With an increase in inflows in the open market, exchange companies sold around $150 million to banks in the 13 working days of November and hoped to sell another $150m in the remaining days of the month. “We have sold about $150m to banks during the 13 working days of the current month against $350m sold in October,” said Malik Bostan, the chairman of the Exchange Companies Association of Pakis
Lucky Cement Ltd has completed a second share buyback exercise representing 6.5 per cent of its paid-up capital at spot prices, the company said on Tuesday. According to data compiled by Arif Habib Ltd, the cement maker’s average purchase price was Rs632.60 per share for 20.375 million shares that it bought between June 2 and Nov 20. As a result, the share buyback cost the company a total of
In a significant development for the seafood industry, Pakistan has successfully secured a two-year extension until Dec 31, 2025 to continue the commercial export of fish and fish products to the United States. This decision by the US administration exempts Pakistan from adhering to the standards outlined in the Marine Mammal Protection Act (MMPA) of 2016, according to an official announcement
Amid struggling project implementation and calls for more transparency by multilateral and bilateral lenders, the caretaker government on Tuesday made a pitch for additional international financial support, particularly those relating to ‘debt for nature and debt for social development swaps’ to help Pakistan meet climate finance targets. The appeal for additional financial support was made by
The benchmark of representative shares managed to stay above the 57,000-point level on Monday at the end of a daylong battle between the bullish and bearish forces. Topline Securities Ltd attributed the fierce clash of bears and bulls to the fact that Monday marked the beginning of the rollover week for the November futures contracts. There are positions worth Rs18 billion that’ll get either se