SBWire

We remain positive about the Pakistani economy, emphasising the strength of the recovery, the beneficial impact of IMF-supported reform initiatives, measures to overhaul the energy sector, and the upcoming privatisation programme. We are maintaining our existing growth outlook - GDP estimated to grow by 3.4% in fiscal year 2013-14 and forecast to accelerate to 4.0% in 2014/15, but believe that risks have tipped somewhat to the upside.

We maintain our cautious view for China's shipping sector. While the outlook for China's traditional economic growth drivers such as heavy industry and real estate construction remains cloudy, the outlook facing the more consumer-focussed industries is relatively strong over the medium term. Overall, though, as the traditional sectors remain the dominant drivers of the economy, we remain cautious in our real GDP growth outlook. We expect the economy to expand by 7.1% in 2014, before slowing to average 6.1% over the next five years and caution that there are downside risks to this forecast.

Magline, Inc. has developed innovative lightweight route distribution solutions for the last 100 yards of delivery to end users. Technology has changed much of the supply chain in logistics.

Our outlook for the Iranian freight transport sector in 2014 is that the country will begin to see a return to growth in volumes, in part due to base effects, and in part due to the more moderate stance adopted by new President Rouhani, and the loosening of sanctions against the country. Although the ports and shipping continue to face significant challenges, rail freight continues to see strong investment.

Oman continues to develop into a regional powerhouse for the shipping and transhipment of dry bulk goods such as iron ore. To this end a new port is being constructed at Duqm and new cargo terminals at Salalah and Sohar. The new Duqm port will also boast a new oil refinery. Further port developments include the announcement that all cargo operations are to be moved from the Muscat port of Sultan Qaboos to Sohar by the end of 2014. All of this is aided by Oman's position on the Arabian Sea, outside the Gulf, enabling it to offer shorter shipping lines than ports within the congested body of water. On the macroeconomic side, growth in the Omani ports sector will be supported by expanding GDP and rising private consumption.

Although the domestic autos market in Serbia is far from developed, we believe the production segment is set to establish its reputation as a highly competitive manufacturing base in the Eastern European region over the coming years. Its proximity to high-potential markets such as Russia, improving export ties with the EU and the hefty investments from Fiat will be key factors helping the production segment recover to pre-1999 levels.

The Polish recovery is strengthening, and has led us to upgrade our forecasts for this year and for 2015. One of the key drivers is growing external demand, which has boosted exports and begun to reduce unemployment.

Manila International Container Terminal (MICT) is set to hold the top position in Philippines' maritime sector in terms of container throughput in 2014, with BMI forecasting the continuation of steady growth.

The port of Constantza is forecast to see growth both in terms of both total tonnage and container throughput in 2014 in line with Romania's continued economic recovery and eurozone's projected return to growth.

We forecast that Iran will return to economic growth in 2014, with real GDP set to expand by 2.8% following our 2013 estimate of a 2.9% contraction. Container shipping also is set to take tentative steps to recovery. Risks to the upside to both of these forecasts are presented by the growing rapprochement between Iran and the international community. However, the country's shipping sector has been impacted severely by sanctions in recent years - another hit came in 2013 following the introduction of strengthened US sanctions on July 1, which resulted in all major shipping lines ceasing to call at Iranian ports. At the time of writing in April 2014, it appeared that shipping lines would be returning to Iran as rapprochement continued. However, this had not been confirmed and there were no indications as to when it was expected to happen.

We maintain our view that growth in Venezuela will be lacklustre in 2014, as high inflation suppresses household purchasing power, a poor business environment constrains private sector investment, and stagnant oil production caps growth in net exports. We are forecasting growth of just 1.2% in 2014, above our 2013 estimate of 0.8%, but well below Venezuela's average over the past decade of 5.8%.

Vehicle sales in Slovakia decreased 3.8% in 2013, on the back of weakness in the passenger car and commercial vehicle (CV) segments. In 2014, we forecast an upswing in total sales of 9.4% as the economy recovers somewhat.

Vehicle sales in Italy declined 7.6% in 2013 to 1.4mn units on the back of a weak macro environment. This came from a 7.0% drop in passenger car sales and 13.3% fall in the commercial vehicle (CV) segment. In 2014, we expect to see a resurgence across the market due to low base effects and pent-up demand and accordingly forecast 3.3% growth in vehicle sales over the year.

BMI has become increasingly bearish on the near-term outlook for domestic vehicle sales and production in Russia. A combination of sluggish demand for new cars and a deteriorating economic backdrop, coupled with increased tensions with the West following Russia's annexation of Crimea in March 2014, mean that we continue to target declines in both sales and production over 2014 .

The latest certificate of entitlement (COE) bidding exercise, which closed on May 7 2014, saw significant price declines in most vehicle categories, with only the commercial vehicle (CV) segment registering an increase. As the accompanying table highlights, small car COEs (1,600cc and below) saw the biggest fall in prices from SGD71,335 in the previous bidding round to SGD60,002 in this latest round.

Delta Van Lines, well known as a reliable Canada state to state moving company, now offers fast and efficient moving services. Their unbeatable service makes them the most trusted name in the moving industry. Delta Van Lines, always setting the highest standards of quality meeting your relocation needs. They accommodate their customers by providing them outstanding packing services, punctual arrivals, and affordable rates.

Moogento, a company that creates top-quality Magento extensions that help people customise Magento PDFs, their invoices, packing sheets and much more, has just announced a couple of upgrades to two of their most popular products.

Bondi Removals, being a leading Removalist in Sydney is now offering local and interstate furniture removals services in Sydney at affordable prices. They operate actively in eastern Sydney suburbs such as Vaucluse and Randwick. One gets absolutely safe removal with Bondi removals. In order to make things more secure for the reallocation, they provide good quality packing boxes and other materials that facilitate the smooth reallocation of furniture. The company also offers other important packing services to the clients. They provide wholesome packing services to clients that include packing and thus save their clients from wasting their valuable time.

Performance Team is a California based renowned logistics service company that has been in business for the last 27 years and has earned a reputation for offering quality consolidation, deconsolidation, transportation and distribution services at competitive prices.

California, USA based Performance Team has earned a formidable reputation in offering superior and cost effective logistic and deconsolidation solutions to its clients. The logistics and deconsolidation company of great repute offers plethora of services that substantiates the moving experience of the client. With a dedicated fleet of well-maintained trucks and tractor trolleys, the logistics company serves the cause of the clients to a nicety.

Limousines are known for their classy and stylish looks. And those who arrive in a limo turn heads of people nearby. Gone are the days when limos were only used by the Hollywood elite, the rich and famous, limos are now available for all thanks to the affordable prices with San Fernando Valley (Los Angeles) based Valley limo service.

Stockport-based heavy haulage firm Chris Bennett Ltd have announced that all of their drivers have completed their required hours of CPC training well in advance of the upcoming September 2014 deadline.

We are forecasting real GDP growth of 6.3% for the Philippines in 2014, as we expect domestic demand to remain strong and export sector growth to see a modest rebound this year. While we are optimistic about its growth prospect, we remain wary of any renewed global volatility that will pose downside risks to our growth forecast.

BMI View: Lebanon benefits from a sizeable healthcare sector where the costs of health services and drug prices are generally high. The private sector accounts for about 90% of Lebanon's hospitals and pharmacies, driving the prescription of high-value pharmaceuticals. However, the government's commitment to cost containment measures continues as it announces further price reductions for an increasing selection of medicines, impacting overall market value. Tension between Lebanese political blocs concerning the ongoing civil war in Syria presents significant risks to both political and economic stability, contributing to factors which impede the market's potential.

BMI maintains its cautious outlook for the Argentine freight transport sector. A more drastic slowdown than we previously expected in various high frequency indicators have led us to revise down our forecast for Argentine real private consumption and gross fixed capital formation growth in 2014. As a result, our real GDP growth forecast has fallen to 1.2% from 2.2%, and we acknowledge that significant downside risks remain. This forecast implies an even greater slowdown from 3.0% real GDP growth in 2013. The main driver of the slowdown is the impact of the country's January 23 currency devaluation, which sent inflation expectations soaring. As a result consumer confidence has plunged.