Sunday, May 31, 2020

Asia

Pakistan’s Equity market bounces back on financial results

After two days of negative drive, Pakistan Equity market KSE-100 index bounced back with positive close. On Wednesday the benchmark KSE-100 index of Pakistan Stock Exchange (PSE) surged by 322 points or (0.81%) closed at 40,279. The start was similar...

Rupee gains against USD

Pak rupee gained 10 paisas against dollar on Wednesday to close at Rs138.90 compared with the last closing of Rs139.00 in inter-bank market. The market sentiment was improved because of the successful visit of Saudi Crown Prince Mohammed bin Salman,...

Engro earning grows by 45 percent in FY 2018

Pakistan’s premier conglomerate, Engro Corporation (PSX: ENGRO) announced its financial results for full year ended December 31st, 2018. The Company posted a consolidated profit-after-tax (PAT) of PKR 23,632 million – up by 45%, while PAT attributable to the shareholders increased to...

UBL earning shrinks by 41% YoY

UBL announced earnings on Wednesday for CY18 at PKR 15.5bn (EPS: PKR 12.65/share), depicting a YoY decline of 41%, above expectations. Ex-pension liability, earnings have contracted ~28% YoY primarily on account of heavy provisioning booked during the year (+5x...

MCB announces earning of Rs 20.30 billion, Rs 17.17 EPS

MCB announced earnings on Wednesday for CY18 above expectations, at PKR 20.3bn (EPS: PKR 17.17/share), depicting a YoY decline of 7%. Higher OPEX (+18% YoY) and pension liability of PKR 1.9bn led to the downturn. However strong growth in...

Rupee weakens against US dollar

Pak rupee shed 15 paisas against dollar on Tuesday to close at Rs139.00 compared with the last closing of Rs138.85 in inter-bank market, as demand remained higher. The market sentiment was improved because of the successful visit of Saudi Crown...

Pakistan’s stock market remain in red on FATF concerns

The benchmark KSE-100 of Pakistan Stock Exchange (PSE) on Tuesday plunged 262 points or (-0.65%) closed at 39,957. Market remained under pressure throughout the day barring an initial burst of positivity that added 100pts to the index. During the day,...

Erdoğan to visit Pakistan next month; big announcements likely

Turk Consul General in Pakistan Tolga Ucak has said that President of Turkey Recep Tayyip Erdoğan will visit Pakistan next month, and he would make big announcement during the visit. Ucak said that Turkey had an unbreakable bond with Pakistan,...

Power generation up by 4.4% YoY in 7MFY19

During 7MFY19 power generation in Pakistan witnessed an increase of 4.4% YoY. The share of FO based generation has increased to 22% compared to 20% in same period last year. However, the share of RLNG based generation has declined...

ENGRO earnings likely to jump up by 48% YoY

Engro Corporation Limited (ENGRO) is scheduled to announce its CY18 financial result, 2019. Analysts expect the company to post a consolidated profit after tax (PAT) of PKR 14,310mn (EPS: PKR 27.32), as compared to PKR 9,406mn (EPS: PKR 17.96)...

Latest News

Venezuela raises petrol price for first time in 20 years

The Venezuelan President, Nicholas Maduro, announced today, Sunday, the raising of fuel prices, which until now was almost free,...

Coronavirus deaths in Latin America exceed 50 thousand

According to statistics, the number of deaths from the Coronavirus in Latin America exceeded 50,000 cases on Saturday, and that the infections were close...

Protests across US as cop charged with murder of George Floyd

Protests have broken out in cities across the United States calling for justice following the death of George Floyd in police custody when a...

White House placed briefly on lockdown due to protests outside

On Friday, the Secret Service of the United States issued a decision to close the White House due to protests outside the gates against...

COVID-19 deaths around the world have crossed 367,000 mark whilst 2.6 million recovered

Coronavirus infection worldwide exceeded the 6 million mark, according to "World Meter", the number of infected people reached 6,045,653, while the number of deaths...