Halal Tamweel

KARACHI: KASB Islamic Income Opportunity Fund (KIIOF) (formerly KASB Islamic Income Fund) has reported net loss of Rs 18.413 million year on year (YoY) as compared to Rs 5.021 million net profits in the previous year.

Poverty is one of the fundamental problems in developing countries. Poverty rate is quite high in all Muslim countries. The main causes of poverty are low household income, low means of production, high difference in income distribution, lack of skills, and inadequate access to employment opportunities.

Asset backed securitization is compatible with Islamic financial concepts as the financing products in Islamic financial system are backed by real assets.

Mudarabah is one of the prime modes of Islamic Financial System. Mudarabah is a kind of partnership, wherein one party provides finance to the other party for the purpose of carrying on business.

DUBAI: Trade creditors holding the recently issued first tranche of troubled developer Nakheel's five-year Islamic bonds, or sukuk, are inviting bids for the paper, but buyers are so far limited, traders said.

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: Pak Datacom Limited (PAKD) has declared the "Closed Period" from September 14, 2011 to September 21, 2011 (both days inclusive), in a notice issued to Karachi Stock Exchange on Thursday.

KUALA LUMPUR: Malaysia's KLCC Property Holdings Bhd said on Thursday that 2 of its units will issue an 880 million ringgit ($285.9 million) Islamic medium-term notes programme.

KARACHI: Unilever Pakistan Ltd has declared the "Closed Period" from September 22, 2011 to October 26, 2011 in a notice issued to Karachi Stock Exchange on Friday.

KARACHI: Ginneries participation in active trading on Thursday supported Pakistan cotton rates to remain firm. Some analysts expect that panic trading by ginneries can pushed cotton prices down.

KARACHI: Gold rates in Pakistan dropped on Thursday in major bullion markets of the country as the metal continued its downward trend in the international markets.

KARACHI: Pakistan is all set to host the first World Islamic Finance Summit 2011 to be held on September 21 and 22. The organizers unveiled the description of the prestigious summit on Thursday.

KARACHI: The curtailment 65 paisas per unit have been approved by National Electric Power Regulation Authority (NEPRA) on Thursday for the consumers in Karachi on Thursday, local media reported.

KARACHI: The market is expected to remain range-bound and focused in some active blue chip stocks as the market is looking for positive triggers and foreign institutional support.

KARACHI: Pakistan's foreign exchange reserves fell to $17.79billion in the week ending Sept. 10, from $18.06 billion in the previous week, the central bank said on Thursday.

KARACHI: Pakistan's foreign exchange reserves fell to $17.79billion in the week ending Sept. 10, from $18.06 billion in the previous week, the central bank said on Thursday.

SINGAPORE/HONG KONG: Asian stocks jumped on Friday and the euro steadied, after rising sharply the previous day, as investors hoped for a big policy move from European finance ministers to combat the debt crisis.

SINGAPORE/HONG KONG: Asian stocks jumped on Friday and the euro steadied, after rising sharply the previous day, as investors hoped for a big policy move from European finance ministers to combat the debt crisis.

SINGAPORE: Oil was headed for a weekly gain on Friday after central banks launched coordinated action to boost European bank funding, easing concern about falling oil demand from industrialised consumers.

SINGAPORE: Gold slipped more than 1 percent on Friday, heading for its biggest weekly drop since March 2009, as stock markets gained and the euro rose after major central banks around the world strived to fight the debt crisis in Europe.

International Commodities Rates

SINGAPORE: Gold slipped more than half a percent on Thursday after equities rose and the euro ticked up on optimism over tentative steps by European policy makers to resolve and limit the region's debt crisis.