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International Steels Limited (ISL) announced its 9M FY14 results yesterday boasting an almost five-fold increase in the bottom line.
What was largely anticipated has finally happened! Recall that April 14 was the last date to submit sealed bid offers for mobile spectrum auction for 3G/4G services. PTA has made it public now that it received four bids. No bids were received from potential new entrants. All four bids are from existing operators. As expected, Warid Telecom did not bid.
Better take a cue from the not-so-famous Nigeria, a usual companion of Pakistan on many socio-economic indicators. The two countries have had some common problems in the power sector as well: gas shortage and vandalism of pipelines.
If technology is the name of the game, then the banking sector deserves a pat on the back for maintaining an increasing growth trend.
Some might say along the lines: "It is better to have loved and lost, than never to have loved at all." That is, better to have GSP+ than not have it at all. While acquiring GSP+ is being touted as the game changer for Pakistans textile industry, the first quarter export performance lends some credence to the hype!
MCB has recently released the second installment of its bimonthly Purchasing Manager Index (PMI). A good gauge for the manufacturing sector activity, the PMI for March showed a healthy reading, albeit a slightly lower than in January, the first time this exercise took place. M. Ramzan, MCBs Group Head, Treasury and Forex told BR Research that manufacturing activity has been almost the same and positive as January.
Error! Not a valid link. Khawaja Asif is in the news these days, not for any heroics for the ministry he is looking after. Had it not been for these headlines, he surely would have made the headlines for a much more important issue in the country. The Water and Power Minster is smarter than a few of his predecessors, not least the media-delight, now ex-Prime Minister, Raja Pervaiz--in the sense that he does not often make tall claims.


Index Closing Chg%
Arrow DJIA 16,408.54 0.10
Arrow Nasdaq 4,095.52 0.23
Arrow S&P 1,864.85 0.14
Arrow FTSE 6,625.25 0.62
Arrow DAX 9,409.71 0.99
Arrow CAC-40 4,431.81 0.59
Arrow Nikkei 14,417.53 0.01
Arrow H.Seng 22,760.24 0.28
Arrow Sensex 22,628.84 1.58

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln