Business
CPEC is mutually beneficial to Pakistan and China: Says Federal Minister Asad Umer
Karachi, November 23, 2019: While denouncing the statement of US foreign office diplomat Alice Well that China alone is the beneficiary of China-Pakistan Economic Corridor CPEC, Federal Minister for Planning and Development Asad Umer said that Pakistan is also an important beneficiary of this umbrella project in terms of energy and infrastructure. Federal Minister made…
Monetary Policy Statement by SBP
Karachi, November 22, 2019: At its meeting on 22nd November 2019, the Monetary Policy Committee (MPC) decided to leave the policy rate unchanged at 13.25 percent. The decision reflected the MPC’s view that recent developments have had offsetting implications for the inflation outlook. On the one hand, recent inflation outturns have been on the higher…
Pakistan Stock Exchange recovering majority of loss
Karachi, November 22, 2019: Market went into bullish mode again, recovering majority of loss incurred yesterday. During the session, the benchmark index gained 847 points and closed the session +824 points. The first session ended +395 points that gave confidence to investors to take positive bet on SBP policy rate decision, due to be announced…
Edotco Group to invest for development of telecommunication sector in Pakistan
Islamabad, November 22, 2019: A delegation from Malaysian Tower Company, edotco Group Sdn. Bhd, led by CEO edotco Group, Suresh Sidhu and Managing Director, edotco Pakistan, Arif Hussain met the Foreign Minister to discuss opportunities for future investment in the telecom sector and exchanged ideas on expansion of business in the country. The delegation gave an…
Pakistan Stock Exchange closing on an unadjusted note
Karachi, November 20, 2019: After managing a bull run that added ~10,000 points from its low, the market finally took corrective stance with index plunging 587 points and closing the session at that note (unadjusted). Selling pressure was evident in Cement, E&P, O&GMCs and Banking sector stocks. Although dust is seemingly settling on political front,…