Business

Cash-strapped PSO's bank overdraft on Friday swelled to Rs38 billion against the limit of Rs40 billion.

Pakistan State Oil (PSO) has reduced furnace oil prices by Rs1,030 per ton, down 2.2 per cent to reach Rs46,226.

Prices of cotton fell by Rs100 per maund (37.324 kg) in the domestic market on Friday.

The stock market index will gain 18 per cent to reach 11,500 points in the second half of the year.

The stock market witnessed a decline on Thursday, putting an end to a four-day rally.

The SECP has filed a criminal complaint in a court against Cliktrade Limited, a securities brokerage firm.

The Managing Director of PSO said the PSO would be a defaulter soon if Rs60b outstanding dues were not provided.

Investor interest in oil and fertiliser companies helped boost major indices at the Karachi Stock Exchange.

The State Bank of Pakistan (SBP) on Wednesday sold treasury bills worth Rs100.02 billion.

The trade deficit narrowed 10.6 per cent during financial year 2009-10.

Hinopak is planning to export buses and trucks to the Middle East and Africa to help reduce the country’s trade deficit.

Foreign investors bought stocks, especially in the oil sector, which helped the KSE-100 gain 135.58 points.

The FBR has agreed in principle to reduce the rate of tturnover tax imposed on distributors.

The benchmark KSE-100 Index gained 135 points on Tuesday and managed to elude any sort of bearish spree.