Hedge funds posted negative performance in May, accentuating their losses this year to almost 3%. The fund-weighted composite index went down 0.58% amid volatility in equities, bonds, and commodities. Still, 40% of the hedge funds compiled posted gains. Mutual funds posted negative execution in May, emphasizing their misfortunes this year to practically 3%, as financial … Read more
KARACHI: Mastercard has announced the inaugural of Women SME Leaders Awards 2022, to recognise and further empower women-owned and run SMEs in Pakistan, Middle East and Africa, a statement said. Small enterprises in trading owned and run by women and with a turnover of less than $13.6 million (AED50 million) and employing between six to … Read more
WASHINGTON: Americans saw their incomes climb slightly in the first month of 2022, but the gain was overtaken by rising prices, which increased at their fastest rate in 40 years, according to the government data. Rising energy prices continue to be a key factor driving inflation and global oil prices have been moving steadily higher … Read more
KARACHI: The Morgan Stanley Capital International (MSCI) has added Pakistan in MSCI FM 100 and MSCI FM 15% country cap index, which could bring around $85 million inflows to the local stock market. Wajid Rizvi at JS Global Capital said that Pakistan would become a part of these indices in the upcoming MSCI Semi-Annual Index … Read more
KARACHI: The Pakistan bourse opened on a bullish note as the KSE-100 index witnessed an increase of 137.78 points, or 0.31 per cent, in the first hour of trading on Friday. The Pakistan Stocks on Thursday rebounded and remained in a green zone on as the mini-budget was approved by the cabinet, while the year-end … Read more
RIYADH: Annual inflation rate in Saudi Arabia hit 1.1 per cent in November, up from 0.8 per cent in the previous month, Arab News quoted Gastat report, as saying. This is the highest level since June and the third month in a row in which inflation rate rose, yet it remains within analysts’ expectations. Specifically, … Read more
CAIRO: Egypt announced it is ready to officially join the JPMorgan Government Bond Index-Emerging Markets (GBI-EM) for emerging markets by the end of January next year, CNBC Arabia reported citing the finance minister. Upon joining, Egypt will become one of only two countries in the Middle East North Africa region to make the index. Mohamed Maait said … Read more
RIYADH: Saudi industrial production expanded by an annual rate of 7.7 per cent in October to reach its highest level since April 2020, Arab News quoted data published by Gastat, as showing. Jumps in the output of the mining and quarrying sector were mainly responsible for the expansion as it went up by 9.1 per … Read more
KARACHI: The depreciating rupee, rising deficits and anticipation of sharp jump in interest rates dragged the Pakistan stocks down 2 per cent during the week ended December 3, 2021, dealers said. However, with the ease in the global commodities improving Pakistan’s macro-outlook, the International Monetary Fund (IMF)-related uncertainty largely behind and the MSCI-related rebalancing, the … Read more
RIYADH: Saudi Arabia is set to experience strong economic growth in the fourth quarter of 2021, thanks to oil production hitting its highest level since April 2020, Arab News quoted a report from Capital Economics. Some 9.76 million barrels per day were produced in October, broadly in line with pre-virus levels of output, analysts at the London-based … Read more
DUBAI: The new Covid-19 variant, omicron, has prompted global economic concerns, as fears of its spread begin to affect stock markets and oil prices, Arab News reported. Saudi Arabia’s main market, the Tadawul All Share Index, opened 5.3 per cent lower on Sunday, trading near 10,700 points. The Dubai Financial Market was down 8.49 per cent in … Read more
LONDON: A key index tracking the prices of industrial metals, including aluminium, copper and zinc, has struck record heights as soaring energy prices reduces their production. The London Metal Exchange Index reached an all-time peak at 4,623.4 points. It represents a 35-per cent jump for the LME index since the start of the year, while … Read more
KARACHI: Sentiments at the Pakistan equity market improved after the rupee started recovering against the dollar and posted partial gains in the interbank market after supposed central bank intervention, dealers said. Ahsan Mehanti at Arif Habib Corporation said that the stocks closed higher led by oil and banking scrips on strong earnings outlook, while the … Read more
Amid rising fears of China’s yet uncontrollable Corona-virus, Tokyo’s benchmark Nikkei index dropped more than 2 per cent Monday on concerns over the potential impact of a new coronavirus that has killed at least 80 people in China. According to a report The Nikkei 225 index lost 2.03 per cent or 483.67 points to close … Read more
