PSX has been awarded ‘Best Islamic Stock Exchange Award’ This is the third consecutive year PSX has received the award. GIFA gives the award for excellence in banking and finance. KARACHI: The Pakistan Stock Exchange (PSX) has been awarded the ‘Best Islamic Stock Exchange Award 2023’ by Global Islamic Finance Awards (GIFA). “This is the … Read more
Wall Street guard dog intends to examine development as of late of the installment for request stream (PFOF) practice. PFOF practice is restricted in Canada, the UK and Australia. It aims to ensure mother and-pop financial backers get the best cost for exchanges. SEC chief Protections and Exchange Commission seat Gary Gensler told an industry … Read more
Eni, the Italian energy giant, announced on Tuesday that it was opening accounts in euros and rubles to pay for Russian gas supplies that were due soon, in accordance with Moscow’s requests. It was unclear whether Eni’s decision would trigger European Union sanctions, however, the company stated it was “not incompatible.” In a carefully worded … Read more
Asian offers have quickly returned after misfortunes before in the week, disregarding the most recent information showing U.S. discount costs took off 11% in April from a year sooner. The local meeting followed a blended and muffled shut down on Wall Street. Oil costs and U.S. fates additionally were higher. Financial backers are thinking about … Read more
KARACHI: The Pakistan Stock Exchange (PSX) presented its performance report for the first nine months of fiscal year 2021-22 on Friday, according to ARY News. According to the study, the PSX companies achieved a record profit of Rs822 billion in the first nine months of this fiscal year. In comparison to the previous fiscal year, … Read more
Swedish telecoms equipment giant Ericsson said Thursday it will probably need to pay new fines to the US Department of Justice over suspected bribes to the Islamic State bunch in Iraq. CEO Borje Ekholm conceded newspaper interview in February that some of Ericsson representatives might have bribed IS members for road transport through regions constrained … Read more
MUMBAI: The former chief executive of India’s National Stock Exchange has been arrested, officials said on Monday, in a bizarre corporate mis-governance scandal, featuring a supposed Himalayan yogi. Chitra Ramkrishna, a high-flying executive once feted as the “queen of the bourse”, allegedly took business advice from a mystic throughout her 2013/16 tenure at one of … Read more
KARACHI: The Pakistan Equity Market opened in a green zone on Monday where investors’ confidence was enhanced due to the government fulfilling all the prior conditions of the International Monetary Fund (IMF). An analyst at Pearl Securities said that the upcoming visit of Prime Minister Imran Khan to China would also be a positive development … Read more
KARACHI: The Pakistan bourse closed on a positive note on Thursday as investors cheered Wednesday’s T-Bill auction amid a decline of 15 to 27 basis points in cut-off yields, dealers said. Ahsan Mehanti at Arif Habib Corp said that stocks closed bullish amid the fall in the government T-bill yields by 68bps. “Mid-session pressure remained … Read more
KARACHI: The Pakistan bourse on Wednesday closed higher as investors’ confidence was boosted due to the State Bank of Pakistan (SBP) affirming steady rates coupled with the falling bond yields. “The government revised the growth rate to 5.4 per cent for fiscal year 2021, and the global crude oil prices rose which played a catalyst … Read more
KARACHI: The Pakistan Stock Exchange (PSX) opened in a green zone where investors’ interest was boosted as the State Bank of Pakistan (SBP) kept the interest rate unchanged in Monday’s announcement. “Late profit taking was witnessed at the bourse as international markets turned red on the speculation that the US Federal Reserve may raise interest … Read more
KARACHI: The Pakistan bourse closed lower on Monday amid a slump in the global equities and investor concerns for the ongoing political noise. “Uncertainty ahead of the International Monetary Fund policy board review on January 28, and the State Bank of Pakistan’s policy announcement scheduled today amid surging inflation played a catalyst role in negative … Read more
KARACHI: The Pakistan equity market witnessed a bloodbath session on Wednesday, as it remained under selling pressure due to the rising trend in the global oil prices. The rumours of a hike in the US interest rates and increased concerns over the bleak external account figures of the country kept the market under pressure throughout the … Read more
KARACHI: The Pakistan equity market closed in the red zone, amid rising Covid-19 pandemic cases across the world. Surging twin deficits and uncertainty over the outcome of the upcoming International Monetary Fund (IMF) Board review for the release of the Extended Fund Facility (EFF) tranche worth over $1 billion played a catalytic role in the … Read more
KARACHI: The Pakistan bourse started the day on a positive note where bears took over for the rest of day, thus, the market ended in a red zone. An analyst at Pearl Securities said that the voting on the finance bill admitted strong opposition in both houses which kept the market under pressure. “[The] international … Read more
KARACHI: The Pakistan equity market opened on a positive note on account of higher international oil prices, but the positivity didn’t sustain as the market witnessed profit taking in the last hours, dealers said. An analyst at Pearl Securities said that the bourse started the day in a positive zone and crossed the psychological barrier … Read more
KARACHI: The Pakistan Stock Exchange opened on a bullish note as the KSE-100 index witnessed an increase of 184.69 points, or 0.41 per cent, in the first hour of trading on Friday. The stocks closed bearish on renewed concerns in the global equities over Covid-19 pandemic. Important news that dampened investors’ confidence, were regarding a … Read more
HONG KONG: Chinese artificial intelligence startup SenseTime said on Monday it will press ahead with its Hong Kong listing, a week after it was blacklisted by the United States over accusations of genocide in Xinjiang. An initial listing earlier this month was pulled when the US Treasury announced new sanctions, saying SenseTime’s facial recognition programmes were … Read more
KARACHI: The Pakistan stocks celebrated a lower-than-expected interest rate hike, which was accompanied by the central bank’s guidance, hinting now at rate hike in January monetary policy, dealers said. Ahsan Mehanti at Arif Habib Corporation said that the stocks closed record high after lower-than-expected tightening of the key policy rate by 100bps, and the central … Read more
BEIJING, Dec. 11 (Xinhua) — China’s securities regulator has approved the initial public offering (IPO) registration of three companies on the country’s NASDAQ-style ChiNext board. Anhui Tongguan Copper Foil Group Co., Ltd., Beijing Sunwayworld Science & Technology Co., Ltd. and Chengda Pharmaceuticals Co., Ltd. will be listed on the Shenzhen Stock Exchange’s board of growth … Read more
RIYADH: Major US stock exchanges delisted 179 companies between 2020 and 2021, according to a report carried by Finbold.com. Citing data the report said in 2021, the number of companies on Nasdaq and the New York Stock Exchange stands at 6,000, dropping 2.89 per cent from last year’s figure of 6,179. In 2019, the listed … Read more
BEIJING: Embattled property giant Evergrande plans what could become China’s biggest ever debt restructuring, wrapping in all its offshore obligations, reports said, as it established a risk committee before looming payment deadlines. The company’s struggles to meet its commitments have fanned concerns about China’s property sector, which forms a substantial part of the world’s second-biggest economy. … Read more
STOCKHOLM: Swedish car brand Volvo said on Monday it was planning its Stockholm stock exchange debut on October 28, targeting a market value of up to 200 billion kronor ($23.1 billion, 19.9 billion euros). The Swedish carmaker first announced its plans to go public in early October, while noting that China’s Geely would remain the … Read more
The United Nations Security Council (UNSC) has lifted sanctions on the Baghdad Stock Exchange under former President Saddam Hussein. An SRO has been issued to remove him from the sanctions list. Once the sanctions are lifted, financial transactions with the Baghdad Stock Exchange will be possible. Pakistan will have complete freedom of investment, trade, and … Read more
KARACHI: The Pakistan bourse tumbled around one per cent during the week ended August 27, 2021, and the market performance is likely to remain range-bound, amid the political turmoil in Afghanistan, and uncertainty surrounding the International Monetary Fund (IMF) review, likely to commence from September 21, 2021, analysts said on Saturday. “However, from the sector-wise … Read more
KARACHI: The Pakistan equity market started the first day of the week with an extensive bull run where the index broke the 48,000 psychological barrier, as lower current account deficit and certainty over the Afghan issue triggered buying, dealers said on Monday. Ahsan Mehanti at Arif Habib Corp said the stocks closed bullish, amid bull-run … Read more
KARACHI: The Pakistan stocks witnessed a bullish momentum on the second day of the week after the US president’s speech over the Afghan issue’, which settled down the uncertainty at the bourse by not blaming Pakistan, dealers said. This was also buoyed by the official statement of the National Security Council supporting the peaceful establishment … Read more
KARACHI: The equity market started the session in the green zone, but later on bears took the charge and dominated the bourse throughout the day, while traded volume remained low due to the absence of any positive trigger, delay in refinery policy and mixed results announcements, dealers said on Thursday. An analyst at Arif Habib … Read more
