Hjoc SBP hikes key policy rate at two-decade high of 16%
LONDON:The winning investment strategy of 2013 has been simple but extreme: return home to
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the safety of the biggest,
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most-traded markets, or venture to the riskiest frontiers from Ivory Coast to Pakistan.Those in the middle of the risk curve - the biggest emerging markets that
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now account for almost half of the top 20 world economies - have been the big losers.The contrasting fortunes may herald the start of a broader re-pricing of big emerging economies where a flood of cheap money from developed economies has distorted prices the most.Risk - which dominated global financial markets in the past few years - has played a smaller role in defining the performance this year. Developed and frontier stocks, which sit on the extreme ends of the risk spectrum, outperformed emerging equities.But two different forms of liquidity may have been the key.Emerging markets have received an estimated $4.2 trillion of global liquidity pumped by the likes of the US Federal Reserve and Bank of Japan sinc ISLAMABAD:Prime Minister Imran Khan has allowed the withdrawal of the subsidy on wheat flour for urban consumers and agreed to increase the release price of the commodity to mills by over 32%
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to Rs1,950 per 40kg due to limited fiscal space. ldquo;The wheat release price has been fixed at Rs1,950 per 40kg, rdquo; Finance Minister Shaukat Tarin said on Tuesday while
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addressing a news conference that was held to explain the reasons behind the soaring inflation and public debt.The minister added that the release rate of Rs1,950 per 40kg would ldquo;help reduce the wheat flour price rdquo;.The wheat release price in the last season was Rs1,475 per 40kg. The provincial governments issue wheat to the flour mills from its stocks at the release price.The provincial governments supply wheat to the mills at controlled prices to
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ensure availability of the flour at relatively reasonable rates.Jamshed Iqbal Cheema, special assistant to the PM on food security, said the decision to fix wheat release