By Kazim Alam KARACHI: Politics took a heavy toll on the share market in the outgoing week as the KSE-100 index slid 4.9 per cent to close at 43,078 points. Unending political uproar affected the average daily turnover, which shrank 3.4pc from the preceding week to 184 million shares. The benchmark index has lost about … Continue reading Stocks down 5pc in turbulent week on panic-selling
By Kazim Alam KARACHI: Dalda Foods Ltd and its parent company are going to raise more than Rs7 billion through the stock market by selling 25 per cent shares in the edible oil business, according to a recent regulatory filing. The food entity will issue 30 million new shares at the minimum price of Rs85 … Continue reading Dalda plans Rs7bn share offer for public
For-profit entities exist to make profit. But some businesses exist for another reason: to bring prestige to a conglomerate. Here're a few lines that the head of the news division in HBO series The Newsroom says to a sister-brother duo that is attempting a hostile takeover of ACN, a news network that's trying to do journalism the way it … Continue reading Business that’s not for money
By Kazim Alam A storm of self-congratulatory tweets brought to our attention a pleasant surprise a couple of months back: Pakistan is set to become the 16th largest economy by 2050, according to a report by PricewaterhouseCoopers (PwC), one of the world’s biggest consulting firms. Using values from past data to derive future estimates is … Continue reading Is Pakistan running out of physical space?
By Kazim Alam The State Bank of Pakistan just allowed the rupee to devalue against the dollar by 3.1 per cent to Rs108.095. That's the biggest plunge in the rupee's value in nine years, according to Bloomberg News. Here's a piece I wrote a couple of months back on the topic of devaluation. Your feedback … Continue reading SBP just devalued the rupee by 3.1%. Will it lead to higher exports?
By Kazim Alam Are you tired of being stuck in a gridlock every evening? Do you expect traffic jams will disappear once the Sindh government widens all major roads in Karachi? Let me break it to you: jams are here to stay – at least until we adopt a proper public transport system. Here’re a … Continue reading Widening the roads won’t end traffic jams
By Kazim Alam KARACHI: Presenting the Sindh budget for 2010–11, then finance minister Murad Ali Shah had termed the newfound right of the province to collect sales tax on services a “momentous achievement” for the ruling party that “won this with serious and persistent efforts”. In the seven budget speeches that followed, Mr Shah would … Continue reading Sindh’s reliance on a single tax grows
By Kazim Alam KARACHI: Statistics released by the national data-collecting agency paint an unflattering picture of exports, which came down 9 per cent annually between 2013-14 and 2015-16. In particular, textile exports that constitute about three-fifths of the total registered negative growth in July-March despite preferential market access to the European Union, largest foreign consumer … Continue reading Italian businesses are waking up to Pakistan’s potential: envoy
By Kazim Alam KARACHI: As many as 50 per cent of the “emerging affluent” Pakistanis prefer to save cash at home as opposed to only 15pc Indians belonging to the same segment of society. According to a study carried out in eight countries by Standard Chartered Bank (SCB) along with independent research agency GlobeScan, the … Continue reading ‘Pakistanis prefer to save cash at home’
By Kazim Alam KARACHI: Martin Dow Ltd Chairman Jawed Akhai said on Friday the pharmaceutical company is looking into the possibility of acquiring a biotech company in France. It will be Martin Dow’s third acquisition in France if the ongoing negotiations bear fruit, Mr Akhai said while speaking at the third annual general meeting (AGM) … Continue reading Martin Dow in talks to buy French biotech firm