PAKISTAN NEWS: 3G/4G users cross the 66 million mark in March 2019, Jazz tops complaint charts: The number of 3G and 4G users in Pakistan reached 66.14 million by the end of March 2019, said Pakistan Telecommunication Authority (PTA). The number of mobile phone users in Pakistan reached 159.024 million by March compared to 156.92 million by February, registering an increase of 2.104 million during the period under review.Jazz’s total count for 3G users stood at 13.622 million by March compared to 13.714 million by end of February, registering a decrease of 0.0092 million. Jazz 4G user numbers jumped from…
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UIT Students Win NGIRI award Federal Minister for IT commends Tech acumen of ICT students: Federal Minister for Information Technology and Telecommunication Dr. Khalid Maqbool Siddiqui said: governments provide incentives to address market failures and agile regulation that balances risk with innovation. The new surge of innovation is the fourth industrial wave, where creativity and innovation are at a premium. Startups are the building blocks of the knowledge economy, Innovation is the prime determinant of the rise and fall of societies. He was the chief guest at the award ceremony he congratulated and commended the winners of the NGIRI Championship…
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 10.56 11.06 2 – Week 10.59 11.09 1 – Month 10.65 11.15 3 – Month 10.86 11.11 6 – Month 11.00 11.25 9 – Month 11.08 11.58 1 – Year 11.15 11.65 2 – Year 11.87 12.37 3- Year 12.05 12.55
[box type=”info” align=”” class=”” width=””]Jonathan Perraton, University of Sheffield[/box] EU leaders have agreed a short extension to Brexit until October 31 at the latest, in order to give the British parliament time to agree a deal. This date avoids the UK still being a member when the next EU budget cycle starts – but what does it mean for the “divorce bill”, the money the UK will pay the EU after its departure? The withdrawal agreement, which provides the legal framework for the UK’s exit from the European Union, includes arrangements to determine its financial settlement with the EU. The…
[box type=”info” align=”” class=”” width=””]Sarbani Chakraborty Lead, Health Systems Capacity , Roche[/box] Here is what we know today: cancer is the second leading cause of death worldwide, claiming nearly 10 million lives in 2018 alone. On top of that, population growth and ageing will contribute significantly to the rise of cancer incidence globally in the years ahead. Population ageing will lead to an estimated 63% rise in cancer cases between 2018 and 2040. In my many years working with various ministries of finance and health to tackle global health problems, I’ve noticed a sense of fatalism when it comes to cancer. The public-sector mindset…
[box type=”info” align=”” class=”” width=””]Jasmine Fledderjohann, Lancaster University; Elisabetta Aurino, Imperial College London, and Sukumar Vellakkal, Birla Institute of Technology and Science[/box] There has been an impressive expansion in school enrolment in India since the early 2000s. Despite this, India is in the midst of a “learning crisis”, with improvements in learning lagging behind increases in enrolment. Worldwide, India also has one of the highest rates of child undernutrition and household food insecurity – that is, inadequate or inconsistent access to enough safe and nutritious food to sustain a healthy life. Both of these issues have negative implications for the…
[box type=”info” align=”” class=”” width=””]Amy Jordan Delivery Lead, Centre for Cybersecurity, World Economic Forum[/box] The Internet of Things (IoT) is set to revolutionize our world and is already having a significant impact in many areas of our day-to-day lives. But what exactly do we mean by the IoT, and why is it so important that it is secure? In short, the IoT can broadly be described as any thing that is connected to the internet, but is increasingly being used to define technologies which connect to each other through sensors and networks and make things happen. The possibilities for the…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Apr 15, 2019[/box] On Saturday, the six-engine, twin-fuselage Stratolaunch jet took off from Mojave Air and Space Port before safely landing two hours later. The project was created by late Microsoft co-founder Paul Allen with the aim of air-launching small satellites into orbit. The Stratolaunch jet is highly notable for its unusual appearance as well as its gargantuan wingspan. The aircraft has now surpassed Howard Hughes’s notable H-4 Hercules, better known as the Spruce Goose, in wingspan The massive prototype flying boat has a wingspan of 320 feet and that has now been comfortably beaten by Allen’s unusual…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Apr 15, 2019[/box] A team of researchers in the United States and Australia led by Jenna Jambeck, an environmental engineer at the University of Georgia, analyzed plastic waste levels in the world’s oceans. They found that China and Indonesia are the top sources of plastic bottles, bags and other rubbish clogging up global sea lanes. Together, both nations account for more than a third of plastic detritus in global waters, according to a report in The Wall Street Journal. The original source data can be found here. In 2010, 8.8 million metric tons of mismanaged plastic waste came from…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Apr 15, 2019[/box] Millions of procrastinators in the United States may be in for a stressful start of the week because today is Tax Day, i.e. the due date for individuals in the U.S. to file their tax returns. While doing taxes is a chore that most people dread, it is usually a worthwhile exercise. According to the IRS, 111.9 million out of the 151.4 million individuals who filed their tax return in 2018 qualified for a refund, with the average refund amounting to $2,899. But what to do with all that extra cash? According to…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Apr 12, 2019[/box] Yesterday, the world’s biggest exercise in democracy got under way as Indians headed to the polls. The process to elect a new lower house in India is spread across seven phases and last six weeks. That’s primarily due to the sheer size of the contest which involves 20 states and union territories with 91 constituencies and a whopping 900 million registered voters. The length of the election therefore takes into account the huge number of officials involved, security and the need to safeguard its integrity. The election is being viewed in some quarters as…
[box type=”info” align=”” class=”” width=””]by Katharina Buchholz, Apr 11, 2019[/box] Whether it’s the Chinese manufacturing sector contracting or oils prices falling – signs of a global economic slowdown are plenty these days. The reasons are just as diverse, and include U.S.-China trade tensions, economic turmoil in countries like Argentina, Turkey and Venezuela, a weak German automobile sector and interest rates which are slowly increasing again. IMF chief economist Gita Gopinath has called the current state of the global economy a “significantly weakened global expansion” and data from her organization proves that global economies are in fact still growing, but at an increasingly lower rate. Both Europe…
Shaheen Insurance Co. Ltd. (SICL) is a flagship enterprise of Shaheen Foundation which is owned by Pakistan Air Force. We have been awarded “A” IFS rating by PACRA authenticating our financial strength and stability. It also denotes a very strong capacity of the company to meet policyholder and contract obligations. The authorized capital of company is Rs 1.00 Billion out of which Rs. 600 Million is fully paid, which is well in excess of the Minimum Capital Requirement of Rs 500 Million prescribed by the SECP for Non Life Insurance Companies. Shaheen Insurance with its Head Office in Karachi, has an…
Company Profile Atlas Insurance Limited is one of the oldest insurance companies in Pakistan. The company came into existence in 1934 with Dr. Sir Allama Muhammad Iqbal as its founders by the name of Muslim Insurance Company and was taken over by Atlas Group in 1980. The group subsequently rebranded it as Atlas Insurance Limited in 2006. Atlas Insurance started “Window Takaful Operation” in March 2016. Atlas Group is one of the leading business groups of the country with a forte in manufacturing, power generation, trading and financial services. Atlas Insurance has very sound reinsurance arrangements with the leading reinsurers…
Asia Insurance Company Limited is one of the fastest growing Insurance Companies of Pakistan. The company offers various solutions which are inclusive, economical and tailored for its valued clients. The company’s aim is to provide a steady hand, helping people to stand back onto their feet when they experience a mishap while prudently managing risks. Introduction Asia Insurance Company Limited was established in 1979 as a Public Limited Company and commenced its business in 1980. The Company is listed and quoted on Pakistan Stock Exchange. We are a composite Insurance Company which has been authorized by Securities & Exchange Commission…
Stocks score remarkable dip as volatility keep investors on their toes Summary The week ended was an eventful week. The flow of news and information both positive and negative kept the investors on their toes. The KSE-100 Index during the week stooped to its three years low of 36,579 on Wednesday . This week movement of markets on the following directions which include: the big bang revelation of IMF’s “without reforms, Pakistan’s growth rate to remain at 2.5 percent till 2024”; Foreign Minister warning “India plans to attack Pakistan anytime soon”; Government takes major step to meet FATF requirements; Finance…
Published in Geo, on Apr 11th, 2019, LONDON: With stunning scenery of Africa and some talking wildlife, Disney dropped its first full-length trailer for its realistic-looking remake of The Lion King on Wednesday, offering a glimpse of the highly anticipated film. The new movie, made with computer-generated imagery, follows the plot of the Oscar winning 1994 animation about lion cub Simba, who flees his kingdom after his villainous uncle Scar connives to take his father Mufasa’s place as king. It boasts a voice cast that includes music star Beyonce and actors Donald Glover, Chiwetel Ejiofor, Seth Rogen and James Earl Jones, who…
Published in Dawn, on Apr 10th, 2019, Hameed travelled to Nepal, Bangladesh and Pakistan to shoot his winning documentaries Filmmaker Shehzad Hameed Ahmad has made a name for himself since his documentary Flight of the Falcons won big at the New York Festival in 2016. Now, he has nabbed two awards at 2019’s New York Festival. He’s been awarded a Silver World Medal in the History and Society Category for his documentary The Rise and Fall of Mujib and the Bronze World Medal in the Community Portraits Category for *Nepal’s Child Brides*. Ahmad traveled to Nepal, Bangladesh and Pakistan to shoot these documentaries. His entries…
Published in BBC, on Apr 9th, 2019, By Mark Savage A Grammy-winning engineer has been ordered to pay Prince’s estate almost $4m (£3m) for releasing an unauthorised EP of songs by the late musician. Ian Boxill must also return all recordings he made with the star The ruling came after the engineer uploaded a song, Deliverance, to streaming services ahead of the first anniversary of Prince’s death in 2017. He planned to follow it up with a six-song EP but Prince’s estate sued, saying he had violated his contract. A judge granted a temporary restraining order against the EP’s release…
Published in Variety, on Apr 9th, 2019, By MICHAEL SCHNEIDER Fox is doubling down with this year’s Primetime Emmys telecast, enlisting two producers to handle the kudos: Don Mischer Productions and Done+Dusted. In marrying two different production shingles to collaborate on the show, Fox Entertainment alternative entertainment and specials president Rob Wade said the network was looking for “a fresh direction by bringing together the two best, most inventive and most disruptive production companies to join forces on the show.” Wade also noted that the 71st Primetime Emmy Awards reps the first Emmys for Fox Entertainment as a new, stand-alone company in the wake of Disney’s acquisition of most…
Published in BBC, on Apr 9th, 2019, Newcomer Emma Corrin has been cast as Princess Diana in the fourth season of The Crown. Netflix confirmed the decision in a press release, adding filming will begin later this year. In an accompanying quote, Corrin said she was “beyond excited” to be joining the show – a dramatised history of the British monarchy. “Princess Diana was an icon, and her effect on the world remains profound and inspiring,” she said. The Crown’s creator Peter Morgan described Corrin as a “brilliant talent” who “immediately captivated” casting directors. [ads1] The actress is set to make…
Skipper Sarfaraz Ahmed poses with the ICC World Cup Trophy in Dubai Published in Geo, on Apr 11th, 2019, The ICC Cricket World Cup trophy has landed in Pakistan for the second time on its global tour, before the mega tournament kicks off in England and Wales on May 30. Pakistan captain Sarfaraz Ahmed brought the trophy from Dubai to Islamabad, where it will be open for public viewing at the Centaurus Mall on April 12. [ads1] The trophy will then travel to Lahore, where fans can view it at the Packages Mall on April 13. It will then…
Published in Dawn, on Apr 11th, 2019, By Umaid Wasim KARACHI: The April talks have now been delayed till May, and they will only prolong the football crisis in Pakistan. The joint FIFA/AFC fact-finding mission to Pakistan, that was due to come later this month to meet with the stakeholders and decide on a way forward to extricate the Pakistan Football Federation (PFF) out of the situation it finds itself in, will now come in May, global football body FIFA said on Wednesday. “The visit was initially scheduled for April 24-25 but, at the request of PFF’s President and General Secretary,…
Published in The Nation, on Apr 11th, 2019, Xinhua The French Professional Football League (LFP) Wednesday expressed serious concerns towards the planned reforms to the UEFA Champions League, saying that it could threaten European domestic leagues. According to reports, the elite European club competition is scheduled to take its new format from 2024 onwards, featuring four groups each consisting of eight teams, rather than the current eight groups of four. Top six teams in each group will stay in the competition, also featuring the promotion-relegation system, regardless of their results in respective domestic leagues. [ads1] “The LFP’s Administrative Council…
Published in Ary, on Apr 10th, 2019, By Reuters RIO DE JANEIRO: The chances of FIFA increasing the number of teams at the 2022 World Cup in Qatar from 32 to 48 is 50/50, the president of soccer’s governing body Gianni Infantino said on Wednesday. Infantino, who is in Brazil for a meeting of the South American Football Confederation, told delegates he was working to ensure the increase for the Qatar tournament, which would mean a guaranteed two extra places for South American sides. “We are working to see if we can get 48 teams in the 2022 World Cup because more…
Published in Dawn, on Apr 10th, 2019, Virat Kohli was Wednesday named as one of Wisden’s Five Cricketers of the Year and also became the first player to win the award for leading cricketer in the world in three successive years. The India captain put to bed questions over his ability to thrive in English conditions last year, topping the Test run charts with 593 runs and two centuries even though his side lost the series 4-1. Kohli, who is top of the Test and one-day international rankings, scored 2,735 runs in all formats in 2018, outstripping nearest rival, England’s…
US and North Korean leaders met in Vietnam in February but failed to reach an agreement on denuclearisation and sanctions [File: Leah Millis/Reuters] Published in AlJazeera, on Apr 11th, 2019, by Jo Moon Jeong North Korean leader places emphasis on ‘self-sustainability’ following failure to have sanctions lifted by the US. Seoul, South Korea – North Korea needs to deliver a “telling blow” to those imposing sanctions on the country by ensuring its economy is more self-reliant, its leader Kim Jong Un said. In comments reported on Thursday by Korean Central News Agency (KCNA), hours before South Korean President Moon Jae-in meets his US counterpart Donald Trump in Washington, Kim says he would…
President of the European Council Donald Tusk Luxembourgs Prime Minister Xavier Bettel and British Prime Minister Theresa May talk at a round table meeting. Photo: Leon Neal Pool/Getty Images Published in arabian Business, on Apr 11th, 2019, By AFP If London remains in the EU after May 22, British voters will have to take part in European elections – or crash out on June 1 European leaders agreed with Britain on Thursday to delay Brexit by up to six months, saving the continent from what could have been a chaotic no-deal departure at the end of the week. The deal…
Published in CNN, on Apr 11th, 2019, By Ryan Browne and Madeline Holcombe, CNN (CNN)The US Navy is expected to drop criminal charges and instead issue censures in relation to the deadly 2017 collision between the USS Fitzgerald and a cargo ship, according to a press release from the Navy. Charges against former commanding officer Cmdr. Bryce Benson and former crew member Lt. Natalie Combs will be withdrawn and dismissed, the release said. “This decision is in the best interest of the Navy, the families of the Fitzgerald Sailors, and the procedural rights of the accused officers,” the release said. “Both officers were previously…
FILE PHOTO: A man plays gives children rocks to play with inside an enclosure, where they are being held by U.S. Customs and Border Protection (CBP), after crossing the border between Mexico and the United States illegally and turning themselves in to request asylum, in El Paso, Texas, U.S., March 29, 2019. REUTERS/Lucas Jackson/File Photo Published in Reuters, on Apr 10th, 2019, WASHINGTON (Reuters) – Acting U.S. Defense Secretary Patrick Shanahan has approved a request to identify places to potentially house up to 5,000 unaccompanied migrant children, the Pentagon said on Wednesday. In March, the Department of Health and Human…
Secretary of State Mike Pompeo has been a leader in the Trump administration’s pressure campaign against Iran.CreditCreditErin Schaff/The New York Times Published in The New York Times, on Apr 10th, 2019, By Catie Edmondson and Edward Wong WASHINGTON — Secretary of State Mike Pompeo left open the possibility on Wednesday of entering a conflict with Iran without first seeking explicit congressional approval, telling senators “there is no doubt there is a connection” between Al Qaeda and Iran. His comments came two days after the Trump administration designated Iran’s Islamic Revolutionary Guards Corps as a foreign terrorist group, and were likely to fuel concerns of American military…
GULF STATES- ECONOMICS & FINANCE UAE-based airline offers free stopover to passengers Abu Dhabi-based Etihad Airways is offering free stopover to passengers flying through the UAE capital as part of its global promotion launch plan. The carrier is offering two free nights of hotel accommodation in Abu Dhabi for all guests booking flights to and from all Etihad destinations via Abu Dhabi. Guests can choose from a range of 15 hotels located across the city including the five-star Intercontinental Abu Dhabi and Dusit Thani Abu Dhabi, as well as the Courtyard by Marriott WTC, Crowne Plaza and Radisson Blu. The…
INDIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT After ADB and RBI, now IMF cuts India’s growth forecast The International Monetary Fund (IMF) has cut India’s growth forecast for the current fiscal, following similar action by the Asian Development Bank (ADB) and the Reserve Bank of India (RBI). “In India, growth is projected to pick up to 7.3percent in 2019 (2019-20) and 7.5percent in 2020, supported by the continued recovery of investment and robust consumption amid a more expansionary stance of monetary policy and some expected impetus from fiscal policy,” IMF said in its World Economic Outlook (WEO) report released on Tuesday.…
ECONOMIC TIMES OF PAKISTAN PKR weakness behind high inflation’ In a rare admission, the adviser to prime minister on commerce has acknowledged that depreciation of the rupee has pushed up the rate of inflation in the country. Speaking to media on Thursday after inauguration of the Textile Expo, organised by the Trade Development Authority of Pakistan (TDAP), PM Adviser Abdul Razak Dawood said there was no doubt that inflation had surged due to rupee depreciation. “Inflation increased but exports did not grow at the pace they should have. Though exports increased in first two months of this calendar year, in…
PAKISTAN NEWS: Govt to implement Cyber Crime Act and DIRBS on AJ&K, Gilgit Baltistan: The government is all set to extend the implementation of Prevention of Electronic Crimes Act (PECA, 2016) and S.R.O 904(I)/2017 for Device Identification Registration and Blocking System (DIRBS) to Azad Jammu & Kashmir and Gilgit-Baltistan (GB).According to documents available, Special Communication Organization (SCO) has submitted PC-1 of the “Implementation of PECA, 2016 and S.R.O 904(I)/2017 for DIRBS (Project No II/2017-2018) AJK and GB” to the Planning Commission for consideration of Central Development Working Party (CDWP). [divider style=”normal” top=”20″ bottom=”20″] Adil Rashid appointed as CEO Wateen Telecom:…
UIT CISCO Networking Academy Launched in Karachi Usman Institute of Technology (UIT) affiliated with NED University of Engineering & Technology, Karachi, held a launching ceremony for UIT’s Cisco Networking Academy (NetAcad) to be established at its Karachi campus and CISCO’s National Conference. The guest for the event was Kashif-ul-Haq, Cisco Country GM, Marc Khayat, CISCO Technical Manager Middle East and North Africa, and other invited guests, students and NetAcad team members. With award distribution and presenters Mohammed Jinini and Faheem Anwar who were an integral part of the daylong event. He is also a certified ethical hacker and network associate…
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 10.42 10.92 2 – Week 10.50 11.00 1 – Month 10.57 11.07 3 – Month 10.87 11.12 6 – Month 11.00 11.25 9 – Month 11.08 11.58 1 – Year 11.18 11.68 2 – Year 11.92 12.42 3- Year 12.20 12.70
[box type=”info” align=”” class=”” width=””] Marco Nicoli Senior Financial Sector Specialist, World Bank Usman Ahmed Head of Global Public Policy, PayPal[/box] More people in the world have access to financial accounts and tools than ever before. With this access, new products and services are being developed to facilitate convenient usage of these accounts. Taking this a step further, healthy financial inclusion incorporates customers’ ability to balance income and expenses, build and maintain reserves, and to manage and recover from financial shocks using a range of financial tools. The most useful financial services are those that provide customers with convenience, and…
[box type=”info” align=”” class=”” width=””]Nisreen Ameen, Queen Mary University of London[/box] The number of robots around the world is increasing rapidly. And it’s said that automation will threatening more than 800m jobs worldwide by 2030. In the UK, it’s claimed robots will replace 3.6m workers by this date, which means one in five British jobs would be performed by an intelligent machine. Jobs in higher education are no exception – with recent studies showing a rapid advancement in the use of these technologies in universities. The full potential of these disruptive technologies is yet to be discovered, but their impact…
[box type=”info” align=”” class=”” width=””]Børge Brende President, World Economic Forum[/box] As the world faces the transformative economic, social and environmental challenges of Globalization 4.0, it has never been more important to invest in people. Valuing human capital not only serves to equip individuals with the knowledge and skills to respond to systemic shifts, it also empowers them to take part in creating a more equal, inclusive and sustainable world. Education is and will remain critical for promoting inclusive economic growth and providing a future of opportunity for all. But as the technologies of the Fourth Industrial Revolution create new pressures on labour markets, education…
[box type=”info” align=”” class=”” width=””]Joris Tieleman, Erasmus University Rotterdam[/box] Economic thinking governs much of our world. But the discipline’s teaching is stuck in the past. Centred around antiquated 19th-century models built on Newtonian physics, economics treats humans as atomic particles, rather than as social beings. While academic research often manages to transcend this simplicity, undergraduate education does not – and the influence of these simplified ideas is carried by graduates as they go on to work in politics, media, business and the civil service. Economists such as myself tend to speak in tightly coded jargon and mathematical models. We speak…
[box type=”info” align=”” class=”” width=””]Gavin E.R. Wilson Co-Chair, Global Future Council on Development Finance[/box] A new global framework for financing sustainable development was established in 2015. Every country on earth signed up to the Global Goals, having recognized the critical importance of attracting private capital to finance those goals under the Addis Ababa Action Agenda. Over the past four years, the development finance community has made significant progress: a number of innovative financial instruments and platforms have been created to catalyse private capital for sustainable development, and many multi-stakeholder initiatives have been set up to help address key challenges. The growth of…
[box type=”info” align=”” class=”” width=””]by Sarah Feldman, Apr 5, 2019[/box] Cybersecurity is increasingly becoming a headache for everyone from C-suite executives to regular consumers, who are both targeted by phishing scams and hackers attempting to access sensitive information. Organizations across the globe are implementing artificial intelligence applications to detect and deter security intrusions. Just under of half organizations surveyed by the Consumer Technology Association reported using this technology for that end. Unrelated research has come to similar conclusions, particularly from Technalysis Research and 451 Research. The Consumer Technology Association found that improving IT deliverables and security were not the only ways AI was being used in businesses. About a…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Apr 5, 2019[/box] When it comes to the daily consumption of vegetables across the European Union, there is a tremendous variation between member states. Ireland certainly likes its greens with 84 percent of the population reporting they ate vegetables daily. According to Eurostat, Belgium reported the same rate of consumption with Italy (80 percent), Portugal (78 percent) and Luxembourg (74 percent) following. Hungarians have the lowest rate of daily vegetable consumption in the EU at only 30 percent. [ads1] You will find more infographics at Statista
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Apr 5, 2019[/box] Ever wondered which websites are the most visited in the world? If you had to guess, you probably wouldn’t need to consult Google to know that the search engine is on the number one spot, but as the list moves down from the YouTube/Facebook level of obviousness, some of the sites on this list may surprise you – or even be complete unknowns. According to SimilarWeb, in fourth place is the Chinese search engine baidu.com, which received just over 9 billion visitors in February. You don’t have to go too far before you find porn, of…
[box type=”info” align=”” class=”” width=””]by Katharina Buchholz, Apr 5, 2019[/box] Electricity generated from wind turbines is scheduled to surpass electricity generated from hydropower and become the largest single source of renewable energy in the U.S. during this year, according to numbers from the U.S. Energy Information Administration. The shift is expected to happen despite comments from President Donald Trump that wind turbines cause cancer and were responsible for power outages when the wind wasn’t blowing. While hydro power has been the biggest provider of renewable energy in the U.S. for a long time, the sector relies mostly on large-scale projects (like the Hoover Dam). Big…
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Apr 8, 2019[/box] Brexit, or the lack thereof, is currently tearing the Conservative party apart, with the Tory chief whip Julian Smith criticising cabinet ministers for the “worst ill-discipline in history” amid regular and substantial rebellions in key Brexit votes. On the other side of the house, Labour is also suffering somewhat of an identity crisis and is still weathering a storm of anti-Semitism accusations. As a new poll by YouGov has illustrated, this situation is contributing to increasing disenchantment with the country’s two biggest parties. Of people that voted for the Conservative party in the last…
“World Health Day is marked every year on the 7th of April to highlight the significance of a healthy life style and importance of awareness regarding it. This year’s theme of World Health Day is ‘Universal health coverage: everyone, everywhere’. The theme is quite relevant especially to developing countries like Pakistan, as to a certain extent; health stands last in the list of priorities of a common person.” These views were expressed by Dr. Faisal Sultan, Chief Executive Officer, Shaukat Khanum Memorial Cancer Hospital and Research Centre (SKMCH&RC) while talking to media persons at the hospital on the occasion of…
Pvt Ltd is introducing their services in Pakistan post accomplishing a successful and remarkable decade in United Arab Emirates. It did not take them long to win their client’s trust in an international market due to their uncompromised high standards of services and impeccable quality. Considering the history, it will not be a challenge for them to bring the best practices in their home ground. They provide aid to sectors in fiscal domain and also cater to survey companies, telco, automobiles, valuations and any other industry which has thrive to improve their processes and standard of their services to remedy…
Market Review Hike in DR by 50bps, increase in fuel prices by PKR6/liter and higher than expected inflation of 9.4% for Mar’19 dented the sentiments of market participants. Resultantly, KSE100 index closed at 37,522pts witnessing a decline of 1,112pts. Market participation remained dull during the week as evident from decrease in ADT and ADTV that decreased by 7.5%WoW and 20.4%WoW, respectively. Foreign investors were net sellers, exhibiting an outflow of USD3.7mn. During the week, as per the latest numbers released by APCMA, cement dispatches decreased by 7%YoY in Mar’19 to 4.3mn MT vs 4.7mn MT SPLY in the back drop…
Published in BBC, on Apr 3rd, 2019 Walt Disney Co. is being sued over claims it underpays female employees. Andrus Anderson LLP claims corporate policies, such as basing new employees’ wages on previous salaries, have a discriminatory effect on women. The legal action, brought on behalf of two women, claims the company does not have an internal mechanism to ensure women are not paid less than male counterparts for the same work. Disney denies the allegations calling them “without merit”. According to the complaint, reported in Variety, financial analyst LaRonda Rasmussen raised a concern regarding her pay with Disney’s human resources…
Published in Dawn, on Apr 4th, 2019, By Khalid H. Khan KARACHI: Habib Bank Limited (HBL) — the title sponsor of the Pakistan Super League — has closed down its most significant sporting identity by scrapping the department’s cricket team. The closure, which had been looming on the horizon for quite a number of years – particularly after it was privatised in 2003 – came about on March 31 when the top management decided against renewing the contracts of 26 players and six support staff members, including head coach and former Pakistan paceman of the 1980s, Saleem Jaffer. According to sources,…
ICC and Interpol discuss closer working relations as part of ongoing efforts to combat corruptors in cricket Published in Geo, on Apr 3rd, 2019, The International Cricket Council (ICC) has met with Interpol to discuss closer working relations as part of its ongoing efforts to combat corruptors in the game, a press release said on Wednesday. General Manager of ICC’s Anti-Corruption Unit, Alex Marshall, was at Interpol headquarters in Lyon last week to explore how the two organisations can operate more effectively. “The ICC and Interpol are keen on working together and our meetings in Lyon last week were productive,” Marshall…
Published in Dawn, on Apr 2nd, 2019, LAHORE: Pakistan will play 11 competitive matches, including two Twenty20 fixtures, before they start their World Cup campaign against the West Indies on May 31, the Pakistan Cricket Board announced on Tuesday as it issued the schedule of the team’s tour of England. Ahead of the World Cup in England, Pakistan square off against the hosts in five One-day Internationals as well as a one-off Twenty20 International as well as three practice matches against county sides, that includes a T20, and two World Cup warm-ups against Afghanistan and Bangladesh. “The Pakistan coach [Mickey…
Real Madrid president Florentino Perez outlines his plans for the club’s stadium revamp Published in BBC, on Apr 2nd, 2019, Real Madrid president Florentino Perez says a four-year refurbishment of the Bernabeu starting this summer will create the “best stadium in the world”. Perez revealed computerised images of the plans, featuring a retractable roof, on Tuesday. The 81,000 capacity will be unchanged but Real will be able to play at the stadium while the work is carried out. Perez said the club could “remain competitive in an increasingly difficult football scenario”. The enhanced venue will cover 66,000 square metres and…
Last year, the Chinese Football Association announced plans for 10,000 kindergartens across the country [Ng Han Guan/AP] Published in AlJazeera, on Apr 2nd, 2019, Pilot programme with up to 200 football-focused pre-schools aims to cultivate interest in sport, state media reports. President Xi Jinping has vowed to make China a footballing force and is prepared to go to great lengths to do it, sending thousands of toddlers to “football-focused” kindergartens. China, which has a population of 1.4 billion but has continually underachieved in football, will start trialling the kindergartens this year, state media said on Monday. Citing the Ministry of Education, Xinhua news agency said that “each…
Jaish-e-Mohammad (JeM) founder Masood Azhar. — AFP/File Published in Dawn, on Apr 4th, 2019, By Anwar Iqbal WASHINGTON: The United States vowed on Wednesday to utilise “all available avenues” to ensure Masood Azhar was held accountable but China warned Washington that this attitude could complicate an already tense situation in South Asia. “We can confirm that we circulated a draft UNSC resolution with UK and French support,” said a US State Department spokesperson when asked how the United States planned to deal with this issue. On March 27, the United States circulated a draft resolution to the 15-nation UN Security Council (UNSC) to…
U.S. President Donald Trump speaks at the National Republican Congressional Committee Annual Spring Dinner in Washington, U.S., April 2, 2019. REUTERS/Joshua Roberts Published in Reuters, on Apr 3rd, 2019, By Richard Cowan WASHINGTON (Reuters) – The Trump administration and Republicans in the U.S. Congress, unable to fully fund a U.S.-Mexico border wall, are refocusing their immigration agenda on a proposal for simpler, faster deportations of undocumented children and families from Central America. In an effort that is sure to encounter resistance from Democrats, Republicans want to make deporting people from Guatemala, El Salvador and Honduras as swift and easy as it…
Police lined up outside the House of Commons in Parliament Square Published in BBC, on Apr 4th, 2019, Politicians and campaigners should take care not to “inflame” tensions in the UK caused by Brexit, a senior police chief has warned. The Metropolitan Police Service’s Assistant Commissioner, Martin Hewitt, said people should think carefully to avoid inciting others to violence. The warning follows increased concern about intimidation of MPs. Police have 10,000 officers ready to deploy at 24 hours’ notice as part of possible no-deal Brexit preparations. The National Police Chiefs’ Council (NPCC) said the measure was only a precaution and…
In this file photo from 2017, forces forces loyal to former general Khalifa Haftar ride in a truck in the Benina area, east of Benghazi [Reuters] Published in AlJazeera, on Apr 4th, 2019, Warning issued after renegade General Khalifa Haftar’s forces say they have moved units westward towards the capital. Libya’s internationally recognised government in Tripoli has declared a military alert after eastern forces loyal to renegade General Khalifa Haftar said they had moved towards the western part of the country. “We have issued instructions and declared a general alert to all military and security forces from military and army belonging to us to…
Tunisian President Beji Caid Essebsi (C) chairs a session of the 30th Arab League summit in the Tunisian capital Tunis on March 31, 2019. Published in Arabian Business, on Apr 1st, 2019, By Shane McGinley The League also called on Iran to stop meddling in the internal affairs of Arab countries The Arab League on Sunday reaffirmed the United Arab Emirates’ sovereignty of three disputed islands, while at the same time calling for Iran “to stop meddling in the internal affairs of Arab countries”, according to a statement by WAM, the UAE’s official news agency. “The Arab League has reaffirmed UAE’s…
GULF STATES- ECONOMICS & FINANCE Emirates NBD spurs further revival on Dubai bourse Emirates NBD shares jumped more than 6 percent on Wednesday due to gains made by re-negotiating the buyout price of Denizbank, continuing a revival in sentiment on Dubai bourse. Emirates NBD shares closed 6.05 percent higher to be at Dh11.40, and was the most-active stock in trade, contributing to 28 percent of the total value traded of Dh342 million on the bourse. The Dubai Financial Market general index closed 1.12 percent higher at 2,760.48, extending gains for a third straight session. Dubai bourse has been supported by…
INDIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT RBI cuts repo rate by 25 bps to 6 percent, 2nd in 2-month The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) will announce its resolution under the first bi-monthly monetary policy statement for 2019-20 on Thursday. Economist and analysts expect a rate cut. The central bank is also expected to take a relook at its inflation numbers, growth target and the liquidity framework. Here is what you need to watch out in the RBI monetary policy announcement and its impact your money: Most economists predict a 25 basis points (bps)…
ECONOMIC TIMES OF PAKISTAN CPEC business council kicks off 1st meeting The scope of the China-Pakistan Economic Corridor (CPEC) has been expanded with focus on industrial and agricultural cooperation, socio-economic development, trade and market access, said Minister for Planning, Development and Reform Makhdoom Khusro Bakhtiar. Co-chairing the first meeting of the CPEC Business Council on Friday, he detailed that the purpose behind the establishment of the forum was to create an interface between the government and business community besides uplifting industrial cooperation between Pakistan and China. He elaborated that through industrial cooperation, the two nations planned to address trade imbalance,…
PAKISTAN NEWS: Facebook launches Innovation Lab Platform in Pakistan: Facebook and Pakistan’s Ministry of Information Technology along with the National Technology Fund (IGNITE) launched the first Facebook Innovation Lab located in the National Incubation Centre (NIC) at the Lahore University of Management Sciences (LUMS). The launch event, held on April 3, 2019, was attended by several thought leaders from across the world who came together and debated on issues such as women and technology; the impact that VR has on social good and impactful ways to harness technology for social good. [divider style=”normal” top=”20″ bottom=”20″] Cabinet seeks legal advice from…
Uber Careem Accord will expand greater Middle East regional opportunity together Uber and Careem have reached an agreement for Uber to acquire Careem for $3.1 billion, consisting of $1.7 billion in convertible notes and $1.4 billion in cash. The acquisition of Careem is subject to applicable regulatory approvals. The transaction is expected to close in Q1 2020. Uber will acquire all of Careem’s mobility, delivery, and payments businesses across the greater Middle East region, ranging from Morocco to Pakistan, with major markets including Egypt, Jordan, Pakistan, Saudi Arabia, and the United Arab Emirates. Upon closing, Careem will become a wholly-owned…
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 10.42 10.92 2 – Week 10.50 11.00 1 – Month 10.57 11.07 3 – Month 10.87 11.12 6 – Month 11.00 11.25 9 – Month 11.08 11.58 1 – Year 11.18 11.68 2 – Year 11.92 12.42 3- Year 12.20 12.70
[box type=”info” align=”” class=”” width=””]Alain Bejjani Chief Executive Officer, Majid Al Futtaim Holding This article is part of the World Economic Forum on the Middle East and North Africa[/box] If you didn’t have the ability to see, whose voice would you trust to guide you every day? Who would accompany you on trips, read to you, help you shop? Who would adapt to your routine, pick out your smartest shirt, inform you about the best places to eat, and even remember to record your favourite TV show while you dine? No human could be so constant, so patient, or so responsive.…
[box type=”info” align=”” class=”” width=””]Ariel Kastner Lead, Geopolitical Agenda, World Economic Forum This article is part of the World Economic Forum on the Middle East and North Africa[/box] Today’s risk environment is increasingly complex and interconnected, with risks not constrained by borders or bound by industries. What takes place at the global level shapes regional risk landscapes and what brings risk to one market poses potential risk to broader economies. For this reason, the World Economic Forum took a “glocal” perspective – assessing the risk landscape from both a global and local point of view – in preparing “The Middle East…
[box type=”info” align=”” class=”” width=””]Volodymyr Bilotkach, Newcastle University[/box] Boeing’s 737 MAX fleet has been grounded by airlines around the world for the last three weeks. First flown commercially in 2017, the 737 MAX is the fourth generation of Boeing’s 737 series and it is actually not unusual for new aircraft to go through technical issues in the early years of operation. Both Airbus’ A380 airliner and Boeing’s Dreamliner were grounded in the past due to technical problems (the A380 had engine trouble in 2010 and the Dreamliner had battery issues in 2014). But the current situation is different on several…
[box type=”info” align=”” class=”” width=””]Dietmar Siersdorfer Chief Executive Officer, United Arab Emirates and Middle East, Siemens This article is part of the World Economic Forum on the Middle East and North Africa[/box] While climate change is right on our doorstep and threatening to wreak havoc, the radical global action that could make a difference is still absent. Population growth and carbon emissions remain unabated. Cities are expanding at an alarming rate, adding 50 million people per year. By 2050, almost 70% of the world’s population is expected to live in cities, up from 55% at present. It seems like an insurmountable challenge.…
[box type=”info” align=”” class=”” width=””]Hani Ashkar Senior Partner, Middle East, PwC This article is part of the World Economic Forum on the Middle East and North Africa[/box] As organisations work to harness and develop their people’s skills in order to prepare for the future, no investment is more crucial for our region than supporting women throughout their careers and driving gender diversity within the workforce. The Organisation for Economic Co-operation and Development (OECD) says the Middle East and North Africa are collectively losing an estimated $575 billion a year due to the legal and social barriers that exist around women’s access to jobs…
[box type=”info” align=”” class=”” width=””]by Sarah Feldman, Apr 1, 2019[/box] President Trump’s 2020 campaign for reelection spent over $4.5 million on Facebook and Google digital advertising alone in the first three months of 2019, according to data from Bulley Pulpit Interactive. Combing the digital advertising spending of the 15 Democratic candidates currently in the race does not come close to what Trump’s reelection campaign has already poured into Facebook and Google. Between President Trump campaigning for reelection for the entirety of his presidency to the enormous amount he has already spent, his campaign’s digital strategy and timeline is unprecedented. Most Democratic primary candidates have announced their bid within the…
[box type=”info” align=”” class=”” width=””]by Katharina Buchholz, Apr 1, 2019[/box] Apple has long been known as the world’s most profitable company, but those days are over. By preparing to be publicly listed, Saudi state oil company Saudi Aramco had to disclose company reports and was subsequentially rated by Moody’s to have earned US$111.1 billion in 2018, far surpassing competitors. In fact, the Saudi company’s net profit equaled that of Apple, Google parent company Alphabet and Exxon Mobil combined, according to Bloomberg. Previously, Saudi Aramco’s accounts had remained mostly secret since the company was nationalized in the 1970s. Since profits are known only for publicly listed…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Apr 1, 2019[/box] According to a new study by brand-valuation consulting company Brand Finance, Netflix was the fastest growing U.S. brand between 2018 and 2019. The streaming service’s brand value is estimated to have grown 105 percent to $21.2 billion. After Netflix, the next two fastest-growing brands were Taco Bell with 83.4 percent and American Express with 81.8 percent. Amazon still has the most valuable brand of any American company by far at an estimated $182 billion. [ads1] You will find more infographics at Statista
[box type=”info” align=”” class=”” width=””]by Sarah Feldman, Mar 29, 2019[/box] A lot can happen in a minute. Sixty seconds can pass in the blink of an eye for someone mindlessly scrolling through Facebook or checking their email. Combine all those actions together and we have an extraordinary view of the life of the internet in a minute. According to data compiled by Lori Lewis and Officially Chadd on Visual Capitalist, a single internet minute holds 1 million Facebook logins, 4.5 million videos watched on YouTube, 1.4 million swipes on Tinder (right or left, we can’t say for sure), and a total of 41.6 million messages…
[box type=”info” align=”” class=”” width=””]by Sarah Feldman, Apr 1, 2019[/box] NATO turns 70 years old next Thursday. The intergovernmental military alliance was formed after World War II between the United States, Canada, and Western European countries, but has grown to include much of Europe. Its initial goal was to curb Soviet influence in Europe following the end of WWII. In the present, the organization has come under fire by President Trump, who criticizes the way that the inter-military alliance is funded. President Trump has called on other member states to increase defense spending. NATO is funded by many revenue streams: indirect or national contributions,…
Market Review During the outgoing week, KSE100 index slightly increased by 117pts where it closed at 38,649pts. This increase was on account of inflow of USD2.1bn from China and flexibility shown by IMF on economic benchmarks for the bailout package. Market participation remained active during the week as evident from increase in ADT and ADTV that increased by 52.9%WoW and 10.4%WoW, respectively. Foreign investors were net buyers, exhibiting an inflow of USD0.54mn. During the week, the government announced to launch another Islamic bond of PKR200bn in May’19 to settle circular debt payment with a maturity period of 10yr and a…
Stocks moved both ways, end in positive territory with gain of 117 points Summary Some progress in IMF matters and FATF which investors are keenly looking for appeared on the economic seen along with SBP policy and growth rate outlook for the economy during the week bring some relief for the market as market moved up and down with these news in the market. There were also some political news like Nawaz Sharif getting 6-week bail and PPP chairman starting political rally ‘Caravan-i-Bhutto‘ on Monday build up political pressure in the country. The collapse across the world market also had…
Published in ARY, on Mar 27th, 2019, By Syed Omer Nadeem Having started as a student of his uncle, the legendary Ustad Nusrat Fateh Ali Khan, the owner of an astoundingly surreal voice, Ustad Rahat Fateh Ali Khan went on to garner exceptional fame for his inherited pitch and flamboyant tune. The prestigious Oxford University has recently announced the names of eight people including our national treasure, Rahat Fateh Ali Khan who will receive honorary degrees from Oxford University this year on its official website on 26th June. According to Oxford University, “Born into a family whose name has become synonymous with South…
Qays al-Sheikh Najib, 41, a Syrian actor performs a scene in the new Syrian series called “A Safe Distance”, in Damascus, Syria, March 13, 2019. REUTERS/Omar Sanadiki Published in Geo, on Mar 27th, 2019, DAMASCUS: On a long-disused film set outside Damascus featuring mud houses, palm trees, alleyways, and camels, actors in flowing robes are making a television series that the producers say is part of a gradual revival of their industry. Like most other sectors of the economy in Syria, the film and television business has been hit hard by a war that has killed half a million people,…
Published in Variety, on Mar 27th, 2019, By DAVE MCNARY Angelina Jolie is in talks to star in Marvel Studios’ “The Eternals,” in what would be Jolie’s first venture into the superhero realm. Details about the movie and what character Jolie would play are being kept under wraps. Created by Jack Kirby in 1976, the story of “The Eternals” is set millions of years ago when the cosmic beings known as the Celestials genetically experimented on humans to create super-powered individuals known as the Eternals along with the villainous Deviants. The two groups went on to battle each other throughout history. The Eternals…
“Us” now has the largest weekend for original horror movie. Photo: Reuters Published in Geo, on Mar 26th, 2019, Universal’s “Us,” the second directorial effort from Jordan Peele, pulled off a stunning debut, generating $70 million from 3,741 North American locations. That haul is enough to land it the second-best opening weekend of the year behind just Disney’s “Captain Marvel” ($153 million). The psychological thriller about a family confronted by a band of doppelgangers nearly doubled projections, which estimated a three-day total in the $38 million to $45 million range. “Us” now has the largest weekend for original horror movie,…
PM Khan turns down PCB’s new domestic plan Published in ARY, on Mar 28th, 2019 Prime Minister of Pakistan and patron of the Pakistan Cricket Board (PCB), Imran Khan has rejected the new domestic plan proposed by the board and directed to adopt Australian cricket structure. On Wednesday, PM Imran held a meeting with the task force for the enhancement in Pakistan cricket which was attended by PCB chairman Ehsan Mani, MD Waseem Khan, COO Subhan Ahmed, Director Cricket Operations Domestic Haroon Rasheed, IPC Secretary Akbar Durrani, Deputy Secretary Fayazul Haq and others. The proposal was prepared by Haroon Rasheed on cricket…
Published in Dawn, on Mar 27th, 2019, By Umaid Wasim KARACHI: Global football body FIFA intends to send a delegation to Pakistan to assess the situation of the Pakistan Football Federation (PFF) in a move that is hoped to be the first step in resolving the long-running crisis in the country’s football governing body. FIFA’s intention, after nearly four years of Pakistan football being beset by problems off the pitch, was confirmed in an email, seen by Dawn on Tuesday, sent to PFF vice-president Sardar Naveed Haider Khan by FIFA’s Head of Member Associations Governance Services Luca Nicola. Sardar, the president…
Hernandez won the World Cup in Russia last summer Published in BBC, on Mar 27th, 2019 Bayern Munich have signed Atletico Madrid defender Lucas Hernandez on a five-year deal worth a club record 80m euros (£68m). The 23-year-old, who won the 2018 World Cup with France, will join the Bundesliga leaders on 1 July. During his medical at Bayern, doctors discovered Hernandez had damaged a ligament in his right knee and he subsequently had surgery on Wednesday. “This is a really important day in my footballing career,” Hernandez said. “Bayern Munich is one of the best clubs in Europe and…
World Corporate Golf Challenge (WCGC) Pakistan returns for its fifth edition on March 30 Published in Geo, on Mar 25th, 2019 KARACHI: The Hashoo Group World Corporate Golf Challenge (WCGC) Pakistan returns for its fifth edition on March 30 and will be contested in Karachi, Islamabad and Lahore, making it the country’s biggest corporate golf event ever. After four successful editions, Loco Services, the license holder of WCGC in Pakistan, has expanded the event to Karachi, Islamabad and Lahore for regional qualifiers. The event will kick off at DHA Golf Club in Karachi on March 30. The top five teams…
Published in ARY, on Mar 25th, 2019,By Reuters BRUSSELS: EU antitrust regulators fined U.S. sportswear maker Nike 12.5 million euros (10.7 million pounds) on Monday for restricting cross-border sales of merchandising products of five European football clubs and the football federation. The European Commission said Nike’s illegal practices occurred between 2004 to 2017 and related to licensed merchandise for FC Barcelona, Manchester United, Juventus, Inter Milan, AS Roma and the French Football Federation. [ads1] The sanction came following a two-year investigation triggered by a sector inquiry into e-commerce and bans by some retailers on cross-border sales of some products.
Published in BBC, on Mar 28th, 2019, Efforts to persuade MPs to back Theresa May’s Brexit deal will continue on Thursday, a day after she promised to quit as PM if it was approved. Her pledge brought some on-side, such as ex-foreign secretary Boris Johnson. But challenges remain for the PM after Northern Ireland’s DUP, who she relies on for support, said it would not back the deal because of the Irish backstop. Meanwhile, none of eight alternative Brexit proposals brought by MPs secured backing in a series of Commons votes. The options – which included a customs union with…