[box type=”info” align=”” class=”” width=””]Alvin Orbaek White, Swansea University[/box] The big problem with plastics is that though they last for a very long time, most are thrown away after only one use. Since plastics were invented in the 1950s, about 8,300m metric tonnes (Mt) have been made, but over half (4,900 Mt) is already in landfill or has been lost to the environment. In 2010 alone, an estimated 4.8 to 12.7 Mt went into the oceans. Only a small proportion of the hundreds of types of plastics can be recycled by conventional technology. But there are other things we can…
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[box type=”info” align=”” class=”” width=””]Peter Lochbihler Global head of public affairs, Booking.com[/box] The term ‘globalization’ has become increasingly divisive in the recent past. It is high time to redefine it and make globalization a term that emphasizes local opportunities on a global scale, instead of scaling globally in just a few locations. When globalization is seen to disproportionately benefit Palo Alto, Amsterdam and Shanghai, it will inspire skepticism and resentment. Instead, it surely can and should spur growth and improve living standards everywhere, from Youngstown, Ohio, to the banlieues of Paris, and the rural provinces of China. Local responsibility of…
[box type=”info” align=”” class=”” width=””]Ralf Seifert, IMD Business School and Richard Markoff,EPFL- École Polytechnique Fédérale de Lausanne – Swiss Federal Institute of Technology in Lausanne[/box] Many people probably assume that online stores are making a fortune, without all the costly bricks and mortar. But the reality is rather different. Many ecommerce activities are, in fact, unprofitable; if people had to pay the true cost of what they bought online, they would probably buy less. In fact, we think there is an inflection point approaching, when consumers will either have to pay more for online purchases or end up with fewer…
[box type=”info” align=”” class=”” width=””] Benedict Carandang Vice President, First Circle[/box] Around 1.7 billion people globally are still unbanked – either having no proper savings or access to credit – according to the 2017 Global Findex Database. In Southeast Asia, only 27% of adults have formal bank accounts and only 33% of businesses have access to proper financing. While the region has been growing exponentially for the past few decades, financial inclusion in the region remains poor. The Philippine economy in particular has been consistently growing by 5.3% per year, driven by favourable economic conditions and strong macroeconomic fundamentals. However, this promising…
[box type=”info” align=”” class=”” width=””]Aubrey Hruby Senior advisor to Fortune 500 companies[/box] For more than 30 years, governments and international development organizations have followed the same recipe for formalising the world’s informal economy; enacting new legislation and regulations or abolishing those that get in the way of the process. Yet despite their efforts, 93% of the world’s informal employment is still found in emerging and developing countries, with 85.8% of employment in Africa considered informal. In Kenya, sub-Saharan Africa’s fifth-largest economy, the informal sector – commonly referred to as Jua Kali – is the country’s main job creator. According to the 2019…
[box type=”info” align=”” class=”” width=””]Thomas L Muinzer, University of Dundee [/box] As if there was any doubt, the UN’s latest report on climate change makes clear this is one of the most pressing issues of our times. And as we witness Extinction Rebellion stirring the pot of protest in the UK, that movement is connected to the geopolitical experience of other countries in important ways. This is certainly the case where Mexico is concerned, a country that has been rightly held up as a major leader on climate change in the developing world, while putting the US government to shame…
Stocks gain 271 points on Rs20bn support fund; volatility persists Summary During the week two important news had direct impact on the working of Pakistan Stock Exchange (PSX): (i) The approval on Thursday of issuance of sovereign guarantee of Rs20 billion for investment in National Investment Trust (NIT) – State Enterprise Fund — with objective to stabilize stock market; (ii) The controversial removal of PSX CEO Richard Morin by a majority of 8-6 from his post by the board of directors due to his ‘unsatisfactory’ performance. Only the broker directors voted in favour of his removal while foreign investors seemed…
Published in Variety on May 29th, 2019, By REBECCA RUBIN The box office will head to infinity and beyond when Disney’s “Toy Story 4” hits theaters on June 21. According to early tracking, the latest installment in Pixar’s animated franchise is on pace for an opening weekend between $100 million and $150 million. Those numbers could fluctuate as the studio ramps up marketing efforts over the next three weeks, but positive reviews and strong word of mouth could propel that figure higher. Fandango and Atom Tickets both reported that advance ticket sales for “Toy Story 4” are already outpacing other animated movies…
Published in MSN on May 30th, 2019, By Brian Welk Sony Pictures has followed suit with WarnerMedia, Disney and Netflix among others in saying the company will monitor the outcome of whether the Georgia “Heartbeat Law” will be enacted as they consider whether to continue filming in the state. “As the MPAA has noted, the outcome of the Georgia ‘Heartbeat Law,’ and similar proposed legislation in other states, will be determined through the legal process,” a Sony Pictures Entertainment spokesperson told TheWrap. “We will continue to monitor that process in close consultation with our filmmakers and television showrunners, talent…
Cast members Naomi Scott and Will Smith attend the premiere of “Aladdin” at El Capitan theatre in Los Angeles, California, U.S. May 21, 2019. REUTERS Published in Geo on May 27th 2019, LOS ANGELES: Disney’s live-action “Aladdin” is flying high with an estimated $105 million in North America during the four-day Memorial Day holiday weekend. It’s the sixth-highest Memorial Day weekend total ever, topping the 2011 mark of $103.4 million for “The Hangover Part II.” The top total came in 2007, when “Pirates of the Caribbean: At World’s End” took in $139 million in its first four days. “Aladdin”…
10 best teams from all over the world will be taking part in the ICC Cricket World Cup 2019. Photo: File Published in Geo on May 30th, 2019, By Arijah Siddiqui The ICC Cricket World Cup 2019 will kick start from today (May 30) with the clash between host England and South Africa. The format of the tournament this year has been kept the same as that of 1992. And how can we forget how special that year was for Pakistan. In the history of cricket, the first One-Day International match was played in Melbourne on January 5th, 1971…
Published in Samaa on May 30th, 2019, After a long wait, the ICC Cricket World Cup will be kicking off today (Thursday) in England with a match between England and South Africa. The hosts will take on the Proteas at 2:30pm Pakistan time. The 10 teams participating in the mega event will be playing 48 matches in 11 different grounds. Instead of dividing the teams into two groups, this time they will be playing in the round robin format. Each team will get the opportunity to play against the rest of the nine teams. This is Afghanistan’s first time…
Pakistan, who had been on the brink of elimination, rode their luck before finding their form late on under the inspirational captaincy of Imran Khan, who had urged his players to “fight like cornered tigers”. Photo: File Published in Geo on May 30th, 2019, LONDON: The Cricket World Cup starts in England today with 10 teams vying to be crowned champions in the 12th edition of the tournament. Here’s a look back at the history of the one-day showpiece. 1975: Windies wonders Photo: cricketworldcup.com A West Indies side including several players who had experience of limited-overs competitions in county…
Chelsea celebrate winning the Europa League with the trophy. Published in Gulf News on May 30th, 2019, Hazard hits final brace in likely last game for club in emphatic 4-1 win Baku: Eden Hazard scored twice in what could be his farewell appearance as Chelsea swept away Arsenal in the Europa League final in Baku, winning 4-1 to hand Maurizio Sarri his first major trophy as a coach. This match started at 11pm local time on Wednesday in Azerbaijan, but it was Thursday by the time it came to life with a flood of second-half goals started by Olivier…
Pakistan will host the tournament in September 2020, one month prior to the T20 World Cup in Australia Published in Geo on May 29th, 2019, By Abdul Majid Bhatti Pakistan will host the Asia Cup T20 in 2020, the Asian Cricket Council (ACC) decided in its meeting held in Singapore. Pakistan was represented by Pakistan Cricket Board (PC) Chairman Ehsan Mani and Managing Director Wasim Khan. A decision on which city in Pakistan will host the tournament is yet to be taken. A PCB spokesman said the name of the city to host the tournament would be announced soon…
Trade tensions between China and the US escalated sharply earlier in May [File: Andrew Harnik/AP] Published in AlJazeera on May 30th, 2019, Senior Chinese official toughens rhetoric as trade war between world’s top two economies shows no signs of ending soon. China has ramped up the rhetoric in its ongoing trade war with the United States, saying that deliberate provocations of commercial disputes amount to “naked economic terrorism”. The world’s two largest economies are at loggerheads as trade talks have apparently stalled, with US President Donald Trump hiking tariffs on Chinese goods earlier this month and blacklisting telecommunications giant Huawei. “We are against the…
Israeli Prime Minister Benjamin Netanyahu talks to the press following a vote on a bill to dissolve the Knesset (Israeli parliament) on May 29, 2019, at the Knesset in Jerusalem. ─ AFP Published in Dawn on May 30th, 2019, Israel’s parliament voted to dissolve itself early Thursday, sending the country to an unprecedented second snap election this year as Prime Minister Benjamin Netanyahu failed to form a governing coalition before a midnight deadline. The dramatic vote, less than two months after parliamentary elections, marked a setback for Netanyahu and sent the longtime leader’s future into turmoil. Netanyahu, who has…
Prime Minister Abdullah bin Nasser bin Khalifa Al Thani will attend the emergency summit [Jalal Morchidi/Anadolu] Published in AlJazeera on May 29th, 2019, by Ramy Allahoum It will be one of the first high-level meetings between top Qatari leaders and blockading nations since June 2017. Doha, Qatar – Qatar’s Prime Minister Abdullah bin Nasser bin Khalifa Al Thani will attend a Gulf summit in Mecca this weekend, one of the first high-level meetings with blockading nations since the embargo was imposed nearly two years ago. A high-level source told Al Jazeera on Wednesday the face-to-face between Sheikh Abdullah and top…
Published in BBC on May 30th, 2019, The government runs the risk of another Windrush scandal if “serious concerns” about its EU settlement scheme are not addressed, MPs have said. The Commons Home Affairs Committee said technical issues had “blighted” the scheme, with some struggling to navigate the online application system. It said people who have lived for years in the UK could face uncertainty over their rights and eligibility to remain. But the Home Office said the scheme was “performing well”. It had “taken great care to learn from the experience of the Windrush generation”, it said, referring…
FILE PHOTO: The U.S. Navy guided-missile destroyer USS John S. McCain is seen after a collision, in Singapore waters August 21, 2017. REUTERS/Ahmad Masood/File Photo Published in Reuters on May 29th, 2019, WASHINGTON (Reuters) – U.S. President Donald Trump said on Wednesday he was unaware of any effort to move the USS John S. McCain that was stationed near the site of his recent speech in Japan. A U.S. official, speaking on condition of anonymity, confirmed to Reuters that an initial request had been made to keep the John McCain out of sight during Trump’s speech but was scrapped…
GULF STATES – ECONOMICS & FINANCE WTO to probe UAE’S complaint against Qatar The World Trade Organisation, WTO, agreed to look into the complaint filed by the United Arab Emirates against the ban imposed by Qatar on Emirati products. The WTO has decided to constitute an arbitration committee to investigate the UAE’s complaint. The UAE has stressed that the Qatari ban on Emirati products is a flagrant violation of WTO rules and at odd with its obligations towards the global trade body. The country said it was looking forward to working with the WTO arbitrators and contesting Qatar’s unilateral decision…
INDIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT India moves up to 43rd in competitiveness; Singapore tops chart India has moved up one place to rank 43rd most competitive economy in the world on the back of its robust economic growth, a large labour force and its huge market size, while Singapore has toppled the US to grab the top position, a global study showed. Singapore has moved up to the top, from the third position last year, while the US has slipped to the third place in the 2019 edition of the IMD World Competitiveness Rankings. Hong Kong SAR has held…
ECONOMIC TIMES OF PAKISTAN Tax collection shortfall widens to PKR 440 bn The shortfall in tax collection has widened to Rs440 billion in the first eleven months of this fiscal year with only 1percent growth rate, which may push the total collection at the end of the year even below the level left behind by the Pakistan Muslim League-Nawaz (PML-N) government. The steep shortfall in tax collection has also made the next fiscal year 2019-20’s proposed target of Rs5.550 trillion unrealistic – even before the start of the fiscal year, which will begin from July. From July through May of…
PAKISTAN NEWS: PTCL Partners with daraz to offer exclusive shopping vouchers: Pakistan Telecommunication Company Limited (PTCL), the country’s largest telecom services provider, has collaborated with Daraz, Pakistan’s biggest e-commerce platform, to offer exclusive Daraz shopping vouchers to PTCL customers. This initiative provides discounts to PTCL customers, who are new to Daraz, and PTCL users who are already customers of Daraz, on purchases made through Daraz website and Daraz App. The vouchers will be sent to PTCL customers as part of their bill and the offer will be valid for one-time purchase only made during the month of June. [divider style=”normal”…
Realme launches powerful performing series 3pro in pakistan Pakistan fastest growing mobile brand Realme, has now confirmed that the device, Realme 3 Pro and c 2 will be launched on Wednesday May 29, 2019 in Pakistan. The company released the Realme 3 budget phone last month, and is set to follow it up with a more powerful Pro model. “By embodying the spirit of ’Proud to Be Young’, Realme provides an optimum combination of bold, innovative designs and a balanced integration between software and hardware. Realme represents the concept of ’SPEED AWAKENS, or the amalgamation of fast performance and trendy…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. [ads1] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 12.22 12.72 2 – Week 12.25 12.75 1 – Month 12.31 12.81 3 – Month 12.60 12.85 6 – Month 12.70 12.95 9 – Month 12.80 13.30 1 – Year 12.93 13.43 2 – Year 13.13 13.63 3- Year 13.28 13.78
KSE-100 index recovers 2,537 points after seven weeks of bearish spell Summary The stock market remained bearish for seven weeks since April 2 and lost 3,932 points to stage recovery this week by 2,537 points. The economic horizon become clear to investors as uncertainty about IMF program subsided. The IMF program is aimed at improving Pakistan’s public finances; reducing public debt and helping the country get back on the path to a sustainable, more inclusive growth stated by Gerry Rice, Director Communication Dept, IMF during a media briefing this week. Ensuing actions by government by raising policy rate by150 bps…
Published in Geo on May 21st, 2019, Warning: This story contains spoilers for the final episode of Game of Thrones. More than 19 million US viewers watched the series finale of television’s Game of Thrones — a record audience for HBO, the cable channel said on Monday. HBO, a unit of AT&T’s Warner Media, said Sunday’s 19.3 million live television audience and viewers on its HBO GO and HBO NOW apps exceeded the previous high for the fantasy — 18.4 million, for the penultimate episode a week ago. The finale was also the most-watched single telecast ever on HBO, surpassing the previous…
Published in Gulf News on May 24th, 2019, Christie D’Zurilla, Los Angeles Times James Cameron, who directed the first ‘Terminator’, is also back as writer and producer Linda Hamilton is back in ‘Terminator: Dark Fate’, and you do not want to get in this woman’s way — not any more than you did in her previous outings as Sarah Connor, fighting for humanity against the onslaught of the machines. Mackenzie Davis, who played the title role in ‘Tully’ with Charlize Theron, stars as Grace in the Paramount Pictures film. In the trailer out, Grace is fighting on her own…
Pop superstar Rihanna poses in a pop-up store to present her first collection with LVMH for the new label, Fenty, which includes ready-to-wear and accessories, such as shoes, sunglasses and jewellery, Paris, France May 22, 2019. Picture taken May 22, 2019. REUTERS Published in Geo on May 23rd, 2019, PARIS: Barbadian singer Rihanna has unveiled her new fashion brand with Louis Vuitton owner LVMH, a rare move by the French group to set up a label from scratch as it taps into soaring demand for celebrity collaborations in the luxury world. Fenty – after the “Umbrella” hitmaker’s full name,…
Published in Dawn on May 24th, 2019, While India is Asia’s obvious contender for the World Cup title, there are four other nations from the continent which could pose problems for highly-ranked teams. Among them, Pakistan and Sri Lanka are former World Cup winners. Bangladesh and Afghanistan are relatively new to the scene. Bangladesh has improved with every outing at the quadrennial event and has produced some big upsets already. Afghanistan is the newest of the International Cricket Council’s full members and had to secure its spot at the World Cup through qualifying, beating some considerably more established teams.…
Published in Ary Sports on May 23rd, 2019, Captain Cristiano Ronaldo was included in Portugal’s squad for next month’s Nations League semi-final against Switzerland, head coach Fernando Santos announced on Thursday. Ronaldo, 34, a five-time Ballon d’Or winner missed the group stages preferring to try and adapt to life in Juventus since moving from Real Madrid. The Euro 2016 champions welcome the Swiss on June 5 in Porto and the Netherlands play England in Guimaraes a day later before a third place play-off and a final on June 9. He lifted the Serie A title with his Italian club…
FIFA has now concluded it lacks the time to prepare a country to host extra games [Noushad Thekkayil/EPA-EFE] Published in AlJazeera on May 22nd, 2019, World football governing body scraps plans to expand tournament in Qatar from 32 teams, citing ‘logistical’ problems. Football’s global governing body FIFA has abandoned plans to expand the 2022 Qatar World Cup to 48 nations, deciding to stick with 32 countries because of the political and logistical complexities of using another Gulf nation. FIFA President Gianni Infantino’s hopes of expanding the Middle East’s first World Cup in the region were stymied by the regional diplomatic crisis and the body’s…
Published in Gulf News on May 22nd, 2019, They are top of the ranks but underdogs for the Roland Garros titles Paris: World No 1 Novak Djokovic has enjoyed two good weeks on red clay but admitted that winning a second French Open title would be a tall order after a crushing defeat by Rafael Nadal in last week’s Italian Open final. Djokovic clinched the Madrid Open without dropping a set and then won a pair of epic battles against Argentines Juan Martin Del Potro and Diego Schwartzman in Rome before succumbing to the imperious Nadal 6-0, 4-6, 6-1…
Prof Alston met people across the UK, including these Belfast residents Published in BBC on May 22nd, 2019, The UK’s social safety net has been “deliberately removed and replaced with a harsh and uncaring ethos”, a report commissioned by the UN has said. Special rapporteur on extreme poverty Philip Alston said “ideological” cuts to public services since 2010 have led to “tragic consequences”. The report comes after Prof Alston visited UK towns and cities and made preliminary findings last November. The government said his final report was “barely believable”. The £95bn spent on welfare and the maintenance of the state pension…
Iran vows no surrender – even if bombed by ‘enemies’ Published in AlJazeera on May 24th, 2019, War rhetoric ratchets up again as Iranian president says his people will never give up the fight for their independence. Iran will not surrender to US pressure and will never abandon its goals even if it is attacked, President Hassan Rouhani said on Thursday. Earlier in the day, Iran’s top military chief said the standoff between Tehran and Washington was a “clash of wills”, warning any enemy “adventurism” would meet a crushing response, the semi-official Fars news agency reported. Tensions are festering between the two…
Soldiers deployed at Fort Huachuca, Ariz., in November as part of the president’s closing political message in the lead-up to the midterm elections . Spc. Brandon Best/United States Army Published in The New York Times on May 22nd, 2019, By Helene Cooper and Zolan Kanno-Youngs WASHINGTON — The Pentagon said on Wednesday that it would build temporary housing along the southwestern border for 7,500 migrant adults facing deportation, the latest step in the administration’s efforts to respond to a surge of undocumented immigrants and asylum seekers trying to enter the United States. The Defense Department will loan military-style tents to the Department…
FILE PHOTO: Senator Tom Cotton (R-AR) arrives for a Senate Intelligence Committee hearing evaluating the Intelligence Community Assessment on “Russian Activities and Intentions in Recent US Elections” on Capitol Hill in Washington, U.S., May 16, 2018. REUTERS/Joshua Roberts (This May 22 story corrects party affiliation for Wicker, paragraph 5) Published in Reuters on May 22nd, 2019, WASHINGTON (Reuters) – A bipartisan group of U.S. lawmakers introduced legislation on Wednesday to provide about $700 million in grants to help U.S. telecommunications providers with the cost of removing Huawei equipment from their networks. The bill also moves to block the use of…
The Pentagon declined to comment on the reports of additional US troops being sent to the Middle East [File: Susannah George/AP Photo] Published in AlJazeera on May 22nd, 2019, Reports citing unnamed US officials say Department of Defense is considering deploying extra forces over Iran tensions. Two US officials, speaking on the condition of anonymity, told Reuters news agency on Wednesday that the request for 5,000 more soldiers had been made by US Central Command, but they added it was not clear whether the Pentagon would approve the request. In a separate report, The Associated Press news agency quoted unidentified officials as saying that…
GULF STATES – ECONOMICS & FINANCE Emirates steel signs agreement with finnish company Emirates Steel has signed an agreement with Finnish company, Ecofer, due to take effect in 2020, which will provide Emirates Steel with sustainable slag management services for the next 10 years, in line with the company’s long-term commitment and objective of eventually producing zero waste. Under this new agreement, signed in Abu Dhabi between the CEO of Emirates Steel, Saeed Al Remeithi, and the managing partner of Ecofer Technologies, Ismail Fahmy, Ecofer will process slag from Emirates Steel’s Electric Arc Furnace and Ladle Furnace. The slag, which…
INDIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT Boosting economy to bridging divide, Modi has his task cut out As Prime Minister Narendra Modi takes charge for a second time, after a long, divisive and gruelling election campaign, it is time for India’s political leadership to shift gears and turn on their governance lens. Elections are critical to sustaining democracy. But the country has been in election mode for close to two years now. It began with the Uttar Pradesh assembly elections of 2017, and after a brief interlude, moved to the Gujarat assembly polls at the end of that year. Last…
ECONOMIC TIMES OF PAKISTAN Government mulls GST hike, tax relief withdrawal In a bid to collect over Rs2 trillion through sales tax, the government is weighing between walking on an easy path and increasing general sales tax (GST) rate to 18percent or taking politically challenging decision of withdrawing concessional rates being availed by politically connected sectors. The current sales tax collection is in the range of Rs1.7 trillion and the government is looking for avenues to generate additional over Rs350 billion from sales tax alone in fiscal year 2019-20. If the Federal Board of Revenue (FBR) takes the politically challenging…
PAKISTAN NEWS: Mobile connectivity of millions of users in pakistan at risk: GSMA: The GSMA raised serious concerns over the unreasonable fees set by the government and Pakistan Telecommunication Authority (PTA) on operators renewing mobile spectrum licenses in Pakistan, which it believes pose a significant risk to the mobile connectivity of millions of citizens. On 25 May, the licenses of two of the country’s largest mobile operators – Jazz and Telenor – are set to expire. Under the current conditions operators are being asked to pay $450m to renew their licenses (more than double the dollar price at which operators…
Uber offers exciting cricket opportunity for fans Following Uber’s deal with the International Cricket Council (ICC) to sponsor the upcoming Cricket World Cup (CWC), Uber, the world’s largest personal mobility company, is providing Pakistani fans an opportunity to win big. Through its ride-to-win and drive-to-win competitions, Uber is providing its riders and driver partners the chance to make the most of the World Cup by earning rewards through the Uber app. The idea is to give back to those who follow the global game by gamifying the CWC. This competition for riders and driver partners’ builds upon Uber’s alignment towards…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. [ads1] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 12.22 12.72 2 – Week 12.25 12.75 1 – Month 12.31 12.81 3 – Month 12.60 12.85 6 – Month 12.70 12.95 9 – Month 12.80 13.30 1 – Year 12.93 13.43 2 – Year 13.13 13.63 3- Year 13.28 13.78
[box type=”info” align=”” class=”” width=””]Sonali Paul Charlotte Greenfield Writer, Reuters[/box] Thousands of young activists in Australia and New Zealand launched a global protest on Friday demanding that politicians and business leaders move swiftly to curb greenhouse gas emissions to fight climate change. Protesters take part in a Image: AAP Image/David Crosling/via REUTERS Coordinators expect more than a million young people to join protests in at least 110 countries, inspired by 16-year-old Swedish activist Greta Thunberg’s demand for urgent action to slow global warming. “I’m worried about all the weather disasters. Everytime we have huge a bushfire here another animal…
[box type=”info” align=”” class=”” width=””] Gemma Briggs, The Open University; Helen Wells, Keele University, and Leanne Savigar, Keele University[/box] The retired football star David Beckham recently received a six-month driving ban after being photographed using his hand-held phone while driving. Unfortunately, Beckham is not alone in apparently thinking that time spent driving can also be usefully spent doing something else. But it isn’t just phones that can distract us while driving. Increasingly, vehicles come pre-installed with technology that promises to improve our lives and let us get that little bit more productivity out of our journey – be it digital…
[box type=”info” align=”” class=”” width=””]Elisabeth Andvig Project Specialist, Partnering Against Corruption Initiative, World Economic Forum[/box] Corporations are powerful actors in society. They have the opportunity to shape the world around them and to influence global agendas. They have a responsibility not just to shareholders, but also to their employees, customers and the general public. Employees are increasingly choosing employers based on social responsibilities, rather than short-term profits, pushing companies to put transparency and accountability at the forefront of their operating principles. The duty to pursue profit as a CEO is a duty of temporal order, while the pursuit of long-term advantage involves…
[box type=”info” align=”” class=”” width=””]James Dyke, University of Exeter[/box] The coffee tasted bad. Acrid and with a sweet, sickly smell. The sort of coffee that results from overfilling the filter machine and then leaving the brew to stew on the hot plate for several hours. The sort of coffee I would drink continually during the day to keep whatever gears left in my head turning. Odours are powerfully connected to memories. And so it’s the smell of that bad coffee which has become entwined with the memory of my sudden realisation that we are facing utter ruin. It was the…
[box type=”info” align=”” class=”” width=””]Ephrat Livni Writer, Quartz[/box] As of June 1, travelers to Tanzania will have to pack very carefully. The country announced the implementation of the second phase of its plastic bag ban on May 16. Visitors are advised to avoid packing or carrying any plastic bags as they’ll have to leave these at a designated desk in the airport. The first phase of the country’s anti-plastic initiative began in 2017 to “protect the youth and environment,” with an initial ban on the manufacture of plastic bags and in-country distribution. Phase two extends to tourists. “The government does not intend for visitors…
[box type=”info” align=”” class=”” width=””]John Dutton Head of Forum Foundations, Member of the Executive Committee, World Economic Forum Silje Ditlefsen Program Design and Impact Specialist, World Economic Forum[/box] “The stability of nature can no longer be taken for granted,” David Attenborough said recently. If anyone still thought they could ignore the climate crisis, recent reports and drastic changes to our planet should shatter that perception. Nowhere is this more visible than in Greenland. Today a group of 20 Young Global Leaders heads for Greenland to witness devastating local changes that have global consequences, and commit to being part of a…
[box type=”info” align=”” class=”” width=””]by Felix Richter, May 16, 2019[/box] According to the 2019 edition of Kantar’s Brand Footprint report, Coca-Cola remains the most chosen FMCG brand in the world for the seventh year running. According to the report, which measure how often consumers choose an item from a particular brand, Coca-Cola’s products were picked from the shelves 5.97 billion times last year, reaching more than 40 percent of households around the world. The following chart shows the world’s most popular consumer brands based on consumer reach points, a metric that measures how many households around the world are buying a brand and how…
[box type=”info” align=”” class=”” width=””]by Sarah Feldman, May 17, 2019[/box] Instagram is having its moment in the marketing limelight. A new study from Social Media Examiner found that nearly three-quarters of marketers they surveyed are working with Instagram, a 7-point increase from last year’s report. The ‘gram was the only platform to see a significant jump in usage, with YouTube registering a modest 4-point increase in reported use. Marketers interest with Instagram may be somewhat motivated by the significant jump in the referral traffic coming from the image oriented social network. According to Merkle, Instagram experienced a 114 percent increase year-on-year in its referral…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, May 16, 2019[/box] The ongoing trade rift between Washington and Beijing has led to a significant reduction in Chinese imports of U.S. crude oil amid concerns about the implementation of new tariffs. In the period from April 2018 to September 2018, China imported 47 million barrels of American crude oil. That fell significantly to just 10.5 million barrels between October 2018 and March 2019, according to Bloomberg. The U.S. has managed to diversify and increase its customer base with the number of countries importing its oil rising from 31 to 38 during those two six month periods.…
[box type=”info” align=”” class=”” width=””]by Felix Richter, May 15, 2019[/box] Contrary to what their name might suggest, basketball, tennis and running shoes are in no way confined to courts and tracks these days. Athletic footwear, less formally known as sneakers, can be found anywhere from boardrooms to fashion runways and companies such as Nike and Adidas are making billions feeding the sneaker frenzy. With annual footwear sales of $22.3 billion, Nike is still number 1 in the global sneakers market. Having started as an enterprise licensing Japanese running shoes for the American market, Nike quickly developed a name of its own in the 1970s when…
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, May 16, 2019[/box] The Department for Environment, Food and Rural Affairs (Defra) releases monthly figures on the number and type of animals that are slaughtered as meat for human consumption. As our infographic shows, April 2019 saw almost 1.2 million sheep slaughtered – a 31 percent increase on April 2018. For the animals that Defra publishes statistics for, pigs were the second most common with 908,000, followed by 219,000 cows. Chickens are not included in this particular report. [ads1] You will find more infographics at Statista
IMF deal leads turmoil in market as KSE-100 index loses 4.5pc wow Summary Nation was informed on last Sunday by advisor to PM on Finance Dr. Abdul Hafeez Shaikh that a staff-level agreement has been reached with IMF on a 39-month Extended Fund Facility (EFF) program of $6 billion. This was a news of joy as well as concern to investors. The investors were happy over removal of uncertainty over IMF loan. They were concerned for applicability of IMF conditions attached to the loan particularly the market determination of exchange rate and the SBP discount rate policy. This led to…
Flowers and messages are placed outside Lakemba Mosque in Sydney on March 20, 2018, five days after the mass shooting attacks at two mosques in Christchurch that killed 50 Muslim worshippers in the city. Photo: AFP Published in Geo on May 16th, 2019, CANNES: The New Zealand mosque massacre in which a white supremacist slaughtered 51 people is to be turned into a movie called Hello Brother, its producer told media at Cannes on Wednesday. The feature film, which follows a family of refugees that flees Afghanistan for the safety of Christchurch only to get caught up in the carnage,…
Travis Scott Image Credit: Courtesy of Instagram.com/travisscott Published in Gulf News on May 16th, 2019, The American hip hop star will perform at the Yasalam After-Race Concert Rapper Travis Scott has been announced as the first headline act who will perform at the Yasalam After-Race Concert during this year’s F1 Etihad Airways Abu Dhabi Grand Prix. Scott is set to perform on November 29 at the du Arena, Yas Island. The Platinum-selling artist has been steadily winning over underground music fans in the know since 2014. Last year’s release of his album ‘Astroworld’ saw the 28-year-old American rapper reach…
Gomez is the second most followed person on Instagram Published in BBC on May 15th, 2019, By Paul Glynn Actress and singer Selena Gomez says social media has been “terrible” for her generation, and has urged people to set time limits on online activity. Speaking at the Cannes Film Festival, where she is promoting her new film The Dead Don’t Die, the 26-year-old said: “I think our world is going through a lot obviously. “But for my generation specifically, social media has been terrible.” She claimed many young people were unaware of important news issues. “It’s a useful platform…
‘Rick and Morty’ follows disgruntled super scientist Rick Sanchez and his hapless grandson Morty Smith on their wild sci-fi misadventures. Photo: Adult Swim Published in Geo on May 16th, 2019, Mark your calendars cause Rick and Morty are coming back! Adult Swim’s popular animated TV series is set to return for its fourth season in November 2019, WarnerMedia announced on Wednesday Rick and Morty follows disgruntled super scientist Rick Sanchez and his hapless grandson Morty Smith on their wild sci-fi misadventures [ads1] Last May the show was given a massive 70-episode order, which will bring the series to 101…
Jury members Alice Rohrwacher, from left, Robin Campillo, Yorgos Lanthimos, Kelly Reichardt, actor Javier Bardem, Charlotte Gainsbourg, jury member Elle Fanning, jury president Alejandro Gonzalez Inarritu, jury members Pawel Pawlikowski, Maimouna N’Diaye and Enki Bilal during the opening ceremony at the 72nd international film festival, Cannes, southern France, Tuesday, May 14, 2019. (Photo by Vianney Le Caer/Invision/AP) Image Credit: Vianney Le Caer/Invision/AP Published in Gulf News on May 15th, 2019, The Cannes Film Festival opened Tuesday with one of the glitziest line-ups in years as Hollywood stars and studios return in strength to the world’s biggest film jamboree. Spanish…
Pakistan´s Imam-ul-Haq celebrates his century during the third One Day International (ODI) cricket match between England and Pakistan at The Bristol County Ground in Bristol on May 14, 2019. Photo: AFP Published in Geo on May 15th, 2019, BRISTOL: Pakistan opener Imam-ul-Haq broke former India captain Kapil Dev’s record when he smashed a career-best 151 against England in the third one-day international at Bristol on Tuesday. Imam became the youngest player to score more than 150 runs at the age of 23 in England, entering the record books by breaking Dev’s record who had scored 175 runs against Zimbabwe…
Rita, 49, first scaled Everest in 1994 and has been making the trip nearly every year since [File: Navesh Chitrakar/Reuters] Published in AlJazeera on May 15th, 2019, Native Sherpa mountaineering guide breaks his own record of most successful ascents of the world’s highest peak. A Nepalese Sherpa climber Kami Rita has scaled Mount Everest for a 23rd time, breaking his own record for the most successful ascents of the world’s highest peak. Rita, a native of Thame village located in the shadow of Mount Everest, reached the 8,850-metre (29,035-feet) summit with other climbers via the Southeast Ridge route on Wednesday morning, tourism department…
Published in Dawn on May 16th, 2019, NEW DELHI: Former India captain Saurav Ganguly believes Pakistan are one of the favourites in the forthcoming ICC World Cup. Ganguly recalled how Pakistan have always performed well in the ICC events staged in England, including the 2017 ICC Champions Trophy. Though the Indian team won their duel in the league stages, Pakistan simply outplayed India by a massive 180 runs in the final and had previously also won the 2009 World T20 which was also played in England. “Pakistan’s record in world tournaments in England is remarkable. They won the Champions…
Published in Ary Sports on May 13th, 2019, Liverpool’s Sadio Mane and Arsenal’s Pierre-Emerick Aubameyang both scored twice on the final Sunday to share the Premier League’s Golden Boot award for top scorer with last season’s winner Mohamed Salah. The achievement of the three African strikers left Liverpool manager Juergen Klopp especially proud as he has played such an important part in the development of the trio’s careers. They all ended on 22 goals for the league campaign after Senegalese forward Mane scored twice in Liverpool’s 2-0 win over Wolverhampton Wanderers to join his Egyptian team mate Salah. Arsenal’s…
City needed a victory to claim its second consecutive Premier League title [John Sibley/Reuters] Published in AlJazeera on May 12th, 2019, Man City win 4-1 on final day to finish one point ahead of Liverpool and win their sixth PL title. Manchester City Football Club clinched another Premier League title on Sunday by beating Brighton & Hove Albion 4-1 on the final day of the season. Despite beating Wolverhampton Wanderers 2-0, Liverpool needed City to lose or draw to stand a chance at the title, which it last claimed 29 years ago. The defending champions took a hard hit when…
New Zealand’s Prime Minister Jacinda Ardern (L) and French President Emmanuel Macron (R) hold a press conference for the launch the global “Christchurch Call” at the Elysee Palace in Paris on May 15, 2019. ─ AFP Published in Dawn on May 16th, 2019, PARIS: Major tech firms pledged on Wednesday to pursue a range of fresh measures aimed at stamping out violent extremist content on the internet, amid growing pressure from governments in the wake of the massacres at two New Zealand mosques in March that left over 50 people dead. The “Christchurch Call” was spearheaded by New Zealand’s…
Sudanese protestors celebrate after an agreement was reached with the military council to form a three-year transition period for transferring power to a full civilian administration. Published in CNN on May 16th, 2019, By Nima Elbagir, CNN (CNN)At least nine people were injured when soldiers stormed a pro-democracy sit-in protest in the Sudanese capital Khartoum, eyewitnesses said, in continuing violence after the ouster of longtime President Omar al-Bashir. The soldiers in the uniform of the paramilitary Rapid Security Forces overran barricades at the scene of the demonstrations outside army headquarters on Wednesday, eyewitnesses told CNN, adding that gunfire could…
Migrants are seen outside the U.S. Border Patrol McAllen Station in a makeshift encampment in McAllen, Texas, U.S., May 15, 2019. REUTERS/Loren Elliott Published in Reuters on May 15th, 2019, By Loren Elliott MCALLEN, Texas (Reuters) – Reuters photos taken on Wednesday show adults and children outside the U.S. Border Patrol station for migrants in McAllen, Texas, sleeping on the ground and rigging up makeshift awnings with reflective blankets to shelter from the sun. The photos, taken from a helicopter, also show people sleeping in a shaded area of a parking lot and crowded around a military tent. The…
‘Sabotage’ attacks were carried out last week on oil-carrying vessels but many questions remain unanswered [Reuters] Published in AlJazeera on May 16th, 2019, by James Reinl Analysts warn action needs to be taken over deepening tensions between the United States and Iran in the Gulf. Iran-backed rebels attacking a Saudi oil pipeline with drones. A puzzling raid on oil tankers off the coast of the United Arab Emirates (UAE). Sabre-rattling between Washington and Tehran as US warships head to the region. Many details remain unclear about events in the Gulf over the past few days. But as facts emerge about apparent…
Fujairah port is the only Emirati terminal located on the Arabian Sea coast, bypassing the Strait of Hormuz, through which most Gulf oil exports pass. Published in arabian Business on May 15th, 2019, The ships – including two Saudi oil tankers, an Emirati ship and the Norwegian tanker Andrea Victory – were docked in the sea off the coast of Fujairah Three Western countries will be part of an investigation into mysterious “sabotage attacks” on ships in the Gulf, an Emirati official said on Tuesday. The official, who spoke to AFP on condition of anonymity, said the United States,…
GULF STATES- ECONOMICS & FINANCE UAE’s Finablr commences trading on London bourse Trading in Finablr shares commenced on the London Stock Exchange on Wednesday under the ticker ‘FIN’, following the pricing of its initial public offering at 175 pence per share. Based on the offer price, the UAE-based payments and foreign exchange solutions platform’s market capitalisation is at $1.597 million. Dr B. R. Shetty, founder, co-chairman and non-executive director, said the listing on LSE marked a momentous milestone for Finablr and the beginning of “an exciting new era” to support the company’s growth and development. “We are very confident about…
INDIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT Japan takes India to WTO over mobile phone import duties Japan has complained at the World Trade Organization about India’s duties on mobile phones, base stations and routers, and the circuit boards and other components that go into them, a WTO filing showed on Tuesday. Japan’s complaint, the first step in a legal dispute, said India had sought to foster domestic production by adjusting various taxes including customs duties, especially since it launched the “Make in India” campaign in September 2014. Some of the tariffs on goods of substantial interest to Japan were now“clearly…
ECONOMIC TIMES OF PAKISTAN PKR touches new all-time low at 147.87 in inter-bank The rupee once again dropped around 1percent and closed at a new all-time low of 147.87 to the US dollar in the inter-bank market on Friday, the central bank reported. Earlier during the day, the local currency hit a record intra-day low of 149.55 per dollar. It was the second successive day when the rupee lost ground against the greenback in a fresh round of depreciation. Cumulatively in the past two days, the local currency weakened 4.58percent, or Rs6.48, from Wednesday’s close of Rs141.39. Adviser to Prime…
PAKISTAN NEWS: PTCL targets aggressive expansion as it returns to profitability: Pakistan Telecommunication Company Limited (PTCL) is back on the road of profitability. After a period of recovery of four years, the company is now targeting expansion as its business strategy for the future. The telecom giant recorded year-on-year revenue growth in 2018 for the first time since 2014, with net profits showing a 22 % year-on-year growth. It sustained this profitability in 2019 with 95% profit growth in the first quarter of this year compared to last year. [divider style=”normal” top=”20″ bottom=”20″] Paypal is not coming to Pakistan: IT…
Forum to promote, strengthen Islamic banking and finance in cis held * Uzbekistan has great potential for Islamic Banking and Finance CIS Islamic Banking and Finance Forum was successfully concluded in Tashkent-Uzbekistan, this month. The purpose of that forum was to promote, strengthen and unite the Islamic Banking and Finance industry of the CIS countries, the theme of the forum was ’CIS as new destination for Islamic Finance’, which also addressed financial inclusion, FinTech, Sukuk, Takaful, Islamic capital markets Islamic Microfinance, potential and opportunities of Islamic finance in CIS countries. Distinguished speakers and industry experts from well serving organizations related…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. [ads1] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 10.59 11.09 2 – Week 10.70 11.20 1 – Month 10.94 11.44 3 – Month 11.70 11.95 6 – Month 11.82 12.07 9 – Month 11.93 12.43 1 – Year 12.05 12.55 2 – Year 12.50 13.00 3- Year 12.70 13.20
Pakistan is among the countries with lowest literacy rates, whereas the proportion of population acquiring higher education is much, much lower. Poverty is one reason for this scenario. Utilizing time in seeking education is seen as an opportunity cost by many. According to them, the time utilized in studying could be utilized in earning to feed the family. This argument is often raised when considering higher education. Having 23.4% of population living below poverty line in Pakistan, this concern is valid, as the opportunity cost is not only related to time, but also to money i.e. financial resources. Even though…
Uncertainty looms over IMF talks as stocks remain bearish Summary Stocks keep on falling on 6th consecutive week as reforms and IMF bailout package yet to be finalized at the end of the week. Mr. Shabbar Zaidi was appointed FBR Chairman. Mr. Asad Umar, the former Finance Minister, was made Chairman of National Assembly’s Standing Committee on Finance. Dr. Reza Baqir assumes charge as State Bank of Pakistan (SBP) Governor for a period of three years. With Dr. Hafeez Shaikh already appointed as Advisor on Finance to the PM, the batting order seems to be complete but IMF game plan…
The “Star Wars” franchise is one of the most beloved — and one of the most successful — in cinematic history. Photo: AFP Published in Geo News on May 7th, 2019, Following its merger with Fox, Disney on Tuesday sketched out its future plans for two of its most towering franchises — the Star Wars saga and Avatar. Three new as-yet-untitled Star Wars films will hit the big screen every other year just before Christmas starting in 2022, the mega-studio announced. That means that there could be a three-year wait between the December release of Star Wars: The Rise of Skywalker, the final film in the…
“Avengers: Endgame” hits its record total in just 11 days, taking in a stunning $575.8 million in China alone.—Promotional image Published in Geo News on May 6th, 2019, LOS ANGELES: Disney and Marvel’s “Avengers: Endgame” has stormed into historic territory, earning $2.19 billion worldwide in less than two weeks to become the No. 2 film of all time, industry watcher Exhibitor Relations reported Sunday. That exalted number, which includes the film’s estimated take of $145.8 million this three-day weekend in North America, pushes the superhero blockbuster past “Star Wars: The Force Awakens,” which netted $2.07 billion, and even “Titanic”…
Published in Samaa, on May 9th, 2019, England and Wales Cricket Board has set up a anti-corruption hotline which aims to tackle match fixing, Sky Sports has reported. The hotline, named as The Cricket Integrity Line, has been introduced at the start of the season in association with Crimestoppers. [ads1] The Cricket Integrity Line will allow cricketers and match officials to report suspicious activity anonymously. The anti-corruption unit of ECB feels the upcoming 100-ball format and women’s cricket is at risk of corruption.
Published in Ary Sports, on May 9th, 2019, Lucas Moura conjured the second Champions League miracle in 24 hours with a last-gasp winner to complete his hat-trick and a 3-2 win to send Tottenham Hotspur past a shattered Ajax Amsterdam into the final on away goals on Wednesday. A day after Liverpool beat Barcelona 4-0 to overturn a 3-0 first-leg deficit, Tottenham came back from the dead after Ajax had looked certain to reach their first final for 23 years. Ajax skipper Matthijs de Ligt’s fifth-minute header and a superb 35th minute effort by Hakim Ziyech put Ajax 3-0…
US President Donald Trump presents Tiger Woods with the Presidential Medal of Freedom at the White House/AFP Published in Geo, on May 7th, 2019, WASHINGTON: Tiger Woods, fresh off his epic comeback victory in the Masters, was awarded the Presidential Medal of Freedom by President Donald Trump at the White House on Monday. Presenting the golfing great with the nation´s highest honour, Trump praised Woods´ “relentless will to win, win, win.” “These qualities embody the American spirit of pushing boundaries, defying limits and always striving for greatness,” the president said. Trump congratulated Woods on “your amazing comeback and your…
The newly-appointed secretary of the Pakistan Hockey Federation (PHF) Asif Bajwa has vowed to resurrect national team in phases and offered himself for accountability from day one of his second tenure. — AFP/File Published in Dawn, on May 9th, 2019, By Anwar Zuberi KARACHI: The newly-appointed secretary of the Pakistan Hockey Federation (PHF) Asif Bajwa has vowed to resurrect national team in phases and offered himself for accountability from day one of his second tenure. “It’s a big challenge and I’ve accepted it in larger interest of the game,” Bajwa, who had served in similar role with former presidents…
Published in BBC News, on May 7th, 2019, The first ever NFL academy is being set up in London, designed to find and train athletes – some of whom might be able to make it over in the States. The academy for 16 to 18-year-olds, which opens in September, will offer qualifications including BTECs and A-levels, alongside specialist coaching in American football. Trials for its first 80 pupils are scheduled over the next three months. The NFL is trying to grow its reputation in the UK. Image copyright GETTY IMAGESImage caption The NFL hosts competitive matches in the UK,…
US Attorney General William Barr testifies before a Senate Judiciary Committee hearing [Clodagh Kilcoyne/Reuters] Published in BBC News, on May 9th, 2019, by William Roberts Vote comes just hours after President Donald Trump invoked executive privilege over Mueller’s Russia report. Washington, DC – Democrats on the House Judiciary Committee voted on Wednesday to recommend a contempt citation against US Attorney General William Barr, setting the stage for a constitutional confrontation with the White House over Special Counsel Robert Mueller’s full Russia report. The 24-16 vote by the key Judiciary Committee came along party lines with all Democrats voting in favour, and…
Construction crews installing border wall sections near Tijuana, Mexico, this year. The acting defense secretary, Patrick M. Shanahan, said the Pentagon had secured funds to begin constructing border barriers, with about half a mile built each day.CreditCreditGregory Bull/Associated Press Published in BBC News, on May 8th, 2019, By Emily Cochrane WASHINGTON — The Pentagon has redirected enough money to build 256 miles of barriers along the southwestern border, including 63 miles within six months, the acting defense secretary told lawmakers on Wednesday. The remarks by the secretary, Patrick M. Shanahan, were a major step in President Trump’s effort to build…
Published in BBC News, on May 9th, 2019, Labour can “unite our country” and heal the divisions caused by Brexit, Jeremy Corbyn will say, as he launches his European elections campaign later. Mr Corbyn will say the party backs “the option of a public vote” if a “sensible” Brexit deal cannot be agreed and there is not a general election. He will say Labour will address the “inequalities that helped fuel” the 2016 Brexit vote. The European elections take place in the UK on 23 May. The UK was due to leave the EU on 29 March, but as…