[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Sep 17, 2018[/box] Today sees the release of a new study conducted by ICM for British Future into attitudes in the UK to immigration. Among the wide range of insights garnered from the 3,667 respondents is an intriguing look at the difference in views held by those living in more populated areas such as large cities and those living in rural areas. Overall, when asked if immigration has had a positive or negative impact on the UK, the average respondent gave a score of 5.72 on a scale of 1 to 10 (10 being the most positive). Those…
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[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Sep 17, 2018[/box] The World Economic Forum has just published its report “The Future of Jobs 2018” on the future of the world of work. According to the foundation, 52% of current job tasks will be performed by robots from 2025. The study was conducted in 20 countries around the world and from companies operating in 12 different sectors. Our chart shows the ratio of man-machine work time in 2018 as well as the forecast for 2022 for a number of work tasks. For each task, the share of the machine hours is predicted to…
Market Review The benchmark index witnessed a volatile week where KSE100 decreased to 41,050pts, posting a marginal decline of 0.5%WoW. The market remained bearish on account of pending decisions regarding the gas and power tariff hikes. However, impressive recovery was observed on Thursday as investor sentiments improved on the back of expected decisions of the cabinet meeting to address the worsening macroeconomic indicators. During the week, market participation remained lackluster as evident from ADT and ADTV that declined by 10%WoW and 1%WoW, respectively. Foreign individuals remained net seller in this week as well, exhibiting an outflow of USD18.6mn. During the…
Stocks on see-saw trading, close week on bearish note Summary The economic decisions that kept on pouring throughout the week by the new government had impact on the stock exchange trading as investors were keenly looking for it: ECC urea import decision entails big subsidy; Government to effect changes in Finance Act; China reaffirms commitment to CPEC; Government’s rejection on tax rate hike, are the circulating reports. The economic uncertainty prevailed as no clear cut stand or plan was revealed on major economic issues like IMF bailout, changes in the budget proposal or recovery of looted wealth. No clear notification…
Published in Samaa Tv, Sep 13th, 2018 Afghanistan’s Charlie Chaplin says he has witnessed suicide attacks, explosions and threats from hardline Islamic militant groups, but is determined to waddle and bumble to fulfill the primary goal of his life. “It is very simple, I want to give Afghans a reason to smile,” said Karim Asir, a stand-up comedian who performs across the capital Kabul in Chaplin’s trademark over sized shoes, baggy pants, cane and black bowler hat.Asir, 25, said Chaplin impersonators are found all over the world helping people ignore grief and making them laugh, and he does the…
Published in TheNews, Sep 12th, 2018 With Indus Blues being a cinematic based on the forgotten music of Pakistan, as it’s tagline quotes, this Jawad Sharif’s project has made it to the nominations for Best Documentary Film award at international film festival this year. Having taken on-reel his appreciation for Pakistani folk, award winning filmmaker Sharif has given a one-on-one spotlight to the struggles of veteran yet unrecognized musicians, their music wands and the distinct culture that goes fading through the undercover. With his journey from the Karakoram Mountains to the coastline of the Arabian Sea, his attempt at…
Published in Geo, Sep 12th, 2018 Marvel has disclosed that the studio is interested in making productions centered on Indian content in the near future. Speaking to the Indian press, Stephen Wacker (VP, Creative Development, Marvel), said that it plans to create more characters ‘with a real toehold in Indian culture’, adding that it will try for authenticity that can go as far as finding Indian talent. “We want to find a way to create characters that have a home in this world so we can bring Indian culture to the core North American Marvel fan,” he said. “Let…
Published in MSN, Sep 12th, 2018 Sofia Vergara may be the highest-paid actress on TV, but it wasn’t easy getting there. “It’s very rewarding,” the Modern Family star tells Health magazine for its October issue, on stands Friday. “I’m 46 and I’ve been working for almost 30 years. So being able to do something that I love in the entertainment business, and on top of that being able to make money? It’s been a wonderful experience. It has not been easy.” “It’s been a lot of work, but it makes you feel rewarded for all the sacrifices — like missing my son’s birthday here and there and…
Published in Samaa Tv, Sep 12th, 2018, By Muhammad Qaisar Kamran Siddiqui ‘Rani’, a Pakistani short film starring transgender model and activist Kami Sid, has been selected as a finalist at the world renowned NBC Universal Short Film Festival. The short film will be screened at a red carpet event in Los Angeles on October 24. Rani is one of six films selected from over 3,500 entries. Kami Sid, who plays Rani in the short film, said that hard work always pays off and that she was happy over the selection of her short film at such a prestigious festival.…
Published in ARY, Sep 13th, 2018 The International Cricket Council (ICC) received 2.5 million ticket applications for the World Cup 2019, the Indo-Pak match remains the most popular fixture as a huge amount of applications received to fill Wembley Stadium. According to ICC, applications for the ticket have far exceeded predictions with fans from all around the world. The ICC Cricket World Cup 2019 public ballot closed on 29 August concluding the ticket ballot phase for next year’s ICC Cricket World Cup. Over 2.5 million ballot applications were received for #CWC19 tickets! A limited number of remaining tickets, available…
Published in ARY, Sep 12th, 2018 Former England captain Paul Collingwood has announced he will retire from all forms of cricket at the end of the 2018 season. All-rounder Collingwood – who appeared in 68 Tests, 197 one-day matches and 36 Twenty20 games at international level – has played for home county Durham throughout his domestic career in England. The 42-year-old has scored 16,891 runs and taken 164 wickets in the first-class game but will bow out after the County Championship fixture against Division Two rivals Middlesex, which starts on September 24. “After much thought and deliberation, I have decided to announce my retirement from cricket at…
Published in Eurosport, Sep 13th, 2018, By Tom Adams Fresh from her first ever Grand Slam title at the US Open, 20-year-old Naomi Osaka is poised to sign one of the biggest sportswear deals in history. According to reports, the Japanese superstar-in-the-making is set to land the biggest contract adidas have ever paid a female athlete: $8.5 million (£6.5m) per year. Osaka is already an adidas athlete but the sportswear company is poised to make her its highest-paid female star in history – along with a new deal acting as a spokeswoman for Nissan. [ads1] Osaka beat Serena Williams in the…
Published in Sportskeeda, Sep 12th, 2018, By Avik Das The Asia Cup is an exciting tournament for the Asian teams and it has a long history. This is the 14th edition of the Asia Cup and UAE will host the tournament after 23 years. Previously, UAE hosted the tournament twice in 1984 and 1995. The Asia Cup was held in Bangladesh last time and it was played in T20 format. But the tournament will be in ODI format this year and it will be an ideal preparation for the participating teams before the World Cup next year. There are…
Published in ESPN, Sep 11th, 2018, By Alagappan Muthu England 332 (Buttler 89, Cook 71, Moeen 50, Jadeja 4-79) and 423 for 8 dec (Cook 147, Root 125, Vihari 3-37) beat India 292 (Jadeja 86*, Vihari 56, Moeen 2-50) and 345 (Rahul 149, Pant 114, Anderson 3-45) by 118 runs England got everything they wanted on the final day at the Oval – victory by 118 runs, a last stirring send-off for the retiring Alastair Cook, and a record-breaking 564th Test wicket for James Anderson. But they were made to wait. And fret. The day lasted far longer than they might have liked,…
Grant Bradburn has been appointed by the Pakistan Cricket Board on a full-time basis for a period of three years. Photo: File Published in Geo News, Sep 13th, 2018 DUBAI: Pakistan’s fielding coach Grant Bradburn said on Thursday, his target is to improve the Pakistan cricket team’s fielding. Speaking to the media in Dubai, Bradburn said, “It was a great first session with the Pakistan team.” Bradburn who had joined the national team squad in Dubai on Wednesday, said, “The fitness and fielding of the team are great.” He added, “Pakistani players are ready to learn and are familiar…
Published in CNN, Sep 13th, 2018,By Katie Lobosco (CNN)American consumers may soon get a taste of the trade tensions between the United States and China. Thousands of goods, ranging from dishwashers to Fitbit fitness trackers to food seasonings, are poised to become more expensive if President Donald Trump moves ahead with a new round of tariffs on $200 billion of Chinese goods. On Friday, he said they could go into effect “very soon” and warned more could come. The Trump Administration is considering either a 10% or 25% tariff on the $200 billion in imports. But it has also invited Chinese…
Central American migrants at the border in Tijuana. The money from the Trump administration will help Mexico increase deportations of Central Americans.CreditCreditMeghan Dhaliwal for The New York Times Published in The New York Times, Sep 12th, 2018, By Gardiner Harris and Julie Hirschfeld Davis WASHINGTON — President Trump has promised for years that Mexico would pay for a vast border wall, a demand that country has steadfastly refused. Now, in the Trump administration’s campaign to stop illegal immigration, the United States plans instead to pay Mexico. In a recent notice sent to Congress, the administration said it intended to take $20 million in…
The most severe punishment under the Article 7 procedure is stripping Hungary of its voting rights in the EU [Vincent Kessler/Reuters] Published in AlJazeera, Sep 12th, 2018 MEPs vote 448 to 197 to start punitive procedures against Hungary for moves against EU’s ‘democratic values’. European Union legislators voted overwhelmingly in favour of launching punitive action against the Hungarian government for flouting democratic rules in a stunning political blow for Prime Minister Viktor Orban. With 448 votes in favour, 197 against and 48 abstentions, the motion passed in the plenary session on Wednesday, the first time ever the European legislature triggered an…
FILE PHOTO: U.S. President Donald Trump holds an Oval Office meeting on preparations for hurricane Florence at the White House in Washington, U.S., September 11, 2018. REUTERS/Leah Millis/File Photo Published in Reuters, Sep 12th, 2018, By Jeff Mason, Steve Holland WASHINGTON (Reuters) – Under fire over his handling of Russian election meddling, U.S. President Donald Trump signed an executive order on Wednesday meant to strengthen election security by slapping sanctions on foreign countries or people who try to interfere in the U.S. political process. The order, coming only eight weeks before congressional elections on Nov. 6, drew immediate criticism from both Republican…
Commander of United States Central Command Joseph Leonard Votel, speaks during a meeting with the Gulf cooperation council’s armed forces chiefs of staff in Kuwait City on September 12, 2018. Published in Gulf, Sep 12th, 2018, By Habib Toumi, Bureau Chief Kuwait military conference first stage of concrete joint-cooperation Manama: Iran’s destabilising actions and violent extremist organisations are the main security threats to the region and to the US, Central Command chief General Joseph Votel said on Wednesday. Such threats make it “imperative” to “enhance and integrate our capabilities for our mutual national security interests” and “rise above all the other…
Begum Kulsoom Nawaz is survived by her husband, former prime minister Nawaz Sharif, and their four children. ─ DawnNewsTV Published in Dawn, Sep 10th, 2018 Begum Kulsoom Nawaz, wife of former prime minister Nawaz Sharif, passed away in London on Tuesday after a months-long battle with cancer. She is survived by her husband and four children, Hassan, Hussain, Maryam and Asma. PML-N Spokesperson Marriyum Aurangzeb told the Associated Press that arrangements were being made to bring her body back to Pakistan for burial. Party leader Khawaja Imran Nazeer, speaking to the media in Lahore, said Begum Kulsoom may be laid to…
UAE banking sector tops in GCC with h1 assets surging to dh2.7t The UAE banking sector, currently undergoing a new cycle of consolidation, continues to surpass GCC peers in terms of total assets that had surged two per cent to Dh2.7 trillion ($748 billion) in the first half. The Saudi banking sector came second with total assets valued at $617 billion followed by Kuwait with $215 billion, Bahrain with $188 billion and Oman with $87 billion. Thanks to banking sector consolidation, the First Abu Dhabi Bank (FAB), which came into being following the merger of National Bank of Abu Dhabi…
Relief on inflation continues! August WPI eases to 4-month low at 4.53% Inflation based on wholesale prices eased to a four-month low of 4.53 per cent in August on softening of prices of food articles, especially vegetables. The Wholesale Price Index (WPI) based inflation stood at 5.09 per cent in July and 3.24 per cent in August last year. According to the government data released Friday, food articles registered deflation at 4.04 per cent in August 2018. Last month, deflation in this category was 2.16 per cent. Deflation in vegetables was 20.18 per cent in August, as against 14.07 per…
FDI drops 35pc as investors wait for economic policy changes Foreign investors largely remained shy of driving up investments in Pakistan’s economy as they waited for clarity on economic policies to be announced shortly by the new government. Foreign direct investment (FDI) dropped 35% to $160.1 million in August compared to $246.8 million in the same month of previous year, the State Bank of Pakistan (SBP) reported on Friday. “Foreigners are determined to invest in Pakistan at a quick pace,” Overseas Investors Chamber of Commerce and Industry (OICCI) Secretary General Abdul Aleem told. “They may have held back investment plans…
PAKISTAN: YouTube Kids Now Lets Parents Control What Content their Children Can View: YouTube Kids has added a new feature that now lets parents whitelist videos and channels that their children can access. The feature has been rolled out to the Android platform in all regions currently. iOS users will have to wait a bit for the update to the YouTube Kids app for now. [divider style=”normal” top=”20″ bottom=”20″] Huawei is Going to Launch a Foldable Phone Within 1 Year: Huawei just confirmed that it will launch its first, and probably the world’s first foldable smartphone (if Samsung doesn’t beat…
TPL Corp and SMB QAPS students visit the IBA as part of an educational initiative On the occasion of International Literacy Day, the TPL Corporation visited the Institute of Business Administration (IBA), Karachi main campus along with 50 students from Sindh Madressah Board Quaid-e-Azam Public School & College (SMB QAPS). Attendees included, Dr. Farrukh Iqbal, Executive Director IBA, Mrs. Malahat Awan, Head of Alumni Affairs, Graduate Placement, Communications & Resource Mobilization, Wing Commander (Retd.), Mr. Aamer Shabbir, General Manager Administration IBA, Mr. Zain Hassanally Effendi, member of board of governors and TPL Corp representative Ms. Anika Effendi, Group Head External…
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 7.46 7.96 2 – Week 7.50 8.00 1 – Month 7.59 8.09 3 – Month 7.79 8.04 6 – Month 7.93 8.18 9 – Month 8.15 8.65 1 – Year 8.29 8.79 2 – Year 8.79 9.29 3- Year 9.08 9.58
[box type=”info” align=”” class=”” width=””]Ziyang Fan Head of Digital Trade, World Economic Forum LLC Joel Backaler Managing Director, Frontier Strategy Group This article is part of the Annual Meeting of the New Champions [/box] China leads the world in e-commerce. More than 40% of the world’s e-commerce transactions currently take place in China, up from only 1% about a decade ago. Local Chinese tech champions such as Alibaba Group, Tencent and JD dominate a rapidly growing e-commerce ecosystem, mostly within China. Chinese consumers are mobile savvy, so much so that even older generations are comfortable with mobile commerce and purchasing online to offline (O2O)…
[box type=”info” align=”” class=”” width=””]Nafis Alam, University of Reading[/box] Wall Street giant Lehman Brothers filed for bankruptcy on September 15, 2008, triggering the most significant global financial crisis since the great depression. Lehman’s collapse was not triggered in a day but over a much longer period, with assets of US$680 billion (£518 billion) supported by only US$22.5 billion of capital by the time it went under. As the subprime mortgage crisis began to eat up financial institutions, this once invincible bank was suddenly no more. A decade later, with many of the world’s leading economies struggling to grow consistently, one…
[box type=”info” align=”” class=”” width=””]Igor Perisic Chief Data Officer, LinkedIn Corporation, US This article is part of the Annual Meeting of the New Champions [/box] The future of work is usually discussed in theoretical terms. Reports and opinion pieces cover the full spectrum of opinion, from the dystopian landscape that leaves millions unemployed, to new opportunities for social and economic mobility that could transform society for the better. The World Economic Forum’s The Future of Jobs 2018 aims to base this debate on facts rather than speculation. By tracking the acceleration of technological change as it gives rise to new job roles, occupations and industries, the report evaluates…
[box type=”info” align=”” class=”” width=””]Saadia Zahidi Managing Director, Head of Social and Economic Agendas, World Economic Forum This article is part of the Annual Meeting of the New Champions[/box] Machines and algorithms will do more current tasks than humans by 2025, according to the World Economic Forum’s Future of Jobs Report 2018, which covers 20 economies and 12 industries. But this same robot revolution will still create 58 million net new jobs in the next five years, the same research has found. Based on the operational realities of those at the frontlines of deciding on how to develop technological and human capital…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Sep 10, 2018 [/box] The number of super rich individuals across the world is increasing. According to the Wealth-X annual World Ultra Wealth Report, the number of ultra-high-net-worth individuals or UHNWIs (defined as being worth $30 million or more) grew 13 percent last year to 255,810. That growth was driven by soaring stock markets, steady economic growth, robust asset markets and stable exchange rates against the dollar. Collectively, those 255,810 people are worth around $31.5 trillion. For years, North America has been the driving force in millionaire creation but today, that mantle is being passed over to…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Sep 10, 2018 [/box] Last week, the world’s largest offshore wind farm opened off in the Irish Sea off England’s northwest coast. The Walney Extension is made up of 87 wind turbines manufactured by Siemens Gamesa and MHI Vestas and it covers 55 square miles, an area roughly equivalent to 20,000 football fields. The Vestas turbines stand 195 meters tall and they are the largest turbines in operation worldwide today, with each one optimized to generate 8.25 megawatts. The £1bn windfarm is owned by Denmark’s Ørsted and it has a total capacity of 659 megawatts, enough…
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Sep 6, 2018 [/box] The top ten Android apps in the world last month had a combined download figure of 360 million. According to Priori Data, at the top of the list was the ever popular WhatsApp with 72 million. In fact, apps developed by Facebook account for the lion’s share of the list, with WhatsApp, Instagram, Messenger/Messenger Lite and Facebook/Facebook Lite hauling in a combined 239 million downloads. [ads1] You will find more infographics at Statista
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Sep 10, 2018 [/box] September 10 is World Suicide Prevention Day and as such, we’ve pulled together the suicide rates of a selection of countries, by gender. Of the 25 looked at here, the World Health Organization estimates Russia to have by far the highest rate among men, at 48.3 cases per 100,000 population in 2016. For women, India has the highest rate, with 14.5 cases. On the whole, more men than women commit suicide however there are some exceptions. In China, the rate for women is 8.3 while for men it is 7.9. [ads1] You will find more…
Market Review The benchmark index witnessed negative sessions throughout the week where KSE100 declined to 41,266pts posting a decrease of 1.4%WoW on the back of PM’s approval to increase gas price by 46% and deteriorating macroeconomic indicators. During the week, market participation remained lackluster as evident from ADT and ADTV that declined by 13.2%WoW and 24%WoW, respectively. Foreign individuals remained net seller in this week as well, exhibiting an outflow of USD9.0mn. During the week, the Economic Coordination Committee (ECC) approved an increase of PKR2.0/unit increase in electricity price and disconnections in case of failure to pay bills for 3…
Published in ARY News Sep 3rd, 2018 NEW YORK: Pakistani Oscar-winning director Sharmeen Obaid-Chinoy pairs up with American Basketball star LeBron James for a new film. The film which is titled “Student-Athlete” is directed by Chinoy and produced by LeBron. Obaid-Chinoy has co-directed the film alongside Trish Dalton, with whom she spent two years investigating the college sports industry and the price the players have to pay to be a part of it. According to the official description published on the website, the documentary revolves around the complex rules of Amateur athletics in the United States and how they impact uncompensated athletes and their families.…
Cast members Henry Golding and Constance Wu pose at the premiere for ‘Crazy Rich Asians’ in Los Angeles. Photo: Reuters/ File Published in Geo News Sep 3rd, 2018 It has been another crazy good weekend for rom-com “Crazy Rich Asians,” which topped the box office for a third straight weekend amid a pretty good summer for North American theaters overall, industry watchers said Sunday. The Warner Bros film, with its mostly Asian cast, took in an estimated $22.2 million for the Friday-through-Sunday period, dropping just 10 per cent from the previous weekend, box office tracker Exhibitor Relations said. The film’s…
Published in Variety Sep 6th, 2018 By STEWART CLARKE Donald Sutherland will be honored with the Zurich Film Festival’s Lifetime Achievement Award at its upcoming 14th edition. There will also be a retrospective of the veteran film and TV star’s work. Sutherland will be in Zurich and present his recent movie, Paolo Virzi’s “The Leisure Seeker.” His recent work also includes roles in “The Hunger Games” and TV series “Trust.” His son, Kiefer, has previously been honored at Zurich, receiving its Golden Eye award in 2015. The Canada-born actor won Emmy and Golden Globe awards as Best Supporting Actor for his performance in the HBO…
Published in Geo News Sep 7th, 2018 LAHORE: The fourth edition of the Pakistan Super League just got more exciting with the signing of South African legend AB de Villiers. The former South African skipper, AB de Villiers, retired from international cricket earlier this year. He is considered among the great batsmen with over 20,000 international runs to his name. A supremely athletic fielder and a batsman who can play shots in all possible directions, de Villiers will be one of the star attractions at this year’s PSL Player Draft. “Pakistan Super League has grown into one of the top…
Published in The News Sep 7th, 2018 LONDON: Grant Bradburn is stepping down as Scotland coach to take up a role as assistant coach with Pakistan, Cricket Scotland announced on Thursday. The 52-year-old New Zealander has signed a three-year contract to become fielding coach of Pakistan cricket team. Bradburn has been charge of Scotland for more than four years, he led Scotland to the World T20 finals. Bradburn will replace Steve Rixon as fielding specialist and will work alongside the Pakistan Cricket Board coaching team lead by head coach Mickey Arthur. [ads1] Scotland have beaten four different full members…
Ehsan Mani (left) shakes hand with Election Commissioner Justice (R) Afzal Haider after being elected PCB Chairman unopposed by the board’s governing members. Photo Courtesy: PCB Published in Samaa Tv Sep 4th, 2018 Ehsan Mani has been elected the Pakistan Cricket Board chairperson for a period of three years. He was elected as the PCB chief unopposed by the Board of Governors during a meeting convened at the Gaddafi Stadium in Lahore on Tuesday. Mani has succeeded Najam Sethi who stepped down from office on August 20. He was nominated by Prime Minister Imran Khan for the position on the…
The Rolling Stone singer is an avid cricket fan. Photo: Twitter Published in GEO News Sep 7th, 2018 Rolling Stone singer Mick Jagger has pledged £20,000 for outstanding performance during the fifth and final Test match between England and India starting today. Speaking to Espncricinfo, Jagger said, the money will be donated to the charity ‘Chance to Shine’ every time a player from either side scored a century or took a five-wicket haul. He will also donate £10,000 for every half-century or three-wicket haul. Jagger who is an avid cricket fan is often in attendance at the games. Recently the singer…
The three-day event starts on 28 September at Le Golf National in Paris Published in BBC Sep 5th, 2018 Europe captain Thomas Bjorn says he “felt sick” when telling Rafa Cabrera Bello he would be left out of the Ryder Cup squad. Paul Casey, Sergio Garcia, Ian Poulter and Henrik Stenson were the four players given Ryder Cup wildcards by Bjorn on Wednesday. “It’s the tough part of being captain,” said the Dane, 47. “I called the four that made it and I called six players to let them know it wasn’t going to be this time.” Cabrera Bello, 34,…
Yemen’s athletes parade during the opening ceremony of the Asian Games 2018 Robertus Pudyanto/Getty Images Published in ESPN Sep 5th, 2018 By Jonathan Selvaraj in Jakarta Hasna Saied is furious. She storms past the mixed zone, where reporters are given an almost voyeuristic peek into athletes in their most vulnerable state. Saied rages because her Asian Games are over. The 23-year-old from Syria has just lost her first-round match in the women’s Sambo event. Her coach Muhammad Ashour goes after her to offer solace. “You should not mind. She’s very upset. She has come a long way for this,” he says in…
Abraaj fund unit that managed $14b gets $1 bid The fund unit of the embattled private equity firm Abraaj Group, which once managed about $14 billion, reportedly received a bid from a London-based emerging market investor for $1. Private equity firm Actis is among more than 10 private-equity firms that are in the race to buy some or all of the funds managed by the floundering buyout firm. Top contenders include Canadian real-estate firm Brookfield Asset Management, Chicago-based Vistria Group, Rohatyn Group, Kuwait’s Agility Public Warehousing Co. and Abu Dhabi Financial Group. Abraaj’s liquidators are also getting offers for regional…
8.2% GDP growth an outcome of reforms like gst, liberalisation of fdi norms by Modi government, says CII The 8.2 per cent economic growth in the first quarter of 2018-19 is an outcome of key reforms like GST and liberalisation of FDI norms initiated by the government, CII said Tuesday. According to the chamber, increase in private investment and enhanced government spending will help India garner a GDP growth of 7.3-7.7 per cent for the ongoing financial year. “Further, with good monsoons so far, we could see strong domestic demand contributing to higher GDP growth this fiscal,” CII President Rakesh…
FATF measures assist make bank operations clean The tightening of the monitoring regime to combat terror financing and money laundering under the umbrella of the inter-governmental Financial Action Task Force (FATF) is a positive move for the banking industry and the economy at large. “It (FATF move) is good for us (banks), the economy and from the perspective of tax payments,” JS Bank President and CEO Basir Shamsie said while talking with the media on Friday. The measures are helping banks make their operations clean. “Banks are recording all the suspicious transactions, doesn’t matter how big or small they are…
PAKISTAN: Ufone launches prepaid data roaming offer for UAE and Saudi Arabia: Keeping up to its all-time commitment of making life easier for its valued customers, Ufone has launched Prepaid Data Roaming Offer in UAE. By launching this offer in UAE, Ufone has now become the only operator in Pakistan offering prepaid data roaming services in both UAE and Saudi Arabia. Ensuring that Ufone caters to the needs of travelers by providing them with an affordable and easy solution, the new offer does not hold any subscription or daily/monthly recurring charges. [divider style=”normal” top=”20″ bottom=”20″] VIVO to bring two midrange…
World oil prices steady Oil prices were steady on Friday, with US crude slipping on weak global equity markets while Brent inched up on geopolitical factors, including violent protests in Iraq. US West Texas Intermediate (WTI) crude futures CLc1 settled down 2 cents at $67.75 per barrel. Brent crude futures LCOc1 settled up 33 cents at $76.83 a barrel. For the week, US crude lost almost 3 percent, while Brent was down 0.8 percent. Geopolitical developments lent Brent some support, as protests in the southern Iraqi city of Basra heated up and the civil war in Syria threatened to escalate,…
Pakistan’s foreign policy in good hands, says Najamuddin Shaikh Page Report Mr. Najamuddin A. Shaikh, Pakistan’s former foreign secretary has said that a country’s foreign policy emanates from its domestic policy. If it’s internal policies are strong, this will certainly lead to strong external policies. He said this in a Talk on ’Foreign Policy Challenges and the New Government,’ given on Saturday, September 1, 2018. It was organized by the Society for Global Moderation (SGM) in Karachi. Mr. Shaikh hoped that the new government in Pakistan will start moving towards a new identity and that it would recognize terrorism as…
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 7.43 7.93 2 – Week 7.48 7.98 1 – Month 7.52 8.02 3 – Month 7.72 7.97 6 – Month 7.85 8.10 9 – Month 7.98 8.48 1 – Year 8.07 8.57 2 – Year 8.57 9.07 3- Year 8.96 9.46
An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] Pakistan – Economic Indicators Overview Last Reference Previous Unemployment Rate 5.9 % Dec/16 5.9 Employed Persons 57420 Thousand Dec/15 56520 Unemployed Persons 3620 Thousand Dec/15 3580 Population 200 Million Dec/17 208 Living Wage Family 28800 PKR/Month Dec/17 29000 Living Wage Individual 14400 PKR/Month Dec/17 14500 Wages High Skilled 49800 PKR/Month Dec/17 41100 Wages Low Skilled 20700 PKR/Month Dec/17 17000 Foreign Exchange Reserves 16407 USD Million Jun/18…
[box type=”info” align=”” class=”” width=””] Ceri Parker Commissioning Editor, Agenda, World Economic Forum This article is part of the World Economic Forum on ASEAN[/box] The World Economic Forum has selected 80 winning start-ups to take part in its ASEAN 2018 summit as part of a competition to find the region’s most innovative new companies. From a Sharia-compliant cryptocurrency to a Filipino algorithm helping protect coral reefs, a slew of bright new ideas from across the region will be recognised at the meeting in Ha Noi, Viet Nam. The start-ups were chosen by a panel of judges from start-up accelerators and venture capital…
[box type=”info” align=”” class=”” width=””]Manoj Dora, Brunel University London[/box] Extreme hot and cold weather in the UK will have driven up average household food prices by £45m a week in 2018, according to recent research from the Centre for Economic and Business Research. Cue numerous press articles laying out the details of the damage, focusing almost entirely on the supply and demand problems with farms. In reality, this story is not quite as it seems. It is indisputable that extreme weather affects farmers. The CEBR report points out, for example, that the price of onions was driven up by over…
[box type=”info” align=”” class=”” width=””]Robert Muggah Co-founder, Igarape Institute and SecDev Group Parag Khanna Senior Research Fellow, Lee Kuan Yew School of Public Policy, National University of Singapore This article is part of the World Economic Forum on ASEAN [/box] The planet is urbanizing at an unprecedented speed, generating enormous social, economic and climatic stress. If sustainable urbanization is one of the paramount challenges of the 21st century, then Asia is ground zero for determining whether humanity can succeed. Just under half of all Asians live in cities, compared to roughly 82% of Americans and 74% of Europeans. Asians are on the…
[box type=”info” align=”” class=”” width=””]Howard Yu, IMD Business School[/box] Memory often plays strange tricks, embellishing past facts while ignoring the unpleasant details that were then so vivid. As George Orwell observed: “One way of feeling infallible is not to keep a diary.” As Google marks its 20th birthday, its success seems so well known and so often repeated that it runs like a myth. But Google needs to examine where it has failed and face some serious challenges if it wants the next 20 years to be anywhere near as successful. The success story goes that Google’s structure is decentralised,…
[box type=”info” align=”” class=”” width=””] This article is published in collaboration with Project Syndicate Børge BrendePresident, Member of the Managing Board, World Economic Forum Justin Wood Head of Regional Ag-enda – Asia Pacific, Member of the Executive Committee, World Economic Forum This article is part of the World Economic Forum on ASEAN [/box] Is the Association of Southeast Asian Nations resilient enough to thrive amid the regional and global transformations taking place today? While the global economy continues its broad-based expansion, disruptive economic, geostrategic, and technological forces may threaten ASEAN’s gains of recent years. To survive, ASEAN members must make important decisions about…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Sep 3, 2018 [/box] Around the world, the desire to move between countries for work reasons is becoming less desirable. The Boston Consulting Group conducted a major survey of 366,000 people across 197 countries about labor trends and work preferences. 57 percent of those polled said they would move abroad for work, a decline on 2014’s 64 percent when the question was last asked. The developing world had the highest desire for a relocation abroad with 90 percent of India’s repondents and 70 percent of people in Brazil saying they would be willing to move to another country…
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Aug 30, 2018, Aug 30, 2018 [/box] Due to health concerns related to the consumption of highly caffeinated and sugared energy drinks, the UK government plans to ban the sale of them to children in England. At this stage it is still unclear as to whether the cut off point will be 16 or 18 years old. While the idea of a child drinking such products may seem inconceivable to some, a 2012 survey by the European Food Safety Authority revealed that their consumption in younger age brackets is actually quite prevalent. Compared to just 30 percent of…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Aug 30, 2018 [/box] If you’re keen on becoming a commercial pilot, it might be a good idea to start searching for a job in Asia. A forecast from Boeing says that over the next two decades, the Asia-Pacific region will need 261,000 new pilots and 317,000 new cabin crew members with half of the positions materializing in China. That’s going to occur due to continuing economic growth and rising wealth levels, both of which will contribute to higher numbers of people traveling. That increase in wealth is also going to see a considerable expansion of the…
Pakistan’s premier oil Company, Byco Petroleum Pakistan Limited, launched their Green campaign to Make Pakistan Green Again on the nation’s 71st Independence Day at a special tree plantation ceremony held at the Urban Forest park in Clifton Karachi. Shaniera Akram, wife of renowned Pakistan fast bowler Wasim Akram, inaugurated the ceremony to plant 1,000 trees at Shahzad Qureshi’s Urban Forest. A further 2,000 trees have been planted in District Lasbela at Byco’s Bowzer village near its refinery in Balochistan. Byco has concurrently launched a campaign offering complimentary pouches of 2 million Moringa Tree seeds to its customers to plant and…
Al Meezan Investments offer investment solutions, mutual funds and investment advisory services to specific needs of each of our customers. Being the largest private sector Asset Management and Investment Advisory Firm operating in Pakistan it offer a comprehensive range of Shariah-compliant investment solutions. With an impressive track record of more than 23 years, it has the status of being the only company in Pakistan with the sole mandate to provide Shariah-complaint investment solutions to valued clients. The aim is to “innovate and consistently perform”, thereby facilitating investors in achieving their financial objectives in a Shariah compliant manner. The company’s philosophy…
Market Review The benchmark index continued its downward trend over the period under review where the index declined to 42,261pts posting a drop of 561pts, down by 1.3%WoW owing to lack of triggers to entice investors. During the week, market participation remained lackluster as evident from ADT and ADTV that declined by 1.3%WoW and 2.8%WoW, respectively. Foreign investors exhibited a net outflow of USD10.8mn. During the week, Central Bank data revealed that Non-Performing loans (NPLs) held by banks increased to PKR624bn in FY18 where private sector lenders accounted for more than half of the total NPL. Furthermore, in order to…
Market remains under bearish spell, index down 2%wow Summary The week started on a positive note gaining 157.49 on Monday. The very next day it sank and persist into bearish mode for four consecutive days. The investors remained lukewarm during week searching for clarity on economic front. The stock traded volume during the week increased by 35% to average volume 177m but market capitalization decreased to Rs.8.678 trillion from Rs.8.753 trillion before Eid holidays. The KSE-100 Index declined below 42,00 level at 41,742.24 on Friday. Major sectors that led to decline were: Cement, Power and Fertilizer. Stocks gained 157 points…
Published in ARY News, Aug 30th, 2018 DC Universe, the comic book giant’s exclusive streaming platform, is officially going live on this year’s Batman Day. The digital subscription service opened limited access to its beta version in August with the promise of a wider release this fall. Now you only have to wait a couple more weeks before it opens its doors to everyone on September 15th. If you’ve been looking forward to Titans in particular, though, we’re afraid you won’t see it anywhere on the platform on launch day: the series will officially begin on October 12th, 2018…
Chinese movie theatres may appear to be sold out online, but in reality could be completely empty Published in BBC, Aug 31st, 2018 By Stephen McDonell For a country which will soon assume the mantle of the world’s largest cinema audience, China comes out with a surprising number of big budget B-grade flops. Some blame this on censorship, others on a lack of creativity but there are also those who see a more sinister force at work, which has nothing to do with film-making. It also has nothing to do with selling tickets: at least not real ones. Some investors…
Published in Gulf News, Aug 31st, 2018 Sports drama is based around India’s first gold medal as a free nation at the Olympics Akshay Kumar’s film Gold will be the first Hindi film to release in Saudi Arabia, the Indian National Award-winning actor says. “The story of India’s first Gold medal victory for the first time in the Kingdom of Saudi Arabia. Happy to share, Gold is the first ever Bollywood movie to release in the Kingdom Of Saudi Arabia, in cinemas from today!” Kumar tweeted. [ads1] A historical sports drama inspired by India’s first Olympic gold medal, Gold traces the golden era of Indian…
Published in ARY News, Aug 27th, 2018 MUMBAI: Late Legendary actor and producer Raj Kapoor’s R.K Studios is up for sale as the Kapoor family unanimously bids farewell to the property after it was gutted in a massive fire last year, says his son, actor Rishi Kapoor. Rishi said the family decided to sell the property after learning that the renovation of the studio would still not bring in enough revenue to keep the establishment running. “For a while, we did juggle with the idea of renovating the place with state-of-the-art technology. However, in reality, it isn’t always possible for a…
Fans Pay Tribute To Michael Jackson On 60th Birthday In London. Photo: Reuters Published in Geo News, Aug 30th, 2018 REUTERS LONDON: Fans of Michael Jackson honored the “King of Pop” on what would have been his 60th birthday on Wednesday by gathering at a temporary monument in the shape of a crown erected in his honor in London. Braving the rain, fans imitated his famed dance and moonwalk moves around the 13-foot (4 meter) white, sparkling crown erected by record label Sony Music on the south bank of the River Thames. [ads1] “The first time I saw…
Published in Gulf News, Aug 28th, 2018 By K.R. Nayar, Chief Cricket Writer Imran Khan, after becoming the Prime Minister, has shown the intent to strengthen the functioning of the Pakistan Cricket Board (PCB). It is this sport that gave him the fame to rise to this position and hence he will be putting great efforts to lift the image of Pakistan cricket. By winning the 1992 World Cup, Imran, as captain, proved that Pakistan is a power in world cricket. Though he will have his hands full in trying to resurrect the country’s economy, he is likely to do…
Published in Samma, Aug 28th, 2018 The schedule of Australia and New Zealand’s tour to the United Arab Emirates was announced on Tuesday. Australia will play a first-class game along with two tests and three Twenty20 (T20) Internationals against Pakistan in the Gulf. The Pakistan Cricket Board had invited the two teams to play series in the country. They declined the offer, citing security reasons. Australia’s four-day tour match against Pakistan A will be played in the Gulf from September 29 to October 2. The first test between Pakistan and Australia will be played from October 7 to October…
Over 10,000 aspiring Qalandars came to the stadium to express themselves. Photo: Lahore Qalandars Published in GEO News, Aug 28th, 2018 By Faizan Lakhani LAHORE: The Player Development Program by Pakistan Super League franchise Lahore Qalandars on Tuesday reached Lahore with another batch of thousands aspiring Qalandars appearing in open trials at Qadaffi Stadium throughout the day. According to estimation, more than 10,000 aspiring Qalandars came to the stadium to express themselves, and to motivate them two legends from Pakistan Cricket – Shoaib Akhtar and Inzamam ul Haq were also present at the stadium. The duo didn’t only witness the…
Aaron Rodgers is a two-time MVP Published in BBC, Aug 29th, 2018 Green Bay Packers quarterback Aaron Rodgers will become the highest paid player in NFL history, after agreeing a four-year contract extension reported to be worth $134m (£103m). The 34-year-old will reportedly earn more than $80m by March 2019. The new deal surpasses that of Atlanta Falcons quarterback Matt Ryan, who held the previous record. Rodgers led the Packers to the Super Bowl championship in 2011, where he was also named most valuable player. [ads1] The two-time MVP has spent his career at the Packers since being selected in…
Cricket Australia chief executive James Sutherland speaks during a news conference in Sandton, South Africa. Photo: Reuters Published in Samaa, Aug 19th, 2018 By Reuters Cricket Australia has reviewed spot-fixing allegations against their players contained in a new documentary on corruption in the sport and has not found any evidence to support them, the body’s chief executive James Sutherland said on Tuesday. Sutherland said news organisation Al Jazeera was set to broadcast a follow-up documentary to its programme “Cricket’s Match Fixers”, which aired in May and alleged incidents of pitch-doctoring at two test matches and sport-fixing at others. Cricket Australia…
Defending champions India, Pakistan, Afghanistan, Bangladesh, Sri Lanka and one qualifier team will contest in the UAE. Published in Gulf News, Aug 19th, 2018 By K.R. Nayar, Chief Cricket Writer Dubai: The much-awaited ticket sales for the 14th edition of the Asia Cup, to be held at the Dubai International Stadium and Abu Dhabi’s Zayed Cricket Stadium from September 15-28, will commence from Monday (August 20). Following the agreement signed by Shaikh Nahyan Bin Mubarak Al Nahyan, the UAE’s Minister for Tolerance and the Chairman of the Emirates Cricket Board (ECB) with Board of Control for Cricket in India…
Ample liquidity in UAE banking as deposits rise Deposits with the UAE banks increased while credit growth remained flat in July, indicating ample liquidity in the local banking sector, according to the Central Bank’s monthly data. The month-on-month rise in deposits was driven by both the non-resident segment (up Dh6 billion in July) and the resident (up Dh4.6 billion). Non-resident deposits were up 2.3 per cent year-to-date in July 2018 despite domestic liquidity improving across the system this year, supported in large part by higher government deposits (up 28.5 per cent year-on-year). Non-resident deposits accounted for 11.6 per cent of…
Two years after demonetisation, over 99% banned notes back; RBI finishes verification Nearly two years after demonetisation, RBI has completed the tasks of processing and verifying banned currency notes. On November 8, the number of Rs 500 and Rs 100 notes in circulation was 15.4 lakh crore and the total value of specified bank notes (SBNs) returned to the banks now stands at 15.3 lakh crore, (which amount to 99% of total demonetised notes), RBI annual report for 2017-18 showed. It was in November 2016, the government had announced the demonetisation of all Rs 500 and Rs 1000 banknotes of…
Week-on-week: SPI decreases 0.63pc The Sensitive Price Indicator (SPI) for the week ended August 30, 2018 registered a decrease of 0.63% for the combined income group, going down from 228.6 points in the prior week to 227.17 in the week under review. However, the SPI for the combined income group rose 2.6% compared to the corresponding week of previous year. The SPI for the lowest income group decreased 0.64% compared to the previous week. The index for the group stood at 215.29 points against 216.68 in the previous week, according to provisional figures released by the Pakistan Bureau of Statistics.…
PAKISTAN: LG unveils curved gaming monitors to compete against Samsung’s offerings: Just like Samsung did recently, LG is using its prowess in the television segment to unveil a new line of curved gaming monitors. The two monitors cater to G-Sync and FreeSync each and feature a curved panel for a more immersive gaming experience. The monitors come with an ultra-wide 21:9 aspect ratio, coupled with narrow bezels for an even more premium look. They have IPS panels, thankfully, rather than TN, and come with 3440 x 1440 resolution or just over 2K. [divider style=”normal” top=”20″ bottom=”20″] Acer Predator Triton 900 is…
Tariq Jamali Appointed as Acting President/CEO National Bank of Pakistan The Ministry of Finance, Government of Pakistan has appointed Mr. Tariq Jamali, Senior Executive Vice President as the Acting President/Chief Executive Officer of National Bank of Pakistan. He is a thorough professional banker with 30 years of successful banking career. He joined NBP in 1987 and has held various Senior Management positions at Regional and Head Office levels. During his career at NBP he has served as Group Chief of Logistics Support Group, Commercial and Retail Banking Group and Compliance Group. Presently, he was serving as Group Chief, Asset &…
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 7.41 7.91 2 – Week 7.45 7.95 1 – Month 7.51 8.01 3 – Month 7.68 7.93 6 – Month 7.80 8.05 9 – Month 7.88 8.38 1 – Year 7.97 8.47 2 – Year 8.41 8.91 3- Year 8.76 9.26
[box type=”info” align=”” class=”” width=””]This article is published in collaboration with VoxEU[/box] Blockchain is all the rage. We are constantly bombarded by reports of how it will change the world (e.g. Casey et al. 2018). While it may alter many aspects of our lives, our suspicion is that they will be in areas that we experience only indirectly. That is, blockchain technology mostly will change the implementation of invisible processes – what businesses think of as their back-office functions. In this column, we briefly describe blockchain technology, the problem it is designed to solve, and the impact it might have…
[box type=”info” align=”” class=”” width=””]Justin Adams Managing Director, Global Lands, The Nature Conservancy[/box] Here are some things we know: that the climate is changing, that this is largely a result of too much carbon and other greenhouse gases in the atmosphere, and that we continue to emit more carbon into the atmosphere every day. We also know that, globally, forests and terrestrial soils combined store more than two and half times as much carbon as the atmosphere. And we know that, with some changes in how we manage our landscapes, they could emit less carbon and store much more. So, given all that we…
[box type=”info” align=”” class=”” width=””]Natalie Pierce Project Specialist, Social Engagement, World Economic Forum, [/box] Now more than ever, people under the age of 30 are demonstrating the power of open, participatory and collective action. Rather than waiting for big social problems to be solved by government action, young people are adopting a do-it-ourselves ethos, actively shaping systems and structures to meaningfully include and empower more people. Take Basima Adulrahman. She runs a green design and construction initiative in Iraq; a country trying to rebuild after decades of war. She and her fellow Global Shapers in the Erbil Hub, run the Social Cohesion Youth Dialogues where they work to build…
[box type=”info” align=”” class=”” width=””]Lindsey Appleyard, Coventry University[/box] Wonga, the poster-boy of the British payday lending industry, has gone into administration following an influx of customer compensation claims. Its demise is a result of government regulation to reform the payday loans sector in favour of the consumer. A price cap that was introduced by the Financial Conduct Authority (FCA) regulator in 2015 on high-cost, short-term credit means that Wonga and other payday lenders’ history of irresponsible lending is catching up with them. Profits have been eaten into as a result of the cap, with Wonga having to foot the bill…
[box type=”info” align=”” class=”” width=””]John W Walsh, IMD Business School[/box] Coca-Cola’s £3.9 billion acquisition of Costa Coffee has made quite a ripple. Atlanta-based Coca-Cola is obviously best known for its soft drinks portfolio, found in supermarkets, kiosks, hotels, bars and restaurants around the world. Costa, headquartered in the UK, has 3,800 coffee shops in over 30 countries with about two-thirds in its UK home market. Both companies might be all about beverages, but that’s about the only overlap in their operations. The logic for Costa’s current owner, Whitbread, is straightforward enough. It was coming under investor pressure to focus on…
[box type=”info” align=”” class=”” width=””]by Julia Engelmann, Aug 24, 2018[/box] In recent years, Japanese online retailers have been exporting an increasing amount of merchandise cross-border, primarily to the United States and China. According to the Ministry of Economy, Trade and Industry (METI) in Japan, the retail value generated through cross-border e-commerce by Chinese consumers from Japanese business operators was at approximately 1.3 trillion Japanese yen in 2017. In the same year, people from the United States spent about 713 billion yen on products ordered via online retail platforms from Japan. Japan is not only the fourth largest global e-commerce market, but also the leading mobile online retail…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Aug 24, 2018[/box] As most of you probably know, smartphones have the ability to gather a lot of information about its users. But how often do our favorite mobile devices actually “phone home” and share information with Google and Apple, i.e. the companies behind Android and iOS? According to a new study conducted by Professor Douglas C. Schmidt, Professor of Computer Science at Vanderbilt University, and published by Digital Content Next, Google in particular likes to keep tabs on its users. The study analyzed how often Android phones and iPhones send information to Google’s and Apple’s…