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Pakistan

NCOC lift one-day lockdown, markets to function 24/7

Islamabad: The National Command and Operation Centre (NCOC) has lifted one-day lockdown across the country, allowing businesses to operate 24/7.

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NCOC lift one-day lockdown, markets to function 24/7
GNN Media: Representational Photo

Up to 300 guests have been allowed to participate in the indoor wedding ceremonies, while the number of guests for outdoor wedding ceremonies have been incraesed from 400 to 500. 

Only fully vaccinated people have been allowed to visit cinemas and shrines.

The decisions have been taken in the meeting of NCOC chaired by Federal Minister for Planning, Development and Initiatives Asad Umar. The forum reviews the ratio of vaccination in proportion to the coronavirus cases. 

The relaxation in SOPs will continue from October 16 to 31, but teh forum would review SOPs in its next meeting on October 28.

 

 

Faisal Ali Ghumman

Mr. Ghumman is a seasoned journalist who has 19 years of diversified experience in print, electronic and digital media. He has worked with 92 News HD, Daily Pakistan Today, Daily The Business, Daily Dawn, Daily Times and Pakistan Observer as News Reporter, Feature Writer, Editor, Web Content Editor and Article Writer. Mr Ghumman has graduated from the Bahauddin Zakariya University Multan and is currently enrolled in M.Phil in Mass Communication at the University of Punjab.

Business

Increase in US rates could ‘throw cold water’ on global economic recovery: IMF chief

"Higher US interest rates could make it more expensive for countries to service their dollar-denominated debt"

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Increase in US rates could ‘throw cold water’ on global economic recovery: IMF chief

Kristalina Georgieva, managing director of the International Monetary Fund, has said that interest rate hikes by the Federal Reserve could “throw cold water” on already weak economic recoveries in certain countries.

Georgieva, speaking via videoconference at The Davos Agenda virtual event on Friday, said an increase in US rates could have significant implications for countries with higher levels of dollar-denominated debt.

She said it was therefore “hugely important” that the Fed was clearly communicating its policy plans to prevent surprises. Higher US interest rates could make it more expensive for countries to service their dollar-denominated debt.

On a panel moderated by CNBC’s Geoff Cutmore, Georgieva said the IMF’s message to countries with high levels of dollar-denominated debt was: “Act now. If you can extend maturities, please do it. If you have currency mismatches, now is the moment to address them.”

She added that her biggest concern is for low income countries with high levels of this debt, highlighting that two-thirds were now either in “debt distress” or in danger of falling into it — that’s twice as many as in 2015.
‘Losing some momentum’

The IMF expects the global economic recovery to continue, Georgieva said, but stressed that it was “losing some momentum.”

As such, she suggested that a New Year’s resolution for policymakers should be “policy flexibility.”

“2022 is like navigating an obstacle course,” she said, given risks such as rising inflation, the Covid-19 pandemic and high debt levels. The IMF warned in December that global debt hit $226 trillion in 2020 — the largest one-year rise since World War II.

With regards to inflation, Georgieva stressed that the problem is country specific. Prices are rising at startling speeds in a number of countries: euro zone inflation hit a record high of 5% in December, the U.K. inflation rate hit a 30-year high in the same month and the U.S. consumer price index rose at its fastest pace since June 1982.

“That country specificity is what makes 2022, in a way, even more difficult than 2020,” Georgieva said.

“In 2020, we had similar policies everywhere because we were fighting the same problem — an economy in standstill. In 2022, conditions in countries are very different, so we cannot anymore have the same policy everywhere, it has to be country specific and that makes our job in 2022 so much more complicated.”

SOURCE: CNBC

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Regional

Two children dead, 7 family members injured as landslide hits Shangla house

The landslide also blocked the main Bisham-Swat road

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Two children dead, 7 family members injured as landslide hits Shangla house

Shangla: At least two children died while their seven family members were injured after they were buried in a landslide that struck their house in Khyber Pakhtunkhwa's Shangla district on Friday, rescuers and police said.

Rescuers said the two deceased children aged three and two months were among six people who were pulled out of the rubble, while efforts were continuing to trace the remaining three family members.

A massive landslide hit the Khurshid Khan house in Kuz Alpuri area of Shangla, destroying it completely and burying its residents. The landslide also blocked the main Bisham-Swat road.

Rehman said Rescue 1122 workers were making efforts to recover the rest of the people trapped underneath the debris.

Two children and four women were brought to the District Headquarters Hospital, Alpuri, where the two minors died and the women were being treated for their injuries.

Bisham-Swat road was also blocked due to the landslide and motorists were stuck on both sides.

The injured were shifted to the DHQ hospital.

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Entertainment

Next two 'Mission: Impossible' movies starring Tom Cruise delayed until 2023, 2024

The new dates for the films are July 14, 2023, for the seventh installment, and June 28, 2024, for the eighth movie in the series

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Next two 'Mission: Impossible' movies starring Tom Cruise delayed until 2023, 2024

The seventh and eighth movies in the "Mission: Impossible" franchise starring Tom Cruise have been delayed until 2023 and 2024 because of the COVID-19 pandemic, producers Paramount Pictures and Skydance said in a statement on Friday.

"Mission: Impossible 7" had been scheduled to debut in movie theaters in September 2022, followed by "Mission: Impossible 8" in July 2023.

The new dates for the films are July 14, 2023, for the seventh installment, and June 28, 2024, for the eighth movie in the series.

"After thoughtful consideration, Paramount Pictures and Skydance have decided to postpone the release dates for Mission: Impossible 7 & 8 in response to delays due to the ongoing pandemic," the companies said in a statement.

Theater chains, including AMC Entertainment and Cinemark Holdings Inc, are still trying to recover from extended closures during the pandemic.

SOURCE: REUTERS

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