Here is good news! Corporate earnings in the first nine months of this fiscal year remained robust despite flat economic growth, according to a recent Dawn report based on data compiled by Arif Habib Ltd. Combined earnings of the representative firms of corporate Pakistan rose 8.8 per cent year-on-year to Rs877.6 billion during July 2022-March 2023. The annual increase in after-tax profit in Ja
Stealing side-view mirrors, batteries, tyres and other accessories of vehicles, particularly of the luxury cars, seems to be a ‘petty crime’ for police but the citizens are paying a heavy price for it as such incidents have increased manifold in recent times after several new groups of the criminals sprung up in the provincial capital. The criminals target the cars and other vehicles parked in
Amid the tight fiscal position, the Centre is considering ending financing provincial development projects, and instead focusing on five strategic sectors — exports, energy, equity, e-Pakistan and environment (5Es) — in the next year’s Public Sector Development Programme (PSDP). A senior government official told Dawn that the planning and development ministry had moved a summary to the prime
The stock market witnessed a relatively flat trading session on Thursday with the KSE-100 index hitting an intraday high of 248.41 points. Arif Habib Ltd said investors opted to cherry-pick stocks with strong fundamentals given the attractive valuation currently on offer in the market. A rally was observed in cement and IT sectors although profit-taking took place during the second half of t
The government raised Rs705 billion through an auction of market treasury bills despite Rs1.195 trillion bids offered mostly by banks on Wednesday. The bidding trend showed that banks were saturated with liquidity and willing to park maximum in the government papers. The government remained around its target of Rs750bn but the accepted amount was much higher than the maturing amount of Rs630bn.