Category: Recent Post

Singapore’s economy plunged into recession last quarter as an extended lockdown shuttered businesses and decimated retail spending, a sign of the pain the pandemic is wreaking across export-reliant Asian nations. Gross domestic product declined an annualized 41.2% from the previous three months, the Ministry of Trade and Industry said in a statement Tuesday, the biggest quarterly contraction on record and worse than the Bloomberg survey median of a 35.9% drop. Compared with a year earlier, GDP fell 12.6% in the second quarter, versus a survey median of -10.5%. The deep slump shows…

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Google CEO Sundar Pichai announced a $10 billion investment in India on Monday at the Google for India virtual live-stream event. The event focused on contributing to accelerate India’s digital economy with this investment over the next five to seven years. “Today, I’m excited to announce the Google for India Digitization Fund. Through this effort, we will invest ₹75,000 crores, or approximately $10 billion, into India over the next 5-7 years. We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments. This is a…

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The federal government has proposed to give more administrative, financial and punitive powers to the China-Pakistan Economic Corridor (CPEC) Authority A draft prepared by the government in this regard also lays out the role of the prime minister in the authority’s affairs. Planning Commission Deputy Chairman Dr Jehanzeb Khan on Monday held the first meeting of all government stakeholders to review the proposed CPEC Authority Bill 2020.

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Russia has become the first nation to complete clinical trials of Covid-19 vaccine on humans, and the results have proven the medication’s effectiveness, the media reported on Sunday. Chief researcher Elena Smolyarchuk, who heads the Center for Clinical Research on Medications at Sechenov University, told Russian news agency TASS on Sunday that the human trials for the vaccine have been completed at the university and they will be discharged soon. “The research has been completed and it proved that the vaccine is safe. The volunteers will be discharged on July…

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The lifting of the ban on construction and development works in Gwadar is welcome. This initiative of Gwadar Development Authority will promote construction activities in Gwadar which will not only speed up the work of construction industries but also support the small scale industries associated with it which will prove to be a source of economic growth. The current situation is that the real estate business has come to a standstill all over Pakistan but Gwadar is the only region where land is being traded and the sale and purchase of land…

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