Pakistan eligible for MSCI Frontier Markets 100 Index
Pakistan eligible for MSCI Frontier Markets 100 Index/node/2022666/pakistan
Pakistan eligible for MSCI Frontier Markets 100 Index
Stockbrokers watch an index board showing the latest share prices during a trading session at the Pakistan Stock Exchange (PSX) in Karachi, Pakistan, on September 20, 2021. (AFP/ File)
ISLAMABAD: Index provider Morgan Stanley Capital International (MSCI) said on Thursday Pakistan would be eligible for its Frontier Markets 100 Index and the Frontier Markets 15 percent Country Capped Index in May as part of its semi-annual review.
MSCI included the MSCI Pakistan Index in the MSCI Frontier Markets Index in one step coinciding with the November 2021 semi-annual classification.
“Following feedback received from market participants, Pakistan will become eligible for inclusion in the MSCI Frontier Markets 100 and the MSCI Frontier Markets 15% Country Capped Indexes as part of the May 2022 Semi-Annual Index Review (SAIR),” MSCI said in an announcement.
In 2017, MSCI announced changes to its indexes as a result of its semiannual market reclassification, including reclassifying Pakistan as an emerging market from frontier market status and the addition of 57 securities and removal of 28 securities from its All-Country World Index.
Last year, however, Pakistan was downgraded from its status as an emerging market, with MSCI saying while the Pakistani equity market met the requirements for market accessibility under the classification framework for Emerging Markets, it no longer met the standards for size and liquidity.
Spencer Johnson takes five as Australia beat Pakistan to clinch T20 series
Pakistan fell short by 13 runs despite Haris Rauf’s impressive 4-22, which restricted the hosts to 147-9
Australia, having won the rain-hit opener in Brisbane, will host the final game in Hobart on Monday
Updated 38 min 38 sec ago
AFP
SYDNEY: Speedster Spencer Johnson took 5-26 to propel Australia to a tense 13-run victory over Pakistan in Sydney on Saturday and seal their three-match T20 series with a game to go.
Set just 148 to win after Haris Rauf claimed 4-22 to keep the hosts in check, Pakistan were all out for 134 in the final over despite a lively 52 from Usman Khan.
Pakistan’s Usman Khan bats during the second T20 international cricket match against Australia in Sydney, Australia, on November 16, 2024. (AP)
Australia won a rain-hit first match in Brisbane by 29 runs with the final game at Hobart on Monday.
“We thought we were there or thereabouts and I thought the way the bowlers went about it was brilliant,” said Australian captain Josh Inglis.
“There’s so many options in this team I can go to. Every time I turned to Johnson tonight, he got a wicket. The way they played tonight was really good.”
Australia’s Marcus Stoinis shakes hands with Pakistan’s Haris Rauf after Australia won the T20 international cricket match against Pakistan in Sydney, on November 16, 2024. (AP)
Australia secured a vital breakthrough by removing Babar Azam (3) off Xavier Bartlett in the second over and Pakistan’s woes deepened when Johnson accounted for Sahibzada Farhan (5).
Runs were hard to come by and after facing 26 balls for 16, skipper Mohammad Rizwan knew he had to up the tempo.
But it cost him with Tim David taking a fine diving catch in the deep off Johnson, who then bagged Salman Agha next ball, caught behind by Inglis to leave Pakistan on 44-4 after 10 overs.
Khan played himself in and brought up his first T20 half-century.
Pakistan’s captain Mohammad Rizwan leaves the field after losing his wicket during the T20 international cricket match against Australia in Sydney, on November 16, 2024. (AP)
But Johnson struck again with Abbas Afridi (4) following soon after to earn the 28-year-old a maiden five-wicket haul in his seventh T20.
Two wickets in an over by spin king Adam Zampa piled the pressure on Pakistan who were unable to rise to the challenge.
Earlier, Australia was restricted to 147-9 after a rip-roaring start, but a slew of dropped catches cost Pakistan.
“If you take the positives, the boys bowled very well. We know Australia is not an easy team,” said Rizwan.
“But if you drop crucial catches, it will cost you the game.
“We all know the pitch wasn’t easy to bat,” he added.
Jake Fraser-McGurk and Matthew Short stitched together a highly entertaining 52-run opening stand off just 22 balls before Rauf struck twice in three deliveries.
Pakistan’s Sufiyan Muqeem (left) is congratulated by teammate Salman Ali Agha after taking the wicket of Australia’s Marcus Stoinis during the T20 international cricket match between Australia and Pakistan in Sydney, on November 16, 2024. (AP)
After tempting Fraser-McGurk (20) into another slog that was taken in the deep by Agha, he enticed a leading edge from Inglis (0).
Pakistan had their tails up and Short quickly followed for 32, bowled by Afridi, with three wickets falling for four runs.
Marcus Stoinis survived two dropped catches but finally fell on 14, reverse-sweeping to Sufiyan Muqeem, who was brought into side for Haseebullah Khan.
Australia’s Jake Fraser-McGurk bats during the T20 international cricket match between Australia and Pakistan in Sydney, on November 16, 2024. (AP)
Muqeem’s wrist-spin then took care of dangerman Glenn Maxwell (21) as the runs dried up.
David was removed by Rauf for 18 and he collected his fourth by bowling Bartlett (5).
Aaron Hardie made a handy 28 before Afridi removed him and Johnson in successive balls in the final over.
QUETTA: At least seven soldiers of Pakistan’s paramilitary Frontier Corps (FC) were killed in an overnight attack on a security check-post in the mountainous region of Kalat district in the restive southwestern province of Balochistan, according to a local administration official on Saturday.
The province has been the site of a low-level insurgency by separatist militants for over two decades, although militant attacks have intensified significantly in recent months.
Last August, Baloch separatists launched a string of coordinated attacks targeting civilians and military forces, resulting in more than 50 deaths within a few hours. The latest attack on Pakistani security forces follows a deadly suicide bombing last week at the crowded Quetta railway station, which killed over two dozen people, including army personnel and wounded more than 50 others.
“Armed militants attacked a Frontier Corps check-post in Shah Mardan, an area located 60 kilometers from Kalat city at midnight,” Kalat’s Deputy Commissioner Bilal Shabir told Arab News over the phone.
“Seven soldiers of the paramilitary force were killed in the attack and 12 injured,” he continued, sharing the details of the armed assault. “Subsequently, a security clearance operation was carried out in the mountainous area.”
Asked how many attackers were killed in the skirmish, the deputy commissioner said authorities had not received information on that.
In a statement issued on Saturday, the banned separatist group Balochistan Liberation Army (BLA) claimed responsibility for the attack, saying its fighters had targeted the paramilitary post in Kalat.
The BLA, the largest of several Baloch ethnic insurgent groups, seeks independence for the volatile province, which is home to approximately 15 million people and borders Afghanistan to the north and Iran to the west.
The BLA and other Baloch nationalist groups accuse the Pakistani state of unfairly exploiting the province’s rich gas and mineral resources— an allegation denied by successive governments, which claim to have been undertaking development projects to improve residents’ quality of life.
Prime Minister Shehbaz Sharif condemned the attack on FC personnel, calling the attackers enemies of the province’s economic development.
The prime minister also ordered quality medical treatment for those injured in the attack in Kalat, a remote district located about 140 kilometers from Quetta.
ISLAMABAD: Pakistan has offered New York-based businesses investment incentives to expand their footprint in South and Central Asia, citing its strategic location as a key advantage, state-run media reported on Saturday.
Seeking to position itself as a pivotal trade and transit hub, Pakistan has sought to involve other countries in its economic plans, particularly within its own neighborhood where it has offered landlocked Central Asian states access to its ports to facilitate their connection to global markets.
US-Pakistan trade relations have long been significant, with the US serving as Pakistan’s largest export market for textiles, apparel and leather goods.
Pakistan’s Ambassador to the US, Rizwan Saeed Sheikh, met with Mark Jaffe, Head of the Greater New York Chamber of Commerce, to discuss strategies for enhancing bilateral trade between the two nations.
“The Pakistani envoy underscored Pakistan’s liberal investment regime, strategic geographic location, and incentives for foreign investors, emphasizing the benefits for New York businesses seeking to expand their footprint in South and Central Asia,” the Associated Press of Pakistan (APP) news agency reported.
Jaffe expressed interest in Pakistan’s textile, leather, surgical and information technology sectors apart from outlining efforts to promote trade and investment, it added.
Ambassador Sheikh appreciated Jaffe’s support and interest in Pakistan’s 5th International Textile and Leather Exhibition 2024 held last month in the country’s southern metropolis of Karachi, APP said.
He also invited the New York City chamber to participate in the 4th Engineering and Healthcare show in Lahore next year.
The Pakistani envoy highlighted how Pakistan’s Generalized System of Preferences Plus (GSP+) status in the European Union and Free Trade Agreement with China could provide added advantages for foreign investors working in his country.
The meeting took place at a time when Islamabad is seeking to bolster trade and investment relations with allies to stabilize its fragile $350 billion economy as it faces an acute balance of payment crisis amid soaring inflation and surging external debt.
KARACHI: Companies, organizers, hosts, sponsors and any other entities in Pakistan that employ Chinese nationals are being asked to hire the services of former military personnel for security purposes, Sindh Police said this week amid increasing attacks on Chinese citizens in the country.
A string of recent attacks on Chinese nationals in Pakistan have caused Beijing to worry about the security of its citizens. Separatist militants in Pakistan’s southwestern Balochistan province have carried out attacks against Chinese interests this year, blaming Islamabad and Beijing for exploiting the gas-and-oil-rich province. Both deny the allegations.
Last month, a suicide blast near the airport in Pakistan’s southern port city of Karachi killed two Chinese engineers while a security guard shot and injured two Chinese nationals in Karachi this month.
Sindh Inspector General of Police Ghulam Nabi Memon held a meeting at the Central Police Office in Karachi on Thursday to review the security of Chinese nationals in the province.
“DIG Special Protection Unit, while briefing the committee formed to review security measures of Chinese citizens, said the Internal Bureau and Special Branch are conducting a security audit of the private security guards assigned to protect Chinese citizens,” a statement from the police said on Friday evening.
“While project organizers, hosts/sponsors are also being made to hire the services of ex-military servicemen.”
The statement said that the SPU would conduct joint training exercises continuously to meet any emergency security situation.
“A hotline number has been provided for the facilitation of Chinese citizens and for immediate contact with law enforcement agencies,” it said.
“He further said that suggestions have also been given to project owners/sponsors to strictly implement security standard operating procedures, including a security audit of private security companies.”
China is a major ally and investor in Pakistan that has pledged over $65 billion in investment in road, infrastructure and development projects under the China-Pakistan Economic Corridor (CPEC) project, at the heart of which lies the Gwadar port in Balochistan.
Pakistan says attacks targeting Chinese nationals are aimed at disrupting its relations with China and destabilizing CPEC.
ISLAMABAD: The Punjab government has conducted a successful artificial rain trial using local technology to reduce smog, state-run media reported on Saturday, as the province grapples with deteriorating air quality and takes measures to protect millions from pollution.
State broadcaster Radio Pakistan said the provincial government carried out “cloud seeding” in the eastern cities of Jhelum, Chakwal, Talagang and Gujar Khan on Friday, which resulted in rainfall in Jhelum and Gujar Khan within a few hours.
Cloud seeding is a weather modification technique that improves a cloud’s ability to produce rain or snow by introducing tiny ice nuclei into certain types of subfreezing clouds.
In December last year, a cloud seeding experiment was carried out by the United Arab Emirates to bring about artificial rain in Lahore. The UAE sent two special planes and a technical team, which waited in Lahore for several days for the right conditions before carrying out its mission.
“Punjab Chief Minister Maryam Nawaz Sharif congratulated all scientific experts and associated institutions on the success of this artificial rain experiment,” Radio Pakistan said.
It said the experiment was conducted due to the combined efforts of the Punjab government, Pakistan Army’s Scientific Research and Development experts, Army Aviation, PARCO and the Environmental Protection Agency.
“This success will open new avenues for technological advancement in Pakistan and help alleviate weather-related issues for the public,” it said.
The development takes place as Punjab extended school closures in smog-hit major cities from Nov. 17 by a week, with thousands hospitalized as the country battles record air pollution.
Toxic smog has enveloped Punjab’s cities, especially its cultural capital of Lahore, since last month. Smog occurs when cold air traps dust, low-grade diesel fumes and smoke from illegal stubble burning on fields.
As the air quality deteriorates, the provincial government has taken certain measures such as closing schools, banning the entry of heavy transport vehicles in Lahore on specific days and banning entry to parks, zoos, playgrounds and other public spaces.
Other parts of South Asia are also dealing with high levels of pollution and Punjab blames neighboring India for contributing to its hazardous air quality.
New Delhi, the world’s most polluted capital, has banned non-essential construction, moved children to virtual classrooms and asked residents to avoid using coal and wood from Friday.
