Irfan Malik

  • TKARACHI - The government-run financial institutions and other lending institutions have agreed to buy shares from the 34 suspended brokers, who are unable to make payment of the Continuous Funding System, The Nation learnt on Friday. The financial institutions, however, would buy the shares with ...

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  • TKARACHI - National Clearing Company of Pakistan (NCCPL) on Monday announced that CFS MK-II market shall remain closed from December 15 (yesterday) till further notice on the basis of Legal Advice received in the light of order passed by the Sindh High Court at Karachi in a suit filed by various CFS ...

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  • TKARACHI - The floor rule on share prices will come to an end today as both Securities and Exchange Commission of Pakistan and Karachi Stock Exchange confirmed TheNation's report published on Sunday about showing no linkage between the ruling of the Sindh High Court over the petition filed by two ...

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  • TKARACHI-The step taken by Sindh High Court (SHC) on Saturday has no link with the decision taken by the Securities and Exchange Commission of Pakistan (SECP) and Karachi Stock Exchange (KSE) about the removal of floor on December 15, 2008, thus the floor will be lifted on Monday and the stock ...

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  • TKARACHI - Acting on the directive of Securities and Exchange Commission of Pakistan (SECP) over the removal of floor mechanism, the Karachi Stock Exchange (KSE) on Friday formally announced to remove the floor on the closing price of securities placed on August 28, 2008, from coming Monday (Dec ...

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  • TKARACHI-Securities and Exchange Commission of Pakistan (SECP) has directed the Board of Directors of Karachi Stock Exchange (KSE) to remove the floor mechanism on December 15, 2008. This was stated by the SECP Chairman, Razi-ur-Rehman in a meeting held on Friday between the Board of Directors and ...

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  • TKARACHI - The International Monetary Fund (IMF) has disapproved the government plan to inject the market support fund worth Rs20 billion into the Karachi Stock Market (KSE) before removal of floor mechanism aiming to salvage the crisis-ridden stock market from collapse, which had fallen down to ...

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  • TKARACHI - Karachi Stock Exchange (KSE) has been officially assured of getting Rs14.5 billion out of Rs20 billion promised by the government before the floor rule was lifted and the KSE had sent a summary to the government for the removal of floor. Whereas, the government had sent the summary to the ...

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  • TKARACHI - The board of directors of Karachi Stock Exchange (KSE) had decided to approach Advisor to PM on Finance Shaukat Tarin to confirm the reports that the International Monetary Fund (IMF) had restricted the government from lifting the floor rule. It was unanimously decided in the meeting of ...

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  • TKARACHI - The floor at the KSE, which was slapped three months ago, is likely to be removed on January 5, 2009, a key broker of the Karachi Stock Exchange, on the condition of anonymity, disclosed to The Nation here on Wednesday. He added that the government might inject the promised market support ...

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  • TKARACHI - The fate of floor mechanism is expected to be decided shortly after the new election of the board of directors of the Karachi Stock Exchange (KSE), which has been set for Dec 2, 2008. While the existing board of KSE in its long hours meeting held on Monday again failed to reach a decision ...

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  • TKARACHI - Eighty eight days have passed so far since the imposition of floor mechanism on August 27, 2008, but the full pace of withdrawal of foreign investment could not be reduced as the foreign investors have ejected $641 million from the equity markets in the first four months (July-November) ...

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  • TKARACHI - Pakistani cement cartel is raising the prices of commodity despite a downward trend in local sales and decline of coal price in international market by 50 per cent on per ton against the peak levels of over $200 per ton during July 2008. The coal, which is commonly used to fire up cement ...

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  • TKARACHI - The cellular subscriptions again slowed down in October after picking up slightly in the previous month. Overall, subscribers witnessed a nominal growth of 0.4 per cent in October as compared to 0.7 per cent in September to reach 90.5 million. Net subscriber addition in Oct has ...

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  • TKARACHI - Cement export showed an exceptional growth, crossing the mark of 1.00 million tonne per month and depicted a growth of 117.2 per cent Year on Year basis on the back of huge demand from Middle East and India. While, the local sales during the month of Oct continued its downward trend, ...

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  • TKARACHI - Profitability of the Exploration and Production (E&P) sector increased by 55 percent during the first quarter (July-Sep) of fiscal year 2009 due to soaring international oil prices, higher wellhead prices and depreciating value of rupee against dollar. As international prices, ...

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  • TKARACHI - Merrill Lynch and KASB Securities withdrew investment opinion on its Pakistan coverage "21 stocks" on Tusday due to continuation of stock price floor introduced on August 27, and uncertainty surrounding the withdrawal of the floor mechanism. While they see 40-50 per cent downside in the ...

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  • TKARACHI - After witnessing a sharp decline in profitability during fiscal year-08, the cement sector has come back strongly to post a growth of 167 per cent in earnings during first quarter (Jul-Sep) of fiscal year 2009. The cement sector posted profit after taxation of Rs1.3 billion in first ...

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  • TKARACHI - Advisor to Prime Minister on Finance Shaukat Tarin has said that Karachi Stock Exchange (KSE) liquidity crunch will end in November and added that proposed Rs20 billion fund will be injected into KSE to bail it out before the removal of the floor. He assured the entire amount would be ...

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  • TKARACHI - Senate Standing Committee on Finance has called the board of Karachi Stock Exchange (KSE) and leading brokers Aqeel Karim Dhedhi and Arif Habib on Thursday (today) to hold meeting in order to discuss the problems being faced by the members/investors and to draw a conclusion, which might ...

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  • TKARACHI - The total domestic off-take of Urea increased by 18 per cent while that of Di-Ammonia Phosphate (DAP) decreased by 64 per cent during nine months (January-September) of CY08 on year-on-year basis. As per the latest data released by the National Fertilizer Development Centre (NFDC), ...

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  • TKARACHI - The Karachi Stock Exchange (KSE) on Sunday extended "price freeze mechanism" in the shares of more than 650 financial companies, keeping it in place at least until after the government pumps promised funds into the stock market to bailout the trapped investors in continuous funding system ...

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  • TKARACHI - The members of Karachi Stock Exchange have termed the government's new measures of launching Rs20 billion market support fund along with government guarantee of Rs30 billion to foreign portfolio investors as a move to restrict only the downside in the government listed companies and ...

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  • TKARACHI - The Federal Government has established a Rs20 billion new market support fund to be injected in seven government-owned entities ahead of floor removal on Oct 27, besides issuing a Rs30 billion guarantee to those foreign investors, who avail put-up option for one year period. SECP ...

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  • TKARACHI - Banking sector of the country is likely to post 23 per cent decline on year-on-year basis in the first quarter of fiscal year 2009. Higher provisions are expected to remain the major cause for this decline. Bank of Punjab (BOP) is being expected to remain on negative zone during the ...

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  • TKARACHI-The cellular subscriptions witnessed a nominal growth of 0.7 per cent on month on month basis in September-08. The increase of 0.64 million subscribers this month is 68 per cent lower on Year on Year basis, average increase for the last year alone has been 1.8mn subscribers each month. ...

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  • TKARACHI - State Bank of Pakistan Governor Shamshad Akhtar has assured the directors of Karachi Stock Exchange to direct the scheduled banks to accept the property and other tools as a collateral to lend money to the investors of share market in order to match the margin exposures. Governor SBP ...

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  • TKARACHI - Net foreign investment inflows to Pakistan fell 9.7 per cent to $938.2 million in first quarter of fiscal year 2009 (July/Sep), as compared to $1.038 billion during the same period a year earlier, the State Bank of Pakistan said on Friday. Foreign private investment was $940 ...

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  • TKARACHI - The withdrawal of foreign investment triggered further with full pace despite the imposition of price floor in the Pakistani stock market, as the foreign investors ejected $574 million from the equity markets in only three and a half months from July to October 16, amid unprecedented ...

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  • TKARACHI - The government will initiate rescue measures to reassure the confidence of investors and brokers before the removal of price floor, as the Karachi Stock Exchange (KSE) Tuesday formally announced to remove the floor on October 27. Amidst continued recession in the stock markets, ...

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