FCC, LCCI agree to enhance
cooperation
LAHORE (Staff Reporter): In recognition of LCCI services for the cause of economy and education, Forman Christian College (FCC) on Friday named one of its historic halls after the Lahore Chamber of Commerce & Industry. Rector Forman Christian College Dr James Tebbe, LCCI President Ijaz A. Mumtaz were present in this prestigious gathering. On the occasion, FCC and LCCI also signed a memorandum of understanding aimed at establishing long term, sustainable and mutually beneficial cooperation in areas of bilateral interest for promoting research, training, education, and employment opportunities between LCCI and FCC. As per MoU, both institutions would ensure internship and recommendations for job placement, participating in seminars and standing committees, FCC consultancy, information and data exchange, collaborative research projects, short term training programs, running of educational programs on specialized topics, participation of LCCI in curriculum development and seats for LCCI members, staff & their children for FCC degree programs.

Zong leads CMOs to seek removal of ban on 5 SIMs per CNIC
LAHORE (Staff Reporter): After strong demand from consumers, Zong took an initiative in June this year to seek removal of 5 SIMs per CNIC restriction on data SIMs by taking the matter to Supreme Court. This restriction was causing huge revenue loss to both government and industry and it had become a hurdle in industry growth rate. Zong, by submitting an application, broke the silence in this regard as none of the CMOs took initiative against this restriction. Zong took the stance that the biometric verification kills the very basis reason on which the limit of five SIMs was imposed. During the hearing PTA chairman spoke in favor of the application and said it is a great way to empower the growth of the data customers in Pakistan.

SECP launches survey to
evaluate benefits of portal
ISLAMABAD (INP): In order to evaluate the services and features of its investor education web portal ‘JamaPunji, the SECP is conducting an online survey. The survey will help find out the views of the public on JamaPunji. Further, the feedback from the survey will help improve the quality and services of the portal so that the objective of developing a digital learning platform for investor awareness can be achieved. The SECP’s web portal JamaPunji was launched on June 9. It was envisioned to play a key role in the SECP’s overall investor education program. A very good response from the public has been seen. A large number of people are acknowledging the SECP’s effort by signing up as registered users.
The portal’s exclusive features include risk profiler, scam meter, investment check lists, quizzes, games, calculator, stock trading simulator and information about various financial products. The portal is also educating about dispute resolution mechanism and complaint filling process. In addition, it is providing the public the facility to verify whether a particular company was registered with the SECP or not.

Farmers annoyed over increase
in fertiliser prices
LAHORE (INP): Farmers across the country especially in Punjab have expressed grave concerns over an increase of Rs159 in prices of 50 kilogram bag of fertilizers. The representatives of farmers associations said that increase in fertilizers prices will further add to the miseries of the poor cultivators who were already suffering due to high prices of seeds, agricultural sprays and fail to get the reasonable prices of their yields after hard work of several months. They were of the view that government make tall claims of facilitating the growers but on-ground reality is that it was further increasing the hardships of the cultivators. The local fertilizer manufacturers have announced an increase of Rs159 on 50kg bag of fertilizers.

Oil dips in cautious trade ahead of US jobs report
LONDON (AFP): Oil prices slipped in cautious trade Friday as investors awaited the release of a US jobs report for August that could determine the Federal Reserve's timetable for hiking interest rates. US benchmark West Texas Intermediate (WTI) for October delivery lost 36 cents to $46.39 per barrel. Brent North Sea crude for October dropped 27 cents in mid-day London deals to $50.41. "With the Federal Reserve closely eyeing employment figures in order to gauge the strength of the economy, US non-farm payrolls should be crucial," said Daniel Ang, investment analyst at Phillip Futures in Singapore. "If non-farm payrolls turn out lower than expected, this could suggest a December 2015 rate hike instead" of a move this month, Ang said.
A rate hike would likely strengthen the greenback, making dollar-priced oil more expensive to holders of weaker currencies, hurting demand and prices.
But the crude market also remains under pressure from Saudi Arabia's policy of oversupply and its new drop in its export prices, especially towards Asian countries, in order to protect its share of the global market.
"Thanks to the expansionary production policy pursued by Saudi Arabia and record-high oil production in Iraq, the oil market is significantly oversupplied. In addition, there is the prospect of additional oil from Iran," after Western sanctions are lifted as part of the landmark nuclear deal, said analysts at Commerzbank.
Prices have fluctuated wildly in recent weeks on uncertainty about Fed monetary policy as well as worries about the strength of the economy of number-one energy consumer China.
Tuesday saw them turn sharply lower after weak manufacturing data from China and the United States. They had surged more than 25 percent over the three days before that.