Monday, October 27, 2014, Muharram Ul Haram 02,1436 A.H Jang Online | Daily Jang | The News | The News Blog | Back issues
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US shale producers reduce costs as oil price dips
By Ed Crooks
9252_10_27_2014_1.gifAverage fracking development needs a crude price of $57 a barrel to break even compared with $70 in summer 2013

As oil prices have fallen, the cost of production from US shale has emerged as a critical question for investors.

In a downturn, higher-cost supply is most at risk, and the need for horizontal wells and hydraulic fracturing - “fracking” - in shale reserves means they are more expensive to develop than many oilfields in the Middle East. ....

Breakup fears
By Ihtasham ul Haque
9256_10_27_2014_1.gifIs the government falling apart with the IMF and are we heading towards May 2010 situation when the Washington based multilateral agency suspended $11.3 billion Standby Arrangement (SBA) following the failure of the then PPP regime to abide by the performance criteria agreed between the two sides.

Now, it is feared, the incumbent administration is facing same situation to keep its $6.5 billion three years Extended Fund Facility (EFF) intact in terms of successfully implementing benchmarks and conditions attached with the tough loaning program. ....

Immediate remedy
By Harris Zamir
9257_10_27_2014_1.gifFor the past one decade, Pakistan’s economy has been in a severe crisis. Gas exploration has ebbed over the years, while demand for energy rose significantly. The output of natural gas tapered around 4.2 billion cubic feet per day. But its demand has pegged at 6.2 billion cubic feet. Moreover, in order to effectively meet the rising energy demands of all the sectors of the country - a staggering 8 billion cubic feet of gas per day is required.

Two successive governments have been trying to win this battle and struggling to reduce gas shortages. ....

Limping together
By Tariq Ahmed Saeedi
9258_10_27_2014_1.gifQazi Asif, 45, may be overlooked for his doing things like any other do-it-yourself IT entrepreneur, but he wasn’t that much self-indulged before he quit his well-paid senior position at a well-known institution in Karachi to thrust his own startup.

He did that; set up an office; hired staff and swung into profit within just a few months after the start six years ago.

“Suddenly, then all went topsy turvy as a big client defaulted on its payment,” Qazi recalled. ....

Abject poverty
By Jan Khaskheli
A fashion designer Phulan along with other women was watering the vegetable plants on earthen pots at the rooftop of a community centre located at Ghera Muhalla in Hyderabad City when this scribe visited there.

Ghera Mohala is a slum settlement of about 450 families living in the most congested area without basic facilities of drinking water, sanitation, electricity, gas and schools.

Despite all the odds, Phulan, the mother of five is optimistic. “We will be able to have our own grown vegetables for food,” she said with conviction. ....

Urban seethe
By Ammar Shahbazi
9260_10_27_2014_1.gifA sixty-five year old trader was sprayed with bullets outside his home in Karachi’s Landhi neighbourhood two weeks ago. He died on the spot.

Iqbal Ramzan was a wealthy businessman. He owned a chain of electronic stores in the city and was building another one in Landhi area when he got a call. His son told the police that Ramzan looked disturbed few days before he was killed. ....

Complex task
By Zeeshan Haider
9261_10_27_2014_1.gifMuhammad Zubair worked at different positions at the IBM for 26 years but he believes that spearheading the privatisation process in Pakistan is the hardest job of his career. He was offered the job when he had a cruise dinner with Prime Minister Nawaz Sharif in Thailand. Though some friends dissuaded Zubair from taking this job given the political risks involved, he took up the gauntlet.

Zubair, a former IBM chief financial officer for the Middle East and Africa, has also served as Chairman of the Board of Investment and been part of the economic team of Pakistan Muslim League-Nawaz before he was appointed Minister of State and Chairman of the Privatisation Commission in December last year. ....

Aesthetic canon
By Andaleeb Rizvi
9262_10_27_2014_1.gifIn Florence during the 15 century, investment in art was often made at great economic duress to gain political and social power. Pioneers of the Renaissance, the Medici patronised some of the greatest master painters, sculptors and architects like Botticelli, Michelangelo, da Vinci, Brunelleschi, and likes, for showing power and might; in short, to intimidate the masses.

The patronisation of the Renaissance transitioned to being an art collector, when people with an appreciative eye bought paintings, sculptures, and other works for their own personal satisfaction. ....

More Articles   
- Urban seethe

- Immediate remedy

- US shale producers reduce costs as oil price dips
- Reasons to be bearish on US banks
- Volatility tests the nerve of the dollar bulls
- Concerns remain over Chinese rival to ADB

- Abject poverty

- Breakup fears

- Complex task

- Limping together

- Aesthetic canon


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