HBL’s 2015 annual report cover said, “A legacy built for the future”. And legacy was surely built yesterday, when the country’s largest commercial bank, proudly became the first Pakistani bank to receive a license to set up a branch in China. HBL has also become the first South Asian bank to receive the permission of setting branch operations in Urumqi.
Findings from a latest Quality of Service (QoS) survey confirmed what many in the twin cities have come to experience: Zong is providing far better mobile broadband speeds than other operators. This is according to brief findings released by the Pakistan Telecommunications Authority in its recent QoS survey done in Islamabad, Peshawar, and Rawalpindi. The survey is reportedly in progress in other cities.
All time low interest rates are sure to have an impact on most banks? top line this season, and Habib Metropolitan Bank (HMB) has felt the pinch too. The balance sheet has been growing alright, but low interest rates ensured the yields remained thin, hence a drop in top line growth.
Thomas Piketty recently asked a very valid question: “How should we interpret the incredible success of the ‘socialist’ Bernie Sanders in the American Primaries?’” He is not alone in asking this question. There is no doubt that the rise of Donald Trump to the top of the Republican primaries is impressive and has captured the media’s attention from the start of the campaign season. However, Trump has also obscured more the meaningful story of Sanders, who has not only given a serious challenge to Hillary Clinton, but who also has perhaps changed the future of the Democratic Party for many decades to come.
If the sector roundup by the country’s leading property portal is anything to go by, the country’s real estate market fared well in 1QFY16; Zameen.com’s market report for the first quarter of FY16 illustrates a largely positive first quarter for Pakistan’s real estate sector.
Low interest rates were always going to compel banks to start lending more than they have been accustomed to in the last two years. Not that the ADRs have taken a drastic shift, but a shift nonetheless, can be seen coming. Bank Al-Habib (BAHL) announced the 1QCY16 results yesterday, kick-starting the banking results season. The mid-tier bank reported a massive 58 percent year-on-year growth in profits for the period.
Compared to last year, Pakistan's telecom giant has started off this calendar year on an upbeat note. As per first quarter results (ending March 31, 2016) announced to the KSE by Pakistan Telecommunications Co. Limited (KSE: PTC), the PTCL Group had accumulated net profits nearly 2.5 times the level seen in 1QCY15. All thanks to visible decline in core costs and operating expenditures, besides some friendly non-operating elements!