Imran Khan launches Ehsaas Education Stipends Programme Prime Minister Imran Khan urged the government was making attempts to ensure the inclusion of 20 million out-of-school children in the educational system, and, for this purpose, planned to give financial incentive to their parents to encourage their enrollment in schools. Addressing the launch of Ehsaas Education Stipends programme in the federal capital, Imran Khan said ensuring education for all was a priority of the government of Pakistan. The Stipends would play a role in encouraging parents to send their children, mainly girls, to schools. Lauding the policy of Ehsaas Stipends programme to…
Author: S. Kamal Hayder Kazmi
Solar needs to dethrone coal to meet Indonesia goals Solar power holds the key to meeting renewable energy targets for Indonesia, but the fast-growing Southeast Asian economy needs significant reforms to steer it away from an over-reliance on coal, according to a report. The sprawling archipelago is targeting for renewables to make up 23% of its energy needs by 2025, a task that could be met by 18 gigawatts of solar-panel systems, according to a report jointly published by BloombergNEF, Bloomberg Philanthropies and Indonesia’s Institute for Essential Services Reform on Thursday. [divider style=”normal” top=”20″ bottom=”20″] S.Korea’s tax revenue grows on…
Scrubbers for the future Almost as long as scrubber technology has been commercially available for shipping, questions have been raised about the potential longevity of the technology. The potential for extending the scope of scrubber technology beyond reducing SOx emissions from high sulphur fuel oil was not a commercially viable research area for a mono-fuel world. However, scrubber manufacturers are now starting to look at how the technology can evolve over time as demands for a wider range of emissions reductions technologies builds. Manufacturers of scrubbers do not anticipate that demand for these systems will ebb, but expect that these…
Iron ore price rises as China’s imports hit record The Iron ore price rebounded on Tuesday from a seven-month low after data showed China’s imports in August picked up for the first time in five months, rising 10.1 percent over July. China imported iron ore worth a record $20 billion in August, despite steel production curbs in the world’s largest producer. Total volumes were 97.5 million tonnes. According to Fastmarkets MB, benchmark 62 percent Fe fines imported into Northern China were changing hands for $137.97 a tonne, up 4.2 percent from Monday’s closing. It was also a record month for…
To succeed in business presently, you need to be flexible and have good planning and organizational skills, experts say. Starting a business requires analytical thinking, determined organization, and detailed record-keeping. It’s significant to be aware of your competition and either appropriate or enhance upon their successful tactics. You’ll almost certainly end up working harder for yourself than you would for someone else, so prepare to make sacrifices in your personal life when organizing your business. Providing good service to your customers is crucial to gaining their loyalty and retaining their business. Business Not Financial Strategy Successful acquisitions are based upon…
Experts identified that Pakistan is one of the largest labour exporting country in the region. Overseas migrant workers are the most valuable asset of Pakistan and they are playing major role in the socio-economic development of Pakistan by their remittances. Statistics showed that greater than 11.43 million Pakistanis have proceeded abroad for employment to over 50 countries by official procedures. The migration of Pakistani workers is mostly concentrated to Gulf Cooperation Council countries (96 percent) with Saudi Arabia and UAE hosting the majority. During 2020, Bureau of Emigration & Overseas Employment has registered 224,705 for overseas employment as compared to…
According to the Economic Survey of Pakistan FY2021, a robust manufacturing sector promotes domestic production, exports and generates employment, hence stimulates the overall growth of an economy. The manufacturing sector in Pakistan contributes 12.79 percent to Gross Domestic Product (GDP) and the sector employs 16.1 percent of the country’s labour force. The outstanding growth in industries’ output was partly backed through higher export orders received mostly through the textile producers in Pakistan. Besides, the growth assisted firms to rehire the staff laid off in the wake of countrywide lockdown imposed in March 2020 to deal with the first wave of…
Production of selected large-scale manufacturing items in Pakistan (July-June) Items Adjusted Weights Percentage Change Items Adjusted Weights Percentage Change FY21 FY20 FY21 FY20 Textile 29.74 15.31 -10.39 Iron & Steel Products 7.67 15.58 -17.36 Cotton Yarn 18.43 12.47 -10.83 Pig iron 2.25 0.00 0.00 Cotton Cloth 10.22 12.19 -10.66 Billets/Ingots 2.17 50.98 -18.33 Jute Goods (Total) 0.47 7.33 -3.08 H/C.R.Sheets/Strips/Coils/plates etc 3.25 -9.78 -16.64 Woollen & carpet yarn 0.47 182.34 25.33 Fertilizers 6.31 7.23 4.39 Woolen & worsted cloth 0.12 100.37 -59.78 Phos. fertilizers 0.57 18.60 -0.41 Knitting wool 0.02 -51.53 -45.76 Nit. fertilizers 5.75 5.92 4.98 Woolen blankets 0.01…
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 (August 27, 2021) Currency Symbol Buying Selling Australian Dollar AUD 118 120 Bahrain Dinar BHD 386.7 388.7 Canadian Dollar CAD 130 132 China Yuan CNY 23.6 23.75 Danish Krone DKK 23.3 23.6 Euro EUR 193 195 Hong Kong Dollar HKD…
44 listed companies in Saudi Arabia score 100pc gains in a year Around 44 companies listed on the Saudi Stock Exchange (Tadawul) posted their gains exceeding 100 percent at the end of their trading Wednesday, while compared to the lowest record registered during a whole year. The benchmark Tadawul All Share Index (TASI) fell 0.3 percent or 28 points to close at 11.129 points, up by 0.1 percent, with a total value of about SR5.1 billion. The closing auction contributed to the rise of the index by 20 points, and the shares of 87 companies rose, while the shares of…
Imran Khan wants awareness campaign about EVM Sources recorded that three days after the federal cabinet planned that the government of Pakistan would use electronic voting machines for the 2023 next general elections in consultation with the opposition, Prime Minister Imran Khan presently directed the authorities concerned to launch a campaign to apprise the public and all stakeholders of the benefits of electronic voting machine (EVMs) and check undue criticism by presenting a factual review. He issued the directive while presiding over a review meeting on use of EVMs in the elections. Federal ministers Fawad Chaudhry and Shibli Faraz, Adviser…
Malaysia’s economy grows 16.1pc in Q2 The Malaysian economy grew 16.1 percent year on year in the second quarter of 2021, due to the low base from the significant decline in activity during the second quarter in the previous year when movement restriction was first imposed in the country, the central bank said on Friday. However, owing to the re-imposition of nationwide containment measures, the central bank has lowered Malaysia’s full-year GDP growth forecast this year to 3-4 percent, from the previous forecast of 6-7.5 percent, it said in a statement. The economic performance in the second quarter was mainly…
Shipping moving towards zero-emission period More needs to be done, in order for shipping to transition to the zero-carbon era. In a recent weekly report, shipbroker said that “energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world are focusing on reducing climate risks, accelerate the adoption of clean energy technologies and secure the transition towards new clean energy industries, while ensuring security on energy supply. As reported, net zero carbon targets have to quickly turn into real world action in order to reach long-term climate…
Govt announces incentive for mills exporting sugar The Centre on Thursday announced an incentive for sugar mills in the form of an additional domestic sales quota to those that export sugar and divert the commodity towards ethanol making, in the new 2021-22 season starting October. Sugar mills have also been asked to take advantage of firm global sugar prices and plan export of raw sugar in advance in the new season (October-September), it said. This indicates that the government is unlikely to extend the export subsidy from the new season, as it would be easier for domestic mills to sell…
Resource-Allocation Decisions The allocation of capital and performing people converts into action all that management knows about its business – they determine whether the organization will do well or well or poorly. An organization should allocate human resources as purposefully and as thoughtfully as it allocates capital. To understand a capital investment, a company has to look at four measures: return on investment, payback period, cash flow, and discounted present value. Each of these four measures tells the executive something different about a prospective capital investment. Each looks at the investment through a different lens. Decision makers should not evaluate…
Analysis of Economic Survey of Pakistan FY2021 showed that Pakistan Stock Exchange’s (PSX) performance has been remarkable this year. During July 2020 to April 2021 period, the benchmark KSE-100 index enhanced from 34,889.41 points to 44262.35 points. During this time, the Index ended at its highest point of 46,933.63 on February 3, 2021, before the third wave of COVID-19 dragged it down. As of April 30, 2021, number of listed companies reached at 532, with total market capitalization of Rs 7,718 billion. The turnover in shares reached its peak in January 2021, showing that investors were actively investing in PSX.…
International studies identified that the Foreign Inflows plays a significant role in development of any country. Although significance of such inflows is much larger in developing states but it is not limited to them. Emerging economies, even developed states, also need foreign inflows to manage their economy. However, size and the composition of such inflows are determined on the basis of country specific requirements. The need of foreign capital usually arises with the lack of capital in host country and low saving and investment ratios. Furthermore, low household income reduces the government’s earning from taxes and hence it reduces government…
Pakistan: Production Of Selected Large-Scale Manufacturing Items (During Jul-May) Items Adjusted Weights Percentage Change Items Adjusted Weights Percentage Change FY21 FY20 FY21 FY20 Textile 29.74 15.64 -10.72 Iron & Steel Products 7.67 14.14 -17.02 Cotton Yarn 18.43 12.67 -11.02 Pig iron 2.25 0.00 0.00 Cotton Cloth 10.22 12.39 -10.82 Billets/Ingots 2.17 50.80 -19.36 Jute Goods (Total) 0.47 7.87 -3.83 H/C.R.Sheets/Strips/Coils/plates etc 3.25 -11.53 -15.30 Woollen & carpet yarn 0.47 206.27 15.22 Fertilizers 6.31 6.99 5.64 Woolen & worsted cloth 0.12 111.53 -64.03 Phos. fertilizers 0.57 19.83 -1.98 Knitting wool 0.02 -52.39 -42.41 Nit. fertilizers 5.75 5.55 6.58 Woolen blankets 0.01…
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 ( August 13, 2021) Currency Symbol Buying Selling Australian Dollar AUD 118.5 119.75 Bahrain Dinar BHD 386.7 388.7 Canadian Dollar CAD 129.5 132 China Yuan CNY 23.5 23.65 Danish Krone DKK 23.2 23.5 Euro EUR 191 193 Hong Kong Dollar…
Australian market modestly higher Australian stock market is modestly higher on Friday, extending the winning streak of seven previous sessions, with the benchmark S&P/ASX 200 moving above the 7,600 level to fresh all-time highs, following the broadly positive cues overnight from Wall Street, even as the country struggles to contain the domestic coronavirus situation, primarily in New South Wales, hindering economic activity amid lockdowns. NSW has reported 390 new local cases of COVID-19 on Thursday, the highest daily cases of the current outbreak, with more regional areas coming under tougher restrictions. Victoria recorded 15 new locally acquired cases, with active…
Government’s vision to double the income of farmers: Imran Khan Presently, Prime Minister of Pakistan Imran Khan said it was his government’s vision to double the income of farmers that would eventually lead to a rise in the country’s income. Addressing a farmers’ convention at the Baghdadul Jadid campus of Islamia University (IUB) where he launched the Kissan Card scheme, PM Imran Khan referred to a number of measures adopted through the present government to benefit the farmers. PM said Pakistan had over the past few years faced a tough condition, but now it was marching on the road to…
RPT-Thai cbank eyes credit market Thailand’s central bank will focus on creating conditions for expanding debt relief and credit for firms to boost the flagging economy, the bank’s chief said, adding that already low interest rates had become a blunt tool for many policymakers. Governor Sethaput Suthiwartnarueput also told Reuters in an interview that, while an economy under pressure from the country’s worst coronavirus outbreak yet might shrink in the third quarter from the second, he did not expect it to contract in 2021 as a whole. Curbs to contain COVID-19 have crippled activity in Thailand’s dominant in tourism sector,…
Newbuilding ordering activity in slowdown mode Newbuilding contracting has slowed down over the past couple of weeks, a development attributed by shipbroker to the usual summer lull. In its latest weekly report, shipbroker said that “the typical summer lull has seemingly taken hold of the newbuilding market as of the past week, given the considerable slowdown in fresh orders coming to light. In the dry bulk sector, we witnessed some signs of movement in the Panamax and Supramax size segments, with a couple of firm orders coming from Chinese Owners to Chinese shipyards. Moreover, given the general good sentiment in…
Iron ore price bounces back while fitch sees rally slowing ahead The most-traded iron ore for January 2022 delivery on China’s Dalian Commodity Exchange ended daytime trading up 3.7 percent at 871.50 yuan ($134.33) a tonne, after hitting its lowest since March 26 in the previous session. Iron ore prices rose on Wednesday, after five straight sessions of losses, tracking steel futures as China’s output curbs fuelled supply worries. According to Fastmarkets MB, benchmark 62 percent Fe fines imported into Northern China were changing hands for $165.48 a tonne, up 1.8 percent from Tuesday’s closing. [divider style=”normal” top=”20″ bottom=”20″] Egypt…
EVA as a Productivity Measure Measuring total-factor productivity is one of the major challenges confronting the executive in the age of knowledge work. For manual work, measuring quantity is usually sufficient. In knowledge work, we have to manage both quantity and quality, and we do not know yet how to do that. We must try to assess total-factor productivity using the common denominator of revenues and expenses. By measuring the value added over all costs, including the cost of capital, EVA (economic value added analysis) measures, in effect, the productivity of all factors of production [or the true economic costs…
Researchers identified that in early 2000s, digital payments became a worldwide phenomenon. In developing states of South Asia digital payments within the realm of Mobile Banking has presently caught more attention. With the help of digital payments, consumers pay bills for products and enterprises operate with them at the core of their business models, using various smart phones, gadgets and tablets. The benefits of digital payments are vast, when businesses and governments currently pay the cost of cash management; the benefits of going digital could save costs. A tremendous scope is seen for digital payments with the introduction of smart…
According to the Pakistan Telecommunication Authority (PTA) statistics the number of cellular subscribers in the country fell by 0.46 million to 183.48 million by end May 2021 as against to 183.94 million by end April. It may be mentioned here that a substantial number of Pakistanis even now are dependent on 2G phones for everyday use, with only 99 million using 3G/4G services with 1-2 million fixed-line internet connections. PTA also recorded that Teledensity for cellular mobile also fell from 84.11 percent by end April to 83.85 percent by end May. The total teledensity fell from 85.25 percent by end…
Deposit Distributed By Category Of Deposit Holders* (Million Rupees) Description Feb-2021 March-2021 Apr.-2021 May-2021 Jun-2021 1. Non Resident Deposits 366,712 360,675 380,288 396,655 408,322 2. Resident Deposits 16,554,735 17,055,426 16,825,649 17,048,438 18,726,948 I. Government (Including govt. trusts, NGOs, and Corporate bodies) 2,429,885 2,468,442 2,502,059 2,549,199 2,796,021 II. Non-Financial Public Sector Enterprises (NFPSE) 1,151,348 1,139,771 1,135,952 1,164,202 1,288,113 III. Non-Bank Financial Institutions (NBFIs) 452,764 734,090 554,259 507,442 876,297 IV. Private Sector (BUSINESS) 3,623,453 3,776,041 3,715,807 3,771,332 4,245,404 a. Agriculture, forestry and fishing 223,317 218,466 218,763 220,361 225,889 b. Mining and quarrying 160,851 178,621 181,588 175,490 176,117 c. Manufacturing 983,825 1,074,643 1,020,310 1,033,383…
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 ( July 16, 2021) Currency Symbol Buying Selling Australian Dollar AUD 117 119 Bahrain Dinar BHD 386.7 388.7 Canadian Dollar CAD 126 128 China Yuan CNY 23.5 23.65 Danish Krone DKK 23.2 23.5 Euro EUR 185.5 187.5 Hong Kong Dollar…
Japan stocks lower at close of trade; Nikkei 225 down 0.98pc Japan stock were lower after the close on Friday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower. At the close in Tokyo, the Nikkei 225 fell 0.98 percent. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1768 to 1674 and 305 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was unchanged 0 percent to 17.87. Crude oil for August delivery was down 0.27 percent or 0.19 to $71.46 a barrel. Elsewhere…
Prime Minister launches succession certificates initiative for Punjab Prime Minister Imran Khan presently launched the Letter of Administration and Succession Certificates Initiative for Punjab. According to the source, under the Letter of Administration and Succession Certificates Act, legal heirs can get succession certificates from the National Database and Registration Authority (NADRA) within15-day without approaching the courts. Addressing the launching ceremony in Islamabad, the Imran khan said the government of Pakistan’s goal was to facilitate the people. A government functions on taxpayers’ money, and under a social contract, it serves the people. PM said that when such a system starts decaying, the…
China’s economy is still growing. but the recovery is slowing down China’s economy is still growing, but the pace of its recovery slowed in the second quarter as the country contended with surging commodity prices and supply chain disruptions. GDP grew 7.9 percent in the April-to-June quarter compared with the same period a year ago, China’s National Bureau of Statistics said Thursday. That rate of growth was significantly slower than the 18.3 percent year-on-year increase China registered in the first quarter — though that record-breaking figure largely reflected how much the economy slumped in early 2020, as the coronavirus pandemic…
ICS reaction to EU ETS shipping extension The International Chamber of Shipping (ICS) has released a statement following the European Commission’s proposed extension of the EU’s Emissions Trading System (ETS) to cover the international shipping sector. Other than as an ideological revenue raising exercise, which will greatly upset the EU’s trading partners, it’s difficult to see what extending the EU ETS to shipping will achieve towards reducing CO2, particularly as the proposal only covers about 7.5 percent of shipping’s global emissions. This could seriously put back climate negotiations for the remaining 92.5 percent of shipping emissions. Experts know that non-EU…
Food production receives boost in Enugu, says IFAD The Enugu State Coordinator of the International Fund for Agricultural Development (IFAD), Dr. Edward Isiwu, has said food production in the state has received a major boost. Isiwu, who is the state Programme Coordinator of IFAD’s Value Chain Development Programme (VCDP), said during a media parley in Enugu that this was made possible by capacity building of rice and cassava farmers and other interventions in the state. He disclosed that the target of the organisation was to make Enugu the hub of the staple and cash crops in Nigeria, even as he…
Turbulent times ahead It turbulent times, the first task of management is to make sure of the institution’s capacity to survive a blow. In turbulent times, the first task of management is to make sure of the institution’s capacity for survival, to make sure of its structural strengths, of its capacity for survival, to make sure of its structural strengths, of its capacity to survive a blow, to adapt to sudden change, and to avail itself of new opportunities. Turbulence, by definition, is irregular, nonlinear, erratic. But its underlying causes can be analyzed, predicted, managed. But its underlying should –…
Global economists identified that sympathetic the structure, health and potential risks of an economy are significant for decision-making within an existing operating environment and also for expansion policies. Inflation, real GDP growth and exchange rate fluctuations will directly impact consumer market potential in any country. Moreover, import and export trade profiles assist gauge how open an economy is to trade and investment, while government finances can be used to explore macroeconomic stability and susceptibility to economic shocks. They also recorded that households insights can assist identify the decision-making processes and consumption tastes of dissimilar household groups within a country, and…
According to the Pakistan Bureau of Statistics (PBS) the consumer price index (CPI) inflation general, grew by 9.7 percent on yearly basis in June 2021 as compared to a rise of 10.9 percent in the previous month and 8.6 percent in June 2020. On Monthly basis, it fell by 0.2 percent in June 2021 as compared to a rise of 0.1 percent in the previous month and a rise of 0.8 percent in June 2020. The CPI inflation Urban, grew by 9.7 percent on yearly basis in June 2021 as compared to a rise of 10.8 percent in the last…
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 ( Jul 08 2021) Currency Symbol Buying Selling Australian Dollar AUD 118 120 Bahrain Dinar BHD 386.7 388.7 Canadian Dollar CAD 126.5 128.5 China Yuan CNY 23.5 23.65 Danish Krone DKK 23.2 23.5 Euro EUR 186.5 188.5 Hong Kong Dollar…
Nikkei 225 declines on delta variant concerns Tokyo’s benchmark stock index fell for a third straight day on Friday. The Nikkei Average briefly lost almost 700 points on concern about the impact of the fast-spreading Delta variant coronavirus on the global economy. Investors were also worried that a fourth pandemic state of emergency for the Japanese capital from next week will slow the country’s recovery. The Nikkei 225 finished the day at 27,940, down 0.6 percent from Thursday’s close. Analysts say investors were also worried that the decision to hold Olympic events in the metropolitan area without spectators would depress…
PM launches various mega projects in Gwadar According to the government of Pakistan, Gwadar Port is located on the shores of the Arabian Sea in Balochistan. It is about 630 km away from Karachi and 120 km from the Iranian border. It is strategically placed at the mouth of the Persian Gulf, just adjacent to the Strait of Hormuz, the key shipping route in and out of the Persian Gulf. Gwadar Port is in the process of becoming the Gateway Port for Pakistan also for the region. It is the first Deep Sea Port of the country, complementing and supplementing…
Israel, S. Korea agree Covid-19 vaccine swap Israel will deliver about 700,000 expiring doses of Pfizer-BioNTech’s coronavirus vaccine to South Korea later this month, and South Korea will give Israel back the same number, already on order from Pfizer, in September and October. South Korea has quickly distributed the COVID-19 vaccines it has, but has struggled to obtain enough doses in a timely manner amid tight global supplies, particularly in Asia. “This is a win-win deal,” Israeli Prime Minister Naftali Bennett said in a statement announcing the deal on Tuesday. “Together we will beat the pandemic.” A spokeswoman for South…
Newbuilding contracting picks up pace Proman Shipping announced signing for a further two firm 50k MRs, with delivery of both vessels set for 4Q 2023, bringing the series to six overall”. The renewal process of the global fleet has picked up pace in 2021, after a lackluster couple of years. In its latest weekly report, Clarkson Platou Hellas said that “in tankers, STX Jinhae have announced a plethora of deals this week. The yard has signed six firm 50k dwt MR’s with an unknown owner, with deliveries to begin in 2Q 2023 and run through until the end of 2023.…
Milk production increases by 100,000 tons in Rajshahi Milk production has been enhanced by around 100,000 tons while dairy farm largely expanded in Rajshahi district in last four years, delighting many people as fortune maker. In 2020, around 356,000 tons of milk was produced compared to 250,000 tons in 2016, said Ismail Haque, district livestock training officer. Dairy farming has become a blessing for people because many of them are doing business for attaining economic emancipation in the region, he said. Rabiul Karim has become an icon in the field of dairy farming in his locality at Katakhali Shyamnagar village,…
Various experts authored that wise leaders have certain leadership skills that transcend the daily requirements of a job, counting their approach to decision-making. Of course, they do not make one-sided decisions; instead, they are affected through the varying perceptions of their team also those outside the company. Their decisions are informed through their personal experience and the experience of others, and also take into account what is good not only for the company but also for society as a whole. Wise leaders model and encourage free thinking and risk-taking because they believe testing theories and arguing outcomes help cultivate wisdom…
Statistics showed that worldwide GDP is now predicted to increase by 6 percent during 2021. In Pakistan, the present report of Government of Pakistan showed that a nascent economic recovery of 3.94 percent growth in GDP is emerging in FY2021, from a pessimistic growth in FY2020. However, it is said that the fiscal framework remains under stress with higher than budgeted deficits and a resultant high debt-to-GDP ratio. Despite myriad of challenges, Pakistan’s economy is moving progressively on higher inclusive and sustainable growth path on the back of various initiatives and achievements during FY2021. Here, I would like to mention…
The Government of Pakistan recorded 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 US and China, Brexit vote for UK also rising polarization and social inequality. The pandemic has further exacerbated the prevailing trade relationships among nations. All the initiatives taken through 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 an overall decline in global output and trade…
Pakistan: Budget For The FY 2021-22 (Rs. in Billion) Resources Expenditure Tax Revenue (FBR) 5,829 A. Current 7,523 Interest Payments 3,060 Non-Tax Revenue 2,080 Pension 480 Defence Services 1,370 a) Gross Revenue Receipts 7,909 Grants and Transfers toProvinces & Others 1,168 b) Less Provincial Share 3,412 Subsidies 682 I. Net Revenue Receipts (a-b) 4,497 Running of Civil Govt. 479 II. Non Bank Borrowing (NSSs & Others) 1,241 Provision for Contingencies & Fund 25 III. Net External Receipts 1,246 Provision for Disaster / Emergency/ Covid 100 IV. Estimated Provincial Surplus 570 Provision for Pay & Pension 160 V. Bank Borrowing (T-Bills,…
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 (June 24 2021) Currency Symbol Buying Selling Australian Dollar AUD 117.5 119 Bahrain Dinar BHD 386.6 388.6 Canadian Dollar CAD 126.5 128 China Yuan CNY 23.5 23.65 Danish Krone DKK 23.2 23.5 Euro EUR 187.8 190 Hong Kong Dollar HKD…
KSE-100 rebounds with slight gain of 62 points The Pakistan Stock Exchange staged a rebound in yet another range bound session on Thursday and the KSE-100 index advanced just 62 points as investors adopted a wait-and-see strategy in view of the ongoing Financial Action Task Force (FATF) meeting. Earlier, trading began with a spike and the KSE-100 index crossed the 48,000-point mark in the initial hour. The market’s gains remained modest for most part of the day. At close, the benchmark KSE-100 index recorded an increase of 61.84 points, or 0.13 percent, to settle at 47,962.54. Overall trading volumes rose…
Imran Khan asks Bill Gates to set up incubation lab in Pakistan Prime Minister Imran Khan presently said that he asked Bill Gates if he could set up a Microsoft incubation lab in Pakistan. Imran Khan spoke with Bill Gates, co-chair of the Bill & Melinda Gates Foundation (BMGF) and both exchanged views on the ongoing polio eradication campaign in Pakistan also on Pakistan’s response to the public health challenges arising from the Covid-19 pandemic. PM stated that he spoke with Bill Gates and thanked him for the assist his foundation provided for polio eradication in the country. This time…
Emerging economic growth trends in Malaysia threatened by resurging pandemic, says latest world bank economic monitor Malaysia’s economy is projected to grow by 4.5 percent in 2021 amid a dramatic resurgence of the COVID-19 virus beginning in mid-April 2021. This recent spike in infections is raising concerns about the overall capacity of Malaysia’s health system and the effects of the ongoing cycle of opening and closing the economy on households and firms, according to the World Bank Malaysia Economic Monitor: Weathering the Surge, launched. This latest projection is lower than earlier forecasts of 6.0 percent growth, reflecting a slower pathway…
LPG shipping stocks – what lies ahead? The year 2021 has been volatile for the LPG shipping industry. VLGC rates hit a peak at USD 110,000pd in January but soon nosedived by more than 90 percent in February, with charter rates on the key AG-Japan route touching USD 6,000pd. The wild swings after subsiding in March-April resumed again in May. Similarly, LPG stocks also remained unstable/volatile, creating new highs and lows. The upswings in the wild rally and macro-economic factors such as the availability of refinancing options allowed operators to book strong results, which fuelled stock prices. Meanwhile, Asian demand…
Center-South Brazil H1 June sugar production decreases 3.4pc Sugar production in the key Center-South Brazil region is expected to total 2.472 million mt in the first half of June, down 3.4 percent year on year, an S&P Global Platts survey of 11 analysts showed June 22. Of the analysts surveyed, the cane crush estimate ranged from 36.4 million mt to 44 million mt. The average estimate was for a total cane crush of 40 million mt, a 4.4 percent drop year on year. Weather in the Center-South region was favorable for crushing during H1 June, with an estimated 2.2 days…
Famous Entrepreneur: Peter Jones International source records that with a net worth of 402 million pounds, the businessman Peter Jones attained his childhood dream of having a multi-million pound company. Presently he is the Chairman and CEO of several businesses and is also a prominent television personality. It is also recorded that he was born on 18th March 1966 in Berkshire, England. As a teenager he earned money from his two passions, tennis and business. He gave tennis lessons, being a good player himself. By 21, he got married and had his own house. He tried various ventures; Jones started…
With enhanced macroeconomic environment in Pakistan along with investments of approximately Rs 57,188 million, the management of K-Electric (KE) continued to show strong operational performance in the financial statement during the period for the nine months ended March 31, 2021 of the current fiscal, says the experts at KE. As a consequence, during the period under review, units sent out rose by 7.2 percent along with a 6.2 percent rise in units billed. This was chiefly because of growth in the industrial segment, which recorded 16 percent larger as against to the corresponding period previous year. The official of the…
Researchers believe that with the rise in energy usage by developing states, the financial crises has enveloped because of energy poverty. Issues like circular debt are now a main factor that has a drastic impact on the economic situation of such states. It is also believed that energy sector, being a main constituent of the economic structure of such states, has a main role to play for changes in economic condition. In the developing states like Pakistan, the present government is fruitfully overcoming energy crisis, which has direct and indirect impact on the whole economy, by rise in generation also…
Coal Production In Pakistan Sr. No. Province FY2020 FY2021 (July to Feb) 1. Balochistan 3,086,576 2,060,624 2. Sindh 4,414,296 3,747,144 3. Punjab 1,072,120 526,190 4. Khyber Pakhtunkhwa 257,240 41,212 5. AJ&K 272 205 6. Import 16,421,787 12,183,161 Total 25,252,291 18,558,536 Source: Ministry of Energy (Petroleum Division, Mineral Wing) [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] PAEC’s Performance Parameters Capacity (MW) Electricity sent to Grid (Million kWh) Plant Gross Net 1st July 2020 to 31st March 2021 Lifetime up to 31st March 2021 KANUPP 100 90 162 14,871 C-1 325 300 1,929…
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 ( JUNE 11, 2021) Currency Symbol Buying Selling Australian Dollar AUD 119 121 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 127.5 129.5 China Yuan CNY 23.5 23.65 Danish Krone DKK 23.2 23.5 Euro EUR 188.5 190.5 Hong Kong Dollar…
KSE-100 ends pre-budget session with clipped gains The pre-budget session at the Pakistan Stock Exchange (PSX) on Friday ended with clipped gains as investors were wary of pouring investment before assessing details of FY22 budget. Concerns over the budget announcement later in the day kept market participants on the sidelines in initial trading, however, towards the end investors offloaded their stockholdings across the board. Moreover, the rise in international crude oil prices to fresh multi-year highs on expectations of recovery in fuel demand in the United States, Europe and China supported the local oil-related sectors at the bourse. At close,…
Imran Khan’s green initiatives bring laurels for the country Recently, Pakistan hosted the World Environment Day 2021 main event, in partnership with the UN Environment Program (UNEP). As the host of the event, Prime Minister Imran Khan highlighted the local and worldwide environment degradation issues and showcased the country’s own initiatives before the world that his government was contributing to the worldwide cause. Noted environmentalist and forest expert Dr Sarwat Mirza said that hosting the World Environment Day-2021 was an unprecedented opportunity and honour for Pakistan. Furthermore, the ‘10 Billion Tree Tsunami’ initiative was perhaps the world’s largest struggle through…
End of ‘engagement’ won’t lead to U.S. business exit from China A commitment by U.S. businesses to China’s market isn’t likely to be reversed after a high-level warning that relations between the two countries had entered new territory following an extended period of geopolitical tension, a former long-time American diplomat in Greater China said in an interview. “The majority of U.S. companies are successful in China and see that success as an important contributor to their global performance,” Kenneth Jarrett, currently a senior advisor to the Albright Stonebridge Group, said. “They are not looking to exit the China market.” Kurt…
Technology is paving the way for the future of shipping Digitalization in shipping shouldn’t be regarded as a thing for the future, or some abstract idea that could (or not) offer valuable contribution to the way the industry works. It’s actually happening right now and has been for quite some time. New software and hardware are taking over, in order to assist ship owners in the way they can operate their fleets. Maritime Optima is a technology company aiming to deliver a premium service to shipowners, traders, cargo owners and brokers. The company recently signed a 5- year contract with…
Australia winter wheat crop estimate above average Australian winter wheat crop production in 2021-22 is expected to be above average due to increased planted area, according to an Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) June report. Rise in planting is attributed to favorable weather and increased global commodity prices. Jared Greenville, acting executive director of ABARES, said while the winter wheat forecast is well above average there will be differences across growing regions. “Winter crop production is forecast to be 46.8 million tonnes in 2021–22, which is below the near record high production last year but 13…
Most Inspiring Leader All Time International studies reveal that Napoleon won nearly 90 percent of his battles, a remarkable statistic for a coach, but unheard of for a military commander. Napoleon’s great adversary, the Duke of Wellington, was once asked who was the greatest general of his age. Wellington replied, “in this age, in past ages, in any age, Napoleon.” Napoleon dominated Continental Europe, developing a system of laws, administration, and education that still influences governments globally. Only a coalition of Britain, Prussia, Austria, and Russia would ultimately defeat him. What made Napoleon such an outstanding leader? His strong rapport…
Sources record that for true description of the economic performance of Pakistan, the experts need to compare the performance of economy pre and post Covid-19. Sources also presently record that Pakistan’s economy is on a solid growth path and has potential to boost at a much higher rate upcoming 5-year despite a challenging environment globally. The experts said higher GDP growth in the 5-6 percent per annum range is going to be a new normal in the next 5-year considering major economic indicators. The State Bank of Pakistan (SBP) projects 3 percent GDP growth during FY2021 and 4 percent in…
Analysis of Economic Survey of Pakistan showed that agriculture is still the largest sector of the economy of Pakistan as its contribution to GDP has gradually declined to 19.3 percent, however, there is a lot of potential in the sector to increase its share in GDP through increased productivity utilization of latest agricultural technologies. Statistics showed that performance of Kharif crops during FY202; rice production grew by 2.9 percent to 7.410 million tons and maize production by 6.0 percent to 7.236 million tons while cotton production fell by 6.9 percent to 9.178 million bales and sugarcane production decreased by 0.4…
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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 27, 2021) Currency Symbol Buying Selling Australian Dollar AUD 119 121.5 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 128 130 China Yuan CNY 23.5 23.65 Danish Krone DKK 23.2 23.5 Euro EUR 188.5 191 Hong Kong Dollar…
Metals, financials drag indices; Sensex falls 338 pts, Nifty holds 14,900 Benchmark indices turned sharply lower during the fag-end of the session, after staying flat for better part of the day, as US stock futures indicated a weak session on Wall Street. Dalal Street investors took cues from Dow Jones Futures, that tumbled nearly 200 points in early pre-market deals, and booked profit largely in metal, financials, and FMCG counters. S&P 500 and Nasdaq Futures also slipped 20 points and 60 points, respectively, suggesting a third straight session of declines in the US. That apart, weekly expiry of the F&O…
Imran Khan inaugurates 1,100 mw Chinese-built nuclear power plant Recently, Prime Minister of Pakistan Imran Khan virtually inaugurated the Karachi Nuclear Power Plant (NPP) Unit-2 (K-2), a third-generation state-of-the-art plant with improved safety systems. Sources record that the ceremony was simultaneously held at K-2 NPP, Karachi and in Beijing, China, and also marked the 70th anniversary of the establishment of diplomatic relations between the two countries. Speaking on the occasion, Imran Khan said he was happy that the K2 nuclear plant is being inaugurated on the 70th anniversary of Pak-China diplomatic relations “Clean energy is very important for us,” he…
China’s economic recovery slows in April after q1 boom China’s economy has slackened in April from the jump seen in the previous month as factory output slowed and retail sales missed analyst expectations, indicating more pressure on the recovery in consumption. Industrial production grew 9.8 percent in April from a year ago, slower than the 14.1 percent surge in March, National Bureau of Statistics (NBS) data showed on Monday but matching a consensus forecast by analysts from a Reuters poll. China’s gross domestic product (GDP) expanded by a record 18.3 percent in the first quarter and many economists expect growth…
Ports & terminals vs shipping lines: do investors favour the latter? With hindsight, it can easily be illustrated that even though macro-economic hindrances originate from different sources, they all tend to challenge (in one form or the other) the established rules. By now, we all must have read a lot about the pandemic and its related effects and should be comfortable classifying FY20 as one of the strangest years in human history. Even though consumer confidence took a beating, economic stimulus and altered buying patterns kept the ball rolling. The shipping industry, which forms the kernel of international trade, too…
Wild coffee: improving the coffee industry Coffee is an important commodity globally, but its main markets are the rich, developed countries in Europe and North America. In 2019, the global coffee market had an estimated value of an astounding $102.15 billion. The production of coffee beans is climate-specific and the plants are grown in developing countries in South and Central America, the Caribbean, Africa and Asia. The entire process of cultivating and producing coffee impacts the lives of more than 120 million workers and their families. It is closely related to rural development and poverty. The coffee industry also has…
Most inspiring leader of all time International sources reveal that very few individuals personify dedication and patience like Nelson Mandela, South Africa’s first democratically elected President. Getting there was a story so epic that it was made into a Hollywood biopic in 2013. Much like Martin Luther King, Jr., Mandela was one of the great transformative civil rights leaders of the 20th century. Nelson Mandela not only directed peaceful demonstrations against the deeply racist South African government, he went on to claim the Nobel Prize in 1993 for assisting to end apartheid. Nelson Mandela was neither a politician nor an…
Despite the Covid-19 prevails in Pakistan since 2020, the Securities and Exchange Commission of Pakistan (SECP) recorded in its report that SECP continued to build momentum by launching facilitative measures for stakeholders, strengthening enforcement function and enable innovations. While some regional markets faced challenges of operability, the capital market in the country stayed completely operational in 2020 inspite of extreme volatility, mainly in March last year. Improvements in the risk management framework by introduction of market halts and phased widening of circuit breakers from 5 percent to 7.5 percent initiated in December, 2019 proved to be a timely initiate. Simultaneously,…
The impact of Covid-19 pandemic is pervasive when viewed by a migration lens as it affects migrants and their families who rely on remittances. The World Bank continues working with partners and states to keeps the remittance lifeline flowing. International reports note that in various countries annual transfers of money through foreign migrant workers to their home countries play a chief role. These remittances offer income support for family members back home and, in some scenarios, offer funding for start-ups. It is also noted that remittances are also a source of foreign exchange reserves for developing countries including Pakistan and…
Pakistan: Workers’ Remittances (Million US Dollars) Item Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 I. Cash Flow 2,284.0 2,284.2 2,338.8 2,437.1 2,273.6 2,265.9 2,724.9 1. USA 180.4 183.3 185.2 203.3 203.2 210.8 283.3 2. U.K. 289.3 278.5 286.3 326.9 303.0 349.2 371.2 3. Saudi Arabia 665.8 634.8 615.1 624.8 553.6 532.6 690.4 4. U.A.E. 473.0 504.1 519.5 511.6 492.5 488.0 589.7 Dubai 364.1 442.4 452.3 452.1 434.5 429.5 454.2 Abu Dhabi 91.8 55.3 60.7 51.5 50.5 51.7 126.7 Sharjah 10.7 4.7 4.6 5.5 5.7 5.2 6.9 Others 6.4 1.7 1.9 2.5 1.8 1.6 1.9 5. Other GCC Countries 261.4 272.8…
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 29 2021) Currency Symbol Buying Selling Australian Dollar AUD 117.5 119.5 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 122.5 124.5 China Yuan CNY 23.5 23.65 Danish Krone DKK 23.2 23.5 Euro EUR 185 187 Hong Kong Dollar HKD…
Win streak may continue for China stock market The China stock market has finished higher in three straight sessions, collecting almost 35 points or 1 percent along the way. The Shanghai Composite Index now rests just beneath the 3,475-point plateau and it may extend its gains on Friday. The global forecast for the Asian markets is upbeat thanks to solid earnings news and rising crude oil prices. The European markets were down and the U.S. bourses were up and the Asian markets are tipped to follow the latter lead. For the day, the index gained 17.83 points or 0.52 percent…
PM Imran Khan introduces Kisan Card Realising the potential of agriculture and taking cognizance of the issues related to agriculture sector, the PM Imran Khan has said that the government’s historic initiative of Kisan Card would transform the agriculture sector in Pakistan, making farmers prosperous. Addressing the distribution ceremony of the first phase of Kisan Cards to offer agriculture loans for farmers in Multan, Imran Khan said the step would assist eradicate poverty of around 5.0 million farmers in Pakistan. Giving strength to farmers means making Pakistan strong, Imran Khan said, adding that the government is firm to bring an…
Philippine economy seen to grow by 4.5 pc The Philippine economy is foreseen to grow by at least 4.5 percent this year and 5.5 percent in 2022, according to an Asian Development Bank report released Wednesday. Public spending on infrastructure and social assistance, better pandemic response, substantial progress in vaccination rollout and a steady recovery in global economy will boost growth this year and the next, according to the Asian Development Outlook 2021. Household spending, exports and remittances are also expected to grow this year, ADB Philippines Country Director Kelly Bird told reporters in a virtual briefing. [divider style=”normal” top=”20″…
Checks and balances on container rates In shipping there have been clear winners and loser in the global war against the Covid-19 pandemic. In the latter camp sit cruise ships and to some extent tankers, who have seen earnings spike from storage demands only to fall back as international oil demand waned. In prime position in the winners’ circle are container ships. Freight rates have climbed ever higher since the start of the pandemic and while they were starting to settle towards the end of the first quarter, the mishap with the Ever Given in the Suez Canal gave them…
Iron ore price surges to record high Iron ore prices jumped to a fresh high on Monday on robust Chinese demand. Iron ore futures on the Dalian Commodity Exchange, for September delivery, closed 4.3 percent higher at 1,145 yuan. The contract jumped 6.3 percent earlier. According to Fastmarkets MB, Benchmark 62 percent Fe fines imported into Northern China (CFR Qingdao) were changing hands for $193.58 a tonne on Tuesday, up 3.93 percent from Friday trade. The high-grade Brazilian index (65 percent Fe fines) also advanced to a record high of $226.90 a tonne. “Iron ore prices are mainly supported by…
Most inspiring leader all time BILL GATES is the co-founder of Microsoft Corporation and one of the world’s most prominent individuals, who was born in Seattle, Washington. Bill Gates is one of the most inspiring figures in history, he has had a life packed with achievements. Have a look here and you will find everything that you’ve ever wanted to know about Bill Gates’ life and achievements! Bill Gates is an American programmer, entrepreneur, investor and philanthropist, co-founder of Microsoft: the premier software company in the world. With an estimated $90.6 billion in net worth, Gates is the world’s, second-richest man.…
During holy month of Ramazan, Muslims across the world spend their time fasting, praying, giving back to the community and introspecting. Ramazan is the most auspicious time of the year and is observed with full enthusiasm through the Muslim community globally. Ramazan is the ninth month of the Islamic calendar and holds greater significance as it is the first time when Allah SWT (God) revealed the Quran to holy Prophet Muhammad (PBUH). The fasting during this month is considered as one of the 5-pillars of Islam. According to the Economic Survey FY2020 of Pakistan the subject of Zakat was devolved…
Statistics show that in Pakistan the composition of Islamic banking industry (IBI) stayed similar with 22 Islamic banking institutions comprising 5 full-fledged Islamic banks (IBs) and 17 conventional banks having standalone Islamic banking branches (IBBs) at the end of December 2020. Despite Covid-19 pandemic condition in Pakistan experts reveal that the Islamic banking sustained a strong growth during previous year as the Government of Pakistan borrowed over Rs 700 billion from Shariah-compliant banks during the year to partly finance its budget deficit and to reduce circular debt in the energy sector. Statistics released by the State Bank of Pakistan (SBP)…
Islamic Banking In Pakistan (As of December 30, 2020) Type Bank Name Azad Kashmir Baluchistan Federal Capital Gilgit- Baltistan KPK* Punjab Sindh Grand Total Islamic Banks AlBaraka Bank (Pakistan) Ltd. 3 6 6 3 16 100 47 181 BankIslami Pakistan Limited 4 14 9 4 22 100 78 231 Dubai Islamic Bank Pakistan 7 5 15 3 10 86 84 210 Meezan Bank Limited 6 27 38 3 57 432 252 815 MCB Islamic Bank Limited 2 13 9 1 15 85 63 188 IBs – Total 22 65 77 14 120 803 524 1,625 Standalone Islamic Banking Branches of…
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 Currency Rate As Per Open Market ( APR 23 2021) Currency Symbol Buying Selling Australian Dollar AUD 117 119 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 121 123 China Yuan CNY 23.5 23.65 Danish Krone DKK 23.2 23.5 Euro EUR 183.25 185 Hong Kong Dollar HKD…
Taiwan stock market tipped to reverse Wednesday’s losses The Taiwan stock market on Wednesday ended the five-day winning streak in which it had advanced more than 490 points or 2.9 percent. The Taiwan Stock Exchange now sits just above the 17,200-point plateau although it’s tipped to find renewed support on Thursday. The global forecast for the Asian markets is positive after a couple of days of weakness, although sinking crude oil prices may cap the upside. The European and U.S. markets were up and the Asian markets are tipped to follow suit. The TSE finished modestly lower on Wednesday as…