Marking the half-year milestone with a stellar financial performance, Pak Suzuki is on a high like never before. Keeping abreast with the local automobile industry which signed off on an impressive 22 percent year-on-year growth, PSMC has maintained its position as the leader of the pack, reporting a spectacular bottom line of Rs1.3 billion at the end of 2QFY12.
Depreciation of the local currency worsened the precarious current account situation in the first month of FY13. Data released by the central bank show imports were down in July, compared to last year by 0.73 percent in dollar terms. However the same gap stretched to 8.9 percent in rupee terms.
The largest amongst the mid-sized commercial banks, Bank Alfalah Limited (BAFL), announced its CY12 half-yearly financial results on Thursday, registering an expected, yet impressive, 22 percent year-on-year growth in profitability.
Federal government resisted the urge to slash the PSDP allocations last fiscal year; yet there was still a major shortfall in actual disbursements. By the close of FY12, the Planning & Development Division had yet to release Rs58 billion against its mandated PSDP funding limit of Rs228.4 billion.
Stock markets across the West exuded confidence last week. On Thursday, the S&P 500 climbed to a fresh four-month high, the Dow Jones Industrial Average sat pretty above the psychological benchmark of 13,000 and stock markets across the Euro zone were testing 12-month highs.
Crushed by the hazy global economy, the investors have been mystified lately over the precious metal which has been in a limbo.
According to the latest report issued by the World Gold Council, gold demand for 2QCY12 plummeted by seven percent YoY, largely driven by a fall in jewelry demand of 15 percent YoY India and some softening in China. Also, the investment component knocked down the overall demand.