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Karachi Stock Exchange scales another peak on foreign buying

Source: GEO News | 04-06-2013

KARACHI: With foreign investments flowing too freely as well as too steadily into the stocks, Karachi Stock Exchange (KSE), now one of the best performing bourses of the region, Tuesday closed higher to settle at yet another all-time high.

The benchmark 100-Index closed 0.88 percent, or 193.66 points, higher at 22,274.51 before the traders called it a day.

The foreign bulls parked big bucks in Muslim Commercial Bank, Pakistan Telecommunication Co Ltd, Pakistan State Oil Co Ltd and Lucky Cement.

On the other hand in the heat of the rally speculators scooped up low-priced stocks.

Among star performers Pakistan State Oil Co Ltd rose 1.23 percent at Rs302, while Muslim Commercial Bank closed up 4.43 percent at Rs281.

EU lifts ban on Pak fish exports

Source: Dunya News | 28-02-2013

Secretary Commerce Munir Qureshi on Wednesday told a local news channel that Pakistan’s two fish companies were allowed exports to European countries. He said exports would be started from March 12.A ban was imposed on country’s fish exports to EU in April 2007 because of poor hygienic conditions.Pakistan had been losing at least $50 million..... Read more

ECC's sugar policy seen denting local supply in Pakistan

Source: The News | 27-03-2013

A unit of the U.S. Department of Agriculture Tuesday said the shipping subsidy and lower excise tax linked to the export of as much as 1.2 million metric tons of sugar may lead to low inventory and high domestic prices in Pakistan. The decision by Economic Coordination Committee (ECC) of the cabinet and the Federal Board of Revenue (FBR) “is being h..... Read more

Trade deficit down 10pc during Jul-Feb

Source: The Nation | 13-03-2013

Pakistan’s trade deficit has significantly shrunk by 10 per cent during eight months (July-February) of the ongoing financial year 2012-13 period on the back of a continuous fall in imports and growth in exports during the period under review. According to the latest figures released by Pakistan Bureau of Statistics (PBS) on Tuesday, the trade defic..... Read more

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