Halal Tamweel

MANAMA: The 7th annual World Islamic Funds and Financial Markets Conference 2011 (WIFFMC'11) will be held in Bahrain on September 26 and 27, 2011.

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.

KARACHI: The Asian Development Bank (ADB) has presented a modest economic growth forecast of 3.7 percent for Pakistan for FY12, lower than government's target of 4.5 percent.

KARACHI: Refinery sales witnessed higher output along with 14 percent growth in the first two months of fiscal year 2011-12 (2MFY11-12). High Speed Diesel (HSD) and petrol contributed as their growth outshined by 91 percent during the period under review.

KARACHI: The sales of Oil & Marketing Companies (OMCs) dropped by 6 percent during the month of August to 1.740 million tons, according to the latest data released by Oil Companies Advisory Committee (OCAC).

KARACHI: First Imrooz Modaraba 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.

KARACHI: Pakistan cotton market observed brisk trading on Wednesday amid firm prices. The Karachi Cotton Association (KCA) official spot rate remained intact at Rs 7,400 on Wednesday while physical prices were recorded at Rs 7,600, dealers said.

Karachi: All Pakistan Textile Mills Association (APTMA) has embraced the proposed Liquefied Natural Gas (LNG) Policy 2011 and appreciated the efforts of federal government for taking interest in bringing LNG into the system, said by APTMA Chairman Gohar Ejaz.

MUSCAT/DUBAI: For religious reasons, Omani clerk Ali al-Sulaimi does not believe in paying interest on borrowed money, but he badly wants to build a house for his family.

LONDON: Russian republic Tatarstan's ambition to develop a Sharia-compliant market received a boost this week when the Kazan-based AK Bars Bank became the first Tatar credit to secure a murabaha loan.

HONG KONG: Asian stocks bounced on Thursday after tentative steps by euro zone policymakers to tackle a crippling debt crisis, but investors remained wary that obstacles the bloc's leaders face could weigh on the euro and Asian currencies in the medium term.

KARACHI: Gold rates in Pakistan fell on Wednesday in major bullion markets of the cities with a decrease in international market.

KARACHI: The market is expected to remain range bound as the market is looking for positive triggers and concerns regarding the colossal damage to crops and infrastructure with diminished ability to seek foreign assistance poses questions about macroeconomic stability in months to come.

International Commodities Rates

RIYADH: Saudi Aramco and France's Total are set to issue up to 3.75 billion Saudi riyals ($1 bln) in Islamic bonds, or sukuk, with final pricing expected by the end of the month, lead arrangers said on Tuesday.

KARACHI: Allied Rental Modaraba (ARM) has declared a final cash dividend of Rs 2.30 per certificate, equivalent to 23 percent, mentioned in a notice issued by the company to Karachi Stock exchange on Monday.

KARACHI: Pakistan Petroleum Limited (PPL) confirmed here on Wednesday that it is interested to make an entry into an Exploration and Production business activities in Iran, according to the notice sent to the Karachi Stock Exchange (KSE).

KARACHI: Pakistan Cotton Ginners Association (PCGA) has elected new chairman Amanullah Qureshi and new vice chairman of North Zone would be Haji Mukhtar Ahmed.

KARACHI: First Habib Modaraba (FHM) Board of Directors meeting will be held on Tuesday, September 20th, 2011 to consider among other things the financial statements for the year ended 30 June 2011, in a notice issued to Karachi Stock Exchange on Wednesday.

KUALA LUMPUR: Malaysia has sold 4 billion ringgit ($1.31 billion) in Islamic government bonds maturing in 2016 at an average yield of 3.375 percent, the central bank said on Wednesday.