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Rupee, o/n rates flat; Pakistani stocks down
May 16th
ISLAMABAD: Pakistan stocks dropped on Wednesday, with the market wary of selling by foreign investors given the bearish trend in the region, dealers said.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 1.63 per cent, or 232.6 points, lower at 14,081.07, with a volume of 110.6 million shares, compared to More >
Stocks tumble as Indian rupee hits record lowest
May 16th
MUMBAI: Wednesday to their lowest levels in over 4 months as the India rupee dropped to a record low reinforcing uncertainty about the country’s fiscal and economic fundamentals at a time of steep global risk aversion.
The rupee fell to a record low 54.52 against the dollar surpassing the previous record More >
Pakistani Rupee ends flat; o/n rates up
May 7th
KARACHI: In the currency market on Monday, the Pakistani rupee closed almost flat at 90.74/79 to the dollar, compared with Friday’s close of 90.76/78.
The rupee has been supported by remittances, which rose 21.45 per cent to $9.73 billion in the first nine months of the 2011/12 fiscal year, compared with More >
US Treasury to sell $5 bn of American International Group (AIG) stock
May 7th
US government assistance for AIG, which in 2008 was swept into a liquidity crisis by its exposure to credit default swaps on mortgage-backed securities, has amounted to more than $180 billion. – Reuters photo
WASHINGTON: The US Treasury is to sell $5 billion worth of shares in American International Group Inc. More >
Financing the revenue gap: Provinces refuse to bail out federation from financial trap
Mar 9th
Refusal from provinces will further spoil Pakistan’s case with the IMF which has suspended a $11.3b bailout programme since July 2010.
ISLAMABAD: In another setback to the ailing economy, the four provincial governments on Wednesday said they cannot save Rs167 billion from their budgets to finance the gap between income and More >
Textile exports surge 26% despite power cuts
Mar 7th
Exports were recorded at $6.28 billion in July to December 2010 against $4.995 billion exports recorded in the same period last year. PHOTO: FILE
ISLAMABAD: Textile exports surged by 25.79 per cent during the first half (July-December) of the current fiscal year compared to the same period last year, despite challenges More >
Telecom: IT secretary appointed
Mar 5th
The government has appointed Abdur Rauf Chaudhry secretary of the Ministry of Information Technology and Telecommunications on temporary basis.
KARACHI: The government has appointed Abdur Rauf Chaudhry secretary of the Ministry of Information Technology and Telecommunications on temporary basis.
During his tenure, he will make efforts to resolve the issues of Universal More >
Promotion of legal trade: Traders in Chaman join hands
Feb 27th
New fruit and vegetable market to bring in revenue.
LAHORE: A fruit and vegetable wholesale market is under construction at the Chaman bypass in Qila Abdullah district, which will provide an avenue to domestic and international traders for doing business with Afghanistan, Russia, central Asian states and eastern European countries, market More >
Forex reserves jump to record $17.28b
Feb 26th
Reserves held by the State Bank of Pakistan (SBP) rose to $13.66 billion from $13.44 billion in the week ended Jan 15. PHOTO: FILE
KARACHI: Foreign exchange reserves rose to a record $17.28 billion in the week ended January 15, up from $17.09 billion in the previous week, the central bank More >
Market watch: Stocks, volumes fall in volatile session
Feb 26th
KSE-100 ends down 81 points
KARACHI: Stocks closed down on Wednesday in a volatile session with the index swaying between red and green at regular intervals, according to analysts.
The Karachi Stock Exchange benchmark 100-share index ended 0.64 per cent or 80.55 points lower at 12,577.61.
Local institutions opted to book profits ahead More >
Shares nosedive: Bangladesh halts trading again
Feb 26th
DHAKA: Bangladeshi regulators halted trading at the plunging Dhaka Stock Exchange (DSE) on Thursday after it lost 8.6 per cent in six minutes, the fastest fall in the bourse’s history.
The market lost 599.76 points to 6,313.62 soon after trading started at 1:00 pm (0700 GMT).
It was the fourth time in 10 More >
World Congress: Easypaisa nominated for GSMA Global Mobile Awards
Feb 25th
KARACHI: Telenor’s Easy paisa – the service that had Rs1 billion worth of transactions in less than a month – has been selected as a nominee for the GSMA Global Mobile Awards, according to Telenor officials.
The GSM Association (GSMA) is an association of mobile operators and related companies devoted to supporting More >
Be positive: Negative perception limits investment in stocks
Feb 25th
IGI launches portal to provide online access to investment information.
KARACHI: Negative perception about investing in domestic stocks is limiting prospect of economic growth, said IGI Investment Bank CEO Syed Javed Hassan.
Responding to questions from media representatives at the launching ceremony of the bank’s Fund Select Portal here on Thursday, Hassan More >
European Union ban on Pakistani seafood politically motivated: official
Feb 25th
Karachi
The ban on seafood imports from Pakistan by the European Union appears to be “politically motivated” as facilities and hygienic conditions at the Karachi Fish Harbour are much better as compared to the fish harbours of the neighbouring countries.
“The international community should reject the negative impression and propaganda against Pakistani More >
Solve power crisis, say industrialists
Feb 24th
Kaira for fair distribution of gas among provinces
LAHORE: Industrialists in Punjab on Thursday urged the government to find an early solution to the power shortage as many leading industries are on the verge of collapse.
The increasing bank loan burden due to 18 per cent mark-up is crippling the 6,600 industries More >
Market watch: Karachi bourse follows regional market slump
Feb 23rd
KSE-100 index falls 1.32 per cent. PHOTO: AFP
KARACHI: Bears continued to dominate proceedings at the stock market on Thursday with selling pressure in most of the blue chips and other noticeable stocks.
The Karachi Stock Exchange benchmark 100-share index ended 1.32 per cent or 165.74 points lower at 12,411.8.
Downward momentum in More >
Global market: OGDCL’s equity-linked bonds to raise $1 billion
Feb 22nd
Petroleum ministry allows offshore sale of bonds of the oil sector’s giant
ISLAMABAD: In a bid to finance the budget deficit, the petroleum ministry has allowed the Privatisation Commission to sell equity-linked bonds of Oil and Gas Development Company (OGDCL) which can raise $1 billion from the international market.
In a briefing More >
SECP registered 23 companies last month Foreign investment
Feb 20th
The Securities and Exchange Commission of Pakistan (SECP) registered 23 companies with foreign investment in December 2010, according to an SECP press releas
KARACHI: The Securities and Exchange Commission of Pakistan (SECP) registered 23 companies with foreign investment in December 2010, according to an SECP press release.
Additionally, three foreign-based companies were More >
Automobile sector: Policy for new entrants prepared
Feb 17th
Production of smaller vehicles with engine capacity of 800cc to 1,000cc will be encouraged which might affect sales of existing market leaders, according to experts.
KARACHI: The federal ministry of industries and production has assured Japanese car assemblers in Pakistan that they won’t be harmed by the new entrance policy for More >
Mutual funds appreciate by 12 per cent
Feb 17th
Equity category may outperform stock index, says analyst
KARACHI: The size of the mutual funds industry appreciated 12 per cent in the last six months (July-December) to stand at Rs223 billion. The industry showed signs of recovery on the back of demand witnessed in the money market funds category as well More >
