A new study from the Brookfield Institute finds that 42% of Canadian jobs are vulnerable to being automated, with dire implications for workforces
Germany announced a financial package of €109 million for Pakistan in order to develop economic ties between the two countries.
The Declaration of Intent, which was signed following a meeting between Finance Minister Ishaq Dar and German Federal Minister for Economic Cooperation and Development Dr Gerd Muller on Thursday, promises €109 million to Pakistan in the next two years.
“Muller proffered the prospect of new funding for bilateral technical and financial cooperation,” said an official handout issued by the German Embassy in Islamabad.“The bilateral economic cooperation could reach a significant level of up to €109 million for the two-year period of 2017-2018.”
If 2008 was the year of the financial crash, 2016 was the year of the political crash. In that year we witnessed the collapse of the last of the four major economic-political ideologies that dominated the 20th century: nationalism; Keynesian Pragmatism; socialism; and neoliberalism. In the 1970s and 80s the centre right in many countries abandoned Keynesianism and adopted neoliberalism. In the 1980s and 90s the centre left followed, largely abandoning democratic socialism and adopting a softer version of neoliberalism.
Read more » Evonomics: The Next Evolution of Economics
See more >> http://evonomics.com/time-new-economic-thinking-based-best-science-available-not-ideology/
NEW DELHI: A deal of 75 billion dollars was made between UAE and India. Both the countries in New Delhi signed 14 MoUs over strategic partnership, trade and defense. Negotiations at delegation level took place between Narendra Modi and UAE representative Sheikh Muhammed bin Zaid-ul-Nahiyan. On the occasion both signed an agreement of 75 billion dollars on 14 MoUs.
Read more >> Pakistan Point News
See more >> http://www.pakistanpoint.com/en/world/news/uae-india-signs-a-75-billion-dollars-pact-93412.html
LAHORE: In an unprecedented development to boost the economy, Pakistan is set to build the country’s first ever Naphtha Cracker Complex (NCC), a state-of-the-art “grand infrastructure” to change petrochemical raw substances into value-added products ranging from construction, home décor, appliances, furniture, medical care, paints, cleaning stuff and top of the line military gadgets.
By Iqbal Latif
Marx was the best thinker but he thought that the world will not move forward and has frozen that will continue with extreme suppression of labour. Marx & Engels in the Communist Manifesto in 1848 said ‘the proletarians have nothing to lose but their chains. They have a world to win. Working Men of All Countries, Unite! ‘
Marx could not believe that workers in a century plus will become partners in firms like MSFT INTEL Google and FB and 🍎!
Marx could not imagine mental cerebral capacity of man will create a trillions of $ worth universally 24/7 connected economy that will be managed not by 18 hours a work day dungeons labour force but intelligent servers.
Marx never thought that Apple and like of those will make huge extraordinary complexes to get the best out of workers not wretched conditions.
Marx thought that entrepreneur will extract the last drop out of the workers body. He could not imagine a capitalist state agreeing on 36 hours work week!
Marx had no idea of an economy based on service! ‘Employees Holidays’ are a huge industry, that he never thought or could imagine. An employee or a worker today enjoys the same holidays as his boss in a fair capitalist society.
Marx never thought that accumulated wealth by largest billionaires will be transferred freely without a war to the next generation of mankind not to their children. Gates Buffet Zuckerberg phenomenon. This was not envisaged in his Das Kalital!
There was no concept in Das Kapital of a capitalist state taking care of the basic education health and shelter of every child from cradle to the grave!
Marx thought that the grain of ‘Historical Exploitation of man’ is genetically homed in and if will continue. That actually did not happen, the world thinking changed 180 degree.
The only place where such exploitation continues are the Marxist countries like North Korea and Cuba! Freedom of action is curtailed. Deng freed the Chinese nation from exploitation of the state in the name of Great Leap Forward.
I think forget about complicated jargon what destroyed Marxism was benevolence of the state ‘ the kind of state education system, the NHS and the housing policies of capitalist states plus a punitive taxation structure where multiplication of unbridled wealth is checked and not allowed to be transferred without hefty cuts.
It was Deng who destroyed Marxism more than anyone else next was Yeltsin!! These issues highlighted above cannot be answered by Das Kapital – it is like the Genesis that went time barred with emergence of Hubble and LHC Couldron. There was no room left for 6/6000 days creation by a super creator.
Courtesy: Above article adopted from Social media.
Via – Facebook
Corruption in Pakistan is widespread, particularly in the government and lower levels of police forces. In 2014, Pakistan scored 126 out of 174 on theCorruption Perceptions Index published by the Transparency International,improving slightly from its previous score of 127 out of 175 in 2013. Pakistan saw a significant improvement in its statistics in 2013 when its ranking improved by 12 indices compared to its previous rankings – 139 out of 174 in 2012,134 out of 182 in 2011, 143 out of 178 in 2010, and 139 out of 180 in 2009.
Corruption has plagued Pakistan from the very moment it came into existence. It was the unrepentant display of plutocracy amongst its powerfulbureaucracy and the West Pakistani Punjabi Muslim landowners that partly led to the secession of East Pakistan into the nation-state of Bangladesh. Later,nationalisation policies prepared under the government of prime minister Zulfikar Ali Bhutto paved the way for the corrupt elites to politicise the nation’s economic planning resulting in a public outcry against corruption. This led the military dictator Muhammad Zia-ul-Haq to draft policies regarding denationalisation of institutions which only ended up benefiting a few rich business magnates such as the future prime minister, Nawaz Sharif, who was also a protégé of the military dictator.
Read more » Wikipedia
See more » https://en.wikipedia.org/wiki/Corruption_in_Pakistan
Switzerland will hold a vote on whether to introduce a basic income for all adults, in a further sign of growing public activism over pay inequality since the financial crisis.
A grassroots committee is calling for all adults in Switzerland to receive an unconditional income of 2,500 Swiss francs ($2,800) per month from the state, with the aim of providing a financial safety net for the population.
Organizers submitted more than the 100,000 signatures needed to call a referendum on Friday and tipped a truckload of 8 million five-rappen coins outside the parliament building in Berne, one for each person living in Switzerland.
Read more » Switzerland
See more » http://www.reuters.com/article/us-swiss-pay-idUSBRE9930O620131004
We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before. We do not yet know just how it will unfold, but one thing is clear: the response to it must be integrated and comprehensive, involving all stakeholders of the global polity, from the public and private sectors to academia and civil society.
The First Industrial Revolution used water and steam power to mechanize production. The Second used electric power to create mass production. The Third used electronics and information technology to automate production. Now a Fourth Industrial Revolution is building on the Third, the digital revolution that has been occurring since the middle of the last century. It is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres.
There are three reasons why today’s transformations represent not merely a prolongation of the Third Industrial Revolution but rather the arrival of a Fourth and distinct one: velocity, scope, and systems impact. The speed of current breakthroughs has no historical precedent. When compared with previous industrial revolutions, the Fourth is evolving at an exponential rather than a linear pace. Moreover, it is disrupting almost every industry in every country. And the breadth and depth of these changes herald the transformation of entire systems of production, management, and governance.
The possibilities of billions of people connected by mobile devices, with unprecedented processing power, storage capacity, and access to knowledge, are unlimited. And these possibilities will be multiplied by emerging technology breakthroughs in fields such as artificial intelligence, robotics, the Internet of Things, autonomous vehicles, 3-D printing, nanotechnology, biotechnology, materials science, energy storage, and quantum computing.
Read more » World Economic Forum
See more » https://www.weforum.org/agenda/2016/01/the-fourth-industrial-revolution-what-it-means-and-how-to-respond
Farmers in Karnataka have adopted the digital platform in selling their produce. They go online, check out the quotes of the traders and seal the deal that suits them best and also receive the payments online. This facility has gained quite popularity now and other states like Andhra Pradesh has also come forward to adopt it.
Unified Marketing platform (UMP), a state government initiative launched in 2014 by the Rashtriya e-Market Services (ReMS), provide the farmers an opportunity to interact with the traders online. Thus, they can directly deal with the traders and have the right to reject if the quoted prices are not satisfactory for them.
This facility completely rules out the middlemen, who take away a big share from the farmers’ profit by buying their produce at minimum cost.
Through UMP, farmers now receive SMS alerts from their banks when transactions with traders have been confirmed.
Read more » THE LOGICAL INDIAN
See more » http://thelogicalindian.com/news/karnataka-14-lakh-farmers-are-selling-their-products-online-and-thus-no-middle-men/
“We want to live by each other’s happiness, not by each other’s misery.”
BY MARIA POPOVA
From the same remix artist who brought us yesterday’s Alan Watts meditation on the meaningful life comes “A Message for all of Humanity” — a stirring mashup of Charlie Chaplin’s famous speech from The Great Dictator and scenes of humanity’s most tragic and most hopeful moments in recent history, spanning everything from space exploration to the Occupy protests, with an appropriately epic score by Hans Zimmer.
Read more » BrainPickings
See more » https://www.brainpickings.org/2012/10/11/a-message-for-mankind-charlie-chaplin-great-dictator/
If India can successfully transform its human resources into productive workers, you can expect it to quickly replace China as the economy that both inspires fear and respect among American economy watchers.
Read more » Fortune
See more » http://fortune.com/2016/04/08/india-economy/?xid=for_fb_sh
WASHINGTON — Saudi Arabia has told the Obama administration and members of Congress that it will sell off hundreds of billions of dollars’ worth of American assets held by the kingdom if Congress passes a bill that would allow the Saudi government to be held responsible in American courts for any role in the Sept. 11, 2001, attacks.
The Obama administration has lobbied Congress to block the bill’s passage, according to administration officials and congressional aides from both parties, and the Saudi threats have been the subject of intense discussions in recent weeks between lawmakers and officials from the State Department and the Pentagon. The officials have warned senators of diplomatic and economic fallout from the legislation.
Adel al-Jubeir, the Saudi foreign minister, delivered the kingdom’s message personally last month during a trip to Washington, telling lawmakers that Saudi Arabia would be forced to sell up to $750 billion in treasury securities and other assets in the United States before they could be in danger of being frozen by American courts.
Several outside economists are skeptical that the Saudis will follow through, saying that such a sell-off would be difficult to execute and would end up crippling the kingdom’s economy. But the threat is another sign of the escalating tensions between Saudi Arabia and the United States.
Read more » The New York Times
See more » http://www.nytimes.com/2016/04/16/world/middleeast/saudi-arabia-warns-ofeconomic-fallout-if-congress-passes-9-11-bill.html?smid=fb-share&_r=0
The biggest-ever leak of secret information involves 11m documents from Panamanian law firm Mossack Fonseca. Here’s how the story is being covered around the world.
- Kremlin dismisses revelations in Panama Papers as ‘Putinphobia’
- What are the Panama Papers? A guide to the biggest data leak in history
It’s always interesting when information like this leaks because it reminds people who are up to no good how fragile and how vulnerable they make themselves by indulging in this kind of activity.
We’ve got an anti-corruption summit here in May. This is a key agenda for the prime minister. We’re working with many countries around the world including Panama – I had a meeting with the Panamanian vice-president just a few weeks ago on this issue. We are making significant progress.
Read more » TheGuardian
See more » http://www.theguardian.com/news/live/2016/apr/04/panama-papers-global-reaction-to-huge-leak-of-offshore-tax-files-live?page=with%3Ablock-570246b8e4b0fde262ff62d9#liveblog-navigation
In fact, taken collectively, Hawking’s numerous warnings are aimed directly at the careless hubris of the ruling elites and their tendency to act in favor of profit — in a variety of fields — without consideration given to long-term consequences resulting from such hastily implemented projects.
Despite the numerous cautionary scenarios Hawking has proffered, he claims society will likely discover the means to cope.
“We are not going to stop making progress, or reverse it, so we have to recognize the dangers and control them,” he stated. “I’m an optimist, and I believe we can.
“It’s important to ensure that these changes are heading in the right directions. In a democratic society, this means that everyone needs to have a basic understanding of science to make informed decisions about the future.
“So communicate plainly what you are trying to do in science, and who knows, you might even end up understanding it yourself.”
Read more » Anonymous
See more » http://anonhq.com/stephen-hawking-warns-humanity-leave-earth-before-the-ruling-class-destroys-it/
In October, a Reddit user asked Stephen Hawking if he thinks robots are coming to take all of our jobs.
“In particular, do you foresee a world where people work less because so much work is automated?” the user asked the renowned physicist on an Ask Me Anything thread.
The question isn’t crazy. Computers are getting smarter and more efficient all the time. It’s conceivable that we one day will reach a point where machines’ output is simply much more valuable than humans’.
Hawking didn’t discount the notion that machines may replace us. But he said whether this is good or bad depends on how the wealth produced by machines is distributed. That is, Hawking is more concerned about capitalism than he is about robots. He wrote:
..Everyone can enjoy a life of luxurious leisure if the machine-produced wealth is shared, or most people can end up miserably poor if the machine-owners successfully lobby against wealth redistribution. So far, the trend seems to be toward the second option, with technology driving ever-increasing inequality.
We could be headed toward a work-free utopia where machine-produced goods and services are cheap and plentiful for all. Or, as Hawking suggests, the coming robot age will just exaggerate the income inequality that’s rampant across the globe. (Hawking is generally ambivalent on the advent of artificial intelligence. “We are facing potentially the best or worst thing to happen to humanity in history,” he has said.)
Read more » Vox
See more » http://www.vox.com/2016/2/27/11119804/stephen-hawking-robots
“Pursuant to UN Security Council (UNSC) Resolution of 2231, Pakistan has decided to lift sanctions against Iran,” read a finance ministry announcement. The modalities for the restrictions sanctions were finalised in an inter-ministerial meeting, it said.
Read more » The Express Tribune
See more » http://tribune.com.pk/story/1050792/pakistan-lifts-sanctions-on-iran-2/
ISLAMABAD: A new train service between Asia and Europe is on the cards. The service will enable Pakistani exports to reach Turkey via Iran in 15 days.
Pakistani exports to Turkey include: rice, sesame seeds, leather, textiles, fabrics, sports’ goods and medical equipment. Turkey’s exports to Pakistan are wheat, chickpeas, lentils, diesel, chemicals, transport vehicles, machinery and energy products.
Read more » Customs Today
See more » http://www.customstoday.com.pk/train-service-between-pakistan-and-turkey-on-the-cards/
More detials: BBC urdu
Canada’s Finning International Inc, the world’s biggest dealer of Caterpillar Inc equipment, posted a lower-than-expected quarterly profit and said it would cut more jobs.
The company, which cut 13 per cent of its global work force last year, said it would cut another 400-500 jobs by mid-2016.
Finning had about 14,500 employees as of Dec. 31, 2014.
Shares of the Vancouver-based company were down 7.4 per cent at $17.29 in early trade.
Finning in November shut 11 facilities in Western Canada, in addition to previously announced 16 closures, to cut costs.
Read more » The Globe And Mail
See more » http://www.theglobeandmail.com/report-on-business/finning-swings-to-loss-to-cut-400-500-more-jobs/article28794252/
MONTREAL — The Globe and Mail – Bombardier Inc. chief executive officer Alain Bellemare is vowing that 2016 will be a “year of transition” for the Montreal-based plane and train maker after significant rounds of cost cutting last year.
But many investors, analysts and observers were disappointed by worse-than-expected fourth-quarter earnings and surprised by the magnitude of a new wave of cost cutting – 7,000 jobs to be slashed over the next two years –
Read more » The Globe And Mail
See more » http://www.theglobeandmail.com/report-on-business/bombardier-to-slash-7000-jobs/article28779506/
Tehran (AFP) – The first train to connect China and Iran arrived in Tehran on Monday loaded with Chinese goods, reviving the ancient Silk Road, the Iranian railway company said.
The train, carrying 32 containers of commercial products from eastern Zhejiang province, took 14 days to make the 9,500-kilometre (5,900-mile) journey through Kazakstan and Turkmenistan.
“The arrival of this train in less than 14 days is unprecedented,” said the head of the Iranian railway company, Mohsen Pourseyed Aqayi.
“The revival of the Silk Road is crucial for the countries on its route,” he said at a ceremony at Tehran’s rail station attended by the ambassadors of China and Turkmenistan.
The journey was 30 days shorter than the sea voyage from Shanghai to the Iranian port of Bandar Abbas, according to Aqayi.
The railway will not stop in Tehran “as we are planning to extend the railway to Europe in future,” generating more income for Iran from passing trains, he added.
Read more » Yahoo News
See more » http://news.yahoo.com/first-silk-road-train-arrives-tehran-china-134703954.html
Bets are rising that Pakistan will default on its debt just as it starts to revive investor interest with a reduction in terrorist attacks.
Credit default swaps protecting the nation’s debt against non-payment for five years surged 56 basis points last week to 620 points amid the global market sell-off, according to data compiled by Bloomberg. That’s the highest since January 2015 and the steepest jump after Greece, Venezuela and Portugal among more than 50 sovereigns tracked by Bloomberg.
About 40 percent of Pakistan’s outstanding debt — both local and foreign — is due to mature in 2016, according to data compiled by Bloomberg. That’s roughly $45 billion, of which about 4.3 trillion rupees ($41 billion) is in local currency.
Read more » Bloomberg
See more » http://www.bloomberg.com/news/articles/2016-02-14/pakistan-default-risk-surges-as-50-billion-debt-bill-coming-due
LAHORE: A delegation of investors group of Turkey met Punjab Chief Minister Shahbaz Sharif on Wednesday and announced to invest in transport sector in Punjab.
Read more » Daily Times
See more » http://www.dailytimes.com.pk/punjab/11-Feb-2016/turk-investors-interested-in-punjab-s-transport-sector
BY AMIN AHMED
ISLAMABAD: Queen Maxima of the Netherlands, who is the UN Secretary-General’s Special Advocate for Inclusive Finance for Development, said here on Tuesday that Pakistan had built one of the strongest foundations for financial inclusion in the world.
She was speaking at the launching ceremony of the Universal Financial Access initiative of the State Bank of Pakistan (SBP).
The queen said new regulations had supported the emergence of branchless banking, a growing microfinance sector, effective payments systems and a more constructive approach to customer identification.
Read more » DAWN
See more » http://www.dawn.com/news/1238590/
Calgary-based Husky Energy said it has laid off workers on Tuesday but declined to provide specific numbers or details on the jobs lost.
“These are difficult decisions and we will continue to take the steps necessary to ensure the company’s resilience through this cycle and beyond,” spokesperson Mel Duvall wrote in a statement.
Duvall said the job cuts were across the company’s operations.
Posts on social media and tips sent to Global News from people claiming to be employees suggested as many as 500 positions had been eliminated.
Read more » Global News
See more » http://globalnews.ca/news/2507657/husky-energy-lays-off-workers-across-companys-operations/
By Chris Hedges
Karl Marx exposed the peculiar dynamics of capitalism, or what he called “the bourgeois mode of production.” He foresaw that capitalism had built within it the seeds of its own destruction. He knew that reigning ideologies—think neoliberalism—were created to serve the interests of the elites and in particular the economic elites, since “the class which has the means of material production at its disposal, has control at the same time over the means of mental production” and “the ruling ideas are nothing more than the ideal expression of the dominant material relationships … the relationships which make one class the ruling one.” He saw that there would come a day when capitalism would exhaust its potential and collapse. He did not know when that day would come. Marx, as Meghnad Desai wrote, was “an astronomer of history, not an astrologer.” Marx was keenly aware of capitalism’s ability to innovate and adapt. But he also knew that capitalist expansion was not eternally sustainable. And as we witness the denouement of capitalism and the disintegration of globalism, Karl Marx is vindicated as capitalism’s most prescient and important critic.
In a preface to “The Contribution to the Critique of Political Economy” Marx wrote:
Read more » truthdig
See more » http://www.truthdig.com/report/item/karl_marx_was_right_20150531
Malaysian airline plans Pakistan operations
LAHORE: A Malaysian airline is going to start its operations in Pakistan from March, Malaysian High Commissioner to Pakistan Hasrul Sani Mujtabar disclosed on Monday, as part of increased people-to-people and business-to-business contacts between two countries.
Read more » DAWN
See more » http://www.dawn.com/news/1238240/
GWADAR: A heavy police presence, guarded convoys, new checkpoints and troop reinforcements have turned parts of the southern port city of Gwadar into a fortress, as Pakistan’s military seeks to protect billions of dollars of Chinese investment.
Securing the planned $46 billion economic corridor of roads, railways and pipelines from northwest China to the country’s Arabian Sea coast is a huge challenge in a country where militants and separatist gunmen are a constant menace.
Read more » DAWN
See more » http://www.dawn.com/news/1238167/
LONDON — Reuters: BP slumped to its biggest annual loss last year and announced thousands more job cuts on Tuesday, showing that even one of the nimblest oil producers is struggling in the worst market downturn in over a decade.
Read more » The Globe and Mail
See more » http://www.theglobeandmail.com/report-on-business/international-business/european-business/bp-posts-worst-annual-loss-in-20-years-to-cut-7000-more-jobs/article28505561/