October 16, 2017
By Steve Johnson

Credit growth in non-Chinese emerging markets is accelerating for the first time since 2011, buoying expectations of stronger economic growth. Credit is growing at an annual rate of 8.7 per cent, based on a gross domestic product-weighted average of 19 emerging countries, bar China, according to data compiled by NN Investment Partners, a Dutch asset manager. This follows a six-year-long slump from 2011 to February this year, when the rate of year-on-year credit growth slid to just 6.7 per cent. This was the weakest reading since 2003 bar the two worst months of the global financial crisis in 2009 and far below the post-crisis peak of...


By Chris Giles

Such is the disarray within the cabinet over the Brexit negotiations that the prime minister and chancellor are now fighting over whether to make a futile gesture. Theresa May, egged on by hard Brexiters, wants to spend public money preparing for a “no deal” scenario. She appears, rather like the character from the old BBC satire Beyond The Fringe, to think that it will raise the whole tone of the war with Brussels. Philip Hammond warns it would be wrong to spend money now “just to make some demonstration point”. The chancellor is correct. While Brexiters are right to say that Britain needs a credible...


By Zeeshan Haider

FOCUS Our economy undoubtedly faces big challenges. In recent days, it seems to be facing the biggest challenge and that is public sparring by our leaders on the state of country’s economy. The army chief General Qamar Bajwa, speaking at a seminar on “Interplay of Economy and Security,” in Karachi last week, have had a very candid discourse on the economic situation of the country stating that the economy is showing mixed signs. General Bajwa counted healthy growth rate, infrastructure development and lessening energy woes as some of the positive signs of the economy and at the same time highlighted very high current...


By Richard Branson

Column Q: Two of my friends and I are exploring an exciting business opportunity. I’ve done some research and I know that while there are a number of companies already working in the space, they haven’t figured out how to scale their businesses, which leaves an opening for us. Unfortunately, when I present my partners with ideas about how we can beat the competition, one of them is always quick to point out that the founders and employees of these companies have fancy degrees from the world’s best business schools and that “they would probably crush us.” Comments like these infuriate me — they just...


By Shahzada Irfan Ahmed

trade As the world is moving towards reduced import duties and removal of unjustified nontariff barriers, there are regimes acting otherwise and adding to the cost of doing business due to their policies. This is the apprehension of the business community of Punjab with respect to the cess the government of Punjab has imposed on the goods imported and cleared in the province. Imposed under the pretext of generating resources to take care of the province's infrastructure, this cess is being criticised by the business community for being oppressive and discriminatory.  Two years back, Punjab Infrastructural Development Cess (PIDC) was...


By Mansoor Ahmad

FOOD Government should remove small irritants faced by the businessmen before they grow to an unmanageable level. In the food sector, the federal government should intervene to resolve the issues of quality standards between Punjab Food Authority (PFA) and Pakistan Standard Quality Control Authority (PSQCA). There is no denying the fact that the PFA has made commendable efforts to ensure better quality of food products. It has in fact broken the myth that only domestic food processors are marketing substandard foods. It in fact apprehended numerous international food chains and fined them. Foreign principals of these chains in fact...


By Sirajuddin Aziz

MANAGEMENT Most entities, be it in the government sector or the private, usually have a formal document on whistle blowing. The central idea of whistle blowing is to keep check on individuals, who may indulge to operate beyond the confines of acceptable behaviour. Its presence, a policy to pursue, is part of good governance and best practices. The motive is to bring to notice the quarters that must know if there are incidents activities or moves that may involve financial corruption, moral turpitude or acts that are likely to slowly gnaw at the edifice of the organisations reputation and credibility. The definition, in a strict sense of,...


By Martin Wolf

What might be the economic consequences of Jeremy Corbyn? His ascent to power looks quite plausible. We must start to consider the implications. The leader of the UK Labour party has already had a disastrous economic impact, by making the Brexit referendum result far more likely. He cannot just say, as he did in his speech to the party conference last week, that, “As democratic socialists, we accept and respect the referendum result”, as if he had nothing to do with it. The Labour party disappeared during the referendum campaign, with calamitous results for the young people who flock to his side. Even now it is impossible to...


By Alan Beattie

So much for Britain's special relationship with Donald Trump, those sceptical of Brexit are saying. Theresa May goes over to Washington and literally holds the president's hand. In return, the US first endangers jobs in Northern Ireland by slapping punitive tariffs on the aircraft that factories in Belfast help make and then threatens British farmers by leading a vigilante posse of agricultural exporters eager to access UK markets in beef, sugar, lamb and more. The reality is even worse than cynics would have it. Even were Hillary Clinton president, the US would be doing very similar. Some of Mr Trump's antics, such as forcibly...