Posted on May 30, 2009
ISLAMABAD: The Islamabad stock market closed in the negative territory on Friday as investors booked profits. The ISE 10-share index dropped by 37.30 points to close at 1,695 points from its previous level of 1,732.30 points. Of the total 121 participant companies, 48 climbed upward and 73 turned negative. However, total turnover increased to 1.310 [...]
Posted on May 29, 2009
LAHORE: The Lahore Stock Exchange (LSE) closed in the red zone on Friday. The LSE 25-share index declined by 17.26 points to close at 2,160.60 points as against its opening at 2,177.86 points. The volume of the market remained at 16.87 million shares, which was 0.39 million shares more than Thursday’s turnover of 16.48 million [...]
Posted on May 29, 2009
By Mushfiq Ahmad and Arshad Hussain
KARACHI: Bidders are likely to offer between $150 million (Rs 12 billion) and $200 million (Rs 16 billion) for the acquisition of businesses of Royal Bank of Scotland (RBS), banking sources and market players told Daily Times here on Friday.
Sources further said that MCB Bank and Habib Bank are likely [...]
Posted on May 29, 2009
KARACHI: The benchmark KSE-100 Index of Karachi Stock Exchange (KSE) witnessing a mixed trend on Friday closed 12 points down to 7,276. Although the Index set off with positive energy in the morning, it failed to sustain the gains in the second session due to selling in energy stocks. The market turnover was registered at [...]
Posted on May 29, 2009
ISLAMABAD: The government has decided at least 10 percent power tariffs increase in the upcoming financial budge-2009-10. Federal ministry of water and power spokesman told Geo News that power costing government Rs8.37 per unit, while the customers were being charged on average at Rs5.60. Thus the subsidy on power given to the people during the [...]
Posted on May 29, 2009
KARACHI: State Bank of Pakistan (SBP) has provided Rs21.40 billion for eight days at the rate of 12.91 percent to the banks for tiding over the liquidity crunch in the banking system. Money market dealers said that that Central Bank resorted to open market operation for buying back the T-Bills from the banks for removing [...]
Posted on May 29, 2009
ISLAMABAD: The announcement of the National Budget for the financial year 2009-10 is scheduled for June 13 (Saturday). “All the budgetary proposals and recommendations received by the ministry of finance from the various stakeholder have been sent to Federal Board of Revenue (FBR) for the finalization of the proposals and would be completed by May [...]
Posted on May 29, 2009
ISLAMABAD: Chairman of Tea Importer Association of Pakistan, Muhammad Hanif Janoo called on Federal Minister for Commerce, Makhdoom Amin Fahim and conveyed him the concerns over continuous increase in import of tea through Afghan Transit Trade. He maintained price of tea was continuously rising day by day in the international market, because of low crop [...]
Posted on May 28, 2009
ISLAMABAD: Federal Minister for Trade Amin Faheem said Pakistan wants to boost trade relations with Indonesia. Talking to media after a meeting with Indonesian ambassador, Faheem said trade agreements with Indonesia would be finalise soon on priority basis. Indonesian ambassador on this occasion said Indonesia extending full cooperation to Pakistani government and nation in war [...]
Posted on May 28, 2009
ISLAMABAD: International Monetary Fund (IMF) Thursday said that the unemployment rate is likely to increase in Pakistan, as the direct investment in the country and foreign remittances have gone down. Talking to media, IMF Country Director said the third installment of loan will be issued to Pakistan in July; whereas, Pakistan wants more loans in [...]
