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Pakistani stocks fall in the wake of Karachi terror

Source: The News | 05-03-2013

Pakistan's stock market closed lower on Monday, dragged down by violence in commercial capital Karachi, where at least 48 people died in a bomb blast on Sunday, traders said.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.29 percent, or 52.06 points, lower at 18,133.13 points.Some profit taking also weighed on the market, and a declinein international crude oil prices pushed down oil and gas exploration company shares.

Oil and Gas Development Company Ltd fell 0.61 percent to 206 rupees, while Lotte Pak rose 6.22 percent to 7.69 rupees.In the currency market, the rupee was almost steady at 98.13/98.18 against the dollar, compared to Friday's close of 98.15/98.20.Overnight rates in the money market rose to 9.25 percent from Friday's close of 9 percent.

Dollar sags in Asia on Syrian tension

Source: Geo News | 27-08-2013

TOKYO: The dollar edged down against the safe-haven yen in Asia on Tuesday due to concerns over a possible US military action against Syria. The dollar was at 98.29 yen in Tokyo afternoon trade, down from 98.51 yen in New York Monday afternoon. The euro bought $1.3373 and 131.45 yen compared with $1.3369 and 131.68 yen. The greenback lost ground in t..... 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

Auto industry dismayed over CCP report

Source: The Nation | 21-02-2013

The Competition Commission of Pakistan’s report of January 2013, on automobile industry, has been termed as arbitrary, unfair and distressful for the automotive sector. This was stated in an official response to CCP by Abdul Waheed, Director General, Pakistan Automotive Manufacturers Association (PAMA). While preparing the report CCP did not realiz..... Read more

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