Pakistan’s diversified conglomerate Engro and Chinese technology giant Baidu have signed a memorandum of understanding (MoU) to explore collaboration in artificial intelligence (AI) infrastructure, research, talent development and industrial applications, the companies announced. As per the agreement, it aims to advance AI capabilities across the region by leveraging Baidu’s full-stack AI technologies and Engro’s growing […]
Engro
Bloodbath on trade floor, as PSX sheds 816 points
The Pakistan Stock Exchange (PSX) on Monday kicked off on a positive note, hitting the day’s high of +511 point on early excitement of Pakistan reaching a deal with the International Monetary Fund (IMF) on a 39-month Extended Fund Facility (EFF) programme of $6 billion. However this positivity couldn’t last long, as the market came […]
PSX recovers despite political mayhem
Bears were defeated in Friday’s trading session despite of tension in the political environment as market witnessed major recovery. Market opened positive and touched a high of +362 points as institutional participation was witnessed mainly in the blue chip stocks. Market remained positive throughout the day and closed at 37,131 points level. Positive sentiments in […]
Stocks in Pakistan recover as trade figures improve
The benchmark KSE-100 Index on Thursday gained 208 points or 0.6 percent, to close at 36,788 levels. The local bourse made a high and a low of +331 & -80 points, respectively. Market came under duress due to selling pressure by the local institutions. The KSE-100 remained positive through most of the session as trade […]
Energy, financial scrips push PSX Index up
Pakistan equities closed Tuesday positive with benchmark KSE-100 Index gaining 208 points, closing at 37,130 levels, up 0.6 percent. The local bourse made a high and a low of +349 and -329 points, respectively. An equity analyst at IIS Securities said the positive sentiment was mainly driven by improved trade numbers for the month of […]
Pakistan stocks remain under selling pressure, shed 319 points
Pakistan equities closed further negative on Tuesday as the benchmark KSE-100 Index shed another 319 points, closing at 38,036 levels, down by 0.8 percent from the previous day’s close. Consumer Price Index (CPI) inflation for March-2019 settled at 9.41 percent year-on-year (YoY), depicting a surge of 120bps from the preceding month on back of surge […]
Thar coal plant starts generating electricity
A lignite coal power plant in Thar of Engro Powergen Thar Limited (EPTL) started pumping 330 MW of electricity. It is generated by domestic coal. Sources from the company stated that the first of two 330MW units of the 660MW project in Thar Block 2 was tested and boosted on Monday. The CEO of EPTL, […]