【Daily】29 Sept. Brief of Pak BizNews
KSE 100 45,274.93 ▲ 1.02%
KASB Tech Index 552.43 ▲ 4.8%
· The seven-day bearish spell at the Pakistan Stock Exchange finally came to a halt on Tuesday as bulls staged a return and tossed the benchmark KSE-100 index over the 45,000-point barrier.
· Investor participation revived at the bourse and widespread cherry picking in several sectors triggered a rally.
· Buoyed by the recent dip, share prices fell to attractive valuations and motivated market participants to assume fresh positions.
· The KSE-100 index recorded an increase of 457.17 points, or 1.02%, to settle at 45,274.93
PKR: a new all-time low
KARACHI: Pakistan's rupee ended at 169.97 against the US dollar in the inter-bank market on Tuesday, a new all-time low as the currency's slide continued to rattle the market as well as policymakers.
Rising world commodity prices, Covid variants; MoF highlights downside risks to economic outlook
ISLAMABAD: The Finance Ministry has highlighted that there are some downside risks to the outlook of economy associated with rising international commodity prices, new variants of virus, and geopolitical dynamics especially emerged post-August 15 scenario in Afghanistan.
Options to avoid looming crisis mulled over
ISLAMABAD: Pakistan Tuesday assessed the needs of Afghanistan and observed various options for immediate intervention, including food supply and capacity building to help the country and avoid the looming crisis.
OGRA increases prescribed gas price for SSGCL by 5.4%
The Oil and Gas Regulatory Authority (OGRA) has allowed the Sui Southern Gas Company Limited (SSGCL) to charge 5.4 percent more charges from gas consumers to recover its multi-billion rupees of shortfall.
ECC to approve 60% payment to 11 IPPs under Power Policy 2002
Islamabad: Economic Coordination Committee (ECC) is set to approve 60 percent payment to IPPs under power policy 2002.
CPPA-G payables; PD urges ECC to adjust pending tariff claims of KE
ISLAMABAD: Power Division (PD) is said to have proposed to Economic Coordination Committee (ECC) of the Cabinet to adjust pending tariff claims of Karachi Electric (KE) amounting to Rs 101 billion against its payables towards CPPA-G
GST dispute on power subsidy: ECC to give its decision on legality
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet is to give its verdict on legality of longstanding dispute on sales tax collection on subsidy being provided by the federal and provincial governments to consumers
Creditors likely to restructure Telecard’s ‘TFC Loan’
KARACHI: Creditors are expected to soon restructure TeleCard’s outstanding TFC loan of Rs 700 million, which would pave the way for the regulatory approvals for the planned IPO of its subsidiary, Supernet, the company said
Pakistani company Systems Ltd makes it to Forbes 'under $1bn' list for second year in a row
Lahore-based information technology company Systems Limited has been included in the Forbes list of Asia's Best Under A Billion for the second year in a row.
Merger with AKDSL; BIPL Securities BoD approves draft scheme of arrangement
KARACHI: The board of directors of BIPL Securities Limited (Company), in its meeting held here Tuesday, approved the draft scheme of arrangement subject to obtaining all necessary shareholders’, creditors’ and regulatory approvals and the sanction of the scheme by the High Court of Sindh along with fulfillment of related legal formalities.
OPEC forecasts oil demand rebound before post-2035 plateau
LONDON: Oil demand will grow sharply in the next few years as economies recover from the pandemic, OPEC forecast on Tuesday, adding that the world needs to keep investing in production to avert a crunch despite an energy transition.
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