Monday, 21 May 2012
Trading activities of Mutual Funds from May 14, 2012 till May 18, 2012 showed that they were gross sellers of Rs 2,338.850 million worth of shares while gross buyers of Rs 1,797.273 million worth of shares. Hence, they ended as net sellers in the market.
KARACHI: Speakers at the 1st Islamic Finance Expo and Conference have asked Islamic banks to distribute the profit among shareholders and depositors alike and on the basis of Islamic principle of justice.
They said that depositors hand over their savings to Islamic banks and it is their duty to also give a fair return to depositors on their savings
Wednesday, 16 May 2012
SINGAPORE: Oil fell more than $1 on Wednesday, with the U.S. benchmark dropping to a five-month low, as a larger-than-expected rise in crude stocks in the United States and fears of Greece's exit from the euro zone muddied the outlook for demand growth.
ISLAMABAD: Gold price dropped to a multi-months low on Tuesday in the local markets owing to its lowered rates in the international market.
"Gold price in the international markets has witnessed the lowest price in 2012 of around US $1556 per ounce which affected the prices in local markets as well", President Karachi Saraf Jewellers Association, Haroon Rashid Chand told APP by phone on Tuesday.
KARACHI: Pakistan cotton prices remained unchanged along with slightly improvement in volumes during trading session on Tuesday.
The demand of commodity is still very low on local and foreign markets, which led to sluggish business activity.
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KARACHI: The fast-growing Islamic finance industry (IFI) holds the potential to contain unemployment and boost economy if an efficient and effective monitoring mechanism is in place.
Dr. Ali Hasan Hamdani, an economist associated with a local private sector university in a statement received here on Tuesday said IFI industry needed creativity and guidance to ensure Shariah compatibility and integrity of the products offered in the country.
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