World Bank, IMF says suspending debt payments would provide 'a global sense of relief for developing countries'. Photo: File WASHINGTON: The World Bank and the International Monetary Fund on Wednesday urged official bilateral creditors to provide immediate debt relief to the world?s poorest countries as they grapple with severe consequences of the rapidly spreading coronavirus.
Photo: File ISLAMABAD: The Financial Action Task Force (FATF) has extended its deadline for complying conditions for Pakistan for three months up to September from earlier June 2020, reported The News on Wednesday. The move by the financial watchdog comes in the wake of the coronavirus pandemic which has wreaked havoc globally.
ISLAMABAD: Federal Minister for Power Division Omar Ayub Khan on Monday held talks with the independent power producers (IPPs) and discussed the issues pertaining to lowering power tariff of the electricity produced by them, ARY NEWS reported citing sources. According to details, the federal minister was briefed during the meeting that there overall 124 power plants producing electricity from wind energy remained operational in the country.
ISLAMABAD: After Prime Minister Imran Khan directed to immediately start the construction work of Diamer Bhasha Dam, the Water and Power Development Authority (Wapda) on Wednesday awarded the contract for civil and electro-mechanical works, ARY News reported. As per details, an agreement worth Rs442 Billion with a joint venture namely Power China-FWO was signed today for construction of diversion system, main dam, access bridge and 21 MW-Tangir Hydropower Project.
Reuters ISLAMABAD: The Pakistan Stock Exchange (PSX) on Thursday turned around and witnessed bullish trend as KSE-100 index closed at 31,837.30 points with the positive change of 866.03 points (2.8%) as compared to 30,971.27 points on the last working day . A total of 216,513,232 shares worth Rs8.547 billion exchanged
NEW YORK: US drugmaker Pfizer said on Thursday that early data has helped it identify a drug candidate with the potential to help treat patients infected with the novel coronavirus. It also finalized a plan to develop a coronavirus vaccine in partnership with German drugmaker BioNTech and said the companies hope to produce millions of vaccines by the end of 2020.
KARACHI: The dollar continued to fly high against the rupee in the inter-bank market on Friday and was being traded at a historical high of Rs169 as coronavirus shocks kept the foreign currency supply tight amid drying up inflows. The rupee lost a further 2.87 in intraday trading today after hitting a record low of Rs 166.13
Reuters SAN FRANCISCO: Terra Thomas, one of the millions of Americans who have lost their income due to the coronavirus pandemic, was stuck between a rock and a hard place ? pay her rent or put food on the table? "Looking at my finances, it was, 'do I give the last little bit of my money to my landlord ? who has a billion-dollar corporation ? or do I save this for necessities like food and health care?'" said Thomas, who lives in Oakland in the San Francisco Bay area.
PSX closes at 32,464.23 with the positive change of 41.40 points. ? AFP/Files ISLAMABAD: The Pakistan Stock Exchange (PSX) on Wednesday witnessed a bullish trend as KSE-100 index closed at 32,464.23 points with a positive change of 41.40 points (0.13%) as compared to 32,422.83 points on the last working day. A total of 239,873,143 shares worth Rs10.289
ISLAMABAD: Federal Minister for Communications Murad Saeed said on Sunday the revenue of the National Highway Authority (NHA) has increased by 73 percent during the tenure of the Pakistan Tehreek-e-Insaf (PTI) government. In a statement on Sunday, he said the authority has completed the first phase of the geographic information system survey.