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Monday, June 11th, 2018

 

Food Wasted in Saudi Arabia (SR49Bn) Exceeds VAT Proceeds It Estimates to Collect This Year

JUN 11, 2018 — The Saudi Kingdom has launched a national program to crack down on food waste after shocking figures estimated the cost of wastage at $13.3 billion (SR49 billion) a year . The yearly squandering of food amounts to a third of the country’s food production, and nearly 36 percent of its 2018 projected budget deficit of SR137 billion. The amount also exceeds by a factor of 2 the estimated SR23 billion in annual VAT proceeds the Kingdom expects to collect this year. The whopping figure puts SaudiRead More


Expat Pakistani Talent: There’s Not Much Here To Motivate Them to Return

DR. ISHRAT HUSAIN: There is little doubt the main driver of growth and shared prosperity in the 21st century is the knowledge economy. The evidence of this has already been demonstrated by Japan, Korea, Taiwan, Singapore, etc. China is embarking upon the same path. Most of these countries have invested heavily in their higher educational institutions and research establishments, sent hordes of young men and women for advanced studies particularly in science, technology, engineering and mathematics (STEM) subjects. These young scientists have studied at top universities, worked in cutting-edge laboratories,Read More


Shan Masala Makers Mull IPO, Acquisition as Pakistan Spices Market Hits $1.93B

*** Shan Foods also has manufacturing units in UAE, Saudi Arabia and UK; sells rice and frozen food internationally only *** Pakistan’s spices and condiments market was in 2017 estimated to be worth $1.933 billion JUN 11, 2018 — After nearly four decades of successful operations as a family-run business, Shan Foods is now considering an initial public offering (IPO) to execute its expansion plans – including a possible acquisition, and new product launches. “We are definitely considering an IPO,” Sikandar Nawaz Tiwana, Chief Executive Officer, Shan Foods told ProfitRead More


Iranian Oil Production Not Impacted Despite Looming Sanctions Threat

JUN 11, 2018 — With sanctions pressures looming over Tehran, production from OPEC’s third-largest producer, Iran, hasn’t yet been impacted, and may not significantly happen so. The Platt survey found Iranian oil production was steady at 3.83 million bpd, making it the third-largest OPEC producer behind Saudi Arabia, the top supplier, and Iraq. President Trump’s decision to pull out of the landmark Joint Comprehensive Plan of Action, a multilateral agreement that gave Iran relief from sanctions in exchange for peaceful nuclear commitments, has set a 180-day clock ticking for IranianRead More


Muslim Refugees Admitted to US Decline Sharply in 2018

JUN 10, 2018 — The number of Muslim refugees admitted to the U.S. has fallen sharply this year. According to a Pew Research Center analysis of U.S. State Department data, the number of Muslim refugees admitted to the United States in the first half of fiscal 2018 has dropped from the previous year more than any other religious group/ Only 1,800 Muslim refugees have been admitted so far this year compared with the roughly 22,900 admitted in all of fiscal 2017. The low point in Muslim admissions was set inRead More


Chaudhry Nisar Goes Solo, Files Nomination Papers As Independent

JUN 10, 2018 — In the wake of growing rifts with the party leadership, former Interior Minister and Pakistan Muslim League-Nawaz (PML-N) stalwart Chaudhry Nisar Ali Khan Sunday submitted nomination papers to contest the July 25 elections for two National Assembly and as many Punjab Assembly seats as an independent. Former PM and party supremo Nawaz was not in favor of awarding tickets to Nisar, while party president Shahbaz Sharif was. Nisar’s nomination papers were submitted with the Election Commission of Pakistan’s (ECP) Rawalpindi office for NA-59 Rawalpindi, NA-63 TaxilaRead More