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Karachi, December 20, 2012 (PPI-OT): On Wednesday market again opened in a positive and upside trend. According to RSL Securities Limited, the highest level of the market was seen near the start of the session at the level of 16,913.33 points. From there market showed a declining trend. The support …

Karachi, December 20, 2012 (PPI-OT): Prime Minister Raja Pervez Ashraf has encouraged Etisalat’s representatives to participate in the bidding process of the auction of 3G Spectrum technology. According to Alfalah Securities Limited, the auction would increase the broadband connectivity in the country. The government has already formed an oversight committee …

Karachi, December 20, 2012 (PPI-OT): Byco Oil Pakistan Ltd. has announced the completion of its new refinery at Mouza Kund District Lasbella, Baluchistan which will be on-line in December, 2012. According to Alfalah Securities Limited, the new refinery, which cost USD 450 million has the nameplate capacity to process 120,000 …

Karachi, December 20, 2012 (PPI-OT): New ray of hope, again! The Economic Co-ordination Committee (ECC) has in principal approved the long term plan regarding the gas availability to the energy-deprived fertilizer sector. According to Arif Habib Limited, while the Ministry of Petroleum and Natural Resources (MP and NR) presented a …

Karachi, December 20, 2012 (PPI-OT): Delegation comprising of members of SECP, Stock Exchanges and some main securities companies held a meeting with the President Asif Ali Zardari on Wednesday December 19, 2012 to discuss matters relating to capital markets. According to Alfalah Securities Limited, president has termed the completion of …

Karachi, December 19, 2012 (PPI-OT): Mr. Imran Maqbool has been appointed President/CEO of MCB Bank Ltd. with effect from December 22, 2012 and will replace Mr. M.U.A. Usmani after his retirement at the age of 70 years. Mr. Imran started his career from Bank of America, where he worked at …

Karachi, December 19, 2012 (PPI-OT): The current account (C/A) is reported to be in deficit of USD 638 million in November 2012 as against a deficit of USD 686 million in November last year and USD 177 million in October 2012. According to Alfalah Securities Limited, the cumulative five months …