The novel coronavirus (COVID-19) has imperatively shaken the behavior of the global financial markets. This study estimated the impact of COVID-19 on the behavior of the financial markets of Europe and the US. The results revealed that the returns of the S&P 500 index have been greatly affected by a lockdown in the US owing to COVID-19. However, the health crisis generated due to the novel coronavirus significantly decreased the stock returns of the Nasdaq Composite index. The results also showed (...) that the economic crisis generated from the pandemic in Spain has had more impact on the IBEX 35 as compared to the health crisis itself. On the other hand, in the long-run, Italy’s stock markets are more affected by the health crisis as contrasted with the economic crisis, while, in the short-run, both lockdown conditions and economic instability lower the stock returns of FTSE MIB. The UK stock markets witnessed that in the short-run, deficiency of health management systems imperatively damaged the stock returns of the London Stock Exchange. The investigation revealed that deficiency of health systems and lockdown conditions have imperatively damaged the structure of financial markets, inferring that sustainable development of these nations is at risk due to COVID-19. The study suggested that governments should allocate more of their budget to the health sector to overcome a health crisis in the future. (shrink)

We examined a largely ignored but imperative dimension of safety literature by testing the impact of ethical leadership style on organizational safety performance. We also tested dual mediating paths of safety culture and safety consciousness in the relationship between ethical leadership style and organizational safety consciousness. Data were collected from a large public sector telecom company in Pakistan. Confirmatory factor analysis was used to assess the reliability and validity of the study scales and model fit. Preacher and Hayes’s macro of (...) mediation was employed to test the direct and indirect paths proposed in the study. The findings suggest that ethical leadership has a positive impact on organizational safety performance. Partial mediating roles of safety culture and safety consciousness were also found between the dependent and independent variables. Theoretical and practical implications are discussed. (shrink)

Abortion is the most common and controversial issue in many parts of the world. Approximately 46 million abortions are performed worldwide every year. The world ratio is 26 induced abortions per 100 known pregnancies. Pakistan has an estimated abortion rate of 29 abortions per 1,000 women of reproductive age, despite the procedure being illegal except to save a woman’s life. 890,000 abortions are performed annually in Pakistan. Many government and non-government organizations are working on the issue of abortion. Muslim jurists (...) are unanimous in declaring that after the fetus is completely formed and has been given a soul, abortion is haram (forbidden). (shrink)