Monitoring Desk LONDON: Governments and central banks need to step up efforts urgently to support their economies in the face of the coronavirus crisis, the head of the Bank for International Settlements said on Sunday. General Manager Agustín Carstens, who heads the BIS – an umbrella group for the world’s central banks – wrote an…

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Monitoring Desk DUBAI: With free zones in Dubai offering up to six months’ rent postponements, private landlords are now under pressure to match these incentives or even better them. At the very least, private landlords would be “forced” to consider rent payments via installments – something the free zones will now allow as per Saturday’s…

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Monitoring Desk DUBAI: Qatar Airways will have to seek government support eventually, Chief Executive Akbar al-Baker told Reuters on Sunday, warning that the Middle East carrier could soon run out of the cash needed to continue flying. Several states have stepped in to help airlines hammered by the coronavirus pandemic that has virtually halted international…

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F.P. Report ISLAMABAD: Hashoo Group in these troubled times is ensuring practicality of having a disaster preparedness and business continuity plan by ensuring safety and mitigating risks to employees as much as possible. Covid-19 repercussions have struck down industries all around the world. Hospitality industry has received the worst blow due to the economic despondency…

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F.P. Report KARACHI: With customers as its Number 1 priority, Zong 4G has stepped forward with an unprecedented gesture for its customers across the country. The customer-centric company is now providing daily free Zong minutes to its entire customer base. The endowment has been introduced with the intent of connecting people as they stay at…

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NEW YORK (Reuters): Wall Street stocks tumbled , ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed. U.S. stocks deepened their losses late in the session, even after the House of Representatives approved a $2.2 trillion aid package –…

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F.P. Report KARACHI: Saquib Fayyaz Magoon, Convener of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) standing committee on Sales Tax and Chairman Indenters Association of Pakistan (IAOP), has requested the Federal government to defer Computerized National Identity Card (CNIC) condition for 6 months on sale of goods to unregistered persons in view of…

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NEW YORK (BBC): Virgin Atlantic is expected to ask for a government bailout worth hundreds of millions of pounds in the coming days, the BBC understands. Requests for state aid are also expected from other airlines. The government has said it will only step in to help struggling airlines “as a last resort” on a…

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