Continuous Funding System (CFS) cap has been enhanced to Rs55 billion from Rs24.5 billion for Karachi Stock Exchange.
The new CFS cap for Lahore Stock Exchange has been enhanced to Rs10 billion and Rs5 billion for Islamabad Stock Exchange, with effect from October 2, 2006. The decision was announced following a meeting between SECP and management of three exchanges here on Monday.
Reviewing the August 02, 2006 deci [...]
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Tagged Badla, CFS, ISE, KSE, LSE, SECP, VaR
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The federal government intends to start three new options ie call, switch and swap in its securities.
Sources of banking industry said that by starting these three new options in both federal as well as provincial securities, institutional investors, both local and foreign, will be lured to make investment.
India by changing its Security Act of forties, 4 years ago had created depth and widened investment scope in [...]
The Central Depository Company (CDC) of Pakistan Limited will host road shows to promote investment in the Pakistani capital markets at Abu Dhabi and Dubai on September 18 and 20 respectively.
These road shows intend to offer new avenues of investment in one of the region’s best performing stock markets. The events are being held with the support of the Pakistan Business Council of Abu Dhabi.
These events aim at [...]
MCB Bank Ltd, Pakistan’s second-largest listed bank, said on Thursday it was preparing a global depository receipt (GDR) sale in London worth up to $150 million.
MCB, which ranks behind National Bank of Pakistan on the Karachi Stock Exchange (KSE) with a market capitalisation of about $1.9 billion, will start pre-marketing the offer later this month.
That timetable could beat to the market a potentially larger Lo [...]
The State Bank of Pakistan on Thursday announced creation of new four-tier administrative system.
The new administrative system of the central bank will create financial markets and reserve management cluster under which there will be a banking finance group, which will focus on high priority credit sectors such as infrastructure financing, housing finance, Islamic banking, SME and microfinance.
Governor SBP for th [...]
Investors in stocks, who lost their life-time savings during the stock market crisis of March 2005, are eagerly awaiting the forensic investigation report.
In early July three forensic experts from the US were called in to assist a team of Security and Exchange Commission of Pakistan (SECP) officials and foreign auditors in uncovering the trails of the financial fraud, if one had actually been committed.
Seven to e [...]
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Tagged KSE, SECP, UIN
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Standard Chartered PLC announced on Tuesday that its subsidiary company, Standard Chartered Bank (Pakistan) Limited, has completed the acquisition of 95.37 per cent interest in Union Bank Ltd.
The bank said it had paid an amount of $487 million for the purchase of Union Bank.
Pursuant to the acquisition, Standard Chartered Bank will submit a scheme of amalgamation to the State Bank of Pakistan. On approval, Union B [...]
Pakistan Industrial Credit and Investment Corporation (PICIC) is preparing for a complete sell-out and ABN Amro has shown interest in the group.
The current wave of foreign investments in the financial sector of Pakistan could take a new turn if the PICIC like institutions are sold to an international bank.
“We have information that ABN Amro has shown interest and initiated a dialogue with the PICIC officials,†[...]
Buying in cement and some notable scrips averted big losses at the Karachi stock market on Monday as the KSE 100-share index lost 45.97 points, but maintained 10,100 level amid slightly increased turnover of 180.229 million shares.
The market capitalisation fell by Rs13 billion to Rs2.835 trillion. It is pertinent to mention here that the newly introduced KSE 30-index fell by more points (72.88 points) as compared [...]
