, 2020 12:00am

18 new cases surface in Sindh

Sindh province is facing a serious situation as 18 more coronavirus cases including 13 from Sukkur quarantine centre were recorded on Sunday alone, pushing the total number of infected people to 35 across the province. It was disclosed during the 18th mee

Published 16 Mar, 2020 12:00am

Umrah pilgrims' return: Flight operation to continue till March 19

The flight operation to bring back Pakistani Umrah pilgrims from Saudi Arabia would continue till March 19, the Kingdom's General Authority of Civil Aviation (GACA) said on Sunday.

Published 16 Mar, 2020 12:00am

Lahore reports first confirmed case of coronavirus

Punjab Health Minister Yasmin Rashid on Sunday confirmed the first positive case of coronavirus detected in the provincial capital. A private laboratory that conducted the tests for the diagnosis declared the individual as infected.

Published 16 Mar, 2020 12:00am

Stocks

Futures spread up by 693 basis points

The futures spread increased by 693bps to 14.98 percent on the last day of the outgoing week. Average daily trading volumes on the futures counter stood at 106.66 million shares as compared to previous week's average of 106.63 million shares. Average dail

Published 16 Mar, 2020 12:00am

Stocks

Equities in grip of panic

Pakistan Stock Exchange remained in the grip of panic selling and the PSX had to trigger Market Halt option three times during the outgoing week ended on March 13, 2020. BRIndex100 decreased by 259.17 points on week-on-week basis to close at 3,715.13 poin

Published 16 Mar, 2020 12:00am

Unlawful financing: SECP bench cautions stock brokers

The Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP) has cautioned that the stock market brokers cannot violate laws for using their own resources to facilitate some of their long term clients through unlawful financing for dev

Published 16 Mar, 2020 12:00am

Money & Banking

Recovers amid see-saw session

The rupee recovered some lost ground against the dollar, during the week, ended on March 14, 2020. The rupee picked up nearly Rs 2.45 in terms of the dollar for buying and selling at Rs 158.95 and Rs 159.05.

Published 16 Mar, 2020 12:00am

Implementation of Track & Trace System: FBR seeks applications for grant of licence

The Federal Board of Revenue (FBR) has sought applications for grant of five years licence for implementation of Track and Trace System for cement, sugar and fertilizer sectors to monitor the clearances of duties/taxes paid items from around 100 units of

Published 16 Mar, 2020 12:00am

COAS visits family of martyred Noman Akram

Chief of the Army Staff (COAS) General Qamar Javed Bajwa visited the home of Wing Commander Noman Akram on Sunday, Aaj News reported. COAS prayed for the departed soul and offered Fateha. COAS said, "We owe improved peace & stability to supreme sacrifices

Published 16 Mar, 2020 12:00am

Lagos pipeline blast kills 15, destroys several buildings

A pipeline explosion on Sunday killed at least 15 people and destroyed about 50 buildings after a fire broke out in a suburb of Lagos, Nigeria's commercial capital, emergency services said. Several people were injured and taken to hospital, according to I

Published 16 Mar, 2020 12:00am

Three-year EGES, NAP 2020-2021: PC starts consultations with stakeholders

The Planning Commission has started consultations with the stakeholders on three-year Economic Growth and Equity Strategy (EGES) and the National Annual Plan 2020-2021, with the clear message that only approved project will be include in the PSDP 2020-202

Published 16 Mar, 2020 12:00am

First Russian-Turkish patrol cut short by protests

Russia and Turkey cut short their first joint patrol in Syria's Idlib on Sunday after rebels and civilians opposed to a ceasefire agreement cut off a main roadway to block its path, according to witnesses and Russian news agencies.

Published 16 Mar, 2020 12:00am

DAP fertilizer: Two vessels from Wuhan expected to arrive

Two bulk commodity vessels carrying Di-Ammonium Phosphate (DAP) fertilizer from Wuhan, Hubei (China), the epicenter of Coronavirus are expected to dock Karachi within next few days. In the light of the novel COVID-19 virus that has wreaked havoc in the gl

Published 16 Mar, 2020 12:00am

Import of Paraxylene from India: Cabinet refuses to grant one-time exemption to company

The federal cabinet has refused to grant one-time exemption to M/s Lotte Chemicals Pakistan Ltd to import Paraxylene from India, after serious differences were witnessed between Commerce Ministry and Prime Minister's Advisor on Commerce, Industries and Pr

Published 16 Mar, 2020 12:00am

Trump tests negative

US President Donald Trump has tested negative for coronavirus, the president's physician, Sean Conley, said in a statement on Saturday. The president decided on Friday to take the test for the virus, which has killed some 5,800 people worldwide, and recei

Published 16 Mar, 2020 12:00am

PM supervising steps: Firdous

Special Assistant to Prime Minister on Information and Broadcasting Firdous Ashiq Awan has said that Prime Minister Imran Khan is 'personally' supervising the steps taken to overcome coronavirus in the country.

Published 16 Mar, 2020 12:00am

Coronavirus: Sindh CM rejects lockdown rumours

Chief Minister Sindh Syed Murad Ali Shah on Sunday rebuffed rumours about lockdown in Sindh due to coronavirus outbreak. The CM said that some elements are doing propaganda to gather the ration; however, there is no reality in the news that the province i

Published 16 Mar, 2020 12:00am

Letters

Missing role of local governments

Sindh Chief Minister Syed Murad Ali Shah while presiding over a special cabinet meeting a couple of days ago decided to keep the educational institutions closed till May 30. This will be treated as summer vacations. This is the right approach to dealing w

Published 16 Mar, 2020 12:00am

Articles

Unlike 2008, world's economic doctors feud over cure

"I think the patient is stabilised," then US president Barack Obama declared after G20 powers prescribed unprecedented remedies to steady the crisis-wracked world economy just over a decade ago. Today, as the world fights to immunise global growth from th

Published 16 Mar, 2020 12:00am

Articles

World on a pause

Rushed. Speed of light. Sprinting. Marathon. Racing ahead. These are some of the oft-repeated descriptors of today's business and life. Life was spinning past. Business is moving fervently. Products were churning out faster than they were being consumed a

Published 16 Mar, 2020 12:00am

Articles

State of the economy

The debate on a charter of economy has resurfaced as the burden on the common man in terms of erosion of the rupee domestically (inflation rate remains at over 12 percent) and internationally (the rupee reached a high of 159 rupees to the dollar this week

Published 16 Mar, 2020 12:00am

What stops it from coming into being?

The demand for the creation of 'south Punjab' province is gaining some traction. On Wednesday, Prime Minister Imran Khan presided over a meeting where it was decided to table a constitutional amendment bill in the National Assembly next month. Since its p

Updated 16 Mar, 2020 08:48am

A hands-on PM

To evaluate the impact of economic policies, fiscal and monetary, is a complex process because of the interdependence of major macroeconomic indicators that invariably have their pros and cons. For example, a high discount rate would curtail productivity

Updated 16 Mar, 2020 08:48am

President's China visit begins today

President of Pakistan Arif Alvi will be landing in China today (Monday) on a two-day visit March 16-17 along with a high-level delegation to sign 'a number of Memorandums of Understanding (MoUs)' with the Chinese authorities on the matters of mutual inter

Published 16 Mar, 2020 12:00am

Business & Economy

Javed Iqbal Khattak named as CEO EZDMC

The provincial cabinet of Khyber Pakhtunkhwa has approved the appointment of the renowned expert on industries and SME sector, Javed Iqbal Khattak for the post of Chief Executive Officer (CEO), Khyber Pakhtunkhwa Economic Zones Development and Management

Published 16 Mar, 2020 12:00am

Pakistani student gives birth to baby girl in Wuhan

A Pakistani doctoral student studying at Wuhan University has given birth to a healthy baby girl in Wuhan, the coronavirus-hit city in the Hubei province of China. Bushra Bibi, studying for PhD. in Law at Wuhan University, gave birth to a baby girl four d

Published 16 Mar, 2020 12:00am

KP government announces Rs 500 million to fight against coronavirus

Khyber Pakhtunkhwa government, here on Sunday announced the release of Rs 500 million on the emergency basis for purchase of essential and inevitable equipment and other allied items to fight against coronavirus across the province.

Published 16 Mar, 2020 12:00am

AJK enforces health emergency to combat coronavirus

Azad Jammu and Kashmir (AJK) government has enforced health emergency for three weeks in the wake of coronavirus (COVID19) spread under which special measures would be adopted including scanning the people at all entry points to Azad Kashmir.

Published 16 Mar, 2020 12:00am

11 centres set up to quarantine around 300 coronavirus patients

Additional Assistant Commissioner, Landi Kotal Shamsul Islam said that in the light of the directions of the federal and provincial governments, as many as 11 centers have been set up to quarantine possible 300 coronavirus disease affectees coming from ab

Published 16 Mar, 2020 12:00am

Former KP governor Iftikhar Hussain Shah dies

Former Governor Khyber Pakhtunkhwa, Lt-General Syed Iftikhar Hussain Shah (Retd) has been passed away. He was 70. Born on 24th October 1949, Iftikhar Hussain Shah was commissioned in the Pakistan Army in October 1964 in 30th PMA Long Course and joined an

Published 16 Mar, 2020 12:00am

Prices of essential kitchen items continue to soar

Prices of important kitchen items, including live chicken/meat, vegetable, pulses, sugar, flour, fruits and other have increased manifold in retail market, according to a survey carried out by Business Recorder here on Sunday.

Published 16 Mar, 2020 12:00am

Energy

KE buying power at Rs 10 per unit & selling at Rs 13.50, ECC told

Chief Financial Officer (CFO), Karachi Electric (KE) Aamir Ghaziani has informed the Economic Coordination Committee (ECC) of the Cabinet that the KE is purchasing 650 MW electricity from national grid at Rs 9 or Rs 10 per unit and selling it to consumers

Published 16 Mar, 2020 12:00am

Punjab government launches 'Salute Salam'

The Punjab government has launched an awareness campaign titled "Salute Salaam" to promote the habit of oral greetings instead of traditional handshake to possibly slow down the spread of coronavirus. Noted artists from film and drama industry namely Yasi

Published 16 Mar, 2020 12:00am

Sindh ministers, Ulema discuss steps taken against spread of coronavirus

Sindh Minister for Information, Local Government, Housing & Town Planning, Religious Affairs, Forest & Wildlife Syed Nasir Hussain Shah and Minister for Education and Labor Saeed Ghani on Sunday met with religious scholars of various sects and apprise the

Published 16 Mar, 2020 12:00am

Ministers visit IIAP

Federal Minister for Aviation Ghulam Sarwar Khan and Special Assistant to the Prime Minister on Overseas Pakistanis and Human Resource Development Sayed Zulfikar Abbas Bukhari visited the Islamabad International Airport (IIAP) to review measures against c

Published 16 Mar, 2020 12:00am

Steps afoot to set up quarantine centres: DC Hyderabad

To take precautionary measures against Coronavirus in the Hyderabad Division, Labour Department's 1504 flats at Hosri near bypass Hyderabad and 512 flats at Kotri Jamshoro would be made quarantine centers and provision of electricity, gas and other requir

Published 16 Mar, 2020 12:00am

Slain journalist Memon's body exhumed

Slain journalist Aziz Memon's body exhumed in the presence of sessions court judge presiding over the case on Sunday. The body of the deceased journalist who has been claimed to have been killed under controversial circumstances was taken to the coroner's

Published 16 Mar, 2020 12:00am

41 isolation rooms set up in Faisalabad district

District Administration has set up 41 isolation rooms in the district for the treatment of probable patients suffering from coronavirus which were functional at Allied & District Headquarters Hospital, Tehsil Hospitals and in Rural Health Centers while tw

Published 16 Mar, 2020 12:00am

'Therapeutic Horsemanship Programme' established through EAAT

Philanthropist and social worker, Aamer A. Sarfaraz established the first 'Therapeutic Horsemanship Program' in Pakistan through Equine-Assisted Activities and Therapy (EAAT) designed to serve special children in order enhance the quality and productivity

Published 16 Mar, 2020 12:00am

Business & Economy

Sustainable development: FDA DG vows to form advisory board

Director General FDA Muhammad Suhail Khawaja has said that an Advisory Board would be constituted to take input from the members regarding sustainable and multidimensional development of the city according to the policy guidelines. He unfolded this idea d

Published 16 Mar, 2020 12:00am

Money & Banking

KP CM reviews Swat ADP's ongoing schemes

Agriculture University Peshawar (AUP)'s Campus at Takhtaband, Swat has been completed at a cost of Rs 500 million and is ready for inauguration. This was stated during a meeting held here with Chief Minister Mahmood Khan in the chair. The meeting reviewed

Published 16 Mar, 2020 12:00am

Cotton & Textile

WEEKLY COTTON REVIEW: Trading volume remains low

The local textile and cotton industry which is moving in positive direction is badly affected by Corona virus. There were many challenges in the way of increasing the production of cotton. Steps should be taken for the immediate remediation of the challen

Published 16 Mar, 2020 12:00am

Business & Economy

Shortcomings identified in proposed KP industry policy

Public and private sector stakeholders have identified various deficiencies in the draft Khyber Pakhtunkhwa Industrial Policy 2020-30 and have presented recommendations to bring further improvement in the policy to attract local, foreign investment and ge

Published 16 Mar, 2020 12:00am

People continue to throng recreational places

Amid rising threat of coronavirus pandemic in the country, many recreational spots witnessed usual attendance of visitors in the provincial capital on Sunday defeating the fear of the disease which has so far claimed more than 5000 lives across the world.

Published 16 Mar, 2020 12:00am

Stocks

Risk management system: SECP chief urges PSEL to conduct drills

Aamir Khan Chairman Securities and Exchange Commission of Pakistan (SECP) has urged Pakistan Stock Exchange Limited (PSEL) for conducting drills to ensure remote operations of trading, clearing, settlement and custody services for effective functioning of

Published 16 Mar, 2020 12:00am

Business & Economy

TCKP employees for implementing PHC's ruling

Employees of the Tourism Corporation Khyber Pakhtunkhwa (TCKP) has demanded the implementation of the ruling of Peshawar High Court in the Tourism Authority case. This has been demanded by the employees while talking to this scribe here Sunday.

Published 16 Mar, 2020 12:00am

Business & Economy

4th women handicraft bazaar held in Peshawar

Forth women handicraft bazaar was organised with aim to build market linkages and promote their manufacturing products in a befitting manner. The event was jointly organized by Women Chamber of Commerce and Industry (WCCI) Peshawar and Government Polytech

Published 16 Mar, 2020 12:00am

Public urged to ensure government instructions against coronavirus

Public should ensure implementation on Government instructions to prevent coronavirus spread by closing schools, colleges, universities and seminaries as those are neither anti-Shariah nor against Allah's will.

Published 16 Mar, 2020 12:00am

Brief Recordings

'Reproductive rights make economic sense' an interview with Alvaro Bermejo, DG IPPF Pakistan

Dr. Alvaro Bermejo is the Director General, International Planned Parenthood Federation(IPPF) since 1st March, 2018. He is a medical doctor and holds an MA in public health from the University of Leeds. He has more than 20 years' experience as senior exec

Updated 16 Mar, 2020 04:33am

Syria's brutal war enters 10th year

Syria's brutal conflict entered its 10th year Sunday with President Bashar al-Assad's regime consolidating its hold over a war-wracked country where foreign powers are flexing their muscle. When Syrian anti-government demonstrators first took to the stree

Published 16 Mar, 2020 12:00am

China state media accuses US politicians of spreading 'political virus'

Some United States politicians are using coronavirus as a weapon to smear China, the Xinhua official news agency said on Sunday, as a war of words escalated between the two countries over China's handling of the epidemic.

Published 16 Mar, 2020 12:00am

Italian architect of Barcelona stadium dies of virus at 92

Vittorio Gregotti, an Italian architect who designed the 1992 Barcelona Summer Olympics stadium, died Sunday at the age of 92 after catching the novel coronavirus, Italian media said. Gregotti died of pneumonia after being hospitalised in Milan having con

Published 16 Mar, 2020 12:00am

Four militants sentenced to death in Bangladesh

Four Islamist extremists were sentenced to death in Bangladesh on Sunday for the 2016 decapitation of a senior Hindu priest during a spate of attacks targeting religious minorities in the Muslim-majority nation.

Published 16 Mar, 2020 12:00am

Israeli president hands Gantz chance to form government

Israel's President Reuven Rivlin will on Monday formally ask Benny Gantz to try to form the country's next government, after the ex-military chief secured recommendations from a majority of lawmakers. "Tomorrow, around midday, the president will assign th

Published 16 Mar, 2020 12:00am

Hand gel at the ballot box as France votes amid virus clampdown

France voters cast their ballots in municipal elections on Sunday expected to see the lowest turnout in decades, after the mounting coronavirus toll forced the government to close all bars, restaurants and other non-essential businesses in a bid to limit

Published 16 Mar, 2020 12:00am

Press freedom group stores censored articles in Minecraft library

A virtual library housing censored articles from around the world has been created within the hugely popular video game Minecraft by press freedom group Reporters Without Borders (RSF). Minecraft, with its signature pixelated graphics, enables players to

Published 16 Mar, 2020 12:00am

Virus 'god's punishment' of west: Zimbabwe minister

Zimbabwe's defence minister has called the coronavirus pandemic a "punishment" of the US and Europe for imposing sanctions against members of the ruling regime over human rights abuses. "Coronavirus is the work of god punishing countries who imposed sanct

Published 16 Mar, 2020 12:00am

EU limits medical equipment exports in virus fight

The EU on Sunday imposed restrictions on exports of masks and other protective medical equipment as it seeks to protect its own supplies for the fight against the coronavirus epidemic. Announcing the measure in an online video, European Commission Preside

Published 16 Mar, 2020 12:00am

Money & Banking

For signs that the stocks panic is over, watch bonds

Investors wanting to see if the worst is over for the dramatic selloff in stocks should look to US Treasuries for clues, as an ebbing in the considerable demand for the safe-haven bonds needs to be seen first to show that risk appetite is improving. The T

Published 16 Mar, 2020 12:00am

Stocks

Foreigners sell $9 billion worth of Asian equities so far in March

Foreign investors are aggressively selling Asian equities this month amid worries of a deeper economic fallout from the coronavirus outbreak in the region. Overseas investors have sold a net $9 billion worth of regional equities so far in March, after off

Published 16 Mar, 2020 12:00am

Stocks

Major Middle East indexes decline on coronavirus impact

Most major Middle Eastern stock markets closed lower on Sunday amid fears of economic fallout from coronavirus precautions, with Egypt falling the most and Saudi Aramco slipping after it missed profit forecasts. Gulf Arab states, with nearly 900 virus cas

Published 16 Mar, 2020 12:00am

Money & Banking

Too early for US dollar sell-off despite Fed rate cuts

The US dollar's strength will remain in place and for longer than expected just a month ago, despite Federal Reserve interest rate cuts intended to limit the economic damage from the spreading coronavirus, a Reuters poll showed in March 3, 2020 survey.

Published 16 Mar, 2020 12:00am

Stocks

Investors prepare for more market swings as virus spreads in US

With one of Wall Street's wildest weeks in recent memory now in the history books, investors are bracing for more uncertainty and big market swings ahead. Overwhelmingly, caution remains the watchword for investors and analysts reeling from a week that sa

Published 16 Mar, 2020 12:00am

Stocks

Virus scare questions European stocks modest outlook

An elusive domestic economic recovery and a hit to supply chains from China's coronavirus epidemic mean prospects for European stocks this year are modest and vulnerable to any further spread of the disease that has already killed over five thousands.

Published 16 Mar, 2020 12:00am

Money & Banking

Japan's Nissay Asset Management buying Treasuries, Chinese bonds

Japan's Nissay Asset Management Corp is buying more US Treasuries, Chinese government debt, and credit funds because of expectations that the coronavirus outbreak will pressure central banks to ease monetary policy.

Published 16 Mar, 2020 12:00am

Stocks

Wall Street week ahead: Investors hope Fed can help calm markets as big rate cut expected

Interest rate cuts won't cure the coronavirus but investors are still hoping the Federal Reserve can take some actions to help soothe the roiled stock market. Only days after a rare emergency rate cut, the Fed is expected at its regularly scheduled meetin

Published 16 Mar, 2020 12:00am

Global Business Economy

Dutch government to do 'everything it takes' to keep KLM going

The Netherlands will do "everything it takes" to keep Air France-KLM and Amsterdam's Schiphol airport operating in the wake of the coronavirus epidemic, Dutch Finance Minister Wobke Hoekstra said on Sunday. Hoekstra's comments came after KLM, the Dutch ar

Published 16 Mar, 2020 12:00am

Hit by virus fears, N America box office near 20-year low

Under the shadow of the coronavirus outbreak, the North American box office had its lowest weekend ticket sales in two decades as viewers stayed home and some theaters limited their capacities to ensure patrons could sit near empty seats, industry watcher

Published 16 Mar, 2020 12:00am

Energy

Saudi Aramco 2019 profit slides 20.6 percent on lower crude prices

Saudi Aramco reported Sunday a 20.6 percent drop in 2019 net profit due to lower crude prices and production levels, in its first earnings announcement as a listed company amid an escalating price war. The world's most valuable firm also announced it was

Published 16 Mar, 2020 12:00am

Energy

Oil giants set health checks for critical staff, work-from-home rules

Major energy companies in the United States imposed work-from-home rules for office staff and began health checks for remote or critical workers as coronavirus spread and threatened an industry reeling from falling demand and profits.

Published 16 Mar, 2020 12:00am

Global Business Economy

SAS to halt most flights, temporarily lay off 90pc of staff

Airline SAS said it will temporarily halt most of its flights from Monday until conditions for commercial aviation improved. Travel restrictions and falling demand due to the coronavirus have hammered airlines around the world, forcing them to reduce flig

Published 16 Mar, 2020 12:00am

Money & Banking

India's Yes Bank rescue plan approved, posts big loss

A central bank-backed proposal to rescue embattled Yes Bank has been approved and withdrawal limits will be lifted, officials said, as India's fourth-largest private lender posted a big quarterly loss. Yes Bank was struggling with bad loans and on the bri

Published 16 Mar, 2020 12:00am

Global Business Economy

Nike closes stores in US and some other countries

Multinational sporting goods seller Nike will close its stores in the US, Canada, Western Europe, Australia and New Zealand for 11 days starting Monday in response to the coronavirus pandemic, it said in a statement received Sunday by AFP. Nike stores in

Published 16 Mar, 2020 12:00am

Global Business Economy

US-China trade truce at risk as virus hits global economy

A hard-won trade war truce between the US and China is at risk as the coronavirus pandemic rocks the global economy, making it tough for Beijing to fulfil its commitments. The United States also faces huge disruptions from the deadly virus while a diploma

Published 16 Mar, 2020 12:00am

Money & Banking

Jordan's central bank cuts bank reserves to inject liquidity

Jordan's central bank cut compulsory reserves for commercial banks to 5% from 7% on Sunday to inject more than 500 million dinars ($705 million) of extra liquidity to mitigate the negative impact of coronavirus on the debt-straddled economy. Central Bank

Published 16 Mar, 2020 12:00am

Mnuchin sees virus causing US slowdown but no recession

Treasury Secretary Steven Mnuchin said Sunday the impact of the coronavirus pandemic was producing a "slowdown" in the American economy but that he did not eexpect a full-blown recession Asked by an ABC interviewer if the country was already in recession,

Published 16 Mar, 2020 12:00am

Cotton & Textile

Gap sees 2020 profit above estimates, flags $100 million virus hit to sales

Gap Inc leaned on its turnaround plan to forecast 2020 profit above market expectations on Thursday, but flagged a $100 million sales hit in Asia and Europe from the coronavirus, which has also started impacting its home market.

Published 16 Mar, 2020 12:00am

Global Business Economy

Emirates expects to cancel more flights as virus curbs spread

Emirates, one of the world's biggest international airlines, expects to cancel more flights as the coronavirus outbreak weighs further on global travel demand, according to an internal email seen by Reuters. The World Health Organization on Wednesday desc

Published 16 Mar, 2020 12:00am

Energy

Saudi Aramco to unveil first annual results since IPO

Saudi Aramco is expected to announce a drop in profits as it unveils on Monday its first annual results since its listing, as the energy giant grapples with sinking oil prices. The 2019 financial results follow an initial public offering on the domestic s

Published 16 Mar, 2020 12:00am

Global Business Economy

Adidas, Puma warn of virus blows to 2020 business

German sportswear makers Adidas and Puma on Wednesday warned the coronavirus outbreak would deal painful blows to their business in 2020, weighing especially on the first quarter with store closures and lower sales. Adidas said its revenues in key market

Published 16 Mar, 2020 12:00am

Global Business Economy

Qantas to slash international capacity by nearly 25 percent

Qantas Airways Ltd said on Tuesday it would cut its international capacity by nearly 25 percent over the next six months, including grounding most of its Airbus SE A380s, as it grapples with a plunge in demand from the coronavirus.

Published 16 Mar, 2020 12:00am

Energy

OMV to sell $2.3 billion of assets to fund purchase of plastics maker

Austrian oil and gas group OMV plans to sell $2.3 billion of assets by the end of next year to help fund a $4.7 billion deal to make it the majority owner of plastics maker Borealis and one of the world's leading polymer producers.

Published 16 Mar, 2020 12:00am

Global Business Economy

Cathay Pacific warns of H1 loss from 'unprecedented' virus challenge

Cathay Pacific warned of a substantial loss in the first half of the year and flagged more cuts in flights due to the "unprecedented challenge" from the coronavirus outbreak that has forced it to ground more than half its fleet.

Published 16 Mar, 2020 12:00am

Global Business Economy

GM, Ford to have white-collar employees work remotely starting Monday

US automakers General Motors Co and Ford Motor Co said on Friday they will have most of their white-collar workforce working remotely as of Monday to protect against the spread of the coronavirus. GM Chief Executive Mary Barra told employees on Friday the

Published 16 Mar, 2020 12:00am

Close to tipping point, Amazon may collapse in 50 years

The Amazon rainforest is nearing a threshold which, once crossed, would see one of the world's largest and richest ecosystems morph into arid savannah within half-a-century, scientists said on Tuesday. Another major ecosystem, Caribbean coral reefs, could

Published 16 Mar, 2020 12:00am

Drop in emissions from virus will not solve climate crisis: UN chief

UN Secretary General Antonio Guterres warned on Tuesday that while the global outbreak of coronavirus may have caused a temporary drop in emissions that cause global warming, it would not end the problem and might even divert attention from the fight. "We

Published 16 Mar, 2020 12:00am

Italy's centuries-long fight against epidemics

Centuries before imposing unprecedented measures to contain the deadly coronavirus outbreak, Italy led the fight against deadly epidemics with a grab bag of techniques from herb-stuffed face masks to family-wide quarantines. The Black Death reached Europe

Published 16 Mar, 2020 12:00am

Six-fold jump in polar ice loss lifts global oceans

Greenland and Antarctica are shedding six times more ice than during the 1990s, driving sea level rise that could see annual flooding by 2100 in regions home today to some 400 million people, scientists have warned.

Published 16 Mar, 2020 12:00am

IT & Computers

Yandex ambitions for global 'robotaxi' fleet

Russian technology giant Yandex wants to launch a worldwide fleet of 'robotaxis' using its driverless car software and thinks this is possible within a few years, the company's head of driverless cars Dmitry Polishchuk told Reuters.

Published 16 Mar, 2020 12:00am

IT & Computers

Amazon offers cashierless tech to rival retailers

Amazon on Monday began offering its "just walk out" technology to other retailers in a move aimed at boosting the use of the cashierless store system. The US technology giant launched a new website to promote the offering, saying the installation can be d

Published 16 Mar, 2020 12:00am

IT & Computers

An app a day: China embraces tele-medicine to keep the doctor away

As the coronavirus crisis rages, a Chinese woman working in Paris takes to a computer to consult a doctor thousands of kilometres away in Shanghai about a worrisome cough and headache. The physician says she probably has the common cold and prescribes res

Published 16 Mar, 2020 12:00am

Telecommunication

Huawei granted another 45 days to do business with US companies

The United States on Tuesday granted Chinese telecom giant Huawei another 45 days to continue doing business with American companies. The new provisional license expires on May 15. Prior to the extension, the previous license was set to expire on April 1.

Published 16 Mar, 2020 12:00am

IT & Computers

E3 video game conference cancelled due to coronavirus

The world's premier video game trade show, due to be held in June in Los Angeles, was cancelled on Wednesday over the spread of deadly novel coronavirus. The Entertainment Software Association said that the annual Electronic Entertainment Expo (E3) event

Published 16 Mar, 2020 12:00am

IT & Computers

Online Chinese users get creative skirting censors over virus whistleblower

Online users in China have adopted a range of creative measures - including screenshots, deliberate typos, PDF files and Morse code - to share a censored article on a whistleblowing doctor. The report features an interview with a doctor in Wuhan, the epic

Published 16 Mar, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 3	277.92
USD PKR Interbank Buying / Dec 3	277.72
USD to Japanese Yen / Dec 3	150.01
USD to Swiss Franc / Dec 3	0.89
Pound Sterling to USD / Dec 3	1.27
Euro to USD / Dec 3	1.05

Stock	Volume
S&P 500 / Dec 2	6,047.15
Nasdaq / Dec 2	19,403.95
Dow Jones / Dec 2	44,782
India Sensex / Dec 3	80,853.10
Tokyo Nikkei / Dec 3	39,248.86
Hang Seng / Dec 3	19,694.44
FTSE 100 / Dec 3	8,345.09
Germany DAX 30 / Dec 3	20,011.64

Item	Value
Gold 10 Grams PKR / Dec 2	235,340
Petrol/Litre / Dec 3	252.10
Crude Oil USD/Barrel / Dec 3	68.37
Karachi Cotton PKR/37.32 KG / Dec 3	17,685
Gold Spot USD/Ounce / Dec 3	2,645.88
Diesel/Litre / Dec 3	258.43

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Dec 3 786 Investments Limited(786)	7.30 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Dec 3 Al-Abbas Sugar Mills Limited(AABS)	630 ▼ 0.00 (0.00%)
Agro Allianz / Dec 3 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Dec 3 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Dec 3 Ali Asghar Textile Mills Limited(AATM)	67.69 ▼ 0.00 (0.00%)
Allied Bank / Dec 3 Allied Bank Limited(ABL)	150 ▼ 0.00 (0.00%)
Abbott Lab. / Dec 3 Abbott Laboratories (Pakistan) Limited(ABOT)	1,118.68 ▼ 0.00 (0.00%)
Abson Ind. / Dec 3 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Dec 3 Alfalah Consumer Index ETF.(ACIETF)	13.14 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Dec 3 786 Investments Limited(786)	7.30 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Dec 3 Al-Abbas Sugar Mills Limited(AABS)	630 ▲ 0.00 (0.00%)
Agro Allianz / Dec 3 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Dec 3 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Dec 3 Ali Asghar Textile Mills Limited(AATM)	67.69 ▲ 0.00 (0.00%)
Allied Bank / Dec 3 Allied Bank Limited(ABL)	150 ▲ 0.00 (0.00%)
Abbott Lab. / Dec 3 Abbott Laboratories (Pakistan) Limited(ABOT)	1,118.68 ▲ 0.00 (0.00%)
Abson Ind. / Dec 3 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Dec 3 Alfalah Consumer Index ETF.(ACIETF)	13.14 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Dec 3 Worldcall Telecom Limited(WTL)	213,514,857 ▲ 0.00
Cnergyico PK / Dec 3 Cnergyico PK Limited(CNERGY)	196,907,321 ▲ 0.00
Fauji Foods Ltd / Dec 3 Fauji Foods Limited(FFL)	68,325,507 ▲ 0.00
K-Electric Ltd. / Dec 3 K-Electric Limited(KEL)	66,212,972 ▲ 0.00
Sui South Gas / Dec 3 Sui Southern Gas Company Limited(SSGC)	65,264,278 ▲ 0.00
B.O.Punjab / Dec 3 The Bank of Punjab(BOP)	61,288,845 ▲ 0.00
Hascol Petrol / Dec 3 Hascol Petroleum Limited(HASCOL)	49,268,731 ▲ 0.00
Pak Int.Bulk / Dec 3 Pakistan International Bulk Terminal(PIBTL)	46,902,495 ▲ 0.00
Fauji Cement / Dec 3 Fauji Cement Company Limited(FCCL)	31,910,059 ▲ 0.00

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