When Salma Jafri walked away from a promising career to take care of her baby, she knew she hadn’t given up on professional development, but wondered if she would get back in the ‘corporate race’. “I picked up a gig to develop marketing content for a company through an online freelancing platform and discovered the world of online marketing”, Salma told a roomful of people at a discussion organized by Intel Pakistan about, “Closing the gender technology gap”. Today she is thriving as a Google Business Groups team lead and content marketing consultant.
Foreign selling, a big Fund winding up, mutual funds selling, SECP notices and much more. This is what the market makers have told us of late, when asked about plausible reasons behind the current market slide. All of it could be true. But attractive earnings multiples, Pakistan’s improving economic indicators, higher investor confidence will soon be among reasons when the market starts picking up. And that could be very soon – as soon as the ongoing ICC Cricket World Cup comes to an end.
Is foreign selling on local course troubling you? Don’t panic, some good vibes seem to be in the wind! While few foreign funds including Everest Capital are pulling out their funds from Pakistan, Duet Mena Limited - a UAE based private equity and hedge fund manager - is betting on Pakistan as an ‘attractive opportunity’!
In its annual flagship report titled “Asian Development Outlook,” the ADP said that Pakistan’s GDP grew by 4.1 percent in FY14, and it is poised to grow by 4.2 percent and 4.6 percent in FY15 and FY16, respectively. The ADB report largely attributed the growth achieved in FY14 to a revival in construction and growth in manufacturing.
Greenback-traded commodities – in particular, gold – have been on the up recently. This has been largely due to a weaker dollar, which plummeted last Wednesday as the US Federal Reserve hinted that an interest rate hike might come later rather than sooner. Yesterday, gold closed up for the fourth consecutive session in a row.
Someone is putting their money to good use. Last week, the country’s largest bank by assets, Habib Bank Limited (HBL), announced that it was looking to acquire “significant shareholding” in First Microfinance Bank Limited (FMBL). Following SBP’s approval, HBL has been conducting necessary due diligence. This follows HBL’s ongoing quest to absorb Barclays Pakistan’s operations.
A number of interesting things have lately been happening in Pakistan’s food industry. Following the food-isation of Pakistan with giants like Nestle, Unilever Pakistan Foods, Engro Foods and others raising their stakes in the country’s food economy, the Fauji group is gearing up to join the bandwagon.