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KARACHI: Traders participated in active trading on Monday over the news that State Bank of Pakistan has reduced policy rate by 150 basis points to 12 percent.

LAHORE: The automobile industry of Pakistan has showed serious concerns over the government recent stance to invite new players in the domestic automobile industry to reap the new announced benefits.

KARACHI: Pakistan's broad money (M2) grew by 15.89 percent year on year (YoY) to Rs 917.961 billion during FY11 as against 12.46 percent YoY to Rs 640.015 billion in FY10, State Bank of Pakistan (SBP) provisional data revealed.

KARACHI: The worsening relationship of Pakistan with United States has dampened the sentiments of local and foreign investors badly as the Halal Stock Index tumbled by 2.7 percent or 571.52 points in early trade on Monday.

KARACHI: The State Bank of Pakistan (SBP) intervention in the currency markets to stabilize rupee value would work well for the market on Friday.

KARACHI: Foreign Direct Investment (FDI) continued its declining trend and went down to $21 million in the month of August against $91 million in the previous month, according to the latest data issued by State Bank of Pakistan (SBP).

KARACHI: Microfinance industry in Pakistan is a growing industry and it is currently serving approximately two million customers said Syed Samar Hasnain, Director, Agricultural Credit & Microfinance Department, State Bank of Pakistan.

KARACHI: Syed Samar Hasnain, Director, Agricultural Credit & Microfinance Department, State Bank of Pakistan said that the paid up capital requirement set by the central bank for the microfinance banks is high. But it is necessary at the same time to ensure a sound financial system.

KARACHI: The recent decision of State Bank of Pakisan (SBP) to bring flexibility in monetary stance could spur economic growth slightly but it is likely that inflation could again pick up its momentum due to expected increase in liquidity position, according to the Arif Habib research note.

KARACHI: Government is likely to announce the name of State Banks Governor today as the deadline for appointing a governor of central bank has been expired on Monday.

KARACHI: The foreign investment plunged enormously by 49 per cent to $236 million in the first quarter (Jul-Sep) of the current fiscal 2012, according to the latest statistics released by State Bank of Pakistan (SBP).

KARACHI: Pakistan Petroleum Limited (PPL) has appointed Mr. Asim Murtaza Khan as new chief executive /Managing Director, informed a notice issued to the Karachi Stock Exchange on Wednesday.

KARACHI: Mr. Syed Ali Hamdani has been appointed as the new Chief Executive Officer of the Siemens Pakistan.

NEW YORK: Gold prices slumped more than $100 an ounce on Friday, the biggest fall on record in dollar terms, as traders sold to cover losses, while global stocks edged up on expectations the European Central Bank will take new measures to contain the euro zone debt crisis.

KARACHI: Following footprints of New York (NY) cotton in the international market Pakistan cotton prices also moved upwards on Thursday.

KARACHI: Cotton prices moved up on Tuesday on the back of strong demand by the mills and spinners amid active trading. Karachi Cotton Association (KCA) official spot rate continued upward march as it went up by Rs 150 to Rs 6,450, dealers said. Market also followed New York cotton exchange trend as prices kept on a move in international market.

DUBAI: Yields on Dubai's non-rated 6.396 per cent sukuk maturing in November 2014 surged 84 basis points last month to 6 per cent in Dubai, poised for the second-biggest monthly jump since state-owned holding company Dubai World sought to delay payments on $25 billion of debt in November 2009.

SINGAPORE: Oil fell on Thursday as rising fuel stocks and falling demand in top consumer the United States reinforced fears that crumbling economic growth and Europe's debt crisis would dent energy use, while a stronger dollar pressured prices.

JEDDAH: The International Islamic Trade Finance Corporation (ITFC), an affiliate of the IDB Group, is making intense efforts to increase trade among members of the Organization of Islamic Cooperation (OIC) to 20 percent of their total trade by 2015. It has given $13 billion since 2008 to finance trade.

There are 5 full-fledged Islamic banks operating in Pakistan and 15 conventional banks with Islamic banking branches. The growth in Islamic finance industry has been consistently in double digits. The share of the industry in the banking system has risen to over 7 percent from just 0.5 percent in 2002.