Tag: Market

HONG KONG - The world's highest hotel opened its doors in Hong Kong on Tuesday, housed in the city's tallest skyscraper and offering unrivalled panoramic views of the world famous Victoria Harbour.
Towering some 490 metres (1,600 feet) above the bustling, chaotic streets of the Southern Chinese city, the Ritz-Carlton Hotel is making a grand comeback after temporarily closing in 2008.
Visitors peered out of the floor-to-ceiling windows of the 118th floor of the International

KARACHI - While Pakistani exports to Russia during the first six month of this financial year have picked up by almost 37.79 percent compared to the corresponding period last year Pakistan's overall export to the country could not cross $100 million, amounting only 0.06 percent share of the lucrative Russian market valued at around $196.8 billion. Despite exports of $77 million made during July to December 2010 as compared to $55.88 million during the corresponding period last year,

KARACHI - Dozens of shops burned to ashes as the fire broke out in Empress Market, police said.
The conflagration broke out overnight, it gulped down several shops with flames billowing out in tall plumes, gutting goods housed at the dry fruits shops worth million of rupees.
The blaze was so intense that fire tenders from across the city had to be called in with police and the Rangers in large number cordoned the entire affected site.
Fire brigade crew said it was dry

KARACHI - A black market for petrol and diesel is thriving in Saudabad - a locality of Malir Town with few pumps and many customers - where a litre of petrol is being sold at 82 rupees as opposed to the Oil Gas Regulatory Authority (OGRA)-defined rate of Rs 76.77 rupees per litre, Pakistan Today has learnt.
Four shops were discovered by Pakistan Today that are involved in selling fuel in black: one is situated near the RCD Ground (adjacent to Hafiz Sweets), another located at

KARACHI - As many as 1,044 graduates of Batch 2007 of the Sir Syed University of Engineering and Technology (SSUET) received their four-year BS degrees at the Convocation-2011 held on Saturday.
Of the total, 414 were conferred degrees in Electronic Engineering, 181 in Computer Engineering, 82 in Bio-Medical Engineering, 108 in Civil Engineering and 47 in Computer Science. The remaining belonged to leftover graduates of Batch 2006 and others.
Addressing the convocation, SSUET

LAHORE - Two robbers shot dead a police constable's wife and critically injured the policeman for putting up resistance when the couple was returning home after attending a wedding in the Ghalib Market Police Station precincts. Police registered a case against unidentified robbers on Mujahid Squad Constable Bilal's complaint but no arrests have been made until filing of this report. The deceased was identified as Arooj, 18.
According to sources, Bilal and Arooj got married

KARACHI - Several traders of the Boulton Market, whose shops were set ablaze soon after the Ashura blast in 2009, have become millionaires as they have received dual compensation, sources have informed Pakistan Today.
On the one hand, the government has provided them with Rs 1.50 billion as compensation to the affectees of the Boulton Market; on the other hand, the United States Consulate has also distributed cash among the victims.
The US Consulate received a list of the

KARACHI - Pakistan has failed to make inroads in the Australian market for Pakistani mangoes despite announcement, by the foreign country, regarding a change in its' regulatory policy to accommodate Pakistani import, Pakistan Today has learnt. The country, in the past, has wasted several opportunities to stamp it's authority in many lucrative international markets. Pakistan had to arrange a visit of an inspection team - who was required to verify data provided by Islamabad, in

KARACHI - Peeved by extortionists' harassment, the traders of Paposh Nagar's Sarafa Bazaar (gold market) took to the streets on Wednesday to demand justice and protest the law enforcement agencies' pathetic performance. The traders blocked the roads leading to the Board Office and Golimar Chowrangi. "Criminals have been threatening calls to us for the last two weeks and demanding huge sums of money," a trader told Pakistan Today requesting anonymity. "We have repeatedly informed the

KARACHI - The oil industry structure seems to have shifted in favour of small players, as PSO's overall market share stands at 65 percent in February, 2011, down from 71 percent in the same period last year. This decline was impelled by Furance Oil (FO), as PSO's market share in FO shrunk to 78 percent. Adjusted for FO - PSO's market share dwindled by a meager one percent to 54 percent, while comparably, Attock Petroleum Limited (APL) and Shell Pakistan gained market share in the

KARACHI - The State Bank of Pakistan (SBP), on Monday, injected Rs 11 billion into the money market which, analysts believe, is short of liquidity primarily due to rupee blockade. The rupee is stuck in the face of non-performing loans (NPLs) and excessive government borrowings from central and scheduled banks, they opined. The State Bank, in its reverse repo open market operation in the Government of Pakistan Market Treasury Bills and Pakistan Investment Bonds, injected some Rs 10.95

KARACHI - The Securities and Exchange Commission of Pakistan (SECP) would develop a "bond pricing agency" to revitalise the country's debt market that, the apex regulator believes, is currently not 'vibrant'. Further, the Karachi Stock Exchange (KSE) has called upon the federal government to accelerate the pace of issuing the amended computation rules for Capital Gains Tax (CGT) before functionality of the leveraged products at the country's bourses.
"Our focus is now the debt

KARACHI - Pakistan was among top losers for the week at its market cap slashed down by seven percent. Compared to a decrease in total market cap, decline in foreign selling did not rise to significant levels. The Pakistani equity market cap was down by $2.8 billion, whereas foreign selling's contribution was limited to a minuscule 0.19 percent.
This was shown in the assessment of Invest capital to gauge the impact of Middle Eastern fiasco, which started from Tunisia and then

COLOMBO - Sri Lankan police have arrested a volunteer for selling tickets at a much inflated price for Saturday's match between the co-host nation and Pakistan, officials said on Thursday. "We have arrested a volunteer for selling tickets outside the ticketing counter and are doing the investigations," police spokesman Prishantha Jayakody said on Thursday.
Police sources said the seller had obtained the tickets by recruiting volunteers to stay in long queues and buy the

ISLAMABAD - The federal government has accorded its approval for promulgation of the Securities (Leveraged Markets and Pledging) Rules, 2011, which have been notified by the Securities and Exchange Commission of Pakistan (SECP) in the official gazette.
While realising the significance of liquidity in trading for a vibrant stock market, last year the SECP had drafted these rules after detailed consultations with the relevant stakeholders, including the State Bank of Pakistan,

ISLAMABAD - The sub committee of the Cabinet Committee on Privatisation will be briefed on issuing equity-linked instruments in Public Sector Entities (PSEs) today. The Minister for Privatisation Syed Naveed Qamar chaired a meeting of investment banks and business groups to review the capital market transactions on Thursday, an official statement indicated.
The minister said that they were at a reasonable point to start focusing on domestic and international market transactions

LAHORE - Nine days after the Shah Alam market fire, smoke still rises from the rubble of the collapsed buildings, Pakistan Today has learnt. Rescue workers are yet to have extinguished the fire. Rescue 1122 officials along with other City District Government agencies have claimed to have removed the debris but are still unable to determine the fire's cause.
Rescue 1122's response is facing question marks as the DG Rescue 1122 had claimed the day after the fire that they had