President Donald Trump speaks during a signing ceremony in the Oval Office of the White House in Washington, Monday, July 1, 2019. Image Credit: AP Published in Gulf News on July 4th, 2019, US president tweets after Tehran vows to exceed maximum allowed uranium enrichment level Washington: US President Donald Trump warned Iran Wednesday its threats could “come back to bite” after Tehran vowed to exceed the maximum uranium enrichment level allowed by a landmark 2015 nuclear accord. “Iran has just issued a New Warning. Rouhani says that they will Enrich Uranium to ‘any amount we want’ if there…
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The detention centre for refugees and migrants that was hit by an air attack in the Libyan capital [Ismail Zitouny/Reuters] Published in AlJazeera on July 2nd, 2019, Dozens killed and scores more wounded in attack on detention centre in Tripoli suburb blamed on Haftar’s forces. Dozens of people have been killed in an air raid at a detention centre for refugees and migrants in the Libyan capital, Tripoli, according to health and emergency officials. According to the UN Support Mission in Libya, the air raid that happened overnight on Wednesday killed at least 44 people and wounded more than 130. The centre, which is…
A U.S. security heliporter flies near the border wall during the visit of U.S. President Donald Trump to Calexico, California, as seen in Mexicali, Mexico April 5, 2019. REUTERS/Carlos Jasso Published in Reuters on July 3rd, 2019, (Reuters) – A federal appeals court on Wednesday refused to lift an injunction barring the Trump administration from using $2.5 billion intended for the fight against illegal narcotics to build a wall along the southern U.S. border with Mexico. The ruling was another setback in President Donald Trump’s effort to construct a border wall, one of his top promises in the 2016…
GULF STATES: ECONOMICS & FINANCE Over 11m pieces of fine chocolate fly on Emirates every year Every year, at least 11 million pieces of gourmet chocolate are sourced from around the world to be served in Emirates’ premium cabins, in addition to a variety of chocolate desserts and treats in all classes. These sweet treats complete the Emirates fine dining experience prepared by award-winning chefs. In First and Business Class, Emirates lets its customers sample pralines and bonbons from 8 gourmet chocolatiers from 6 chocolate loving nations, the airline said in a statement. The brands were selected to give Emirates…
INDIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT Budget 2019: old wine in old bottles If you were expecting bold reforms in the maiden Budget speech of Finance Minister Nirmala Sitharaman, after the Narendra Modi-led NDA came back to power with an even greater majority, you are bound to be disappointed. The boldest step the newly anointed Finance Minister took was to completely avoid any statement on allocations in her more than two hours long Budget speech. The only allocation she mentioned in her entire speech was the Rs 70,000 crore for public sector bank recapitalisation. Beyond that, she pointed out that…
ECONOMIC TIMES OF PAKISTAN ADB accepts $235mn loan for Karachi bus rapid transit Pakistan will get a $575 million loan to build red line bus transit system in Karachi that will facilitate 300,000 commuters every day in the country’s largest metropolis. As part of the $575 million financing envelope, the Asian Development Bank (ADB) on Friday approved a $235 million loan for the bus rapid transit (BRT) system, according to an official handout issued by the local office of the Manila-based lending agency. The Asian Infrastructure Investment Bank and the Agence Française de Développement (AFD) will separately approve $100 million…
PAKISTAN NEWS: Jazz wins big at Pakistan digi awards 2019: Jazz, Pakistan’s leading digital communications company, has won two awards at the Pakistan Digi Awards over the weekend. The company won awards in the categories of Best Social Media Campaign and Best Digital Campaign for their Mega Super Duper and Super Duper Cards, respectively. The Pakistan Digi Awards came back for the third time this year – to recognize campaigns that left a mark on the Pakistani Digital marketing landscape. A Jury Panel that consisted of a mix of leaders from the Digital Marketing and Technology industry were presented with…
Global Takaful forum going to inaugurate in Turkey Takaful is new destination for sustainable financial world, says CEO of Alhuda CIBE AlHuda Centre of Islamic Banking and Economics along with its multilateral partner ICD- Islamic Corporation for the Development of the Private Sector has announced Global Takaful Forum on 26th – 28th August, 2019 in Istanbul, Turkey. The objective of the event is to provide adequate knowledge and benefits of Takaful industry to the relevant market. The platform will help analyzing the problems hindering rapid development of Takaful globally that would surely help increasing financial inclusion. It will be the…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. [ads1] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 12.17 12.67 2 – Week 12.24 12.74 1 – Month 12.34 12.84 3 – Month 12.73 12.98 6 – Month 12.88 13.13 9 – Month 12.99 13.49 1 – Year 13.14 13.64 2 – Year 13.49 13.99 3- Year 13.59 14.09
An 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] Production Of Selected Large-Scale Manufacturing In Pakistan* (during Jul – Apr) Items Weights Adjusted Weights Percentage Change Items Weights Adjusted Weights Percentage Change FY19 FY18 FY19 FY18 Textile 20.91 29.74 -0.32 0.54 Iron & Steel Products 5.39 7.67 -10.97 22.88 Cotton Yarn 12.96 18.43 0.02 0.06 Pig iron 1.58 2.25 0.00 0.00 Cotton Cloth 7.19 10.22 0.07 0.05 Billets/Ingots 1.52 2.17 -24.83 24.86 Jute Goods (Total)…
[box type=”info” align=”” class=”” width=””]Pip Roddis, University of Leeds[/box] Subsidies for onshore wind power were cut by the UK government in 2015. Then the main reasons given were that it was too expensive and that the public didn’t support it. Amber Rudd MP, then head of what was the Department of Energy and Climate Change, said in a statement to parliament: “We are reaching the limits of what is affordable and what the public is prepared to accept.” Fast-forward to 2019: onshore wind is the UK’s cheapest form of electricity, and our newly-published academic research shows that public support for…
[box type=”info” align=”” class=”” width=””]Sean Fleming Senior Writer, Formative Content This article is part of the Annual Meeting of the New Champions[/box] Plastic has transformed many aspects of daily life, from keeping food fresh to ensuring medical supplies stay sterile. But in recent years it has become public enemy number one – almost entirely because of the way it is dealt with after it has been used. Buried in landfill, it will stay there for hundreds of years. It releases toxic fumes into the atmosphere if incinerated. And far too much ends up in the world’s oceans. Stemming the tide of…
[box type=”info” align=”” class=”” width=””]Deborah Talmi, University of Manchester[/box] Do you remember your first kiss? What about your grandma dying? Chances are you do, and that’s because emotional memories are at the core of our personal life story. Some rare moments are just incredibly intense and stand out from an otherwise repetitive existence of sleeping, eating and working. That said, daily life, too, is replete with experiences that have a personal emotional significance – such as disagreeing with someone or receiving a compliment. Most of us are able to describe emotional memories in some detail, even after a long time,…
[box type=”info” align=”” class=”” width=””]Becky Alexis-Martin, Manchester Metropolitan University; James Dyke, University of Exeter; Jonathon Turnbull, University of Cambridge, and Stephanie Malin, Colorado State University[/box] The evidence of the climate crisis is now undeniable. But state responses to climate change often have social and political motivations, rather than addressing the realities of this threat. Since the 1980s, preventative action has been internationally stifled by the industrial agenda of a conservative political agenda which has maintained intensive subsidies to the fossil fuel industry. There has been a backlash against this lack of impetus in recent times by groups such as Extinction…
UIT has provided close to quarter of century outstanding service to the nation in the field of higher education in engineering and computer science. With its PEC and NCEAC accredited, NED Affiliated, and HEC recognized programmes, UIT is embarking on a journey to reach the next level of excellence. UIT aims to not only produce high class engineers and scientists, but professionals and change agents. These change agents apart from being field experts and better citizens of our beloved country, would be ready to tackle the problems that beset our country with leadership, ingenuity, and highest level of moral and…
Stocks suffer the loss of 7,832 points by end of Fy 2018-19 Summary At the end of the fiscal year June 2018-19 the KSE-100 Index was standing at its lowest close after ending the week on Friday June 28, 2019 at 33,901.58. Last fiscal on July 2, 2018 the Index was at 41,734.05, resulting with a loss of 7,832 points during the year and a decline of around 19 percent. The market during the week remained volatile as heated debate over the passing of 2019-20 budget were carried out in the parliament, which according to the Speaker was the longest…
Published in ARY News on June 27th, 2019, LOS ANGELES: Madonna stepped into the gun violence debate on Wednesday with a music video containing graphic dramatizations of a mass shooting. Called God Control, the disco beat song and video depicts a gunman opening fire in a crowded nightclub or bar and images of actors playing dancers who fall to the ground, bleeding, or try to flee. A message before the video reads, “The story you’re about to see is very disturbing. It shows graphic scenes of gun violence. But it’s happening everyday. And it has to stop.” “We need to…
The updated ‘Avengers: Endgame’ will include the deleted scene plus a new introduction by co-director Anthony Russo. Photo: Marvel Published in Dawn on June 26th, 2019, LOS ANGELES: Walt Disney said it will release a revised version of megahit Avengers: Endgame on Friday that includes a previously deleted scene, a move that could propel the Marvel superhero movie to the all-time box office record. Endgame has hauled in an estimated $2.75 billion at global box offices since its April release, just $38 million shy of 2009 sci-fi blockbuster Avatar on the list of the highest-grossing movies in history, according to website Box Office Mojo.…
Published in Dawn on June 27th, 2019, KARACHI: Singer Rahat Fateh Ali Khan was awarded an honorary degree by the Oxford University on Wednesday. The degree was also awarded to seven other personalities for their invaluable services in different fields. Mr Khan’s honorary degree was a doctorate of music. The singer was recognised by the university as a “Pakistani singer, primarily of Qawwali”, and has been accredited for more than 50 albums, over one billion views online, more than 50 title tracks of television serials and over 100 film songs in both Hollywood and Bollywood. In a statement, the…
Overseas, “Toy Story 4” picked up $120 million from 37 international territories for a global start of $238 million/ Reuters photo Published in Geo on June 24th, 2019, LOS ANGELES: Disney’s domination over the box office only seemed to strengthen this weekend as “Toy Story 4” easily topped box office charts. The fourth entry in Pixar’s animated series collected $118 million in ticket sales when it debuted in 4,575 North American theaters. While that haul is significantly below expectations, which anticipated a start near $140 million, it’s hardly a disappointment for the critically acclaimed movie. Despite glowing reviews, box…
Members of the Italian allegation celebrate after the vote [Philippe Lopez/Pool via Reuters] Published in AlJazeera on June 26th, 2019, The Italian bid was up against a joint candidacy from Sweden’s Stockholm and Are. Italy has won the rights the host the 2026 Winter Olympics following a vote by the International Olympic Committee (IOC). The joint bid by the city of Milan and the ski resort of Cortina on Monday won 47 votes, edging out the candidacy from Sweden’s Stockholm and Are, which received 34 votes at the session in Lausanne. Four other leading candidate cities – Switzerland’s Sion, Japan’s Sapporo, Austria’s Graz and…
Published in Dawn News on June 26th, 2019, Pakistan secured a crucial six-wicket victory against previously unbeaten New Zealand in the World Cup clash between the two sides at Edgbaston on Wednesday. The Green Shirts were only a run away from clinching victory against the Kiwis, with six wickets in hand, when skipper Sarfaraz Ahmed stepped onto the crease to hit the winning shot, after Haris Sohail was run out by Guptill for 68. Man-of-the-match Babar Azam was the star of the show, scoring a measured 101 off 127 balls — the first century from the side in this…
Powerade is one of the Coca-Cola company’s most popular sports drinks brands [Mike Blake/Reuters] Published in AlJazeera on June 26th, 2019, The reported $3bn joint deal has set the Olympic record for longest-running sponsorship tie-up. Olympic organisers have taken a long jump into the future of sports sponsorship with a nine-year global deal with Coca-Cola and Mengniu Dairy, China’s top milk-maker. The joint deal – reportedly worth three billion dollars according to the Financial Times- sees the two corporations on the same team, and will cover six summer and winter games. The US drinks-maker has long been associated with the Olympics, sponsoring…
(From left) Jeff O’Brien, Louise Palmer, Sean Carey, Qais Al Dhalai and Vijay Sajjanhar at the official announcement at the DSC offices, on Wednesday. Image Credit: Alaric Gomes/Gulf News Published in Gulf News on June 26th, 2019, Alaric Gomes, Chief Reporter Two of Dubai’s top club unite to form new entity where rugby is the winner Dubai: Rugby in the UAE stands to benefit following the merger of the Dubai Eagles and Arabian Knights rugby clubs. The merger of the two clubs was unveiled at the Sports Village by Vijay Sajjanhar, CFO, Dubai Sports City, in the presence of…
Aaron Wan-Bissaka played in 35 Premier League matches for Crystal Palace in the 2018-19 season Published in BBC on June 26th, 2019, By David Ornstein Manchester United have reached an agreement with Crystal Palace to sign right-back Aaron Wan-Bissaka. The deal is worth £50m and the 21-year-old England Under-21 international is set to travel for a medical imminently before going on holiday. United have offered Wan-Bissaka a long-term contract and wages of up to £80,000 a week. He is on £10,000 a week at Selhurst Park, the lowest-paid player in Palace’s first-team squad. Wan-Bissaka, who has been on international…
Growing speculation about third Trump-Kim summit Published in CNN on June 27th, 2019, By Joshua Berlinger, CNN (CNN)A top official at North Korea’s Foreign Ministry has accused South Korean President Moon Jae-in of lying about back channel talks between Pyongyang and Washington in order to manipulate public opinion, complicating efforts by Seoul to revive nuclear negotiations between the two sides. The comments, published in North Korea’s state-run news outlet KCNA Thursday, come a day after Moon said officials from Pyongyang had been talking “behind the scenes” and “engaged in dialogue in regard to a third summit.” Moon’s supposed revelation and a recent exchange of…
Democratic presidential candidates take part in the first night of the Democratic presidential debate [Joe Raedle/Getty Images/AFP] Published in AlJazeera on June 26th, 2019, The first US Democratic debate kicked off on Wednesday with 10 candidates on stage. What did they say? The first of back-to-back nights of debate took place on Wednesday with 10 of the 20 Democratic presidential candidates in the United States who qualified for the debate going head-to-head on a range of issues, including healthcare, immigration and US foreign policy towards Iran. Senators Cory Booker, Amy Klobuchar and Elizabeth Warren, Representatives Tulsi Gabbard and Tim Ryan, Washington…
Published in Reuters on June 26th, 2019, By Susan Cornwell WASHINGTON (Reuters) – The U.S. Senate on Wednesday approved a $4.6 billion bill to address the migrant surge at the border with Mexico, setting up a negotiation with the House of Representatives and President Donald Trump over the funds and how they should be spent. Trump on May 1 requested the aid for programs that house, feed, transport and oversee record numbers of Central American families seeking asylum in the United States and straining capacity at migrant shelters in border cities. The Republican president, who spoke with Democratic House…
Smoke rises during a fight between members of the Libyan internationally-recognised government forces and Haftar’s fighters in southern Tripoli [File: Yosri al-Jamal/Reuters] Published in AlJazeera on June 26th, 2019, Government of National Accord claims it has wrested Gharyan from Khalifa Haftar’s forces who say fighting is ongoing. Forces allied to Libya’s UN-recognised government say they have retaken Gharyan, a strategic town south of the capital, Tripoli, although forces loyal to renegade military commander Khalifa Haftar denied the claims. Gharyan is the main forward base for the eastern-based Libya National Army (LNA) under Haftar which has been fighting to take control of Tripoli for almost…
The United States, Britain, Saudi Arabia and the United Arab Emirates on Monday jointly called for “diplomatic solutions” to ease soaring tensions with Iran. Published in Arabian Business on June 24th, 2019, Joint statement released by the US as Secretary of State Mike Pompeo met Saudi and Emirati leaders The United States, Britain, Saudi Arabia and the United Arab Emirates have jointly called for “diplomatic solutions” to ease soaring tensions with Iran. “We call on Iran to halt any further actions which threaten regional stability, and urge diplomatic solutions to de-escalate tensions,” said the statement released by the United…
Adass said that councils across England have cut £7.7bn from adult social care budgets since 2010.(AFP/Getty Images) Published in Independent on June 26th, 2019, By Joe Gammie ‘Social workers, managers and councillors are having to make incredibly difficult decisions based on dwindling resources, which should not be allowed to happen in a modern, compassionate society’ Thousands of old and disabled people are at risk of losing vital support because long-term funding for adult social care has been neglected by successive governments, care chiefs have warned. A lack of certainty about future budgets after April 2020 could see councils having to make “incredibly difficult…
GULF STATES: ECONOMICS & FINANCE Gold prices rise on course for best month in 3-years Gold prices jumped on Friday, heading for their best month in three-years, as uncertainty loomed over whether highly anticipated trade talks between China and the United States would yield any progress in ending a year-long trade dispute. In Dubai, 22k gold is priced at Dh159.50 and 24k can be bought at Dh169.75. Spot gold was up 0.7% at $1,419.61 per ounce as of 0115 GMT. Gold has risen nearly 8.8% so far this month, on track for its biggest monthly percentage gain since June 2016.…
INDIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT G20 Summit: India, Indonesia set $50-bn trade target by 2025 India and Indonesia on Saturday set an ambitious USD 50 billion target for bilateral trade over the next six years as Prime Minister Narendra Modi and President Joko Widodo discussed ways to deepen cooperation in a number of key areas including economy, defence and maritime security. The two leaders, who are in Osaka, Japan for the G20 Summit, met in the morning and discussed ways to boost bilateral ties and enhance cooperation in trade and investment. According to Ministry of External Affairs spokesperson Raveesh…
ECONOMIC TIMES OF PAKISTAN Power division issues special instructions The Power Division has issued special instructions to all distribution companies to promote and further streamline the installation of net metering system in order to provide an opportunity to all electricity consumers to curtail their monthly electricity bills besides optimal utilisation of solar potential of the country. The instructions were issued during a meeting on the net metering system of the Central Power Purchasing Agency (CPPA). As per the latest instructions, all the distribution companies have been directed to establish a one-window facility for the electricity consumers interested in net metering.…
PAKISTAN NEWS: PTA Unveils Framework for Testing & Development of 5G Networks: Pakistan Telecommunication Authority (PTA) has unveiled the framework for testing and development of future technologies, particularly 5G wireless networks, in the country. The framework enables the use of radio spectrum on trial basis for non-commercial purposes to carry out trials for innovative use of radio frequency spectrum, apparatus/equipment and academic purposes including but not limited to scientific research, radio concepts and new systems demonstrations. [divider style=”normal” top=”20″ bottom=”20″] Facebook and Google Join Hands to Create New Benchmarks for AI: A consortium of 40 tech companies, including Facebook and…
Haleeb foods celebrates world milk day with SOS village Lahore Haleeb Foods one of the leading food and beverages company of Pakistan celebrated World Milk Day with SOS Village Lahore. This celebration aimed to recognize the significance of Milk nutrition in daily lives. Under this initiative Haleeb Foods distributed packs of its most nutritious and deliciously flavored milk FLAVA among the children of SOS Village, Lahore. Haleeb Foods also conducted an awareness session to highlight the health benefits of Milk, which promises valuable energy and vitality for the children. Being a rich source of calcium, it is essential for the…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. [ads1] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 12.27 12.77 2 – Week 12.32 12.82 1 – Month 12.37 12.87 3 – Month 12.72 12.97 6 – Month 12.86 13.11 9 – Month 12.97 13.47 1 – Year 13.13 13.63 2 – Year 13.46 13.96 3- Year 13.57 14.07
[box type=”info” align=”” class=”” width=””]Frances Balkwill Centre Lead, Centre for Cancer and Inflammation, European Research Council grantee, Queen Mary University of London This article is part of the Annual Meeting of the New Champions[/box] Inflammation is the body’s first line of defence against insult. Without inflammation, most of us would not make it past the first year of life. This rapid reaction force fights infections, heals wounds and helps our more sophisticated adaptive immune system generate a longer-lasting specific response. But there is a downside to this powerful response; sometimes inflammation fails to resolve. Indeed, chronic and often low-level inflammation underlies…
[box type=”info” align=”” class=”” width=””]Juliana Chan Chief Executive Officer, Wildtype Media Group Benjamin Seet Executive Director, Biomedical Research Council, Agency for Science, Technology and Research, Singapore This article is part of the Annual Meeting of the New Champions[/box] The study of evolution allows us to reconstruct the past and to understand how life evolved from simple to complex organisms. Evolutionary reasoning can help us make sense of the biggest questions in science, from the origin of the universe to the inner workings of the human brain. But can evolution also give us a hint of what is to come? Will technologies…
[box type=”info” align=”” class=”” width=””]Pascale Fung Professor of Electronic and Computer Engineering, Hong Kong University of Science and Technology This article is part of the Annual Meeting of the New Champions[/box] “Sorry, I don’t know that one.” Alexa, Cortana, even the automated announcements on public transport – they all have one thing in common: a female voice or female avatar. I have been working on dialogue systems since the first generation of projects from the early 1990s. By the end of that decade, many American call centres were answered by robot “assistants” who would cheerfully greet customers with “How may I…
KSE-100 index loses 448 points over budget noise in the parliament Summary Gradually but consistently the inexperienced government of PTI has presented its full year budget 2019-20 last week. This week discussion on the budget was carried on in Parliament by the opposition and government. Accordingly, different aspects were highlighted both negative and positive which led to turmoil in the market affecting the KSE-100 Index which declined 1.26% WoW. Investors are keen to see the passing of the Budget with all the deletions and additions to it so that the country could walk on its economic journey with clear economic…
The fourth reactor in the Soviet plant north of Kiev exploded during a botched safety test, releasing more radiation into the Earth’s atmosphere than any other man-made event in history. Photo: HBO Published in Geo on June 20th, 2019, CHERNOBYL: Critics and viewers on both sides of the Atlantic have lined up to acclaim Chernobyl, a dramatization of events surrounding the world’s worst nuclear accident — but the reactions of some of the survivors are less rose-tinted. Sergii Parashyn, the then chairman of the Chernobyl Nuclear Power Plant’s Communist Party Committee, said the HBO mini-series, screened this spring in the…
Published in MSN on June 20th, 2019, Angelina Jolie is about to add the title of contributing editor to her resume. Edward Felsenthal, editor-in-chief and CEO of Time, announced on Wednesday that the actress has joined the publication as a contributing editor. She will write on a variety of topics with a focus on displacement, conflict and human rights on a global scale. Jolie’s writing for the publication will draw on her 18 years of experience of working for the UN Refugee Agency. In addition to being a successful actress, Jolie is the Special Envoy of the United Nations High Commissioner…
All eight films in the Harry Potter series were shot at the facility near Watford Published in BBC on June 20th, 2019, A man has been arrested at Warner Brothers Studios in Leavesden after an alleged incident that left another man taken to hospital with a neck injury. A spokesperson for Hertfordshire Constabulary said the unnamed man was “arrested on suspicion of wounding with intent to do grievous bodily harm”. According to The Mirror, the incident occurred on the set of a new film version of Roald Dahl’s The Witches. Leavesden was where the eight films in the Harry…
Published in Yahoo on June 19th, 2019, By James McClain, Variety In a somewhat surprising move, President Donald Trump has sold his longtime Beverly Hills estate, reportedly his last remaining West Coast residential outpost, for $13.5 million in a hush-hush deal that closed off-market. That transaction price is nearly double the $7 million Trump originally paid for the property, which was rarely used in the twelve years following his February 2007 purchase. (For the record, the house was technically owned by an offshoot of the Trump Org, the investment conglomerate controlled by Don Jr. & Eric Trump ever since their father’s…
Toy Story 4 is released in the UK on 21 June Published in BBC on June 20th, 2019, By Jill Treanor, Business reporter, BBC News When Buzz, Woody and Jessie return to our screens on Friday with the release of Toy Story 4, it’s not just cinemas that will be hoping for queues at their doors. Retailers also hope the sequel will get their tills ringing too. Why? Nine years ago, when Toy Story 3 was released, sales of toys, T-shirts and other merchandise in the UK were greater than takings at the box office. The Buzz figure is…
Published in Dawn on June 20th, 2019, LONDON: Lost revenues from a record number of rain-hit ICC Cricket World Cup games in England and Wales may result in insurance claims of a few million pounds for each abandoned fixture, insurance sources say. Broadcasters, organisers, venues, advertising sponsors and catering establishments are among firms to have missed out after four matches were called off in an exceptionally rainy June. Due to the hectic nature of the tournament, which features 48 one-day matches between May and July, finishing on July 14, there is no opportunity to reschedule, except for the semi-finals…
Ex-UEFA chief Michel Platini talks to the media before leaving the Central Office for Combating Corruption and Financial and Tax Crimes after being arrested in connection with a criminal investigation into the award of the 2022 World Cup to Qatar, in Nanterre, west of Paris in the early hours of June 19, 2019. Image Credit: AFP Published in Gulf News on June 19th, 2019, French football legend denies wrongdoing in bidding process for 2022 tournament Nanterre, France: The banned ex-UEFA chief Michel Platini was released from custody on Wednesday after hours of questioning in connection with a criminal investigation…
Adidas needed to show the mark had acquired a ‘distinctive character’ throughout the European Union [Getty Images] Published in AlJazeera on June 19th, 2019, ‘The mark is not a pattern mark … but an ordinary figurative mark,’ the court said. The European Union’s second-highest court ruled on Wednesday that Adidas’s three-stripe branding was invalid as a trademark as it lacked a distinctive character. The General Court of the European Union said it upheld a decision of the European Intellectual Property Office (EUIPO) in 2016 to annul a previous decision to accept the mark. The German sports goods company registered the…
Published in Gulf News on June 19th, 2019, Eight leading players will be seen in action in Zayed Sports City events Abu Dhabi: The 12th Mubadala World Tennis Championship is swapping ‘new balls please’ for ‘new dates please’ with the exhibition tournament now being staged one week earlier than its traditional slot at Zayed Sports City in December. Tournament owner Flash Entertainment has announced the event will be staged from December 19 to 21 with the change in date expected to increase the number of tennis fans heading into the festive season. Six male and two female players, who…
Bootlegged feeds from Doha-based beIN Sports of top football games have been broadcast by Saudi-based BeoutQ since 2017 [Maja Hitij/Getty Images] Published in AlJazeera on June 16th, 2019, Saudi authorities declared beIN illegal in the kingdom, a proxy battle in the nation’s boycott of Qatar two years ago. FIFA has asked a Saudi-backed satellite broadcaster to stop transmitting pirated feeds of Women’s World Cup games from a Qatari network. Bootlegged feeds from Doha-based beIN Sports of top football games have been broadcast by Saudi-based BeoutQ since 2017. FIFA, which sells the exclusive rights to beIN, on Sunday called out Arabsat for distributing BeoutQ. “FIFA…
Published in Dawn on June 20th, 2019, By Naveed Siddiqui India has responded positively to Pakistan’s offer for talks, a source in the Foreign Office (FO) said on Thursday. This was communicated in letters by Indian Prime Minister Narendra Modi and External Affairs Minister Subrahmanyam Jaishankar to their Pakistani counterparts. Earlier this month, Prime Minister Imran Khan, in a letter written to felicitate Modi on assuming office for a second term, had renewed Pakistan’s offer to hold dialogue with India to resolve contentious issues, including the Jammu and Kashmir dispute and terrorism, to restore peace in the region, and address the…
FILE PHOTO: Migrants from Central America form a human chain to cross the Rio Bravo river to enter illegally into the United States and turn themselves in to request asylum in El Paso, Texas, as seen from Ciudad Juarez, Mexico, June 11, 2019. REUTERS/Jose Luis Gonzalez/File Photo Published in Reuters on June 19th, 2019, By Tom Hals (Reuters) – U.S. immigration authorities want to deport recently arrived families who are in the United States illegally to discourage the surging numbers of Central Americans arriving from Mexico, a government official leading the effort said on Wednesday. U.S. Immigration and Customs Enforcement…
The Guard said it downed a Global Hawk surveillance drone but the US denied it [AP] Published in AlJazeera on June 19th, 2019, Guard says US aircraft brought down in its airspace, but US official says drone was flying in international territory. Iran’s elite Revolutionary Guard force said Thursday it shot down a US “spy drone” over its territory, Iranian state television reported. An anonymous US official later told news agencies an American naval drone was downed over international airspace. “The US-made Global Hawk surveillance drone was brought down” in the country’s southern coastal province of Hormozgan, the Revolutionary…
On June 13, two tankers were hit in the Gulf of Oman. This came a month after a similar incident in which four tankers in the region were struck. Neither ship sank and crew were evacuated safely Video Credit: Gulf News with AFP video Published in Gulf News on June 19th, 2019, Attack came against backdrop of heightened US-Iran tensions Dubai – The limpet mines used to attack a Japanese-owned oil tanker near the Strait of Hormuz last week bore “a striking resemblance” to similar mines displayed by Iran, a US Navy explosives expert said Wednesday, stopping short of…
Adel al-Jubeir, Saudi minister of state for foreign affairs Published in Arabian Business on June 19th, 2019, Adel al-Jubeir, Saudi minister of state for foreign affairs, criticises new UN report on death of journalist Jamal Khashoggi A Saudi minister on Wednesday slammed as “unfounded” a UN expert report calling for those involved in the murder of journalist Jamal Khashoggi to be held accountable. “It is not new. The (UN) report reiterates what has already been published and circulated in the media,” Adel al-Jubeir, Saudi minister of state for foreign affairs, said on Twitter. “The report… contains clear contradictions and…
Published in AlJazeera on June 19th, 2019, Xi is the first Chinese leader to visit the reclusive country in 14 years amid renewed tension on the Korean Peninsula. Chinese President Xi Jinping has arrived in North Korea on a two-day state visit and is set to hold talks with North Korean leader Kim Jong Un. Xi is the first Chinese leader to visit the reclusive country in 14 years and could bring fresh support measures for its floundering, sanctions-bound economy. “This visit is all about timing, as you know just over a week from now President Xi will be sitting down with US President…
GULF STATES- ECONOMICS & FINANCE No suspension of Etihad Airways flights over iran-controlled airspace Etihad Airways is carefully monitoring the situation, following the emergency order on Thursday by US Federal Aviation Administration (USFAA) prohibiting US operators from flying in Iran-controlled airspace over the Strait of Hormuz and Gulf of Oman. “Contingency plans are in place, and we will decide what further action is required after carefully evaluating the FAA directive to US carriers, an Etihad spokesperson told on Friday. “We are working closely with the UAE General Civil Aviation Authority,” the airline added. The downing of the unarmed Global Hawk…
INDIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT PUBG LITE pre-registration event starts in India The lighter version of the Battle Royale game PUBG has opened up for registration. PUBG wants to expand in India and tap a large section of the population that do not have high-end gaming PCs. As the name PUBG Lite suggests, the game is built to cater to people who do not have access to expensive gaming hardware. PUBG Lite is already available in 15 countries, the majority of them being in Asia. PUBGs mobile version has contributed to the success of the game in India. With…
ECONOMIC TIMES OF PAKISTAN Gold price touches fresh peak at pkr 78,100 per tola The price of gold surged and touched a historic high at Rs78,100 per tola (11.66 grams) on Friday, following a surge in prices of the precious metal to a six-year high in the international market due to escalation in tensions between the US and Iran. All Sindh Saraf and Jewellers Association (ASSJA) announced an increase of Rs800 per tola after gold price shot up $13 to $1,394 per ounce in the London market on Friday. “Jewellers have not only passed the increase in international gold prices…
PAKISTAN NEWS: If You Use Firefox You’ll Need to Update it Right Now: If you are using Mozilla’s Firefox web browser on PC, you should update it to the latest version right now. Mozilla has released security updates Firefox 67.0.3 and Firefox ESR 60.7.1 to fix a critical bug that hackers could exploit to take control of your PC.”A type confusion vulnerability can occur when manipulating JavaScript objects due to issues in Array.pop. This can allow for an exploitable crash. We are aware of targeted attacks in the wild abusing this flaw,” says Mozilla. [divider style=”normal” top=”20″ bottom=”20″] FDI in IT…
UIT holds Pakistan developers conference 2019 Usman Institute of Technology (UIT) affiliated with NED University of Engineering & Technology, recently held the ‘Pakistan Developers Conference 2019’ at UIT, Karachi. The conference featured keynotes, tech talks and panel discussions on a wide range of topics encompassing disruptive technologies, digital transformation and industry 4.0 challenges within Pakistan’s local tech ecosystem. The exhibition was attended by Javed Edhi, Group Head & CIO, Silkbank Limited, Iqbal Yoursuf Sheikh, CEO, Country Head, Aptech Education, M Kamran, Founder, DevnCode, Kanwal Masroor, Founder, TECH Pakistan Disrupt, Kh. Tanveer Saleem, CIO, Shan Foods, Khushnood Aftab, CEO, Viper Technolgies…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. [ads1] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 12.26 12.76 2 – Week 12.27 12.77 1 – Month 12.21 12.81 3 – Month 12.68 12.93 6 – Month 12.81 13.06 9 – Month 12.93 13.43 1 – Year 13.10 13.60 2 – Year 13.39 13.89 3- Year 13.51 14.01
[box type=”info” align=”” class=”” width=””]Filippo Grandi United Nations High Commissioner for Refugees (UNHCR)[/box] The scale of a humanitarian crisis is often expressed in statistics, but it is better measured in the lives and fates of real people. Real people like Darlys, a Venezuelan mother of a seven-year-old boy with severe kidney disease, who escaped the economic hardship and insecurity of her home country in search of medical help, only to end up on the streets of the Colombian city of Maicao. Or Betty, who fled South Sudan with her four children and two of her nieces to Bidi Bidi refugee…
[box type=”info” align=”” class=”” width=””]Patricia Shaw, Aberystwyth University[/box] It’s likely that before too long, robots will be in the home to care for older people and help them live independently. To do that, they’ll need to learn how to do all the little jobs that we might be able to do without thinking. Many modern AI systems are trained to perform specific tasks by analysing thousands of annotated images of the action being performed. While these techniques are helping to solve increasingly complex problems, they still focus on very specific tasks and require lots of time and processing power to…
[box type=”info” align=”” class=”” width=””]Wei Zhu Chairman, Accenture Greater China This article is part of the Annual Meeting of the New Champions[/box] Artificial intelligence (AI) is arguably the most disruptive technology of the information age. It stands to fundamentally transform society and the economy, changing the way people work and live. The rise of AI could have a more profound impact on humans than electricity. But what will the new relationship between humans and intelligent machines look like? And how can we mitigate the potential negative consequences of AI? How should companies forge a new corporate social contract amid the changing relationship…
[box type=”info” align=”” class=”” width=””]Rebecca Willis, Lancaster University[/box] As the climate crisis is increasingly felt across the globe, protesters take to the streets and politicians scrabble to respond, a crucial question is beginning to emerge. How can governments develop climate strategies which build public support for action? An announcement by six UK parliamentary committees that they will hold a citizens’ assembly on the climate emergency is a crucial step toward answering that question. There are no shortage of prescriptions for climate action. From economists calling for an economy-wide carbon tax, to scientists advocating “earth system governance” at the planetary level,…
[box type=”info” align=”” class=”” width=””]Andy Ho CEO, Philips Greater China This article is part of the Annual Meeting of the New Champions[/box] With an ageing population rapidly increasing the rate of disease, China’s healthcare system is ripe for innovation. From established corporations to fledgling startups, all recognize the potential for digital technologies, such as telehealth and artificial intelligence, to alleviate China’s overstretched healthcare professionals and help provide better care. In fact, the 2019 Future Health Index from Philips, which surveyed healthcare professionals in 15 countries around the world, shows that China is leading the way in adoption of digital health technology. However, global health…
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Jun 17, 2019[/box] As meat consumption is increasingly scrutinized for ethical reasons and its possible environmental impact, plant-based alternatives to meat are poised to be more than just a flash in the pan. Following the strong IPO of alternative meat maker Beyond Meat, which saw its share price more than double on its first trading day in early May, analysts at Barclays are predicting that the global market for animal-free meat substitutes could grow more than tenfold over the next decade and potentially reach $140 billion by 2029. “Although today we believe that there are inherent…
[box type=”info” align=”” class=”” width=””]by Martin Armstrong, Jun 17, 2019[/box] Currently, there are an estimated 13,890 nuclear warheads in the hands of just nine countries. At the top of the list, as compiled by the Federation Of American Scientists (FAS), are of course Russia and the U.S.With a combined arsenal of close to 13,000, this particular hangover from the Cold War is still plain to see. Up to now the two have been undergoing programmes of disarmament – of this 12,685, over 4,555 are officially retired and awaiting dismantlement – but currently still intact. [ads1] You will find more infographics at Statista
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Jun 18, 2019[/box] Even though it feels like Americans have an insatiable thirst for online shopping, the U.S. certainly isn’t the worst offender when it comes to the number of packages people order every year. Spiegel Online recently published some key findings from a McKinsey report on B2C ecommerce trends across 17 countries which focused on the volume of parcels being dispatched. It found that on average, someone in the U.S. receives 21 parcels each year, far behind China where a person gets 70 or more on average. It must be pointed out, however, that the research only…
[box type=”info” align=”” class=”” width=””]by Niall McCarthy, Jun 17, 2019[/box] The European Commission has published its 2019 European Innovation Scoreboard today which shows that the EU’s innovation performance has been improving for four years in a row. The scoreboard places EU countries into four innovation categories – innovation leaders, strong innovators, moderate innovators and modest innovators. With a score of 147.74. Sweden has been named the EU’s innovation leader, followed by Finland, Denmark and the Netherlands. Bulgaria and Romania had the lowest scores with 48.72 and 34.13 respectively. On average, the EU’s innovation performance has increased 8.8 percent since 2011 and at global level, it…
Stocks gain 68 points in post budget announcement Summary: The working of the week under review was affected by the announcement of Budget on 11th June evening while a day earlier Economic Survey painted a dismal picture of economy as growth slows to 3.3 percent. The first day of stock exchange, Monday included all the negative aspects of economy and budget and stocks shed 938 points on tax concerns. Onwards, rest of the week there was a positive rally in the market and finally the stocks gained 68 points to close at 35,572.95 on Friday recovering all the lost points…
Pakistan Cricket Board Chairman Ehsan Mani said on Thursday that international cricket will return to Pakistan later this year when the country will be hosting matches for the Asian test championship against Sri Lanka in September and Bangladesh in January/February next year. “This is very good news for Pakistan cricket and it will herald the resumption of international cricket in Pakistan,” he said while taking to media at Lahore’s Gaddafi Stadium. Mani said the ICC test championship is spanned over two years and will end in year 2021. “We will host the Sri Lankan team for two test matches…
Mendy has won three caps for France Published in BBC on June 12th, 2019, Real Madrid have signed left-back Ferland Mendy from Lyon in a deal worth up to £47.1m, which takes their summer spending close to £300m. The French International, 24, has signed a six-year deal at the Bernabeu. The club have already signed Belgium forward Eden Hazard from Chelsea for a fee that could exceed £150m and Serbia striker Luka Jovic from Eintracht Frankfurt for a reported £53m. In March, they signed Porto defender Eder Militao for £42.7m. [ads1] Another arrival this summer will be Brazil forward Rodrygo, 18, who Real signed…
Alexander Steen took his turn hoisting the Stanley Cup on Wednesday after the Blues beat the Bruins. St. Louis had the league’s worst record on Jan. 3 and had never won a finals game before this year.Credit Credit Winslow Townson/USA Today Sports, via Reuters Published in The New York Times on June 12th, 2019, By Ben Shpigel BOSTON — When their proximity to the inconceivable can be measured in months or years instead of mere days or weeks, the members of the St. Louis Blues will reflect upon one of the most extraordinary moments of not only their lives, or…
India’s Devendra Jhajharia competes in the men’s javelin throw F46 final of the Paralympic Games in Rio in 2016. Image Credit: AP Published in Gulf News on June 11th, 2019, By Alaric Gomes, Chief Reporter Jhajharia, Khamis and Dumapong-Ancheta embody the best Asia has to offer Dubai: It is that time in the four-year cycle when athletes all across the globe commence the business-end of their preparations for the Olympics. Thousands will converge in Tokyo next year for the back-to-back Summer Olympic and Paralympic Games between July 24 and September 6. A handful of Paralympic’s best sporting stars have…
Captain Emre Belezoglu slammed Icelandic authorities after the team was searched ‘from head to toe’ [Anadolu] Published in AlJazeera on June 10th, 2019, by Umut Uras Ankara issues diplomatic protest over treatment of team who were reportedly searched for three hours by airport police. Turkey denounced immigration authorities in Iceland on Monday for their treatment of the Turkish national football team after they arrived at Keflavik International Airport for an upcoming competition. According to a senior Turkish foreign ministry official, a diplomatic protest was filed with Iceland over the incident. “The note was issued [to Iceland] by our embassy in Oslo,” the official told…
The Pakistan Bar Council (PBC) in its general body meeting on Wednesday declared that the filing of references against two superior court judges smacked of the government’s mala fide intention. — Photo courtesy Supreme Court website/File Published in Dawn on June 13th, 2019, By Nasir Iqbal ISLAMABAD: The Pakistan Bar Council (PBC) in its general body meeting on Wednesday declared that the filing of references against two superior court judges smacked of the government’s mala fide intention and expressed the hope that the Supreme Judicial Council (SJC) would not become party to such designs of the government. “The manner and haste…
Erdogan vowed to seek answers on his country’s ‘exclusion from F-35 project for reasons that have no rational basis’ [EPA-EFE/STR] Published in AlJazeera on June 12th, 2019, The Turkish leader says he will speak to President Trump, as Washington threatens to cut Ankara from F-35 programme. Turkey has already purchased S-400 defence systems from Russia and hopes they will be delivered in July, Turkish President Recep Tayyip Erdogan said on Wednesday, an announcement likely to ratchet up tensions with NATO ally Washington. Turkey and the United States have sparred publicly for months over Ankara’s order for the S-400s, which are not compatible with NATO’s systems. “Turkey…
President Trump’s comments put him at odds with his own F.B.I. director, Christopher S. Wray, who has said politicians in such circumstances should call his agency.CreditCreditDoug Mills/The New York Times Published in The New York Times on June 12th, 2019, By Peter Baker WASHINGTON — President Trump said on Wednesday that there would be nothing wrong with accepting incriminating information about an election opponent from Russia or other foreign governments and that he saw no reason to call the F.B.I. if it were to happen again. “It’s not an interference,” he said in an interview with ABC News, describing it as…
People walk on a street full of debris a day after a demonstration against a controversial extradition bill [Anthony Wallace/AFP] Published in AlJazeera on June 13th, 2019, Hong Kong leader slams protesters for ‘blatant riot’ as authorities insist they will push ahead with extradition bill. The authorities in Hong Kong on Thursday closed government offices in the heart of the city after mass protests against a controversial extradition bill that would allow the extradition of people to mainland China. The embattled leader of the semi-autonomous Chinese territory has described the protests as politically motivated “riots” and condemned protesters who resorted to “dangerous and life-threatening…
R. Clarke Cooper, an assistant secretary of state, said that if the United States stopped providing the Saudis with arms, competitors like Russia and China would fill the void.CreditCreditTom Brenner for The New York Times Published in The New York Times on June 12th, 2019, By Catie Edmondson and Edward Wong WASHINGTON — A senior State Department official on Wednesday defended the Trump administration’s use of an emergency declaration to push through arms sales to Saudi Arabia and the United Arab Emirates, telling a hostile House committee that holding back the weapons would have offered an opening to commercial rivals in China and…
GULF STATES| ECONOMICS & FINANCE UAE expats say Pakistan budget is balanced but unexciting Pakistani expatriates in the UAE feel that overseas community has been left out of the Imran Khan-led government’s first budget as no incentives or tax rebates were offered. But the business community termed it a balanced budget with focus on fixing gaps and austerity measures. Residents and business community members said that akin to the previous government, the current PTI government failed to offer any incentives to overseas Pakistanis. Iqbal Dawood, president of the Pakistan Business Council, Dubai, said there is no particular incentives for overseas…
INDIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT Unsold houses at all-time high of 12.76 lakhs Over 12.76 lakh houses are lying unsold in India’s top 30 cities, compounding the problems of the real estate sector already grappling with a severe liquidity crunch as non-banking finance companies (NBFCs) have curtailed lending to developers following the collapse of IL&FS last year. The inventory overhang is as high as 80 months in Kochi, 59 months in Jaipur, 55 months in Lucknow and 72 months in Chennai, implying it will take between five and seven years for developers in these cities to get rid of…
ECONOMIC TIMES OF PAKISTAN Finance adviser says 0-rated regime intact for exporters The government faces a mammoth challenge by way of bringing the economy back on track. A key priority in its agenda to push the country towards economic growth is addressing the twin deficits; fiscal and current account. Although it has considerably devalued the rupee against the US dollar, the level of exports has failed to rise. Despite this development, the government is not ready to concede to the demands of the five zero-rated sectors to provide them complete relief by restoring SRO 1125 and withdrawing the imposition of…
PAKISTAN NEWS: LG Launches the World’s First 1ms Response Time IPS Monitor: At E3 2019, LG unveiled the world’s first ever IPS gaming monitor with a response time of only 1ms. These monitors are available in 27-inch and 36-inch sizes, and both the variants have extremely thin bezels. This is significant as IPS technology usually means that monitors have a high response time (around 3-5ms or higher) and they’re normally used for non-competitive gaming. With a low response time of 1ms, these monitors will not only have vivid colors and great viewing angles, but they will also be ideal for…
Strict implementation on Axle load control being ensured Federal Secretary for Communications Mr. Shoaib Ahmad Siddiqui presided over a high level meeting at National Highway Authority regional office Karachi where in matters relating to implementation of Axle Load control on Motorways and National Highways were reviewed in detail. NHA’s Member South Zone Syed Shabbir Ali Shah, General Manager Sindh-South Mr. Sami-ur-Rehman, DIG Motorway Police Mr. Saleem Ahmed, FWO representative Col. Mussarat Awan and representatives of Transport organizations in Sindh participated in the meeting. On this occasion Mr. Shoaib Ahmad Siddiqui said, transport sector is playing vital role in development of…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. [ads1] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 12.22 12.72 2 – Week 12.25 12.75 1 – Month 12.31 12.81 3 – Month 12.60 12.85 6 – Month 12.70 12.95 9 – Month 12.80 13.30 1 – Year 12.93 13.43 2 – Year 13.13 13.63 3- Year 13.28 13.78
[box type=”info” align=”” class=”” width=””]This article is published in collaboration with IMF Blog[/box] People are concerned that the rising power of big successful companies could lower capital investment, weaken productivity, and reduce people’s take-home pay. While rising corporate market power has had a fairly limited negative economic impact so far, if left unchecked, it could take a bigger toll on growth and people’s income. Our Chart of the Week from the April World Economic Outlook analyzes nearly 1 million companies from 27 advanced and emerging market economies since the early 2000s and shows that firms’ average price markup—the ratio of a company’s…