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Site update: September 22 2017, at 18:00 PKST
Stock update: September 22 2017.

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Friday, September 22 2017

Market watch: Winning streak ends as stocks fall prey to political instability
KARACHI: The continuing political noise dampened investors’ interest on Thursday, ending a seven-day winning streak, after an accountability court issued arrest warrants for Finance Minister Ishaq Dar and ordered the Punjab government to release judicial report of the Model Town incident. The KSE-100 index started to retreat right from the opening session and fell below 43,000 points around midday, despite a brief recovery. At close, the benchmark KSE 100-share Index recorded a fall of 571.99 points or 1.32% to stand at 42,775.04.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

TPL Direct Insurance Limited is now TPL Insurance Limited
KARACHI: TPL Direct Insurance Limited has announced a change in its corporate identity. TPL Direct Insurance Limited will now be TPL Insurance Limited, with its commitment to provide continuous improvements in all its processes and to become the top general insurance solutions provider in Pakistan. The new corporate identity unifies the company’s operations under a set of common corporate values, goals and commitments. It also signifies the expansion into commercial lines business of general insurance, with the same commitment of best customer services.
Related news categories: business company-news economic-indicators insurance ise kse lse misc psx stock-exchanges
Related symbols: tdil (news stock)

Currency: Rupee stable against dollar
KARACHI: The rupee remained stable against the dollar at 105.3/105.5 in the inter-bank market on Thursday compared to Wednesday’s close of 105.3/105.5. The currency market has fluctuated regularly in recent months with hefty rises and falls on some occasions. In the long run, however, the rupee has stood firm after experiencing extensive volatility, when it weakened from around Rs98 to a dollar to above Rs103 in the wake of political impasse over alleged election rigging.
Related news categories: business economic-indicators misc

China races to finish Karot Hydropower project earlier
BEIJING: China is racing to complete the Karot Hydropower Project located on the Jhelum River on the boundary between Punjab and Azad Kashmir ahead of schedule. “Construction on the power station is set to finish nine months ahead of its December 2021 completion date,” reported Global Times on Thursday. The shortened construction period suggested the project has gained understanding, support and trust from local authorities and the people.
Related news categories: business economic-indicators misc power-gen-dist

ICCI signs MoU for improving trade with Greece
ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) and the Greek-Pakistan Entrepreneurship Cooperation Initiative have signed a memorandum of understanding (MoU) to make joint efforts for further improving bilateral trade and economic relations between Pakistan and Greece. Pakistani workers ‘regret’ migrating to Greece ICCI President Khalid Iqbal Malik and Greek-Pakistan Entrepreneurship Cooperation Initiative President Maria-Rubina G Markopoulou signed the agreement on behalf of their respective organisations. Advertisement Speaking on the occasion, Malik said bilateral trade between Pakistan and Greece did not reflect the actual potential of both countries. However, it could be improved by promoting connectivity between private sectors of both the countries and encouraging frequent exchange of trade delegations.
Related news categories: business economic-indicators misc

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