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Chief Editor: Nadeem A. Jamal Volume: 3 Issue: 1, January 2009 editor@businessmonitorpk.com













by KSE





 
 
 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Researchers probe brain's communication infrastructure
Washington University School of Medicine researchers are taking the first direct look at one of the human brain's most fundamental "foundations": a brain signal that never switches off and may support many cognitive functions. Their findings, appearing in the Proceedings of the National Academy of Sciences, are an important step forward in understanding the functional architecture of the brain. Functional architecture refers to the metaphorical structures formed by brain processes and interactions among different brain regions. The "foundation" highlighted in the new study is a low-frequency signal created by neuronal activity throughout the brain. This signal doesn't switch off even in dreamless sleep, possibly to help maintain basic structure and facilitate offline housekeeping activities. "A different, more labile and higher-frequency signal known as the gamma frequency activity has been the focus of much brain research in recent years," says study author Biyu He. "But we found that signal loses its large-scale structure in deep sleep, while the low-frequency signal does not, suggesting that the low-frequency signal may be more fundamental." "What we've been finding is reorienting the way we think about how the brain works," adds co-researcher Marcus Raichle. "We're starting to see the brain as being in the prediction business, with ongoing, organised carrier frequencies within the systems of the brain that keep them prepared for the work they need to do to perform mental tasks." Neurologists have spent many years exploring the upper levels of the brain's functional architecture. In these studies, researchers typically ask volunteers to perform specific mental tasks as their brains are scanned using fMRI. >>>>>




FOREX RATES

Heath Ledger's family 'proud and excited' by Oscar nod
Perth: Heath Ledger's family said on Friday they were "proud and excited" by his posthumous Academy Award nomination. Ledger died last year from an accidental overdose of prescription drugs. He has been nominated for best supporting actor for playing Joker in the movie The Dark Knight. "To us...it seems like merely yesterday and we are all still nursing broken hearts," Kate Ledger, the actor's sister, said on Friday. The family then held a memorial lunch at a restaurant overlooking the Cottesloe beach near Ledger's hometown of Perth, Australia. "Although we would love to have him here with us, we are so proud and so excited on his behalf," said Ashleigh Bell, Heath's other sister. "In Heath's words, he had the time of his life portraying The Joker and said that it was the most fun he'd ever had working on a film," Bell said.

How to...… spot serious medical symptoms?
Like red-light warnings on the dashboard, the human body sends out a flare when something's awry. Chest pain, shortness of breath, dizziness - those are some familiar medical symptoms. But other problems can creep up on you, too - aches and pains, lumps and bumps.  >>>>>

No distributors for Heath Ledger's final flick
Melbourne: Although late Hollywood actor Heath Ledger recently won an Oscar for his portrayal of 'The Joker' in 'The Dark Knight', his final flick 'The Imaginarium of Doctor Parnassus' has not been able to find any distributors.
It seems that the publicity surrounding Heath's Oscar win has no affect on the distributors, as 'The Imaginarium Of Doctor Parnassus' if facing difficulty finding American distributors. 
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Development economics: changing perspectives
There has been a remarkable transformation in development economies during the past five decades. The accent has shifted from accelerated growth in output and consequent increase in Gross National Product (GNP) per capita to reduction in poverty, generation of employment, 
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Prevention to lung cancer
Smokers and former smokers who eat lots of broccoli and other cruciferous vegetables may be less likely than other smokers to develop lung cancer. Researchers at Roswell Park Cancer Institute in Buffalo, N.Y. reported that news recently in Washington,  >>>>>

Improving water productivity in the agricultural sector
Pakistan's economy heavily depends on the output of the agricultural sector which constitutes 20-25 per cent of GDP. Apart from providing input to a large portion of manufacturing sector, it provides direct employment to more than 40 per cent of the labour force. The agriculture sector in Pakistan is plagued with a number of issues which includes flat yields, low water productivity. And underinvestment in rural infrastructure and research and technology. Despite all its challenges, the sector has been providing sustenance to country's economy so far. Today, arguably the single largest threat to the agricultural sector of Pakistan is shortage of irrigation water.  >>>>>

UK business community urged to invest in Pakistan
LONDON: The UK business community has been urged to invest in various promising projects in Pakistan offering high margin profitability and returns. Speaking at a dinner hosted by UK-Pakistan Chamber of Commerce and Industry in Southall, west London, on Friday,  >>>>>

Five Dewan Group companies announce losses
KARACHI: The thread-to-car conglomerate Dewan Group seems to be in dire financial straits as five of its companies on Monday posted losses for six months to December 2008. Falling demand for the group’s premium products like cars and cement amid dismal economic situation of last year have battered its overall profitability and future outlook, analysts said. “Dewan has taken a lot of loans from banks. It ishighly-leveraged and balance-sheet is very weak,” said Khurram Shahzad, analyst at Invest Cap Securities.  >>>>>

Plan to enhance Pak-Indonesia trade
KARACHI: Business leaders of Pakistan and Indonesia have agreed to evolve a strategy to enhance bilateral trade and augment exports from Pakistan to bridge the trade gap between the two countries. This was resolved during a meeting between a Pakistani business group,  >>>>>

Pak Suzuki has 63% market share
KARACHI: A Pakistani local car manufacturer, Pak Suzuki Motor Company, has once again showed great performance in the automobile sector and has maintained the sales record of the past. It has maintained 63 percent market share of the industry. This has been informed in a recent convention that Pak Suzuki is not only the top manufacturer of car industry but also tops the list in sales of the car industry.

Dullness continues on cotton market under uncertain conditions
Bearish sentiment was again witnessed on the cotton market on Tuesday as leading participants were not interested in the purchasing due to uncertainties on both the economic and political fronts, dealers said. 
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KCA spot rate reduced by Rs 100 to Rs 3250, lint prices fluctuate between Rs 3000-3400
The cotton market has turned slow - buying cautious, prices low - and time when buyers are looking for better and cheaper cotton to order for imports. Local spot rate moved at slow pace, which was in early days at Rs 3350 but in the later part of the week it fell rapidly, twice by Rs25 and filly by Rs50 to Rs3300.  >>>>>

APPMA team visits KCCI
KARACHI: A delegation of All Pakistan Paper Merchants Association (APPMA) headed by its Chairman, Muhammad Akram Malik visited Karachi Chamber of Commerce and Industry (KCCI) and had a meeting with Anjum Nisar, President KCCI.
The delegation felicitated Anjum Nisar on taking over the responsibility of President KCCI. Chamber's Chief warmly welcomed the delegation.
They expressed their apprehension on the current economic crisis particularly energy crisis, power tariff hike, rate of interest, high cost of doing business and customs related valuation issues.
The Association's representative requested Chamber's Chief to raise the issue of their Association at various forums. Anjum Nisar, the KCCI's Chief in his views assured the delegation that KCCI would always support their suggestions.

KCCI keen to strengthen trade ties with China
KARACHI: Karachi Chamber of Commerce and Industry (KCCI), is focusing on the great potential of trade with China from heavy machinery to consumer goods and from locomotives to auto parts.
Vice chairman KCCI, Mohammad Ali said this on Tuesday while welcoming Dr Mark Shujun Ma, vice chairman Association for the Overseas Development and Investment Dalian-China, vice chairman Dalian Chamber of Commerce, chairman China Industrial Minerals and Metal Group on his visit to chamber.
He urged the need to encourage the students exchange programmes of both countries to elevate higher education for engineering and technology besides to strengthen corporate relationship of Pak-China business community.

Makhdoom Amin Fahim Plans To Visit KCCI Monday
Federal Minister for Commerce, Makhdoom Amin Fahim, will visit Karachi Chamber of Commerce and Industry on Monday. The meeting will start at 1100 hours, said a KCCI press release.
Meanwhile, Fouzia Wahab, MNA and Chairperson, Standing Committee on Finance and Revenue, National Assembly, will visit KCCI.

Ibad urges businessmen to cooperate with govt
KARACHI: Governor Sindh, Dr Ishratul Ibad Khan has urged the business community to cooperate with government to overcome the problems being faced by weakening economy.
"The country is facing economy crisis besides major problems of water, power and gas shortages," he said at a luncheon meeting hosted by the Karachi Chamber of Commerce and Industry (KCCI) Monday. He also declared government's intention to help revive economic development.
Governor said as the country facing different challenges, it was time to be united and to work together for the country.
"I being the representative of government will take all matters to the federal government and will try to get them resolve," he claimed.
He said, "Present government wants to resolve all problems but will take some time to be resolved".
Provincial minister for commerce and industry, Abdul Rauf Siddiqui said overseas Pakistanis could prove to be a big source of investment in various sectors of economy in their home country if proper guarantees were given to them. He urged the local people to invest in the industrial zones of the Sindh to attract the foreigner investors.
KCCI president, Anjum Nisar said Karachi had to face billions of rupees losses amid the riots occurred during last months. About 4,000 industrial units are working in the SITE industrial area similarly 2,500 in Korangi and 1,000 in Landhi industrial areas and if Karachi shuts down just for a one day, it losses billions of rupee.
Rehman Malik, advisor to Prime Minister on interior was requested to give 100 police mobiles for security purpose, he assured us but did not respond," he said.
He said industries were running on just 2-5 percent interest rate but all banks have increased their spreads and industry's mark-up has gone to 20-22 percent. Weakening dollar, huge taxes, and unabated increase in power and gas tariffs are main factors that increased the cost of doing business in the country, he said. He said industrial zones without water, power, gas, sewerages, infrastructure, roads and fire brigade etc should be provided with latest facilities.

Mr. Mohammad Amin Khatri
Mr. Sultan Ahmed Chawla, President Federation of Pakistan Chamber of Commerce & Industry has nominated Mr. Mohammad Amin Khatri as a Chairman of FPCCI Standing Committee on Fairs & Exhibitions & Trade Delegations. Mr. Mohammad Amin Khatri is a prominent businessmen and leading Industrialist of Pakistan carrying a wide experience in the field of Fairs & Exhibition.  >>>>>

STRATEGY EVOLVED TO ENHANCE PAK-INDONESIA TRADE
Business leaders of
Pakistan and Indonesia have agreed to evolve a strategy to enhance bilateral trade and to augment exports from Pakistan to bridge trade gap between two countries. This was resolved during a meeting of Pakistan business group led by Mr. Tariq Sayeed and Mr. Iftikhar Ali Malik,  >>>>>

Pakistan business group attended 5th WIEF
KARACHI: A group of leading businessmen from Pakistan participated in the fifth World Islamic Economic Forum (WIEF) was held on March 2-3, 2009 at Jakarta, Indonesia. Former president Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and member  >>>>>

A delegation visits to FPCCI
A 6 member delegation of U. S. Mission led by Mr. Gerald Feierstein, Deputy Chief visited Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on a courtesy call and met its President, Mr. Sultan Ahmed Chawla and Vice Presidents.  >>>>>

FPCCI expresse concern over the monetary policy statement
Mr. Sultan Ahmad Chawla, the President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed his serious concern over monetary policy statement of the Governor State Bank of Pakistan. He indicated that economists are agreed on the  >>>>>

FPCCI terms 2008-09 federal budget as balanced, pro business, growth oriented
Federation of Pakistan Chambers of Commerce and Industry,(FPCCI) an apex body of chambers and traders in the country Wednesday unanimously termed the 2008-09 federal budget as balanced, pro business, growth oriented and pro poor people.
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Threw thick & think
A new tsunami is heading toward our shores and is threatening our economic and political foundations. Our socio-economic structure, which is not tougher then a sand castle is struggling to survive a massive earth quake. Due to this ordeal, our geo-political situation could be undermined by anyone and for that very reason; prospects of our future existence are now being discussed by all our partners and long-standing stakeholders. Such distrust from interim players is a bit tolerable, 
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Trade protectionism no spur for world economic recovery
BEIJING: The "Buy American" provisions in the 787-billion-U.S. dollar economic stimulus bill that U.S. President Barack Obama signed into law Tuesday, will deal a hard blow to world endeavors in saving the economy.
According to the legislation, the "Buy American" provision prohibits the purchase of foreign iron, steel and manufactured goods for any stimulus-funded 
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Improving water productivity in the agricultural sector
Pakistan's economy heavily depends on the output of the agricultural sector which constitutes 20-25 per cent of GDP. Apart from providing input to a large portion of manufacturing sector, it provides direct employment to more than 40 per cent of the labour force. The agriculture sector in Pakistan is plagued with a number of issues which includes flat yields, low water productivity. And underinvestment in rural infrastructure and research and technology. Despite all its challenges, the sector has been providing sustenance to country's economy so far.
Today, arguably the single largest threat to the agricultural sector of Pakistan is shortage of irrigation water. Pakistan is already a water stressed country with large scale degradation of resource base groundwater is now being overexploited in many areas and dependence on ground water is increasing every year. Climate change and political fallout of building large reservoirs provide no solace to the scenario. 
>>>>>

Pakistan Economy An Overview
Overview: Contrary to earlier fears, Pakistan's economy performed reasonably well in FY02. In particular, the tremendous improvement in Pakistan's external sector post-September 2001, either directly or indirectly, contributed to positive developments for many macroeconomic indicators during the year. The trade deficit turned out to be much lower than in FY01 as exports recovered in the second half of FY02 to reach the preceding year's level,  >>>>>

Combating economy
If Pakistan would have withstood the effects of the global economic slowdown, that would have been a major surprise in this day and age. At a time of troublesome economic data emerging across the world, the fallout from an economic slowdown across Pakistan is becoming increasingly obvious. In the past year, ugly scenes of riots in some of Pakistan's big cities over electricity shortages, have left behind endless problems. A slowdown in industrial output, partially due to electricity shortages, has spurred job losses.  >>>>>

Medium-term Prospects
A significant upturn in economic performance began in the final months of the FY02, and was manifested by higher exports, accelerated workers' remittances, improved water availability, and increased capacity utilization in some key industries. This upsurge has altered the prospects for FY03. In particular, the recovery by textiles on the back of increased access to key markets January 2002 onwards, seems likely to continue into FY03, aided by sharply lower cost of funds (the favorable perceptions on the sector are reflected in the continuing high imports of textile machinery).  >>>>>

Dubai seals $10bn UAE bond deal
Dubai's finance department has sold $10bn (£6.9bn) in bonds to the United Arab Emirates (UAE), to ease the emirate's liquidity problems. Leading Dubai shares surged 8% on Monday on optimism over the UAE's willingness to provide support. 
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China 'faces most difficult year'
Addressing parliament, Mr Wen reiterated that there would be a $585bn (£413bn) investment programme to stimulate the Chinese economy. He also declared an annual growth target of 8% and goals to boost consumption and raise consumer demand. 
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Malaysia in $2.7bn economy boost
The Malaysian government has unveiled plans to spend another 10bn ringgit ($2.7bn; £3.3bn) in a further attempt to revive the nation's economy.
The move takes total stimulus spending to 17bn ringgit. But some analysts say it will not prevent Malaysia sliding into its first recession since 1998.
Malaysia's economy - which is heavily dependent on manufacturing - grew by 0.1% in the last three months of 2008.
This took annual growth to 4.6% - below official targets.
The second stimulus plan has been tabled in parliament, though full details will not be released until next week.
A recent study by AmSearch estimated that at least 40bn ringgit needed to be spent by the government to prevent the economy contracting in 2009.

Asian shares slide as fears grow
In Japan, the benchmark Nikkei index dropped 3.5%, with markets in Australia and South Korea also lower. 
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WPP revises down 2009 forecasts
WPP, the world's second-biggest advertising group, has announced a 3.8% rise in profits but has revised down its forecasts for 2009.
WPP reported pre-tax profits of £747m for 2008, compared with £719m for 2007.
The group said that despite major events such as the Olympics and the US presidential election, client spending had only risen about 2-3% in the year.
With no similar events in 2009 and the current recession, it now expects like-for-like revenues to fall 2% this year.
It had previously forecast a flat year.

East Europe banks back economies
The central banks of the Czech Republic, Bulgaria, Poland, Romania and Slovakia have issued a joint statement defending their economies. They said that recent warnings about their economies were "misleading". Eastern European countries have come under scrutiny in recent 
>>>>>

Oil price up over petrol demand
Oil prices have risen nearly 9% after the US government reported an unexpected drop in crude stocks and an increase in demand for petrol. Prices were also supported by a rise in China's manufacturing index. China is the second biggest oil consumer. 
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