Eni said on Wednesday that the delivery of a liquefied natural gas (LNG) cargo to Pakistan LNG Limited that was scheduled for February has been disrupted due to an event of force majeure. The Italian major has a 15-year deal to supply Pakistan LNG with one cargo a month from 2017 to 2032. “February LNG delivery disruption is beyond the reasonable control of ENI and due to an event of force m
Bulls regained their control of the Pakistan Stock Exchange on Tuesday as investors celebrated the positive triggers on the economic front. Arif Habib Ltd said investors welcomed the much-needed clarity provided by the monetary policy statement announced a day ago. The index of representative shares opened in the positive range and stayed at an elevated level throughout the trading session.
A European recession looked like a no-brainer just a few weeks ago, but that picture has changed dramatically, and investors have started pouring money into the region’s stocks, currency and bonds. Warmer temperatures and well-filled gas storage facilities mean there’s less concern about power shortages and sky-high energy bills. That, along with China reopening its economy at breakneck speed,
Arif Habib Corporation Ltd is selling its entire shareholding in MCB-Arif Habib Savings and Investments Ltd, a listed joint-venture with MCB Bank that operates pension and mutual funds. The conglomerate told its shareholders on Tuesday it’ll sell its 21.6 million shares, which constitutes 30.09 per cent shareholding in the asset management company, to MCB Bank at Rs30 apiece. The transaction
The share price of Kohat Cement Company Ltd (KCCL) increased on Tuesday by 7.5 per cent, maximum allowed in a day, after it made an announcement about its upcoming share buyback exercise. KCCL told investors on Tuesday it wants to buy back up to five million of its shares from the stock market at the prevailing price for the purpose of cancellation. The move is aimed at improving the earning