Posts

Showing posts from November, 2013

Remembering JFK on 50th Anniversary of Assassination in Dallas, Tx

Image
I was a little child growing up in Karachi when the news of JFK's assassination was received with great shock and extreme sorrow in Pakistan. That was 50 years ago today. Just a couple years earlier in 1961, Pakistan's President Mohammad Ayub Khan had  made a successful state visit to the United States. He was warmly received at Andrews Air Force Base near Washington DC by US President John F. Kennedy and First Lady Mrs. Jacqueline Kennedy.  I saw the pictures of President Ayub Khan meeting with the US President John F. Kennedy as did other Pakistanis. There were also many photographs of young JFK and his beautiful family splashed across the front pages of major Pakistani newspapers during and after the visit. The sudden loss of the young American president in 1963 was deeply felt as Pakistanis viewed images of his beautiful young widow and two little children mourning for their loved one at his funeral.

US-Pakistan ties were extremely close in 1960s. President Ayub was extend…

US Finds India's IT Software and Services Exports Wildly Exaggerated

Image
A 2005 study by US General Accounting Office (GAO) found that Indian government's figures for software and technology exports to the United States were 20 times higher than the US figures for import of the same from India.

U.S. General Accounting Office looked at the 2003 data showing the United States reported $420 million in unaffiliated imports of BPT (business, professional, and technical) services from India, while India reported approximately $8.7 billion in exports of affiliated and unaffiliated BPT services to the United States.

The GAO found at least five definitional and methodological factors that contribute to the difference between U.S. and Indian data on BPT services. First, India and the United States follow different practices in accounting for the earnings of temporary Indian workers residing in the United States. Second, India defines certain services, such as software embedded on computer hardware, differently than the United States. Third, India and the United …

Pakistan Tops South Asia in Value Added Agriculture

Image
Livestock revolution enabled Pakistan to significantly raise agriculture productivity and rural incomes in 1980s. Economic activity in dairy, meat and poultry sectors now accounts for just over 50% of the nation's total agricultural output. The result is that per capita value added to agriculture in Pakistan is almost twice as much as that in Bangladesh and India.

Adding value is the process of changing or transforming a product from its original state to a more valuable state, according to Professor Mike Boland of Kansas State University. The professor explains how it applies to agriculture as follows:

"Many raw commodities have intrinsic value in their original state. For example, field corn grown, harvested and stored on a farm and then fed to livestock on that farm has value. In fact, value usually is added by feeding it to an animal, which transforms the corn into animal protein or meat. The value of a changed product is added value, such as processing wheat into flour. I…

Multi-Billion Dollar Gain For Twitter Investor Suhail Rizvi

Image
Suhail Rizvi's 15.6% stake in Twitter was worth $3.8 billion at the end of trading on Thursday when the social media company went public on the New York Stock Exchange.

Suhail Rizvi was born in India and graduated from the University of Pennsylvania's Wharton Business School. He started and sold a telecom company soon after, and with the proceeds financed the buy-out of an electronic manufacturing business of a Puerto Rico phone company whose annual revenue he boosted from $10 million to $450 million by focusing on higher end products, according to Times of India.

Suhail Rizvi moved with his parents to the United States in 1971 when he was only five. His father Raza Rizvi taught psychology at Ellsworth Community College in Iowa Falls, Iowa, where Suhail and his brother Ashraf, who is a hedge fund manager, went to school.

In addition to Rizvi Traverse Capital's  $3.82 billion, other big winners of Twitter IPO include Evan Williams $2.55 billion,  JP Morgan $2.19 billion,  S…

Pakistani-American Female Superhero Debuts in 2014

Image
The new Ms. Marvel’s real name is Kamala Khan, a 16-year-old Muslim Pakistani-American girl from Jersey City, New Jersey. “Kamala has all of her opportunities in front her and she is loaded with potential, but her parents’ high expectations come with tons of pressure,” says Marvel's press release. “When Kamala suddenly gets powers that give her the opportunity to be just like her idol, Captain Marvel, it challenges the very core of her conservative values.”

Kamala Khan as Ms. Marvel is the first comic book character from Marvel Entertainment who is both female and Muslim. It is part of the American comic giant's efforts to reflect a growing diversity among its readers.

The new Ms. Marvel series is mainly the work of two women: G. Willow Wilson, a convert to Islam who created the character, and Sana Amanat who edits it.

Here's how Wilson describes the main character of the comic: "Islam is both an essential part of her identity and something she struggles mightily …

Pakistani-American Founder's Silicon Valley Company to Go Public

Image
Book rental companies like Silicon Valley based Chegg, founded by Pakistani-American Osman Rashid and Indian-American Aayush Phumbhra, are helping American college students deal with rising textbook costs. Their business is inspired by Netflix movie rental business. Other major contenders in this space are Bookrenter, Textbooks.com, eCampus, BookByte, Direct Textbooks, Student Book Trades and Textbook Recycling.

Osman Rashid is the son of  a Pakistani diplomat. He was born in London and raised in Islamabad. He came to the United States from Pakistan in 1990s to study electrical engineering at University of Minnesota and earned a BSEE there.

Rashid is a serial entrepreneur who has founded four companies so far. He left Chegg in 2010 to start his current gig as CEO at Kno which he also founded along with fellow Pakistani-American Babur Habib. Habib has a BSEE from University of Minnesota, MS from Stanford and Ph.D. from Princeton. He serves as CTO at Kno. The Silicon Valley based compan…