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Karachi: Market Watch: Stocks close positive on signing of CGT ordinance
Investors breathed easier on Wednesday after reports that the long-awaited capital gains tax ordinance was finally signed by President Asif Ali Zardari; giving some certainty to investors over the issue.
According to MR Securities, the bill is due to be tabled before the National Assembly on May 25.
Public companies: 0.01pc CVT imposed on purchase of shares
The federal government has imposed 0.01 percent capital value tax (CVT) on purchase of shares of a public company listed on a registered stock exchange and source of investment in the shares would not be asked up to June 30, 2014 where amount would remain invested for a period of 120 days.
7-member bench of SC convicts Prime Minister Gilani till rising of court
A seven member bench of the Supreme Court, headed by Justice Nasir ul Mulk, convicted Prime Minister Syed Yousuf Raza Gilani till rising of court in a contempt case, initiated against him for not implementing NRO judgement.
FPA for February-March 2012: Discos allowed Rs 2.38 per unit tariff hike
National Electric Power Regulatory Authority (Nepra) has allowed Distribution Companies (Discos) to raise electricity rates by Rs 2.38 per unit across-the-board for February and March 2012, under the fuel price adjustment formula.
Pakistan ranks third among ADB recipients
Pakistan ranks third among top recipients of funds from the Asian Development Bank (ADB), including co financing, an ADB report says.
After tax loss of NIB Bank reduces to Rs 145.125 million
The after tax loss of NIB Bank has reduced to Rs 145.125 million in the quarter ended March 31, 2012 as compared to after tax loss of Rs 795.184 million in the corresponding quarter in 2011.
Pakistan Petroleum profits soar 33% to Rs32 billion
Pakistan Petroleum profits rose 33% to Rs32.27 billion in the period from July 2011 to March 2012 amid better performance across the board.
Lotte Pakistan profits fall from billions to millions
After making more than Rs2 billion in the same quarter last year, Lotte Pakistan PTA profits nosedived 93% to Rs151 million amid falling prices of its primary product during January to March 2012.
Profit after tax of Askari bank increases
The profit after tax of Askari Bank Limited has increased to Rs 574.130 million in the quarter ended March 31, 2012 as compared to Rs 538.250 million earned in the corresponding quarter in 2011.
Soneri Bank posts Rs 679.6 million pre-tax profit
Soneri Bank Limited posted a pre-tax profit of Rs 679.60 million for the first quarter 2012. The first quarter net mark-up income after provisions jumped up by 63.26 percent and amounted to Rs 1,109.93 million as compared to Rs 679.85 million generated during the first quarter 2011.
Bank Alfalah shows interest in IGI Investment Bank
Bank Alfalah Limited has shown interest to acquire IGI Investment Bank and its two subsidiaries. According to information sent to Karachi Stock Exchange, IGI Investment Bank Limited and Bank Alfalah Limited are negotiating for the take-over by Bank Alfalah of IGI Investment Bank together with its wholly owned subsidiaries.
RPPs: government files review petition
Government on Wednesday filed a petition, seeking a review of Supreme Court judgment in Rental Power Plants case that declared all the rental power plants (RPPs) illegal and non-transparent last month.
PSO decides to set up oil refinery in Khyber Pakhtunkhwa
The Pakistan State Oil (PSO) has decided to set up an oil refinery in Khyber-Pakhtunkhwa (KP) with a daily capacity to refine up to 36,000 barrels of crude oil, it is learnt.
Seeking to overcharge consumers: gas utilities putting undue pressure on Ogra through MoP
The public gas utilities, SSGCL and Sui-Northern Gas Pipelines Limited (SNGPL), are pressurising the Oil and Gas Regulatory Authority (Ogra) through Petroleum Ministry to allow them to overcharge gas consumers by Rs 10 billion on account of Unaccounted for Gas (UfG) in the next fiscal year 2012-13.
Pakistan Steel gets Rs5bn final bailout tranche
The federal cabinet, on Wednesday, sanctioned Rs5 billion to Pakistan Steel Mills (PSM) and asked the finance ministry to provide a government guarantee to the National Bank of Pakistan (NBP) for bailing the mill out of its financial crisis.