VIF Neighborhood News Digest: April 29, 2020

PAKISTAN

Number of virus tests drops across country except in Sindh: DAWN

While 341 of the 751 new cases of novel coronavirus (Covid-19) were detected in Sindh in a single day, data of the Ministry of National Health Services showed on Tuesday that the number of tests had come down in all the provinces, except Sindh. The graph on the ministry’s website shows that for almost a week Sindh has conducted most tests, that is around 3,000 tests daily. In comparison, about 2,000 tests are being carried out daily in Punjab, even though the province’s population is almost 50 per cent of the country’s entire population. Click here to read.... [2]

Economy will need ‘reset and reboot’ after recession: DAWN

Pakistan is facing the worst economic conditions in its history — a negative economic growth at 1.57 per cent and a fiscal deficit of 9.6pc — during the current fiscal year owing to economic losses in the aftermath of coronavirus pandemic. “In a worst-case scenario, the growth rate could remain negative at 1.57pc of GDP”, said the Ministry of Finance on Tuesday after Adviser to PM on Finance and Revenue Dr Abdul Hafeez Shaikh met with representatives of multilateral lending agencies. The poverty situation was also likely to worsen in the country, the statement noted. Click here to read.... [3]

AFGHANISTAN

Taliban Should Expect Response If Attacks Continue: Gen. Miller: TOLO News

The US and NATO commander in Afghanistan, Gen. Scott Miller, on Tuesday reiterated that the Taliban should expect a response if they continue their attacks, referring to the increased Taliban-initiated fighting against the Afghan forces, especially in the last four weeks. The US general made the remarks in a visit to the headquarters of the Afghan special operations forces along with acting Defense Minister Assadullah Khalid. Click here to read.... [4]

Union: Will Afghan Fruit Vegetables Be Exported Amid COVID-19?: TOLO News

The harvest season, and export of fresh fruits and vegetables, is coming up but roadways to neighboring countries are closed, and air shipping has stopped, due to the coronavirus. The union of fresh fruit and vegetable traders in Afghanistan warns that the country’s farmers and gardeners will suffer severely this year. Although goods are being imported through various access points, exports are not allowed by land or air due to concerns over the spread of the coronavirus from Afghanistan. Click here to read.... [5]

BANGLADESH

Coronavirus: Govt fears 50,000 cases and 1,000 deaths by May: Dhaka Tribune

At a time when the people of Bangladesh are hoping that the ongoing lockdown will be lifted and the dangers of coronavirus pandemic will fade away, the government has expressed fears that the situation might even turn for the worst in the coming month of May. The Directorate General of Health Service (DGHS) has placed two predictions, terming the first to be conservative where some 48,000-50,000 people may be infected and 800-1,000 of them might die by May 31, 2020. Click here to read.... [6]

Daily wage earners risk severe socioeconomic impacts: Dhaka Tribune

At least 20% of the country's extreme poor households and higher number of people with unsustainable livelihood dependency may suffer severe socioeconomic and humanitarian crisis due to the coronavirus pandemic, says a report. Hosted by CARE Bangladesh, "Needs Assessment Working Group (NAWG)" made of representatives from government bodies, UN agencies and non-government organizations unveiled the report early this week. Click here to read.... [7]

MYANMAR

COVID-19 leaves over 60,000 workers jobless in Myanmar: Myanmar Times

Over 60,000 workers across the country have lost their jobs due to factory shutdowns caused by cancelled orders and the COVID-19 pandemic’s disruption of raw material supplies. U Myo Aung, permanent secretary of Labour, Immigration and Population, said on April 29 that 175 factories had stopped operations since the virus outbreak began in Wuhan, China, in December. “Over 60,000 people are unemployed,” he said. "Everything was settled in more than 70 factories, but in 105 factories, the workers have not been paid yet.” Click here to read.... [8]

Central Bank cuts interest rates again: Myanmar Times

The Central Bank of Myanmar (CBM) has slashed interest rates by another 1.5 percent, making it the third time it has done so since COVID-19 was declared a global pandemic. The decision to cut rates was announced under Directive No. (8/2020), issued on April 27 and effective May 1. The CBM first cut rates by 0.5 pc on March 12. A second 1pc cut was announced on March 24. The April 27 cut brings total rate cuts to 3pc within two months. Click here to read.... [9]

NEPAL

Nepalis stranded in India continue to brave Mahakali River to return home: The Kathmandu Post

Reports of Nepali citizens stranded in India crossing the Mahakali River to return home started surfacing when the nationwide lockdown to contain the spread of coronavirus was first announced on March 23. A Cabinet meeting on March 29 decided to allow all Nepalis stranded on the Nepal-India border to enter the country for one time on the condition that they remain in quarantine for 14 days. But that hasn’t stopped people from trying to cross the mighty river to return home. Click here to read.... [10]

With tourists staying home, homestays have no business: The Kathmandu Post

When the Visit Nepal 2020 tourism campaign was first announced, Dilli Maya Magar was excited. For the past nine years, Magar has been operating a homestay in Dhankuta’s Namje village, hosting both domestic and foreign tourists, and she was hopeful that the Visit Nepal 2020 would boost an already flourishing homestay industry in the community. Click here to read.... [11]

BHUTAN

World Bank commits USD5M to Bhutan for Covid-19 response: Kuensel

The World Bank (WB) has committed to provide USD 5 million (M) as support for Bhutan to help prevent, detect, and respond to the coronavirus pandemic and strengthen the country’s public health preparedness. Finance Minister Namgay Tshering and WB’s acting country representative Tenzin Lhaden signed the agreement yesterday in Thimphu. Click here to read.... [12]

Youth unemployment rate drops to 11.9%: Kuensel

Decrease in the youth population, youth preferring to continue higher education and youth staying out of the labour force are attributed as the “probable” reasons for the decrease in the youth unemployment rate. The Labour Force Survey Report (LFS) 2019, the National Statistics Bureau (NSB) released yesterday recorded the youth unemployment rate at 11.9 percent in 2019. This is a drop by 3.8 percent from 15.7 recorded in 2018. The rate was 12.3 percent in 2017. Click here to read.... [13]

SRI LANKA

Curfew can be gradually relaxed in coming weeks: President: Daily Mirror

President Gotabaya Rajapaksa has said that he was confident that the curfew could be gradually relaxed in coming weeks, the President's Media Division said. President Rajapksa said this at a meeting with the Maha Nayake of Kotte Sri Kalyani Samagri Dhrama Maha Sanga Sabha, Most Ven. Dr. Iththapana Dhammalankara Thera and His Eminence Malcolm Cardinal Ranjith at the Presidential Secretariat yesterday. Click here to read.... [14]

Sri Lankan Airlines dollar bonds downgraded to ‘B-‘after sovereign rating cut: Economy next

Government guaranteed bond of state-run Sri Lankan Airlines (SLA) have been downgraded to ‘B-‘ after Sri Lanka’s rating was cut by a notch from ‘B’ by Fitch Ratings. “The national carrier’s bonds are rated at the same level as SLA’s parent, the state of Sri Lanka, due to the unconditional and irrevocable guarantee provided by the state,” the rating agency said. Click here to read.... [15]

CHINA

China Mounts Aggressive Defense to Calls for Coronavirus Compensation: The New York Times

China is pushing back against the growing chorus of voices around the world calling for the country to pay compensation for the damage caused by the coronavirus pandemic, which originated in the Chinese city of Wuhan. Click here to read.... [16]

China signals coronavirus under control with resumption of parliament on May 22: South China Morning Post

Beijing announced the date for its long-delayed annual legislative session on Wednesday, after the first delay of China’s most important political event for decades, in a display of confidence that the new coronavirus outbreak is under control. Click here to read.... [17]

IPO reform launched on startup board: China Daily

China has launched market-based initial public offering reform on the innovation-focused startup board of the Shenzhen Stock Exchange, a major step to allow market forces play a greater role in new share sales and help channel more much-needed investment into the country's innovative firms. Click here to read.... [18]