Author: S. Kamal Hayder Kazmi

CREDIT/LOANS CLASSIFIED BY BORROWERS* (Million Rupees) Description June-15 Jan-16 June-16 Jan-17P 1. Credit to Government Sector (A+B) 7,265,070 7,449,482 8,109,581 8,439,279 A. SBP Credit to Government Sector (Net) 1,987,950 1,556,724 1,454,273 2,369,851 Investment in Govt. Securities 2,324,419 2,247,504 2,071,967 2,893,169 Loans to Government 8,035 2,740 2,740 2,740 Others 8,072 8,581 8,681 8,681 Less: Govt. Deposits 352,576 702,102 629,116 534,740 B. Scheduled Banks Credit to Government Sector (Net) 5,277,120 5,892,759 6,655,308 6,069,428 Investment in Govt. Securities 5,681,232 6,435,427 7,240,110 6,864,624 Loans to Government 581,328 513,710 650,448 555,628 Less: Govt. Deposits 985,440 1,056,377 1,235,250 1,350,824 2. Credit to Non Government Sector (A+B)…

[dropcap]B[/dropcap]ankIslami Pakistan Limited was structured in Pakistan as a public limited company on October 18, 2004 under the Companies Ordinance, 1984 to carry out the business of an Islamic Commercial Bank in accordance with the rules of Islamic Shariah. The State Bank of Pakistan (SBP) granted a ‘Scheduled Islamic Commercial Bank’ license to the Bank on March 18, 2005. BankIslami Pakistan started its operations as a Scheduled Islamic Commercial Bank with effect from April 07, 2006, on receiving Certificate of Commencement of Business from SBP under section 37 of the State Bank of Pakistan Act, 1956. The Bank is mainly…

[dropcap]U[/dropcap]nited Bank Limited (UBL) is the first commercial bank in Pakistan to provide its customers with state-of-the-art facilities enclosed within a cutting-edge modern design. Historically, by June 1960, shortly after six months of opening its doors to the public, UBL had branches in: Karachi, Dacca Lahore, Lyallpur, Chittagong and Narayanganj. In 1963, UBL became the first bank in Pakistan to have a branch overseas at William Street, London, United Kingdom. The first saving scheme for school going children was introduced as early as 1960 or the formation of Pakistan’s first Staff College of employees in 1964, UBL, through the motivation…

FTSE 100 HITS YET ANOTHER RECORD HIGH The index’s most recent climb was largely the result of a cautious US Federal Reserve and the outcome of elections in the Netherlands. The FTSE 100 eked out yet another all-time closing finish on Friday, building on its slew of recent records and indicating that its fierce rally over recent months is not yet running out of steam. This week’s climb was largely the result of a cautious US Federal Reserve combined with elections in the Netherlands that saw anti-EU candidate Geert Wilders garner fewer votes than expected. Late Wednesday the Fed lifted…

OIL PRICES SOAR AFTER DROP IN US STOCKPILES Crude oil prices rose on Thursday to extend gains from the previous session after official government data showed US stockpiles had eased from record highs. Prices surged on Wednesday after a slew of market reports and official data offered some hope that a near three-year global glut in oil is coming to an end, albeit more slowly than many have anticipated. The market was also buoyed after the Federal Reserve raised interest rates in line with expectations but did not signal any pick-up in the pace of further rises. US West Texas…

BALTIC INDEX UP FOR TENTH STRAIGHT SESSION ON HIGHER CAPESIZE RATES The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for a tenth straight session on Tuesday, helped by higher rates for capesize vessels. The overall index, which also factors in rates for panamax, supramax and handysize shipping vessels, ended up 13 points, or 1.18 percent, at 1,112 points. The capesize index gained 86 points, or 4.67 percent, to close at 1,929 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, raised $607 to $14,250,…

[dropcap]A[/dropcap] SOCIAL ECOLOGIST FOR ME THE TENSION BETWEEN THE NEED FOR CONTINUITY AND THE NEED FOR INNOVATION AND CHANGE WAS CENTRAL TO SOCIETY AND CIVILIZATION. I consider myself a “social ecologist,” concerned with man’s man-made environment the way the natural ecologist studies the biological environment. The term “social ecology” is my own coinage. But the discipline itself boasts and old and distinguished lineage. Its greatest document is Alexis de Tocqueville’s Democracy in America. But no one is as close to me in temperament, concepts, and approach as the mid-Victorian Englishman Walter Bagehot. Living (as I have) in an age of…

Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 3-Feb Friday 10-Feb Friday 17-Feb Friday 24-Feb Sat 4-Mar Friday 10-Mar DOLLAR Buying 107.9 107.45 107.35 107.3 107.2 106.35 Selling 108.2 107.75 107.65 107.6 107.5 106.65 POUND Buying 134.25 133.5 133.5 134 131 128.75 Selling 136 135.25 135.25 135.75 132.75 130.5 EURO Buying…

ECO SUMMIT PARTICIPANTS’ ECONOMIC INDICATORS Markets Last Reference Previous AFGHANISTAN Currency 66.63 Mar/17 66.74 GDP Last Reference Previous GDP Annual Growth Rate 2.1 % Dec/15 6.5 GDP 19.3 USD Billion Dec/15 20.05 GDP per capita 620 USD Dec/15 632 GDP per capita PPP 1808 USD Dec/15 1844 AZERBAIJAN Unemployment Rate 5 % Dec/15 4.9 Inflation Rate 11.9 % Jan/17 12.4 Interest Rate 15 % Feb/17 15 Balance of Trade 981353 USD Thousand Sep/16 1311894 Government Debt to GDP 28.3 % Dec/15 11.2 IRAN Currency 32420 Mar/17 32416 GDP Last Reference Previous GDP Annual Growth Rate 0.6 % Mar/15 3.7 GDP…

[dropcap]P[/dropcap]akistan and Turkey undoubtedly have a strategically important and economically lucrative relationship. While Turkey could become a bridge between Asia and Europe, Pakistan shares borders with two large, densely populated economies and could become a gateway to energy-rich Central Asia. However, given their trade structures and volumes, Pakistan needs Turkey more than the other way around. Pakistan’s trade expansion with Turkey promises substantial gains. Direct gains are an expected outcome, given the trade surplus and Turkey’s large, as yet untapped market. There are also strong indirect gains, given the opportunity for greater firm synergies, enabling long-term structural improvements that are…

[dropcap]P[/dropcap]akistan enjoys good relations with Iran since the partition of sub-continent. Both the states have successful deals regarding the dissimilar socio-economic fields. Relations between Pakistan and Iran have spanned since the common prehistoric Indo-Iranian heritage. Since 2000, the relations between each state have been normalized and economical and military collaboration has strengthened the relations ever since. Both states aim to grow yearly trade volumes between the 2 states to $5 billion by 2021. In the 5-year strategic action plan inked last year both states also have aimed at boosting their bilateral trade to the level of US Dollars 5 billion…

PAKISTAN STOCKS KEEP FALLING It was a tumultuous day at the bourse, with the index experiencing a rough ride and ultimately ending negative on the back of falling crude prices. At close, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index ended with a fall of 200.69 points or 0.41 percent to end at 49,191.75. Market expert said that equities closed the last day of the week lower in a dull trading session where benchmark KSE100 Index traded a band of little over 400 points. Despite Thursday’s healthy foreign buying and positive news of stock brokers receiving Pakistan Stock Exchange…

OIL PRICES SPRING BACK Oil prices climbed on Thursday after sharp losses the session before, buoyed by strong compliance with touted international production cuts, although a surge in US crude inventories continued to drag. The Organization of the Petroleum Exporting Countries (OPEC) and other oil producers reached an agreement last year to cut output by almost 1.8 million barrels per day (bpd) in the first half of 2017, with investors paying close attention to levels of compliance with the landmark deal. Kuwait’s oil minister said on Wednesday that OPEC’s compliance with the cuts had exceeded targets, standing at 140 percent…

CAPESIZES HEADED FOR SCRAP DESPITE MARKET REBOUND In what could only be described as a more than positive omen for the future prospects of the dry bulk market, dry bulk carriers and more notably Capesizes are still being sold to scrapyards, even if the number of vessels offered has declined over the past few weeks. According to the world’s leading cash buyer, GMS, a total of 13 Capes have been sold for scrap so far in 2017, as buyers are willing to pay more money, thus making it an easier decision for some ship owners, in the midst of a…

[dropcap]F[/dropcap]EEDBACK: KEY TO CONTINUOUS LEARNING TO KNOW ONE’S STRENGTHS, TO KNOW HOW TO IMPROVE THEM, AND TO KNOW WHAT ONE CANNOT DO – ARE THE KEYS TO CONTINUOUS LEARNING. Whenever a Jesuit priest or a Calvinist pastor does anything of significance (for instance, making a key decision), he is expected to write down what results he anticipates. Nine months later, he then feeds back from the actual results to these anticipations. This very soon shows him what he did well and what his strengths are. It also shows him what he has to learn and what habits he has to…

Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 27-Jan Friday 3-Feb Friday 10-Feb Friday 17-Feb Friday 24-Feb Saturday 4-Mar DOLLAR Buying 107.6 107.9 107.45 107.35 107.3 107.2 Selling 107.9 108.2 107.75 107.65 107.6 107.5 POUND Buying 134.5 134.25 133.5 133.5 134 131 Selling 136.25 136 135.25 135.25 135.75 132.75 EURO Buying…

FDI INFLOWS IN CONSTRUCTION SECTOR IN PAKISTAN ($ Million) Sectors 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 (Jul-Jan) Construction 101.6 61.1 72.1 46 28.8 53.5 36.3 119.6 Source: GoP [divider style=”normal” top=”20″ bottom=”20″] COMPOSITION OF INDUSTRIAL SECTOR (%) DETAILS 2000-01 2015-16 Manufacturing 66.0 64.7 Electricity and Gas Distribution 13.9 8.8 Construction 10.2 12.3 Mining & Quarrying 9.9 14.2 Source: GoP [divider style=”normal” top=”20″ bottom=”20″] AVERAGE HOUSEHOLD SIZE IN PAKISTAN AREA 2011-12 2013-14 Total 6.41 6.35 Urban 6.22 6.09 Rural 6.51 6.49 Source: HIES [divider style=”normal” top=”20″ bottom=”20″] DEMOGRAPHIC INDICATORS OF PAKISTAN DETAILS 2016 Total Population (Million) 195.4 Urban Population (Million)…

[dropcap]DGKCC’s[/dropcap] products are preferred on projects of national repute both domestically and globally due to the un-parallel and consistent quality. DGKCC production processes are environment-friendly and comply with the World Bank’s environmental standards. The company has announced financial highlights of half yearly FY2017. Over the current first half industrial cement dispatches increased by about 11 percent on local front and dropped by about 4 percent on exports side in comparison with comparable 6 monthly statistics. This produced an entire growth of about 9 percent. Industrial dispatch utilization for 6 months stayed at about 87 percent. Almost 74 percent is used…

[dropcap]Y[/dropcap]ear 2016 was predicted to be a very promising one for Pakistan’s real estate industry with good reason. During 2015, investment in residential property (flats, houses & vacant plots) rose by 5 to 7 percent, while in commercial property (counting standalone shops, showrooms, retail and office space), there was a rise of 15 to 20 percent across the country, despite the levy of capital gains tax, capital value tax and stamp duties in the Federal Budget FY2015. Industry adepts were confident that investment will continue to rise during 2016 due to increased investor interest and consumer confidence in the property…

PAKISTAN INDEX SHEDS 72 POINTS Pakistan stocks, after two strong bullish sessions, ended in red at the weekend due to institutional profit-taking, consequently benchmark KSE-100 closed 72 points down or 0.15 percent at 49,623 level. Institutional profit taking witnessed at PSX amid consolidation post major earning announcements. Weak sentiments remained in the trading session on renewed concerns for foreign outflows, surging circular debt in the energy sector and dismal payouts in the earnings season. Overall, volumes declined by 1.5 percent to 392 million shares, while value declined by 2.8 percent Rs 17.2 billion/ $163 million. On the volume leaders’ chart…

GOLD INVESTORS GET A WAKE UP CALL AS US RATE-HIKE ODDS SURGE Gold investors are waking up to the reality of an increasing probability that borrowing costs in the US could rise this month. Bullion futures fell for a second day as the odds that the Federal Reserve will boost interest rates this month jumped to 80 percent on Wednesday, from 52 percent a day earlier and 34 percent last week. Higher rates curb the investment appeal of non-interest bearing gold, while boosting the dollar. Gold, which rallied more than 8 percent this year, has been thrown into reverse amid…

BALTIC INDEX INCHES HIGHER The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, edged up on Wednesday as panamax vessel rates rose to a more than two-month high. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 12 points, or 1.4 percent, at 871 points. The panamax index was up 46 points, or 4.62 percent, at 1,041 points, the highest level since Jan. 13. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tones, added $370 at $8,366…

[dropcap]M[/dropcap]ANAGING ONESELF: REVOLUTION IN SOCIETY MANAGING ONESELF IS BASED ON THESE REALITIES: WORKERS ARE LIKELY TO OUTLIVE ORGANIZATIONS, AND THE KNOWLEDGE WORKER HAS MOBILITY. Managing oneself is a REVOLUTION in human affairs. It requires new and unprecedented things from the individual, and especially from the knowledge worker. For, in effect, it demands that each knowledge worker think and behave as a chief executive officer. It also requires an almost 180-degree change in the knowledge workers’ thoughts and actions from what most of us still take for granted as the way to think and the way to act. The shift from…

Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 20-Jan Friday 27-Jan Friday 3-Feb Friday 10-Feb Friday 17-Feb Friday 24-Feb DOLLAR Buying 107.8 107.6 107.9 107.45 107.35 107.3 Selling 108.1 107.9 108.2 107.75 107.65 107.6 POUND Buying 132 134.5 134.25 133.5 133.5 134 Selling 133.75 136.25 136 135.25 135.25 135.75 EURO Buying…

NATIONAL MEDICAL AND HEALTH ESTABLISHMENTS, PROGRESSIVE Year Hospitals Dispensaries BHUs Sub Health Centres Maternity & Child Health Centres Rural Health Centres TB Centres Total Bed Population per Beds 2000 876 4,635 5,171 856 531 274 93,907 1,456 2001 907 4,625 5,230 879 541 272 97,945 1,427 2002 906 4,590 5,308 862 550 285 98,264 1,454 2003 906 4,554 5,290 907 552 289 98,684 1,479 2004 916 4,582 5,301 906 552 289 99,908 1,492 2005 919 4,632 5,334 907 556 289 101,490 1,483 2006 924 4,712 5,336 906 560 288 102,073 1,508 2007 945 4,755 5,349 903 562 290 103,285 1,544…

[dropcap]T[/dropcap]he Dow University of Health Sciences (DUHS) officially came into existence during 2004. The vision at Dow University of Health Sciences is to be an academic leader through generating creative, collaborative, contextual resources to enhance health by all possible means. The vision and mission, initially planned to be completed in 16 years have already been attained in 12 years, having foreign standards, as all major institutions and departments have already been ISO certified with ISO 9001-2008 through Vincotte International, Brussels. More than 60 new establishments counting separate institutes and departments have been made to attain the vision, mission and targets.…

[dropcap]T[/dropcap]he Hamdard College of Medicine & Dentistry (HCM&D) enjoys a high-ranking amongst the medical institutions of Pakistan. Its Faculty of Health & Medical Sciences provides undergraduate and postgraduate programs – Bachelor of Medicine and Bachelor of Surgery (MBBS); Bachelor of Dental Surgery (BDS); FCPS Part-II training in Surgery Obstetrics & Gynaecology and Operative Dentistry under recognized supervisors — M.Phil and Ph.D scholars. HCM&D provides a congenial environment for students to develop confidence and give rise to highly competent medical practitioners, ready to meet the challenges and rewards of medical practice in the country. HCM&D is proud of its graduates for…

WALL STREET PAUSES ALL-TIME HIGH RALLY Wall Street opened lower Friday, taking a break from the steady rally of the past three weeks, amid a generally cautious move in global markets. Twenty minutes into trading, the Dow Jones Industrial Average gave up 0.2 percent to 20,762.46, after closing Thursday at an all-time high for the 10th consecutive session, breaking a 30-year record. The broader S&P 500 lost 0.35 percent to 2,355.44, while the tech-rich Nasdaq was down 0.38 to 5,813.40. Among the few negative factors on Friday, observers cited a decline in oil prices, persistent political uncertainties in Europe, and…

OIL PRICES RISE AFTER DROP IN US INVENTORIES Oil prices rose on Thursday after US data showed a surprise decline in inventories, suggesting that a global glut may be ending after moves by OPEC to cut production. Benchmark Brent crude oil LCOc1 was up 70 cents a barrel at $56.54, recovering from a drop of 82 cents on Wednesday. US light crude CLc1 was 70 cents higher at $54.29 a barrel. Both benchmarks are near the top of relatively narrow $4 ranges that have contained trade so far this year, reflecting a period of low volatility since the Organization of…

HIGHER SHIPPING RATES PUSH BALTIC INDEX UP The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday due to strengthening rates across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 28 points, or 3.6 percent, at 806 points. The capesize index gained 95 points, or 11.1 percent, to close at 951 points. Average daily earnings for capesizes, which typically transport 150,000-tone cargoes such as iron ore and coal, were up $700 to $7,708. The panamax index broke a six-session losing…

[dropcap]S[/dropcap]OCIETY OF PERFORMING ORGANIZATION “BY THEIR FRUITS YE SHALL KNOW THEM.” Society in all developed countries has become a society of organizations in which most, if not all, social tasks are being done in and by an organization. Organizations do not exist for their own sake. They are means: each society’s organ for the discharge of one social task. The organization’s goal is a specific contribution to individual and society. The test of its performance, unlike that of a biological organism, therefore, always lies outside itself. This means that we must know what “performance” means for this or that institution.…

Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 13-Jan Friday 20-Jan Friday 27-Jan Friday 3-Feb Friday 10-Feb Friday 17-Feb DOLLAR Buying 108.4 107.8 107.6 107.9 107.45 107.35 Selling 108.7 108.1 107.9 108.2 107.75 107.65 POUND Buying 131.25 132 134.5 134.25 133.5 133.5 Selling 133 133.75 136.25 136 135.25 135.25 EURO Buying…

MUTUAL FUNDS (Rs. in million) Description March 31, 2016 June 30, 2015 Total Assets under Management of Industry 510,909 492,239 Total Number of Funds 170 168 Total number of plans under mutual funds 21 5 Total Number of AMCs/IAs 25 25 Asset Size of AMCs/IAs 35,576 31,916 Discretionary/Non-discretionary portfolio 112,944 96,609 [divider style=”normal” top=”20″ bottom=”20″] TOP BROKERS IN PAKISTAN AKD Securities Limited Arif Habib Limited Taurus Securities Limited BIPL Securities JS Global Standard Capital Securities Limited IGI Securities Limited Next Capital Darson Securities Limited Topline Securities Limited [divider style=”normal” top=”20″ bottom=”20″] NON-BANKING FINANCIAL SERVICES (Rs in million) Particulars March 31, 2016 June…

[dropcap]A[/dropcap]s the largest private sector asset management and investment advisory firm operating in Pakistan, Al Meezan Investment Management Limited (Al Meezan) aims is to innovate and consistently perform, thereby facilitating financiers in achieving their financial objectives in a Shariah-compliant manner. With assets under management of Rs103.27 billion (as on December 31, 2016), Al Meezan offers a diverse range of Shariah-compliant investment solutions ranging from equity, asset allocation, fixed income, money market, balanced, capital preservation, fund of fund, commodity and voluntary pension schemes. Al Meezan showed the achievement of another milestone of Assets under Management (AUMs) of over Rs10,000 crore (as…

[dropcap]A[/dropcap]lfalah GHP Investment Management Limited (AGIML) is the mutual fund company that creates customers value. Alfalah GHP provides investment solutions to cater to the requirements of all customers’ investment needs. The company was incorporated on October 18, 2004 as an unlisted public limited company and is licensed by SECP (Securities and Exchange Commission of Pakistan) to manage open-ended mutual funds and offer investment advisory services. AGIML is also the member of MUFAP. The company was organized as joint venture Non-Banking Finance Company by Bank Alfalah Limited and GHP Arbitrium. Recently, GHP Arbitrium Ltd has transferred its shareholding to GHP Beteiligungen…

US SHARES RETREAT AS KRAFT HEINZ, UNILEVER SURGE Wall Street stocks declined early Friday despite news of Kraft Heinz’s rejected takeover bid for Dutch-British giant Unilever that boosted shares of both firms. The market’s downward move marked the second sluggish day after a five-day streak of records sparked by hopes for a major tax cut prompted by President Trump’s comments last week. Nearly 90 minutes into trading, the Dow Jones Industrial Average was at 20,558.75, down 0.3 percent. The broad-based S&P 500 lost 0.2 percent at 2,342.45, while the tech-rich Nasdaq Composite Index was down less than 0.1 percent 5,814.47.…

GOLD CLOSES UP AFTER CHOPPY TRADING SESSION Gold prices ended a choppy, two-sided trading session on the upside Wednesday. The yellow metal scored a two-week low earlier in the day after weaker US dollar index trumped some upbeat US economic data that increased the odds of a US interest rate hike coming soon. April Comex gold was last up $7.10 an ounce at $1,232.70. March Comex silver was last up $0.076 at $17.965 an ounce. It is said that US retail sales for January come in at a better-than-expected up 0.4 percent. The consensus was for a rise of 0.1…

SHANGHAI PORT STARTS 2017 WITH A 12PC SURGE China’s busiest port, Shanghai, handled 3.3 million TEU in January, a 12.2 percent increase compared to the container throughput in the same month last year, when volume totaled 2.94 million TEU. Last year, Shanghai retained its crown as the world’s busiest container port, handling 37.13 million TEU, up 1.6 percent from 36.54 million TEU registered in 2015. [divider style=”normal” top=”20″ bottom=”20″] NEWBUILDING ORDERS PICK UP Newbuilding contracting activity thus far in 2017 has been much more brisk than during the same period of 2016, as shipyards’ pricing has been much more aggressive,…

[dropcap]T[/dropcap]HE FUNCTION OF MANAGEMENT IS TO PRODUCE RESULTS ABOVE ALL MANAGEMENT IS RESPONSIBLE FOR PRODUCING RESULTS. Management has to give direction to the institution it manages. It has to think through the institution’s mission, has to set its objectives, and has to organize resources for the results the institution has to contribute. Management is, indeed, J.B. Say’s “entrepreneur” and responsible for directing vision and resources toward greatest results and contributions. In performing these essential functions, management everywhere faces the same problems. It has to organize work for productivity; it has to lead the worker toward productivity and achievement. It is…

Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 6-Jan Friday 13-Jan Friday 20-Jan Friday 27-Jan Friday 3-Feb Friday 10-Feb DOLLAR Buying 108.35 108.4 107.8 107.6 107.9 107.45 Selling 108.65 108.7 108.1 107.9 108.2 107.75 POUND Buying 132.75 131.25 132 134.5 134.25 133.5 Selling 134.5 133 133.75 136.25 136 135.25 EURO Buying…

ELECTRICITY GENERATION IN PAKISTAN (July-march) Year Electricity Electricity Imported (Gwh) Hydroelectric (hydel) Thermal Nuclear Installed capacity (MW) Generation (Gwh) Installed capacity (MW) Generation (Gwh) Installed capacity (MW) Generation (Gwh) Installed capacity (MW) Generation (Gwh) 2014 23,048 73,435 6,858 23,953 15440 44,847 750 4,331 304 2015 23,212 71,712 7,027 23,478 15,435 43,611 750 4,273 350 2016 23,101 73,209 7,027 24,544 15,324 45,252 750 3,078 335 [divider style=”normal” top=”20″ bottom=”20″] FDI INFLOWS IN PAKISTAN ($ Million) Sectors 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 (Jul-Dec) Oil & Gas 740.6 512.2 629.4 559.6 502 246.1 261.6 86.2 Power -120.6 155.8 -84.9 28.4 71.4…

[dropcap]W[/dropcap]ind energy is the fastest growing renewable energy source in the world right now. A continued interest in wind energy development globally has produced steady improvements in technology and performance of wind power plants. New wind power projects have proven that wind energy not only is cost competitive but also provides extra advantage to the economy and the environment. A steady supply of reasonably strong wind is essential requirement for using the power in the wind. Development of wind energy depends upon a clear understanding of wind resources. Luckily, Pakistan is fortunate to have something many other states do not,…

[dropcap]U[/dropcap]se of coal is playing a vital role in the electricity generation globally. Coal-fired power plants fuel 41 percent of worldwide electricity while in some states these projects generate higher percentage of electricity. Worldwide coal consumption looks set to peak, as the continuing reform of China’s economy causes growth in its demand for coal (energy) to slow sharply, although China’s coal consumption is predicted to broadly plateau over the next 20 years, in sharp contrast to the rapid, industrialization-fuelled growth of much of the past 20 years. Growth in worldwide coal demand slows sharply relative to the past (0.2% p.a.…

US STOCKS ADD TO RECORDS ON TRUMP’S ‘HYPE’ Wall Street stocks added to records early Friday on optimism over President Donald Trump’s promise of tax cuts, with petroleum-linked stocks gaining on higher oil prices. About 15 minutes into trading, the Dow Jones Industrial Average stood at 20,233.21, up 0.3 percent. The broad-based S&P 500 also climbed 0.3 percent to 2,313.71, while the tech-rich Nasdaq Composite Index advanced 0.2 percent to 5,728.36. Trump sparked a rally Thursday that lifted all three major US stock indices to records by promising details on his much-anticipated tax-cut plan in two-three weeks. Friday’s session closes…

EUROPEAN EDIBLE OILS MARKET TO CROSS US$38BN BY 2022 The edible oils market in Europe is anticipated to cross US$38 Billion by 2022, on account of changing dietary habits, growing preference for healthy edible oils and increasing urbanization. Rapeseed oils occupied the largest share in Europe edible oils market in 2016. Edible oil is made of plant fats, animal or microbial origin, and is used in frying, baking and other types of cooking. Olive oil, palm oil, soybean oil, canola oil, pumpkin seed oil, corn oil, sunflower oil, safflower oil, peanut oil, grape seed oil, sesame oil, argan oil and…

TANKER ORDERING ACTIVITY PICKS UP, ALBEIT AT SLOW PACE Newbuildings are still hard to come by in today’s market. However, over the course of the past few weeks, a new trend has started emerging, which sees more ordering activity in the tanker segment. It is said that interest in the tanker sector has started to allow for a small inflow of new orders to creep in, with prices having also shown a slight correction from where they closed off at the end of 2016. That’s not to say that these orders are coming in easy, as shipbuilders are facing a…

[dropcap]O[/dropcap]RGANIZATIONAL INERTIA ALL ORGANIZATIONS NEED A DISCIPLINE THAT MAKES THEM FACE UP TO REALITY. All organizations need to know that virtually no program or activity will perform effectively for a long time without modification and redesign. Eventually every activity becomes obsolete. Among organizations that ignore this fact, the worst offender if government. Indeed, the inability to stop doing anything is the central disease of government and a major reason why government today is sick. Hospitals and universities are only a little better than government in getting rid of yesterday. Businessmen are just as sentimental about yesterday as bureaucrats. They are…

Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 30-Dec Friday 6-Jan Friday 13-Jan Friday 20-Jan Friday 27-Jan Friday 3-Feb DOLLAR Buying 108.2 108.35 108.4 107.8 107.6 107.9 Selling 108.5 108.65 108.7 108.1 107.9 108.2 POUND Buying 131.75 132.75 131.25 132 134.5 134.25 Selling 133.5 134.5 133 133.75 136.25 136 EURO Buying…

THE 10 MOST VALUABLE BRANDS IN THE WORLD Name & rank Description Name & rank Description 1. Google Brand value: $229.2 billion Percentage change from last year: +32% Last year’s rank: 2 6. Visa Brand value: $100.8 billion Percentage change from last year: +10% Last year’s rank: 5 2. Apple Brand value: $228.5 billion Percentage change from last year: -8% Last year’s rank: 1 7. Amazon Brand value: $98.9 billion Percentage change from last year: +59% Last year’s rank: 14 3. Microsoft Brand value: $121.8 billion Percentage change from last year: +5% Last year’s rank: 3 8. Verizon Brand value:…

[dropcap]P[/dropcap]akistan’s leading high street brand and winner of countless Lux Style Awards, Khaadi is the most quintessentially the country’s brand. Khaadi opened its doors back during 1998 with hand woven fabric, its signature lawn was a much later induction but one that was wholeheartedly embraced by all lawn fanatics. While Khaadi has been rising from strength to strength, this year’s lawn collection left the company a tad bit underwhelmed. Khaadi, which means hand-woven, has stayed true to its name and continues to produce a fusion of styles to complement both the east and west, while still utilizing hand-woven fabrics on…

[dropcap]E[/dropcap]ngro Foods in Pakistan, is among the biggest and fastest growing firms with a vision to cater to domestic needs with products conforming to worldwide standards. Highly passionate about offering millions of people across the length and breadth of the country and beyond with the ultimate brand experience, its product portfolio comprises some of Pakistan’s biggest and best selling brands counting Olper’s, Olper’s Lite, Olper’s Lassi, Omore, Dairy Omung and Tarang. Engro Foods no doubt, is a company that prides itself on being the market leader in innovative new offerings. From Tarang to the new Olper’s Lassi, the management has…

PAKISTAN STOCKS FALL ON PROFIT-TAKING Pakistan stocks underwent a little correction after a rollercoaster ride on Friday as investors booked profits in blue-chip shares with earnings season almost over. Financial results invited support in selected cement, textile and fertilizer stocks. However, dismal earnings announcements in fertilizer sector and cautious activity on regulatory oversight dampened sentiments. The KSE 100-share Index of the Pakistan Stock Exchange (PSX) shed 0.22 percent or 110.14 points to close at 49,555.83 points. KSE 30-share Index fell 0.10 percent or 27.53 points to end at 26,716.76 points. As many as 413 scrips were active; of which 124…

STRONG SEASON LIFTS CRUDE OIL TANKERS From a crude oil market perspective, 2016 can be summed up as “eventful”. In January, the international sanctions on Iran were lifted, resulting in a very swift increase of their oil production capacities and subsequent re-entry into the global oil export market. Seasonality has certainly been a friend of crude oil tanker owners during Q4. Since global refining crude throughput bottomed out in October due to regular annual maintenance, the demand for crude oil tankers has been high. After sliding most of the year, with suezmax earnings falling below USD 5,000 per day in…

OIL & COAL DEMAND COULD PEAK BY 2020 A drop in the cost of solar and electric vehicle technology could see demand for coal and oil peaking by 2020, according to the experts. The analysis cautions that large energy companies adopting a “business as usual” attitude are underestimating the advances of low carbon technologies. Experts propose a new ‘starting point’ scenario that takes in cost reduction projections for electric vehicles and solar photovoltaic technology, as well as emissions commitments made under the historic Paris Climate Agreement. Among other things: solar photovoltaic technology providing 29 percent of global power generation by…

Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 23-Dec Friday 30-Dec Friday 6-Jan Friday 13-Jan Friday 20-Jan Friday 27-Jan DOLLAR Buying 108.5 108.2 108.35 108.4 107.8 107.6 Selling 108.8 108.5 108.65 108.7 108.1 107.9 POUND Buying 133 131.75 132.75 131.25 132 134.5 Selling 134.75 133.5 134.5 133 133.75 136.25 EURO Buying…

TOP 10 DEADLIEST DISEASES IN THE WORLD 1. Coronary Artery Disease (Ischemic Heart Disease) 6. HIV/AIDS 2. Stroke 7. Diarrheal Diseases 3. Chronic Obstructive Pulmonary Disease (COPD) 8. Diabetes Mellitus 4. Lower Respiratory Infections 9. Preterm Birth Complications 5. Trachea, Bronchus, and Lung Cancers 10. Tuberculosis (TB) [divider style=”normal” top=”20″ bottom=”20″] PAKISTAN STOCK EXCHANGE (PSX) Description 2011-12 2012-13 2013-14 2014-15 2015-16 (end March, 2016) Total Listed Companies 591 569 557 560 560 New Companies Listed 3 4 5 9 6 Total Listed Capital (Rs. in million) 1,069,840.0 1,116,005.0 1,100,340.9 1,189,518.9 1,288,777.7 Total Market Capitalization (Rs. in million) 3,518,140.0 5,154,738.0 6,655,294.8…

[dropcap]C[/dropcap]hina is the world’s second largest economy and has one of the fastest growth rates of any G20 nation, but its stock markets have been among the worst performing globally in 2016. Starting with a botched attempt to reduce volatility that instead triggered a spectacular meltdown, Chinese bourses have spent the year struggling against feckless policymakers, massive capital flight and a languishing currency. Unlike most worldwide exchanges where institutions hold sway, China’s stock markets are dominated by small financiers, heightening volatility and short-termism. Government-backed funds injected billions of dollars into China’s markets during 2015 in an attempt to stop them…

[dropcap]P[/dropcap]akistan entered into a new era of equity trading from time to time development in its stock exchange, which is getting succession, ideally. Pakistan Stock Exchange (PSX) has been ranked 5th best-performing stock exchange with 43.05 percent gain last year and there are reports that PSX has topped Bloomberg’s best performing equity index 2016 in Asian markets. Despite the unrest in Brazil, Brazil Stock Exchange topped the list with a gain of 63.36 percent. Kazakhstan, Peru and Russia stock markets were second, third and fourth respectively. Nigeria’s ratings were worst with-41.40 percent. It is also said that Karachi 100 Index…

DOW JONES STAYS ABOVE 20,000 US stocks were little changed on Thursday as investors paused following a two-day rally that pushed the Dow Jones Industrial Average above the 20,000 mark, while the latest wave of earnings rolled in. Qualcomm weighed on both the S&P 500 and Nasdaq as the chipmaker fell 5.0 percent to $54.05 after posting a lower-than-expected rise in quarterly revenue. Of the 146 companies that have reported earnings through Thursday morning, 69.2 percent have topped expectations, compared with the 63.6 percent average since 1994. The Dow Jones Industrial Average rose 32.40 points, or 0.16 percent, to close…

CAPESIZE MARKET KEEP STRUGGLING The beleaguered dry bulk market has now entered its third year of crisis, in what could be a “make-or-break” 12 months for many owners, already financially exhausted by the continuous low freight rate environment. So far, the familiar January slow start to the year is already apparent, as this is – traditionally – the slowest time of the year. As a result, over the course of the first couple of weeks, the Baltic Dry Index (BDI) has lost a total of 51 points, retreating back to 910 points. In its latest report, shipbroker commented on the…

WORLD WHEAT PRODUCTION TO DECLINE IN 2017-18 In its preliminary outlook for 2017-18 world wheat supply and demand, the International Grains Council on Jan. 19 projected world wheat production to decline about 2 percent from the record outturn estimated for the current year. The IGC preliminarily projected the 2017-18 world wheat crop at 735 million tons, down 17 million tons from 752 million tons as its estimate for 2016-17. The IGC noted should its projection be realized, world wheat production would decline for the first time in five years. The 2017-18 crop still would be the third-largest ever. The projection…

[dropcap]P[/dropcap]ROVIDE NEW TOP MANAGEMENT THE BUSINESS THESE PEOPLE SELL IS THEIR “CHILD.” Within a year or so, the acquiring company must be able to provide top management for the company it acquires. The buyer has to be prepared to lose the top incumbents in companies that are bought. Top people are used to being bosses; they don’t want to be “division managers.” If they were owners or part-owners, the merger has made them so wealthy they don’t have to say if they don’t enjoy it. And if they are professional managers, without an ownership stake, they usually find another job…

Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Sat 17-Dec Friday 23-Dec Friday 30-Dec Friday 6-Jan Friday 13-Jan Friday 20-Jan DOLLAR Buying 107.75 108.5 108.2 108.35 108.4 107.8 Selling 108.05 108.8 108.5 108.65 108.7 108.1 POUND Buying 133.25 133 131.75 132.75 131.25 132 Selling 135 134.75 133.5 134.5 133 133.75 EURO Buying…

TOP 10 DEADLIEST DISEASES IN THE WORLD 1. Coronary Artery Disease (Ischemic Heart Disease) 6. HIV/AIDS 2. Stroke 7. Diarrheal Diseases 3. Chronic Obstructive Pulmonary Disease (COPD) 8. Diabetes Mellitus 4. Lower Respiratory Infections 9. Preterm Birth Complications 5. Trachea, Bronchus, and Lung Cancers 10. Tuberculosis (TB) [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] 5 MAJOR COUNTRIES WITH THE WORST HEALTH CARE 1. New Zealand 2. Norway 3. France 4. Canada 5. United states [divider style=”normal” top=”20″ bottom=”20″] MORTALITY RATE IN PAKISTAN Details 2012 2013 2014 2015 Maternal mortality 197 190 184 178 Infant mortality 71 69 67 66…

[dropcap]T[/dropcap]he Aga Khan University Hospital (AKUH) in Karachi, set up during 1985, is the primary teaching site of the Aga Khan University’s (AKU) Faculty of Health Sciences. The hospital offers a wide range of secondary and tertiary care, counting diagnosis of disease and team management of patient care. The hospital’s multi-disciplinary approach to diagnosis and care ensures a continuum of safe and high quality care for patients – with all services under one roof. The hospital promotes the Aga Khan University’s aim of promoting human welfare in general and the welfare of the citizens of Pakistan in particular, by disseminating…

[dropcap]C[/dropcap]orporate Social Responsibility (CSR) means a responsible business. It is also a perception of having a corporate conscience or corporate citizenship along with company’s and employee development. This fast and ready concept of CSR has been the focus of many deliberations and research and taking its growth and importance both academically and in the business sense of development. It captures a spectrum of values and criteria for measuring a company’s contribution to social development. The central theme of the concept of corporate social responsibility (CSR) is that the social responsibilities are the social forces operating in every society making corporates…

NEWBUILDING ACTIVITY RETURNS BUT ON ‘SNAIL PACE’ It seems that the trend set in 2016, when newbuilding orders hit a multi-year low is going to spill over to 2017 as well, with the majority of ship owners shying away from contracting, despite attractive prices. It is also noted that in tankers, although contracted before the end of last year, it has been reported this week that Clients of Pleiades Shipping Agents have placed an order for two firm plus two optional 50,000 DWT MR Tankers at Hyundai Mipo Dockyard. The two firm units will deliver in 1H 2018 and the…

CHINA SCRAPS MORE THAN 100 POWER PLANTS China has announced plans to cancel more than 100 coal plants currently in development, scrapping what would amount to a massive 120 gigawatts (GW) of coal-fired electricity capacity if the plants were completed. For a bit of context, the entire US has approximately 305 GW gigawatts of coal capacity in total, and this massive adjustment leaves room for China to advance its development of clean, renewable energy. Despite China’s much-publicized pollution problems, the reason for the cancellations is because the country was actually vastly exceeding its planned coal capacity for the future. Per…

[dropcap]C[/dropcap]OMMON CORE OF UNITY THERE HAS TO BE A “COMMON CULTURE” OR AT LEAST A “CULTURAL AFFINITY.” Successful diversification by acquisition, like all successful diversification, requires a common core of unity. The two businesses must have in common either markets or technology; through occasionally a comparable production process has also provided sufficient unity of experience and expertise, as well as a common language, to bring companies together. With-out such a core of unity, diversification, especially by acquisition, never works; financial ties alone are insufficient. One example is a big French company that has been built by acquiring producers of all…

Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 9-Dec Sat 17-Dec Friday 23-Dec Friday 30-Dec Friday 6-Jan Friday 13-Jan DOLLAR Buying 107.3 107.75 108.5 108.2 108.35 108.4 Selling 107.6 108.05 108.8 108.5 108.65 108.7 POUND Buying 134.5 133.25 133 131.75 132.75 131.25 Selling 136.25 135 134.75 133.5 134.5 133 EURO Buying…

INSURANCE SECTOR IN PAKISTAN DURING NINE MONTH PERIOD ENDED SEPTEMBER 30, 2016 (Non-Life Members) (PKR in ‘000) S.No Name of Companies * Premium Written Net Premium Revenue Net Claims Net Commission  (Income)/Expense Management Expenses Gen. Admin. Exp+ Financial +Other Exp. Investment Income/(Loss) 1 Adamjee Insurance 8,298,411 4,106,445 2,321,036 246,352 942,444 436,827 2,818,883 2 Alfalah Ins. Co 1,543,342 646,046 361,117 -52,503 195,128 81,984 64,339 3 Allianz EFU Health 1,610,643 908,107 723,191 -50,127 140,409 46,912 78,979 4 Alpha Insurance 120,475 59,585 56,487 8,085 51,470 20,004 52,869 5 Asia Insurance 421,402 309,968 50,869 55,393 94,704 49,228 34,552 6 Askari Gen. Insc. 1,703,632 938,353 459,755…

[dropcap]P[/dropcap]akistan’s Insurance sector is relatively small compared to its peers in the region. The insurance penetration and density stayed very modest as against to other jurisdictions while the insurance sector remained underdeveloped relative to its potential. As of December 2014, the sector’s total premium revenue reached at over Rs108 billion, which is 0.80 percent of GDP. In the year closing 2014, the sector received Rs60 billion in premium in the non-life segments spread over 39 firms, Rs48 billion in the life sector, spread between 5 firms of the private sector. However, a bigger portion belongs to the state-owned life insurance…

[dropcap]I[/dropcap]n 1990, the Government of Pakistan reopened the life insurance business to the private sector organizations and EFU Life Assurance Limited started operations in November 1992 as the first private sector life insurance company. In early 1993, EFU Life commenced its Group life insurance business and by March 1994, the company began writing its individual life business. Now, with over 2-decade passed, the firm has greater than 175 branches and a dedicated sales force of 4,000; it also provides insurance products by other channels like bancassurance. EFU Life has seen a solid double-digit growth in its net premiums in each…

[dropcap]T[/dropcap]he United Insurance Company of Pakistan Limited (UIC) was established during 1959 and was operational in Pakistan counting East Pakistan (now Bangladesh). UIC is operating greater than 100 branches in the entire country and is doing general business counting Fire Insurance, Marine, Motor – Auto Sure Plan, Livestock, Crop Insurance, Engineering, Travel Insurance, Health Insurance Plan, Travel & Cargo Agents Guarantees, Personal Accident Policy for Students, Shop Secure Plan Plus, Self Secure Plan Plus, Education Secure Plan, Home Secure Plan and Banker’s Blanket Insurance. UIC: SELF SECURE PLAN PLUS Protection Plans Segment Gold Platinum 1.Accident Protection 500,000 1,000,000 2.Medical Expenses…

BANKS PUSH PAKISTAN STOCKS DOWN Pakistan Stock Exchange (PSX) came under pressure as the financiers opted to book profit on available margins on the last trading day Friday. Banking sector led the decline and the benchmark KSE-100 index fell by 306.52 points to 49,210.50 points. The market opened on a positive note and the index hit 49,670.84 points intra-day high level, however selling pressure in different sectors pushed the index into the negative territory at 49,151.47 points intra-day low level. Trading activity also remained low as the daily trading volumes on the ready counter decreased to 514.224 million shares as…

OIL RATES STUMBLE AFTER STRONG JUMP IN US CRUDE STOCKS Crude prices slipped Thursday after data showed a stronger-than-expected increase in US crude and distillate fuel stocks at a time when oil exports out of the Middle East are surging. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLH7, +0.36 percent traded at $52.16 a barrel, down 9 cents in the Globex electronic session. March Brent crude LCOH7, +0.60 percent on London’s ICE Futures exchange was flat at $55.10 a barrel. For the week ended January 6, U.S. domestic crude stockpiles rose by 4.1…

ROCKY PATH AHEAD FOR ASIA TANKER MARKET Asia’s crude tanker market faces the double whammy of a flood of newbuild deliveries and a cut in OPEC production in Q1 2017. On the supply side, net capacity growth is estimated to be around 5 percent for VLCCs, 9.6 percent for Suezmaxes and 7 percent for the Aframaxes/ LR2 segment in 2017. At least 50 percent of the newbuild VLCCs and Suezmaxes will be delivered in Q1, worsening the oversupply of tonnage. On the demand side, OPEC’s planned output cut of 1.2 mmb/d starting January will lead to less crude export cargoes…

[dropcap]B[/dropcap]USINESS NOT FINANCIAL STRATEGY “THERE AIN’T NO BARGAINS,” AND “YOU GET AT MOST WHAT YOU PAY FOR,” Successful acquisitions are based upon business plans, not financial analyses. Acquisition targets must fit the business strategies of the acquiring company; other wise, the acquisition is likely to fail. The worst acquisition record of the last decades of the twentieth century was that of Peter Grace, the longtime CEP of W. R. Grace. He was a brilliant man. He set out in the 1950s to build a world-class multinational through financially-based acquisitions. He assembled the ablest group of financial analysts and had them…

Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 2-Dec Friday 9-Dec Sat 17-Dec Friday 23-Dec Friday 30-Dec Friday 6-Jan DOLLAR Buying 107.7 107.3 107.75 108.5 108.2 108.35 Selling 108 107.6 108.05 108.8 108.5 108.65 POUND Buying 134.75 134.5 133.25 133 131.75 132.75 Selling 136.5 136.25 135 134.75 133.5 134.5 EURO Buying…

PETROLEUM PRICES IN PAKISTAN (Rs/Ltr) DATE HOBC PREMIUM HS DIESEL LS DIESEL KEROSENE Jan 02, 2017 72.68 66.27 75.22 43.35 43.25 Dec 01, 2016 72.68 66.27 75.22 43.35 43.25 Nov 01, 2016 72.68 64.27 72.52 43.35 43.25 Oct 01, 2016 72.68 64.27 72.52 43.35 43.25 Sep 01, 2016 72.68 64.27 72.52 43.35 43.25 Aug 01, 2016 72.68 64.27 72.52 43.35 43.25 Jul 01, 2016 72.68 64.27 72.52 43.35 43.25 Jun 01, 2016 72.62 64.27 75.86 40.2 45.23 May 01, 2016 72.62 64.27 72.52 37.97 43.25 Apr 01, 2016 72.62 64.27 72.52 37.97 43.25 Mar 01, 2016 72.62 62.77 71.12 37.97…

[dropcap]P[/dropcap]etroleum products account for a substantial portion of Pakistan’s import bill. During FY2011-12, Pakistan imported $18.9 billion worth of crude oil but courtesy of the steep decline in the commodity’ foreign price, oil imports came down to $7.9 billion during FY2015-16. The savings on oil import enabled the country to increase the purchase of machinery and other capital equipment essential for development without having the present account deficit shoot up. Not only that, low oil rates were instrumental in keeping the general price level from rocketing. Thus greater than any other factor, low oil rates were accountable for single-digit inflation…

[dropcap]F[/dropcap]or the past 39 years, Pakistan State Oil (PSO) has been fueling the needs of the state and acknowledged as the leading public sector company of Pakistan, the company has been driving the wheels of the nationwide economy. It is the first public company to pass the 1 trillion rupee revenue mark. Presently the management of company is engaged in the marketing and distribution of various POL products counting Motor Gasoline (Mogas), Furnace Oil (FO), Jet Fuel (JP-1), High Speed Diesel (HSD), Kerosene, LPG, CNG, Petrochemicals and Lubricants. PSO has the most wide-spread retail network in Pakistan with over 3,500…

PSX STANDS ANOTHER MILESTONE Pakistan Stock Exchange on Friday achieved another milestoneas the benchmark KSE-100 Index crossed 49,000 points psychological level andended at new high of 49,038.23 points with healthy increase of 324.60 points. Trading activities also improved on the last trading day ofthe week as daily trading volumes increased to 430.724 million shares ascompared to 329.241 million shares traded on Thursday. Total market capitalization rose by Rs 41 billion to Rs 9.795trillion. Out of total 423 active scrips, 264 closed in positive and 140 innegative while value of 19 stocks remained unchanged. The foreign investors,however remained net sellers of…

GOLD RISES NEARLY 4-WEEK HIGH Gold rose to the highest in nearly four weeks on Wednesday as the dollar edged back from a 14-year peak and physical demand from major consumers China and India increased. Spot gold climbed to its highest since December 9 at $1,167.83 an ounce and was up 0.2 percent at $1,161.2 by 2:49 p.m. EST (1949 GMT). US gold futures settled up 0.3 percent at $1,165.30. The dollar index has consolidated and the big outflow from exchange-traded products (ETPs), which has been the biggest headwind for gold in the past few months, has stopped recently. [divider…

SULPHUR OIL AND BALLAST WATER TREATMENT SET RULE FOR VESSELS NOW Shipowners around the world are faced with increasing costs, which could offset any potential rebound of freight rates over the course of the next year or so, as a series of new regulations are bound to necessitate new investments in the existing fleet. First off, the entry into force of the Ballast Water Management Convention means that by this coming September all vessels will have to be fitted with some sort of BWM system, preferably approved by the US Coast Guard as well, otherwise the ship won’t be able…

[dropcap]R[/dropcap]ESOURCE-ALLOCATION DECISIONS THE ALLOCATION OF CAPITAL AND PEOPLE DETERMINE WHETHER THE ORGANIZATION WILL DO WELL OR POORLY. The allocation of capital and performing people converts into action all that management knows about its business – they determine whether the organization will do well or well or poorly. An organization should allocate human resources as purposefully and as thoughtfully as it allocates capital. To understand a capital investment, a company has to look at four measures: return on investment, payback period, cash flow, and discounted present value. Each of these four measures tells the executive something different about a prospective capital…

Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 25-Nov Friday 2-Dec Friday 9-Dec Sat 17-Dec Friday 23-Dec Friday 30-Dec DOLLAR Buying 107.15 107.7 107.3 107.75 108.5 108.2 Selling 107.45 108 107.6 108.05 108.8 108.5 POUND Buying 133.5 134.75 134.5 133.25 133 131.75 Selling 135.25 136.5 136.25 135 134.75 133.5 EURO Buying…

CREDIT/LOANS CLASSIFIED BY BORROWERS (Outstanding position at the end of month) (Million Rupees) Description June-15 Nov-15 June-16R Nov-16P 1. Credit to Government Sector (A+B) 7,265,070 7,386,711 8,109,581 8,363,132 A. SBP Credit to Government Sector (Net) 1,987,950 1,625,627 1,454,273 2,498,439 B. Scheduled Banks Credit to Government Sector (Net) 5,277,120 5,761,084 6,655,308 5,864,693 2. Credit to Non Government Sector (A+B) 4,409,977 4,487,285 4,953,550 5,096,059 A. SBP Credit to Non Govt. Sector 29,826 32,953 32,603 33,185 B. Scheduled Banks Credit to Non Govt.Sector (I+II+III) 4,380,151 4,454,332 4,920,948 5,062,874 I. Credit to PSEs 611,812 646,694 749,837 796,361 II. Credit to NBFIs 117,274 109,065 129,258 134,942…

Bank registers satisfactory results in Q1-2016 [dropcap]I[/dropcap]n continuation of National Bank of Pakistan journey for embracing the future banking, the bank has inked a deal with one of the world’s most distinguished card brands MasterCard. The Bank is cognizant of the future banking needs and the management of the Bank has embarked upon many technology steps aimed towards provision of multiple delivery channels; and this deal is part of the journey of offering best in class products. The signing with MasterCard was a significant milestone for NBP, as it will further offer NBP account holders choice of leading card schemes…

[dropcap]HBL[/dropcap] has delivered a consolidated profit after tax of Rs25.8 billion for the first nine months of 2016, slightly higher than the Rs25.7 billion achieved for the same period in 2015. Earnings per share (EPS) for the first nine months of 2016 were Rs17.47 as against to Rs17.53 in the comparable period of 2015. Pre-tax profit for the first three quarters of 2016 is Rs43.5 billion, 8.0 percent lower than for the corresponding period of 2015. The 2015 results included exceptional capital gains, chiefly because of re-profiling of the PIB portfolio, which were not predicted to be repeated. Excluding the…