Pundits at the stock market and Ministry of Finance are triumphant over the Moodys revised outlook on Pakistans foreign currency government bond as well as on the outlook of big five banks ratings. In both cases, the ratings remained same with the outlook changing from negative to stable.
Life comes full circle for the fertilizer companies. Once the blue eyed sector, it has been under some stress of late for one reason or another. The sole DAP fertilizer producer Fauji Fertilizer Bin Qasim (FBBL) is the first one to make public the woes of first half. The company has still made profits, and the 1H CY14 performance is by no means its lowest ebb, it has seen worse.
Maybe, its just another dream; maybe, its a reality! Reportedly, the government is once again pulling up its socks to introduce a new drug pricing policy. Having a reasonable pricing policy is indeed a much-needed but missing ingredient for the local pharmaceutical industry.
Continuing to enjoy its positive momentum, Atlas Honda Cars Ltd (HCAR) posted net earnings of Rs630 million for the first quarter ended June 30, 2014. Thats a whopping 92 percent increase compared with the corresponding period of last year. The company has also had a rewarding period, recording highest numbers in sales and margins. EPS for the period stood at Rs4.41 compared to Rs2.29 for the quarter last year.
Habib Bank Limited (HBL) surely did not miss the PIB bus: Pakistan Investment Bonds, that is. The local banking giant continued investing in PIBs and shying away from T-bills. The result was a shockingly good profit posted yesterday. There was not time enough to shock the market, as the result came in late hours.
Latest communication technologies are gradually making their way into Pakistan, but the country has a long summit to scale when it comes to putting them to productive use. That is the main reading from Pakistans ICT scorecard given in the recent Global Information Technology Report (GITR) 2014, the World Economic Forum's annual ICT publication.