KARACHI – MOL, an integrated oil and gas group in Hungary, in its ‘Investor presentation March 2011’, indicated an aggressive stance for their exploration and development programme in Pakistan. The company’s stance would also yield positively on its domestic JV partners, particularly Pakistan Oilfields Limited (POL). The investor’s presentation reiterate MOL’s conviction in its hydrocarbon reserves in Pakistan, including Tal, Karak and Margala block in its key projects. The
KARACHI – Karachi Stock Exchange bucked a hitherto robust trend in February-2011 where 1Q has historically been a strong period for the KSE, but 8.7 percent MoM decline for KSE-100 is the worst February showing in last 20 years and is only the 6th negative MoM February reading since 1992. While domestic and international politics remained noisy, ongoing MENA tensions triggered rally in commodities, raising concerns on follow through impact on Pakistan macros.
ISLAMABAD – To root out terrorism and extremism and to bring peace and prosperity in the country, every individual in the society must strictly oppose extremism in strong words, the speakers said at seminar in the federal capital on Friday.
They said every person was equally responsible to make efforts for eradication of terrorism. If the society failed to fulfil the obligation, extremists would impose their agenda with the use of forces on people, they warned at a discussion
LAHORE – Former prime minister and PML-N chief Mian Nawaz Shairf has said that a strong Pakistan is vital for the world at large. He was talking to special envoy of Swedish government for Pakistan and Afghanistan Niclas Trouve accompanied by Swedish ambassador Mrs Ulrika Fundberg who called him at Raiwind here on Sunday.
Nawaz said that an economically strong Pakistan was necessary for the whole world. He urged the diplomats to ensure Pakistani traders’ access to European
KARACHI – Refineries have posted strong results in the first half of the Financial Year 2011. Improved Gross Rent Multipliers (GRM) pushed performance upwards in the first quarter of Financial Year 2011, while better lube earnings for National Refinery Limited (NRL) and dividend income for Attock Refinery Limited (ATRL) helped earnings in the 2QFY11.
However, a relatively weak quarter is expected ahead as a result of feeble GRM’s in the 3QFY11. In addition, removal of deem duty
DOHA – Birthday boy Retief Goosen shot a three under-par 69 to take a one shot clubhouse lead midway through the first round of the 2.5 million dollar Qatar Masters here on Thursday. Goosen, the 2007 champion in Doha, overshadowed World No.1 Lee Westwood at the Doha Golf Club where most golfers struggled to settle into a rhythm with strong winds adding to their problems on an already difficult course where the thick rough had been a talking point before the tournament began.
KARACHI – Fauji Fertiliser Company (FFC) is expected to record revenues of Rs 44 billion, an annual growth of 22 percent, primarily attributable to higher urea prices. Urea prices rose due to a curtailment in gas supplied to the fertiliser sector, whereby manufacturers were forced to cut back on production. Consequently, gross margins for the company are likely to improve by 100bps to 44 percent in 2010.
FFC is scheduled to announce its 2010 result on January 27 while the company
KARACHI – Attiya Shaukat is a contemporary miniature artist who has honed her skill in the miniature studio and created exquisite paintings of her personal tribulations and joys, Amna Tirmizi Naqvi of the Gandhara-art Space said.
Gandhara is running an art exhibition of Shaukat’s works under the title of ‘Damsel in Shining Armour’ until February 12.
“Much like Shaukat’s contemporaries, her work depicts a current and personal narrative rather than a historical one. Her
TOKYO: Japanese business confidence has weakened for the first time in nearly two years, the Bank of Japan said Wednesday, as the economy has been hit by a soaring yen and global economic uncertainty. The closely-watched quarterly Tankan survey showed sentiment worsening, albeit not as fast as expected, as global and domestic economic woes have sapped corporate optimism, particularly among exporters. In the survey, the confidence index for large manufacturers dropped to “five” from
LAHORE: China’s economy has been transformed from Maoist basketcase to the second largest in the world in the course of a couple of decades. Analysts eagerly anticipate that it is only a matter of time before it assumes the position of number one and outstrips the faltering colossus that is the American economy.
It possesses, they point out, a massive capital base, hordes of proficient, cheap, automaton workers and an enormous trade surplus running into a tidy sum of $2.5
Telenor has announced its revenue results for the third quarter of current financial year exhibiting growth of nearly ten percent in its subscription base, taking the total tally to 23.84 million.
Its market share remained at a respectable 23 percent and earnings before interest taxes depreciation and amortization (EBITDA) was calculated to be 29.7 percent. Jon Eddy Abdullah, CEO Telenor Pakistan, while commenting on the results said that Telenor Pakistan
The KSE 100 index closed 46 points down, despite the precedent set by positive corporate results and decent trading volumes in the previous trading sessions.
A short break was expected before continued progression towards the 11,000 mark, given the KSE-100’s unabated expansion of 2.3 percent during the last four trading sessions. The index touched its peak level of 10,748 in the opening hours of the trading session, but selling pressure subdued the impetus of buying
ISLAMABAD: Pakistan and Russia have finally decided to enhance their economic and trade cooperation after a limbo of 25 years.
Board of Investment (BOI) Chairman, Saleem H. Mandviwala and Russian Ambassador, Budnik Andrey made this announcement at a joint news conference here on Wednesday.
The Russian Ambassador said Russia considered Pakistan as a key player for economic development in the region.
“We want to develop our economic cooperation with Pakistan” he said.