Irfan Malik

  • 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-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 - 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 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 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 - 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 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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  • TKARACHI-Best brains of the Karachi Stock Exchange (KSE), and Securities Exchange Commission of Pakistan (SECP) for the third consecutive day failed to break deadlock on various proposals and find a concurrent solution acceptable to both the regulators. A source inside the KSE Board said that the ...

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  • TKARACHI - The Karachi Stock Exchange Board failed to achieve a major breakthrough during a meeting with the Securities and Exchange Commission of Pakistan for the second consecutive day Sunday, held to review proposals presented by the brokers. The KSE Board has agreed to keep the market open on ...

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  • TKARACHI - The desperate Karachi Stock Exchange (KSE) Board has forwarded two unusual proposals to the government demanding guarantees to bear the burden of losses to market and margin calls, if the stock market headed downward following the pumping of Rs 20 billion 'equity market fund' into the ...

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  • TKARACHI - State Bank of Pakistan (SBP) has shown its willingness to set up a fresh "Market Stabilization Fund" worth Rs20 billion and decided to increase the current banks paid up capital in equity markets coupled with cutting the stock buyback period from seven days to one day, informed sources ...

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  • TKARACHI - Economic weaknesses, rising circular debt and higher oil prices have made negative impact on oil consumption of the country, as a result of which, the oil consumption in the country posted a slight decline of 2.9 per cent, unveiled by the Oil Companies Advisory Committee (OCAC) data for ...

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  • TKARACHI - The Board of Directors of the Karachi Stock Exchange on Wednesday exercising the powers described in the Regulations of the Exchange, decided to place a floor based on closing prices of securities of Wednesday, August 27, whereby the individual security prices will remain free to trade ...

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  • TKARACHI - The crisis-ridden stock market showed a strong recovery in just two trading days, as the overall capitalisation of Karachi Stock Exchange has climbed up by Rs191 billion and the volumes moved up by 114mn shares mainly in the aftermath of President Musharraf resignation on Monday. ...

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  • TKARACHI - Karachiites celebrated the 61st Independence Day with usual zeal and fervour. The celebrations started on Wednesday night when different political parties took out rallies. As the clock struck 12 mid night, spectacular fireworks lightened the cloudy skies of the metropolis creating ...

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  • TKARACHI - The Descon Oxychem Limited (DOL) is going to conduct an initial public offer (IPO) of 32.5m ordinary shares at par value of Rs10 per share to the general public out of a total capital of Rs102.0m. The IPO is scheduled for August 6-7, 2008. It was revealed in an analyst briefing held ...

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  • TKARACHI - In a bid to bring the stock market out of current turmoil and to provide breathing space to the brokers and investors, the KSE has decided to reduce the limits of lower lock from five per cent to one per cent and increase the limits of upper lock from five per cent to 10 per cent. The ...

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  • TKARACHI - Sindh Chief Minister Syed Qaim Ali Shah while highlighting the initiatives, which will be taken in the current year, said that government would fill around 50,000 vacant jobs and create 8,000 new jobs in police department. In his budget speech CM Shah, outlined the development schemes ...

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  • TKARACHI - Mobile phone dealers and shopkeepers have started fleecing the consumers by charging additional amount ranging between Rs 500-700 on available stocks of mobile sets after the government imposed customs duty worth Rs500 on the import of mobile phones in the national budget, sources ...

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  • T    KARACHI - A local investor committed suicide after suffering financial losses due to a crash in the Karachi Stock Market. Deceased Abid Memon, 48, a resident of Garden East, was dejected after suffering huge losses resulting from a crash in the Karachi Stock Market and refusal ...

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  • TKARACHI-Federal Minister for Finance and Privatisation Syed Naveed Qamar has said that drastic cut would be made on non-development expenditure to bring down the whopping existing 29 per cent budget deficit this year to 6.5 per cent. Addressing a Press conference after a meeting with the ...

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  • TKARACHI - Utility stores have raised the prices of essential commodities on Sunday, the prices of cooking oil, flour and pulses soared up by Rs 20, Rs 20 and Rs 25-30 per kg respectively in the period of one week. Among the commodities, the prices of cooking oil and ghee during one week jumped ...

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  • TKARACHI - Speakers at a seminar have said that Pakistani Diaspora settled in the USA, UK and other European countries should do more in removing misperception about Islam in the West. They were speaking at 'Dialogue Series on Understanding Relations between Muslim World and the West' ...

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  • 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 - 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 - 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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