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Weekly review: Geopolitics, tumbling regional markets, macro concerns allow bears to take control
KSE 100-share index shed 2.4% in the week to close at 22,160.85 points.
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Two month haul: Railways claims it earned Rs2.92 billion
The department claims it has earned Rs670 million more as compared to the corresponding period the previous year.
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SMS and call bundles will not be banned: PTA
The regulatory body said it was misquoted by the press.
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Govt may take LNG project to PPRA for clearance
SSGC board raises objections on award of import contract.
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Corporate results: Bank of Punjab more than doubles profits
Reversal of provisions, higher non-core income leave the bank Rs1 billion richer.
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Market watch: Karachi stock market ends week on muted note
Benchmark KSE-100 index falls 54 points.
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OMV finds gas, condensate in Mehar block
18mmscfd of gas, 1,550 barrels of condensate flow during testing.
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Hold your barrels: EIA report ‘exaggerates’ Pakistan’s shale potential
Experts suggest it is high time to carry out a focused study on shale gas and oil prospectivity.
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Fleet replacement: PIA seeks Rs3.3 billion for acquiring 10 aircraft
ECC to decide on flag carrier’s request in upcoming meeting.
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Inflationary pressure: Oil prices likely to rise up to Rs4.71 per litre
Fluctuations in international market putting pressure on local prices.
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PIA incurred accumulated losses worth over Rs169 bn
Accumulated losses of the airline amount to over Rs160 billion.
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WWF, PSIC sign MoU to promote water sustainability
Project aims to facilitate SMEs reduce consumption and pollutant load.
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Corporate results: PICT posts higher earnings as it adopts austerity
Operational efficiency pulls expenses down considerably, enhancing the bottom-line.
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Corporate results: Bank AlHabib’s profits dip amid low-interest rate environment
Bank pockets Rs2.43b in first half of 2013 as non-core income supports bottom-line.
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Oil and Gas Development Company withdraws controversial pay-raise
Company orders employees to return extra income received.
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Corporate results: Dawood Hercules Corporation triples its earnings
Engro’s turnaround, HUBCO payout, higher earnings of fertiliser division propel profits.
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Mango exports: First consignment dispatched to Australia
High commissioner urges Pakistan to maintain momentum, boost exports.
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Standard Chartered profit rises a whopping 86%
Earnings surge following a marked decrease in bad loans.
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Market watch: Investor uncertainty leads to a confused market
Benchmark KSE-100 index ends 21.6 points lower.
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Pakistan, China to work on biomass project
This is part of Punjab govt’s campaign to promote clean energy.
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Faisalabad’s entrepreneurial duo capitalise on retail boom
SB Retail Stores’ business model is simple: provide quality products.
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Corporate results: PSO profits surge to Rs12.557 billion
Company makes triumphant return, but investors prefer cash.
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Clash of clans: Cement makers face split in their ranks
Lucky Cement, the largest manufacturer, leaves association.
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Corporate results: Kot Addu Power Company’s profits grow despite shrinking top-line
Earn Rs7.35b in fiscal 2013 as efficiency gains, falling rupee support bottom-line, announces dividend of Rs4.5/share.
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Pakistan Steel losses pile up to Rs86 billion despite bailouts
Mill in a critical phase, cannot continue operations beyond September.
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Hunt for rich tax evaders: FBR to zero in on residents of upscale areas
Owners of expensive properties and luxury cars to be brought into tax net.
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Market Watch: Stock market continues to tumble
Benchmark KSE-100 index falls 287 points.
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Raising finance: Sino-Sindh Resources gets investment to develop Thar
Company to develop coal mine, 1,200MW power plant on the leased block.
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Technical training: Sindh’s informal sector growing, says report
Government tries to train workforce as more children enter labour market.
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Microsoft dismisses allegations of bribing government official
Says it sponsored official’s trip in compliance with company policy.
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Sino-Pak relations: Half-baked reforms a threat to stability
Pakistan needs to learn from China’s reforms management: planing minister.
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Centre refuses to promise repayment of Gilgit-Baltistan loans
Autonomous region seeking foreign funds for hydropower projects.
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No cut in flour price despite lower international rates
Cheaper imported wheat unlikely to bring any relief.
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Corporate results: Indus Motor pockets Rs3.35 billion in fiscal 2013
Earnings announcement beat street estimates, pays Rs15 per share as dividend to shareholders.
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Corporate results: Lotte Chemicals reports loss of Rs248m
Squeezing margins hit earnings, while subsidiary allows Rs200m in energy savings.
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Corporate results: Higher margin products propel Nestle Pakistan’s earnings by 20%
FMCG giant announces profit of Rs3.5b in first half of 2013.
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Legal Action: Technocrats threaten to file action against government
Economist Group opposes recruitment of country’s chief economist.
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Deepening ties: China to consider raising investment ceiling to $10b
Pakistan seeks more funds for mega development projects
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Big rise in tax revenues as reforms kick in
New measures lead to a 25% increase in revenues.
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Market Watch: Tumbling regional markets induce domino effect at KSE
Benchmark KSE-100 index falls 399 points.
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Pakistan welcomes new China-based rating agency
Says there is a need for floating financial products for public sector projects.
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'Within policy': Microsoft Pakistan confirms sponsoring trip for govt official
Denies that it was a bribe to win a government tender worth $9 million.
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Rescue scheme: Govt to borrow $12 billion to retire previous debts
Finance minister insists fresh loans will not increase the overall debt stock.
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Lafarge Pakistan Cement records stellar growth in earnings
Expanding margins, lower finance costs help cement producer earn Rs865m in six months.
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Energy crisis: US trains Pakistani engineers in load-management
Workshop held to familiarise technicians with equipment.
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Finance: Banking sector shows staggered growth
Declining interest income, outliers, dampen overall results.
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Sindh irked by attention given to Gadani
Decision to import coal for Gaddani is detrimental to Thar project: CM.
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Market watch: Delay in MPS announcement spurs new confidence in KSE
Benchmark KSE-100 index gains 208 points.
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Barter trade plan stalls, Iran cancels wheat export contract
Pakistan wants to ship 30,000 tons to pay unpaid power bills to Tehran.
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Public sector development programme: Work on Bhasha, Dasu Dams to start simultaneously
CDWP also approves import of electricity from Tajikistan.