Eurozone stocks drop before ECB update Eurozone stock markets fell at the open Thursday with all eyes on the outcome of the European Central Bank’s latest monetary policy meeting. Frankfurt’s DAX index dropped 0.6 percent to 14,359.69 points and the Paris CAC 40 lost 0.5 percent to 6,418.03. The euro steadied against the dollar and pound. The ECB is Thursday expected to announce the end date to its bond-buying stimulus, as concerns over the accelerating pace of inflation in the eurozone grip policymakers. The stop is a prelude to the ECB hiking interest rates for the first time in more…
Author: S. Kamal Hayder Kazmi
India’s economy: torn between chaos, confusion and control India’s economy is facing major challenges and stress in the post covid world. Although there are apologists of the economy that carp on its revival, and there are some improvements to the economy, the general consensus is that India’s economy has not yet recovered to pre-covid levels. In fact, the RBI in a recent article stated that it could take India as long as 12 years to recover to its pre-covid levels of economic growth and stability. Combined with economic indicators that show unemployment at around 9 per, youth unemployment at over…
Navigating decarbonisation – contractual considerations With mounting global efforts to combat climate change, the shipping and offshore sectors are subject to ever-increasing scrutiny and regulatory intervention. Reed Smith shipping partner Nick Austin and associate Eleni Pilaviou highlight the significant challenges of decarbonisation for shipowners and operators. To meet IMO’s target of reducing carbon emissions by at least 50 percent by 2050, the Energy Efficiency Existing Ship index (‘EEXI’, which effectively measures emissions per cargo ton mile) and the Carbon Intensity Indicator (‘CII’, a rating from A to E for operational carbon intensity) will need to be regularly calculated and verified…
Iron ore price rises despite flat demand from steelmakers The iron ore price rose on Tuesday despite traders fretting about high prices squeezing steel mill margins after Chinese demand for the steelmaking ingredient spurred an earlier rally. Benchmark 62 percent Fe fines imported into Northern China rose 1.2 percent Tuesday morning, to $146.30 per tonne. The most-traded September iron ore contract on China’s Dalian Commodity Exchange ended daytime trading 0.6 percent lower at 928.50 yuan ($139.32) a tonne, after hitting a 10-week high on Monday. Top steel producer China’s moves to ease covid-19 restrictions added fuel to the rally, as…
Social Innovation: The Lab Without Wall Steinmetz’s technology-driven science is anathema to many academic scientists. Steinmetz’s innovation also led to the “lab without walls,” which is America’s specific, and major, contribution to very large scientific and technological programs. The first of these, conceived and managed by President Franklin D. Roosevelt’s former law partner, Basil O’Connor, was the National Foundation for Infantile Paralysis (March of Dimes), which tackled polio in the early 1930s. This project continued for more than twenty-five years and brought together in a planned, step-by-step effort a large number of scientists from half a dozen disciplines, in a…
The Experts in the World Bank recorded that the rising food and energy inflation in Pakistan is predicted to diminish the real purchasing power of households, disproportionately affecting poor and vulnerable households that spend a larger share of their budget on these items. According to the Pakistan Bureau of Statistics (PBS), the CPI inflation General, grew by 13.4 percent on year-on-year basis in April 2022 as against to a rise of 12.7 percent in the last month and 11.1 percent in April 2021. On month-on-month basis, it grew by 1.6 percent in April 2022 as against to rise of 0.8…
Developing countries face lower tax collection as compared to target amount due to inefficiencies in tax collection system. Due to some major problems like political backwardness, poor economic development, undefined taxation policies and inappropriate institutional capacity, Pakistan is still not successful to implement an efficient taxation system. Sources recorded that tax reform is a policy implementation through the government through which a few alterations are made to the tax system in order to overcome the loopholes and enhance the effectiveness of the tax administration in the country in order to generate higher revenues from taxes as compared to overall spending.…
Leading Consumer Brands In Pakistan Pepsi Coca-Cola Mountain Dew 7-Up Sprite Nestle Juice Shezan Juice Mirinda Sooper Bakeri Chocolate Chip Prince Peanut/ Pista Pik Rio Zeera Plus Gluco Mayfair Cafe Tiger TUC Marrie Dawlance LG National Sony Pel Philips Waves Haier Super Asia General Singer Nestle Milkpak Haleeb Everyday Olper’s Tarang Nido Good Milk Nurpur Nokia Samsung Blackberry LG Sony Ericsson Motorola Ufone Mobilink Telenor Warid Zong Lays Kolson Slanty Kurkure Kurleez Super Crisp Bake Parlor Cheetos Fry O Sunsilk Head & Shoulders Pantene Bio Amla Dove Lifebuoy Lux Safeguard Lifebuoy Capri Dettol Tibet Palmolive Opal Dove Lipton Tapal Brooke…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan: Currency Rate As Per Open Market ( May 25 2022) Currency Symbol Buying Selling Australian Dollar AUD 142.38 143.63 Bahrain Dinar BHD 534.83 539.33 Canadian Dollar CAD 154 156 China Yuan CNY 23.5 23.7 Danish Krone DKK 29.04 29.39 Euro EUR 213 216 Hong Kong Dollar…
France stocks higher at close of trade; cac 40 up 0.73pc France stocks were higher after the close on Wednesday, as gains in the Oil & Gas, Basic Materials and Utilities sectors led shares higher. At the close in Paris, the CAC 40 added 0.73 percent, while the SBF 120 index gained 0.73 percent. Rising stocks outnumbered declining ones on the Paris Stock Exchange by 284 to 240 and 109 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was unchanged 0.00 percent to 18.96 a new 52-week high. Sensex up 503 pts Domestic…
Nepal’s financial sector doing well in post-pandemic economy The Two-year-long Covid-19 pandemic hammered the economy and pushed many companies to the edge of bankruptcy, but Nepal’s financial sector has rebounded quickly and remained sound and resilient, the latest central bank report says. According to the Financial Stability Report released on Thursday by Nepal Rastra Bank, profitability of the banking sector rose by 21.01 percent to Rs71.30 billion in the last fiscal year ended mid-July 2021. In the previous fiscal year, profitability had declined by 20.61 percent. Net profits of commercial banks grew by 16.60 percent to Rs63.37 billion in the…
Carbon capture could be of interest to the maritime industry The nascent industry of carbon storage and utilization could be of interest to shipping, when it comes to its decarbonization effots. In its latest weekly report, shipbroker noted that “we have seen India and Pakistan suffering the last days from extreme spring heatwaves. It is, indeed, a wake-up call to the international as well as the shipping community. Extreme climate events are going to continue and will only increase in rate and intensity unless immediate actions occur. The Intergovernmental Panel on Climate Change (IPCC) presented four scenarios for reducing the…
CS Brazil H1 may sugar production expected to drop 30pc on year Sugar production in the key Center-South Brazil region is expected to total 1,67 million mt in the first half of May, a decrease of 30.1 percent on the year, an S&P Global Commodity Insights survey of 11 analysts showed May 20. Of the analysts surveyed, the cane crush estimate ranged from 33.3 million mt to 38.5 million mt. The average estimate was for a total cane crush of 35.6 million mt, a 14.1 percent drop on the year. Weather in the Center-South was favorable for crushing during H1…
Tunnel-Vision Innovation Often a prescription drug designed for a specific ailment sometimes ends up being used for some other quite different ailment. When a new venture does succeed, more often than not it is in a market other than the one it was originally intended to serve, with products or services not quite those with which it had set out, bought in large part by customers it did not even think of when it started, and used for a host of purposes besides the ones for which the products were first designed. If a new venture does not anticipate this,…
International experts recorded that the global insurance market operates in the larger macroeconomic environment and is subject to an environment where interest rates remain low over the long term. Such a low-for-long environment may not only directly hurt the profitability and solvency of insurers, but also raise the probability of a reassessment of risk premia (spreads), resulting in an abrupt spike in interest rates. The interest rate risk to which an insurer is exposed is connected to its asset-liability mismatch risk, mainly in companies offering long-term guaranteed rates on their products. The impact on the insurance industry was noticeable: in…
Analysis of economic survey of Pakistan FY 2021 showed that the economy of Pakistan rebounded strongly in FY2021 and recorded growth of 3.94 percent which is not only substantially higher than the previous two years (-0.47 and 2.08 percent in FY2020 and FY2019 respectively) but also surpassed the target (2.1 percent for FY2021). Despite strict fiscal constraints, the economists of Pakistan also recorded that timely and appropriate policy initiatives taken through the government resulted in a V-Shaped economic recovery. Start of 2021, amid worldwide vaccination campaigns, the global economy started showing healthy signs of recovery, however, third wave of the…
Top 10 Costliest World Natural Disasters By Insured Losses, 2021 (US$ billions) Rank Date Country/region Event Insured loss 1 Aug. 27-Sep. 2 U.S., Caribbean Hurricane Ida $36.00 2 Feb. 2-20 U.S., Mexico Winter weather (freeze) 15 3 Jul. 12-18 Western and Central Europe Flooding 13 4 Jan. 1-Dec. 31 U.S. Drought 4.3 5 Dec. 10-12 U.S. Severe weather (3) 4 6 Jun. 17-25 Western and Central Europe Severe weather (3) 3.5 7 Apr. 27-May 2 U.S. Severe weather (3) 2.6 8 Feb. 2-13 Japan Fukushima Earthquake 2.5 9 Jun. 1-Sep. 30 China Season floods 2.1 10 Dec. 30-31 U.S. Marshall…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan: Currency Rate As Per Open Market (as on May 10 2022) Currency Symbol Buying Selling Australian Dollar AUD 132.5 134.5 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 142.5 144.5 China Yuan CNY 23.55 23.95 Danish Krone DKK 23.65 23.95 Euro EUR 197 199 Hong Kong…
Tech shares likely to spur Taiwan stock market The Taiwan stock market on Tuesday ended the two-day slide in which it had plunged almost 650 points or 4 percent. The Taiwan Stock Exchange now sits just above the 16,060-point plateau and it may add to its winnings on Wednesday. The global forecast for the Asian markets is mostly higher, with bargain hunting limited by concerns about economic growth and interest rates. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference. The TSE finished slightly higher on Tuesday following gains…
China’s central bank pledges to step up policy support for slowing economy China’s central bank said it would step up support for the slowing economy, while closely watching domestic inflation and monitoring policy adjustments by developed economies. The People’s Bank of China (PBOC) will keep liquidity reasonably ample, prioritise stability and take steps to boost confidence, the bank said in its first-quarter monetary policy implementation report. “Recently, the COVID-19 and the Ukraine crisis have led to increased risks and challenges, and the complexity, severity and uncertainty of China’s economic development environment have increased,” the central bank said. But China still…
Ship repairs proving costlier and more difficult scheduling-wise Performing scheduled maintenance or ship repairs is proving to be yet another challenge these days, in the aftermath of the war in Ukraine. In its latest weekly report, shipbroker said that “while observing the ship repair market since the beginning of the year, uncertainty remains part of the daily challenges owners must encounter for repairing their fleet. Nowadays not only the ongoing unprecedented effect of the pandemic is heavily affecting the ship repair market but also the shock of the long-lasting war between Russia and Ukraine”. According to the shipbroker’s specialized department,…
CS Brazil H2 April sugar production expected to drop 50pc on year Sugar production in the key Center-South Brazil region is expected to total 769,400 mt in the second half of April, a decrease of 49.5 percent year on year, an S&P Global Commodity Insights survey of 10 analysts showed May 9. “Expectations are running high that the cane crush should be the lowest since 2012 for the fortnight,” according to S&P Global. Of the 10 analysts surveyed, two large trading houses estimated the total cane crush would be between 20.0 million mt and 25.0 million mt. The average estimate…
Managing the New Venture Every new project is an infant and infants belong in the nursery. Innovative efforts, especially those aimed at developing new businesses, products, or services, should normally report directly to the “executive in charge of innovation.” They should never report to line managers charged with responsibility for ongoing operations. Unfortunately, this is a common error. The new project is an infant and will remain one for the foreseeable future, and infants belong in the nursery. The “adults,” that is, the executives in charge of existing businesses or products, will have neither time nor understanding for the infant…
Analysis of Islamic banking in Pakistan report released by the State Bank of Pakistan (SBP) identified that the Islamic Banking Industry (IBI) has been playing a significant role in the implementation of various initiatives taken in the wake of Covid-19 pandemic and several other key measures to promote financing for low cost housing and SMEs and digitization. During the Covid-19 pandemic, State Bank of Pakistan (SBP) introduced Temporary Economic Refinancing Facility (TERF), a concessionary refinance facility aimed at promoting investment both new and expansion and/or Balancing, Modernization and Replacement (BMR). In the disbursement of financing under TERF, the IBI also…
In Pakistan, high food inflation is still under control during the ongoing holy month of Ramazan, rendering the prices of fruits and vegetables beyond the purchasing power of the ordinary people in the country. In March the inflation rate picked up pace and jumped to 12.7 percent amid a significant rise in prices of perishable food items both in urban and rural regions. The Pakistan Bureau of Statistics (PBS) recorded that the Consumer Price Index (CPI) grew to 12.7 percent in March over the corresponding month a year ago. The national data collecting agency recorded a 33.63 percent increase in…
Sector Wise Islamic Financing In Pakistan (Share in %) Sector Dec-20 Sep-21 Dec-21 Overall Banking Industry Chemical & pharmaceuticals 4.4 3.7 3.9 3.4 Agribusiness 9.0 11.5 13.9 8.5 Textile 14.9 15.1 16.2 16.4 Cement 3.6 3.1 2.7 2.0 Sugar 2.7 1.8 2.4 2.3 Shoes and leather garments 0.5 0.5 0.4 0.4 Automobile & transportation equipment 1.3 1.2 1.3 1.8 Financial 0.3 0.2 0.2 3.1 Insurance 0.0 0.0 0.0 0.1 Electronics & electrical appliances 0.9 1.1 1.2 1.4 Production & transmission of energy 14.0 12.1 11.0 13.9 Individuals 10.2 11.6 11.2 9.8 Others 38.4 38.2 35.5 36.9 Total 100.0 100.0 100.0…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan: Currency Rate As Per Open Market (April 14, 2022) Currency Symbol Buying Selling Australian Dollar AUD 133 135 Bahrain Dinar BHD 386.6 388.6 Canadian Dollar CAD 141 143 China Yuan CNY 23.55 23.95 Danish Krone DKK 23.65 23.95 Euro EUR 193.5 195.5 Hong Kong Dollar HKD…
Canada stocks-resource shares lift Toronto index higher Canada’s main stock index rose on Monday as higher commodity prices bolstered the energy and materials sectors, although concerns around rising U.S. bond yields kept sentiment in check. At 9:39 a.m. ET, the Toronto Stock Exchange’s S&P/TSX composite index was up 54.39 points, or 0.25 percent, at 21,910.09. Meanwhile, U.S. stocks inched lower at open as Treasury yields continued to rise on expectations of a tighter monetary policy. The energy sector was up 1.2 percent, supported by higher oil prices as outages in Libya deepened concern over tight global supply and the Ukraine…
Tokyo: wars slows economy, delays recovery Japan’s economy is also beginning to feel the effects of the hardships caused by the Russian invasion of Ukraine. Recovery after the sharp contraction of 2020 is therefore further delayed due to the uncertainties of the international context, but other factors are also weighing heavily. The first sign of concern came last week, when the International Monetary Fund published its own report in which expected growth for the current year was downgraded from 3.3 percent to 2.4 percent. The document went on to indicate that consumption would drive the recovery but also pointed out…
Industry partnerships key to decarbonizing the commodity value chain The COP26 summit in Glasgow in November highlighted the increasing pressure for all industries, including the shipping industry, to decarbonize. The challenge for the Australian petroleum industry and other major users of deep-sea shipping will be to start preparation, and to find the most cost effective and low-risk ways to reduce emissions with seaborne logistics The Call to Action for Shipping Decarbonization at the COP26 was developed by a multi-stakeholder taskforce stressing that full decarbonization of international shipping is both urgent and achievable, calling on governments to work together with the…
Scientists discover a new form of pesticide that neutralises pathogens attacking rice Rice is one of the most important staple foods globally, providing one fifth of the calories consumed by humans. However, the major areas where rice are grown are blighted by pathogens – organisms that cause disease. To date, this problem has been treated with the use of chemical pesticides that typically target the plant-pathogenic fungi. But, with none of these treatments wholly effective, and many considered unfriendly to the environment, researchers have been seeking alternative solutions. In a study published in the KeAi journal Fundamental Research, a group…
Diversification Shoemaker, stick to your last!” The old cliché is still sound advice. The less diverse a business, the more manageable it is. Simplicity makes for clarity. People can understand their own job and see its relationship to results and to the performance of the whole. Efforts will tend to be concentrated. Expectations can be defined, and results can easily be appraised and measured. The less complex a business is, the fewer things can go wrong. And the more complex a business is, the more difficult it is to figure out what went wrong and to take the right remedial…
Since its inception, experts recorded that Benazir Income Support Programme (BISP), one of the 34 executing agencies of Ehsaas has managed to disburse an amount of Rs 1,112.20 billion by unconditional and conditional cash transfer grants. Social protection signifies the capacity of a society to meet the basic human needs of its citizens, establish the building blocks that allow citizens and communities to enhance the quality of their lives on sustainable basis and create the conditions for all individuals to attain their full potential. Social protection can help build the resilience of the poor and vulnerable segments by supporting them…
According to UNDP’s Human Development Report 2020, Pakistan’s HDI value for 2019 stayed at 0.557, which put the country in the ‘medium’ category. Statistics showed that Pakistan ranked at 154 out of 189 countries in the index based on Health (life expectancy at birth), Education (expected years of schooling) and Gross National Income (GNI) per capita. Between 1990-2019, Pakistan’s HDI value grew from 0.402 to 0.557, a rise of 38.6 percent which is considerably less than the rise attained through Bangladesh (59 percent) and India (52 percent). Pakistan’s life expectancy at birth grew by 7.2 years, mean years of schooling…
Pakistan: micro credit beneficiaries, outstanding loans portfolio and loan disbursement as of Dec. 2020 MFP Active Borrowers Outstanding Loans Portfolio (Rs) Number of Loans Disbursed Disbursements (Rs) Total for Pakistan MF sector 7,005,885 324,155,425,831 10,732,090 371,030,958,187 MFBs Apna Microfinance Bank 84,397 10,504,573,724 461,631 52,454,200,171 Advans Pakistan 8,517 1,074,437,207 4,436 845,345,342 FINCA Microfinance Bank 225,288 21,550,509,640 128,790 15,557,445,695 First Microfinance Bank Limited 571,125 42,583,434,872 351,102 31,216,585,579 Khushhali Bank 879,637 60,647,662,090 923,304 66,474,876,985 Mobilink Microfinance Bank 808,239 25,243,147,182 3,504,294 20,216,293,362 NRSP Bank 339,130 28,992,356,981 213,611 20,939,345,144 Pak Oman Microfinance Bank 56,061 2,519,259,822 36,015 2,862,826,100 Sindh Microfinance Bank 36,410 560,257,733 21,390 628,695,000 Telenor…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan: Currency Rate As Per Open Market (April 05, 2022) Currency Symbol Buying Selling Australian Dollar AUD 134.5 136.5 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 144 146 China Yuan CNY 23.55 23.95 Danish Krone DKK 23.65 23.95 Euro EUR 200 202 Hong Kong Dollar HKD…
Saudi Stock Exchange suspends shares trading of three companies The Saudi stock exchange, also known as Tadawul, has suspended the share trading of three companies for not issuing financial statements for 2021. The exchange suspended Saudi Cable Co. shares from the main market, according to a statement. It also suspended Obeikan Glass Co. and Advance International Company for Communication and Information Technology from the Nomu parallel market. The trading of these companies will be suspended from Sunday, April 03. Following one day’s suspension, the company’s trading in the exchange will be resumed on Monday. However, these companies should ensure to…
Singapore economy likely to grow in 2022 Singapore’s baseline assumption is that its economy is still able to grow this year, but adverse situations such as a recession or stagflation cannot be ruled out, owing to uncertainties arising from the deepening crisis in Ukraine, said Finance Minister Lawrence Wong on Tuesday (Mar 22). “It may well be that we can still continue to grow, which is still our assumption today, that our baseline assumption and projection is still that we are able to continue growing as an economy this year,” he told more than 3,000 business leaders and government officials…
Carbon neutral shipping – it all comes down to green hydrogen, and lots of it With decarbonisation much in the public eye, shipping is currently and perhaps belatedly trying to find the best pathway to carbon neutral fuels. Shipping greenhouse gas (GHG) emissions as a proportion of global GHG anthropogenic emissions increased from 2.76 percent in 2012 to 2.89 percent in 2018, according to the Fourth IMO GHG Study 2020. To put this into proportion, if shipping were a country it would rank as the sixth largest GHG emitter between Japan in fifth place and Germany, according to the World…
Brazil’s ethanol production premium surpasses 200 points over sugar A 7.8percent jump in Brazil’s Center-South hydrous ethanol price combined with a 6.8percent appreciation in the real against the dollar from March 10 to April 1 were the primary reasons for ethanol’s spike in production premium. NY11 May sugar futures posted a meager 1.4percent price rise over the same period. The ethanol production premium to sugar in Brazil moves closer to 240 points if decarbonization credits, CBIOs are added into the premium calculation. The CBIO, equivalent to 1 mt of carbon dioxide not released in the atmosphere, is an instrument issued…
Thales of Miletus, (born c. 624–620 BCE—died c. 548–545 BCE), philosopher renowned as one of the legendary Seven Wise Men, or Sophoi, of antiquity. He is remembered primarily for his cosmology based on water as the essence of all matter, with Earth a flat disk floating on a vast sea. The Greek historian Diogenes Laërtius (flourished 3rd century CE), quoting Apollodorus of Athens (flourished 140 BCE), placed the birth of Thales during the 35th Olympiad (apparently a transcription error; it should read the 39th Olympiad, c. 624 BCE) and his death in the 58th Olympiad (548–545 BCE) at the age…
According to the provisional figures released by the Pakistan Bureau of Statistics (PBS), the balance of trade in February 2022 was recorded (-)544,794 million in terms of Rupees and (-)3,087 million in US dollars. The balance of trade figures cumulative from July-February 2021–22 were (-)5,461,520 million in terms of Rupees and (-)31,946 million in US dollars. PBS also recorded that exports from Pakistan during February 2022 amounted to Rs. 497,602 million (provisional) as against to Rs. 460,856 million in January 2022 and Rs. 329,033 million during February 2021 explaining a rise of 7.97 percent over January 2022 and of 51.23…
The Experts in Pakistan recorded that for most commodity markets, 2020 was undeniably a turbulent year. The outbreak of the pandemic triggered a widespread worldwide shutdown of economic activity that depressed demand and disrupted supply chains for commodities in virtually all sectors counting energy, base metals and agricultural products. They also recorded that Bloomberg commodity Index hit an all-time low in April and the price of crude oil nosedived into negative territory for the first time ever. Pakistan: SPI (51 items) 2015-16=100 Expenditure Group (Quintile) SPI for week ended % Change Over 17-03-2022 10-03-22 18-03-21 10-03-22 18-03-21 Q1 (Upto Rs.…
Gross Domestic Product Of Pakistan (at constant basic prices of 2005-06) (Million Rupees) Sector/Industry 2016-17 2017-18 2018-19F 2019-20R 2020-21P Commodity Producing Sectors(A+B) 4,682,467 4,884,508 4,858,172 4,841,943 4,995,212 Agricultural Sector ( 1 to 4 ) 2,253,565 2,343,614 2,356,827 2,434,850 2,502,181 1. Crops ( i+ii+iii) 832,744 871,796 828,596 874,504 896,102 i) Important Crops 534,659 553,693 511,129 537,929 562,964 ii) Other Crops 244,703 260,026 266,791 288,344 292,420 iii) Cotton Ginning 53,382 58,077 50,676 48,231 40,718 2. Livestock 1,326,948 1,375,986 1,428,608 1,458,624 1,503,254 3. Forestry 45,505 46,679 50,076 51,880 52,617 4. Fishing 48,368 49,153 49,547 49,842 50,208 Industrial Sector ( 1 to 4 )…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan: Currency Rate As Per Open Market (March 24, 2022) Currency Symbol Buying Selling Australian Dollar AUD 133 135 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 142 144 China Yuan CNY 23.55 23.95 Danish Krone DKK 23.65 23.95 Euro EUR 197.5 199.5 Hong Kong Dollar HKD…
Nikkei index extends rally to 9 days, longest win streak since 2019 Japan’s Nikkei stock index extended its winning streak to nine days on Friday, its longest rally since September 2019, as investors bought issues to secure rights for dividend payments. The 225-issue Nikkei Stock Average ended up 39.45 points, or 0.14 percent, from Thursday at 28,149.84. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 0.09 point, or 0.00 percent, lower at 1,981.47. Gainers were led by marine transportation, farm and fishery, and pharmaceutical issues. The U.S. dollar dropped to the upper 121…
Imran Khan Highlights Govt Main Initiatives AMID People Applause Prime Minister Imran Khan highlighted his Government major initiatives and achievements said Sehat Card plus Program, Kamyab Pakistan Program, Enegy Projects, Ehsas and Uniformed Education system was launched for socioeconomic empowerment of people and expediting pace of industrial and economic growth. Addressing a huge public gathering at Dargai, the Prime MinisterImran Khan said during the last three and half years of his Government, work on 10 dams projects were started in Pakistan, saying Mohmand Dam would be completed by 2025, Dasu dam by 2027 and Diamir Bhasha dam by 2028. Imran…
World economy faces supply hit as China battles covid again The global economy — already struggling with war in Ukraine and the stagflation risks it’s fanning — is bracing for greater disruption as China scrambles to contain its worst outbreak of COVID-19 since the pandemic began. Since Wuhan two years ago, China has had relative success in minimizing disruption by bringing virus cases quickly under control. Now, the geographic spread of infections and higher transmissibility of the omicron variant is challenging the country’s hawkish pandemic strategy of aggressive testing and locking down whole cities or provinces. If China fails to contain…
Shipping ton-mile demand increasing The current situation in the shipping markets has been favorable of increased ton-mile demand. However, the long-term implications of the Ukraine war are difficult to quantify at this stage. In its latest weekly report, shipbroker said that “for those looking for the historical reference to what’s going on in the markets right now, it looks as though we are now getting echoes of the 1970’2 oil shock. The connection may well be light and with several of the drivers being different, yet the essence seems to have unwittingly familiar effects. The 1973 oil shock drove the…
Iron ore price rises Iron ore prices climbed on Monday over concerns that a prolonged armed conflict between Russia and Ukraine could curb global supply. The most-traded May iron ore contract on China’s Dalian Commodity Exchange ended daytime trading 2.7 percent higher at 705.50 yuan ($111.82) a tonne. On the Singapore Exchange, iron ore’s most-active April contract rose as much as 3.3 percent to $141.25 a tonne. According to Fastmarkets MB, benchmark 62 percent Fe fines imported into Northern China were changing hands for $138.09 a tonne during morning trading, up 2.6 percent compared to Friday’s closing. Any prolonged military campaign…
Lawrence Edward Page is an American Computer Scientist and an internet entrepreneur who co-founded Google with Sergey Brin in 1998. Larry Page is the CEO of Google’s parent company Alphabet Inc. Born on March 26, 1973, in East Lansing, Michigan, his father was a Ph. D in Computer Science and a professor at Michigan State University and his mother an instructor in computer programming. A voracious reader in his youth, Page spent a lot of time poring over Science & Technology books and magazines. Page always liked to invent things and at the age of 12 knew that someday he was…
Industrialization plays a vital role in the economic development of countries as it raises career opportunities and ensures better utilization of local resources. The Government of Pakistan has been cognizant of the significance of industry amid recent health-cum-economic crisis and has taken proactive initiatives to promote and develop it. The Government is offering a series of subsidies for electricity and gas to export-oriented industries. Power price has been fixed at US$ 0.07/unit for July-August FY2021 and US$ 0.09/unit for September-June FY2021. Gas tariff fixed at US$ 0.065/mmbtu for the whole FY2021. Power Division has assigned Rs 20 billion subsidy for…
In Pakistan, the experts recorded that cement demand is closely connected to the overall economic growth, particular the infrastructure and housing sector. Pakistan’s Public Sector Development Projects (PSDP) allocation plays a significant role in driving the demand of cement. Government of Pakistan annual allocation of PSDP and utilization of the same plays a critical role on demand for cement. They also recorded that slowdown in economic activity in Pakistan affects cement demand on the back of slowdown in construction and development activities. Consequently, the industry remains exposed to high cyclicality risk. The Government of Pakistan focused initiatives on housing and…
Cement Production Capacity & Dispatches In Pakistan (Million Tonnes) Years Production Capacity Capacity Utilization (%) Local Dispatches Exports Total Dispatches 2006-07 30.50 79.23 21.03 3.23 24.26 2007-08 37.68 80.14 22.58 7.72 30.30 2008-09 42.28 74.05 20.33 10.98 31.31 2009-10 45.34 75.46 23.57 10.65 34.22 2010-11 42.37 74.17 22.00 9.43 31.43 2011-12 44.64 72.83 23.95 8.57 32.52 2012-13 44.64 74.89 25.06 8.37 33.43 2013-14 44.64 76.79 26.15 8.14 34.28 2014-15 45.62 77.60 28.20 7.20 35.40 2015-16 45.62 85.21 33.00 5.87 38.87 2016-17 46.39 86.90 35.65 4.66 40.32 2017-18 48.66 94.31 41.15 4.75 45.89 2018-19 59.74 78.48 40.34 6.54 46.88 2019-20 63.63…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan: Currency Rate As Per Open Market (March 10, 2022) Currency Symbol Buying Selling Australian Dollar AUD 128 129.5 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 138.5 140.5 China Yuan CNY 23.55 23.95 Danish Krone DKK 23.65 23.95 Euro EUR 193 195 Hong Kong Dollar HKD…
CAC 40 up 7.13 pc France stock were higher after the close on Wednesday, as gains in the Oil & Gas, Technology and Gas & Water sectors led shares higher. At the close in Paris, the CAC 40 rose 7.13 percent, while the SBF 120 index added 7.07 percent. The best performers of the session on the CAC 40 were Veolia Environment VE SA which rose 12.26 percent or 3.15 points to trade at 28.84 at the close. Meanwhile, Stellantis NV added 11.90 percent or 1.54 points to end at 14.50 and Societe Generale SA was up 11.53 percent or…
PM Imran introduces Ehsaas Rashan Riayat initiative According to UNDP Human Development Report 2020, Pakistan’s HDI value for 2019 stayed at 0.557 which put the country in the ‘Medium’ category. Pakistan ranked at 154 out of 189 countries in the index based on Health (life expectancy at birth), Education (Expected years of schooling) and Gross National Income (GNI) per capita. Between 1990-2019, Pakistan’s HDI value grew from 0.402 to 0.557, a rise of 38.6 percent which is considerably less than the increase attained by Bangladesh (59 percent) and India (52 percent). Pakistan’s life expectancy at birth grew by 7.2 years,…
China outlines plan to stabilize economy Plowing past global anxieties over the war engulfing Ukraine, China set its economy on a course of steady expansion for 2022, prioritizing growth, job creation and increased social welfare in a year when the national leader, Xi Jinping, is poised to claim a new term in power. The annual government work report delivered to China’s National People’s Congress by Premier Li Keqiang on Saturday did not even mention Russia’s invasion of Ukraine, and it took an implacably steady-as-it-goes tone on China’s economic outlook. The implicit message appeared to be that China could weather the…
Russian seaborne lng exports reached 30.3mn tonnes The current situation in Ukraine is having a direct impact on the shipping markets, with Russian seaborne exports being driven off the market. In its latest weekly report, shipbroker Banchero Costa said that “Russia is the fourth largest seaborne exporter of liquified natural gas in the world, after Qatar, Australia, and the USA. In calendar 2021 the country exported a total of 30.3 mln tonnes of LNG by sea, according to Refinitiv vessel tracking data, an increase of +5.4 percent y-o-y. This amounted to 7.8 percent of global seaborne LNG exports. The majority…
Prey dry season rice production sees increase The Prey Veng Provincial Department of Agriculture reported that the production of dry season rice crops has seen an increase compared to the same period of last year. The Department reported that the as of February 22, the production of this year’s dry season rice covers a total area of 118,582 hectares, which is equivalent to 158.11 percent of the initial goal of 75,000 hectares to be cultivated. Farmers have so far harvested a total of 51,751 hectares of the rice fields, which is equivalent to 43.64 percent of the total rice fields…
Thomas Edison was America’s greatest inventor and also a great businessman. His inventions created and contributed to modern night lights, phonograph, the motion pictures, and long-lasting practical electric light bulb. He was genuinely a Genius. Among his invention, some were improvements on various other inventions, similar to phone. Some were deliberately tried to invent, similar to bulb and motion picture projector. But, few inventions he stumbled on, like the phonograph. One day, as a little boy, Thomas Edison got back home from school and gave paper to his mom. He said to her, Mother my teacher gave this paper to me…
Pakistan banking sector making progress The State Bank of Pakistan (SBP) has greatly contributed for the development of the economy of Pakistan by playing vital role in the management of financial systems of Pakistan. Experts identified that banking sector has been in the driving seat in present era. It is posting well growth in profits on the strength of its deposit profile that favours consumerism instead of savings. Statistics showed that the banking sector spread for the month of January 2022 grew by 18 basis points (bps) over the month which brings its latest value to 4.26 percent as against…
International experts identified that the international trade has historically grown much faster than worldwide Gross Domestic Product (GDP), nearly doubling in the 20 years prior to the pandemic and representing 60 percent of worldwide GDP. Although the pandemic led to a fall in the worldwide trade of 9.2 percent during 2020, the setback is predicted to be temporary, with continued growth forecasted for 2021 and beyond (WTO). It is also predicted that 47 percent of worldwide trade relies on bank-intermediated trade finance. As worldwide trade enlarges, trade finance is of central significance. During 2019, the worldwide trade finance market worth…
Credit/Loans Classified By Borrowers In Pakistan (Million Rupees) Details Nov-21 Dec-21 (R) Jan-22 (P) 1. Credit to Government Sector (A+B) 16,759,145 16,691,345 16,699,802 2. Credit to Non Government Sector (A+B) 9,327,625 9,834,285 9,658,862 A. SBP Credit to Non Govt. Sector 29,733 30,449 30,549 B. Scheduled Banks Credit to Non Govt.Sector (I+II+III) 9,297,892 9,803,835 9,628,313 I. Credit to PSEs 1,733,573 1,768,058 1,744,838 II. Credit to NBFIs 200,104 241,033 222,570 III. Credit to Private Sector (A+B) 7,364,215 7,794,745 7,660,905 A. Investment in Securities & Shares of Private Sector 198,927 196,274 198,532 B. Loans to Private Sector (1-4) 7,165,289 7,598,471 7,462,373 1. Private…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan: Currency Rate As Per Open Market (Feb 24, 2022) Currency Symbol Buying Selling Australian Dollar AUD 125 127 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 137 139 China Yuan CNY 23.55 23.95 Danish Krone DKK 23.6 23.9 Euro EUR 198.5 200.5 Hong Kong Dollar HKD…
Nasdaq and S&P 500 rebound from early slides The Nasdaq Composite and S&P 500 are staging a late-day comeback after falling sharply to start the session. Days like these in the stock market are rare, but have become a feature of markets in 2022. The Nasdaq was down 3.5 percent at its low this morning but is now trading higher. In the past 15 years, there have been eight trading days where the index was down at least 3 percent intraday but ended the day higher. One of those sessions occurred in January, when the index fell almost 5 percent…
Productive Discussion on Polio Eradication Presently Bill Gates a Microsoft co-founder, called on Prime Minister Imran Khan during his first-ever visit to Pakistan and discussed matters related to polio eradication and other important problems. Bill Gates, who is visiting Pakistan on a day-long trip, held meetings with senior government officials, counting a one-on-one meeting with Prime Minister Imran Khan, according to a statement issued by the PM Office. The Microsoft co-founder attended a meeting of the National Task Force on Polio Eradication, where he noted that despite Covid-19 restrictions, Pakistan’s has performed “amazingly” in eradicating polio. He thanked Imran Khan…
Japan watching impact of rate rises by the west on its economy Japan will watch how rising interest rates in Western nations could affect its economy, the finance minister said on Tuesday, as higher bond yields would boost borrowing costs for the industrial world’s heaviest public debt burden. Shunichi Suzuki made the remark as the parliament’s powerful lower house is set to approve the fiscal 2022/23 budget with a record $940 billion in spending on Tuesday, setting the stage for the budget’s full passage through the legislature in March. “As interest rates rise, interest payments will rise as well, straining…
Higher energy-yield with superior fuel combustion While deliberations on meeting the IMO’s goal of cutting GHG emissions from shipping by 2050 progress, we need to focus on technology that is available and to improve fuel combustion. When fuel combustion is improved, emissions and engine wear are reduced, and fuel economy improves. At an IMarEST UAE branch technical meeting, Ocean2Door India presented the benefits of FuelSpec® Combustion Catalyst, which is a bridge technology that will allow shipping to burn less fossil fuel, in a significantly cleaner operation, as we continue to benefit from the Blue economy. Delivering the welcome address, NIKEEL…
Rice feeds the world, now more than ever Rice has been produced throughout the world for thousands of years, and today it is a staple food for more than 3.5 billion people. The United States, while newer to the rice game than some other exporters, produces several varieties of nutritious, high-quality, and delicious rice. While approximately half of the rice produced in the U.S. is consumed there, the other half is exported around the globe including providing food to the world’s hungry. The U.S. rice industry is proud to participate in international food assistance programmes that help feed, nourish and…
Henry Ford was an industrialist in America who founded the Ford Motor Company. His company developed and manufactured affordable automobiles which revolutionized the transportation industry in America. He is credited for mass production of cheap products coupled with better pay for the workers. His commitment to lowering the cost systematically resulted in several business innovations that led to the growth of the Ford Motor Company in North America and major towns of the other continents. Henry Ford was born in 1863 in Michigan. His father came from County Cork while his mother was born in Michigan by a Belgium immigrant.…
No doubt, Education being the fundamental human right stands most significant element in evolution of human progress and nation development. It develops capabilities to fight against injustice, violence, corruption and many other social evils. Sustainable socio-economic development of a country depends on substantial investment in its human capital by education and skill development. Educated people work as an effective tool in accepting and adopting innovative ideas and means of productivity/technologies, ensuring the elimination of economic and social ailments. Further, as a dividend, it brings socio-economic progress also prosperity in to the country. An educated and skilled nation is productive enough…
The Government of Pakistan’s facts showed that the country has shown improvement in health indicators over the previous 3-year. Life expectancy is grown from 66.9 years in 2017 to 67.3 years in 2019, but is still behind in the region. The infant mortality rate, maternal mortality and population growth rate have been declined during the previous 3-year. It is also showed that in order to make substantial progress on Goal 3 of Sustainable Development Goals (Good Health and Wellbeing), the government has given priority to strengthen health sector to further resolve and address the outbreak of Covid-19 pandemic. Statistics also…
Health Indicators Of Pakistan Details 2015 2019 Maternal mortality Ratio (per 100,000 births) 276 (2006) 189 Neonatal mortality rate (per 1,000 live births) 45.2 41.2 Mortality rate, infant (per 1,000 live births) 62.1 55.7 Under-5 mortality rate (per 1,000) 76.1 67.2 Incidence of tuberculosis (per 100,000 people) 270 263 Incidence of HIV (per 1,000 uninfected population) 0.10 0.12 Life expectancy at birth, (years) 66.6 67.3 Births attended by skilled health staff (% of total) 58.0 68.0 (2020) Contraceptive prevalence, any methods (% of women ages 15-49) 32.0 (2014) 34.0 [divider style=”normal” top=”20″ bottom=”20″] Registered Medical And Paramedical Personnel (in Nos.)…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan: Currency Rate As Per Open Market (Feb 10, 2022) Currency Symbol Buying Selling Australian Dollar AUD 124 125.5 Bahrain Dinar BHD 386.95 388.7 Canadian Dollar CAD 138 140 China Yuan CNY 23.5 23.9 Danish Krone DKK 23.6 23.9 Euro EUR 199.5 201.5 Hong Kong Dollar HKD…
European stocks advance at open European stock markets climbed at the open on Wednesday, echoing gains across Asia after an upbeat Wall Street performance. London’s benchmark FTSE 100 index of major blue-chip companies won 0.5 percent to 7,600.95 points. Frankfurt’s DAX index rose 0.8 percent to 15,362.61 and the Paris CAC 40 added almost 1.0 percent to 7,095.51, compared with Tuesday’s closing levels. Asian equities also bounced higher as traders prepared for Thursday’s highly anticipated US inflation data, while sentiment was soothed by signs of easing Russia-Ukraine tensions. [divider style=”normal” top=”20″ bottom=”20″] Sensex ends 187 pts higher Indian indices witnessed…
Appreciation Certificates to the Top 10 Best Performing Federal Ministries Sources recorded that Prime Minister Imran Khan presently awarded appreciation certificates to the “top 10 best performing federal ministries” under his government, with the communications ministry, planning ministry and poverty alleviation division getting top honours of first, second and third respectively. It is also said that the top 10 ministries recognised for their performance at a ceremony held in Islamabad were: Ministry of Communications, Ministry of Planning, Development and Special Initiatives, Poverty Alleviation and Social Safety Division, Ministry of Federal Education and Professional Training, Ministry of Human Rights, Ministry of…
Malaysia economy likely returned to growth in q4, omicron a threat: Poll Malaysia’s economy likely bounced back to growth in the final quarter of 2021, propelled by strong exports and private investments, but the fast-spreading Omicron coronavirus variant poses a threat to the outlook, a Reuters poll found. Growth in Southeast Asia’s third-largest economy rebounded last quarter to 3.3 percent year-on-year after shrinking 4.5 percent in the July to September period, according to the median forecast of 20 economists polled from Feb 3 to Feb 8. Forecasts for the change in gross domestic product (GDP), due to be released on…
Why Mexico is ideally placed to become a zero-carbon shipping fuels hub With the International Maritime Organization calling for a 50 percent decrease in international shipping emissions by 2050 compared to 2008 rates, stakeholders across the maritime value chain are committed to commercializing and scaling zero-carbon vessels and fuels by 2030. According to a study conducted by Ricardo and the Environmental Defense Fund for the P4G-Getting to Zero Coalition Partnership, which also includes the World Economic Forum, Mexico has the potential to play a key role in transforming global shipping through green hydrogen-derived fuels and clean electricity. [divider style=”normal” top=”20″…
Thailand rice exports expected to rise sharply Thailand is forecast to export 8 million tonnes of rice in the 2021-22 marketing year, up 31 percent from the previous year, according to a Global Agricultural Information Network report from the Foreign Agricultural Service of the US Department of Agriculture (USDA). Attractive Thai prices, driven by the weakening of the Thai baht, are the reason for the sharp increase in exports, the report said. Rice production is projected to increase year-on-year from 18.8 million tonnes to 20.8 million tonnes, the USDA said. The report noted that the country’s wheat imports are expected…
Andrew Carnegie, a Scottish-American industrialist and the greatest philanthropist in this speech, is known to be the most influential person whose greatest contribution in expanding the American steel industry in 19th century makes him immortal. He donated his most fortune to establishing schools, Libraries and universities across the United States and Europe. He was a self-made man for his economic, cultural as well as intellectual developments. He is often considered to be the second richest man in the history after John D. Rockefeller. From his young age he would love to listen about famous Scottish heroes such as Rob Roy,…
Experts mentioned in the Economic Survey of Pakistan that even prior to Covid-19 outbreak, globalization in trade, finance, investment and migration was facing a number of headwinds, stimulated through geopolitical tensions over trade between the United States (US) and China, “Brexit” vote for United Kingdom (UK) also rising polarization and social inequality. The pandemic has further exacerbated the prevailing trade relationships among nations. All the measures taken by the states to restrain the spread of virus like closure of borders, strict lockdowns and quarantines have distorted supply chains and weakened the demand of an interconnected economy. This has resulted in…
In Pakistan, Hotel industry makes a considerable part of the service sector. Experts identified that food, accommodation and dress are the three most essential things of human. Hotel industry or hotel alone offers two basic things: accommodation and food. No doubt, hotel is a part of the hospitality industry which is an umbrella term for a broad variety of service industries counting, but not limited to, hotels, restaurants and casinos. The Hotel industry worldwide has focused on training and human resource development to compete in the current business environment. Statistics showed that the global hospitality sector has tremendous facts and…
PSL-Teams (2022) Peshawar Zalmi Karachi Kings Islamabad United Quetta Gladiators Lahore Qalandars Multan Sultans [divider style=”normal” top=”20″ bottom=”20″] Highest Totals (PSL) Team Total Opponent Season Islamabad United 247/2 Peshawar Zalmi 2021 Islamabad United 238/3 Lahore Qalandars 2019 Peshawar Zalmi 232/6 Islamabad United 2021 Peshawar Zalmi 214/5 Islamabad United 2019 Lahore Qalandars 209/5 Quetta Gladiators 2020 [divider style=”normal” top=”20″ bottom=”20″] Lowest Totals Team Total Opponent Season Lahore Qalandars 59 Peshawar Zalmi 2017 Quetta Gladiators 73 Multan Sultans 2021 Lahore Qalandars 78 Peshawar Zalmi 2019 Islamabad United 82 Karachi Kings 2017 Lahore Qalandars 89 Multan Sultans 2021 [divider style=”normal” top=”20″ bottom=”20″] Most…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan: Currency Rate As Per Open Market ( Jan 25 2022) Currency Symbol Buying Selling Australian Dollar AUD 124 125.5 Bahrain Dinar BHD 386.95 388.7 Canadian Dollar CAD 138.5 140 China Yuan CNY 23.5 23.9 Danish Krone DKK 23.55 23.85 Euro EUR 198.5 200.5 Hong Kong Dollar…
Japan’s Nikkei index losses over 3 pct, lowest intraday level in 14 months Japan’s benchmark Nikkei stock index lost over 3 percent momentarily on Thursday afternoon, marking its lowest intraday level in around 14 months. The Nikkei index fell 888.58 points, or 3.29 percent. However, the 225-issue Nikkei Stock Average dropped 768.88 points, or 2.85 percent, from Wednesday to 26,242.45. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 43.83 points, or 2.32 percent, at 1,848.02. Dealers said Thursday’s selloff gathered steam on mounting concerns of a U.S. Federal Reserve rate hike at an…
PM lays foundation stone of special technology zone In Pakistan researchers recorded that during Covid-19 Pandemic, protection and creation of jobs is the second biggest challenge after the health crisis. The pandemic adversely impacted employment and labour productivity through impeding growth in various economic sectors. State Bank of Pakistan (SBP) has taken dissimilar initiatives to counter the effects of Covid-19 like support to firms in paying wages to their employees amid the lockdowns to prevent layoffs (Rozgar Scheme). Further, revival of construction industry during pandemic is one of the major initiatives of the government of Pakistan for employment generation in…
Outlook for Bangladesh economy While the third wave of Cov-Sars-3 in its new incarnation as Omicron has placed the Bangladesh economy in tenterhooks threatening to derail the economic recovery, forecasts are being made by multi-lateral institutions (MLI) that sound like sweet music to the ears of policy makers. Coming from institutions that are normally conservative about their estimates of Bangladesh economies growth prospects, the recent forecasts and estimates appear too good to be true. A quick look at these forecasts and estimates may reveal if these are serious exercises or mere speculation made in a generous mood to dispel the…
Shipping decarbonization With the shipping industry gradually expected to move towards cleaner fuels, ordering a newbuilding vessel can be a very difficult “exercise” from a compliance and financial point of view. So what are the options that ship owners have opted to choose? In its latest weekly report, shipbroker Gibson said that “decarbonisation talk appears to be everywhere nowadays – on a government level and in a plethora of industries. Last year saw several international agreements reached during COP26 as well as European Union proposals to include shipping in their emissions trading scheme. The IMO agreed on short term measures…
Kenya’s tea export earnings rise 13pc yr/yr in 2021 Kenya’s 2021 tea export earnings rose 13 percent to 136 billion shillings ($1.20 billion) compared with a year earlier, helped by rising export volumes, the industry’s regulator said. Kenya’s total tea production for the year fell to 533 million kg from 569 million kg a year earlier, while total exports rose to 558 million kg from 518 million in 2020, sources said . Kenya is a leading exporter of black tea worldwide, and tea is a major earner of foreign exchange alongside remittances, horticulture and tourism. [divider style=”normal” top=”20″ bottom=”20″] Brazil…