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Print - 2020-03-22
Iran frees French researcher in apparent prisoner swap

Iran frees French researcher in apparent prisoner swap

French researcher Roland Marchal returned to Paris on Saturday after being imprisoned in Iran for over nine months, after France released an Iranian threatened with extradition to the US. "Roland hs returned," his support group announced in a short messag
Published 22 Mar, 2020 12:00am
Kharif-2020: NSC relaxes cotton seed germination standard

Kharif-2020: NSC relaxes cotton seed germination standard

The National Seed Council (NSC) has relaxed the cotton seed germination standard for Kharif 2020 crops only (both for the public and private sector seed companies) from the existing 65-70 percent to 50 per cent.
Published 22 Mar, 2020 12:00am
Shujah set to be appointed as PSM CEO

Shujah set to be appointed as PSM CEO

Ministry of Industries and Production (MoI&P) is all set to seek Federal Cabinet's nod to appoint Brig. Shujah Hussain (retd) as Chief Executive Officer (CEO) of Pakistan Steel Mills (PSM), sources close to the Chairman PSM Board told Business Recorder
Published 22 Mar, 2020 12:00am
Forex operations: SBP to put in place automated 'RAS' for banks

Forex operations: SBP to put in place automated 'RAS' for banks

The State Bank of Pakistan (SBP) has decided to fully implement automated Regulatory Approvals System (RAS) and accordingly banks have been directed to submit cases related to Foreign Exchange Operations Department (FEOD) and Exchange Policy Department (E
Published 22 Mar, 2020 12:00am
COAS directs army to fast-track operations

COAS directs army to fast-track operations

Chief of Army Staff General Qamar Javed Bajwa on Saturday directed the army to fast-track operations to help out the civil administration as the country grapples with the coronavirus outbreak. The first steps need to be taken on an individual level by the
Published 22 Mar, 2020 12:00am
All markets in Punjab to remain closed for two days

All markets in Punjab to remain closed for two days

To deal with coronavirus, the Punjab government has decided to close all markets, shopping malls and restaurants throughout Punjab from March 22 to 24 while shops selling essential items are exempted. In this connection, the Punjab home department issued
Published 22 Mar, 2020 12:00am
Sindh braces for formal lockdown

Sindh braces for formal lockdown

As the number of coronavirus (Covid-19) cases topped 396 in the province, the Sindh government has decided, in principle, to enforce a lockdown in the province and a formal announcement in this regard would be made today.
Published 22 Mar, 2020 12:00am
Minister announces stopping of operation of 34 trains

Minister announces stopping of operation of 34 trains

Federal Minister for Railways Sheikh Rasheed Ahmad on Saturday urged the people to avoid unnecessary travel amid coronavirus outbreak. Addressing a press conference here on Saturday, Sheikh Rasheed Ahmad said that they had decided to shut down 34 trains f
Published 22 Mar, 2020 12:00am
International flight operations suspended for two weeks

International flight operations suspended for two weeks

The federal government on Saturday, while urging the nation to practice "social distancing" on the long weekend to avoid transmission of COVID-19 pandemic, confirmed 534 (some news websites have claimed that Pakistan's Covid-19 tally crossed 700 with Sind
Published 22 Mar, 2020 12:00am
THE RUPEE: No business on open market
Money & Banking

THE RUPEE: No business on open market

No trading activity was witnessed on the open market on Saturday as almost all participants kept themselves away from the daily dealings under the self-isolation due to coronavirus.
Published 22 Mar, 2020 12:00am
How to not kill your kids during coronavirus lockdown

How to not kill your kids during coronavirus lockdown

"I've put the kids in the freezer, so everything's cool now." Parents may be joking on social media about their childcare hell as more and more countries go into lockdown with the coronavirus. But child protection professionals are not laughing. They have
Published 22 Mar, 2020 12:00am
Parliamentary body to be set up: NA speaker

Parliamentary body to be set up: NA speaker

The National Assembly Speaker, Asad Qaiser, has said that the entire nation shall unite in the fight against coronavirus, adding "we have to evolve a strategy to face the economic challenges due to the pandemic". The NA speaker expressed these views in a
Published 22 Mar, 2020 12:00am
Nearly one billion confined to homes as virus toll tops 12,000

Nearly one billion confined to homes as virus toll tops 12,000

Almost one billion people were confined to their homes worldwide Saturday as the global coronavirus death toll topped 12,000 and US states rolled out stay-at-home measures already imposed across swathes of Europe. More than a third of Americans were adjus
Published 22 Mar, 2020 12:00am
German government to unveil biggest post-war aid package in virus fight

German government to unveil biggest post-war aid package in virus fight

Chancellor Angela Merkel's government is planning to unveil an economic rescue package worth 822 billion euros - the biggest in Germany's post-war history - to fund the country's fight against the coronavirus pandemic, according to a draft bill seen by AF
Published 22 Mar, 2020 12:00am
EU approves France plan for 300 billion euro virus aid package

EU approves France plan for 300 billion euro virus aid package

The European Commission on Saturday approved a proposal by France to guarantee up to 300 billion euros ($323 billion) in state aid to ease the economic burden of the coronavirus. The EU body approved three measures by France "to help its economy manage th
Published 22 Mar, 2020 12:00am
Iraq Shias defy curfews to commemorate revered imam

Iraq Shias defy curfews to commemorate revered imam

Tens of thousands of Iraqi Shiites turned out to commemorate a revered imam on Saturday, defying curfews imposed to stem the spread of the coronavirus. On foot, they streamed to the golden-domed mausoleum of Imam al-Kadhim in Baghdad, where authorities ke
Published 22 Mar, 2020 12:00am
North Korea fires two 'ballistic missiles' into sea

North Korea fires two 'ballistic missiles' into sea

North Korea fired what appeared to be two short-range ballistic missiles off its east coast on Saturday, the latest in a series of such launches by Pyongyang as the world struggles with the coronavirus pandemic. The South Korean military condemned the lau
Published 22 Mar, 2020 12:00am
Shahbaz asks government to adopt China's lockdown strategy

Shahbaz asks government to adopt China's lockdown strategy

The Leader of the Opposition in the National Assembly and the Pakistan Muslim League (PML-N) President, Shahbaz Sharif, has asked the government to immediately start implementing China-style lockdown to protect Pakistanis against spread of COVID-19.
Published 22 Mar, 2020 12:00am
American music legend Kenny Rogers dies at 81

American music legend Kenny Rogers dies at 81

Country music legend Kenny Rogers, whose career spanned six decades and helped bring the genre into the mainstream, has died at the age of 81, his family announced. With hits like "The Gambler," "Lucille" and the duet "Islands in the Stream" with Dolly Pa
Published 22 Mar, 2020 12:00am
John Lewis to close UK department stores due to crisis

John Lewis to close UK department stores due to crisis

John Lewis, one of the biggest names on the British high street, is to temporarily close its 50 UK department stores because of the coronavirus crisis, it said Saturday. The employee-owned retailer will shut the stores on Monday for the forseeable future,
Published 22 Mar, 2020 12:00am
Chaman border reopened

Chaman border reopened

The Chaman-Spin Boldak border between Pakistan and Afghanistan was opened for trade on Saturday on the directions of Prime Minister Imran Khan as dozens of trucks crossed over into Afghanistan.
Published 22 Mar, 2020 12:00am
British HC official found dead

British HC official found dead

A British High Commission official was found dead in mysterious circumstances on Saturday. Sources said that the body of British High Commission's Third Secretary Brian Georgi Robinson, 65, was shifted to Polyclinic hospital, who died in Diplomatic Enclav
Published 22 Mar, 2020 12:00am
'PSM problem: a workable solution'
Letters

'PSM problem: a workable solution'

This is apropos a Business Recorder op-ed "PSM problem: a workable solution" carried by the newspaper yesterday. The writer, Farhat Ali, seems to have come up with an interesting idea. According to hi, for example, "PSM chairman's plan or vision do
Published 22 Mar, 2020 12:00am
Turning the tide for water conservation
Articles

Turning the tide for water conservation

The every drop counts hashtag has garnered immense public following. In many ways, the UN's declaration of 2018-2028 as the International Decade for Conservation of Water is shaping public discourse on the globally critical need for taking effective measu
Published 22 Mar, 2020 12:00am
Lock it down, now!
Articles

Lock it down, now!

There is no other option but to partially lock down big cities. Period. It must be done in a phased and sustainable manner for several weeks. Unless the government acts immediately, law of probability indicates that the virus is going to hit most of us. V
Published 22 Mar, 2020 12:00am
Critically threatened forests

Critically threatened forests

It is a dire warning this country can ignore at its own peril. According to a review report issued by UN's Food and Agriculture Organisation about our forestry sector, Pakistan's natural forests are critically threatened due to widespread human activity.
Updated 24 Mar, 2020 10:05am
Managing spring rains

Managing spring rains

The spring rains caused by westerly weather system are not unusual in Pakistan. And it is also not unusual that they cause a lot of losses and damage. They unleash torrential downpours, trigger avalanches and flooding and sometimes also usher in harsh win
Updated 24 Mar, 2020 10:05am
Bilawal trend-setter

Bilawal trend-setter

"I will not criticise Imran Khan. He is our prime minister. ... I expect him to lead the nation from the front," says no one but the chairman of an opposition party, Bilawal Bhutto Zardari, who has always described the incumbent prime minister as a "selec
Updated 24 Mar, 2020 09:58am
MOL group donates 50,000 face masks

MOL group donates 50,000 face masks

In a bid to save thousands of lives from the fatal Coronavirus, MOL Pakistan Oil & Gas Company B.V donated 50,000 face masks for the residents of its operational areas of Khyber Pakhtunkhwa.
Published 22 Mar, 2020 12:00am
Coronavirus cases: Government urged to take prompt precautionary steps

Coronavirus cases: Government urged to take prompt precautionary steps

The Amun Taraqqi Party (ATP) chairman, Muhammad Faiq Shah has called upon the government to take prompt economic and emergency precautionary measures to ensure life safety amid the increasing cases of coronavirus in parts of the country. Faiq Shah while c
Published 22 Mar, 2020 12:00am
COVID-19: ZTBL takes various measures for staff
Money & Banking

COVID-19: ZTBL takes various measures for staff

In wake of surge in novel coronavirus cases across Pakistan, Zarai Taraqiati Bank Limited (ZTBL) has also taken various measures to prevent from COVID-19 pandemic. In this regard, the sensitive patients having chronic diseases more vulnerable to coronavir
Published 22 Mar, 2020 12:00am
KP registeres two more COVID-19 cases

KP registeres two more COVID-19 cases

Advisor to KP CM on Information Ajmal Wazir Saturday said that two new cases of Coronovirus have been registered in Khyber Pakhtunkhwa that raises the toll to 25 in the province. Addressing a press conference here Saturday, he said that the toll of positi
Published 22 Mar, 2020 12:00am
300 Pakistanis offloaded from flight in Italy

300 Pakistanis offloaded from flight in Italy

300 Pakistanis have been left stranded in Italy on account of not having necessary health certificates. The passengers have appealed to the govt to assist in bringing them back home. According to details, the coronavirus health certificate has become a ma
Published 22 Mar, 2020 12:00am
Huawei Pakistan donates VCS to MNHS

Huawei Pakistan donates VCS to MNHS

Huawei Pakistan has donated a video conference system worth about 300,000 US dollars to the Ministry of National Health Services (MNHS) to help the country fight COVID-19. This system can connect the World Health Organization Pakistan Office, the governme
Published 22 Mar, 2020 12:00am
Theft and carjacking cases on the rise in Capital

Theft and carjacking cases on the rise in Capital

The incidents of different kinds of theft and carjacking witnessed an increase in the city as over eight cases of theft including robbery and snatching at gunpoint as well six cases of car lifting were reported to various police stations here during last
Published 22 Mar, 2020 12:00am
PITB, FGEI ink MoU to develop human resource system
IT & Computers

PITB, FGEI ink MoU to develop human resource system

The Punjab Information Technology Board (PITB) in collaboration with federal government educational institutions situated in Cantts & Garrisons inked a Memorandum of Understanding (MoU) on Saturday to develop the human resource management information syst
Published 22 Mar, 2020 12:00am
Complete lockdown not appropriate option: GHSI

Complete lockdown not appropriate option: GHSI

The mitigating measures required to deal with Pakistan's unique socio-economic conditions need to be implemented strictly, said senior epidemiologist Dr Rana Jawad Asghar.
Published 22 Mar, 2020 12:00am
Only PM can take decision of cities' lockdown, says Awan

Only PM can take decision of cities' lockdown, says Awan

Special Assistant to the Prime Minister on Information Dr Firdous Ashiq Awan categorically said that only Prime Minister Imran Khan could take the decision of a lockdown of cities to control the spread of coronavirus if required.
Published 22 Mar, 2020 12:00am
Prices of essential kitchen items go up

Prices of essential kitchen items go up

Prices of essential kitchen items especially, entire range of pulses, tea, ghee/cooking oil, sugar, rice and eggs have witnessed an increase during this past week as compared to the week before, a survey carried out by Business Recorder revealed he
Published 22 Mar, 2020 12:00am
Gems export up 43 percent in July-January 2019-20

Gems export up 43 percent in July-January 2019-20

The country's gems export grew by 43 percent to $3.270 million in July-Jan 2019-20, official figures say. Increase in gems export now stands at $981,000 in July-Jan 2019-20 comparing with its export of $2.289 million in July-Jan 2018-19, Pakistan Bureau o
Published 22 Mar, 2020 12:00am
KCCI to remain closed from 24th to 29
Business & Economy

KCCI to remain closed from 24th to 29

Keeping in view the outbreak of the coronavirus, the Chairman of the Businessmen Group, Siraj Kassam Teli, and the office-bearers and managing committee members of the Karachi Chamber of Commerce and Industry (KCCI) have decided to shut down KCCI for one
Published 22 Mar, 2020 12:00am
SC directs above 50 staff to work from home

SC directs above 50 staff to work from home

The Supreme Court (SC) in order to minimise spread of coronavirus advised staff members above the age of 50 years to work from home. The statement issued by SC PRO said that only the essential staff will attend office. All the female staff have been advis
Published 22 Mar, 2020 12:00am
JI turns its health facilities, offices into Corona Help Centres

JI turns its health facilities, offices into Corona Help Centres

Jamaat-e-Islami (JI) Karachi has converted its 70 offices, hospitals and clinics into 'Coronavirus Help Centres' to facilitate the masses. Addressing a press conference here on Saturday at Idara Noor-e-Haq, JI Karachi Ameer Hafiz Naeem-ur-Rehman announced
Published 22 Mar, 2020 12:00am
KE vows to ensure power supply during stay-at-home
Energy

KE vows to ensure power supply during stay-at-home

K-Electric remains committed to ensuring customer support in the midst of the COVID-19 outbreak. In order to ensure continuity of services to customers, KE's field teams will continue to be on-ground to ensure the city of Karachi stays powered up.
Published 22 Mar, 2020 12:00am
Export-oriented industries: PHMA chief seeks PM's intervention
Cotton & Textile

Export-oriented industries: PHMA chief seeks PM's intervention

Pakistan Hosiery Manufacturers & Exporters Association's Central Chairman Chaudhry Salamat Ali has demanded immediate intervention of the Prime Minister of Pakistan Imran Khan to rescue the export-oriented industries which have reached on the brink of clo
Published 22 Mar, 2020 12:00am
Infinix S5 Pro launched
Telecommunication

Infinix S5 Pro launched

Infinix, a leading smartphone brand, has launched its latest devise Infinix S5 Pro with a pop-up selfie camera. Infinix Pakistan CEO Joe Hu said that they are introducing a new member to the Infinix S5 family.
Published 22 Mar, 2020 12:00am
Coronavirus patients' tally surge to 104 in Punjab

Coronavirus patients' tally surge to 104 in Punjab

While the screening of Corona suspects is underway, the total number of COVID-19 patients has reportedly risen to 104 across the province. As many as 10 affected patients are under treatment at Lahore's Mayo Hospital, one each in Services and Jinnah Hospi
Published 22 Mar, 2020 12:00am
PU labs turned into COVID-19 test centres

PU labs turned into COVID-19 test centres

Punjab University Vice Chancellor Prof Niaz Ahmad on Saturday has instructed to dedicate PU laboratories having specific standards for the test of coronavirus suspects on emergency basis. He was visiting the laboratories of Centre of Excellence in Molecul
Published 22 Mar, 2020 12:00am
PTA chief optimistic about realistic relief package
Cotton & Textile

PTA chief optimistic about realistic relief package

Pakistan Tanners Association (PTA) Chairman Sheikh Afzal Hussain has expressed confidence on Prime Minister Imran Khan that the proposed "Relief Package" for export Industries as proposed to be announced on coming Tuesday (24.03.2020) must have the follow
Published 22 Mar, 2020 12:00am
Government urged to order K-Electric to defer ISPA charges

Government urged to order K-Electric to defer ISPA charges

The leadership of the Karachi Chamber of Commerce & Industry (KCCI) and the industrial town associations here on Saturday urged the federal government to order the K-Electric to immediately stop and defer the Industrial Support Package Adjustment (ISPA),
Published 22 Mar, 2020 12:00am
Sindh government stands by PM, federal government: Nasir

Sindh government stands by PM, federal government: Nasir

The chief minister of Sindh, his entire cabinet and the administration is with the prime minister in these testing times when everyone was desperately making efforts to limit the spread of the novel coronavirus.
Published 22 Mar, 2020 12:00am
Greek quake damages buildings, no casualties reported

Greek quake damages buildings, no casualties reported

A strong 5.6 magnitude earthquake struck early Saturday in northwest Greece, damaging property in the city of Parga, authorities said. The quake struck at 0049 GMT (0249 local time), with the epicentre 11 kilometres (around six miles) from Parga in Kanala
Published 22 Mar, 2020 12:00am
North Cyprus rescues Syrians turned away by Nicosia

North Cyprus rescues Syrians turned away by Nicosia

Police in northern Cyprus said Saturday that they had rescued 175 Syrians from the sea after authorities in the island's south stopped them from disembarking the previous day. The eastern Mediterranean island is divided between the internationally-recogni
Published 22 Mar, 2020 12:00am
UAE reports first two deaths from coronavirus

UAE reports first two deaths from coronavirus

The United Arab Emirates on Friday reported the first two deaths from coronavirus in the country. Abu Dhabi has reported 140 infections so far, of whom 31 have recovered, but no deaths.
Published 22 Mar, 2020 12:00am
Australian police charge second man in alleged neo-Nazi terror plot

Australian police charge second man in alleged neo-Nazi terror plot

Australian counter-terrorism police have charged a second man with terrorism over an alleged right-wing plot to stage attacks outside Sydney, officials said Saturday. The 23-year-old had been in custody since March 15 when authorities charged another man,
Published 22 Mar, 2020 12:00am
Argentina lays out key economic road map amid debt talks
Global Business Economy

Argentina lays out key economic road map amid debt talks

Argentina's government laid out its most in-depth economic road map on Friday, a key step in debt talks after creditors clamored for more detailed information about the country's plans as both sides look to strike a restructuring deal.
Published 22 Mar, 2020 12:00am
Amazon raises overtime pay for warehouse workers
Global Business Economy

Amazon raises overtime pay for warehouse workers

Amazon.com Inc said on Saturday it is raising overtime pay for associates working in its US warehouses, as the world's largest online retailer tries to meet the rapidly growing demand for online shopping from consumers stuck at home during the coronavirus
Published 22 Mar, 2020 12:00am
Boeing suspends dividend, CEO foregoes pay
Global Business Economy

Boeing suspends dividend, CEO foregoes pay

Boeing Co will cancel CEO pay, suspend its dividend and extend a pause on share buybacks, the US planemaker said on Friday, as companies eager for government aid to curb fallout from the coronavirus face pressure to cut payouts to investors.
Published 22 Mar, 2020 12:00am
Plunge in smartphone shipments: report
Telecommunication

Plunge in smartphone shipments: report

Smartphone shipments took an historic plunge last month as the novel coronavirus disrupted supply and demand, industry tracker Strategy Analytics said on Friday. Global smartphone shipments dropped to 61.8 million in February, a 38 percent drop from the s
Published 22 Mar, 2020 12:00am
Shame on you, Britain tells coronavirus panic-buyers

Shame on you, Britain tells coronavirus panic-buyers

Britain on Saturday told people who were panic-buying and hoarding food due to the coronavirus outbreak to calm down, pointing to a video on social media showing an exhausted nurse driven to tears by finding shelves bare after her shift.
Published 22 Mar, 2020 12:00am
South Korea drastically limits short-selling
Stocks

South Korea drastically limits short-selling

South Korea on Tuesday dramatically tightened rules on short-selling for three months, one day after its main equities board saw a record outflow by foreign investors as the coronavirus epidemic ravages the country's economy.
Published 22 Mar, 2020 12:00am
World's top debt funds lose billions in coronavirus rout
Stocks

World's top debt funds lose billions in coronavirus rout

Coronavirus has hit the world's biggest debt funds, which have lost billions of dollars in value, Morningstar data shows, while one smaller fund shed half its value in a little over two weeks. Markets have lost trillions of dollars in value over that time
Published 22 Mar, 2020 12:00am
Wall Street dives, ends worst week since 2008
Stocks

Wall Street dives, ends worst week since 2008

Wall Street wrapped up its worst week since October 2008, with the Dow Jones Industrial Average and S&P 500 sliding more than 4% on Friday as tough restrictions imposed by New York and California to try to limit the spread of the coronavirus fuelled worri
Published 22 Mar, 2020 12:00am
Implied FX volatility gauges jump
Money & Banking

Implied FX volatility gauges jump

Expected price swings for some of the world's biggest currencies rocketed to multi-year highs on Thursday as a broad rush for US dollars forced traders to dump currencies across the board. Expected volatility gauges for the British pound against the dolla
Published 22 Mar, 2020 12:00am
Speculators' bets on US dollar turn net short
Money & Banking

Speculators' bets on US dollar turn net short

Speculators' bets on the US dollar swung to a net short position for the first time since June 2018 in the latest week, according to calculations by Reuters and US Commodity Futures Trading Commission data released on Friday.
Published 22 Mar, 2020 12:00am
Forint seen up, crown retreating this year
Money & Banking

Forint seen up, crown retreating this year

Hungary's forint is likely to just drift off a record low over the next year while the Czech crown is seen giving up recent gains, a Reuters poll showed, as central European currencies find little traction in 2020. Over the last year, the region's currenc
Published 22 Mar, 2020 12:00am
No business dealings seen on cotton market
Cotton & Textile

No business dealings seen on cotton market

No business dealings were seen on the local market on Saturday as all commercial centres including cotton market were closed due to self-isolation, dealers said.
Published 22 Mar, 2020 12:00am
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