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Usually, things start gaining pace during the last quarter where firms become more ambitious to accomplish their year-end targets. And the fourth quarter of FY14 was the same for the oil and gas Exploration and Production (E&P) sector.
August 2014 has simply been nailed down as a tormenting month in the countrys history. Inflaming political frenzy ended up taking a heavy toll on the economy. The stock market, particularly, lost more than 1,700 points alone last month. Accordingly, for investors taking indirect exposure in equity market through mutual funds, the situation turned out to be even more daunting.
With local cement sales reaching record heights in FY14, there is mostly positive news coming from the sector. Registering record earnings, Lucky Cements (KSE: LUCK) annual results testify to the positive developments for the sector through the year.
At last there is news to bring smile on a few faces. Inflation has nosedived to a 14-month low at 6.99 percent during August. Thanks to the high-base effect in the heavyweight non-perishable food items and a fall in perishable sub-index, it resulted in food inflation to restrict at 4.65 percent (YoY) last month.
Principles of corporate governance do not exactly apply on political parties. But, it is increasingly becoming evident that it wouldn't hurt if political parties in Pakistan were to take a leaf or two from the corporate governance framework. It will probably be good for their image, and, well, possibly for their survival, too.
Its not looking good for WorldCall Telecom (KSE: WTL). The Lahore-based telephony and broadband firm had recorded a whopping net loss of Rs2.3 billion last year (CY13). Now, it has closed the half year ending June 2014 with another net loss, of Rs818 million.
The recent taking over of Lafarge by Bestway Cement (KSE: BWCL) seems to make more sense in the light of the latters financials. Indeed, the company's margins have shown significant strides, with net earnings showing an impressive 35 percent increase. The company has also announced a dividend of Rs2.5 per share for the year end.

 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln