[dropcap]W[/dropcap]hile the much talked about China-Pakistan Economic Corridor (CPEC) project which is certainly crucial for economic growth and stability of Pakistan this game changer project is accompanies by some challenges as well. In this regard the future increase in oil prices and enhanced CPEC related machinery imports would make the largest import bill to hit $52 billion while exports would hardly make it to $20 billion making the country to post the huge trade gap of around $ 32 billion. This was highlighted by the Research and Development section of Karachi Chamber of Commerce and Industry in a report about…
Author: Amanullah Bashar
Interview with Mr Shamsuddin Ahmed Shaikh – CEO, Thar Power Project [box type=”shadow” align=”” class=”” width=””]PROFILE Shamsuddin Ahmed Shaikh is the Chief Executive Officer (CEO) of Engro Powergen Limited, Sindh Engro Coal Mining Company, Thar Power Company Ltd. Prior to his current position; Mr. Shamsuddin was Senior Vice President at Engro Foods. He is the Chairman of the Board of Directors of Engro Powergen Thar (Pvt) Limited and Engro Powergen Qadirpur Limited while he also serves at the Board of Directors of Sindh Engro Coal Mining Company, Thar Power Company, Engro Powergen Limited; Engro Eximp Ltd & Engro Eximp Agriproducts…
Interview with Mr Aasim Siddiqui – Managing Director, Marine Group of Companies [box type=”shadow” align=”” class=”” width=””]PROFILE Aasim Siddiqui is the Group Managing Director of Marine Group of Companies, which is the biggest and most diversified business group in the shipping, logistics and cargo handling industry in Pakistan. Aasim Siddiqui has actively developed and financed various transport and logistics projects in Pakistan in the last 20 years. He is also on the board of directors of other 14 companies of the group. The signature projects of Mr. Aasim Siddiqui include; Pakistan International Container Terminal (PICT), the only public listed container…
HIGHLIGHTS OF THE BUDGET 2017-18 — In the final budget announcement of its tenor, the incumbent government has envisaged a total federal expenditure of PKR4.75 trillion for FY18, 11.7%YoY higher than the revised amount during FY17. — Achieving a sustainable growth will continue to remain the target for the government where many fiscal incentives, that were introduced in the last budget have been continued for another year. — However, unlike the pre-budget expectations, the budget announcement fails to deliver additional incentives to the export-oriented sector to improve the overall exports and contain the escalating CAD position. — Long term GDP…
[dropcap]S[/dropcap]tate Bank of Pakistan (SBP) has decided to keep the monetary policy rate unchanged at 5.75 percent for next two months on the back of impressive real GDP growth in financial year 2017, which is provisionally estimated at 5.3 percent representing a 10-year high. Specifically, the revival of domestic demand has been instrumental in the current upturn. The upbeat economic sentiments and low interest rates have encouraged the private sector to undertake capacity expansions. Private sector credit posted a net expansion of Rs 503 billion during Jul-Apr FY17, which is significantly higher than the uptick of Rs 334 billion in…
Technology penetration is the driving force for massive growth of e-commerce Interview with Mr Saman Javed – Head of Corporate Communications at Daraz.pk [box type=”shadow” align=”” class=”” width=””]Profile Saman Javed is the Head of Corporate Communications & Partnerships at Daraz.pk. A PR maven with background in journalism and a degree in law; at Daraz, from devising a communication strategy to formulating the message roll-out plan via several online and offline marketing channels, it is on her to drive home the brand message with utmost creativity. She works across marketing functions (PR, Content, Offline and Social) to define the product proposition,…
OUTFLOW OF FOREIGN INVESTORS DRAGS THE INDEX BY 1.9 PERCENT KSE-100 Index passing through bearish trend for the last four trading sessions dipped by 214 points to close in red at 50,742 levels on the last trading session of the week Friday. Although the beginning of the week witnessed an all-time high level of 52,387 with the addition of 636 points on the first trading session of the week close in green on Monday. However, the unstopped decline started from Tuesday with the Index plunged by 574 points on Tuesday and 301 points on Wednesday and 554 points on Thursday…
[dropcap]T[/dropcap]he major concern of the trade and industry is the rising rate of inflation and what they called the complexities in the tax collection system and the higher rate of sales tax which is 17 percent in the current fiscal year. The trade and industry has urged the Federal Board of Revenue (FBR) to bring down sales tax rate to 14 percent in the budget 2017-18 against the existing flat rate of 17 percent. The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) in its budget recommendation of next fiscal year said that prevailing rate of sales tax at…
Bank of China gets license to commence its business in branch mode The Bank will fulfill minimum capital requirements of $50 million [dropcap]S[/dropcap]tate Bank of Pakistan (SBP) has issued a banking license to the Bank of China. The Bank will commence its business in branch mode after meeting other regulatory requirements, which is yet another stride towards facilitating the financial assistance to China-Pakistan Economic Corridor (CPEC). The Bank of China is a subsidiary of China Central Huijin, investment arm of the Government of China. The Bank of China is not only operating in the Chinese main land, but its footprints…
German products like UHU carved a respectable place in Pakistan Interview with Mr. Frank Haaga – Area Chief, UHU of Germany [box type=”shadow” align=”” class=”” width=””]Profile Frank Haaga, a seasoned professional carrying an extensive international exposure to his professional credit is associated with UHU of Germany for the last 26 years. Frank worked on various positions in the UHU International Sales Department with special focus on North and Eastern Europe, Middle East and Africa as well as Asia Pacific markets during his 26 years of service for the company.[/box] In an interview he said Pakistan is a huge market which…
PSX BENCHMARK KSE-100 MAKES HISTORY; RALLY IN OIL PRICES TRIGGERS OIL BASED STOCKS KSE 100 Index which made a history by rising above 51,700 points level at the end of the week is well poised to achieve new highs in the coming week as the investor’s excitement is on the high prior to announcement of reclassification of its status as Emerging Market by the MSCI, expected on May 15, 2017. The KSE-Index ended on Friday, a last day of the week at 51,750.91. It will not be out of place to mention that the demand growth of construction material especially…
An Interview with Mr. Abbas Bilgrami [box type=”shadow” align=”” class=”” width=””]Profile Abbas Bilgrami having an extensive exposure to the local and global energy sector is the former Chief Executive Officer (CEO) of Progas Energy Limited. At present he is engaged in development energy projects in different parts of Africa region. He has the privilege of working with some of the finest energy experts in Pakistan and internationally. As Secretary General of the Energy Expert Group he has written the first Integrated Energy Plan for Pakistan. He also worked as Director/Trustee of the Indus Earth Trust, which does exceptional work in…
KSE-100 INDEX GAINS 567 POINTS; PSX TO BE ACCORDED STATUS OF EMERGING MARKET THIS WEEK KSE-100 Index kept on its upward movement with an impressive gain of over 567 points to close in green at 49, 851 levels on the last trading session of the week. Although the Index had crossed over 50,000 levels in the psychological barrier during first half of the trading session, yet the Index subsided due to selling pressure at the close of the market, however, the market sentiment remain bullish. In fact the Pakistan Stock Exchange is well poised to upgrade its status from frontier…
[dropcap]T[/dropcap]here is a need of fund enhancing schemes for Small and Medium Enterprises (SME) sector in terms of expanding the economic activities from the grass root level in Pakistan. Actually SME sector is considered as a backbone of any economy for its role of supplementing supply chain, which is vital for producing export surplus in the economies around the world. In Pakistan, the SME sector is confronted with financial issues due to lack of documentation in most of the SME sector in the face of prudential regulations, which requires documentation support for access to banking financial. However, some major developments…
Due to limited resources HBFC disburses Rs4 billion for housing finance Interview with Mr. Pervez Said– CEO & MD, House Building Finance Company (HBFC) Pakistan is a huge market for house financing estimated at Rs200 billion to meet the ever-increasing demand for housing finance, however, HBFC disburses around Rs4 billion a year for housing finance because of limited financial backup, said Mr. Pervez Said, Chief Executive Officer and Managing Director, House Building Finance Company Limited in an interview. Mr. Pervez Said prior to joining HBFC was on the Board of Al-Baraka Bank Pakistan Ltd. Mr. Said brings over 34 years…
MOU FOR LISTING OF SME WITH PSX A MAJOR STEP TOWARDS SUPPORTING SMEs KSE-100 Index dropped yet another 180 points to close in red at 49,300 levels on the last trading session of the week on Friday. According to market analysts the current formation on daily chart indicates that index could face a couple of bearish sessions next week before resuming the bullish momentum on the back of strong rally of the corporate financial results, at the moment the support is initially placed at 49,100 levels, however, due to broken support the index may further down upto 48,700 that would…
Positive government policies and efforts help increase revenue collections/tax net [dropcap]T[/dropcap]he persistent efforts supported by facilitating policies of the government enabled the tax collecting agencies to achieve and surpass the revenue targets as a result more than 20% increase in financial year 2016-17. According to official figures the provisional collection figures, FBR has made a net collection of Rs 3112 billion for the year ended 30th June 2016 as against Rs 2,589 billion collected in the year ending on 30th June 2015 thereby registering a 20% increase over the last year. The Federal Board of Revenue collected Rs 1,217 billion…
Government gives a go ahead to gas utilities to install 60 LPG air mix plants [dropcap]I[/dropcap]n order to cater to the gas needs in the areas where the gas transmission lines are not available in Sindh, Balochistan, Gilgit and Baltistan the government has approved installation of 60 LPG Air mix plants comparatively cheaper than conventional fuel oil. In this respect 30 plants would be installed in Sindh and Balochistan while remaining 30 in Gilgit Baltistan. Amin Rajput, Acting MD, SSGC while discussing alternative fuel options has said that the SNG or LPG-Air Mix Technology is not a new phenomenon for…
PANAMA CASE VERDICT TRIGGERS A STUNNING MARKET GROWTH The bullish outburst in the wake of Supreme Court’s verdict on Panama case announced last week triggered an overwhelming trading activity leading the KSE-100 Index to a historic session with a quantum jump of around 1,200 points within a short span of time soon after announcement of the verdict by the apex court last week. Overall the Index was improved by around 1300 points as the bulls continued to dominate during the last trading session with a gain of 965 points to close in green at 49,708 at the close of the…
[dropcap]P[/dropcap]akistan-Qatar relations refer to the bilateral links between the Islamic Republic of Pakistan and the State of Qatar. Pakistan has an embassy in Doha while Qatar maintains an embassy in Islamabad and a consulate-general in Karachi. Relations between the two are shaped by Pakistan’s generally close relations with the Arab world. Like other nearby Gulf states, there is a large Pakistani community in Qatar, which numbers over 50,000. They work in diverse fields and send remittances each year. During the 2010 Pakistan floods, Qatar provided timely assistance to the country. Other than this, Qatar had assured the newly formed Government…
Quaid-e-Azam Mohammad Ali Jinnah helps resolved legal disputes between Bahrain and British authorities [dropcap]B[/dropcap]ilateral and trade relations between Pakistan and Bahrain are cordial and very deep rooted. It is evident from the fact that during 1930s the Bahraini people utilized the legal expertise of Quaid-e-Azam Muhammad Ali Jinnah – the Founder of Pakistan, in handling a legal dispute with the British authorities. Later, Pakistan had also reportedly helped Bahrain to set up its naval forces and 18% of the Gulf state’s air force comprises Pakistani personnel. There are over 400 companies currently operating in Bahrain which are either jointly or…
[dropcap]K[/dropcap]uwait’s decision to ban visas for Pakistani nationals after Gulf War has to some extent restricted the relations between the two countries, however, the recent visit to Kuwait by Prime Minister Nawaz Sharif resolved the issue as the Kuwait authorities have lifted the ban on visa for Pakistani workers. This move may have a positive impact on relations between the two countries as well as on the home remittances by Pakistani workers from the GCC countries. At present the number of Pakistanis living in Kuwait is estimated to be around 100,000. BILATERAL RELATIONS OF PAKISTAN AND KUWAIT Kuwait and Pakistan…
POLITICAL NOISE SNATCHES KSE-100 INDEX BULLISH MOMENTUM KSE-100 Index, which was plunged by 879 points in the last two trading session of the week, apparently lost its bullish momentum with the heightening of political noise and rumors regarding drop scene of Panama case sometime next week keeping the potential investors on the sidelines last week. In fact the nominal participation of the investors kept the Index continued its downward trend during the week. After starting on a positive note the Index lost its steam on political noise. Index closed the week at 47,577pts, down by 0.7%WoW. The foreign institutional portfolio…
[dropcap]P[/dropcap]akistan Telecommunication Company Limited (PTCL), the country’s leading ICT services provider, has announced its collaboration with iflix, the world’s leading Subscription Video-on-Demand (SVoD) service for emerging markets at a press conference in Karachi . iflix, in conjunction with PTCL, are pleased to offer all PTCL broadband subscribers (4 Mbps and above) and Smart TV customers unlimited access to its world-class service for 12 months. The announcement was made at a joint press conference held in Karachi which was addressed by senior executives of PTCL and iflix. PTCL’s Chief Commercial Officer, Adnan Shahid said on the occasion, “We want our customers…
Banks asked to prioritize agriculture financing with a target of Rs700 billion in 2017 Agriculture sector, which is considered as the backbone of the economy has yet to come out with its full strength to serve economic needs as well as food security of the country with a nation of 200 million plus population. The agriculture sector plays a central role in Pakistan’s economy. It is the second largest sector, accounting for over 21 percent of GDP, and remains by far the largest employer, absorbing 45 percent of the country’s total labor force. It is unfortunate that excessive involvement of…
There is a great need for increasing under cultivation area in Pakistan Interview with Mohammad Ruhail – CEO, Engro Fertilizers Limited [box type=”shadow” align=”” class=”” width=””]Profile Ruhail Mohammed is currently the Chief Executive Officer of Engro Fertilizers Limited. Prior to his current position, he was the Chief Financial Officer of Engro Corporation Limited and also the Chief Executive Officer of Engro Powergen Limited. He holds an MBA degree in Finance from the Institute of Business Administration Karachi, and is also a Chartered Financial Analyst (USA). Ruhail has 25 years of financial & commercial experience and prior to becoming CEO has…
KSE-100 INDEX BOUNCES BACK WITH A RISE OF OVER 532 POINTS Fluctuated inventories keep oil prices unpredictable KSE-100 Index after passing through some extremely depressed trading sessions for over a week managed to bounce bank with an impressive gain of 532 points to close in green at 47,889 levels on the last trading session of the week. According to market analysts, the Index continued its downward trend in the week as building political noise and yet another regulatory action taken by SECP against a broker kept the sentiments in negative. Index closed the week at 47,889pts, down by 0.7%WoW. FIPI…
European, Chinese and Korean models likely to roll out [dropcap]T[/dropcap]he auto sector in Pakistan, so far dominated by Japanese assembly lines, is likely to expand significantly with the arrival of new entrants such as Renault from France, Volkswagen from Germany, FAW from China, KIA from South Korea and European, besides Chinese auto allied industries. Actually the government is actively considering broadening of the industrial base by offering attractive incentives to the global players in the auto sector and the initiative taken by the government are likely to yield tangible results. In fact, the Pakistan auto policy announced in 2016 has…
More services like Uber and Careem in the pipeline [dropcap]T[/dropcap]he success story of Uber and Careem to follow more digital based services as the Regulator would soon launch more services in Pakistan like Uber and Careem, the Apps to call cabs at the commuter’s door. “It is worth mentioning that a total of 110 million transactions worth around Rs520 billion were carried out during quarter of July-September 2016 as a result of increasing e-commerce market,” said. Dr. Syed Ismail Shah, Chairman, Pakistan Telecommunication Authority (PTA) in Karachi. The State Bank of Pakistan (SBP) in collaboration with Ministry of Commerce developing…
KSE-100 INDEX RECOVERS BUT BEARS DOMINATE; POLITICAL NOISE CAUSES OUTFLOW OF FIPI KSE-100 Index after passing through depressed trading sessions throughout the week observed a positive session with a gain of 206 points to close in green at 48,155 on the last trading session of the week, however, overall the market was dominated by the bears. According to market analysts, the resistance is initially nailed at 48,400 levels. On the other hand if the aforementioned resistance is surpassed then 48,900 would be the second resistance zone going forward. However, the bears continued to dominate the index during the week as…
The nation of over 200 million is the real driving force of the country [dropcap]P[/dropcap]akistan’s GDP growth rate expected to grow at 5 percent reassuring a healthy trend if it is compared to the nightmare of the economic turmoil, which had begun some 9 years ago. Today Pakistan’s economy is ranked 24th in the world while having a huge market of over 200 million young population and this agile youth if used intelligently would be a game changer in all the socio-economic and politics segments of the country. Actually the real driving force of economic growth is the partnership between…
[dropcap]T[/dropcap]he State Bank of Pakistan in view of the low inflation rate which is expected to remain well anchored going forward has decided to keep the policy rate unchanged at 5.75 percent. It is said that the interest rate in Pakistan is at 42-year low primarily due to slashed inflation rate as well as international oil prices for the last four years, which lent a strong supporting hand to manage the current account deficit for the noticeable cut in oil import bill as well as maintaining the stable foreign reserves in the country. According to latest figures released by the State…
MARKET VOLUMES REMAIN DULL, FOREIGN INSTITUTIONAL PORTFOLIO INVESTORS TO MAKE IMPACT Although the KSE-100 Index opened marginally positive yet was ended negatively at the end of the day and plunged by 45 points to close in red at 48971 levels on the last trading session of the week. In a way the Index broke its losing streak amid political noise and low international oil price and closed the week at 48,971 points but up by 1.2% WoW. However, Foreign Institutional Portfolio Investors (FIPI) registered net inflow of US$3.5 million indicating a sign of bullish sentiments in the sessions to come…
[dropcap]G[/dropcap]overnor State Bank of Pakistan Ashraf Mahmood Wathra in a meeting with the Chief Executive Officers (CEOs) and Presidents of all the commercial banks has asked them to address overall risks of trade based money laundering. It is well known fact that trade transactions have the elements of under invoicing and over invoicing, which facilitates transfer of value across the borders. Primary responsibility in this regard lies with Pakistan Customs, however, since documents are negotiated and L/Cs are settled through formal banking sector, banks are required to enhance their capacity to process foreign trade transactions with extreme care and diligence.…
We need to learn the art of promoting strength of our nation and economy for the good of the people Interview with Mr. Sirajuddin Aziz – CEO & President Habib Metropolitan Bank Ltd [box type=”shadow” align=”” class=”” width=””]Profile Sirajuddin Aziz is a seasoned banker having extensive banking exposure with in Pakistan and abroad to this professional credit. He has worked for different organizations in Pakistan, China, Hong Kong, UK, Nigeria and UAE. He is currently the President and Chief Executive Officer of Habib Metropolitan Bank. Prior to this, he has served as the Chief Executive Officer of Bank Alfalah from…
[dropcap]W[/dropcap]hile Iran and Turkey have expressed their desire to join the China-Pakistan Economic Corridor (CPEC) project at the 13 ECO Summit held in Pakistan, the other member countries were also willing to be the part of CPEC—a project of the century. Prominent among the participants of the ECO Summit were including Iranian President Hassan Rouhani, President of Azerbaijan Ilham Aliyev, Turkish President Recep Tayyip Erdogan, Prime Minister of Kyrgyzstan Sooronbay Jeenbekov and Tajikistan President Emomali Rahmon appreciated Pakistan initiatives for promoting integration with an economic vision to develop an effective economic bloc of the ECO member countries. The infrastructure development…
Encouraging policies, infrastructure and one-window operation facility can pull the investors Interview with Mr Mohsin Bakar Sheikhani — Chairman, ABAD [box type=”shadow” align=”” class=”” width=””]Profile Mohsin Abu Bakar Sheikhani, is the Chairman of Association of Builders and Developers (ABAD) 2017. He is the son of a well known builder and a distinguished member of property developers fraternity and known for quality projects in Karachi. Mr. Mohsin Sheikhani has also served the ABAD and whole builder community as the Chairman of the organization for the term 2013-14 and 2011-12. He is the Director of Hina Housing Projects Private Limited and has…
POLITICAL NOISE KEEPS THE INDEX AWAY FROM 50,000 TARGET KSE 100 Index dipped by 72 points to close in red at 49,623 levels on the last trading session of the week on Friday. In fact the political noise forced the investors to prefer to book profits on the back of heightening of the political noise which kept the index away from the target of 50,000 levels. The investors also have a leaning to strengthen their position of off-loading their positions prior to a two-day gap ahead which resulting in selling pressure amid market volume of 392 million all shares. Actually…
Interview with Mr. Salman Iqbal – CEO, ARY Digital Network PAGE: WHAT WAS IN YOUR MIND BEFORE JOINING PAKISTAN SUPER LEAGUE AND TO OFFER HIGHEST BID TO OWN KARACHI KINGS SQUAD? SALMAN IQBAL: Cricket is an obsession for me and my family as well, you may recall that my father and his elder brother were first to boost cricket in Sharjah in 80s and since then we are promoting cricket within Pakistan and outside the country. The League matches under the flagship of Pakistan Super League (PSL) was an opportunity for us to sponsor a team and in the current tournament…
Grace W. Shelton Consul General of the US in Karachi while emphasizing the significance of design evolution in the modern world has said the art of designing is more than aesthetic as it is the design that adds value to economic and social development. The US diplomat was peaking at the concluding session of the international design conference organized by Indus Valley School of Art and Architecture (IVS) in collaboration with Kennesaw State University (KSU), Georgia, USA. The conference was sponsored by US State Department under the Higher Education Academic Exchange Partners Program between IVS and KSU. This partnership was…
POLITICAL NOISE RESTRICTS KSE-100 INDEX UPWARD MOVEMENT The heightened political noise as well as the Panama episode being heard by the apex court continued to have an adverse impact on the trading activity reflected in the stagnant market activity dragging the KSE-100 Index by 54 points on the last trading session of the week on Friday. The Index closed in red at 49,007 amid extremely unimpressive market volumes of 275 million all shares as most of the investors including foreign institutional portfolios preferred to book profits. In this backdrop volatility gripped the Index during the week and kept it from…
[dropcap]P[/dropacp]akistan has faced numerous challenges over the years, in ensuring steady supply of energy resources for the industrial, commercial and domestic sectors to function smoothly. However, Pakistan remains to be blessed in terms of natural resources, which can be used to generate abundant, safe and cheap energy in the long run. Both the government and private sector has taken great initiatives to build numerous large-scale ventures to overcome the prolonged energy-crisis in the country. These projects are long term, as well as short term, based on; solar, hydel, hydrocarbon and renewable energy resources. As of every year, the most diligent…
Interview with Mohammed Sohail—Chief Executive Officer, Topline Securities [box type=”shadow” align=”” class=”” width=””]Profile Mr. Sohail has almost 22 years experience of Pakistan’s capital markets, research and broking. He was awarded ‘Best Analyst’ for two years (2003 and 2004) from the CFA Association. He was the first analyst in Pakistan to get this award. For the first time in Pakistan, Asiamoney awarded Mr. Mohammed Sohail the title of Best Salesperson in Pakistan in its Brokers Poll for sixth consecutive year (2011-2016). He is a Certified Director of Pakistan Institute of Corporate Governance (PICG). Mr. Sohail was also elected as Director of…
TERROR ATTACKS DEPRESS MARKET SENTIMENTS; BULLS LIKELY BACK IN THE RING KSE-100 Index again dropped by 212 points to close in red at 49,375 levels amid a thin market volume of 373 million in the last trading session of the week on Friday. According to market analysts the depressed market activity is attributed to, the two major terrorist attacks first in Lahore and later at the Shrine of Hazrat Lal Shahbaz Qalander at Sehwan Sharif in Sindh where almost 100 visitors lost their lives and hundreds were injured as the major reason affecting the market sentiments. However, market analysts said…
[dropcap]P[/dropcap]akistan has been a victim of the ever-prolonged energy-crisis, witnessing unsteady supply of energy resources for the industrial, commercial and domestic sectors. The country is hence in a need of a reliable energy resource and renewable energy technologies and in this regard especially solar is an ideal solution. Reon Energy Limited, the best industrial and commercial clean energy specialist in the country, is driven to create an energy future that is affordable, accessible and sustainable. “Solar energy is the most sustainable choice for businesses and can play a vital role in the country’s future energy-mix. Reon has the experience, know-how…
[dropcap]T[/dropcap]he Abraaj Group, a clean energy generation company, has entered into a definitive agreement to acquire majority stakes in Jhimpir Wind Power project. It may be noted that initially JPL Holdings (Pvt) Limited wholly-owns a 50MW wind power project in the Jhimpir wind corridor in Southeast, Pakistan. In this wind corridor of Jhimpir having a predictable wind speed some five wind power projects are already in power generation connected to the national grid. The Jhimpir wind corridor is an established area for wind projects with 550MW+ of capacity already operational and a further 1 GW+ added under the construction and…
[dropcap]I[/dropcap]f the quality and credibility of locally produced brands is taken as the criterion of the successful brands, Engro is one of the business houses which has successfully tapped the local market as well as attract Foreign Direct Investment (FDI) through partnership with global players. Recently, Engro Corporation (ECORP) has entered into an agreement with FrieslandCampina for the sale of 51 percent of the Company’s shareholding in Engro Foods (EFOODS) in one of the single largest private sector Foreign Direct Investment (FDI) in Pakistan amounting to a total investment of US$450 million (430 million euros). FrieslandCampina is one of the…
Wins best sustainability report award at 6th CSR Awards 2017 [dropcap]I[/dropcap]t was the turnaround achieved by K-Electric management, which attracted the Shanghai Power Company of China to acquire the management control of K-Electric so far the best brand in power generation and distribution sector. The deal attracted $1.8 billion of Chinese investment and the credit certainly goes to the management to make K-Electric an attract investment for the foreign investors. Recently, the Professionals Network has conferred the Best Sustainability Report Award to K-Electric during the 6th Corporate Social Responsibility Awards 2017. Zehra Mehdi, Deputy Director ESG & Sustainability received the…
PSX BENCHMARK KSE-100 MARGINALLY DOWN; FOREIGN INVESTORS PORTFOLIO REGISTERS AN OUTFLOW OF $15.3M SHARES KSE-100 index suffered a fall of 110 points in the face selling pressure and profit-taking, which led the index to close in red at 49,555 levels on the last trading session of the week on Friday. In fact, the week started with a steep decline, which was later arrested by some support being provided by big sectors on the back of positive news. Index closed the week at 49,556 points, down marginally by 0.8% WoW. Foreign Investors Portfolio Investment (FIPI) registered net outflow of US$15.3m shares.…
[dropcap]T[/dropcap]he eye-catching growth of Pakistan Stock Exchange bouncing above the psychological barrier of 50,000 levels, which is considered as an immediate impact of Chinese investments through a consortium of three Chinese brokerage houses, there seems a series of developments in the pipeline including launching of Pakistan Development Fund (PDF) worth Rs150 billion. Besides offering of 20 percent shares to the public to ensure peoples participation in the Pakistan Stock Exchange. Chinese Ambassador, Sun Wei Dong present at the Pakistan Stock Exchange (PSX) for signing ceremony for 40 percent stake in PSX said that Chinese will share their experience with PSX…
CHINESE INVESTMENT TRIGGERS SUBSTANTIAL GROWTH IN PAKISTAN STOCK MARKET Chinese consortium to appoint its directors at the board of PSX soon The bench mark KSE-100 Index managed to post a new high and closed well above 50,000. The current formation of historic level indicates that Index could continue this upside move with the exception of intermittent correction due to heavy buying in the coming week. Although the Index dipped slightly by 228 points on the last trading session of the week after rallying to the all-time high beyond 50,000 levels dipped slightly below 50,000 levels as the profit making drags…
Interview with Captain Anwar Shah – former DG Ports [box type=”shadow” align=”” class=”” width=””]The Karachi Dock Labour Board (KDLB) finds its origins in the pre-mechanized era of ship handling when the loading and discharge of cargoes from freight vessels was done by way of physically handling of the cargoes. Traditionally, ships’ cargo was hoisted in large cargo nets that were hoisted under a crane’s hook and first lifted and then lowered into place either in the vessel’s hatch or on the quay deck. The dock labour would physically carry these pallets, bales, barrels, cases and sacks onto or off the…
PAKISTAN STOCK EXCHANGE POSTS NEW ALL-TIME RECORD SURGE; MARKET MAY SEE UNPREDICTABILITY Pakistan Stock Exchange (PSX) remained top leading stocks in Asia as its benchmark KSE-100 Index has crossed all-time high barrier in the history of Pakistan stocks by closing above 49,000 barriers, which is another all-time and historic mark in the country’s capital market. For the week ahead, instability to remain in the market after some major decisions could be expected like Panama case as well as US President Donald Trump to take charge. These two happenings will keep investors to remain cautious. The market persists bullish trend throughout…
RECORD UPWARD TREND PERSISTS; INVESTORS TO SEE CAUTIOUS MOVE Activity in the wider Pakistan Stock Exchange (PSX) remained bullish throughout the week. The KSE-100 Index kept moving upward and stay all-time favorite market. This trend invite correction in the market in the due week as analysts expect volatile and range-bound trading with investors looking for institutional flows to gauge market direction. Analysts see the coming week relatively dull as ongoing proceedings on Prime Minister’s family cases related to corruption allegations may kept most investors cautious. During the week, Panamagate case, the crude oil prices, the announcement of inflation number, the…
All-time low interest rates should trigger consumer finance growth [dropcap]I[/dropcap]t is certainly an impressive achievement that the digital economy has emerged as an unstoppable giant that was growing at 10 percent a year, more than triple the rate of overall global economic growth while the online spending scaling up consumer finance in Pakistan. Although the interest rate is at four decades low, which was expected to have a booming effect on consumer finance, car and home financing, however, it could gain the momentum 2005 when there was a mad rush in demand of private loans for different segments in the…
KSE-100 INDEX EYEING 48,000 LEVELS — A HISTORIC MILESTONE KSE-100 Index opened the week on a positive note and remained bullish throughout the last trading session of the week keeping its upward movement with a gain of 140 points to close in green at 47,806 levels in the last trading session on Friday. The bullish momentum and the market behavior is a quite indicative that the Index is looking to achieve an all-time high 48,000 levels, which seems to be quite within reach in a couple of next trading session. The closing of the Index above critical level of 47,600…