HERAT, Afghanistan: Afghanistan has recovered 18 bodies of migrants who were allegedly beaten and tortured before being forced into a river by Iranian border guards last week, a senior Afghan official said Friday.Afghan authorities are investigating claims the migrants drowned while illegally...

HERAT, Afghanistan: Afghanistan has recovered 18 bodies of migrants who were allegedly beaten and tortured before being forced into a river by Iranian border guards last week, a senior Afghan official said on Friday.Afghan authorities are investigating claims the migrants drowned while illegally...

A second White House worker this week has tested positive for coronavirus, officials said Friday, even as President Donald Trump continued to go mask-free at a World War II commemoration with veterans in their 90s.

ISLAMABAD: Keeping in view the impact of COVID-19 pandemic, Pakistan’s GDP is going to contract by 1.6 percent in the ongoing fiscal 2019-20 and will grow to 2.9 percent in the next financial year 2020-21 and the loans from IMF and other multilateral and bilateral donors will help to ease...

ISLAMABAD: Keeping in view the impact of COVID-19 pandemic, Pakistan’s GDP is going to contract by 1.6 percent in the ongoing fiscal 2019-20 and will grow to 2.9 percent in the next financial year 2020-21 and the loans from IMF and other multilateral and bilateral donors will help to ease...

ISLAMABAD: Keeping in view the impact of COVID-19 pandemic, Pakistan’s GDP is going to contract by 1.6 percent in the ongoing fiscal 2019-20 and will grow to 2.9 percent in the next financial year 2020-21 and the loans from IMF and other multilateral and bilateral donors will help to ease...

The cost of disasters far outweighs the resources available for recovery. Microfinance could be one way to fill the funding gap.  

With key reforms, Pacific states could move toward cleaner, more affordable sources of energy that eventually eliminate fossil fuels completely.

There are three key strategies that can help Viet Nam achieve its ambitious development targets in the coming years.

By some estimates, the digital economy now accounts for trillions of dollars. But policymakers and companies still lack the data needed to fully understand it.

For many of Indonesia’s urban poor who work in the informal sector, social distancing is nearly impossible if they want to maintain their income. Two key policies can help.

With timely and well-targeted programs, policy makers can prevent the health crisis from deepening into a wider economic and financial crisis. This could sow the seeds of economic recovery.  

Bold action is required by policymakers and central bankers to keep the region’s economies afloat and contain the pandemic.

Governments in Asia and the Pacific must think about two things when restarting their economies: when to do it and how.

The Environment Ministry is fining Mercedes-Benz W77.6 billion for illegally tampering with emissions tests, the biggest fine ever for a carmaker here (US$1=W1,225). The ministry on Wednesday said Mercedes-Benz, Nissan and Porsche tampered with the emissions of around 40,000 diesel cars sold in Kore...

Environmental monitoring reports describe the environmental issues or mitigation measures of a project. This document dated May 2020 is provided for the ADB project 43319-022 in the Lao People's Democratic Republic.

Tribune News Service Faridabad, January 24 Despite an overall lull in the real estate sector, illegal construction and encroachment in certain parts of the district appear to be going on in “full swing”. These include the hilly terrain of the Aravallis. However, the authorities have removed certain encroachments from the Surajkund area in the past. “Several construction activities have been noticed in the area, including the Surajkund road. As the non-forest area comes under the jurisdiction of the Municipal Corporation Faridabad (MCF), it has removed certain encroachments in the past,” said a source in the civic body. Admitting that illegal construction poses a threat to the green cover of the […]

Speaker Nabih Berri said it was necessary and urgent to implement measures to halt Lebanon’s economic collapse, local newspaper Al-Joumhouria reported Saturday.

The governments of Punjab, Sindh, Khyber Pakhtunkhwa and Balochistan on Friday announced the partial easing of lockdown measures imposed to curb the spread of the coronavirus, even as the number of infections in the country registered a record daily increase.

On Thursday, Prime Minister Imran Khan had announced the lifting of the countrywide lockdown in phases from Saturday by reopening all construction-related industries and shopping centres for five days a week from Fajr (early morning) till 5pm and outpatient departments (OPDs) in hospitals.

The premier, who had announced the decision after a meeting of the National Coordination Committee (NCC) attended by the chief ministers of the four provinces, had acknowledged that the lockdown was being eased "at a time when our curve is going up" but maintained that "it is not edging up as we were expecting.”

The trend continued on Friday, with the country recording 1,807 cases of Covid-19 from the three provinces of Punjab, Sindh and KP alone, and the national tally nearing 27,000. It is the highest daily increase in the number of infections since Pakistan confirmed its first case on February 26.

Also read: Pakistan's Covid-19 death toll doubles in last 10 days

Khyber Pakhtunkhwa

A notification issued by the KP relief department said businesses associated with the construction industry will be exempt from closure subject to them following the standard operating procedures (SOPs) already issued for industrial units and sale points.

Businesses of steel and PVC pipes, electric appliances, manufacturers of steel and aluminium equipment, ceramic and paint industries, sanitary, paints, steel and aluminium works, and hardware stores will be allowed to open four days a week, not later than 4:00pm. They will remain closed on Fridays, Saturdays and Sundays.

All factories which are not included in the negative lists of factories will also be allowed to resume operations.

According to the notification, all shops will be allowed to remain open for four days a week and not later than 4:00pm, subject to their implementation of the government's SOPs.

Meanwhile, Adviser to the Khyber Pakhtunkhwa chief minister on information, Ajmal Wazir, told a press conference in Peshawar that educational institutions in the province will reopen as per the federal government's instructions and the province will not take an independent decision in this regard.

He added that discussions were being held on inter-district and intra-district transport with transporters and the decision will be shared with the public whenever it is taken.

Punjab

Punjab Information Minister Fayyazul Hassan Chohan said that the provincial government will submit a recommendation to the Centre for not lifting the lockdown in the province's major cities.

Speaking to reporters in Lahore, he said: "We have seen that there is a hype about coronavirus in some big cities. Therefore, we are submitting this recommendation to the federal government and if it is approved, then the lockdown and standard operating procedures will remain in big cities like Lahore, Rawalpindi, Multan and Gujranwala."

Examine: The lockdown dilemma

He added that higher secondary board examinations in Punjab will be cancelled and students will be promoted based on last year's grades. Schools will reopen on July 15.

As per the federal government's decision, OPDs in the province will open from May 9, Chohan said.

He added that the SOPs for congregational and Taraweeh prayers in mosques as announced by President Arif Alvi will remain in place.

The first session of the Punjab Assembly since the pandemic began was also to be held today.

Sindh

Sindh Chief Minister Murad Ali Shah told a press conference in Karachi that under "phase two" of the easing of the restrictions, businesses linked to construction industries will be allowed to open while observing the preventive guidelines. Selective OPDs will also be allowed to resume services.

Industries will no longer be required to submit an application to resume operations; however, they will have to submit an undertaking and forward the details of their employees to the government.

Shops will be allowed to open after sehri (dawn) and will be required to close at 5pm. They will remain closed on Saturdays and Sundays which will be "safe days with 100 per cent lockdown", the chief minister said.

The businesses permitted to resume from Monday include shops in rural areas and neighbourhood shops situated in residential localities, excluding large market places.

Shah said marriage halls, shopping malls, hotels and restaurants in the province will remain closed and there will be no congregations or sports events either.

"These guidelines will remain applicable until May 31. This is what the federal government has outlined and we are ready to comply with these directives," he said.

The chief minister appealed to citizens to stay at home as much as possible. "If you are allowed to leave your homes, according to the directives issued by the government, then make sure to follow standard operating procedures. Wear a mask," he said.

Referring to the increase in Covid-19 infections, he added: "I am seeing the rise in cases, but for national integrity and uniform policy we are going along."

In a statement released by the CM House later in the day, Shah denied media reports stating that the lockdown will end on Monday, saying: "We are entering the second phase of the lockdown with some extra restrictions, particularly at hotspots."

He maintained that air, train and public transport will continue to remain suspended.

Balochistan

In Balochistan, a meeting chaired by Chief Minister Jam Kamal Khan approved the move to turn the lockdown imposed in the province into a 'smart lockdown', under which restrictions are enforced in virus hotspots only, according to Balochistan government spokesperson Liaquat Shahwani.

He announced that markets will be allowed to open from 3am till 5 in the evening.

Shopkeepers and traders will be bound to implement SOPs for precautionary measures while legal action will be taken against the violators, Shahwani said in a tweet.

KARACHI: The State Bank of Pakistan (SBP) on Friday allowed subsidised financing for setting up of new plants and expansion of existing units while the maximum amount for a single unit has been set at Rs5 billion to boost economic activities in the manufacturing sector.

The SBP on Friday said it has opened up its subsidised Temporary Economic Relief Facility (TERF) for Balancing, Modernization and Replacement (BMR) and expansion of existing projects.

Under this scheme, the SBP provides refinance to banks for their onward extension of financing at maximum end-user rate of seven per cent for 10 years.

“The maximum financing for a single project under the scheme is Rs5bn. The objective of this facility is to boost economic activity through investments in manufacturing units,” said the SBP.

While allowing the BMR and expansion of existing projects, the SBP has permitted financing for purchase of new-imported and locally-manufactured plant and machinery against foreign letter of credit (LC) and inland LC.

“The funding under the facility cannot be used for procurement of second-hand machinery, land or carrying out civil works,” said the SBP.

According to the circular issued by the central bank, in addition to new projects, existing projects and businesses are being allowed to avail financing under these facilities for BMR and expansion of their projects or businesses.

“This measure has been taken to provide further stimulus to the economy in the context of Covid-19’s impact on the economy, to support investment in the country for modernising or expanding manufacturing and production units, and in response from feedback from stakeholders,” said the SBP.

The central bank said that, it has taken several measures since the outbreak of Covid-19 to safeguard economic activity in the country. On Mar 17, the SBP introduced TERF and its shariah-compliant version to stimulate new investment in the manufacturing sector.

With expansion in scope of the facility, the SBP expects that existing businesses will avail subsidised funding to improve productivity leading to higher economic activity and employment generation.

The banks and development finance institutions will be required to make disbursements to their customers on the basis of certificates of their internal audit confirming that financing is within the terms and conditions laid down in the facilities.

Borrowers will be required to submit a report from the Pakistan Banks Association-approved surveyors with regard to confirmation that the newly-purchased plant and machinery has been installed as per their initial request or proposal for BMR and expansion. In case of installation and fixation in part, this report will be required at first and final installation of the plant and equipment.

Published in Dawn, May 9th, 2020

ISLAMABAD: The country witnessed a record rise in Covid-19 cases on Friday, a day before lifting of the nationwide lockdown in phases announced by Prime Minister Imran Khan.

Although the decision to lift the lockdown from Saturday was taken in consultation with all the provinces, Punjab and Sindh on Friday expressed their desire to extend the lockdown restrictions for some more time.

With the addition of 2,000 new cases during the last 24 hours, the total number of infections in the country on Friday stood at 26,954.

Prime Minister Khan, after chairing a meeting of the National Coordination Committee (NCC) on Thursday, announced the lifting of the lockdown by opening several industries, businesses and markets from Saturday (today).

Punjab, Sindh express wish to extend lockdown restrictions; Umar dismisses Murad’s claim about unilateral decisions by Centre; PM reviews economic situation

On Friday, Sindh Chief Minister Syed Murad Ali Shah and Punjab Information Minister Fayyazul Hassan Chohan said they wanted to extend the lockdown but agreed to the Centre’s call at the NCC meeting that the restrictions should be lifted from Saturday.

“It was our desire that the lockdown should be extended, but we agreed to whatever decided at the NCC meeting on Thursday,” CM Shah said at a press briefing.

The PTI-led Punjab government took a step forward and recommended that major cities of the province should remain under lockdown as there was an increasing trend of the viral disease there. “We want continuation of lockdown in eight to 10 cities, including Lahore, Rawalpindi, Multan and Gujranwala,” Mr Chohan said at a press conference.

In a related development, the federal government expressed its surprise and dismay over Sindh chief minister’s remarks that Islamabad was imposing its decision regarding ending the lockdown. Federal Minister for Planning and Development Asad Umar, who also heads the National Command and Operation Centre, in a television programme categorically on Friday evening, said that all decisions were made with the approval of the provincial governments. He even said that some of the federal government’s proposals on which there were objections, or difference of opinion, were not included as the government wanted to have complete consensus on the matter.

Prime Minister Khan has urged people to follow the standard operating procedures (SOPs) evolved by the government when the lockdown is lifted, otherwise there will be trajectory of Covid-19 and then the government will have no option but to enforce another lockdown.

The prime minister presided over a meeting on Friday to review the economic situation and its future outlook in the wake of the Covid-19 pandemic. The finance ministry briefed the meeting on the overall situation and the performance of various macroeconomic indicators during the last nine months of the current financial year, as well as the impact of coronavirus on the economy, an official press release said.

The meeting reviewed the progress and impact of the Rs1.25 trillion economic stimulus package announced by the government to provide relief to the poor and vulnerable segments of society and support various sectors of the economy affected by the pandemic.

The prime minister appreciated the efforts made by the finance ministry to ensure financial discipline and provision of relief during the Coved-19 situation. He emphasised that greater attention should be paid to supporting small and medium enterprises and the agriculture sector, enabling them to create greater job opportunities for people. “The process of reforming public sector organisations should be expedited to plug leakages of the economy,” he added.

The prime minister said the process of provision of subsidies should also be reviewed to make these interventions more effective and target-oriented. “Out of the box solutions are needed to meet the present day economic challenges,” he emphasised.

Reviewing the future economic outlook, Mr Khan said all-out efforts should be made to provide maximum possible relief to the people. He emphasised that priorities and targets for the next Public Sector Development Programme (PSDP) should be clearly defined with a focus on completion of projects rather than mere initiation. He stressed the need for maximum utilisation of the public-private partnership model and involving international development partners to enhance and broaden the PSDP scope.

Meanwhile, Special Assistant to the PM on Health Dr Zafar Mirza said the government had signed a memorandum of understanding with the International Organisation of Migration, which helps connect countries with expatriates.

At a press conference, he said the government wanted to develop a networking system with overseas Pakistani doctors in order to learn from their experiences and expertise even after the coronavirus crisis is over.

Published in Dawn, May 9th, 2020

ADB President Masatsugu Asakawa and Pakistan’s Federal Minister for Economic Affairs and ADB Governor Makhdoom Khusro Bukhtiar today discussed how ADB can scale up its support for the government’s response to the COVID-19...

ADB has approved $50 million in loan and grant financing to help the Government of the Kyrgyz Republic mitigate the significant negative health, social, and economic impacts of the novel coronavirus disease (COVID-19) pandemic.

After a lacklustre first half, home sales across the top six cities in the country are expected to rise 26 per cent in the second half of 2014 compared to a year ago, according to a research report by property advisory firm Knight Frank. A negative sentiment among home buyers due to the slow economy, high interest rates, inflation and also political uncertainty had tempered home sales in the first half of the year. While new launches in the period dropped 32 per cent, sales volume was down 27 per cent. But now, with a positive election result, a stable government at the centre and sops for the housing sector […]

Afghanistan has recovered 18 bodies of migrants who were allegedly beaten and tortured before being forced into a river by Iranian border guards last week, a senior Afghan official said Friday.

The project’s key objective was to demonstrate an innovative integrated ecosystem and water resources management that will improve the environmental conditions in the Baiyangdian Basin in Hebei province, southwest of Beijing. It focused on the need to conserve Baiyangdian Lake—one of the most important and vulnerable ecosystems in the People’s Republic of China (PRC). It would also contribute to achieving the goals of the Baoding municipality’s Eleventh Five-Year Environmental Protection Plan.

Regional economic growth in developing Asia will decline sharply to 2.2% in 2020 due to the effects of the COVID-19 pandemic, before recovering in 2021, according to the Asian Development Outlook 2020.

ADBI Dean Tetsushi Sonobe discussed imperatives for enabling COVID-19 pandemic recovery in developing countries in Asia and the Pacific and new ADBI research to boost related policy efforts in a video message.

The 2020/ 21 edition of IP Stars, the leading specialist guide to IP firms and practitioners worldwide developed by Managing IP, has recognized 33 of Dentons’ global Intellectual Property practitioners for their outstanding experience in contentious and non-contentious IP advice in the areas of trade mark and patent work. 

Dentons Hong Kong has been recognised for its work at the IFLR Asia-Pacific Awards 2020 and Asian-mena Counsel: Deals of the Year 2019. These recognitions have highlighted the capabilities of the Firm in a wide range of practice areas.

MOST150 Technology to Control the Infotainment System on Volvo Cars’ Second-Generation XC60 SUV

Northern Arizona University Recognizes Microchip CEO With Honorary Doctorate Degree

ADB’s Transport Sector Flood Recovery Project helped reinstate bridge approach roads, culverts, and stream crossings and rebuilt three elevated bridges, reestablishing a seamless east–west road link on Guadalcanal and within Honiara. All works incorporated climate- and disaster-proof design.

Approved project 43407-017 in Philippines.

Export performance and firm size have a positive impact on trade participation at the intensive margin for firms of all sizes.

The news-based economic policy uncertainty index, which is widely used in developed countries, has not properly captured the state of economic uncertainty in India.

A well-designed evaluation system can be effective in motivating bureaucrats to shift their efforts toward a more environmentally friendly growth path.

Asian regional integration is progressing under more complex and diversified considerations than European integration.

Privatization has different effects depending on the types of owners to whom it gives control in corporate governance.

Financial sector development can play a crucial role in driving economic growth.

Some groups in the economy may need the government-assistance policy on security to lower the economic uncertainty they face.

Trade facilitation, by reducing trade costs and raising the efficiency of moving goods across borders, is integral to international trade.

The Caspian region still has some alternatives that can develop it into a cohesive area.

The global financial architecture should focus on providing short-term lending facilities to improve the efficiency of developing projects.

Gradual integration and expansion would help intensify Asian economic integration through capacity-building and technological development from more advanced economic blocs.

Export performance and firm size have a positive impact on trade participation at the intensive margin for firms of all sizes.