Published in Samaa, Aug 2nd, 2018 France’s Ligue 1 will use the video assistant referee (VAR) system in every game in the coming season, the French football federation said on Wednesday. The French league voted in December to adopt VAR and the technology was tried out in the later stages of the League Cup and French Cup and in the end-of-season promotion playoffs. VAR was used at the World Cup in the summer and will be employed in similar situations in France. The system will be operated by two video officials supported by one or two technicians. At the World…
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Published in Dawn, Aug 2nd, 2018 by Fahad Chaudhry Pakistan Tehreek-i-Insaf chairman and prime minister-designate Imran Khan has decided against inviting foreign dignitaries and celebrities to his planned oath-taking ceremony, instead opting for a simple event, DawnNewsTVreported on Thursday. The PTI, having bagged 115 NA seats and after securing the support of key allies and roping in several independent winners, looks set to form the next government, with its chairman in pole position to become the next PM of Pakistan. To celebrate the fulfillment of Khan’s long-held wish to become the premier, the party had initially planned to invite several foreign personalities, with…
Chinese President Xi Jinping is received by Sheikh Mohammed bin Rashid Al Maktoum, vice president of the United Arab Emirates, after his arrival in Abu Dhabi, July 19, 2018 (Photo by Mohamed Al Hammadi for Emirates News Agency via AP Images). Published in World Politics Review, July 30th, 2018 by Kyle Haddad-Fonda As dusk fell in Abu Dhabi on July 20, the LED screen affixed to the face of the 65-story headquarters of the emirate’s national oil company presented a peculiar sight: a photograph of Chinese President Xi Jinping stretching over 1,000 feet high, looming over the Persian Gulf. In…
Published in BBC, Aug 2nd, 2018 by Daniel Kraemer It would be easy to forget that MPs have more to do than trying to sort out Brexit. It has dominated politics, but has it stopped Parliamentary business-as-usual? What have MPs done in the last year? Since Parliament opened last June, the government has introduced 39 bills. Twenty-six of them became law in the 177 House of Commons sitting days before parliamentarians went on their summer break last week. Is this particularly slow progress? These numbers are not significantly lower than other recent years. Given that Theresa May’s party does not…
Published in Dawn, July 31st, 2018 United States’ Secretary of State Mike Pompeo has warned that the US would closely be watching whether the International Monetary Fund (IMF) bails out Pakistan — a key player in China’s One Belt One Road (OBOR) project, and right now in need of a bailout. “Make no mistake, we will be watching what the IMF does,” Pompeo stated in an interview to CNBC after saying that he would welcome mutually beneficial engagement between the US and Pakistan. “There’s no rationale for IMF tax dollars — and associated with that, American dollars that are part of the IMF…
Senator Jeanne Shaheen (D-NH) speaks about U.S. President Donald Trump’s decision not to impose sanctions on Russia during a media briefing on Capitol Hill in Washington, U.S., January 30, 2018. REUTERS/Joshua Roberts Published in Reuters, Aug 1st, 2018 by Joel Schectman WASHINGTON (Reuters) – The U.S. Congress is sending President Donald Trump legislation that would force technology companies to disclose if they allowed countries like China and Russia to examine the inner workings of software sold to the U.S. military. The legislation, part of the Pentagon’s spending bill, was drafted after a Reuters investigation last year found software makers allowed a…
An Israeli soldier guides a mobile artillery piece near the border with Syria in the Israeli-controlled Golan Heights, July 25, 2018 (AP photo by Ariel Schalit). Published in World Politics Review, Aug 1st, 2018 by Emily Burchfield Russian Foreign Minister Sergey Lavrov made a surprise visit to Israel last week for talks about Iran’s military entrenchment in Syria. The negotiations came amid heightened tensions along Syria’s southern border with Israel, where the Assad regime’s recent offensive to retake lost territory from rebels renewed conflict in an area that had been protected by a 2017 cease-fire agreement guaranteed by Russia, Jordan and the…
Dubai to host technology summit in October The 3TECH Summit brings together global leading experts in Artificial Intelligence, blockchain, and Internet of Things to challenge them on how these 3 TECHnologies will converge in the future. Organised by AEBICON Group DMCC, this is the first event of its kind and is due to be held on October 15, 2018 in Dubai. In a ceremony held on July 30, 2018, at the Private Office of Sheikh Hamdan bin Mohammed Al Nehayan and AEBICON Group DMCC signed a Memorandum of Understanding to formalize the strategic partnership between both parties. In addition to…
NPA crisis at Indian banks is mostly because of bad loan concentration in this one sector India’s government seems intent on abandoning good ideas for dealing with the country’s banking crisis and encouraging bad ones. Perhaps that shouldn’t be surprising, given that the bureaucrats don’t yet seem to have grappled with the real nature of the problem. The latest terrible proposal for dealing with the bad loans weighing down India’s state-owned banks, which control more than two-thirds of deposits, is to create a “bad bank” — an asset-management company that would take stressed assets off their balance sheets. Naturally, the…
Foreign office warns against unsanctioned comments The Foreign Office has warned government functionaries against issuing unauthorised comments about the China-Pakistan Economic Corridor (CPEC) after a statement by a senior official of the Planning Commission caused stir in Beijing. Barring government officials may further raise transparency concerns, as contracts under CPEC are shrouded in mystery. In an article published on July 22, the Wall Street Journal had quoted the Planning Commission’s chief economist as saying that China should rescue Pakistan with an interest-free loan. Otherwise “for what do we have this friendship [for]?” Terming such remarks ‘highly irresponsible’, the Foreign Office…
NBP President stresses for strong industry-academia linkages “Strong linkage between the financial services sector and academia is an important tool for boosting intellectual capital in the financial services industry and in finding better solutions for the current economic challenges of Pakistan”. These thoughts were expressed by President National Bank of Pakistan (NBP) Mr. Saeed Ahmad during his visit to University of Karachi (UoK). Professor Dr. M. Ajmal Khan S.I., Vice Chancellor of UoK welcomed Saeed Ahmad and his team at the university and expressed his gratitude to NBP for considering the UoK for its Corporate Social Responsibility (CSR) spending. NBP…
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 7.38 7.88 2 – Week 7.42 7.92 1 – Month 7.48 7.98 3 – Month 7.68 7.93 6 – Month 7.78 8.03 9 – Month 7.86 8.36 1 – Year 7.93 8.43 2 – Year 8.37 8.87 3- Year 8.72 9.22
[box type=”info” align=”” class=”” width=””]Isobel Anderson, University of Stirling and Regina Serpa, University of Stirling[/box] As one of the few remaining societies with a state-led Communist economy, Cuba’s housing has taken a distinctive social and economic path since the 1959 revolution. However, in July, the National Assembly of Cuba approved a new draft constitution that recognises a wider role for market mechanisms, including freeing up the market in residential private property. This economic restructuring builds on a prior modernisation programme – the 2011 Lineamientos reform package, which initially allowed for Cubans to buy homes – and aims to boost annual…
[box type=”info” align=”” class=”” width=””]Michael Loughlin, Nottingham Trent University[/box] If you work in an office, the chances are there are some colleagues you would rather sit next to than others. But we’re not just talking personality likes or dislikes here – what can also be a factor is how clean they keep their desk. The average office desk is said to contains 400 times more germs than a toilet seat – meaning that many office workers could be at risk of sickness due to dirty desks. Research by the University of Arizona found that humans are the most common source…
[box type=”info” align=”” class=”” width=””]This article is published in collaboration with Chatham House[/box] This article is part of the World Economic Forum’s Geostrategy platform Over half of the world’s least developed and lowest income countries are currently exploring for oil and gas or hoping to expand existing production. Yet tightening climate policies and shifting energy investment trends suggest that the time frame for profitable oil and gas production will be limited. This fundamentally changes the prospects for developing countries that hope to use fossil fuels as a ‘leading sector’ for growth over the next decade. Central banks and regulators, investors and…
[box type=”info” align=”” class=”” width=””]This article is published in collaboration the International Institute for Strategic Studies[/box] This article is part of the World Economic Forum’s Geostrategy platform US withdrawal from political leadership on climate issues may further erode the country’s influence in the Asia-Pacific, a major climate security conference has heard. Regional powers could be left to form new multilateral relationships that address the climate change threat, the event’s keynote speaker said. The concerns were raised at a conference held by the Japanese Ministry of Foreign Affairs in Tokyo on 12 July. It took place against a backdrop of unprecedented rainfall, leading…
[box type=”info” align=”” class=”” width=””]Juergen Voegele Senior Director, Food and Agriculture Global Practice, World Bank[/box] Technology has revolutionized agriculture at regular intervals, from the invention of the ox-drawn plough in ancient Egypt, to the first gas-powered tractor at the beginning of the 20th century. In the 1960s, the Green Revolution rolled out high-yielding cereal seeds, chemical fertilizers and pesticides. The Fourth Industrial Revolution is no different. In 2017, a robotic farm in the UK harvested its first fully machine-operated crop. Five tons of barley were sown, fertilized and harvested by autonomous vehicles. In the next two to three years, digital technologies in agriculture…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Jul 18, 2018[/box] The European Commission has hit Google with a record-breaking antitrust fine on Wednesday. The search giant has been ordered to pay €4.34 billion ($5.1 billion) for abusing Android’s dominant position in the smartphone market to strengthen its position in other areas such as web search, browsing and mobile apps. Google has already announced that it’s going to appeal against the ruling. In April 2016, the European Commission started its investigation against Google for allegedly breaching EU antitrust rules. The company was accused of requiring device manufacturers to pre-install Google Search and the company’s Chrome browser as a condition…
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Jul 20, 2018[/box] Nowadays, Microsoft’s strong financial results are heavily reliant on the cloud side of its business and the most recent quarterly results are no exception. Of the total $30.1 billion revenue recorded, 9.6 was from the segment ‘Intelligent Cloud’ – a new high which translated to $3.9 billion of operating income. [ads1] You will find more infographics at Statista
[box type=”info” align=”” class=”” width=””]by Felix Richter, Jul 17, 2018[/box] Having added 5.15 million subscribers in the three months ending June 30, Netflix failed to meet Wall Street expectations as well as its own forecast given in April. The company missed its growth targets by roughly half a million subscribers both in the United States and internationally, bringing its subscriber total to 130.1 million by the end of the second quarter, instead of the targeted 131.2 million. Wall Street closely watches Netflix’s subscriber growth because the company’s huge investments in content, both licensed and self-produced, will only pay off in the long run…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Jul 19, 2018[/box] In the early days of e-commerce, people mostly bought products online that were easily packable and shipped. Amazon for example started off selling books, then added CDs and DVDs before eventually starting to sell pretty much everything. No one would have thought of buying furniture online because it would have been outrageously expensive to ship it. These days, buying furniture online is a fairly common thing. Thanks to significant advancements in logistics, shipping costs for larger items have come down so far that they are often outweighed by potential cost savings and…
Market Review The week started off on a negative note, ahead of the general elections on July 25, 2018, awaiting final outcome. The results came as a pleasant surprise to many political analysts who had forecasted a hung parliament. To market’s surprise, PTI has reportedly secured 110-120 seats in NA which implies a much better lead position for PTI to form a stable government without having support from it’s nemesis namely PMLN and PPP. Optimism on the back of timely elections and clear dominance of PTI in NA led to a strong recovery in later half of the week, eventually…
PSX turns bullish on election results, gains 3.79pc wow Summary The move towards Pakistan General Election-2018 for National & Provisional Assemblies had a positive impact on Pakistan Stock Exchange (PSX). The KSE-100 Index started moving upward from last week as it gained 951 points as the impression of postponement/delay of election was dispensed off in the minds of investors. Finally this week the vote of around 55% turned around in election showed the respect the voters have given to election exercise. The Stock Exchange, being the barometer of investor sentiments, buoyed by gaining 1,565 points to close well above 42,000…
Economic confidence rising in UAE Economic confidence in the UAE and other Middle East countries rebounded to its highest level since the second quarter of 2015 in sharp contrast to a decline in global confidence level in the same quarter this year, results of survey revealed on Wednesday. The key factor behind the recovery in confidence in the UAE and the larger region from the second quarter of 2018 is the sharp rise in the oil price, which peaked at $80 per barrel in late-May, compared with a low of $35 per barrel at the start of 2016. “This has…
GST: Tax officers in states to reach out to traders, industry bodies, msmes to list out grievances Tax officers in states and union territories will reach out to trade and industry bodies, MSMEs, to understand their issues and grievances relating to GST and would place them before the Council on August 4. The Central Board of Indirect Taxes and Customs (CBIC) had earlier this week written to the GST Council secretariat asking them to write to states and UTs asking them to contact MSME taxpayers and their trade and industry associations in their respective states and UTs, collect their grievances/issues…
Incentives worth $1.6bn approved for new coastal refinery in Balochistan Despite opposition by different ministries, former prime minister Shahid Khaqan Abbasi approved $1.6 billion worth of incentives for UAE-based Abu Dhabi Petroleum Investment Company to encourage it to establish an oil refinery along the coast in Hub with annual production capacity of 100,000 barrels per day (bpd). The incentives were given on a planned investment of $5 billion in the refinery – a project of Pak Arab Refinery Company (Parco). Such incentives had also been offered to all new state-of-the-art projects. Earlier, the United Arab Emirates (UAE) government had abandoned…
PAKISTAN: Youtube’s Update Has Made It Slower on All Browsers Except Chrome: Mozilla claims that Google has made YouTube load slower on other platforms like Firefox and Microsoft’s Edge browser, compared to Google Chrome. Mozilla’s Technical Program Manager Chris Peterson, says that the recent design refresh of YouTube, which uses Google’s polymer technology is causing it to load 5 times slower on Edge and Firefox. [divider style=”normal” top=”20″ bottom=”20″] Samsung Announced an Unbreakable Flexible Display for Smartphones: Samsung has just prepared an “unbreakable” flexible OLED display panel that is going to be used in a foldable smartphone. The company says…
NBP wins ‘FPCCI Achievement Award’ National Bank of Pakistan (NBP) has been honored with the prestigious “FPCCI Achievement Award” for its contributions in the banking & financial services sector. Mr. Saeed Ahmed, the President and Chief Executive Officer of NBP conferred with a gold medal by the President of Pakistan, Mr. Mamnoon Hussain. FPCCI Achievement Awards recognize the services of organizations in different sectors contributing towards the progress and prosperity of Pakistan. The award distribution ceremony held at Governor House Karachi. The award was conferred to appreciate NBP’s role and service to the nation and playing an important role in…
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 7.37 7.87 2 – Week 7.42 7.92 1 – Month 7.48 7.98 3 – Month 7.66 7.91 6 – Month 7.77 8.02 9 – Month 7.85 8.35 1 – Year 7.95 8.42 2 – Year 8.39 8.89 3- Year 8.72 9.22
[box type=”info” align=”” class=”” width=””] This article is published in collaboration with Chatham House[/box] This article is part of the World Economic Forum’s Geostrategy platform International law flourished in the aftermath of the Cold War, broadening in scope, deepening in content and embracing a focus on individuals. While this period furthered many governance projects envisaged in the post-1945 settlement, shifting power and rising nationalism now suggest the arrival of a more difficult phase for international law. In the coming year (and beyond), areas of the law perceived by some as too liberal will be vulnerable to attack, and tensions will persist between…
[box type=”info” align=”” class=”” width=””]Ron Milo Professor, Weizmann Institute of Science [/box] Most of us, including scientists, are blind to the full scope of the living world. This was illustrated by an informal survey which asked biologists and ecologists from elite universities two questions. In terms of mass, is the living world mostly composed of animals, plants or bacteria? And is there more global biomass on land or in the oceans? The majority of them answered both questions incorrectly. In an age of unparalleled access to information, this is a glaring gap in our knowledge. We are now equipped to…
[box type=”info” align=”” class=”” width=””]Christopher Newman, Northumbria University, Newcastle[/box] The Iridium-7 mission has successfully launched from the Vandenberg air force base in California, placing the latest ten satellites from the American company’s second-generation network into orbit. Deployed by Elon Musk’s SpaceX, Iridium now has 65 new NEXT satellites in the sky, just one away from the intended total. The plan is to be fully operational by the autumn. Iridium provides satellite phone services and other communications support to everyone from the US government to airlines, from mining companies to mountaineers. With around 500,000 billable subscribers on the books, the company…
[box type=”info” align=”” class=”” width=””]Dave Cook, UCL[/box] The phrase “digital nomad” summons the trope of joyful millennials who escape the daily grind to travel the world, working with laptops on far flung beaches. Bullish statistics are regularly regurgitated: “There will be one billion digital nomads by 2035,” the headlines declare. As an anthropologist, I started researching digital nomadism in 2015. It took me three years to develop an understanding of what might be going on, behind the corporate jargon. I can’t offer hard statistics: until new systems such as Estonia’s digital nomad visa – an easy route for people to…
[box type=”info” align=”” class=”” width=””]Brought to you in collaboration with the International Institute for Strategic Studies [/box] This article is part of the World Economic Forum’s Geostrategy platform A year after the Westminster attack in London, the Islamic State, also known as ISIS or ISIL, has been dislodged from the majority of the territory it controlled. But the threat posed by ISIS and other groups across Africa, the Middle East and Southeast Asia persists. International cooperation has been the key to successes in countering terrorism, both recently and over the last 20 years, but as collective security comes under threat and terrorism…
Published in Reuters, July 24th, 2018 by Reuters staff ROME (Reuters) – From westerns to the space race and the latest offerings from Oscar-winning directors, this year’s Venice Film Festival will present a rich line-up of premieres, including a host of Netflix movies and an unfinished Orson Welles work, organizers said. The 75th edition of the world’s oldest film festival kicks off in late August, with some 20 movies competing for the Golden Lion Award. Unlike May’s Cannes Film Festival, which Netflix Inc pulled out of after organizers banned its films from competition for its refusal to release them in cinemas, the…
The marquee of United Artists theater is seen during Amazon’s premiere screening of the TV series “Transparent” at the Ace Hotel in downtown Los Angeles, California, September 15, 2014. REUTERS/Kevork Djansezian Published in Reuters, July 24th, 2018 by Jeffrey Dastin (Reuters) – Amazon.com Inc on Tuesday said Jason Ropell, the executive in charge of its film division, plans to leave the company, in what could signal a shift toward commercial projects and away from independent films. Ropell, who oversaw the young movie studio’s first Oscar wins since taking the job in 2015, will stay with the company for several months to…
Mahira Khan has shared her regret at not being able to vote amid social media backlash against celebrities who flew abroad for an awards ceremony ahead of general elections Published in Geo, July 23rd, 2018 Pakistani actress Mahira Khan has shared her regret at not being able to vote amid social media backlash against celebrities who flew abroad for an awards ceremony ahead of general elections. Many leading celebrities from the Pakistan television, fashion and music industries are in Toronto, Canada for an awards show organised by a private TV network which is scheduled to be held on July 28. The…
Denzel Washington stars in The Equalizer, Lily James in Mamma Mia! Here We Go Again Published in BBC, July 23rd, 2018 When it was released on Friday, Mamma Mia 2 was all set to be the biggest film of the weekend, if not the summer. But a spanner has been thrown in the works at the US box office, in the shape of Denzel Washington. The Equalizer 2, the follow-up to the 2014 original, raced past Mamma Mia! Here We Go Again to claim the top spot. The action sequel took an estimated $35.8m (£27.2m), inching past Mamma Mia’s $34.4m (£26.1m).…
Singer Demi Lovato arrives at the 58th Grammy Awards in Los Angeles, California, US, February 15, 2016. REUTERS/Danny Moloshok/Files Published in Geo News, July 25th, 2018 LOS ANGELES: Pop star Demi Lovato was taken to a Los Angeles hospital on Tuesday due to a suspected overdose, according to media reports. Lovato, 25, has spoken openly about cocaine and alcohol abuse. Representatives for Lovato did not respond to a request for comment but People magazine, quoting an unidentified source, reported she was “okay and stable”. TMZ, quoting law enforcement sources, reported that Lovato was found unconscious at her home and was treated…
Published in HollyWood life, July 24th, 2018 by Avery Thompson Finally, some ‘Game of Thrones’ news! HBO boss Casey Bloys revealed at TCA 2018 some crucial details about ‘GoT’ season 8. So, when does the final season of ‘Game of Thrones’ start? Here’s what we know. The final season of Game of Thrones, the show’s eighth season, will air in the “first half” of 2019, HBO president Casey Bloys announced at the Television Critics Association’s press tour on July 25, according to our sister site Deadline. Now, take “first half” with a grain of salt. This could mean January 2019 or as far away as June…
Published in BBC, July 24th, 2018 Organisers of the Tokyo Olympics in 2020 plan to use the latest technology to help deal with any heat issues. Temperatures reached a record 41.1C in Japan on Monday, with the country experiencing a heatwave this summer. Tokyo’s average July temperature is over 30C and safety measures being looked at include “mist-spraying” and “heat-blocking” technology. “In recent days Tokyo and Japan has been like living in a sauna every day,” said Tokyo Governor Yuriko Koike. “For the athletes, I am sure they are training and very healthy in their bodies but for the spectators, who…
Published in The Express Tribune, July 23rd, 2018 by Saleem Khaliq The development work on the National Stadium Karachi will be completed in December, which will completely revamp the iconic venue before the next Pakistan Super League (PSL) edition. The first phase of the development work commenced right after the final of third edition of PSL and was finished before the series against West Indies had started. Pakistan whitewash Zimbabwe in five-match ODI series The work on the second phase was briefly stopped to facilitate these events — with the fans thoroughly enjoying themselves even without the roof or the stands inside…
Published in Gulf News, July 23rd, 2018 First series win over the Proteas since 2006 Colombo: Sri Lanka on Monday completed a 2-0 Test sweep of South Africa to record their first series win over the Proteas since 2006 after Rangana Herath wreaked havoc with six wickets. The visitors were all out for 290 in the second session of day four in Colombo, 200 runs short of their highly improbable winning target of 490 on a bone-dry wicket. It was South Africa’s first Test whitewash since they went down in the island nation 2-0 in a two-match series almost 12…
Published in sportskeeda, July 22nd, 2018 by Kumud Ranjan It is very difficult to not be left mesmerized by the class and pulchritude of Hashim Amla’s batting. When on song, he seems to be batting in a different zone altogether with the fans in awe of a heavenly beauty on display. Such has been the batting prowess of Hashim Amla that he has garnered respect and admiration from cricket pundits all around the world. Although Amla’s family have their roots in India, he was born in South Africa and learnt all the intricacies of cricket there. Learning cricket in South African setup did…
Pakistan’s batsman Imam-ul-Haq plays a shot during the final cricket match of a five-match ODI series played between Pakistan and host Zimbabwe at Queens Sports Club in Bulawayo. Published in Gulf News, July 22nd, 2018 Fakhar becomes fastest player in history to reach 1,000 career runs in 50-over format Bulawayo: Pakistan completed a series whitewash over Zimbabwe with a 131-run win on Sunday in the fifth and final match at Queens Sports Club in Bulawayo. On another record-setting day for the visitors, Fakhar Zaman became the fastest player in history to reach 1,000 career runs in One Day International as…
Pvt Ltd is introducing their services in Pakistan post accomplishing a successful and remarkable decade in United Arab Emirates. It did not take them long to win their client’s trust in an international market due to their uncompromised high standards of services and impeccable quality. Considering the history, it will not be a challenge for them to bring the best practices in their home ground. They provide aid to sectors in fiscal domain and also cater to survey companies, telco, automobiles, valuations and any other industry which has thrive to improve their processes and standard of their services to remedy…
Since 2012 Ali Hajvery Free Drug Bank has restored 700,000 lives by providing free of cost medicines to deserving patients. In addition to providing medicines, Ali Hajvery is committed to serving patients with kidney disorders through its Free Dialysis Center located at Mian Munshi Hospital. Every month more than 500 patients getting free dialysis services. For most patients, medicine remains as a major cost of their treatment. Every month more than 30,000 patients do not have to worry about this burden because of support of people like you. Ali Hajvery is also providing insulin to 500 diabetic patients monthly and…
Market Review The benchmark index remained bullish during the week (Friday-Thursday), posting an increase of 4.9%WoW, up 1,939pts to close at 41,796pts. Market participation increased as indicated by a rise of 58%WoW in ADT and 37%WoW in ADTV as investors became more active amid building expectations of elections to be held on time. However, foreigners continued their selling spree in this week with a net outflow of USD25mn. During the week, urea price rose by PKR50/bag to PKR1,630 – 1,640/bag owing to the strong demand of fertilizer for the summer crop. Moreover, steel manufacturers raised the price of high quality…
Index settles above 41,000 mark on valuation and liquidity recovery Summary Last week when the KSE-100 Index, which trailing around 39,000 level had a bullish movement when it gained 950.75 points to close at 41,221.75. Notable was the participation of investors in the market as the average volume increased from 131m to 219m. The individuals remained the cherry picker at low valuation of the stock to be again a net buyer of $9.83m this week while foreigners continued to be seller worth $22.11m. The market capitalization which was negative last week went positive by Rs.159 billion to close at Rs8,476.…
UAE welcomes china to explore investment opportunities Economy ministers of the UAE and China said the state visit opened doors to new areas of cooperation and also strengthened existing ties between the two countries. Taking things a step forward, UAE Minister of Economy Sultan bin Saeed Al Mansoori promised cooperation in all sectors and invited Chinese investors to explore the investment climate in the UAE. “The UAE policies of investment and development have many commonalities with China,” the minister said during the UAE-China Economic Forum held in Abu Dhabi on Friday. “We invite Chinese investors to explore investment climate in…
3 times increase! Affordable healthcare allocation under PM Swasthya Suraksha Yojana tripled in Modi-era Even as Ayushman Bharat, popularly known as Modicare, has been the highlight this year in the healthcare sector, the Narendra Modi government, in the five budgets, steadily increased the budgetary outlay for the flagship Pradhan Mantri Swasthya Suraksha Yojana (PMSSY), data from Budget documents show. Launched in 2003, the PMSSY aims to correct regional imbalances in affordable tertiary healthcare services by setting up new AIIMS-like hospitals and upgrading existing medical colleges. The allocations under PMSSY were Rs 989 crore in 2012-13; Rs 1,273 crore in 2013-14;…
Pak’s 4g broadband speed faster than India’s Despite the challenges Pakistan faces in promoting information technology and bringing more and more people online, international internet speed gauging platform Ookla has said that Pakistan’s 4G mobile broadband is faster than its neighbour India’s. Pakistan is ranked 96th in the world in download speed on mobile broadband based on the June Speed-test Global Index, with average speed of 14.03 megabits per second (Mbps). It is better than that in India which stands at 109th place with average speed of 9.12 Mbps, according to speedtest.net of Ookla – a global leader in fixed…
PAKISTAN: Moody’s Withdraws Negative Outlook Rating for Jazz: Moody’s Investors Service (Moody’s) on Thursday withdrew Pakistan Mobile Communications Limited’s (Jazz) B1 corporate family rating and negative outlook. According to Moody’s, it has decided to withdraw the rating for its own business reasons. [divider style=”normal” top=”20″ bottom=”20″] OPPO Launches Find X In Pakistan: OPPO, The Selfie Expert and leading global smartphone brand, launched its flagship smartphone, OPPO Find X in Pakistan today. With a Panoramic arc design – 6.42-inch screen with a screen ratio of 93.8% and stealth 3D cameras, OPPO Find X represents OPPO’s innovative spirit. Priced at PKR 129,999.…
Export promotion is vital for economic stability says: Mian Zahid Hussain President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of and former provincial of Mian Zahid Hussain last Wednesday said political instability caused PKR devaluation by 26 percent within 6 months, while USD has reached to Rs. 130 in the open market. Pakistan stock exchange (PSE) is declined by 2200 units resulted in huge losses of Rs. 470 billion over the last six months. The veteran business leader while talking to the business community said due to dollar has appreciation against Pakistani…
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 6.41 7.91 2 – Week 6.45 7.95 1 – Month 6.49 7.99 3 – Month 6.66 7.91 6 – Month 6.78 8.03 9 – Month 6.83 8.33 1 – Year 6.93 8.43 2 – Year 8.39 8.89 3- Year 8.72 9.22
[box type=”info” align=”” class=”” width=””]Adam Jezard Formative Content[/box] China seems determined to reach the stars by building ever-taller skyscrapers. In 2017 it saw the construction of 144 high-rises of more than 200 metres (660 feet) in height, including 15 described as “supertall” structures that tower above 300m (980 ft), according to the Council on Tall Buildings and Urban Habitat. The city of Shenzhen is a particular tall-building hotspot, with CNN’s architectural journalist Christopher DeWolf writing in July 2017 that 11 of 128 tall towers built in the past year had been constructed within its environs. This was more than were built in the…
[box type=”info” align=”” class=”” width=””]Tom Inglesby Director, Johns Hopkins University Center for Health Security[/box] All pandemics start as a small outbreak somewhere. When the next potential pandemic begins, will we detect it early? Will we recognize its pandemic potential? Will we have the means to prevent a limited outbreak from becoming a pandemic? The answer to these questions is theoretically yes, but practically probably not – at least, not now. How will political leaders across the globe deal with the complex policy issues that come with an evolving severe pandemic? My colleagues and I at the Johns Hopkins Center for…
[box type=”info” align=”” class=”” width=””]John Colley, Warwick Business School, University of Warwick[/box] The bidding war between Comcast and Disney for European pay-TV giant Sky’s operations seems to have paused at Comcast’s latest bid. But not before reaching astronomical heights, reflective of the dubious thinking that is driving a lot of mergers and acquisitions at the moment. Bidding by the two major US entertainment businesses for Sky had reached US$34 billion – with Comcast trumping Disney’s previous bid in the region of US$32 billion. This is around 100% above the undisturbed share price and 15 times earnings before interest, tax, depreciation…
[box type=”info” align=”” class=”” width=””]Alan Felstead, Cardiff University[/box] Whether we work or not, the nation’s productivity – that is, the total amount of output produced per unit of input – affects us all. It is the main determinant of living standards. Higher productivity makes employers more competitive, provides the foundation for wage increases, and increases government tax revenues, so everyone stands to benefit. The reverse is also true, however, with low productivity likened by Frances O’Grady, general secretary of the Trades Union Congress, to a “self-inflicted wound”. To see how the UK’s productivity currently stands, we have recently completed a…
[box type=”info” align=”” class=”” width=””]Andrew Crane, University of Bath[/box] People trapped in modern slavery situations endure terrible conditions, threats to their safety, and limits on their freedom. Yet sometimes, they actually do less work than they really want to. It may sound unlikely, but as a business model of exploitation, it has its own warped logic. The term “modern slavery” usually describes the very worst forms of human exploitation. Whether it is young girls forced into prostitution, construction workers trapped in bonded labour, or migrants forced onto fishing vessels to work for years at a time for no pay, the…
[box type=”info” align=”” class=”” width=””] by Niall McCarthy, Jul 13, 2018[/box] A Deloitte survey has found that 75 percent of major companies in the UK are now pessimistic about Brexit. The research is conducted quarterly and between June 3rd and 14th, 103 chief financial officers of major companies were polled on the UK’s complicated divorce with the EU. While 68 percent of them were downbeat about the post-Brexit business environment in the second quarter of 2016, that has now increased to record levels. [ads1] You will find more infographics at Statista
[box type=”info” align=”” class=”” width=””] by Felix Richter, Jul 13, 2018[/box] Aside from Netflix, which dominated the headlines after Thursday’s Emmy nominations, several other online video platforms have set their eyes on the biggest prize in television this year. Hulu, Amazon, YouTube and Vimeo all nabbed multiple nominations on Thursday and even Apple, whose video ambitions for Apple Music have been off to a slow start, received a nod for its Carpool Karaoke series. With Netflix overtaking HBO, and Hulu and Prime Video making it into the top 10 most nominated networks, it is clear that online services will play a major role…
[box type=”info” align=”” class=”” width=””] by Niall McCarthy, Jul 16, 2018[/box] Helsinki is the final stop on President Trump’s incendiary and controversial trip to Europe. He is meeting Russia’s Vladimir Putin at a summit in the Finnish capital and even though both leaders have met on the sidelines of multilateral talks before, this is their first official summit. With the eyes of the world firmly fixed on the meeting, polling by Pew Research suggests that much of the world has no confidence in either man’s leadership. Whether its Putin’s approach towards his opponents or Trump’s disruptive brand of diplomacy, the “no confidence” scores are high in most countries. In…
[box type=”info” align=”” class=”” width=””] by Felix Richter, Jul 16, 2018[/box] When Amazon introduced the Prime membership program in the United States in 2005, it gave members free two-day shipping as well as discounted one-day shipping rates for an annual fee of $79. A lot has changed since then. Amazon raised the membership fee to $99 in 2014 and to $119 this year and added a ton of new perks for Prime members over the years. Those added benefits include free same-day delivery, unlimited video streaming, free access to a large music library, photo storage and, for the fourth time this year, an exclusive…
The Maritime Training Institute, an awards winning Institution duly approved by the Govt. of Pakistan, affiliated with University of Karachi and an outreach campus of City of Glasgow College, of Scotland, UK to conduct and deliver Higher National Diploma Program and M.S in Shipping and Logistics. The Maritime Training Institute was formed in October 1998. The main objective of MTI to protect Pakistan’s strategic maritime interests as well as to promote the Education and Training in all spheres of Maritime Industry, incompliance with the STCW 2010 and to satisfy the recommendations of the IMO & ILO Documents of Guidance. Maritime…
Market Review The period under review (Friday-Thursday) remained flattish owing to lack of triggers and increasing political uncertainty in the country. A declaration of PKR1.8trn under tax amnesty scheme also failed to lift the market sentiments where the index closed at 39,875pts, down by 0.9%WoW. Market participation increased as indicated by a rise of 2.8%WoW in ADT and 14.6%WoW in ADTV as investors became more active post clarity on the judgment against ex-PM. Foreigners continued their selling spree in this week as well with a net outflow of USD25mn. During the week, PSMC announced to discontinue production of VX Mehran…
Value hunters diluted political uncertainty as stocks stay flat Summary KSE-100 Index trailing near 39,000 level has made the stocks very attractive for those investors who could not get this low value if it is predicted to go up in future. The individuals and companies, it is observed have been the buyer in the market for quite few weeks. This week the individuals were buyer by $10.71m and company buyer to the extent of $5.46m. On the contrary, the foreigners were seller $26.64m. The KSE-100 Index had a minor loss on 13.14 points at close after having a downfall of…
Some investors want new Abraaj review Some investors in funds managed by Dubai-based Abraaj want to block the sale of assets to Colony Capital pending a review of Abraaj’s handling of funds, according to a report seen by Reuters, potentially delaying a deal key to the survival of the investment management business. US-based Colony offered last month to buy the fund management unit that runs Abraaj’s Latin America, Sub-Saharan Africa, North Africa and Turkey funds after months of turmoil at Abraaj triggered by a dispute with investors over the use of their money in a $1 billion healthcare fund. Abraaj…
India’s June trade deficit highest in 5 years, and this is the biggest reason India’s trade deficit widened to its highest in more than five years in June, the trade ministry said on Friday, driven largely by a surge in oil imports. Though merchandise exports rose 17.57 percent year-on-year in June, the trade deficit widened to $16.6 billion due to a rise in oil imports that surged 56.61 percent to $12.73 billion. In May the trade deficit stood at $14.62 billion. Merchandise exports last month rose to $27.7 billion from a year ago, while imports rose 21.31 percent on year…
ICCI shows concerns over high trade deficit The Islamabad Chamber of Commerce and Industry (ICCI) has shown concerns over a record high trade deficit that has touched $37.7 billion during the fiscal year 2017-18, stating that it would put more pressure on declining foreign exchange reserves. ICCI President Sheikh Amir Waheed said that as per the recent figures of the Pakistan Bureau of Statistics (PBS), Pakistan’s imports were recorded at $60.9 billion in the previous fiscal year, against $52.9 billion a year before, showing an increase of 15.1%. He said the trade deficit of Pakistan was around $20 billion in…
PAKISTAN: Jazz and Careem Collaborate to Provide Exciting Offers to Users: Jazz has collaborated with Careem to offer various promotions to its subscribers throughout the year. Subscribers can use the promo code ‘JAZZSUPER4G’ when booking a ride through the Careem app to avail a discount of 20% on their next four rides. First time users of Careem app can use promo code ‘JAZZRIDE’ to receive a discount of up to PKR 250 on their first ride. [divider style=”normal” top=”20″ bottom=”20″] StormFiber Gallops into Hyderabad: StormFiber has just made an announcement of the general availability of its fiber broadband services in…
Women don’t ask for handouts now, they ask for work, says chief of DOCH Fashion House The stark landscapes of Balochistan are a backdrop for the colourful embroidery of the region. Exceedingly fine work, all done by hand, it is recognized the world over for its fine quality. The skills are acquired from childhood onwards, but the women who do the work live in remote corners of the province. Confined to their homes, they are cut off, not just from the rest of the world but even the provincial capital of Quetta. Deedar Mengal has taken it upon herself 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 6.50 7.00 2 – Week 6.54 7.04 1 – Month 6.62 7.12 3 – Month 6.87 7.12 6 – Month 6.99 7.24 9 – Month 7.07 7.57 1 – Year 7.19 7.69 2 – Year 7.77 8.27 3- Year 8.19 8.69
[box type=”info” align=”” class=”” width=””]This article is published in collaboration with Chatham House[/box] This article is part of the World Economic Forum’s Geostrategy platform For all of human history, politics has been fundamentally driven by conscious human action and the collective actions and interactions of humans within networks and organizations. Now, advances in artificial intelligence (AI) hold out the prospect of a fundamental change in this arrangement: the idea of a non-human entity having specific agency could create radical change in our understanding of politics at the widest levels. Not least because of the influence of literature, cinema and television, popular…
[box type=”info” align=”” class=”” width=””]This article was originally published by Reuters Reuters Staff Adam Jourdan Chief Correspondent, Thomson Reuters[/box] Apple Inc (AAPL.O) will launch a $300 million clean energy fund in China, the firm said in a statement on Friday, working with its suppliers to invest in renewable energy projects that could power close to 1 million homes in the country. Image: REUTERS/Regis Duvignau China’s government has made cutting pollution a key priority, putting pressure on local and international firms to help reduce high levels of smog in its major cities and clean up the country’s waterways and polluted soil.…
[box type=”info” align=”” class=”” width=””]Yuka Kobayashi, SOAS, University of London[/box] China first built its famous Great Wall in the Qin dynasty during the third century BC. Never has there been a greater symbol of protectionism. But today China is outward facing to protect its national interests. It is building bridges, as well as railways, roads and infrastructure, and embedding itself at the heart of the global trade system. The unfolding trade dispute between the US and China follows a scramble for influence by both countries to set the rules, regulations and standards for trade and investment. The crux of the…
[box type=”info” align=”” class=”” width=””]Alan Shipman, The Open University[/box] Gloomy forecasts for the post-Brexit economy, and a psychological tendency to gamble rather than accept certain losses, may boost public support for a giant leap away from the EU – despite the fact that most experts are advising a cautious small step. Parliamentary rebels have tempered their demands for a vote on the final Brexit deal and abandoned an earlier House of Lords attempt to keep the UK in the European Economic Area. Attempts to maintain membership of the customs union and single market by Brexit’s opponents have seemingly failed. But…
[box type=”info” align=”” class=”” width=””]Milan Babic, University of Amsterdam; Eelke Heemskerk, University of Amsterdam, and Jan Fichtner, University of Amsterdam[/box] Who holds the power in international politics? Most people would probably say it’s the largest states in the global system. The current landscape of international relations seems to affirm this intuition: new Russian geopolitics, “America First” and Chinese state-led global expansion, among others, seem to put state power back in charge after decades of globalisation. Yet multinationals like Apple and Starbucks still wield phenomenal power. They oversee huge supply chains, sell products all over the world, and help mould international…
[box type=”info” align=”” class=”” width=””] by Niall McCarthy, Jul 9, 2018[/box] Attempting to identify the world’s largest subway system can prove difficult, given that there are many ways of measuring it such as length of track or number of daily passengers. One comprehensive way of figuring it out is by looking at the sheer number of stations across different networks worldwide. The folks over at CityMetric carried out an analysis in 2015, finding that New York’s subway comes first by number of stations with 468 in total. Interestingly, it would only actually have 421 “by international standards” as the network has several “station complexes” consisting…
[box type=”info” align=”” class=”” width=””] by Yijia Xu, Jun 26, 2018 [/box] According to Canalys, the top four mobile phone brands sold in China’s domestic market in the first quarter of 2018 were Huawei (21.2 million units), OPPO (16.5 million units), Vivo (14.2 million units), and Xiaomi (13.2 million units). These four leading vendors accounted for a market share of 73 percent, forming a “T-shaped structure” in the Chinese smartphone market. In this brutal market, the second-tier brands such as Jinli, Lenovo, Meizu, ZTE, and Coolpad have all been left behind, and their situation is becoming increasingly difficult. As the Chinese market has started to…
[box type=”info” align=”” class=”” width=””] by Niall McCarthy, Jul 2, 2018[/box] Trade disputes arise when one government believes another government is violating an agreement or commitment it has made in the World Trade Organisation (WTO). Since 1995, the WTO has played a key role in ending these disputes with over 500 of them brought since 1995 with 350 rulings issued. As of April of this year, the WTO says that the United States was involved in 52 trade disputed with the European Union – it brought 33 of those while 19 were brought against it. There were 32 disputes in total involving trade…
[box type=”info” align=”” class=”” width=””] by Niall McCarthy, Jul 9, 2018[/box] An incredible statistic from Bill Gates’ blog shows that between 2011 and 2013, China consumed more concrete than the U.S. did in the entire 20th century. The Three Gorges Dam alone required 16 million tons of cement. The country’s insatiable thirst for the stuff hasn’t been quenched and it comfortably remains the world’s king of concrete. In 2017, China produced more cement than the rest of the world combined, according to the U.S. Geological Survey. In total, Chinese cement factories produced 2.4 billion metric tons and the rest of the world churned out 1.7 billion…
[box type=”info” align=”” class=”” width=””]by Felix Richter, July 9, 2018[/box] June 29, 2007, the day the first-generation iPhone was released, is often considered the birthday of the modern smartphone. And while that may be true in terms of its (at the time) revolutionary touchscreen user interface, another, less noted event probably played an even bigger role in shaping today’s smartphone experience. Ten years ago, on July 10, 2008, Apple introduced the App Store, opening up its famously walled garden and paving the way for today’s app economy. “We’re excited about creating a vibrant third-party developer community with potentially thousands of native applications…
Pvt Ltd is introducing their services in Pakistan post accomplishing a successful and remarkable decade in United Arab Emirates. It did not take them long to win their client’s trust in an international market due to their uncompromised high standards of services and impeccable quality. Considering the history, it will not be a challenge for them to bring the best practices in their home ground. They provide aid to sectors in fiscal domain and also cater to survey companies, telco, automobiles, valuations and any other industry which has thrive to improve their processes and standard of their services to remedy…
Market Review The period under review started off on a dull note and remained negative throughout the week amid lack of triggers. The sentiments were further dented as Fitch Rating agency showed reservations to the worsening current account and fiscal deficit condition of the country where the index closed at 40,239pts, down by 4.2%WoW. The activity during the week remained lackluster as evident from decline in ADT and ADTV by 33.2%WoW and 37.0%WoW, respectively. Foreign investors remained net sellers, exhibiting a net outflow of USD10.9mn. During the week, NEPRA rejected demand of K-Electric to increase the tariff by PKR3.0 per…
Stocks move slightly up as calms return over Nawaz conviction Summary Decision on ex-prime minister Nawaz Sharif’s Avenfield properties reference on Friday, kept the market in uncertain mode during the week as investors remained cautious .The volume too dropped to 111m from 182m last week. The market capitalization lost Rs.307 billion from Rs.8,665 to Rs.8,358 trillion this week. The delay in announcing the decision by NAB court kept the investors at suspense. About 10 minutes before the close of the stock session saw no panic selling as stock gained 45.33 points to close at 40,284.14. This could be considered as…
Dubai’s troubled Abraaj nears out-of-court settlement: Lawyer A Sharjah court has adjourned until July 11 a case involving the founder of private equity firm Abraaj, Arif Naqvi, and another executive for issuing a dud cheque, a lawyer involved in the case said on Thursday. The case relates to a cheque for Dh177.1 million, signed by Naqvi and a fellow executive, and written to Hamid Jafar, another founding shareholder in Dubai-based Abraaj, according to a prosecution document. Khalid Al Bannay from Al Tamimi & Co, the law firm representing Jafar, said the court has adjourned the case until July 11. Naqvi’s…
Piyush Goyal lauds GST council for success Union Finance Minister Piyush Goyal has lauded the Goods and Service Tax council for working as a responsive organisation and successfully implementing GST bill in the country in just a year. “The GST council has worked as a responsive organisation and overcome all the challenges that came in during the process. They have made GST a huge success within a year,” said Goyal. He further insisted that only minor issues are left to be solved. “Only minor issues are left, many things have been solved. I am confident that the worries of the…
FBR forcefully withdraws Rs2bn from PRA’s bank accounts In its desperate effort to come near the downward revised target, the Federal Board of Revenue (FBR) has forcefully withdrawn about Rs2 billion from Punjab Revenue Authority’s (PRA) bank accounts, setting another example of highhandedness. The incident took place in Lahore where FBR authorities pressurised the National Bank of Pakistan (NBP) to reverse some transactions of PRA, officials in the FBR headquarter told. These transactions, involving nearly Rs2 billion, were reversed on June 28 and June 29, officials said. Punjab’s Finance Secretary Hamid Yaqoob Sheikh confirmed the development. It has become a…
PAKISTAN: Gmail messages ‘read by human third parties’: Google has confirmed that private emails sent and received by Gmail users can sometimes be read by third-party app developers, not just machines. People who have connected third-party apps to their accounts may have unwittingly given human staff permission to read their messages. One company told the Wall Street Journal that the practice was “common” and a “dirty secret”. [divider style=”normal” top=”20″ bottom=”20″] Daraz’s Mobile Week Offers Big Discounts on Major Brands: It’s called Pakistan’s biggest mobile phone sale of the year for a reason. Daraz Mobile Week is offering up to…