Author: S. Kamal Hayder Kazmi

Researchers say that the economic performance and economic growth of a country is influenced through multiple factors. For economies in general and developing economies in particular, Foreign Direct Investment (FDI) has been believed and argued as a significant determinant, basically made to acquire lasting interest in an enterprise operating in an economy other than that of the investor, for the purpose being an effective voice in the management or control of that enterprise. Net FDI in Pakistan ($ Million) Country 2013-14 2014-15 2015-16 2016-17 2017-18 Jul- Jun FY19 (R) Jul-Nov FY20 (P) Oil & Gas 502 300.5 248.9 146 372…

Pakistan stocks retreat on global tensions After a phenomenal rally in the preceding session, the KSE-100 Index finished the last trading day of the week on a negative note amid global equity sell off following uncertainty over outcome of US Iran conflict. The Index shot up from the moment trading began; however, the momentum could not be sustained as cautious trading dragged the index lower. Investor concerns emanated over political noise and high inflation data. Moreover, the constant foreign outflow in the past few days also dented sentiments. On the international front, oil chain reacted to the jump in global…

*Pakistan Launches Health Insurance for Transgender Prime Minister Imran Khan says the Sehat Insaf Card will provide health insurance for members of Pakistan’s transgender community to ensure the rights and protection of the most vulnerable segments of society. Addressing a ceremony to launch the Sehat Insaf Card, a subsidiary the government’s Sehat Sahulat program, Imran Khan claimed this was the first time in Pakistan’s history that an incumbent regime had taken accountability of the transgender community, with an aim toward giving them a “a sense of ownership” over their status as Pakistanis. Pakistan was organized on the basis of justice,…

ASIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT Post-olympic economic slump unlikely to hit Japan As Japan gears up for Olympic euphoria later this summer, some fret that the country could experience a sense of deja vu, recalling the significant economic downturn that followed the hosting of the 1964 Tokyo Games. However, it is unlikely that Japan will face such a slump this time around. Rather than fearing an Olympic hangover, Japan should carefully observe other risks, economists say, such as trade conflicts, the U.S. presidential election and fallout from October’s consumption tax hike. “If the economy were to slow down after…

Dry bulk newbuilding activity took a dive in 2019 While 2019 was a year of great turbulence in the dry bulk market, some silver lining can be found in the fact that future tonnage supply could be limited, at least given the low level of newbuilding activity. In a recent report, shipbroker Allied Shipbroking said that “2019 was one of the slowest in terms of dry bulk newbuilding activity. New ordering activity has been curtailed significantly (especially when compared with the two preceding years) and the worldwide orderbook has significantly deflated during the past 12 months, as a result of…

World oil prices move higher as US strike killed Iranian commander Oil prices jumped to the highest level in more than three months on Friday after the United States killed a top Iranian military commander in Iraq, sparking fears that escalating conflict in the region could disrupt global oil supplies. Brent crude ended the session up 3.6% or $2.35 at $68.60 a barrel, off the session peak of $69.50, the highest level since the mid-September attack on Saudi oil facilities. West Texas Intermediate (WTI) crude settled up $1.87 or 3.1% at $63.05 a barrel. The session high was $64.09 a…

The Entrepreneurial Mindset Mark Zuckerberg was born on May 14, 1984 in White Plains, New York and grew up near Dobbs Ferry. He was born into a well-educated family and has developed an interest in computer programming at an early age. At the age of 12, Zuckerberg has created a messaging program called Zucknet that he implements as an internal communication system for his father’s dental practice. Because of his first signs of success, his parents made him a computer tutor while still in high school and enrolled in a New Hampshire high school. After graduating from high school, Zuckerberg…

An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] Nominal / Real Effective Exchange Rate Indices Of Pak Rupees ( Base 2010 = 100) Month Average NEER REER Percentage Change over last Year NEER REER 100 100 Jun-15 88.6289 117.0138 4.74 8.24 Jun-16 89.2890 117.3399 0.74 0.28 Jun-17 90.9981 121.0086 1.91 3.13 Jun-18 78.4221 107.4833 -13.82 -11.18 Jun-19 62.8885 90.9787 -19.81 -15.36 Monthly Position Percentage Change over last Month Oct-17 88.8910 119.5480 0.99 1.61 Nov-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 Open Market Currency Rate (Dec 27 2019) Currency Symbol Buying Selling Australian Dollar AUD 106.5 108 Bahrain Dinar BHD 407 409 Canadian Dollar CAD 117 118.5 China Yuan CNY 22.1 22.25 Danish Krone DKK 22.9 23.2 Euro EUR 171 173 Hong Kong Dollar HKD 19.85 20.1 Indian…

Share In GDP (As percent of GDP(mp)) Sectors 2003-04 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 Total Consumption 82.6 91.8 90.7 91.3 93.2 94.2 94.8 Private Consumption Expenditure 74.9 81.0 79.8 80.0 81.9 82.5 82.1 General Government Expenditure 7.8 10.8 11.0 11.3 11.3 11.7 12.6 Total Investment 16.4 14.6 15.7 15.69 16.2 16.7 15.4 Gross Fixed Capital Formation 14.8 13.0 14.1 14.1 14.6 15.1 13.8 Private 11.3 9.9 10.4 10.3 10.1 10.3 9.8 Public including General Public 3.5 3.2 3.7 3.8 4.5 4.8 4.0 Change in Inventories 1.6 1.6 1.6 1.6 1.6 1.6 1.6 National Saving 17.7 13.4 14.7 13.9 12.0…

Throughout the world, roads are shared through buses, cars, trucks, motorcycles, mopeds, pedestrians, animals, taxis, and other travelers. International experts revealed that travel made possible through motor vehicles supports economic and social development in various states. Yet each year, vehicles are involved in crashes that are accountable for millions of deaths and injuries. Whether you’re on the road at home or abroad, know the risks and take steps to protect your health and safety. According to the World Health Organization (WHO), road accidents in Pakistan claimed 27,500 lives and injured a predicted 500,000 people in the year 2016. The figures…

The Analysis of Economic Survey of Pakistan FY2019 analyzed that the macroeconomic stability is a fundamental pre-requisite for sustained economic growth. Pakistan’s economy has experienced frequent boom and bust cycles. Typically, each cycle comprised of 3-4 years of relatively higher growth followed by a macroeconomic crisis which necessitated the stabilization programs. The inability to attain sustained and rapid economic growth is because of structural challenges which require effective monetary and fiscal initiatives to attain macroeconomic stability. It has been also analyzed that the outgoing 5-year plan has seen an average growth of 4.7 percent against the target of 5.4 percent.…

Pakistan stocks index sheds 279 points in range-bound trading The KSE-100 index reversed its trend and shed 279 points on Friday in range-bound trading. Analysts had previously termed the outgoing week as a rollover week when investors would offload stocks bought earlier at attractive valuations. In addition to this, absence of positive triggers to guide market’s direction also weighed on investor sentiment and spread pessimism for the rest of the day. At close, the benchmark KSE 100-share Index recorded a decrease of 279.26 points, or 0.68percent, to settle at 40,848.53. Traded value stood at $61 million, up 19percent and volume…

* Government to announce special concessions for overseas Prime Minister Imran Khan said, the government of Pakistan is working on policy to proclaim special incentives for overseas Pakistanis, who send remittances through legal channels. He was addressing the launching ceremony of Delivery of Home Remittances Scheme by Overseas Pakistanis through Pakistan Post. According to the source, the Prime Minister urged now families of overseas Pakistanis will be able to get remittances through a network of 500 designated post offices in Pakistan. Prime Minister said overseas Pakistanis are a precious asset for the country and they played a vital role in…

Japan’s economy faces another rocky year The year 2019 was a bumpy one for Japanese Prime Minister Shinzo Abe in steering his country’s economy, and next year isn’t looking any easier. Data over the past two months show the world’s third-largest economy has been hit with a double blow. Exports are falling after the U.S.-China trade war and other troubles hit industries in China that rely on Japanese parts. At home, retailers are suffering after Mr. Abe reluctantly made the call to raise the national sales tax to 10percent from 8percent. “It is true that some weakness has been observed…

2019 Ends with plethora of newbuilding and S&P deals Ship owners have sought to seal a number of deals prior to the end of 2019, both in the newbuilding and the second hand markets. In its latest weekly report, shipbroker Allied Shipbroking noted that “things remained interesting for yet another week in the newbuilding market. In the dry bulk sector, we witnessed an another good rally for the Kamsarmax size segment, which saw its Orderbook boosted by 4 (optional + 4) units. This may have caught many by surprise, given the steep negative pressure that the overall dry bulk market…

Oil prices post fourth consecutive weekly gain Oil prices rose to the fourth consecutive weekly gain on Friday, steadying at three-month highs after new data showed U.S. crude inventories fell far more than expected, while upbeat economic data and optimism over a US-China trade deal fueled a year-end stock market rally. Brent crude LCOc1 rose 24 cents to settle at $68.16 a barrel, the highest since mid-September. The international benchmark has climbed nearly 27% since the end of 2018. West Texas Intermediate CLc1 rose 4 cents to settle at $61.72 a barrel, another three-month high. The US benchmark has risen…

The Entrepreneurial Mindset Sir Richard Branson Sir Richard Charles Nicholas Branson popularly known as Richard Branson is a British business magnate, best known for his Virgin Group spanning over 400 companies. Branson is the 5th richest person in the UK according to Forbes’ 2011 list of billionaires with an estimated net worth of USD 4.2 billion. His internationally acclaimed brand “Virgin” is displayed on everything from credit cards, to airlines and music “megastores”. He has knack to attract media with his marketing tactics and balloon adventures. Born on July, 18, 1950 in Blackheath, London to barrister Edward James Branson, Branson…

An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] Loans Classified By Borrowers (By Type Of Finance) (Million Rs) Outstanding Position at the end of November 2019 Based on ISIC 4 Classifications of Private Sector Businesses Export financing Import financing Government self employment schemes Advances by size of institutions Export finance schemes Other than SMEs SMEs Loans to Private Sector Business 417,211 293,518 13,624 4,823,929 474,129 A. Agriculture, forestry and fishing 673 1,431 1,154 299,338…

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 (Dec 20 2019) Currency Symbol Buying Selling Australian Dollar AUD 105 107 Bahrain Dinar BHD 405 407 Canadian Dollar CAD 116.5 118 China Yuan CNY 22 22.15 Danish Krone DKK 22.8 23.1 Euro EUR 171 173 Hong Kong Dollar HKD 19.75…

Hotels In Pakistan Shelton’s Rezidor Lahore Islamabad Regalia Hotel Hotel Reego, Skardu Avari Xpress Gulberg Pearl Continental Hotel Rawalpindi Islamabad Marriott Hotel Star Gaze Hotel & Apartments Islamabad Serena Hotel Pearl Continental Lahore Pearl Continental Hotel Karachi Ramada by Wyndham Islamabad Grand Millennium Hotel Lahore Continental Hotel Quick Continental Hotel Avari Hotel Lahore Hotel Pak Heritage Hotel Mehran Karachi Hotel One Mall Road Murree Regent Plaza – Hotel Karachi Marriott Hotel Carlton Hotel Mövenpick Hotel Karachi Ramada Plaza Karachi Shangrila Resort Hotel Murree Hills Avari Towers Karachi Beach Luxury Hotel [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] Pakistani Tourist…

Researchers revealed that hotel industry in any country is a significant sector offering comfort to the customers in the form of shelter, food and refreshment but the operations of the hotel impact environment in many ways like CO2 emissions, water pollution and waste generated. No doubt, hotels are the biggest and popular way of residence among local and international visitors. They have also revealed that the tourism industry has a great impact on hotel industry and both industries are interconnected because of their mutual benefits. The hotel industry of any country is a sign of its cordial reception for foreigners…

Pakistan: a best holiday destination for 2020 In 2018, the Travel & Tourism (T&T) industry helped generate 10.4 percent of world gross domestic products (GDP) and a similar share of employment, and has shown enormous resilience over the last decade, international study revealed. Fueling this expansion and relative resilience is the ongoing growth of the middle-class in Asia and other parts of globe. In the coming decade, it is reported that the industry contribution to GDP is predicted to increase by about 50 percent. In light of this expansion, policy-advisors, industry leaders and other stakeholders will have to pay closer…

Pakistan stocks index gains 178 points in range-bound trading In a turnaround, the stock market rose 178 points in range-bound trading on Friday as rising international crude oil prices kept investor interest alive. A detailed verdict in former president Pervez Musharraf’s treason case, however, prevented the market from making hefty gains. Trading in the first session began on a bullish note, however, selling pressure emerged shortly afterwards and the index traded within a narrow range. It ended the session with a loss of 127 points. The oscillation in the index continued in the second session as well but a buying…

Imran Khan says eradication of the polio virus is vital nation Prime Minister Imran Khan urged the nation to join the government’s polio eradication attempts to ensure uninterrupted national economic development and for building an optimistic image of Pakistan. Addressing the launching ceremony of the National Immunisation Campaign, the Imran Khan said that eradication of the polio virus was vital for both the children as well as the future of the nation. During the three-day drive starting on December 16, almost 39.6 million children would be vaccinated across the country by around 260,000 vaccinators. The campaign is being held in…

Afghanistan’s peace needs capital to endure There is intense focus now on how to reach a peace agreement in Afghanistan, but little on how to sustain peace, particularly in an area that bores so many policymakers and pundits: economics. Yet peace with inadequate economic support risks adding demobilized soldiers and Taliban to the large numbers of unemployed Afghans. Massive social resentment easily can lead to a return to violence with space for terrorist movements such as al Qaeda and ISIS (more than 20 in all), to strengthen their foothold. Avoiding this danger requires international support and private investment. Both demand…

Demolition market fired up Ships’ recycling activity has accelerated over the past couple of weeks, in what appears to be a long-awaited increase in sales of older vessels. In its latest weekly report GMS, the world’s leading cash buyer of ships, said that “activity has ramped up in the final month of the year, with several sales of diverse and some large LDT units registering across all sectors. All locations are now poised positively, with a firming demand and improving prices finally giving those Owners and Cash Buyers with tonnage to sell, some much-needed respite, especially after a disastrous fourth…

World oil benchmarks post 3rd weekly gain Oil prices fell on Friday, but both benchmarks logged a third straight weekly gain amid the easing of US-Chinese trade tensions, which has boosted business confidence and the outlook for global economic growth. Brent LCOc1 crude futures settled at $66.14 a barrel, down 40 cents, or 0.6%, but marked a weekly rise of around 1.4%. US West Texas Intermediate crude CLc1 futures settled at $60.44 a barrel, falling 40 cents, or 1.21%, while gaining about 0.6% on the week. Progress in the trade dispute between the world’s two biggest oil consumers has raised…

The entrepreneurial mindset Details matter, it’s worth waiting to get it right. Steve Jobs Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves. Steve Jobs The doers are the major thinkers. The people that really create the things that change this industry are both the thinker and doer in one person. Steve Jobs I’m actually as proud of many of the things we haven’t done as the things we have done. Steve Jobs In the broadest context, the goal is to seek enlightenment – however you define…

An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] Repatriation of profit / dividend by country on foreign investment (Million US $) Sr. Country September 2019 (P) October 2019 (P) Payments on Payments on FDI FPI Total FDI FPI Total 1 Australia – 0.0 0.0 2.9 0.0 2.9 2 Bahamas – – – – 0.2 0.2 3 Bahrain – – – – 0.1 0.1 4 Canada – 0.0 0.0 – 0.3 0.3 5 China 1.2…

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 Rates (Dec 12, 2019) Currency Symbol Buying Selling Australian Dollar AUD 104.5 106 Bahrain Dinar BHD 405 407 Canadian Dollar CAD 116 118 China Yuan CNY 21.95 22.1 Danish Krone DKK 22.85 23.15 Euro EUR 170 172.5 Hong Kong Dollar HKD 19.75 20 Indian Rupee…

Advances Classified By Securities/Borrowers (Rs in Billion) Securities/Borrowers Oct-19 R Foreign Banks Private Sector Banks Public Sector Banks Specialized Banks All Banks 1. Foreign Constituents – 0.3 – – 0.3 2. Domestic Constituents 81.5 6,012.3 1,550.7 164.6 7,809.1 I. Government – 621.4 165.9 0.9 788.2 II. Non-Financial Public Sector Enterprises (NFPSE) – 868.6 316.3 – 1,184.9 III. Non-Bank Financial Institutions (NBFIs) – 94.5 20.3 0.2 115.1 IV. Private Sector (Business) 80.9 3,907.0 866.9 160.8 5,015.6 I. Gold Bullion, Gold, And Silver Ornaments, Precious Metals – 4.9 46.5 – 51.5 II. Securities, Shares And Other Financial Instruments – 33.3 8.0 0.0…

One of the oldest and leading banks in Pakistan is MCB Bank Limited which has journeyed a remarkable tenure of more than half a century of competitively edged and well positioned heights of success by deploying quality banking, heads on technological developments, professionally leading management and prudent and ethical work methodologies. In the Financial Statements of MCB Bank Limited (MCB) for the nine months period ended September 30, 2019, officials recorded that the profit before tax (PBT) of Rs 27.51 billion which is 18 percent higher than the corresponding last period and translated into earnings per share (EPS) of Rs…

The State Bank of Pakistan (SBP) incessantly adopted contractionary monetary policy and kept the interest rate at 13.25 percent while on the other side the government had reduced profit rates on the National Savings Schemes. Experts viewed that the falling profit rates on deposits and high borrowing costs benefited the banks in term of high spread. Savings were the backbone of investment as higher savings lead to higher investment and higher growth in an economy provided that the other macroeconomic variables are conducive and a developed financial system exists in the economy. There is a need of falling of policy…

During the period nine months ended September 30, 2019 (9M’19), the financial experts of Habib Bank Limited (HBL) have recorded that the profit before tax (PBT) was at Rs 18.3 billion, 3 percent higher than for the corresponding period previous year. This is despite the significant impact of the falling Rupee and the equity market, which have together reduced pre-tax profit by Rs 7.4 billion. The experts in HBL also calculated in the report of the bank that the profit after tax (PAT) of Rs 8.8 billion for 9M’19 is, however, Rs 1.1 billion lower than previous year, because of…

Since inception, Askari Bank has been mainly engaged in the business of banking and concentrating on growth through improving service quality, investment in technology and people, utilizing its extensive branch network which includes Islamic and agricultural banking. It is expected that the Bank will continue to focus on building a low cost deposit base, investing in efficient risk weighted asset, optimally managing the loan book with prudent risk management given the risk of credit headwinds because of significant increase in interest rates. It is the priority of the management to invest in technology to build its digital capabilities to re-define…

Pakistan stocks finishes on flat note The stock market experienced subdued trading compared to the past sessions, with the benchmark index closing on a flat note on the last trading day of the week ending on December 6, 2019. Bullish activity was witnessed at the Pakistan Stock Exchange (PSX) in the pre-earnings season on the back of renewed foreign inflows, upbeat data of foreign exchange reserves and Moody’s positive reports. However, the upward momentum could not be sustained as selling pressure drove the index down. At close, the benchmark KSE 100-share Index recorded an increase of 91.15 points, or 0.22percent,…

*PM Imran launches ‘Digital Pakistan’ initiative International studies revealed that the digital world is increasingly penetrating the education and skills domain, with technology gradually being used to deliver education, knowledge and skills in new and innovative ways. This penetration is coupled with future changes to the mode and pattern of work, which are themselves affected by the current climate of economic uncertainty, as well as by political shifts. Furthermore, the use of these technologies has contributed to transforming learning and skills development into a lifelong process. Indeed, people now have to continue to develop and refresh their skills and knowledge…

Only 13pc of Indonesian family businesses survive until 3rd generation Family businesses account for almost all of businesses in Indonesia, employing millions of people and boosting the economy. However, their sustainability is a big problem as only 13 percent survive until the third generation, a consultancy firm says. Deloitte Indonesia executive director Budiyanto said on Wednesday that some of the problems that people encounter when inheriting companies involve establishing or continuing international-standard professional and transparent working environments when their parents are no longer in charge. “Generally speaking, only 30 percent of family businesses last until the second generation, 13 percent…

More green ship recycling under way Ships’ demolition activity has been on the rise over the last couple of weeks. In its latest weekly report, shipbroker Clarkson Platou Hellas noted that “We have witnessed several more units entering the market fray this week and as we edge closer to the end of the year, it will be interesting to see how many more units will be sold for recycling before we arrive in the next decade. Whether Owners are just dipping their toes in the market to ascertain the value of their aging vessels remains to be seen. Frustratingly, for…

World oil prices decline Oil prices fell on Monday after data showed Chinese exports declined for a fourth straight month, sending jitters through a market already concerned about damage being done to global demand by the trade war between Washington and Beijing. Brent futures LCOc1 were down 44 cents, or 0.68%, at $63.95 per barrel by early Monday (Dec 9, 2019), after gaining about 3% last week on news that OPEC and its allies would deepen output cuts. West Texas Intermediate oil futures CLc1 were down 48 cents, or 0.81% to $58.72 a barrel, having risen about 7% last week…

The Entrepreneurial Mindset 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 and his…

An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] Central Government Debt (In Billion Rupees) (Provisional) Debt Instruments As on end period Dec-18R Mar-19R Jun-19R Sep-19P A. Central Government Domestic Debt (a+b) 17,535.7 18,170.6 20,731.8 22,649.9 a. Long Term (i+ii+iii) 7,248.1 7,900.0 15,231.1 16,121.0 i. Permanent Debt (1+2+3) 4,376.5 4,797.4 12,080.0 12,834.1 1. Market Loans 2.8 2.8 2.8 2.8 Federal Government 2.7 2.7 2.7 2.7 3.00 % 1971 (Permanent) 2.7 2.7 2.7 2.7 Loans matured…

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 Rates In Pakistan (Nov 29 2019) Currency Symbol Buying Selling Australian Dollar AUD 105 106.5 Bahrain Dinar BHD 405 407 Canadian Dollar CAD 116.5 118.5 China Yuan CNY 22 22.15 Danish Krone DKK 22.65 22.95 Euro EUR 170.75 172.75 Hong Kong Dollar HKD 19.75 20…

[divider style=”normal” top=”20″ bottom=”20″] Workers’ Remittances From GCC-Countries & Others In Pakistan (Provisional) (Million US $) Country July – October October 2019 September 2019 October 2018 Amount YoY growth (percent) FY20 FY19 FY18 FY20 FY19 Cash 2,000.80 1,747.95 2,060.28 7,478.90 7,617.89 6,521.81 -1.82 16.81 1 USA 322.38 281.91 325.19 1,234.07 1,187.95 880.8 3.88 34.87 2 U.K. 328.69 264.89 322.29 1,143.05 1,132.45 945.06 0.94 19.83 3 Saudi Arabia 468.18 420.88 494.53 1,737.60 1,757.71 1,689.23 -1.14 4.05 4 UAE 398.96 363.34 419.41 1,538.14 1,646.90 1,414.28 -6.6 16.45 Dubai 269.67 242.79 281.2 1,020.51 1,119.34 1,061.44 -8.83 5.46 Abu Dhabi 126.2 118.15…

According to the International statistics, the world economy is projected to increase at 3 percent in 2019— a significant drop from 2017-18 for emerging market and developing economies also advanced economies — before recovering to 3.4 percent in 2020. The global growth pattern reflects that gross domestic product (GDP) growth is predicted to moderate into 2020 and beyond for a group of systemic economies comprising US, Europe, China, and Japan — which together account for close to half of worldwide GDP. It is also revealed that the global economy is in a synchronized slowdown, with growth for 2019 downgraded again…

During the period ended September 30, 2019, Dubai Islamic Bank Pakistan Limited (DIBPL) recorded a notable 24 percent rise in profit after tax (PAT). Profit before taxation (PBT) was also registered at Rs. 3.99 billion, an impressive rise of 31 percent over the same period previous year. DIBPL is a wholly-owned subsidiary of Dubai Islamic Bank UAE (DIB). The parent company DIB is a listed company in Dubai. The Bank has sustained its position as an innovative solution provider to all the financial needs of its customers, in accordance to Shariah. DIBPL was incorporated in Pakistan as an unlisted public…

Pakistan stocks hit nine-month high The benchmark KSE-100 index extended its rally from the previous day as bulls dominated trading on Friday, supporting the index cross the 39,000-point mark after nine months. The extensive buying seems to be the result of political clarity following the Supreme Court’s verdict in the army chief tenure extension case. On Thursday, the apex court gave the government six months to legislate and clearly specify the terms and conditions of service of the army chief, paving the way for General Qamar Javed Bajwa to stay on until a new law determined his terms of service.…

*PM’s initiatives for financial inclusion and shelter homes Prime Minister Imran Khan launched the Financial Inclusion Strategy initiative under his government’s flagship poverty alleviation programme Ehsaas with Queen Maxima of the Netherlands, UN Secretary-General’s Special Advocate for Inclusive Finance for Development, in attendance, who is visiting Pakistan chiefly to discuss the programme. We are pursuing strategies that will assist the poor section of society under many programmes, hence we launched Ehsaas, which has compassion as its core ingredient, said the premier at the inauguration ceremony. In his speech, he criticised a Global system in which rich nations were getting richer…

Jordan PM says 2020 budget to focus on growth to ease unemployment The Jordanian Prime Minister, Omar Al Razzaz, said the country’s draft 2020 budget, approved by Cabinet on Wednesday, aimed to spur stagnant economic growth and create jobs to ease high unemployment. Mr Al Razzaz told university students that maintaining Jordan’s economic and financial stability, rather than imposing new taxes encouraged by the International Monetary Fund, was the main driving force for the draft budget. Those taxes triggered protests in 2018 that were the biggest in years. “Our direction now is not to raise taxes but to attain economic…

WORLDWIDE SHIPPING INDUSTRY Baltic index gains on stronger vessel demand The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, inched up on Wednesday, helped by stronger demand across all vessel segments. The Baltic index, which tracks rates for capesize, panamax and supramax vessels, rose 14 points, or nearly 1percent, to 1,440 points, after registering its biggest one-day percentage gain in four-and-a-half months on Tuesday. The capesize index jumped 30 points, or 1 percent, to 2,983. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose…

WORLD COMMODITIES TRADING World oil prices tumble on fresh trade tensions, record us crude output Oil prices fell on Friday, with US crude dropping more than 4%, on fresh trade tensions and record high US crude production, but they still ended the month higher as OPEC watchers expect an extension next week to a pact to throttle oil output beyond March. Brent crude futures LCOc1 settled down $1.44 at $62.43 a barrel, and was down 1.5% on the week. Still, the contract posted its biggest monthly gain since April with a rise of about 6%. West Texas Intermediate (WTI) futures…

The entrepreneurial mindset Lawrence Edward Page is an American Computer Scientist and an internet entrepreneur who co-founded Google with Sergey Brin in 1998. Larry Page is the CEO of Google’s parent company Alphabet Inc. Born on March 26, 1973, in East Lansing, Michigan, his father was a Ph. D in Computer Science and a professor at Michigan State University and his mother an instructor in computer programming. A voracious reader in his youth, Page spent a lot of time poring over Science & Technology books and magazines. Page always liked to invent things and at the age of 12 knew…

An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] Export Receipts By Commodities And Groups (Thousand US Dollar) Commodity Jun-19 Jul-19 Aug-19 Sep-19 (R) Oct-19 (P) A. Food Group 412,184 408,388 288,839 365,218 380,470 01 Rice 172,042 181,586 128,929 150,055 147,171 02 Fish & Fish Preparations 48,317 36,457 20,575 33,287 45,359 03 Fruits 26,540 48,301 31,375 26,300 29,420 04 Vegetables/Leguminous Vegetabl 24,829 23,630 13,197 16,089 19,006 05 Tobacco 779 3,592 693 2,688 3,586 06 Wheat…

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 Rates In Pakistan ( Nov 21 2019) Currency Symbol Buying Selling Australian Dollar AUD 105 106.5 Bahrain Dinar BHD 406 408 Canadian Dollar CAD 116.5 118.5 China Yuan CNY 21.95 22.1 Danish Krone DKK 22.8 23.1 Euro EUR 171.5 173.5 Hong Kong Dollar HKD 19.75…

Net FDI In Pakistan ($ Million) Country 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 Jul-Jun FY19 (R) Jul-Sep FY20 (P) China 126.1 90.6 695.8 319.1 1,063.60 1,211.70 2003.9 462.2 103.1 UK 205.8 633 157 169.6 151.6 215.8 305 185 44.9 USA 227.7 227.1 212.1 223.9 13.2 44.6 160.9 88.1 22.5 Hong Kong 80.3 242.6 228.5 136.2 93.3 17.2 183.6 144.4 0.5 Switzerland 129.9 149 209.8 -6.5 58 101.8 79.4 21.2 5.2 U.A.E. 36.8 22.5 -47.1 213.6 109.7 120.5 -3.3 103.7 16.9 Italy 200.1 199.4 97.6 115.4 105.4 60.5 56.6 51.9 12.3 Netherlands 22.3 -118.7 5.5 -34.5 29.9 457.6 100.2 69…

The Government of Pakistan (GOP) continues to facilitate the IT industry by various sustainable development and accelerated digitization projects, research and innovation, software technology parks, subsidized bandwidth, global marketing, worldwide certifications, internships and trainings. Researchers believe that the telecom sector is complex, extensively regulated and rapidly evolving to keep up with the global markets and initiatives. According to the Pakistan Telecommunication Authority (PTA), the number of 3G and 4G users in Pakistan stood 73.26 million by end-October as against to 72.12 million by end-September 2019. Number of mobile phone users in Pakistan stood 162.98 million by end-October as against to…

During the quarter ended September 30, 2019. Indus Motor Company Limited (IMC) combined sales of Completely Knocked Down (CKD) and Completely Built-up Units (CBU) units declined by 56 percent to 6,839 units against 15,560 units sold in the corresponding period previous year. The market share of Indus Motor Company in the overall market reached at approximately 20 percent for the period under review. No doubt, IMC has played a major role in the development of the entire value chain of the local auto industry. It is also proud to have contributed in poverty alleviation at the grass root level by…

According to the World Bank’s Remittance Prices Worldwide Database, the average cost of sending $200 to low and middle income countries (LMICs) was 6.8 percent in the second quarter of 2019, only slightly below last quarters. This is greater than double the Sustainable Development Goal (SDG) target of 3 percent by 2030. The cost was the lowest in South Asia, at around 5 percent, while Sub-Saharan Africa continued to have the highest average cost, at about 9 percent. Remittance costs across many African corridors and small islands in the Pacific remain above 10 percent. Note that intra-regional migration in Africa…

According to the analysis recorded by the Ministry of Finance FY2019, fertilizer is the most important (and an expensive) input contributing 30 to 50 percent to crop yield in Pakistan. Its share in cost of production of major crops is around 10 to 15 percent. Analysis also showed that the local production of fertilizers during 2018-19 (July-March) grew by 2.6 percent over the corresponding period of previous year. This increase is because of functioning of two urea manufacturing plants like Agritech & Fatima Fertilizer, as supply of LNG was available on subsidized rates. The supply of imported fertilizer also grew…

According to the statistics published by the State Bank of Pakistan (SBP), the Profit Before Tax (PBT) of Islamic banking industry was registered at Rs. 32 billion by end June, 2019 as against to Rs. 15 billion in the same quarter last year. Profitability ratios like return on assets (ROA) and return on equity (ROE) before tax were registered at 2.3 percent and 35.3 percent, respectively by close June, 2019. Statistics also showed that during the period under review, operating expense to gross income ratio recorded more improvement and was registered at 52.6 percent, as against to 54.7 percent in…

Economic growth in a modern economy hinges on efficient capital markets which pool domestic savings and mobilize foreign capital for productive investments. A sophisticated capital market supports government and corporate initiatives, finances latest ideas and facilitates the management of financial risk, thereby ensuring that the funds are used for the pursuit of socioeconomic growth and development. Furthermore, international studies also revealed that capital markets recognize and drive capital to the best ideas and enterprises. Capitalism is a catalyst for innovation, opportunity and dynamism. Coupled with the free flow of capital, innovation is an integral component for supporting job creation, economic…

International statistics identified that the global insurance premiums written stood US$5.2 trillion in 2018. Life premium growth was weak but there was solid performance in non-life. The experts estimated that around 3 percent growth in global premiums in 2019 and next, with a recovery in life based on a strong rebound in China and ongoing steady performance in non-life. Premiums in emerging markets will outperform GDP and their share of the global total will rise from 21 percent during 2018 to 34 percent in 2029. As the shift from west to east continues, it is also estimated that the Asia-Pacific…

Sources recorded that trade among nations is beneficial for job creation and fuelling economic growth. Trade helps enhance living standards and promote better quality products and services at competitive prices. According to the Pakistan Bureau of Statistics (PBS), based on the provisional facts of imports and exports the balance of trade in September, 2019 was recorded (-) 314,835 million in terms of Rupees and (-) 2,016 million in US dollars. The balance of trade figures cumulative from July-September, 2019 were (-) 902,815 million in terms of Rupees and (-) 5,727 million in US dollars. According to PBS, exports from Pakistan…

Presently, Bank Alfalah Limited in Pakistan holds dual regions of focus developing digital channels, payment products — migration of mothership customers to digital banking. Since the launch of digital banking in January 2019 greater than 30 new products and services have been introduced across all business verticals of digital lending, channels, payments products resulting in acquisition of 700 K+ new to bank customers. The company’s statistics showed that Bank Alfalah is the fifth largest private bank in the country with a network of over 600 branches in greater than 200 cities across Pakistan with an international presence in Bangladesh, Afghanistan,…

According to the International Energy Agency (IEA) the worldwide oil demand will hit a plateau around 2030 as the use of further efficient cars and electric vehicles ends an expansion that dominated the past century. While the present growth rate of 1 MMbpd or about 1 percent will hold for the next 5-year, it will ebb to just 100,000 bpd in the 2030s. By that time, the use of oil-based fuels in passenger cars will have peaked, the IEA said in its long-term World Energy Outlook. It is also reported the necessity to find new supplies should cause prices to…

US Stocks advance on positive trade deal comments Wall Street advanced on Friday as both Washington and Beijing made positive comments on the potential for a trade deal between the world’s two biggest economies and upbeat domestic economic data helped to ease investor worries. U.S. President Donald Trump told Fox News a trade deal was “potentially very close” following remarks by President Xi Jinping that Beijing wanted to work out an initial agreement. The S&P 500 and the Dow showed their biggest daily gains in a lackluster week marked by uncertainty, with a report suggesting the delay of a trade…

Govt revises economic growth target The government has revised the economic growth target for the ongoing fiscal by 1.49 percentage points to 7.01 percent. Though the government had anticipated economic growth of 8.5 percent in fiscal 2019-20, the Ministry of Finance has lowered the economic growth projection based on the budget implementation trend of the first three months of the fiscal. MoF officials said the revised economic growth projection, which was made public today, was primarily backed by anticipation of low agricultural growth in 2019-20 and government expenditure failing to gather pace. Following the projected fall in production of paddy…

*PM says Super 6 wind power projects provide affordable energy Prime Minister Imran Khan has signed a deal for Wind-generated electricity project. The project will cost 450 million dollars and would produce 360 Megawatts of electricity which will then be added to the national grid. Hailing the project as a long-term investment, the prime minister said that the short term planning taken by the governments in the past had left Pakistan in tatters, by harnessing the power of the wind to produce electricity a lot of good would be done for the country and the environment. Pakistan’s economy has stabilized…

Maritime industry confronts boatload of environmental challenges Keeping up in a world hurtling toward the dawn of the IMO 2020 mandate is the biggest challenge facing the maritime industry, according to Kathy Metcalf, president and CEO of the Chamber of Shipping of America. In a discussion at the Women’s International Shipping & Trade Association (WISTA) International Annual General Meeting & Conference, Metcalf and other panelists addressed the many environmental challenges facing women — and men — in the maritime industry.Front of mind for many attendees at the Nov. 1 event in the Cayman Islands was the International Maritime Organization (IMO)…

World oil prices retreat Oil prices fell on Friday, pulling back from two-month highs as concern over U.S.-China trade talks overshadowed expectations of an extension to OPEC+ production cuts. Brent crude futures LCOc1 eased 58 cents to settle at $63.39 a barrel, having touched a high of $64.27 early in the session. West Texas Intermediate crude (WTI) CLc1 fell 81 cents to settle at $57.77 a barrel, dropping from its session high of $58.74. After paring their gains, both benchmarks ended the week little changed. [divider style=”normal” top=”20″ bottom=”20″] Pakistan wheat support price increased to Rs1,350 The Economic Coordination Committee…

William Henry Gates William Henry Gates is an American entrepreneur, programmer, investor and philanthropist. Bill Gates was born on October 28, 1955 in Seattle in a family having rich business, political and community service background. His great-grandfather was a state legislator and a mayor, his grandfather was vice president of national bank and his father was a lawyer. Your most unhappy customers are your greatest source of learning. Bill Gates Success is a lousy teacher. It seduces smart people into thinking they can’t lose. Bill Gates Life is not fair; get used to it. Bill Gates It’s fine to celebrate…

An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] CPI By Commodity Groups And Commodities In Pakistan (2007-08=100) S.No Item and Specification Weight Index Numbers Oct 2019 Sep 2019 Oct 2018 % Change in Oct 2019 over Sep 2019 Oct 2018 General 100.00 260.46 257.88 234.49 + 1.00 + 11.08 Food and non-alcoholic Beverages 34.834 272.00 268.40 240.50 + 1.34 + 13.10 1 Wheat 0.3477 228.90 223.80 203.64 + 2.28 + 12.40 2 Wheat Flour…

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 Open Market Forex Rates (Nov 08 2019) Currency Symbol Buying Selling Australian Dollar AUD 106 108 Bahrain Dinar BHD 401.5 403.5 Canadian Dollar CAD 117.5 120 China Yuan CNY 22.15 22.3 Danish Krone DKK 22.85 23.15 Euro EUR 171.5 173.5 Hong Kong Dollar HKD 19.85 20.1…

[divider style=”normal” top=”20″ bottom=”20″] Enrollment- Region, Sector And Gender-Wise For The Year 2017-18 Province/ Region Public Private Total Male Female Total Male Female Total Male Female Total ICT 274,467 282,493 556,960 20,580 13,089 33,669 295,047 295,582 590,629 Punjab 189,821 187,218 377,039 85,705 52,411 138,116 275,526 239,629 515,155 Sindh 107,571 66,878 174,449 58,850 30,322 89,172 166,421 97,200 263,621 Khyber Pakhtunkhwa 71,418 26,201 97,619 35,574 10,082 45,656 106,992 36,283 143,275 Balochistan 21,873 9,460 31,333 484 108 592 22,357 9,568 31,925 Azad Jammu & Kashmir 11,368 13,392 24,760 1,021 1,357 2,378 12,389 14,749 27,138 Gilgit Baltistan 2,160 2,184 4,344 0 0 0 2,160…

International Studies revealed that people are the real wealth of nations and education enables them to live healthier, happier, and more productive lives. There is broad agreement, backed through research findings, that education improves people’s ability to make informed decisions, be better parents, sustain a livelihood, adopt latest technologies, cope with shocks, and be responsible citizens and effective stewards of the natural environment. The World Bank has launched an ambitious new Learning Target, which aims to cut by at least half the worldwide rate of Learning Poverty by 2030. World community has agreed that education matters, however development is defined,…

Some government officials say that enhancing health and nutrition of the population is the priority agenda of the present government of Pakistan with increased focus on revamping and strengthening primary and secondary healthcare facilities. Fundamental health indicators to some extent are enhancing but the pace of progress is slow. The spending on health has been less than one percent of GDP since decades. This is one of the key structural challenges. In terms of HDI, statistics showed that Pakistan’ position is 150 out of 189 countries in 2017. Some slight improvement has been recorded, as during 2012-13, 45 percent of…

Pakistan’s KSE-100 index rises in wake of MSCI review Continuing the rising trend, the KSE-100 index gained 220 points on Friday as investor sentiment strengthened in the wake of an MCSI review amid hefty trading in large-cap banks and exploration and production stocks. The cement sector, on the other hand, remained under pressure throughout the day and majority of cement shares closed in the red. Earlier, trading began on a positive note and the Index advanced 290 points within first hour, going above the 36,000-point mark. Later in the first session, the Index erased some of the gains. At close,…

*PM gives roadmap to ministries, departments for next 3-month Prime Minister Imran Khan has given a roadmap to ministries and departments of their targets for the next three months and he will himself review performance of every ministry. Addressing a press conference in Islamabad after federal cabinet meeting, special assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan said that the prime minister gave directions to all ministries to take maximum efforts to complete public sector development programs of their ministry in next three months. It is said that the present government of Pakistan has put…

ASIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT S&P revises MOL outlook to positive on Azerbaijan acquisition S&P Global Ratings revised the outlook for Hungarian oil and gas company MOL from “stable” to “positive” after it announced the acquisition of exploration and production as well as midstream stakes in Azerbaijan from Chevron, state news wire MTI reported. “We believe the acquisition… will strengthen MOLʼs business profile despite increasing leverage,” S&P Global Ratings said. “We are therefore revising our outlook on MOL to positive from stable, and affirming our BBB- ratings on MOL and its senior unsecured debt.” “The positive outlook indicates that…

WORLDWIDE SHIPPING INDUSTRY Baltic index sheds over 7pc to touch 4-month trough The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, slid more than 7 percent to its lowest in over four months on Wednesday as demand languished across all vessel segments. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 123 points, or 7.4 percent, to 1,533, its lowest since July 2. The capesize index slumped 249 points, or 8.4 percent, to 2,726, its lowest in more than four months. Average daily earnings for capesizes, which typically transport…

World oil prices move higher Oil prices edged higher on Friday, after falling more than 1% following comments from US President Donald Trump that he has not agreed to roll back tariffs on China. Brent crude futures rose 22 cents to settle at $62.51 a barrel. West Texas Intermediate (WTI) crude rose 9 cents to settle at $57.24 a barrel. Brent posted a weekly rise of 1.3%, while WTI gained 1.9%. Prices pared losses in midday trade, after Brent reached a session low of $60.66 a barrel and WTI sank to $55.76 a barrel. Oil prices fell earlier on Friday…

The Entrepreneurial Mindset Thomas Edison was America’s greatest inventor and also a great businessman. His inventions created and contributed to modern night lights, phonograph, the motion pictures, and long-lasting practical electric light bulb. He was genuinely a Genius. Among his invention, some were improvements on various other inventions, similar to phone. Some were deliberately tried to invent, similar to bulb and motion picture projector. But, few inventions he stumbled on, like the phonograph. One day, as a little boy, Thomas Edison got back home from school and gave paper to his mom. He said to her, Mother my teacher gave…

An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] Banks’ Foreign Currency Deposits And Borrowings From Abroad (Million USD) End Period Foreign Currency Deposits Foreign Currency Borrowings from Abroad FX Liabilities of ADs (Deposits/ Borrowing) FE-25 Special FCY Deposits Total FCY Deposits FE-03 Other Borrowing Total FX Borrowing of Banks Mar-18 7,515 53 7,568 2,801 580 3,381 10,949 Apr-18 7,361 114 7,475 2,716 458 3,174 10,648 May-18 7,497 96 7,593 2,682 742 3,424 11,017 Jun-18…

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 Open Market Forex Rates (Nov 01 2019) Currency Symbol Buying Selling Australian Dollar AUD 106.6 108.1 Bahrain Dinar BHD 400.5 402.5 Canadian Dollar CAD 118.1 120.6 China Yuan CNY 22 22.15 Danish Krone DKK 23 23.3 Euro EUR 172.6 174.6 Hong Kong Dollar HKD 19.75 20…

Agriculture Growth Percentages In Pakistan (Base=2005-06) (P: Provisional) Sector 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 (P) Agriculture 2.68 2.50 2.13 0.15 2.18 3.94 0.85 Crops 1.53 2.64 0.16 -5.27 1.22 4.66 -4.43 i) Important Crops 0.17 7.22 -1.62 -5.86 2.60 3.56 -6.55 ii) Other Crops 5.58 -5.71 2.51 0.40 -2.51 6.15 1.95 iii) Cotton Ginning -2.90 -1.33 7.24 -22.12 5.58 8.80 -12.74 Livestock 3.45 2.48 3.99 3.36 2.99 3.62 4.00 Forestry 6.58 1.88 -12.45 14.31 -2.33 2.58 6.47 Fishing 0.65 0.98 5.75 3.25 1.23 1.63 0.79 [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] [ads1]…

International experts revealed that that in present years the growth rates of global agricultural production and crop yields have slowed. This has increased fears that the world may not be able to grow enough food and other products/commodities to ensure that future populations are sufficiently fed. However, the slowdown has occurred not because of shortages of land or water but rather because demand for agricultural products has also slowed. This is chiefly because global population growth rates have been falling since the late 1960s, and fairly high levels of food consumption per person are now being reached in many states,…

The present government’s resolution is to improve agriculture productivity in future and has also initiated to start Prime Minister’s Agriculture Emergency Program. The government officials also recorded that these initiatives would supplement the attempts of the Government of Pakistan to enhance productivity of crops including wheat, rice, sugarcane, oilseeds, will harness untapped potential of fisheries, conserve water and would rise meat export of the country. The projects would be financed from PSDP at the federal level with a major share of the provinces who will fund these projects from their respective Annual Development Program (ADP). In this connection Prime Minister’s…

STOCK EXCHANGES AROUND THE WORLD Pakistan stocks up 174 points in range-bound trading The KSE-100 index extended gains on Friday and rose 174 points in range-bound trading. Bullish sentiment was led by an increase in foreign exchange reserves and falling bond yields, indicating economic stability, it is said. Earlier, trading began with an upward march, however, the rise proved to be short-lived and the index dipped within first hour. Later, strong investor sentiment provided support for the market that recovered steadily and closed with a rise of 224 points in the first session. The second session saw some of the…

*Imran Khan lays foundation of first Sikh university in Punjab Prime Minister Imran Khan laid the foundation stone of Baba Guru Nanak University at Nankana Sahib in Punjab Province. The initiative has been taken in connection with the 550th birth anniversary celebrations of the founder of Sikh religion Baba Guru Nanak who was born in Nankana Sahib, a small town in Punjab where Sikhs from around the world go for pilgrimage.This comes a week after officials from Pakistan and India inked an agreement for opening the Kartarpur Corridor on October 24. The agreement will facilitate the visa-free travel of 5,000…