The economic committee of the Shura Council prepared a draft law for sukuk, which differs from the Ministry of Finance’s current project regarding sukuk. According to Saeed Aref, a member of the council’s economic committee, the draft law grants foreigners the right to invest in sukuk usufruct for a maximum duration of 40 years, saying there will be no maximum percentage of ownership. Al-Azhar will be consulted to see the compatibility of the law with Sharia before the end of dialogue sessions, he added.
- Dispatches from a Pandemic: ‘Would you risk your life for a bagel?’ A New Yorker’s guide to surviving grocery stores during the coronavirus pandemicA 5-point guide to shopping in the epicenter of COVID-19 in the United States, as told by a New Yorker who spent one hour in a supermarket buying two weeks’ worth of food.
- The Fed: Fed, seeking ways to improve Treasury market, eases capital rule for big banksThe Federal Reserve, seeking more ways to help stabilize the fragile Treasury market, eased a rule so that big banks can be more active in the market.
- The Wall Street Journal: Social Security recipients won’t need to file tax returns to get coronavirus stimulus checkSocial Security recipients won’t need to file tax returns to receive the $1,200 one-time payments authorized in the new economic-relief law, the Treasury Department said late Wednesday in a reversal of its prior position.
- What's Worth Streaming: Here’s everything coming to Netflix in April 2020 — and what’s leavingMost of the country will likely be holed up at home and self-isolating for much of April amid the coronavirus outbreak, but fear not, Netflix Inc. has a bunch of new stuff on tap.
- Market Extra: Investment-grade U.S. companies storm gates to borrow with Fed at their backFollowing a banner March, April could see another $150 billion to $200 billion of borrowing from investment-grade U.S. companies, including the financing of T-Mobile’s acquisition of Sprint.
- CityWatch: Gov. Cuomo: 16,000 New Yorkers could die from the coronavirus, according to Gates Foundation-backed projectionsThe projections also say 93,000 Americans could die as a result of COVID-19.
- Zoom Video lurches from boom to backlash amid privacy issues, ‘Zoom bombing’ attacksFor weeks, Zoom Video Communications Inc. basked in the glow of surging shares, enthusiastic research reports, and insatiable demand among consumers and enterprises.
- Google will no longer pay lobbyists that deny climate change, pledges zero emissions by 2025Google parent Alphabet will cut ties with lobbyists and think tanks that deny accelerating man-made climate change, reacting in part to the global toll of the COVID-19 pandemic and heeding repeat complaints from employees and environmental activists.
- In One Chart: Guns sales break Sandy Hook record as shops ruled ‘essential’ businessesGun sales usually spike after mass shootings, but in this case, it was the coronavirus pandemic.
- Key Words: ‘Shutdown everywhere’ for at least 10 weeks? Bill Gates warns there’s ‘no middle ground’ in the coronavirus fightThe Microsoft founder urged the government to enforce a nationwide shutdown in an op-ed in the Washington Post.