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Lately, the cement sector has been surrounded by a mix of positives and negatives. Yet, the sector managed to land in green during the quarter ended September 2014.
Sudden imposition of moratorium on KASB Bank by the federal government on the application of SBP is not deemed as a prudent step by market pundits as it can dampen the depositors confidence on other ailing small banks and hinder the process of selling the bank.
Traditionally a store of value, gold has been a safe haven for savers and investors. But what happens when the prices keep going south? Gold producers and investors alike are becoming uneasy as the global gold prices continue to tumble in the face of the strengthening US dollar.
It may not well be all rosy at the top, but as they say, all is well that ends well. And it certainly did end well for Honda Atlas Cars (Pakistan) Ltd (HCAR) for the six months ended September 2014. Despite a sizeable drop in revenues, HCAR still managed to post a mammoth growth in profits. The half year pre-tax profits went up by three times year-on-year, whereas 2Q pretax profits jacked up by over 7 times year-on-year.
Finance Minister Ishaq Dar seems to be the ‘go-to’ man for the Prime Minister, as Dar, fresh from a successful stint with the IMF has now been handed another responsibility. The government has formed yet another ministerial committee to look into matters of gas allocation to textile units, especially in Punjab during the winters.
Remittance inflows in October 2014 fell about 19 percent month-on-month. But that shouldn’t be termed as a dampener, for, as this column mentioned in its commentary last month, remittance inflows usually drop in the Gregorian month immediately following the month in which Eid-ul-Azha falls. To that end, this month-on-month decline was much expected.
For Pak-Afghan trade, another round of hope and promise has begun. After realizing that the earlier $5 billion target of total bilateral trade by 2015 would likely be missed, the finance ministers of the two countries have agreed “on concerted efforts for enhancing bilateral trade from the existing $2.5 billion to $5 billion in the next two to three years. However, given the problems at hand and the political inertia these targets seem to be too ambitious by the two brotherly countries.

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln