Halal Tamweel

KARACHI: Karachi Electric Supply Company Limited (KESC) loss after taxation decreased by 35.84 percent year on year (YoY) to Rs 9.393 billion as compared to Rs 14.641 billion in the previous year. KESC losses recovered during financial year 2011 (FY11) in volumes despite reduced profit margins.

TOKYO: Asian shares rose on Thursday, as optimism over Europe's efforts to aid the euro zone's financial sector and U.S. data suggesting the economy could avoid recession spurred short-covering and value-hunting.

SINGAPORE: Brent crude held above $102 after surging in the previous session as pessimism about weaker demand was outweighed by a surprise drawdown of U.S. inventories and concerns that Libya's largest oilfield could be damaged.

KARACHI: Dubai Islamic Bank Pakistan Limited (DIBPL) has announced to provide online solution for foreign remittances to its potential customers, according to the press release issued by full fledge Islamic bank on Wednesday.

KARACHI: Active trading witnessed at Pakistan cotton market as both the mills and spinners participated in fresh buying on Wednesday.

LAHORE: Pakistan Agri Forum (PAF) has demanded that the price of cotton should be fixed at Rs 3,500 per maund keeping in view international market prices to facilitate cotton growers.

International Commodities Rates

KARACHI: Foreign selling has impacted investors' confidence. Trade is concentrated in some stocks and they are now trading at inflated levels. Market is expected to remain range bound today and will be focusing on monetary policy ease in next couple of days.

KARACHI: Pakistan's inflation slowed for a second straight month in September 2011, giving policy makers more scope to cut key benchmark rate to support ailing industries.

Shayne Nelson, Regional CEO, MENA, Standard Chartered talks about the future of Islamic Banking sector after the great financial crisis.

As per Islam, this world is a place for test and this test requires some people to be privileged and some to be deprived so that people can meet their needs interdependently.

KARACHI: Pakistan's key Islamic equity funds performance remained low during the month of August, 2011 as the cumulative net assets of the four major Islamic equity funds fell by 4.17 percent Month-on-Month (MoM) to Rs 5,174.501 million as at August 31, 2011 from Rs 5,399.576 million as at July, 2011.

DUBAI: Barclays Capital will focus on growing its liquidity management and risk management businesses as the Islamic bond market continues to struggle because of global economic worries, its head of Islamic products said.

DUBAI: Growth of the global Islamic asset management industry will likely halt or reverse this year as the industry struggles with poor sentiment in financial markets and lacklustre interest among Islamic institutional investors, said Jahangir Aka, senior executive officer at asset management firm SEI Investments.

ISLAMABAD: Owing to timely monsoon rains, bumper kinnow crop is expected during the current year (2011-12), raising the chances to surpass the exports figures of previous year.

ISLAMABAD: The Federal Board of Revenue (FBR) has realized a total provisional collection of Rs.373.819 billion during the first quarter of July-September 2011-12 showing an overall increase of 27.4 percent as compared to same period of last fiscal year.

SINGAPORE: U.S. gold futures gained 1 percent to above $1,630 an ounce on Wednesday, driven by a return to bargain hunting after prices dropped the previous day, while purchases from jewellers helped the precious metal shrug off a volatile euro.

ISLAMABAD: The negotiations between the government and commercial banks remained successful on Tuesday to resolve the mounting circular debt issue of Rs 400 billion in the power sector of the country.

ISLAMABAD: Rising circular debt issues and ongoing power riots have brought Prime Minister Syed Yousuf Raza Gilani into action as he asked the inter-ministerial committee on energy to submit report in the special Cabinet meeting on October 12.

KARACHI: Increased Phutti arrivals and panic selling by the ginners pushed Pakistan cotton prices further down in the market on Tuesday.