Caroline Lucas and Clive Lewis with Green New Deal bill (Caroline Lucas) Published in Independent, on Mar 27th, 2019, Josh Gabbatiss Science Correspondent @josh_gabbatiss ‘This bill sets a timetable that makes government, workers and communities the drivers of change, not the inheritors of chaos’ MPs have taken the first steps towards a “Green New Deal” for the UK to accelerate efforts to cut emissions while transforming the economy and tackling inequality. Labour shadow treasury minister Clive Lewis and Green Party MP Caroline Lucas have tabled a private members’ bill that would force the government to enact a sweeping range of green measures. Their move is broadly inspired…
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Syria denounced the American move as a ‘flagrant violation’ of UN resolutions [Sergei Grits/AP] Published in AlJazeera, on Mar 28th, 2019, US widely denounced at UN Security Council after Trump signed off on Israel’s 1981 annexation of Syria’s Golan Heights. The United States came under sharp criticism from 14 other UN Security Council nations for its decision to recognise Israel’s sovereignty over the Golan Heights in violation of international law. The Security Council met on Wednesday at the request of Syria, which in a letter to the council called the American move a “flagrant violation” of UN resolutions. President Donald…
New bollard-style U.S.-Mexico border fencing is seen in Santa Teresa, New Mexico, U.S., March 5, 2019. REUTERS/Lucy Nicholson Published in Reuters, on Mar 27th, 2019, Phil Stewart MIAMI (Reuters) – Acting U.S. Defense Secretary Patrick Shanahan said on Wednesday he would push ahead with plans to transfer $1 billion to help fund President Donald Trump’s wall on the U.S. border with Mexico, even as he acknowledged a likely backlash from Congress. Democratic Representative Adam Smith, chairman of the House Armed Services Committee, said on Tuesday that the panel did not approve the proposed shift in Pentagon expenditure. Any decision to go…
Hanaa Ahmad Ali Bahr, a malnourished girl sits on her father’s lap in a shanty town in Hodeidah, Yemen (Reuters) Published in Independent, on Mar 26th, 2019, By Gemma Fox Deputy International Editor @GemmaFox__ Since start of war in Yemen, UK government has committed £770 million in aid – compared to £4.7 billion worth of arms licensed to Saudi Arabia. Five opposition parties published a letter on Monday condemning the UK’s continued arms trade with the “murderous regime” of Saudi Arabia and calling the government complicit in Yemen’s devastation. The letter, published in full by The Independent, is signed by leaders of the Labour Party, SNP, Liberal Democrats, Plaid Cymru and the Green Party’s lone MP. The UN special envoy…
GULF STATES- ECONOMICS & FINANCE Uber set to acquire Dubai-based Careem for $3.1 billion US ride-hailing giant Uber is set to announce $3.1 billion acquisition of its Dubai-based rival Careem in a cash and stock deal as early as this Tuesday, according to sources familiar with the matter. Uber will be paying $1.4 billion in cash and $1.7 billion in convertibles, according to source. The notes will be convertible into Uber shares at a price equal to $55 per share. The acquisition comes ahead of Uber’s long-awaited IPO next month, expected to value it at $120 billion. The company has…
Attention taxpayers! from April 1 Think twice before you flaunt your lavish lifestyle on social media. The taxman will be keeping an eye come April 1. The Income Tax department is all set to implement its brainchild – Project Insight – in a bid to crack down on tax evaders. Project Insight is a tax tracker built over a period of seven years at a cost of about Rs 1000 crores. It is expected to allow tax officials to develop comprehensive, 360-degree profiles of Indian taxpayers. Earlier, the I-T department used to rely largely on bank records of individuals to…
ECONOMIC TIMES OF PAKISTAN Rupee declines as country prepares for IMF deal The State Bank of Pakistan (SBP) has let the rupee depreciate by Rs0.49 to a new all-time low at Rs140.78 to the US dollar in the inter-bank market on Friday ahead of an expected agreement with the International Monetary Fund (IMF) for a long-term loan programme. With this, the rupee has cumulatively dropped Rs2.25, or 1.6percent, in the past three weeks in a fresh round of depreciation, according to the central bank. The IMF has asked Pakistan to end state control over the rupee and let the currency…
PAKISTAN NEWS: Startup for plastic waste disposal wins Rs0.5m at Dasani Discovery Challenge: Umer Abid and his team have won a prize of Rs. 0.5 million for proposing an idea using plastic waste as a road-building material in the Dasani Discovery Challenge, organized by Coca Cola.The competition was launched in November last year at the 021DISRUPT event of The Nest I/O. Overall, 73 entries were received, which were evaluated by a panel of 3 eminent judges, who shortlisted 12 entries. These shortlisted participants were then invited to show detailed presentations to the judges, based on which the final 3 winners…
UIT Students to Participate in Microsoft Imagine Cup Finals in US Usman Institute of Technology (UIT) affiliated with NED University of Engineering & Technology, Karachi, is proud to announce that students of Final Year Project, UIT have earned 1st position in Karachi and 2nd position in Sindh for their project ’vertical farming’ presented at Microsoft Imagine Cup 2019 which was recently held at Higher Education Commission (HEC), Islamabad. For the past 17 years, the Imagine Cup has been the world’s premier student technology competition. Since 2003, Microsoft has provided a global platform for students to turn their dreams into reality.…
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 10.09 10.59 2 – Week 10.13 10.63 1 – Month 10.19 10.69 3 – Month 10.51 10.76 6 – Month 10.58 10.83 9 – Month 10.73 11.23 1 – Year 10.95 11.45 2 – Year 11.62 12.12 3- Year 12.01 12.51
[box type=”info” align=”” class=”” width=””] Robert Muggah Co-founder, Igarape Institute and SecDev Group Okan Geray Strategic Planning Advisor, Smart Dubai Kari Aina Eik Secretary General, Organization for International Economic Relations[/box] Cities are the defining form of human organization in the 21st century. In 1980, just 1.7 billion people lived in cities. By 2050, the world’s urban population will swell to 6.4 billion. By the end of this century, 80-90% of humanity is expected to be city dwellers. The vast majority of tomorrow’s urban growth will occur in the medium-sized and large sprawling cities of Africa and Asia. And since many cities are urbanizing…
[box type=”info” align=”” class=”” width=””]Ibrahim Al-Zu’bi Chief Sustainability Officer, Majid Al Futtaim Holding This article is part of the World Economic Forum on the Middle East and North Africa[/box] “Leave no one behind.” This was the message championed by World Water Day this year. The plea to leave no one behind – a basic tenet of the United Nations Sustainable Development Goals (SDGs) – is a powerful call for universal inclusiveness. It envisages a world where the water-stressed areas of today do not face the same challenges in the future. Water is a precious resource for every nation, but it is particularly incumbent…
[box type=”info” align=”” class=”” width=””]Quan Nguyen, University of St Andrews[/box] Not everyone cheered for the school children striking against climate change. In the US, democratic senator Dianne Feinstein accused them of “my way or the highway” thinking. German Liberal Democrats leader Christian Lindner said that the protesters don’t yet understand “what’s technically and economically possible”, and should leave that to experts instead. The UK’s prime minister, Theresa May, criticised the strikers for “wasting lesson time”. These criticisms share a common accusation – that the striking children, while well-intentioned, are behaving counter-productively. Instead of having a rational response towards climate change,…
[box type=”info” align=”” class=”” width=””]Douglas Broom Senior Writer, Formative Content This article is part of the Young Global Leaders and Alumni Annual Summit[/box] Think about energy generation in the Middle East and you probably think of oil. But in fact, the region is at the forefront of the race to decarbonize energy production. In March, production started at one of the region’s first solar power plants linked to a storage facility. The Al Badiya plant at Al-Mafraq in Jordan combines a 23 megawatt (MW) solar farm with a 12.6 MWh storage capacity using lithium-ion batteries. It’s just the latest regional green…
[box type=”info” align=”” class=”” width=””]by Katharina Buchholz, Mar 22, 2019[/box] The number of terror victims has decreased globally, from more than 27,000 in 2016 to more than 13,000 in 2018. The number of global terror attacks decreased during the same time from more than 24,000 to more than 15,000, according to data from the 2018 Global Attack Index by security analyst IHS Markit. Less people fell victim to terrorists in countries like Syria, Iraq, Yemen and Somalia, but still the number of terrorist victims remained at a high level, with thousands of victims per country and year in some cases. The terror group that claimed the most…
[box type=”info” align=”” class=”” width=””]by Sarah Feldman, Mar 20, 2019[/box] Finland came out on top of the United Nation’s World Happiness Report. The top 3 countries are all Nordic countries, with the region yet again living up to its reputation as one of the happiest regions in the world. New Zealand and Canada are the only non-European countries to make it into the top 10 happiest countries. The U.S. and UK switched places in the ranking between the 2014 and 2016 period and the 2016 and 2018 period. Over the past two years the United States and the United Kingdom ranked 19th and 15th, respectively. The UK jumped four…
[box type=”info” align=”” class=”” width=””]by Katharina Buchholz, Mar 22, 2019[/box] Less people around the world lack access to basic drinking water service than some years ago – but several countries, especially in Africa, still have a way to go to provide their citizens with safe water access. 844 million people around the world still lack even basic access, according to the United Nations, who declared March 22 World Water Day. This is despite the fact that unsafe water, causing diseases like cholera, typhoid and hepatitis A, is a bigger cause of human death annually than disasters and conflict combined. This is according to the Emergency Event…
[box type=”info” align=”” class=”” width=””]by Katharina Buchholz, Mar 25, 2019[/box] Looking for an electrification project that really dents global oil demand, one has to look past Tesla and towards China’s massive fleet of electric buses. Close to 400,000 have been introduced to Chinese streets in a coordinated effort by the Chinese government and the result is big. When it comes to global oil demand displacement, the amount of oil that becomes obsolete through diesel bus to e-bus conversion is far bigger than the displacement amount for diesel light vehicles and even all gasoline vehicles combined. Considering that 99 percent of the global electric bus fleet is…
[box type=”info” align=”” class=”” width=””]by Sarah Feldman, Mar 25, 2019[/box] Apple is unveiling its own streaming service and news subscription platform today at company event. They have released teaser content, but there is still much to learn about the content options and prices. The tech behemoth, known for iPhones and laptops, is pivoting its business model to focus more on services. Apple may be making a wise decision by trying its hand at the streaming service market. According to Statista’s Digital Market Outlook, the streaming service market is far from saturated. The Americas have the most developed streaming market. Out of the whole population,…
Market Review During the outgoing week, KSE100 index remained flat amid lack of triggers, closing at 38,531pts. Market participation remained dull as evident from decrease in ADT which declined by 10.1%WoW, on the other hand ADTV increased by 6.6%WoW. Foreign investors were net buyers, exhibiting an inflow of USD3.1mn. During the week, ECC allowed PIA to temporarily hold up around Rs96 billion in payments the airline owe to the Civil Aviation Authority (CAA). The committee also approved a proposal of ministry of industries and production to allocate 66mmcfd additional Mari deep gas to PPIB for power generation purposes. Additionally, amid…
Lowering of Current Account deficit in February gave 225 points boost to KSE-100 index Summary According to the latest SBP data country C/A balance posted a deficit of $8.844 in july-February ,2019 compared to dollar 11,421 billion in the same period of the last fiscal year depicting a decline of 22.56 percent or dollar 2.577 billion Month-on-month basis the C/A deficit plunged by 59 percent to dollar 356 million compared to dollar 873 million in January ,2019 PM statement on Thursday :’Nation may hear a very good news soon’ Clarifying PM said Exxon Mobil has entered the final stage of…
Published in Global News, on Mar 20th, 2019, By Mae Anderson The Associated Press Disney has closed its $71 billion acquisition of Fox’s entertainment business, putting Cinderella, The Simpsons, Star Wars and Dr. Strange under one corporate roof. The deal is likely to shake up the media landscape. Among other things, it paves the way for Disney to launch its streaming service, Disney Plus, due out later this year. It will also likely lead to layoffs in the thousands, thanks to duplication in Fox and Disney film-production staff. By buying the studios behind The Simpsons and X-Men, Disney aims to better compete with technology companies such as Amazon and Netflix for…
Published in Geo, on Mar 21st, 2019, Netflix dropped the first official trailer for Stranger Things season three with the gang back in action. Released with the tagline, “One summer can change everything”, the three-minute long trailer kicks off with a homecoming party for Dustin with Motley Crue’s power ballad Home Sweet Home playing in the background. The trailer then swings into action with The Who’s Baba O’Riley playing and Eleven and Max reading magazines and going to the mall. “We’re not kids anymore,” says Mike. “I mean what did you think, we’re just gonna sit in my basement all day and play games for the…
Published in Gulf News, on Mar 20th, 2019, Hafthor ‘The Mountain’ Bjornsson went to cheer the Icelandic team Hafthor Bjornsson, who plays Gregor ‘The Mountain’ Clegane in ‘Game of Thrones’, surprised athletes at the Special Olympics World Games Abu Dhabi 2019 for the second day in a row as he gave his support to the Icelandic national team. Bjornsson, who is also currently the World’s Strongest Man and a former professional basketball player, visited the athletes at ADNEC March 18 before heading over to Dubai Police Stadium a day later to cheer on the Iceland team in the athletics competitions.…
Mahira Khan, Fawad Khan and Momina Mustehsan have made it to this year’s ‘100 most beautiful faces’ list. Photo: File Published in Geo, on Mar 20th, 2019, Actor Fawad Khan, Mahira Khan, Imran Abbas and singer-songwriter Momina Mustehsan have made it to this year’s ‘100 most beautiful faces’ list nominees by TC Candler. Published annually by The Independent Critics since 1990, the list by TC Candler, a professional film critic is widely considered to be the most internationally recognised and prestigious list of its kind. [ads1] This is Fawad and Abbas’s second time on the list. The two were…
A wheelchair user demonstrates how the specially designed robots will work Published in BBC, on Mar 20th, 2019, Sporting events rely on having an army of volunteers to help them run smoothly but Tokyo 2020 will be a little different – robots will be helping out. The Tokyo 2020 Robot Project will assist wheelchair users at the Olympic Stadium with robots carrying food and drink and providing event information. Power assisted suits will also be used at venues and athlete villages. The suits are designed to ease human workload and will be used to move heavy objects and for waste…
Published in Dawn, on Mar 20th, 2019, Reuters MUMBAI: Former Spain midfielder Xavi Hernandez says FIFA should abandon a proposal to increase the number of teams at the 2022 World Cup in Qatar to 48 from 32. The World Cup will feature 48 teams for the 2026 edition, to be co-hosted by the United States, Mexico and Canada, but FIFA President Gianni Infantino said last week increasing the number of teams for the 2022 tournament was “feasible”. Former Barcelona great Xavi, who won the World Cup with Spain in 2010 and is seeing out his career in Qatar with top-flight…
UAE Table Tennis players pose with their medals Published in Gulf News, on Mar 20th, 2019, N. D. Prashant, Staff Reporter Hamda Al Hosani finishes her campaign with a third medal — a silver in relay Abu Dhabi: The face of the UAE Special Olympic World Games, Hamda Al Hosani, ended her campaign by adding another silver to her tally in the 4×100 metres relay as the curtains came down on athletics events at the Police Officers’ Club in Dubai on Wednesday. The 30-year-old sprinter, teaming up with Reem Al Blooshi, Momena Shirdal and Fadwa Abdul Qader finished behind Chinese Taipei…
Published in Geo, on Mar 21st, 2019, LAHORE: The Pakistan Cricket Board (PCB) on Wednesday announced a new three-person selection committee chaired by former captain Urooj Mumtaz as part of its strategy to further strengthen the women’s game. Joining Mumtaz will be former players Marina Iqbal and Asmavia Iqbal as selectors. The immediate task of the committee will be to select a side for the upcoming ICC Women’s Championship fixture in South Africa this May. Moreover, the PCB has elevated Aisha Jalil to the position of team manager, while Ayesha Ashhar has been assigned the responsibility of planning and coordinating international…
Published in Ary Sports, on Mar 20th, 2019, The Managing Director of Pakistan Cricket Board (PCB) Wasim Khan on Wednesday confirmed that the board has paid the compensation of approximately $1.6 million to the Board of Control for Cricket in India (BCCI) after losing the case against them in the International Cricket Council. Earlier, the BCCI filed a compensation case of $2 million against the PCB in ICC’s Dispute Resolutions Committee as according to them they suffered financially during the case. It is pertinent to mention here that the PCB filed the $70 million compensation case against BCCI claiming that a huge…
The government estimates there are 13,500 MSSAs in the country. Details of the buyback, which could cost between NZ$100 million and NZ$200 million ($140 million), are still being finalized, Ardern said. Published in Arabian Business, on Mar 21st, 2019, New Zealand’s ban takes immediate effect to prevent stockpiling of firearms while the legislation is being drafted, New Zealand has banned military-style semi-automatics and assault rifles and will establish a nationwide buyback of the weapons in the wake of a terrorist attack on two mosques that left 50 people dead. The ban takes immediate effect to prevent stockpiling of firearms while…
Britain’s Prime Minister Theresa May makes a statement at 10 Downing Street in London [Jonathan Brady/AFP] Published in AlJazeera, on Mar 21st, 2019, by Gavin O’Toole UK PM seeks a short delay on the Brexit deadline, but all 27 EU members have to agree to any extension proposal. London, United Kingdom – On Thursday, the final European Union summit before the United Kingdom leaves the EU is taking place and tensions are at boiling point. British Prime Minister Theresa May will ask the EU’s 27 members for a short extension on the original Brexit deadline of March 29 to June 30, because politicians have so far rejected…
Published in CNN, on Mar 21st, 2019, By Jethro Mullen, CNN Hong Kong (CNN) – President Donald Trump has warned that US tariffs on $250 billion of Chinese exports are unlikely to go away anytime soon — even if the two countries reach a deal to end their trade war. “We’re not talking about removing them, we’re talking about leaving them for a substantial period of time,” Trump said Wednesday. “Because we have to make sure that if we do the deal with China that China lives by the deal because they’ve had a lot of problems living by certain deals.” The…
Tehmina Janjua, Jean-Christophe Belliard co-chair 5th round of Pakistan-EU Political Dialogue in Brussels.PHOTO: TWITTER/@MohammadFaisal Published in Tribune, on Mar 20th, 2019, The European Union (EU) acknowledged Islamabad’s role in defusing tensions with New Delhi during the fifth round of Pakistan-EU Political Dialogue held in Brussels on Wednesday. The talks were co-chaired by Foreign Secretary Tehmina Janjua and Deputy Secretary General of the European External Action Service Jean-Christophe Belliard. Janjua said the release of the captured Indian Air Force Wing Commander Abhinandan Varthaman as a gesture of peace and reactivation of hotline between Directors Generals Military Operations were steps taken to diffuse the…
Barakah nuclear plant (File picture) Published in Gulf News, on Mar 20th, 2019, UAE rebuffs Qatar’s allegations that there are safety issues with Barakah nuclear plant Abu Dhabi: The UAE has rebuffed Qatar’s allegations that there are safety issues with its Barakah nuclear power plant. “The UAE is committed to the highest standards of nuclear safety, security and non-proliferation,” Ambassador Hamad Al Kaabi, UAE Permanent Representative to the International Atomic Energy Agency (IAEA), said. The UAE’s nuclear programme adheres to IAEA’s safety standards and the best international standards. “Barakah uses the third generation of the advanced nuclear power reactors, and…
GULF STATES| ECONOMICS & FINANCE UAE is the fastest growing region: Zoho Zoho, a global provider of cloud-based business software, today announced its plans for expanding and reinforcing its presence in the UAE and GCC region. The announcement was made on the sidelines of the company’s annual user conference, Zoholics Dubai. The initiatives include launch of Zoho’s Arabic website zoho.com/ar, and alliance with PayTabs that will help businesses with payment processing. Zoho has seen over 100 percent growth in the UAE last year, and 71 percent growth in the GCC region. In the last one year, Zoho has opened an…
INDIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT Indigo airlines continues to recruit expat and ‘out-of-job’ pilots At a time when Jet Airways is facing financial difficulties, India’s budget carrier IndiGo has said that it continues to engage in recruiting expat as well as “out of job” pilots in India. William Boulter, Chief Commercial Officer of IndiGo, said on Wednesday, “We continue to engage in recruitment efforts both for expats (pilots) and for the pilots who might be out of job in India to join us.” IndiGo on Wednesday launched its flight on the Delhi-Istanbul sector and announced to use its expanding…
ECONOMICS TIMES OF PAKISTAN CPEC likely to contribute 3.5 percent to Pakistan’s GDP China’s investment of over $60 billion in Pakistan’s infrastructure and power projects under the China-Pakistan Economic Corridor (CPEC) is expected to increase Pakistan’s economic growth by around 3.5 percentage points, said Standard Chartered Bank (Pakistan) CEO Shahzad Dada on Thursday. [divider style=”normal” top=”20″ bottom=”20″] Pak eyes far east markets via Malaysia Malaysian Prime Minister Dr Mahathir Mohamad arrived in Islamabad on Thursday for a three-day official visit to Pakistan. Dr Mohamad is visiting Pakistan at the invitation of Prime Minister Imran Khan and will attend the Pakistan…
PAKISTAN NEWS: Edotco & Jazz partner to expand telecom coverage in Pakistan: Edotco Group (edotco), the leading end-to-end integrated telecommunications infrastructure services company, through its local operations edotco Pakistan Private Limited (edotco PK), has sealed a landmark long-term partnership with Jazz, the country’s leading digital communications company, with a commitment to accelerate the development of telecommunications infrastructure in the nation. [divider style=”normal” top=”20″ bottom=”20″] Smartchoice.pk raises $100,000 investment from Wadi Accelerator: The Karachi-based startup, Smartchoice, has secured an investment of $100,000 from Muscat-based Oman Technology Fund’s Wadi Accelerator. The startup managed to raise the hefty amount after graduating from a…
Water Project launched in Tharparkar In partnership with the Green Crescent Trust, the i-Care Foundation has launched the Thar Water Project to provide clean water to over 4,000 families in Tharparkar. The one crore rupees Thar Water Project will increase community resilience and reduce vulnerability to climate change. Zahid Saeed, CEO Green Crescent Trust said “Having access to water is just the tip of the iceberg. Supplying villages with clean water contributes to livelihoods, improves nutrition and limits the spread of disease.” Recurring drought in Tharparkar causes very high rates of malnutrition in children and women. Acute water shortages result…
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 10.09 10.59 2 – Week 10.13 10.63 1 – Month 10.19 10.69 3 – Month 10.51 10.76 6 – Month 10.58 10.83 9 – Month 10.73 11.23 1 – Year 10.95 11.45 2 – Year 11.62 12.12 3- Year 12.01 12.51
[box type=”info” align=”” class=”” width=””]Ioannis Lianos Professor of Global Competition Law and Public Policy, University College London Kimberley Botwright Community Lead, Global Trade and Investment SI, World Economic Forum[/box] Trust between consumers and suppliers is often a bigger issue online than it is offline. Online, there is a limit to both physical interaction and the opportunity to test the professionalism of a retailer or suppliers. According to one survey of 24,000 internet users in 24 countries, 22% said they never shop online – and of those, 49% gave lack of trust as the reason. Not unsurprisingly, developing online trust gets more complicated…
[box type=”info” align=”” class=”” width=””] Kate Pickett, University of York and Richard Wilkinson, University of York[/box] To end austerity and make the economy work better for the whole country requires transforming the tax system. It is time for the UK to have a grown-up, national conversation about tax, to gain support for a radical tax regime that will allow it to end austerity, adequately fund public services and reduce inequality. And we need tax records to be publicly available. It’s time to end the British coyness about money. We have written extensively, in our books The Spirit Level and The…
[box type=”info” align=”” class=”” width=””]Marcel Muenster Founder and Director, The Gritti Fund Paul Hokemeyer Clinical and Consulting Psychotherapist, Author This article is part of the World Economic Forum on the Middle East and North Africa[/box] I am one of 582 million people, almost 8% of the global population, who have devoted their lives to entrepreneurship. This means that for the past decade I have been in the process of either starting or running my own business. But what are the implications of this identity as an entrepreneur on my psychological well-being – and the well-being of the global community? An entrepreneur has…
[box type=”info” align=”” class=”” width=””]Winnie King, University of Bristol[/box] Italy is projected to be the first G7 nation to officially endorse China’s Belt and Road Initiative (BRI). And that’s raising the ire of both the European Union and the United States. Having re-entered a recession at the end of 2018, the eurozone’s third largest economy is welcoming China’s President Xi Jinping for a three-day state visit. While there, Italy is expected to sign a memorandum of understanding – making it the 124th nation to sign up for this geographically expansive infrastructure and investment strategy. Proposed in 2013, China’s BRI is…
[box type=”info” align=”” class=”” width=””]Simon Freakley Chief Executive Officer, AlixPartners[/box] “Genius draws no color lines.” In 1939 US Secretary of the Interior Harold Ickes said those words as he welcomed renowned contralto Marian Anderson to the steps of the Lincoln Memorial. Her performance was profound: Anderson stepped onto the stage after having been prevented from singing at Constitution Hall, a venue which allowed white performers only. Still, her genius moved thousands that day; to watch the performance now sends a chill down my spine. The story of Anderson’s performance and Ickes’s words embody something I think about often, not only…
Standard Chartered Bank (Pakistan) Limited announces the launch of Women in Tech, a global programme aimed at supporting greater diversity in gender representation within technology based entrepreneurship. Partnering with INNOVentures and the Pakistan Innovation Foundation (PIF), Standard Chartered Women in Tech programme aims to promote the economic and social development of women in Pakistan through innovation or technology led entrepreneurship. This initiative is a global programme, Women in Tech, being launched in Pakistan. The Bank will be focusing on capacity building for women-owned small enterprises. The Standard Chartered Women in Tech programme will target female-led entrepreneurial teams and provide them…
Market Review During the outgoing week, KSE100 index remained bearish amid lack of triggers and in anticipation of higher inflation ahead, thereby closing at 38,306pts, a decrease of 1.6%WoW. Market participation remained dull as evident from decrease in ADT and ADTV by 18.3%WoW and 20.6%WoW, respectively. Foreign investors were net sellers, exhibiting an outflow of USD15.6mn. During the week, as per PAMA, auto industry posted a volumetric decline of 13.1%YoY to 19.7k units, taking the cumulative sales to 162.6k units for 8MFY19, down 4.6%YoY. Furthermore, the IMF projected Pakistan’s financing gap to reach to USD19bn in the incumbent government’s tenure…
Absence of major triggers, leading to decline in index 1.7%wow Summary The stock exchange is on continuous decline since February 2019 till this week. It seems that stock investors feel unsatisfied or uncertain about economic posture of the country particularly with ambiguity created on the matter of IMF package. Various conflicting statements and facts emerging on the economic front add to the miseries of investors. Finance Minister Asad Umar while speaking to the National Assembly’s Standing Committee on Finance on Wednesday stated that gap over reform agenda for the next IMF program has considerably narrowed. Clarifying IMF stand: Exchange rate…
Published in Ary News, on Mar 12th, 2019, LOS ANGELES: Netflix said on Wednesday it was totally pulling out of the Cannes Film Festival next month after organizers banned the streaming platform’s films from competition for its refusal to release them in cinemas. Netflix Chief Content Officer Ted Sarandos told Hollywood trade publication Variety in an interview it was pointless to show at Cannes after the festival rule change. Cannes festival director Thierry Fremaux said last month that Netflix had refused to give its movies theatrical distribution in France and would therefore be banned from competition at the 12-day festival.…
Published in Geo, on Mar 12th, 2019, “Captain Marvel,” the first Marvel superhero film with a female character in top billing, soared atop North American box offices in its debut weekend, with ticket sales of $153.4 million, industry watcher Exhibitor Relations said on Monday. Added to the $302 million taken in internationally, the film´s total of $455 million for the three-day weekend makes it the biggest opening ever for a female-fronted superhero film, the Hollywood Reporter said. It is also the sixth highest global debut ever and the best domestic start for a superhero film since Marvel´s “Black Panther” opened…
Published in Ary News, on Mar 13th, 2019, Everyone’s favourite family of superheroes is back in “Incredibles 2.” Pixar has released a new full trailer for its upcoming animated superhero movie, The Incredibles 2, which shows off how the family is adjusting to their new life as superheroes and a look at the new villain. But this time Helen (voice of Holly Hunter) is in the spotlight, leaving Bob (voice of Craig T. Nelson) at home with Violet (voice of Sarah Vowell) and Dash (voice of Huck Milner) to navigate the day-to-day heroics of “normal” life. The film is…
Indian cricket team came under fire for wearing army caps earlier in the series; Usman Khawaja (R) celebrates his second century of the ODI series against India Published in Geo, on Mar 14th, 2019, Major General Asif Ghafoor, the director-general of Inter-Services Public Relations, won the internet when he mercilessly trolled the Indian cricket team following their 3-2 thrashing at the hands of Australia. For India, the recently concluded ODI series against Australia has been nothing less than a nightmare. The series came against the backdrop of India blaming Pakistan for the Pulwama attack and then crossing the Line of…
The tournament will see the 24 teams split into eight groups of three, with the eight group winners advancing to the quarter-finals. PHOTO: AFP Published in The Express Tribune, on Mar 14th, 2019, MIAMI: FIFA Council members will on Friday vote for the creation of an expanded 24-team Club World Cup, with a “pilot” edition of the new tournament to be held in 2021, according to a document seen by AFP. A 17-page report distributed to the 37 members of FIFA’s ruling body calls for the new tournament to take place between June 17 and July 4 2021, replacing the Confederations Cup…
“It was a long journey with lots of ups and downs but with my family by my side, I knew I won’t ever give up!” Published in Dawn, on Mar 13th, 2019, Karim’s supporters broke out into dance and showered her with flowers and praise at the Islamabad airport this weekend MMA athlete Anita Karim, who defeated her Indonesian opponent Gita Suharsono in One Warrior Series (OWS) in Singapore on February 28, was given a hero’s reception upon her return home this weekend. Karim, who has bagged her second international win, flew back to Pakistan this weekend and was welcomed…
Published in Samaa, on Mar 12th, 2019, Cricketers Wasim Akram, Waqar Younis and Yasir Shah will receive civil awards on Pakistan Day (March 23) this year. “Wasim and Waqar will be bestowed with the Hilal-e-Imtiaz, the second highest civilian award after Nishan-e-Pakistan, while Yasir Shah will be awarded Sitara-e-Imtiaz, the third highest civilian award, by the President of Pakistan Dr Arif Alvi on March 23,” a release by Pakistan Cricket Board (PCB) said. The PCB went on to state that the Wasim Akram and Waqar Younis are respected commentators and have played their role in enhancing the image of Pakistan…
Published in Samaa, on Mar 12th, 2019, Former Barcelona captain Carles Puyol will be arriving in Pakistan on March 16 to promote football in Pakistan. Carles Puyol said, “Karachi..I look forward to seeing you all and I am really excited to meet all my fans in Pakistan.. World Soccer Stars presents a great opportunity to celebrate the arrival of football and from what I know football is the next emerging sport in Pakistan.” Puyol’s visit to Pakistan will involve fan interaction at Dolmen Mall in Karachi where he will meet and greet fans and release special edition of VR headsets…
Published in AlJazeera, on Mar 13th, 2019, Flight ban ordered by President Trump as new evidence emerges at Ethiopia crash site along with satellite data. The United States has grounded Boeing’s 737 MAX aircraft over safety fears, days after other countries halted use of the plane after an Ethiopian Airlines crash killed all 157 people on board. The US was one of the last countries to shut down the Boeing model after two deadly downings in six months, dozens of nations had made the move soon after the Ethiopia disaster. Meanwhile, Boeing – facing its worst crisis in years – recommended a temporary suspension of…
Iranian justice Ebrahim Raisi speaks during a ceremony at the mausoleum of Ruhollah Khomeini in Tehran on February 24. Photo: Rouzbeh Fouladi/NurPhoto Published in Asia Times, on Mar 13th, 2019, By MAHMOUD PARGOO The appointment of Ebrahim Raisi to position of chief justice of Iran puts cleric on path to succession Iranian hardline cleric Ebrahim Raisi assumed two critical government posts over the past week, putting the protégé of 79-year-old Supreme Leader Ayatollah Khamenei on the path to succession for the nation’s highest office. Khamenei on March 7 elevated Raisi to the position of chief justice, demoting the current chief Sadeq Amoli Larijani. Then, on Tuesday,…
A soldier loyal to the Saudi-Emirati-backed government mans a machine gun on a vehicle passing by a mural depicting late UAE founder Sheikh Zayed bin Sultan al-Nahyan [Karim Sahib/AFP/Getty Images] Published in AlJazeera, on Mar 13th, 2019, by William Roberts But President Trump vows to veto the move as pressure intensifies on UAE-Saudi coalition to end the devastating war. Washington, DC – The US Senate voted 54 to 46 to block further involvement by the US military in the war in Yemen, where bombings by Saudi Arabia and the UAE, conducted with US weapons, are blamed for causing mass civilian deaths, starvation, and the…
Nepali people and policemen, in blue uniform, gather around the wreckage of a car burned by demonstrators during a general strike against the drafting of a new constitution called by a splinter faction of the Unified Communist Party of Nepal Maoist, in Kathmandu, Nepal, July 24, 2015. Image Credit: AP Photo/Niranjan Shrestha Published in The Diplomat, on Mar 13th, 2019, By Kamal Dev Bhattarai 13 years after the civil war ended, a splinter Maoist group is waging a new campaign of violence. On February 22, one person died and two others were seriously injured when a bomb exploded at the entrance of Ncell’s…
Representatives Lisa Blunt Rochester, right, and Katie Porter last week on Capitol Hill after a news conference about the reauthorization of the Violence Against Women Act. Sarah Silbiger/The New York Times Published in The New York Times, on Mar 13th, 2019, By Emily Cochrane WASHINGTON — The House Judiciary Committee voted along party lines on Wednesday to approve a reauthorization of the Violence Against Women Act after Democrats turned back Republican attempts to gut protections of transgender people and restrict some gun ownership. The measure will soon head to the full House, but the partisan sparring, particularly over provisions that would…
Published in Bostonglobe, on Mar 12th, 2019, By Jill Lawless and Raf Casert LONDON (AP) — With just 17 days to go, Britain’s departure from the European Union was thrown into chaos and doubt Tuesday as Parliament delivered a crushing double blow to Prime Minister Theresa May’s Brexit divorce deal and to her authority as leader. Lawmakers rejected the deal 391-242, ignoring May’s entreaties to back the agreement and end the political chaos and economic uncertainty that Brexit has unleashed. It was a narrower outcome than the historic 230-vote margin of defeat for the agreement in January, before May secured changes…
GULF STATES – ECONOMICS & FINANCE FlyDubai issues travel advisory after grounding 737 max fleet Flydubai has issued a travel advisory for its passengers, saying that some of its operations might be affected due to the grounding of its Boeing 737 Max aircraft. The airline said will be in touch with the passeners if there are changes in booking. In a post on its Facebook profile, flydubai said: “As the weekend begins, here’s what you need to know if you’re travelling with us over the next few days. We’ll be in touch with you directly if there are changes to…
INDIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT SC asks Ex-Ranbaxy promoters to apprise it The Supreme Court Thursday asked former Ranbaxy promoters Malvinder Singh and Shivinder Singh to submit a concrete plan for paying Rs 3,500 crore to Daiichi Sankyo as directed by a Singapore tribunal. The top court asked the Singh brothers to consult their accountants as also financial and legal advisors and apprise it by March 28. The Japanese firm has filed a contempt plea against the Singh brothers, saying that it was promised some shares of Fortis Healthcare by them and sought the recovery of Rs 3,500 crore…
ECONOMIC TIMES OF PAKISTAN FDI drops 23pc after completion of many CPEC projects Foreign investment in different sectors of Pakistan’s economy slowed down by 23percent to $1.62 billion in first eight months (Jul-Feb) of the current fiscal year 2018-19 following completion of several early harvest projects of the China-Pakistan Economic Corridor (CPEC). According to him, the economic slowdown and lack of clarity whether Pakistan will agree on a bailout from the International Monetary Fund (IMF) also contributed to the decline in foreign investment. Despite a notable drop in cumulative investment from China, the all-season friend still remained the largest foreign…
UIT awarded ’Most Active Student Branch’ Usman Institute of Technology (UIT) affiliated with NED University of Engineering & Technology, Karachi, was recently awarded ’The Most Active Student Branch 2017-18’ from IEEE Karachi Section at the annual general meeting held at DHA Sunset Club. The award was presented to IEEE UIT Student Branch on the basis of the influential activities and efforts to organize quality events, workshops, seminars and gathering maximum participations in other universities of Pakistan. From 2017 to 2018, the IEEE UIT Student Branch organized numerous technical, non-technical, professional, entrepreneurial conferences and seminars along with science exhibitions. These activities…
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 10.09 10.59 2 – Week 10.13 10.63 1 – Month 10.19 10.69 3 – Month 10.51 10.76 6 – Month 10.58 10.83 9 – Month 10.73 11.23 1 – Year 10.95 11.45 2 – Year 11.62 12.12 3- Year 12.01 12.51
[box type=”info” align=”” class=”” width=””]Christopher Foster, University of Manchester and Shamel Azmeh, University of Manchester[/box] At the heart of the current US trade war with China is tariffs on imports like steel, sorghum and silicon chips. But, with the growing role of data and digital technology in the world economy, a new arena of digital trade conflict is on the cards. Rapid growth in e-commerce, cloud computing, and other parts of the digital economy are driving important shifts in the global economy. Digital firms are today among the leading global companies. Meanwhile, firms in all sectors are incorporating digital tools…
[box type=”info” align=”” class=”” width=””]Ishita Barua MD & Research Scientist, University of Oslo[/box] Finland’s education system is globally renowned. For more than a decade, Finland has been one of the top performers in the Programme for International Student Assessment (PISA). But the Finns are not only outperforming others in the classroom; they are also frontrunners when it comes to change management, implementation of evidence-based measures and education in artificial intelligence (AI). These factors contribute to the image of Finland as an innovative and ambitious nation equipped to meet the new societal challenges ahead. There are undoubtedly many countries in the…
[box type=”info” align=”” class=”” width=””]Anna Gilmore, University of Bath and J. Robert Branston, University of Bath[/box] It is well known that some of the world’s biggest technical companies pay pitiful amounts of corporate tax. Now our new research has placed the tax returns of tobacco firms under the spotlight. Despite the enormous harm they cause, and the massive profits they earn, it turns out that multinational tobacco companies pay almost no corporation tax in the UK. Given the deficit in NHS funding, this should spur the government into action. Our work, supported by Cancer Research UK, drew on publicly available…
[box type=”info” align=”” class=”” width=””]Anjhula Mya Singh Bais Chair, Amnesty International Malaysia[/box] On the 9th of May 2018, my smartphone recorded a 40% increase in social media activity. As a psychologist who speaks about the causes of insomnia with clients at least once a day, I was aware that gluing my eyes to my phone’s screen meant I was not going to sleep well that night. Sleep was the last thing on my mind, however. That was the day Malaysia made history in its 14th general election. I refreshed Twitter constantly as real-time videos surfaced of Malaysians taking things into…
[box type=”info” align=”” class=”” width=””]Lena Connolly, University of Leeds and David Wall, University of Leeds[/box] Once a piece of ransomware has got hold of your valuable information, there is very little you can do to get it back other than accede to the attacker’s demands. Ransomware, a type of malware that holds a computer to ransom, has become particularly prevalent in the past few years and virtually unbreakable encryption has made it an even more powerful force. Ransomware is typically delivered by powerful botnets used to send out millions of malicious emails to randomly targeted victims. These aim to extort…
[box type=”info” align=”” class=”” width=””]by Katharina Buchholz, Mar 11, 2019[/box] Plastic bans are a contentious issue. Most often, discussions about the use of plastic straws have drawn controversy, like in the case of U.S. state California, where a law requiring full-service restaurants to ask customers if they want to be served plastic straws has recently gone into effect. According to a report by the U.N., only 14 percent of countries in the world have banned or restricted single-use plastic items so far. Most often, the use of plates, cups, cutlery and stirrers has been restricted, followed by restrictions on plastic packaging and take-out…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Mar 11, 2019[/box] The Stockholm International Peace Research Institute (SIPRI) has released new data on the volume of global arms exports between 2014 and 2018. During that period, the United States, Russia, France, Germany and China accounted for 75 percent of all arms exports. Between 2009-13 and 2014-18, the U.S. share of total global exports increased from 30 percent to 36 percent. Over half of all U.S. arms exports, 52 percent, went to countries in the Middle East. [ads1] You will find more infographics at Statista
[box type=”info” align=”” class=”” width=””]by Sarah Feldman, Mar 11, 2019[/box] The smart home market in the U.S. brought in close to 5 billion dollars in 2018. China was the only other country to gross over a billion dollars in smart home revenue. While China’s smart home market is currently about a fifth the size of the U.S.’s, there is a ton of room for growth. Statista’s DMO estimates that $1 billion is only about a single percent of what the smart home market could be for the country. While the U.S. still has a ton of room to grow as well, with a smart home penetration…
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Mar 11, 2019[/box] A new report by Sandvine has revealed the applications responsible for the most downstream mobile traffic in the world. Underlining the popularity of streaming services, YouTube accounts for the most megabytes with 37 percent – an awfully long way ahead of second-placed Facebook with 8.4 percent and Snapchap with 8.3 percent. Netflix, which accounts for the most internet traffic overall, only manages 2.4 percent when it comes to mobile. [ads1] You will find more infographics at Statista
[box type=”info” align=”” class=”” width=””]by Sarah Feldman, Mar 11, 2019[/box] Thirty years ago, Tim Berners-Lee published his landmark scientific proposal, “Information Management: A Proposal” that laid out the foundation for developing the fundamentals of the internet. Berners-Lee was a computer scientist working at CERN when he birthed the concept and proposal. After the advent of the internet thirty years ago, access has expanded rapidly. In Europe internet access stood at around 63 percent in 2009, within a decade that expanded to almost 80 percent. Less than 5 percent of the people living across Africa had access to the internet in 2009, while now almost a quarter of…
Naya Pakistan Main Naya Ghar In Pakistan, more than 50% of masses living below the poverty level who cannot even think of purchasing a plot or katcha house. The increased prices in housing sectors has indulged most of the middle income class people to live on rent. 10% of upper middle class can afford to purchase plots or house or flats at their desired place. 15% of average middle class can purchase plots or house or flats at a better place but not on a prime location. Most of them would prefer to purchase on installments so that they may…
Market Review During the outgoing week, KSE100 index remained bearish amid lack of triggers, resultantly index lost 600pts closing at 38,950pts. Market participation remained dull as evident from decrease in ADT and ADTV by 28.7%WoW and 34.8%WoW, respectively. Foreign investors were net sellers, exhibiting an outflow of USD3.5mn. During the week, as per APCMA, cement sector posted a double digit decline of 19%YoY in Feb’19 compared with SPLY where the dispatches settled at 3.3mnMT. Furthermore, the government has scrapped the restriction on the purchase of vehicle by non-filers, however, it also levied 10% FED on the vehicle with engine capacity…
KSE-100 index kept falling 589 points in the first week of March Summary After a journey of continuous declining stocks in February, the index loses 1.5% WoW during first week of March on thin volume. During the week the efforts of de-escalation of war through diplomatic channels along with visit of Saudi Foreign Minister and decline in Pak-India skirmishes along the line of control did pacify the situation. Government decisive crackdown on militant as JeM chief’s son, brother among 44 were taken into ‘protective custody’. Nonetheless, investors seem to have apprehension as news like Indian submarine stopped from entering Pakistani…
Published in Samaa, on Mar 6th, 2019, Kylie Jenner just beat Facebook’s Mark Zuckerberg to became the youngest self-made billionaire in the world as reported by Forbes. The twenty-one-year-old reached the milestone earlier than Zuckerberg, who became a billionaire when he was 23 years old. Her cosmetic line, Kylie Cosmetics, made an estimate of $508 million in sales last year. Kylie, who owns 100% of the company, said it was all because of the power of social media. Kylie’s finances, as well as her PR, are being taken care of by her mother Kris Jenner. Kylie also happens to have a huge…
Garcia Marquez’s sons, Rodrigo Garcia and Gonzalo Garcia Barcha, will serve as executive producers Published in Dawn, on Mar 6th, 2019, This will be the first time the Gabriel Garcia Marquez novel will be translated for the screen Netflix has acquired the rights to Gabriel Garcia Marquez’s One Hundred Years of Solitude, one of the most celebrated novels of the 20th century. The streaming company announced Wednesday that it will adapt the 1967 book into a Spanish language series. One Hundred Years of Solitude, which has sold an estimated 47 million copies and been translated into 46 languages, has never before been…
The iconic doll has evolved to keep up with the times. Photo: File Published in Geo, on Mar 7th, 2019, She is turning 60 this year and still doesn´t have a single wrinkle. Blonde or brunette, slender or curvy, black or white, princess or president, Barbie is a forever favorite for young girls, even if she has caused controversy over the years. The iconic doll has evolved to keep up with the times — check out her Twitter feed. And despite fierce competition in the toy industry, 58 million Barbies are sold each year in more than 150 countries. “In…
Brie Larson was named best actress at the 2016 Oscars for her role in Room Published in BBC, on Mar 7th, 2019, Captain Marvel is an “entertaining” and “robust” superhero movie but is not the game-changer Black Panther and Wonder Woman were, according to critics. The film, the first from Marvel to have a stand-alone female lead, stars Oscar-winner Brie Larson as an intergalactic warrior with untapped super powers. According to the Telegraph, the Room actress gives a “terrific” performance that is “big on girl-boss attitude”. Yet other reviewers are less impressed, calling the film “perfunctory”. “The picture is not…
Gianni Infantino, FIFA’s president, has been among the biggest proponents of an expanded World Cup. CreditCreditMarco Rosi/Getty Images Published in The New York Times, on Mar 6th, 2019, By Tariq Panja FIFA is pressing ahead with plans to expand the 2022 World Cup despite the concerns of some officials in the host nation, Qatar, whose support the project requires. The move, a politically perilous project but one heavily backed by FIFA’s president, Gianni Infantino, would grow soccer’s biggest championship to 48 teams ahead of schedule and require navigating some treacherous regional rivalries. Under the plan currently being considered, most matches in…
Published in ARY Sports, on Mar 6th, 2019, The Director International Cricket Operations of Pakistan Cricket Board (PCB) Zakir Khan revealed that the board has invited the representatives of different international cricket boards to watch Pakistan Super League (PSL) matches in Karachi. “Representatives from different cricket boards are likely to visit Karachi during the eight matches of the PSL,” he said while talking to the media at National Stadium Karachi. He said that the security expert from Australia is coming to Karachi to overview the security status in the city which is to host a high-profile event. “The series against…
Published in Samaa, on Mar 7th, 2019, Virat Kohli became the first cricketer to score at least seven centuries against three different sides in international cricket. He achieved the feat after scoring a ton against Australia in the second ODI. This was his seventh century against the Kangaroos and his 40th career century. [ads1] The Indian batting legend had achieved the feat against two teams. He had scored eight centuries against Sri Lanka and seven centuries against the West Indies. Kohli has also become the youngest player to score 40 centuries at the age of 30 years and 121…
President Putin made a speech at the opening ceremony in Siberia Published in BBC, on Mar 6th, 2019, By Jennifer Monaghan BBC Russia The Winter Student Games are not, traditionally, one of the more high-profile events in the sporting calendar. But this year’s competition in Russia is treated with a bit more fanfare than usual – at least by the host nation. The Games, the 29th edition of the biennial Winter Universiade, opened in Krasnoyarsk on Saturday and run until the 12 March. During that time, more than 3,000 competitors from 58 countries will take part in sports including ice hockey,…
Published in Geo, on Mar 6th, 2019, Pakistan’s Sana Mir on Wednesday was named to the International Cricket Council (ICC) ODI team of the year. “Alhamdolillah! Thank you @ICC and David Richardson for the opportunity, encouragement and recognition. Love playing this sport and cherish every time I represent my country globally. #ICC #ODITeamoftheyear2018,” Mir tweeted. [ads1] Mir, 33, is a former captain and one of Pakistan’s most senior women cricketers who has been representing the country since 2005. ICC ODI Team of the Year Smitri Mandhana Tasmin Beaumont Suzie Bates (Captain) Dane van Niekerk Sophie Devine Alyssa Healy (WK)…