World Bank approves $300mn for Agriculture and Rural Transformation in Punjab
The World Bank’s Board has approved US$300 million under the ‘Strengthening Markets for Agriculture and Rural Transformation’ (SMART) project...
Delta orders 100 Airbus planes in blow to Boeing
Delta Air Lines announced Thursday it has ordered 100 Airbus planes with an option to buy 100 more, in...
Disney to buy 21st Century Fox assets for $52.4bn
Walt Disney Co. said Thursday it had reached a deal to buy 21st Century Fox for $52.4 billion in...
Rupee’s Surprised Gain has Panicked the USD Investors
The USD exchange rate remained stable at Rs105.06 for two months. However, the rapid devaluation of USD has panicked the  investors who  kept their USD in liquid form with optimism to gain heavy premium. On Friday, USD was traded at Rs102.90-95 in the inter-bank market. Exporters used to keep their proceeds for... Read more
Pakistan’s Foreign Exchange Reserves rose to $8.737 Billion – SBP
According to the State Bank of Pakistan,  foreign exchange reserves rose to $8.737 billion on February 28 compared to $8.654 billion in the previous week. However market analysts believe that the increase in the central bank reserves is attributed to receipts of US$74 million from multilateral. Read more
US Doller in freefall against Pak Rupee
The dollar was traded at Rs103.50 in both markets indicating that the rupee is gaining faster than the market expectations which pushed investors to sell their holdings. Currency dealers said the sellers got nervous as their holdings value starts eroding. “All indications suggest that the dollar will fall to... Read more
Increase in Foreign Remittances  Has Stabilized Exchange Rate
Money chargers  are of the opinion that foreign remittances are higher for the last two months.  Pak rupee has gained some strength against the US dollar and remained stable for the last couple of months despite higher import bills and enlarging current account deficit.  Since past one week dollar... Read more
Provincial Govt.  may set up Independent Power Projects – Federal Govt
The federal government has decided to empower provincial governments and private entities to set up independent power projects for their own energy needs and to inject surplus electricity into the national grid. This would facilitate, particularly the provincial governments, to set up large power plants not only for their... Read more
Finally PM “Okays” Revival of PIA
Nawaz Sharif has finally approved a plan for restoration of PIA. The aim is turn the national flag-carrier into a profitable enterprise. PIA is currently running in losses of billions of rupees. The decision comes at a time when all eyes are on the proposed privatization of PIA. The... Read more
Fuel prices take a dive
The federal government today decreased the price of petrol by Rs. 2.73 a liter for the month of March. The drop in fuel price has been attributed to lower international oil price. According to details, the price of supreme/super petrol has been fixed at Rs.110/litre, kerosene oil at Rs.106.76/litre... Read more
Govt. sold PIBs work Rs. 247bn
In the 2nd auction of 2014, the government has sold PIBs worth Rs. 247 billion. It is more than four times of the set target. For this quarter Govt. has set target of Rs. 60bn. In the first auction for the 3rd quarter which was held on January 29,... Read more
Morning Briefing (February 28, 2014) on Market and Economy
Extract’s  of Market and Economy Commerce      Ministry has been directed to submit a summary on trade normalization      process with India to Federal Cabinet for final clearance. Fifteen      days to one month extension is expected in the PM’s multi-pronged tax      incentive package expiring today, providing a... Read more
Al Meezan Bank may acquire HSBC’s Business in Pakistan
HSBC disclosed on Thursday that they are negotiating to sell its business and operations in Pakistan to Al Meezan Bank This would be the 2nd deal after JS Bank couldn’t get the regularity approval from State Bank of Pakistan in October 2013 to acquire HSBC Pakistan. HSBC’s Pakistan business... Read more
China’s Opaque Policy effects Asia Shares
Asian shares were trading sluggishly on Wednesday following a flat finish on Wall Street, while concerns over opaque policy moves in China kept investors on edge amid a drought of major economic data. Chinese share markets eased further after sharp falls on Tuesday, but the losses were relatively limited... Read more
KSE100 Index end lower on Tuesday
On Tuesday, KSE 100 index closed at 25,559.61 points. The market was down by 214.20 points (0.83%). During the day investors mainly focused on mid caped stocks. OGDC did well than as it was forecasted in December quarter . On Tuesday closing, OGDC fell to R.s 262 (0.67%) while Engro was... Read more
Hyderabad Chamber of Commerce & Industry has demanded the authorities concerned to get industrial plots and coal mines belonging to influential people of Jamshoro District retrieved from illegal occupation. Abdul Qayoom Nusrat, Vice Chairman of Law and Order maintained that efforts of the HCCI to attract foreign investment in... Read more
WhatsApp, top deal of the past 10 years
WhatApp deal is considered “The world’s top deal over a decade”.  The deal was sealed on February 19 between Chief Executive Mark Zuckerberg and WhatsApp’s founder Jan Koum. On Monday, the social network confirmed the closing of the deal in a document filed with the US Securities and Exchange Commission. The document... Read more