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…
Author: S. Kamal Hayder Kazmi
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…
ASIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT Singapore economy to stay tepid in 2020; ‘significant uncertainties’ for trade-related sector: MAS Singapore’s economy is likely to continue facing headwinds into 2020, seeing lacklustre activity over the next 18 months, said the Monetary Authority of Singapore (MAS) on Wednesday (Oct 30). Growth will be uneven across industries, with “significant uncertainties” for the trade-related cluster, the central bank added in its twice-yearly macroeconomic review. Part of this stems from higher volatility in the electronics-related industries. Semiconductor producers, for example, have been seen to draw down inventories to meet new orders instead of stepping up…
WORLDWIDE SHIPPING INDUSTRY Baltic index falls on softer capesize demand The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell on Thursday, weighed down by lower demand for capesize vessels. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 51 points, or 2.9percent, to 1,731. The capesize index was down by 100 points, or 3.2percent to 2,978 points, its lowest in a week. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell by $766 to $24,918. The panamax index dropped…
WORLD COMMODITIES TRADING World oil prices climb to 4pc Oil prices rose nearly 4% on Friday on signs of progress in US-China trade talks and stronger-than-expected economic data in both countries, including US employment and Chinese manufacturing activity numbers. Brent crude ended the session up $2.07, or 3.5%, at $61.69 a barrel, but notched a drop of about 0.4% for the week. West Texas Intermediate crude settled $2.02, or 3.7% higher at $56.20 a barrel, but fell about 0.8% in the week. US-China trade talks are progressing well and the United States aims to sign an initial deal this month,…
The Entrepreneurial Mindset Henry Ford was an industrialist in America who founded the Ford Motor Company. His company developed and manufactured affordable automobiles which revolutionized the transportation industry in America. He is credited for mass production of cheap products coupled with better pay for the workers. His commitment to lowering the cost systematically resulted in several business innovations that led to the growth of the Ford Motor Company in North America and major towns of the other continents. Henry Ford was born in 1863 in Michigan. His father came from County Cork while his mother was born in Michigan by…
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] Gross Domestic Product Of Pakistan (at constant basic prices of 2005-06) (Rs in Mn) Sector/Industry 2014-15 2015-16 2016-17F 2017-18R 2018-19P Commodity Producing Sectors(A+B) 4,400,070 4,528,602 4,682,467 4,890,868 4,946,314 A. Agricultural Sector ( 1 to 4 ) 2,202,043 2,205,433 2,253,565 2,342,373 2,362,209 1. Crops 868,494 822,689 832,744 871,516 832,919 2. Livestock 1,246,512 1,288,373 1,326,948 1,375,021 1,430,044 3. Forestry 40,761 46,592 45,505 46,679 49,699 4. Fishing 46,276 47,779…
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 (Oct 25 2019) Currency Symbol Buying Selling Australian Dollar AUD 106 108 Bahrain Dinar BHD 400 402 Canadian Dollar CAD 118 120 China Yuan CNY 22 22.15 Danish Krone DKK 22.95 23.25 Euro EUR 172.5 175 Hong Kong Dollar HKD 19.8 20.05…
Pakistan – Core Set Of Inward Direct Investment Positions For End 2017 (Mn US $) Country Total Inward direct investment positions Inward equity positions (net) Debt Instruments Inward debt positions (net; liabilities minus assets ) Gross Debt positions Debt Liabilities Debt Assets United Kingdom 11,552.4 11,398.9 153.5 159.7 6.3 Switzerland 6,231.4 6,184.7 46.7 49.5 2.7 Netherlands 3,892.7 3,709.7 183.0 183.2 0.2 China 2,693.1 1,926.9 766.1 770.8 4.6 United Arab Emirates 2,212.7 1,412.9 799.8 809.4 9.6 Japan 2,052.5 1,980.5 72.0 73.3 1.3 United States 1,938.9 1,856.7 82.2 83.2 1.0 Cayman Islands 1,689.5 1,688.6 0.9 0.9 0.0 Hongkong 1,104.8 988.7 116.1 116.7…
Presently, the State Bank of Pakistan (SBP) reported that total foreign direct investment (FDI) in Pakistan jumped by 137 percent, or $512 million during the first quarter of FY2019-20. The total investment during the July-September 2019 period clocked in at $886 million as against to $374 million during the corresponding period in 2018. Studies revealed that for an investor, the expected relative risk/return ratio is the driving force of investment decisions. Therefore, they tend to invest in countries and projects where they expect the highest returns and the lowest risks relative to alternative investment opportunities. The government officials also recorded…
International experts revealed that an economy cannot thrive without a healthy private sector. When domestic businesses flourish, they create job opportunities and generate income that can be spent and invested domestically. They were also of the view that any rational government that cares about the economic well-being and advancement of its constituency pays special attention to laws and regulations affecting local SMEs. Effective business regulation affords micro and small companies the opportunity to raise, innovate and, when applicable, move from the informal to the formal sector of an economy. The present World Bank (WB) annual flagship report 2020 on Doing…
STOCK EXCHANGES AROUND THE WORLD Pakistan’s stocks index loses 105 points After posting gains for three consecutive sessions, the KSE-100 index lost ground on Friday and closed with a decline of 105 points in range bound trading. A host of corporate financial results were released during the day, which heavily influenced direction of the market. Trading kicked off on a positive note and the index managed to cross the 33,900-point mark multiple times in the first session before closing with a gain of nearly 130 points. At close, the benchmark KSE 100-share Index recorded a decrease of 105.02 points, or…
ASIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT Afghanistan ranked 173 in world bank’s ‘doing business’ index The report states that based on the World Bank’s assessment, Afghanistan had no visible achievement in at least 7 indexes in the trade and business sectors. Afghanistan was ranked 173 in the World Bank’s “Doing Business Report for 2019: Training for Reform” and received a score of 44.1. Last year the score was 47.7, and Afghanistan ranked 167 in the index. According to the report, Afghanistan’s position has dropped by six points in this year’s index of doing business against last year. The report states…
*Imran Khan inaugurates 1,320 MW power plant in Pakistan Pakistan Prime Minister Imran Khan has inaugurated the 1,320 megawatt China Hub power plant, which is one of the primary projects of the China-Pakistan Economic Corridor (CPEC). Addressed a ceremony on the occasion on Monday, Khan said the joint projects under the CPEC were a positive sign, recommending that more coal would be brought from Thar to be utilised for this power plant. “There are 6,000 Pakistani workers associated with the project,” said the prime minister. He further said electricity is being produced from coal in Thar, adding that due to…
WORLDWIDE SHIPPING INDUSTRY Shippers looking to reduce the carbon footprint From higher-quality paint to state-of-the-art propellers: shipping companies are looking in every corner to reduce their carbon footprint as investor and activist pressure increases. The move comes as aviation and shipping firms face demands to slash emissions due to their reliance on oil. The two sectors are expected to account for 40 percent of global CO2 output by 2050 unless action is taken, the European Environment Agency says. International shipping accounts for 2.2 percent of global carbon dioxide emissions, according to the International Maritime Organization (IMO), more than aviation’s two…
WORLD COMMODITIES TRADING World oil prices post strongest weekly gain Oil prices rose on Friday, registering the strongest weekly gains in more than a month as support from optimism over a US-China trade deal, falling US crude stocks and possible action from OPEC to extend output cuts outweighed broader economic concerns. West Texas Intermediate (WTI) crude futures settled 43 cents, or 0.8%, higher at $56.66 a barrel, clocking a weekly rise of more than 5%, its strongest since June 21. Brent crude ended 35 cents, or 0.6%, higher at $62.02 a barrel, logging a weekly gain of more than 4%,…
THE ENTREPRENEURIAL MINDSET Andrew Carnegie, a Scottish-American industrialist and the greatest philanthropist in this speech, is known to be the most influential person whose greatest contribution in expanding the American steel industry in 19th century makes him immortal. He donated his most fortune to establishing schools, Libraries and universities across the United States and Europe. He was a self-made man for his economic, cultural as well as intellectual developments. He is often considered to be the second richest man in the history after John D. Rockefeller. From his young age he would love to listen about famous Scottish heroes such…
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] Month End Exchange Rates (Pak Rupees per Currency Unit) Country China Saudi Arabia UAE UK USA EMU IMF Currency Chinese Yuan Saudi Arabian Rial UAE Dirham UK Pound Sterling U.S. Dollar Euro SDR Jan 2017 15.2661 27.9406 28.5317 130.9631 104.7437 111.9795 142.4950 Feb 2017 15.2978 27.9416 28.5326 130.1453 104.7447 110.8253 141.9580 Mar 2017 15.2291 27.9404 28.5285 130.6472 104.7437 111.7469 142.2720 Apr 2017 15.2477 27.9264 28.5159 135.0723…
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 (Oct 18 2019) Currency Symbol Buying Selling Australian Dollar AUD 105.5 107.5 Bahrain Dinar BHD 401.5 403.5 Canadian Dollar CAD 118.5 121 China Yuan CNY 21.95 22.1 Danish Krone DKK 22.95 23.25 Euro EUR 172 174 Hong Kong Dollar HKD 19.85 20.1…
Average Sector Wise Natural Gas Consumption in Million Cubic Feet per Day (Mmcfd) (July 2018 – Feb2019) Sector Gas Consumption in MMCFD RLNG Total Power 865 546 1,411 Domestic 889 – 889 Commercial 84 5 89 Transport (CNG) 136 47 183 Fertilizer 621 24 645 General Industry 485 163 648 Total 3,080 785 3,865 Source: Ministry of Energy, Directorate General Gas [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] [ads1] [divider style=”normal” top=”20″ bottom=”20″] Sector Wise Net FDI In Pakistan ($ Million) Country 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 Jul-AugFY20 (P) Oil & Gas 629.4 559.6 502…
The research studies revealed that over the last four decades worldwide economy has experienced various wide swings in energy prices. These swings have very grave repercussions for countries of Asia, in general, and South Asian regions, in particular the latter having tremendous economic potential. The experts identified that rapidly growing economies like India, China and Pakistan will face grave energy crisis if they do not plan well for future needs. Statistics showed that the energy crisis in Pakistan has also gravely aggravated affecting the economy and growth besides paralyzing the routine life. Consequently, the Government of Pakistan is in dire…
International experts recorded that world consumption of natural gas for industrial uses rises by an average of 1.7 percent/year, and natural gas consumption in the electric power sector rises by 2.2 percent/year, from 2012 to 2040. The industrial and electric power sectors together account for 73 percent of the total rise in world natural gas consumption, and they account for about 74 percent of total natural gas consumption through 2040. Consumption of natural gas rises in every IEO region, with demand in nations outside the Organization for Economic Cooperation and Development (non-OECD) increasing more than twice as fast as in…
STOCK EXCHANGES AROUND THE WORLD Pakistan stocks edge down 28 points over FATF decision As investors braced for the Financial Action Task Force (FATF) verdict on Friday, the benchmark KSE-100 Index inched down 28 points due to speculation over the outcome. The FATF decided to keep Pakistan on the grey list after Islamabad could not fully implement the 27-point action plan, providing the country another four months to complete the remaining actions. However, Pakistan staved off the threat of being placed on the FATF blacklist. At this point, investors began cherry-picking and the first session ended with a gain of…
ASIAN ECONOMY: OVERVIEW, GROWTH & DEVELOPMENT Inflation outlook: research Inflation projections for developing Asia are revised up a notch from 2.5percent to 2.6percent in both 2019 and 2020, reflecting higher oil prices and several domestic factors. Price fluctuations for Brent crude oil continue amid various concerns affecting both supply and demand. After breaching $60/barrel in January, the price of crude rose to a 5-month high of $74/barrel in late April, after the US ended waivers to its embargo on Iranian exports. In May, oil prices seesawed on news of higher US crude inventory, heightened geopolitical tensions in the Middle East,…
*PM Inaugurates ‘Kamyab Jawan Programme and met Prince William and Kate Middleton Prime minister has launched the first phase of the “Kamyab Jawan Programme” for youth of Pakistan to support them through technical and financial assistance. The Government of Pakistan believes that youth employment and economic empowerment are essential components of a strong foundation in any society. The prime minister while addressing the inauguration ceremony in Islamabad announced that Rs 100 billion have been allocated for youth loans under the programme. He said that out of the total amount, Rs 25 billion have been earmarked for women. Prime Minister proclaimed…
WORLDWIDE SHIPPING INDUSTRY Baltic index hits one-week trough on sluggish demand The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell to a one-week low on Wednesday, on weaker demand for all vessel segments. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, was down 1 point at 1,897, extending losses to a fourth session. The capesize index fell 10 points, or 0.3 percent, to 3,194. The average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose $174 to $25,838. China’s top…
WORLD COMMODITIES TRADING Russia nears 100pc compliance with oil production target Russia’s oil production inched down to 11.23 million barrels per day (bpd) in the first half of October, official Russian data showed on Wednesday, yet Moscow is still several thousand barrels above its quota under the OPEC+ production cut deal. In the first two weeks of October, Russia’s production dropped by 19,700 bpd from September, to average 11.23 million bpd, which is still above Russia’s production ceiling of 11.191 million bpd in the OPEC+ deal. Moscow’s compliance rate with its share of the cuts is nearly 84 percent so…
The entrepreneurial mindset Matthew Boulton was a pioneer in manufacturing, he was far from wealthy; his father was a toy maker at the time of his birth. Matthew attended a local school and upon leaving; he joined his father’s business. At the age of 21yrs Matthew married Mary Robinson the daughter of a wealthy Mercer (Mercer; a silk, linen and fustian textile merchant). Eventually he took charge of his father’s business (1757) When his father died, he later gained interest in precious metals; leaving behind the toy trade altogether. With a new trade under his belt Matthew then travelled throughout…
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) Debt Instruments Jun-19 Jul-19 Aug-19 20,731.8 22,012.2 21,495.3 A. Central Government Domestic Debt (a+b) 15,231.1 15,232.4 15,762.3 a. Long Term (i+ii+iii) 12,080.0 12,038.5 12,567.5 i. Permanent Debt (1+2+3) 2.8 2.8 2.8 1. Market Loans 2.7 2.7 2.7 Federal Government 2.7 2.7 2.7 3.00 % 1971 (Permanent) 0.1 0.1 0.1 Loans matured but not encashed 11,183.3 11,256.2 11,811.5 2. Federal Government…
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 (Oct 11 2019) Currency Symbol Buying Selling Australian Dollar AUD 105.35 107.35 Bahrain Dinar BHD 404.1 406.1 Canadian Dollar CAD 118.1 120.6 China Yuan CNY 21.85 22 Danish Krone DKK 22.75 23.05 Euro EUR 171.35 173.35 Hong Kong Dollar HKD 19.9 20.15…
Pakistan Trades (Million US $) Period Exports (BOP) Imports (BOP) Balance of Trade Value Cumulative Value Cumulative a b c d a-c b-d 1970-71 683 — 1,187 — -504 — 1971-72 625 — 954 — -329 — 1972-73 766 — 889 — -123 — 1973-74 1,020 — 1,493 — -473 — 1974-75 978 — 2,114 — -1,137 — 1975-76 1,162 — 2,139 — -977 — 1976-77 1,132 — 2,418 — -1,286 — 1977-78 1,497 — 3,174 — -1,677 — 1978-79 1,644 — 3,816 — -2,172 — 1979-80 2,341 — 4,857 — -2,516 — 1980-81 2,799 — 5,563 — -2,765 –…
Foreign trade is important to the Pakistan’s economy because country needs to import various products to complete the increasing demands resulting from its economic recovery and development. Pakistan is not a major trading player in the international trade. Pakistan’s imports have generally been greater than its exports. According to the Pakistan Bureau of Statistics (PBS), main commodities of imports during August, 2019 were Petroleum products (Rs. 76,215 million), Natural gas, liquified (Rs.46,779 million), Electrical machinery and apparatus (Rs. 38,133 million), Plastic materials (Rs. 25,347 million), Palm oil (Rs. 23,792 million), Iron and steel (Rs. 23,695 million), Petroleum crude (Rs.23,328 million),…
The World Trade Organization (WTO) revealed that the world trade will continue to face strong headwinds in the year 2019 and 2020 after growing more slowly than predicted during last year because of rising trade tensions and increased economic unrest. WTO experts estimate merchandise trade volume growth to decline to 2.6 percent in 2019 — down from 3.0 percent in 2018. Trade growth could then rebound to 3.0 percent in 2020; however, this is dependent on an easing of trade tensions. Statistics also identified that trade growth in 2020 is expected to out-pace GDP growth due to faster GDP growth in…
STOCK EXCHANGES AROUND THE WORLD Pakistan stocks keep rallying Pakistan stock market extended its rally and gained 448 points on Friday as investors expected a positive outcome from the Financial Action Task Force (FATF) meeting to be held next week. Moreover, many companies are expected to announce financial results in the forthcoming week, which further strengthened investor sentiment. A rise in global crude oil prices in the wake of attack on an Iranian oil tanker gave a boost to stocks of exploration and production companies and the entire sector posted handsome gains. Earlier, trading kicked off on a positive note…
Southeast Asia; a short review Data to the end of June 2019 show growth in Southeast Asia remaining robust, though slower than forecast. The subregion’s more open economies faced the combined impacts of the trade conflict and a trough in the electronics cycle, which were partly offset by strong domestic demand. Meanwhile, evidence of trade and production redirection is appearing, with some countries seeing increases in foreign direct investment and exports. Viet Nam, for example, expanded its exports by 6.7percent in the first 5 months of 2019, buoyed by a 28percent rise in exports to the US, and its already…
*Imran Khan- Man of the Year, departs from china after successful visit Prime Minister Imran Khan has been named Man of the Year by Jordan’s Royal Islamic Strategic Studies Center, has successfully completed his 2-day official visit to China. The Chinese armed forces presented a guard of honour to PM Imran Khan on his departure from Beijing. Earlier in the day, the PM had met Chinese President Xi Jinping in Beijing and discussed the entire spectrum of bilateral relations, regional situation, and matters of mutual interests. It is important to note here, Pakistan officials identified that the growth momentum of…
WORLDWIDE SHIPPING INDUSTRY Shipping confidence dips as trade wars intensify Confidence in the shipping industry fell in the past three months to its lowest level for two and half years, according to the latest Shipping Confidence Survey from leading shipping adviser and accountant BDO. Yet owners, charterers and managers were more confident than they were at the time of the previous survey in May 2019. The average confidence level recorded by the survey in the three months to end-August 2019 was 5.8 out of a possible maximum of 10.0. This compares to the figure of 6.1 recorded for the quarter…
WORLD COMMODITIES TRADING World oil prices up over 2pc Oil prices rose more than 2% on Friday after Iranian media said a state-owned oil tanker was attacked in the Red Sea near Saudi Arabia, while optimism surrounding the US-China trade war lifted sentiment. Brent crude futures LCOc1 gained $1.41, or 2.4%, to settle at $60.51 a barrel. West Texas Intermediate (WTI) crude CLc1 futures rose $1.15, or 2.2%, to settle at $54.70 a barrel. The gains were tempered by the International Energy Agency’s forecast for weakened demand in 2020. Still, Brent and WTI were headed for their first weekly increases…
Face Reality Exploit the new realities. Today’s new realities fit neither the assumption of the Left not those of the Right. They don’t mesh at all with “what everybody know.” They differ even more from what everybody, regardless of political persuasion, still believes reality to be. “What is” differs totally from what both the Right and the Left believe “ought to be.” The greatest and most dangerous turbulence today results from the collision between the delusions of the decision makers – whether in governments, in the top managements of businesses, or in union leadership – and the realities. But a…
An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] Gross External Debt Position By Sector (Million US$) Gross External Debt Position 31-Mar-18 30-Jun-18 30-Sep-18 31-Dec-18 31-Mar-19 (R ) 30-Jun-19 (P ) General government 62,937 64,142 65,382 65,574 68,412 67,800 Short-term 1,711 1,617 1,321 1,037 1,111 1,264 Money market instruments 0 0 0 0 0 0 Loans 1,711 1,616 1,321 1,037 1,111 1,264 Trade credits 0 0 0 0 0 0 Other debt liabilities 0 0…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan Open Market Forex Rates (Oct 04 2019) Currency Symbol Buying Selling Australian Dollar AUD 104.5 106.5 Bahrain Dinar BHD 404 406 Canadian Dollar CAD 118 120.5 China Yuan CNY 21.85 22 Danish Krone DKK 22.8 23.1 Euro EUR 171 173.5 Hong Kong Dollar HKD 19.9 20.15…
Inflation By Consumer Income Groups (Base Year 2007-08=100) Combined Upto Rs.8000 Upto Rs. 8001-12000 Upto Rs. 12001-18000 Upto Rs. 18001-35000 Above Rs.35000 2008-09 17.0 18.0 17.8 18.1 17.6 16.8 2009-10 10.1 10.5 10.5 10.6 10.3 9.8 2010-11 13.7 14.5 14.3 13.0 14.7 13.3 2011-12 11.0 10.0 10.6 10.5 10.8 11.5 2012-13 7.4 7.9 8.6 8.4 6.8 6.4 2013-14 8.6 8.8 8.5 9.1 9.1 8.3 2014-15 4.5 3.7 3.8 4.3 4.4 4.8 2015-16 2.9 2.4 2.8 2.4 3.0 3.0 2016-17 4.2 3.8 3.9 3.9 4.1 4.3 2017-18 3.9 2.8 3.1 3.2 3.5 4.6 Jul-Apr 2017-18 3.8 2.7 3.0 3.1 3.3 4.4…
Internet technology has prompted significant changes in numerous aspects of society and human life also in shopping culture. An important phenomenon, surrounding the human life as a continuum, is shopping by the internet or through e-commerce. Experts believe that shopping through the internet has interconnections with many disciplines like; law, economics, psychology, and marketing. Many academicians, researching in various disciplines, studied this problem. However, shopping through the internet involves technological, social, economical, behavioral, and educational dimensions. They have also recorded that online shopping is becoming a suitable way to make all purchases, whether we are at home in office, or…
International researchers revealed that the consumer behavior starting from knowing about the product and ending in actual purchase; is determined through various factors. Many studies on factors affecting consumer purchase behavior of many products are obtainable. However, relatively less research has been attempted on consumer purchase behavior of foreign goods and still less research has been done in relation to Pakistani consumers. It is also identified that certain factors like reputation of country of origin, brand image and the relationship of the country with the foreign country from where products come are particularly important. It may seem tempting and more…
STOCK EXCHANGES AROUND THE WORLD Pakistan’s stocks index extends gains, up 281 points The benchmark KSE-100 index extended gains on Friday and crossed the 33,000-point mark due to robust investor sentiment following a meeting between Army Chief Qamar Javed Bajwa and prominent businessmen. The first session remained largely range bound due to a lack of positive triggers and the index ended the session with a gain of about 100 points. Bullish sentiment prevailed in the second session, which began with a buying spree that continued till the end, helping the index close with handsome gains. At close, the benchmark KSE…
PM to launch “Mera Bacha Alert” app . PM Khan visits quake-hit Mirpur. Mera Bacha Alert Prime Minister Imran Khan directed relevant authorities to introduce the mobile application called “Mera Bacha Alert” in 2-week to effectively tackle the cases of childrens’ abduction, sexual abuse, and murders. PM Imran discussed about the app, which — in case of registration of a missing child — would speedily make their details available to the provincial inspectors-general of police (IGPs) and other senior police officers. It is also said that the “Mera Bacha Alert” app would be connected with the Pakistan Citizen Portal app in…
Indonesia’s Jokowi promises to make new labour and investment rules Indonesian President Joko Widodo said he will introduce sweeping changes to labour rules by the end of the year and open up more sectors of the economy to foreign investment, delivering on some of the major reforms investors have been demanding. Mr Joko, more popularly known as Jokowi, said planned changes to the labour law will apply to new employees, proposals he will discuss with labour unions before taking them to parliament. By restricting the rules to new jobs only, Mr Joko can attract businesses wanting to set up shop…
WORLDWIDE SHIPPING INDUSTRY Baltic index down for 6th straight session on sliding Panamax rates The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, posted its sixth consecutive fall on Wednesday, hurt by declining demand for the panamax vessel segment. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell marginally by 6 points, or 0.33percent, to 1,803, its lowest since mid-August. The panamax index dropped for a twelfth straight session, down 20 points, or 1.15 percent, at 1,725. The index is at its lowest since July 8. Average daily earnings…
WORLD COMMODITIES TRADING Oil prices up, but crude ends week down 5pc Oil prices rose about 1% on Friday as an increase in U.S. jobs eased some financial market concerns that a slowing global economy could dent oil demand, but crude fell more than 5% on the week, its second consecutive weekly decline. Brent crude LCOc1 futures gained 66 cents, or 1.14%, to settle at $58.37 a barrel. West Texas Intermediate (WTI) crude CLc1 futures rose 36 cents, or 0.7%, to settle at $52.81 a barrel. Brent futures fell 5.7% for the week, its biggest weekly drop since July. WTI…
A Social Ecologist For me the tension between the need for continuity and the need for innovation and change was central to society and civilization. I consider myself a “social ecologist,” concerned with man’s man-made environment the way the natural ecologist studies the biological environment. The term “social ecology” is my own coinage. But the discipline itself boasts and old and distinguished lineage. Its greatest document is Alexis de Tocqueville’s Democracy in America. But no one is as close to me in temperament, concepts, and approach as the mid-Victorian Englishman Walter Bagehot. Living (as I have) in an age of…
An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] Summary Balance Of Payments As Per BPM6 (Million US$) Description Q1 Q2 Q3 Q4 FY19 FY19 FY19 FY19 FY19 Current account balance -3,764 -4,559 -2,017 -3,168 -13,508 Current account balance without off. transfers -4,007 -4,686 -2,128 -3,317 -14,138 Exports of goods FOB 5,885 5,965 6,181 6,193 24,224 Imports of goods FOB 13,857 13,986 11,985 12,560 52,388 Balance on trade in goods -7,972 -8,021 -5,804 -6,367 -28,164…
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 ( Sep 27 2019) Currency Symbol Buying Selling Australian Dollar AUD 105.8 108.3 Bahrain Dinar BHD 402.6 104.6 Canadian Dollar CAD 118.55 121.05 China Yuan CNY 21.8 21.95 Danish Krone DKK 22.65 22.95 Euro EUR 171.1 173.5 Hong Kong Dollar HKD 19.8…
Motorway Network Sr. No. Motorway Length (Km) Status 1 Peshawar- Islamabad, M-1 156 Completed 2 Islamabad – Lahore, M-2 357 Completed 3 Havelian – Mansehra 39 Under construction 4 Hazara Motorway (E-35) 59 Under construction 5 Hakla-D.I Khan 285 Completion: Jun, 2020 6 Sialkot – Lahore 91 Completion; Dec, 2019 7 Lahore – Abdul Hakeem, M-3 230 Completion: Mar, 2019 8 Pindi Bhattian – Faisalabad, M-4 57 Completed 9 Faislabad – Gojra, M-4 58 Completed 10 Gojra- Shorkot, M-4 62 Completed 11 Shorkot – Khanewal, M-4 64 Completed 12 Khanewal – Multan, M-4 56 Completed 13 Sukkur – Multan (M-5)…
In public sector, Pakistan Railway is a single major mode of transport contributing to economic growth and offering national integration in the country. It comprises of total 470 locomotives (458 Diesel Engine and 12 Steam Engines) for 7,791 km length of route. No doubt, Pakistan Railways forms the life line of Pakistan through catering to its needs for large scale movement of freight and passenger traffic. It not only contributes to its economic growth but also promotes national integration. It endeavors to run the trains strictly in accordance to time table. It is said that the progressive freight train support…
At present the Pakistan International Airlines Corporation (PIAC) is passing through a dire financial state. However, the present government of Pakistan is very keen to make the corporation self-reliant. Attempts are underway to enhance the financial health of the corporation through reducing its losses through various means and modes. Stringent action is being taken against corruption and mismanagement by the Government of Pakistan. PIA Performance Indicators Units Year 2017 Year 2018 PIA Fleet No. of planes 36 32 Route Kms 360,937 332,303 Available Seat Million Kms 19,108 18,081 Passenger Load Factor in percent 73.20 77.3 Revenue Flown 000 Kms 75,207…
STOCK EXCHANGES AROUND THE WORLD US stocks down after talks of delisting Chinese companies U.S. stocks fell on Friday after news that the Trump administration was considering delisting Chinese companies from US stock exchanges and limit US investments into China. The tariff-sensitive Philadelphia semiconductor index extended its decline to 2.7%. The index was already under pressure from Micron Technology Inc’s tumble after it forecast a disappointing first-quarter profit. The S&P technology sector dropped 1.8%. U.S.-listed shares of Alibaba Group Holding Ltd, Baidu Inc and JD.com Inc were sharply lower High-level trade talks between Washington and Beijing are scheduled for next…
Pakistan inked MoU focusing on poverty alleviation with Bill Gates Foundation Prime Minister Khan has launched a comprehensive Poverty Alleviation Program “Ehsaas” on 27th March, 2019 with its 4 focus regions and 155 policy actions to decline inequality, invest in people and uplift lagging districts. It was estimated that under this program, the government of Pakistan would allocate an extra amount of Rs.80 billion in Pakistan’s social protection spending in the budget 2019-20 that would be raised to Rs.120 billion in 2021. Presently, the Bill & Melinda Gates Foundation (B&MGF) has inked a memorandum of understanding (MoU) with Pakistan for its…
South Asia remained fastest growing region globally South Asia remained the fastest growing region in the world last year. However, growth moderated from 7.2 percent in 2017 to 6.9 percent in 2018, along with the deceleration of growth in the rest of the world. Regional growth remained driven by domestic demand – and not exports – which resulted in another year of double-digit volume growth of imports. The value of imports was further pushed up by rising oil prices. The widening current account deficits became more difficult to finance after the Federal Reserve gradually tightened monetary policy. These tensions triggered capital…
WORLDWIDE SHIPPING INDUSTRY Baltic index hits one-month low The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday to its lowest in over a month on weaker demand across vessel categories. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 63 points, or 3percent, to 2,053 points, its lowest level since Aug. 15. The capesize index declined 153 points, or 3.8percent, to hit over a one-month low of 3,829 points. The average daily earnings for capesizes, which typically transports 170,000-180,000 tonne cargoes such as iron ore and…