Prime Minister launches scholarship program Presently PM Imran Khan in Pakistan launched the Rehmatul-Lil Alameen scholarship program for intermediate and undergraduate students in Islamabad. It is said that the scholarships would be available to all the people in the country counting non-Muslims. Statistics show that the federal government will yearly offer Rs 5.5 billion for 70,000 scholarships. PM Imran said that a total of 350,000 scholarships would be provided during the next 5-year at a cost of Rs 28 billion under the initiative. The Provincial governments of Punjab and KPK will also separately offer scholarship to the students. Imran Khan…
Author: S. Kamal Hayder Kazmi
China’s economy roars ahead as engine for global growth China’s economic indicators for the first quarter of 2021 have been released. At an annualized rate, the economy grew 18.3percent from January through to April, facilitating a complete economic recovery as the world deals with the disruption of COVID-19, and consumption reasserts itself, registering the highest tally since 1993. In line with the GDP figures, industrial output increased 24.5 percent from last year, exports by 38.7 percent, imports 29.2 percent, retail sales of consumer goods 33.9 percent, and fixed-asset investment by 25.6 percent, all positive indicators showing a healthy and resilient…
Lockdowns hinder the demolition market once again The ships’ recycling market has sustained a halt over the past days, as a result of Ramadan holidays and the raging pandemic in India and large parts of Southeast Asia. In its latest weekly report, shipbroker said that having entered the holy month of Ramadan and lockdown restrictions across the Indian sub-continent looking set to continue due to a surge in domestic cases, many buyers seem to be coming more cautious due to the unpredictable nature of the Pandemic and subsequent effect to local sentiment and commodity markets. These current events may make…
Could Iraq really become OPEC’s largest oil producer? Iraq’s Oil Minister, Ihsan Abdul-Jabbar, announced last week that the country plans to increase its oil production capacity to 8 million barrels per day (bpd) by 2029, compared to current production of around 3.8 million bpd that factors in OPEC-mandated cuts. Based on its vast oil resources there is no insurmountable reason why this output level should not be attained by that time or indeed even the 9 million bpd or 11 million bpd that were posited by the International Energy Agency in its 2012 production scenario analysis for Iraq. Even the…
Most inspiring leader of all time 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…
The Government of Pakistan joined a United Nations public advocacy campaign ‘Only Together’ which calls for covid vaccination to be obtainable to everyone and everywhere to contain the deadly pandemic. No doubt, it is pivotal to control the pandemic for quick recovery of the virus-hit global economy. Moreover, Prime Minister Imran Khan had also called for equitable distribution of coronavirus vaccine. Back in January, the Prime Minister, at the fourth session of the United Nations Conference on Trade and Development (UNCTAD) in Geneva, called for proposing an equitable supply of the coronavirus vaccine in the developing states. Health experts urge…
According to the World Health Organization (WHO), at least half of the world’s population still lacks access to necessary health services; greater than 800 million people spend at least 10 percent of their household income on health care, and out of pocket expenses drive almost 100 million people into poverty each year. As states move forward post-COVID-19, it will be vital to avoid cuts in public spending on health and other social sectors. Such cuts are probable to raise hardship among already disadvantaged groups, weaken health system performance, raise health risks, add to fiscal pressure in the future and undermine…
COVID-19 in Pakistan (April 10, 2021) Details Confirmed cases Active cases Deaths Recoveries AJK 14,260 2,083 395 11,782 Balochistan 20,178 643 213 19,322 GB 5,103 88 103 4,912 Islamabad 64,902 13,063 601 51,238 KPK 97,318 12,253 2,586 82,479 Punjab 245,923 38,780 6,908 200,235 Sindh 268,284 6,168 4,523 257,593 [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] Pakistan: Regional Countries Human Development Indicator Country Country Life expectancy at birth, total (years) Infant Mortality Rate (per 1,000 live births) Maternal Mortality Rate (Per 100,000) Under 5 Mortality Rate (Per 1,000) Population growth (annual %) 2016 2017 2018 2016 2017 2018 2015 2016…
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 ( Apr 08 2021) Currency Symbol Buying Selling Australian Dollar AUD 115 116.5 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 119.5 121.5 China Yuan CNY 23.5 23.65 Danish Krone DKK 23.2 23.5 Euro EUR 180.5 182.5 Hong Kong Dollar…
KSE-100 breaches 45,000-point mark The stock market continued its recovery on Friday with the benchmark KSE-100 index recouping another 445 points on last trading day of the week as positive macros once again helped the index surpass the 45,000-point mark. A surge in foreign exchange reserves, which rose above $16 billion on Thursday with the receipt of $2.5 billion via Eurobond issue, played the role of a catalyst in the bullish close at the Pakistan Stock Exchange. Last week, Pakistan entered the international capital market after a gap of over three years by successfully raising $2.5 billion through a multi-tranche…
Prime Minister Imran Khan’s Green Stimulus Initiative Presently the World Bank (WB) has proclaimed all-out financial and technical support to Prime Minister Imran Khan’s nationwide initiatives for environmental conservation and protection and improved disaster resilience, mainly Green Stimulus one, said country director of the bank Najy Benhassine. Leading a Work Bank delegation, Najy Benhassine called on Malik Amin and conveyed the bank’s all-out support to Pakistan’s green post-pandemic economic recovery initiative and afforestation and nature conservation programmes, mainly Green Stimulus project. He said $120 million funding pledged through the bank for this initiative had already been accepted and could be…
China economy 2021: latest economic data about world’s second-largest economy China’s economic data paints a comprehensive picture of the state of the world’s second-largest economy. This includes figures pertaining to gross domestic product (GDP), the consumer price index (CPI), the producer price index (PPI), industrial production and profits, purchasing managers’ indices (PMI), retail sales, foreign exchanges reserves, imports and exports, as well as the trade balance. However, the accuracy of official Chinese economic data has been called into question, given the lack of transparency in how it is generated. China’s economy grew by 6.5 percent in the fourth quarter of…
Dry bulk market dynamics shifting Demand for second hand dry bulk tonnage has been rising of late, with shipowners’ focus being the Handysize and Supramax sectors. In its latest weekly report, it is said that following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a few things about the SnP market behavior. Interestingly, the dry secondhand market remained hot amid the holidays, with Handysize and Supramax sectors attracting the majority of buyers’ interest. Handysize in particular, have rebounded strongly both interest wise and asset value wise…
U.S. ethanol production up, stocks down The U.S. Energy Information Administration says production averaged 975,000 barrels a day, up 10,000 on the week and 303,000 on the year, one of the first weeks blending demand concerns connected to COVID-19 impacted the industry. Last week’s average was 27,000 barrels below the week ending April 5th, 2019. The Renewable Fuels Association says net inputs by refiners and blenders and the volume of gasoline supplied to consumers were below the previous week, but above this time last year. Ethanol stocks of 20.642 million barrels were the lowest since mid-November 2020, falling 472,000 barrels…
Most Inspiring Leader Of All Time 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…
According to the Economic Survey FY2020, stable inflation is always linked with well growth and development outcomes. Price stability not only declines uncertainty but also offers multi-dimensional optimistic impacts on economic, social, and psychological spheres of all segments of the society, mainly poor families. Prior to the COVID-19 outbreak, the Government of Pakistan was no doubt making attempts to stabilize the inflationary pressure that originated from requisite adjustment strategies. Thus, the spike in inflation which appeared because of energy tariff adjustments and the adoption of market-based exchange rate was flattened out mostly because of the government steps taken for price…
Studies reveal that for a long time Pakistan’s external sector remained under pressure. Export were on a downward trajectory, while import increased considerably. The main causes linked with falling exports were currency overvaluation, domestic energy crises, worldwide market contraction, falling international commodity prices, competitiveness crises mainly between Pakistan and major export competitors. Pakistan Exports Details %Change for value in million Rupees in February, 2021 over January, 2021 February, 2020 Knitwear -10.85 16.61 Readymade garments -16.25 -12.28 Bed wear -7.87 1.91 Cotton cloth -2.19 -18.79 Cotton yarn 39.44 27.05 Rice others -2.99 -8.15 Towels -12.03 -0.55 Basmati Rice -15.24 24.73 Madeup…
Pakistan Trades (US$ MN) Period Exports (BOP) Growth Rate Imports (BOP) Growth Rate Balance of Trade Value Cumulative Value Cumulative a b Monthly Period to Period c d Monthly Period to Period a-c b-d Jul-17 1,817 1,817 -3.6 20.5 4,799 4,799 -3.8 53.9 -2,982 -2,982 Aug-17 2,090 3,907 15.0 16.1 4,530 9,329 -5.6 32.6 -2,440 -5,422 Sep-17 1,743 5,650 -16.6 11.8 3,884 13,213 -14.3 30.0 -2,141 -7,563 Oct-17 1,960 7,610 12.4 10.6 4,395 17,608 13.2 29.1 -2,435 -9,998 Nov-17 2,173 9,783 10.9 11.9 4,515 22,123 2.7 25.8 -2,342 -12,340 Dec-17 2,008 11,791 -7.6 10.9 4,297 26,420 -4.8 22.0 -2,289 -14,629…
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 In Pakistan (Mar 18 2021) Currency Symbol Buying Selling Australian Dollar AUD 119.5 121.5 Bahrain Dinar BHD 393.3 395.3 Canadian Dollar CAD 123 125 China Yuan CNY 24.85 25 Danish Krone DKK 22.95 23.25 Euro EUR 184 186 Hong Kong Dollar…
Canada stocks-bank stocks, dismal retail sales data drive TSX lower Canada’s main stock index fell on Friday, pressured by weakness in energy and bank stocks, while data showed domestic retail sales fell in January further denting sentiment. The energy sector dropped 0.8 percent as a new wave of coronavirus infections across Europe triggered fresh lockdowns, while the financials sector slipped 0.7 percent. Domestic retail sales fell 1.1 percent to C$52.55 billion ($42.07 billion) in January compared with the previous month, as provincial governments began re-introducing health restrictions to combat resurgence in coronavirus cases, Statistics Canada said. The Toronto Stock Exchange’s…
Prime Minister Of Pakistan Prime Minister Imran Khan has launched “Koi Bhooka Na Soye” programme under the umbrella of the Ehsaas poverty alleviation. One of the cornerstones of the ruling government manifesto is to rid Pakistan of poverty and PM Imran has tried aggressively to push initiatives for the common man. Under the programme, mobile vans would visit dissimilar regions of main cities to feed poor and underprivileged people. Initially, it has been launched in the federal capital and would soon enlarge to other cities of Pakistan. Addressing the launching ceremony in Islamabad, Prime Minister regretted that there were many…
Korea’s economy to normalize in growth, but must watch debt: AMRO South Korea’s economy is set to return to its normal growth pace of around 3 percent this and next year, but it must watch ballooning debt level, advised ASEAN+3 Macroeconomic Research Office (AMRO), a regional macroeconomic research agency on Thursday. Asia’s fourth largest economy is expected to stay on a fairly solid recovery path until 2022, according to AMRO’s assessment after its annual consultation visit to Korea. After contracting by 1.0 percent last year, the Korean economy is projected to grow 3.2 percent this year and 3.0 percent next…
Global Maritime Industry Scrap prices should rise in order to attract more tonnage says shipbroker An underwhelming demolition market has been the norm so far this year, despite expectations that a lackluster freight market, mainly for tankers, could increase tonnage sold for scrap. However, this hasn’t been the case so far, not to mention that owners of bulkers and containers prefer to keep them in the market, due to improved freight rates. Scrapyards have already hiked prices offered for tonnage, by 10 percent since the start of the year, with shipbrokers expecting this to increase even further. In its latest…
Commodities In 2021 How India’s rice production can adapt to climate change challenges As the global population grows, the demand for food increases while arable land shrinks. A new University of Illinois study has investigated how rice production in India can meet future needs by adapting to changing climate conditions and water availability. “Rice is the primary crop in India, China, and other countries in Southeast Asia. Rice consumption is also growing in the US and elsewhere in the world,” said Prasanta Kalita, professor in the Department of Agricultural and Biological Engineering at the University of Illinois and lead author…
The Entrepreneurial Mindset 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…
Studies reveal that the worker’s remittances are considering second largest source of finance in developing countries after foreign direct investment (FDI). The worker’s remittances are positive as well as significant with GDP growth and also playing an active role in Pakistan economy. Impact of financial sector on GDP growth is also positive and significant as trade openness and world growth GDP. Presently, Pakistanis earning their bread and butter abroad have sustained the flow of strong remittances, as they remained over $2 billion, to their families and friends in January, assisting Pakistan strengthen its foreign currency reserves and enhance its capacity…
The Government of Pakistan officials recorded in their report that not only population size but its characteristics also play a vital role in the development of country. Thus, with regards to the rising population in terms of age also in size, the capability of country for offering social protection, health care, education and other basic services such as housing, sanitation, water, food, becomes an issue. Our country is the fifth most populous country globally. According to the National Institute of Population Studies the estimated population of Pakistan in 2019 is 211.17 million. Hence, population density stands at 265 per km…
Naya Pakistan Certificates Naya Pakistan Certificates (NPCs) are sovereign instruments, denominated in USD and PKR, issued by Government of Pakistan for overseas Pakistanis. Resident Pakistanis who have declared assets abroad with FBR can also invest in USD-denominated NPCs. To do so, they can open a Roshan Digital Account in foreign currency by visiting a bank branch in Pakistan. Special Certificates:Special USD and PKR denominated bills issued by MOF and administered by SBP Different Tenors:3, 6, 12 month; 3, 5 year Early encashment allowed Fully Repatriable:No approvals required for remitting funds abroad Very attractive Risk-free returns:USD: 5.5, 6, 6.5%; 6.75, 7%…
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 (Fri, Mar 05 2021) Currency Symbol Buying Selling Australian Dollar AUD 119.5 121.5 Bahrain Dinar BHD 402.8 404.8 Canadian Dollar CAD 122.5 124.5 China Yuan CNY 24.9 25.05 Danish Krone DKK 24.45 24.75 Euro EUR 186.75 188.75 Hong Kong Dollar…
Global Stock Market Trading U.S. stocks close sharply higher in volatile trade U.S. stock benchmarks rebounded sharply Friday afternoon in whipsaw trade, as the rise in bond yields steadied, after a stronger-than-expected monthly jobs update from the Labor Department that offered evidence of an economy recovering from the effects of COVID-19. All major sectors in the S&P 500 index gained while the tech-heavy Nasdaq climbed more than 1.5 percent as giants Amazon.com Inc. and Apple Inc. recovered but the index still closed lower for the week. The Dow Jones Industrial Average DJIA, +1.85 percent closed higher by 572.16 points, or…
Prime Minister Of Pakistan Presently the government of Pakistan record that fruits of prudent strategies of the incumbent government started producing their impacts as economic indicators moving towards optimistic sign. No doubt, COVID-19 is having a devastating impact on Pakistan’s economy; however, to ascertain the true extent, it is significant to take stock of economic presentation of Pre-COVID-19, fundamentally for two causes; to explore economic outcomes in relation to the policy environment adopted and second, what trajectory of economic recovery we expect post COVID-19. More recently sources record that Prime Minister Imran Khan called upon the Economic Cooperation Organisation (ECO)…
South Korea economy shrank in 2020 for first time in over two decades South Korea’s central bank says the country’s economy shrank for the first time in 22 years in 2020 as the coronavirus pandemic destroyed service industry jobs and depressed consumer spending. Preliminary data released by the Bank of Korea on Thursday showed the country’s gross domestic product last year contracted 1 percent from 2019. It was the first annual contraction since 1998, when South Korea was in the midst of a crippling financial crisis. The economy would have been even worse if not for the country’s technology exports,…
Lack of tonnage prevalent in the demolition market Alack of tonnage is becoming evident in the ship recycling market, as the firming up of the freight market has limited selling opportunities among ship owners. In its latest weekly report, shipbroker said that with owners still enjoying the fruits of the continued firm freight markets, particularly in the dry sector, the alarming lack of tonnage in the market gives a barren feel to discussions. There seems to be no stimulus at present, with the industry crying out for a spark which could ignite a flurry of transactions. The only glimmer of…
Heavy rain dampens Bangladesh rice production Heavy rain has impeded Bangladesh’s rice production for the 2020-21 marketing year, according to the Foreign Agricultural Service (FAS) of the US Department of Agriculture (USDA). Heavy rains and flooding in June and July 2020 led to a 15 percent rice crop loss, increasing rice prices in the second half of 2020. The USDA forecasts Bangladesh’s rice production to total 34.8 million tonnes in the 2020-21 marketing year, a 2.93 percent decrease compared to the previous year. Rice imports are expected to be 600,000 tonnes to replenish the country’s publicly held rice stocks and…
Most inspiring leader of all time 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…
Statistics identify that the exports of sports goods recorded a fall of 14.03 percent during the first 5-month of the ongoing fiscal 2020-21 as against to the exports of the same period of last year. Sources said that as the world of sports slowly reopens after a month-long hiatus, the Government of Pakistan otherwise is thriving sports industry which is struggling to recover from the hit it has taken from pandemic COVID-19 restrictions. Unluckily dozens of sprawling warehouses in the city of Sialkot are littered with millions of footballs, hockey sticks, cricket bats, tennis balls, and other games-related goods after…
International studies reveal that over the last 30 years, the postal sector has been undergoing a paradigm shift, from a relic of the industrial era to a facilitator of exchanges of goods and messages in the era of worldwide Internet connectivity. It is also said that the transformation has taken place from a perspective of both demand and supply. In this transition period, opportunities abound and various remain untapped. Besides adapting to the rapidly altering environment, postal strategy makers and operators have also driven these alters, first through separating posts from telecommunications, and then – mainly in industrialized states –…
PSL-Teams (2021) Peshawar Zalmi Karachi Kings Islamabad United Quetta Gladiators Lahore Qalandars Multan Sultans [divider style=”normal” top=”20″ bottom=”20″] Highest Totals In PSL Team Total Opponent Season Islamabad United 238/3 Lahore Qalandars 2019 Peshawar Zalmi 214/5 Islamabad United 2019 Lahore Qalandars 209/5 Quetta Gladiators 2020 Lahore Qalandars 204/4 Multan Sultans 2019 Quetta Gladiators 203/8 Lahore Qalandars 2016 [divider style=”normal” top=”20″ bottom=”20″] Highest Individual Score In PSL Batsman Runs Balls Opponent Venue Season South Africa Colin Ingram (KK) 127 59 QG Sharjah Cricket Stadium 2019 South Africa Cameron Delport (IU) 117 60 LQ National Stadium 2019 Pakistan Sharjeel Khan (IU) 117 62…
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 in Pakistan (Feb 19 2021) Currency Symbol Buying Selling Australian Dollar AUD 122 124.5 Bahrain Dinar BHD 403.8 405.8 Canadian Dollar CAD 124 126 China Yuan CNY 24.95 25.1 Danish Krone DKK 24.7 25 Euro EUR 190.5 192.5 Hong Kong Dollar…
KSE-100 reverses bearish trend After receding for two successive days, the benchmark KSE-100 index of Pakistan Stock Exchange (PSX) reversed its trend on Friday and edged up about 80 points in topsy-turvy trading. The KSE-100 index opened up and continued to rise during the day as market participants remained optimistic. However, selling pressure emerged in the second half of trading, which wiped off most of the gains. Nevertheless, the KSE-100 managed to close in the green with some gains. At close, the benchmark KSE-100 index recorded an increase of 84.91 points, or 0.18%, to settle at 46,227.65 points. Overall trading…
PRIME MINISTER OF PAKISTAN PM thanks expats for success of RDAs Different sources record that remittances sent to the country by Roshan Digital Accounts (RDAs), the latest initiative of Prime Minister Imran Khan Government to attract more foreign exchange, witnessed good response from Pakistan’s diaspora as remittances crossed $500 million by this new channel. Imran Khan thanked Pakistanis working abroad for supporting the government’s initiative as the momentum is picking up with more and more people opening digital accounts. So far, it is said that overseas Pakistanis across 97 states have opened up nearly 88,000 Roshan Digital Accounts. These Accounts…
Japan’s economy performed better than expected in last quarter The world’s third-largest economy grew by an annualised 12.7 percent in October-December compared with the previous three months, government data showed on Monday, marking the second-straight quarter of expansion and exceeding a median market forecast for a 9.5 percent gain. The growth rate was a marked slowdown from a revised 22.7 percent surge in the previous quarter, when the economy got a lift from pent-up demand after a previous state of emergency was lifted in May. For a straight quarter-on-quarter comparison, gross domestic product (GDP) increased by 3.0 percent, the Cabinet…
Moody’s: global shipping industry’s strong performance in 2020 set to continue Although the container shipping industry was hit hard by the pandemic in the first half of 2020, the industry managed to stage a turnaround to become one of the best performing nonfinancial corporate sectors globally last year. There were three main reasons for this: disciplined capacity management by carriers which supported freight rates, low fuel costs and a quick rebound in demand in the latter part of the year. We believe that high demand and elevated freight rates will persist for at least the next six months and possibly…
Sugar prices to remain high on fall in production The Government of Pakistan may not succeed in bringing sugar prices down in the near future at least, as a leading sweetener producer said prices would remain high due to a notable drop in fresh production and a substantial increase in cost of production during the current season. “… sugar prices in the market will naturally remain on the higher side,” JDW Sugar Mills, owned by PTI stalwart Jahangir Khan Tareen, said in a report to the Pakistan Stock Exchange on Feb 2. “(The) government as usual wants the sugar industry…
Most inspiring leader of all time Matthew Boulton was a pioneer in manufacturing, he was far from wealthy; his father was a toy maker at the time of his birth. Matthew attended a local school and upon leaving; he joined his father’s business. At the age of 21yrs Matthew married Mary Robinson the daughter of a wealthy Mercer (Mercer; a silk, linen and fustian textile merchant). Eventually he took charge of his father’s business (1757) When his father died, he later gained interest in precious metals; leaving behind the toy trade altogether. With a new trade under his belt Matthew…
Statistics show that during July-December of fiscal year 2020-21, Pakistan has received $5.7 billion in external loans from multiple financing sources. Total inflows were 46 percent of the annual budget estimate of $12.2 billion for the ongoing fiscal year. In December, the Government of Pakistan received $1.2 billion in foreign loans, counting $434 million from commercial banks, which are the most expensive loans. Out of the $5.7 billion, an amount of $2 billion or 36 percent of the total loans were on account of foreign commercial loans. Researchers reveal that Pakistan over the years has failed to collect enough revenues…
No doubt, the Pakistan’s banking sector has played an important role in continuing the Pakistan’s economic system during pandemic, which can be mostly attributed to the digital banking revolution. The Government of Pakistan focuses towards the adoption of digital banking during the past year. Whether it was the easy, timely and secure transmission of monetary assistance to the underprivileged masses of the country. According to the State Bank of Pakistan (SBP), Pakistan banking sector deposits during 2020 grew by 22 percent to hit an 18-year high at Rs 17.876 trillion. Despite a significant rise in deposits, the banks failed to…
Credit/Loans Classified By Borrowers In Pakistan* (Million Rupees) Description Sep-20 (R) Oct-20(R) Nov-20(R) Dec-20(P) 1. Credit to Government Sector (A+B) 15,005,562 14,974,023 14,919,380 15,178,639 A. SBP Credit to Government Sector (Net) 6,244,544 6,329,892 6,126,305 5,941,522 Investment in Govt. Securities 7,076,025 7,109,127 7,172,331 6,975,812 Loans to Government 62,957 42,721 43,874 42,962 Others 9,789 9,789 9,789 9,789 Less: Govt. Deposits 904,227 831,745 1,099,689 1,087,041 B. Scheduled Banks Credit to Government Sector (Net) 8,761,018 8,644,130 8,793,075 9,237,117 Investment in Govt. Securities 10,294,844 10,176,018 10,344,995 10,826,372 Loans to Government 832,045 821,637 813,543 823,391 Less: Govt. Deposits 2,365,870 2,353,525 2,365,462 2,412,646 2. Credit to Non…
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 Open Market Forex Rates In Pakistan (7/2/2021) Currency Buying Selling Australian Dollar 120 122 Bahrain Dinar 405.3 407.3 Canadian Dollar 123.5 124.5 China Yuan 24.9 25.05 Danish Krone 24.7 25 Euro 191 193 Hong Kong Dollar 17.6 17.85 Indian Rupee 2.17 2.24 Japanese Yen 1.55 1.58 Kuwaiti…
Sensex has a bumper week: surges nearly 4,500 points in just 5 days Indian stock markets extended gains to the fifty day with benchmark index Sensex rising 117 points after the Reserve Bank kept interest rates unchanged but continued its accommodative stance to revive growth. The 30-share BSE benchmark briefly crossed the 51,000 level, before ending 117 points higher at its fresh closing record of 50,731.63. Similarly, the 50-share NSE Nifty scaled the 15,000 mark during the day but shed some ground to close at its all-time closing high of 14,924, up 0.2 percent. In just five days, the Sensex…
PRIME MINISTER OF PAKISTAN *Imran Khan kicks off Covid-19 vaccination drive in Pakistan International sources record that various coronavirus (Covid-19) vaccines presently have now been approved for use, either through individual countries or groups of countries, like the European Union and the World Health Organization (WHO). Statistics show that of the 61 countries and territories administering vaccines and publishing rollout data, 45 are high-income nations, 16 are middle-income and none are low-income. More recently, the first Covid-19 vaccine was also administered in Pakistan, given to a healthcare worker in Islamabad. Prime Minister Imran Khan kicked off the vaccination drive, reminding…
Russia’s losing bet on China in a post-covid world Russia’s economy made out better than expected during the crisis last year. Aggregate GDP only dropped in the range of 3.5-4 percent despite worse forecasts. The Kremlin made do with relatively limited crisis spending measures, betting on China and other economies to recover quickly enough to isolate the economic damage instead. Although oil and natural gas – still Russia’s primary exports – took a shellacking until the last few months of the year, Moscow lucked out: A broad range of non-oil and gas commodities including gold entered a bull market by…
Bio-lng fuel seen as ‘prime pathway’ to carbon neutrality The gradual introduction of bio-LNG alongside synthetic LNG is expected to incrementally decarbonise shipping towards IMO’s 2050 target of reducing greenhouse gas (GHG) emissions by 50 percent compared to 2008 levels. In a recent report by SEA-LNG, it was noted that LNG as a marine fuel has moved from being a niche option to a mainstream fuel of the future. Instead of avoiding making a decision and waiting for technologies to develop in the future, LNG enables shipowners to reduce emissions now while protecting the future. The report noted the need…
US whole wheat flour output falls in 2020 Whole wheat flour production in 2020 totaled 20.12 million cwts, down 10 percent from 22.359 million cwts in 2019, according to data from the National Agricultural Statistics Service of the US Department of Agriculture. The production total was the smallest for any year since the USDA began tracking whole wheat production data 6 years ago. Whole wheat flour production has now fallen three consecutive years and four of the last five. The year-to-year drop of 2.119 million cwts in 2020 followed more modest production decreases of 104,000 cwts in 2019 and 176,000…
Most inspiring leader of all time Nelson Mandela 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…
Analysis of Economic Survey of Pakistan FY 2020 revealed that Liquefied Petroleum Gas (LPG) plays a significant role in the energy mix of the country as it offers a cleaner alternative to biomass-based sources, mainly in locations where natural gas is not available. LPG is gradually becoming popular domestic fuel among people who live in far-flung areas and where natural gas infrastructure does not exist. It an emerging sector of energy in the country and Oil and Gas Regulatory Authority (OGRA) is empowered to regulate the LPG sector under the OGRA Ordinance, 2002 and LPG (Production & Distribution) Rules, 2001…
The Government of Pakistan is preparing a latest automobile policy that will focus on facilitating the manufacturing of low-cost cars, as the present Auto Development Policy (ADP 2016-21) is about to end in June 2021. Sources recorded that about 45 percent of a car price that a buyer pays goes to the Government of Pakistan in the form of duties and taxes. The Government of Pakistan also charges duties on imported CKDs, which are the auto parts used in assembling cars. Statistics showed that the customs duty on import of localised parts is 45 percent. The duty on non-localised parts…
Import Payments By Transport And Petroleum Groups In Pakistan (Thousand US Dollar) Details Jul-20 ( R) Aug-20 ( R) Sep-20 ( R) Oct-20 Nov-20 ( R) Dec-20 ( P) a. Transport Group 131,403 95,945 166,536 154,199 181,981 266,594 1. Road Motor Vehicles 89,737 70,292 98,498 116,275 145,994 187,551 1.1 Completely Built Unit (CBU) 9,540 6,615 5,697 11,456 16,251 32,355 A. Buses,Trucks & Oth. Heavy Vehicle 5,914 2,964 4,983 5,354 6,368 12,375 B. Motor Cars (CBU) 3,558 3,644 457 5,681 9,859 19,896 C. Motor Cycles (CBU) 68 7 257 421 24 84 1.2 Completely Knock Down (CKD) 59,766 51,951 79,829 89,701…
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 23 2021) Currency Symbol Buying Selling Australian Dollar AUD 122.5 124.5 Bahrain Dinar BHD 405.8 407.8 Canadian Dollar CAD 124.5 127 China Yuan CNY 24.9 25.05 Danish Krone DKK 25 25.3 Euro EUR 193.5 195.5 Hong Kong Dollar…
Policy rate, tariff concerns pull KSE-100 down The Stock Market once again turned bearish on Friday as investors were concerned about the monetary policy announcement later in the day by the State Bank of Pakistan. The central bank left the benchmark policy rate unchanged at 7 percent for the next two months. At close, the benchmark KSE-100 index recorded a decrease of 116.42 points, or 0.25 percent, to settle at 45,868.04 points. The KSE-100 index recorded across-the-board selling on concern over the monetary policy decision, which was announced in the last hour of trading, and redemption from mutual funds. Overall,…
Prime Minister Of Pakistan PM Imran Khan rolls out ‘Raast’ initiative to move to cashless economy The Government of Pakistan took another step towards the digital world presently with the launching of Raast – Pakistan’s first instant payment system that enabled end-to-end digital payments among individuals, businesses and government entities within seconds. Prime Minister Imran Khan launched the Raast at a ceremony. The initiative is part of the prime minister’s “Digital Pakistan Vision” aimed at including the poor segments of society in the formal economy. It is said that Raast is a big step towards realising Pakistan’s potential; it will…
China still needs Australia to power its economic recovery China and Australia spent much of last year in a tense standoff on trade. But as the recovery of the world’s second largest economy gathers pace, China needs more iron ore and Australia is still its main supplier. Beijing on Monday reported that China’s GDP grew 2.3 percent last year, averting the recession that gripped much of the world as the coronavirus pandemic spread. GDP in the fourth quarter grew by 6.5 percent, compared with a year earlier. Of big help was the Chinese government’s decision to invest heavily in infrastructure…
Global milk supply growth forecast to slow in 2021 Despite the disruption to food markets by coronavirus early in the year, dairy markets recovered quickly and remained surprisingly robust through 2020. This resulted in better than expected growth in milk deliveries, which are estimated to have increased by just under 4.9bn litres (1.7 percent) in 2020 compared to 2019. Government support packages were put in place in most of the key dairy producing regions, protecting consumption of dairy through income support or direct purchases. The EU and Argentina experienced much higher growth rates than predicted, although all regions except Australia…
Most inspiring leader of all time Martin Luther King Jr. It is said that very few Americans are as celebrated as Martin Luther King Jr., (MLK) the Baptist minister and social activist who led in the United State the Civil Rights Movement until his tragic death during 1968. As an African-American born in the rural south during 1929, MLK faced an uphill battle all his life. Growing up in Atlanta, Georgia, the young Martin was considered a precocious student who paid little attention to his studies and found great discomfort in religion. That all started to change in his junior…
The experts record that Pakistan’s cement industry has recorded a healthy growth during the first nine months of fiscal year July-March FY2020. Cement sector performance has backed through the increased exports mostly clinker which went up by 100 percent during the period. Domestic demand for cement has picked up the pace as Government of Pakistan increased the development expenditures and enhanced remittances inflow may also have uplifted private construction activities. Moreover, statistics show that the cement industry in the country kicked off the FY20-21 on an exciting note. During the first six months of the current fiscal year, total cement…
Presently, China-Pakistan Economic Corridor (CPEC) has become a household word in Pakistan. It has attained significant milestones through joint efforts of the governments, enterprises, and people of both countries-Pakistan and China. The economists of Pakistan record that the economy of Pakistan was moving towards stabilization. Business confidence was recovering and prices have started settling down, twin deficits were under control and economy was slowly moving towards sustainable growth when the shock of the COVID-19 outbreak hit the economy. As far as the CPEC is concerned it is very important to increase the economic growth of Pakistan. The economists also mention…
Pakistan: Cement Industry Analysis July to June Production % age Local % age Exports % age Total % age Capacity Surplus Capacity Incr/(Dec) Despatches Incr/(Dec) Incr/(Dec) Despatches Incr/(Dec) Utilization Capacity (Mn. Tonnes) (Mn. Tonnes) (Mn. Tonnes) (Mn. Tonnes) (Total) % age (Mn. Tonnes) 1991 8.89 0.00% 7.29 0.00% – 0.00% 7.29 0.00% 81.99% 1.60 1992 8.89 0.00% 7.71 5.79% – 0.00% 7.71 5.79% 86.74% 1.18 1993 8.89 0.00% 8.32 7.94% – 0.00% 8.32 7.94% 93.62% 0.57 1994 9.05 1.77% 8.14 -2.26% – 0.00% 8.14 -2.26% 89.92% 0.91 1995 10.17 12.43% 8.38 3.00% – 0.00% 8.38 3.00% 82.37% 1.79 1996 10.17…
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 08 2021) Currency Symbol Buying Selling Australian Dollar AUD 122 124 Bahrain Dinar BHD 405.8 407.8 Canadian Dollar CAD 124 126 China Yuan CNY 24.5 24.65 Danish Krone DKK 25.35 25.65 Euro EUR 194 196.5 Hong Kong Dollar HKD…
The FTSE 100 had a stellar first week of 2021 The FTSE 100 roared ahead in the first week of 2021, jumping more than 6 percent compared to increases of roughly 0.13 percent on the US’s S&P 500 and 1 percent on Germany’s Dax. A number of factors have driven the FTSE higher: the signing of a post-Brexit trade deal with the EU; the approval and rollout of coronavirus vaccines; and the Democrat victories in the Georgia Senate runoff elections in the US. Each of these promise to aid an economic recovery in 2021 that will help the industrial, financial,…
Prime Minister Of Pakistan *Pakistan’s success story with Imran Khan in 2020 The government of Prime Minister Imran Khan has handled the economic impact of pandemic with effective strategies and emerged successful during tough times in 2020 as well. No doubt, the year 2020 has known to be a tale of challenges worldwide. The Outline of the significant milestones mention below achieved through the government of Pakistan during last year along with a set of the Prime Minister’s New Year resolutions for year 2021: Health Sehat Sahulat Card for entire Punjab (end of year 2021), entire KP including ex-FATA merged…
World Bank prediction on Bangladesh economy inconsistent: Finance Minister Finance Minister AHM Mustafa Kamal has said the World Bank is not consistent in its prediction about Bangladesh’s economy. “Sometimes, they make a prediction and then frequently shift positions,” he told reporters after a meeting of the Cabinet Committee on Public Purchase. His remarks come against the backdrop of World Bank’s forecast that Bangladesh’s GDP growth will be 1.6 percent in the fiscal year 2020-21 when the government set it at 7.4 percent in the national budget. On the economic performance, Mustafa Kamal said Bangladesh has been doing better compared to…
Global Maritime Industry Ocean shipping companies lead the fight against the empty container build-up The willingness of shipping lines to make direct cost outlays and forego revenue to reduce the empty container backlog shows the incredible support being given by ocean carriers to keeping Australia’s supply chain functioning. Empty container congestion has been a problem at major ports all round the world. This is a result of unprecedented consumer demand driven by a Covid-induced shift from spending on services to spending on goods. In Sydney, the problem was exacerbated by weather events and industrial action. Carriers are being limited to…
Defra cut UK harvest 2020 wheat production estimate: feed market report UK ex-farm grain prices gained throughout December. With spot feed wheat quoted at £197.60/t and feed barley at £143.30/t, on 31 December. This has increased the discount of feed barley to feed wheat even further, now at £54.30/t. UK wheat has been following global grain prices up due to a very tight domestic supply, this has been supporting feed barley prices. On 22 December, Defra released their final estimates for the 2020 UK crop. Reductions were seen for both wheat and barley production. The largest decline was for wheat,…
Most inspiring leader of all time Winston Churchill is long remembered as one of the greatest leaders in modern history and the savior of democracy. He was tasked with the daunting task of leading Britain and the Allied powers to victory against the Nazis during the Second World War. His wisdom, upright character and persistence led Britain from the brink of defeat to victory in the most brutal war of the 20th century. Winston Churchill was born to an aristocratic family in 1874 and served in the British military. He would go on to become a prolific writer before entering into…
International research reveal that science, technology and innovation no doubt have become main factors contributing to economic growth in both advanced and developing states. In the knowledge economy, information circulates at the global level by trade in goods and services, direct investment and technology flows, and the movement of citizens. The Research also identify that the Information technology (IT) has been at the heart of economic changes for more than a decade. This sector plays a significant role, notably through contributing to rapid technological progress and productivity growth. The Companies use information technology to organize transnational networks in response to…
Presently the Government of Pakistan is intending to introduce renewable energy in Pakistan in phases where the first phase expects 20 percent by 2025. No doubt, Pakistan is successfully overcoming energy crisis, which has direct and indirect impact on all sectors of the economy, by raise in generation as well as in transmission capacity of the system. Pakistan’s new Renewable Energy Policy is predicted to attract investment opportunities because of transparent policies of the government. The Government of Pakistan has set ambitious targets to introduce 25 percent renewable energy by 2025. Sources recorded that further 30 percent renewable energy would…
Pakistan: Exports And Imports Of Goods & Services (As Per BPM6) (Million US$) Description Jul Aug Sep OctR NovP FY21 FY21 FY21 FY21 FY21 Goods and Services Balance (A-B) -2,018 -1,829 -1,950 -1,792 -1,949 1. Goods – Export (FOB) 1,897 1,510 1,956 1,960 2,227 2. Exports of Services 405 357 459 430 507 1. Manufacturing Services on Physical inputs owned by Others 0 0 0 0 0 2. Maintenance and Repair Services n.i.e. 0 0 0 0 0 3. Transport 34 33 36 30 30 4. Travel 25 24 33 40 47 5. Construction 9 14 7 10 9 6.…
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 ( DEC 26, 2020) Currency Symbol Buying Selling Australian Dollar AUD 119 121 Bahrain Dinar BHD 405.8 407.8 Canadian Dollar CAD 121 123 China Yuan CNY 25 25.15 Danish Krone DKK 25.45 25.75 Euro EUR 192 194 Hong Kong Dollar…
Bulls maintain hold, lift KSE-100 by 329 points Investors’ sentiment remained bullish at the Pakistan Stock Exchange on Thursday as the benchmark KSE-100 index gained 329 points ahead of a long weekend. During the session, the country achieved the milestone of $200 million worth of inflows into Roshan Digital Accounts and the news mainly fueled the market’s uptrend. On the back of investor optimism, index-heavy automobile, cement and financial sectors closed with handsome gains. Foreign institutional investors, however, divested over Rs2 billion worth of shares, thus capping gains. Earlier, trading began with a jump and the KSE-100 index managed to…
Massive Honey Production Initiative by PM Imran Khan Prime Minister Imran Khan has launched a billion tree honey initiative hoping to raise the Pakistan’s forest cover with a focus on the production of honey while creating new green jobs and enhancing the Pakistan’s economy. Imran Khan revealed the country’s sweet ambitions at the launch ceremony saying the honey production drive would benefit the local community where the plantation will take place and “also assist enhance the environment, enhance exports, and create career opportunities for the youth. When local people will see the advantages and earn income, they will protect forests…
Thailand’s economic outlook for 2021 The Thai economy will grow next year after contracting by almost 10 percent this year. Next year, the Thai economy is expected to expand 3 to 4 percent from this year. It will not be until the end of 2022 before the Thai economy returns to its pre-Covid level of 2019. However, if there is another wave of Covid-19 in Thailand, or if effective vaccines are delayed, the recovery could be slower than anticipated. The recovery is contingent upon a rebound in tourism and exports. Should large-scale vaccination become available by June 2021, large, advanced…
Dry bulk market expected to rebound during 2021 The dry bulk market could be heading towards a renewed wave of demand for raw materials, as the global economy is expected to grow once more after the pandemic. In its latest weekly report, shipbroker said that as we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to break a nine year record with iron ore imports increasing this year to above one billion tons. The outlook on the market price of iron ore is also strong,…
Commodity markets in 2020 The mystery behind rising iron ore prices Over the past couple of months, the steel industry has witnessed constant dialogue between iron ore miners and steel producers, aimed at reaching common ground on the availability of a key commodity for manufacturing steel—iron ore. While manufacturers of the alloy have gone up to the Prime Minister’s Office (PMO) seeking a ban on exports of iron ore citing sky-high prices, miners of the key raw material—whose pellets form about 60 percent of the cost of production of steel—claim that steel mills have been importing iron ore to suppress…
Most inspiring leader of all time Quaid-i-Azam Muhammad Ali Jinnah The Nation celebrated the birth anniversary of the Founder of Pakistan Quaid-i-Azam Muhammad Ali Jinnah on 25th December 2020 across the country with traditional zeal and fervour. Mohammed Ali Jinnah was an Indian politician who successfully campaigned for an independent Pakistan and became its first leader. He is known there as ‘Quaid-I Azam’ or ‘Great Leader’. Jinnah was born on 25 December 1876 in Karachi, now in Pakistan, but then part of British-controlled India. His father was a prosperous Muslim merchant. Mohammed Ali Jinnah studied at Bombay University and at…
According to the State Bank of Pakistan’s (SBP) present Special Section on Covid-19 and the need to boost digital connectivity in the country, Pakistan’s e-commerce market is predicted to have enlarged to Rs 234.6 billion in FY20 during the pandemic. On yearly basis, the sector witnessed growth of up to 55.5 percent. It is recorded that while economies in the world had to adapt to this sudden disruption in the usual business activities because of the Covid-19, the country’s retail and e-commerce sector has also witnessed this shift towards online solutions to meet their customers’ requirements. SBP also recorded that…
Government of Pakistan has been reviving industrialization yet, as the only procedure to alleviate poverty and attain inclusive growth by wealth creation. It is said that this is the first government which has a strategy to industrialize and incentivize through promoting ease of doing business to raise investment and alleviate poverty in Pakistan. No doubt, international experts recorded that the world is marked through huge inequalities. The effects of the disparities are multifaceted, and they are constantly present in the interplays between states, regions, and the whole world with its markets, trade patterns and political structures. But it also affects…
Corona Virus Symptoms It can take up to 14 days for symptoms of coronavirus to appear. The main symptoms to look out for are: FEVER – this means you feel hot to touch on your chest or back (you do not need to measure your temperature). It is a common sign and also may appear in 2-10 days if you affected. COUGHING – this means coughing a lot for more than an hour, or 3 or more coughing episodes in 24 hours (if you usually have a cough, it may be worse than usual). SHORTNESS OF BREATH – Around 1…
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 ( Dec 12, 2020) Currency Symbol Buying Selling Australian Dollar AUD 118.5 120.5 Bahrain Dinar BHD 403.8 405.8 Canadian Dollar CAD 123 125 China Yuan CNY 24.5 24.65 Danish Krone DKK 25.15 25.45 Euro EUR 192 194.5 Hong Kong Dollar…
Taiwan stock has a green light for Monday’s trade The Taiwan stock market bounced higher again on Friday, one session after ending the two-day winning streak in which it had jumped almost 270 points or 2 percent. The Taiwan Stock Exchange now rests just above the 14,130-point plateau and it’s looking at a steady start again on Monday – although it may see profit taking later in the day. The global forecast for the Asian markets is positive on optimism for economic stimulus and a coronavirus vaccine. The European and U.S. markets were up and the Asian bourses figure to…
Imran Khan inaugurates Pakistan’s new private airline AirSial International Experts record in today’s world, aviation facilitates access to countries and cities, increases multi layered efficiencies in travel and makes safety and security in travel top priorities. The aviation sector is rapidly taking gender equality at heart. Aviation is therefore ideally positioned to support the innovation discourse and its potential impacts on new mobility. Aviation has truly has been at the forefront of innovation to become one of the safest and most reliable modes of transportation in the world today. Statistics showed that the volume of air traffic is surprising to…