Due to its legacy as an important colonial port city, Karachi is scattered with innumerable examples of beautiful Victorian and colonial architecture. However, a lot of it is in a state of disrepair and is threatened with decay and destruction due to unchecked commercialism and misuse. These pages attempt to bring the classical heritage of Karachito light and discuss the threats presently faced by it. While the inner and historic core city of Karachi has dilapidated and decayed beyond recognition, losing its former glory and splendor, Karachi overall as a port city, has turned out to be a fine city with great economic prospects. Presently Karachi is a bustling port city of about 14 million people and is the financial and industrial center of Pakistan's economy. The city has very modern port facilities that handle the bulk of the trade of Pakistan and the landlocked Central Asian countries.
There was a brief period where violence dominated the life of Karachi (12th May, 2007) , but like any other great city, this transition period has taken a back seat to opening new horizons and new prospects for this ever-expanding, ever-evolving city. This city of ample sunshine and cool sea breezes is also the melting pot of Pakistan where people from all provinces come to make a living.
After a week of Global Equity fall world over KARACHI STOCK EXCHANGE has showed quite a resistance. On Friday 28 July, 2007
DJ Industrial closed at 13265.47 below -208.10 points
FTSE 100 6,215.20 -36.00 points
NASDAQ 100 1,956.19 -30.41 points
S&P 500 1,458.95 -23.71 points
NIKKEI 225 17,283.80 -418.3 points
Bombay Sensex 15,234.57 -541.74 points
KSE 100 13,630.50 -52.8 points
The coming week seems to be sluggish at KSE & I would advise investors to take caution in such precarious levels of Global Indices. The IPO of HBL seems to be a good opportunity to make good returns on investment after its market price increased on Friday 28-7-07 despite of bearish sentiments. The earning season is right on the corner with announcement of FFBLresults down by 34% YoY
The political condition in the country has again raised concerns for investors. The blast at a small restaurant and Law & order situation at LalMasjid in Islamabad along with Bugti's death has increased worries for political unrest in the country for another couple of days. Investors can now hope for better with the success of so called meeting of Musharraf with BenazirBhuto which is said to take place in Abu Dhabi.
At least for now, one should book its profits & should cautiously keep an eye on opportunities the bearish sentiments will bring as the economic outlook is still on a brighter sight.