Asian markets mixed, pound stuck around 20-month low By: Agencies on December 12, 2018Asian equities were mixed Tuesday as investor attempts to track gains in New York are weighed by a perfect storm of issues that have hammered global markets, while the pound remained stuck around 20-month lows on Brexit uncertainty. Bargain-buyers stepped in after the latest sell-off but the gains were limited, with fears about the outlook for the global economy keeping sentiment beaten … [Read more...] about Asian markets mixed, pound stuck around 20-month low
PSX Index sheds 448 points on profit taking By: Staff Report on December 12, 2018Pakistan equities turned lower on Tuesday amid low volumes, closing down 448 points at 38,852. Day started on a bearish note as Investors opted to book profits after a steep rise on Monday as market remained negative throughout the trading sessions after brief positivity in the early hours. Ismail Iqbal Securities' analyst attributed the bearish sentiment to declining remittances in November … [Read more...] about PSX Index sheds 448 points on profit taking
PTA chairman inaugurates Broadband project on Makran Coastal Highway By: Staff Report on December 12, 2018Chairman PTA, Muhammad Naveed on Tuesday inaugurated the project "Seamless broadband coverage from Hub to Jiwani: Makran Coastal Highway" worth Rs759 million at a ceremony. In this connection, contract of the project was signed by USF with Ufone. Chief Executive Officer, Universal Service Fund, Rizwan Mustafa Mir signed the contract with CEO-Ufone, Rashid Khan. In order to execute this … [Read more...] about PTA chairman inaugurates Broadband project on Makran Coastal Highway
May tours Europe in desperate bid to save Brexit deal By: Agencies on December 12, 2018Embattled British Prime Minister Theresa May launched a tour of European capitals on Tuesday in a desperate bid to salvage her Brexit deal, a day after delaying a parliamentary vote on the text to avoid a crushing defeat. May held talks in The Hague with Dutch Prime Minister Mark Rutte before heading to Berlin to meet Chancellor Angela Merkel as she struggles to unite British lawmakers behind … [Read more...] about May tours Europe in desperate bid to save Brexit deal
BankIslami partners with Jubilee Life to introduce Referral Model for Takaful Sale By: Press Release on December 12, 2018BankIslami, one of the leading Islamic banks of Pakistan, recently signed the Referral Model agreement with Jubilee Life - Window Takaful Operations, the country's leading life insurance and Takaful operator. The agreement was signed at a ceremony held at BankIslami head office to commemorate the partnership aimed at expanding Islamic banking in the market. Senior management and representatives of … [Read more...] about BankIslami partners with Jubilee Life to introduce Referral Model for Takaful Sale
OPPO announces price of much-awaited ‘R17 Pro’ in Pakistan By: Press Release on December 12, 2018OPPO, theleading global smartphone brand, had announced the launch of theirproduct under the globally hit 'R series', the 'R17 Pro'in Pakistan earlier this week. The price for the power packed device has been announced today at PKR 109,999 and the product will be available in markets nationwide from the 15th December. The R series is a part of the brand's high end handsets which have created a … [Read more...] about OPPO announces price of much-awaited ‘R17 Pro’ in Pakistan
Demand for better grades remains higher amid firm physical price at Lint market By: Staff Report on December 12, 2018Trading remained selective on grade issue while buyers made deals for second grade stuff on premium price during trading at lint market, fibre traders said. Forward deals also changed hands for consolidating inventories by leading buyers in Sindh and Punjab stations during trading session, floor brokers said. Buyers made deals on slightly high price on shrinking better grades of lint that … [Read more...] about Demand for better grades remains higher amid firm physical price at Lint market
Greenback gains strength versus domestic unit By: Staff Report on December 12, 2018The greenback gained value in interbank and open market due to higher demand by corporate sector for payments abroad and on dull forex reserves. The greenback after trading at Rs 138.40 in value versus domestic unit closed at Rs 138.50 for buying and Rs 138.70 for selling in interbank, gaining 10 paisas. The difference of dollar rates between interbank and kerb market increased by 45 paisas … [Read more...] about Greenback gains strength versus domestic unit
Gold Futures, speculation keep metal price in firm zone By: Staff Report on December 12, 2018Yellow metal price in domestic and international market closed in upper bracket as leading stakeholders and hedgers kept manipulating ready-market physical prices, metal traders said. Hedgers made deals on long term basis and on output report that could determine Futures of Gold and bottom-line prices, metal dealers said. Spot gold was quoted at $1,246 an ounce with $1 upward correction. … [Read more...] about Gold Futures, speculation keep metal price in firm zone
Fear of interest rate hikes is fading as next Fed meeting approaches By: Agencies on December 12, 2018The fear of the Fed is fading. As the 10-week stock market correction deepened, fears of slowing growth escalated and expectations for Fed rate hikes have fallen. While stocks weakened, investors jumped into bonds, sending yields lower and igniting worries about a looming recession. As of Monday, the odds were pretty low in the futures market that the Fed would raise interest rates more than … [Read more...] about Fear of interest rate hikes is fading as next Fed meeting approaches
