Market Review The stock market managed to close in green at 45,560pts during the week, exhibiting an increase of 530pts (1.2%WoW). The outgoing week recorded a high of 45,605 level amid optimism over investor friendly proposals for Budget FY19. Therefore, local participation picked up as witnessed by a rise of 24% and 13% in ADT and ADTV, respectively. Additionally, foreign participation also exhibited net inflow of USD1.9mn. During the week, Ghandhara Nissan announced its green-field investment to launch Datsun cars in Pakistan with an investment of PKR4.5bn over the next 4 years. Also, Sazgar Engineering was awarded a green-field status…
Author: AdminPAGE
Stocks continued upward movement, gain 530 points Summary Pakistan rupee depreciation, which is regarded as favorable for Pakistan Stocks Exchange (PSX) continued to influence investors sentiments along with buying attitude of the foreigners turned this week profitable week for the PSX. The average volume too this week increased to 240m as market capitalization climbed to Rs9,370 trillion. On Monday trading started on dull note and the volume also declined by 18 percent to 188m. The investors exercised control as this was a roll-over week. The Index traded in the range of 330 points and gained 53.35 points to close at…
Aldar unveils homes on reem island Aldar Properties on Saturday announced the launch of Reflection – a Dh440 million residential development on Reem Island. The Abu Dhabi-based developer said sales for Reflection will commence on March 31 at Aldar’s sales centre on Yas Island, with prices starting from Dh580,000. Reflection consists of 2 towers offering 374 homes, comprising studios, 1, 2 and 3-bedroom apartments. It is available for purchase by all nationalities. Talal Al Dhiyebi, chief executive officer, Aldar, said: “We have witnessed sustained demand for this type of product – led by high-end amenities in prime locations and affordable…
CEA Arvind Subramanian says need clear protocol for sharing GST data Chief Economic Advisor Arvind Subramanian made a case for developing a clear protocol for sharing of GST data with government departments, saying it is a reflection on state’s capacity and can also be used to estimate GDP in a better manner. He further said that the introduction of e-way bill and matching of invoices will enormously help in increasing tax buoyancy and revenue collection. Speaking at an event to mark GST Network Foundation Day, Subramanian said GST data will provide better insights into economy, formal sector employment and exports…
Bureaucracy plans to stop fund release without project documents The bureaucracy has finally decided to meet all procedural requirements before disbursing funds under the prime minister’s directives, but it comes only after the budget for discretionary spending has surged to Rs73 billion in less than nine months of the current fiscal year. Top bureaucracy of the Ministry of Finance and the Ministry of Planning decided last week that funds would not be disbursed in future without first securing approved project documents, said sources in the finance ministry. The decision came days after the chief justice of Pakistan hinted at taking…
PAKISTAN: Jazz and PTCL top PTA complaint charts again: Pakistan Telecommunication Authority (PTA) received 2,757 complaints from telecom consumers against different telecom operators including (cellular operators, PTCL, LDIs, WLL operators and ISPs) during February 2018. According to PTA data, Jazz (Mobilink + Warid) led the charts with 770 complaints and PTCL stood at second position as the most complained telecom operator with 765 complaints. [divider style=”normal” top=”20″ bottom=”20″] Xiaomi redmi note 5 pro is coming to Pakistan: Xiaomi’s budget and feature-rich Redmi series is the company’s bestselling range which delivers bang-for-buck devices and is quite popular in the mid-range market. Among this series,…
Bringing in institutional reforms good for democratic governance: Ishrat Hussain Former Governor SBP speaks on ‘governing the ungovernable’ book session at IBA Karachi Institute of Business Administration Karachi organized a distinguished lecture by Dr. Ishrat Husain, Former Dean and Professor Emeritus, IBA Karachi on “Governing the Ungovernable” at the IBA City Campus, Karachi. The session was moderated by Dr. Farrukh Iqbal, Dean and Director, IBA Karachi and attended by luminaries from all walks of life, alumni, faculty and students of the IBA. The lecture was aimed at examining the reasons behind the volatile and inequitable growth of Pakistan during the last twenty-five years and how Institutional…
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 5.93 6.43 2 – Week 5.99 6.49 1 – Month 6.03 6.53 3 – Month 6.25 6.50 6 – Month 6.36 6.61 9 – Month 6.38 6.88 1 – Year 6.44 6.94 2 – Year 7.12 7.62 3- Year 7.52 8.02
[box type=”info” align=”” class=”” width=””]Evangelos Kontopantelis, University of Manchester[/box] Young people are poorer than older people. And it’s not simply because the old have worked all their lives and are enjoying the fruits of their labours in their sunset years. The wealth gap between the young and the old is on the rise in England. These were the stark findings of our research into deprivation levels between 2004 and 2015. We measured wealth (or lack thereof) using the the UK government’s English Index of Multiple Deprivation data, which pulls together relative deprivation across seven domains: income, employment, education and skills,…
[box type=”info” align=”” class=”” width=””]Nicholas Ross Smith, University of Nottingham and Zbigniew Dumieński[/box] There has been a lot of talk in foreign policy circles of the coming post-American world – in which the international system will transition from a unipolar to a multipolar system. But, as we currently stand, the US remains unquestionably the foremost power of the contemporary system. Much of this perceived power is built on its position at the heart of the international trade and finance system. It’s not the rise of another powerful state that could disrupt this. Instead, it is the rise of a new…
[box type=”info” align=”” class=”” width=””]Richard Gower Senior Associate, Economics and Policy, Tearfund[/box] As the Bulawayo road curves out of Zimbabwe’s capital Harare, groups of would-be travellers wait along the dusty edges, hoping for a ride. And if you mention that you are travelling cross-border, space in your suitcase will be begged and borrowed for use as a miniature shipping container. This is the low-tech sharing economy. As its digital equivalent takes off, how might it help those in poverty? In rich countries, platforms like Uber, Airbnb and Verbling allow those with assets (cars, houses, skills, time, money) to connect with…
[box type=”info” align=”” class=”” width=””]Callie Stinson Project Lead, Water Initiative, World Economic Forum[/box] The global water and sanitation crisis is not a new story. Each World Water Day we review the sobering statistics with which we are becoming all too familiar: the expected 40% gap in global water supply and demand by 2050. The billions of additional dollars still needed to finance water infrastructure. The 4.5 billion people who lack access to safely managed sanitation services. The fact that water crises have ranked among the top global risks in terms of potential impact seven years in a row. What these sorts of…
Market Review The benchmark index remained bullish during the week after currency devaluation of 5%, increasing 1,516pts to close at 45,030pts, a rise of 3%WoW. The recent PKR depreciation was well received, mainly by the local participants as witnessed by a rise of 10% in ADT and 38% in ADTV. Moreover, foreign participation also exhibited net inflow of USD0.16mn. During the week, textile exports increased by 7%YoY to USD8.8bn in 8MFY18 as knitwear exports and readymade garments exhibited growth of 13.3%YoY and 13.1%YoY, respectively. Additionally, Unilever announced plans to invest USD120mn to expand its manufacturing operations over the next two…
Sudden & sharp depreciation of rupee push index above 45,000 points Summary In the open market dollar was selling Rs.111.80 on Monday. The rate suddenly jumped to around Rs.115.50 on Tuesday. The rise depict almost 4% rupee depreciation against the US dollar created weak-rupee euphoria in the market. The change of rupee-dollar parity led investors to speculate more as to how low the rupee could go, interest rate hike in upcoming monetary policy and the statement of Advisor to Prime Minister Miftah Ismail “current devaluation is good thing”. The pick-up in exports and a slowdown in the rate of growth…
Adnoc signs dh4.3b concession deals with China oil giant The Abu Dhabi National Oil Company (Adnoc) announced on Wednesday that it had signed two offshore concession agreements valued at Dh4.3 billion with the China National Petroleum Corporation (CNPC), the world’s third largest oil company. Under a 40-year agreement, CNPC, through its majority-owned listed subsidiary PetroChina, was granted a 10 per cent interest in the Umm Shaif and Nasr concession and a 10 per cent interest in the Lower Zakum concession. PetroChina paid a participation fee of Dh2.1 billion for the Umm Shaif and Nasr concession and a fee of Dh2.2…
No violation in rs 7,266 crore bid for Binani Cement under IBC: Ultratech Aditya Birla group firm UltraTech Cement on said that it has not violated the IBC in offering a Rs 7,266 crore bid to acquire debt ridden Binani Cement (BCL), which was already set to be sold to the Dalmia Bharat group by its creditors. UltraTech has announced to acquire BCL by providing Rs 7,266 crore to its parent company Binani Industries Ltd (BIL) against bid of Rs 6,350 crore along with 20 per cent equity in BCL by Rajputana Properties, a part of Dalmia Bharat group, approved…
Govt plans to scrap sugarcane support price The federal government has decided to do away with the support price mechanism for sugarcane crop and come up with a new pricing system that is linked with the wholesale price of sugar, which is a byproduct of sugarcane. It arrived at the decision in a cabinet meeting in a bid to appease the protesting farmers, who have been exploited by the influential sugar barons of the country. Even the apex court took notice of the matter as sugar millers were dilly-dallying on the purchase of sugarcane from the growers. The cabinet meeting…
PAKISTAN: Jazz commences super 4g experience bus tour: Jazz has commenced a nationwide experience bus tour in promotion of its Super 4G service. Three Jazz branded buses have begun a two-month long tour of universities and public places in the North, Central and Southern regions of the country. For this purpose, a launch ceremony was held at Jazz Digital HQ under the presence of Aamir Ibrahim, CEO – Jazz. [divider style=”normal” top=”20″ bottom=”20″] Daraz Pakistan day deals offers up to 70% off: In commemoration of the 78th Pakistan Day, Daraz is proud to present the Pakistan Day Sale, from March…
Metro Cash & Carry And P&G’ hope in alliance to provide clean drinking water Leading up to World Water Day, Procter & Gamble (P&G) announces its continued collaboration with METRO Cash & Carry and Health Oriented Preventive Education (HOPE) to provide clean drinking water to Pakistani communities in need through its Children’s Safe Drinking Water (CSDW) program. P&G announced its commitment for the fourth year of its disaster-relief effort through this partnership to provide 11 million liters of clean drinking water to Pakistani communities during the year, reaching an estimated 50,000 people in need. P&G also announced its clean water…
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 5.93 6.43 2 – Week 5.98 6.48 1 – Month 6.01 6.51 3 – Month 6.20 6.45 6 – Month 6.28 6.53 9 – Month 6.32 6.82 1 – Year 6.40 6.90 2 – Year 7.03 7.53 3- Year 7.45 7.95
[box type=”info” align=”” class=”” width=””]Anwar Halari, The Open University[/box] If you haven’t already heard of Bitcoin, you either haven’t been paying attention or you’re a time traveller who just touched down in 2018. Because by now, most of us will have heard of Bitcoin and some of us have even jumped on the bandwagon, investing in cryptocurrencies. But despite its popularity, many people still don’t understand the technology that underlines it: blockchain. In very simple terms, blockchain technology is an open access shared ledger that keeps a record of all the transactions between parties and allows all users to agree…
[box type=”info” align=”” class=”” width=””]Karen Rowlingson, University of Birmingham[/box] Michael Sheen has just launched the End High Cost Credit Alliance. The actor has supported various charitable causes over the years and is now leading this effort to support alternatives to high cost credit which has increased in recent years, not least in his home town of Port Talbot. The alliance was formed in response to the fact that those on the lowest incomes pay the most to borrow money even where they are borrowing for essentials. This is compared to those on higher incomes who can generally borrow at lower…
[box type=”info” align=”” class=”” width=””]Sohail Hasnie Principal Energy Specialist, Central and West Asia Department, ADB Sungsup Ra Director, Human and Social Development Division, South Asia Regional Department, ADB[/box] Think of a modern farm. You might imagine neat rows of crops, shiny new tractors, perhaps mechanized irrigation systems. But you’d be only partly right. For truly modern agriculture, we need to look to the skies. Because that’s where drone technology will work its magic. Drones will have a particularly powerful impact in the developing world, whose mostly smallholder farmers face enormous challenges producing quality food and selling it for a decent…
[box type=”info” align=”” class=”” width=””]Briony Harris Formative Content[/box] Finland is top of the world for happiness, according to the World Happiness Report 2018, closely followed by Norway, Denmark, Iceland, Switzerland and the Netherlands. Nordic countries take four out of the five top spots, and are well known to be stable, safe and socially progressive. There is very little corruption, and the police and politicians are trusted. Image: REUTERS/Ints Kalnins Money can’t buy happiness But some of the world’s richest nations, including the US and Japan, are found much further down the list. The disparity between wealth and happiness has caused policymakers…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Mar 16, 2018[/box] From March 19 to March 23, the global video game industry will convene in San Francisco for the annual Game Developers Conference. Attracting more than 26,000 attendees, the event, organized by the UBM Game Network, is the largest forum for all professionals involved in the development and distribution of video games. Due to the fact that media coverage of the gaming industry often focuses on hardware and on the question of which video game console is doing best, it’s easy to underestimate the size of the software side of things. According to data published…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Mar 15, 2018[/box] Having announced tariffs on steel and aluminum imports last week, the Trump administration is reportedly getting ready to hit China with more tariffs in response to the country’s alleged intellectual property theft. According to people familiar with the matter cited by Reuters, Trump aims to impose tariffs on Chinese goods worth $60 billion a year, predominantly targeting the technology and telecommunications sector. Experts are certain that such drastic measures would provoke retaliatory action from Beijing which could have disastrous consequences for U.S. industries and companies doing business in China. The agricultural and automotive…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Mar 12, 2018[/box] The EU has an effective system in place to help keep consumers safe from dangerous products. Every day, product safety specialists, stakeholders, manufacturers, border officials and scientists from across the EUas well as in Iceland, Norway and Liechtenstein, share information to track down defective or dangerous products and remove them from the market. It is called the Rapid Alert System and last year, there were 2,201 alerts for dangerous non-food products, according to the European Commission. They were followed by 4,000 actions by authorities in other countries who helped take measures to…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Mar 12, 2018[/box] Last Friday, thousands of people in the United States and internationally put away their phones for 24 hours to commemorate National Day of Unplugging, “a 24 hour global respite from technology”. It’s an initiative that fits well with the current zeitgeist, as more and more people start to question our society’s unabashed love of technology. Ever since the first iPhone arrived in 2007, smartphones have gradually taken over our lives. We use them to listen to music, take photos, follow the news and sometimes even to make phone calls. They have…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Mar 15, 2018[/box] Earlier this week, President Trump fired his secretary of state, Rex Tillerson. He announced the firing in a tweet, adding that he intends replacing him with CIA director Mike Pompeo. The relationship between Trump and Tillerson was turbulent at times, involving frequent disagreements and policy clashes. Tillerson was even reported to have called Trump a “f**king moron” last summer, a report he did not deny. Tillerson’s dismissal comes hot on the heels of Communications Director Hope Hicks announcing her resignation. As can be seen from the following infographic based on a USA Today report,…
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Mar 16, 2018[/box] Vladimir Putin is so confident going into Sunday’s election, that he hasn’t even bothered going on the campaign trail in the run up to the polls opening. There are a number of reasons why he can be so sure of victory – his high approval ratings and lack of strong opposition (this at least in part engineered by Putin himself), for example – but for many there is a big question mark over the legitimacy of Russia’s elections. As Gallup surveys over the last few years have shown, even in Russia, those confident…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Mar 16, 2018[/box] The World Health Organisation (WHO) has said that it is launching a review of the potential risks of plastic particles in drinking water. The announcement comes after a study found that over 90 percent of the world’s most popular bottled water brands contain microplastic. The analysis was conducted by the State University of New York in Fredonia as part of a project from Orb Media. 259 bottles were bought in China, Brazil, India, Indonesia, Mexico, Lebanon, Kenya, Thailand and the United States. Out of all the bottles tested, only 17 were found to be plastic-free…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Mar 15, 2018[/box] Having repeatedly stated his discontent about his country’s role in world trade, U.S. President Trump is currently pushing for a more protectionist policy, threatening to impose tariffs on imported goods. Next to China, the largest import partner of the United States, and the country’s neighbors to the North and South, the European Union stands to lose the most if the current tensions should escalate into a full-blown trade war. Europe’s car industry should be particularly worried, as Trump has threatened to increase tariffs on passenger car imports from the EU more than once…
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Mar 14, 2018[/box] Despite still dealing with the fallout from 2015’s ‘dieselgate’, German car maker Volkswagen almost doubled its operating profit from 2016 to 2017. As shown in the company’s latest annual report, this result is also reflected in the remuneration of the management board. Despite being paid less than under the company’s pre-2016 rules would have allowed, the huge increases mean that the new €10 million cap for the CEO has already been reached – Müller’s remuneration exceeds this limit due to other perks and retirement provisions on top of his basic pay…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Mar 13, 2018[/box] Both Instagram and Snapchat have risen to fame by winning over young digital natives before breaking through to the mainstream. These days, both platforms are still particularly popular among teenagers and people in their twenties, but both are gradually increasing their reach across all age groups. According to a recent Pew Research study, 40 and 26 percent of Americans aged 30 to 49 are using Instagram and Snapchat, respectively, these days, making them much less of a parents-free zone than many teenagers might like. Both platforms are no match for Facebook in terms of…
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Mar 15, 2018[/box] As the latest World Happiness Report shows, in a country in which the domestic born population is happy, the same can usually be said for its foreign born residents. As such, Finland is home to the happiest people in the world – domestic and foreign born. As our chart shows though, there are, to some extent, exceptions. In Mexico for example, the immigrant population ranks tenth in the world for happiness, whereas when asking those born in the country, it slips to 24th place. The opposite can be observed in Switzerland and the Netherlands…
Asia Insurance Company Limited is one of the fastest growing Insurance Companies of Pakistan. The company offers various solutions which are inclusive, economical and tailored for its valued clients. The company’s aim is to provide a steady hand, helping people to stand back onto their feet when they experience a mishap while prudently managing risks. Introduction Asia Insurance Company Limited was established in 1979 as a Public Limited Company and commenced its business in 1980. The Company is listed and quoted on Pakistan Stock Exchange. We are a composite Insurance Company which has been authorized by Securities & Exchange Commission…
We are in the business of providing a full range of non-life insurance products and services customized to meet the varied needs of a wide spectrum of businesses and industrial clients as well as individuals, providing Property, Marine, Aviation, Motor and other Miscellaneous products. In addition to this, Window Takaful operations have also been started since 6th May 2015. The Company was incorporated on September 2, 1932. The shares of the Company are quoted on Pakistan Stock Exchange. EFU is one of the few Pakistani organizations run totally by professional management and highly motivated field force. Policies accepted by all…
The Bahrain based leading Islamic banking group Al Baraka Banking Group B.S.C. (ABG) announced that the Group and six of its units won Islamic Finance News Awards 2017 through the annual comprehensive referendum conducted by the Islamic Finance News magazine. Al Baraka Banking Group won Bahrain Deal of the Year Award and Regulatory Capital Deal of the year Award for its US$ 400 million Tier 1 Sukuk. Moreover, and for the fifth consecutive year, Al Baraka Bank Egypt won the award as the Best Islamic Bank in Egypt, Al Baraka Bank Lebanon won the award as the Best Islamic Bank…
Market Review KSE-100 index closed almost flattish during the week, reporting an increase of 343ptsWoW (0.8%) to 43,363pts. Activity during the outgoing week remained dull as evident from a ~8.7%WoW decline in ADTV, however, ADT witnessed an increase of ~15%WoW representing a shift towards small cap scrips. Foreign investors remained net seller, exhibiting a net outflow of USD0.3mn*. During the week, PAMA released data of auto industry for the month of Feb’18 which exhibited a 23%YoY growth to 170,354 units despite an increase in prices. Moreover, FFC, Hubco and China Machinery Engineering Corporation signed an agreement to set up a…
PSX springs back towards improvement as index gains 352 points Summary There was improvement in trading activity during the current week as compared to last week’s proceedings in Pakistan Stock Exchange. The KSE-100 Index moved up by 352 point to close at 43,363.21 points or 0.8%. The average volume increased to 175 million, market capitalization advanced to Rs9.065 trillion from Rs8.9 trillion. The market remained in green for three days during the week. Companies and Mutual Funds were net seller while Individuals turned out to be net seller in the market by $17.42 million as they were buyer of $2.81…
Dubai economy likely to grow at faster pace A strong uptick in the travel and tourism sector supported by projections of a hike in infrastructure investment and government spending bode well for Dubai, economists and analysts said. “Overall, we expect Dubai’s economy to grow at a slightly faster rate this year, underpinned by infrastructure investment and government spending,” Khatija Haque, head of Mena research at Emirates NBD, said. “The PMI survey data for February continued to show solid growth in Dubai’s economy, with the travel and tourism sector performing particularly well after a relatively soft fourth quarter in 2017,” Haque…
Air India twitter account hacked, later restored Air India’s twitter account was hacked last night by an unknown individual/group and tweet stating that all its flights have been cancelled was posted from it’s official twitter handle. It was amply evident though that the tweet was the job of a hacker as it went on to promote a foreign carrier. “The twitter handle has been restored. Air India has started investigation,” said an AI spokesperson. “This is to inform all passengers that the Air India official Twitter handle @airindiain was HACKED. All Air India passengers please note that no flights have…
Pakistan’s external debt to climb to $103bn by June 2019: IMF report The International Monetary Fund (IMF) has assessed Pakistan’s gross external financing needs at a record $27 billion for the next fiscal year, but warned that arranging the financing at favourable rates will now be a challenge due to risks to the country’s debt sustainability. In its post-programme monitoring report, the IMF also forecast that due to additional borrowings, Pakistan’s external debt would jump to $103.4 billion by June 2019, up from this June’s projected level of $93.3 billion. Despite changing goalposts twice, Pakistan’s public debt would remain higher…
PAKISTAN: 5 cool uses for your usb drive that donot involve data transfer: In the age of clouds and social networks, the humble USB drive is nowhere to be seen. A compact and handy tool, a USB drive – sometimes known as a pen drive, flash drive, memory stick, and thumb drive – proved to be handy and replaced regular CDs and DVDs due to its versatility and ease of use. [divider style=”normal” top=”20″ bottom=”20″] Telenor Pakistan launches connected agriculture platform for Punjab: Extending its expert support to the Government of Punjab in the latter’s‘ Empowerment of Kissan through Digital…
Standard Chartered celebrates International Women’s Day in collaboration with British Deputy High Commission Standard Chartered under its Diversity & Inclusion platform joined hands with British Deputy High Commission and celebrated International Women’s Day. The Bank along with British Deputy High Commission organised short master classes which were conducted by leading women and men who were specialists in their areas. These master classes were attended by 100 girls from O and A levels of leading schools in Karachi. The concept was to enlighten the girls and give them access to successful professionals who can talk about their leadership and professional development…
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 5.93 6.43 2 – Week 5.97 6.47 1 – Month 6.02 6.52 3 – Month 6.16 6.41 6 – Month 6.23 6.48 9 – Month 6.26 6.76 1 – Year 6.35 6.85 2 – Year 6.89 7.39 3- Year 7.31 7.81
[box type=”info” align=”” class=”” width=””]This article is published in collaboration with Quartz Dan Kopf Reporter, Quartz[/box] Take three people. All are unmarried, 33-year-old women who live in the United States. One makes an annual salary of $40,000, another makes $120,000, and the third makes $200,000. Who do you think is the happiest? According to a recently released study (paywall) in the burgeoning field of happiness research, the two higher-earning women are likely to report more satisfaction with their lives than the one who makes $40,000. But, perhaps surprisingly, the psychologists who conducted the study find that the one making $200,000 is probably no happier…
[box type=”info” align=”” class=”” width=””]Paul Laudicina Chairman, A.T. Kearney Global Business Policy Council[/box] Since becoming commercially available, the internet has democratized information, enabled global communication and served as a platform for a variety of goods and services. In its infancy, policy-makers trod lightly in terms of regulating online activity to allow innovation and commerce to flourish. The overwhelming success of Google, Facebook, Amazon and other internet giants evolved in that unregulated space. But as the internet enters its adolescence, boundaries are being pushed and questions asked about the wide berth historically afforded to such companies. Policy-makers around the world, particularly…
[box type=”info” align=”” class=”” width=””]Michael Johnson Former UK Government trade negotiator and adviser on International Trade Policy[/box] President Donald Trump has signed an order for special tariffs of 25% on imports into the United States of foreign steel, and 10% on aluminium. He openly says that this could lead to a trade war, which he could easily win. But what exactly is a trade war? There is no set definition. In the 17th century, England and Holland fought actual wars for domination of European and colonial trade. In the 1930s, responding to the world economic slump, major trading countries tried to protect industries…
[box type=”info” align=”” class=”” width=””]Ajay Patel, Manchester Metropolitan University[/box] Copycat products look very similar to the brand leader. In fact, their success relies wholly on our familiarity with the original. Copycats exploit the hard-won recognition of the brand leader, often built up over many years of investment in marketing and product development. In doing so, these products sometimes earn themselves the unflattering epithet “parasitic brands”. But they also provide great value: a very similar product, usually at a lower price. Certain retailers, for example Aldi, excel at the copycat method and these products now make up a significant portion of…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Mar 9, 2018[/box] International Women’s Day this year was marked numerous events such as protests in South Korea in support of the #MeToo movement and a feminist strike in Spain. The latter was supported by mayors in Madrid and Barcelona and saw women walking out to highlight sexual and domestic violence as well as a huge gulf in equality, particularly the wage gap. That’s still highly evident across the developed world. South Korea has the most work to do in order to close the wage gap. OECD data shows that in 2016, a male worker in South Korea…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Mar 8, 2018[/box] International Women’s Day is commemorated every year on March 8 to raise awareness for women’s rights, equality, safety and justice. Last year, the United Nations celebrated International Women’s Day under the official theme “Women in the Changing World of Work: Planet 50-50 by 2030”. While the tech industry tends to take pride in changing the world of work, and often, with a bit of hubris the world per se, the technology sector is actually further away from achieving gender equality than the U.S. economy as a whole. While the percentage of women…
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Mar 9, 2018[/box] Apple, Google, Microsoft, Amazon and Facebook. All count among some of the biggest companies in the world, and all can be described as tech companies. Combined, they turned over almost $650 billion last year, but although they are in the same broad industry, their main revenue sources are rather different. This infographic is based on data found in the Statista’s new Digital Economy Compass 2018 and shows where these tech giants get their money. One aspect of note is the company most reliant on one part of its business – Facebook generates 98…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Mar 7, 2018[/box] This year, International Women’s Day is set to prove even more poignant after a year full of passionate rallies and surging support for the #MeToo and #TimesUp movements. Organizers are hoping to embrace some of that progress and the 2018 theme is a push for global gender parity which is being called #PressforProgress. To mark the occasion, Ipsos MORI has released a study spanning 27 nations which highlights global concerns about equality. The research found that sexual harassment is seen as the biggest issue facing women across the world and it also found serious misperceptions…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Mar 9, 2018[/box] One of the many appeals of video streaming services is the fact that you can watch shows and movies pretty much wherever you go as long as you have an internet connection. Many people enjoy watching a sitcom on their evening commute, while others like to finish a long movie on their tablet in bed or watch a documentary to kill some time at the airport. Despite the possibility to watch pretty much anything wherever you want, the lion’s share of video streaming still happens on the big screen. That is…
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Mar 9, 2018[/box] So, you’ve got a million dollars burning a hole in your pocket and you’re looking to put a luxury roof over your head? This infographic, using data from Knight Frank, gives you an idea of where in the world you’ll get the most square meters for your lavish outlay. For those of us with enough funds to invest in luxury property, one of the first considerations will probably be where to buy. Location is everything, but as our infographic shows, it can have a huge effect on how much space you’re able…
Chief Minister Murad Ali Shah has directed the Karachi administration to start beautifying the city to develop a festive atmosphere for the upcoming Pakistan Super League (PSL) final on March 25. The CM issued the direction while presiding over a meeting on Friday to review arrangements for the PSL final. “This event will be followed by many other international events,” Shah remarked. The meeting was informed that eight parking areas were being developed for the event. The parking areas will be the National Coaching Centre for VVIP vehicles, Expo Centre for VIP vehicles, Gharib Nawaz Football Ground, Hakim Saeed Playground…
Wasim Akram, former Pakistan cricket great, who was leading wicket taker and was team captain now cricket commentator and currently the mentor of Multan Sultans — the new and 6th team in the on-going Pakistan Super League — has termed Pakistan Super League (PSL) one of the biggest cricket brands in the world. Speaking to the newsmen recently he praised the PSL management for organizing such a professional tournament. “I want to congratulate Najam Sethi, Chairman of Pakistan Cricket Board and the entire team and the new foreigner players are very impressed with how the tournament is organized.” Wasim Akram…
Market Review The week started off on a slightly positive note post peaceful culmination of senate elections. However, gains couldn’t sustain during the week amid lack of triggers whereby index closed at 43,011pts, down by 1.7%WoW. The activity during the outgoing week remained lackluster as evident from decline in ADT and ADTV by 16.1%WoW and 18.9%WoW, respectively. Foreign investors remained net seller, exhibiting a net outflow of USD3.9mn. During the week, APCMA released data of cement offtake for the month of Feb’18 where local cement dispatches grew 9.4%YoY accompanied by robust offtake in exports of 18.4%YoY. Moreover, ECC in its…
Bears dominate PSX, KSE-100 index decline by 1.7pc Summary It was a bearish week for the Pakistan Stock Exchange as the market remained red on four sessions out of five sessions of the week. The market came down by 729.22 points to close just above 43,000 level at 43,011.27 million. Volume declined by 16 % during the week to average of 153m while market capitalization eroded to Rs.8.989 trillion compared to Rs.9.1 trillion last Friday. Political noise with three references opening on ex PM, Nab inquires, questions over Senate election, negative trend in oil prices, IMF concerns over macroeconomic situation…
UAE women ‘press for progress Women today play various crucial roles across different sectors in the UAE, and their contributions have helped to inspire the next generation of leaders, experts have noted. “There is an increasing global role for women in terms of social, economic, legislative, and community change, and in order to maintain this progress, we must all inspire and nurture the girls of today to become the leading women of tomorrow,” Shaikha Abdulaziz Al Shamsi, manager of Sharjah Girl Guides, told on the occasion of International Women’s Day. Similarly, Sheikha Aisha Khalid Al Qassimi, director of Sajaya Young…
Sales domain has potential to create 2.5 million jobs in three years The sales domain has the potential to spearhead India’s transition from farm-to-non-farm, according to a TeamLease analysis. The study estimates that sales has the potential to create 2.5 million jobs in the next 3 years. It further adds that the domain has the ability to create more than 10 million jobs in a span of three years if certain regulatory reforms are undertaken. These reforms include consolidation of 44 central labour laws into 4 labour codes, Unique Enterprise Number, Employee Salary Choice, PPC Compliance Portal, The Factories Amendment…
Energy-deprived Pakistan remains on radar of LNG marketing companies Pakistan remains high on the radar of LNG marketing companies across the world as it has emerged as one of the largest importer, and is now expected to further strengthen its position with more terminals slated to come online at seaports shortly. “Pakistan is a very well developed gas market,” Shell Energy Executive Vice President Steve Hill said on ‘Shell LNG Outlook 2018’ in Singapore on Friday. “It (Pakistan) may emerge as the second or third largest importer of LNG this year or the next …it was the sixth largest importer…
PAKISTAN: Careem reduces prices for its bike and rickshaw rides: One of the most popular ride-hailing services in the region, Careem, has slashed its prices to make rides more affordable for everyone. The company has announced discounted fares for its riders of Careem BIKE and TEZZ. The per kilometer rate and per minute charge have been updated for bike and rickshaw rides. [divider style=”normal” top=”20″ bottom=”20″] Jazz XLR8 sends three startups to showcase their skills at ‘4 years from now’: In continuance with its digital agenda to empower youth through technology, Jazz has sent three of its startups from the…
TCS to bring the PSL Trophy to Pakistan The Pakistan Cricket Board (PCB) has entrusted TCS (Pvt) Ltd., Pakistan’s leading courier and logistics company to carry the prestigious PSL Trophy from the UAE to Pakistan. TCS will carry the PSL Trophy securely through its vast network and hand it over to PCB at a press conference in Karachi where the finalist captains will also be present. Expressing his views, Naiyar Saifi, Director Marketing & Public Affairs, TCS Holdings (Pvt.) Ltd. said, “This is an enormous task given by PCB to us but, as always, we will achieve our goal the…
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. [padding right=”15%” left=”15%”][/padding] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 5.94 6.44 2 – Week 5.97 6.47 1 – Month 6.01 6.51 3 – Month 6.16 6.41 6 – Month 6.22 6.47 9 – Month 6.26 6.76 1 – Year 6.34 6.84 2 – Year 6.91 7.41 3- Year 7.31 7.81
[box type=”info” align=”” class=”” width=””]Bettina Büchel, IMD Business School[/box] We are not only living in an age where women are being under-represented in many spheres of economic life, but technology could make this even worse. Women hold just 19% of board directorships in the US and Europe. This gender gap in the boardroom persists, despite the fact that, on average, women have obtained higher educational qualifications than their male counterparts for more than two decades in many OECD countries. And the main reason is social bias. This is on the verge of being further reinforced by artificial intelligence, as current…
[box type=”info” align=”” class=”” width=””]Scott Taylor, University of Birmingham[/box] We’re in the midst of a fourth wave of feminist activism and theory. Each successive wave has had a particular focus. The first, embodied in the Suffragette movement and suffragists, resulted in enfranchisement for women and, finally, a more complete form of democracy. The second wave, peaking in the 1960s and 1970s, is usually characterised as focusing on body and home – the contraceptive pill and the legal structure of marriage both featured strongly. The third wave of the 1980s is a little more mysterious. Most academic commentators suggest it had…
[box type=”info” align=”” class=”” width=””]Tolu Olarewaju, Staffordshire University[/box] There is something strange afoot in Nigeria, Africa’s largest economy. Animals have been making away with huge sums of money. No, this is not a euphemism. When a team of auditors recently tried to check the accounts of the Nigerian exam board for public universities, ₦36m (naira) (about US$100,000) could not be accounted for. A clerk reported that the money had been stolen from the vault by a “snake”, which swallowed it. Then, in February, a senator, defending a colleague accused of misappropriating funds, suggested that a missing ₦70m (about US$194,600) was…
[box type=”info” align=”” class=”” width=””]Jennifer Francis Research Professor, Rutgers University Jeremy Wilkinson Sea Ice Physicist, British Antarctic Survey Gail Whiteman Director, Pentland Centre for Sustainability in Business, Lancaster University[/box] Arctic scientists aren’t usually afraid of a little cold. Windy conditions don’t usually get us howling. The beasts we pay attention to are usually polar bears. But last week’s “Beast from the East” triggered a few anxious conversations. Social media memes aside, our problem isn’t this one extreme weather event per se. Our key fear is that the Beast isn’t really from the East – its birthplace was farther north. Compelling scientific evidence…
[box type=”info” align=”” class=”” width=””]Rob Smith Formative Content[/box] The production and sale of electric vehicles accelerated in 2016, with two million cars manufactured and over 750,000 sold globally, according to the International Energy Agency’s (IEA) 2017 Global Electric Vehicle report. And the market is expected to boom further in the coming years. The report predicts electric car stocks will range from between nine million and 20 million by 2020 and between 40 million and 70 million by 2025. Countries around the world are also attempting to ban the sale of petrol and diesel cars, and are encouraging motorists to go green. However, electric…
[box type=”info” align=”” class=”” width=””]Stéphanie Thomson Writer[/box] This article has been updated. They say history is written by the victors. Perhaps that’s why our history books tend to be dominated by men, with women relegated to bit parts. Of course, there are exceptions: women so powerful and influential that their legacies live on. Queen Elizabeth I, Boudica or Joan of Arc, for example. Women’s rights activist Emmeline Pankhurst is another notable exception. Pankhurst, alongside thousands of women who were part of the suffragette movement, campaigned throughout the late 19th and early 20th century to win the right for women in the United Kingdom…
BULLS TAKE HOLD AS KSE-100 INDEX POSTS RALLY FOR CONSECUTIVE FOUR SESSIONS Summary The positive development on the political front with selection of Shahbaz Sharif as PML-N’s interim president, country heading towards to meet the target of March 3 Senate elections, FATF fear set at rest for immediate future and possibility of improvement on the US-Pakistan relationship set up a congenial mind set for the investors, which pushed the KSE-100 Index by 1% percent. The market capitalization improved to Rs9.110 trillion. The average volume slightly decrease to 181 million shares. Stocks on Monday continued to fall as it shed 356.18…
UAE flights to UK disrupted due to adverse weather Emirates airline said its flights to and from Europe have been disrupted as heavy snowfall and freezing temperatures cause widespread travel disruption. In a statement, Emirates said that the operations of Emirates flights are affected due to adverse weather conditions across the UK. Passengers are advised to contact their travel agency or the local Emirates office – they are also advised to check the status of their flights for the latest information regarding their flights. “Customers booked to travel from the UK between February 28 and March 3, 2018 can opt…
ASCI upholds 31 complaints against misleading ads in Dec Advertising sector watchdog ASCI upheld complaints against 31 misleading advertisements in December 2017, including those of Blue Star, Huggies, Magicbricks, Aava Mineral Water, Apollo Paints among others. The Customer Complaints Council (CCC) of Advertising Standards Council of India (ASCI) received 81 complaints in the month. Amongst the 31 advertisements which it held misleading, 13 belonged to the healthcare category, seven to the education category, three to the food and beverages category and eight were from other categories, it said in a statement. From the total of 20 advertisements picked by ASCI’s…
ICCI seeks govt support for visits of trade teams to Africa Islamabad Chamber of Commerce and Industry (ICCI) President Sheikh Amir Waheed has said that the government should sponsor trade delegations to the African region in an effort to explore new avenues of commerce with the continent. Fifty-four African countries were a market of over 1 billion people with huge potential for Pakistan to promote trade and exports, said Waheed while addressing the “Look Africa” trade forum. The ICCI, in collaboration with the Trade Development Authority of Pakistan (TDAP) and Ministry of Commerce, organised the trade forum that was aimed…
PAKISTAN: 3g/4g users reach 49.46 million in Pakistan: The number of 3G and 4G users in Pakistan have reached 49.46 million by the end of January 2018, states Pakistan Telecommunication Authority (PTA). Number of mobile phone users in Pakistan reached 145.99 million by the end of January 2018, compared to 144.52 million by December 2017, which registered an increase of 1.47 million users during the period under review. [divider style=”normal” top=”20″ bottom=”20″] Thanks to Zong, network shutdowns are now illegal: Islamabad High Court decided in favor of a petition filed by Zong 4G by terming the forced network closures/shut downs…
Ahmed Shuja Kidwai named new CEO of Al Baraka Bank Ahmed Shuja Kidwai has been appointed as the new CEO of Al Baraka Bank (Pakistan) after the board of directors of Al Baraka Banking Group B.S.C (ABG) gave its go-ahead. Mr. Kidwai took the helm of affairs on March 1st, 2018 and replaces Shafqaat Ahmed as the new CEO of Al Baraka Bank in Pakistan. Chairman, Khalid Rashid Al Zayani, Al Baraka Islamic Bank-Bahrain felicitated Shafqaat Ahmed for his invaluable services and leadership during his presidency which lasted 25 years. According to Mr. Zayani, Mr. Ahmed was a true inspiration…
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 5.96 6.46 1 – Month 6.00 6.50 3 – Month 6.15 6.40 6 – Month 6.21 6.46 9 – Month 6.22 6.72 1 – Year 6.28 6.78 2 – Year 6.84 7.34 3- Year 7.24 7.74
[box type=”info” align=”” class=”” width=””]Alex Connock, University of Salford[/box] Tech disrupts most industries – just look at Spotify and music or Uber and taxis. But at least it has the good manners to smash them up one at a time. So even in this disruptive era, one innovation stands out because it risks damaging three 20th-century industries at once: retail, advertising and commercial TV advertising. The culprit? e-commerce video. A casual flick through Instagram will immediately highlight videos for cool fashion brands like Gym Shark (one of Britain’s fastest growing companies last year), or the e-commerce success story BooHoo. The…
[box type=”info” align=”” class=”” width=””]This article is published in collaboration with The Conversation Qamar Schuyler Research Scientist, Oceans and Atmospheres, CSIRO Britta Hardesty Senior Research Scientist, CSIRO Chris Wilcox Senior Research Scientist, CSIRO[/box] Plastic waste in the ocean is a global problem; some eight million metric tonnes of plastic ends up in the ocean every year. One possible solution – paying a small amount for returned drink containers – has been consistently opposed by the beverage industry for many years. But for the first time our research, published in Marine Policy, has found that container deposits reduce the amount of beverage containers on the coasts…
[box type=”info” align=”” class=”” width=””]Ryan Abbott, University of Surrey and Bret Bogenschneider, University of Surrey[/box] Automation promises to be one of the great social challenges of our generation. The fear that robots will steal our jobs is an old one. But it’s being felt all the more acutely thanks to the rise of new technology. What’s often overlooked is the role that tax policies play in this. Current policies in many countries, including the US and UK, encourage automation even when it would not otherwise be efficient. Plus, the switch to automation also dramatically reduces the government’s tax revenue because…
[box type=”info” align=”” class=”” width=””]Karen Jackson, University of Westminster and Oleksandr Shepotylo, University of Bradford[/box] Concerns are intensifying over the UK’s economic future, thanks to the lack of clarity over what kind of relationship it will have with the EU after Brexit. If the UK were to leave the single market and customs union, there are five obvious alternatives. We looked at each of these in a recent study and found the UK’s real GDP will drop by 2.63% if there is a shallow free trade agreement in place with the EU (akin to Canada’s). If the UK manages to…
[box type=”shadow” align=”” class=”” width=””]PROFILE – Zahid Mubarik SHRM-SCP, GPHR, SPHRI Zahid Mubarik is the CEO HR Metrics and founder President SHRM Forum Pakistan. He has the honor of being only HR leader from South Asia, who became member of ISO Geneva global HR Standards Development Committee of 11 countries including USA, UK, France, Germany, Sweden, Switzerland, Austria, Norway, Netherlands, Portugal and Pakistan. He led Pakistan in ISO global meetings in various parts of world including Washington, London, Melbourne, Rotterdam, Paris, Singapore and Bali. HR Metrics/Analytics is his area of expertise and currently he is global Convener of ISO “HR…
Market Review Amid Supreme Court’s decision of disqualifying former PM Nawaz Sharif as a head of ruling party and rumors of placing Pakistan in terrorism financing watch-list, stock market remained volatile throughout the week where it recorded a low of 42,384. However, the benchmark index has closed at 43,267 points, exhibiting a decrease of 0.8%WoW. The outgoing week witnessed a decline of 7.5% in ADT while ADTV increased by 10.4%. Foreign investors remained net seller, exhibiting a net outflow of USD2.7mn, in this week as well. In major news during the week, textile exports exhibited a 7%YoY growth in 7MFY18…
Political and FATF rumors to push more uncertainty keep stocks bearish Summary The investors sentiment and trading during the week were build on two important developments: FATF watch list and the judiciary decision and its subsequent impact. Member states of the Financial Action Task Force (FATF) have been meeting this week in Paris ,where it was expected that they would decide on a US motion – backed by Britain, France and Germany — to have Pakistan added to the so-called ‘grey list’ of countries not doing enough to comply with terrorist-funding regulations. All steps, decisions taken by ex-ousted prime minister…
Bahrain to start vat implementation by end-2018 Bahrain will go ahead with imposing a value-added tax to strengthen state finances, Minister of Finance Sheikh Ahmed bin Mohammed Al Khalifa said on Wednesday. “We’ll be working with parliament on VAT and aim to have everything set up by the end of 2018,” Sheikh Ahmed told an investment conference in Manama, without giving a firm date for when the tax would be launched. Bahrain, its sovereign debt rated “junk” by major credit rating agencies because of low oil prices, needs to diversify state revenues beyond oil. It originally planned to introduce VAT…
Sebi to auction 11 assets of pancard, reserve price Rs 260 cr Looking to recover over Rs 7,000 crore of investors’ money, markets regulator Sebi will next month auction 11 properties of Pancard Clubs and its late CMD at a total reserve price of Rs 260 crore. This is in addition to 22 properties that were auctioned between December and February with combined reserve price of Rs 552 crore. In a notice issued, the Securities and Exchange Board of India (Sebi) said SBI Capital Markets will auction 10 properties of Pancard Clubs and one property of its late CMD Sudhir…
Current account deficit widens 28.74pc to $1.61bn Pakistan’s current account deficit widened 28.74% on a month-on-month basis to $1.61 billion in January 2018 compared to $1.25 billion in December 2017; suggesting the recent corrective measures the government has put in place to curb the gap have largely gone in vain. The government of Prime Minister Shahid Khaqan Abbasi devalued the rupee by around 5% against the US dollar in December in a bid to boost exports. It also slapped additional regulatory duty on imports of over 350 items to slow down the ballooning imports. The larger objective of the measures…
PAKISTAN: Daraz brand fest with discounts up to 76% off launched: Daraz. In much the same way as every group of friends has that one friend who brings them together, Daraz brings brands across the retail spectrum together. The vital link in this chain, Daraz is assembling an A-team of the most impressive, varsity brands under one roof for the 10-day long Brand Fest from the 20th of February till 1st March. [divider style=”normal” top=”20″ bottom=”20″] Clickmail kicks off friday super sale with mega discounts on leading brands: Clickmall, a Pakistani ecommerce store, has announced its Friday Super Sale. Under…