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[box type=”info” align=”” class=”” width=””]by  Sarah Feldman, Aug 24, 2018[/box] The longest bull market clocked in at 3,453 days on Wednesday, roughly a 10-year run. A bull market begins when the market rises above 20 percent, which for this most recent run, occurred after the nadir of the 2008 financial crisis. Since March 2009, when this bull market began, the S&P 500 has climbed by more than 320 percent. Most recently low yielding bonds have made stocks more attractive and given companies more wiggle room to borrow. Corporate tax cuts have helped bolster balance sheets. Apple valued at over $1 trillion has helped push the…

[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Aug 27, 2018[/box] Across the European Union, price levels for consumer goods vary hugely. According to Eurostat, Denmark and Luxembourg had the highest price levels in the EU last year, with both countries 141 percent more expensive than average. Sweden, (134.7 percent), Ireland (127.8 percent) and Finland (123.3 percent) rounded off the top-five. The situation is better for shoppers in Europe’s major economic powerhouses with France and Germany 106.7 and 104.4 percent higher than average respectively. Poland, (53.2 percent), Romania (43.4 percent) and Bulgaria (44 percent) were the three countries with the lowest average prices for consumer goods in…

[box type=”info” align=”” class=”” width=””]Published in collaboration with the Atlantic Council[/box] This article is part of the World Economic Forum’s Geostrategy platform Of all the changes in US policy brought about by the Trump administration, none has been as shocking as that in trade. The administration is suspicious of, and at times appears willing to abandon, the multilateral system of trading rules that was both created and maintained by the United States. The reaction of major trading partners and international policy makers has been visceral and often intense. They have warned that a turn toward protectionism is a threat to the global…

[box type=”info” align=”” class=”” width=””]Allen Gallagher, University of Bath and Anna Gilmore, University of Bath[/box] What’s the size of the black market in tobacco and who is behind it? These questions have dogged governments, public health advocates, researchers and the tobacco industry for years. The world’s biggest tobacco companies spend millions on research to produce answers – commissioning reports which often conclude that the trade in illicit tobacco is on the rise. The big tobacco companies routinely use these findings to argue that every tobacco control policy will lead to increases in smuggling – claiming higher taxes encourage more people…

[box type=”info” align=”” class=”” width=””]Karen Jackson, University of Westminster and Oleksandr Shepotylo, University of Bradford[/box] If Britain leaves the European Union with no deal in place to govern trade with its biggest partner, it will fall back on World Trade Organisation rules. The same set of rules would apply to EU countries and non-EU trade partners. This is why the UK government has published a series of “technical notices” detailing preparations for a no-deal Brexit. Here are seven reasons that sum up why a no-deal Brexit and defaulting to WTO rules would be bad for British businesses and the wider…

[box type=”info” align=”” class=”” width=””]Published in collaboration with the Valdai Discussion Club [/box] This article is part of the World Economic Forum’s Geostrategy platform The theme of trade wars appears to have firmly taken centre-stage across the globe – from impacting international trade flows to sending shivers across international financial markets. Emerging market currencies as well as developed markets are starting to closely follow the vagaries of protectionism. And the mega-projects that were to be centered on the US – namely the Transpacific Partnership (TPP) as well as the Transatlantic Trade and Investment Partnership (TTIP) – have experienced reversals or were put…

[box type=”info” align=”” class=”” width=””]Will Sarni Founder and CEO, Water Foundry Callie Stinson Project Lead, Water Initiative, World Economic Forum[/box] From an environmental and social impact perspective, this year has given the world much to worry about. On track to be the fourth hottest year on record, many countries have grappled with debilitating heat waves, including Japan, where an estimated 80 people died as a result of soaring temperatures. These abnormally high temperatures combined with a lack of rainfall have contributed to unprecedented wildfires, which have ravaged much of Europe, the western states of the US and even the Arctic.…

[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Aug 15, 2018[/box] After a motorway bridge collapsed in Genoa on Tuesday killing 35 people, Italy is still in shock and mourning. While rescuers searched the rubble and twisted steel for survivors, investigators were already examining possible reasons for such a catastrophic collapse. The country’s transport minister called on senior managers at the company managing the bridge to resign while a criminal inquiry into the disaster has also been announced. The Morandi bridge was built in 1967 and measures 1.2km long. Generally, bridges like that are designed to stand for at least 100 years with periodic maintenance…

[box type=”info” align=”” class=”” width=””]by Sarah Feldman, Aug 16, 2018[/box] Legislators in India are drafting legislation which would create a level playing field for Indian startups against companies like Amazon, Apple, Facebook, and Google. The potential law would also require companies to house company data exclusively in India. While India’s annual e-commerce revenue does not match the United States’ or China’s yet, Morgan Stanley values Indian e-commerce at $200 billion in a decade. Growth is set to accelerate and continue at this rate for the underdeveloped market, while other more seasoned markets are expected to slow in the years to come. The legislation is still in…

[box type=”info” align=”” class=”” width=””]by Yuki Kono, Aug 16, 2018[/box] Japan, one of the first movers to adopt fourth generation mobile networks, has recently proven a surprise with comparatively low mobile internet speeds. According to an analysis of 4G download speeds in major Asian cities by OpenSignal, Tokyo only ranked fifth, even surpassed by Yangon and Taipei. As Japan’s high mobile device penetration rate and use of 4G service plans contribute to the speed declines, the country has started preparing its telecommunications networks for the future. In addition to increasing the availability of free Wi-Fi, the government and the three main mobile services providers have…

[box type=”info” align=”” class=”” width=””]by Patrick Wagner, Aug 17, 2018[/box] In an effort to increase transparency, Google disclosed American political groups’ expenses in advertising on its platform in the current election cycle. As our chart shows, organizations affiliated with both parties spend huge amounts of money to advertise their policies. Within the top 10 one can find six organizations with a direct link or a leaning to the Republican party and 4 with links to the Democratic party. Trump’s Make America Great Again Committee spent the most money on political advertising on Google and also bought the biggest amount of single ads. [ads1] You…

Pakistan currently has the largest population of young people ever recorded in its history, 64 percent of the population is below the age of 30 according to the latest United Nations Development Program (UNDP) report. If we don’t give our children and youth access to quality education today, we literally have a ticking time bomb at our hands. The education emergency remains greater than ever. With 22.6 million out of school children in Pakistan, it is the need of the hour to make quality education accessible for the less privileged children. The Citizens Foundation (TCF) perhaps the largest network of…

KSBL gave warm welcome to its upcoming batch of students for MBA and EMBA program on the auspicious occasion of Orientation Ceremony, held on Thursday 16th August, 2018. In the opening session Dr Zeeshan (Dean, KSBL) briefed students about the KSBL’s code of conduct. He also gave an overview regarding course program and other courses like Design Thinking, Business Analytics and Digital Entrepreneurship that are crucial for students to take to standout in today’s advancing economy. Moreover he acquainted students with institute’s culture and core values. Speaking on the occasion he said, “At KSBL we aim to create leaders. In…

Market Review The benchmark index remained under pressure during the week on the back of geopolitical tensions and lack of triggers to entice investors. The index posted decline of 2%WoW to close at 41,961pts. During the week market participation remained lackluster as evident from ADT and ADTV that declined by 11.9%WoW and 0.6%WoW, respectively. Foreign investors also exhibited a net outflow of USD9.5mn. During the week, PAMA released the latest figures for auto industry whereby overall sales of locally assembled cars, light commercial vehicles, vans and jeeps grew by 9%YoY to 21,344 units during the 1MFY19 as a result of…

Bearish stocks bounce back last day on PM’s election Summary The investors kept a close eye on the activities in the parliament for the political maneuvering and the elections that took place. Accordingly, most of them remained on sidelines as the average volume declined from last 251 million to 208 million shares this week. The KSE-100 Index shed 396 points with a decline of market capitalization by Rs.61 billion to Rs.8.703 billion. The market remained bearish for three days and shed 881 points. There were economic concerns for investors which were heightened by the publication of Fitch Rating report. The…

Scarlett Johansson, 33, took in $40.5 million in pre-tax earnings from June 1, 2017, to June 1, 2018, quadrupling her income from the previous year, according to Forbes’ calculations. Photo: Got Celeb Published in Geo News, Aug 17th, 2018 LOS ANGELES: Scarlett Johansson’s role as Marvel superhero Black Widow catapulted her to the top of Forbes’ annual list of the world’s highest-paid actresses on Thursday, landing her ahead of Angelina Jolie. Johansson, 33, took in $40.5 million in pre-tax earnings from June 1, 2017, to June 1, 2018, quadrupling her income from the previous year, according to Forbes’ calculations.…

Pop star Madonna and designer Jean Paul Gaultier arrive at a fashion gala in New York City on May 7, 2018. Photo: AFP Published in Geo News, Aug 16th, 2018 Madonna, the Queen of Pop, appears to have travelled to the former imperial city of Marrakech in western Morocco to celebrate her 60th birthday today. “Walking thru the Labyrinth of the Medina during the Call to Prayer,” the American singer wrote on her Facebook and Instagram accounts on the eve of the big day. She posted a “birthday, magic, adventure” video shot at night in the labyrinthine alleys of…

Published in Samaa Tv, Aug 13th, 2018 The North American box office was under attack from sci-fi horror film ‘The Meg’ this weekend, industry estimates showed Sunday, as it more than doubled the earnings of its closest competitor to claim the top spot. The Warner Bros. adaptation of Steve Alten’s “Meg: A Novel of Deep Terror” (1997) took $44.5 million in its first weekend in theaters, as viewers rushed to see Jason Statham as a rescue diver who tries to save scientists in a nuclear submarine from a huge, underwater shark attack. Second place went to Tom Cruise’s “Mission:…

Published in ARY News, Aug 15th, 2018 NEW YORK: Walmart Inc said on Wednesday that it would tie up with comedian and talk show host Ellen DeGeneres to launch a women’s fashion line, its latest attempt to make deeper inroads into the apparel space and gain market share in the category. The line, dubbed EV1, will feature nearly 60 items, ranging from denim, tees bearing Ellen quotes, accessories and footwear, all priced at $30 or less, with new items seasonally, Denise Incandela, head of fashion, Walmart U.S eCommerce, said in a blog post. The partnership is likely to help…

Published in E News, Aug 16th, 2018 by CORINNE HELLER Priyanka Chopra and Nick Jonas will soon return to her native India, this time as an engaged couple, to attend an engagement party hosted by her family, which his loved ones will also attend. The 36-year-old Quantico actress and 25-year-old pop singer recently got engaged after dating for at least two months. “Nick Jonas and his immediate family are traveling to India this weekend to attend an engagement party hosted by Priyanka’s family,” a source told E! News on Wednesday. “It’s going to be the first time that their families intermingle and get to know each other.” “It’s a tradition…

Alonso is in his fifth season with McLaren Published in BBC, Aug 14th, 2018 Spanish two-time world champion Fernando Alonso has announced he is to retire from Formula 1 at the end of the season. The McLaren driver will end a career that began with a debut for Minardi at the Australian Grand Prix of 2001. Alonso, 37, who is competing in his 17th F1 season, won the 2005 and 2006 championships when racing for Renault. “After 17 wonderful years in this amazing sport it’s time for me to make a change and move on,” he said. “I made…

Barcelona captain Lionel Messi is looking forward to lead his side to another Champions League title win. Photo: AFP Published in Samaa Tv, Aug 16th, 2018 Barcelona star Lionel Messi said the club will “do everything possible” this season to praise the Champions League trophy away from arch rivals Real Madrid, who have won the competition each of the past three years. “This year I think we have a squad that allows us to dream. The new players are going to help us be better than before,” Messi told fans at the Camp Nou ahead of Wednesday’s 3-0 pre-season friendly…

Published in ARY Sports, Aug 15th, 2018 The Pakistan Cricket Board (PCB) is set to hold an eight-day training camp prior to the Asia Cup 2018, which is scheduled to take place in the UAE from September 15 to 30. According to the sources, PCB has decided to conduct the training camp in order to judge players’ performance and their fitness level to frame a competitive 15 man squad for the Asia Cup. According to the proposed schedule, the players will undergo physical training followed by batting, bowling and fielding sessions at the Gaddafi Stadium. Sarfraz led Pakistan team…

Preparations underway: A worker paints an installation showing mascots Kaka (L), Bhin Bhin (C), and Atung (R) ahead of the 2018 Asian Games in Jakarta on August 14. PHOTO: AFP Published in The Express Tribune, Aug 15th, 2018 By AFP JAKARTA: Organisers are making reassuring noises about their arrangements but Indonesia has never hosted a sports event on this scale, with 16,000 competitors and officials descending on Jakarta and Palembang, a sleepy port city on Sumatra island. While the Olympics has a slightly higher number of participants, the Asian Games is ahead in terms of complexity: it has 40 sports, including…

Ben Stokes Published in Gulf News, Aug 15th, 2018 By  Nick Hoult & Tom Morgan, The Telegraph Group Ltd, London All-rounder returns but questions remain London: Ben Stokes will make a sensational return to the England Test team on Saturday after he and fellow defendant Ryan Hale were cleared of affray by a jury at Bristol Crown Court. But the repercussions of this will run and run. Stokes — who is understood to have incurred pounds 140,000 (Dh651,428) in legal costs — could still face an ECB disciplinary charge for the allegations of heavy drinking and a street fight…

Atletico Madrid celebrate with the trophy after winning the Super Cup. Photo: Reuters Published in Samaa Tv, Aug 14th, 2018 By Reuters Atletico Madrid finally got their own back on Real Madrid in European competition by lifting the UEFA Super Cup on Wednesday, snatching a 4-2 win over their city rivals thanks to goals from midfielders Saul Niguez and Koke in extra time. Diego Costa gave Europa League holders Atletico a dream start against Champions League winners Real by firing them ahead after 49 seconds, knocking down a long pass and smashing the ball into the net from a…

President Xi Jinping’s administration is facing a catalog of domestic problems. Photo: AFP Published in Asia Times, Aug 14th, 2018 By CHRIS TAYLOR The country finds itself on a rock face, buffeted by the gusting imperative winds of economic and political reform After several decades of unprecedented growth and global adulation, China watchers are increasingly focusing on the headwinds. The world’s second-largest economy suddenly appears to be dithering – to be, perhaps, even frail. The reasons are not only systemic economic contradictions. They are also a result of ad hoc governance solutions that President Xi Jinping has been forced to undertake to…

Published in BBC, Aug 16th, 2018 Giving tenants greater support so they can hold their landlords to account is being considered as part of government proposals on social housing in England. The measures include speeding up the complaints process and publishing league tables to highlight the performance of landlords. The Green Paper also pledges a scheme to offer tenants the right to buy 1% of their home each year. Labour said the “pitiful” plans made no promise to fund more affordable homes. The plans are part of a “fundamental rethink” on social housing following the Grenfell tragedy. The latest…

MEHREEN Faruqi is hopeful her election will encourage non-white Australians Published in Dawn, Aug 16th, 2018 KARACHI: At a time when Australia is caught up in a bitter row over racism, Pakistani-born Mehreen Faruqi became the first female Muslim member to be appointed to the Australian senate, reported BBC. The Greens Party member of parliament for New South Wales was selected to join the Senate on Wednesday to fill a vacant seat. Following her appointment, Ms Faruqi told BBC that she would use her new role as senator to fight for a “positive future for Australia where we are…

The Turkish and Qatari leaders met in Ankara on Wednesday [AP] Published in AlJazeera, Aug 16th, 2018 Qatar pledges to make direct investment in Turkey, currently hit by currency crisis amid a diplomatic stand-off with US. The Turkish lira rallied from record lows on Wednesday after Emir Sheikh Tamim bin Hamad Al Thani said Qatar was standing by its “brothers in Turkey” as he announced a $15bn investment into the country’s financial markets and banks. The emir’s comments came after holding talks with Turkish President Recep Tayyip Erdogan in Ankara, Turkey’s capital. After falling by more than 45 percent against the US dollar, the…

The Boston Globe made a plea for editorial unity last week Published in BBC, Aug 16th, 2018 More than 300 news outlets are launching a campaign on Thursday to counter President Donald Trump’s attacks and promote a free press. The Boston Globe made the call last week for a nationwide denouncement of the president’s “dirty war” against the media, using the hashtag #EnemyOfNone. Mr Trump has derided media reports as “fake news” and attacked journalists as “enemies of the people”. UN experts have said this raises the risk of violence against journalists. UN experts condemn Trump media attacks Why…

After electing Speaker National Assembly Asad Qaiser shaking hand with PTI chief MNA Imran Khan at Parliament House. Published in Gulf News, Aug 15th, 2018 By Zubair Qureshi, Correspondent New speaker has proven track record in Khyber Pakhtunkhwa Islamabad: Pakistan Tehreek-e-Insaf (PTI), in its first show of power, clinched both seats of speaker and deputy speaker with their nominees elected by a clear majority in the National Assembly on Wednesday. The party’s former speaker of Khyber Pakhtunkhwa (KP) Assembly and lawmaker from Swabi, Asad Qaiser, secured 176 votes against PPP’s candidate Syed Khurshid Shah for the speaker’s office. Shah bagged…

Gold prices sink to 19-month low amid strong dollar Gold prices shed over one per cent on Thursday to hit their lowest in more than 19 months, with the US dollar holding steady near a recent peak as concerns about a Turkey crisis and China’s economic health weighed on emerging market currencies. Spot gold was down 0.8 per cent at $1,164.71 an ounce, as of 0055 GMT. Earlier in the session, the bullion fell as much as 1.2 per cent to $1,159.96, its lowest since January 2017. US gold futures were down 1.1 per cent at $1,172.7 an ounce. The…

FPIs infuse Rs 8,500-crore in capital markets in just 8 trading sessions Foreign investors have pumped in over Rs 8,500 crore into the Indian capital markets in the last eight trading sessions on improvement in crude oil prices, stabilising rupee and better corporate earnings. The latest fund infusion comes following a net inflow of over Rs 2,300 crore in the capital markets — equity and debt — last month. Prior to that, overseas investors had pulled out over Rs 61,000 crore during April-June. According to the latest depository data, foreign portfolio investors (FPIs) pumped in a net sum of Rs…

Circular debt of Rs1.1trillion passed on to new Govt Though the previous Pakistan Muslim League-Nawaz (PML-N) government claimed to have brought about improvement in power production, it still passed on a gigantic circular debt of Rs1.148 trillion to the new government of Pakistan Tehreek-e-Insaf (PTI), which faces a bumpy road ahead. The PML-N had come up with a slogan in 2013 that it would bring load-shedding to an end during its five-year tenure. It solely focused on setting up thermal power plants to increase electricity production, but failed to streamline and upgrade the transmission and distribution network, which could not…

PAKISTAN: Samsung is Working on a Self-Healing Oleophobic Coating for Smartphones: With the display being one of the more important components in their flagship phones, Samsung is enhancing the protection standards of these devices by introducing a new type of oleophobic coating. The oleophobic coating consists of a thin layer applied on top of a smartphone display to keep fingerprints off. It is now an inevitable addition in most modern smartphones, which is why it is not mentioned too often. [divider style=”normal” top=”20″ bottom=”20″] AliPay Pakistan to Start Its Operations By the End of This Year: Alibaba’s Alipay, the online…

In collaboration with China, Saudi Arabia and Turkey, Pakistan can actually become an investment’s paradise: Mian Zahid Hussain President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Wednesday said that providing 50 percent subsidy on approved seeds of cotton, and 110 thousands smart phones with latest applications of information on cotton production to farmers by the Government of Punjab is appreciative and will help in achieving the targeted cotton yield for the current year of 10 million bales. Research on increased yield of…

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 7.48 7.98 1 – Month 7.51 8.01 3 – Month 7.68 7.93 6 – Month 7.80 8.05 9 – Month 7.87 8.37 1 – Year 7.95 8.45 2 – Year 8.41 8.91 3- Year 8.76 9.26

[box type=”info” align=”” class=”” width=””]Published in collaboration with the Observer Research Foundation [/box] This article is part of the World Economic Forum’s Geostrategy platform The Silk Road calls to mind an image of the distant past, where traders traversed the vast expanse of Eurasia in pursuit of silk, spices and various other commodities. Today, China is attempting to revive these once forgotten routes as part of Xi Jinping’s signature Belt and Road Initiative (一带一路倡议: BRI). However, while much ink has been spilled on the subject of China’s growing network of port, pipeline, rail, and road infrastructure projects, there is one overlooked component of…

[box type=”info” align=”” class=”” width=””]Jana Javornik, University of East London[/box] The UK is one of the few countries to require employers with over 250 employees to disclose their gender pay gap data. New regulations came into force in April 2017, and 10,527 employers have now submitted their figures. They offer some useful lessons in how to make pay more equal for men and women. 1. There’s still confusion The gender pay gap and pay equity are often conflated. The gender pay gap shows the difference in the average hourly wage of all men and women across a workforce. The gap…

[box type=”info” align=”” class=”” width=””]Brian Lucey, Trinity College Dublin and Shaen Corbet, Dublin City University[/box] The rollercoaster of cryptocurrency pricing is on the downward slope again. Bitcoin has fallen by a quarter in the past month, with other large currencies such as Ethereum and Ripple down more than 40%. So where does this latest bout of losses leave cryptocurrencies? Sceptics point to the multitude of regulatory issues and avenues for fraud and outright theft. Advocates continue to insist that these are the “future of finance”. One of the reasons for the latest sell-off is that investors are selling their…

[box type=”info” align=”” class=”” width=””]Steve Barha CEO, Instant Financial[/box] From San Francisco to South Africa, the issue of fair pay is the subject of furious debate around the world – and for good reason. Increasingly, working full-time, or even two or three jobs, is not enough to lift people out of poverty. In the US alone, close to 10 million working people live below the poverty line; in the UK, more than 14 million people are classified as working poor. But ending that poverty isn’t as simple as paying people more. As governments look to combat stagnant wages, particularly in entry-level jobs, some businesses are struggling to absorb wage hikes.…

[box type=”info” align=”” class=”” width=””]Published in collaboration with the RAND Corporation[/box] This article is part of the World Economic Forum’s Geostrategy platform At the final Nuclear Summit of his presidency in Washington, D.C., in 2016, Barack Obama said the risk of ISIS or other extremist groups acquiring nuclear weapons remains “one of the greatest threats to global security.” A number of terrorist groups, including ISIS and al-Qaeda, have expressed explicit intentions to acquire and use nuclear material. However, countries face far more pressing threats than nuclear terrorism and authorities would be better off focusing on insurgents’ frequent use of conventional weapons, such as…

[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Aug 13, 2018[/box] The 5G revolution is just around the corner. Destined to replace 4G networks by improving speed, coverage and reliability, 5G is becoming necessary due to the increasing prevalence of devices requiring internet access and the high level of bandwidth necessary for them to function efficiently. Of course, network speeds will vary depending on the technology being used with peak speeds expected to be at least 20 times faster than 4G. For example, you could download 20 movies over 5G in the time it takes to download one in 4G from a peak speed perspective. So, when…

[box type=”info” align=”” class=”” width=””] by Sarah Feldman, Aug 14, 2018[/box] President Trump, who fired people on reality TV, seems to have taken those hiring practices into the White House. Most recently Omarosa Manigault Newman, one of Trump’s many fired former staffers, came forward with a tape of the president, generating a new look at the many senior level White House staff to come and go within the first two years of this presidency. When looking at the five presidents to precede Trump, the 45th president’s hiring practices are as unusual as his pre-political career in television. In Trump’s first year the turnover rate…

[box type=”info” align=”” class=”” width=””]by Sarah Feldman, Aug 14, 2018[/box] The Turkish lira dropped to record lows Friday, a dramatic fall that is part of a year-long 66 percent decline in the currencies market value. There are several contributing factors to this plunge. The lira has not done well this year compared to the dollar with inflation rates topping 15 percent. The markets have become skittish by the Turkish government’s persistent unwillingness to raise interest rates to combat inflation. Erdogan has further antagonized the market by encouraging Turks to swap dollars for gold. In addition to domestic mishandling of the brewing financial problem, Donald Trump has imposed…

[box type=”info” align=”” class=”” width=””]by Raynor de Best, Aug 13, 2018[/box] The United Kingdom is to leave the European Union on March 29, 2019, but a final deal has yet to be agreed between Westminster and Brussels. In the event of a “no-deal Brexit”, the UK leaving the EU single market and customs union without a free trade deal, Britain would have to adopt rules set by the World Trade Organization (WTO). This scenario could mean that airline licenses, medicine certifications and certain citizen rights end overnight along with an increase in bureaucratic checks on goods and people passing in and out…

Market Review Market activity during the outgoing week remained range bound, with the index closing at 42,924pts, down by 0.1%WoW (36pts). During the week market participation remained lackluster as evident from ADT and ADTV that declined by 38%WoW and 29%WoW, respectively. Foreign investors also exhibited a net outflow of USD36.4mn. During the week, APCMA released the latest figures for cement dispatches which increased by 5%YoY in Jul’18 as a result of slowdown in construction activity due to general elections and monsoon season in North. Furthermore, sales of petroleum, oil and lubricants declined by 30%YoY in Jul’18 on the back of…

Dull trading as lack of triggers keep volume down; index marginally moves up Summary It was lackluster trading week with volume decreasing to 208m from 251m last week. Mostly it was range bound trading as investors kept waiting for the formation of the new Pakistan government, which was denied by the Election Commission as it put on hold the Official Election results. Brewing up in the Index is the outburst for upward climb once the government formation process is complete and economic policies are outlined. The Index is therefore hovering around 40,000 level although technically it can dip up to…

Black Panther is among the films which could be recognised in the new category Published in BBC, Aug 8th, 2018 The Oscars are introducing a new category for outstanding achievement in popular film. It’s among three changes which were approved on Tuesday by the Academy’s board of governors. It means films which are popular with the public but less so with critics will be more likely to win an Oscar. Superhero films such as Black Panther are among those which could now stand a much better chance of being recognised during awards season. It’s understood the change will come…

Published in ARY News, Aug 8th, 2018 BEJING: Who’s afraid of Winnie the Pooh? The Chinese government, apparently. Chinese censors have banned the release of Christopher Robin, a new film adaptation of AA Milne’s beloved story about Winnie the Pooh, according to the Hollywood Reporter. The Winnie the Pooh character has become a lighthearted way for people across China to mock their president, Xi Jinping, but it seems the government doesn’t find the joke very funny. It started when Xi visited the US in 2013, and an image of Xi and then President Barack Obama walking together spurred comparisons…

Published in BBC News, Aug 8th, 2018 US actor Brad Pitt has rebutted claims made by his estranged wife Angelina Jolie that he has failed to support their children. In a court filing on Wednesday, the star’s legal team said he had paid more than $1.3m (£1m) in costs and loaned $8m to Jolie to help her buy a house. On Tuesday, Jolie’s lawyer said Pitt had paid “no meaningful child support” since she filed for divorce in 2016. The couple had been together since 2005 but only married in 2014. In the documents, Pitt’s lawyers also said Jolie’s…

‘The Valkyrie’ Published in Gulf News, Aug 8th, 2018 Staff Report ‘The Valkyrie’ will play under the artistic direction of German composer Richard Wagner’s great granddaughter For the first time ever, the Bayreuth Festival steps out of its specially designed home, the Festspielhaus, and brings one of its creator’s, German composer Richard Wagner’s, operas to the UAE’s capital. Part of Abu Dhabi Classics, organised by the Department of Culture and Tourism — Abu Dhabi, The Valkyrie will debut on January 30 and February 1 at Emirates Palace, Abu Dhabi. The musical drama has been perfected under the artistic direction of Katharina…

Condoleezza Rice led a commission that suggested reforms in college basketball in April. The N.C.A.A. announced rules changes on Wednesday.CreditDarron Cummings/Associated Press Published in The New York Times, Aug 8th, 2018 By Marc Tracy College basketball players who declare for the N.B.A. draft will be allowed to hire agents after two N.C.A.A. boards adopted a series of reforms to the sport’s rules on Wednesday. The changes, which also could apply to certain high school players if the N.B.A. changes its draft rules, were made as the N.C.A.A. continues to grapple with the fallout of the federal indictments last year that suggested extensive corruption…

David Richardson Published in Gulf News, Aug 7th, 2018 AFP ‘If you are wearing sunscreen, sucking a mint or chewing gum with the intent of using the cream or the sugary saliva on the ball, you are ball-tampering’ London: Global cricket boss David Richardson declared that ball tampering and bad behaviour threatened ‘cricket’s DNA’ and would not be tolerated by fans in the wake of the Australia cheating scandal. The International Cricket Council chief executive said the “public has spoken” on bad behaviour in the game as he delivered the annual MCC Spirit of Cricket Cowdrey Lecture at Lord’s…

Josh Hazlewood and Pat Cummins at a training drill Getty Images Published in ESPN, Aug 4th, 2018 By ESPNcricinfo staff Pat Cummins and Josh Hazlewood, two of Australia’s premier quicks, will not be available for the Test series against Pakistan in October. Both men are undergoing rehabilitation for back injuries and, according to physiotherapist David Beakley, will not be able to recover in time to play the two-Test series in the UAE. “Pat and Josh are progressing well from their lumbar bone stress injuries but are not bowling, so, unfortunately, they will not be at the level required for Test match intensity…

The nine winners on PCB’s annual award night in Karachi CricInfo Published in ESPN, Aug 7th, 2018 Mohammad Abbas, Hasan Ali and Babar Azam were among the big winners at the Pakistan Cricket Board’s annual awards night in Karachi on Wednesday. Abbas was named the Test Cricketer of the Year, while Hasan and Babar walked away with the corresponding honour in ODIs and T20Is. Abbas had a phenomenal introduction to Test cricket in April 2017, and in the five Tests that Pakistan played over the last 12 months, the 28-year old swing bowler has picked up 27 wickets in five Tests at an average of…

Afghanistan’s Rashid Khan bowls during a One Day International in India. The leg-spinner could be one of the top picks in the five-team Afghanistan Premier League, to be held in Sharjah. Published in Gulf News, Aug 8th, 2018 By K.R. Nayar, Chief Cricket Writer First edition of cricket event gets approval from International Cricket Council Sharjah: The Afghanistan Premier League T20 tournament to be held at the Sharjah Cricket Stadium will commence on October 5. The league has been granted approval by the International Cricket Council, following an application that was submitted by the Afghanistan Cricket Board (ACB) last month.…

Kepa has made one appearance for Spain. Published in CNN, Aug 9th, 2018 (CNN) This has been the summer of the goalkeeper. Weeks after Liverpool paid a world record fee for Brazil No.1 Alisson, Chelsea is edging closer to eclipsing the mark set by its English Premier League rival after Athletic Bilbao keeper Kepa Arrizabalaga paid his release clause of $91 million Wednesday, allowing him to leave the La Liga outfit ahead of a proposed move to London. Should the deal be completed, it would be more than the $68 million Liverpool paid for Alisson in July and would also be a…

Published in Dawn, Aug 9th, 2018 By Syed Irfan Raza ISLAMABAD: President Mamnoon Hussain has summoned the new session of the National Assembly on Aug 13, approving a summary sent to him by caretaker Prime Minister Nasirul Mulk for the purpose. The prime minister forwarded the summary on Thursday after the Pakistan Tehreek-i-Insaf (PTI) called upon the interim government to summon the session of the lower house so that the process of formation of the new government could take place. The PTI also asked President Hussain to drop his plan to proceed to Ireland on a three-day official visit on…

“There is nothing to mediate. A mistake has been made and a mistake should be corrected,” says Foreign Minister Adel Al Jubeir. Published in Gulf News, Aug 8th, 2018 By Habib Toumi, Bureau Chief Riyadh has the sovereign right to decide how to move forward, says Russia Manama: Saudi Arabia said on Wednesday it was “considering additional measures” against Canada, adding that there was no room for mediation in the kingdom’s escalating diplomatic dispute with the country, and that Ottawa knew what it needed to do to “fix its big mistake”. “There is nothing to mediate. A mistake has…

Tsinghua University is one of the most influential institutions in China. Photo: iStock Published in Asia Times, Aug 8th, 2018 By GORDON WATTS Communist Party orders a crackdown following a call for ‘patriotic education’ after academics question Beijing’s ‘road ahead’ In the seaside resort of Beidaihe in Hebei province, the temperature was a balmy 25 degrees Celsius on Thursday with occasional cooling showers. But in Beijing, it was distinctly frosty as domestic dissent in China echoed through cyberspace and the trade cold war with Washington showed no signs of thawing. Nearly 260 kilometers, or 161 miles, from the hustle and bustle…

A group of protesters outside the Grand Bazaar in Tehran, Iran, June 25, 2018 (ILNA photo via AP Images). Published in World Politics Review, Aug 2nd, 2018 A few years after Iran’s 1979 revolution, Ayatollah Ruhollah Khomeini disregarded an aide who was worried about inflation by declaring that “this revolution was not about the price of watermelons.” His successors may not have the luxury of assuming that the Islamic Republic’s religious essence is more important to most Iranians than their economic situation. Indeed, the proverbial price of watermelons has now plunged Iran into a potentially explosive economic crisis, with…

Canada dispute won’t affect oil sales: Saudi Saudi Arabia’s diplomatic dispute with Canada over its arrest of women’s rights activists will not affect the Kingdom’s oil sales to Canadian customers, the Saudi energy minister said on Thursday. The remarks by Khalid Al Falih show the limits of the ongoing quarrel and may calm the dispute that suddenly erupted on Monday over Canadian diplomats’ tweets asking the Kingdom to release the detained activists. A statement carried by the state-run Saudi Press Agency quoted Al Falih as saying oil sales are not affected by politics as there is a “firm and longstanding…

Black money in Swiss banks: India, Switzerland discuss activation of automatic exchange of information India and Switzerland discussed the activation of automatic exchange of information relating to black money stashed by Indians in secret accounts in Swiss banks. The issue figured prominently during talks between External Affairs Minister Sushma Swaraj and her Swiss counterpart Ignazio Cassis here, officials said. Black money has been a major issue in India and banks in Switzerland have long been perceived as one of the safest havens to park such funds due to their their famed secrecy walls for years. “Following on Indian government’s drive…

Pak in a weak position in FTA with China Although China calls Pakistan and itself iron brothers, when it comes to trade, Pakistan stands at a weaker position in comparison to India, which is Beijing’s adversary in regional politics but has a better free trade agreement (FTA). The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) held a nationwide online roundtable conference on Pak-China FTA in an effort to prepare itself for a meeting with Asad Umar, the man tipped to be next finance minister. The conference was attended by representatives of the business community, academia and government departments.…

PAKISTAN: Hisense Enters Pakistani Market With Its Locally Produced LED & Laser TVs: Chinese LED TV manufacturer, Hisense, has announced to start its production and sales in Pakistan. Tri-Angels Electronics established its first assembly line while its “Clean Laboratory” is under process and will be completed in January 2019. Tri-Angels Electronics has made a 2.8 million investment to establish Hisense’s production and sales network. [divider style=”normal” top=”20″ bottom=”20″] The Samsung Galaxy Note 9 is Here!: The smartphone that we have been waiting for quite a while is finally here. Meet the Samsung Galaxy Note 9, featuring beefed up hardware and…

Avanza and Premier to establish fastest and most reliable payment gateway of Pakistan By Shabbir Kazmi Avanza Group and Premier Systems signed an agreement to formally establish Avanza Premier Payment Services (APPS) Pakistan’s fastest and most reliable domestic online payment gateway. APPS will deploy an E-commerce and M-commerce payment gateway and merchant digitization service. S. Arshad Raza, CEO, Premier Systems said, “We have many international partners, but now we have a domestic player embracing the digital economy and enriching it by providing substantially convenient payment solutions. Pakistan is at the cusp of a digital revolution and we are proud 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 7.39 7.89 2 – Week 7.42 7.92 1 – Month 7.47 7.97 3 – Month 7.68 7.93 6 – Month 7.80 8.05 9 – Month 7.85 8.35 1 – Year 7.94 8.44 2 – Year 8.40 8.90 3- Year 8.74 9.24

[box type=”info” align=”” class=”” width=””]Elizaveta Fouksman, University of Oxford[/box] Want to get rid of poverty, lessen inequality and provide financial stability in a world of precarious work? Well, why not simply give everyone enough money to ensure basic sustenance? This is the deceptively simple solution proposed by advocates of universal basic income (UBI). Just transfer enough money to everyone, every month, to guarantee a basic livelihood. The policy is universal and unconditional (you get it no matter who you are or what you do). This means no bulky bureaucracy to administer the programme, or onerous reporting requirements on the poor.…

[box type=”info” align=”” class=”” width=””]Emre Tarim, Lancaster University[/box] Global markets are on edge once again, this time thanks to the Turkish lira. It crashed more than 15% against the US dollar, euro and pound sterling on August 10 and continued to fall when markets reopened after the weekend on August 13. The latest trigger was Donald Trump’s announcement that he would double import tariffs on Turkish steel and aluminium. But the lira has been falling consistently over the past year as markets fear for the president’s increasing control over the economy. With their mammoth depth and reach, global currency markets…

[box type=”info” align=”” class=”” width=””]Leora Klapper Lead Economist, Development Research Group, World Bank[/box] Nearly 800 million people globally live in extreme poverty, estimates the World Bank. Africa is home to more extremely poor people than all other regions combined. Most of the poor have low educational attainment and work in agriculture. What can we do about it? The United Nations Sustainable Development Goals provide a snapshot of current thinking on poverty reduction. One of the goals focuses on improving schools, for example. Others call for better jobs and lower corruption. I want to argue for a solution that touches on all of these…

[box type=”info” align=”” class=”” width=””]Joe Myers Formative Content[/box] The United Arab Emirates is the Arab world’s most competitive economy, according to a new report by the World Economic Forum and the World Bank Group. The UAE was ranked 17th on the latest Global Competitiveness Index (GCI) putting it ahead of Qatar (25th) and Saudi Arabia (30th) among regional economies. The Arab World Competitiveness Report 2018 explores trends, challenges and opportunities for countries in the region. A mixed picture A handful of countries in the region have made efforts to reform and increase investments to improve competitiveness. However, in many respects the…

[box type=”info” align=”” class=”” width=””]by  Felix Richter, Aug 6, 2018[/box] 10 years ago, in early August 2008, the website Airbedandbreakfast.com went online, marking the birth of Airbnb. Back then the three founders, Brian Cheky, Joe Gebbia and Nathan Blecharczyk wanted to help short-term travelers find affordable accommodation and provide renters with an opportunity to make an extra buck by renting out spare rooms or even just the namesake airbed on the floor. Little did they know that 10 years later their little venture would be one of the hottest private companies in the world, valued at nearly $30 billion. Over the years, Airbnb…

[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Aug 6, 2018[/box] According to telecoms regulator Ofcom, the number of voice calls made on mobile phones in the UK declined for the first time ever last year. That’s despite people being glued to their smartphones and nearly 8 out of every 10 adults owning one. Ofcom data published by the BBC provides an interesting look at how digital device ownership has evolved in the UK over the past ten years. Back in 2008 when smartphones were in their infancy, only 17 percent of people owned one. That has now increased to 78 percent. Many devices are on the…

[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Aug 3, 2018[/box] A severe heat wave and relentless drought have damaged fields and reduced crop yields across Europe. Recent satellite images have highlighted the impact of the weather with fields turned yellow and brown when they should be green at this time of year. The conditions have resulted in farmers across the EU calling for government support. For example, German farmers are calling for a special aid package of €1 billion to help cover their losses. The following infographic uses the EU Commission’s Monitoring of Agricultural Resources (MARS) forcecast to highlight the impact on the 2018 wheat harvest. Things…

[box type=”info” align=”” class=”” width=””]by Felix Richter, Aug 3, 2018[/box] Despite the news that Apple lost its second place in the smartphone market to Huawei in the past quarter, the iPhone maker became the first company to reach a market capitalization of $1 trillion on Thursday*. Following the release of better-than-expected results on Tuesday, the company’s share price climbed almost 6 percent on Wednesday and continued its upward trend on Thursday.While some news outlets had already reported that Apple passed the $1 trillion threshold shortly after U.S. markets opened on Thursday, they didn’t consider the fact that Apple updated its outstanding share count on Wednesday,…

Company is committed to expand by attracting national and international investors KPOGCL was incorporated as a Public Sector Enterprise (PSE) on 8th February, 2013 under Section 32 of the Companies Ordinance, 1984. Later, KPOGCL was declared as fully-owned Provincial Holding Company (PHC) of GoKP pursuant to clause 4.1.3 (6) of Petroleum Exploration and Production Policy-2012. The Company is established to engage in Oil & Gas Exploration and Production, including development and sale of oil and gas and related activities. The Company also provides Technical, Security, Marketing services to other National and International Exploration & Production and service Companies. KPOGCL turned around…

Market Review The week started off on a positive note as uncertainty regarding hung parliament was put to rest. Consequently, the market reacted positively where the index gained 1,468pts in the first two sessions of the week; however, profit taking in the next session eroded some of the gains and the index eventually closed at 42,330pts, up by 0.6%WoW. Market participation remained heightened throughout the week as evident from ADT and ADTV that increased by 65%WoW and 72%WoW, respectively. Foreign investors exhibited a net outflow of USD11.1mn. During the week, National Transmission and Dispatch Company connected Engro’s 660MW and Hubco’s…

Index tad lower as investors eye economic policies after elections Summary It seems investors are keenly watching the developments through reports and statements issued by expected government officials on economic policies, which are discounted for in the PSX index flow. The recent conduct of the sale of 3-month treasury bill only attracted investors while not a single bid was submitted by the investors for the sale of 6 and 12 months. During the week, the KSE-100 Index was bullish for three days while bearish for two days. The Index shed 281 points to close at 42,505.05. The volume improved to…

Gul Makai is based on the life of Nobel Prize winner Malala Yousafzai. Photo: Gul Makai Instagram Published in GEO Tv, Aug 3rd, 2018 Amjad Khan who will be directing the Malala Yousafzai biopic Gul Makai says he did not take permission from Yousafzai or her family for the film. In an interview, the Indian film director said, “No, I haven’t. But I think she and her family know that an Indian film director is making a film about her. But yes, I wish to show her the film once it is releasing.” He added that making a biopic on a person…

Published in ARY News, Aug 3rd, 2018, Web Desk Sport biopics seem to be the flavour of the season as several films have been made on players such as Mahendra Singh Dhoni, Milkha Singh, Mary Kom and various others. Furthermore, Shraddha Kapoor will be seen playing badminton player Saina Nehwal while Harshvardhan Kapoor is gearing for the role of retired professional shooter Abhinav Bindra. Another biopic may be in the offing on Indian ace tennis player Sania Mirza. The former world No. 1 in doubles has won six Grand Slam titles, is also a well-known figure in Pakistan due to…

Published in ARY News, Aug 2nd, 2018 By Reuters LOS ANGELES: Madonna on Monday launched a $60,000 (£45,675) fundraiser to support her work with children in Malawi, and had already raised more than $10,000 in the first 24 hours. The “Rebel Heart” singer, who has adopted four children from the African nation in the past 10 years, said 100 percent of every contribution would go directly to her Raising Malawi foundation’s rural orphanage, Home of Hope. She launched the fundraiser, which will run throughout August, through her Facebook page to mark her 60th birthday on Aug. 16. “For my birthday, I…

CREDIT: COURTESY OF ARKA MEDIA WORKS Published in Variety, Aug 2nd, 2018 By NAMAN RAMACHANDRAN Streaming giant, Netflix has announced “Baahubali: Before The Beginning,” a two season original series that runs as prequels to the blockbuster films “Baahubali: The Beginning” and “Baahubali 2: The Conclusion.” The features, were smash hits for director S.S. Rajamouli and producers Shobu Yarlagadda and Prasad Devineni at Arka Mediaworks. Released worldwide between 2015 and 2018, the “Baahubali” films were made on a combined budget of $70 million and collected $370 million globally. Presented in Tamil and Telugu, the films featured South Indian stars Prabhas, Rana Daggubati, Ramya Krishnan,…

Mishal Husain of Radio 4’s Today and Nicky Campbell from 5 Live Breakfast Published in BBC, Aug 1st, 2018. BBC Radio 4’s Today programme and 5 Live Breakfast lost listeners this spring, industry figures show. Today’s audience dropped by 839,000 year-on-year, while 5 Live Breakfast was down 337,000, according to Rajar, which monitors UK radio listening. The BBC said a quieter news agenda in the second quarter of this year was partly to blame. Last spring saw a snap general election, the Grenfell Tower fire and three terrorist attacks in the UK. The BBC said: “There were record figures (7.82 million)…

Abdul Hamid Al Jani (right) from the UAE National Olympic Committee is confident the country can better its previous best haul of ten medals at an Asian Games as a huge squad of 138 athletes in 23 sporting disciplines departs to represent the UAE at the 18th Asian Games at Jakarta and Palembang, Indonesia later this month. Published in Gulf News, Aug 2nd, 2018 By Alaric Gomes, Chief Reporter Al Jani insists 138-strong squad chosen with medals in mind at Indonesia 2018 Dubai: The UAE is confident of notching their best-ever medal haul as Humaid Mohammad Al Qatami, vice-president of the…

Lewis Hamilton celebrates with the trophy after winning the Hungarian Grand Prix. Published in NDTV Sports, July 29th, 2018 It was Lewis Hamilton’s record sixth win in Hungary, his fifth this season and the 67th of his career. Lewis Hamilton strengthened his push for a fifth world title by increasing his championship lead to 24 points on Sunday as he claimed a convincing victory for Mercedes in the Hungarian Grand Prix. The defending world champion came home 17.123 seconds ahead of title rival and fellow four-time champion Sebastian Vettel of Ferrari after the German had survived a collision with Valtteri Bottas, in…

Published in Ary News, Aug 2nd, 2018 by Reuters MANCHESTER:  England’s Football Association (FA) is carrying out a study into the feasibility of hosting the 2030 World Cup finals, FA chairman Greg Clarke said in a statement on Wednesday. England, who hosted the World Cup in 1966, failed in their most recent attempt to win the rights for the 2018 tournament, which was held in Russia. “Last month the English FA board agreed to conduct feasibility work into the possibility of putting itself forward to be UEFA’s potential candidate to host the 2030 FIFA World Cup,” Clarke said. “This work…

Published in The News, Aug 1st, 2018 England are playing their 1,000th Test match from August 1 at Edgbaston in Birmingham. They have become the first country to reach this milestone in the 142-year history of Test cricket. England along with Australia are the pioneers of Test cricket as both countries began playing in this format of the game from 1877. The first ever Test match was played between the two countries on March 15-19, 1877 at the Melbourne Cricket Ground (MCG) in the Australian city of Melbourne. The first ever English captain was James Lillywhite, who led the team…

Published in ARY News, Aug 1st, 2018, Webdesk KARACHI: President Sindh Golf Association (SGA) Asad Khan on Wednesday announced to stage 20th Sindh Open Golf championship from August 3-5 at Arabian Sea Country Club in Karachi. Addressing a presser here at Karachi Press Club, he said that this will be the 20th consecutive year that the SGA is organising this event that paved the path for budding golfers to showcase their talent. The championship will be comprised of two events, the first one will be played over 56 holes featuring professionals and amateurs whereas in the second event junior professionals,…