SEP resubmits offer to acquire 66.4% stake in K-Electric
On December 21st, as per regulations, Shanghai Electric withdrew its offer due to lapse in the prescribed time period for making a public announcement of the offer
FBR to extend EPOS to retail stores and shopping malls
The tax department has informed the International Monetary Fund (IMF) that the government will extend the EPOS to retail chain stores and shopping malls till March 2019
Gold rises as U.S. political uncertainty breeds risk-aversion
Spot gold was up 0.6 percent at $1,263.91 per ounce as of 0458 GMT. The metal had hit its highest since early July at $1,266.40 on Thursday
Asian shares mixed on US partial shutdown, Wall Street slump
South Korea’s Kospi dropped 0.2 percent to 2,058.19 while the Shanghai Composite index rose 0.1 percent to 2,519.71
Oil dips on oversupply concerns ahead of Christmas holidays
International benchmark Brent crude futures fell 27 cents, or 0.5 percent, to $53.55 a barrel at 0106 GMT
A decade-long rally on Wall Street looks like it’s ending
Stocks are now headed for their single worst month since October 2008, when the market was being battered by the global financial crisis
Trump has discussed firing U.S. Federal Reserve chairman Powell: Bloomberg
Global financial markets, including Wall Street stocks, had been hoping for a more dovish policy outlook and sold off broadly
Malaysia seeks $7.5 billion in reparations from Goldman Sachs: FT
Goldman Sachs has consistently denied wrongdoing and said certain members of the former Malaysian government and 1MDB lied to the bank about the proceeds of the bond sales
U.S. third-quarter growth trimmed; business spending slowing
Gross domestic product increased at a 3.4 percent annualized rate, the Commerce Department said in its third reading of third-quarter GDP growth
Lower Asia temperatures and charter rates nudge LNG prices higher
India and Europe drove the LNG demand this week
Govt mulling reducing withholding tax rates on banking transactions: Report
In several documents, the government admitted the levying of withholding tax is a huge obstacle to the growth of the banking sector
Legal cigarette sales decline 7.4% in 2017: Oxford Economics
According to the report, actual government revenues were estimated to have increased by 8.3 per cent in fiscal year 2017/18, underpinned by an acceleration in legal domestic sales, which rose by an estimated 73.9% over the same period
Finance ministry will send summary to PM for SECP top slot
There are three candidates vying for the permanent chairmanship of the SECP which include SECP Commissioner, Shozib Ali, Farakh Sabzwari and Aamir Ali
IPO proceeds in 2018 plunged by 49% to Rs4.8 billion
AGP Pharmaceutical, one of the largest companies in the country’s pharmaceutical sector via its offer for sale (OFS) collected 65% of total raised capital during 2018
Oil slumps three percent, near lowest in a year as stock markets sink
OPEC and other oil producers including Russia agreed this month to curb output by 1.2 million barrels per day (bpd) in an attempt to drain tanks and boost prices