Investors are diversifying bets in the healthcare sector, as they rush to develop treatments for Covid-19 has driven up prices for some pharmaceutical stocks. A record 48% of fund managers are overweight healthcare stocks, a BofA survey showed and the S&P 500 healthcare sector is up nearly 34% since its March low. Hopes for treatment مزید پڑھیں

The World Bank has approved a $500mn loan programme for Pakistan to provide better opportunities for women, strengthen its social safety nets and improve access to quality healthcare and education as the country continues to bear the brunt of the coronavirus. The Securing Human Investments to Foster Transformation (SHIFT) programme will support policy reforms to مزید پڑھیں

Cancelled shipments, returned goods and a dearth of new orders have left China exporters in crisis as the coronavirus hits its trading partners worldwide — accelerating a long-standing push towards domestic consumption. The world’s second-largest economy is stirring back to life after virus cases dwindled from a peak in February, when activity came to a مزید پڑھیں

The federal government will unveil the budget for the next financial year 2020-21 on June 12. Prime Minister Imran Khan has granted approval for presenting the budget in the National Assembly on June 12. The sources said officers of the Ministry of Finance engaged in preparing the federal budget have been barred from leaving the مزید پڑھیں

The State Bank of Pakistan (SBP) has decided to provide more relief to the various companies for payment of wages and salaries to their workers and employees and to prevent layoffs as a result of the coronavirus lockdown. Banks have sanctioned more than Rs23 billion in concessional loans to various companies for payment of wages مزید پڑھیں

Adviser to Prime Minister on Finance and Revenues Abdul Dr Abdul Hafeez Shaikh Tuesday said that the government would not impose any new taxes in the upcoming budget for the fiscal year 2020-21 to facilitate the industry and help check contraction of economy. Talking to a private news channel, he said that no new taxes مزید پڑھیں

The exchange rate of Pakistani rupee declined by 37 paisa against US dollar in the interbank on Tuesday to close at Rs 160.74 against the last closing of Rs 160.37. However, according to the Forex Association of Pakistan, the buying and selling rates of US dollar in the open market were recorded at Rs 160.5 مزید پڑھیں

Gwadar airport Construction has entered its second phase, as the joint Pakistan and China project pushes towards completion, officials says. The airport is located in Gurandani,some 26 kilometers northeast of the city of Gwadar in Balochistan. Its total cost is $230 million. “In the second phase a permanent station is being built,” Zhang Baozhong, chairman مزید پڑھیں

Saudi Arabia’s sovereign wealth fund said in April that it was looking into “any opportunity” arising from the economic wreckage of the coronavirus crisis. The $320 billion Public Investment Fund, which until five years ago was a holding company for government stakes in domestic businesses, disclosed an $827.8 million stake in BP Plc, a $713.7 مزید پڑھیں

All Karachi Tajir Ittehad Chairman Atiq Mir on Sunday demanded of the Sindh government to allow businesses to stay open until midnight after Iftar from Monday. Atiq Mir said the government should allow markets to remain open after iftar till Chand Raat. Traders will open their shops under standard operating procedures (SOPs) after Iftar even مزید پڑھیں