Business
Govts, central banks must boost efforts: BIS
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…
Read MoreDubai free zones set marker on rent incentives
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…
Read MoreQatar Airways says it will need state support
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…
Read MoreHashoo Group stands by its associates in crucial times
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…
Read MoreZong 4G announces free calls
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…
Read MoreJS Bank fights COVID-19: Offers financing to hospitals to curb Corona Pandemic
F.P. Report KARACHI: Playing its role in facilitating the nation and its institutions to fight the Coronavirus pandemic, JS Bank, has introduced financing of up to Rs. 200 million to hospital and medical centers, for the purchase of equipment to detect, contain and treat patients infected by COVID-19. Under this State Bank designed scheme, all…
Read MoreSecond shipment of citrus imported from Pakistan arrives in China
F.P. Report BEIJING: The second shipment of citrus imported from Pakistan has arrived in Dalian, a major sub-provincial port city in Liaoning province of China. “A container of 40 feet containing around 27 tons of kinnow imported from Pakistan has arrived in Dalian,” Adnan Hafeez, Partner-You Lian Feng Food Trade (Dalian) Co. Ltd told APP…
Read MoreWall Street tumbles as US virus cases pass 100,000
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 –…
Read MoreFPCCI demands for 6 months relaxation of CNIC Condition
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…
Read MoreCoronavirus: Virgin Atlantic to seek bailout
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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