World oil prices dip on soaring us production Oil prices dipped on Thursday as soaring US output, fast approaching 10 million barrels per day (bpd), outweighed a drop in American crude inventories. US West Texas Intermediate (WTI) crude futures were at $58.02 a barrel at 0540 GMT, down 7 cents from their last settlement. Brent crude futures, international benchmark for oil prices, were at $64.45 a barrel, down 11 cents. Both crude benchmarks gained around 1 percent during their previous sessions, lifted by official data showing a 6.5 million-barrel fall in US crude inventories in the week to Dec. 15…
Author: S. Kamal Hayder Kazmi
Organize Dissent The effective decision-maker organizes dissent. Decisions of the kind the executive has to make are not made well by acclamation. They are made well only if based on the clash of conflicting views, the dialogue between different points of view, the choice between different judgments. The first rule in decision making is that one does not make a decision unless there is disagreement. • Alfred P. Sloan, Jr., is reported to have said at a meeting of one of the GM top committees, “Gentlemen, I take it we are all in complete agreement on the decision here.” Everyone…
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] [divider style=”normal” top=”20″ bottom=”20″] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous Currency 110 Dec/17 110 Stock Market 38060 points Dec/17 38208 Government Bond 10Y 7.93 % Dec/17 7.93 GDP Annual Growth Rate 5.28 % Dec/16 4.58 GDP 284 USD Billion Dec/16 271 GDP Constant Prices 11777600 PKR Million Dec/16 11138200 Gross National Product 12465443 PKR Million Dec/16 11687052 Gross Fixed Capital Formation 1647268 PKR Million Dec/16…
PAKISTAN MARKET INDICATOR EXCHANGE RATES Currency Activity Thurs 9-Nov Friday 17-Nov Friday 24-Nov Friday 1-Dec Friday 8-Dec Friday 15-Dec DOLLAR Buying 107.6 107.4 107.6 107.6 107.5 110.3 Selling 107.9 107.7 107.9 107.9 107.8 110.6 POUND Buying 141.25 141.5 142.25 143.35 144.25 146 Selling 143 143.25 144 145.1 146 147.75 EURO Buying 124.5 126.25 126.75 127.25 126 128 Selling 125.7 127.45 127.95 128.45 127.2 129.2 CANADIAN $ Buying 84.3 84.25 84.5 84.5 84 84.7 Selling 85.15 85.1 85.35 85.35 84.85 85.55 JAP YEN Buying 0.9 0.91 0.93 0.92 0.91 0.96 Selling 0.93 0.94 0.96 0.95 0.94 0.99 HK $ Buying 13.35…
PAKISTAN: EXCHANGE RATES IN 2017 (Months End) Details Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DOLLAR Buying 107.6 107.3 106.45 106 106.2 106.15 107.2 107.55 106.6 107.25 107.6 Selling 107.9 107.6 106.75 106.3 106.5 106.45 107.5 107.85 106.9 107.55 107.9 POUND Buying 134.5 134 131.25 135.75 137.25 133.5 139.25 135.25 141.5 140.5 142.25 Selling 136.25 135.75 133 137.5 139 135.25 141 137 143.25 142.25 144 EURO Buying 114.5 113 114 114.5 118.5 117.75 124.5 124.25 124.25 125 126.75 Selling 115.7 114.2 115.2 115.7 119.7 118.95 125.7 125.45 125.45 126.2 127.95 CANADIAN $ Buying 81.5 81.5 79.25…
Presently, remittance constitutes an important portion of the Gross Domestic Products in various states. The United Nations projects that between 2015 and 2030, a predicted US$ 6.5 trillion in remittances will be sent to low and middle-income states. The World Bank statistics identified that the major 5 remittance recipients worldwide during 2016 were India, China, the Philippines, Mexico, and Pakistan whereas as a share of GDP, however, the major 5 recipients were Kyrgyz Republic, Nepal, Liberia, Haiti, and Tonga. According to the present statistics of State Bank of Pakistan (SBP), Pakistan received remittances amounting to $1.576 billion in November 2017,…
Foreign exchange reserves are significant assets of any country because they are importantly affected by exchange rate policy, regulations, monetary policy, external unrest and the impact of the shortages that may come from the economic environment of any state. Without the sufficient reserves the government may be forced to change the trade and exchange rate strategies, which may not be in the long run interest of the country. Accumulation of foreign reserves involve two kinds of costs, the adjustment cost and opportunity cost and we cannot say holding utmost level of reserves is helpful for the economy. When accumulation of…
Wall street at record on increasing hopes of tax overhaul Wall Street major indexes scaled new heights on Friday, with all the major sectors pushing higher as the long-awaited bill to lower corporate tax rates enters the final stretch. The final Republican tax bill is to be unveiled in Congress later in the day, with the decisive votes from both the House of Representatives and the Senate expected next week. Republican negotiators worked furiously to put the finishing touches on the bill and expanded a child tax credit in an effort to win the support of two wavering senators. At…
Largest automated container terminal in Shanghai China started trial operations of the world’s biggest automated container terminal, the Shanghai Yangshan Deep Water Port, in eastern China, on Sunday (Dec 10), Chinese official media reported. Located at the south of Donghai Bridge, phase 4 of the Yangshan Port covers 2.23 million sq m and has a 2,350-m shoreline. Once it enters full operation, the fourth phase of the Yangshan Port will initially be able to handle 4 million TEUs (twenty-foot equivalent units). The number will expand to 6.3 million TEUs later on. The automated terminal not only increases the port’s handling…
World oil prices soar Oil prices rose on Thursday as a pipeline outage in Britain continued to support prices despite forecasts showing global crude surplus in the beginning of next year. US West Texas Intermediate futures settled up 44 cents, or 0.8 percent, to $57.04 a barrel. Brent crude futures settled up 1.4 percent, or 87 cents, at $63.31 a barrel. Prices have been supported by an outage on the Forties crude pipeline that was expected to last several weeks. The Paris-based International Energy Agency (IEA) expects the oil market to have a surplus of 200,000 barrels per day (bpd)…
The Right Compromise “Half a loaf is better than no bread.” One has to start out with what is right rather than what is acceptable (let alone who is right) precisely because one always has to compromise in the end. But if one does not know what is right to satisfy the specifications and boundary conditions, one cannot distinguish between the right compromise and the wrong compromise —and will end up by making the wrong compromise. There are two different kinds of compromise. One kind is expressed in the old proverb, “Haifa loaf is better than no bread.” The other…
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. [ads2] [divider style=”normal” top=”20″ bottom=”20″] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous Currency 109 Dec/17 109 Stock Market 38280 points Dec/17 38820 Government Bond 10Y 7.93 % Dec/17 7.93 GDP Annual Growth Rate 5.28 % Dec/16 4.58 GDP 284 USD Billion Dec/16 271 GDP Constant Prices 11777600 PKR Million Dec/16 11138200 Gross National Product 12465443 PKR Million Dec/16 11687052 Gross Fixed Capital Formation 1647268 PKR Million Dec/16…
PAKISTAN MARKET INDICATOR EXCHANGE RATES Currency activity Friday 28-Oct Thurs 9-Nov Friday 17-Nov Friday 24-Nov Friday 1-Dec Friday 8-Dec DOLLAR Buying 107.25 107.6 107.4 107.6 107.6 107.5 Selling 107.55 107.9 107.7 107.9 107.9 107.8 POUND Buying 140.5 141.25 141.5 142.25 143.35 144.25 Selling 142.25 143 143.25 144 145.1 146 EURO Buying 125 124.5 126.25 126.75 127.25 126 Selling 126.2 125.7 127.45 127.95 128.45 127.2 CANADIAN $ Buying 83.5 84.3 84.25 84.5 84.5 84 Selling 84.35 85.15 85.1 85.35 85.35 84.85 JAP YEN Buying 0.9 0.9 0.91 0.93 0.92 0.91 Selling 0.93 0.93 0.94 0.96 0.95 0.94 HK $ Buying 13.35…
Export From Pakistan (Value In ‘000.$) Country July-February Change July-February 2016-17 2015-16 VALUE % 2016-17 2015-16 % Share 1 U.S.AMERICA 2,234,815 2,328,206 (93,391) (4.01) 16.80 16.80 2 CHINA 1,038,951 1,153,551 (114,600) (9.93) 7.81 8.32 3 UNITED KINGDOM 1,018,761 1,055,288 (36,527) (3.46) 7.66 7.61 4 AFGHANISTAN 822,011 962,030 (140,019) (14.55) 6.18 6.94 5 GERMANY 789,708 746,381 43,327 5.80 5.94 5.39 6 SPAIN 541,555 532,110 9,445 1.78 4.07 3.84 7 UNITED ARAB EMIRATES 479,652 550,243 (70,591) (12.83) 3.61 3.97 8 NETHERLANDS 438,453 435,958 2,495 0.57 3.30 3.15 9 BELGIUM 425,613 391,842 33,771 8.62 3.20 2.83 10 ITALY 419,523 402,144 17,379 4.32 3.15…
The United Arab Emirates (UAE) is a very prosperous country, chiefly because of its modest population base and heavy oil resources. The large budget surpluses attained have enabled United Arab Emirates to accumulate a sizeable current account balance, held chiefly by the governments of the individual Emirates and partly by other private establishments. Experts mentioned through different studies that UAE has attained impressive progresses in various economic and social development indicators during the past decades and presently it has attained an income level comparable to that of the industrialized states and is the world’s 7th largest oil producer and the…
Pakistan’s balance of trade statistics cumulative from July-October, 2017 were recorded (-) 12,107 million in US dollars while exports during October, 2017 was recorded $1,888 million (provisional) as compared to $1,675 million (provisional) during September, 2017 explaining a rise of 12.72 percent and by 7.89 percent as against to $1,750 million in October, 2016, according to official data available. The official figures also shows that the exports during July-October, 2017 totaled $7,056 million (provisional) as compared to $6,416 million during the same period of previous year explaining a rise of 9.98 percent. Experts calculated that main products/commodities of exports during…
Expanded Panama canal not the only factor in LNG shipping demand The expanded Panama Canal is causing dramatic changes in the gas trades and while this may generate significant headline figures, the effects on the shipping industry will still ultimately come down to global trade volume. Source quoted as saying last week that the Panama Canal or any other trading route doesn’t have anything to do with the demand. It’s more about the cost. The gas trades have been the sector most affected by the expansion of the canal. It is also said that on the key US-Asia trade the…
US crude exports reached 1.73m bpd in Oct US crude oil exports reached 1.73 million barrels per day in October compared with 1.47 million bpd in September, foreign trade data from the US Census Bureau showed this week. Exports reached 22 different countries in the month, including top destinations of Canada (279,000 bpd), China (448,000 bpd) and the Netherlands (181,000 bpd). US exports left to Poland, Togo, Turkey and Trinidad and Tobago for the first time, according to data from the US Energy Information Administration. Domestic exports totaled nearly 1.68 million bpd, while foreign exports totaled 52,675 bpd [divider style=”normal”…
Harmonize the Immediate Long-range Future A manager must, so to speak, keep his nose to the grindstone while lifting his eyes to the hills-quite an acrobat feat. A manager has two specific tasks. The first is creation of a true whole that is larger than the sum of its parts, a productive e more than the sum of the resources put into it. The second specific task of the manager is to harmonize in every decision and actions the requirements of the immediate and of the long-range future. A manager cannot sacrifice either without endangering the enterprise. If a manager…
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. [ads2] [divider style=”normal” top=”20″ bottom=”20″] Pakistan – Economic Indicators Overview Last Reference Previous Currency 105 Dec/17 105 Stock Market 39244 points Dec/17 39907 Government Bond 10Y 7.93 % Dec/17 7.93 GDP Annual Growth Rate 5.28 % Dec/16 4.58 GDP 284 USD Billion Dec/16 271 GDP Constant Prices 11777600 PKR Million Dec/16 11138200 Gross National Product 12465443 PKR Million Dec/16 11687052 Gross Fixed Capital Formation 1647268 PKR Million Dec/16…
PAKISTAN MARKET INDICATOR EXCHANGE RATES Currency Activity Friday Friday Thurs Friday Friday Friday 20-Oct 28-Oct 9-Nov 17-Nov 24-Nov 1-Dec DOLLAR Buying 107.3 107.25 107.6 107.4 107.6 107.6 Selling 107.6 107.55 107.9 107.7 107.9 107.9 POUND Buying 141 140.5 141.25 141.5 142.25 143.35 Selling 142.75 142.25 143 143.25 144 145.1 EURO Buying 126.25 125 124.5 126.25 126.75 127.25 Selling 127.45 126.2 125.7 127.45 127.95 128.45 CANADIAN $ Buying 85.4 83.5 84.3 84.25 84.5 84.5 Selling 86.25 84.35 85.15 85.1 85.35 85.35 JAP YEN Buying 0.91 0.9 0.9 0.91 0.93 0.92 Selling 0.94 0.93 0.93 0.94 0.96 0.95 HK $ Buying 13.35…
PETROLEUM PRICES IN PAKISTAN Date HOBC Premium HS Diesel LS Diesel Kerosene 1-Jun-17 Rs.72.68/Ltr Rs.72.8/Ltr Rs.81.4/Ltr Rs.44/Ltr Rs.44/Ltr 3-Apr-17 Rs.72.68/Ltr Rs.74/Ltr Rs.84/Ltr Rs.44/Ltr Rs.44/Ltr 1-Mar-17 Rs.72.68/Ltr Rs.73/Ltr Rs.83/Ltr Rs.44/Ltr Rs.44/Ltr 1-Feb-17 Rs.72.68/Ltr Rs.70.29/Ltr Rs.79.48/Ltr Rs.43.35/Ltr Rs.43.25/Ltr 16-Jan-17 Rs.72.68/Ltr Rs.68.04/Ltr Rs.77.22/Ltr Rs.43.35/Ltr Rs.43.25/Ltr 2-Jan-17 Rs.72.68/Ltr Rs.66.27/Ltr Rs.75.22/Ltr Rs.43.35/Ltr Rs.43.25/Ltr 1-Dec-16 Rs.72.68/Ltr Rs.66.27/Ltr Rs.75.22/Ltr Rs.43.35/Ltr Rs.43.25/Ltr [divider style=”dotted” top=”5″ bottom=”5″] [divider style=”dotted” top=”5″ bottom=”5″] [divider style=”dotted” top=”5″ bottom=”5″] [divider style=”dotted” top=”5″ bottom=”5″]
[dropcap]E[/dropcap]xperts believe that Pakistan’s import bill will reach $50 billion during this fiscal 2017-18 which will chiefly disturb the Pakistan’s Balance of Payments (BoP) level. Pakistani oil industry experts presently revealed that Pakistan’s oil import bill grew about 35 percent YoY to $2.03 billion during July to August FY2018. Furthermore, the contribution of oil in total import bill was registered 21 percent, which is putting more pressure on Balance of Payments system during the period under review. The experts in Pakistan Bureau of Statistics (PBS) also mentioned that the import of petroleum products/commodities increased 19 percent in value. However, 58…
[dropcap]O[/dropcap]il industry has faced various issues for the past few years mainly because of fluctuations in global oil prices while constant instability in oil prices has disturbed business at various levels in Pakistan. It is calculated that the local oil demand is rapidly rising and the oil industry in our country and grown 9 percent because of rise in business activities and commencement of development projects in the entire country. Recently in Pakistan, it is also said that the issuance of new licenses to new oil marketing firms has raised competition manifolds. Entry of worldwide players in the oil industry…
US STOCKS END LOWER Wall Street fell on Friday, whipsawed by developments with a probe into Russia’s alleged involvement in the US election as well as with progress on a tax bill in Congress. Major indexes ended lower after an ABC News report that former national security adviser Michael Flynn was prepared to testify that before taking office President Donald Trump had directed him to make contact with Russians. The benchmark S&P 500 was down as much as 1.6 percent following the report. Flynn pleaded guilty on Friday to lying to the FBI about contacts with Russia’s ambassador. But stocks…
[dropcap]P[/dropcap]URSUING PERFECTION “THE GODS CAN SEE THEM.” The greatest sculptor of ancient Greece, Phidias, around 440 bc made the statues that to this day, 2,400 years later, still stand on the roof of the Parthenon in Athens. When Phidias submitted his bill, the city accountant of Athens refused to pay it. “These statues stand on the roof of the temple, and on the highest hill in Athens. Nobody can see anything but their fronts. Yet, you have charged us for sculpturing them in the round, that is, for doing their backsides, which nobody can see.” “You are wrong,” Phidias retorted.…
[dropcap]A[/dropcap]n 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. [ads2] [padding right=”15%” left=”15%”][/padding][tie_list type=”plus”] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous Currency 105 Nov/17 105 Stock Market 39922 points Nov/17 39673 Government Bond 10Y 7.93 % Nov/17 7.93 GDP Annual Growth Rate 5.28 % Dec/16 4.58 GDP 284 USD Billion Dec/16 271 GDP Constant Prices 11777600 PKR Million Dec/16 11138200 Gross National Product 12465443 PKR Million Dec/16 11687052 Gross Fixed Capital Formation 1647268 PKR Million Dec/16…
PAKISTAN MARKET INDICATOR EXCHANGE RATES Currency Activity Friday Friday Friday Thurs Friday Friday 13-Oct 20-Oct 28-Oct 9-Nov 17-Nov 24-Nov DOLLAR Buying 107.2 107.3 107.25 107.6 107.4 107.6 Selling 107.5 107.6 107.55 107.9 107.7 107.9 POUND Buying 141.5 141 140.5 141.25 141.5 142.25 Selling 143.25 142.75 142.25 143 143.25 144 EURO Buying 126.25 126.25 125 124.5 126.25 126.75 Selling 127.45 127.45 126.2 125.7 127.45 127.95 CANADIAN $ Buying 85 85.4 83.5 84.3 84.25 84.5 Selling 85.85 86.25 84.35 85.15 85.1 85.35 JAP YEN Buying 0.92 0.91 0.9 0.9 0.91 0.93 Selling 0.95 0.94 0.93 0.93 0.94 0.96 HK $ Buying 13.4…
CEMENT INDUSTRY IN PAKISTAN CEMENT PRODUCTION CAPACITY & DESPATCHES (Operational Units Data) July to June Production Capacity(Mn. Tones) % age Incr/(Dec) Local Despatches(Mn. Tones) % age Incr/(Dec) Exports (Mn. Tones) % age Incr/(Dec) Total Despatches(Mn. Tones) % age Incr/(Dec)(Total) Capacity Utilization% age Surplus Capacity(Mn. Tones) 1990-1991 8.89 0.00% 7.29 0.00% – 0.00% 7.29 0.00% 81.99% 1.60 1991-1992 8.89 0.00% 7.71 5.79% – 0.00% 7.71 5.79% 86.74% 1.18 1992-1993 8.89 0.00% 8.32 7.94% – 0.00% 8.32 7.94% 93.62% 0.57 1993-1994 9.05 1.77% 8.14 -2.26% – 0.00% 8.14 -2.26% 89.92% 0.91 1994-1995 10.17 12.43% 8.38 3.00% – 0.00% 8.38 3.00% 82.37% 1.79…
[dropcap]011[/dropcap]Economic managers see the higher cement demand in any state is a sign of its growing economy having positive impact on the different industrial units connected with construction sector. In Pakistan, researcher calculated that cement consumption in October 2017 continued to surge as the monthly dispatches of the commodity register high mark of 4.222 million tons, which is 19.71 percent larger than 3.526 million tons dispatches in the corresponding period last year. The experts also mentioned that the total dispatches of cement in Pakistan stood 14.570 million tons in the first four months of present fiscal year that is 16.53…
[dropcap]I[/dropcap]nfrastructure is an important tool for development of any country because it attracts the foreigners to invest in the country. It is also a fact that a nation cannot survive or achieve the economic targets unless it evolves a large scale infrastructure network and for which cement is always considered as a barometer of progress in developing state and is rightly taken as a significant economic activity indicator. Bestway Cement Limited is the second largest cement producer of Pakistan and a joint owner of Pakistan’s third largest bank, United Bank Limited. Bestway Cement is part of the Bestway Group of…
US STOCKS AT RECORD HIGH Technology stocks led the S&P 500 and Nasdaq to record closing highs on Friday, with the S&P ending above 2,600 points for the first time, while Amazon and retail stocks got a boost from signs of a strong start to the holiday shopping season. The benchmark S&P 500 and the blue-chip Dow Jones industrials posted weekly gains for the first time in three weeks while the Nasdaq Composite posted its best weekly performance since the week to Sept. 1. The Dow rose 31.81 points, or 0.14 percent, to 23,557.99, while the S&P gained 5.34 points,…
[dropcap]C[/dropcap]ONTROLS FOR NONMEASURABLE EVENTS A BALANCE BETWEEN THE MEASURABLE AND THE NONMEASURABLE IS A CENTRAL AND CONSTANT PROBLEM OF MANAGEMENT. Business, like any other institution, has important results that are incapable of being measured. Any experienced executive know companies or industries that are bound for extinction because they cannot attract or hold able people. This, every experienced executive also knows, is a more important fact about a company or an industry that last year’s profit statement. Yet the statement cannot be defined clearly let alone “quantified.” It is anything but “intangible”; it is very “tangible” indeed. It is just nonmeasurable.…
[dropcap]A[/dropcap]n 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. [ads2] [padding right=”15%” left=”15%”][/padding][tie_list type=”plus”] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous Currency 105 Nov/17 105 Stock Market 40502 points Nov/17 40592 Government Bond 10Y 7.93 % Nov/17 7.93 GDP Annual Growth Rate 5.28 % Dec/16 4.58 GDP 284 USD Billion Dec/16 271 GDP Constant Prices 11777600 PKR Million Dec/16 11138200 Gross National Product 12465443 PKR Million Dec/16 11687052 Gross Fixed Capital Formation 1647268 PKR Million…
PAKISTAN MARKET INDICATOR EXCHANGE RATES Currency Activity Friday 6-Oct Friday 13-Oct Friday 20-Oct Friday 28-Oct Thurs 9-Nov Friday 17-Nov DOLLAR Buying 106.6 107.2 107.3 107.25 107.6 107.4 Selling 106.9 107.5 107.6 107.55 107.9 107.7 POUND Buying 139.5 141.5 141 140.5 141.25 141.5 Selling 141.25 143.25 142.75 142.25 143 143.25 EURO Buying 124.5 126.25 126.25 125 124.5 126.25 Selling 125.7 127.45 127.45 126.2 125.7 127.45 CANADIAN $ Buying 85 85 85.4 83.5 84.3 84.25 Selling 85.85 85.85 86.25 84.35 85.15 85.1 JAP YEN Buying 0.91 0.92 0.91 0.9 0.9 0.91 Selling 0.94 0.95 0.94 0.93 0.93 0.94 HK $ Buying 13.35…
OUTSTANDING DOMESTIC DEBT – (Rs. in billion) Details 2010 2011 2012 2013 2014(P) 2015(P) 2016(P) Floating Debt 2,399.1 3,235.4 4,143.1 5,196.2 4,610.9 4,612.6 4,964.5 Treasury Bills through Auction 1,274.1 1,817.6 2,383.4 2,921.0 1,758.6 2,331.3 2,689.6 Rollover of Treasury Bills discounted SBP 0.5 0.5 0.5 0.5 0.5 0.5 0.5 Market Related Treasury Bills (MRTBs) 1,124.4 1,417.3 1,759.2 2,274.7 2,851.8 2,280.9 2,061.7 Bai Muajjal – – – – – – 212.6 Unfunded Debt 1,457.5 1,655.8 1,798.0 2,146.5 2,303.8 2,570.3 2,666.6 Defence Savings Certificates 224.7 234.5 241.8 271.7 284.6 300.8 305.7 Khas Deposit Certificates and Accounts 0.6 0.6 0.6 0.6 0.6 0.6 0.6…
[dropcap]T[/dropcap]he people of Pakistan mostly want to perform and adopt lifestyles from the other part of the world, specially the Western countries because most of them lived there such as USA, UK, Canada, Middle East, Australia and also the Scandinavian nations, studies revealed. As a results, these emigrants and their children totally influence to their cultural and society. It is said that Pakistani culture comprises of dissimilar cultures beginning from the Sindhis and Punjabis to the tribal cultures of the eastern most Pakistani regions. It is said that these cultures have powerfully been influenced by surrounding cultures of Central Asia,…
[dropcap]M[/dropcap]any educators state that studying in the same-sex education system makes a person lack in self-confidence. However, co-education builds confidence in students and makes them a complete person to live globally is the international set of norm of education. There are very few people who criticize the co-education system by many logics and precedents. In co-education environments students have more opportunity for learning and increase their skills also. We know that it is a modern concept and was first introduced in Switzerland but later on it spread globally. Educators in the different international or local conferences have mentioned that having…
US SHARES RETREAT AS MARKET PONDERS TAX CUT PROSPECTS Wall Street stocks fell early Friday, pausing after the prior session’s rally as investors tried to fuss out the prospects for President Donald Trump’s tax cut plan. The House of Representatives, as expected on Thursday approved its version of the tax reform legislation, while a key Senate panel cleared a different version. However, the path to a majority is considered much tougher in the upper chamber of Congress than in the House. Leading analysts vary in their assessment of the odds that Washington will ultimately succeed in passing the measure. About…
[dropcap]M[/dropcap]ANAGING ONESELF: REVOLUTION IN SOCIETY MANAGING ONESELF IS BASED ON THESE REALITIES: WORKERS ARE LIKELY TO OUTLIVE ORGANIZATIONS, AND THE KNOWLEDGE WORKER HAS MOBILITY. Managing oneself is a REVOLUTION in human affairs. It requires new and unprecedented things from the individual, and especially from the knowledge worker. For, in effect, it demands that each knowledge worker think and behave as a chief executive officer. It also requires an almost 180-degree change in the knowledge workers’ thoughts and actions from what most of us still take for granted as the way to think and the way to act. The shift from…
[dropcap]A[/dropcap]n 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. [ads2] [padding right=”15%” left=”15%”][/padding][tie_list type=”plus”] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous Unemployment Rate 5.9 % Dec/16 5.9 Inflation Rate 3.8 % Oct/17 3.86 Interest Rate 5.75 % Oct/17 5.75 Balance of Trade -320278 PKR Million Oct/17 -294709 Government Debt to GDP 66.5 % Dec/16 63.2 MARKETS Currency 105 Nov/17 105 Stock Market 40817 points Nov/17 40663 Government Bond 10Y 7.93 % Nov/17 7.93 GDP GDP Annual…
PAKISTAN MARKET INDICATOR EXCHANGE RATES Currency Activity Thursday 28-Sep Friday 6-Oct Friday 13-Oct Friday 20-Oct Friday 28-Oct Thurs 9-Nov DOLLAR Buying 106.6 106.6 107.2 107.3 107.25 107.6 Selling 106.9 106.9 107.5 107.6 107.55 107.9 POUND Buying 141.5 139.5 141.5 141 140.5 141.25 Selling 143.25 141.25 143.25 142.75 142.25 143 EURO Buying 124.25 124.5 126.25 126.25 125 124.5 Selling 125.45 125.7 127.45 127.45 126.2 125.7 CANADIAN $ Buying 84.5 85 85 85.4 83.5 84.3 Selling 85.35 85.85 85.85 86.25 84.35 85.15 JAP YEN Buying 0.91 0.91 0.92 0.91 0.9 0.9 Selling 0.94 0.94 0.95 0.94 0.93 0.93 HK $ Buying 13.4…
INTEREST RATES IN PAKISTAN (%) Month SBP Reverse Repo Rate SBP Repo Rate SBP Policy (Target) Rate 11-Feb-13 9.50 7.00 – 24-Jun-13 9.00 6.50 – 16-Sep-13 9.50 7.00 – 18-Nov-13 10.00 7.50 – 17-Nov-14 9.50 7.00 – 26-Jan-15 8.50 6.00 – 24-Mar-15 8.00 5.50 – 25-May-15 7.00 5.00 6.50 14-Sep-15 6.50 4.50 6.00 23-May-16 till date 6.25 4.25 5.75 [divider style=”normal” top=”20″ bottom=”20″] DEMOGRAPHIC INDICATORS OF PAKISTAN Details 2017 Total Population (Million) 199.1 Urban Population (Million) 80.72 Rural Population (Million) 118.38 Total Fertility Rate (TFR) 3.0 Crude Birth Rate (Per thousand) 25.2 Crude Death Rate (Per thousand) 6.60 Population Growth…
[dropcap]R[/dropcap]oad accidents are very common in developing countries especially in Pakistan and the situation has become worsened day by day. Experts have mentioned in the different research reports that that mostly they (accidents) are caused by different factors such as careless driving, traffic rules violation, bad roads and faulty old vehicles. The Government of Pakistan should explore the factors that may helpful in the controlling of traffic rules violation and mitigation of road traffic accidents. The Government of Pakistan should also start effective awareness programs regarding traffic safety rules and also determine the effectiveness of law enforcement to control the…
[dropcap]R[/dropcap]ice is very famous commodity and ranks second among the staple food grain crops in Pakistan. Pakistan grows a relatively high quality of rice to fulfill domestic and export demand and even by this product the country earns large size of foreign exchange earnings. Researchers calculate that it accounts for 3.1 percent of the value added in agriculture and 0.6 percent of GDP. They also revealed that we have only two major rice-producing provinces such as; Sindh and Punjab. These provinces account for greater than 88 percent of total rice production. Due to its agro-climatic and soil presentations, Punjab is…
[dropcap]I[/dropcap]nternational studies revealed that approximately 80 percent of the world’s total proven natural gas reserves are placed in ten nations. Russia tops the list, holding about a quarter of world’s total gas reserves then comes Iran and Qatar. It has also been revealed that the worldwide natural gas consumption grew by 1.5 percent (63 bcm), quite a bit feebler than its ten years average (2.3 %); while worldwide gas production was basically flat (0.3 %), the weakest growth in gas output for thirty four year, other than in the immediate aftermath of the financial crisis. This sub-par growth went hand-in-hand…
[dropcap]S[/dropcap]ince 2000, the worldwide economic situation has been characterized by large global imbalances, in mainly elevated surpluses in the rapidly industrializing Asian states (notably China) and in northern Europe (Germany), paired with a large deficit in US. As the International Monetary Fund (IMF) has presently recorded in its 2017 external sector report, the persistence of large current account surpluses has been a previously unusual feature of the worldwide economy over the last 15 years. The IMF recorded that of 15 advanced states that had external surpluses during 2002, 12 still had them in 2008 and 11 still had them during…
[dropcap]A[/dropcap]ccording to latest World Bank report, Pakistan’s economy has the highest growth rate in the last ten years but considers corruption the major hurdle in ending extreme poverty. Corruption challenges the country has been facing since many years. The economic managers also revealed that country’s economy will be the top in the next 30 years if the Government of Pakistan comes successful in getting rid of corruption. No doubt, Pakistan is a developing state for which the eradication of corruption has become the voice of whole nation for its development. The Global Competitiveness Report 2017-18 also identifies corruption as the…
GULF MARKETS REBOUND A BIT AFTER SLIDE BECAUSE OF SAUDI GRAFT INQUIRY Gulf stock markets rebounded slightly on Thursday after a jittery week in which most dropped because of concern about Saudi Arabia’s anti-corruption purge, which could reduce Saudi fund flows to the region. The Saudi stock index spent most of the day lower before closing 0.3 percent higher. Similar trading patterns were seen every day this week after authorities announced the arrest of dozens of senior officials and businessmen in the investigation and froze over 1,700 domestic bank accounts. Wealthy Saudi individuals, fearful that they could be implicated in…
OIL MARKETS SPRING BACK AS OPEC, RUSSIA SUPPORT Oil prices held steady on Thursday after falling late in the previous session, supported by ongoing supply cuts led by OPEC and Russia. Brent futures were at $63.66 per barrel at 0246 GMT, up 17 cents, or 0.3 percent, from their last close, but about $1 off the over two-year high of $64.65 a barrel reached earlier this week. US West Texas Intermediate (WTI) crude was at $56.94 per barrel, up 13 cents, or 0.2 percent, but also some way off this week’s more than two-year high of $57.69 a barrel. [divider…
BALTIC SEA FREIGHT INDEX RISES The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Wednesday, mainly driven by increased rates for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 9 points, or 0.61 percent, to 1,486 points. The capesize index was up 158 points, or 5.1 percent, at 3,259 points, its highest percentage increase in over a month. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $983 to $21,980. [divider style=”normal” top=”20″…
[dropcap]B[/dropcap]ALANCE CONTINUITY AND CHANGE PRECISELY BECAUSE CHANGE IS A CONSTANT, THE FOUNDATIONS HAVE TO BE EXTRA STRONG. The more an institution is organized to be a change leader, the more it will need to establish continuity internally and externally, the more it will need to balance rapid change and continuity. One way is to make partnership in change the basis of continuing relationships. Balancing change and continuity requires continuous work on information. Nothing disrupts continuity and corrupts relationships more than poor or unreliable information. It has to become routine for any enterprise to ask at any change, even the most…
[dropcap]A[/dropcap]n 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. [ads2] [padding right=”15%” left=”15%”][/padding][tie_list type=”plus”] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous Unemployment Rate 5.9 % Dec/16 5.9 Inflation Rate 3.8 % Oct/17 3.86 Interest Rate 5.75 % Oct/17 5.75 Balance of Trade -294709 PKR Million Sep/17 -325042 Government Debt to GDP 66.5 % Dec/16 63.2 MARKETS Currency 105 Nov/17 105 Stock Market 41243 points Nov/17 41031 Government Bond 10Y 8.2 % Nov/17 8.2 GDP GDP Annual…
PAKISTAN MARKET INDICATOR EXCHANGE RATES Currency activity Friday 22-Sep Thursday 28-Sep Friday 6-Oct Friday 13-Oct Friday 20-Oct Friday 28-Oct DOLLAR Buying 106.7 106.6 106.6 107.2 107.3 107.25 Selling 107 106.9 106.9 107.5 107.6 107.55 POUND Buying 142 141.5 139.5 141.5 141 140.5 Selling 143.75 143.25 141.25 143.25 142.75 142.25 EURO Buying 125 124.25 124.5 126.25 126.25 125 Selling 126.2 125.45 125.7 127.45 127.45 126.2 CANADIAN $ Buying 85 84.5 85 85 85.4 83.5 Selling 85.85 85.35 85.85 85.85 86.25 84.35 JAP YEN Buying 0.92 0.91 0.91 0.92 0.91 0.9 Selling 0.95 0.94 0.94 0.95 0.94 0.93 HK $ Buying 13.4…
COUNTRY WISE FDI INFLOWS IN PAKISTAN ($ Million) Country 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 (Jul-Sep) USA 468.3 238.1 227.7 227.1 212.1 223.9 13.2 71.1 22.4 UK 294.6 207.1 205.8 633 157 169.6 151.6 68.9 12.2 U.A.E 242.7 284.2 36.6 22.5 -47.1 213.6 109.7 55.8 22.1 Japan 26.8 3.2 29.7 30.1 30.1 71.1 35.4 45.2 13.3 Hong Kong 9.9 125.6 80.3 242.6 228.5 136.2 93.3 25 0 Switzerland 170.6 110.5 127.1 149 209.8 -6.5 58 16.9 0.6 Saudi Arabia -133.8 6.5 -79.9 3.2 -40.1 -64.8 24 1.9 0.2 Germany 53 21.2 27.2 5.5 -5.7 -18.2 -10.6 -5.2…
[dropcap]I[/dropcap]n any state, tax revenues are the most effective way to grow country’s domestic resource mobilization efforts by which the state increases its income to meet compulsory public expenditures. I would like to mention here that the developing states face lower tax collection as compared to target amount because of inefficiencies in tax collection procedure. If we talk about Pakistan where many factors are identified that affect tax collection in the country. Because of some major issues such as political backwardness, poor economic development, undefined taxation strategies and unsuitable institutional capacity, the Government of Pakistan is still not successful to…
[dropcap]E[/dropcap]conomic leaders of Pakistan calculating that the country’s debt-to-GDP ratio has been growing since FY 2008 and even mentioned that the portion of total debt which has a direct charge on government revenues also the debt attained from the International Monetary Fund (IMF) is defined as public debt. Public debt has two major components like; domestic debt and external debt. The Government of Pakistan has mentioned in its statement that the gross public debt was Rs20,873 billion as at end March 2017 while net public debt was Rs18,893 billion. Gross public debt registered a rise of Rs1,194 billion during first…
NASDAQ, S&P 500 AT FRESH RECORDS AFTER STRONG TECH EARNINGS The Nasdaq and S&P 500 powered to fresh records Friday following blowout earnings from Amazon and other tech giants and a bullish update from Apple on its latest smartphone. At the closing bell, the tech-rich Nasdaq Composite Index stood at 6,698.85, up 2.2 percent. The broad-based S&P 500 rose 0.8 percent to 2,581.09, also a finishing record, while the Dow Jones Industrial Average gained 0.1 percent to 23,434.16. [divider style=”normal” top=”20″ bottom=”20″] DISAPPOINTING FINANCIAL CONSEQUENCES DRAG PAKISTAN STOCKS DOWN The stock market succumbed to political noise on a day when…
GROWING TEA PRODUCTION IN BANGLADESH The move by the government to increase tea production as well as improve the conditions of the tea gardens is quite timely and, thus, most welcome. Tea industry, apparently a trouble-free production sector, is reportedly showing signs that warrant urgent and steadfast actions to sustain its very existence in the not-too-remote future. This is not to say that this promising sector has so long been left to its own fate. Some extension activities have taken place, newer technologies have also been introduced to some tea estates. But absence of required investment, lack of gas and…
ASIA OIL 180-CST CASH PREMIUMS PARE GAINS Cash premiums of Asia’s 180-cst high-sulphur fuel oil gave up gains made in the previous session as buying interest for the lower viscosity fuel oil dried up following a 2017 record volume of cargo deals for the fuel seen in the previous session, trade sources said. Liquidity in the front-month visco spread was also limited on Wednesday, keeping the swap price differential between the 180-cst and 380-cst fuel oils little changed, broking sources said.One cargo trade was reported in the Platts window, totaling 20,000 tons of 380-cst fuel oil. [divider style=”normal” top=”20″ bottom=”20″]…
[dropcap]T[/dropcap]HE INFANT NEW VENTURE BUSINESS ARE NOT PAID TO REFORM CUSTOMERS. Above all, the people who are running a new venture need to spend time outside: in the marketplace, with customers, and with their own sales force, looking and listing. The new venture needs to build in systematic practices to remind itself that a “product” or a “service” is defined by the customer, not by the producer. It needs to work continuously on challenging itself in respect to the utility and value that its products or services contribute to customers. The greatest danger for the new venture is to “know…
[dropcap]A[/dropcap]n 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. [ads2] [padding right=”15%” left=”15%”][/padding][tie_list type=”plus”] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous Unemployment Rate 5.9 % Dec/16 5.9 Inflation Rate 3.86 % Sep/17 3.41 Interest Rate 5.75 % Sep/17 5.75 Balance of Trade -294709 PKR Million Sep/17 -325042 Government Debt to GDP 66.5 % Dec/16 63.2 MARKETS Currency 105 Oct/17 105 Stock Market 41105 points Oct/17 41409 Government Bond 10Y 8.2 % Oct/17 8.2 GDP GDP Annual…
PAKISTAN MARKET INDICATOR EXCHANGE RATES Currency Activity Friday 15-Sep Friday 22-Sep Thursday 28-Sep Friday 6-Oct Friday 13-Oct Friday 20-Oct DOLLAR Buying 106.75 106.7 106.6 106.6 107.2 107.3 Selling 107.05 107 106.9 106.9 107.5 107.6 POUND Buying 142.25 142 141.5 139.5 141.5 141 Selling 144 143.75 143.25 141.25 143.25 142.75 EURO Buying 125.25 125 124.25 124.5 126.25 126.25 Selling 126.45 126.2 125.45 125.7 127.45 127.45 CANADIAN $ Buying 86 85 84.5 85 85 85.4 Selling 86.85 85.85 85.35 85.85 85.85 86.25 JAP YEN Buying 0.93 0.92 0.91 0.91 0.92 0.91 Selling 0.96 0.95 0.94 0.94 0.95 0.94 HK $ Buying 13.4…
CREDIT/LOANS CLASSIFIED BY BORROWERS (Million Rupees) (Outstanding position at the end of month) Description June-16 Sep-16 June-17 Sep-17P 1. Credit to Government Sector (A+B) 8,109,481 8,284,194 9,129,520 9,387,904 A. SBP Credit to Government Sector (Net) 1,454,173 2,010,749 2,338,844 2,537,888 B. Scheduled Banks Credit to Government Sector (Net) 6,655,308 6,273,445 6,790,676 6,850,015 2. Credit to Non Governmnet Sector (A+B) 4,953,192 4,868,585 6,038,125 6,016,574 A. SBP Credit to Non Govt. Sector 32,603 32,493 132,628 132,104 B. Scheduled Banks Credit to Non Govt.Sector (I+II+III) 4,920,590 4,836,092 5,905,497 5,884,471 I. Credit to PSEs 749,837 762,746 1,012,310 1,001,939 II. Credit to NBFIs 128,901 130,203 138,894…
[dropcap]I[/dropcap]nternational experts have revealed that the worldwide Islamic funds market gaining favorable prospects as several growth drivers are expecting to bring it to the next stage of development. They also estimate that global Islamic assets under management amounted to US$70.8 billion and the number of Islamic funds reached 1,5353 mark at the close of Q1 2017. It is to mention that Malaysia accounted for 28.5 percent of the total Islamic funds, followed by Saudi Arabia and Luxembourg with 15.3 percent and 13.9 percent respectively. It is believed that greater innovation and collaboration has served to boost the Islamic capital market…
[dropcap]V[/dropcap]arious researchers have revealed that the banking and financial sector progress is mandatory for economic development in any country. Pakistani banks are trying to promote capital formation, investment in new enterprises, promotion of trade and industry, savings, and development of agriculture. Presently banking adepts in Pakistan have also calculated that during January to March 2017, the volume and value of large value transactions processed through PRISM (Pakistan Real time Interbank Settlement Mechanism) system were 253,795 and Rs69.8 trillion respectively. These transactions identified a fall of 4.1 percent in volume and a rise of 20.1 percent in value as compared to…
OPTIMISTIC STREAK CONTINUES AT PSX The stock market continued to be on the positive streak and finished last trading day of the week on a positive note. The market witnessed directionless trading in early hours, however, when it resumed business after midday break, the index shot up. Investors bought stocks at attractive valuations, taking the benchmark index above 42,000-point barrier. At close, the benchmark KSE 100-share Index registered an increase of 529.82 points or 1.27 percent to finish at 42,087.89 points. The banking sector gained as United Bank (+0.87%) and MCB Bank (+2.03%) closed positive. Fauji Fertilizer Company announced its…
OIL MARKETS FIRM ON TIGHTER US PRODUCTION, OPEC CUT Oil prices were firm on Thursday, supported by ongoing supply cuts led by OPEC, tensions in the Middle East and lower production in the United States as a result of hurricane-enforced closures. Brent crude futures, the international benchmark for oil prices, were at $58.25, up 10 cents, or 0.2 percent, from their last close. US West Texas Intermediate (WTI) crude futures were at $52.11 per barrel, up 7 cents, or 0.1 percent. The US Energy Information Administration (EIA) said late on Wednesday that crude inventories fell by 5.7 million barrels in…
MEDIUM RANGE FREIGHT RATES TOUCH YEAR LOW Freight rates for Medium Range tankers have dropped and are again teetering on the edge of year-low levels a few weeks into the fourth quarter, with over tonnage pervasive and the gasoline arbitrage route westwards unattractive to traders as US stocks keep building. While the arb to the US is deemed to be “marginally” open, according to a trader, other routes out of Northwest Europe, such as trips to West Africa and the Persian Gulf, have taken a fair bit of the gasoline trade so far in October. The UK Continent-US Atlantic coast…
[dropcap]P[/dropcap]RACTICE COMES FIRST DECISION MAKERS NEED TO FACTOR INTO THEIR PRESENT DECISIONS THE “FUTURE THAT HAS ALREADY HAPPENED.” Decision makers – in government, in the universities, in business, in the labor unions, in churches – need to factor into their present decisions the future that has already happened. For this they need to know what events have already occurred that do not fit into their present-day assumptions, and thereby create new realities. Intellectuals and scholars tend to believe that ideas come first, which then lead to new political, social, economic, psychological realities. This does happen, but it is the exception.…
PAKISTAN TRADES (Million US $) Period Exports (BOP) Growth Rate Imports (BOP) Growth Rate Balance of Trade 1974-75 977.59596 -4.1287766 2114.1717 41.596028 -1136.5758 1975-76 1162.0909 18.872311 2139.3838 1.1925295 -977.29293 1976-77 1131.7172 -2.6137144 2418.0808 13.026974 -1286.3636 1977-78 1496.8687 32.265262 3174.0404 31.262793 -1677.1717 1978-79 1644.2424 9.8454687 3815.8586 20.220857 -2171.6162 1979-80 2340.8081 42.363927 4856.5657 27.273209 -2515.7576 1980-81 2798.5859 19.556399 5563.4343 14.554908 -2764.8485 1981-82 2316.068 -17.241488 5771.072 3.7321855 -3455.004 1982-83 2626.5526 13.405674 5617.5501 -2.6601974 -2990.9976 1983-84 2665.4084 1.479347 5990.3577 6.6364801 -3324.9493 1984-85 2457.6679 -7.7939462 6016.9329 0.4436323 -3559.265 1985-86 2942.9507 19.745663 6000.4012 -0.2747523 -3057.4505 1986-87 3488.0858 18.523417 5793.1782 -3.4534867 -2305.0924 1987-88 4361.3207 25.03479 6917.3383 19.404895…
[dropcap]R[/dropcap]ising international oil and other commodity prices remains a concern. These prices are predicted to move in upward direction, which would be affecting local inflation especially in Pakistan. However, given the rise in agriculture production and enough food supplies, stable exchange rate, effectual monetary policy, inflation is predicted to remain below the target of this fiscal year. Presently, the Government of Pakistan mentioned in its report that CPI (consumer price index) inflation general rose by 3.9 percent on year-on-year (YoY) basis in September 2017 as against to a rise of 3.4 percent in the last month and 3.9 percent in…
[dropcap]T[/dropcap]he proper implementation of fiscal and monetary policy can help reduce cyclical fluctuations and be able for the economy of a country to progress its GDP (gross domestic products) in the world. Many foreign economists foresee the economy of Pakistan is increasingly becoming vulnerable to external shocks and funding crisis, although it stuck to its earlier growth forecast for the country of 5.5 percent for the current FY2018, while some experts have also mentioned that Pakistan’s growth has enhanced, but the present government needs to address fiscal and external sector vulnerabilities that have reappeared with the wider current account deficit,…
PSX TOUCHES THE LOWEST FOR 2017 The stock market underwent a relentless battering in the last trading session of the week on Friday as the benchmark index dropped to a record low for the year. Undermined by endless political drama and concern over the mounting trade deficit as well as persistently falling foreign reserves, the KSE-100 index dropped from the word go. It plunged almost 750 points and hit an intra-day low of 39,478.05 points. However, as trading began after the midday break, the index posted a decent recovery with investors coming forward to pick stocks at attractive valuations. Despite…
OIL PRICES SURGE ON CHINESE IMPORT BOOST AND MIDEAST TENSIONS Oil prices firmed on Friday as bullish news from strong Chinese oil imports to turmoil in the Middle East put Brent on track for a more than 3 percent weekly gain. The developments added to other signs that the market was finally rebalancing after years of excess. Brent LCOc1 was at $57.42 at 1139 GMT, up $1.17. US West Texas Intermediate (WTI) crude CLc1 was at $51.59 per barrel, up 99 cents from its last settlement. The contracts were on track for weekly gains of more than 3 percent and…
MAQTA GATEWAY, A DIGITAL PLATFORM LAUNCHED Abu Dhabi Ports has launched Maqta Gateway, a digital platform which provides digital services to different entities including shipping agents, traders, freight forwarders, custom brokers among others to boost trade and efficiency. The new system was inaugurated in the presence of Shaikh Hamed Bin Zayed Al Nahyan, Chairman of Abu Dhabi Crown Prince’s Court last Tuesday. Maqta Gateway provides customers with all the information they need about their transactions any time and from anywhere in the world. It provides customers with all the information they need about their transactions any time and from anywhere…
[dropcap]L[/dropcap]ONG-RANGE PLANNING THE FUTURE REQUIRES NOT JUST HAPPEN IF ONE WISHES HARD ENOUGH. The future requires decisions – now. It imposes risk – now. It requires action – now. It demands allocation of resources, and above all, of human resources – now. It requires work – now. The idea of long-range planning – and much of its reality – rests on a number of misunderstandings. The long range is largely made by short-run decisions. Unless the long range is built into, and based on, short-range plans and decisions, the most elaborate long-range plan will be an exercise in futility. And…
PAKISTAN MARKET INDICATOR EXCHANGE RATES CURRENCY ACTIVITY Friday 25-Aug Friday 8-Sep Friday 15-Sep Friday 22-Sep Thursday 28-Sep Friday 6-Oct DOLLAR Buying 107.55 107.35 106.75 106.7 106.6 106.6 Selling 107.85 107.65 107.05 107 106.9 106.9 POUND Buying 135.25 137.5 142.25 142 141.5 139.5 Selling 137 139.25 144 143.75 143.25 141.25 EURO Buying 124.25 126.5 125.25 125 124.25 124.5 Selling 125.45 127.7 126.45 126.2 125.45 125.7 CANADIAN $ Buying 83.5 86.5 86 85 84.5 85 Selling 84.35 87.35 86.85 85.85 85.35 85.85 JAP YEN Buying 0.95 0.96 0.93 0.92 0.91 0.91 Selling 0.98 0.99 0.96 0.95 0.94 0.94 HK $ Buying 13.4…
PAKISTAN’S TOP 10 RICHEST BUSINESSMEN IN 2017 1) Shahid Khan 2) Mian Muhammad Mansha 3) Asif Ali Zardari 4) Sir Anwar Pervez O.B.E 5) Nawaz Sharif 6) Sadruddin Hashwani 7) Malik Riaz Hussain 8) Nasir Schon 9) Abdul Razzak Yaqoob 10) Tariq Saigol [divider style=”normal” top=”20″ bottom=”20″] DOMINANT BUSINESS WOMEN OF PAKISTAN 1. Jehan Ara 2. Marium Afzal 3. Saba Gul 4. Roshaneh Zafar 5. Shahnaz Wazir Ali 6. Maria Umar 7. Saniya Waqar Shaffi 8. Ambarine Bukharey 9. Ms. Alia Khan 10. Kalsoom Lakhani 11- Rabia Garib 12- Sabeen Mahmood 13- Salaina Haroon 14- Samina Fazil 15- Nida Farid…
[dropcap]P[/dropcap]akistan State Oil (PSO), is the largest oil marketing company and is continuing to supply greater than its market share to ensure an uninterrupted availability of petroleum products in the entire country. Despite all the issues on liquidity front, the Company is providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for industrial and individual needs. PSO’s after tax profitability has risen by Rs3.3 billion in FY 2016 as against to FY 2015. This rise was mostly because of: fall in finance cost by Rs3.9 billion on account of reduction in borrowing…
[dropcap]E[/dropcap]conomists believed that the brokerage companies run in competitive industry in which trading activities can be really impacted by the sustaining economic environment and business cycles. They also mention that the index volume can also be highly affected by event risk, especially resulting from regulatory and political developments of any country. Such factors can lead to greater volatility in earnings and productivity/profitability relative to other industries. The regulatory structure for broker companies, besides being a statutory requirement also is as significant for offering financier protection and curbing risk factors; strict adherence to the same is considered essential. In addition to…
PAKISTAN STOCKS TAKE A BREATHER AS INDEX RISES MARGINALLY The trading session provided some respite to the battered stock exchange despite volatile trading on Thursday with value buying in the opening and closing hours overcoming selling pressure to take the market up a notch. Ongoing political uncertainty also continued to dent investor interest amid thin trading in stocks listed on the KSE-100 index. At close, the benchmark KSE-100 index registered a rise of 7.49 points or 0.02 percent to stand at 40,468.49. Overall, trading volumes fell to 150 million shares compared with Wednesday’s tally of 192 million. Shares of 386…
OIL STABILIZES ON PREDICTIONS OF EXTENDED OUTPUT CUT, BUT US CRUDE EXPORTS DRAG Oil prices stabilized on Thursday on expectations that Saudi Arabia and Russia would extend production cuts, although record US exports dragged on the market. Brent crude futures, the international benchmark for oil prices, were at $55.89 per barrel, up 9 cents, or 0.16 percent, from their previous close. Russian President Vladimir Putin said on Wednesday that a pledge by the Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, to cut oil output to boost prices could be extended to the end of 2018,…
PROVINCES PLAN TO LEVY TAX ON OIL TANKERS Punjab Revenue Authority (PRA) Chairman Rahil Siddique said on Thursday that all four provincial tax bodies were on board to tax the powerful oil tanker operators and chalk out a strategy in that regard. “They blackmail the federal government through strikes which brings the entire country to a standstill,” he said while talking to the Lahore Economic Journalists Association. Such tactics would not work in the future, he emphasised and said a unanimous decision had been made to bring them under the tax net. “If the federal government protects them, then it…
[dropcap]P[/dropcap]RACTICE COMES FIRST DECISION MAKERS NEED TO FACTOR INTO THEIR PRESENT DECISIONS THE “FUTURE THAT HAS ALREADY HAPPENED.” Decision makers – in government, in the universities, in business, in the labor unions, in churches – need to factor into their present decisions the future that has already happened. For this they need to know what events have already occurred that do not fit into their present-day assumptions, and thereby create new realities. Intellectuals and scholars tend to believe that ideas come first, which then lead to new political, social, economic, psychological realities. This does happen, but it is the exception.…
PAKISTAN MARKET INDICATORS EXCHANGE RATES Currency Activity Friday 18-Aug Friday 25-Aug Friday 8-Sep Friday 15-Sep Friday 22-Sep Thursday 28-Sep DOLLAR Buying 107.7 107.55 107.35 106.75 106.7 106.6 Selling 108 107.85 107.65 107.05 107 106.9 POUND Buying 136.25 135.25 137.5 142.25 142 141.5 Selling 138 137 139.25 144 143.75 143.25 EURO Buying 124.25 124.25 126.5 125.25 125 124.25 Selling 125.45 125.45 127.7 126.45 126.2 125.45 CANADIAN $ Buying 83.25 83.5 86.5 86 85 84.5 Selling 84.1 84.35 87.35 86.85 85.85 85.35 JAP YEN Buying 0.95 0.95 0.96 0.93 0.92 0.91 Selling 0.98 0.98 0.99 0.96 0.95 0.94 HK $ Buying 13.4…
SECTOR WISE FDI INFLOWS IN PAKISTAN ($ Million) Country 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 (Jul-Aug) Oil & Gas 740.6 512.2 629.4 559.6 502 300.5 248.9 157.6 30.6 Financial Business 163 310.1 64.4 314.2 192.8 256.4 289 64.3 13.5 Textiles 27.8 25.3 29.8 10 -0.2 43.9 20 15.1 1.5 Trade 117 53 25.3 5.7 -3.2 50.5 26.8 31.6 5.6 Construction 101.6 61.1 72.1 46 28.8 53.5 46.7 467.7 55.7 Power -120.6 155.8 -84.9 28.4 71.4 282.2 1,159.20 795.4 210.8 Chemicals 112.1 30.5 96.3 71.6 94.9 60.3 88.5 12.6 Transport 132 104.6 18.7 44.1 2.7 6.2 70.2 53.5…
[dropcap]G[/dropcap]wadar port is the gateway of China-Pakistan Economic Corridor (CPEC), and one can believe that the progress of Gwadar port will bring economic gains to the province of Balochistan with potentially capable to act as industrial power house, an appropriate transit and transshipment hub in the region. Presently, it is becoming almost a proverbial to narrate Gwadar Deep Sea Port as a ‘game changer’ in trade and economic development in Pakistan. It is mentioned in the dissimilar reports that the economic advantages of Gwadar port, are: capitalizing the opportunities for trade with landlocked Central Asian Republics and Afghanistan; promotion of…
[dropcap]T[/dropcap]he Government of Pakistan proclaimed in their statistical report that Pakistan’s balance of trade in August, 2017 was (-) 3,086 million in US dollar. Although the balance of trade statistics cumulative from July-August, 2017 were recorded (-) $6,290 million. According to the provisional statistics compiled by the Pakistan Bureau of Statistics, in terms of US dollars the exports in August, 2017 was $1,866 million (provisional) as compared to $1,631 million (provisional) in July, 2017 showing an increase of 14.41 percent and by 12.89 percent as against to $1,653 million in August, 2016. Furthermore, exports during July-August 2017 was recorded at…
WALL STREET PARES GAINS AFTER DONALD OUTLINES TAX PLAN US stocks pared gains on Wednesday after President Donald Trump’s administration called for slashing tax rates but offered few details about how to pay for tax cuts without expanding the federal deficit. The plan proposed a 20 percent corporate income tax rate, a new 25 percent tax rate for pass-through businesses including partnerships and a reduced 35 percent top income tax rate for individual Americans. Six of the 11 major S&P indexes were higher, led by a 1.17 percent gain in the financial index. Shares of big banks, including Bank of…