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Print - 2020-04-01
Rs 50 billion being allocated to USC: Umar

Rs 50 billion being allocated to USC: Umar

Minister for Planning, Development and Special Initiatives Asad Umar has said that it is essential for the government to strike a balance between preventing the spread of the coronavirus and keeping the economy running.
Published 01 Apr, 2020 12:00am
Financial assistance: Countrywide survey launched

Financial assistance: Countrywide survey launched

The federal government has launched a countrywide data survey regarding the distribution of financial assistance to the deserving public in line with Prime Minister Imran Khan's initiative to launch Economic Package for the less privileged masses in the b
Published 01 Apr, 2020 12:00am
$2 billion export losses feared

$2 billion export losses feared

Commerce Ministry has claimed that Pakistan will face export loss of $ 2 billion, besides delayed payments due to outbreak of coronavirus in Europe and United States of America.
Published 01 Apr, 2020 12:00am
61 new cases detected in Sindh

61 new cases detected in Sindh

Sindh Chief Minister Syed Murad Ali Shah has said that 61 new cases of the coronavirus have been detected in the last 24 hours, taking the total number of cases in the province to 627.
Published 01 Apr, 2020 12:00am
Pakistan will be amongst hardest-hit economies: UN

Pakistan will be amongst hardest-hit economies: UN

Developing countries, including Pakistan, will be hit hardest by the economic shockwaves caused by the novel coronavirus crisis that has shaken the world and will need a support package of up to $2.5 trillion to cope with the damage, a United Nations repo
Published 01 Apr, 2020 12:00am
G20 plan focuses on poorer countries' debt problems

G20 plan focuses on poorer countries' debt problems

The Group of 20 major economies said on Tuesday that they would present a coronavirus action plan in two weeks to address the debt vulnerabilities of the poorest countries and deliver financial aid to emerging economies.
Published 01 Apr, 2020 12:00am
Launch deferred till today

Launch deferred till today

Prime Minister Imran Khan Tuesday deferred the formal launch of 'Corona Relief Tiger Force' till today (Wednesday) amid strong reservations expressed by opposition political parties.
Published 01 Apr, 2020 12:00am
'Corona Relief Tiger Force': Opposition parties reject PM's initiative

'Corona Relief Tiger Force': Opposition parties reject PM's initiative

Opposition political parties on Tuesday rejected Prime Minister Imran Khan's initiative - formation of "Corona Relief Tiger Force" - and instead proposed setting up of a "Parliamentary Monitoring Committee" to prevent the possible distribution of the fund
Published 01 Apr, 2020 12:00am
OICCI urges government to 'ease' lockdown

OICCI urges government to 'ease' lockdown

The Overseas Investors Chamber of Commerce and Industry (OICCI) has urged the federal government and provinces to ease the Coronavirus lockdown restrictions and facilitate exporters, as well as manufacturers, transporters, distributors and retailers of es
Published 01 Apr, 2020 12:00am
Shahbaz makes telephonic contacts with opposition leaders

Shahbaz makes telephonic contacts with opposition leaders

Opposition leader and PML-N leader Shahbaz Sharif on Tuesday made telephonic contacts with opposition leaders and held consultations with regard to formation of parliamentary monitoring committee on coronavirus.
Published 01 Apr, 2020 12:00am
Steel sector demands tax relief package

Steel sector demands tax relief package

Steel sector has demanded of the government to unveil a tax relief package on an immediate basis following coronavirus (COVID-19) pandemic.
Published 01 Apr, 2020 12:00am
Tablighi Jamaat's Delhi office sealed off

Tablighi Jamaat's Delhi office sealed off

India sealed off the headquarters of a Muslim missionary group on Tuesday and ordered an investigation into accusations it held religious meetings that officials fear may have infected dozens of people with the coronavirus.
Published 01 Apr, 2020 12:00am
China's approach to Covid-19 challenge
Letters

China's approach to Covid-19 challenge

This is apropos a Business Recorder op-ed "Origins and challenges of coronavirus pandemic" carried by the newspaper yesterday. The writer, Rashed Rahman, has ably explained the China 'model' and the contrasting approaches to dealing with the challe
Published 01 Apr, 2020 12:00am
Discount rate at 11 percent - is that enough? - II
Articles

Discount rate at 11 percent - is that enough? - II

The reported claim by the SBP Governor and Dr Hafeez Sheikh that the main selling point for a high discount rate is its linkage to the rate payable by the National Savings Centres (NSCs) to domestic savers (widows and pensioners) is also challengeable. Tr
Published 01 Apr, 2020 12:00am
Public health vs economic health
Articles

Public health vs economic health

Focusing exclusively on public health rather than trying to strike a balance between human and economic health, China seems to have succeeded by March 15, in preventing, to a large extent, Covid-19 spreading exponentially in the mainland since it first st
Published 01 Apr, 2020 12:00am
Overzealous accountability

Overzealous accountability

Exactly a month after the Islamabad High Court (IHC) granted him bail in the LNG terminal reference case, an accountability court issued non-bailable arrest warrants for former prime minister Shahid Khaqan Abbasi in a fresh case. This time, the National A
Updated 02 Apr, 2020 09:14am
What after allowing goods transport?

What after allowing goods transport?

The government has done the right thing by lifting the ban on inter-provincial transport of goods even as the number of infected cases and deaths from the coronavirus increases by the day. Not only will this decision help meet demand for essential items a
Updated 02 Apr, 2020 09:07am
PM's latest directives

PM's latest directives

In a formal televised address to the nation Prime Minister Imran Khan announced the establishment of Prime Minister's fund dedicated to dealing with the Coronavirus in National Bank of Pakistan (NBP). Critics who are dishing this proposal as one which was
Updated 02 Apr, 2020 09:14am
Online classes begin at Swabi women varsity

Online classes begin at Swabi women varsity

The Women University Swabi, which will remain closed till May 30, has started online classes by shifting more than 400 courses of all the 18 departments on Google classrooms and online lectures.
Published 01 Apr, 2020 12:00am
KWSB's donation for Sindh Coronavirus Emergency Fund

KWSB's donation for Sindh Coronavirus Emergency Fund

A cheque presentation ceremony was held at the Sindh Bank Head Office on March 30. The contribution was from the Karachi Water & Sewerage Board (KWSB) for Rs 22,173,913 for the Sindh Government Coronavirus Emergency Fund.
Published 01 Apr, 2020 12:00am
SC dismisses bail application of murder convict

SC dismisses bail application of murder convict

The Supreme Court on Tuesday dismissed the bail application of a murder convict. A two-judge bench, headed by Justice Umar Ata Bandial heard the bail appeal of Javed Akhtar. Latif Khosa advocate, representing the petitioner, Javed Akhtar argued that one y
Published 01 Apr, 2020 12:00am
Lockdown to be further tightened in Capital

Lockdown to be further tightened in Capital

In the wake of rapid increase in the number of coronavirus cases in the country in general, and the capital city in particular, the Islamabad Capital Territory (ICT) Administration has decided to further tighten the lockdown in order to control the spread
Published 01 Apr, 2020 12:00am
Distribution of ration: Sindh minister for engaging LG representatives

Distribution of ration: Sindh minister for engaging LG representatives

Sindh Minister for Information Syed Nasir Hussain Shah, while reacting to Prime Minister Imran Khan's decision to form a "tiger force" to stop the spread of the coronavirus, said that Imran Khan had already used the name "tiger" on previous occasions, and
Published 01 Apr, 2020 12:00am
MQM-P vows to deliver goods at people's doorsteps

MQM-P vows to deliver goods at people's doorsteps

Muttahida Qaumi Movement-Pakistan (MQM-P) convener Dr. Khalid Maqbool Siddiqui said on Tuesday that his party would not leave the people alone in the present crisis caused by the coronavirus.
Published 01 Apr, 2020 12:00am
PCDMA chief urges FBR to withdraw tax notices
Taxes

PCDMA chief urges FBR to withdraw tax notices

Chairman Pakistan Chemicals & Dyes Merchants Association (PCDMA) and former director Karachi Stock Exchange, Amin Yousuf Balgamwala has urged the Chairman Federal Board of Revenue to waive all notices including income tax, sales tax, WHT and all proceedin
Published 01 Apr, 2020 12:00am
Eight quarantine centres set up in Tharparkar

Eight quarantine centres set up in Tharparkar

The mutual effective measures is being taken to cope up the coronavirus , Tharparkar district is still safe from the coronavirus with the team work done by the District Administration, departments concerned and law enforce agencies and all the measures ha
Published 01 Apr, 2020 12:00am
PN to donate for corona relief fund

PN to donate for corona relief fund

While the country is combating coronavirus pandemic, Pakistan Navy has also lined-up its resources to counter implications of Corona virus across the country. In this perspective, Pakistan Navy has decided to contribute in Corona Relief Fund.
Published 01 Apr, 2020 12:00am
Mayor distributes food

Mayor distributes food

Mayor of Karachi Wasim Akhtar on Tuesday distributed food in UC-26, I. I. Chundrigar Road and directed the union committee chairmen to do the same in their areas.
Published 01 Apr, 2020 12:00am
'Injustice against seafood processing industry should end'

'Injustice against seafood processing industry should end'

The country's $450-million seafood export business seeks an electricity tariff structure similar to those of the five zero-rated sectors, saying that the "injustice" against the seafood processing industry should end, exporters said on Tuesday.
Published 01 Apr, 2020 12:00am
FBR urges people to pay taxes
Taxes

FBR urges people to pay taxes

Federal Board of Revenue has issued a statement wherein it has been appealed to the taxpayers to pay their due taxes in time to increase the revenue resource of the government. The government will utilize the resources to effectively provide services to t
Published 01 Apr, 2020 12:00am
Ogra slashes LPG price by Rs462.78
Energy

Ogra slashes LPG price by Rs462.78

The Oil and Gas Regulatory Authority (OGRA) has slashed the price of indigenous liquefied petroleum gas (LPG) by Rs462.78 per 11.8kg domestic cylinder for the month of April 2020, due to low consumption and decline in petroleum price globally.
Published 01 Apr, 2020 12:00am
NTDC employees: Chinese group donates 10,000 face masks
Energy

NTDC employees: Chinese group donates 10,000 face masks

Chinese Energy Engineer Group, Jiangsu Power Design Institute Company Limited, has donated 10,000 medical face masks for the employees of National Transmission and Dispatch Company (NTDC) to keep them protected from Coronavirus while performing their duti
Published 01 Apr, 2020 12:00am
Railways extends suspension of passenger trains
Business & Economy

Railways extends suspension of passenger trains

The Pakistan Railways (PR) has extended the suspension of all passenger trains which was expiring at 12:00 midnight till further order. Extending the notification earlier issued, Chairman Railways Habib-ur-Rehman said that the passengers, who had booked t
Published 01 Apr, 2020 12:00am
PPP's video-link APC today

PPP's video-link APC today

Pakistan People Party (PPP) Punjab has deferred its video-link All Parties Conference (APC) for a day. This APC will now take place on Wednesday (today), said Hassan Murtaza, spokesman of PPP Punjab.
Published 01 Apr, 2020 12:00am
AC allows transit remand of Mir Shakil

AC allows transit remand of Mir Shakil

An accountability court on Tuesday allowed transit remand of Jang group editor-in-chief Mir Shakilur Rehman to attend funeral of his elder brother in Karachi.
Published 01 Apr, 2020 12:00am
Government trying to get IMF, WB, ADB loans rescheduled: Qureshi

Government trying to get IMF, WB, ADB loans rescheduled: Qureshi

Foreign Minister Makhdoom Shah Mehmood Qureshi said on Tuesday that government was trying to get loans rescheduled from International Monetary Fund (IMF), World Bank (WB) and Asian Development Bank (ADB) to deal coronavirus pandemic effectively. "The resc
Published 01 Apr, 2020 12:00am
CS for expediting cleaning and disinfecting of roads, mosques

CS for expediting cleaning and disinfecting of roads, mosques

Punjab Chief Secretary Azam Suleman Khan has directed that the ongoing disinfection campaign should be divided into two zones and the process of cleaning and disinfecting roads, mosques and public places be completed at the earliest.
Published 01 Apr, 2020 12:00am
Government in constant touch with Iran on issue of zaireen: FO

Government in constant touch with Iran on issue of zaireen: FO

The Government of Pakistan is in constant touch with the Iranian government on the issue of zaireen (pilgrims) and is working together through mutual consultation to facilitate the stranded Pakistani citizens, the Foreign Office said.
Published 01 Apr, 2020 12:00am
158 pilgrims tested positive in Balochistan

158 pilgrims tested positive in Balochistan

Chief Secretary (SC) Balochistan Captain Fazeel Asghar (retd) on Tuesday said at least 1854 of Zahireen have been tested from 5000 visitors in which 158 test reports were diagnosed positive as 19 patients of them were recovered from the virus.
Published 01 Apr, 2020 12:00am
KP textile millers for exemption from lockdown
Cotton & Textile

KP textile millers for exemption from lockdown

Mar.31-Khyber Pakhtunkhwa Textile Mills Association (KPTMA) has demanded of the provincial government for the exemption of textile mills of holidays or allowing operation at least for minimum level to fulfill the demands of exporters.
Published 01 Apr, 2020 12:00am
Berger Paints Pakistan Limited
Brief Recordings

Berger Paints Pakistan Limited

Berger Paints Pakistan (PSX: BERG) began its operations three years after the inception of Pakistan- in 1950. It later became a public limited company in 1974.
Updated 01 Apr, 2020 04:57am
Trump calls for $2 trillion infrastructure spending
Global Business Economy

Trump calls for $2 trillion infrastructure spending

President Donald Trump called Tuesday for a $2 trillion infrastructure package, saying cheap credit now allows for a "bold" initiative just when the US economy is reeling from the coronavirus shutdown.
Published 01 Apr, 2020 12:00am
China's factory activity rebounds
Global Business Economy

China's factory activity rebounds

Chinese factory activity saw surprise growth in March as businesses grind back to work following a lengthy shutdown but analysts said the economy faces a challenging recovery as external demand is devastated by coronavirus, while the World Bank warned gro
Published 01 Apr, 2020 12:00am
US consumer confidence approaches three-year low
Global Business Economy

US consumer confidence approaches three-year low

US consumer confidence dropped to a near three-year low in March as households worried about the economy's near-term outlook amid the coronavirus pandemic, which has upended life for Americans.
Published 01 Apr, 2020 12:00am
UK appoints Skripal probe boss as new MI5 chief

UK appoints Skripal probe boss as new MI5 chief

The head of the investigation into the poisoning of Russian former double agent Sergei Skripal has been appointed as the next head of Britain's domestic intelligence agency.
Published 01 Apr, 2020 12:00am
Nineteen killed in massive China forest fire

Nineteen killed in massive China forest fire

Eighteen firefighters and one forestry guide died while fighting a huge forest fire in southwestern China, the local government said Tuesday. State television footage showed large flames shooting into the sky from the mountains above the city of Xichang i
Published 01 Apr, 2020 12:00am
Congo ex-president Yombi Opango dies of coronavirus

Congo ex-president Yombi Opango dies of coronavirus

Former Republic of Congo president Jacques Joaquim Yhombi Opango died in France on Monday of the new coronavirus, his family told AFP. He was 81. Yhombi Opango, who led Congo-Brazzaville from 1977 until he was toppled in 1979, died at a Paris hospital of
Published 01 Apr, 2020 12:00am
Satellite data lays scale of methane leaks bare
Energy

Satellite data lays scale of methane leaks bare

Methane, a powerful greenhouse gas, is leaking from industry sites at rates equivalent to the annual carbon emissions of France and Germany combined, a new analysis using satellite data showed Tuesday.
Published 01 Apr, 2020 12:00am
Czechs test 'smart quarantine' to curb virus impact
IT & Computers

Czechs test 'smart quarantine' to curb virus impact

Czech authorities are testing a new IT system to quickly trace back the contacts of those infected with coronavirus to curb the spread, a spokeswoman said Tuesday.
Published 01 Apr, 2020 12:00am
Europe sends medical gear to Iran in first sanction-bypass deal
Global Business Economy

Europe sends medical gear to Iran in first sanction-bypass deal

European nations have delivered medical goods to Iran in the first transaction under the Instex mechanism set up to bypass American sanctions on Tehran, the German foreign ministry said Tuesday.
Published 01 Apr, 2020 12:00am
Nikkei falls
Stocks

Nikkei falls

Japanese stock benchmark Nikkei dropped on Tuesday on growing fears that Tokyo could go into its first-ever lockdown as the global coronavirus crisis showed no signs of abating.
Published 01 Apr, 2020 12:00am
Most Gulf stocks extend losses
Stocks

Most Gulf stocks extend losses

Most Gulf stock markets declined on Tuesday, as investors remained worried by the chronic weakness of oil prices and lockdowns across much of the world, while Saudi Arabia bucked the trend.
Published 01 Apr, 2020 12:00am
European shares set for worst quarter since 2002
Stocks

European shares set for worst quarter since 2002

European stock markets regained more ground on Tuesday after a brutal selloff this month, with investors measuring the impact of massive official stimulus efforts against a near total shut down in global supply chains due to the coronavirus pandemic.
Published 01 Apr, 2020 12:00am
Wall Street rallies, led by healthcare jump
Stocks

Wall Street rallies, led by healthcare jump

US stocks rose on Monday, led in part by healthcare stocks as investors looked for shares that have become cheap and can withstand the impact to the economy from efforts to stem the spread of the coronavirus.
Published 01 Apr, 2020 12:00am
Indian shares up
Stocks

Indian shares up

Indian shares closed higher on Tuesday, tracking broader Asian markets, but recorded their worst monthly and yearly performance in over a decade as the country grappled with disruption caused by the fast-spreading coronavirus.
Published 01 Apr, 2020 12:00am
FTSE rises yet closes in on worst quarter since 1987
Stocks

FTSE rises yet closes in on worst quarter since 1987

UK shares rose on Tuesday as a recovery in oil prices and a surprise expansion in Chinese factory activity revived confidence in equity markets amid a deep selloff this month that set the FTSE 100 on course for its worst quarter since 1987.
Published 01 Apr, 2020 12:00am
China stocks suffer worst quarter since 2018
Money & Banking

China stocks suffer worst quarter since 2018

Chinese shares edged up on Tuesday after the country reported a better-than-expected industrial activity, though fears of an economic fallout of the coronavirus pandemic led the stock market to its worst quarter since 2018.
Published 01 Apr, 2020 12:00am
Early trade in New York: dollar climbs against majors
Money & Banking

Early trade in New York: dollar climbs against majors

The dollar climbed against major currencies on Tuesday amid quarterly and fiscal year-end demand from portfolio managers and Japanese firms. Analysts said the steep fall in US equity markets during the month of March led to increased buying of dollars for
Published 01 Apr, 2020 12:00am
Dollar surges in Europe on quarter-end flows
Money & Banking

Dollar surges in Europe on quarter-end flows

The dollar climbed against a swathe of currencies on Tuesday amid fiscal year-end demand by Japanese firms while the Australian dollar slipped despite a Chinese survey showing manufacturing returned to growth in March.
Published 01 Apr, 2020 12:00am
Sterling rises
Money & Banking

Sterling rises

Sterling rose on Tuesday as investors readjusted their portfolios at the end of the first quarter of 2020, although analysts said the currency remained fragile.
Published 01 Apr, 2020 12:00am
Russian wheat export prices jump
Commodities

Russian wheat export prices jump

Russian wheat export prices jumped alongside European benchmarks last week while domestic prices were tempered by higher supply from farmers selling to raise cash for spring sowing, analysts said on Monday.
Published 01 Apr, 2020 12:00am
European wheat prices steady on brisk exports
Commodities

European wheat prices steady on brisk exports

European wheat prices were steady on Monday as a strong export pace continued to support the market, while traders assessed the consequences of the coronavirus epidemic, including a plan by top wheat exporter Russia to cap grain shipments.
Published 01 Apr, 2020 12:00am
CBOT soyabean futures mixed
Commodities

CBOT soyabean futures mixed

Chicago Board of Trade soyabean futures ended mixed on Monday as worries that the coronavirus pandemic could curb South American soya shipments largely offset spillover pressure from the sinking corn market, traders said.
Published 01 Apr, 2020 12:00am
Iron ore futures fall in China and Singapore
Commodities

Iron ore futures fall in China and Singapore

Iron ore futures in China and Singapore fell on Monday on renewed doubts over whether massive worldwide stimulus measures will be enough to buttress a global economy hammered by the coronavirus pandemic.
Published 01 Apr, 2020 12:00am
Activities of Karachi Port and Port Qasim
Business & Economy

Activities of Karachi Port and Port Qasim

The Karachi Port handled 71,018 tonnes of cargo comprising 33,718 tonnes of import cargo and 37,300 tonnes of export cargo including 2,584 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday.
Published 01 Apr, 2020 12:00am