Finance
Pakistan to exit FATF grey list this year: Tarin
The Federal Minister for Finance and Revenue, Shaukat Tarin said that Pakistan would exit from the grey list of Financial Action Task Force (FATF) this year as it has already achieved almost all targets set by the task force.
“We have completed 26 conditions out of 27 of the action plan,” the minister, who is in Dubai, told Khaleej Times and termed the FATF decision as politically motivated.
It is pertinent to mention that on Friday, the FATF announced that it was retaining Pakistan on the grey list while noting that significant progress had been made in completing the required action items for removal from the list.
In a statement, the FATF said that Pakistan completed 26 of the 27 action items in its 2018 action plan.
It encouraged Pakistan to continue to make progress to address the one remaining item as soon as possible.
It further added since June 2021, Pakistan has taken swift steps towards improving its AML/CFT regime and completed six of the seven action items ahead of any relevant deadlines expiring.
“Pakistan should continue to work to address the one remaining item in its 2021 action plan by demonstrating a positive and sustained trend of pursuing complex money laundering investigations and prosecutions,” the statement said.
Meanwhile, head of research at Pakistan Kuwait Investment Company, Samiullah Tariq said Pakistan was already in the grey list since 2018, so there was no major impact expected on business and markets in near term.
“In my view Pakistan’s performance has been impressive while complying with FATF parameters and it is also acknowledged by the FATF. Pakistan should have been excluded from the grey list amid considering its significant progress on improving its financial system and check terror financing,” Tariq told Khaleej Times.
In a statement, the finance ministry said Pakistan presented its case in an effective manner and also reaffirmed its political commitment to continue with the efforts to complete the action plans.
“The FATF reviewed Pakistan’s progress on both action plans in its plenary meeting. The FATF members, while participating in the discussion on Pakistan’s progress, recognised Pakistan’s continuing commitment towards sustainable, robust AML/CFT frameworks,” the statement said.
“The country is making endeavours to complete the last two remaining items of both the action plans, as early as possible,” the statement said.
crypto
Claim Your Share: The Top Airdrops This September That Could Make You Rich!
September is a vibrant month for airdrops in the cryptocurrency world, with numerous opportunities available for enthusiasts. Following the successful $DOGS airdrop in August, excitement has surged, prompting various projects to announce their own airdrops, including $CATS, $GOATS, XEmpire, and more.
Upcoming Airdrop Schedule
- W-Coin (September 15)
W-Coin has quickly established itself in the crypto space with its tap-to-earn model, rewarding users for task completion and social media engagement. - $GOATS (September 15)
This new tap-to-earn game, launched shortly after $DOGS, has garnered significant interest due to its unique goat-themed concept. - $CATS (September 16)
Following the success of $DOGS, $CATS has announced its Token Generation Event (TGE) and airdrop, promising exciting rewards for participants. - Catizen AI (September 20)
With the motto “Play For Airdrop, Heal the World,” Catizen AI is launching its Game Centre and airdrop after overcoming initial delays. - Rocky Rabbit (September 23)
This smaller project is generating buzz within its close-knit community, potentially offering higher rewards due to its limited participant pool. - $HMSTR (September 26)
Despite facing delays, the $HMSTR airdrop for Hamster Kombat remains highly anticipated, with many eager to claim their tokens. - XEmpire (September 30)
Inspired by Elon Musk, XEmpire is set to launch its airdrop, combining innovative gameplay with a strong community following.
This month promises to be filled with opportunities for crypto enthusiasts to capitalize on these airdrops.
Citations:
[1] Best Upcoming Crypto Airdrops List September 2024 | CoinEx https://www.coinex.com/en/blog/9076-crypto-airdrops-list-2024
[2] Crypto Airdrops of September 2024: Live and Upcoming https://coinairdrops.com
[3] 3 TON Airdrops For September: Full Details Revealed – BeInCrypto https://beincrypto.com/ton-airdrop-september-full-details/
[4] 5 Telegram Crypto Airdrops Launching This September – YouTube https://www.youtube.com/watch?v=fJ3nPzVZiPM
[5] Crypto Airdrops List September 2024 » Find free airdrops & bounties! https://airdrops.io
[6] Latest Crypto Airdrops September 2024 – Airdrops.io https://airdrops.io/latest/
[7] All actual airdrops of the 2024 year – incrypted https://incrypted.com/en/airdrops/
[8] Telegram Airdrop listing dates: Major, MemeFi, LostDogs, TAP https://www.coingabbar.com/en/crypto-blogs-details/telegram-airdrop-listing-dates-tonstation-lostdogs-catizen-blum
Startups
Unpacking the Debate: UK Pension Fund Investments and Infrastructure Development – Insights from John Armitt
Introduction:
In a recent development, John Armitt, a prominent figure in infrastructure, has raised concerns about the pressure on UK pension funds to increase their investments within the country. This article delves into the complexities of this issue, exploring the perspectives and implications involved.
Understanding the Context:
John Armitt’s stance reflects a broader debate within the financial and infrastructure sectors regarding the allocation of pension fund investments. It raises questions about balancing national interests with global opportunities and optimizing returns for pension holders.
The Role of Pension Funds in Infrastructure Investment:
Pension funds play a crucial role in financing infrastructure projects, providing long-term capital for developments that benefit society and generate returns for investors. However, the allocation of these funds is subject to various considerations.
Benefits of Investing in Infrastructure:
Investing in infrastructure offers stable returns, diversification benefits, and contributes to economic growth and job creation. It also aligns with sustainable development goals and can enhance a country’s competitiveness.
Challenges Faced by Pension Funds:
Pension funds must navigate regulatory requirements, risk management considerations, liquidity needs, and fiduciary responsibilities when making investment decisions. Balancing these factors while maximizing returns is a complex task.
Perspectives on Domestic vs. International Investments:
The debate around whether pension funds should prioritize domestic investments over international opportunities is multifaceted, with valid arguments on both sides.
Arguments for Domestic Investments:
Advocates for domestic investments argue that supporting local infrastructure projects can boost national development, create jobs, and strengthen economic resilience. It also aligns with principles of responsible investing and supports local communities.
Arguments for International Diversification:
On the other hand, proponents of international diversification highlight the need to seek the best investment opportunities globally to optimize returns for pension holders. Diversifying geographically can mitigate risks and enhance portfolio performance.
John Armitt’s Perspective:
John Armitt’s comments emphasize the importance of pension schemes focusing on finding the best possible investment opportunities, regardless of geographical location. His viewpoint underscores the need for strategic decision-making based on maximizing returns while considering broader societal impacts.
Key Takeaways from John Armitt’s Statements:
- Prioritizing investment quality over geographical location
- Emphasizing the importance of due diligence in selecting projects
- Balancing risk and return considerations effectively
Implications for Pension Fund Managers:
The debate surrounding UK pension fund investments has implications for fund managers tasked with optimizing returns while fulfilling their fiduciary duties.
Strategies for Pension Fund Managers:
- Conducting thorough due diligence on potential investments
- Balancing risk factors with return expectations
- Considering both domestic and international opportunities based on merit
- Engaging with stakeholders to align investment decisions with broader objectives
Conclusion:
The discussion sparked by John Armitt’s comments highlights the complexities involved in pension fund investments in infrastructure. Balancing national interests with global opportunities requires thoughtful consideration and strategic decision-making by all stakeholders involved.
In conclusion, finding the right balance between domestic and international investments is essential for pension funds to fulfill their dual mandate of generating returns for investors while contributing to societal development. By navigating these challenges effectively, pension fund managers can optimize their portfolios and support sustainable infrastructure development.
Banks
Navigating the Path to Tame Inflation: Central Bankers Eye Rate Cuts by Summer
Introduction
In the realm of economics, the battle against inflation has long been a central focus for policymakers and central bankers worldwide. Recent data has provided a glimmer of hope, suggesting that victory in this struggle may be within reach. Central bankers are now cautiously optimistic, with newfound confidence in their ability to implement rate cuts by the upcoming summer months. This article delves into the intricacies of this development, exploring the implications and potential outcomes of such a significant shift in monetary policy.
Understanding the Current Landscape:
To comprehend the significance of central bankers’ newfound confidence, it is essential to first grasp the current economic landscape. Inflation, the persistent rise in prices of goods and services over time, has been a persistent concern for policymakers globally. The delicate balance between stimulating economic growth and controlling inflation has been a perennial challenge, with central banks playing a pivotal role in navigating these waters.
Data Insights:
Recent data releases have provided central bankers with valuable insights that have bolstered their confidence in pursuing rate cuts. Key indicators such as consumer price indexes, wage growth figures, and manufacturing output have all pointed towards a more favorable outlook for inflation control. These data points serve as crucial tools for policymakers to assess the health of the economy and make informed decisions regarding monetary policy adjustments.
Policy Implications:
The prospect of rate cuts by central banks carries significant implications for various stakeholders within the economy. Lower interest rates can stimulate borrowing and spending, thereby boosting economic activity. However, there are also potential risks associated with such measures, including concerns about asset bubbles and financial instability. Central bankers must carefully weigh these factors when considering rate cuts as a tool to tame inflation.
Challenges Ahead:
While the possibility of rate cuts may signal progress in the fight against inflation, challenges still lie ahead for central bankers. Uncertainties surrounding global economic conditions, geopolitical tensions, and supply chain disruptions all pose potential obstacles to achieving long-term stability. Navigating these challenges will require a delicate balancing act on the part of policymakers to ensure sustainable economic growth while keeping inflation in check.
Market Reactions:
The announcement of potential rate cuts by central banks is likely to have ripple effects across financial markets. Investors will closely monitor these developments, adjusting their strategies based on expectations of future interest rate movements. Stock markets, bond yields, and currency valuations are all sensitive to changes in monetary policy, making it crucial for market participants to stay informed and adaptable in response to evolving conditions.
Conclusion:
In conclusion, the prospect of central bankers implementing rate cuts to tame inflation represents a significant milestone in the ongoing battle against economic challenges. While this development offers hope for improved economic conditions, it also underscores the complexity and uncertainty inherent in monetary policy decisions. By staying attuned to data insights, understanding policy implications, and navigating potential challenges ahead, central bankers can strive towards achieving a delicate balance that fosters sustainable growth and stability in the global economy.
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