Halal Tamweel

Investment in stocks is permissible in Islam. However, forwards, futures, options, swaps, short selling etc in stock trade cannot be used.

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).

ISLAMABAD: Foundation laying stone of Diamir Bhasha dam will be held on Tuesday (today). President Asif Ali Zardari will be the chief guest of groundbreaking ceremony.

UAE: Dubai Islamic Bank (DIB) announced on Monday the launch of the Al Islami Emerging Cappuccino Certificate, a four-year Islamic certificate backed by Sharia-compliant assets.

KARACHI: Mills continuous buying at Pakistan cotton market push prices up on Monday. The Karachi Cotton Association (KCA) official spot rate increased by Rs 50 traded at Rs 6,300 while physical prices of fine lint were above Rs 6,600 and Rs 6,350 per maund, dealers said.

KARACHI: Gold rates remained steady on Monday in major bullion markets of the cities. Gold prices in Karachi recorded at Rs. 55,500 per tola (11.66 grams). The price of 10 grams gold was recorded at the level of Rs. 47,571.

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.

LAHORE: Lahore Chamber of Commerce and Industry demanded, Federal Board of Revenue to impose 25 percent regulatory duty on copper export.

KARACHI: The Halal stock KMI 30 share index expected to be range-bound as investors seemed to be cautious on the back of mixed triggers.

KARACHI: Tri- Pack Films Limited (TRIPF) witnessed outstanding performance during the third quarter of the financial year 2011 (3QFY11) as its profits surged by 64.84 percent year on year (YoY) to Rs 200.040 million as compared to Rs 121.354 million in the same period previous year, mentioned in a notice issued by the company to Karachi Stock exchange.

KARACHI: Kohinoor Energy Limited (KOHE) showed outstanding performance during the first quarter of financial year 2011 (1QFY11) as its profits surged by 137.26 percent year on year (YoY) to Rs 180.459 million as compared to Rs 76.061 million in the same period previous year, mentioned in a notice issued by the company to Karachi Stock exchange.

KARACHI: The Board of Directors of Attock Petroleum Limited (APL) met on October 17 to review the company’s financial and operating performance for the quarter ended Sep 30, 2011.

KARACHI: The board of directors of Attock Refinery Limited (ATRL) has approved the financial results of the company for the first quarter ended Sep 30, 2011 on Monday, according to the notice issued by company to the Karachi Stock Exchange (KSE).

KARACHI: Pak Suzuki Motor Company (PSMC) Board of Directors meeting will be held on Wednesday, October 26, 2011 to consider among other things the unaudited accounts for the 3rd quarter ended on September 30, 2011.

KARACHI: Brisk trading witnessed at Karachi cotton market on Saturday while spot rate remained unchanged. The Karachi Cotton Association (KCA) official spot rate remained intact at Rs 6,250 while physical prices were above Rs 6,600 and Rs 6,700 per maund, dealers said.

KUALA LUMPUR: Malaysia, via the International Centre for Education in Islamic Finance (INCEIF), is supplying world class talent for the fast-growing Islamic finance, says chairman and chancellor, Tan Sri Dr Zeti Akhtar Aziz.

KARACHI: The Sensitive Price Indicator (SPI) has registered an increase of 0.24 percent for the week ended on October 13 over the previous week.

KARACHI: Al Baraka Bank Pakistan Limited (ABPL) has announced the launch of Al Baraka Business Plus Account. This is a new addition to its existing comprehensive product portfolio set on the basic principles of Mudaraba, tailored to suit the business needs.

KARACHI: Oil and Gas Development Company Ltd (OGDCL) will resume its operation in the rain-affected areas with full pace as soon as rainwater is receded in exploration blocks.

KARACHI: The Halal stocks KMI-30 share index went up by 652.60 points or 3 percent during the last week. KMI-30 Index closed at the level of 22,421.46 points as compared to the last week's closing level of 21,768.86 points.