[box type=”info” align=”” class=”” width=””]Andrew Crane, University of Bath and Genevieve LeBaron, University of Sheffield[/box] I can tell you the farm where the steak on your plate came from. Probably even the name of the cow. But we have no idea where the workers came from that work in our kitchens. That was the very frank admission from a senior executive of a major British hotel chain we spoke to as part of our research into modern slavery. Companies can increasingly trace where their products come from – but not the workers who produce them. According to the National Crime…
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[box type=”info” align=”” class=”” width=””]Yvonne Kelly Professor of Lifecourse Epidemiology, UCL[/box] What happens in the early years of a person’s life has a profound effect on how they fare later on. Thousands of research papers – many of them using the rich data in the British Birth Cohort studies – have shown that children who get a poor start in life are much more likely to experience difficulties as adults; whether that’s to do with poor health, or their ability to enjoy work and family life. Ensuring that children get enough sleep is one of a number of ways to get them…
The bilateral relations between the United Arab Emirates and Pakistan are acquiring new dimensions at all political, economic and social levels emerging into trust-worthy strategic partnership. Right from the beginning, the UAE has been famous among all comity of the world due to its generous humanitarian assistance, stability, tolerance, innovation, vision for better health and education. Now, it has become hub of investments, re-exports, technologies, tourism, and the last not the least, renewable energies. In Pakistan, it encourages investment and calls for greater trade and commerce activities. UAE is one of the largest investors in the country but bilateral trade…
Head Office: First Floor, 129 E-1, Tahawar Plaza, Gulberg III, Lahore, Pakistan UAN: 042-111-546-511, Toll Free: 0800-78610 Link International Exchange Company Private Limited (LIEC) is an A Category foreign exchange company, with a network of 40 operational branches nationwide and manpower consisting of 400 employees. LIEC is licensed by the State Bank of Pakistan and SECP, which allows it to provide the following products, with the highest possible quality of service. Western Union transfers (Sending & Receiving) Foreign Currency Exchange Telegraphic Transfers Demand Drafts Utility bill payments via Jazz Cash Link International Exchange Company plays a vital role in meeting…
Market Review Another bearish week was witnessed on the bourse as the benchmark KSE-100 index lost XX points to close at xx points. Signs of instability in local and international politics coupled with increasing concerns on Pakistan’s external account weakened the sentiments leading to a selling pressure. However, sudden and steep PKR depreciation against the greenback led market’s recovery on the last trading session, as dominant sectors are positively impacted by the development. Trading activity in the week picked up with ADT witnessing an increase of 8.7%WoW. Foreign investors remained net buyer during the week, exhibiting an inflow of USD…
KSE-100 index ends over 39,000 as Pak rupee adjustment news push investor sentiments Summary During the week, the market remained depressed for three days as it touched 38,000 level on Thursday to close at 38,784.66 points after losing 1,123 points. The next day on Friday the news of State Bank of Pakistan (SBP) would let the currency exchange rate to adjust to market conditions after meeting with IMF on Friday. This led the currency rate to touch Rs110 before settling down at around Rs107. The market gained 295.74 points to close at 39,080 on Friday. The other fundamentals, which build…
Market down as political chaos linger; FOMC, PAMA meeting and sukuk issue may favor The political turmoil plunged the benchmark Index of Pakistan Stock Exchange (PSX) by 930 points(down 2.33%WoW) closing at 39,080 points for the week ended 8th December 2017. OGRA’s adamant stance towards the implementation of proposed tariff regime for gas utilities dragged Sui twins down by 12.7/12.3%WoW respectively. While PSO and KAPCO slid 7.26/13.94% WoW respectively on the news that PSO suspended furnace oil imports further aggravated by the resumption of second LNG terminal (after a brief breakdown). PSMC rallied as the auto assembler announced the launch…
Sharjah hosts Pakistan property exhibition UAE-based Pakistanis can head to ‘Real Estate and Investment Pakistan Expo’ (RIPE), being held at the Sharjah Expo Centre over the weekend to scour through property bargains during the first edition of the two-day Pakistan Property Exhibition that will open and will conclude tomorrow. “Developers from the port city of Karachi and Province of Punjab will showcase and sell their projects at the exhibition. The exhibitors will also feature exclusive deals and bargains visitors. On sale are housing plots, villas, apartments, commercial offices and plots amongst other investment options,” said Adnan Iqbal, who has conceptualised…
Vowing zero tolerance for crime, up invites cos for investment New Delhi: The Uttar Pradesh government invited businesses to invest in the state assuring them of ‘zero tolerance’ with regard to law and order situation, besides better business climate and substantial policy framework. For boosting investments and development opportunities in the state, Yogi Adityanath government had in July approved Industrial Investment and Employment Policy, 2017. The new policy is aimed at facilitating ease of doing business besides employment generation, as also establishing a new ‘Make in UP’ department to derive the maximum benefits of the Make in India scheme. “Earlier,…
SBP’s reserves decrease 6.55%, stand at $12.7bn Foreign exchange reserves held by the State Bank of Pakistan (SBP) declined 6.55% on a weekly basis, according to data released by the central bank on Thursday. On November 30, foreign currency reserves held by the central bank were recorded at $12,660.5 million, down $886.8 million or 6.55% compared to $13,547.3 million in the previous week, according to the central bank. The decrease in reserves was attributed to external debt and other official payments, a development that raises concerns over looming obligations on an already burdened economy. Overall, liquid foreign reserves held by…
PAKISTAN Zong 4g’s unique business model: Customers before revenue!: Being at the forefront of Pakistan’s digital revolution, country’s largest data network, Zong 4G, has reaffirmed its previously stated position of putting the customers before all other business priorities. Powered by the fastest 4G network in the country, Zong continues to dominate the data market with more than 70% 4G market share. [divider style=”normal” top=”20″ bottom=”20″] Google launches datally, an app that saves your mobile data: Google has announced Datally, a smart and simple Android app that helps smartphone users understand, control, and save mobile data. Datally works on all smartphones…
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. [ads2] [padding right=”15%” left=”15%”][/padding] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 5.72 6.22 2 – Week 5.75 6.25 1 – Month 5.78 6.28 3 – Month 5.91 6.16 6 – Month 5.95 6.20 9 – Month 5.97 6.47 1 – Year 5.97 6.47 2 – Year 6.16 6.66 3- Year 6.42 6.92
[tooltip text=”PAGE REPORT” gravity=”nw”]‘LPG-Air Mix Plants Being Installed In Balochistan To Provide Gas To Far Flung Areas’[/tooltip] [dropcap]M[/dropcap]adni Siddiqui, Provincial Head, Balochistan Region, SSGC has said that the Company is following the Government of Pakistan’s directives of installing around 30 LPG-Air Mix plants in the far flung areas of Sindh and Balochistan. Mr. Siddiqui explained that for ensuring gas to those areas that are far off from SSGC’s distribution grid, already three LPG-Air Mix or Synthetic Natural Gas (SNG) plants are currently operational in Gwadar, Noshki and Surab in Balochistan and work on two more plants in Awaran and Bela…
[tooltip text=”By Shehryar Ahmad” gravity=”nw”]Byco: The Nation’s Largest Oil Refining Firm Is Also Pakistan’s Only Vertically Integrated Petroleum Firm[/tooltip] [dropcap]I[/dropcap]n a short span of just two decades, Byco Petroleum has become the largest oil refining firm of Pakistan. Earlier this month, Byco re-commissioned its second oil refining complex, ORC-2, which is the single largest refinery in the country, with a production capacity of 120,000 barrels per day (bpd). In addition to Byco’s original oil refining complex, ORC-1, which was commissioned in 2004 with a current refining capacity of 35,000 bpd, Byco’s oil refining capacity has now reached 155,000 bpd, which…
[tooltip text=”Karachi, November 27, 2017″ gravity=”nw”]Pak-Qatar Takaful Co-Hosts International Seminar On “Global Takaful Practices” At Iba-Ceif[/tooltip] [dropcap]P[/dropcap]ak-Qatar Takaful group in partnership with Institute of Business Administration’s Center of Excellence in Islamic Finance (IBA-CEIF) co-hosted a seminar on “Global Takaful Practices”. The key speakers at the seminar at IBA-CEIF are renowned internationally acclaimed Islamic Finance Scholars that include Dr. Sheikh Suleiman bin Mohammed Al Jewisser from Saudi Arabia and Mufti Muhammad Hassaan Kaleem from Pakistan. Pak-Qatar Takaful is the pioneer and largest Takaful group in Pakistan (comprised of Pak-Qatar Family Takaful and Pak-Qatar General Takaful companies). Pak-Qatar Takaful recently invited Dr.…
KSE-100 INDEX TAKES RESPITE OF 337 POINTS; FOREIGNERS REMAINED SELLER SUMMARY The market remained closed on Friday due to Eid Milad-un-Nabi holiday, as market operated for four days during the week. The last day Thursday with a rally of 337 points brought KSE-100 Index above to 39,000 points to close at 40,010.36. During the week share volume improved to 129.911 million shares and market capitalization climbed by Rs19 billion to stand at Rs8.375 trillion while the foreigners were seller by $39.46m during the week. The fundamentals during the week which build up the investment tempo for the investors and affected…
ETISALAT, DU TO CHARGE VAT ON PRODUCTS AND SERVICES The UAE’s telecom service providers, etisalat and du, will charge five per cent value added tax on the services and products they offer to the consumers in the country. “Starting from the 1st of January 2018, most of etisalat’s products and services shall be subject to a five per cent value added tax in compliance with federal laws and regulations levying and regulating the tax in the UAE,” it said in a statement. Du also said on its website that it would apply the standard VAT rate of five per cent…
HEALTHCARE’S DILEMMA: BALANCING PUBLIC NEEDS WITH BUSINESS SENSE Even 1,500 gloves, 616 syringes, 11 bottles of human albumin and a bill of nearly Rs 16 lakh for a fortnight in the paediatric ICU at Fortis Gurugram could not save seven-year-old Adya Singh from dengue shock syndrome in mid- September. “When Adya was here, kids would be playing till late. Now, it’s like the life of our society has been taken away with her,” said her mother, Deepti, trembling as she held back tears. The white lights and cameras that television news channels had been glaring at her at the open-air…
AJK PM ASSURES OF EQUIVALENT DISTRIBUTION OF FUNDS Azad Jammu and Kashmir (AJK) Prime Minister Farooq Haider said Friday that his government would form new constituencies on the basis of demographic situation Addressing a public gathering in Rawalakot, he said that government will not negotiate on equal distribution of development funds in all constituencies. “People of Poonch made great sacrifices for liberation and resultantly, we are breathing in an independent territory,” Haider said. Former minister Sardar Tahir Anwar presided the occasion, meanwhile Ministers of State Muhammad Aziz, Dr Najeeb Naqi and other PML-N leaders addressed the gathering. Extoling the sacrifices…
EUROPE BILLIONAIRES IN SHIPPING SPENDING SPREE A shopping spree by two European billionaires is shaking up a shipping industry still recovering from years of falling rates and overcapacity. Jacques Saade’s CMA CGM SA, the world’s third-largest container line, announced an order for nine massive vessels in September, after a year of tepid sales for new ships. Within days, Gianluigi Aponte’s Mediterranean Shipping Co., the No. 2 container line, confirmed it had lobbed in an order for 11 behemoths, each of which can hold 22,000 shipping containers, enough capacity for 44,000 cars or 8.8 million 50-inch TVs. The orders amounted to…
PAKISTAN GOOGLE OFFICIALLY ANNOUNCES DATALLY APPLICATION IN KARACHI: Google has announced a new application in its bid to give better internet experience to its users in developing countries like Pakistan. Datally is a data saving application which will help users take control of how they consume data in daily life and block culprit applications that continue to run in the background and eats up the data bundle. In the developing countries like Pakistan and India, data bundles are fairly expensive and in order to not eat up data plan in a single go, users have to go through the hassle…
OIL SLIPS ON OPEC DEAL UNCERTAINTY, RISING US FUEL INVENTORIES Oil prices slipped to session lows on Wednesday in a volatile session buffeted by conflicting statements from oil ministers a day ahead of OPEC’s meeting in Vienna, as members debate the path for an extension of the group’s supply-cut agreement. The market was less affected by a larger-than-expected 3.4 million-barrel drawdown in US crude inventories, although gasoline and distillate stocks rising more than anticipated weighed. “The rise in refined product inventories more than offsets the crude oil inventory drop, and there was a notable, if not spectacular, drop in implied…
UBERAUTO NOW AVAILABLE IN FAISALABAD Uber Pakistan has announced the commencement of its UberAUTO operations across Faisalabad. uberAUTO is Uber’s affordable and reliable rickshaw service, which is already operational in Karachi and Lahore. At the tap of a button, Uber will connect riders with the closest available uberAUTO rickshaw driver, who shall pick the rider up at the earliest. Riders will be able to see a photo of the driver, the license plate, and will be able follow them on the app as they make their way to the requested destination. UberAUTO also allows the ’Share Status’ feature, where riders…
[dropcap]K[/dropcap]ibor 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. [ads2] [padding right=”15%” left=”15%”][/padding] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 5.71 6.21 2 – Week 5.75 6.25 1 – Month 5.76 6.25 3 – Month 5.91 6.16 6 – Month 5.94 6.19 9 – Month 5.96 6.46 1 – Year 5.98 6.48 2 – Year 6.16 6.66 3- Year 6.42 6.92
[box type=”info” align=”” class=”” width=””] Sue Kegerreis, University of Essex[/box] [dropcap]M[/dropcap]ore people than ever now work from home for part or all of the week. Such flexibility can seem a good idea, but many people find it difficult to manage their time. Working from home in isolation can also prevent people from engaging in the daily interpersonal relationships that working life can offer – and which can help creativity and improve our mental wellbeing. Time is our most precious commodity and a currency to spend. As my own research on lateness has highlighted, time management involves managing complex relationships and conflicts within ourselves –…
[box type=”info” align=”” class=”” width=””] Iwa Salami, University of East London[/box] [dropcap]T[/dropcap]he news that bitcoin had broken the $10,000 barrier reflects the way that mainstream investors have been flocking to cryptocurrencies over the past year. But amid the excitement, regulators are fretting about criminals who are increasingly using cryptocurrencies to escape detection from law enforcement. Why is digital currency so appealing to miscreants? Cryptocurrencies are a recent phenomenon and – as with all new technology – it takes time for regulators to catch up. Bitcoin was the first to gain an international reputation as a digital currency that could be used to settle…
[box type=”info” align=”” class=”” width=””] BY Philipp Ager, University of Southern Denmark and Casper Worm Hansen, University of Copenhagen[/box] [dropcap]T[/dropcap]he issue of immigration – and whether or not to restrict it – is hotly debated. Promising stricter immigration laws was an important pillar of Donald Trump’s 2016 presidential campaign – and it remains one of the Trump administration’s priorities to “protect” US workers and taxpayers. This idea reflects the argument that immigrants reduce job opportunities for US workers and cost taxpayers extra money to provide for housing and social assistance. But is this really the case? Understanding whether stricter immigration laws…
[box type=”info” align=”” class=”” width=””]This article is part of the World Economic Forum’s Geostrategy platform[/box] [dropcap]T[/dropcap]rade chokepoints – maritime, coastal and inland – pose an underexplored and growing risk to global food security, argues the report Chokepoints and Vulnerabilities in Global Food Trade. Maritime chokepoints will become increasingly integral to meeting global food supply as population growth, shifting dietary preferences, bioenergy expansion and slowing improvements in crop yields drive up demand for imported grain. Rising trade volumes, increasing dependence on imports among food-deficit countries, underinvestment, weak governance, climate change and emerging disruptive hazards together make chokepoint disruptions – both small-scale and large-scale…
[box type=”info” align=”” class=”” width=””]Briony Harris, Formative Content[/box] [dropcap]J[/dropcap]ack Ma is a global icon in business, ranked second on Fortune’s list of the World’s 50 Greatest Leaders and one of the richest men in China, with a personal fortune of nearly $30 billion, according to Forbes. He is the founder and leader of Alibaba, the Chinese online selling platform that had revenue of more than $8 billion for the third quarter of this year. The company is now within striking distance of overtaking Amazon as the world’s largest e-commerce firm by market capitalization. Ma is a philanthropist and a visionary, and this week he shared…
[box type=”info” align=”” class=”” width=””] Adam Jezard, Senior Writer at Formative Content.[/box] [dropcap]M[/dropcap]oney, opportunity, healthcare, kudos, colourful slides, comfy chairs, ping-pong tables… Tech companies are offering a variety of inducements in their efforts to recruit the best talent in a competitive global market suffering from a shortage of qualified,experienced staff. However, a recent study shows that executives hoping to land a perfect combination of attractive benefits are likely to find that no one package fits all. A survey of 2,349 tech professionals by recruitment website Hired, published in October, asked what applicants were looking for and which companies they wanted to…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Nov 24, 2017[/box] A new study has found that there is a huge gulf in broadband pricing around the world. The research was conducted by UK-based Cable.co.uk and it found that a monthly bill for broadband in Iran would come to an average of $5.37. Generally, surfing the net is extremely cheap across Eastern Europe with the monthly price averaging $5.51 in Ukraine, $9.93 in Russia and $13.47 in Romania. In Western Europe, prices rise considerably and in Germany for example, somebody would pay an average of $34.07 every month for broadband. In the United States,…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Nov 24, 2017[/box] [dropcap]H[/dropcap]ow much cash do you have in your wallet right now? Historically, it has been found that the amount of cash people carry is a key indicator of their use of cash. According to research from the European Central Bank, people in the eurozone carried an average of €65 in their wallets in 2016. On a country by country basis, Germans tended to carry the most cash on average, €103. People in Luxembourg had an average of €102 in their wallets while Austrians had €89. People in France and Portugal had the least on average…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Nov 27, 2017[/box] [dropcap]T[/dropcap]he post-Thanksgiving travel rush is still ongoing. After feasting on all that wonderful turkey, stuffing and sweet potato, many Americans who had to travel long distances for Thanksgiving have been thinking about their return trips with a sense of foreboding. Thanksgiving is always an extremely busy time at airports and on highways with the AAA predicted that some 50.9 million Americans will travel 50 miles or more away from home, marking a 3.3 percent increase on last year. Being stuck bumper-to-bumper on the interstate is infuriating but so too are the long…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Nov 22, 2017[/box] [dropcap]H[/dropcap]aving more than doubled its share price this year, Chinese tech giant Tencent became the first Chinese company to join the ranks of the five most valuable companies in the world when it surpassed Facebook in terms of market capitalization on Tuesday. The company behind the hugely popular mobile app WeChat also beat its rival Alibaba in the race to becoming the first Chinese company worth more than $500 billion. Now ranked fifth behind Apple, Alphabet, Microsoft and Amazon, Tencent comes off an impressive run that saw the company’s market capitalization increase nearly…
[box type=”shadow” align=”” class=”” width=””]PROFILE: Chairman: Saifigroup of Companies (U.A.E., Pakistan, Thailand & K.S.A.) Chairman: Standing Committee on Halal Food Import & Export – LCCI Chairman: Standing committee on “Halal Products & Services” FPCCI Chairman: All Pakistan Meat Exporters & Processors Association EX. Member: E.C. Member – LCCI Patron: The Lahore General Hospital – Lahore[/box] All Pakistan Meat Processors and Exporters Association (APMPEA) have urged the government to extend support package to its members to win a respectable place in US$ 2.3 trillion international Halal market. ‘We as a Muslim country can make our presence feel heavily in the international…
MARKET REVIEW The benchmark KSE100 index slid by 1.5%WoW to settle at 40,248level. The week started off on a bearish note amid ongoing sit-in by religious parties, dampening investor’s sentiment. Consequently, lack of triggers during the week kept investors at bay. Trading activity in the week picked up marginally with ADT witnessing an increase of 5.8%WoW. Foreign investors remained net seller during the week, exhibiting an outflow of USD6.3mn. During the week, LHC granted interim relief (SRO inapplicable) to importers that filed writ petitions against recently imposed regulatory duty on 731 items. Also, following government’s decision to shut down FO…
BEARISH TREND CONTINUES AS KSE-100 INDEX DROPS 1.5PC WOW SUMMARY The KSE-100 index during this week came down to 40,248.4 on Friday while it was 40,844.40 last week. There was a total loss of 596 points in KSE-100 Index. The average volume during the week was 112 million while market capitalization declined to Rs.73 billion to close on Friday at Rs.8,356 trillion. On average 343 companies traded in which 157 gained while 170 were in losses and 16 remained unchanged. During the week the fundamentals, which had impact on stock exchange included the continuing sit-in by religious parties in Islamabad;…
PAKISTAN SURF EXCEL #HAARKOHARAO CAMPAIGN HIGHLIGHTS CHILDREN’S WELFARE: On the Universal Children’s Day, Surf Excel, a household name in Pakistan, unveiled a campaign that aims to highlight how far children have come and how giving them the self-confidence and encouragement is necessary for both them and the parents. Surf Excel devised an all-ages activity between parents and their children as an interesting social experiment. KIA PICANTO HATCHBACK SPOTTED IN PAKISTAN: Pakistan might see another great addition to its fleet of cars as a Kia Picanto recently seen on motorway. Kia are yet to announce it officially in Pakistan, but once…
GOLD PRICES DIP, 22K PRICED AT DH146.75 IN DUBAI Gold prices nudged lower on Thursday, with investors taking profits after gains of nearly 1 percent in the previous session on weaker US economic data and concerns among some Federal Reserve policymakers over lower inflation. Dubai gold prices are Dh156.25 for 24-karat and 22-karat can be bought for Dh146.75. Many Fed policymakers expect that interest rates will have to be raised in the “near term”, the minutes of the US central bank’s last policy meeting showed on Wednesday. However, some members expressed concern over the inflation outlook and emphasized they would…
OIL PRICES DIP AFTER US CRUDE HITS NEAR 2-YEAR HIGH Oil prices eased on Thursday, with U.S. crude dipping away from two-year highs reached the day before, but the shutdown of the Keystone pipeline and a drawdown in fuel inventories continued to bolster markets despite worries over rising output. U.S. West Texas Intermediate (WTI) crude futures were at $57.89 a barrel at 0437 GMT, down 13 cents, or 0.2 percent, from their last settlement, but still close to 2015-highs of $58.15 a barrel reached on Wednesday. Brent crude futures, the international benchmark for oil prices, were at $63.17 per barrel,…
SHIP OPERATING COSTS STABILISE AS MARKET RECOVERY LIFTS PRESSURE The cost of operating cargo ships rose marginally in 2017 following two consecutive years of falls, but shipowners should prepare for higher costs led by a spike in insurance premiums, according to the latest Ship Operating Costs Annual Review and Forecast 2017/18 report published by global shipping consultancy Drewry. After two years of marked decline, average vessel operating costs stabilized in 2017 as pressure on owners was lifted by a nascent recovery across most cargo shipping markets. Trends in ship operating costs are heavily linked to developments in the wider shipping…
WORLD BANK REPORT HIGHLIGHTS DIFFICULTIES FOR PAKISTAN’S LABOUR FORCE Pakistan will need to tackle the triple challenge of creating enough jobs for its growing labour force, improving access to jobs and economic opportunities especially for women, and improving the quality and productivity of jobs to meet challenges, the World Bank said on Friday. Due to continuously high fertility rates, the country’s working-age population is expected to grow at 2.1% per annum for the next decade, the World Bank said in its report titled ‘Jobs and Entrepreneurship in Pakistan’. However, the report highlighted entrepreneurship as an important avenue in meeting the…
CASHEW RISES ON FRESH BUYING New Delhi, Nov 23 () Cashew prices rose by Rs 5 per kg at the wholesale dry fruit market in the national capital on increased buying support from retailers and stockists amid low stocks. Furthermore, fall in supplies from growing regions also supported the uptrend. Cashew kernel No 180, No 210, No 240 and No 320 rose by Rs 5 each to conclude at Rs 1,085-1,095, Rs 985-995 Rs 920-930 and Rs 820-830 per kg, respectively. Marketmen said increased buying by retailers and stockists against restricted supplies from growing regions, mainly pushed up cashew prices…
BMW GROUP SELLS MORE THAN 2 MILLION VEHICLES GLOBALLY For the first time ever at this point in the year, the BMW Group has delivered more than two million vehicles to customers around the world. A total of 2,008,849 vehicles have been sold in the first ten months of 2017, an increase of 3.4% on the same period last year. October sales of 197,601 (+0.8%) achieved the same high level as last year, despite the current changeover of the significant BMW X3 model, the new version of which is arriving in dealerships during November. “Our sales results for the first…
[dropcap]K[/dropcap]ibor 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. [ads2] [padding right=”15%” left=”15%”][/padding] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 5.71 6.21 2 – Week 5.75 6.25 1 – Month 5.78 6.28 3 – Month 5.91 6.16 6 – Month 5.94 6.19 9 – Month 5.97 6.47 1 – Year 5.97 6.47 2 – Year 6.16 6.66 3- Year 6.41 6.91
[box type=”info” align=”” class=”” width=””]Briony Harris, Formative Content[/box] [dropcap]A[/dropcap]sking staff about the qualities of a good leader is a surefire way to get them talking. Most would agree that having vision, people skills and integrity are important. And you would also expect intelligence to feature well up the list of desired attributes. But new research suggests that having a very high IQ is not necessarily such a good thing when it comes to leadership – the brightest people are actually less effective leaders, according to new research. The revelations come in a study by Switzerland’s University of Lausanne which is published in…
[box type=”info” align=”” class=”” width=””]Dave Mosher, Science and Technology Correspondent, Business Insider[/box] [dropcap]A[/dropcap]merica Recycles Day is on Wednesday, and the green holiday exists for good reason: Recycling helps keep rubbish off the roads, reduces the need for Earth-scarring metal-mining operations, and fuels industry jobs. The practice also keeps planet-warming carbon dioxide out of the air. Every ton of recycled aluminum cans (about 64,000 of them), in fact, keeps 10 tons of CO2 out of the atmosphere, according to Popular Mechanics. Recycling is no panacea, though. An ever better idea is to curb carbon emissions, though President Donald Trump has vowed to withdraw the US from…
[box type=”info” align=”” class=”” width=””] Dirk Baur, Professor of Finance, University of Western Australia Niels Van Quaquebeke, Professor of Leadership and Organizational Behavior, Kühne Logistics University[/box] A common idea about the blockchain, the technology that powers Bitcoin and other cryptocurrencies, is that it can “create trust”, or allow two parties to make a transaction “without relying on trust”. If true, this means we could create a world without a trusted “man in the middle”. We could have financial services without a bank verifying transactions and we could transfer ownership (of a house, for instance) without a lawyer. But this idea is wrong.…
[box type=”info” align=”” class=”” width=””]Jaime Malet, Chairman, American Chamber of Commerce in Spain[/box] [dropcap]T[/dropcap]he World Trade Organization predicts a slight recovery in international trade for 2017 and 2018, albeit with many uncertainties. Historically, the volume of world merchandise trade has tended to grow between 1.5 times to twice as fast as world GDP. But since 2012, trade has only been growing at a rate equal to or below that of GDP. In 2016, 20 of the world’s largest shipping companies sold $120 billion, compared to $200 billion in 2012. The downturn of the Chinese economy and other emerging economies, as…
[box type=”info” align=”” class=”” width=””] David Hesmondhalgh, University of Leeds[/box] [dropcap]A[/dropcap] major shift is taking place in global media. Until recently, tech corporations were mainly involved in distribution rather than production. But now, instead of simply delivering TV shows, music and films onto our devices and screens, major firms are sinking huge amounts of money into the content itself. The herald of this change was Netflix. Here was a tech company from the heart of Silicon Valley which in 2011 began to commission expensive middlebrow fare for its video streaming service. Amazon soon followed, and now Apple are poaching star TV executives, investing a billion…
[box type=”info” align=”” class=”” width=””] George Daskalakis, University of East Anglia[/box] [dropcap]I[/dropcap]magine sitting down to your business meeting in a ball-pool room with multi-coloured walls and bean bags instead of chairs. If that’s not crazy enough, how about a massive hammock to take a breather on during a hectic nine-hour shift? Many companies are coming up imaginative ways to keep their staff satisfied. The theory goes that with more entertaining and exciting work spaces, employees no longer feel like they are stuck at work. Instead, they adopt a “work hard, play hard” attitude and the company enjoys greater productivity. But…
[box type=”info” align=”” class=”” width=””] Shalini Vohra, Sheffield Hallam University[/box] [dropcap]B[/dropcap]lack Friday is upon us once again. Deals for cut-price clothes, televisions, appliances – you name it – are popping up. And for a limited time only. While stocks last, you could snag a bargain before Christmas. Traditionally in the UK, you had to wait until the day after Christmas for these kinds of offers. But the last few years have seen Black Friday imported from the US, where it comes the day after Thanksgiving. Crucially, it is the day that retailers are finally able to turn a profit for the…
PAKISTAN PAKISTANI RESEARCHERS DEVELOP CHEAP NANO PARTICLES THAT CAN HEAL BURNT SKIN: Scientists from COMSATS Institute of Information Technology (CIIT) have developed a nano particle that regenerates burnt skin. This groundbreaking development was achieved at Interdisciplinary Research Centre in Biomedical Materials (IRCBM) established at CIIT. NAYATEL INTRODUCES 30MBPS UNLIMITED INTERNET BUNDLE FOR VIDEO STREAMING: Nayatel internet just got a lot more fascinating with this newest offering that allows its customers to stream unlimited Netflix, YouTube videos and more with whooping 30Mbps speeds for just Rs. 399 per month. JAZZ SERVICES WILL SOON BE AVAILABLE AT CSD SUPER MALLS: Jazz has…
DUBAI AIRSHOW: $114B ORDERS FLY IN FIVE DAYS The region’s largest aviation showcase, Dubai Airshow 2017, ended an action-filled five-day run by recording total aircraft deals and orders close to $114 billion, besides several billions in defence deals. The bustling exhibition venue at the Dubai World Central, where the latest aircraft designs, innovative technologies and solutions in aviation were on active display, saw the world’s two leading aircraft makers, Boeing and Airbus vying for orders in a neck and neck battle. While Airbus widened its lead over its rival on the final day by selling two A330neos to Air Sénégal,…
GOLD, SILVER MARGINALLY DOWN Gold and silver were trading marginally lower in deals on Thursday on account of subdued demand of precious metals from jewellers, industries and retailers. MCX Gold futures were down 0.10 per cent, or Rs 30, at Rs 29,495 per 10 gram, while MCX Silver futures were down 0.13 per cent, or Rs 52, at Rs 39,659 per 1 kg at around the same time. However, it is said, Bullion counter may trade with volatile path as the US industrial production along with movement of greenback to give further direction to the prices. [divider style=”normal” top=”20″ bottom=”20″]…
TANKER SHIPPING OVERSUPPLY TO KEEP RATES LOW IN 2018: FITCH A glut of new vessel deliveries and limited scrapping of older ships means the global tanker market will remain oversupplied in the near term, Fitch Ratings says. This will keep freight rates low and shipping company credit metrics under pressure in 2018. We expect capacity to have increased by 5%-6% by end-2017 from a year earlier. We forecast capacity to rise a further 4% in 2018. This reflects orders placed in 2015 when tanker rates were high, with a large share of orders coming from Greece and China. Vessel scrapping…
GOVT MAY SACK HEADS OF POORLY PERFORMING POWER COMPANIES The government may sack heads of three power distribution companies for consumer overbilling and failing to bring improvement and efficiency in the system. Federal Minister for Power Division Sardar Awais Ahmad Khan Leghari directed on Thursday to issue final warnings and final notices to chief executive officers of Sukkur Electric Power Company (Sepco), Hyderabad Electric Supply Company (Hesco) and Quetta Electric Supply Company (Qesco). He also gave directives for issuing final warning and show cause notice to Peshawar Electric Supply Company Chief Executive Officer Shabbir Ahmed for failing to comply with…
LEXUS MAY PRICE NEW COMPACT SUV HYBRID NX 300H AT RS 60 L Mumbai, Nov 17 () Japanese auto major Toyota’s luxury arm Lexus unveiled a compact hybrid SUV, the NX 300h, which is a premium urban sports car and is expected to begin delivery from February. The NX is the fourth offering from Lexus since its entry into the domestic market this March and is pitted against the likes of the locally-assembled GLA Class from Mercedes, the Audi A6 and most models of the Tatas-run JLR. Though Lexus did not disclose the final price of the NX, which will…
TRIBUTE TO ALLAMA IQBAL BY PAKISTAN HIGH COMMISSION , SINGAPORE Prof. Salahuddin Mohammad Shamsuddin, eminent scholar, delivered a lecture on Allama Iqbal at the residence of the Mr. Nasrullah Khan, Pakistan’s High Commissioner to Singapore on the evening of 11.11.2017. The talk was organised by Pakistan High Commission to pay tribute to Allama Iqbal, the sub-continent’s great poet-philosopher on occasion of his 140th death anniversary. Dr. Salah ud din Mohammad Shamsuddin flew in especially from Brunei Dar us Salam for this session devoted to Iqbal’s legendary poetic and philosophic work. The discourse mostly centred around Iqbal’s concept of Khudi. Mr.…
[dropcap]I[/dropcap]t is one of the best known lagging indicators. The consumer price index expresses the current prices of a basket of goods and services in terms of the prices during the same period in a previous year, to show effect of inflation on purchasing power. [ads2] [padding right=”15%” left=”15%”][/padding] INFLATION RATES MONTH ON MONTH BASIS (%) (BASE 2007 – 2008) Period CPI CORE INFLATION SPI** WPI General Food Non-food NFNE* Trimmed Sep-16 0.2 0.1 0.2 0.3 0.1 0.1 -0.5 Oct-16 0.8 0.8 0.8 0.9 0.6 0.7 0.0 Nov-16 0.2 0.2 0.2 0.2 0.2 0.3 -0.2 Dec-16 -0.7 -1.9 0.2 0.1…
[dropcap]T[/dropcap]he balance of trade compares the value of a country’s exports of goods and services against its imports. When exports are greater than imports, that’s a trade surplus. Most nations view that as a favorable trade balance. A country that imports more goods and services than it exports has a trade deficit. [ads2] [padding right=”15%” left=”15%”][/padding] BALANCE OF TRADE (Million US $) PERIOD EXPORTS (VALUE) IMPORTS (VALUE) BALANCE OF TRADE Nov-16 R 1,860 3,954 -2,094 Dec-16 R 1,891 4,241 -2,350 Jan-17 R 1,811 4,328 -2,517 Feb-17 R 1,791 4,102 -2,311 Mar-17 R 2,075 4,303 -2,228 Apr-17 R 1,784 4,100 -2,316 May-17 R…
[dropcap]K[/dropcap]ibor 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. [ads2] [padding right=”15%” left=”15%”][/padding] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 5.70 6.20 2 – Week 5.74 6.24 1 – Month 5.76 6.26 3 – Month 5.90 6.15 6 – Month 5.94 6.19 9 – Month 5.96 6.46 1 – Year 5.97 6.47 2 – Year 6.16 6.66 3- Year 6.39 6.89
[dropcap]D[/dropcap]emographic is the study of a population based on factors such as age, race and sex, among others. Governments, corporations and non-government organizations use demographics to learn more about a population’s characteristics for many purposes, including policy development and economic market research. [ads2] [padding right=”15%” left=”15%”][/padding] DEMOGRAPHIC INDICATORS OF PAKISTAN Details 2017 Total Population (Million) 199.1 Urban Population (Million) 80.72 Rural Population (Million) 118.38 Total Fertility Rate (TFR) 3.0 Crude Birth Rate (Per thousand) 25.2 Crude Death Rate (Per thousand) 6.60 Population Growth Rate (Percent) 1.86 Life Expectancy (Year) – Female 68.2 – Male 65.8
[dropcap]I[/dropcap]nflation is a sustained increase in the general level of prices of goods and services in an economy. When the price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money. [ads2] [padding right=”15%” left=”15%”][/padding] INFLATION IN PAKISTAN (Base 2007-08) INDEX AVERAGE JULY – OCT % CHANGES 2017-18 2016-17 2015-16 CPI 3.50 3.95 1.65 SPI 0.89 1.74 -0.84 WPI 1.39 3.17 -2.99
[box type=”info” align=”” class=”” width=””]John McKenna, Formative Content[/box] [dropcap]T[/dropcap]he most imported goods around the world are petroleum and cars, according to this map of every country’s biggest import. Covering the imports of 187 of the world’s 195 nations, the map reveals that the biggest import for more than half of these countries is fuel. For those countries with their own domestic oil and gas resources, transport still drives their import needs: from the US, to Russia, to Saudi Arabia, their most imported products are cars. According to the data from the Observatory of Economic Complexity, organized into a map by vouchercloud, transportation is the…
[box type=”info” align=”” class=”” width=””]Adam Jezard, Senior Writer at Formative Content.[/box] [dropcap]T[/dropcap]ell me and I’ll forget; show me and I may remember; involve me and I’ll understand.” The message of this Chinese proverb is that if you engage with a subject, you will understand it better. But a report from UNESCO suggests few of us are engaged enough with our education systems to understand what is happening in them. Although largely aimed at providing guidance for governments about how to meet Sustainable Development Goal 4 (achieving inclusive and equitable quality education for all by 2030), the 2017/18 Global Education Monitoring (GEM) Report has…
[box type=”info” align=”” class=”” width=””]Richard Edelman (President, Edelman)[/box] [dropcap]W[/dropcap]e are just out of the field on a flash poll in the U.S. taken last week, with 1,000 members of the general population and an oversample of 113 Silicon Valley-based tech employees on the impact of fake news on trust in mainstream media. The sad conclusion that has been drawn by a majority of Americans is that fake news is created by the media with a motive, destruction of political opponents. The logical end point is establishment of echo chambers, in which one reads only that which one agrees with. It is the…
[dropcap]A[/dropcap]n interest rate is the cost of borrowing money, or conversely, the income earned from lending money. Interest rates are expressed as percentage of the principal per period. “Reduced interest rates encourage people to spend money on home improvements” [ads1] [padding right=”15%” left=”15%”][/padding] INTEREST RATES DATE (%) 26-Jan-15 8.5 24-Mar-15 8.0 25-May-15 6.5 14-Sep-15 6 23-May-16 till date 5.75
[box type=”info” align=”” class=”” width=””] Harald Wieser, University of Manchester[/box] [dropcap]A[/dropcap]pple’s special edition iPhone X release – like the new iPhones before it – brings thousands of people lining up in front of Apple stores around the globe. It raises the seemingly obvious question: what sane person would queue overnight for an over-priced, at best incrementally-changed gadget? But what sounds like a question for psychologists, may actually be better addressed as a matter of the way media and markets work. You’d be forgiven for expecting this article to be a rant about the blatant consumerism of the people that stand in line –…
[box type=”info” align=”” class=”” width=””] John Colley, University of Warwick[/box] [dropcap]T[/dropcap]he recent collapse of Monarch Airlines and the potential surrender of care home group Four Seasons to creditors may well be a sign of the times for the private equity industry. The sector is known for turning round companies, slashing costs, increasing cash flow and using debt to reduce tax and mitigate risk, but the model is now looking fragile. Private equity (PE) was in its pomp in the 1980s, and in 1990, Richard Gere provided a useful cultural reference point with his portrayal of a (temporarily) ruthless private equity partner in the blockbuster film…
[box type=”info” align=”” class=”” width=””] David Hesmondhalgh, University of Leeds[/box] [dropcap]A[/dropcap] major shift is taking place in global media. Until recently, tech corporations were mainly involved in distribution rather than production. But now, instead of simply delivering TV shows, music and films onto our devices and screens, major firms are sinking huge amounts of money into the content itself. The herald of this change was Netflix. Here was a tech company from the heart of Silicon Valley which in 2011 began to commission expensive middlebrow fare for its video streaming service. Amazon soon followed, and now Apple are poaching star TV executives, investing a billion…
[box type=”info” align=”” class=”” width=””]Cathrine Jansson-Boyd, Anglia Ruskin University[/box] [dropcap]I[/dropcap]n the business of shops and selling, times are tough. Retail sales indicate that shops are are struggling to persuade customers to part with their cash. But there are some innovative methods which retailers are using to address the challenge of enticing and engaging consumers. And it’s not just about slashing prices and Black Fridays. Many well-known businesses make use of psychology to connect with customers and increase sales. Here are some of the tricks they have up their shop sleeves. Sniffing out a sale A nice smell can make retail experiences more…
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Nov 10, 2017[/box] This infographic was originally made in Polish as part of our International Series. You can find it here. Colorful shopping windows of Polish stores do not surprise anyone in Great Britain, Ireland or the Netherlands. After 2004 – when Poland joined the European Union – Polish stores started to pop-up on commercial streets of cities and smaller towns of Western Europe. According to estimates of Główny Urząd Statystyczny in Poland, in 2005, 1.5 million Poles lived outside of the country’s borders. In September 2016 this number was estimated to be 2.52 million people.…
[box type=”info” align=”” class=”” width=””]by Felix Richter, Nov 9, 2017[/box] [dropcap]J[/dropcap]ust weeks after its successful IPO on September 28, Roku, maker of the namesake TV streaming devices, nailed its first earnings report as a public company on Wednesday. Having beaten Wall Street estimates on revenue growth and provided a positive outlook for the fourth quarter, Roku’s shares were up by as much as 44 percent in early trading the morning after. At more than $27 a share, Roku is now valued nearly twice as high as it was in its IPO six weeks ago. The company’s streaming devices have been used to stream a…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Nov 10, 2017[/box] The situation in Yemen is deteriorating with UN officials warning the country is now facing the world’s biggest famine in decades. They have said that unless the Saudi-led coalition lifts its blockade and allows the flow of international aid to resume, millions of people will be affected. The blockade was imposed after Houthi rebels fired a missile at Riyadh, though it was intercepted and destroyed before it struck the Saudi capital. Alongside the threat of mass-famine, Yemen is also contending with the fastest growing cholera epidemic ever recorded. In mid-July, there were…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Nov 9, 2017[/box] [dropcap]T[/dropcap]o the surprise of many, Saudi Arabia recently announced it would end its longstanding ban on women driving with the change set to come into effect from June 2018. That ban has served as a major symbol of female oppression throughout the world and it has also done huge damage to the kingdom’s reputation for years. The situation could improve even further in the years ahead with Crown Prince Mohammed bin Salman pushing to implement more reforms in order to return the country to moderate Islam. Saudi Arabia isn’t alone in how…
[box type=”info” align=”” class=”” width=””]by Dyfed Loesche, Nov 10, 2017[/box] [dropcap]U.S.[/dropcap] President Donald Trump has just completed his first state visit to China, where he got together with Chinese President Xi Jinping. Before Trump became President, he blamed China in very stark words for taking advantage of the United States. However, on his visit to China he toned down the rhetoric, saying he didn’t blame the country for “taking advantage of another country for the benefit of its citizens”. He also said, him and President Xi had “great chemistry”. Though, at first sight, Trump seems to be turning on his…
[box type=”info” align=”” class=”” width=””] Mr. Sohel N. Kidwai Chief Executive Officer[/box] HISTORY OF THE PROJECT [dropcap]S[/dropcap]haheen Insurance Company Limited was established under the Companies Ordinance, 1984, as a Public Limited Company in March 1995 and obtained the certificate of commencement of business in July 1995. It was registered with the Controller of Insurance in November in the same year to carry out non-life insurance business comprising fire, marine, motor, aviation, engineering, transportation, etc. The Company is listed on Pakistan Stock Exchange. PRESENT STATE OF THE PROJECT Shaheen Insurance Company is a nationwide General Insurance Company currently providing Insurance services to…
[dropcap]B[/dropcap]usiness Leadership refers to CEO & C level management of a Business Corporate, since the performance of the entire organization is based on its leadership style defining its enduring characteristics towards vision, mission, core ideologies and goals; simultaneously turning great strategies into great performances. CEO & top leadership carries many responsibilities, above all being emblem of inspiring growth in the company ensuring that there is no gap existed in articulating rather translating their vision-mission to their company and continuously ready to create more leaders under their coaching. They are the one who should be aware about change, speed and competiveness…
‘Photography is the calling of my soul… They are just not pictures…They are words that define me…tell me who I am!’ These words that were spoken by Muhammad Humayun Babar kept on echoing in my mind. As I browsed around his pictures, I felt a strange sense of longing in them, each picture had a story to tell, a story devoid of words, a story that wanted to be heard. Before I get lost in the mysterious world of these pictures, let me introduce you to Mr. Humayun Babar, an upcoming nature photographer of our times. He is a banker…
UBG is helping govt and business community activities to become stronger and to strengthen FPCCI Interview with Mr S. M. Muneer — leader of the business community of Pakistan [box type=”shadow” align=”” class=”” width=””]PROFILE: S. M. Muneer is the Chairman of Din Group of Industries and former CEO Trade Development Authority of Pakistan (TDAP). His company Din Leather (Pvt.) Ltd, is the biggest exporter of leather in Pakistan and he has four textile mills in the name of Din Textile Mills in Lahore. POSITION IN COMPANIES CHAIRMAN: 1) M/s. Din Leather (Pvt) Ltd. The leading exporting company of Finished Leather…
[box type=”shadow” align=”” class=”” width=””]Mr Reto Stocker is Swiss national and holds PhD degree in “Global Climate Change” from the University of Basel. He has been working for ICRC over the last 20 years in the positions mentioned below: ICRC EXPERIENCE 30.09.2013 – to date – Head of Delegation in Islamabad, Pakistan 11.12.2005 – 11.10.2012 – Head of Delegation in Kabul, Afghanistan 09.10.2005 – 10.12.2005 – Deputy Head of Delegation in Islamabad, Pakistan 14.09.2003 – 04.09.2005 – Head of Delegation in Monrovia, Liberia 17.03.2002 – 13.09.2003 – Deputy Head of Mission in Bukavu, Congo 01.08.2001 – 16.03.2002 – Deputy Head…
MARKET REVIEW Stock market remained volatile throughout the week, however the benchmark KSE100 index almost remained flattish, a decrease of 41pts WoW to 41,064pts. Political uncertainty coupled with deteriorating economic indicators has hampered the market participation as evident from a decrease in ADT by 12.7%WoW. Foreign investors remained net seller in the week, exhibiting an outflow of USD30.7mn. During the week, Dawood Hercules finalized to offload its ownership of 15% in HUBCO to KAPCO at a price of PKR109.86/sh. With regard to Lucky Cement, the company in its latest notification announced to increase investment in KIA Motors to 70% from…
RECOVERY WITNESSED ON MUTUAL FUNDS BUYING AS KSE-100 INDEX GAINS 372 POINTS SUMMARY SECP notification of relaxation the minimum 5 percent cash restriction for Asset Management Companies took positively by investors as Mutual Funds total buying during the week climbed to $17.32m. The KSE-100 Index remained positive for three days while it profit-taking recorded on the remaining two days. The Index over all gained 372 points to close on Friday at 41,435.70. The volume declined to average 114m and market capitalization increased to Rs.8.493 trillion. The news which made impact on the PSX were: In Saudi Arabia the leadership attempted…
PAKISTAN WITHHOLDING TAX EXEMPTION ON RS.100 CARDS PROPOSED: The Senate Standing Committee on Information Technology and Telecommunications Monday recommended for not deducting Withholding Tax (WHT) on mobile cards of Rs 100, as it is mostly consumed by people who are not liable for taxes. LIFE IN FRAMES: LEARN VIDEO MAKING & EARN CHANCE TO WIN A LUMIX G5 CAMERA: Are you fascinated with making videos? Capturing stories with the help of your video camera, editing and cutting it before its exactly how you want it. But what if you wanted your video-making skills to rival those made by professional videographers?…
70% RESIDENTS NOT AWARE OF ‘FINANCIAL GOALS’ Around 70 per cent of the UAE residents are not sure what steps to take to achieve their financial goals, says a new survey released on Monday. The Financial Planning Survey, conducted by investment firm National Bonds, said nearly half – 53 per cent – were most interested in receiving advice relating to retirement planning. This was the case across the 4 audience segments surveyed including Arab (53 per cent), Asian (57 per cent) and Western (64 per cent) expats. UAE Nationals, however, were more concerned with advice pertaining to financial health (48…
MINISTER EXPECTS EXPORTS TO DOUBLE BY NEXT YEAR Minister for National Health Services, Regulations and Coordination Saira Afzal Tarar informed the Senate on Monday of a substantial increase in pharmaceutical exports from the country, expecting them to double by the end of next year. Winding up discussion on a deferred motion about Drug Regulatory Authority of Pakistan (DRAP), the minister also expressed hope that the body would be able to meet international standards in terms of performance within the next five years. The minister said that a quality assurance directorate has been set up in DRAP to regulate quality of…
JAITLEY’S 10% TAX ON INCOME FROM CARBON CREDITS A MIXED BAG MUMBAI/CHENNAI: The Finance Bill proposes to levy a tax of 10% on income earned on transfer of carbon credits. Such a tax will be levied on the gross income, without allowing for any deductions. According to the explanatory memorandum to the Finance Bill, the income tax (IT) department has been treating the income earned on transfer of carbon credits as business income subject to tax at the rate of 30%. In this context, it seems like a favourable position on the face of it, but it is a mixed…
NATIONAL HIGHWAY COUNCIL MEETS BUDGET ESTIMATES DEVELOPMENT PLAN APPROVED The Federal Minister for Communications Hafiz Abdul Karim last week presided over the meeting of National Highway Council (NHC) at the Ministry of Communications. Federal Minister of State for Communications Muhammad Junaid Chaudhry, Secretary Communications, Chairman National Highway Authority and other members of the council participated in the meeting. The meeting gave approval for budget estimates for 2017-18 and the Five Year Development plan (2018-23). The meeting was informed that under the Public Sector Development Program (PSDP) around Rs. 320 bn were allocated for the year 2017-18. The total number of…
[dropcap]I[/dropcap]t is one of the best known lagging indicators. The consumer price index expresses the current prices of a basket of goods and services in terms of the prices during the same period in a previous year, to show effect of inflation on purchasing power. [ads2] [padding right=”15%” left=”15%”][/padding] INFLATION RATES MONTH ON MONTH BASIS (%) (BASE 2007 – 2008) Period CPI CORE INFLATION SPI** WPI General Food Non-food NFNE* Trimmed Sep-16 0.2 0.1 0.2 0.3 0.1 0.1 -0.5 Oct-16 0.8 0.8 0.8 0.9 0.6 0.7 0.0 Nov-16 0.2 0.2 0.2 0.2 0.2 0.3 -0.2 Dec-16 -0.7 -1.9 0.2 0.1…