Business News
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Stocks extend losses on profit-taking
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[ad_1] KARACHI: Trading on the stock exchange began on a positive note on Tuesday after the central bank’s decision to keep the benchmark interest rate unchanged at 9.75 per cent. The market stayed in the green zone with cement stocks remaining in the limelight on the expectation of high earnings in the upcoming results’ season,…
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Hascol to help FIA
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[ad_1] KARACHI: The board and management of Hascol Petroleum Limited (HPL) on Tuesday said the company had been cooperating with the FIA’s investigations into HPL’s past activities to ensure ‘complete transparency’. According to HPL, it had already disclosed much of the information being assessed by the FIA to the Pakistan Stock Exchange (PSX). “Hascol submits…
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Honda Atlas profit falls 41pc
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[ad_1] Total profit for the nine-month of Atlas Honda was recorded at Rs2.31 billion against Rs897.65 million. KARACHI: Honda Atlas Cars (Pakistan) Ltd on Thursday announced a decline of 40.68 percent in profits for the quarter ended December 31 because of an increase in the cost of sales. In a statement to the Pakistan Stock…
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Stocks wind up flat as economy seen in a wobble
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[ad_1] Stocks on Tuesday were flattened by profit-taking as central bank’s slashing its growth forecast for this fiscal raised questions over economic recovery amid IMF loan limbo, traders said. Benchmark KSE-100-share Index eased by 36.14 points or 0.08 percent to 44,887.77 points after swinging between 45,255.92 and 44,847.71 points during the . Ahsan Mehanti, an…
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IMF warns of possible market correction as interest rates rise
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[ad_1] A picture of the IMF headquarters in Washington DC. — AFP/File WASHINGTON: Global equity markets that have see-sawed in recent weeks but show signs of “overvaluation” are at risk of a sharp correction as major central banks raise interest rates, a top international Monetary Fund (IMF) official said Tuesday. “We are certainly living in…
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Forex Today: Stocks Tumble to Correction on Fed
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[ad_1] (MENAFN- Daily Forex) Stock markets fell hard yesterday before rebounding late, with the S&P 500 Index recovering all its losses but still ending the day below its 200-day moving average. At one stage, the index was down by more than 10% from its record high, into correction territory. During the Asian session, stocks have…
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Biden’s gaffes now matter
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[ad_1] OPINION: Accuracy is making a comeback. The plagiarist-in-chief gave a long off-the-cuff press conference, complete with misstatements and canards, and now his listeners around the world are apprehensive that the Russians may take him at his word and launch an invasion of Ukraine. White House spokesmen have spent days walking back the plagiarist-in-chief’s misstatements,…
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Cotton sowing area to rise 20% | The Express Tribune
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[ad_1] MULTAN: The cotton plantation area will be increased by 20% in the upcoming season, announced South Punjab Agriculture Secretary Saqib Ali Ateel. In a meeting with Agriculture Task Force for Revival of Cotton Chairman Abid Mahmood Khagga on Tuesday, the secretary noted that best strategies were adopted during the year 2021, which resulted in…
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Alvi for boosting support to businesses | The Express Tribune
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[ad_1] SUKKUR: The government is determined to provide a conducive environment to the business community, said President Dr Arif Alvi. While addressing the office bearers and members of the Sukkur Chamber of Commerce and Industries (SCCI) on Tuesday, he said that efforts were afoot for promotion of the industrial sector of the country. “Several steps…
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Honda Atlas profit falls 41% | The Express Tribune
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[ad_1] KARACHI: Honda Atlas Cars’ profit dipped 40.68% to Rs445.9 million for October-December 2021 on the back of a surge in distribution and marketing costs and high other expenses. According to a notice sent to the Pakistan Stock Exchange on Tuesday, the company had reported a profit of Rs751.8 million in the same period of…
