Economic and Political Weekly 10-11-19

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World

Politics

· Several killed in Houthi missile, drone attack: Yemeni officials

Yemen’s rebels have staged missile and drone attacks on forces allied with the country’s internationally recognized government in a Red Sea town, killing at least eight people, including three civilians, and causing large fires, military officials said. Wadah Dobish, a spokesman for government forces on Yemen’s western coast, told The Associated Press news agency at least four missiles fired by the Iran-aligned rebels struck warehouses used by the allied forces known as the Giants Bridges in the port town of al-Makha or also known as al-Makha (Mocha) on Wednesday.

·Protester killed as fresh clashes erupt in Iraq despite cleric’s plea

Fresh clashes between Iraqi security forces and anti-government protesters broke out in Baghdad on 8th Nov, killing one person, despite a call for calm by the country’s top Shia cleric, as authorities grapple with the country’s biggest crisis in years. Security forces fired tear gas and threw stun grenades into crowds of protesters wearing helmets and makeshift body armor on a main road in the middle of the Iraqi capital, sending demonstrators scattering, some wounded.

·DRC warlord Bosco Ntaganda given 30 years for war crimes by ICC

A warlord responsible for mass murder, rape and abduction in the Democratic Republic of the Congo has been sent to prison for 30 years – the longest sentence the International Criminal Court has ever given out. The punishment handed to Bosco Ntaganda (46) on 7th Nov was immediately welcomed by human rights activists.

·Turkey captures wife and Sister of dead Isis leader, says Erdogan

Turkey has captured a wife and sister of the dead leader of Islamic State Abu Bakr al-Baghdadi, President Recep Tayyip Erdogan said. One of al-Baghdadi’s aides has said the shadowy Islamic State – also known as Isis – leader had four wives, the maximum number allowed at one time under Islamic law. “We caught his wife and sister but we didn’t make a fuss about it. I am announcing this today for the first time,” Mr Erdogan said, while criticizing the United States for leading a “communications campaign” about al-Baghdadi’s death

·Michael Bloomberg poised to enter US presidential race

Michael Bloomberg, the former mayor of New York, is actively considering entering the US presidential race, potentially disrupting the contest to become the Democratic nominee for next year’s election. The billionaire businessman earlier this year announced that he would not run for the Democratic nomination, but he was expected to register as a candidate on 8th Nov in Alabama, a state with a deadline of November 8th for primary candid

·Dozens missing, 37 killed following mine worker ambush in Burkina Faso

Dozens of people were feared still missing on 7th Nov after an ambush on workers near a Canadian-owned mine in Burkina Faso killed at least 37, the worst such attack for years in a nation plagued by jihadist violence. Quebec-based gold miner Semafo said five of its buses with a military escort came under fire on the road leading to its Boungou mine in the eastern region of East, about 40km from Boungou, on 6th Nov.

Economy

GLOBAL INDICES AS OF 9th November 2019

As compared to 2nd November 2019   

Global indices as of 9th November 2019
Name Current Value Prev

.Close

US MARKETS
 NASDAQ (Nov 08) 8,475.31 8434.52
EUROPEAN MARKETS
 FTSE (Nov 08) 7,359.38 7406.41
 CAC (Nov 08) 5,889.70 5890.99
 DAX (Nov 08) 13,228.56 13289.46
ASIAN MARKETS
 SGX NIFTY (Nov 09) 11,950.50 11947.00
 NIKKEI 225 (Nov 08) 23,391.87 23330.32
 STRAITS TIMES (Nov 08) 3,264.30 3285.72
 HANG SENG (Nov 08) 27,651.14 27847.23
 TAIWAN WEIGHTED (Nov 08) 11,579.54 11606.56
 KOSPI (Nov 08) 2,137.23 2144.29
 SET COMPOSITE (Nov 08) 1,637.85 1640.88
 JAKARTA COMPOSITE (Nov 08) 6,177.99 6165.62
 SHANGHAI COMPOSITE (Nov 08) 2,964.18 2978.71
Global indices as of 2nd November 2019
Name Current Value Prev.

Close

US MARKETS
 NASDAQ (Nov 01) 8,386.40 8292.36
EUROPEAN MARKETS
 FTSE (Nov 01) 7,302.42 7248.38
 CAC (Nov 01) 5,761.89 5729.86
 DAX (Nov 01) 12,961.05 12866.79
ASIAN MARKETS
 SGX NIFTY (Nov 02) 11,957.50 11937.50
 NIKKEI 225 (Nov 01) 22,850.77 22927.04
 STRAITS TIMES (Nov 01) 3,229.43 3229.88
 HANG SENG (Nov 01) 27,100.76 26906.72
 TAIWAN WEIGHTED (Nov 01) 11,399.53 11358.71
 KOSPI (Nov 01) 2,100.20 2083.48
 SET COMPOSITE (Nov 01) 1,592.52 1601.49
 JAKARTA COMPOSITE (Nov 01) 6,207.19 6228.32
 SHANGHAI COMPOSITE (Nov 01) 2,958.20 2929.06

 

Pakistan

Politics

  • Nawaz Sharif’s personal physician, Dr Adnan Khan, on 8th Nov said the former premier’s condition was “critical” while two British doctors, according to family sources, advised the Sharif family to bring Nawaz to London for specialized treatment immediately.

Dr Khan also endorsed the view that the PML-N supremo needs to be shifted abroad for treatment. “Former Prime Minister Nawaz Sharif is critically unwell,” Dr Khan said in a post on Twitter, adding that the platelet count of the patient was unstable despite maximum therapy. Nawaz have now also agreed to travel abroad for medical treatment

  • The National Assembly in a frenzied session managed to get business done on 7th Nov, with lawmakers passing 11 bills presented by the government despite the opposition’s vehement protest.

A total of 15 bills including 13 presidential ordinances were tabled by the government today, the first day of the ongoing NA session. Out of these 11 bills including nine ordinances were passed by the lower house. The ordinances passed in the shape of bills include seven recently promulgated by President Arif Alvi. The assembly also approved a 120-day extension to three presidential ordinances.

  • Maulana Fazlur Rehman’s Azadi March is turning out to be as mystifying and perplexing as his politics.

On the surface, the situation is a mess. A large number of people are camped at H9. All day these amassed men mill around the place; all evening they regale themselves with speeches by an assortment of opposition grandees. The evening climaxes with the address of their undisputed leader who tells them, night after night, to wait for his instructions. Those instructions are still being baked in the oven of consultations that don’t seem to reach the right warmth.

Economy

  • International Monetary Fund (IMF) mission and the local authorities reached a staff-level agreement on the first review under the Extended Fund Facility (EFF) for Pakistan after it was observed that the end-September performance criteria “were met with comfortable margins”.

The IMF mission, on the basis on its preliminary findings, will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision making. “All performance criteria for end-September were met with comfortable margins and progress continues towards meeting all structural benchmarks,” said the mission in its statement.

F.C Exchange Rates of PKR as of 9th November 2019 as compared to2nd November  2019
Countries PKR rate as of 2nd November   2019 PKR rate as of   9th November  2019
U.S.A. $ 156.00 155.70
U.K. Pounds 202.10 201.00
Euro 174.60 173.50
Japan Yen 1.45 1.45
Saudi Arabia Rial 41.70 41.60
U.A.E. Dirham 42.70 42.55

Pakistan Stock Exchange Indices

As of 9th November 2019 As Compared

To 2nd November 2019        

 

Position as of 9th November 2019
Symbols KSE100 Index PSX-KMI All Shares Index
Advance 193 (Curr) Current 35978.16 Current 16908.63
Decline 131 (High) High 36048.52 High 16965.86
Unchanged 21 (Low) Low 35758.52 Low 16812.87
Total Change 345  219.64  95.76

 

Position as of 2nd November 2019
Symbols KSE100 Index PSX-KMI All Shares Index
Advance 164 (Curr) Current 34377.61 Current 16248.88
Decline 133 (High) High 34489.51 High 16358.66
Unchanged 38 (Low) Low 34108.10 Low 16157.03
Total Change 335  173.93  37.76

 

 

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