Last update: Wed, 27 Jul 2016 10am

BR Research: All


While the delay in IMFs fourth review has less to with the governments delaying the earlier agreed upon power tariff increase, it may well have a bearing on the final outcome. In pure economic sense, increasing the power tariff is direly needed. It is because the cost of generation continues to be higher than the units sold. And also, the circular debt has continued to mount despite some efforts.
Export receipts for 2MFY15 slid by about $460 million year-on-year. That may be negative, but not necessarily disconcerting. What is confusing, instead, is the reason behind that decline.
“Dear customer, to maintain service standard, weekly Sms bundles will remain unavailable from 5 to 7 October. Thank you.” Warid sent out that message few days ago to its prepaid subscribers who are using weekly Sms bundles (the message has been translated here from Urdu).
Analysts are considered no less than the ‘emperors’ of the stock markets. And why not! Their verdict can either push the stocks through the skies, or spirally downwards. But have you ever wondered if these forecasts are really accurate enough? And when and how can abnormal returns be reaped-based on these estimates!
The season of dharnas is getting longer. Political rivals are competing on-air and off-air, online and offline. But the same cannot be said of Pakistan’s economic competitiveness, which remains abysmal in the global comity of nations (see BR Research column Pakistan’s Competitiveness-–any better, dated September 8, 2014).
Initial public offerings are back in the headlines and that too with a bang. Stock exchanges round the globe have been tied up with overflowing number of public listings. Some global business groups have even regarded 2014 as the busiest year for book runners, financial advisors and lead managers since 1999-2000 era of the dot-com bubble.
When the GSP+ award was pronounced at the beginning of this year, Nishat Chunian Limited’s (KSE: NCL) expansion into European markets was expected to see its sales mix combine a larger share of value-added home-bedding and textile apparel taking on the revenues in a huge way. But, things appear to have gotten a little off-track for the firm as it has registered a considerable year-on-year slippage in earnings of about 67 percent in FY14.