Oil extended its slide to the lowest level in almost 17 years as the coronavirus pandemic threatens to bring the global economy to a standstill, battering demand just as supply explodes.
Oil prices fell for a third session on Wednesday to be down about more than 17% so far this week as the outlook for fuel demand darkened amid travel and lockdowns triggered by the coronavirus epidemic.
WTI Crude oil was down $1.37 or 4.79%, at $25.96 a barrel. Whereas Brent crude was trading down 85 cents, or 2.92%, at $27.89 a barrel.
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The coronavirus crisis is weighing on prospects for demand as people refrain from flying or driving amid lockdowns and border closures.
A drop in U.S. inventories of crude, gasoline and distillates, as reported by an industry group, provided some support to prices, but the demand outlook remains grim amid a price war among major producers.
Moreover, Saudi Arabia and Russia are engaged..
Category: News
Oppo Launches a 4G Variant of the Reno 3 With Quad Cameras
Oppo released a 4G-only variant for last year’s Oppo Reno 3 Pro 5G a while ago and now they’re doing the same with the regular Reno 3 5G as well. The non-5G Reno 3 features a design identical to the 5G variant, but with a few differences in hardware specifications.
Design and Display The Oppo Reno 3 LTE has a 6.4-inch AMOLED display with a tall 20:9 aspect ratio and a waterdrop notch. The display includes an optical fingerprint sensor that is capable of incredibly fast unlocking speeds.
The back has a vertical quad-camera setup in the top left corner and a dual-LED flash unit next to it.
Internals and Storage The device is powered by the Mediatek Helio P90 SoC with 8GB RAM and 128GB storage space. Unlike the 5G variant, this one does not come with a 12GB RAM option. The storage, however, is expandable via a micro SD card.
For gamers, Oppo has included a Hyper Boost feature to stabilize in-game frame rates up to 38% and increase response time by 16%.
Camera The primary camera setup..
KSE-100 Records The Biggest Two-Day Decline in History
Pakistan Stock Exchange continued its bearish trend owing to the impact of the coronavirus outbreak as investors were swamped by extreme uncertainty.
During the last two consecutive sessions, KSE-100 has declined by 3,444 (-9.55%) points which is the highest two-day decline in the history of Pakistan, stated an AHL report.
At the end of the day, the KSE-100 index fell by 3.17% or -1,068 points to close at 32,617. The market rose by 209 points to 33,894 points during the opening minutes of trading but failed to maintain upward momentum as it touched an intraday low of 1,268 points.
Source: Capital Stake Samiullah Tariq, Head of Research at Arif Habib Ltd said that the market is down as a consequence of a decline in regional markets, lower commodity prices, expected slow down in the global economy and negative impact arising from the outbreak of COVID-19.
After today’s session, KSE-100 saw a 20% decline in the ongoing year.
The market remained Yo-Yo in light of new virus cases emerg..
Cricketers React to PCB’s Decision to Postpone PSL 2020
Following the decision to postpone the last three matches of the Pakistan Super League (PSL), the social media is saturated with opinions regarding the development.
Cricket fans, experts and cricketers are all sharing their views on the decision to call off the matches for an indefinite period. With almost all sporting events being canceled or postponed, it looks like the right thing to do.
Both former and active cricketers have also weighed in with their opinion. Let’s have a look at what they are saying:
Sad but wise.
Should Multan be crowned as champions? Afridi thinks so.
Safety comes first.
Rashid Latif likes the decision.
There’s more to life than cricket.
What are your thoughts on the decision? Let us know in the comments.
Here Are PSL 2020’s Statistics for All 30 Matches
Pakistan Super League (PSL) 2020 has been postponed due to the coronavirus outbreak in the country. The decision was taken earlier today following a meeting between the Pakistan Cricket Board (PCB) officials and PSL franchise owners.
PCB has said that it will reschedule the remaining matches once the country controls the pandemic that has resulted in over 200 reported cases in the country.
Now that the PSL has been postponed, let’s have a look at the stats from the league at the end of 30 matches:
Most Runs Babar Azam, the Pakistani run-machine, is leading the charts in terms of runs, followed by two Australians, Chris Lynn, and Ben Dunk.
PLAYER TEAM MAT INNS RUNS SR HS AVE Babar Azam KK 10 9 345 123.65 78 49.28 Chris Lynn LQ 8 8 284 179.74 113* 40.57 Ben Dunk LQ 7 7 266 186.01 99* 53.20 Luke Ronchi IU 8 8 266 156.47 85* 38.00 Shadab Khan IU 9 8 263 159.39 77 37.57 Most Wickets Teenagers Mohammad Hasnain and Shaheen Afridi are at the top of the wicket-takers’ list with 15 and 13 wi..
PIA Will be Forced to Shut Down if Flights Aren’t Resumed in a Couple of Months: Report
Pakistan International Airlines (PIA) is planning to shut down if flights for Saudi Arabia, China, Gulf, and Europe sectors are not resumed in a couple of months, reported a local media outlet.
The report quoted a source saying that the Finance Division has worked out three different scenarios to compute the net deficit of the national flag carrier after the complete suspension of flight operations to Saudi Arabia, China, Doha, Kuwait, and Milan due to coronavirus.
According to the report, PIA has incurred a revenue loss of over Rs 1.7 billion only on Saudi Arabia sector due to ban on the entry of Umrah pilgrims by the Saudi government for last 19 days and added that if this ban is not lifted, the loss will extend to around Rs. 3 billion till the end of March.
The report while quoting a source stated that if UAE, operating at 40 percent of normal schedule and rest of the international operating at 75 percent of the normal schedule, was also suspended along with Saudi Arabia, China, ..
Shahid Afridi & Ravi Bopara Pick PSL 2020 Winner After Postponement Decision
Pakistan Super League (PSL) 2020 was recently brought to an end due to the coronavirus outbreak in the country. With teams like Multan Sultans and Lahore Qalandars making it to the semi-finals for the first time ever, it truly is a sad ending to a very competitive tournament.
While Pakistan Cricket Board (PCB) has said that the revised schedule will be conveyed in due time, it is highly unlikely that the coronavirus situation will be controlled anytime soon. What it means is that we might not get to see which team wins the 5th edition of the tournament.
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Former Pakistan cricketer and star all-rounder, Shahid Afridi has picked his winner. Guess what, it’s his own team, Multan Sultans. The legendary cricketer believes that the table-toppers – and that too by a fair margin – should be awarded the trophy.
In another interesting tweet, England and Multan player, Ravi Bopara has also decided the winner. No prizes for gue..
Pakistan Cuts Interest Rates for the First Time in 4 Years
State Bank of Pakistan has cut its benchmark interest rate for the first time in four years.
The Central Bank of Pakistan has cut its target policy rate by 75 basis points to 12.50% from 13.25%.
Bloomberg noted that Pakistan’s consumer price inflation slowed to 12.4% in February from 14.6% in the previous month, with gains in price-growth expected to ease further on account of lower global oil prices.
The committee adopted cautious approach on policy rates that will maintain the inflation rate while it can stir up economic activities to some extent.
The report stated that Tuesday’s decision marks a shift in monetary policy direction for Pakistan’s central bank, which had raised its target policy rate nine times since January 2018 despite a wave of global easing last year.
The easing will help boost credit demand in the economy, whose growth the World Bank sees decelerating to 2.4% in the year to June — the slowest pace in more than a decade.
Central banks across Asia-Pacific have..
Ministry of Commerce Introduces E-Visa Facility for Businesses
The Ministry of Commerce, in collaboration with NADRA, has launched an e-Business Visa Invitation Letter System (E-BIL), another step towards easing business.
Chambers and Trade Associations can e-file applications for business visas on arrival for nationals of 190 countries. The applications will be processed in 48-78 hrs.
The Ministry of Commerce is now providing an E-Business visa facility, in collaboration with NADRA. All Chambers of Commerce and Industry of Pakistan and Trade Associations are connected to it for uploading visa invitation letters.
According to the Commerce Ministry, in the light of the Prime Minister’s vision, E-BIL is launched to facilitate all potential foreigners interested in exploring business opportunities in Pakistan.
Foreign nationals can apply for a business invitation letter (a required document for Pakistan’s business visa application) through E-BIL’s website.
Tecno Launches Ultra-Clear Challenge With 6 KOLs
Tecno is committed to push the boundaries of mobile photography with the launch of Camon 15. Tecno came up with an exciting Ultra clear Challenge, with the collaboration of six famous Key Opinion Leaders (KOLs).
The first part of the challenge, ‘Ultra-high clear’, involved KOLs Saboor Aly, Mariyam Nafees, and Ukhano tested the picture quality and resolution of a picture taken from the highest altitude.
While in “Ultra Dark challenge”, the KOLs Anum Hakeem, Guddu Shani, and Bilal Munir (VideoWaliSarkar) tested the resolution and quality of a shot taken in low light. All the celebrities were amazed by the result and further invited Tecno fans to become a part of the same challenge and get a chance to win Camon 15.
General Manager of the brand, Mr. Creek Ma shared his views about upcoming Camon 15,
Tecno feels immense pleasure on inheriting the rich spirit of the Camon Series, this latest addition would give our valuable customers high creative possibilities allowing them to discover ..
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