State Department’s spokesperson Robert Palladino says US is “following that issue very closely”. — Robert Palladino’s Twitter account Published in Dawn, on Mar 7th, 2019, By Anwar Iqbal WASHINGTON: The US State Department has refused to take a position on New Delhi’s complaint against Pakistan for using F-16s in an air combat with India, saying that it does not offer public comments on bilateral agreements. “We have seen those reports and we’re following that issue very closely. I can’t confirm anything, but as a matter of policy, we don’t publicly comment on the contents of bilateral agreements… involving US defence technologies,” the…
Author: AdminPAGE
Published in AlJazeera, on Mar 6th, 2019, US-backed SDF says hundreds of ISIL soldiers captured or surrendered while fleeing armed group’s last enclave. US-backed Kurdish-led forces in northeastern Syria captured 400 ISIL fighters who were trying to escape the armed group’s last enclave in eastern Syria. A senior commander for the Syrian Democratic Forces (SDF) also said on Wednesday that hundreds more Islamic State of Iraq and the Levant (ISIL, ISIS) soldiers surrendered from the last shred of territory they control in the village of Baghouz in Deir Az Zor province. “There are a large number of fighters who are inside and do…
German Foreign Minister Heiko Maas. Published in Arabian Business, on Mar 6th, 2019, German Foreign Minister Heiko Maas says export ban had been extended by three weeks until the end of March Germany on Wednesday extended a temporary, disputed ban on arms exports to Saudi Arabia, but only until the end of the month. In October, Berlin froze sales of military equipment to countries involved in the Yemen conflict following the murder of Saudi journalist Jamal Khashoggi. It has since faced protests by EU partners because the ban, originally imposed until March 9, has impacted joint defence projects such as…
President Donald Trump meets with Danny Burch, an American who was formerly held hostage in Yemen, at the White House in Washington, March 6, 2019. Image Credit: NYT Published in Gulf News, on Mar 7th, 2019, Adam Goldman and Declan Walsh, New York Times Danny Lavone Burch was held captive by a criminal Yemeni gang Washington: An American hostage who was freed in Yemen in February after nearly 18 months in captivity was rescued in an armed raid led by the United Arab Emirates with help from the United States, according to US and Yemeni officials. The hostage, Danny Lavone Burch,…
Retired four-star Army General John Abizaid testifies before the Senate Foreign Relations Committee during his confirmation hearing to be US ambassador to Saudi Arabia on Capitol Hill in Washington, DC, March 6, 2019. [Kevin Lamarque/Reuters] Published in AlJazeera, on Mar 6th, 2019, Senators challenge Trump’s nominee for US ambassador to Saudi Arabia to take tough line with kingdom on human rights. Senators challenged US President Donald Trump’s nominee to the post of United States ambassador to Saudi Arabia to take a tough line with the kingdom on human rights and other abuses. Senate Foreign Relations Committee Chairman Jim Risch warned while Saudi Arabia was a…
GULF STATES – ECONOMICS & FINANCE UAE offers platform to harness skills The UAE is known to set trends and today the modern boardrooms offer a unique platform where the businesses offer the diversity mix of the youth and wise leadership from reputed business experts. Focusing on ‘Boardroom Leadership for an Agile and Innovative Corporate Strategy’ at the IOD conference, Mohammed Al Hashemi, Chairman, UAE Financial Markets and Director- Global Market and Treasury Emirates NBD, UAE, said: “With the UAE being one of the leading countries in innovation, there will undoubtedly be a high amount of pressure on businesses, an…
INDIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT IL&FS board asks SFIO, ED To Probe 14 IFIN Directors With fresh revelations of fraud, the government-appointed Board of Infrastructure Leasing & Financial Services Ltd (IL&FS) has approached the Serious Fraud Investigation Office (SFIO) and Enforcement Directorate (ED) to initiate criminal proceedings against 14 former directors of IL&FS Financial Services Ltd (IFIN). The action comes almost a week after the forensic audit report by accounting firm Grant Thornton LLP. “The report by Grant Thornton LLP clearly establishes money laundering. The Board has already informed the Ministry of Corporate Affairs, SFIO and the ED to…
ECONOMIC TIMES OF PAKISTAN Over 3 mn consumers receive inflated bills Public gas utilities have charged inflated bills from 3.2 million consumers because of a change in consumer slabs introduced by the government of Pakistan Tehreek-e-Insaf (PTI) and manipulation of gas pressure factor in the case of domestic consumers. The application of high gas pressure factor has forced many honest consumers, who pay their bills regularly, to bear an additional cost of gas consumption. According to sources, 50percent of domestic consumers have been overcharged by applying the high pressure factor illegally. Normally, the high gas pressure factor is imposed on…
PAKISTAN NEWS: Pakistan has the 33rd cheapest mobile data in the world: Pakistan is ranked 33rd in the global index for cheapest mobile data rates. This has been revealed by Cable.co.uk after analyzing 6,313 mobile data plans in 230 countries between October 23 and November 28, 2018. The analysis has taken into account the average cost per 1 GB and ranked the countries based on it. As per the ranking, Pakistan stands 33rd among countries having the cheapest mobile data plans. Its average cost per 1 GB is Rs. 258.73, i.e., $ 1.85. [divider style=”normal” top=”20″ bottom=”20″] PTA to record…
Shell Tameer celebrates International Women’s day at SOSTTI; mentoring women led start-ups To mark this year’s International Women’s Day, Shell Tameer in collaboration with SOSTTI hosted mentoring circles for 14 female led micro start-ups that graduated from SoS Technical Training Institute Karachi last year. The mentors being highly seasoned professionals; Rehana Alam, a renowned humanitarian associated with Behbud Association; Humaira Bachal, Shell Tameer Alumni and CEO of Roshan Pakistan and founder of Dream Foundation an inspirational educationist breaking barriers; and Shahnila Adnan, who runs a successful home business, shared invaluable advice and counselling to the female entrepreneurs on their new…
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 10.10 10.60 2 – Week 10.14 10.64 1 – Month 10.19 10.69 3 – Month 10.48 10.73 6 – Month 10.60 10.85 9 – Month 10.76 11.26 1 – Year 10.95 11.45 2 – Year 11.60 12.10 3- Year 11.98 12.48
[box type=”info” align=”” class=”” width=””]Edina Harbinja,Aston University and Vasileios Karagiannopoulos, University of Portsmouth[/box] Have you recently considered deleting your Facebook account, boycotting Amazon or trying to find an alternative to Google? You wouldn’t be alone. The tech giants are invading our privacy, misusing our data, strangling economic growth and helping governments spy on us. Yet because these few companies own so many of the internet’s key services, it seems there is little people can do to avoid having to interact with them if they want to stay online. However, 30 years after the world wide web was created, a third generation of…
[box type=”info” align=”” class=”” width=””]Kate Whiting Senior Writer, Formative Content[/box] Around the world, the achievements of women are being celebrated on International Women’s Day, which began back in 1911. But the day also highlights the work that remains to be done in order to achieve gender parity. The theme for this year is #BalanceforBetter – encapsulating the idea that a gender-balanced world benefits everyone, economically and socially. And it’s up to everyone, men and women, to make it happen. As the following statistics show, there are huge differences in the types of inequality faced by women in different parts of the world -…
[box type=”info” align=”” class=”” width=””]Calvin Jones, Cardiff University[/box] English towns with struggling economies will receive £1.6 billion of funding over six years. The UK government announced the creation of the “stronger towns fund” – the lion’s share of which will be distributed to towns in Northern England and the Midlands. Critics have focused on the fund’s assumed purpose as a “bribe” to gain Labour MPs’ votes for Prime Minister Theresa May’s deal to leave the EU, and on the inadequate size of the pot. Leaving the first criticism aside, the second certainly has some merit: £1.6 billion sounds a large…
[box type=”info” align=”” class=”” width=””]Tim Berners-Lee Director, W3C (World Wide Web Consortium)[/box] Today, 30 years on from my original proposal for an information management system, half the world is online. It’s a moment to celebrate how far we’ve come, but also an opportunity to reflect on how far we have yet to go. The web has become a public square, a library, a doctor’s office, a shop, a school, a design studio, an office, a cinema, a bank – and so much more. Of course with every new feature, every new website, the divide between those who are online and those…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Mar 4, 2019[/box] When Apple introduced the Apple Watch in September 2014, it had impossible shoes to fill. After all, the company’s first foray into the nascent wearables market was supposed to emulate the iPhone’s unprecedented success, a task that the iPad had failed to accomplish a couple of years earlier. In hindsight however, the Apple Watch must be considered a blockbuster success, even if at a considerably smaller scale than the iPhone. When the iPhone was released in 2007, it became synonymous with an entirely new class of devices, paving the way for touchscreen phones to…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Mar 5, 2019[/box] Across the United States, 93.3 million people were obese in 2015-2016 while 36.6 percent of the country’s adults consumed fast food on a given day according to the Centers for Disease Control and Prevention. A new study published in the Journal of the Academy of Nutrition and Dietetics has now found that the size of calorie account of fast food has been increasing steadily since the mid-1980s. The researchers studied 1,787 mains, sides and desserts at 10 popular fast food chains from 1986 to 2016. The restaurants involved were Arby’s, Burger King, Carl’s Jr., Dairy Queen, Hardee’s,…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Mar 5, 2019[/box] Air pollution will cost the global economy $225 billion over the next year and take an estimated seven million lives. That’s according to the IQAir AirVisual 2018 World Air Quality Report which was compiled together with Greenpeace. The research found that 15 of the world’s 20 worst-polluted cities are in India with Gurugram in first place. Situated 30 kilometres southwest of the Indian capital, Gurugram’s average level of PM 2.5 pollution in 2018 stood at 135.8, just ahead of second-placed Ghaziabad’s 135.2. Faisalabad in Pakistan was the third-worst city worldwide for air pollution last year with average…
[box type=”info” align=”” class=”” width=””]by Katharina Buchholz, Mar 4, 2019[/box] Earth is a lot greener than it was 20 years ago. What sounds like a reason to celebrate should be taken with a grain of salt. Leafy green areas that have been added to the Earth’s surface since 2000 and were catalogued by NASA satellite MODIS appeared because of reforestation as well as agricultural activity. Especially in China and India increased human activity has caused more areas to be covered with plants. China increased its green area by 17.8 percent between 2000 and 2017, while India added 11.1 percent. The EU, which…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Mar 4, 2019[/box] DSL makes up 38 percent of fixed broadband subscriptions across OECD countries but high-speed fiber is continuing to make steady progress. The OECD has reported that the share of fiber connections has now grown to 25 percent, up from 12 percent eight years ago. Ireland saw the highest growth in fiber connections over the past year with growth of 218 percent with Belgium (71 percent) and Australia following (70 percent). There are considerable differences in the share of fiber broadband connections between countries and South Korea came first with 78 percent in Q2 2018,…
Fauji Fertilizer Company Limited (FFC) is the leading fertilizer manufacturing & marketing company of the country, with more than 4 million tons per annum sales volume and widespread dealers’ network across the country. FFC was incorporated in 1978 as a joint venture between Fauji Foundation, a charitable trust in Pakistan, and Haldor Topsoe of Denmark to set up a urea production facility. FFC manufactures & markets its own Sona Urea (Prilled) and associated company FFBL products Sona Urea (Granular) & Sona DAP. In order to promote balanced fertilizer use and contribute in national food security, FFC is also marketing imported…
PAGE brief talks with Mr. Rashid Hashmi – CEO, Muhammad Hashim Tajir Surma over their remarkable products serving human beings worldwide. [box type=”shadow” align=”” class=”” width=””]Muhammad Rashid Hashmi, belongs to the respectable and closely knitted legendary Hashmi Family. He is a renowned business executive in the economic arena of Pakistan. He got his secondary education from the Happy Home School, Karachi and graduated from National College, Karachi. He joined the Hamdard Tibb College, Karachi to fulfill his ambitions in Tibb, which is an Eastern Medicine System of Herbal remedies. Many government entities have acknowledged Mr. Rashid Hashmi and M/s. Mohammad…
Market Review Border tensions between Pakistan and India remained on the forefront during the week resulting in a volatility for the benchmark index. The market recovered slightly on the last day of the week as Pakistan agreed to release the Indian pilot to de-escalate tensions. The benchmark index closed at 39,539pts, down 1.2%WoW. Market participation increased as evident from decrease in ADT and ADTV by 51.9%WoW and 33.1%WoW, respectively. Foreign investors were net sellers, exhibiting an outflow of USD1.3mn. During the week, the government increased the prices of petroleum products, where prices of petrol and HSD were increased by PKR2.5/litre…
Warmongering push KSE-100 index down 1.2 wow Summary The gravity of Indo-Pak tension started to build up when on last Sunday Prime Minister Imran Khan gave a speech urging India’s Prime Minister to give peace a chance. The Indo-Pak tension was building up since Pulwama attack in India on Feb.14. It reached to its climax this week. The KSE-100 Index was negative since last two days of the previous week. The exchange of airstrikes this week between India and Pakistan on Line of Control (LoC) worsened the situation and had its impact on KSE-100 Index, which lost 477 points during…
Best Actor nominee for “Bohemian Rhapsody” Rami Malek accepts the award for Best Actor during the 91st Annual Academy Awards at the Dolby Theatre in Hollywood, California on February 24, 2019. Photo AFP Published in Geo, on Feb 25th, 2019, HOLLYWOOD: History was made on Sunday night when Rami Malek became the first Arab-American to take home to Oscar for Best Actor. Malek transformed his look, gait and accent to portray iconic Queen frontman Freddie Mercury in “Bohemian Rhapsody” — an all-in performance that has catapulted him onto Hollywood’s A-list and into Oscar history. Malek, 37, on Sunday rode his…
Published in msn, on Feb 27th, 2019, Justin Kroll With production expected to start this spring, MGM and Eon are getting closer to deciding who will be joining Daniel Craig in his next outing as Agent 007 in the 25th James Bond movie. Producers are continuing their search for two female roles — one a new MI6 agent and the other an accomplice similar to Olga Kurylenko’s character in “Quantum of Solace” — the main villain, and an American CIA agent similar to Jeffrey Wright’s in past installments. Sources indicate that Billy Magnussen is the top choice to play the CIA operative that crosses paths with…
Official poster of X Men: Dark Phoenix. Photo: Courtesy www.foxmovies.com Published in Samaa, on Feb 28th, 2019, The new trailer for X Men Dark Phoenix is out, but some fans are not so pleased as the trailer seemingly has a major spoiler about a character’s death. We knew someone would die as the first trailer showcased a funeral, but this new trailer appears to confirm the suspicion that Sophie Turner’s character – Jean Grey-Summer – will kill Jennifer Lawrence’s Mystique. The first trailer for Dark Phoenix set up the conflict. Jean Grey, isolated but growing in power compared to the rest of the X-Men,…
A poster of the highly-anticipated live-action remake has also been released. Photo: Disney Published in Geo, on Feb 25th, 2019, Disney has released a stunning new trailer of its highly-anticipated live-action remake of “The Lion King”. The trailer released during the Oscars’ commercial break begins with the savannah sunrise and with Rafiki declaring, “It’s time” and we are instantly taken back to our childhood. The visual effects make the introduction to Simba even more nostalgic. [ads1] The voice cast includes James Earl Jones, returning to his original role as Mufasa from the original film, along with Donald Glover as…
Several political leaders called for a boycott over the issue [Pascal Guyot/AFP] Published in AlJazeera, on Feb 27th, 2019, ‘Unprecedented wave of insults and threats’ forces French retailer to stop introduction of runner’s hijab in France. French sports goods chain Decathlon has cancelled plans to sell a sports version of the Muslim headscarf in France after politicians, including a minister, threatened a boycott. Xavier Rivoire, Decathlon’s head of communications, told the RTL broadcaster on Tuesday that the decision was taken “to ensure the safety and security of our own teams”. The company had earlier written on Twitter that it had suffered an “unprecedented wave of insults and…
Published in Ary Sports, on Feb 26th, 2019, By Ali Hassan The glittering trophy of the Pakistan Super League (PSL) on Tuesday was handed over to Pakistan Cricket Board’s (PCB) courier partners TCS who will bring it to Karachi where the much-awaited final is all set to take place on March 17. The trophy will be unveiled at National Stadium on March 16 by the captains of the two finalists. PCB’s marketing head Sohaib Sheikh in a presser said that crazy fans in Pakistan can’t wait to see their grounds filled with international stars. “Excitement is at its peak. They [Fans] are waiting to…
Sanath Jayasuriya has been banned from all cricket for two years after breaching two counts of the International Cricket Council’s anti-corruption code. Photo: File Published in Geo, on Feb 27th, 2019, Sri Lanka batting great Sanath Jayasuriya has been banned from all cricket for two years after breaching two counts of the International Cricket Council’s anti-corruption code, the world governing body said on Tuesday. The ICC said the former captain and chairman of selectors had refused to cooperate with any investigation conducted by its anti-corruption unit (ACU) under Article 2.4.6 of the anti-corruption code. It added in a statement that…
Fernando Alonso (centre) watched pre-season testing with McLaren driver Carlos Sainz (right) on Tuesday Published in BBC, on Feb 27th, 2019, By Andrew Benson Chief F1 writer Two-time champion Fernando Alonso has become an ambassador for McLaren, a role that will include him testing their Formula 1 car this year. The team said Alonso would “help advise the team’s drivers and engineers and drive at selected tests to support the development” of the 2019 and 2020 cars. The Spaniard, 37, left F1 last year and is competing at the Indianapolis 500 this season for a McLaren team. Alonso said the role was “a true honour”…
Published in Dawn, on Feb 27th, 2019, Mohammad Yaqoob LAHORE: Majority of the departments have opposed the new domestic plan under which the Pakistan Cricket Board (PCB) wants to confine the departments’ role to just sponsor the regions instead of fielding their own teams in the domestic cricket season, Dawn learnt on authority. The PCB Task Force headed by retired Lt Gen Muzammil Hussain held the meeting with the representatives of the different departments at the Wapda House here on Tuesday to get their feedback on the newly proposed domestic system. Sources said the departments rejected the idea of confining…
The International Olympic Committee has also told individual sports federations not to award events to India until it can guarantee visas for all competitors. — Geo News FILE Published in Geo, on Feb 25th, 2019, NEW DELHI: An Indian snooker tournament has been indefinitely postponed in a row over visas for Pakistani athletes, following a suicide bomb attack New Delhi has blamed on Pakistan. The 10 Reds Asian Tour event, scheduled to be held in Bangalore next month, looks likely to be cancelled after organisers said they could not guarantee Pakistani competitors would be allowed into the country. It follows…
Published in The Express Tribune, on Feb 28th, 2019, By Rizwan Ghilzai / Khalid Mehmood ISLAMABAD: The country’s top civil and military leadership took heads of all parliamentary parties into confidence over steps taken to counter Indian aggression during a specially-convened meeting at the Parliament House on Wednesday. The parliamentarians were briefed by Foreign Minister Shah Mehmood Qureshi and DG Inter-Services Public Relations (ISPR) Major General Asif Ghafoor. Army chief General Qamar Javed Bajwa also interacted with the forum. According to sources, he received a warm welcome at the meeting for giving a befitting response to India for violating the Pakistani airspace. The forum unanimously expressed…
Published in BBC, on Feb 28th, 2019, Jeremy Corbyn says Labour will back another EU referendum after his alternative Brexit plan was again defeated in the Commons. But the Labour leader said he will also continue to push for “other available options” including a general election. John McDonnell said the party would table an amendment for a referendum when the “meaningful vote” on Theresa May’s deal returns to Parliament. The shadow chancellor also told ITV’s Peston show he would vote for remain. It came as MPs voted to endorse Theresa May’s Brexit strategy – but only after she made a…
Pakistan’s Prime Minister Imran Khan. Published in Gulf News, on Feb 27th, 2019, Ashfaq Ahmed, UAE Deputy Editor It is imperative that we act with wisdom, says Pakistani Prime Minister Dubai: Pakistan Prime Minister Imran Khan has renewed his offer to hold talks with India saying that better sense should prevail in the wake of escalating tension on borders of the neighbouring nuclear-armed nation. “I will say it again to you (India) that better sense should prevail and we should talk,” Imran said in his televised address to the nation on Wednesday after the Pakistan Air Force (PAF) jets shot down…
Published in Reuters, on Feb 27th, 2019, (Reuters) – The prototypes for President Donald Trump’s contest for a border wall near San Diego, California, were torn down on Wednesday, to make way for a new section of actual border fencing. To the president’s supporters, the eight 30-foot-high (9-meter) models were a symbol of his commitment to build a wall along the length of the U.S. Mexico border to enhance national security. To opponents, they were a waste of taxpayer money and an affront to Mexico and immigrants. “Since the test and evaluation of these prototype models is complete, they have…
Published in Dawn, on Feb 27th, 2019, Pakistan Air Force (PAF) on Wednesday — a day after India violated the Line of Control (LoC) — undertook strikes across the LoC from Pakistani airspace. “The sole purpose of this action was to demonstrate our right, will and capability for self defence. We do not wish to escalate, but are fully prepared if forced into that paradigm,” the Ministry of Foreign Affairs(MoFA) said in a statement. Maj Gen Asif Ghafoor, the director general (DG) of Inter-Services Public Relations (ISPR), confirmed the development via a tweet, adding that “in response to PAF strikes this…
Agha is a former leader of Taliban’s Jaish-e-Muslimeen wing, which fought against Afghan forces after the US toppled the Taliban government in 2001 [Sorin Furcoi/Al Jazeera] Published in AlJazeera, on Feb 27th, 2019, by Shereena Qazi Syed Mohammad Akbar Agha accuses President Ghani’s government of ‘sabotaging’ talks with attacks that kill civilians. Kabul, Afghanistan – A return to peace is not possible in Afghanistan if its government continues to conduct air strikes which have resulted in countless civilian casualties, a former Taliban official has said. In a press conference in Kabul on Wednesday, Syed Mohammad Akbar Agha, who is the current leader of Rah-e-Nejat (High Council…
GULF STATES| ECONOMICS & FINANCE Dubai’s private sector continues to foster innovation Companies across Dubai are increasing their efforts to foster innovation, reflected by the 4.7 percent improvement in the innovation score of Dubai’s private sector over the 2017-2018 period, new analysis conducted by Dubai Chamber of Commerce and Industry has revealed. Released on the occasion of UAE Innovation Month, the analysis showed Dubai’s private sector innovation score rising to 64.4 percent in 2018, marking a 13 percent improvement compared to 2015. Based on the feedback of 1,600 Dubai-based companies, the analysis identified several areas where Dubai’s private sector saw…
INDIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT SBI has found fraud worth Rs 7,951.3 crore in Apr-Dec: RTI reply The State Bank Group has said as much as Rs 7,951.29 crore involving 1,885 cases of fraudulent activities have come to light during the first nine months of the current fiscal year. In an RTI reply, the nation’s largest lender said, the first quarter reported 669 cases of fraudulent activities amounting to Rs 723.06 crore, the second quarter saw 660 cases involving a Rs 4,832.42 crore and the third quarter reported 556 cases amounting to Rs 2,395.81-crore. According to RTI activist Chandrashekhar…
ECONOMIC TIMES OF PAKISTAN Revenue shortfall widens to pkr 228 bn in Jul-Feb fy19 The Federal Board of Revenue (FBR) has reported a record interim shortfall of Rs228 billion in revenue collection in first eight months (Jul-Feb) of current fiscal year 2018-19. The shortfall came despite FBR’s drastic measures to enhance tax collection. The revenue authority failed to meet its tax collection target for February with shortfall in the month at Rs38 billion. The amount was nearly twice the shortfall of Rs22 billion in the same month of previous fiscal year. According to FBR sources, the interim statistics revealed that…
PAKISTAN NEWS: Redmi Note 7 Pro launched with a better chipset: As if the previous Redmi Note phone wasn’t good enough, Xiaomi has launched another, better version. The Redmi Note 7 Pro features a more powerful chipset and a better camera setup at a slightly higher price. Redmi Note 7 Pro features the exact same build as its non-pro sibling, with Gorilla Glass 5 on both the front and back and plastic in-between. There’s a beautiful looking gradient design on the back, and the Redmi logo at the bottom. [divider style=”normal” top=”20″ bottom=”20″] PTCL remains most widespread and easily accessible…
Zameen Expo 2019-Lahore concludes successfully Zameen Expo 2019-Lahore, hosted by Zameen.com, the biggest name in Pakistan’s real estate, concluded successfully. Numerous families streamed into the venue on the second day, and lauded Zameen.com for its efforts. Speaking at the occasion, Zameen.com CEO said that he was grateful to Allah for the successful conclusion of the event. Our team has worked around the clock for days on end to make this event possible, and is also ready for Zameen Expo 2019 – Islamabad, happening on the 9th and 10th of March at the Pak-China Friendship Centre. He added that the organisation…
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 10.13 10.63 2 – Week 10.15 10.65 1 – Month 10.19 10.69 3 – Month 10.48 10.73 6 – Month 10.59 10.84 9 – Month 10.75 11.25 1 – Year 10.95 11.45 2 – Year 11.58 12.08 3- Year 11.97 12.47
[box type=”info” align=”” class=”” width=””]Ceri Parker Commissioning Editor, Agenda, World Economic Forum[/box] It’s one of the biggest threats to the global economy, and it could finally be near a resolution: the trade war between China and the United States. President Trump has said that the two economic superpowers are close to a deal to end a lingering dispute that has cast a shadow on the outlook for the entire economy. Between them, the nations account for 40% of global GDP. Fearful that China’s rise threatens livelihoods in the United States and anxious to protect the intellectual property of American companies, President Trump slapped tariffs…
[box type=”info” align=”” class=”” width=””]Edward Yates, University of Sheffield[/box] Conditions for young people in the UK are bleak. Young people are more likely to be unemployed than all-age workers, and are more likely to be in low-paid jobs when employed. National minimum wage laws allow lawful discrimination against young people as they mean a young worker can be paid less than those over the age of 24 for doing the same job. Young people have worse pension opportunities than previous generations and suffer from a housing market characterised by high rents and purchase costs. They are also paying record levels…
[box type=”info” align=”” class=”” width=””]Ephrat Livni Writer, Quartz This article is published in collaboration with Quartz[/box] You’ve got problems. Perhaps more than you know. Apart from all the usual woes—work, relationships, money, time—the civilized life may also be causing you psychological trauma. Disconnection from nature can be bad for our mental health. But there was no name for this particular malaise until 2000, when Australian sustainability professor Glenn Albrecht coined the term psychoterratica, creating the beginning of a vocabulary to discuss the relationship between mental health and environment. Since then, he’s thought up a whole lexicon. In May, Albrecht’s book, Earth Emotions: New…
[box type=”info” align=”” class=”” width=””]Geraldine Healy, Queen Mary University of London and Mostak Ahamed, University of Sussex[/box] Despite huge amounts of publicity and government efforts to tackle the the gender pay gap, it remains a serious issue. It affects women in most industries: from artists and academics to journalists and doctors. We’ve researched some of the particular problems facing the UK’s finance industry when it comes to the gender pay gap. Across finance as a whole, women earn 27.2% less than men an hour, on average. When it comes to bonuses the gap is nearly 50%. Our research shows how…
[box type=”info” align=”” class=”” width=””]Nicholas Davis Head of Society and Innovation, Member of the Executive Committee, World Economic Forum Edward Santow Commissioner for Human Rights, Australian Human Rights Commission[/box] We’ve all had something like it happen: one minute you’re searching for a present suitable for a two-year-old; the next, ads for nappies and prams are on every site you visit. It’s unsettling. No one feels comfortable about bots following us surreptitiously as we roam around the web, when companies use what they learn from our online behaviour to promote products and services in creepy ways. But could concerns around privacy…
[box type=”info” align=”” class=”” width=””]by Katharina Buchholz, Feb 25, 2019[/box] Ahead of the U.S.-North Korea summit in the Vietnamese city of Hanoi, the North Korean government has released a statement announcing a shortfall of 1.4 million tons of food for 2019. The government citied adverse weather as well as United Nations sanctions for the lack of food for the country’s citizens. As a result, food rations in the dictatorship notorious for its strict government control and isolation from the international community are expected to almost be cut in half. North Korea has long been dependent on imports to meet its citizens’ nutritional…
[box type=”info” align=”” class=”” width=””]by Katharina Buchholz, Feb 22, 2019[/box] In this year’s Consumer Reports car survey, Subaru was named the brand with the highest overall score, coming in at 81 of 100 points. The Japanese car maker was also the only manufacturer to score in the top 5 that isn’t a luxury brand. Consumer Reports, which is run by the American Consumers Union, publishes the in-depth report on new cars every year, considering road test scores, a survey of satisfaction and reliability among almost 34,000 owners as well as crash test and safety scores. Genesis, Hyundai’s luxury brand, came in second…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Feb 25, 2019[/box] When the mobile industry is showing off the latest advancements in smartphone technology at the Mobile World Congress in Barcelona this week, foldable screens, sophisticated camera systems and of course 5G will doubtlessly steal most of the headlines. And yet, as smartphone penetration is nearing saturation levels in many developed countries, it’s easy to forget that billions of people don’t have a smartphone at all, let alone one that folds into a tablet or has five camera lenses. According to a report published by GSMA, the global industry group representing mobile operators and other industry players,…
Market Review Despite KSA’s announcement of package worth USD21.0bn, the outgoing week remained negative on the back of growing tensions between India and Pakistan. Consequently, the benchmark index closed in red at 40,016pts, during the week, exhibiting a decline of 1.2%WoW. Market participation remained lackluster as evident from decrease in ADT and ADTV by 22.1%WoW and 13.6%WoW, respectively. Foreign investors remained net buyers, exhibiting an inflow of USD3.5mn. Oil import bill increased by 10%YoY to USD8.7bn during 7MFY19 as opposed to USD7.9bn during the SPLY on the back of LNG imports that soared by 75%YoY. Additionally, textile exports increased by…
Geo-Political concern downplayed Saudi investment flow & corporate results: KSE-100 index lose 471 points Summary The brief visit of Saudi Crown Prince to Pakistan on Sunday is considered as highly successful by all with far reaching investment decisions worth more than $20 billion and signing of 7 MoUs. But the suicide bombing in occupied Kashmir Pulwama area of India on February 14 had its aftermath on the sentiments of investors this week, as they feared in escalation of hostilities between the two countries. India had scaled up tariffs on imports from Pakistan and trying to isolate Pakistan at different forums…
Netflix has announced the cancellation of Marvel’s “Jessica Jones” (R) and The Punisher (L), bringing an end to all five of Marvel and Netflix’s live-action TV series. Photo: Netflix Published in Geo, on Feb 19th, 2019, The Defenders are done! Netflix on Monday announced the cancellation of Marvel’s Jessica Jones and The Punisher, bringing an end to all five of Marvel and Netflix’s live-action TV series. According to Deadline, there will be no season three of Jon Bernthal led vigilante series The Punisher, while the completed third season of the Krysten Ritter starrer Jessica Jones will still appear on the streaming site but it will be its…
Published in Samaa, on Feb 21st, 2019, Sharmeen Obaid Chinoy’s documentary Student Athlete has been nominated for the NAMIC Vision Awards 2019. NAMIC has been supporting programmes based on multi-cultural issues and empowers organisations that highlight the lives of people of colour. The documentary reveals the exploitative nature of sports colleges through the eyes of four young men at different stages of their careers. It shows how institutions such as the NCAA and NFL generate billions of dollars every year, and provide no compensation to the students. It was co-directed by Trish Dalton. [ads1] Related: Sharmeen Obaid Chinoy becomes first…
Sting operation revealed Mika Singh, Sunny Leone, Vivek Oberoi and others were willing to post favourable messages. Photo: File Published in Geo, on Feb 21st, 2019, Indian investigative website Cobrapost has alleged that several Bollywood celebrities took money to promote political narratives of particular parties on social media. In most cases, the party was the Bharatiya Janata Party (BJP), Cobrapost claimed. The website stated that it conducted an investigation, “Operation Karaoke”, posing as employees of a fictitious public relations agency and using aliases. The sting operation revealed that playback singers Abhijeet Bhattacharya, Kailash Kher, Mika Singh and Baba Sehgal, actors…
Published in Variety, on Feb 20th, 2019, By PATRICK FRATER Netflix has bought rights to “The Wandering Earth,“ the smash hit film pitched as China’s first mainstream sci-fi movie. The movie was the sleeper hit of Chinese New Year. It opened in fourth position on Feb. 5 but climbed to the top spot and has not yet relinquished it. After 14 days in theaters, the epic has raked in about RMB4.07 billion ($603 million) and likely has weeks of its theatrical run left to go. Adapted from a 2000 novella of the same name by the godfather of Chinese sci-fi, Liu Cixin, the…
DUNEDIN: New Zealand cricketers pose with the trophy as they celebrate their series triumph following the third One-day International against Bangladesh at the University Oval on Wednesday.—AFP Published in Dawn, on Feb 21st, 2019, DUNEDIN: Tim Southee snared a six-wicket haul and Ross Taylor tore up the record books as New Zealand dominated Bangladesh to seal a 3-0 series whitewash with an 88-run victory in the final One-day International here at the University Oval on Wednesday. Sabbir Rahman’s gallant maiden ODI century saved Bangladesh from total humiliation after they lost three wickets with just two runs on the board chasing…
The International Shooting Sport Federation has warned India of consequences if Pakistanis are blocked from taking part in a World Cup event in New Delhi Published in Geo, on Feb 21st, 2019, NEW DELHI: India could face sanctions after two Pakistani athletes failed to get visas to attend a World Cup event in New Delhi, the sport’s world body said Wednesday, amid tensions over an attack in Indian occupied Kashmir. New Delhi has without any proof accused Islamabad of supporting the perpetrators of last week’s attack that left at least 40 Indian soldiers dead. Pakistan has denied any involvement. Two…
DIFFICULT OPPONENT: The rout, which featured seven breaks of the Osaka serve, took barely an hour, sending Mladenovic into a Wednesday contest with Carla Suarez Navarro. PHOTO: AFP Published in The Express Tribune, on Feb 20th, 2019, DUBAI: Naomi Osaka stumbled badly in her first match since winning the Australian Open and sacking her coach as the world number one went down in a flurry of errors to exit the Dubai Championships on Tuesday. Dubai-based Frenchwoman Kristina Mladenovic claimed a 6-3, 6-3 victory to reach the third round as Osaka made 25 unforced errors. The rout, which featured seven breaks of the…
The window will open for 48 hours, allowing teams to negotiate with each other subject to players’ own consent. Photo: Twitter Published in Geo, on Feb 19th, 2019, By Faizan Lakhani SHARJAH: Pakistan Super League (PSL) will have a mid-season trade window once all teams have played four games each. The mid-season trade window is likely to commence after all the teams have completed four matches, a reliable source confirmed to Geo. “The two-day window will be open for teams once they have complete four games each for mid-season transfer.” The source further said, “Only those players can be traded who haven’t played a…
Debby Susanto won bronze at the 2018 Asian Games [Marcelo del Pozo/Reuters] Published in AlJazeera, on Feb 19th, 2019, Ambassador to Switzerland says the world’s most populous Muslim-majority nation has a ‘strong foundation’ to host games. Indonesia, the world’s most populous Muslim nation, has submitted a bid to host the 2032 Olympics following the success of last year’s Asian Games. State news agency Antara reported on Tuesday that Indonesia’s ambassador to Switzerland submitted a letter to the International Olympic Committee (IOC) last week from President Joko Widodo. “The IOC has acknowledged Indonesia’s capabilities during the Asian Games and Asian Paragames of 2018,”…
Doha, Qatar. Photo: Wikimedia Commons Published in Asia Times, on Feb 17th, 2019, By ASIA TIMES STAFF Gulf state, which has become isolated due to regional dispute, plans to achieve its goal by 2022 As it strives to develop new markets amid regional political tensions, Qatar wants to build a $20 billion sports industry by 2022, an official said Sunday. Yousuf Mohamed al-Jaida, chief executive of the Qatar Financial Centre (QFC), said he expected the target to be reached within three years. The QFC is a government-backed business body that aims to attract domestic and international investment into Qatar. Jaida said…
Published in CNN, on Feb 21st, 2019, By Caroline Kelly and Ashley Killough, CNN (CNN) – Speaker of the House Nancy Pelosi urged members of Congress on Wednesday to back a resolution halting the national emergency declared by President Donald Trump to fund a border wall. Pelosi’s call to action comes as the White House plows ahead on transferring federal funds not contingent on Trump’s declaration toward building a wall along the southern border, despite already facing several lawsuits. “I write to invite all Members of Congress to cosponsor Congressman Joaquin Castro’s privileged resolution … to terminate this emergency declaration using the termination mechanism within the National…
Heidi Allen (centre) is hopeful more MPs will join the breakaway Published in BBC, on Feb 21st, 2019, Labour and the Conservatives could face more resignations, with members of the new Independent Group saying they expect more MPs to join them. Ex-Tory MP Heidi Allen told ITV’s Peston programme “a third” of Tory MPs were fed up with the party’s direction. Labour MP Ian Austin told the Express and Star he would think “long and hard” about his future in the party. It comes as Labour leader Jeremy Corbyn said defecting MPs should “resign and put themselves up for election”. Meanwhile, former…
An asylum seeker from Honduras was the first person returned to Mexico from the United States under a new administration policy that forces some asylum seekers to wait in Mexico while their claims are processed. Published in BBC, on Feb 21st, 2019, By Catherine E. Shoichet and Geneva Sands, CNN (CNN) – A coalition of immigrant advocacy groups is asking a federal judge for a restraining order that would block the Trump administration from forcing asylum seekers to stay in Mexico while their cases make their way through US immigration courts. In a motion filed Wednesday, advocates argued that the administration’s new policy — which officials started…
The Supreme Court has previously ruled that the Eighth Amendment, which bars “excessive fines,” limits the ability of the federal government to seize property, and has now ruled that it applies to states, as well. CreditCreditErin Schaff/The New York Times Published in The New York Times, on Feb 20th, 2019, By Adam Liptak and Shaila Dewan WASHINGTON — The Supreme Court ruled on Wednesday that the Constitution places limits on the ability of states and localities to take and keep cash, cars, houses and other private property used to commit crimes. The practice, known as civil forfeiture, is a popular way to raise…
Saudi Arabian warplanes, supplied by the West, have been striking Yemen since 2015 ( AFP/Getty Images ) Published in Independent, on Feb 20th, 2019, By Jon Stone Europe Correspondent Germany halted sales after murder of journalist and in wake of evidence of war crimes being carried out in Yemen The Foreign Secretary has written to the German government to ask it to start selling arms to Saudi Arabia again, after the country halted exports due to concerns about human rights. Jeremy Hunt said he was concerned about the impact the recently imposed embargo would have on arms manufacturers’ balance sheets. Germany has joined other EU…
GULF STATES| ECONOMICS & FINANCE Majid Al Futtaim to launch ‘carrefour business’ Majid Al Futtaim has announced its plans to launch ‘Carrefour Business’ later in this year, as a business-to-business offering for the hotels, restaurants and catering (Horeca) industry. Carrefour Business is a one-stop shop service that will provide customers with a wide variety of high-quality food and non-food solutions to cover their needs. The service will also cater to small groceries, wholesalers, airlines and other public and private institutions. Clients that have signed up for the service can choose from more than 4,000 products, ranging from fresh and dry…
INDIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT Procter & gamble announces newest commitment to gender equality Procter & Gamble (P&G) announced a new commitment around a number of initiatives that will promote gender equality across the Indian Subcontinent, Middle East and Africa (IMEA) region. The declaration, which was made by P&G’s IMEA and APAC President, Magesvaran Suranjan during the company’s inaugural #WeSeeEqual Summit in partnership with UN Women in Mumbai, is part of the company’s citizenship focus on being a Force for Good and Force for Growth. “Gender equality is a core belief at P&G. Creating a world free of bias…
ECONOMIC TIMES OF PAKISTAN Cabinet shoots down ‘sin tax’ proposal The federal cabinet on Thursday rejected a proposal to impose Sin Tax on consumption of tobacco and beverages due to legal and administrative hitches in enforcement of the levy. The Ministry of National Health Services tabled the draft bill, seeking permission to impose Rs10 federal health levy on a 20-stick cigarettes pack and Re1 on 250 milliliter sugar sweetened beverage. The federal health levy has been originally called a “Sin Tax”. The cabinet approved an eleven-member board of Sarmaya-e-Pakistan Limited (SPL) company that has been setup to reform dozens of…
Pakistani startup makes it to Google’s launchpad accelerator: Google has announced its fifth accelerator batch, and it includes a Pakistan startup as well. This is the first time that any Pakistani startup has been selected for Google’s Launchpad accelerator program. Another country that made to the list for the first time is Bangladesh. Here is the list of 10 startups that belong to the Asia-Pacific region. [divider style=”normal” top=”20″ bottom=”20″] Ship oil through Pak Railways and save billions: Minister for Railways, Sheikh Rasheed, has come up with another plan to boost the department’s revenue. The minister has asked the government…
PSO reports profit after tax of Rs. 4.2 billion in 1H FY19 The Board of Management (BOM) of Pakistan State Oil Company Limited (PSOCL) has reviewed the performance of the Company for first half of the financial year 2019 (1HFY19) in its meeting held on February 16, 2019. The challenging economic trend in the country fueled by rupee devaluation and adverse balance of payment position resulted in negative growth of 27% in the cumulative liquid fuel market with negative contribution of white oil and black oil of 12% and 60% respectively. Black oil volumes have been impacted significantly due to…
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 10.17 10.67 2 – Week 10.21 10.71 1 – Month 10.24 10.74 3 – Month 10.51 10.76 6 – Month 10.61 10.86 9 – Month 10.76 11.26 1 – Year 10.93 11.43 2 – Year 11.59 12.09 3- Year 11.97 12.47
[box type=”info” align=”” class=”” width=””]Loizos Heracleous, Warwick Business School, University of Warwick[/box] Yet another airline has collapsed – this time British operation Flybmi, costing almost 400 jobs as hundreds of flights were cancelled at short notice. It is the latest in a string of recent European airline failures, including Air Berlin, Alitalia, Monarch, Primera, Azur and Cobalt. This is despite years of good growth in worldwide air passenger demand, including in Europe. So why are so many airlines going out of business? Aviation is an unattractive industry from an investor point of view at the best of times, notwithstanding the…
[box type=”info” align=”” class=”” width=””]Blair Glencorse Founder and Executive Director, The Accountability Lab Friday Odeh Country Director, Accountability Lab Nigeria[/box] A deluge of corruption-related news and scandals has recently rocked the world. The President of Guatemala has expelled a key United Nations anti-corruption body from the country. Romania’s anti-corruption chief has stepped down just as the country is taking over the Presidency of the EU. Japan’s Olympic Chief is facing allegations of bribery over Tokyo’s bid to host the 2020 games, and the Danske Bank money laundering probe continues to deepen. This is not filling global youth with hope for the future. Young people continue to name corruption…
[box type=”info” align=”” class=”” width=””]Carmen Raluca Stoian, University of Kent[/box] Ever since the EU referendum of 2016, well-known companies have announced decisions to relocate outside of the UK. Electronic giant Panasonic has gone to Amsterdam, where Sony will soon follow. Ferry company P&O will shift registration of its vessels to Cyprus, while the engineering firm Dyson is moving its corporate headquarters to Singapore. There is nothing new about big businesses relocating their corporate headquarters. Back in 2003 the United Nations Conference on Trade and Development was hailing the arrival of a world market for such possibilities. And even iconic American…
[box type=”info” align=”” class=”” width=””]Nigel Topping Chief Executive Officer, We Mean Business Coalition[/box] Disruption can mean many different things to different people. To established business leaders, it can mean a threat to market share or an opportunity to adapt and retain a leading position into the future. To innovators and start-ups, it can be a ticket to creating new markets or re-writing the rules of an old one. However, there’s one growing disruptive trend that unites all companies, and can help unlock innovation and create the industries of the future. The need to act on climate change is the greatest…
[box type=”info” align=”” class=”” width=””]Patrick McGurk, Queen Mary University of London and Richard Meredith, University of Greenwich[/box] With Honda confirming the closure of its car plant in Swindon, many are focused on who and what’s to blame – and whether or not it’s the fault of Brexit. But the people of Swindon will be more concerned about the 3,500 factory jobs that will be lost and the further 3,500 jobs in the area that could be affected. Local stakeholders from business and government have responded with shock and sympathy. The line from business leaders was: “Employers, government and local authorities…
The craze of Twenty20 these days are developing very fast as this new short format of cricket has taking fast popularity since the 12 years of its creation within the long history of the game of cricket famous for Tests and One days in the world. The advancement of the T20 game despite entertainment for viewers and grooming local talent has magnetism for investors and company’s promotion of brands. Some of cricket playing nations are taking revenue by holding Twenty20 leagues and inviting business community to take benefits from it. In this regard Pakistan has even joined the bandwagon by…
An Interview with Zahid Mubarik SHRM-SCP, GPHR, SPHRi Question: how diversity & inclusion is important for sustainability of organization? On 25 September 2015, 193 countries of the United Nations adopted the “2030 Agenda containing 17 Sustainable Development Goals (SDGs) with 169 targets. It expands the integration of environmental, social, and economic policies and raises the bar on the role that all types and sizes of organizations in various sectors should play in supporting the global sustainable development agenda. It mentions and supports workplace D&I and describes People, Planet, Prosperity, Peace, and Partnership as its focus. Organizations today are dedicated to…
In Pakistan, quality regulations are getting stronger and stricter, resulting in better medicines. While increasing quality is a good thing for everyone, companies need to lean on more than just high-quality products to earn the trust of the consumers. As the quality gap closes, consumers, doctors and pharmacists in Pakistan will look for something more – an added value or additional service. To remain relevant, companies must continuously improve medicines and add services to meet these expectations. We sat with Mr. Syed Anis Ahmed, General Manager of Abbott’s pharmaceutical business in Pakistan, to discuss the importance of quality and trust.…
KSE-100 Index keeps declining in february, shedding 1% wow Summary The stock market which started the month of February with KSE-100 Index at 41,113 kept on declining and stood at 40,487 on 15th February. There is an acceleration of positive and negative triggers in the market, both on economic as well as on political front, baffling the minds of stock investors. The meeting of the Prime Minister with the Managing Director of International Monetary Fund (IMF) on Sunday created an impression of deal with IMF which was dashed by Finance Minister later with the statement: “Meeting of PM, Imran Khan…
A scene from Cindellala, Week 1 Winner (People’s Choice) at Short+Sweet Theatre 2019 Image Credit: Supplied Published in Gulf News, on Feb 13th, 2019, By Jyoti Kalsi Special to Weekend Review Seventh edition of Short+Sweet will run until March 9 at The Junction in Alserkal Avenue More than 200 emerging and experienced UAE-based writers, directors and actors of all ages and nationalities are participating in the seventh edition of the Short+Sweet Dubai Theatre Festival, which began on January 25 and will run until March 9 at The Junction in Alserkal Avenue. Spread across seven weekends, the event which is owned and…
Published in Samaa, on Feb 13th, 2019, Victoria Beckham has become the latest designer to ban exotic skins from her collections. The 44-year-old’s company issued a statement on Monday revealing her eponymous fashion line would no longer feature exotic skins in a bid to “reflect the wishes” of its customers. Despite never using fur in its designs, Beckham’s luxury label currently sells python shoes on its website and has previously touted snakeskin bags. “As a business, we have been looking to action the use of more ethically sourced products that have the less environmental impact for some time,” a Victoria…
Published in BBC, on Feb 11th, 2019, Disney granted everyone’s wish on Sunday when they finally gave a first look at Will Smith’s blue Genie in the new live action version of Aladdin. Unfortunately many fans were not impressed with what they saw and were quick to say so on social media. “It turns out that Will Smith’s Aladdin Genie will haunt my nightmares,” tweeted one user. Another added: “I’ll never sleep again and it’s all Will Smith’s fault.” The trailer for director Guy Ritchie’s latest offering was revealed midway through the Grammy Awards, and sees Aladdin approaching the Cave of Wonders in…