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While the export stats for ready-made garments and other textiles have remained pre-dominantly flat the past year, the export of cotton yarn of Pakistani origin has picked up astronomically. Export data compiled by PBS for the month of September shows a volumetric increase of 45.8 percent for the sector, with the country exporting cotton yarn worth 201.6 million dollars during the last month alone.
The uncertainty in macroeconomic policies and lack of political constancy has spurred a momentous slowdown in global economic activity since 2009.
Such is the diversity in Engro Corporations business lines that you would do rather good to tell if two different profit and loss statements are from the same period under the same holding company. The giant conglomerate announced its rather disappointing yet expected 9MCY12 financial results yesterday, reporting a net loss, down from the highs of massive profit in the same period last year.
Pakistan Petroleum Limited drew the curtains to the first quarter of FY13 for the E&P companies. After an amazing FY12, the announcement of 1QFY13 results by the company concluded the period on a positive note. The top line of the exploration and production company gained eight percent year on year from a combination of prices and production flows.
Once badly stung in the previous political regime, Bank of Punjab under the renewed management is on damage control. Had it not been the support of Punjab government - the majority shareholder - and its injection of Rs10 billion into the bank, BoP would never have been able to raise its equity from a meager Rs2.9 billion to Rs10.1 billion by the end of 2011 in just a year.
Faysal Bank Limited (FABL) did what banks should do and ended up posting a near 13 percent year-on-year decline in profits for 9MCY12. FABL, in contrast to the recent industry trend, adopted the strategy of stepping on lending to the private sector, as evident by a sizeable 18 percent increase in advances over December end 2011.
The first quarter of a fiscal year has always been lean for Netsol Technologies Limited. This year, though, the three-month period ending September 30 concluded profitably, compared to a net loss last year, as per the KSE announcement. The maiden quarter lacked vigor nonetheless, given that revenues clocked in at Rs383 million when last fiscal years total revenue was Rs2.18 billion. Good luck catching up!


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln