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Ali Ahmed

Business & Finance

Shanghai Electric submits fresh PAI to acquire K-Electric shares

On Tuesday, it was learned K-Electric has received “withdrawal” of Public Announcement of Intention (PAI) for the acquisition of up to 66.40pc voting shares of K-Electric Limited by Shanghai Electric Power Company Limited.

Published 31 Mar, 2021 02:55pm

Markets

Pakistani Rupee continues to appreciate against US Dollar

The PKR opened the trading day at 153.100 against USD, it dropped to the day low of 151.200 before it rebounded.

Updated 31 Mar, 2021 07:57pm

Business & Finance

Investors show 'great confidence' in Pakistan says Azhar, after successful bond deal

Pakistan launched a three-tranche bond deal on Tuesday to raise $2.5 billion comprising tranches of five, 10, and 30 years for which it received over $5.3 billion in combined orders, a document showed, in its first international bond sale since late 2017.

Published 31 Mar, 2021 11:46am

Business & Finance

ECC to review sugar, cotton imports from India

As per details, a 21-point agenda will be considered in the meeting, a summary of permission to import cotton from India will be presented while a summary of sugar import will also be submitted for approval.

Updated 31 Mar, 2021 11:58am

Business & Finance

Inland Revenue seize Illicit cigarettes worth over Rs 5mn

Proceedings are underway to curb the illicit trade in cigarettes as per the special instructions of the Prime Minister of Pakistan and Chairman FBR.

Published 31 Mar, 2021 10:44am

Markets

Dollar drops to two-year low against Pakistani Rupee

After a high of Rs 168.43 on August 20, the dollar has depreciated by Rs 15.23 so far.
As per local media reports, the trading session of the second day of the business week today, the dollar lost 95 paise in the interbank market as the dollar dropped to Rs 153.20 at closing.

Updated 30 Mar, 2021 04:01pm

Business & Finance

ADB approves $300mn Loan for Hydropower Plant in Pakistan

The government will invest $175 million in the project. It has also requested a $280 million loan in project cofinancing from the Asian Infrastructure Investment Bank.

Published 30 Mar, 2021 01:57pm

Business & Finance

Fitch Ratings assigns 'B-' rating to Pakistan's proposed foreign-currency bonds

As per Fitch Ratings, the rating is in line with Pakistan's Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'B-' with a stable outlook.

Published 30 Mar, 2021 01:40pm

Business & Finance

Tabish Gauhar becomes SAPM on Power & Petroleum amid Nadeem Babar removal

"The Prime Minister has been pleased to re-designate, Mr. Tabish Gauhar, Special Assistant to the Prime Minister on Power as Special Assistant to the Prime Minister on Power and Petroleum, on honorary basis, with immediate effect.”

Published 30 Mar, 2021 12:10pm

Business & Finance

Notification issued: Hammad Azhar appointed as Finance Minister

“In exercise of the powers conferred by clause (3) of Article 92 of the Constitution of the Islamic Republic of Pakistan, the President, on the advice of the Prime Minister, has been pleased to approve the removal of Dr. Abdul Hafeez Shaikh as Federal Minister, with immediate effect,” read the notification.

Published 30 Mar, 2021 11:55am

Business & Finance

Incoming Finance Minister vows to protect against COVID shocks

“The world is witnessing supply chain disruptions and rise in food prices. We shall endeavor to protect our people from these shocks,” added Azhar.

Updated 30 Mar, 2021 12:00pm

Pakistan

Provinces need no ‘NOC’ from centre to import registered COVID-19 vaccines

“At the same time, there is no "NOC" requirement (or any NOC pending) or bar for any provincial government to procure any registered vaccine if they are able to,” he stated.

Published 30 Mar, 2021 10:37am

Markets

PSX witness bloodbath as COVID fears rattle investors

The indices slipped lower from the start of the day, as the benchmark KSE 100 index lost 1,206.20 pts to an intraday low of 44,315.43. It ended with a loss of 1,089.83 pts at 44,431.80 below the 45,000 mark.

Published 29 Mar, 2021 05:11pm

Business & Finance

PM Khan calls to take all steps through cross-border import of cotton yarn

The advisor informed that a summary will be presented at the next Economic Coordination Committee (ECC) meeting to ensure the availability of cotton and yarn in the coming months.

Published 29 Mar, 2021 04:38pm

Business & Finance

Ease down in Indo-Pak tensions to benefit Chemical, Cement sector, says analyst

“Improving trade prospects is beneficial particularly for cement, chemicals, pharma, and textiles in our view,” stated the report.

Published 29 Mar, 2021 03:13pm

Business & Finance

Czech billionaire dies in Helicopter crash

A statement issued by the PPF Group N.V. a privately held international financial and investment group founded in 1991 by the 56-year-old billionaire stated that Kellner was killed in a helicopter crash on March 27 in a mountainous area of Alaska.

Published 29 Mar, 2021 02:08pm

Business & Finance

SBP signs MoU for Digitizing Federal Government Payments through Raast

As per details, the payroll and pension-roll data will be shared from CGA system to SBP’s Raast through a highly secured interface, and payments to the beneficiaries’ accounts will be made instantly after validating the beneficiaries’ detail.

Published 29 Mar, 2021 01:06pm

Technology

Pakistan to launch digital payment gateway soon, Ministry of IT

Projects have been launched under the Universal Service Fund for network coverage in the province.

Published 29 Mar, 2021 12:28pm

Business & Finance

Ongoing Suez Canal blockage to add pressure on global supply chains

The Evergreen Marine, a 1300f long Japanese vessel was stranded in the Suez Canal, a major trade route connecting Asia and Europe, on Tuesday, disrupting several ships on the Suez Canal, alongside disrupting international trade.

Published 29 Mar, 2021 11:36am

Business & Finance

Moody’s says Robust growth in Pakistan’s Islamic banking a credit positive

“The growth is credit positive for Pakistani banks because it attracts customers from the previously unbanked population, which creates new business opportunities and boosts banks' financial performance,” said Moody’s.

Published 29 Mar, 2021 11:00am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 3	278.23
USD PKR Interbank Buying / May 3	278.03
USD to Japanese Yen / May 3	153.05
USD to Swiss Franc / May 3	0.91
Pound Sterling to USD / May 3	1.25
Euro to USD / May 3	1.08

Stock	Volume
S&P 500 / May 3	5127.79
India Sensex / May 3	73878.15
Tokyo Nikkei / May 3	38236.07
Nasdaq / May 3	16156.33
Hang Seng / May 3	18475.92
FTSE 100 / May 3	8213.49
Dow Jones / May 3	38675.68
Germany DAX 30 / May 3	18001.60

Item	Value
Crude Oil USD/Barrel / May 3	78.11
Karachi Cotton PKR/37.32 KG / May 3	20535
Gold 10 Grams PKR / May 3	205418
Gold Spot USD/Ounce / May 3	2301.74
Cotton US¢/pound / May 3	78.06
Petrol/Litre / May 5	288.49

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 5 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 5 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 5 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 5 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 5 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 5 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 5 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 5 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 5 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 5 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 5 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 5 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 5 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 5 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 5 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 5 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 5 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 5 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 5 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 5 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 5 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 5 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 5 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 5 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 5 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 5 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 5 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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