Last update: Mon, 08 Feb 2016 09pm

BR Research: All


The home remittance numbers for December 2015 are out and there is not much you can read from a months number. Home remittances at $1.6 for December 2015 stayed flat year-on-year, taking the cumulative six month figure growth down a bit. The 1HFY16 remittance year-on-year growth has come down to a much modest 6.2 percent - from the highs of 18 percent in the same period last year.
Midway through 2015, global market pundits had been eyeing on European stocks for a recovery while many experts also foretold of a reversal in oil prices in the New Year. However, 2016 began with a fresh nose dive for oil prices and a downhill barrel roll for all major equity markets across the world.
Lower international crude oil prices, controlled retail prices, thriving auto sales and improved macros set the background for the petroleum consumption in the country in 2015. With the data for December 2015 by OCAC, consumption of major petroleum products witnessed volumetric growth n CY15 - in tandem with imports.
The Saudi deputy crown prince, Muhammad bin Salman in a recent interview with The Economist, made a statement about the possible Initial public offering of Saudi Aramco, caught the global finance by storm. On Friday last week, Saudi Aramco confirmed in a statement and said it has been studying various options to allow broad public participation in its equity through the listing in the capital markets of an appropriate percentage of the Companys shares and/or the listing of a bundle of its downstream subsidiaries.
Don't be fooled by lower sales in December, buyers are busily driving out cars from dealerships for past couple of years and the trend is expected to resume when Pakistan Automotive Manufacturers Association (PAMA) reports its monthly sales report for January. The last month of 2015 however, was slow, in accordance with the historical trend. Buyers mulling over the purchase decision at the end of the year, generally prefer to defer the purchase to the next year, thereby securing a 2016 registration.
Who would have thought that Sindh Revenue Board (SRB) would become the biggest revenue spinner of Sindh province?
Modi's Pakistan visit last month was extraordinary. But so were the apprehensions about a spectacular cross-border attack disrupting the nascent bonhomie once more. Such has been the conditioning for this bilateral: after the 1999 Lahore Declaration, there was Kargil; after the 2007-08 thaw, there was Mumbai; after Ufa last year, there was Gurdaspur; and now, after Raiwind, there is Pathankot.