Regional markets to stay on growth track

The region’s stock markets are likely to continue last week’s rally this week, buoyed by robust global oil prices, better than expected US employment data for January and positive news flows from Europe which indicate the Eurozone sovereign debt crisis is manageable, analysts say.

“Investors are back in the market. In Saudi Arabia, the prevailing high oil prices and talk about the government allowing foreigners to buy and sell shares on its market are acting as catalysts, while in the UAE, the bank results, which were positive in the fourth quarter are the catalyst,” Samer Darwiche, Associate at Dubai-based Gulfmena Investments Ltd, told Gulf News by telephone.

The (Passed) Winds of Change – Part 2

Again, here’s my take on the news. I think the three more important ones, that directly pertain, hence affect, the Karachi stock exchange, are:

1. The release that Prime Minister Shaukat Aziz is to postpone the decision to levy Capital Gain Tax for the next year.
2. The Sindh Government’s decision to discontinue stamp duty on electronic transfer of shares. [This proposal was in the last budget (June 2006). The duty was Rs. 0.01 per share.]
3. The opposition and disfavor of the Public Accounts Committee toward the privatization of Pakistan State Oil (PSO).

CDC out to lure investors from UAE

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 informing and updating potential investors on the economic climate of Pakistan, the various investment options available in the Pakistani stock market and the functions of CDC as an infrastructure service provider to facilitate investment in the capital market. The forum would also address any queries and concerns of the business community of the UAE.