According to data released by the Pakistan Automotive Manufac-turers Association on Monday, the last eleven months have shown an increase of 16 percent, with the sales of locally manufactured automobiles going up to 141,015 units 11MFY12 as compared to the121,455 that were sold during the same period of last year.
The Karachi Stock Exchange went abuzz with notices regarding ICI acquisition as Lucky Cement and Nishat Mills showed intent to carry out a due diligence process to evaluate and assess the viability of a potential acquisition of 75.81 percent of the issued and paid-up share capital of ICI Pakistan Limited.
The Pakistan Telecomm-unications Authority yesterday published the updated version of its Tariff Awareness Guide. The Guide contains essential information for telecom subscribers regarding applicable taxes and tariffs; informs them of their and the operators rights with regards to tariff packages, and conveys remedial measures should they feel the operator has not fulfilled its responsibility.
It seems Germany, not Saudi Arabia, holds the key to oil prices for the next 18 month, Goldman Sachs is not the only crude oil analyst that has let the reality sink to it. This tells that it is more than just the oil market fundamentals that dictate the global crude.
Pakistan has missed its wheat production target and the expectations of a bumper crop this season have not been materialised. The latest Economic Survey estimates wheats production during 2011-12 at 23.5 million tons, i.e., 6.7 percent below previous years figure of 25.21 million tons. The yield declined to 2,714 kg per hectare from a high of 2,833 kg per hectare in 2010-11.
Chinese stocks plunged on last Friday, capping their biggest weekly fall this year. The Peoples Bank of China slashed that countrys benchmark interest rate by 25 basis points to 6.31 percent effective Friday, along with a slash on the deposits rate bringing it to 3.25 percent. The rate cut has deepened concerns that growth in China is sputtering and in need for major stimulus.