According to the statistics released by the Pakistan Bureau of Statistics (PBS), the Large-scale Manufacturing Industries (LSMI) production increased by 5.02 percent on a year-on-year basis during the first month (July) of the current fiscal year (FY21) as against to the same month of previous year. Statistics also showed that the LSMI Quantum Index Number (QIM) was registered at 134.14 points in July 2020, against 127.73 points in July 2019. The highest rise experts recorded of 2.25 percent was witnessed in indices monitored by the Ministry of Industries, followed by 1.77 percent rise in indices monitored by the Provincial Board…
Author: S. Kamal Hayder Kazmi
Benchmark KSE-100 index falls 105.14 points to settle at 41,701.23 In line with the performance during the week, the stock market once again slipped into the red zone in range-bound trading on Friday and lost about 100 points. The benchmark KSE-100 index opened downwards and despite brief spikes, it continued its march towards south. Persistent selling pressure pushed the index downwards. At close, the benchmark KSE-100 index recorded a decrease of 105.14 points, or 0.25 percent, to settle at 41,701.23 points. Oil and gas marketing companies led the volumes with 64.1 million shares changing hands, followed by vanaspati firms (47.5…
*PM Imran Khan proposes measures to curb illicit financial flows Addressing a high-level panel on FACTI (Financial Accountability, Transparency and Integrity) on the sidelines of the ongoing United Nations General Assembly session, Prime Minister of Pakistan Imran Khan said the international community must take decisive actions to halt what he called bleeding of the poor and developing countries. The Prime Minister’s Office said the event was organised to current interim report of the FACTI panel, which identified main gaps in implementation and systemic shortcomings of the existing international frameworks for tax cooperation, anti-corruption [and] anti-money laundering. Khan said Pakistan appreciated…
Indonesia sees economy contracting for first time since 1998 Indonesia’s economy is set to contract for the first time since the Asian financial crisis more than two decades ago as the country struggles to get virus cases under control. Gross domestic product is forecast to decline 0.6 percent to 1.7 percent this year, Finance Minister Sri Mulyani Indrawati said Tuesday at a briefing in Jakarta. The government previously had estimated the economy could grow 0.2 percent or shrink by as much as 1.1 percent. [divider style=”normal” top=”20″ bottom=”20″] Taiwan’s economy, trade break-off from mainland a dream: experts The Chinese foreign…
Ship owners looking for more deals in the dry bulk segment Ship owners are actively looking for more deals in the dry bulk S&P market. In its latest weekly report, Intermodal said that it was another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction in dry trade freight rates, there is still ample purchasing appetite displayed from interested parties, while vessel values – more or less – remain stable. It is said that in the Capesize front, clients of Berge Bulk are linked to the…
Commodity markets in 2020 Oil prices slide on Libyan export talks, surging European virus cases Oil declined as Libya signaled the resumption of some crude exports, while surging coronavirus cases clouded the outlook for demand and weighed on risky assets. Futures in New York fell 2.1 percent toward $40 a barrel. Libya is moving closer to reopening its battered oil industry after it told companies to resume production at some fields that are free of foreign mercenaries and fighters. This will add to already rising supply from OPEC+ nations, and comes as virus infections are starting to increase again in…
Leadership and motivation The Success of the entire business depends on the most important resource of any organization which is certainly human resources. They are creators and makers of new technical, technological and organizational solutions, creators of new values, controllers of working process and development of business systems. The key question is: who will manage human resources and motivate them so that the whole organization performs better. Leadership is one influence, one work of art and the process of impact on people, in sense that those who are affected are voluntarily and willingly participating in the creation of new values…
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 (Rs) ( Sep 11 2020) Currency Symbol Buying Selling Australian Dollar AUD 118 119 Bahrain Dinar BHD 421 423 Canadian Dollar CAD 125.5 128.5 China Yuan CNY 24.1 24.25 Danish Krone DKK 25.55 25.85 Euro EUR 194 196 Hong…
Pakistan: Workers’ Remittances (Million US Dollars) Item Mar-20 Apr-20 May-20 Jun-20 FY20 Jul-20 I. Cash Flow 1,901.06 1,790.05 1,866.37 2,466.28 23,120.97 2,768.13 1 USA 359.60 401.91 421.98 451.95 4,163.39 250.60 2 U.K. 247.55 226.60 284.82 401.04 3,465.61 393.91 3 Saudi Arabia 452.28 451.37 436.15 619.43 5,432.63 821.55 4 U.A.E. 421.82 353.80 323.37 431.68 4,662.52 538.19 Dubai 288.57 255.28 238.75 322.99 3,207.46 443.13 Abu Dhabi 123.59 88.60 76.40…
International experts revealed that falling remittances may affect sovereign ratings by external finances and economic growth. Remittances are a key source of foreign currency receipts. As a consequence, lower remittances would most likely widen current account deficits, contributing to higher external financing needs. Unluckily Covid-19 pandemic is crippling the economies of rich and poor countries alike. Yet for many low-income and fragile states, the economic shock will be magnified through the loss of remittances — money sent home by migrant and guest workers employed in foreign countries. Remittances should enhance beginning in 2021, but the recovery is probable to be…
The Analysis of Economic survey of Pakistan FY2020 showed that broad money enlarged by Rs 1,481.3 billion during 01 Jul-24 Apr, FY2020 against with Rs 540.6 billion previous year. This higher money growth was because of to a sharp expansion in the NFA of the banking system, mainly of the State Bank of Pakistan (SBP). Net Foreign Assets (NFA) point contribution has grown to 5 percent during the period under review against with the negative growth of 5.6 percent in the corresponding period last year. NDA point contribution reached at 3.3 percent reflecting government spending to fight against the Covid-19…
Renewed selling pressure predicted for Taiwan stock market The Taiwan stock market has finished higher in two of three trading days since the end of the two-day slide in which it had stumbled more than 150 points or 1.1 percent. The Taiwan Stock Exchange now rests just above the 12,690-point plateau although it figures to head south again on Friday. The TSE finished modestly higher on Thursday following gains from the financial shares and a mixed picture from the technology stocks. For the day, the index gained 83.17 points or 0.66 percent to finish at 12,691.75 after trading between 12,650.40…
*Prime Minister rubbishes mindset doubting patriotism of dual national Pakistanis Prime Minister Imran Khan rubbishing the mindset doubting the patriotism of dual nationals, said Pakistan should better create conducive conditions for the expatriates to tap that valuable asset. “I can’t understand why the people label the dual nationals as traitors. They just went abroad as we could not give them jobs. Now as they have qualified (in their fields) abroad, we don’t have matching jobs for them here. They are an asset for us. We will just have to facilitate them,” the prime minster said while addressing the launching ceremony…
Japan’s worst postwar economic downturn could force new leader to boost stimulus Japan’s economy sank deeper into its worst postwar contraction in the second quarter as the coronavirus jolted businesses more than initially thought, underscoring the daunting task the new prime minister faces in averting a steeper recession. Other data put that challenge in perspective, with household spending and wages falling in July as the impact of the pandemic kept consumption frail even after lockdown measures were lifted in May. The world’s third-largest economy shrank an annualised 28.1percent in April-June, more than a preliminary reading of a 27.8percent contraction, revised…
An EU ETS for shipping would undermine a global GHG solution Yesterday the World Shipping Council published a paper highlighting serious concerns for maritime trade and global efforts to reduce greenhouse gas emissions if the EU expands its Emissions Trading System (ETS) to include international shipping. The WSC paper focuses on a critical threshold issue for application of the EU ETS to shipping: geographic scope. The most-discussed geographic application of the EU ETS to shipping is to mirror the scope of existing EU legislation on Monitoring, Reporting and Verification (MRV) of carbon emissions. The EU ETS has been described as…
Commodity Markets In 2020 Sugar industry needs to outsource field production, upgrade technology Sugarcane is one of the highest yielding crops for producing biofuel in the world. In Brazil sugarcane’s total energy content is 437.7 GJ/ha with only Oil Palm in Indonesia coming close at 329.2 GJ/ha. Corn falls intermediate between these two. Sugarcane is one of the most efficient plants on earth and has a photosynthetic efficiency of 1 to 2 percent. With good soil, tested varieties and excellent management production techniques assisted with advanced crop monitoring apps, sugarcane production should be in the vicinity of 80-110t/ha. Some sources…
Leadership and motivation The Success of the entire business depends on the most important resource of any organization which is certainly human resources. They are creators and makers of new technical, technological and organizational solutions, creators of new values, controllers of working process and development of business systems. The key question is: who will manage human resources and motivate them so that the whole organization performs better. Leadership is one influence, one work of art and the process of impact on people, in sense that those who are affected are voluntarily and willingly participating in the creation of new values…
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 (Sep 01 2020) Currency Symbol Buying Selling Australian Dollar AUD 120.5 123 Bahrain Dinar BHD 421.5 423.5 Canadian Dollar CAD 125 128 China Yuan CNY 24.25 24.4 Danish Krone DKK 25.7 26 Euro EUR 198 201 Hong Kong Dollar…
Key Information including window Takaful for the period ended March 31, 2020 (Business underwritten inside Pakistan) (PKR in ‘000) Name of Companies Premium/ Contribution Premium Written Contribution underwritten Total Premium incl. Takaful Cont Net Premium Revenue Net Contribution Revenue Tot. Net Prem. Inc. Taka Cont. Rev. Adamjee Insurance 2,833,839 500,052 3,333,891 1,816,516 184,896 2,001,412 Alfalah Ins. Co 1,025,227 153,332 1,178,559 451,894 74,549 526,443 Allianz EFU Health 876,459 94,826 971,285 335,328 33,675 369,003 Asia Insurance 101,878 15,352 117,230 121,766 6,068 127,834 Askari Gen. Insc. 513,735 91,690 605,425 471,408 24,464 495,872 Atlas Insurance 825,141 68,426 893,567 336,349 30,622 366,971 Century Insurance 237,018…
The studies revealed that insurance is one of the main and significant fields of the economy. To protect people from risks and from dangers is the main part of the insurance. As we know in modern period there are too many accidents, bad events and unexpected dangers. These risks can happen every time and unpredicted in life. Truly speaking, people always think about this problem, how to escape from these risks. For this cause insurance is considered the best tool for these problems. People use insurance to keep their assets and life under guarantee. So, insurance gained popularity globally. Insurance…
The people every day receive injuries in a road accident due to various reasons mainly high speeding as it is one of the most dangerous habits on the road. In Pakistan speeding has become so commonplace that most of the time we don’t even give a second thought to someone that is traveling above the speed limit. Globally 1.25 million people die according to World Health Organization (WHO), in road traffic accidents every year and about 50 million sustain injuries. Statistics also revealed that road accidents in the last 10 years in Pakistan, 7,000 to 10,000 people die every year…
KSE-100 inches upward in volatile session Investor sentiment turned slightly bullish at the stock exchange on Monday, fuelled by hopes for a lower inflation reading for August 2020, which aided the market to close up by 55 points in a tumultuous trading session. Market participants pinned their hopes on an expected drop in the inflation rate for August, which may lead to a further reduction in the policy rate in the monetary policy announcement in September. In addition to that, the rupee staged a modest recovery against the US dollar in the past few days, lending support to the market.…
*PM Imran wants Karachi Transformation Plan to be finalised in 1-week Prime Minister Imran Khan has directed the Ministry of Planning, Development & Special Initiatives to finalise the proposed ‘Karachi Transformation Plan’ after taking all stakeholders on board so that it can be accepted and implemented without further delay. Imran Khan issued these directives during a detailed briefing given to him, which was attended by Minister for Planning, Development & Special Initiatives, Governor Sindh Imran Ismail, Minister for Maritime Affairs Syed Ali Zaidi, Chairman NDMA Lt. Gen. Muhammad Afzal, secretaries of relevant ministries and senior officers in person and through…
Asia-Pacific Region New Chinese rules could complicate a sale of Tiktok’s US business China appears to have complicated efforts to sell TikTok to an American company by introducing new rules that could allow Beijing to veto any potential deal. The twist in the TikTok saga stems from notices published by the Chinese government on Friday, when officials revised rules that govern the sale of certain kinds of technology to foreign buyers. The updated list includes data processing, speech and text recognition — the kind of tech that experts say is used by the popular short-form video app. The announcement marked…
The end of the US shipping tax exemption for Hong Kong On 19 August 2020, the US State Department announced the “suspension or termination” of various agreements with Hong Kong, including the termination of the bilateral, US-Hong Kong International Shipping Agreement, which relates to the tax treatment of shipping income. This is the one of the most recent examples of the Trump Administration’s ongoing efforts to eliminate certain differential treatment of Hong Kong compared to the People’s Republic of China. The US State Department made the announcement following President Trump’s Executive Order 13936 (July 14, 2020) which, among other things,…
Crude oil demand reaches plateau Global oil demand growth is expected to taper off, Julianne Geiger said quoting the latest report from IHS Markit, the world’s largest energy consultancy. Global oil demand is currently sitting at 89 per cent of pre-pandemic levels, it said. It is then expected to rise and level off at between 92pc and 95pc of the demand pre-pandemic. Oil demand growth, therefore, will wane and plateau through Q1 2021 as fewer people are commuting to work, and as air travel slumps considerably amid remaining travel restrictions and people’s subdued appetite for air travel—particularly international air travel,…
Leadership and Motivation The Success of the entire business depends on the most important resource of any organization which is certainly human resources. They are creators and makers of new technical, technological and organizational solutions, creators of new values, controllers of working process and development of business systems. The key question is: who will manage human resources and motivate them so that the whole organization performs better. Leadership is one influence, one work of art and the process of impact on people, in sense that those who are affected are voluntarily and willingly participating in the creation of new values…
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 (Aug 15 2020) Currency Symbol Buying Selling Australian Dollar AUD 119.5 123 Bahrain Dinar BHD 427 429 Canadian Dollar CAD 124 128 China Yuan CNY 24.2 24.35 Danish Krone DKK 25.8 26.1 Euro EUR 196 199 Hong Kong Dollar…
Production Of Selected Large-Scale Manufacturing In Pakistan (during Jul – May 2020) Items Adjusted Weights Percentage Change Items Adjusted Weights Percentage Change FY20 FY19 FY20 FY19 Textile 29.74 -10.66 -0.10 Iron & Steel Products 7.67 -17.02 -10.78 Cotton Yarn 18.43 -11.02 0.02 Pig iron 2.25 0.00 0.00 Cotton Cloth 10.22 -10.82 0.12 Billets/Ingots 2.17 -19.36 -24.66 Jute Goods (Total) 0.47 -3.83 -8.01 H/C.R.Sheets/Strips/Coils/plates etc 3.25 -15.30 3.20 Woollen & carpet yarn 0.47 17.82 1.27 Fertilizers 6.31 5.64 6.97 Woolen & worsted cloth 0.12 -54.75 -29.05 Phos. fertilizers 0.57 -1.98 2.53 Knitting wool 0.02 -42.27 -8.77 Nit. fertilizers 5.75 6.58 7.55…
During the first nine months of fiscal year July-March FY2020, the Pakistan’s cement industry recorded a healthy growth. Cement sector performance has backed through the increased exports chiefly clinker, which went up by 100 percent during the period under review. Local/domestic demand for cement also picked up the pace as government raised the development expenditures and enhanced remittances inflow may also uplifted private construction activities. Statistics showed that the new fiscal year has kicked off on an upbeat note for the cement sector as its sales soared through a healthy 37.8 percent to 4.838 million tons in July 2020 from…
The present government of Pakistan statistics showed that, took over $13 billion in foreign loans in the previous fiscal year — the second highest amount in history — to repay maturing external debt and cushion the shrinking foreign exchange reserves. According to facts and figures compiled by the Ministry of Economic Affairs, during FY2019-20 that closed on June 30, Pakistan received $13.2 billion worth of gross loans from bilateral and multilateral lenders counting IMF and commercial creditors. With the fresh borrowing, statistics showed that Pakistan has received a whopping $29.2 billion in foreign loans in the past two years, counting…
US indexes recover as S&P lingering below record highs The S&P 500 was near flat, hovering below record highs, on Friday as data showed the US economy was still hurting from the COVID-19 pandemic, adding to uncertainty over the recovery. Aggressive stimulus measures have helped the three main US stock indexes bounce back from a coronavirus-driven crash in March, and the S&P 500 briefly traded above its Feb. 19 record close for a second straight day on Thursday. But the index has been unable to finish above the record, partly as prospects of more fiscal aid have faded with the…
*PM holds telephonic conversation with Maldivian President Prime Minister Imran Khan in a phone call to Maldivian President Ibrahim Mohamed Solih emphasised the need for stronger ties between the two countries. PM reaffirmed Pakistan’s desire to work with the Maldives to strengthen mutually beneficial cooperation, bilaterally and in the region,” the Prime Minister Office (PMO) said in a statement. Mr Solih tweeted: Had a very engaging phone conversation with Pakistan’s PM this afternoon in which we updated each other on COVID 19 measures in our respective countries and also, how we could further improve the already warm and fraternal relations…
Asia-Pacific Countries 2020 Indonesian economy contracts for first time in over two decades As a result of the global coronavirus pandemic, Indonesia’s economy has suffered its first contraction in more than two decades. The steep decline in economic activity this year has had an impact far greater than previously anticipated, with the threat of recession looming. Indonesia, Southeast Asia’s largest economy, saw its gross domestic product (GDP) shrink by 5.3 percent year-on-year in the second quarter, according to data from Statistics Indonesia released last Wednesday. The country’s last contraction occurred in the first quarter of 1999, at the tail-end of…
Worldwide shipping industry “In the doldrums” International Experts revealed that few new vessels are built and the scrapping rate is high. Times are tough for yards and manufacturers as demand is low. Many of them are on the verge of bankruptcy and competition is fierce. For most of the yards, the main focus is on retrofitting. Prices of HFO and MGO follow the oil price and stay at a high and increasing level in 2020 and beyond. MGO remains the most expensive, at approximately 50 percent above the HFO price, whereas LNG is decoupled from the oil price and trades…
World Commodities Trading Oil prices and consumption A huge number of pundits and organizations have trumpeted the idea that the pandemic will accelerate the peak in world oil demand, due to a combination of slower economic growth and changing consumer behavior. Most amusing are those who think the instability in oil prices will discourage use of oil, as if a drop in price would scare away consumers. Without a doubt economic growth and income are the primary drivers of oil consumption, but price is the most important secondary element. It’s not that a price crash will encourage consumers to leave…
Leadership And Motivation The Success of the entire business depends on the most important resource of any organization which is certainly human resources. They are creators and makers of new technical, technological and organizational solutions, creators of new values, controllers of working process and development of business systems. The key question is: who will manage human resources and motivate them so that the whole organization performs better. Leadership is one influence, one work of art and the process of impact on people, in sense that those who are affected are voluntarily and willingly participating in the creation of new values…
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 (Jul 24 2020) (Rs) Currency Symbol Buying Selling Australian Dollar AUD 115 119 Bahrain Dinar BHD 426 428 Canadian Dollar CAD 123 127 China Yuan CNY 23.85 24 Danish Krone DKK 24.65 24.95 Euro EUR 190 193 Hong Kong Dollar HKD…
Pakistan: Human Development Index And Its Components Country/ Region HDI Human Development Index (HDI) Average Annual HDI Growth Life Expectancy at Birth Expected Years of Schooling Mean Years of Schooling Gross National Income (GNI) per capita (2011 PPP $) Multidimensional Poverty Index Rank Value (%) -2018 [2010-2018] SDG-3 SDG-4.3 SDG-4.6 SDG-8.5 Headcount (%) World – 0.731 0.6 72.6 12.7 8.4 15,745 23.1 South Asia – 0.642 1.18 69.7 11.8 6.5 6,794 31 Iran 65 0.797 0.68 76.5 14.7 10 18,166 – Sri Lanka 71 0.78 0.49 76.8 14 11.1 11,611 – China 85 0.758 0.95 76.7 13.9 7.9 16,127 4.5…
According to World Bank’s present statistics, total 10 percent of the world’s population or 734 million people lived on less than $1.90 a day. In the wake of coronavirus, World Bank estimates that 40 million to 60 million additional people would decline into extreme poverty (under $1.90/day) in 2020, compared to 2019, depending on assumptions on the magnitude of the economic shocks. Under the pandemic, the worldwide condition of poverty may become worse because of job loss, increasing prices, disruptions in supply chains, loss of remittances, education, and health services. No doubt, the Government of Pakistan is committed to poverty…
During July-March, FY2020, the Government of Pakistan statistics showed that the Pakistan Poverty Alleviation Fund (PPAF) managed to disburse an amount of Rs 2,469 million to its POs under its core interventions administered under various PPAF supported programs. Statistics also showed that during the same period, a total of 3,636 community institutions were formed, and 1,317 community and PO staff members were trained under Instittional Development and Social Mobilization component. Similarly, the Government of Pakistan officials also recorded that, under Livelihood Enhancement and Protection (LEP) component, 4,027 individuals received skills/entrepreneurial training and 10,615 productive assets were transferred to ultra, and…
Nikkei 225 outlooks Japan’s Nikkei 225 stock market benchmark may fall when resuming trade next Monday after a long weekend. This is mainly attributed to US headwinds as the initial weekly jobless claims count climbed for the first time since 27th March, to 1.416 million. It is also higher than the market forecast of 1.30 million. This probably also marks a resurgence of unemployment, alongside a second Covid-19 viral wave in the ‘sun belt’ states of the US. A sobering US trading session may have set a downbeat tone for Asia stocks at the open. But this seems more like…
Imran Khan says ‘red-tape’ chokes development of projects In Pakistan, Prime Minister Imran Khan said that development projects he introduced have been hampered because of the ‘red-tape’ culture. With an obvious reference to Pakistan’s entrenched bureaucracy, Imran said that red-tapism chokes development projects in Pakistan. Referring to complexities of systems in Pakistan, PM said: unluckily, the government of Pakistan system was hampered with red tape leading to its degeneration. Such hurdles created hold-ups on the way to development. Speaking at the ground-breaking ceremony of Quaid-e-Azam Business Park, being developed outside Lahore in Sheikhhypura, PM said his government was busy reforming…
‘Philippine economy to shrink 8pc in 2020 The Philippine economy is projected to contract by 8 percent this year as a prolonged community quarantine and inadequate fiscal support would likely delay its recovery. In a report on Thursday, London-based research consultancy firm Capital Economics said the new forecast was a further reduction from its earlier -6 percent forecast. Capital Economics’ latest projection is worse than the -3.6 percent forecast of the International Monetary Fund, the -3.8 percent of the Asian Development Bank and the –1.9 percent of the World Bank. The figure is also a reversal of the 6 percent…
“Sink or swim” In both China and India, international experts revealed that, percentage growth in the population moving into the middle class has declined, and anticipated growth in Inter-Asian trade is quite modest. Still, the BRICKTIM countries constitute 40% of the world population and have outgrown the largest economies of the past. Yard capacity is at an all-time high, order books are empty and the yards are suffering as a result of low newbuilding activity. They are more than willing to develop innovative solutions. However, there are few buyers, apart from some risk-willing first movers, due to limited capital availability.…
Commodity Market In 2020 Global coal consumption According to the Energy Information Administration (EIA), combustion of coal emits about 210 pounds of CO2 per million British thermal units (BTU) of energy. In comparison, oil emits about 160 pounds of CO2 per million BTU, and natural gas emits 117 pounds of CO2 per million BTU. Another issue with coal is that there are a lot of other associated emissions from coal-fired power plants. Historically, coal plants emitted a lot of sulfur dioxide, which causes acid rain. Regulations eventually reined in that problem, but coal-fired power plants still emit pollutants like mercury.…
Thales of Miletus changed the world Wise leaders have certain leadership skills that transcend the everyday requirements of a job, including their approach to decision-making. Offcourse, they do not make one-sided decisions; instead, they are affected by the varying perceptions of their team as well as 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…
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 10 2020) (Rs) Currency Symbol Buying Selling Australian Dollar AUD 113 117 Bahrain Dinar BHD 426 428 Canadian Dollar CAD 121 125 China Yuan CNY 23.75 23.9 Danish Krone DKK 23.95 24.25 Euro EUR 185.5 188.5 Hong Kong Dollar…
Pakistani Workers Registered For Overseas Employment Countries 2015 2016 2017 2018 2019 Saudi Arabia. 522,750 462,598 143,363 100,910 332,713 U.A.E. 326,986 295,647 275,436 208,635 211,216 Oman. 47,788 45,085 42,362 27,202 28,391 Qatar. 12,741 9,706 11,592 20,993 19,327 Bahrain. 9,029 8,226 7,919 5,745 8,189 Malaysia. 20,216 10,625 7,174 9,881 11,323 Total 939,510 831,887 487,846 373,366 611,159 [divider style=”normal” top=”20″ bottom=”20″] Contraceptive Trends In Pakistan* Details Current Estimate for 2019 Increasing trend in Projection to 2020 _ Additional Users of Modern Contraception 2,115,000 2,748,000 _ Modern Contraceptive Prevalence Rate (mCPR AW) 17.7% 18.5% _ Unmet Need for Modern Contraception (MW) 27.1% 27.1%…
Studies in the recent years, revealed that women empowerment has become a very significant issue of the world. Women’s access to higher education is believed a tool of their empowerment in the intellectual, organizational, social, economic, administrative and familial spheres. Truly speaking, empowerment is an active multidimensional procedure, which should enable women to realize their identity and powers in all spheres of life, counting greater autonomy in decision making, capability to plan their lives, and greater control over the circumstances that influence their lives. In spite of all these, the present government plays an important role in making supportive strategies…
The Government statistics showed that Pakistan is the 2nd largest manpower/labour exporting country of South Asia. Bureau of Emigration and Overseas Employment (BE&OE) has recorded greater than 11.11 million emigrants for employment abroad. Statistics also showed that during 2019, the Bureau of Emigration & Overseas Employment recorded 625,203 for overseas employment as against to 382,439 emigrants in 2018 explaining a rise of 242,764 people as against to the previous year. It is also showed that Saudi Arabia (KSA) is the main destination country for Pakistani emigrants where greater than 53 percent of emigrants proceeded, followed by UAE (33.78 percent), Oman…
Rally may stall for Taiwan stock market The Taiwan stock market has finished higher in back-to-back trading days, collecting nearly 100 points or 0.8 percent along the way. The Taiwan Stock Exchange now sits just above the 12,190-point plateau although it may run out of steam on Friday. The global forecast for the Asian markets is soft on growing fears of another coronavirus wave. The European markets were down and the U.S. bourses were mostly in the red and the Asian markets figure to open in similar fashion. The TSE finished slightly higher on Thursday following gains from the cement…
Imran Khan inaugurates first ventilator manufacturing facility Pakistan Prime Minister Imran Khan inaugurated the production facility of the first indigenously developed ventilators in Pakistan at the National Radio & Telecommunication Corporation (NRTC) in Haripur. The Prime Minster was given a detailed briefing about the history, sectors of research and development, products and services of NRTC. The NRTC has already produced 15 units of SafeVent SP100 ventilators and has a capacity to manufacture 250-300 units per month. PM Imran Khan commended the initiative of NRTC team and the Ministry of Science and Technology for successfully producing the locally-made ventilators. “We have…
Keeping Indonesia’s economy afloat through the COVID-19 pandemic Indonesia faces one of the most difficult outlooks in Asia amid the economic pandemic unleashed by COVID-19. The principal economic problem is not the old one of capital flight, but about funding the fiscal response necessary to address a massive once-in-a-lifetime shock. With little on offer from the international system, Indonesia is rightly looking to find its own way, including by having taken the unorthodox step of allowing the central bank to directly finance part of the budget deficit. To enable this, the central bank could establish a clearly defined policy of…
“Knowing the ropes” International report revealed that with growth rates of 4percent in the Western world and 8percent in China and India, the world economy is strong. The exploration for and production of natural resources is increasing due to strong economic growth. This has a substantial effect on seaborne trade, especially the bulk and container markets. Trade growth doubles compared to world growth. In this scenario, Inter-Asia trade is expected to triple by 2020 compared to the 2012 level. This has a strong impact on the midsize container segment, bulk segment and associated port facilities. Overall, the experts also estimated…
Commodity Markets In 2020 Polish coal industry The coronavirus has ripped through Poland’s coal mines, where men descend deep underground in tightly packed elevators and work shoulder-to-shoulder to extract the source of 75 percent of the nation’s electrical power. Of Poland’s more than 36,000 reported COVID-19 cases, about 6,500 are miners – making them nearly a fifth of all confirmed infections in the country, even though they make up only 80,000 of the country’s population of 38 million. The virus hot spots, centered in the southern Silesia region, have paralyzed an already-troubled industry, forcing many to stay home from work…
“Fall forward” – denzel washington’s inspiring speech You’ve invested a lot in your education, and people have invested in you. And let me tell you the world needs your talents, and does it ever? The world needs a lot and we need it from you. We really do. We need it from you, young people. I mean, I’m not speaking for the rest of us up here, but I know I’m getting a little grayer. We need it from you, the young people, because remember this: you’ve got to get out there, and you got to give it everything you…
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 (Jun 25 2020) Currency Symbol Buying Selling Australian Dollar AUD 114 118 Bahrain Dinar BHD 428 430 Canadian Dollar CAD 122 126 China Yuan CNY 23.6 23.75 Danish Krone DKK 23.8 24.1 Euro EUR 187 191 Hong Kong Dollar HKD…
Budget At A Glance For FY 2020-21 (Rs. in Billion) Receipts Expenditure Tax Revenue 5,464 A. Current 6,345 – FBR Taxes 4,963 Interest Payments 2,946 – Other Taxes 501 Pension 470 – Non-Tax Revenue 1,109 Defence Affairs & Services 1,289 a) Gross Revenue Receipts 6,573 Grants and Transfers to Provinces & Others 905 b) Less Provincial Share 2,874 Subsidies 209 I. Net Revenue Receipts (a-b) 3,700 Running of Civil Govt. 476 II. Non Bank Borrowing 1,395 Provision for Contingencies & Fund 50 III. Net External Receipts 810 B. Development 792 IV. Estimated Provincial Surplus 242 Federal PSDP 650 V. Bank…
Sindh Budget The Sindh government presented the budget for FY2020-21 with a total outlay of Rs1.24 trillion with an estimated narrow deficit despite falling inflows from the federal divisible pool. Sources mentioned that the province is hoping to generate revenue receipts worth Rs1.22 trillion against its total expenditure. The provincial government has also not proclaimed any new taxes and envisaged a deficit of Rs18.38 billion for the upcoming fiscal year. It is also recorded that the Sindh cabinet accepted a 10 percent raise in salaries for employees from grade 1 to 16 and 5 percent increase from grade 17 to…
The economists revealed that worldwide economy is highly integrated by tourism, trade and remittances. According to World Trade Organisation (WTO), world merchandise trade because of COVID-19 is predicted to fall by 13 to 32 percent in 2020. During 2020 trade volume is predicted to decline by double digits in nearly all regions, depending on the duration of the outbreak and effectiveness of policy response. Trade in services is also predicted to be affected adversely because of restriction on transport and travel on account of the pandemic. Because of ongoing trade tensions and slowing economic growth, merchandise trade declined by 0.1…
According to the Economic Survey of Pakistan FY2020, the headline inflation measured through the Consumer Price Index (CPI) is registered at 11.22 percent during Jul-April FY2020 as compared to 6.51 percent during the corresponding period previous year. Statistics showed that perishable food items are the main contributory factor in jacking up the food inflation in the Food and Non-alcoholic Beverages group, as it is registered at 34.7 percent against the fall of 7.1 percent during the corresponding period. The experts also revealed that inflation in non-perishable food items is registered at 12.4 percent as compared to 5.5 percent during previous…
KSE-100 sheds 325 points on lower growth forecast The bear-run continued at the Pakistan Stock Exchange on Thursday and the KSE-100 index extended losses by 325 points as the downgrade of Pakistan’s growth projection by the International Monetary Fund (IMF) weighed on investors’ mind. On Wednesday, the IMF revised down its growth prediction for Pakistan for fiscal year 2020-21 to 1 percent from the previous estimate of 2 percent, which dampened interest at the bourse. At close, the benchmark KSE-100 index recorded a decrease of 325.02 points, or 0.95 percent, to settle at 33,709.63 points. Overall, trading volumes dipped to…
*Pakistan’s circumstances not the same as Wuhan, Europe: Imran Khan on COVID-19 lockdown Prime Minister defended his decision not to impose a complete COVID-19 lockdown once again, saying that Pakistan’s circumstances were different from Wuhan city and Europe. Speaking about the havoc that the coronavirus has wreaked on Pakistan’s economy, the Imran Khan said that he had not been in favour of imposing a lockdown as Indian Prime Minister Narendra Modi had done. Sources recorded that PM Imran Khan was addressing the ceremony for commencement of three Ehsaas initiatives, counting Ehsaas Rashan Portal, Ehsaas Langar and Panagah App and PM’s…
Asia-Pacific Region IMF sees Philippine economy shrinking further by 3.6pc in 2020 The Philippine economy will contract further this year due to the global economic disruption brought about by the COVID-19 pandemic, International Monetary Fund projections indicate. In its World Economic Outlook update released Wednesday night, the IMF expected the Philippine’s gross domestic product (GDP) to shrink by 3.6 percent in 2020. This latest IMF projection is a downgrade by 4.2 percentage points from its earlier forecast of 0.6 percent growth this year in its April report. “This downward revision is mostly attributable to larger-than-expected supply disruptions related to COVID-19…
*Full steam ahead The world economy is in good shape international experts revealed, and the growth rate continues to be high, at 4 percent yearly in the Western world counting the Eurozone, and at 8 percent yearly in China and India in 2020, while in the future these statistics may rise. World demand for natural resources is escalating. This is causing an increase in exploration and production which has strong positive effects for seaborne trade, including the transport of manufactured goods. In this case, trade growth doubles compared to world growth. This is consistent with historical periods of high growth.…
World commodities trading International studies revealed that the Commodity markets have been buffeted through the COVID-19 pandemic, which has already caused a historical sudden stop in economic activity. The pandemic has affected both the demand and supply of commodities by the impact of mitigation measures on activity and supply chains. The prices of most commodities have declined since January, mainly those that are related to the transportation industry. The Experts in the studies also stated that Energy prices declined 18.4 percent (q/q) in 2020 Q1, with a marked deterioration throughout the quarter as the severity of COVID-19 became increasingly apparent.…
Successful life of Sergey Brin Sergey Brin is a computer scientist and entrepreneur. He met Larry Page at Stanford University, and the two created a search engine that would sort web pages based on popularity. Google became the most popular search engine in the world after launching in 1998, its overwhelming success turning the co-founders into billionaires. Brin and Page later became president and CEO of Google’s parent company, Alphabet, before they stepped down from their roles in December 2019. Sergey Mikhaylovich Brin was born on August 21, 1973, in Moscow, Russia. The son of a Soviet mathematician economist, Brin…
Islamic banking must explore their role in the contemporary economy Interview with Dr. Ayub Mehar — a renowned economist PAGE: Tell me something about yourself and your organization, please: Ayub Mehar: I am serving as ‘Professor’ in Iqra University Karachi and also ‘Economic Advisor’ of the Employers’ Federation of Pakistan (the largest representative body of the entrepreneurs and investors in Pakistan). Currently, I am also associated with the Asian Development Bank Institute on a project for Infrastructure Financing in CAREC member countries. Development Financing, Macroeconomic Policies, International Trade and Finance and Economic and Financial Modeling are areas of my research interests.…
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 (Jun 12 2020) Currency Symbol Buying Selling Australian Dollar AUD 111.5 115.5 Bahrain Dinar BHD 423 425 Canadian Dollar CAD 118 122 China Yuan CNY 23.2 23.35 Danish Krone DKK 23.7 24 Euro EUR 181 185 Hong Kong Dollar HKD…
Lending & Deposit Rates (W.A) LR DR Spread Mar-19 10.7 6.5 4.2 Apr-19 11.2 7.6 3.6 May-19 11.6 7.4 4.2 Jun-19 12.4 8.3 4.1 Jul-19 13.3 8.1 5.2 Aug-19 13.1 9.3 3.8 Sep-19 13.5 7.7 5.8 Oct-19 13.7 7.9 5.8 Nov-19 13.8 7.6 6.2 Dec-19 13.8 7.5 6.4 Jan-20 13.8 7.8 5.9 Feb-20 13.1 6.7 6.4 Mar-20 12.7 6.1 6.6 [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] [ads1] [divider style=”normal” top=”20″ bottom=”20″] Pakistan’s Monetary Indicators (Rs Billion) Details FY2019 (Stocks) R 24-Apr-20 26-Apr-19 Net Foreign Assets(NFA) -1,507.1 893.7 -890.4 Net Domestic Assets(NDA) 19,305.6 587.6…
Studies revealed that high and sustained economic growth with low inflation is the central objective of the macroeconomic policy makers in any economy. The relationship between growth and inflation, however, depends on the state of the economy. The studies furthermore revealed that high growth, without an increase in inflation, is possible if the potential output of the economy is growing enough to keep pace with demand. It is also possible if the actual output is below the potential output and there is sufficient spare capacity available to handle with the demand pressures. The economists on the other hand, revealed that…
According to the State Bank of Pakistan (SBP) report, the credit to the private sector continued its downward trajectory in H1-FY20, as businesses continued to scale down their activities and increasingly resorted to internal financing. This trend was consistent with the subdued industrial production (largely LSM) and a broad-based fall in imports during the quarter. Notably, the entire offtake was driven through working capital loans; in case of fixed investment loans, net retirements by non-manufacturing sectors like construction, power and transport greater than offset the rise in manufacturing sectors’ loans. Recently the State Bank of Pakistan (SBP) has cut the…
SBP sees restriction steps may have negative impact on Pakistan’s economy According to the World Bank’s latest Global Economic Prospects, in 2020 the global economy is on track to shrink by 5.2 percent amid the COVID-19 pandemic, the deepest recession since the Second World War. The Report also noted that the outlook for global economy is highly uncertain and downside risks are predominant, counting the possibility of a more protracted pandemic, financial upheaval, and retreat from global trade and supply linkages. Furthermore, the economic activity in advanced economies in 2020 is anticipated to contract 7 percent as local demand and…
KSE-100 loses over 500 points in pre-budget session Pakistan Stock Exchange received a battering on Friday ahead of the presentation of federal budget for FY21. The benchmark KSE-100 index snapped its five-day winning streak as the market faced panic selling and lost a significant 517 points to below 35,000-point mark. Slump in global crude oil prices and sell-off in world equities weighed on investors’ sentiment. Furthermore, concern over the budget announcement later in the day pushed investors to offload their stockholdings across the board. At the beginning of trading, the market dived and the index sank to intra-day low of…
*Imran Khan Orders Establishment of 12 National Parks In the economic survey of Pakistan FY2019, the economists recorded that erratic weather patterns and climate change have emerged as the biggest environmental challenges that are affecting almost all the sectors of economy particularly water resources, energy, health, biodiversity with a major impact on agricultural productivity. In view of Pakistan’s high vulnerability to the adverse impacts of climate change, the current government is committed to meet this challenge and the Prime Minister has constituted “Prime Minister’s Committee on Climate Change” to provide high level strategic guidance and platform for coordinated efforts on…
Asia-Pacific Region Japan’s economy is bottoming out, eyes on recovery: finance minister Japan’s economy appears to have hit bottom and is eyeing a recovery from the damage caused by the coronavirus pandemic, its finance minister said, underscoring cautious optimism spreading among policymakers after the relaxation of lockdown measures. The remarks come ahead of next week’s rate review by the Bank of Japan, which is likely to hold off on expanding stimulus and stick to its view the world’s third-largest economy is headed for a gradual recovery. “We’ve succeeded in putting a floor on the economy, which seems to have hit…
*Fuel trends International experts revealed that the developments in the maritime fuel industry have become crucial for operators and cargo owners as fuel consumption accounts for a large share of the total voyage costs and can constitute a significant portion of the total transportation costs. For the shipping industry, it is not surprising then that fuel costs, and consequently oil prices, are among the main drivers of the implementation of new technology. Shipping will be forced to reduce emissions by regulations. It was expected that in the Sulphur Emission Control Areas (SECAs), which are North America, the Baltic Sea, the…
Commodity markets in 2020 Wheat International studies presently revealed that the Wheat production in 2020 could decline below last year’s level following this month’s downward revisions in the EU, the Russian Federation and Ukraine mostly on unfavourable weather conditions. Utilization in 2020/21 also forecast to decline compared to 2019/20, as both feed and industrial use are expected to fall. Trade forecast for 2020/21 scaled up m/m, largely on higher projected imports by Iran, Sudan and Egypt; export prospects trimmed for the EU, the Russian Federation and Ukraine, but raised for Australia, Argentina and Canada. Stocks (ending in 2021) forecast higher…
Dan Pink: The puzzle of motivation Dan Pink is the author of five books about business, work, and management that have sold two million copies worldwide. Dan Pink introduces ‘The Candle Problem’ – attaching a candle to a wall with a box of thumbtacks and matches to that it doesn’t drip. 2 groups try to solve the problem – one is told they are timing to discover norms, while the other is given money if they are in the top 25 percent. This test consistently shows that the group being given money is 3minutes slower than the other. Other research…
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 16 2020) Currency Symbol Buying Selling Australian Dollar AUD 100 104 Bahrain Dinar BHD 410.5 412.5 Canadian Dollar CAD 110.5 115.5 China Yuan CNY 22.05 22.2 Danish Krone DKK 22.65 22.95 Euro EUR 167 172 Hong Kong Dollar…
Client Wise Financing Portfolio (% Share) Sector Dec-18 Sep-19 Dec-19 Industry Corporate 74.3 73.6 74.6 71.7 SMEs 3.7 3.3 3.5 5.4 Agriculture 0.3 0.4 0.4 3.9 Consumer Financing 10.1 10.4 9.9 6.4 Commodity Financing 10.5 11.0 10.1 9.0 Staff Financing 0.9 1.1 1.1 1.7 Others 0.2 0.2 0.3 1.9 Total 100.0 100.0 100.0 100.0 [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] Sector Wise Financing Concentration (% Share) Details Dec-18 Sep-19 Dec-19 Industry Chemical and Pharmaceuticals 3.6 3.4 3.7 3.5 Agribusiness 7.6 7.2 7.3 7.9 Textile 13.0 11.9 13.4 13.6 Cement 3.6 3.5 3.7 2.1 Sugar 2.8 2.5 2.5 2.5…
The economic experts of Pakistan stated that Pakistani economy presently faces challenges similar to other developing countries in the world. The economy, stock market and rupee were getting stronger before coronavirus and as soon as Pakistan overcomes this pandemic, the country s economy will bounce back. Despite the present situation of Pakistan, Meezan Bank continued to perform well during the first quarter ended March 31, 2020 and registered profit after tax of Rs 5,505 million from Rs 2,800 million in same period last year – a growth of 97 percent. Meezan Bank is Pakistan’s best bank and the first and…
Across the globe, COVID-19 pandemic has created disruption and uncertainty for the common man and business community. BankIslami Pakistan Limited being a responsible institution in the banking sector, to inhibit the impact of this pandemic situation, took a number of precautionary initiatives based on World Health Organization (WHO) health principles to ensure safe work environment for employees as well as customers. Furthermore, BankIslami, in light of relief packages proclaimed through State Bank of Pakistan (SBP), is closely working with its financing clients, who have been affected by COVID-19, through advising them on restructuring. Percentage Growth In March 2020 Compared To…
Market Watch: KSE-100 advances on hopes of policy rate cut Bulls continued to dominate the stock market as the KSE-100 index rallied and gained over 200 points on Friday. The bourse managed to cross the 34,000-point mark. The increase was attributed mainly to speculation that the central bank would slash the policy rate in its monetary policy announcement later in the day. Moreover, a surge in global crude oil prices coupled with concern over growing fiscal deficit and negative economic growth dented investors’ sentiment. Earlier, trading began on a positive note and a buying spree emerged shortly afterwards due to…
*G-20 debt relief timely initiative taken amid Covid-19 challenge Appreciating the G-20 debt relief initiative, Prime Minister Imran Khan observed that the G-20 relief was a timely initiative that complemented the attempts to cope with the Covid-19 challenge. However, PM urged that that the facility may be more extended to provide greater space to the developing states fighting the pandemic in order for them to concentrate their resources on offering relief to their people. PM Imran Khan was chairing a meeting held to review Pakistan’s external inflows and outflows with special reference to the support received by the country from various…
Asia-Pacific Region Philippines allows malls, more businesses in capital to reopen The Philippines has allowed malls and more businesses in the capital to partially reopen on May 16 after a two-month lockdown that shrank its economy. Restaurants with delivery and take-out options, bookstores, hardware and clothing shops located inside malls in Metro Manila can reopen with half of its workforce starting Saturday, presidential spokesman Harry Roque said. Barber shops, salons and gyms would remain shut, and people are still required to stay at home. Trains and other forms of public transportation will remain unavailable. Large-scale construction projects in the capital…
*Technology and energy efficiency Ballast water treatment technologies Many ballast water treatment systems are now available on the market and, with ratification of the IMO Convention awaiting, ship owners have an excellent opportunity to evaluate how these systems perform before the Convention enters into force. The careful selection of a treatment system is furthermore important in order to ensure that the system meets the ship-specific requirements, such as ballast water capacity, power limitations and the integration of control systems. Another important advantage is the opportunity to gain insight into the manufacturer’s commercial reliability, support network and quality of supply capabilities.…
COMMODITY MARKETS IN 2020 * Coronavirus halts demand and supply of commodities International sources recorded that as states in the whole world contend with the health emergency of the COVID-19 pandemic, the economic effects of suspending approximately all activity have immediately impacted the world’s commodity markets and are probable to continue to affect them for upcoming months. According to the World Bank said in its April Commodity Markets Outlook that the COVID-19 has affected both demand and supply of commodities. Those effects are direct, resulting from shutdowns to mitigate the spread of the virus and disruptions to supply chains, and…
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 ( May 09 2020) Currency Symbol Buying Selling Australian Dollar AUD 99.5 103.5 Bahrain Dinar BHD 410.25 412.25 Canadian Dollar CAD 110 115 China Yuan CNY 21.8 21.95 Danish Krone DKK 22.7 23 Euro EUR 165 170 Hong Kong Dollar HKD…