Category: News & Announcement

Goldman Sachs Group Inc. and Morgan Stanley economists joined the rush on Wall Street to declare that the coronavirus has triggered a global recession, with the debate now focusing on its likely length and depth. A day after President Donald Trump conceded the U.S. slump alone is set to be “a bad one,” economists threw away their forecasts that the world could avoid tumbling into recession for the first time since the financial crisis. Behind the rethink: The virus’s spread to Europe and the U.S., as well as new evidence that China —…

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India has closed its main tourist attraction, Taj Mahal, while the country’s prominent economic center has been instructed in works that do not provide basic services to keep half of its domestic workforce as part of anti-Corona virus measures in South Asia. Mumbai, with a large population of 18 million, has also been permitted by hospitals and airport authorities to stamp the wrist of people who have been forced to isolate themselves with indelible ink reading “quarantine at home” included in the date of expiry of the quarantine. The steps…

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Travel bans. Sporting events cancelled. Mass gatherings prohibited. Stock markets in freefall. Deserted shopping malls. Get ready for the Covid-19 global recession. Up until a month ago this seemed far-fetched. It was assumed that the coronavirus outbreak would be a localised problem for China and that any spillover effects to the rest of the world could be comfortably managed by a bit of policy easing by central banks. When it became clear that Covid-19 was not confined to China and that the economic effects would be more widespread, forecasts started to be revised down.…

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Fertiliser sector is a major consumer of natural gas and is a part of the larger problem of gas crisis. Lately, it has been in the news for having been fined by CCP for overcharging, profiteering and unethical and even illegal practices of price collusion. Suspecting a lot more, CCP has asked SECP to undertake a forensic audit of the companies involved. In any case, it is being widely believed that the fruits of low priced gas are not being transformed into fair prices for fertilisers. In this background, the…

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Chinese electronics firm Xiaomi went above and beyond to advertise its latest smartphone, sending the device’s 100-megapixel camera into space. The camera, which is based on the 108-megapixel Xiaomi M10 Pro quad camera, was integrated into a cubesat that launched in November 2019. Xiaomi used the quite brilliant orbital imagery for the Chinese launch of its new Mi 10 smartphones on Feb.13.  The Xiaomi images show Earth from an altitude of around 307 miles (495 kilometers), where the Chinese-made cubesat travels at close to 17,450 mph (28,080 km/h). Visible in one image is the…

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