06272016Mon
Last update: Mon, 27 Jun 2016 08am

Stocks and Bonds: Pakistan

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The Sindh Assembly on Sunday approved Rs 869 billion fiscal budget 2016-17 with adopting 'the Sindh Finance Bill 2016' despite the opposition's noisy protest. The majority vote by the treasury helped the budget sail through the assembly but opposition called it 'unjust' to ignore its cut-motions on the next fiscal plan. The opposition members rejected the budget passage and tore up copies of the bill and tossed them in protest.

Brexit "surprise" just knocked it down on Friday as Pakistan shares market was undergoing correction after the JSCI upgrade gala. The prevalence of unexpected "Leave" vote in UK's historic referendum on June 23 led to what analysts said bloodbath at Pakistan Stock Exchange (PSX) on the week's last trading day.
Brexit "surprise" just knocked it down on Friday as Pakistan shares market was undergoing correction after the JSCI upgrade gala. The prevalence of unexpected "Leave" vote in UK''s historic referendum on June 23 led to what analysts said bloodbath at Pakistan Stock Exchange (PSX) on the week''s last trading day.
Financial reform is urgently required to bolster global growth and overcome volatility, the Bank of International Settlements (BIS) said in its latest annual report Sunday.
European powers demanded a quick divorce Saturday as Britain's seismic vote to abandon the EU sparked bitter break-up rows at home and abroad. Britons had cast aside warnings of isolation and economic disaster to vote 52 percent-48 percent in favour of quitting the European Union in the June 23 referendum. The historic vote, fought on the battlefronts of the economy and immigration, toppled Prime Minister David Cameron, pounded sterling and led Moody's to downgrade Britain's credit rating outlook to "negative".
Britain's shock vote to pull out of the European Union wiped $2.1 trillion from global equity markets Friday as traders panicked in the face of a new threat to the global economy. Investors fled to the safety of gold, the yen and bluechip bonds as the seismic shift in the structure of Europe left many huge questions hanging, including who will lead Britain following the resignation of Prime Minister David Cameron.
More than two million people have signed a petition calling for a second referendum, after a shock vote to pull Britain out of the EU, an official website showed Saturday. The website of the parliamentary petition at one point crashed due to the surge of people adding their names to the call for another nationwide poll following Thursday's historic vote.