Global Economy
A new world economy: power shift to the East
It may not top the must-see list of many tourists. But to appreciate Shanghai's ambitious view of its future, there is no better place than the Urban Planning Exhibition Hall, a glass-and-metal structure across from People's Square. The highlight is a scale model bigger than a basketball court of the entire metropolis -- every skyscraper, house, lane, factory, dock, and patch of green space -- in the year 2020.

Allied Bank Limited TFC: AA-, Outlook: Stable
JCR-VIS upgrades ratings assigned to the 1st TFC issue of Allied Bank Limited
JCR-VIS Credit Rating Company Limited (JCR-VIS) has upgraded ratings assigned to TFC-1 issued by Allied Bank Limited (ABL) to AA- (Double A Minus) with a Stable outlook.

GLOBAL MARKETS
Global stock market plunge: nowhere to hide
Precious few countries have escaped the wave of selling that has swept through global markets this year and those fortunate enough to have done so are generally quite small, showing that this year there is almost nowhere for investors to hide.

THE NEWS Index January-May 2008
End of Last End of Net Net
Month Previous Change Change
Month Points %
Composite 7,245.0 7,804.4 (559.4) (7.2) (-)
Financials 4,393.8 4,968.9 (575.1) (11.6) (-)
Industrials 8,550.0 9,025.2 (475.2) (5.3) (-)

IN FOCUS
Looking forward to opportunities in trade and business
Brief Resume
Born in 1962, Tashkent, Uzbekistan, he completed master of sciences degree from Tashkent State University in1985. He learnt many languages and is fluent in English, Persian, Pashto, and Russian. He started his professional career as interpreter for the foreign section, joined military service in 1986 and worked for two years. He was appointed Head of the South Asian Division, National Association on International and Cultural Relations of Uzbekistan(1996-1998). He worked as Vice-Consul of the Republic of Uzbekistan in Karachi, Pakistan, 1998-2000. Presently he is Ambassador Extraordinary and Plenipotentiary of the Republic of Uzbekistan to the Islamic Republic of Pakistan.

Beijing Olympics: expectations, apprehensions and undue criticism
By Shabir Mohsin Hashmi
In the backdrop of expectations, excitements, apprehensions, opposition and undue criticism, the stage is set for Beijing Olympics 2008. Beijing Olympics and Paralympics are of great importance in promoting China's economic and social development and increase friendship and cooperation with other countries. Moreover, Chinese are considering this opportunity not only a national pride but also a valuable legacy for future generation. Major sports events are often seen as potential source of economic regeneration, yet these presences often invoke powerful opposition.

RATING ROUNDUP
Publicly Notified Ratings by JCR-VIS Credit Rating Company LIMITED
ISSUE / ISSUER MEDIUM TO OUTLOOK SHORT
LONG TERM TERM
Entity Ratings
AlBaraka Islamic Bank BSC - Pakistan Branches A Stable A-1
Al Meezan Investment Management Ltd. A Stable A-2
Al Noor Sugar Mills Ltd BBB+ Stable A-2