Halal Tamweel provides extensive news and information coverage and Islamic Wealth Management consultancy to prospective and existing investors looking to manage wealth in a Shariah Compliant manner in Pakistan.
KARACHI: The National Electric Power Regulatory Authority (Nepra) on Wednesday notified its decision to allow a 39 percent increase in the tariff of powercompanies on account of fuel adjustment charges.
The decision was announced in a statement from Islamabad after a ‘public hearing’ on different companies’ plea for the increase up to Rs0.39 for the month of August 2011.
DUBAI: Dubai-based Noor Islamic Bank has been forced by the United States to cut off its banking business with Iran as part of wider U.S. efforts to pressure Tehran over its nuclear program.
A government official in the United Arab Emirates and a source at the bank said on Wednesday Noor Islamic Bank had halted dealings with Iran, confirming a report in the Wall Street Journal.
KARACHI: Indus Dyeing Manufacturing Co. (IDYM) has posted profit of Rs 618 million in 1HFY12 which showed a decline of 40.97 percent when compared to last year where profits stood at Rs 1,047 million.
The earnings per share also declined to Rs 34.22 during the period under review compared to Rs 57.96 in 1HFY11.
SINGAPORE: crude rose above $122 on Wednesday, snapping two days of losses, in line with gains across broader financial markets on expectations that cheap loans to be offered by the European Central Bank will spur buying of riskier assets.
Asian stocks firmed and the euro held its ground as markets expect European banks to borrow about $670 billion from the ECB later in the day.
KARACHI: The Karachi Stocks Exchange is expected to stay range bound during trading session on Wednesday as concerns over falling rupee value, SRO issue reverse and uncertainty in the global commodities trend propelled investors to go for profit-taking.
The market finally took a technical correction on Tuesday after witnessing successive positive trading sessions amid result season is reaching to its final lag. Among sectors, cement sector once again remained in limelight led by DG Khan Cement (DGKC) and Lucky Cement (LUCK).
View More De tails Click Here : Halal Stocks
KARACHI: Yaseen Anwar, Governor, State Bank of Pakistan (SBP) has expressed the hope that Pakistan’s Islamic banking industry is all set to double its market share in the next five years.
Inaugurating the second two-day International Conference on Islamic Business (ICIB) on ‘Managing Shariah Conforming Businesses: Prospects, Practices and Personnel’ organized by Riphah International University at the National Institute of Banking & Finance (NIBAF)...
KARACHI: The Halal stocks KMI-30 index lost 26.25 points as market closed at the level of 22,660.06 points on Tuesday as against 22,686.31 points, the closing figure of the previous session.
The trading session once again remained flat as the Halal index witnessed volumes of 46.950 million shares on Tuesday against 47.637 million shares traded in the previous session.
SINGAPORE: The head of the World Bank said on Saturday it is right for the United States to take a leading role in some global institutions and that the right U.S. candidate for post of the bank's next president would be good for the United States and the bank.
In an interview in Singapore, Robert Zoellick also said he did not believe Spain, Italy or Portugal needed bailouts to ease massive debt burdens but that reforms needed critical support of Germany and other European leading nations.
The Linde Pakistan Limited(LINDE) has recently announced its result for the period ended December 31, 2011. The company posted the Net Profit after Taxation (NPAT) of PKR 263 Million, resulted 8pct growth comparing to PKR 244 Million during the period in preceding year. The Earning per share (EPS) of the company rose to PKR 10.50 against PKR 9.74 during FY10.
The board of director also announced the final cash dividend of PKR 5.00 per share i.e. 50% which is in addition to already paid interim cash dividend of PKR 2.00 or 20%.
KARACHI: Edible Oil Tankers Association went on strike ten days ago and Chairman Edible Oil Tankers Association “Bakhtawar Khan” vowed to continue their protest till withdrawal of cases and provision of security.
SINGAPORE, Gold traded steady on Tuesday, trapped in a tight $4 range below $1,770, as a major cash injection action by the European Central Bank expected later this week supported sentiment.
Gold posted losses in the previous two sessions as the momentum fizzled after bullion hit a more than three-month high last week, during which a Greece bailout deal and expectations of more monetary easing from key economies inspired gold bugs.
ABU DHABI: Foreign Minister Hina Rabbani Khar, who is visiting the United Arab Emirates in connection with the 10th session of the Pakistan-UAE Joint Ministerial Commission (JMC), met the Minister for Foreign Trade of the UAE, Sheikha Lubna Bint Khalid Al Qasimi, here on Monday.
ISLAMABAD: The two-day international conference on Islamic Banking (ICIB) is set to commence on Tuesday.
The conference has been organized by Riphah Center of Islamic Business (RCIB) a constituent institute of Riphah International University (RIU)...
ISLAMABAD: Riphah Centre of Islamic Business (RCIB) will hold 2nd international conference on Islamic business 2012 with a theme `Managing Shariah Confronting Businesses' from February 28.
SUKKUR: Higher Education Commission has issued ranking of the universities of Pakistan.
KARACHI: Pakistan and Malaysia have vowed to enhance bilateral economic cooperation and explore avenues for joint ventures in a host of sectors, including agriculture, construction and Halal industry.
According to information reaching from Malaysian capital Kuala Lumpur to TDAP here Monday, the understanding to "tap full potential of bilateral economic relations" was reached here at the joint meeting of the Pakistani and Malaysian chapters of the Pakistan Malaysia Business Council.
KARACHI: Pakistan cotton prices decreased along with very thin volumes traded at market on Monday. It is note worthy that demand on local and foreign end is continuously on declining trend which led to decline in cotton prices.
The Karachi Cotton Association (KCA) official rates decreased by Rs 100 per maund and closed at the level of Rs 5,400 per maund. The rates of seed cotton in Sindh were Rs 1,800 and Rs 2,300, while in Punjab, cotton rates were Rs 2,200 and Rs 2,650 dealers said.
KARACHI: Gold rates in Pakistans lipped by Rs 129 to close at Rs 51,342 per 10 grams in the local market Monday as its international price dropped to $ 1,765 an ounce, market sources said.
According to Karachi Saraf Association official, tola (11.664 grams) price also decreased by Rs 200 to Rs 59,900.
ISLAMABAD: The Senate Standing Committee on Finance, Revenue and Planning and Development and Economic Affairs on Monday directed the Ministry of Finance to devise a policy to regulate the prices of essential commodities.
The committee met here under chairmanship of Ahmed Ali. Islamuddin Shaikh, Dr. Safdar Ali Abbassi, Ilyas Ahmed Bilour, Mrs. Kalsoom Parveen, Mohammad Ishaq Dar, Professor Khurshid Ahmed, Syed Javed Ali Shah, Haroon Khan and Tariq Azim Khan attended the meeting.
KARACHI: The Halal stocks KMI-30 index gained 31.06 points as market closed at the level of 22,686.31 points on Monday as against 22,655.25 points, the closing figure of the previous session.
The trading session remained flat as the Halal index witnessed volumes of 47.637 million shares on Monday against 48.865 million shares traded in the previous session.
ISLAMABAD: Belarus is keen to cooperate with Pakistan in tractor industry, Chairman, Board of Investment (BoI), Saleem H. Mandviwalla said after paying official visit to the republic.
During his visit to Belarus republic, Mandviwalla met with Belarusian Minister for Industry Dmitry Katsiarynich, Minister for Economy Nikolai Snopkov, Chairperson of the National Bank of Belarus Nadezhda Ermakova, Deputy Minister for Foreign Affairs, Deputy Minister for Agriculture and Director General of Belarusian Meat and Milk Company.
KARACHI: Sui Northern Gas Pipeline Ltd (SNGPL) profit for 1HFY12 increased by 38.46 percent year on year (YoY) to Rs 648 million as compared to Rs 468 million in corresponding period of last year mentioned in a notice issued by the company to Karachi Stock exchange on Monday.
The company’s board of management in their meeting held on Monday announced the financial results for the half year ended December 31, 2011.
KARACHI: The urea sales rose by 55 Percent YoY to 610k tons during the month of January as compared to 394k tons recorded in same month last year due to cheap availability of imported urea available in the market.
The National Fertilizer Development Corporation (NFDC) has recently released fertilizer sales figures for the month of Jan-12.
ISLAMABAD: Advisor to Prime Minister on Textile Dr. Mirza Ikhtiar Baig said on Monday that Pakistan has got duty free trade concessions on 75 different items from European Unions in a meeting held at Brussels recently.
Talking to PTV, Mirza said that we set modalities on trade concessions with EU and these concessions started from January 1, 2012, and its approval would be taken in the subsequent World Trade Organization (WTO) meeting.
KARACHI: Pakistani firms have received keen response from buyers at world's largest hospitality trade show Gulfood 2012, recently concluded at Dubai, UAE.
Urea sales surged in Jan 2012
KARACHI: The urea sales rose by 55 Percent YoY to 610k tons during the month of January as compared to 394k tons recorded in same month last year due to cheap availability of imported urea available in the market.
The National Fertilizer Development Corporation (NFDC) has recently released fertilizer sales figures for the month of Jan-12.
View More Click Here...
As per Islam, this world is a place for test and the people who are deprived and those who are privileged, are both tested for patience and thankfulness to Allah and how they take care of society and its needs.
The persistent current economic crisis is pushing the global economy to adopt the way nature acts. Sometimes, we find the resources by digging out the things, while at other times, the nature throw them out from bottom to the surface. The failure of trickledown effect is also indicating the need of identifying a divergence to open any new headway of growth, productivity and a long term sustainability of economy at large.
Its quite funny when you watch people to display their true colors of economic intelligence. They are not impressive to use common sense. I was watching CNBC's "Squawk on the Street" the other day and one of the people on the show, I forgot who, asked a very good question about the European debt crisis. The question was: “Why doesn’t the ECB just put a cap on the interest rate of Italian 10-year bonds of 7 percent?”
KARACHI: Cement Sector has remained outperformer during the ongoing fiscal year as it has fascinated considerable investors in the Karachi Stock Exchange (KSE) due to several positive factors which kept investors’ attraction alive in the sector.
2/20/2012 5:46:12 PM
The Karachi Electric Supply Company (KESC) has embarked on the first of its kind project in Pakistan, with the aim to convert its 1,260 MW (210 MW x 6 units) Bin Qasim Power Plant into a coal-fired generation plant.
2/20/2012 3:17:19 PM
Pakistan Paper Products limited (PPP) revealed its result for the period ended December 31, 2011. In spite of the grimed law and order situation along with the slow paced economical activities which keep depicting un-favored environment for the company’s earning, the company productively managed to sustain in profit. In this respects, the company highlighted 4pct growth in its bottom-line to PKR 11.30 Million during the first half year of the current fiscal year 2011-2012, resulting in the Earning per share (EPS) of PKR 2.26 per share comparing to the net profit and EPS of PKR 10.87 Million and PKR 2.17 per share respectively.2/20/2012 4:26:07 PM
TEHRAN: Iran has stopped selling crude to British and French companies, the oil ministry said on Sunday, in a retaliatory measure against fresh EU sanctions on the Islamic state's lifeblood, oil.
"Exporting crude to British and French companies has been stopped ... we will sell our oil to new customers," spokesman Alireza Nikzad was quoted as saying by the Ministry of Petroleum website.
2/20/2012 5:38:23 PM
KARACHI: The Halal stocksIndex KMI- 30 index gained 44.98 points as market closed at the level of 22,299.85 points as against 22,254.87 points, the closing figure of the previous session.
The trading session remained lively as the Halal index witnessed volumes of 30.988 million shares against 53.778 million shares traded in the previous session.
2/20/2012 12:19:45 PM
SINGAPORE: Malaysian crude palm oil futures hit an eight-month high on Monday as China's policy easing buoyed sentiment, while an improvement in demand prospects and technical outlook also provided support.
2/20/2012 11:53:59 AM
KARACHI: According to National Clearing Company of Pakistan (NCCPL) data, Pakistan’s Mutual Fund industry was the net sellers of $5.367 million or Rs 483.085 million worth of shares during the week ended on February 17, 2012. Mutual funds were the net sellers of $5.001 million or Rs 450.141 million worth of shares during the week ended on February 10, 2012.
2/20/2012 10:54:21 AM
Dubai: Tecom Investments, a diversified conglomerate and a member of Dubai Holding, said, it has a 25 per cent share in Emirates REIT in addition to liquidity for Dh170 million.
Emirates REIT was established in November 2010 to offer investors a strategic market entry opportunity, as well as the professional management of held assets and a promise of long-term returns.
2/20/2012 10:34:37 AM
ISLAMABAD: Speakers at a seminar here on Saturday said that lack of awareness among the majority of population was a main hindrance in the development of stock markets.
Addressing a seminar organized by Association for Investors Awareness (AIA) in collaboration with the Islamabad Stock Exchange (ISE), Dr. Babar Zaheer-ud-Din said that the public participation remained thin because of the least information about of stock markets.
2/20/2012 10:26:19 AM
KARACHI: Pakistan cotton prices remained at the same level along with thin volumes traded on Saturday as mills and spinners remained on sidelines to see the aftermath of Pakistan Cotton Ginners Association (PCGA) report whereas exporters were seemed interested in buying cotton.
