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Home / Author Archives: Shazad Ahmed

Author Archives: Shazad Ahmed

LSE moot on finance and industrial uplift: Share in total industry credit saw decline in 9 years

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LAHORE: South Asian Studies University of Oxford Director Dr Mathew MacCartney chaired second session of Lahore School of Economic (LSE) conference ‘Regional Manufacturing Hub-Prospects and Challenges’ opened on finance and industrial development. A paper in session was presented by Imran Ahmad additional Director of Infrastructure Housing and Small and Medium Enterprises (SMEs) Finance Development at State Bank of Pakistan. It ... Read More »

LSE moot on finance and industrial uplift: Share in total industry credit saw decline in 9 years

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LAHORE: South Asian Studies University of Oxford Director Dr Mathew MacCartney chaired second session of Lahore School of Economic (LSE) conference ‘Regional Manufacturing Hub-Prospects and Challenges’ opened on finance and industrial development. A paper in session was presented by Imran Ahmad additional Director of Infrastructure Housing and Small and Medium Enterprises (SMEs) Finance Development at State Bank of Pakistan. It ... Read More »

$615m FDI not 1pc of GDP; 196 foreign investor in Pakistan; recent years saw no new one: OICCI

invest

LAHORE: Because of non-conducive business environment, non-implementation of government policies and security concerns, not a single new foreign investor had entered the Pakistani market in the past few years, disclosed the Overseas Investors Chamber of Commerce and Industry (OICCI). Though business incentives in Pakistan were satisfactory but foreign investors were shying away and only existing investors/companies were expanding their operations, ... Read More »

KSE-100 Index reverses initial losses, reaches 31285.46 points from 31199

KARACHI: The Karachi Stock Exchange witnessed fluctuation as benchmark KSE-100 Index reversed some initial losses but still faced 25.27-point loss at 31285.46 in mid day trade on Wednesday  as compared to 31199.37 of early trade of the same day. The Index in the mid day gained 25.27 points or 0.08% while the High and Low were 31406.41 and 31189.33 respectively ... Read More »

KSE-100 Index rises by 234.11 points to 32034.37 over SBP rate cut and SECP vigilance

KARACHI: After the SBP interest rate cut and amidst vigilant monitoring of the stock market by Securities and Exchange Commission of Pakistan (SECP) so as to ensure risk free atmosphere, the benchmark KSE-100 Index gained 234.11 points or 0.74 percent to reach 32034.37 points in the early trade on Tuesday. The High and Low were 32070.98 and 31800.26 respectively while ... Read More »

KSE-100 Index jumps by 349 points to 31,800.26 amidst foreign selling, SBP rate expectations

KARACHI: The benchmark KSE-100 Index advanced by 349 points to reach 31,800.26 versus 31,451.62 of the last session amidst the outflow of foreign portfolio investment and expectation that the State Bank of Pakistan to slash key rate for next couple of months at least by 50-100 basis points. The foreign selling was a major drag on the benchmark index. The ... Read More »

KSE-100 Index jumps by 348.15 points to 31799.77 on SBP’s remittances, CA surplus report

KARACHI: Following the SBP report that the current account for February 2015 showed a surplus of $877 million, and that remittances have been increasing with an average of over 14 percent, the KSE-100 Index jumped by 348.15 points or 1.11 percent to reach 31799.77 in the late morning trade on Friday as compared to 31,524.98 of last session. The High ... Read More »

African Water Facility providing €1.2m grant for school sanitation facilities in Eastern Cape Province

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Abidjan: The African Water Facility is providing a grant of €1.2-million to help improve school sanitation facilities in Eastern Cape Province, South Africa, it announced. Over 100,000 students will directly benefit from this project, which will also create business opportunities for entrepreneurs as well as employment for local youth. The project will support local social franchise businesses to provide affordable ... Read More »

KSE-100 Index remains almost flat at 31524.41 points over uncertainty

KARACHI: Extending over 817 points loss of the last session, the benchmark KSE-100 Index remained almost flat by losing only 0.57 point to reach 31524.41 points in the late-mid day trade as uncertainty prevailed in the market on Thursday. However, the High and Low were 31607.81 and 31401.01 respectively while the total volume traded in the market was 46,395,580. The ... Read More »

USAID plan aims to improve productivity of 20,000 farmers, livestock holders

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ISLAMABAD: The US Agency for International Development (USAID) funded an initiative to develop the agriculture sector and private businesses in Federally Administered Tribal Areas (Fata). The initiative is implemented by Creative Associates International in collaboration with the Pakistan government. USAID FATA ESP will create jobs, and improve economic opportunities in Bajaur, Mohmand and South Waziristan agencies. The plan will introduce ... Read More »

KSE-100 Index cuts 817 points to 31524.98 over lawlessness, political development

KARACHI: The benchmark KSE-100 plunged over 817 points to close at 31524.98 levels. During the session, the market movement took sharp swings as at one stage the index lost over 1100 points but later on recovered yet losing over 817 points which is biggest blow in the recent months. The uncertainty was caused by political developments as well as gloomy ... Read More »

Banks disburse Rs288.7b agri loans, 57.8pc higher than Rs 500b annual target

loans

KARACHI: During July to February of fiscal year 2015), the banks disbursed Rs 288.7 billion agricultural credit which is 57.8% of the overall annual target of Rs 500 billion and 32.3% higher than disbursement of Rs 218.3 billion made during the corresponding period of 2014. The outstanding portfolio of agri loans has increased by Rs 34.2 billion i.e. from Rs ... Read More »

Cut in Dec 2014, gas supply partially restored to industry after 3 months

RUSIA GAS EXPORTS

LAHORE: After almost three-month cut-off, the Sui Northern Gas Pipelines Limited (SNGPL) will partially restore gas supply to the general industry. Meanwhile, textile industry is already getting supply for six hours a day. All industrial sectors except textile remained without gas supply for almost three months of winter, including steel, plastic, cement, pharma, paper, ceramic and electrical goods, industry sources ... Read More »

KSE-100 Index pares initial losses, falls to 31852.53 by 489.73 or 1.51pc on foreign selling

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KARACHI: Paring the initial loss of 71.73 points, KSE-100 Index plummeted to 31852.53 points from early-day level of 32270.53 points by falling 489.73 points or 1.51 percent till mid day trade on Wednesday. Due to continuous foreign selling, the Karachi Stock Exchange witnessed bearish activities as the index had lost further 71.73 points or 0.22 percent to reach 32270.53 in ... Read More »

Indian banks’ NPAs stand at Rs 3,00,611 crore as on Dec 2014

return-on-assets

New Delhi: The Indian banks’ Non Performing Assets stood at Rs 3,00,611 crore as on December 2014, government told Lok Sabha Friday, attributing the increase of NPAs to sluggishness in growth. A sum of Rs 38,209, of the total NPAs, Rs 2,62,402 crore belonged to nationalised banks, belonged to private sector banks, Minister of State for Finance Jayant Sinha said ... Read More »

India’s forex reserves decrease by USD 286.3m to USD 337.793b

foreign-exchange-reserves

Mumbai: India’s foreign exchange reserves marginally decreased by USD 286.3 million to USD 337.793 billion in the week to March 6 despite a rise in foreign currency assets. The reserves in the previous week touched a life-time high of USD 338.079 billion, an increase of USD 3.886 billion over the last week. The FCAs, a major constituent of overall reserves, ... Read More »

RBI agrees USD 1.5 billion currency swap agreement with Sri Lankan central bank

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Colombo: With the Sri Lankan central bank, Reserve Bank of India agreed for a USD 1.5 billion currency swap agreement to help the island nation keep its currency stable, Prime Minister Narendra Modi said on Friday. The deal was announced after a meeting between Modi and Sri Lankan President Maithripala Sirisena here. Modi reached here early this morning on the ... Read More »

Bank of Ireland returns c.€6 billion in cash to Irish taxpayers

IRELAND

Dublin: Bank of Ireland Group CEO Richie Boucher said, “Having, to date, returned c.€6 billion in cash to the Irish taxpayers for their support and €4.8 billion investment in Bank of Ireland, we have made further substantial progress against our strategic priorities in 2014.” The CEO added, “We have grown our new lending by more than 50% to €10bn and ... Read More »

KFH, GIB Capital LLC restructure US$ 500m syndicated Ijara facility

facility

Kuwait: KFH CEO Mazen Saad AlNahedh said, “Kuwait Finance House K.S.C. and GIB Capital LLC have succeeded, as Financial Advisors, in structuring a US$ 500 million syndicated Ijara facility in favor of Sharjah Electricity & Water Authority.” It confirms KFH’s continuity in playing vital roles in financing infrastructure projects. Al-Nahedh added in a press release: “KFH’s participation of US$ 120 ... Read More »

Emirates NBD celebrates 10-year completion of its plan

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Dubai: Emirates NBD celebrates 10-year completion of its Programme for Accelerated Learning (PAL), an initiative that is central to bank’s talent development strategy. The PAL programme, which reflects the bank’s strong commitment to nurturing young Emirati talent, provides world-class training to college graduates who aspire a career in the high growth banking sector. Emirates NBD is a leading bank in ... Read More »