World Bank shareholders back $13b capital increaseBy: Agencies on April 23, 2018The World Bank’s shareholders on Saturday endorsed a $13 billion paid-in capital increase that will boost China’s shareholding but bring lending reforms that will raise borrowing costs for higher-middle-income countries, including China. The multilateral lender said the plan would allow it to lift the group’s overall lending to nearly $80 billion in fiscal 2019 from about $59 billion last year … [Read more...] about World Bank shareholders back $13b capital increase
Australian government under pressure over bank revelationsBy: Agencies on April 23, 2018The Australian government came under fresh pressure on Sunday over its reluctance to hold a judicial inquiry into the banking sector which has exposed widespread misconduct and regulatory shortcomings. Minister for Finance and Revenue Kelly O'Dwyer was the latest cabinet member to express a change of heart about the Royal Commission investigation, which she previously opposed as an "inquiry … [Read more...] about Australian government under pressure over bank revelations
PSX to increase annual listing fee by Rs 1.5mnBy: Abrar Hamza on April 22, 2018KARACHI: The Board of Directors of Pakistan Stock Exchange (PSX) has proposed to increase annual listing fee for equities spread over a period of two financial years i.e. FY 2018-1 9 and FY 2019-20 & onwards from existing Rs 1.5 million to Rs 3 million. Also, the Board has proposed reduction in annual and initial listing fee applicable on listed companies from existing Rs 2.5 million to Rs … [Read more...] about PSX to increase annual listing fee by Rs 1.5mn
Chinese tech giant cries foul as trade war with US intensifiesBy: Staff Report on April 22, 2018ISLAMABAD: Rejecting recently announced denial of the export privileges by the US, China's technology giant has opened up on the controversy, making it clear that export control compliance regime is regarded as the foundation and bottom-line of the company's overseas operations. US Secretary of Commerce Wilbur Ross had announced on April 16 that Bureau of Industry and Security had decided to … [Read more...] about Chinese tech giant cries foul as trade war with US intensifies
Index heavyweights drag market downBy: Staff Report on April 22, 2018KARACHI: The KSE-100 Index remained under pressure declining by 813 points or 1.8 percent week-on-week (WoW) to 45,259 points due to rout in banks, cements, and oil exploration & production companies (E&Ps). Trading activity remained dull where average traded volumes and average traded value fell by 37 percent WoW and 19 percent WoW to 155 million shares and $65 million. Banking … [Read more...] about Index heavyweights drag market down
‘Pakistan all set to produce over 1,000 MWs of clean energy through wind power alone’By: Staff Report on April 22, 2018KARACHI: Pakistan is all set to produce over 1000 MWs of clean electricity through wind energy alone in the current year as this is going to be a major milestone achieved towards the ultimate goal of the country to secure self-reliance in the energy sector. Chief Executive Officer of Alternative Energy Development Board (AEDB) Amjad Ali Awan stated this while addressing the maiden meeting of … [Read more...] about ‘Pakistan all set to produce over 1,000 MWs of clean energy through wind power alone’
Byco celebrates launch of Pakistan’s largest Catalytic reformerBy: Staff Report on April 22, 2018KARACHI: Byco, Pakistan's only vertically integrated Oil Company has launched Pakistan's largest catalytic reformer, enabling the company to refine an additional 24,000 barrels of crude oil per day, raising Byco's production of 92 RON premium motor gasoline fivefold. To celebrate this momentous achievement with every Pakistani, Byco is launching a campaign across Pakistan to share its delight with … [Read more...] about Byco celebrates launch of Pakistan’s largest Catalytic reformer
Buyers strike deals for better grades of lint amid firm prices past weekBy: Staff Report on April 22, 2018KARACHI: Buyers bought better and second grade of lint on premium price while buying in second grade of lint remained on higher side with firm physical prices during past week, traders at Karachi Cotton Association (KCA) said Saturday. They said buyers purchased all qualities on slightly higher price above spot rate during six trading sessions and market volumes also showed 10 percent increase … [Read more...] about Buyers strike deals for better grades of lint amid firm prices past week
Yellow metal price remains depressed, wary on Futures, dull hedgingBy: Staff Report on April 22, 2018KARACHI: Yellow metal price closed dull as prime hedgers and investors negated making any significant move on possible report of better output that may decide Gold Futures deals on short and long term basis. Stocks uncertainty and value of certain currencies also influencing gold trade as traders are not keen to take new positions and it is expected general prices to be largely confined to a … [Read more...] about Yellow metal price remains depressed, wary on Futures, dull hedging
CPEC Summit and Expo 2018 to begin on April 23rdBy: Staff Report on April 22, 2018KARACHI: 2-day China Pakistan Economic Corridor (CPEC) Summit & Expo 2018 is all set to start from 23rd April in Karachi. The summit will highlight the visions of the governments of China and Pakistan for enhanced trade and cooperation between both nations with the aim of driving regional peace, prosperity and economy.. Dr.Ahsan Iqbal - Federal Minister for Planning, Development & … [Read more...] about CPEC Summit and Expo 2018 to begin on April 23rd
