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Govt is Allocating Unused Funds to Deal With Coronavirus: Hammad Azhar

The government has decided to reallocate non-utilized funds and seek fresh funds from multilateral agencies for coronavirus (Covid-19) prevention across the country, said federal minister for Economic Affairs Hammad Azhar. The federal minister took to Twitter on Friday and said, Economic Affairs Division is finalizing reallocations of non-utilized funds from some foreign projects & seeking fresh funds from multilateral agencies to deploy towards Corvid-19 prevention across the country. We aim to make these funds available to relevant departments by next week. He added that the finance division is working with the advisor on health for the provision of local funds. The provinces have also been asked to coordinate with their respective health departments for the provision of resources. The World Bank has committed $12 billion (£9.4 billion) aid for developing countries grappling with the coronavirus. The emergency package includes low-cost loans, grants, and technical assistance. The..
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Netflix Pauses Production on TV Shows & Movies

The coronavirus outbreak is causing problems for industries worldwide. The latest news comes from Netflix, which is now stopping production on all movies and TV shows including the highly anticipated Stranger Things. In compliance with the US and Canadian government’s restrictions against COVID-19, Netflix will be stopping production on numerous shows for two weeks. Some of the most noteworthy names that will be affected by this setback include The Witcher, Lucifer, Russian Doll, Stranger Things, and others. You’ll have to wait for a few more months for your favorite shows, however, Netflix says that it will stop production on a case by case basis for international shows and movies. Not all of them will be affected. Other streaming services including Apple TV and Disney+ have also been affected. Apple TV was forced to halt production for Stephen King’s Lisey’s Story, Jennifer Aniston’s The Morning Show and thriller series Servant. Disney had to shut down all work on The Falcon and th..
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Bill Gates Steps Down from Microsoft’s Board of Directors

Microsoft’s founder and chairman Bill Gates has stepped down from the company’s board of directors for the first time in 44 years. He explains that he is stepping away from the company to focus more on his charitable endeavors. He made the announcement via a Linkedin post where he says that he wants to: Dedicate more time to philanthropic priorities including global health and development, education, and my increasing engagement in tackling climate change. This will also include him stepping down from Warren Buffet’s holding company and Bill and Melinda Gates Foundation that he founded with his wife in 2000. He added that he is by no means abandoning Microsoft and will maintain a passive role in the company as a leading advisor. He said that Microsoft will always be a huge part of his life’s work and he will continue to engage with Satya Nadella (company CEO) in terms of technical leadership and achieving goals. Finally, he said that he will continue to maintain partnerships and f..
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foodpanda Partners With PSL for Special Discounts

Established in 2012, foodpanda has become synonymous with great seasonal deals and creative campaigns around the country. With the addition of ‘ghar ka khana’ feature on the app, people can now also enjoy tasteful homemade food easily, anytime and anywhere. To celebrate that and another cricket season Sabka Munh Chalega – foodpanda’s latest campaign is creating much chatter and rightfully so. #SabkaMunhChalega is a play on the ‘munh chalaana’ which means talking too much. The food delivery giant localized the term to ‘eating too much’. The term is the perfect description for the cricket season where consumers can avail up to 70% off on 2000+ eateries. Not just that, but now foodies can satisfy their hunger for a home-cooked meal with the latest addition to the app, ‘ghar ka khana’. Translated to food from home, this feature highlights home-cooked and smaller business ventures on the application by giving them a platform to sell directly to their consumer. Some of the Karachi deals in..
Samsung Unveils Entry Level Galaxy A11
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Samsung Unveils Entry Level Galaxy A11

Samsung has quietly unveiled the successor for one of its cheapest Smartphones for 2019, the Galaxy A10. The new Galaxy A11 now has a triple camera setup at the back, the Infinity O display at the front, and fast-charging unlike before. Design and Display The Galaxy A11 has a 6.4-inch HD+ IPS LCD with a punch-hole cutout in the top left corner for the selfie camera. The top and side bezels are relatively thinner but the bottom bezel is quite thick. At the back, there is a triple camera setup in a vertical layout beside an LED flash unit and a fingerprint sensor off to the center. Internals and Storage Samsung’s press release hasn’t revealed the phone’s chipset, but it includes a 1.8GHz octa-core processor with 3GB RAM and 32GB storage that is expandable via a microSD card. Cameras The camera setup includes a 13MP main lens, a 5MP ultrawide lens, and a 2MP depth sensor lens for portrait shots. These cameras are able to record 1080p videos at 30 FPS. The front camera is an 8MP shoot..
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Match 28: Bowlers, Sharjeel Take Karachi Kings Through to the Semi-Finals

Karachi Kings won the toss and elected to field first. 1st Innings Islamabad United, having lost 4 of their main overseas players including Colin Munro, Luke Ronchi, Colin Ingram, and Dale Steyn, were put in to bat first. The openers were cautious as they combined to add 35 for the first wicket. A number of players got the starts, however, none of them went big, thus posting a very small total of 136/6 in their 20 overs. All of Karachi’s bowlers contributed to restricting Islamabad United to a meager total. Hussain Talat top-scored with 37 from 30 as the away side hit just one six in the entire innings. 2nd Innings Chasing a target of 137, Sharjeel Khan and Babar Azam were brilliant right from the word go. The openers added 60 in just 4 overs before Sharjeel was given LBW off the bowling of Akif Javed. Babar followed soon after as Mohammad Musa cleaned him up. After that, Islamabad bowlers tied the screws. In the 7 overs after Sharjeel’s wicket, the batsmen could only add 26 run..
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SBP to Enforce Strict Monitoring of Interest Rates Offered by Banks

State Bank of Pakistan (SBP) has revised the systematic reporting pattern for commercial banks to monitor interest rates and deposits rates being offered to borrowers and depositors in various schemes and products. In this regard, the central bank issued guidelines for commercial banks along with a revised reporting system that will improve the accuracy of the data and the efficiency of the banking industry. All the interest rates for SBP concessional schemes like Export Finance Scheme and Long-Term Financing Facility and others like PM’s loan scheme for youth shall be aligned with the prescribed rates. The central bank instructed banks to verify if any local currency loan is priced below SBP Reverse Repo Rate. It further asked banks to verify foreign currency deposits on significantly high-interest rates of more than 4%. Ideally, overnight interbank placement and lending rates, among conventional banks, shall fall within the SBP Interest Rate Corridor (i.e. Policy Rate – 150 bps t..
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Islamic Banking Industry’s Assets Surge to Over Rs. 3 Trillion

Islamic Banking Industry (IBI) continues to flourish in the country as its assets reached Rs. 3 trillion by the end of 2019. According to the Islamic Banking Bulletin issued by State Bank of Pakistan (SBP), the assets of IBI grew by 9.6 percent or Rs. 289 billion in the last quarter to reach Rs. 3.284 trillion. Thus, the market share of the IB’s assets in the overall banking industry stands at a quite impressive level of 14.9 percent for 2019. Since the re-launch of the Islamic banking industry early in 2000 with merely one bank (Meezan Bank), the industry strived hard to penetrate the market with little awareness and acceptance among the general public and consumers of banking services. Gradually, the industry expanded with the addition of two more full-fledged banks—BankIslami and Dubai Islamic Bank in 2005 and then Al Baraka Bank Pakistan was established after a gap of five years in 2010 showing consistent development of the industry with increasing acceptance and demand in the M..
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Wedding Ban, School Closure, Border Seal, Other Tough Decisions Taken to Fight Coronavirus

It was revealed by the Special Assistant to the Prime Minister on Health Dr. Zafar Mirza late yesterday that the count of confirmed coronavirus cases has now reached 28 in the country. Dr. Firdous Ashiq Awan, PM’s aide on Information and Broadcasting, said, “There is a lot of speculation about the total number of cases in the country. However, I can confirm that Pakistan has 28 confirmed cases of coronavirus.” The high-powered Security Council meeting took place yesterday where significant decisions were taken for all provinces to curb coronavirus spread. Some of them included a ban on weddings and other social gatherings for 14 days, closure of western borders, calling off Pakistan Day parade, spectator-less PSL matches, international flight operations from Karachi, Islamabad, and Lahore airports only, and country-wide closure of academic institutions till April 5. Meanwhile, COVID-19 continues to shock and paralyze the world. 5,000 deaths and over 140,000 cases have been reported..
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Promotion of Exports is The Government’s Top Priority: PM

Prime Minister Imran Khan said that in view of the country’s economic improvement, the government’s foremost priority is the promotion of exports. He was presiding over a high-level briefing meeting on the Strategic Trade Policy Framework (STPF) 2020-25 and the Textile Policy 2020-25. The Prime Minister, while appreciating the efforts about the participation of the private sector in policy formulation on an institutional basis, said the government believes in achieving economic targets with the guidance and consultation of the private sector. The present government is also committed to the sustainability of policies, he added. He directed to resolve problems regarding the establishment of industries in the economic zones on a priority basis and in line with the government’s policy. Advisor on Commerce Abdul Razak Dawood briefed the Prime Minister about the basic features of STPF 2020-25, guidelines, exports’ estimates, strategy for achieving targets and priorities regarding 26 diff..