Business
PSX index rose to touch an intraday high
Karachi, July 01, 2020: The benchmark index rose to touch an intraday high of +502 points before closing at 34,889 level (up 467 points). Traded volumes improved by 41 percent DoD to 315 million shares while value traded increased to US$63 million. Top volume stocks of the session were KEL (+9.0 percent), HUMNL (+7.8 percent)…
PACRA maintains A+ entity ratings of BankIslami Pakistan Limited
Karachi, July 01, 2020: The Pakistan Credit Rating Agency Limited (PACRA) has maintained BankIslami’s long-term entity rating at A+ (short term rating at A1) with a Stable Outlook. The ratings reflect BankIslami’s sustained risk profile. The Bank’s profitability enhanced owing to asset yield driven by peaked policy rates and volumetric increase in financing and instruments….
Textile exporters fear GoP could not release refunds in FY20-21: Bilwani
Karachi, July 01, 2020: Textile Exporters are fearing that Government in FY2020-21 would not be a in a position to refunds of 17 percent sales tax to exporters as well as customs rebate, duty drawback as of today a huge amount of worth billions of rupees of exporters is still stuck up with the Government…
Urea sales to jump 74pc YoY in Jun-2020
Karachi, July 01, 2020: Pakistan urea sales in Jun-2020 are expected to jump by 74 percent YoY, to clock in at 1,115k tons after clarification on Urea subsidy. The sales are likely to be highest recorded in the month of June during the last five years. Recall that in May-2020, dealers and farmers held back…
PSX market closes higher despite attack
Karachi, June 29, 2020: Market had an eventful session, marred by the attack on Pakistan Stock Exchange in the early hours of trading, which was fought off and well managed by the Security forces. The index went down by 220 points in the early part of the session, but gradually recovered with +268 points and…