Stocks down 5pc in turbulent week on panic-selling

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

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SBP just devalued the rupee by 3.1%. Will it lead to higher exports?

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?

Italian businesses are waking up to Pakistan’s potential: envoy

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

Martin Dow in talks to buy French biotech firm

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