Category: Uncategorized

The US Federal Reserve (“Fed”) said that it is planning rate hikes for FY23. These rate hikes came to light through the Fed’s projections and analyses for the first post-pandemic interest rate hikes and with a specific focus on when and how it would be best.   The US Fed planning its rate hikes is…

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NATO leaders meeting in Europe designated China as presenting “systemic challenges”. This was declared a priority for US President Joe Biden as well. China denounced this development.   The US President urged NATO leaders to stand up to China’s “authoritarianism” and growing military might, and to understand that China is a “security risk” to the…

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G7 leaders rebuked China over what they termed as ‘human rights violations in China’s Xinjiang region, called for Hong Kong to keep a high degree of autonomy and demanded a full and thorough investigation of the origins of the coronavirus in China’.   China’s rise has made the G7 uncomfortable especially in a post COVID…

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Pakistan Economic Survey FY21 was presented showing a 3.94% growth over -0.5% for FY20. This is a V shaped recovery which is endorsed by JP Morgan as well. Major details were:   Growth for sectors was:   Services 4.43% Agri 2.8% Industrial 3.57% Large scale Manufacturing 8.99% Interest rate 7% Inflation was 8.8% (last: 10.9%)…

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Pakistan’s trade deficit for the July to May FY21 period increased by 30.6% to $27.5 billion (last: $21.1 billion).   Pakistan’s imports for the period increased 22.5% to $50.1 billion (last: $40.849 billion). Exports increased 14% to $22.6 billion (last: $19.8 billion).   Quarterly Review Video.

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The IMF said that economic activity in Pakistan in FY21 has picked up and is estimated at 3.9%. in FY20, economic activity had dampened due to the COVID restrictions.   The IMF said in its “Policy Actions Taken by Countries,” report which reviewed steps taken by countries in COVID. Regarding Pakistan the report said that…

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FATF‘s Asia Pacific Group, a regional body, conducted its second Mutual Evaluation Report (MER) and found Pakistan compliant or largely compliant in 31 / 40 of the recommendations. These recommendations were regarding terrorism financing and money laundering. The APG reported, “Pakistan has 31 Recommendations rated C/LC. Pakistan will move from enhanced (expedited) to enhanced follow-up,…

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Reports came out of India that more people were arrested for illegal uranium trade in India. The Ministry of Foreign Affairs of Pakistan demanded an investigation into this.   The police in Indian Jharkhand state arrested seven people for possessing and planning to sell 6 kg of ‘mineral uranium’ in the black market, according to…

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The OECD said that it has raised its 2021 global GDP growth forecast , but warned that “too many headwinds remain”, with limited COVID vaccines reaching emerging economies and inflation starts to reach markets. The OECD said that the world economy will expand by 5.8% in FY21, the highest since 1973 and up from a…

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The Federal Board of Revenue’s (FBR) tax collection for 11 months rose 18%, with provisional collections standing at Rs. 4.167 trillion (last: Rs. 3.532 trillion).   This improved collection is seen as an improvement in the governance structure of the GOP. Quarterly Review Video.

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Pakistan’s Federal Minister for National Food Security and Research, Fakhar Imam, said that Pakistan is experiencing record production of   – Wheat, 27.3 million tons (last: 25.3 million tons) – Maize, 8.645 million tons (last: 7.88 million tons) – Rice, 8.41 million tons   Quarterly Review Video.

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The WTO said that global trade is accelerating from the last year drop, although there are regions which are lagging. One of the major reasons for the lag is the unequal roll out of vaccinations.   The WTO said its goods trade barometer had surged to 109.7 points in May, (with a baseline of 100),…

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