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January 20, 2018 12:00 AM Stocks rise over one percent on foreign buying; auto leads

Stocks gained 1.3 percent on Friday, buoyed by auto and financial shares while offshore investors continued to be net buyers and added fuel to a rally that started towards the start of the week, dealers said. Analyst Ahsan Mehanti at Arif Habib Corp said bullish activity was witnessed in scrips across the board. “(Prime Minister) PM’s approval for amnesty

January 18, 2018 12:00 AM State Bank launches systemic risk survey

KARACHI: The State Bank of Pakistan (SBP) has rolled out a Systemic Risk Survey (SRS) to gauge the views of market participants and experts about various existing and emerging risks that can undermine the stability of the financial system. The SBP launched the survey to augment the assessment of key risks and vulnerabilities that are regularly reported 4

January 16, 2018 12:00 AM NBP, Bank of China sign agreement

KARACHI: The National Bank of Pakistan (NBP) has signed a memorandum of understanding (MoU) with the Bank of China Pakistan (BoCP) to promote banking services in the country, a statement said on Monday. The MoU will focus on developing niches and creating synergies between the two institutions. It will strengthen the ironclad brotherhood between the two nations 4

January 9, 2018 12:00 AM NBP, ITP sign agreement

ISLAMABAD: The National Bank of Pakistan (NBP) and Islamabad Traffic Police (ITP) on Monday signed an agreement for e-Challan and payments system in Islamabad Capital precinct. The signing ceremony was held here at office of Inspector General of Police and this partnership will enable the issuance of paperless challan to the drivers through a hand held smart 3

January 6, 2018 12:00 AM JazzCash, BAFL launch ‘Pay Anyone’

KARACHI: JazzCash has launched a new service that allows customers to transfer funds to individuals having valid computerised national identity cards (CNIC) through Bank Alfalah’s (BAFL) internet banking system, a statement said on Friday. “The ‘Pay Anyone’ service will enable people across the country to collect funds, sent to them through this service 2

January 5, 2018 1:43 AM Qatar allows full ownership for foreign investors

DOHA: Qatar has approved legislation allowing 100 per cent ownership for foreign investors in most sectors of the economy in a bid to boost non-energy revenues, the government said on Thursday. The move comes at a time of political crisis in the Gulf, with Qatar under an economic and diplomatic boycott by neighbouring countries for the past seven months 1

January 2, 2018 2:00 AM SBP move likely to cause dollar shortage in open market

KARACHI: The State Bank of Pakistan (SBP) has decided to cut the import requirement of cash dollars to 35 per cent against the export of foreign currencies, creating fears about a shortage of the greenback in the open market. The central bank issued a circular on Monday that asked exchange companies to bring only 35pc cash dollars as opposed to 100pc against 3

December 30, 2017 12:00 AM Stocks end year with gains; cement, steel surge

Stocks edged higher on Friday, shrugging off weaknesses in economy, as rally in cement and steel buoyed expectations for a better year for the growth in 2018, dealer said. Maaz Mulla at JS Global Capital said the market maintained its upward trend as flows in cement, steel, and oil kept investor's sentiment intact. “On the news front, State Bank of Pakistan 8

December 30, 2017 12:00 AM Iran, Pakistan to sign MoU to enhance parliamentary cooperation

ISLAMABAD: The head of Iran-Pakistan friendship group and member of Iranian Parliament said Tehran and Islamabad are determined to sign a Memorandum of Understanding (MoU) to enhance parliamentary cooperation. In an interview with IRNA, Ahmad Amirabadi Farahani said Speaker of Pakistan’s National Assembly of Pakistan Sardar Ayaz Sadiq is scheduled to travel 3

December 28, 2017 12:00 AM PMEX Facilitates Pakistan’s First Electronic Murabaha Transaction

Karachi: Pakistan Mercantile Exchange Limited (PMEX), country’s only multi-commodity futures exchange, has achieved yet another breakthrough by facilitating the country’s first electronic Murabaha transaction, which in essence will pave the way for an Islamic Money Market. Meezan Bank was the Shariah Technical Services Provider for development of this Shariah-compliant