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Site update: March 27 2017, at 17:00 PKST
Stock update: March 27 2017.

Recent Financial News in the 'economic-indicators' category

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Friday, March 24 2017

KSE-100 Index ends flat, but trading volume rises
KARACHI: Stocks halted their upward march on Wednesday, as the benchmark KSE 100-share Index ended flat and over 49,000-point mark. Stocks opened positive but succumbed to profit-taking soon enough before positive momentum carried the index near the 49,150 mark. However, investors decided to book profits in the afternoon after three successive days of gains. At close, the Pakistan Stock Exchange’s benchmark index recorded a fall of 3.42 points or 0.01% to finish at 49,016.79. Elixir Securities analyst Ali Raza said the market failed to carry momentum and struggled for direction early on as lower regional markets and declines in global crude dented sentiment.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Pakistan’s Shariah compliant segment expected to reach $17.6b
LAHORE: Provincial minister for finance Dr Ayesha Ghous Pasha said on Wednesday that Islamic banking services in Pakistan will continue to grow, estimating that the Shariah-compliant segment will reach $17.6 billion in assets by 2018. Islamic finance body drafts new standard for centralised sharia boards Speaking at the 5th Global Forum on Islamic Finance organised by COMSATS Institute of Information Technology in Lahore, Pasha said that Islamic banking has gained enormous attention both globally and locally.
Related news categories: business economic-indicators misc

Pakistan more prosperous now
LAHORE: Provincial Minister for Industries, Commerce and Investment Sheikh Alauddin on Thursday said Pakistan, in the present day, was more prosperous, secured and developed due to policies of the current government. Alauddin lauded the government’s efforts pertaining to businesses in the country, citing the example of China-Pakistan Economic Corridor (CPEC) as its biggest achievement. “CPEC will prove the greatest landmark in the history of Pakistan’s economy,” he said, while addressing the Pakistan Day ceremony at Aiwan-e-Iqbal in Lahore. The minister also said the Punjab government was taking solid steps to boost its industry and trade for which it was going to introduce a comprehensive industrial policy to address the issues. He urged people to love Pakistan because it was created after untiring efforts and sacrifices of their forefathers.
Related news categories: business economic-indicators misc

Here's how much PML-N govt has released for gas supply to win voter support
ISLAMABAD: Prime Minister Nawaz Sharif has used his discretionary powers for initiating gas supply schemes in constituencies of around 100 parliamentarians including federal ministers by doling out Rs27 billion worth of development funds. With the launch of these schemes, the government has lifted the moratorium on new gas connections imposed during the tenure of previous Pakistan Peoples Party (PPP) government because of acute gas shortage. Most of these projects are being implemented in Punjab, which are believed to be aimed at winning the support of voters in general elections next year.
Related news categories: business economic-indicators misc oilgas-exploration oilgas-marketing

High-powered committee on K-Electric to review Nepra’s decision
ISLAMABAD: Soon after Prime Minister Nawaz Sharif’s meeting with a high-profile Chinese delegation, a special ministerial committee went into an emergency huddle to seek review of multi-year tariff announced by the power regulator for K-Electric (KE) to avoid flight of prospective Chinese investment. The delegation led by Wang Binghua, chairman of State Power Investment Corporation of China — the parent company of KE’s new buyer Shanghai Electric — called on the prime minister on Wednesday. “They (Chinese) told the prime minister that the tariff model announced early this week by the National Electric Power Regulatory Authority (Nepra) did not provide incentive for fresh investment and hence unacceptable,” a participant of the meeting told Dawn. “They think the new tariff model has evaporated profitability.”
Related news categories: business company-news economic-indicators ise kse lse misc power-gen-dist psx stock-exchanges
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