The State Bank of Pakistan has stated that it is ready to take action to support financial markets in the face of the the coronavirus pandemic, reported Bloomberg.
The pandemic has led to a sell-off in the country’s bonds and has also triggered Pakistan’s net sales of $772 million in short-term rupee debt in March after eight successive months of purchases that totaled $3.1 billion.
According to the report, State Bank of Pakistan Governor Reza Baqir said in an email
The current market volatility in Pakistan is externally driven and the strengthening in the fundamentals of Pakistan’s economy that drove the improvement in Pakistan markets before the outbreak of coronavirus remains intact,” The central bank “is monitoring the situation closely and remains ready to take any actions needed to address disorderly market conditions.
The State Bank got involved on Friday, and helped the rupee to advance 0.1% after a four-day decline, according to people familiar with the matter. Global cent..
Category: News
Careem’s Leadership & Colleagues Become ‘Captain for the Day’, Hit the Road to Connect with Customers & Captains
To connect and better understand the challenges of the customers and Captains, Careem’s Country General Manager along with his leadership team and colleagues took the wheels to drive around major cities across the country as Careem Captains.
The teams were excited to participate in the activity where they drove around the city and picked up rides like any other regular Captain. This gave them an opportunity to interact directly with the customers and take their feedback on the service. They also took pictures to share the experience on social media.
While Careem is focused on a mission to make the daily commute affordable and convenient for its customers, it is also trying to make life easier for its Captains. The activity not only gave the colleagues an opportunity to connect with the customers, it also provided them a first-hand experience of what it’s like to drive around the city to earn an income.
Zeeshan Hasib Baig, Country General Manager, Careem Pakistan, was delighted with ..
Match 30: Defending Champions Quetta Knocked Out of PSL 2020
Karachi Kings won the toss and elected to bat first as Quetta faced an impossible equation to qualify for the semi-finals.
Batting first, Karachi posted a meager total of 150/5 as only Cameron Delport got a fifty. His innings of 62 included 5 fours and 2 sixes. Naseem Shah was amazing with the ball, taking two wickets for just 17 runs in his 4 overs.
Quetta was out of the race almost right after losing the toss. The fifties from Shane Watson and Khurram Manzoor got them the win, but, they were knocked out of the tournament.
Pre-Match It’s another must-win match for Quetta Gladiators, however, a win will not guarantee them a place in the semi-finals.
If Quetta can win big, they might well have a chance, however, it is highly unlikely considering the almost-impossible net run rate situation.
Match Details Date Sunday, 15th March 2020 Time 07:00 pm PST Venue National Stadium Karachi Head-to-Head The two teams have played 8 times with Quetta Gladiators winning 6 and Karachi Kings emer..
Match 29: Lynn Special Takes Qalandars to Semi-Finals for the First Time
Lahore Qalandars won the toss and elected to field first.
1st Innings
After a poor start, Multan Sultans batsmen, Shan Masood and Ravi Bopara steadied the ship, adding 75 for the 3rd wicket. Shan made 42 while Bopara got out after scoring 33.
Late blitz from Khushdil Shah, who made an unbeaten 70 from 29 including 6 sixes, and a cameo from Rohail Nazir powered Sultans to a respectable total of 186/6.
David Wiese and Shaheen Afridi took two wickets each.
2nd Innings
A brilliant opening partnership between Fakhar Zaman and Chris Lynn made sure Lahore Qalandars was always ahead in the chase. Fakhar fell after scoring 57 from 35 balls.
It was Chir Lynn who played a masterclass of an innings to take his team to the semi-finals for the first time ever in PSL history. He remained unbeaten at 113 from 55 balls including 8 sixes.
In the end, it was a comfortable victory for the home side.
Pre-Match It’s the last day of league matches with a double-header in Lahore and Karachi. Today’s ..
Submarine Cable Might be to Blame for Internet Slowdown: ISPs
If you are experiencing slow internet or disconnections, you are not alone. Internet service providers are reporting a technical fault and disruptions in their network, causing problems for customers around Pakistan.
According to an official presser from Stormfiber:
Both of our upstream providers have reported degradation on certain western destinations on their network. While it is too early to conclude the exact root cause of the issue, we suspect an outage on an international cable segment(s) or route(s) further upstream.
Similarly, Transworld has also issued a statement warning about a similar problem:
Based on customer reports, Nayatel was also experiencing a general slowdown but seems to be back to normal for the time being. The company did not issue any statements.
We will keep you posted on any further developments.
Projects Worth Rs. 1.5 Billion to be Initiated in Islamabad This Year: Asad Umar
Federal Minister for Planning Development and Special Initiatives Asad Umar has said that the early completion of initiated projects in Islamabad is the top priority, and PTI is committed to fulfilling its promises with the residents of Islamabad.
He was addressing the foundation laying ceremony of Islamabad Model College for Girls, G-13 Islamabad. While highlighting the development work initiated for Islamabad, Asad Umar said a project to supply 100 MGD water from Ghazi Barotha to Islamabad is also in the pipeline and the government would ensure equitable distribution of water to all sectors of Islamabad.
Under his administration, 4 new colleges would be established in Islamabad. While lampooning his political opponents, Asad Umar said that it is possible to spend money on public works without corruption and that his government is committed to transparent and early resolution of public issues including the provision of water, gas and electricity connections.
He remarked that the pa..
Leak Reveals Huawei P40 Series’ Prices
The budget Smartphones in Huawei’s P40 series have already been announced in different countries around the globe. Now, the remaining devices in the lineup namely the base P40, P40 Pro, and the P40 Pro PE (Premium Edition), are due for launch in roughly two weeks.
We’ve already seen what these phones are going to look like via renders and leaks with specifications in tow. The latest reveal, however, has now uncovered the pricing for the three flagship models as well.
The leak comes from a notable tipster Teme. According to him, the base P40 will cost between $900-$1000, the P40 Pro will be priced between $1100-$1200, and the top-end P40 Pro PE will cost $1300-$1400.
He also adds that the price may vary by $50 to $110 in different regions.
The Huawei P40 Pro will be powered by the Snapdragon 865 SoC with UFS 3.1 storage and LPDDR5 RAM. It will have a 6.5-inch QHD+ OLED display with a 120hz screen refresh rate. It may be packed with a massive 5,500 mAh battery with 55W super-fast cha..
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..
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..
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..
Load More