China surpasses US to become world's largest economy

December 5, 2014

Beijing, Dec 5: The US is no longer the world's largest economy, as China has overtaken the country, the International Monetary Fund (IMF) says.china over us

China now sits atop the world's economic perch, according to the IMF, which released the latest numbers for world economies by measuring purchasing power parity (PPP).

By the end of 2014, China's economic output will amount to $17.6 trillion, and the US will be demoted to the second place with a mere $17.4 trillion of output.

The Financial Times also said China's growth means it now accounts for 16.5% of the global economy in real purchasing power terms, compared to the 16.3% for the US.

The US was the world's largest economy since 1872, when it overtook Britain.

The IMF projected in early October that China's economy will be 20 percent bigger than that of the US by 2019.

China remains the biggest foreign holder of US government debt, holding an estimated $1.27 trillion in US Treasury bonds.

Earlier this year, China and Russia agreed to a measure to undercut the domination of the US dollar as the international reserve currency by paying each other in domestic currencies.

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July 10,2020

Lahore, Jul 10: The Punjab government enforced smart lockdown in seven cities of the province for 15 days with an immediate effect from Thursday night, The News International reported.

The Primary and Secondary Healthcare Department on Thursday issued a notification under the Punjab Infectious Diseases Ordinance 2020, about enforcement of lockdown in Lahore, Multan, Faisalabad, Gujranwala, Sialkot, Gujrat and Rawalpindi, till July 24 midnight.

In Lahore, the lockdown will be enforced in A2 Block Township, EME Society, Main Bazaar Chungi Amr Sadhu, Punjab Government Servants Housing Scheme, Wapda Town, C-Block Jauhar Town and Green City.

The basic necessities of life will remain available in smart lockdown areas. "The purpose of the smart lockdown is to minimise movement of people in hotspots of positive coronavirus cases," said Capt (retd) Muhammad Usman, Secretary, Primary and Secondary Healthcare Department.

The country registered 2,751 new COVID-19 cases during the last 24 hours, taking the tally to 243,599 on Friday. The province-wise breakup includes 85,261 cases in Punjab, 100,900 cases in Sindh, 29,406 in Khyber Pakhtunkhwa, 11,099 in Balochistan, 13,829 in Islamabad, 1,619 in Gilgit-Baltistan and 1,485 in Pakistan-occupied Kashmir.

The death toll due to the virus reached 5,058 with 75 more deaths reported over the last 24 hours, as per data cited by Radio Pakistan.

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March 27,2020

London, Mar 27:  British Prime Minister Boris Johnson said Friday he has tested positive for the new coronavirus, but remains in charge of the U.K.'s response to the outbreak.

Johnson's office said he was tested on the advice of the chief medical officer after showing mild symptoms.

It said Johnson is self-isolating at his 10 Downing St. residence and continuing to lead the country's response to COVID-19.

In a video message, Johnson said he had a temperature and a persistent cough.

Over the last 24 hours I have developed mild symptoms and tested positive for coronavirus.

I am now self-isolating, but I will continue to lead the government’s response via video-conference as we fight this virus.

Together we will beat this. #StayHomeSaveLives pic.twitter.com/9Te6aFP0Ri

— Boris Johnson #StayHomeSaveLives (@BorisJohnson) March 27, 2020
"Be in no doubt that I can continue, thanks to the wizardry of modern technology, to communicate with all my top team, to lead the national fightback against coronavirus."

Earlier this week Britain’s Prince Charles announced that he had tested positive for the virus.

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February 4,2020

Kuala Lumpur, Feb 4: Malaysia said on Tuesday that India's move to cut back on palm oil purchases is "temporary" and will be resolved amicably between the two nations.

Last month, India restricted imports of refined palm oil and asked importers to avoid purchases from Malaysia after its criticism of actions in Kashmir and a new citizenship law.

"Having long-standing bilateral ties, the two nations will overcome the current challenges, and prevail towards mutual and beneficial outcomes," the Malaysian Palm Oil Council said in a statement, citing Primary Industries Minister Teresa Kok.

Malaysia's push to implement B20 biodiesel starting this month will also help sustain high crude palm oil prices, the statement read.

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