PMs Export Package helps Pakistan equities scale new highs on January 12, 2017Karachi: The Prime Minister’s export package has revitalized Pakistan equities which bucked the recent sideways trend and closed at a new all-time high above 49,000 helped by institutional buying. The benchmark KSE 100 index gained 505 points or 1.02 percent to close at its highest ever level of 49,371 mark. Stocks opened positive and the […]
Bring State Life Insurance in the fold of FIO on January 9, 2017KARACHI: With the expansion of the insurance businesses in the country the complications are also on the rise and so are the complaints of policyholders. The number of complaints per year has increased to well over 25,000 whose claims have been rejected, but the action required to cope with the rising number of complaints is […]
Dedicated tourism ministry at federal level demanded on January 9, 2017KARACHI: Stakeholders of the tourism industry have called for establishment of a full-fledged federal tourism ministry for promotion of tourism sector, which is suffering due to the provincial governments’ tepid response. Talking to Daily Times, veteran businessmen and ardent supporter of tourism Yahya Polani said that despite the huge potential, the provincial government were neglecting […]
South African investors demand 100 acres of land in Gwadar for Industrial zone under CPEC on January 5, 2017KARACHI: Investors of South Africa have expressed their interest to invest in the projects of China Pakistan Economic Corridor CPEC and demanded around 100 acres of land in Gwadar for establishment of industrial zone. Visiting Chairman of Pakistan South Africa Business Forum PSABF, Muhammad Rafiq Memon while talking to Daily Times informed that business community […]
Pakistan stock market to keep upward journey in 2017, eyes 56,000 mark on January 2, 2017Karachi: After securing 5th position in terms of highest return in the world, No one in MSCI Frontier Markets and standing at the top amongst the Asian peers in 2016, Pakistan Stock Exchange PSX is now poised to achieve 56,000 milestone during the current year, 2017. China Pakistan Economic Corridor CPEC and Pakistan’s inclusion in […]
SBP releases first quarterly report for FY17 on December 31, 2016KARACHI: Achieving annual fiscal deficit target of 3.8 percent of GDP in fiscal year 2016-17 (FY17) would be challenging. It will require additional fiscal consolidation efforts on the part of the government. The current account deficit is expected to remain in the range of 1-2 percent of GDP in FY17, which is higher than the […]
PSXs stakes sold to Chinese consortium for Rs 9 billion on December 23, 2016KARACHI: The Pakistan Stock Exchange (PSX) sold 40 percent of its stakes to a Chinese consortium through bidding on Thursday at the rate of Rs 28 per share. The amount generated through the sale of these shares stands at Rs 9 billion, equivalent to $85.5 million. The Divestment Committee opened the bids in the presence […]
Current account deficit swells by 91% in last five months on December 21, 2016Karachi: Pakistan’s current account deficit has swelled by 91 percent in the first five months of the current fiscal year 2016-17 mainly due to increasing imports bills and declining inflows of foreign exchange from exports receipts and workers’ remittances. According to statistics released by the State Bank of Pakistan (SBP), the current account deficit has […]
Rs 231tr paid via digital systems in FY 2015-16: SBP on December 18, 2016KARACHI: Payments through digital systems during the previous fiscal year (FY 16) have registered the growth of 29 percent to Rs 231.7 trillion as compared to the FY15. According to the State Bank of Pakistan, the volume and value of large value transactions through real-time gross settlement systems (RTGS) reached 930,501 and Rs 231.7 trillion, […]
Bulls rule stock exchange for 11th consecutive day on December 17, 2016KARACHI: Bulls at Pakistan stock market remained on the driving seat for the 11th consecutive day on Friday with the benchmark KSE 100 index hitting another record high by gaining by 226.18 points or 0.56 percent to close at 46584.53 level. Bluechips HUBC, PPL and UBL led the index by contributing 124 points to the […]