Month: October 2020

How a lack of innovation is crippling Pakistan’s economy

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A continued investment in the technology sector often distinguishes developed nations from developing nations. An increased focus on this sector not only yields positive dividends on growth but also facilitates headway on the development front. This is why countries – like China – which house an overwhelming proportion of the competitive high-tech industry enjoy long-term economic prosperity in the wake of cost-efficient outputs that nimbly tap into both local and foreign markets. However, technology is not an input that any country can code into its economy. It results from sustained…

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Are Stock Markets About To Crash Again?

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Late last year, a cross-section of pundits predicted that 2020 would go down as one of the most volatile years in the history of financial markets mainly due to escalating trade wars. Turns out they were half-right. The current year really has been one of the most volatile on record not due to the feared trade tensions but a much deadlier foe: Covid-19. The global pandemic was directly responsible for the epic market crash back in March–the fastest in history–and it could be about to do the markets in, again.…

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Traders Look To Store Diesel At Sea As Second Wave Hits Demand

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In another sign that the second coronavirus wave is hitting fuel demand, oil trading firms are looking for new supertankers to use them as floating storage for diesel as demand is expected to suffer from the renewed lockdowns in major European economies, trade and shipping sources told Reuters. Diesel in global floating storage is expected to increase as major oil firms and trading houses are on the prowl for supertankers, expecting lower than usual diesel demand from the industrial, heating, and transport sector in the coming months. Concerns about fuel…

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Aggressive push to 100% renewable energy could save Americans billions – study

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An aggressive push towards 100% renewable energy would save Americans as much as $321bn in energy costs, while also slashing planet-heating emissions, according to a new report. Joe Biden, the Democratic presidential nominee, has vowed to eliminate greenhouse gases from the US power grid within 15 years and essentially zero out emissions by 2050, a plan assailed by Donald Trump as costly and detrimental to the American economy. But a new analysis by Rewiring America, an energy policy organization, finds that households would benefit financially from a complete switch to clean…

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Olive Cultivation is The Best Solution for Pakistan’s Economy, Here’s Why

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Olive production in Pakistan is the next best agricultural solution for supporting the country’s cash-strapped economy. Current shifts in global economics call for innovation in the agriculture sector and a new export portfolio. According to reports, Pakistan imports olive oil worth $2 billion every year. In attempts to overcome this negative balance, the Punjab government initiated an olive production program in Potohar that planted more than 1 million olive trees on 8,000 acres of cultivable land in 2016. Agriculture reforms that address cohesive economic growth are much needed in Pakistan.…

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