Halal Tamweel

DUBAI: Islamic mortgage lender Tamweel, whose shares resumed trading in May, will issue a $300-$500 million sukuk, or Islamic bond, in the fourth quarter, the acting chief executive of the Dubai-based company said on Tuesday.

KARACHI: Tri-Pack Films Ltd (TRIPF) has declared the "Closed Period" from October 10, 2011 to October 17, 2011, in a notice issued to Karachi Stock Exchange on Tuesday.

KARACHI: The Board of Directors of Maple Leaf Cement Limited (MLCF) met on Tuesday to review the company's financial and operating performance for the year ended June 30, 2011.

ISLAMABAD: The non-bank financial institutions (NBFI) and Modaraba Association of Pakistan (MAP) Tuesday stressed the need for comprehensive system of Shariah compliance to keep intact the confidence of the stakeholders in the Islamic financial system.

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: Current rates of cotton attracted millers to indulge in active buying despite trading remained range bound at Pakistan cotton market on Tuesday.

KARACHI: Gold rates in Pakistan shoot up again on Tuesday in major bullion markets of the country following recovery in international gold market.

SINGAPORE: Asian stocks edged higher and a rally in the euro stalled on Wednesday, as investors looked for more signs that European leaders were tackling a debt crisis that threatens the financial system before committing bolder market bets.

KARACHI: Positive triggers and foreign institutional support is needed in the market amidst diplomatic tensions and political uncertainty. Since the market is following global trend recently, the movements in global markets will also be an important determinant shaping the course of the market. Market is expected to recover somewhat today after central bank's intervention to support the rupee.

KARACHI: Pakistani rupee gained 50 paisas against US dollar in the open market which closed at Rs 89.50 on Tuesday.

International Commodities Rates

ISLAMABAD: The export of food commodities from the country during the first two months of current financial year registered an increase of 33.53 percent as against the export of same period last year.

WASHINGTON: Finance Minister Abdul Hafeez Shaikh called for a fair opportunity for Pakistan's exports to international markets as he argued that a Pakistan-U.S. relationship centering on economic interests would endure, in contrast with fickle nature of past transactional ties.

SINGAPORE: European stock index futures rose sharply on Tuesday, after Asian shares rebounded from multi-month lows and as the euro clung to gains on hopes that euro zone officials will act to corral Greece's debt woes and prevent a financial meltdown.

SINGAPORE: Oil and gold led gains in commodities in Asia on Tuesday as investors bet Europe's plan to shore up banks would reduce the risks of a widespread banking crisis in the euro zone, prompting investors to reduce holdings of the U.S. dollar.

KARACHI: Packages Limited (PKGS) has declared the "Closed Period" from October 11, 2011 to October 18, 2011, in a notice issued to Karachi Stock Exchange on Tuesday.

KARACHI: Bank Islami has announced the financial results for the half year ended on Jun 30, 2011 and showed an immense recovery as compared to last year, according to the notice sent to Karachi Stock Exchange (KSE) on Tuesday.

DUBAI: Assets held by global Islamic funds jumped 7.6 percent in 2010 to $58 billion, reflecting new money inflows and strength in fixed income, commodities and other alternative investments, Ernst & Young said on Monday.

LAHORE: Sui Northern Gas Pipelines Limited (SNGPL) criticized by All Pakistan Textile Mills Association (APTMA) over gas curtailment to the textile industry despite government of Pakistan assurance to supply gas for five days a week.

KARACHI: The month of July witnessed nominal growth in Large Scale manufacturing growth as it recorded growth of mere 0.68 percent to place the Quantum Index Numbers of the LSM Industries at 207.04 points as compared to 205.64 points in the corresponding period of the previous year, according to the latest statistics released by Federal Board of Statistics (FBS)