Up and up all the way
By M. Bilal Aftab
Karachi stock market continued its upward journey through the month of June 2003. All the stock market indicators remained highly bullish achieving new records of high levels.

IN FOCUS
Fruits & Juices exports to USA
By Ismat Sabir
The processed food and beverages industry is considered to be one of the largest industrial sectors in Pakistan. It accounts for approx 27% of total production and 16% of total employment in the manufacturing sector. The total value of production was over Rs. 46 billion.

A case study of Islamic bank
By M. Aslam Saleemi
Definition of Islamic Bank
An Islamic Bank is a financial institution which operates with the objective of implementation of the economic and financial principles of Islamic Shariah in the arena of banking.

REFLECTION
Unemployment: a difficult scenario
By Rashid Ahmed Mughal
One of the most pressing, urgent and daunting problem Pakistan is facing today is that of unemployment which is almost touching double digit and gross inequality in gender employment (as female unemployment rate for rural areas is almost 30%). The task for the planners is uphill and Herculean. 

RATING ROUNDUP
Publicly Notified Ratings by JCR-VIS Credit Rating Company LIMITED
Adamjee Insurance Company Ltd.
Insurer Financial Strength (IFS) Rating AA-
ON RATING WATCH

SPOTLIGHT
Globalisation and international migration after 9/11
By Rashid Ahmed Mughal
The history of migration is perhaps as old as mankind. People migrate for two reasons -- better quality of life and availability of resources to live decently. 

SPECIAL REPORT
Cancun trade talks: Cleavages and compromises at whose cost?
Shafqat Munir
The Trans Atlantic cleavages and compromises continue to emerge, even at the World Trade Organisations (WTO) negotiations. They are being held at various levels on a number of areas particularly on trade in agriculture, with Washington supporting sweeping farm trade liberalisation in the WTO and the European Union arguing for overhauling common agricultural policy (CAP) subsidies. 

STOCK MARKET CONFIDENCE
NEWS - CresBank STOCK EXCHANGE CONFIDENCE BAROMETER
Standing at low
During December 2001, level of investors' confidence in the stock market remained low as compared to that prevailed during the preceding month. The News-CresBank Confidence Barometer for December was measured at 38 per cent on an aggregate basis. Despite dropping down from 47 per cent of November, the barometer managed to maintain the same category of 'very low to low'. A week-to-week analysis reveals that the barometer managed to go as high as 44 per cent, in the middle of the month. and dipped as low as 33 per cent toward the month-end, hardly float above the 'very low' category.

The Stock Market Confidence Barometer developed by Vital Information Services Pvt. Ltd. is a unique instrument that expresses in percentage the level of investors' confidence prevailing at the Karachi Stock Exchange taking into account each and every share transaction. The model electronically tracks the number of shares traded (adjusted for free float) at the KSE along with their respective prices, to find out the exact movement of investors' money. The investors place their funds world wide in other than safe-haven stocks when they are confident of the prevailing economic and political situation. On the other hand, when they are not so confident of the economic and political developments, they transfer their funds from those comparatively risky items to the safe-havens. This phenomenon is the foundation stone of this Confidence Barometer.
-- M. Bilal Aftab

CORP CORNER