12092016Fri
Last update: Fri, 09 Dec 2016 12pm

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Major international banks are seriously exploring whether to shift operations from London to Paris in the wake of Brexit, according to a senior official at France's markets regulator. "Large international banks... have already undertaken real due diligences and we have received a lot of practical questions regarding the way they are going to be managed from our perspective, with their relationship with the French regulators," Benoit de Juvigny, secretary general at the AMF, told BBC television late Wednesday.

Companies from Australia, China and Qatar have purchased a majority stake in the gas distribution business of Britain's National Grid, the group announced on Thursday. The international consortium, led by Australian investment bank Macquarie and including sovereign wealth funds from China and Qatar, agreed to buy 61 percent of National Grid Gas Distribution (NGGD), it said in a statement.
Pakistan Stock Exchange (PSX) Thursday witnessed another bullish session on the back of continuous buying by local investors and institutions. The benchmark KSE-100 index surged by 246.99 points to close at new high of 44,741.98 points. Trading activity, however, remained low and the daily trading volumes at the ready counter decreased to 368.243 million shares as compared to 470.905 million shares traded Wednesday.
Pakistan Stock Exchange (PSX) Thursday witnessed another bullish session on the back of continuous buying by local investors and institutions. The benchmark KSE-100 index surged by 246.99 points to close at new high of 44,741.98 points. Trading activity, however, remained low and the daily trading volumes at the ready counter decreased to 368.243 million shares as compared to 470.905 million shares traded Wednesday.
Pakistan and China have reportedly failed to evolve consensus on a methodology to further expand Free Trade Agreement (FTA) after both sides have dissimilar claims of impact on the bilateral trade, well-informed sources in Commerce Ministry told Business Recorder. This was the crux of the second round of the second phase negotiations of China-Pakistan FTA (CPFTA) held on December6-7, 2016 in Islamabad.
After successfully venturing into chemicals and power sectors and with the aim to diversify the business, Lucky Cement, the Pakistan's largest cement manufacturer has decided to set up an associated company to undertake the manufacturing, assembling, marketing, distribution, sales, after sales service, import and export of all types of Kia Motor vehicles, with a proposed equity investment of up to Rs 12 billion.
The Economic Co-ordination Committee (ECC) of the Cabinet has refused to extend subsidy to those wheat exporters who had filed Goods Declaration (GD) after September 30, 2015, well-informed sources told Business Recorder Thursday. Ministry of National Food Security and Research said that the ECC in its meeting held on August 12, 2015 had allowed extension in the export period of wheat and wheat flour (Atta) till September 30, 2015.