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 5.89 6.39 2 – Week 5.92 6.42 1 – Month 5.99 6.49 3 – Month 6.16 6.41 6 – Month 6.26 6.51 9 – Month 6.34 6.84 1 – Year 6.47 6.97 2 – Year 7.00 7.50 3- Year 7.45 7.95
Author: AdminPAGE
[box type=”info” align=”” class=”” width=””]Panoraia (Nora) Andriopoulou, Manchester Metropolitan University[/box] It’s well known that mental health is a significant issue for young people. Recent research suggests that at least 10% children and young people between the ages of five and 16 in the UK experience a problem such as anxiety and depression. If left untreated these problems can spiral and lead to issues such as drug abuse, suicide attempts and criminality in adolescence and adulthood. But what if primary school children were offered counselling as a matter of course? Early intervention would not only reduce mental health problems down the…
[box type=”info” align=”” class=”” width=””]Negar Habibi, King’s College London[/box] Donald Trump’s decision to unilaterally pull the US out of the Iran nuclear deal doesn’t just have important political and security implications. Because sanctions are at the heart of the deal, it will also have a significant economic impact. Just how big this is depends on the response of the European signatories to the deal – the UK, France and Germany. The Iran deal did not have as big an effect on Iran’s economy as it might have had. It was reached in November 2015, shortly before the start of the…
[box type=”info” align=”” class=”” width=””]Barnali Choudhury, UCL and Martin Petrin, UCL[/box] The UK is introducing new legislation that will require companies to publish the ratio of what they pay their CEO compared to the average worker’s salary. The move follows a number of corporate governance reforms introduced by the government over the last year and a half as part of an effort to build a fairer economy. But if the government was truly committed to building a fairer economy, it would not rely primarily on companies to do its work for it. When Theresa May first became prime minister, she…
[box type=”info” align=”” class=”” width=””]Peter Thomson United Nations Special Envoy for the Ocean, United Nations[/box] The ocean has shaped my life, from my beginnings in the outer islands of Fiji to my appointment last year as the UN Secretary-General’s special envoy for the ocean. Like millions of others before me who have taken sustenance and succour from Neptune’s world, I know there is so much for which we should give thanks. And yet, over the intervening decades of my life, a quickening cycle of decline has been imposed on the ocean’s health by the ever-accumulating effects of harmful human activities.…
[box type=”info” align=”” class=”” width=””]Jason Hickel Anthropologist, London School of Economics[/box] Ecological collapse is hard to miss in the headlines. From deforestation to soil depletion, species extinction to climate change, the past few years have brought countless troubling reports. We are living in the age of the Anthropocene, and we’re reminded on a daily basis of our uncertain future on an unstable planet. Whenever I give public talks, there is always someone who sticks their hand in the air and tells me that really, it all comes down to overpopulation. They are almost always a white man, and their argument…
Market Review The benchmark index maintained a negative momentum throughout the week settling down at 43,595pts, a decrease of 2.1%WoW, following Trump’s announcement to pull out from the Iran’s nuclear agreement. However, market participation picked up its pace in this week as evident from ADT and ADTV that increased by 0.9%WoW and 3.2%WoW, respectively. Additionally, foreign investors exhibited a net outflow of USD4.1mn. During the week, APCMA released cement dispatches for Apr’18 that clocked in at 4.2mn MT, posting a growth of 18%YoY, where the capacity utilization for 10MFY18 clocked in at 98%. Furthermore, ENGRO disclosed its plan to invest…
Stocks slide continued, extend losses below 44,000 level Summary Post budget sessions saw PSX dropping 1,005 points. The trend continued on second week as KSE-100 Index shed another 942 points to close below 44,000 level to 43,594.79. The factors affecting the downward trajectory of the stock slide includes: political uncertainty, concern over approval of pending disputes over budgetary proposals, unattended tax proposals, controversy between government & NAB and poor economic numbers. The average volume this week increased by to 168m but the market capitalization declined below Rs.9 trillion to Rs.8.973 trillion. The stock market remained highly volatile on Monday. Rising…
Dubai gold prices slip slightly. is it the right time to buy? Gold prices slipped in range-bound trading on Friday as the dollar firmed slightly, with investors mostly brushing off a potential broadening of conflict in the Middle East. Spot gold was down 0.1 percent at $1,319.61 per ounce as of 0656 GMT, after rising to the highest since end-April at $1,322.76 in the previous session. 24 karat gold was priced at Dh159 in Dubai. As for 22 karat gold, the price was marked at Dh150. The metal was, however, still on track to register a first weekly rise in…
Donald Trump’s moves turning deadly for Narendra Modi? Iran nuclear deal walkout spells trouble for India US President Donald Trump on Wednesday walked out on the nuclear deal signed with Iran unleashing uncertainty in an already tight international oil market. As India is the net importer of oil, with Iran being the third biggest supplier, the decision to abandon the Iran nuclear deal by the United States will spell trouble for Narendra Modi on multiple levels, a report has said. “The country and the Modi government have benefited from lower oil prices over the last few years… This gave India’s…
Pak urges to focus on EU, not just China Pakistan, while focusing on the China-Pakistan Economic Corridor (CPEC), should also look beyond in the European Union (EU), amid the scenario evolving in the aftermath of Brexit, which is due next year. The EU is a market of 460 million people and Pakistan should explore it to tap the trade and investment potential. For this to happen, Pakistan needs to build an positive image, enhance engagements with EU countries and improve its human rights status. Speaking on the occasion, Dr Pál Belényesi, managing director, Brussels Consulting and Independent Scientific Adviser to…
Shaheen Air signs agreement to offer discount for Silk Bank customers In line with its commitment of facilitating passengers, the second national carrier of Pakistan Shaheen Air International (SAI) has signed an agreement with Silk Bank to provide 9% discount to bank’s credit card holders on online purchase of tickets. The signing ceremony was held at Silk Bank head office in Karachi where the Chief Marketing Officers of Shaheen Air Mr. Zohaib Hassan and Mr. Asim Hafeez Qureshi, Head of Cards Product, Silkbank, signed the agreement in the presence of Mr. Nouman Butt, Head of Alliances, Loyalty and New Initiatives,…
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 5.89 6.39 2 – Week 5.92 6.42 1 – Month 5.99 6.49 3 – Month 6.16 6.41 6 – Month 6.26 6.51 9 – Month 6.34 6.84 1 – Year 6.47 6.97 2 – Year 7.00 7.50 3- Year 7.45 7.95
[box type=”info” align=”” class=”” width=””]Srikar Reddy Managing Director and Chief Executive Officer, Sonata Software Limited and Sonata Information Technology Limited Vijay Raju Community Lead, Forum Members, World Economic Forum Geneva[/box] With the recent controversy involving Facebook and Cambridge Analytica, there is increasing pressure on companies that are dealing with data to deliver superior business and customer outcomes. Not just social media networks, but any company in the process of digital transformation. This includes firms leveraging new technologies and platforms, such as drones, AI and autonomous vehicles, to deliver value. The pressure is even more intense on companies operating in countries…
[box type=”info” align=”” class=”” width=””]Cathy Mulligan Co-Director, Imperial College Centre for Cryptocurrency Research JP Rangaswami Chief Data Officer, Deutsche Bank AG London Sheila Warren Project Head, Blockchain and Distributed Ledger Technology, World Economic Forum LLC Jennifer Zhu Scott Founding Partner, Radian Partners[/box] One of the most unique aspects of blockchain is its high number of evangelists – people who believe blockchain can solve everything from global financial inequality, to the provision of ID for refugees, to enabling people to sell their houses without an estate agent. The enthusiasm to (over) promote the technology is also damaging its long-term prospects. This…
[box type=”info” align=”” class=”” width=””]Alexander Taylor, University of Cambridge[/box] From micro-targeted advertisements to Russian social media sleeper agents and doorstep canvassers armed with conversation scripts based on personality profiles, data-driven tools and techniques appear to be providing increasingly intimate and aggressive ways of engaging, persuading and manipulating voters. Revelations from the Cambridge Analytica scandal have seemingly confirmed a growing suspicion that big data, combined with social media, is a powerful recipe for influencing public opinion. Data, we are told, has “hijacked democracy” – and, if left unchecked, could destroy it entirely. But what’s most interesting, from my perspective as a…
[box type=”info” align=”” class=”” width=””]Dan Finn, University of Portsmouth[/box] The jobcentre. It used to be a staple of the British high street, where the unemployed went to sign on and look for work. But Britain’s national network of jobcentres is currently undergoing radical change as the government implements multiple welfare reforms and cuts as part of its continued austerity drive. Between 2016 and 2018, over 100 jobcentres – about 15% of the network – will have closed. Support for the long-term unemployed and disabled jobseekers has also been cut. A new Work and Health Programme will assist less than a…
[box type=”info” align=”” class=”” width=””]Negar Habibi, King’s College London[/box] Donald Trump’s decision to unilaterally pull the US out of the Iran nuclear deal doesn’t just have important political and security implications. Because sanctions are at the heart of the deal, it will also have a significant economic impact. Just how big this is depends on the response of the European signatories to the deal – the UK, France and Germany. The Iran deal did not have as big an effect on Iran’s economy as it might have had. It was reached in November 2015, shortly before the start of the…
Market Review The outgoing week closed at 44,537pts, down by 2.2%WoW where FY19 budget failed to excite market participants despite the removal of tax on bonus shares as well as reduction in corporate tax rate. The participants were deterred by the government’s announcement to continue super tax till FY21 coupled with the failure to remove capital gains tax. The activity during the week remained lackluster as evident from a decline in both ADT and ADTV by 1.6%WoW and 21.5%WoW, respectively. However, foreign investors were net buyers, exhibiting a net inflow of USD0.6mn. During the week, ASTL began the commercial operations…
Post-Budget sessions bring bearish spell back in PSX Summary The 6th budget presented by the PML-N government was considered as a populist budget trying to please all the sectors of the society: cut in income tax for salaried individuals and dividend income; increase in pensions; allocations towards education, health, agriculture, armed forces; including amnesty scheme. It was expected that fell good factor may boost the PSX. However the PSX overall reaction to post Budget was negative as market shed 1,005 points and came down to 44,000 level and closed at 44,536.91 on Friday. It seems the investors gave more weigh…
Shahrukh opens new Kalyan jewellers outlet in bur Dubai The Baadshah of Bollywood, Shahrukh Khan inaugurated a new Kalyan Jewellers showroom in the UAE amidst a sea of fans at Meena Bazaar. The much awaited launch at Bur Dubai witnessed an unprecedented crowd and the appearance of Shahrukh Khan saw a gathering of thousands of people who had come to see their favourite star. He was accompanied by Kalyan Jewellers chairman and managing director T.S. Kalyanaraman and executive directors Rajesh Kalyanaraman and Ramesh Kalyanaraman for the inauguration ceremony and on stage. A special stage was set up outside, next to…
Interest rates unlikely to go up further: Dea Secretary Subhash Chandra Garg The finance ministry does not see any scope for further northward movement of interest rates, notwithstanding RBI Deputy Governor Viral Acharya’s signal for hike in repo rate in June policy. “My sense is that interest rates have firmed up enough. I don’t think that they should increase further,” Economic Affairs Secretary Subhash Chandra Garg told PTI in an interview. As per the minutes of the monetary policy committee meeting of April, RBI Deputy Governor Viral Acharya favoured withdrawal of monetary accommodation in the next policy review meeting on…
Government of Pakistan needs to watch out as CPEC-related debt soars Pakistan has made progress, which is evident from its completion of the International Monetary Fund’s (IMF) bailout programme, but challenges remain as the country maneuvers its way through worrying economic indicators and depleting foreign exchange reserves. At the 51st Annual Meeting of the Board of Governors, Asian Development Bank (ADB) President Takehiko Nakao acknowledged Pakistan has progressed. But he also had words of caution for the over $300-billion economy. “I have visited Pakistan two times, and there has been progress,” Takehiko said during the meeting. The remarks make sense…
PAKISTAN: Optix adds Netflix CDN to its data center to make streaming faster than ever: With the Netflix craze in Pakistan lately – local ISPs are clamoring to improve video streaming for their customers. Together with others, Optix Pakistan has now partnered with Netflix and set up Netflix CDN Nodes based on their OCA (Open Connect Appliances) architecture at Optix Datacenter in Pakistan. [divider style=”normal” top=”20″ bottom=”20″] MI Pakistan is turning up the heat with another sale: Summer season in Pakistan is a harbinger of power and water outages, not to mention bad moods and short tempers. While most brands…
Siemens boosts manufacturing in Pakistan with new production for power technology Siemens has strengthened local manufacturing in Pakistan with a new production line for the company’s latest technology in air-insulated switchgear, the NXAIR. Produced at Siemens’ Karachi factory, the NXAIR medium-voltage switchgear is an essential part of efficient, reliable and safe power distribution in cities, infrastructure, buildings and industrial plants. “We’re proud to be supporting ’Made in Pakistan’ with this new production line at our Karachi factory, bringing the very latest in switchgear technology to the local market,” said Helmut von Struve, Managing Director, and Siemens Pakistan. “The new facility…
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] [padding right=”15%” left=”15%”][/padding] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 5.92 6.42 2 – Week 5.96 6.46 1 – Month 5.99 6.49 3 – Month 6.15 6.40 6 – Month 6.26 6.51 9 – Month 6.32 6.82 1 – Year 6.44 6.94 2 – Year 6.99 7.49 3- Year 7.42 7.92
[box type=”info” align=”” class=”” width=””]Melanie Bailey, University of Surrey[/box] Fingerprints have provided key evidence in countless cases of serious crime. But there are still some situations in which it can be difficult or impossible to recover fingerprints and this can cause a headache for forensic investigators. In seeking a solution to this problem, researchers like myself have started to realise that a fingerprint can be used for a lot more than just its unique ridge pattern. A fingerprint is formed when a finger makes contact with a surface. The finger leaves behind traces of sweat and any other substances present…
[box type=”info” align=”” class=”” width=””]Corinna Frey, Cambridge Judge Business School and Marian Gatzweiler, University of Edinburgh[/box] The term “refugee camp” is often misleading. Many of the facilities housing some of the world’s 65m people fleeing war and disasters resemble small cities rather than comfortable campgrounds. With tents and caravans crammed together in urban-style grids that sometimes stretch for miles, aid organisations and governments commonly use satellite imagery and other surveillance technologies to control movement in and out of these sprawling installations. While new technologies are now being used more frequently in the management of humanitarian crises, data infringements of digital…
[box type=”info” align=”” class=”” width=””]Briony Harris Formative Content[/box] India has joined the United States and China as one of the world’s five biggest military spenders this year, as the balance of military spending shifts further towards Asia. India’s defence spending rose by 5.5% to $63.9 billion in 2017, as the South Asian country leapfrogged France in the expenditure ranking. Image: Bloomberg/Stockholm International Peace Research Institute Overall global military spending rose by 1.1% to $1,739 billion in 2017, according to the figures collated by the Stockholm International Peace Research Institute. That is the highest level since the end of the Cold War,…
[box type=”info” align=”” class=”” width=””]David Abney Chairman and CEO, UPS[/box] The art of negotiation is so important – harmonizing different points of view, experience and needs is a challenging task. As the CEO of a global business, I know a thing or two about negotiation and compromise, as well as the resulting benefits. Negotiators from the US, Canada and Mexico have resumed talks to modernize the North American Free Trade Agreement (NAFTA). While talks are proving to be difficult in some areas, testing our ability to compromise, we believe there are greater benefits for all. NAFTA is a necessity for our country…
[box type=”info” align=”” class=”” width=””]Rob Smith Formative Content[/box] Spam accounted for around 60% of all emails sent in 2017 – but the problem has persisted for years. The first unsolicited bulk email was reportedly sent in 1978 by Gary Thuerk, a marketing manager promoting a new model of computer. Thuerk pitched to roughly 400 prospects via ARPANET, a forerunner to the modern internet, and reaped $13 million in sales for his company. The e-marketing ploy wasn’t without controversy, however, and as Thuerk himself recalls, “complaints started coming in almost immediately.” A few days after the original e-mail, an ARPAnet representative called Thuerk to voice his…
[box type=”info” align=”” class=”” width=””]John Moavenzadeh Head of Mobility Industries and System Initiative, Member of the Executive Committee, World Economic Forum LLC[/box] I landed at the Buenos Aires airport recently after 14 hours of travel. After making my way through the airport, the immigration officer from the Government of Argentina asked me two questions: Why are you here? Which hotel are you staying at? Imagine for a moment if she had asked me a third question: Are you a terrorist? Immigration officials generally don’t pose this question because, of course, a terrorist would answer “no” and move on. This absurdly…
A Report by Topline Securities Limited Pakistan’s Ministry of Finance published the Annual Pakistan Economic Survey for FY18. As per the Economic Survey, Pakistan’s GDP grew by 5.8% in fiscal year ending June 2018 (FY18), after 13 years, compared to 5.4% in FY17 and last 3-year average GDP growth of 4.7%. This is led by strong growth in Agriculture and Services sectors. GDP grew slightly slower than targeted rate of 6.0% set by Govt. primarily because of lower than the anticipated growth in industrial sector. Industrial sector grew by 5.8% as against the target of 6.4%. Agriculture sector (18.8% weight…
Just the best app experience Grow Online Pakistan, the pioneers in mobile & ecommerce technology for retail industry partnered with Riwayat London, promoting Pakistan’s fashion through ‘Pakistan Fashion Week – London’ for the past seven years, are delighted to announce Pret á Pak, a unique mobile and online shopping platform in UK and Pakistan. This partnership aims to provide to provide international fashion markets within the reach of Pakistani fashion brands and both buyers and sellers a luxurious shopping experience. Pret á Pak will be launched on the next season of PFW13 in London on 30th June – 1st July…
Equities gain 293 points on positive budget-related expectations Summary The investors were expecting some positive incentives for the economy and stock exchange as this was the last budget to be presented by the PML-N government. This led to a high expectations and the market become bullish and the KSE-100 Index gained 0.62% to close at 45,542.78. The average volume too picked up to average 169m and market capitalization Rs 9.391 trillion; higher than last week. Budget related sentiments even absorbed some negative political news like disqualification of Foreign Minister, Khawaja Muhammad Asif and it ignored comparatively healthy results from Dawood…
50 per cent discount on Ramadan groceries starts next week in UAE The Ministry of Economy expects the prices of 10,000 items on shelves in 600 outlets in UAE to be slashed by 25 to 60 per cent and even more during Ramadan. Dr Hashim Al Nuaimi, Manager of the Consumer Protection Department at the Ministry, called on Union Co-ops and other outlets to swiftly announce the discounts for the upcoming holy month, as per Al Bayan. Al Nuaimi added that the ministry has set up several meetings with outlets in order to set a comprehensive Ramadan plan. Primary consumer…
Investment tips: 2019 Lok Sabha elections coming, here’s where you should invest whether Modi loses or wins Indian stocks have been roughed up along with most markets in recent months, but there could soon be reason to cheer. National elections are due by 2019, and modern history shows that tends to be a good thing for investors. While Prime Minister Narendra Modi faces an uphill battle to sustain his party’s majority in the key lower house of parliament, the past six elections show positive returns for Indian equities over the two years that straddle the vote — regardless of whether…
Chinese project financing will dip to $906mn in fy 2018-19 Project financing from China is expected to dip by more than half to only $906 million during the next fiscal year due to completion of work on some major China-Pakistan Economic Corridor projects and a snail’s pace progress on other schemes. “As against revised estimates of slightly over $2 billion Chinese project loans for CPEC and non-CPEC projects in the outgoing fiscal year, the government has estimated receiving only $906 million in the next fiscal year,” said sources in the finance ministry. The estimates for FY2018-19 are $1.12 billion or…
PAKISTAN: Uber’s bike-hailing service is now available in Karachi: Uber, the global smartphone app that seamlessly connects riders to drivers, has launched its bike sharing service uberMOTO in Karachi. This service follows the extremely successful launch of uberMOTO in Lahore last month, giving thousands of people access to quick, convenient and affordable transport at a push of a button through the Uber app. [divider style=”normal” top=”20″ bottom=”20″] Sony’s “3d creator” app now lets you post 3d selfies on facebook: Sony has launched a new update for its 3D Creator App, giving the users more control over the photos captured in…
Pakistan’s logistics sector fully prepared for CPEC: Chairman TCS “Pakistan’s Logistics sector is fully prepared and enthused by the opportunities presented by the China-Pakistan Economic Corridor (CPEC)î. This was stated by Khalid Awan, Chairman, TCS Holdings (Pvt.) Ltd. at the CPEC 2018 Summit and Exhibition held in Karachi on April 23 and 24. Speaking in the session on Logistics, he assured the Chinese participants that the country’s logistics industry was fully capable of meeting the challenging opportunities offered by CPEC projects. He reiterated that TCS is Pakistan’s largest courier and logistics company that offers a large infrastructure of its own…
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] [padding right=”15%” left=”15%”][/padding] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 5.91 6.41 2 – Week 5.95 6.45 1 – Month 5.98 6.48 3 – Month 6.17 6.42 6 – Month 6.27 6.52 9 – Month 6.33 6.83 1 – Year 6.43 6.93 2 – Year 6.97 7.47 3- Year 7.40 7.90
[box type=”info” align=”” class=”” width=””]Andrew Dilley, University of Aberdeen[/box] With the Commonwealth Games in Australia’s Gold Coast, public attention has turned to the oft-neglected Commonwealth of Nations. The 2018 games dovetail with the Commonwealth Heads of Government Meeting (CHOGM) in London on April 16-20, the first since the UK voted to leave the EU. Tales of sporting prowess have competed with speculation about the possibilities the Commonwealth may provide for a post-Brexit Britain. Among hard Brexiters, re-engaging with the Commonwealth offers one of the more seductive “opportunities of Brexit”. Despite cautious neutrality prior to the referendum, and an initial response…
[box type=”info” align=”” class=”” width=””]Steve Schifferes, City, University of London[/box] The UK financial press was much slower to criticise the austerity policies of the government than in other parts of Europe. This meant that it became accepted as the only way to tackle the legacy of the global financial crisis of 2007-08, despite many economists arguing it would further damage the economy. This is the central finding of research published in a new book, The Media and Austerity, which I co-edited with colleagues Sophie Knowles and Laura Basu. The lack of a broader discussion of alternatives to austerity meant that…
[box type=”info” align=”” class=”” width=””]Rosalind Searle, University of Glasgow and Charis Rice, Coventry University[/box] With pension funds in a state of crisis, many organisations are trying to change the costly schemes they have in place, including the umbrella group for UK universities, Universities UK, and telecoms company BT. But while the changes offer respite from unaffordable pensions, they can have other long-term consequences for organisations if they are not handled well. In particular, there can be unexpected knock-on effects for the employees whose schemes are being tinkered with. In our recent research we identified how organisational changes, including those to…
[box type=”info” align=”” class=”” width=””]Cathy Parker, Manchester Metropolitan University; Simon Quin, Manchester Metropolitan University, and Steve Millington, Manchester Metropolitan University[/box] The high street, or the main shopping area, has always been the heart of any UK town or city. But over the last ten years, it’s significance has dwindled. Over 28,000 stores have closed, and footfall has been on a “relentless downward trend”. While commentators often blame store closures on online shopping and poor footfall on the weather, our research uncovered a rather different problem. Retail, society, technology and consumers are – and always have been – locked in continuous…
[box type=”info” align=”” class=”” width=””]Orin Levine Director of Vaccine Delivery, Bill & Melinda Gates Foundation[/box] What would happen if vaccine stocks disappeared overnight? As a parent, I’d be terrified. As an expert, I’d be working overtime because the consequence would be millions of women, children and adults suffering needlessly from preventable diseases. One of the things that vaccines make possible is the eradication of disease. So far, we’ve eradicated one human disease, smallpox, and we are really close with polio. Polio is on its last legs now that we’ve cornered it in just a couple of final populations in the…
[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 The UK has been working towards building its offensive cyber capability since 2013, as part of its approach to deter adversaries and to deny them opportunities to attack, both in cyberspace and in the physical world. But reports that the government considered an offensive cyberattack as part of its response to the poisoning of Sergei Skripal and his daughter in Salisbury on 4 March have brought the issue of whether and when offensive cyber operations would be justified under…
[box type=”info” align=”” class=”” width=””]Brought to you in collaboration with the China Institute of International Studies[/box] The Asia-Africa Growth Corridor (AAGC) is a collaborative vision shared by India and Japan to create a growth corridor and industrial network connecting Northeast Asia, Southeast Asia, South Asia and Africa across the Indo-Pacific region. It has been seen as being aimed at “countering the Belt and Road (the Silk Road Economic Belt and the 21st Century Maritime Silk Road Initiative),” as there is a high level of overlapping in geographic coverage and cooperation fields between the AAGC and the Belt and Road Initiative.…
Grow Online Pakistan, the pioneers in mobile & ecommerce technology for retail industry partnered with Riwayat London, promoting Pakistan’s fashion through ‘Pakistan Fashion Week – London’ for the past seven years, are delighted to announce Pret á Pak, a unique mobile and online shopping platform in UK and Pakistan. This partnership aims to provide to provide international fashion markets within the reach of Pakistani fashion brands and both buyers and sellers a luxurious shopping experience. Pret á Pak will be launched on the next season of PFW13 in London on 30th June – 1st July ’18. A joint venture of…
Market Review The outgoing week maintained a dull note where the index closed at 45,259pts, down by 1.8%WoW on the back of weakening economic indicators. The activity during the week remained lackluster as evident from a decline in both ADT and ADTV by 37%WoW and 19%WoW, respectively. However, foreign investors remained net seller, exhibiting a net outflow of USD47.8mn. During the week, SNGPL announced to invest PKR361bn to expand its network as the utility envisages more than a million new domestic connections within the next 5yrs. Furthermore, government may abolish 5% GST (general sales tax) on locally-manufactured tractors and other…
KSE-100 Index sheds 813 points as bearish sentiments continued Summary The week saw another declining of the Index. The KSE-100 Index closed down below 46,000 level to 45,259.34 on Friday. In the past two weeks KSE-100 Index was brought down 1,378 points. The chaotic political situation led to uncertainty and investors remained cautious. The average volume came down by 37% to 155m and market capitalization further deteriorated Rs9,330 trillion. Notable feature of the week was foreigners turning seller by $41.79m. The reason being selloff by foreigner as the heavy weight OGDC was at a discount. Monday started on a heavy…
VAT relief for gold on the cards in UAE The UAE’s gold jewellery trade hopes for a surprise in the form of a tax relief to boost sales that have gone into a dismal tailspin following the introduction of value added tax (VAT) in January. The trade is waiting for a favourable action from the federal authorities on exempting the value of gold from five per cent VAT. Trade sources said the proposed changes in the VAT mechanism for the gold and jewellery sector would mean that VAT would be levied only on making charges (value addition) and not on…
Cash crunch: Modi govt, RBI say no shortage, but SBI research pegs shortfall at whopping Rs 70k cr Even as government and Reserve Bank have asserted that there is no currency shortage, SBI Research pegged the cash shortfall in the system at a whopping Rs 70,000 crore, which is a third of the monthly withdrawals at ATMs. In a note that comes a day after reports of currency shortages made national headlines, it depended on nominal economic growth, currency with the public and the rise in digital transactions to arrive at the shortfall estimate. A 9.8 per cent nominal GDP…
Debt-To-GDP ratio to hit 15-year high in Pakistan Pakistan’s public debt in terms of total size of the economy is estimated to jump to a 15-year high of 70.1% by the end of PML-N government’s tenure, exposing the country to many risks and giving less room for human development spending. The Ministry of Finance finally acknowledged before the federal cabinet on Tuesday that the public debt-to-gross domestic product (GDP) ratio was estimated to peak at 70.1% by the end of fiscal year 2017-18 in June. The high ratio violates the Fiscal Responsibility and Debt Limitation (FRDL) Act of 2005. Finance…
PAKISTAN: Clickmall’s 1st anniversary “bari bachat sale” is now live: Clickmall is celebrating its 1st anniversary with Bari Bachat Sale. The e-commerce venture of Orient Group of Companies started its operations on 13th April 2017. Since then, it has managed to make a repute for itself by providing genuine products, exceptional services, an amazing Cash on Delivery limit of up to 1.5 lacs and a consumer-centric pricing policy. [divider style=”normal” top=”20″ bottom=”20″] Pakistan’s first wordcamp is being held in Karachi by wordpress meetup: The most awaited event for tech-savvy and WordPress developers – “WordCamp” – is about to begin. So, mark your…
TPL Life Insurance opens Pakistan’s First Epidemic Based Digital Insurance Products As another first in Pakistan, TPL Life has launched Pakistan’s first epidemic based insurance products which can be bought online from the company’s website – and all it takes is less than 3 minutes to make the purchase through TPL Life’s end to end digital processes. As an initiation, TPL Life has launched 3 Epidemic Insurance Products which offer financial assistance to the consumers in case of suffering from Mosquito Borne &/or Water Borne illnesses such as Malaria, Dengue, Chikungunya, Yellow Fever, Cholera, Hepatitis A and E, Typhoid, Diarrhea…
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] [padding right=”15%” left=”15%”][/padding] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 5.90 6.40 2 – Week 5.93 6.43 1 – Month 5.96 6.46 3 – Month 6.16 6.41 6 – Month 6.27 6.52 9 – Month 6.31 6.81 1 – Year 6.43 6.93 2 – Year 6.95 7.45 3- Year 7.35 7.85
[box type=”info” align=”” class=”” width=””]Jonathan Perraton, University of Sheffield[/box] Economic acrimony has been bubbling between the US and China since Donald Trump became president. Now the tensions have boiled over into escalating tit-for-tat announcements of tariffs on key imports. This is serious not just for the US and China, but for the entire global economy and the UK, in particular, as it hopes for a free trade Brexit. As Christine Lagarde, the International Monetary Fund director, has warned: the world trade order “is now in danger of being torn apart”. Anyone familiar with Trump’s zero sum approach to international trade…
[box type=”info” align=”” class=”” width=””]Arturo Bris, IMD Business School and Michael Wade, IMD Business School[/box] When Spotify finally went public on the New York Stock Exchange on April 3 as SPOT, it did so in a very unconventional way. For one thing, there was none of the usual fanfare. The CEO didn’t ring the opening bell; in fact, he didn’t even show up. The media covering the event had to talk among themselves as no one from the company was available for interviews. The initial public offering (IPO) was unusual in other aspects as well. To start with, it was…
[box type=”info” align=”” class=”” width=””]Frank Fredericks Executive Director, World Faith[/box] Communal violence is pervasive, continuous, and global. Killing between 55,000 and over 100,000 people each year (excluding non-communal homicide), violent conflict plagues the news with salient stories of death, fear, and destruction. As a result, this violence costs the world $14.3 trillion in damages and lost productivity (adjusted for Purchasing Power Parity) every year. Paradoxically, despite this huge price tag, only $15 billion is spent on peacebuilding and peacekeeping each year, while global military spending sits at $5.6 trillion. Judging by this resource allocation, it’s no surprise that we live in a world in which…
Adviser to PM on Aviation Division Mr. Sardar Mehtab Ahmed Khan inaugurates country’s largest fuel farm facility jointly set up by PSO and APL at new Islamabad International Airport Mr. Sardar Mehtab Ahmed Khan, Adviser to Prime Minister on Aviation Division, inaugurated Pakistan’s largest and most advanced Fuel Farm Facility at the New Islamabad International Airport (NIIAP) on Thursday April 12, 2018. The facility is jointly developed by Pakistan State Oil (PSO), the nation’s largest Oil Marketing Company with operations at 9 major airports and over 35 years of experience in fuelling the aviation industry, and Attock Petroleum Limited (APL),…
COPPERGAT Wire & Cable a value based organization (VBO), an icon of trust and reliability is a born quality flagship brand among leading quality manufacturers of Building wire and Power Cables in Pakistan and in the SAARC region. We are pleased to be working on numerous factors to establish technological excellence and global reach those are the milestone of our business strategy. The Group’s exceptional growth and operational excellence has been awarded with strong business competencies that have served solid foundation for expansion of our Portfolio into many new markets. This fast growing network of offices, subsidies and unique concept…
Despite foreigners support, stocks decline by 566 points on political uncertainty Summary Market remained in grip of political uncertainty during the week which kept it in negative zone although foreigner remained buyers for all five sessions with total purchases of $17.45m. The matter relating to amnesty scheme, ex PM NAB cases and disqualification matter and election dates kept the investors guessing although during week some of them were clarified. The market during the week shed 1.21% points WoW while it gained 8.4pc during the last four weeks. It seems that market has taken a correction and profit-taking after continuous positive…
Why holistic AI policies are the need of the hour Countries that are on the path towards becoming the digital leaders of the future will need to come up with a holistic artificial intelligence (AI) policy, says Amir Husain, founder and CEO of SparkCognition. Speaking at the launch of the company’s office in Dubai, Husain said there are no shortcuts when it comes to AI. “It took many years for the US, which is today considered to be the leader in AI technologies, to come this far. However, we have seen a lot of great steps being taken in the…
Digital transformation to add $154 billion to India’s GDP by 2021, says Microsoft Digital transformation in the country is expected to contribute about USD 154 billion to India’s GDP by 2021, tech giant Microsoft said. The study by Microsoft and IDC, titled “Unlocking the economic impact of digital transformation in Asia Pacific”, said there has been a dramatic acceleration in the pace of digital transformation across India and Asia-Pacific economies. “In 2017, about 4 per cent of India’s GDP was derived from digital products and services created directly through the use of digital technologies like mobility, cloud, internet of things…
Asian Development outlook 2018: Pakistan’s growth to slow down to 5.1pc in fy19: ADB After five years of upward movement, Pakistan’s economy is expected to slow down to 5.1% in the next fiscal year 2018-19 because of growing external account challenges, said the Asian Development Bank (ADB) on Wednesday. The Manila-based lending agency has advised Pakistan to tighten the monetary policy and let the rupee further depreciate to tackle external account challenges. Owing to the widening current account deficit, “securing adequate financing to contain the drawdown in foreign exchange reserves is a concern,” cautioned the ADB in its annual flagship…
PAKISTAN: Nokia 6 2018 launched in Pakistan: Nokia came back strong to the phone market, on the back of its solid mid-range lineup. Nokia 6 was among them, and now Nokia is refreshing it with new features, keeping the overall formula same as last year. Unlike other phones available in this price range, Nokia 6 2018 comes with the familiar 5.5-inch 16:9 aspect ratio Full HD (1920 x 1080) display with an IPS LCD panel. What’s changed from last year is the fingerprint sensor, which has been moved to the back. The bezels have also been trimmed a bit. [divider…
First Karachi Art Festival by Nigaah celebrated The two-day event, Karachi Art Festival powered by Nigaah kicked off at Beach Luxury Hotel on 7th and 8th April. With an objective to bring art into public domain KAF provided accessible platforms for art interactivity. Starting with a keynote speech by Hameed Haroon, CEO Dawn Media Group, the programme encompassed art discourse attended by art critics, historians, collectors and curators and general public. Tauqeer Muhajir, Editor of Nigaah stressed that by actively encouraging social involvement and developing diverse cultural activities, Karachi Art Festival is not about elitism but inclusion of general public.…
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] [padding right=”15%” left=”15%”][/padding] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 5.91 6.41 2 – Week 5.94 6.44 1 – Month 5.98 6.48 3 – Month 6.16 6.41 6 – Month 6.24 6.49 9 – Month 6.29 6.79 1 – Year 6.41 6.91 2 – Year 6.91 7.41 3- Year 7.35 7.85
[box type=”info” align=”” class=”” width=””]Damian Tobin, SOAS, University of London[/box] The current trade dispute between the US and China is part of an unfolding reality in international trade that has its origins in the early 1970s when relations first began to thaw between the two countries. Past economic isolation has taught China’s leadership that the technology required for many high-tech sectors could not be developed indigenously. Subsequently, technological and supply chain advantages have allowed US firms to gain a strategic foothold in key sectors of the Chinese economy. This indicates that threats to limit trade with each other is a…
[box type=”info” align=”” class=”” width=””]This article is written in collaboration with Visual Capitalist Jeff Desjardins Founder and editor of Visual Capitalist[/box] Can money buy you happiness? It’s a longstanding question that has many different answers, depending on who you ask. Today’s chart approaches this fundamental question from a data-driven perspective, and it provides one potential solution: money does buy some happiness, but only to a limited extent. Charting the Relationship Between Money and Happiness Image: Visual Capitalist Money and happiness First, a thinking exercise.…
[box type=”info” align=”” class=”” width=””]Tidhar Wald Head of Government Relations and Public Policy, Better than Cash Alliance, United Nations[/box] Tackling corruption is high on government agendas. Such a pervasive problem demands new solutions, especially in light of the latest Corruption Perceptions Index, which shows that the majority of countries have made little or no progress in the fight against corruption since 2012. The ranking, which uses a scale of zero to 100, where zero is highly corrupt, found that more than two-thirds of countries score below 50, with an average score of 43. A significant impediment to progress is the problem…
[box type=”info” align=”” class=”” width=””]Rob Smith Formative Content[/box] China’s digital economy has experienced massive growth over the last decade. About 10 years ago China accounted for less than one percent of the global e-commerce market; today its share is 42%. In comparison, the United States’ share of the market is 24%, down from 35% in 2005, as this graph illustrates. Image: McKinsey Global Institute Such is China’s dominance in e-commerce, it now handles more transactions per year than France, Germany, Japan, the United Kingdom and the United States combined. That is according to a report from the McKinsey Global Institute, which assesses…
STOCKS TURNED INTO BULLISH TONE, INDEX SETTLE ABOVE 46,000-MARK Summary The PSX stocks have been continuously gaining momentum since three weeks starting from March 12 till date. KSE-100 Index has been advancing 0.8%, 3.8% and 1.2 % for the last three weeks. The Index has crossed from 43,000 level to 46,000 level as on April 6, 2018. The clarity and calmness on political front along with some economic steps taken seem to give confidence to the investors and strengthening the stock market. Overall there was improvement in all the indicators of PSX. The KSE -100 Index gained 1,077 points. This…
UAE among 20 least complex tax jurisdictions in the world The UAE is among the 20 least complex jurisdictions in the world for accounting and tax compliance, new data revealed on Wednesday. The UAE came in at 74th, indicating an increase in complexity since its 2017 inaugural ranking of 92, according to TMF Group’s Financial Complexity Index 2018. The UAE’s rise in complexity this year is largely driven by the introduction of the emirates’ first VAT in January 2018, said TMF Group’s regional director for Middle East and Africa Jonathan Wheeler. “The VAT is a fundamental change to the way…
India’s manufacturing sector growth falls to 5-month low in March: PMI India’s manufacturing sector activity fell to a five-month low in March, as new business orders rose at a slower pace, and firms showed little appetite for recruitment, says a monthly survey. The Nikkei India Manufacturing Purchasing Managers Index (PMI), fell from 52.1 in February to a five-month low of 51.0 in March, indicating the slowest improvement in operating conditions recorded by the survey since last October. This is the eighth consecutive month that the index remained above the 50-point-mark. In PMI parlance, a print above 50 means expansion, while…
Govt removes ban on furnace oil imports as energy demand rises The government has lifted the ban on import of furnace oil for running power plants and has directed state-owned Pakistan State Oil (PSO) to place orders for bringing fuel cargoes in order to meet growing electricity demand in summer. Talking to the source, a senior government official said the Ministry of Energy (Petroleum Division) had written to PSO, asking the oil marketing giant to resume the import of furnace oil. “The Cabinet Committee on Energy has decided to resume import of furnace oil to meet growing demand from power…
PAKISTAN: Govt to set up a $75 million fund for giving loans to entrepreneurs: The government, through State Bank of Pakistan (SBP), is setting up a fund for startups in the country. Startups and budding businesses will not be getting it for free, they are only allowed to borrow from the $75 million fund. The government will be disbursing the amount to credit lending institutions and micro-finance banks, which will then loan it to startups. [divider style=”normal” top=”20″ bottom=”20″] Not to trade in bitcoin, cryptocurrencies: SBP State Bank of Pakistan has issued a warning to all banks, payment services providers…
Shell Rimula Opens ‘What Matters Is Inside’ campaign Shell Rimula – the premium heavy duty engine oil launched a new campaign, “What Matters is Inside”. The campaign portrays the daily toils of Pakistani truck-drivers, and farmers emphasizing their tireless efforts put in each day to achieve their goals and reach their destinations safely. The campaign, champions the people within these professions, recognizing there is more to these individuals than what meets the eye. For many, the job of a truck driver and farmer doesn’t immediately paint an inviting image in our minds. The rugged exterior is overpowering and it is…
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] [padding right=”15%” left=”15%”][/padding] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 5.89 6.39 2 – Week 5.94 6.44 1 – Month 5.98 6.48 3 – Month 6.17 6.42 6 – Month 6.25 6.50 9 – Month 6.28 6.78 1 – Year 6.39 6.89 2 – Year 6.94 7.44 3- Year 7.33 7.83
[box type=”info” align=”” class=”” width=””]Alexandre Nobajas, Keele University[/box] Huge outcry ensued from my recent article about how Brexit would hurt Britain’s bottled water industry. The outcry wasn’t to do with Brexit. Instead, it was over the very existence of a bottled water business. There were environmental concerns relating to the huge amount of plastic that the industry involves, not to mention the fuel used in transporting the bottles. There were also suggestions that the industry is a “scam” in countries where people can access perfectly good water from the tap. So who had the great idea of selling something which,…
[box type=”info” align=”” class=”” width=””]Adam Jezard Formative Content[/box] While governments and central banks often talk about inflation, few citizens have a real understanding of how price increases and fluctuations in the value of money affect their daily lives. So research by the European Trade Union Institute (ETUI), which says workers in nine European Union member states earned less in 2017 than they did in 2010, may come as an unpleasant shock to many. Worse, people in six of those countries – Italy, the UK, Spain, Belgium, Greece and Finland – also earned less in 2017 than they did in 2016,…
[box type=”info” align=”” class=”” width=””]David Aikman Chief Representative Officer, China, Member of the Executive Committee, World Economic Forum Beijing[/box] 1. China is creating its own clouds In a bid to address water shortages, China is trying to change the weather itself. The new climate-modification system consists of an enormous network of fuel-burning chambers high in the Tibetan mountains, which transform moist monsoon winds from south Asia into rain using a cloud-seeding agent called silver iodide. Covering an area three times the size of Spain, it could boost the region’s rainfall by up to 10 billion cubic metres a year – or about 7%…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Mar 28, 2018[/box] In recent weeks, Houthi rebels in Yemen have escalated their missile attacks on Saudi Arabia with Iranian support. This week marks the third anniversary of Saudi intervention in Yemen’s civil war and it was marked by a major ballistic missile attack on Saudi cities. Seven missiles were fired from Yemen in total including three that were aimed at the capital of Riyadh. On Sunday night, Saudi Colonel Turki al-Maliki said that all seven ballistic missiles were intercepted and destroyed. Analysts have cast doubt on that claim and questioned the effectiveness of the U.S. built Patriot…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Mar 28, 2018[/box] Under new reforms announced by President Macron, French children will start school at the age of three instead of six from September 2019. However, this is only likely to affect a small share of children as most parents already send their children to school at three anyway. Macron said that the change should reduce inequality in education as poorer parents and families in overseas territories are not as likely to send their children to school at an early age. How does France compare with other European countries? Across much of the continent, including Germany,…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Mar 28, 2018[/box] Apple announced a new iPad on Tuesday at an event focused entirely on the education market. The new 9.7-inch tablet will cost $299 for schools ($329 for everyone else) and support the Apple Pencil, which was previously limited to the significantly more expensive iPad Pro. Apple also announced a bunch of new software tailored to educational needs, including Schoolwork, a classroom management app for teachers that enables them to hand out digital assignments to their students. Despite having repeatedly stressed how important the educational market is to the company, Apple…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Mar 29, 2018[/box] According to estimates by New York State Comptroller Thomas DiNapoli, the average bonus paid to securities industry employees in New York City went up 17 percent last year to $184,200. That’s a level not seen since before the financial crisis. It’s also more than triple the national median household income which was $59,039 in 2016. The average bonus last year wasn’t far off the record $191,360 from 2006, right before the financial crisis struck. In total, the 2017 bonus pool came to $31.4 billion, up from $26.9 billion in 2016. The report said…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Mar 29, 2018[/box] If you’re planning on traveling the world, you better make sure you have a proper travel adaptor in your rucksack. As well as incredible linguistic and cultural diversity, the planet also has a multitude of different sockets and this can prove a nightmare for the ill-prepared. The following infographic attempts to provide a global guide to plugging in by visualizing the major outlet types in use in different countries. [ads1] You will find more infographics at Statista
[box type=”info” align=”” class=”” width=””]by Felix Richter, Mar 20, 2018[/box] In recent months, public pressure on Facebook and other social media platforms has been mounting to assume some degree of responsibility in the efforts to contain the spreading of false information or “fake news”. In fact, more and more people are questioning whether the benefits of social media in its current form outweigh the problems associated with it. According to a Gallup/Knight Foundation Survey on Trust, Media and Democracy, published earlier this year, the majority of Americans think that the effect of social media on the U.S. news landscape has…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Mar 29, 2018[/box] After an action-filled NCAA basketball tournament worthy of its nickname, March Madness is culminating in the Final Four on Easter weekend. As basketball fans across the United States are looking forward to find out who will emerge as the winner from this year’s tournament full of last-gasp winners and historic upsets, sports fans from other parts of the world tend to be surprised by the attention given to the event. After all, it’s “only” college sports. The love of college sports is in fact unique to the United States and what…