News Archives for Print - 2020-03-23

Print - 2020-03-23

US envoy says Kabul, Taliban in first prisoner exchange talks

The Afghan government and the Taliban on Sunday held their first discussion on arranging prisoner exchanges, the US special envoy for Afghanistan said on Twitter. "Today, the US and Qatar facilitated the first Afghan government to Taliban technical talks

Published 23 Mar, 2020 12:00am

Deadly clashes as Guineans vote in disputed constitutional referendum

One person was killed and several injured as police fired tear gas in clashes with protesters in Guinea Sunday at the start of a bitterly-disputed referendum that critics say is a ploy by the president to stay in power. President Alpha Conde, who became t

Published 23 Mar, 2020 12:00am

Expatriates urged not to return

The special assistant to the prime minister on national security Dr Moeed Yusuf on Sunday advised expatriate Pakistanis against returning to the country due to COVID-19 pandemic, which killed three people, left over 600 infected and disrupted internationa

Published 23 Mar, 2020 12:00am

75 staffers of US Embassy leave in haste for Georgia

As coronavirus outbreak was accelerating in the country, some 75 staffers of US Embassy in Pakistan took a special flight to Georgia in haste on Sunday, fearing the crisis may get worse due to a lack of equipment for medics.

Published 23 Mar, 2020 12:00am

Punjab calls in Army

As the tally of confirmed novel coronavirus (Covid-19) cases rose to 163 in Punjab, the provincial government on Sunday decided to deploy personnel of Pak Army for the assistance of civil administration. "Currently, the number of coronavirus patients in P

Published 23 Mar, 2020 12:00am

PM again rules out possibility of country-wide lockdown

Prime Minister Imran Khan on Sunday once again ruled out the possibility of a lockdown as he sought to calm the nation amid challenges posed by coronavirus (COVID-19) situation in the country. In his second brief address to the nation, he called upon the

Published 23 Mar, 2020 12:00am

Sindh goes into 15-day lockdown

Sindh Chief Minister Syed Murad Ali Shah, in order to contain and curb further spread of coronavirus, on Sunday announced that the province would undergo a lockdown after midnight last night for the next 15 days. "I have no option but to save people of Si

Published 23 Mar, 2020 12:00am

Stocks

Futures spread up by 1155 basis points

The futures spread increased by 1155bps to 26.53 percent on the last day of the outgoing week. Trading activities on the futures counter remained thin as average daily volumes declined by 36.3 per cent during this week to 67.98 million shares as compared

Published 23 Mar, 2020 12:00am

Stocks

Worst-ever decline witnessed

Pakistan Stock Exchange witnessed worst ever decline after 2008-09 due to panic selling on investor concern over deadly coronavirus spread. The market remained under severe selling pressure during the first four sessions however saw fresh buying on the la

Published 23 Mar, 2020 12:00am

Razzak vows support to exporters, industry

Prime Minister Advisor on Commerce, Industries and Production and Investment, Abdul Razak Dawood has said that the government will provide all possible incentives to the exporters and industry at this critical time.

Published 23 Mar, 2020 12:00am

Holiday Notice

The offices of Business Recorder will remain closed today, Monday (March 23) on account of PAKISTAN DAY. Arrangements have, however, been made to bring out the newspaper and Internet edition tomorrow, Tuesday (March 24), as usual.

Published 23 Mar, 2020 12:00am

Money & Banking

Mixed patterns

The rupee showed modest changes against the dollar on the money market during the week, ended on March 20, 2020. The rupee shed 10 paisas versus the dollar for buying and selling at Rs 158.50 and Rs 158.60.

Published 23 Mar, 2020 12:00am

Pakistan Day today: PM for unity, discipline to fight Covid-19

Prime Minister Imran Khan while lauding the nerve of Pakistani nation against the ordeals in the past, urged the countrymen to show utmost unity, discipline and passion to fight the coronavirus pandemic that had engulfed the world.

Published 23 Mar, 2020 12:00am

Letters

'Managing spring rains'

This is apropos a Business Recorder editorial "Managing spring rains" carried by the newspaper yesterday. I'm thankful to the newspaper for forcefully highlighting a very important issue.

Published 23 Mar, 2020 12:00am

Articles

Crude reality: price crash means oil firms must slash spending

Confronted with a dizzying drop in prices, oil firms face a real challenge as they try to cut investment spending in order to survive a coronavirus-induced collapse in demand coupled with a Russia-Saudi Arabia price war.

Published 23 Mar, 2020 12:00am

Articles

Restoring planetary balance

"We are living on the planet as if we have another one to go to." Terry Swearingen. A statement that is apt to our attitude about planet earth. The only problem is that we can no longer fly to another place that is safe and sound. The Coronavirus crisis i

Published 23 Mar, 2020 12:00am

Articles

World economy

With COVID-19 unleashing devastation across the globe, around 170 countries and territories have registered over 140,000 confirmed cases as of 19 March, 2020. Many countries announced strict restrictions on immigration and air, sea and land travel among m

Published 23 Mar, 2020 12:00am

Resolving the moon sighting controversy

Almost every year two happy occasions in the Islamic calendar are observed on different days in this country, thanks to the insistence of Mufti Shahabuddin Popalzai, THE imam of Peshawar's historic Qasim Ali Khan Mosque, and Ruet-e-Hilal committee head mu

Updated 24 Mar, 2020 10:15am

Fall in C/A deficit

It is a matter of great satisfaction that current account (C/A) balance of the country continues to depict improvement during the current fiscal year. According to the latest information available from the State Bank of Pakistan, current account has poste

Updated 24 Mar, 2020 10:07am

Descon Oxychem donates 10,000kg of sanitizer

A delegation of Descon Oxychem Limited led by its Chief Executive Officer Imran Qureshi called on the Chief Minister Punjab Sardar Usman Buzdar at the chief minister's office on Sunday and donated 10 thousand kilogram sanitizer for the public hospitals of

Published 23 Mar, 2020 12:00am

Cotton & Textile

WEEKLY COTTON REVIEW: Rate, trading volume decrease

Cotton Markets in the world were crashed due to coronavirus. The rate of New York Cotton was at the lowest during the past ten years. The local textile sector is badly affected. Textile mills begin to close partially. Ginners were in distress. Delay in th

Published 23 Mar, 2020 12:00am

MQM-P rejoins federal cabinet

Muttahida Qaumi Movement Pakistan (MQM-P) has announced to rejoin federal cabinet after holding a meeting with Sindh Governor Imran Ismail. Khalid Maqbool Siddiqui announced in a press conference that MQM-P leadership has decided to become part of the fed

Published 23 Mar, 2020 12:00am

Sindh government sets up corona emergency fund

The Sindh government has established corona emergency fund to provide medical treatment to coronavirus patients, conduct tests, improve health facilities and financially assist the daily wagers.

Published 23 Mar, 2020 12:00am

Lockdown in Sindh: APNS asks government to exempt newspaper employees, hawkers

Government of Sindh has announced strong measures to enforce complete lockdown in order to combat the aggravating pandemic COVID 19 condition in Sindh. The All Pakistan Newspapers Society has noted that the movement of people would be restricted by law en

Published 23 Mar, 2020 12:00am

ECP chief meets Punjab CM

Chief Election Commissioner of Pakistan Sikandar Sultan Raja called on the Chief Minister Punjab Sardar Usman Buzdar at Chief Minister's Office, here on Sunday Matters of mutual interest and the overall situation came under discussion during the meeting.

Published 23 Mar, 2020 12:00am

Cotton & Textile

PTA urges KE to extend deadline of bills for a month

Chairman Pakistan Tanner's Association(PTA) Sheikh Afzal Hussain has urged all electric supply organizations like KE, LESCO etc to immediately announce the extension in deadline envisaged in their electric bills already issued to the consumers in Pakistan

Published 23 Mar, 2020 12:00am

DHO Tharparkar clarifies media reports

The District Health Officer Tharparkar Dr Irshad Ahmed Memon clarify the media reports and said that during last 24 hours 407 children under 5 years were brought in OPDs of different government hospitals of District Tharparkar. 40 required indoor treatmen

Published 23 Mar, 2020 12:00am

Business & Economy

SAI leaders laud Sindh government's steps to curb spread of coronavirus

Zubair Motiwala, patron of the Site Association of Industry (SAI) and president Suleman Chawla have expressed their confidence on the federal and Sindh governments' measures to curb the spread of the coronavirus but also showed deep concern over the growi

Published 23 Mar, 2020 12:00am

Business & Economy

PIA bans meal service in domestic flights

Pakistan International Airlines (PIA) on Sunday banned meal service in all domestic flights in order to contain the spread of COVID-19. In a statement issued here, PIA Flight Services General Manager Amir Bashir, said that the decision was taken in the be

Published 23 Mar, 2020 12:00am

Coronavirus epidemic: Hafeez, Sania finalise special relief package

Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh met Special Assistant to the Prime Minister on Social Protection and Poverty Alleviation Dr Sania Nishtar on Sunday to discuss and finalise the contours of the special relief pack

Published 23 Mar, 2020 12:00am

Prices of kitchen items skyrocket in retail market

A sharp increase in essential food commodities, items including vegetable, pulses, live chicken/meat, sugar, fruits and others was witnessed in retail market, according to survey conducted by Business Recorder here on Sunday.

Published 23 Mar, 2020 12:00am

NA speaker phones Shehbaz to hail his return

This time around there is no politics as ruling Pakistan Tehreek-e-Insaf (PTI) on Sunday started approaching the top leadership of opposition political parties in a bid to devise a joint strategy to fight coronavirus.

Published 23 Mar, 2020 12:00am

KP CM okays hiring of 1,299 doctors

KP Chief Minister Mahmood Khan has approved appointment of 1299 Medical Officers (MOs) in the health department on emergency basis to deal with the Corona patients. The Chief Minister has signed a summary moved by Health Department to this effect. The new

Published 23 Mar, 2020 12:00am

Ehsaas-Saylani Langar-on-Wheels introduced

Ehsaas and Saylani Welfare International Trust (SWIT) have decided to run "Ehsaas-Saylani Langar on Wheels" to deliver cooked food aid to needy people particularly labourers and daily wagers. This commenced at a busy bus station at Faizabad, the junction

Published 23 Mar, 2020 12:00am

Business & Economy

AGP detects irregularities of Rs 236.85 million in SIDB

The Auditor General of Pakistan (AGP) has detected financial irregularities to the tune of Rs.236.85 million in Small Industries Development Board (SIDB), Khyber Pakhtunkhwa in various heads including non-recovery, wasteful expenditures, non-adjustment, i

Published 23 Mar, 2020 12:00am

Coronavirus outbreak: KP government suspends inter-district public transport

The Khyber Pakhtunkhwa government Saturday suspended all inter-district public transport in the wake of the coronavirus (COVID-19) outbreak across the country. A notification issued by the KP Relief, Rehabilitation and Settlement Department said all inter

Published 23 Mar, 2020 12:00am

Stocks

Appellate bench rejects legal opinion of SECP commissioner

A two-member Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP) has rejected the legal opinion of SECP Commissioner (Securities Market Division) that renewal of registration of the Trading Rights Entitlement Certificate (TREC) ho

Published 23 Mar, 2020 12:00am

Imran urges Trump to lift sanctions on Iran

Prime Minister Imran Khan Sunday urged US President Donald Trump to lift sanctions on Iran on humanitarian grounds, as the country was worst hit by the recent wave of deadly coronavirus (COVID-9) pandemic.

Published 23 Mar, 2020 12:00am

Qureshi, Sri Lankan FM discuss situation arising out of Covid-19

Foreign Minister Makhdoom Shah Mahmood Qureshi held a telephone conversation with his Sri Lankan counterpart, Minister for Foreign Affairs Dinesh Gunawardenaon Sunday.

Published 23 Mar, 2020 12:00am

Kashmiri body urges India to 'unconditionally' release Yasin Malik

An organization dedicated to promoting the realization of Kashmiri people's UN-pledged right to self-determination has called on the United Nations to demand the immediate release of Jammu Kashmir Liberation Front chief Muhammad Yasin Malik who is being h

Published 23 Mar, 2020 12:00am

Impact of climate change: UN report calls water resources vital part of solution

Marking World Water Day, the United Nations launched a flagship report which says that reducing both the impacts and drivers of climate change will require major shifts in the way we use and reuse the Earth's limited water resources.

Published 23 Mar, 2020 12:00am

Business & Economy

Shortage of raw material creating problems for exporters: SCCI chief

President Sialkot Chamber of Commerce and Industry (SCCI) Muhammad Ashraf Malik has assured full support to the Federal and Provincial Government from the Industry of Sialkot in the wake of COVID-19 pandemic.

Published 23 Mar, 2020 12:00am

Pakistan Day: President reiterates unwavering support to IOJ&K people

While paying homage to the founding leaders on Pakistan Day, President Dr Arif Alvi expressed unshakable support with the people of Indian Occupied Jammu and Kashmir who had been subjected to an inhuman lockdown and communication blockade for over seven m

Published 23 Mar, 2020 12:00am

Ministerreviews anti-coronavirus arrangements

Minister for Housing and Urban Development Mian Mehmoodur Rasheed said that all-out resources are being utilized for remaining safe from looming Coronavirus threat.

Published 23 Mar, 2020 12:00am

Cotton & Textile

PRGMEA seeks special incentives for export sector

The Regional President of International Apparel Federation (IAF) and Chief Coordinator Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz A Khokhar on Sunday said that trade and commerce activities were adversely affected by

Published 23 Mar, 2020 12:00am

Plea to implement PHC ruling

Mohammad Parvez, a retired Treasury Officer of the State Bank of Pakistan (SBP) has demanded of the Prime Minister Imran Khan, Chief Justice of Pakistan and Governor SBP for provision of justice to him and guaranteeing his right.

Published 23 Mar, 2020 12:00am

CM Punjab reviews steps taken to curb lethal virus

On the directions of CM Punjab Sardar Usman Buzdar, Punjab Minister for Public Prosecution/Focal person Anti coronavirus Chaudhry Zaheerud Din visited Faisalabad and took briefing on precautionary arrangements against corona virus in the district.

Published 23 Mar, 2020 12:00am

PPC to remain closed for nine days

Peshawar Press Club (PPC) will remain closed from March 23 to March 31 as precautionary measure against the outbreak of coronavirus said a notification issued by Press Club administration here Sunday. The management of the press club banned holding press

Published 23 Mar, 2020 12:00am

Pakistan concerned at Yasin Malik's health conditions

Pakistan has expressed its deep concerns over the deteriorating health condition of the All Parties Hurriyat Conference (APHC) leader Muhammad Yasin Malik, who is incarcerated in Tihar jail.

Published 23 Mar, 2020 12:00am

Punjab, Sindh governments urged to suspend Tax Amendment Act

Fertilizer industry has urged the Punjab and Sindh governments to suspend Tax Amendment Act to avert disruption of supply across the country. In a letter to Chief Secretaries of both provinces, Brig Sher Shah Malik (Retd), Executive Director Fertilizer Ma

Published 23 Mar, 2020 12:00am

Five-year programme launched to increase productivity of wheat

A five years National Programme for enhancing profitability through increasing productivity of wheat costing Rs.16518 million has been initiated in Punjab; disclosed by Deputy Director Agriculture (Extension) Dr Iftikhar Ahmed Waraich on Sunday.

Published 23 Mar, 2020 12:00am

Cotton & Textile

APTPMA voices concern over closure of industry, business

Chairman (Central) All Pakistan Textile Processing Mills Association (APTPMA), Muhammad Pervez Lala, has expressed grave concern over closures of industry and business in the country due to coronavirus pandemic.

Published 23 Mar, 2020 12:00am

Bilawal for national unity, collective strategy to fight coronavirus

A video conference of the Central Executive Committee of the Pakistan People's Party was held on Sunday to take stock of the situation arising out of the coronavirus pandemic, the measures taken by the Sindh government and suggestions for a way forward.

Published 23 Mar, 2020 12:00am

AJK marks 'World Water Day'

Like rest of the world, world water day was observed across Azad Jammu Kashmir on Sunday with simplicity and renewal pledge to continue performing individual and collective role to save water besides to encourage the sincere efforts for the establishment

Published 23 Mar, 2020 12:00am

Partial lockdown to contain spread of Covid-19 in KP begins

Partial lockdown to prevent the spread of deadly Corona Virus (COVID-19) begun in different parts of Khyber Pakhtunkhwa, said reports pouring from different parts of the province.

Published 23 Mar, 2020 12:00am

AIOU to launch awareness drive on coronavirus

Allama Iqbal Open University (AIOU) has decided to undertake an awareness campaign on prevention of the coronavirus through banners and pana-flexes, to be displayed at the main entrance points here at the main campus and the regional offices across the co

Published 23 Mar, 2020 12:00am

First Pakistani doctor dies of coronavirus

Dr Usama Riaz, who played a vital role in screening suspected patients in the region, has passed away as number of coronavirus cases in Pakistan rose to 777. A statement issued by Gilgit-Baltistan Information Department stated with great grief that Dr Usa

Published 23 Mar, 2020 12:00am

18 new cases of virus surface in Karachi as tally rises to 703 in country

The number of coronavirus case is continued to rise as of Sunday night, the number of cases in the county is at 703 after 41 new COVID-19 cases surfaced -18 in Karachi and 23 in pilgrims at Sukkur quarantine centre.

Published 23 Mar, 2020 12:00am

Football

Italian football club Brescia warn of 'plague'

The president of Italian football club Brescia who are based in the epicentre of the coronavirus pandemic said it was time to cancel the Serie A season because of "the plague". Serie A basement dwellers Brescia are destined for relegation - should the mat

Published 23 Mar, 2020 12:00am

Cricket

Cook says four-day game may be curtailed by virus pandemic

Former England captain Alastair Cook has suggested the four-day County Championship may have to be curtailed or abandoned completely so officials can salvage "the most profitable parts of the English summer" following the coronavirus outbreak.

Published 23 Mar, 2020 12:00am

Other

French athletics chief joins calls for Olympic postponement

The president of the French Athletics Federation on Sunday said he did not understand why the International Olympic Committee (IOC) was refusing to postpone the Tokyo Olympics in the face of the coronavirus pandemic.

Published 23 Mar, 2020 12:00am

Other

Most US athletes want Olympic delay

Almost three-quarters of the 300 US athletes who took part in a virtual town hall with US Olympic officials support delaying the 2020 Tokyo Games, USA Today reported Sunday.

Published 23 Mar, 2020 12:00am

Other

Thousands flock to see Olympic flame in Japan

Tens of thousands of people flocked to a cauldron with the Olympic flame in northeastern Japan over the weekend despite concerns about the coronavirus pandemic.

Published 23 Mar, 2020 12:00am

Other

Sinfield runs solo marathon in support of stricken Burrow

Kevin Sinfield has completed a solo marathon to raise money for Rob Burrow after his former Leeds rugby league team-mate was diagnosed with motor neurone disease. Sinfield, now Leeds' director of rugby, had planned to run the Manchester marathon on April

Published 23 Mar, 2020 12:00am

Other

Dubai's $12 million World Cup horse race cancelled

Racing's 'Dubai World Cup' has been postponed until next year due to the coronavirus, organisers said on Sunday. This year's event was scheduled for March 28.

Published 23 Mar, 2020 12:00am

Football

Former Real Madrid president Sanz dies after contracting coronavirus

Former Real Madrid president Lorenzo Sanz, who was hospitalised with coronavirus, died on Saturday at the age of 76, his son announced. Sanz was in charge of the Spanish giants from 1995-2000, overseeing two Champions League titles.

Published 23 Mar, 2020 12:00am

Commodities

China's Tianqi postpones commissioning of Australia lithium plant

Tianqi Lithium Corp, one of the world's biggest lithium producers, said on Sunday it had postponed commissioning of the first phase of its flagship Australian processing plant due to rising liquidity problems after the coronavirus outbreak.

Published 23 Mar, 2020 12:00am

Global Business Economy

Emirates stops nearly all passenger flights, slashes wages

Emirates, one of the world's biggest long-haul airlines, said on Sunday it would stop nearly all passenger flights this week and cut staff wages by as much as half because of the coronavirus impact on travel demand.

Published 23 Mar, 2020 12:00am

Energy

Russia blames Gulf nations for oil crash

Russia did not seek an end to cooperation with OPEC or a sharp drop in oil prices, a senior Russian official told the TASS news agency, saying the Gulf nations are to blame for the crisis on global oil markets. The Organization of the Petroleum Exporting

Published 23 Mar, 2020 12:00am

Australia announces nearly $40 billion in virus relief

Australia on Sunday announced a $38 billion spending plan to limit the economic damage from the coronavirus pandemic, as citizens were told to cancel domestic travel plans to slow the virus spread. Treasurer Josh Frydenberg said the latest Aus$66 billion

Published 23 Mar, 2020 12:00am

Money & Banking

US lines up multi-trillion dollar coronavirus aid packages

Congress and the US government were working furiously on Sunday to provide trillions of dollars in rescue money aimed at cushioning both businesses and ordinary Americans from the devastating impact of the coronavirus pandemic.

Published 23 Mar, 2020 12:00am

Money & Banking

Chinese issuers turn to bond exchanges as repayment pressures build

A Chinese manufacturer of industrial equipment has become the first company in the country to conduct a bond exchange offer in its exchange-traded bond market, marking a step toward simplifying debt restructurings as default risks rise.

Published 23 Mar, 2020 12:00am

Money & Banking

Egypt to allocate 20 billion Egyptian pounds to support bourse

Egypt will allocate 20 billion Egyptian pounds ($1.27 billion) to support the stock exchange, President Abdel Fattah al-Sisi said on Sunday, after share prices were battered by the economic impact of the spreading coronavirus.

Published 23 Mar, 2020 12:00am

Stocks

Gulf stocks slide as coronavirus spooks region

Stock markets in the Gulf traded lower on Sunday, mostly pressured by banking shares as the economic outlook for the region worsened in face of the coronavirus outbreak. More than 274,800 people have been infected by the global epidemic and 11,389 have di

Published 23 Mar, 2020 12:00am

Money & Banking

US bond funds lose $32.3 billion assets

US bond funds lost $32.3 billion in assets last week as the economic shock of the rapidly-spreading coronavirus pandemic heightened concerns about corporate balance sheets, marking the steepest drop in assets since at least 2013, according to data release

Published 23 Mar, 2020 12:00am

Stocks

TSX extends weekly decline, loonie rally ebbs

Canada's main stock market fell and the loonie gave back much of its earlier gains on Friday, with both down sharply for the week, as global efforts to contain the spread of the coronavirus pandemic weighed on the economic outlook.

Published 23 Mar, 2020 12:00am

Money & Banking

Crypto-market infrastructure creaks amid volatility test

As worries over the economic hit from the coronavirus outbreak spread from stocks, oil and bonds to cryptocurrencies late last week, bitcoin crashed to its worst day in seven years. But plummeting prices weren't the only problem for investors.

Published 23 Mar, 2020 12:00am

Money & Banking

America's money market industry: is it at risk?

Seen as a quintessentially safe bet for many Americans, the $3.8 trillion money-market fund industry is under severe duress for a second time in the past decade as investors weigh the risk of a global economic shutdown.

Published 23 Mar, 2020 12:00am

Money & Banking

Italy Treasury sees 2020 GDP falling around three percent

The Italian Treasury currently expects the economy to contract around 3% this year, hit by the lockdown imposed to fight the country's coronavirus outbreak, two sources familiar with the matter told Reuters on Friday.

Published 23 Mar, 2020 12:00am

Stocks

Wall Street week ahead

US stock valuations are tumbling in the wake of the coronavirus-fueled market rout, but determining when equities are cheap enough to buy is a tricky proposition.

Published 23 Mar, 2020 12:00am

Money & Banking

Sberbank sticks to fat dividend promise despite global sell offs

Russia's biggest bank Sberbank said on Tuesday its board recommended a dividend payment of 50% of its net profit, sticking to an earlier commitment to pay generous dividends despite global sell offs caused by the coronavirus outbreak.

Published 23 Mar, 2020 12:00am

Global Business Economy

Boeing seeking 'tens of billions' in US government loan guarantees

Boeing Co is seeking "tens of billions of dollars" in US government loan guarantees and other assistance as faces it a looming liquidity crunch from the massive coronavirus economic disruption impacting the entire aviation sector, two people briefed on th

Published 23 Mar, 2020 12:00am

Global Business Economy

Amazon stops receiving non-essential products from sellers amid coronavirus outbreak

Amazon.com Inc is suspending sellers from sending non-essential products to its US and U.K. warehouses until April 5 in the latest move to free up inventory space for much-needed supplies that are in shortage as a result of the coronavirus outbreak.

Published 23 Mar, 2020 12:00am

Money & Banking

Europe's banks warn of investment cuts, falling income as virus hits

Some of Europe's biggest banks have warned the coronavirus will hit their already under-pressure earnings, as a lockdown in Britain and across parts of continental Europe will slow economic activity, eat into fee income and put corporate borrowers at risk

Published 23 Mar, 2020 12:00am

Global Business Economy

Volkswagen suspends production as coronavirus hits sales

Volkswagen Group , the world's biggest carmaker, is suspending production at factories across Europe as the coronavirus pandemic hits sales and disrupts supply chains, the company said on Tuesday. The German carmaker, which owns the Audi, Bentley, Bugatti

Published 23 Mar, 2020 12:00am

Global Business Economy

Factories shift operations in scramble to restock supermarket shelves

With supermarkets stripped of food and many other essentials, consumer product companies halted factory runs of niche items such as scented bleach in order to speed up production of more basic merchandise that is in high demand.

Published 23 Mar, 2020 12:00am

Global Business Economy

Swatch Group faces standstill in Europe, US, but China improves

Swatch Group is trying to maintain production at its factories despite the customer standstill hitting all businesses in Europe and the United States, the Swiss watchmaker said on Thursday. "Of course we have seen a strong impact on sales in February and

Published 23 Mar, 2020 12:00am

Global Business Economy

Airlines seek emergency aid as coronavirus brings industry to a near halt

Airlines made unprecedented cuts to flights, costs and staffing on Monday, stepping up calls for emergency aid as coronavirus lockdowns and new travel restrictions hit more major routes.

Published 23 Mar, 2020 12:00am

Coronavirus can persist in air for hours, on surfaces for days

The highly contagious novel coronavirus that has exploded into a global pandemic can remain viable and infectious in droplets in the air for hours and on surfaces up to days, according to a new study that should offer guidance to help people avoid contrac

Published 23 Mar, 2020 12:00am

No soap, no water: billions lack basic protection

As nations around the world fight the coronavirus pandemic with mass lockdowns and travel bans, UN experts warn that some three billion people lack even the most basic weapons to protect themselves: soap and running water.

Published 23 Mar, 2020 12:00am

Crowded, poor South Asia sees steady rise in coronavirus cases

Health authorities across South Asia reported rising tallies of coronavirus cases on Monday, raising the prospect of rapidly spreading outbreaks overwhelming poor medical facilities in a region that is home to a quarter of the world's people.

Published 23 Mar, 2020 12:00am

'Avoid self-medication'

The World Health Organization recommended Tuesday that people suffering from COVID-19-like symptoms should avoid self-medicating with ibuprofen, after French authorities warned anti-inflammatory drugs could worsen the effects of the virus.

Published 23 Mar, 2020 12:00am

Telecommunication

Xiaomi says 80 percent of supply chain operational ahead of 5G phone launch

China's Xiaomi had resumed operations for over 80 percent of its supply chain as of Thursday in the wake of the country's coronavirus outbreak, the company's president said. Wang Xiang told an online media briefing that the company was still very confiden

Published 23 Mar, 2020 12:00am

IT & Computers

Google exploring using location info to slow coronavirus spread

Alphabet Inc's Google is exploring ways to use location information to slow the spread of the coronavirus by, for example, determining the effectiveness of social distancing. US Senator Ed Markey, who has long championed consumer privacy, urged caution wi

Published 23 Mar, 2020 12:00am

IT & Computers

Asia deploys innovative, if invasive, tech to curb virus

Electronic bracelets and phones that report your whereabouts, text messages if you stray too far from quarantine and digital detectives tracking where you've been - Asian countries have embraced innovative, if somewhat invasive, tech to counter the corona

Published 23 Mar, 2020 12:00am

Telecommunication

Thales, Telstra, Microsoft & Arduino deliver scalable trust for easy-to-deploy IoT applications

Thales and Telstra, Australia's leading telecommunications company are working with Microsoft and Arduino to pave the way for scalable security for connected IoT devices, by implementing a solution that enables trusted and secure end-to-end communication

Published 23 Mar, 2020 12:00am

IT & Computers

Internet platforms vow joint effort to stem virus misinformation

The large US internet platforms have pledged a joint effort to root out misinformation about the coronavirus pandemic and to promote "authoritative content" about the crisis. A joint statement was issued late Monday by Facebook, Google, Twitter, Microsoft

Published 23 Mar, 2020 12:00am

IT & Computers

Raftr to offer instant communication platform free of charge to colleges & universities

Silicon Valley-based higher ed tech company Raftr announced March 16 that it will offer its messaging and notifications platform free of charge through July 1, 2020 to colleges and universities, many of which are facing disruption and dislocation as a res

Published 23 Mar, 2020 12:00am

Maoist rebels gun down 17 Indian police

Hundreds of Maoist rebels gunned down 17 Indian security forces in one of the deadliest ambushes in recent years by the militants, a police spokesman said. More than 300 armed rebels took part in the attack on a police commando patrol in the jungles of Su

Published 23 Mar, 2020 12:00am

Millions of face masks from China land in Czech Republic

A giant cargo plane carrying over 100 tons of medical material from China, including million of face masks, has landed at a Czech airport, the defence ministry said on Sunday.

Published 23 Mar, 2020 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 22	252.10

Gainers
Losers
Leaders

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72

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