Noor Financial divests another 0.28 percent share in Meezan Bank to foreign buyers
Meezan is Pakistan’s biggest Islamic bank with a retail banking network of more than 600 branches in more than 150 cities of the country.
Asian shares fall, tracking losses in Europe
Japan’s Nikkei 225 slumped 0.9 percent to 22,280.91 while South Korea’s Kospi was down 0.7 percent to 2,460.75. Hong Kong’s Hang Seng index fell 0.7 percent to 30,590.00.
Oil prices mixed but expected output increase drags
The spread between Brent and WTI crude stands at around $8.7 a barrel, the widest since March 2015 due to the depressed price of U.S. crude compared to Brent
Will the new boss at the PSX clean house?
The new CEO of the country’s only stock exchange has big plans to expand investor participation in Pakistan. But does he dare take on the power of the brokers?
Shan Foods, intent on spicing it up with a listing on the bourse
With disposable incomes on the rise, the Pakistani international spices giant not just doubles its size in the last three years, but with new products and an acquisition part of its expansion plans, the family-run business is evaluating tapping into funds from the capital market
FIA, customs fail to take action against websites selling non-custom paid vehicles
ISLAMABAD: Social media websites have become a hub of sale and purchase of non-custom paid vehicles smuggled through the Afghanistan border. The...
Russia, OPEC willing to increase oil output under US pressure
Raising production would ease 17 months of strict supply curbs amid concerns that a price rally has gone too far, with oil having hit its highest since late 2014 at $80.50 a barrel this month
KPMG UK undertaking internal review into its audit of Abraaj: Report
The proximity of ties between top executives at KPMG and Abraaj in Dubai will also come under the scanner
Rupee further plunges against the dollar, touches Rs119.05 in kerb market
On Tuesday, credit rating agency Moody’s projected the rupee could plunge by 7.75 percent and touch Rs125 to the dollar by June 2019.
Abraaj took out $200 million from buyout fund to finance its own business: Report
U.S private equity firm TPG is in negotiations with investors in Abraaj’s healthcare fund to overtake management of the assets of the $1 billion fund
IMF to incorporate Islamic finance to market surveillance in 2019
Islamic finance, which bans interest payments and pure monetary speculation, is estimated to have over $2 trillion of assets globally and is offered in over 60 countries, according to the IMF
Asian shares shaky but North Korea’s stance soothes nerves
MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat, while South Korea’s Kospi pared much of its earlier loss of 0.9 percent. Japan’s Nikkei was up 0.1 percent
Oil prices dip, as Russia hints it may gradually raise output
U.S. crude oil production has risen by more than a quarter in the last two years, to 10.73 million barrels per day (bpd)
Noor Financial sells 2.49 percent stake in Meezan Bank to foreign investors
Earlier this month Noor Financial Investment Company (Noor) had sought State Bank of Pakistan’s (SBP) approval for divestment of 9.59 percent of its 49.1 percent stake in Meezan Bank Limited
Dollar spikes to Rs118.7 in kerb market amid supply constraints
KARACHI: The State Bank of Pakistan’s stipulation for submission of identification proof before buying and selling of foreign currency more than $500...