Oil prices rebound on expected stockpile drop
OPEC is due to meet in Vienna on June 22 to decide whether the group and non-OPEC members, including Russia, will raise production to ease concerns over potential supply shortfalls from Iran and Venezuela
Abraaj expects deal on secured debt, Kuwaiti creditor holds out
Dubai-based Abraaj Holdings is trying to push through a sale of Abraaj Investment Management to New York-based Cerberus Capital Management as it tries to stem the fallout from allegations it misused investor money in a $1 billion healthcare fund
Remittances could be dented due to investment restrictions
As per market players, this stipulation announced in the budget for FY19 and set to apply from the 1st of July has hampered the flow of billions of dollars in investments in the realty sector
Abraaj to meet lenders, shareholders Monday to discuss restructuring
DUBAI:Â Dubai-based Abraaj said it will meet lenders, shareholders and other invited parties on Monday to discuss the restructuring of the private equity...
Market Daily: KSE 100 starts positive, increases by 381.10 points
LAHORE:Â The Pakistan Stock Exchange (PSX) marked a positive beginning to the week. The weekend brought in the news of a smooth transfer...
Dawood Lawrencepur approves Rs70 million investment in right share issue of Reon Energy
It also gave go-ahead to an issuance of a corporate guarantee in favour of Allied Bank as a security against running finance/money market loan of Rs5 million to be obtained by Tenaga Generasi Limited
Automatic sharing of information with OECD to commence from September
Fifty-six countries have expressed willingness and officially issued a requisite requirement for automatic exchange of information with Pakistan
At-Tahur Ltd set to get listed on PSX later this month
This will be the third IPO of the year following Matco Foods and AGP Pharmaceutical’s listing on the bourse in January and February respectively
Rupee plunges to record low against dollar, touches Rs119.35 in kerb market
Many expecting an imminent devaluation of the rupee have started holding onto their dollars foreseeing a better return later
Global trade friction puts Asian factories, export recovery at risk
The biggest risk for China’s vast manufacturing sector, which posted surprisingly steady growth this year, stems from a potentially crippling trade war with the United States, analysts say
Bestway Cement completes construction of brownfield expansion project
Last April, Bestway Cement (BCL) had shelved its plan to acquire Dewan Cement Ltd’s (DCL) north plant due to legal uncertainties and delays that arose in light of the court proceedings initiated in the Sindh High Court
Crude oil eases on record U.S. production, OPEC supply hopes
Global benchmark Brent crude, which was little changed in the previous session, was down 9 cents, or 0.1 percent, to $77.47 per barrel
Taimur Dawood resigns as CEO of Descon Oxychem
Taimur Dawood has been replaced as CEO by Imran Qureshi who has over two decades of experience in the chemical industry and has had stints with AkzoNobel and ICI
Asian stocks trade higher, disregard Wall Street losses
Japan’s Nikkei 225 index added 0.4 percent to 22,283.54 and the Kospi in South Korea jumped 0.8 percent to 2,441.33. Hong Kong’s Hang Seng index edged 0.1 percent higher to 30,491.64.
Colony NorthStar ends talks with Abraaj to acquire fund management unit: Report
Reuters on Thursday reported creditors were seeking legal advice from law firm Clifford Chance on the potential action they could initiate against Abraaj in wake of worries over its ability to repay its debt, two sources close to the matter revealed