Author: AdminPAGE

GBP/USD WEEKLY OVERVIEW Continued political uncertainties and recent results of UK election hampered UK’s credit profile bitterly. As ruling Conservative Party has lost its share of the ruling power, pound fell over half a percent against the dollar to $1.2659 on Monday. However pound recovered on Tuesday and traded up 0.7% from $1.2700 to $1.2750. On Wednesday pound increased up against weak dollar to $1.2800. In fact, earlier the pound has fallen to as low as $1.2724. On Thursday pound surged from $1.2700 to $1.2795 after Bank of England meeting hinting rise in interest rates. One can analyze that fundamentals…

MARKET REVIEW The market pared some of the losses of the last week and returned 2% on the last week’s closing to close at 49,527 points. Market participation remained thin as ADT and ADTV both posted a decline of 19% and 53% respectively. Foreign investors were net buyers during the first four days of the week with net FIPI clocking in at USD6.5mn. Lack of foreign participation comes on the back of i) negative developments in the budget and ii) new headwinds on the currency front, especially in the wake of massive debt servicing, proved to be major dampeners for…

KSE-100 INDEX ENDS LOSING STREAK BEFORE LONG HOLIDAYS AMID FOREIGN INVESTORS INTEREST SUMMARY It was a short four-day week for stock exchange with a long Eidul Fitr holidays as Friday remained closed due to Jumma tul Wida. During the week early two days saw the market shedding 1,944 points while profit-taking was seen on the last two days to finally settle the KSE-100 Index at 46,332.31 points by losing 526.25 points, which is 1.12% WoW. The late recovery in the stock exchange came through institutional buying and foreign investors who closed the week with buying of $9.19 million. They were…

PAKISTAN: UBER ALLEGEDLY HACKED! MULTIPLE USERS TWEETING ABOUT UNJUST CHARGES MADE ON UBER ACCOUNT: Despite company’s strong security claims, Uber has faced many hacks. The customers took over Twitter for expressing their concern over Uber account hack and misuse of their credit card details stored in Uber Application. RUSSIA OFFERING VISA-FREE TRAVEL FOR FOOTBALL WORLD CUP: Russia has introduced a new scheme that will allow football fans to enter in the country for 2018 Football World Cup without a visa. Russian President Vladimir Putin has signed a law regarding the visa-free system for football fans who want to visit the…

QATAR INTELLIGENCE OFFICER ADMITS TO SABOTAGING THE UAE Doha: A report broadcasted on Abu Dhabi TV on Thursday featured video footage of Qatari intelligence officer Second Lieutenant Hamad Ali Mohammad Ali Al Hammadi confessing about attempts of sabotage made by Qatar against the UAE government. Al Hammadi said that his mission, given to him by the Qatari Intelligence’s Digital Department, was to buy Emirati SIM cards to create bogus social media accounts, such as Bo3skor and Gannas Al Shimal, which would defame the UAE. “The Digital Department is the one that set up those accounts, as well as other accounts,”…

C/A DEFICIT WIDENS 178%, STANDS AT $8.93B Pakistan’s current account deficit (CAD) widened by a massive 178% in the first 11 months (July-May) of the outgoing fiscal year, standing at $8.93 billion compared to $3.22 billion in the same period of previous year, according to data released by the State Bank of Pakistan (SBP) on Thursday. The enormous increase in the deficit suggests that the government has been unable to manage its balance of payments position over the 11-month period. With the difference between exports and imports being the biggest determinant of the current account balance, a deficit or surplus…

SELECT PULSES REMAIN WEAK ON MUTED DEMAND New Delhi, Jun 23 () Select pulses led by urad fell by up to Rs 200 per quintal at the wholesale pulses market on Friday following easing demand against ample stocks position. Traders said besides low demand from retailers, sufficient stocks position on increased supplies from producing regions, mainly put pressure on urad and other pulses. In the national capital, Urad and its dal chilka drifted lower by Rs 200 each to Rs 4,800-5,700 and Rs 4,900-5,000 per quintal respectively. Its dal best quality and dhoya followed suit and traded lower by a…

PSO LEAPS TOWARDS RETAIL MODERNIZATION IN PARTNERSHIP WITH TELENOR PAKISTAN Pakistan’s largest oil marketing company, Pakistan State Oil, has partnered with Telenor Pakistan, Pakistan premier digital and mobile financial services provider, to offer branchless banking services nationwide utilizing its 3,500 outlets across the country and massive cash management strength; giving its customers the convenience like never before. The agreement was signed between GM NBD PSO, Mr. Babar H Chaudhary and Director Sales & Distribution Telenor Pakistan, Mr. Mohammad Qasim Awan at PSO Headquarters in Karachi. Present at the event were MD PSO Mr. Sheikh Imran-ul-Haque and Telenor Pakistan CEO 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. [ads1] INFLATION RATES MONTH ON MONTH BASIS (%) (BASE 2007 – 2008) Period CPI Core Inflation SPI** WPI General Food Non-food NFNE* Trimmed Jan 16 0.2 -0.6 0.8 0.9 0.6 -0.7 -0.5 Feb 16 -0.3 -0.7 0.0 0.2 0.1 -0.5 -0.6 Mar 16 0.2 0.5 -0.1 0.2 0.2 -0.2 -0.4 Apr 16 1.6 2.4…

[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. [ads1] BALANCE OF TRADE (Million US $) PERIOD EXPORTS (VALUE) IMPORTS (VALUE) BALANCE OF TRADE Jul-16 P 1,495 3,093 -1,598 Aug-16 P 1,840 3,807 -1,967 Sep-16 P 1,672 3,209 -1,537 Oct-16 P 1,826 3,340 -1,514 Nov-16 P 1,841 3,785 -1,944 Dec-16 P 1,860 4,109 -2,249 Jan-17 R 1,770 4,182…

[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. [ads1] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 5.73 6.23 2 – Week 5.75 6.25 1 – Month 5.77 6.27 3 – Month 5.90 6.15 6 – Month 5.91 6.16 9 – Month 5.94 6.44 1 – Year 5.97 6.47 2 – Year 6.07 6.57 3- Year 6.21 6.71

[dropcap]A[/dropcap]n economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous LABOUR Unemployment Rate 5.9 % Dec/15 6 Employed Persons 57420 Thousand Dec/15 56520 Unemployed Persons 3620 Thousand Dec/15 3580 Population 194 Million Dec/16 190 Living Wage Family 30448 PKR/Month Dec/16 30326 Living Wage Individual 16967 PKR/Month Dec/16 16909 Wages High Skilled 43600 PKR/Month Jun/16 51100 MONEY Interest Rate 5.75 % May/17 5.75 Interbank Rate 6.01 % Apr/17 5.99…

[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. [ads1] DEMOGRAPHIC INDICATORS OF PAKISTAN DETAILS 2015 2016 Total Population (Million) 191.71 195.4 Urban Population (Million) 75.19 77.93 Rural Population (Million) 116.52 117.48 Total Fertility Rate (TFR) 3.2 3.1 Crude Birth Rate (Per thousand) 26.1 25.6 Crude Death Rate (Per thousand) 6.80 6.70 Population Growth Rate (Percent) 1.92 1.89 LIFE EXPECTANCY (YEAR) – Female 67.3 67.7 -…

[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. [ads1] INFLATION IN PAKISTAN (Base 2007-08) INDEX AVERAGE JULY – APRIL % CHANGES 2016-17 2015-16 2014-15 CPI 4.09 2.79 4.81 SPI 1.51 1.44 1.86 WPI 4.00 -1.30 0.03

[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] 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

[dropcap]A[/dropcap]s a leading financial institution in the country, National Bank of Pakistan (NBP) has taken numerous but remarkable initiatives that demonstrate its resolve towards the community at large whereas fulfilling its Corporate Social Responsibility (CSR) is an integral part its corporate policy. The Bank taking CSR, an essential and necessary mission running this full-fledged scheme to bring position changes in society by improving life quality of underprivileged ones and in addition to its demarcated and predefined areas of education, health, special persons, women & child, the Bank is always there for the relief of effected people in case of any…

PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 12-May Friday 19-May Friday 26-May Friday 2-Jun Friday 9-Jun Friday 16-Jun DOLLAR Buying 105.9 105.95 106.2 106.25 106.05 106.05 Selling 106.2 106.25 106.5 106.55 106.35 106.35 POUND Buying 135.75 136.5 137.25 135.5 136.75 135 Selling 137.5 138.25 139 137.25 138.5 136.75 EURO Buying 114.5 117.25 118.5 118 118.75 118.5 Selling 115.7 118.45 119.7 119.2 119.95 119.7 CANADIAN $ Buying 77.5 78 78.75 79 78.5 79.7 Selling 78.35 78.85 79.6 79.85 79.35 80.55 JAP YEN Buying 0.9 0.92 0.92 0.92 0.94 0.94 Selling 0.93 0.95 0.95 0.95 0.97 0.97 HK $ Buying 13.35…

CSR AWARD WINNERS IN PAKISTAN 2017 Abbas Steel Pvt Ltd Agha Steel Industries Albario Engineering Pvt Ltd Archroma Pakistan limited Kot Addu Power Company Arif Habib Commodities Asian Food Industries limited Atlas Honda limited Berger Paints Pakistan Ltd Lucky Cement Ltd Bestway Cement Ltd Bin Qutab Crown Group Diamond Jumbolon-Symbol Industries (Pvt) Ltd Mari Petroleum Company Ltd DP world Karachi Dr. Essa Laboratory & Diagnostic Center Engro Corporation Fatima Fertilizer Company Ltd. Mughal Iron & Steel Industries Ltd Fauji Fertilizer Bin Qasim Ltd Feroze 1888 Mills Ltd General Electric Sapphire Electric Power Plant Ghani Engineering System NBP Guls Studio Hi…

[dropcap]M[/dropcap]any research studies concluded that the developing nations are trying their best to return an ideal growth path and providing high-quality care for their citizens and as these nations also need to decrease the poverty rate to attain economic targets the question arise that where should these nations set their sights completely — on rising productivity or per capita income in their regions, or focus on actions to enhance the situation for the poor people? As nations begin to address these challenges, it will be essential to determine whether their responses are effective and important. Pakistan is soon emerging into…

[dropcap]C[/dropcap]orporate Social Responsibility (CSR) is generally understood to be the system in which a firm attains a balance or integration of economic, social and environmental imperatives, whilst at the same time addressing customers and shareholder predictions. On this point, Indus Motor Company Limited (IMC) has been supporting innumerable social and community initiatives for the last 26 years in Pakistan. No doubt, IMC has been seriously taking concrete action to realize its social responsibility aims, thereby creating value for its shareholders and customers. The management respects human rights, values its employees, and invests in innovative technologies and solutions for sustainable power…

GBP/USD WEEKLY OVERVIEW Continued political uncertainties and recent results of UK election hampered UK’s credit profile bitterly. As ruling Conservative Party has lost its share of the ruling power, pound fell over half a percent against the dollar to $1.2659 on Monday. However pound recovered on Tuesday and traded up 0.7% from $1.2700 to $1.2750. On Wednesday pound increased up against weak dollar to $1.2800. In fact, earlier the pound has fallen to as low as $1.2724. On Thursday pound surged from $1.2700 to $1.2795 after Bank of England meeting hinting rise in interest rates. One can analyze that fundamentals…

MARKET REVIEW The market pared some of the losses of the last week and returned 2% on the last week’s closing to close at 49,527 points. Market participation remained thin as ADT and ADTV both posted a decline of 19% and 53% respectively. Foreign investors were net buyers during the first four days of the week with net FIPI clocking in at USD6.5mn. Lack of foreign participation comes on the back of i) negative developments in the budget and ii) new headwinds on the currency front, especially in the wake of massive debt servicing, proved to be major dampeners for…

PROFIT-TAKING PERSISTS OVER POLITICAL NOISE, INDEX DOWN 5.4PC SUMMARY The investors in the Pakistan Stock Exchange remained in uncertain mode during the last week due to political suspense created by the appearance of Prime Minister Nawaz Sharif before the JIT (Joint Investigation Team) and its controversies surrounding Panama Pagers case. Added to the woes of falling KSE-100 Index of 2,668.36 points during the week, was the pressure in oil and banking stocks on dismal earnings outlook; the falling foreign outflow of $9.49m; weak global crude prices; weak banking spreads; additional tax levies in cement sector and the super tax levies…

PAKISTAN: GALAXY NOTE 8 COULD BECOME THE FIRST SMARTPHONE TO BE POWERED BY QUALCOMM’S SNAPDRAGON 836 SOC: Leaked Specifications of Galaxy S8 revealed that the next phablet would feature Snapdragon 835 or Exynos 8895 similar model. However, latest info shows that Samsung might have different intentions for Note 8 that’s why there could be a decent performance difference between the upcoming flagship and Galaxy S8 and Galaxy S8+. MOIT IS SEEKING THE FEDERAL CABINET’S APPROVEL FOR MARKET TEST OF THE 5G IN PAKISTAN: The Ministry of Information Technology and Telecom is seeking the federal Cabinet’s approval for market test of…

RATE HIKE AND FUTURE GUIDANCE POINT TO HIGHER COST OF FUNDS IN GCC The Central Bank of UAE late on Wednesday raised in its key interest rate by 25 basis points, following the US Federal Reserve’s decision to hike rates by the same margin. The apex bank has effected the rate increase by hiking its repo rate or the rate at which it provides short-term liquidity to banks against certificates of deposits. With the latest increase, the repo rate has been increased to 1.50 per cent. Analysts said the latest round of rate hike and the guidance indicating up to…

SBP’S RESERVES FALL 2.61PC, AMOUNT TO $15.3B Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 2.61% on a weekly basis, according to data released on Thursday. On June 9, the foreign currency reserves held by the central bank were recorded at $15,296.3 million, decreasing $410.3 million or 2.61%, compared to $15,706.6 million in the previous week, according to the central bank. Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,157.8 million. Net reserves held by banks amounted to $4,861.5 million. Last week, the SBP…

HERO MOTOCORP’S PAWAN MUNJAL TAKES HOME RS 59.66CR PAY IN FY17 New Delhi, Jun 16 () Hero MotoCorp Chairman, MD and CEO Pawan Munjal took home a salary of Rs 59.66 crore in 2016 -17, up 3.94 per cent from the previous fiscal. According to the company’s annual report for 2016-17, the ratio of Munjal’s pay to the median remuneration of employees was 731. The median remuneration of the company’s employees during the financial year was Rs 8.16 lakh. Remuneration of Sunil Kant Munjal, who was the Joint MD of the company up to August 16, 2016, stood at Rs…

UBER LAUNCHES CSR CAMPAIGN TO RAISE FUNDS FOR SHAUKAT KHANUM As part of its Corporate Social Responsibility initiatives in Ramzan, Uber the world’s leading technology app that connects riders to drivers (partners) has joined hands with Shaukat Khanum Memorial Cancer Hospital and Research Centre (SKMCH&RC). The aim of the CSR partnership is to raise funds for SKMCH&RC by utilizing Uber’s technology platform. Uber will donate the complete payment for any ride taken using the promo code UBERLOVESSKMH to Shaukat Khanum. For the first round of the campaign, the Uber team went to SKMH last Friday with gifts for children. While…

[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] INFLATION RATES MONTH ON MONTH BASIS (%) (BASE 2007 – 2008) Period CPI Core Inflation SPI** WPI General Food Non-food NFNE* Trimmed Jan 16 0.2 -0.6 0.8 0.9 0.6 -0.7 -0.5 Feb 16 -0.3 -0.7 0.0 0.2 0.1 -0.5 -0.6 Mar 16 0.2 0.5 -0.1 0.2 0.2 -0.2 -0.4 Apr 16 1.6 2.4 1.0…

[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. [ads1] BALANCE OF TRADE (Million US $) PERIOD EXPORTS (VALUE) IMPORTS (VALUE) BALANCE OF TRADE Jul-16 P 1,495 3,093 -1,598 Aug-16 P 1,840 3,807 -1,967 Sep-16 P 1,672 3,209 -1,537 Oct-16 P 1,826 3,340 -1,514 Nov-16 P 1,841 3,785 -1,944 Dec-16 P 1,860 4,109 -2,249 Jan-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. [ads1] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 5.73 6.23 2 – Week 5.75 6.25 1 – Month 5.77 6.27 3 – Month 5.90 6.15 6 – Month 5.91 6.16 9 – Month 5.94 6.44 1 – Year 5.97 6.47 2 – Year 6.07 6.57 3- Year 6.21 6.71

[dropcap]A[/dropcap]n economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous LABOUR Unemployment Rate 5.9 % Dec/15 6 Employed Persons 57420 Thousand Dec/15 56520 Unemployed Persons 3620 Thousand Dec/15 3580 Population 194 Million Dec/16 190 Living Wage Family 30448 PKR/Month Dec/16 30326 Living Wage Individual 16967 PKR/Month Dec/16 16909 Wages High Skilled 43600 PKR/Month Jun/16 51100 MONEY Interest Rate 5.75 % May/17 5.75 Interbank Rate 6.01 % Apr/17 5.99…

[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. [ads1] DEMOGRAPHIC INDICATORS OF PAKISTAN DETAILS 2015 2016 Total Population (Million) 191.71 195.4 Urban Population (Million) 75.19 77.93 Rural Population (Million) 116.52 117.48 Total Fertility Rate (TFR) 3.2 3.1 Crude Birth Rate (Per thousand) 26.1 25.6 Crude Death Rate (Per thousand) 6.80 6.70 Population Growth Rate (Percent) 1.92 1.89 LIFE EXPECTANCY (YEAR) – Female 67.3 67.7 -…

[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. [ads1] INFLATION IN PAKISTAN (Base 2007-08) INDEX AVERAGE JULY – APRIL % CHANGES 2016-17 2015-16 2014-15 CPI 4.09 2.79 4.81 SPI 1.51 1.44 1.86 WPI 4.00 -1.30 0.03

[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] 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

[dropcap]I[/dropcap]slamic banks are less risky and more resilient than their counter parts in terms of bank capital requirement and mobilisation of deposits. Somewhat perversely, the global financial crisis presented a big opportunity to the Islamic banking and finance industry. In 2008-2009, the Islamic banking industry was estimated to have experienced asset growth of 31.8% compared to 12.6% in the conventional banking. The Islamic bank total assets range between US$1.88 trillion to US$2.1 trillion in 2016 and are expected to reach US$3.4 trillion by 2018 globally. It provides an alternative financial services option to all consumers and investors. As opposed to…

PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 5-May Friday 12-May Friday 19-May Friday 26-May Friday 2-Jun Friday 9-Jun DOLLAR Buying 105.75 105.9 105.95 106.2 106.25 106.05 Selling 106.05 106.2 106.25 106.5 106.55 106.35 POUND Buying 135.75 135.75 136.5 137.25 135.5 136.75 Selling 137.5 137.5 138.25 139 137.25 138.5 EURO Buying 115.5 114.5 117.25 118.5 118 118.75 Selling 116.7 115.7 118.45 119.7 119.2 119.95 CANADIAN $ Buying 77 77.5 78 78.75 79 78.5 Selling 77.85 78.35 78.85 79.6 79.85 79.35 JAP YEN Buying 0.91 0.9 0.92 0.92 0.92 0.94 Selling 0.94 0.93 0.95 0.95 0.95 0.97 HK $ Buying…

GBP/USD WEEKLY OVERVIEW Pound rose on Monday after dropping nearly half a cent against the Dollar after a militant attack in London. Pound decline from $ 1.2893 to $ 1.2851. on Tuesday Pound hits its highest level against the Dollar within two weeks at $ 1.2951 on Wednesday Pound inched up and touched $ 1.2970 on expected victory of Prime Minister Theresa May. However Pound rose 4% after Theresa May announced election seven weeks ago. On Thursday Pound surged a two weeks high of $ 1.2978in early session. Pound will get more momentum if Conservative Party of Theresa May get…

MARKET REVIEW The market pared some of the losses of the last week and returned 2% on the last week’s closing to close at 49,527 points. Market participation remained thin as ADT and ADTV both posted a decline of 19% and 53% respectively. Foreign investors were net buyers during the first four days of the week with net FIPI clocking in at USD6.5mn. Lack of foreign participation comes on the back of i) negative developments in the budget and ii) new headwinds on the currency front, especially in the wake of massive debt servicing, proved to be major dampeners for…

PSX RECOVERS PARTLY LAST WEEK LOSSES, INDEX GAINS 971 POINTS SUMMARY Last week was a worst week since Feb 2009 when Index closed 7.8% WoW with the Index closing 48,555.30. The benchmark KSE-100 Index closed 25 WoW higher at 49,527 this week, partly recovering last week losses. This week the foreigners become net buyers worth $14,04m compared to net seller $149.55m last week. The market capitalization this week increased to Rs9.859 trillion from Rs9.696 trillion last week. The average volume turnover this week declined to 239.35 compared to 294.84 last week. On Monday, the PSX makes historic gains of 1565.63…

PSE RECOVERS; ME GEOPOLITICAL TURMOIL, UK ELECTION AND ECB RATE POLICY MAY IMPINGE ON The benchmark of Pakistan Stock Exchange (PSE) posted a gain of 2.0%WoW this week to close at 49,527 level. Last week the KSE-100 Index had posted a decline of 7.75%. This week, the keen interest of foreign investors resulted in inflows of US$6.5 million as compared to outflows of US$149.5 million a week ago. The daily traded volumes fell by almost 19%WoW to 239.3 million shares. The volume leaders were: EPCL, DSL, DFSM, ANL and ASL. While the gainers were: EPCL, AGTL, ICI, HCAR and INDU,…

PAKISTAN: INTEL’S CORE-X SERIES WILL BE SEEING STAGGERED LAUNCH: CORE I9-7900X AND BELOW READY TO LAUNCH, CORE I9-7920X THROUGH 19-7980XE DELAYED: Intel has recently unveiled its Kaby Lake-X and SkyLake-X processors and as a part of its Core-X series made everyone surprised by the huge amount of core counts that included in the lineup. With options ranging from 4 Cores / 8 Threads to 18 Cores / 36 Threads, this is a very first time when Intel has departed so heavily from moderate yearly core count increases on HEDT side of things. AMD RADEON VEGA FRONTIER EDITION COMPUBENCH BENCHMARK LEAKED:…

BUYERS LINING UP FOR DUBAI’S READY PROPERTIES Even ready properties in Dubai are getting right into the thick of sales action going by the numbers notched up in the first five months. If this interest in ready properties holds up even after summer, it will allay concerns in real estate circles that buyer demand is there only for off-plan units. According to data from Reidin-GCP, 5,397 ready properties were sold in the first five months, a marked improvement on the volumes in 2016 (4,521 units during the same period). And they seem to be moving back to the levels set…

PM MEETS AFGHAN PRESIDENT ON SIDELINES OF SCO SUMMIT Prime Minister Nawaz Sharif met Afghan President Ashraf Ghani on the sidelines of the Shanghai Cooperation Organisation (SCO) Summit in Astana, Kazakhstan on Friday. The meeting comes amid escalating tensions between the two countries. Ghani on Tuesday accused Pakistan of waging an ‘undeclared war of aggression’ against Afghanistan as he launched a so-called Kabul Process aiming to set the stage for peace talks and clinch an international pact to end ‘cross-border terrorism’. “What will it take to convince Pakistan that a stable Afghanistan helps them and helps our region?” he had…

INDIA SEES $1 TRILLION DIGITAL ECONOMY BY 2022 The information technology (IT) industry, which is reeling under pressures from key Western markets, will have a formal meeting with the Centre to discuss various problems that have reportedly resulted in job losses across the sector, a senior government official said. In separate letters to top IT officials, Ministry of Electronics and Information Technology’s additional secretary Ajay Kumar wrote that the government is organising a high-level roundtable with select industry leaders for developing the roadmap towards the Centre’s target of having a $1-trillion digital economy by 2022. The meeting, which is expected…

DIABETES AWARENESS DURING IFTAR AND DINNER AT PAKISTAN ASSOCIATION DUBAI The Diabetes Centre – Pakistan (TDC) organized a diabetes awareness iftar and dinner at the premises of Pakistan Association Dubai on Friday, June 2, 2017. The event was well attended. HE Moazzam Ahmed Khan, Ambassador of Islamic Republic of Pakistan to the UAE was the Chief Guest. In his presentation on Diabetes, the Chairman of TDC, Dr. Asjad Hameed, informed the audience that diabetes is one of the leading causes of morbidity and mortality throughout the world. Diabetes is associated with high rate of hospitalization, blindness, amputation, heart disease and…

[dropcap]W[/dropcap]hile the established global Banking and Financial Institutions and System continue to debate the one-size-fits-all and ongoing Basel reforms, now at no. IV and the Bank for International Settlements is once again rewriting the rules that govern the banks capital to mitigate their exposures to different types of risks, and while oversight authorities focus on specific models to measure Counterparty Credit Risk Exposures, there is an age-old parallel system of transferring money and performing other monetary transactions that are completely out of the officially governed oversight radar, scope and view. It’s called Havala or the poor man’s Bitcoin. Are the…

Dr Ayub Mehar, one of the leading economists in Pakistan, shared the following with PAGE regarding IMF Reports: Within just 10 days last year, three international eminent institutions released their reports on Pakistan economy: First, World Trade Organization (WTO) issued its ‘Trade Policy Review’ for Pakistan which discusses the implementation and outputs of Pakistan Trade Policy Framework 2015-18. Second, Asian Development Bank (ADB) issued its report on Pakistan economy in global comparison. Third, the International Monetary Fund (IMF) released its statement on the discussion between IMF representatives and Pakistani delegation held in Dubai from March 28 to April 05, 2017.…

PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 28-Apr Friday 5-May Friday 12-May Friday 19-May Friday 26-May Friday 2-Jun DOLLAR Buying 106 105.75 105.9 105.95 106.2 106.25 Selling 106.3 106.05 106.2 106.25 106.5 106.55 POUND Buying 135.75 135.75 135.75 136.5 137.25 135.5 Selling 137.5 137.5 137.5 138.25 139 137.25 EURO Buying 114.5 115.5 114.5 117.25 118.5 118 Selling 115.7 116.7 115.7 118.45 119.7 119.2 CANADIAN $ Buying 78 77 77.5 78 78.75 79 Selling 78.85 77.85 78.35 78.85 79.6 79.85 JAP YEN Buying 0.93 0.91 0.9 0.92 0.92 0.92 Selling 0.96 0.94 0.93 0.95 0.95 0.95 HK $ Buying…

GBP/USD WEEKLY OVERVIEW Pound lost its intensity soon after a suicide bombing attack on 23/05/2017 in the English City of Manchester resulting slipping of Pound below seven month high against the Dollar as the election campaign for election of June 8 has been suspended by main political parties of Britain. On Tuesday Pound traded lower, last down 0.1 % at $ 1.2993 below its highest level since September 29 hit last week. Pound has gained nearly 4 % since May. On Wednesday Pound got recovery after this week’s fell from eight months high by inching 0.1 % higher at $…

MARKET REVIEW The eagerly anticipated inclusion of Pakistan in MSCI-EM materialized in the week however, the more than anticipated foreign selling weighed in on the investor sentiment with KSE-100 losing 7.8%WoW, closing at 48,555 points level. Market activity however, picked up significantly with ATDV surging 24.6%WoW, respectively. Foreigners remained aggressive sellers in the first four days of the week with a net FIPI outflow of USD126mn where the gross FIPI activity increased around 4x. The selling was primarily concentrated in Banks and Cements. The market also factored in the negatives of the Budget’18 for capital markets, where capital gain tax…

BEARS RULE PERSIST DESPITE HISTORIC MSCI UPGRADE AND NEW TAX MEASURES SUMMARY Government’s decision to impose taxes on dividends and capital gains along with reintroduction of super tax hurt investors’ sentiments at the stock market on Monday as the investors went for profit-taking. On Monday market closed at 52,138.9 points thus shedding 497.97 points. During Monday the major laggards were Habib Bank (-2.4%), Lucky Cement (-2.81%0, UBL (-2.60) and Pak Elektron (-3.93 points), which cumulatively work out -247 in the total drop out. The trading volume too fell to 203 million shares. The market remained in bearish mode throughout the…

TWO HISTORIC OUTCOMES FAIL TO IMPRESS TRADING, INVESTORS Market kept the bearish spell throughout the week despite government introduction of more taxes on non-filers and of historic upgrade and in fact re-including of Pakistan stocks index into MSCI status as all this outcome pushed market into the negative territory. Pakistani stocks closed lower on Monday as investors anticipated the introduction of additional taxes for those who do not file income tax in the country’s budget announcement, dealers said. The benchmark 100-share index of the Pakistan Stock Exchange finished lower by 1.25 percent, or 459.57 points, at 36,234.69. Government’s decision to…

PAKISTAN: GOOGLE SAYS IT WOULD COST TOO MUCH TO GATHER WAGE GAP DATA: The department of labor will keep bothering Google for the salary records because the tech titan keeps joining the handover. These record can be proved at once and Mountain View truly pays women a lot less then it does mean. The labor department is blaming the big G of “systemic compensation disparities against women pretty much across the entire workforce” and it sues the company for its salary information. RESEARCHERS FIND A MORE EFFECTIVE WAY TO TEST SELF-DRIVING CARS: It is very difficult to test self-driving cars. Even when you drive the…

DOS AND DON’TS FOR TAKING PICTURES ON AIRPLANES Dubai: It seems mundane enough – you hop on an aircraft, and as you wait for it to take off, you snap some selfies and maybe a video. And what’s a selfie if you don’t show it off to the world via social media, right? Harmless as it sounds, you may well be violating airline rules. As per the rules on-board Emirates flights, for example, passengers can take photos or videos of their personal experiences using small cameras or smartphones as long as they do not violate others’ privacy. “Customers must keep…

WORLDWIDE FIRMS COMPETE TO SET UP CONVERTER STATION IN PAKISTAN The four countries that are part of the Central Asia-South Asia (Casa) 1,000-megawatt power supply project have opened for evaluation the technical bids received from international companies interested in providing and setting up converter stations for electricity transmission through an energy corridor. According to officials aware of the development, Pakistan, Afghanistan, Tajikistan and Kyrgyzstan met in Dubai recently and opened technical bids filed by German, French, US and Chinese companies for the installation of converter stations under the Casa-1,000 project. The Central Asia-South Asia regional electricity market is planned to…

RESPECT HUMAN RIGHTS, DIGNITY, NHRC TELLS BUSINESSES KOLKATA: The National Human Rights Commission (NHRC) in collaboration with the Confederation of Indian Industry (CII) organized East Regional Conference on Business Human Rights in Kolkata on Friday. The objective of the Conference, the third of its kind, is to share the developments in the area of business and human rights besides hearing experiences and views of stakeholders. Justice Darmar Murugesan, Member of NHRC said that availability and accessibility of human rights are an important measure of human well being universal in nature. It is crucial that business enterprises respect human rights culture…

STANDARD CHARTERED LAUNCHES ’NO.1 BANK’ BRAND CAMPAIGN Campaign showcases recent achievements, reiterating capabilities and commitment to supporting the growth of the Africa and Middle East region Standard Chartered Bank recently announced the launch of its “No.1 Bank: power your ambitions” campaign to highlight its recent achievements and reiterate its commitment to the Africa, Middle East and Pakistan region. Standard Chartered’s domination of awards is backed by the wide-range of world-class products and services for personal and business customers across the region. From financing major energy, telecoms, mining and infrastructure projects to growing businesses and building communities, Standard Chartered’s No 1…

[dropcap]A[/dropcap]s the leading 3PL logistics provider in the country with more than 700 employees across 8 locations countrywide, Agility Pakistan strongly believes in the potential of CPEC to emerge as a game changer in enhancing the economic potential of our nation. A mega project valued at approximately $46 billion, CPEC includes road and infrastructure projects that are about 3,000-km network of highways, railways and pipelines. This corridor will provide the shortest link to Indian and Arabian Ocean. Of critical importance in the CPEC plan is China’s Xinjiang province in Pakistan’s immediate neighborhood. Xinjiang is China’s top cotton growing area, producing…

PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 21-Apr Friday 28-Apr Friday 5-May Friday 12-May Friday 19-May Friday 26-May DOLLAR Buying 106.1 106 105.75 105.9 105.95 106.2 Selling 106.4 106.3 106.05 106.2 106.25 106.5 POUND Buying 135 135.75 135.75 135.75 136.5 137.25 Selling 136.75 137.5 137.5 137.5 138.25 139 EURO Buying 112.75 114.5 115.5 114.5 117.25 118.5 Selling 113.45 115.7 116.7 115.7 118.45 119.7 CANADIAN $ Buying 78.25 78 77 77.5 78 78.75 Selling 79.1 78.85 77.85 78.35 78.85 79.6 JAP YEN Buying 0.94 0.93 0.91 0.9 0.92 0.92 Selling 0.97 0.96 0.94 0.93 0.95 0.95 HK $ Buying 13.35…

GBP/USD WEEKLY OVERVIEW Pound lost its intensity soon after a suicide bombing attack on 23/05/2017 in the English City of Manchester resulting slipping of Pound below seven month high against the Dollar as the election campaign for election of June 8 has been suspended by main political parties of Britain. On Tuesday Pound traded lower, last down 0.1 % at $ 1.2993 below its highest level since September 29 hit last week. Pound has gained nearly 4 % since May. On Wednesday Pound got recovery after this week’s fell from eight months high by inching 0.1 % higher at $…

MARKET REVIEW The week started off on a bullish note with the index gaining 1.2% on the first trading session of the week on the back of MSCI euphoria. However, confusion regarding pro forma weight in the MSCI Emerging market index resulted in bearish sentiments for the remaining part of the week where the index closed at 50,742 points, down 1.9%WoW. Foreigners remained net sellers during the week with a net FIPI outflow of USD16.4mn. Furthermore, trading activity remained muted during the week with ADT and ADTV witnessing a decrease of 1.5%WoW and 5.5%WoW, respectively. During the week, National Accounts…

BULLS TAKE A BREATHER AS STOCKS RETREAT ON PROFIT-TAKING SUMMARY The fundamentals which had impact on the market were due to the movement of oil prices during the week when oil sector on Monday lift the equities while at later stage on Thursday when a slump in the global crude prices brought equities down. The MSCI stock euphoria reemerged as investors flocked to cherry picking the small cap stocks that would be part of the MSCI Emerging Market Index from June 1. SECP has introduced a post close trading session to accommodate expected hike in trading activity. The post closing…

PAKISTAN: IPHONE 8 RELEASE DATE, SPECS, RUMOURS, AND PRICE: Apple has major iPhone redesign planned for 2017, the new iPhone is coming with glass body and edge-to-edge OLED display which include an integrated Touch ID fingerprint sensor and front facing the camera. The new iPhone may be sold alongside upgraded 4.7 and 5.5 inch iPhones. Let’s go through the iPhone 8 release date in Pakistan, specifications, latest news and iPhone 8 price in Pakistan. WITH UBER FREIGHT, UBER IS BRINGING THE RIDE HAILING MODEL TO TRUCKING: In its Quest to overtake the transportation business, Uber is dreaming about the day when…

MASHREQ MARKS 50 GOLDEN YEAR OF SERVICE His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, attended Mashreq Bank’s golden jubilee celebrations in Dubai on Sunday. The ceremony was also attended by Sheikh Hasher bin Maktoum Al Maktoum, Director-General of the Dubai Department of Information; Sultan bin Saeed Al Mansouri, UAE Minister of Economy; and Abdul Aziz Abdullah Al Ghurair, chief executive officer of Mashreq Bank, along with a number of officials. Sheikh Mohammed viewed a film…

PKR 916 MN EARMARKED FOR PRIME MINISTER OFFICE The federal government has proposed Rs916 million for the Prime Minister Office in the federal budget 2017-18, which is just 4.0 percent higher when compared with Rs881 million allocated in the outgoing fiscal year. Interestingly, the amount proposed for the Presidency is a bit higher than that of the PM Office. It saw an increase of 11 per cent to Rs959 million, from Rs863 million in the outgoing fiscal year which was later revised up to Rs941 million. However, the newly-proposed budget for the PM Office i.e. Rs916 million shows 3.6 percent…

BANKS WRITE OFF BAD LOANS PUNE: All scheduled commercial banks (SCBs) wrote off Rs 2,25,180 crore cumulatively in the five-year period ended March 2016, the Reserve Bank of India (RBI) said in an RTI reply filed by TOI. SCBs represent all public sector banks, private sector banks, foreign banks, regional rural banks and some co-operative banks. These represent over 95% of the formal credit given out by all financial institutions in the country. “This could be the highest ever write-off in a five-year period in absolute terms as are the total stressed assets in the banking system,” said Abhishek Bhattacharya,…

DIABETES CENTRE The Diabetes Centre – TDC, a Not-for-profit organization established to take the bold initiative of fighting Diabetes in Pakistan with international standards of quality care on a welfare basis. Currently, a site clinic which is providing medical services where 60% under privileged diabetic patients are being cured free of cost. Right now, 1 in 10 Pakistanis is diabetic and over 2 million Pakistanis are suffering from this disease and this number is on rise. For this purpose, TDC is frequently organizing diabetes awareness and screening caps in all metropolis and rural areas for timely detection of diabetes. While…

PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 14-Apr Friday 21-Apr Friday 28-Apr Friday 5-May Friday 12-May Friday 19-May DOLLAR Buying 106.15 106.1 106 105.75 105.9 105.95 Selling 106.45 106.4 106.3 106.05 106.2 106.25 POUND Buying 132 135 135.75 135.75 135.75 136.5 Selling 133.75 136.75 137.5 137.5 137.5 138.25 EURO Buying 112 112.75 114.5 115.5 114.5 117.25 Selling 113.2 113.45 115.7 116.7 115.7 118.45 CANADIAN $ Buying 79 78.25 78 77 77.5 78 Selling 79.85 79.1 78.85 77.85 78.35 78.85 JAP YEN Buying 0.94 0.94 0.93 0.91 0.9 0.92 Selling 0.97 0.97 0.96 0.94 0.93 0.95 HK $ Buying…

GBP/USD WEEKLY OVERVIEW On Monday dollar fell touching lows of various major currencies after a weak US manufacturing data that tumbles commodities prices in US and causing dollar to decline while Pound rose towards $ 1.30 and later steadied below at $ 1.30. After unexpected inflationary trend up to 2.7 % in April the Pound hit an almost one-week high against the dollar before selling pressure which pushed it to $ 1.2865. However, the Pound had recovered its losses up 0.1% to $1.2909. On Wednesday Pound hit its highest in almost eight months due to higher growth in employment rate…

MARKET REVIEW The week started off on a bullish note with the index gaining 1.2% on the first trading session of the week on the back of MSCI euphoria. However, confusion regarding pro forma weight in the MSCI Emerging market index resulted in bearish sentiments for the remaining part of the week where the index closed at 50,742 points, down 1.9%WoW. Foreigners remained net sellers during the week with a net FIPI outflow of USD16.4mn. Furthermore, trading activity remained muted during the week with ADT and ADTV witnessing a decrease of 1.5%WoW and 5.5%WoW, respectively. During the week, National Accounts…

BEARS DOMINATE, INVESTORS CONTINUE WITH PROFIT-TAKING SUMMARY The euphoria of MSCI subsided this week and the bears took control of the market when it remained bearish for four days as investors opted for profit-taking since last week close on Friday when the KSE-100 Index closed at record high 51,750.91. The Index, however, shed 1008.88 points to close this Friday at 50,742.03 after reaching the highest point this week on Monday at 52,387.87 points. The volume this week averaged to 349 million shares compared to 347 last week while market capital declined to Rs10.095 trillion. The foreigner remained seller with $16.38m…

PAKISTAN: ZTE IS EXPANDING ITS PARTNERSHIP IN PAKISTAN TO EXTEND DIGITAL TELEVISION SERVICES: China’s ZTE is expanding its partnership in Pakistan to extend digital television services into more regions of the country, including in remote mountainous areas, Zhang Zhenhui, executive vice president at the company. The Shenzhen-based tech and telecom company will sign the agreement on Sunday (today) at China’s Belt and Road Forum, a two-day meeting on the country’s major foreign policy initiative. SEVERE ACTION AGAINST UNDER THE CYBER CRIMES LAW: Minister of State for Information, Broadcasting and National Heritage Marriyum Aurangzeb  urged social media users to refrain from…

UAE DIGITAL INVESTMENT Dubai: In three years, the UAE has grown the size of its investment in technology from $35 million (Dh128.5 million) in 2013 to $799 million in 2016, according to a new report released by Dubai SME. The State of Digital Investments in Mena report highlights how the UAE remains the preferred destination for investors and entrepreneurs for the fourth year in a row. “The directives of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to develop an investor-friendly economy and provide data to ensure successful investments…

NEC APPROVES PKR 2.5TR FOR DEVELOPMENT OUTLAY The National Economic Council (NEC) on Friday approved the new financial year’s economic framework on rosy assumptions while setting aside a relatively realistic picture painted by the Ministry of Planning and also endorsed a Rs2.5-trillion national development outlay for public investment, source said to Research Analyst-PAGE. The NEC did not approve next year’s current account deficit target of $10.4 billion, which was equivalent to 3.1% of gross domestic product (GDP), after the finance ministry gave assurances to the council that it would curtail imports and enhance exports. Prime Minister Nawaz Sharif chaired the…

GST IMPACT ON SERVICES AND PRODUCTS SRINAGAR: Telephone bills, insurance and banking services, business-class air travel and sale of newspaper space for advertisements will become costlier in the upcoming GST regime but education and healthcare will continue to be exempt from tax. The all-powerful GST Council today finalised tax rates for services under the new regime set to kick in from July 1, earmarking an 18 per cent rate for telecom and financial services, which include banking and insurance, up from current 15 per cent. Though the government insisted that tax incidence will be same as the current if telecom…

FUTURE TRUST PARTNERS WITH USAID TO ADDRESS DEVELOPMENT CHALLENGES IN PAKISTAN Future Trust and USAID have signed a memorandum of understanding to address development challenges in Pakistan. Both partners seek to provide collective opportunities and support to people of Pakistan through their ongoing and upcoming projects on science, technology and innovation for promoting youth employment and entrepreneurship. Furthermore, the partnership intends to foster linkages with US institutions for innovation & technology transfers. Speaking at the occasion, Ali Raza Siddiqui, Chairman Future Trust, said “Our partnership with USAID will provide a great opportunity to the youth of Pakistan in acquiring progressive…

PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 7-Apr Friday 14-Apr Friday 21-Apr Friday 28-Apr Friday 5-May Friday 12-May DOLLAR Buying 106.2 106.15 106.1 106 105.75 105.9 Selling 106.5 106.45 106.4 106.3 106.05 106.2 POUND Buying 131.5 132 135 135.75 135.75 135.75 Selling 133.25 133.75 136.75 137.5 137.5 137.5 EURO Buying 112.5 112 112.75 114.5 115.5 114.5 Selling 113.7 113.2 113.45 115.7 116.7 115.7 CANADIAN $ Buying 78.75 79 78.25 78 77 77.5 Selling 79.6 79.85 79.1 78.85 77.85 78.35 JAP YEN Buying 0.93 0.94 0.94 0.93 0.91 0.9 Selling 0.96 0.97 0.97 0.96 0.94 0.93 HK $ Buying 13.4…

GBP/USD WEEKLY OVERVIEW Pound surged up on Tuesday due to strong unexpected UK manufacturing data erupted as a result Pound rose against Dollar to a 3 year peak in April. It traded up 0.3% at $ 1.2922, less than a cent off a seven month peak versus the Dollar. On the other hand Pound steadied below seven month high verses Dollar on Wednesday, due to positive increase in construction PMI showing growth of Britain’s construction industry. Pound was 0.2% lower at $ 1.2910 and dipped about 40 ticks after Prime Minister Theresa May speech on Wednesday over Brexit issue. On…

MARKET REVIEW The week started off on a bullish note with the index gaining 2.2% on the first trading session of the week as MSCI euphoria started building up. However, the excitement subsided a little and the index closed the week at 51,751 points level, returning 3.6%WoW on closing basis. Foreigners remained net sellers during the week with a net FIPI outflow of USD2.6mn. However, trading activity picked up in the week with ADT and ADTV witnessing an increase of 32.7%WoW and 34.6%WoW, respectively. During the week, Pakistan Bureau of Statistics (PBS) released trade deficit data for the month of…

MSCI EUPHORIA TOSSES INDEX ON A RECORD BREAKING STREAK SUMMARY During the week the stock market remained bullish throughout the all five sessions of the week and continued taking new high with each day gathering 1,899.78 points to close the last day of the week, Friday, at 51,750.91. The KSE-100 Index closed at 49,857points during the preceding Friday thus moving this week by 3.81 percent. The undercurrent, which moved the market and provided positive sentiment seems to lead after reclassification of MSCI date coming closure, May 15 and a bit political relaxation by settlement between Government and Army and upward…

PAKISTAN: IPHONE 8 COULD FEATURE A HORIZONTAL EDGE-TO-EDGE DISPLAY – AIRPODS COULD BE BUNDLED: The iPhone 8 might be using a different set of materials in its building to deliver new features that have not been present in any iPhone before could set the consumers back by a lot of funds. GALAXY S7 ACHIEVES ANOTHER MILESTONE- BECOMES MOST USED SAMSUNG DEVICE: The improvement of Samsung Galaxy series is pretty impressive as their market share is, both successor of Galaxy S6 the Galaxy S7 and Galaxy S7 Edge represent the best of the best smartphones in Android smartphone industry. HOW TO…

BUDGET DEFICIT OF SAUDI ARABIA Riyadh, Dubai: Saudi Arabia’s first-quarter deficit narrowed on higher oil revenue, boosting the government’s efforts to repair public finances as it implements an economic blueprint for life after oil. The budget deficit for the three months to March was 26.2 billion riyals (Dh25.6 billion, $7 billion), the finance ministry said in a report on Thursday. That compared with 91 billion riyals in the period a year ago, according to Bloomberg calculations using the official data. Quarterly revenue rose 72 per cent to 144.1 billion riyals, while expenses fell 2.5 per cent to 170 billion riyals,…

TO HELP PAKISTAN RISE EXPORTS, THESE CIVIL SERVANTS WILL MAKE UP TO RS120,000 MORE The government has decided to hand out large amounts as monthly allowances to bureaucrats, a move which has landed both parties in hot water. Officials serving in the Ministry of Commerce will receive up to Rs120,000 for conducting studies for promotion of exports. According to sources, Commerce Minister Khurram Dastgir Khan, who chairs the Board of Export Development Fund (EDF), approved to pay between Rs50,000 and Rs120,000 in monthly allowances to all bureaucrats in service, except for the federal secretary. However, the commerce minister stated in…

RICE BASMATI, WHEAT WEAKEN ON REDUCED OFF TAKE New Delhi : Rice basmati and wheat prices fell by up to Rs 100 per quintal at the wholesale grains market today due to reduced off take against sufficient stocks position. Market men said muted demand from retailers led to the slide in rice basmati prices. They said that reduced off take by flour mills amid sufficient stocks position on persistent supplies from growing regions kept pressure on wheat prices. Meanwhile, the government projected wheat output at an all-time high of 97.44 million tonnes (MT) in the 2016-17 crop year ending next…

PMEX LISTS WHEAT WEEKLY FUTURES CONTRACTS Pakistan Mercantile Exchange (PMEX), the country’s only commodity futures exchange, launched Wheat Weekly Futures Contracts duly approved by the Securities and Exchange Commission of Pakistan (SECP). This is the third listing of an agricultural commodity on PMEX electronic trading platform within the last two years after red chilli and super basmati paddy rice where compulsory delivery is a key feature. The trading of Wheat at PMEX will provide an opportunity to the buyers to procure quality certified product as per contract specifications in an efficient and transparent manner. It will also help farmers to…

[dropcap]A[/dropcap] variety of indicators suggest that China has come perilously close to a banking crisis. So far, the government has managed to keep things in check. A state-led debt restructuring indicates Chinese officials have learnt some of the lessons of the bad loan crisis faced by state banks in the 1990s. Tight control over banks and their senior personnel has long given China a ready-made platform to control its financial institutions. But controlling the effects of financial contagion is very different from the supply side policies that central planners have long relied on. Plus, unlike the 1990s when the problem…

[dropcap]T[/dropcap]he following article is reprinted with permission from The Conversation, an online publication covering the latest research. The largest sovereign wealth fund in the world, Norway’s US$930 billion Government Pension Fund Global, is seen as the epitome of socially responsible finance. But if this is the best the investment world can offer, it offers scant hope that sustainability can be achieved through the influence of investors. The fund, which owes its size to profits from Norway’s oil and gas industry, has become a powerful player in global markets since getting its first injection of capital in 1996. Despite its deep…

PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 31-Mar Friday 7-Apr Friday 14-Apr Friday 21-Apr Friday 28-Apr Friday 5-May DOLLAR Buying 106.45 106.2 106.15 106.1 106 105.75 Selling 106.75 106.5 106.45 106.4 106.3 106.05 POUND Buying 131.25 131.5 132 135 135.75 135.75 Selling 133 133.25 133.75 136.75 137.5 137.5 EURO Buying 114 112.5 112 112.75 114.5 115.5 Selling 115.2 113.7 113.2 113.45 115.7 116.7 CANADIAN $ Buying 79.25 78.75 79 78.25 78 77 Selling 80.1 79.6 79.85 79.1 78.85 77.85 JAP YEN Buying 0.93 0.93 0.94 0.94 0.93 0.91 Selling 0.96 0.96 0.97 0.97 0.96 0.94 HK $ Buying 13.4…

GBP/USD WEEKLY OVERVIEW Pound surged up on Tuesday due to strong unexpected UK manufacturing data erupted as a result Pound rose against Dollar to a 3 year peak in April. It traded up 0.3% at $ 1.2922, less than a cent off a seven month peak versus the Dollar. On the other hand Pound steadied below seven month high verses Dollar on Wednesday, due to positive increase in construction PMI showing growth of Britain’s construction industry. Pound was 0.2% lower at $ 1.2910 and dipped about 40 ticks after Prime Minister Theresa May speech on Wednesday over Brexit issue. On…