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Would 2015 be the year telecom authorities turn towards much-needed rural ICT development? An agency for that purpose is certainly available: Universal Service Fund (USF) Company, which embodies the spirit of public-private partnership. USF was created in 2007, under a USF Policy, to help deploy telecom infrastructure in areas where it would be commercially infeasible for operators to go on their own.
Just ahead of Davos gathering, the World Economic Forum (WEF) published its tenth annual Global Risk Report for 2015, which consists of a yearly survey about the world’s most critical issues from nearly 900 leaders in politics, business, and economy.
For political and business leaders, Davos is the place to be at right now. But Pakistan's Prime Minister has cancelled his sojourn to the World Economic Forum's annual meeting currently being held there. Reportedly, the now-receding but still-fresh petrol crisis has forced this cancellation.
Take a minute, and think about the exploration and production companies in this sliding oil price scenario. The E & P sectors fortunes rise and fall with the oil prices. The oil and gas giants around the world have enjoyed years when crude oil was more or less stable. However, with the price of oil down more than 50 per cent since June 2014, gazes are now moving on how the crash in prices will play out among corporates in the oil and gas sector worldwide.
While the crude oil prices continue to spiral down, gold prices can be seen to defy its relationship with the commodity. The simple economics behind oil-gold relationship is that the price of crude oil affects inflation; any increases in the crude oils price will result in increased petroleum product prices, which in turn push the cost of transport, and hence the price of goods - more commonly known as inflation and with inflation, the price of precious metal like gold tends to go up as well.
As expected, the latest Treasury bill auction saw yields coming down. They did not come down crashing, but fell more than expected. Recall that the previous treasury bill auction saw cut-off yields coming down by 35 bps and the latest auction resulted in a further 30 bps cut in yields for 12-month paper.
Interest rates are high, gas is short, security concerns are rife, the global economy is slowing down, commodity prices are falling… these are the most quoted reasons by media, analysts and policy makers alike, in their attempts to explain staggering exports of the country. One may wonder when all these issues are prevalent with most of them are hard to fix in short term, why on earth the exchange rate is not being used as an instrument to support export growth or simply to earn foreign exchange?


Index Closing Chg%
Arrow DJIA 17,387.21 1.65
Arrow Nasdaq 4,681.50 1.89
Arrow S&P 2,029.55 1.34
Arrow FTSE 6,811.61 0.60
Arrow DAX 10,628.58 1.57
Arrow CAC-40 4,624.21 1.09
Arrow Nikkei 17,768.30 1.72
Arrow H.Seng 24,807.28 0.41
Arrow Sensex 29,571.04 1.00

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln