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Pakistani stocks close higher, rupee weakens

Source: Dawn News | 01-02-2013

Pakistani stocks to a new high on Thursday, mainly supported by banks, but the cement sector drew strong interest with some investors buying on results and some taking profits.The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.22 percent, or 37.47 points, higher at 17,242.74.Expectations of imminent results kept cement on the radar.

Maple Leaf Cement closed 4 percent down after announcing its December results. Fauji Cement was up 2.43 percent at 8.01 rupees.Karachi Electric rose 3.23 percent to 6.07 rupees.Pakistan Telecommunication Corporation Ltd fell 0.96 percent to 18.54 rupees.In the currency market, the rupee ended weaker at 97.70/97.76 against the dollar, compared to Wednesday’s close of 97.64/97.69.Overnight rates in the money market fell to 6.50 percent compared to Wednesday’s close of 9.40 percent.

Growing presence of foreign airlines

Source: Dwan | 06-12-2012

The Middle Eastern airlines may reap rich dividends of a growing aviation market in Pakistan as pilots of the local industry struggle unsuccessfully to assume control of the lucrative sector.Heads down, people are waiting for the rough patch to pass, suppressing their fears of hard landing of the domestic aviation industry.The actual size of the aviation mar..... Read more

Rs 168m projects for uplift of livestock sector in Fata

Source: The Nation | 04-03-2013

To bring white revolution and fulfill people’s meat demands, the government has decided to launch two mega projects for uplift of livestock sector in Federally Administered Tribal Areas (FATA) areas shortly to bolster income of tribal people especially of women folk. One of the mega projects is “Calves Fattening Project” that would be ..... Read more

$520m to be repaid to IMF next month

Source: The Nation | 29-01-2013

Pakistan’s foreign exchange reserves would further deplete in next month, as Islamabad would repay $520 million to the International Monetary Fund (IMF) under the standby arrangement programme (SBA) in February 2013, it was learnt on Monday.Pakistan has repaid $2.52 billion to the IMF in seventh installments since February 2012 under SBA. Sources said ..... Read more

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