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By the time China's had closed its Singles' Day shopping deals on November 11; Chinese consumers had ordered nearly $15 billion from the online merchant - a global record. One marvels at the ability of Alibaba's web masters and its supply-chain handlers to manage that kind of traffic. Now, later this month, leading Pakistani online retailer,, will mark "Black Friday", offering the "biggest sale of the year." It would be interesting to see local shoppers? response.
While the domestic market awaits the launch of the new Civic, HCAR has unveiled its financial performance for the first half of marketing year 2016. Although the reported bottom line falls short of the market?s expectations, the growth in earnings in 2QMY16 is anything but disappointing at 24 percent, compared to the same period of MY15.
Lets start with inflation. Twelve months CPI moving average is down to 2.7 percent and trimmed core inflation dipped to 3.7 percent while the headline inflation was 1.6 percent and trimmed core was 2.8 percent in October. The full year inflation (FY16) is likely to hover around 4 percent while the SBPs target interest rate is at 6 percent and the discount rate is at 6.5 percent.
The current account is seemingly back to normalcy, having enjoyed the sizeable CSF flows last month that took the balance to the positive territory. October numbers are here and while there is hardly a surprise, you cannot draw much heart from it. The current account deficit of $416 million in October is so far the highest monthly number for FY16.
Last month, this column wrote about the lowered cotton production for 2015-16 (Read "Cotton outlook bleak, Indian yarn in," Published on October 14, 2015). Now, it seems the target has been lowered once again.
Did members of the National Assembly and Provincial Assembly bring any improvement in their constituencies since their election in 2013? This is what Alif Ailaan has tried to gauge through its two recently published report cards.
The Finance Ministry just managed to restrict the growth of the consolidated fiscal deficit but it could not contain it to the permissible limits. The deficit declined by three percent YoY in 1QFY16 to Rs328 billion which is off by 11 percent from the IMFs target of Rs294 billion - almost equal to the provincial deficit (Rs29 billion). The target was too unrealistic and the provinces did not post surpluses; so it was missed.


Index Closing Chg%
Arrow DJIA 17,888.35 0.95
Arrow Nasdaq 5,156.31 0.93
Arrow S&P 2,102.63 1.07
Arrow FTSE 6,395.65 0.62
Arrow DAX 11,261.24 1.06
Arrow CAC-40 4,914.53 0.87
Arrow Nikkei 20,012.40 1.34
Arrow H.Seng 22,381.35 1.75
Arrow Sensex 26,169.41 0.09

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 30, 2015
Reserves $19.828 bln