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Foreign direct investment inflows slumped by 26 percent year-on-year in the quarter ending September 2014. And the critics are obviously having a ball. The drop to $169 million in the first quarter is indeed a partly sum – at a time when cross border emerging market investment flows and emerging to developing market flows are about their highest levels since the recession of 2007.
The development of social entrepreneurship since the last decade has steered social innovation and initiated sustainable and scalable solutions in numerous parts of the developing world. Social enterprise, a relatively alien notion in Pakistan, is quickly getting a foothold in many areas of development.
In August 2014, workers remittance had fallen about 20 percent month-on-month. However, BR Research's commentary on that was still headlined: "Remittances are alright". Well, this column is pleased to report that remittances are indeed alright, as September 2014 saw the highest-ever monthly inflow ($1.7 billion).
The Pakistan Telecommunication Company Limited (KSE: PTC) has seen better times recently. But the three-month period ended September 2014 doesn make the cut. A mix of indigenous and exogenous factors led the company to close the third quarter with a huge slump in profitability.
Another treasury-bill auction - another target missed. The story has repeated itself so often lately that it now fails to make news.
It is not hard to explain the relation between petroleum product sales and imports in Pakistan where majority of the consumption is import-driven. Among the major petroleum products, around 60 percent of furnace oil sales by the oil marketing companies are met through imports.
In thirteen years (2000-13) government had issued PIBs worth of Rs1,367 billion, while on the other hand in mere nine months of 2014, finance ministry has sold PIBs valuing Rs 2,143 billion. The additional cost of debt servicing to the federal budget of such a humongous switching from T-Bills to PIBs is Rs54 billion per annum (5% of total debt servicing).


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