stock alerts
stock screener
search stocks using your criteria

Site News

Main features: company information, stock markets, stock filters, intraday charts, alerts, portfolio, customized searches (details)
Site update: November 18 2019, at 17:00 PKST
Stock update: November 18 2019.

Recent Financial News

Login or sign up to search news items.

Monday, November 18 2019

Rally continues at bourse, KSE-100 advances 4.5%
KARACHI: Bulls maintained their control at the stock exchange for the third consecutive week as the benchmark KSE-100 index gained over 1,600 points, which helped lift the market to a seven-month high. The rise came primarily on the back of a successful International Monetary Fund (IMF) review of Pakistan’s economy, which set the tone for the outgoing week. On the other hand, the easing of political noise in the capital city lent further support to the index as investors heaved a sigh of relief. The Jamiat Ulema-e-Islam-Fazl (JUI-F) called off its 13-day-long sit-in in order to press ahead with its Plan B. “The easing of political noise after the end of sit-in by the JUI-F and expected departure of former premier Nawaz Sharif abroad for medical treatment kept sentiment upbeat at the stock market,” stated Arif Habib Limited in its report.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

CPEC effect: Taiwanese textile companies may relocate to Pakistan
LAHORE: Being a cheap labour market, Pakistan can transform into an excellent destination for Taiwanese textile companies, which are willing to relocate their units outside Vietnam, said Taiwan Textile Federation President Justin Huang. “At present, Vietnam is crowded, which causes difficulties for Taiwanese textile firms there, such as labour shortages,” Justin said in an interview with The Express Tribune. “In Pakistan, however, labour issues will not emerge at least for the next 10 years and this is something attractive for us.” He pointed out that China had invested massively in Pakistan’s infrastructure development projects under the China-Pakistan Economic Corridor (CPEC) and stressed that Taiwanese businessmen could take maximum advantage from such investment.
Related news categories: business economic-indicators misc

Not coming slow as Pakistan's power sector reinvented
ISLAMABAD: On August 14, 2019, when the entire country was celebrating the 72nd Independence Day, a group of General Electric (GE) engineers with our partners were busy concluding the final testing of the 1,320MW China Power Hub Generation Company Limited’s power plant. The beginning of commercial operations of this plant meant injection of ample power into the national grid to electrify over two million homes and industries. It was the 18th Greenfield power generation project that GE had connected to the grid within the last seven years. In total, these projects have added over 8,300MW to the national grid since 2012, a record in itself, besides being the primary reason behind elimination of load-shedding in the country.
Related news categories: business economic-indicators misc power-gen-dist

PLL, SNGPL tussle threatens to derail 1,200MW project
LAHORE: A Punjab government energy megaproject is at risk of derailment due to an ongoing tussle over gas supply between two state-run energy companies, The Express Tribune has learnt. Despite strict instructions from the prime minister and the Economic Coordination Committee to resolve the matter, disagreements persist between Pakistan LNG Limited (PLL) and Sui Northern Gas Pipelines Limited (SNGPL) and have delayed work on the 1,263 megawatt Punjab Thermal Power Project being developed in Jhang. In this regard, the Chief Minister Punjab Sardar Usman Buzdar has written a detailed letter to Prime Minister Imran Khan warning about the looming danger of a huge financial loss to Punjab because of the negligence of federal government subsidiaries. According to sources, the dispute arose over payment delays and a conflict between SNGPL and the Government of Punjab over a Standby Letter of Credit (SBLC) regarding the supply of 600 million cubic feet of gas per day for the project. They said work on the project has slowed down because payments were not made in due time. In a meeting with Punjab government officials, the Chinese ambassador to Pakistan also expressed concerns over the undue delay in payment to the Chinese company involved in the project and urged the provincial government to resolve the matter immediately.
Related news categories: business economic-indicators misc oilgas-exploration oilgas-marketing

Saudi Aramco floatation values oil giant at $1.7tn
Saudi Arabia - Saudi Arabia has placed a preliminary valuation on state oil company Aramco of between $1.6tn (£1.22tn) and $1.7tn. The company has published an updated prospectus for its initial public offering (IPO), seeking more than $25bn for the sale of 1.5% of its shares. This would make it potentially the world’s biggest IPO, coming from the world’s most profitable company. It is short of the $2tn valuation that Crown Prince Mohammed bin Salman was reportedly keen to achieve. “The base offer size will be 1.5 percent of the company’s outstanding shares,” the state-owned energy giant said in a statement that set the price range at 30-32 Saudi riyals per share ($8-$8.5). That could value the IPO at as much as 96bn riyals ($25.60bn) at the top end of the range.
Related news categories: business misc helpline: +92-42-3631-4186 (10:30am to 5:30pm)