Tag: demand

  • Pakistan rupee recovers by one paisa against US dollar

    Pakistan rupee recovers by one paisa against US dollar

    According to the State Bank of Pakistan (SBP), the Pakistani rupee (PKR) strengthened by Rs0.01 against the US dollar in the interbank market on Tuesday.

    The local currency managed to recover and closed at Rs284.96.

    In contrast, the dollar is being traded at Rs290 in the open market.

    It’s worth noting that the rupee had reached a record low of Rs298.93 against the US dollar last week.

    Market speculation suggests that the rupee’s gains were further supported by reduced demand for foreign currency, resulting from a significant import payment between May 9 and 11, coinciding with the period of heightened political drama in the country.

    Reports indicate that the substantial dollar payment for imports had been arranged by the oil refineries. Oil imports constitute approximately one-fourth of the total import bill for a month.

    Earlier, the rupee experienced a sharp decline of 4.71 per cent or Rs14.09 in just two days (May 10-11), hitting a record low of Rs298.93/$ due to worsening political turmoil and deteriorating law and order following the arrest of former Prime Minister Imran Khan. However, the rupee managed to recover some of its losses after Khan’s release on May 12, as ordered by the court.

  • Motorcycle dealers reportedly demanding Rs40,000 extra for instant delivery of Honda CG125

    Motorcycle dealers reportedly demanding Rs40,000 extra for instant delivery of Honda CG125

    The market for new and used motorcycles in Akbar Road, Karachi, which is the largest in the country, is experiencing a shortage of Honda CG-125 bikes at the showrooms of the company’s authorised dealers. The dealers are reportedly not accepting fresh bookings from customers due to thin supplies from the assembler.

    Non-Honda dealers are reportedly demanding a price of Rs252,000-255,000 for instant delivery of the CG-125 bike, which is Rs40,000 more than the company’s price of Rs215,000, despite not having the bike available in their showrooms.

    Some unauthorised dealers have already acquired a large number of CG-125 motorcycles from authorized dealers, apparently under an understanding to jointly make a windfall. Some dealers have cited Afghan nationals accompanied by Pakistanis as the reason for the stock shortage. However, 70cc bikes are readily available for instant delivery at showrooms.

    According to Dawn, market sources have stated that local bike assemblers exported 25,000 units of 70cc-125cc bikes over the past 11 months, in which Honda 125cc holds the lion’s share. They also believe that the actual volume of shipments of two-wheelers is more than the official export by the companies after individual purchases of bikes by customers for Afghan markets.

    Afghan businessmen are importing Pakistan-assembled motorcycles in large numbers daily through the Chaman border amid booming demand for two-wheelers in Afghanistan. The market for Honda CG-125 bikes is experiencing price hikes and shortages across the country, including Quetta and other cities of Balochistan.

  • Samsung is getting out of LCD business by the next month

    Samsung is getting out of LCD business by the next month

    Samsung Display has decided to cut its LCD production unexpectedly by July 2022. The stoppage was originally planned for December, but it can now take place as soon as the end of this month.

    According to insiders, Samsung’s competition has been quite harsh, and the company wanted to avoid further losses.

    Keeping in view previous Display Supply Chain Consultants (DSCC) reports, the price of LCD panels is only 36.6 per cent of what it was in 2014, when production was at its peak. BOE, a Chinese display manufacturer, and AU Optronics, a Taiwanese company, are also offering lower prices to customers.

    Samsung had planned to exit the LCD business in 2020, but lockdowns caused by the COVID-19 pandemic increased demand for home entertainment on low-cost devices like affordable TVs and smartphones. As a result, Samsung was forced to postpone this significant step.

    Samsung officials have yet to respond to a request for comment, but we expect to learn more about the shutdown’s financial implications in July when the tech giant releases its Q2 earnings report.

    As per the Korea Times, people’s interest in LCDs has waned, while they are increasingly drawn to display technologies such as Quantum Dot and OLED.

    A US market research firm also revealed the LCD panel price index has fallen dramatically since late 2021 and is now down 60 per cent year on year.

    Moreover, in recent years, smartphones have also shifted from LCD displays to OLED displays.