Asian stocks pare losses after US-China trade talk newsBy: Agencies on August 17, 2018Asia stocks closed lower Thursday, joining a global sell-off on concerns over Turkey's financial crisis, although losses were capped by news that China and the United States would hold trade talks. Equities across the region suffered steep losses at the opening bell, with Tokyo and Shanghai off by more than one percent, dragged down by a weak session on Wall Street as traders fretted over … [Read more...] about Asian stocks pare losses after US-China trade talk news
PSX Index extends loses amid weak financial resultsBy: Staff Report on August 17, 2018KARACHI: Pakistan equities continued to slide on Thursday with benchmark KSE-100 Index shedding nearly 700 points during the trading session to set an intra-day low of 41,750. However late recovery in select blue chips pushed the Index to 41,960 at close. KSE-100 Index lost 485.76 points. Market came under pressure sailing in line with its regional peers where Asian markets declined on the back … [Read more...] about PSX Index extends loses amid weak financial results
MIGA issues US$ 66 million worth of guarantees for Hyundai-Nishat Motors Assembly Plant on August 17, 2018LAHORE: MIGA, a member of the World Bank Group, has issued guarantees worth US$66 million in support of the design, construction and operation of the Hyundai-Nishat Motor vehicle assembly plantin M3 Industrial City, Faisalabad. The guarantees cover investments and loans guarantees extended by the Sojitz Corporation of Japan, a trading company, to Hyundai Nishat Motor (Private) Limited, a joint … [Read more...] about MIGA issues US$ 66 million worth of guarantees for Hyundai-Nishat Motors Assembly Plant
SECP amends PSX regulations governing offices of brokersBy: Staff Report on August 17, 2018ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) in the meeting Chaired by the Worthy Chairman SECP has accorded its approval for crucial amendments to the Pakistan Stock Exchange Limited (PSX) Regulations governing the opening of offices and branch offices by the securities brokers. The amendments introduce stringent eligibility criteria for opening of new offices/branches … [Read more...] about SECP amends PSX regulations governing offices of brokers
Bank Al-Habib declares half-yearly pre-tax profit of Rs. 7.08 billion on August 17, 2018The Board of Directors of Bank AL Habib Limited (the Bank) announced the financial results of the Bank for the half year ended 30 June, 2018. As per the results, the Bank declared pre-tax profit of Rs. 7.08 billion for the half year ended 30 June, 2018 as compared to Rs. 7.52 billion for the corresponding period. Profit after tax for the half year ended 30 June, 2018 was recorded at Rs. 4.20 … [Read more...] about Bank Al-Habib declares half-yearly pre-tax profit of Rs. 7.08 billion
Gold pares losses from 19-month low as US dollar softensBy: Agencies on August 17, 2018Gold pared heavy early losses that came in the midst of a broad commodity sell-off on Thursday, bouncing off of a 19-month low on short covering and a softer US dollar following news that Beijing will hold trade talks with Washington this month. Spot gold was down 0.2 percent at $1,172.48 an ounce as of 0426 GMT, after earlier falling as much as 1.2 percent to $1,159.96, its lowest since … [Read more...] about Gold pares losses from 19-month low as US dollar softens
Yellow metal price remains under correction on speculation, gold futuresBy: Staff Report on August 17, 2018Gold price remained under correction on petty demand and adjustment in physical prices in domestic and international market. Physical trading remained insignificant. Metal stood dull in value by $11 an ounce to stay at $1,176 an ounce in international market. Metal price in domestic market witnessed a decline of Rs 464 per ten grams to stay at Rs 45,323 per ten grams. In tola term gold declined … [Read more...] about Yellow metal price remains under correction on speculation, gold futures
Buying in second grade of cotton remains moderate amid depleting fine stocksBy: Staff Report on August 17, 2018The buyers made deals for second grade of lint on slightly higher price amid moderate traded volumes, fibre traders said. Forward deals also changed hands for better grades while firmness of physical prices provided weak sellers to fetch better bottom-line prices. Most of the stakeholders particularly buyers remained in holiday mood on scarcity of transport availability as most of the … [Read more...] about Buying in second grade of cotton remains moderate amid depleting fine stocks
Greenback edges lower in value versus domestic unitBy: Staff Report on August 17, 2018The greenback lost ground in value against the domestic unit in the interbank and open markets, owing to dull demand from prime importers and oil companies for their payments. The dollar closed at Rs 123.50 for buying and Rs 123.70 for selling. It shed 40 paisas in interbank. The differential between dollar rates in kerb and interbank market decreased to Rs 1.71 in transaction on … [Read more...] about Greenback edges lower in value versus domestic unit
China, US to hold next round of trade talks in late AugustBy: Agencies on August 17, 2018China said on Thursday it will hold a fresh round of trade talks with the United States in Washington later this month, offering a glimmer of hope for progress in resolving a conflict that has set world markets on edge. A Chinese delegation led by Vice Minister of Commerce Wang Shouwen will meet with US representatives led by Under Secretary of Treasury for International Affairs David Malpass, … [Read more...] about China, US to hold next round of trade talks in late August
