PAKISTANI RUPEE MOVEMENT: Pak Rupees weakened during the week in inter-bank market as it opened on Monday at Rs.104.60/80 while it closed last Friday at Rs.104.85/105.00 .This Friday it closed at Rs.104.60/80 In the open market ,Pak Rupee was Rs.104.30/104.60 on Monday while it closed this Friday at Rs.104.35. [divider style=”normal” top=”20″ bottom=”20″] GBP/USD WEEKLY OVERVIEW Sterling fell to a seven-week low despite strong U.K. growth rates in the third quarter, but the royal currency was still hurt by dollar’s strength. Strong U.K. growth data couldn’t support the pound due to negative pressures on the royal currency, especially as the…
Author: AdminPAGE
BULLISH SPELL DEEPENS AT PSX A bullish trend continued on Pakistan Stock Exchange (PSX) and the benchmark KSE-100 gained another 351.01 points to end at the level of 49,364.83 points on Friday. The daily trading volumes increased to 459.724 million shares as compared to 456.497 million shares traded Thursday. The market capitalization increased by Rs75 billion to Rs9.904 trillion. Out of total 425 active scrips, 262 closed in positive, 154 in negative while the value of 9 stocks remained unchanged. Telecard was the volume leader with 49.057 million shares. [divider style=”normal” top=”20″ bottom=”20″] WALL STREET DECLINES BEFORE TRUMP’S INAUGURATION US…
MARKET REVIEW Index started the week with the much anticipated correction but staged a recovery towards the latter half of the week as some positive stimulus provided the support. KSE-100 closed the week at 49,365pts with a marginal WoW increase of 0.3%. Foreign Institutions Portfolio investment (FIPI) registered net outflow of US$46.6mn. Average volume traded decreased by 20.5% WoW while average value traded decreased by 2.3% WoW. After remaining in red for the first two days, index recovered from the correction on the back of some sector specific positive news’. The index was supported by positive news on potential continuation…
BULLS BREAK LOSING STREAK TO TOSS INDEX ABOVE 49,000 SUMMARY Pakistan stocks continued its decline on Monday, Tuesday and Wednesday shedding 568 points. Finally in the last two days bulls took over and added 723 points to close at 49,364.83 points on Friday. The average volume during the week declined to 389 million compared to 489 million last week. The paid up capital closed on Friday higher at Rs9.904 trillion. On Monday, bearish trend persisted as KSE-100 Index lost 322 points to close at 48,888.54. Trading activities too remained low as the volume declined to 316 million. The regulation of…
CHINESE CONSORTIUM ACQUIRES 40PC STAKE IN PAKISTAN STOCK EXCHANGE The purchase agreement of 40 percent stake in Pakistan Stock Exchange (PSX) by a Chinese consortium, which had emerged as the highest bidder for acquiring 40 percent stake in PSX was the event of the week opening new avenues in the capital market of Pakistan. Federal Finance Minister and Senator, Ishaq Dar, witnessed the signing ceremony of share purchase agreement of Pakistan Stock Exchange’s (PSX) equity stake between PSX and Chinese consortium. This landmark development has uplifted PSX a regional exchange after off loading 40 percent equity to Chinese consortium. The…
PAKISTAN: A FEW GOOGLE HOME OWNERS ALREADY HAVE BLUETOOTH ENABLED: At Google I/O 2017, the company proclaimed that it is working to let owners of Google Home use Bluetooth streaming. It will be available soon on Google Home, which lets a user stream any audio from other devices, not only those which are running a compatible app. YOUTUBE ON ANDRIOD TV PLAYS CATCH-UP WITH NEW DESIGN, AUTO-PLAY CONTROLS: Android TV can’t be able to get more fame at Google I/O, but it is still alive in the minds of people. Google has aimed to roll out a new update to…
KUWAIT PLANS TO MANAGE ITS OWN ASSETS AS WORLD’S FIFTH LARGEST SOVERIGHT WEALTH Davos, Dubai: Kuwait Investment Authority is planning to manage more of its own assets as the world’s fifth-largest sovereign wealth fund seeks to take more risk to boost returns. The KIA, as the fund is known, wants to increase the allocation of funds managed in-house to as much as 8 per cent from 1 or 2 per cent at present, Managing Director Bader Al Sa’ad said in an interview with Bloomberg Television on Wednesday at the World Economic Forum in Davos, Switzerland. The KIA has $592 billion…
PKR: LITTLE CHANGES The rupee moved slightly in relation to the dollar on Friday in the process of trading, Kamal Hayder, Research Analyst-PAGE said. The rupee gave up overnight gains in relation to the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectively. Inter-Bank Market Rates: In the final Asian trade, the dollar lost momentum as US Federal Reserve Chair Janet Yellen spoke of a gradual pace of rate hikes and sounded less hawkish than some had expected, while investors braced for US President-elect Donald Trump to be sworn in. The dollar index, which tracks the greenback…
DROUGHT HITS SUGAR PRICES IN INDIA The two years of drought and climate-related challenges are creating a whiplash in sugar prices as largest producer Maharashtra struggles to supply the nation. And though as households, we spend only 3% of our monthly food budget on sugar, eventually we also pay for the more expensive sugar in ready-to-eat foods, ice creams, sweets, snacks, cold drinks, confectionery, and restaurant meals. The food and hospitality industry, which buys 65% of the country’s sugar, passes on the price increases to us. Maharashtra, which contributes a third of India’s total supply, is expected to produce 40%…
SHAHEEN AIR INTERNATIONAL WELCOMES A NEW AIRBUS A319 TO ITS FLEET Resplendent in gold, the new aircraft dons the new livery of Shaheen Air and truly encapsulates the company’s values and standards Shaheen Air is elated to announce the inclusion of a new aircraft to its fleet. The arrival of the new Airbus A319 marks a historic milestone for the company as it rebrands itself. The aircraft revealed the new logo of Shaheen Air that aptly compliments the entity’s vision and innovation in setting new standards in the field of aviation. The new jet is first-in-line to don the new…
[dropcap]A[/dropcap]n economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] [padding right=”15%” left=”15%”][/padding][tie_list type=”plus”] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous LABOUR Unemployment Rate 5.9Â % 15-December 6 Employed Persons 57420Â Thousand 15-December 56520 Unemployed Persons 3620Â Thousand 15-December 3580 Population 190Â Million 15-December 186 Living Wage Family 49600Â Rs/Month 16-June 48600 Living Wage Individual 17600Â Rs/Month 16-June 17000 Wages High Skilled 43600Â Rs/Month 16-June 51100 MONEY Interest Rate 5.75Â % 16-December 5.75 Interbank Rate 5.9Â % 16-October 5.9 Money Supply M0 4247455Â Rs. Million…
PAKISTANI RUPEE MOVEMENT: Pak Rupees weakened during the week in inter-bank market as it opened on Monday at Rs.104.60/80 while it closed last Friday at Rs.104.85/105.00 .This Friday it closed at Rs.104.60/80 In the open market. Pak Rupee was Rs.104.30/104.60 on Monday while it closed this Friday at Rs.104.35. [divider style=”normal” top=”20″ bottom=”20″] GBP/USD WEEKLY OVERVIEW Sterling fell to a seven-week low despite strong U.K. growth rates in the third quarter, but the royal currency was still hurt by dollar’s strength. Strong U.K. growth data couldn’t support the pound due to negative pressures on the royal currency, especially as the…
MARKET REVIEW The index traded sideways closing the week flat at 49,210 points. Broadly, market saw a cautious stance by the investors amid political uncertainty and heavy foreign selling. Foreign Institutions Portfolio investment (FIPI) registered net outflow of US$46.2mn. Average volume traded increased by 19.7% WoW while average value traded increased by 6.6% WoW. Index started the week on a dull note with textile sector as an exception as investors took bets on much anticipated export relief package to be announced by the Prime Minister. The announcement of PRs132bn on Tuesday provided further conviction throughout the week. Engineering sector continued…
INDEX SETS HISTORIC MARK OF OVER 49,000; PROFIT-TAKING PARES DOWN GAINS SUMMARY It was a volatile week for PSX as KSE-100 index during the week went all time high 49,517.02 while profit-taking during the week ended stock on Friday at 49,210 a gain of 172.27 points. Two major development during the week were: i) cessation of subsidy on fertilizer (banning imported urea) followed by increased prices of local manufacturers and ii) announcement of much awaited Rs.180 billion export package of the government. The average volume increased to 488.87 and the market capitalization was Rs.9.859 trillion. On Monday the bench mark-100…
PAKISTAN: A FEW GOOGLE HOME OWNERS ALREADY HAVE BLUETOOTH ENABLED: At Google I/O 2017, the company proclaimed that it is working to let owners of Google Home use Bluetooth streaming. It will be available soon on Google Home, which lets a user stream any audio from other devices, not only those which are running a compatible app. YOUTUBE ON ANDRIOD TV PLAYS CATCH-UP WITH NEW DESIGN, AUTO-PLAY CONTROLS: Android TV can’t be able to get more fame at Google I/O, but it is still alive in the minds of people. Google has aimed to roll out a new update to…
NATIONAL BANK OF OMAN Q4 NET PROFIT SLIPS 19.9PC Dubai: National Bank of Oman (NBO), the sultanate’s third-largest lender by assets, posted on Thursday a 19.9 per cent fall in fourth-quarter net profit. The lender made a profit of 13.68 million rials ($35.5 million, Dh130 million) in the three months to December 31, experts calculated based on previous financial statements in lieu of a quarterly breakdown. This was down from 17.07 million rials over the same period of 2015. EFG Hermes had forecast the bank would make a quarterly net profit of 14.35 million rials, while Gulf Baader Capital Markets…
PKR: RATES ALMOST UNCHANGED Steadier trend was witnessed on the money market on Friday in the process of trading, Kamal Hayder, Research Analyst-PAGE said. The rupee almost unchanged against the dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively. In the final Asian session, the dollar inched up from a five-week low against the yen and steadied against the broader basket of currencies, while the markets brushed off softer-than-expected Chinese exports figures. [divider style=”normal” top=”20″ bottom=”20″] TURKMENISTAN ORGANIZES COMPANY FOR TAPI PROJECT FINANCING Turkmenistan has established a company for financing Turkmenistan-Afghanistan-Pakistan-India (Tapi) gas pipeline project and allocated…
AIRTEL PAYMENTS BANK OFFERS 7.25PC INTEREST NEW DELHI: Airtel Payments Bank on Thursday launched nationwide operations, offering 7.25% interest on savings bank balances, which is more than the maximum 7% paid by SBI on its fixed deposits. The only catch is that the payments banks, which do not offer loans and several other facilities offered by full fledged rivals, are not allowed to accept deposits beyond Rs 1 lakh in bank accounts, which will have the same number as your mobile number. Bharti Airtel chairman Sunil Bharti Mittal said that the higher interest rate and freebies such as life insurance…
UBER HIRES SAFEE SHAH AS GM FOR PAKISTAN Uber, the international smartphone app that seamlessly connects riders to drivers, and operating in Lahore and Karachi; two of Pakistan’s largest cities has recently hired Safee Shah as the GM for Uber in Pakistan. Safee will be heading Uber in Pakistan as the company looks to expand its operations and range of services across the country. Uber helps millions of people every day to move around their city, offering access to affordable, reliable and most importantly safe rides in over 500 cities worldwide at the simple push of a button. Safee Shah,…
[dropcap]A[/dropcap]n economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] [padding right=”15%” left=”15%”][/padding][tie_list type=”plus”] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous LABOUR Unemployment Rate 5.9Â % 15-December 6 Employed Persons 57420Â Thousand 15-December 56520 Unemployed Persons 3620Â Thousand 15-December 3580 Population 190Â Million 15-December 186 Living Wage Family 49600Â Rs/Month 16-June 48600 Living Wage Individual 17600Â Rs/Month 16-June 17000 Wages High Skilled 43600Â Rs/Month 16-June 51100 MONEY Interest Rate 5.75Â % 16-December 5.75 Interbank Rate 5.9Â % 16-October 5.9 Money Supply M0 4247455Â Rs. Million 16-Nov…
[dropcap]A[/dropcap]ttock Refinery Limited (ARL) is the pioneer and pacesetter of Pakistan’s petroleum refining industry. Set up in 1922, the Refinery consisted of two small stills of 2,500 barrel per day (bpd). It was expanded in late thirties and early forties to a total capacity of 10,000 bpd. In 1981 addition of two distillation units enhanced the Refinery’s capacity to 35,000 bpd. In 1999 it was further up-graded with the addition of a Heavy Crude Unit, a Reformer unit and a Captive Power Plant with the capability to process from the lightest to the heaviest (10 – 65 API) crudes increasing…
Interview with Raziuddin Razi — CEO, Khyber Pakhtunkhwa Oil & Gas Co Ltd [box type=”shadow” align=”” class=”” width=””]Profile Raziuddin Razi, who is the Chief Executive Officer of Khyber Pakhtunkhwa Oil & Gas Company Limited (KPOGCL) for one and half years having a vast experience and worked in both international and domestic energy sectors. Raziuddin, who did his MSC and MBA from Michigan and New York Universities, served in Pakistan Planning Commission as Chief Energy. He also served in Saudi Royal Commission as Technical Advisor. He was also the CEO of Attock Refinery from 1997 to 2005. Raziuddin was also the…
PAKISTANI RUPEE MOVEMENT: Pak Rupees weakened during the week in inter-bank market as it opened on Monday at Rs.104.60/80 while it closed last Friday at Rs.104.85/105.00 .This Friday it closed at Rs.104.60/80 In the open market. Pak Rupee was Rs.104.30/104.60 on Monday while it closed this Friday at Rs.104.35. [divider style=”normal” top=”20″ bottom=”20″] GBP/USD WEEKLY OVERVIEW Sterling fell to a seven-week low despite strong U.K. growth rates in the third quarter, but the royal currency was still hurt by dollar’s strength. Strong U.K. growth data couldn’t support the pound due to negative pressures on the royal currency, especially as the…
MARKET REVIEW Index rode on the positive momentum and continued with the re-rating story this week. Even the investors’ cautiousness over an expected technical correction didn’t hamper the upward march as index closed the week at 49,038pts, up 2.6% WoW. Foreign Institutions Portfolio Investment (FIPI) registered net outflows of US$2.04mn. While the average volume traded increased by 42.8% WoW and the average value of shares traded increased by 43.8%. Continuation of the positivity surrounding the re-rating theme led index to close yet another week at an all-time high. Fertilizers garnered investors’ attention in the initial trading sessions as strong sales…
INDEX CROSSES MILESTONE OF 49,000 MARK, NEW YEAR BEGINS ON STRONG POSITIVE NOTE SUMMARY The week started with a bang on Monday crossing 48,000 levels while it closed on Friday creating a milestone of closing above 49,000 levels to 49,038.23, an all-time new peak. During the week, the fundamental news of Panamagate case, the crude oil prices, the announcement of inflation number, the expectation of announcement of textile package and positive development in steel sector kept the market moving. The KSE-100 Index gained 2.6% WoW or 1231.26 points . The average volume jumped to 408 million shares from 286 million…
PAKISTAN: A FEW GOOGLE HOME OWNERS ALREADY HAVE BLUETOOTH ENABLED: At Google I/O 2017, the company proclaimed that it is working to let owners of Google Home use Bluetooth streaming. It will be available soon on Google Home, which lets a user stream any audio from other devices, not only those which are running a compatible app. YOUTUBE ON ANDRIOD TV PLAYS CATCH-UP WITH NEW DESIGN, AUTO-PLAY CONTROLS: Android TV can’t be able to get more fame at Google I/O, but it is still alive in the minds of people. Google has aimed to roll out a new update to…
COST OF LIVING IN ABU DHABI TO RISES AS MUNICIPALITY FEE KICKS IN Abu Dhabi: The municipality fee on tenants in Abu Dhabi that is being collected starting this month will create the perfect storm in raising the cost of living in the emirate following hikes in water and electricity tariffs as well as fuel subsidy cuts. Analysts say that the fee, amounting to 3 per cent of a tenant’s annual rent, is likely to push down consumer spending in Abu Dhabi, especially amid a backdrop of uncertainty in the economic environment and job cuts across many industries. Just recently…
PETROLEUM LEVY: FIA RECOVERS RS 440 MN FROM OMCS Federal Investigation Agency (FIA) has made significant progress in investigation into embezzlement, worth billions of rupees, allegedly committed by oil marketing companies (OMCs) in collection of petroleum levy and recovered Rs 440 million. According to an official, the OMCs have deposited Rs 440 million in the national exchequer. Interior Minister Chaudhry Nisar Ali Khan on December 28 last directed the FIA to investigate the embezzlement allegedly committed by the OMCs in collection of petroleum levy. He further directed the agency to expedite the pace of investigation in this regard, he added.…
WRAP UP RS 70,000 CRORE AIR INDIA SCAM PROBE BY JUNE, SC SAYS CBI NEW DELHI: The Supreme Court ordered the CBI on Thursday to complete probe into the alleged Rs 70,000 crore scam in purchase and leasing of aircraft by Air India during UPA-I government in 2005-06. Attorney General Mukul Rohatgi informed a bench of Chief Justice J S Khehar and Justices N V Ramana and D Y Chandrachud that CBI had registered an FIR in 2013 and has already examined 55 witnesses. “CBI has requested UK for certain information and has so far examined 55 witnesses. Investigations are…
OUTLOOK OF ISLAMIC BANKING AND FINANCE Due to sharply declined trends in Oil prices, slow economic pace & Arab spring, the trend of the Islamic Banking & Finance had been slow paced in 2016 in Middle East and Arab region, while a sufficient development was recorded in Africa, Central Asia & Far East. especially in African market. For the broader understanding of Islamic Finance Industry, we can divide Islamic Finance industry into five major components e.g. Islamic Banking, Sukuk, Islamic Fund/Asset Management, Takaful & Islamic Microfinance. Islamic Banking is the greatest contributor in Islamic Finance Industry, which contributes 80% to…
[dropcap]A[/dropcap]n economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] [padding right=”15%” left=”15%”][/padding][tie_list type=”plus”] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous LABOUR Unemployment Rate 5.9Â % 15-December 6 Employed Persons 57420Â Thousand 15-December 56520 Unemployed Persons 3620Â Thousand 15-December 3580 Population 190Â Million 15-December 186 Living Wage Family 49600Â Rs/Month 16-June 48600 Living Wage Individual 17600Â Rs/Month 16-June 17000 Wages High Skilled 43600Â Rs/Month 16-June 51100 MONEY Interest Rate 5.75Â % 16-December 5.75 Interbank Rate 5.9Â % 16-October 5.9 Money Supply M0 4247455Â Rs. Million 16-November…
PAKISTANI RUPEE MOVEMENT: Pak Rupees weakened during the week in inter-bank market as it opened on Monday at Rs.104.60/80 while it closed last Friday at Rs.104.85/105.00 .This Friday it closed at Rs.104.60/80 In the open market. Pak Rupee was Rs.104.30/104.60 on Monday while it closed this Friday at Rs.104.35. [divider style=”normal” top=”20″ bottom=”20″] GBP/USD WEEKLY OVERVIEW Sterling fell to a seven-week low despite strong U.K. growth rates in the third quarter, but the royal currency was still hurt by dollar’s strength. Strong U.K. growth data couldn’t support the pound due to negative pressures on the royal currency, especially as the…
MARKET REVIEW The week started on a positive note, after three consecutive sessions of profit-taking. Despite oil prices supporting the heavy weights, index was only able to post nominal gains over the week and closed at 47,807pts (up 2.5% WoW). The closing however was an all-time high, providing a befitting end to CY16 where market performed 46% with Foreign Institutions Portfolio Investment (FIPI) registering an outflow of US$340mn. On WoW basis, the average volume traded decreased by 15.1% and the average value of shares traded decreased by 14.1%. Cherry picking was followed by investors during the week, especially in the…
BULLISH RALLY ENDS YEAR TO FRESH RECORD HIGH SUMMARY The last week of 2016 at Pakistan Stock Exchange (PSX) in a bullish trend endorsed the excellent performance of PSX being declared as Best Market in Asia with 46% return.PSX was not only top performing amongst Asian markets but also it was the top performing market in MSCI Frontier Markets. PSX posted 5th highest return in the world. The landmark development during 2016 was sale of 40% share of PSX to Chinese consortium at $215 million hoping new products and better governance that will go a long way in development of…
PAKISTAN: A FEW GOOGLE HOME OWNERS ALREADY HAVE BLUETOOTH ENABLED: At Google I/O 2017, the company proclaimed that it is working to let owners of Google Home use Bluetooth streaming. It will be available soon on Google Home, which lets a user stream any audio from other devices, not only those which are running a compatible app. YOUTUBE ON ANDRIOD TV PLAYS CATCH-UP WITH NEW DESIGN, AUTO-PLAY CONTROLS: Android TV can’t be able to get more fame at Google I/O, but it is still alive in the minds of people. Google has aimed to roll out a new update to…
UAE URGES OPEC TO DECLARE PLANS OF CUTTING PRODUCTION Abu Dhabi: The UAE energy minister urged Opec (Organisation of the Petroleum Exporting Countries) members to inform their customers about their plans of cutting production in line with the decision taken at the Opec meeting in Vienna on November 30. Opec members agreed last month to slash production by 1.2 million barrels per day in order to prop up oil prices. “As you saw the GCC [Gulf Cooperation Council] companies announced to the consumers that they are about to reduce (production) and we call on all Opec members that committed to…
WELCOME NEW YEAR 2017: KAMAL People are ready to welcome New Year 2017 with a lot of spirit and joy as New Year is the time of enthusiasm, optimism, and hope for a better, peaceful, and more stable future, Kamal Hayder, Research Analyst-PAGE said. It is the largest global celebrations including Pakistan which marks the last day of the year and welcome New Year 2017 with new hopes. Resolutions are made, new aspirations are born, and goals are decided for the coming time. Some major cities organise fireworks show, which are set off at midnight and host cultural festivals, music…
BANKS TO SLASH INTEREST RATE MUMBAI: Nudged by the government, banks are poised to slash interest rates in the next few days as they move in lockstep with the administration to lift the spirits of borrowers following the dislocation caused by demonetisation and the 50 days sought by Prime Minister Narendra Modi come to an end. Bankers said the reduction in lending rates could be accompanied by a steeper cut in deposit rates. Large commercial banks currently pay about 7 per cent for one-year deposits and charge 8.9 per cent for loans of the same tenor. A senior bank official…
NBP MAKES SIGNIFICANT STRIDES IN PMYBL SCHEME Loan disbursements of the National Bank of Pakistan (NBP) under the Prime Minister Youth Business Loan (PMYBL) scheme rose to approximately Rs.15 billion with total number of borrowers exceeding 14,700 by December, 28 2016. “NBP effectively improved its internal processes for disbursement, and as a result we have witnessed significant growth in loan figures disburse under the PMYBL scheme,” said the NBP spokesperson. “Last year, the total portfolio of PMYBL Scheme was Rs. 6.25 billion and the total numbers of borrowers were 6,791.This year with 140 % increase in loan portfolio size, a…
[dropcap]A[/dropcap]n economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] [padding right=”15%” left=”15%”][/padding][tie_list type=”plus”] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous LABOUR Unemployment Rate 5.9Â % 15-December 6 Employed Persons 57420Â Thousand 15-December 56520 Unemployed Persons 3620Â Thousand 15-December 3580 Population 190Â Million 15-December 186 Living Wage Family 49600Â Rs/Month 16-June 48600 Living Wage Individual 17600Â Rs/Month 16-June 17000 Wages High Skilled 43600Â Rs/Month 16-June 51100 MONEY Interest Rate 5.75Â % 16-November 5.75 Interbank Rate 5.9Â % 16-September 5.9 Money Supply M0 4166452Â Rs. Million 16-October…