Facebook has priced its shares ahead of one of the most eagerly-anticipated share flotations in recent stock market history. The social network said on Thursday that it valued shares at $38 (£24) each, and that its shares would begin trading in New York on Friday.At this price the eight-year-old firm would be worth $104bn (£66bn).Demand [...]
Compelled to cut prices: Entering Kharif season with more than a million ton inventory and limited storage capacities, fertilizer manufacturers were compelled to cut urea price by PKR 145/bag. Huge inventory pile up amid cheaper imported urea, remained the main impetus behind the price reduction. According to industry sources, the reduced price of PKR 1,650/bag [...]
NEW YORK: The euro, oil and stocks fell on Tuesday as Greece’s commitment to bailout pledges was put into question following elections, threatening possible wider repercussions in the euro zone. The results of weekend polls in Greece and France, in which voters soundly rejected austerity measures, heightened the uncertainty of the path ahead for the [...]
A 300-point plus bull rout while the financial capital is gripped by horror is a strange decoupling of the bourse from vital fundamental indicators. Yet such has been KSE’s stellar post-Jan rise, unimpressed by exogenous shocks that would normally derail financial markets – bomb blasts, plane crashes, PM’s contempt drama, memogate, war on terror, etc.Signals, [...]
DUBAI/CAIRO: Saudi shares retreated on Monday after a call by the king for a crackdown against market manipulation spooked investors, and Egypt’s bourse fell to eight-week lows over top-level differences about the terms of an IMF loan. King Abdullah has ordered the crackdown, insisting action should be taken if necessary against improper trading, the daily [...]
MOSCOW: Russian grain and sugar producer Razgulay aims to lower its debt this year by selling new shares and non-core assets to turn around a loss making business, its new chief executive told Reuters in an interview. Mikhail Galuev also said the group’s capital spending would halve this year to 1.5 billion roubles ($51 million), [...]
NEW YORK: US stocks closed lower but off earlier steep losses Monday as Wall Street focused on European political and economic uncertainty and some US earnings results missed expectations. The Dow Jones Industrial Average sank 102.09 points (0.78 percent) to finish the trading session at 12,927.17.The broad S&P 500-stock index dropped 11.59 (0.84 percent) to [...]
London: Oil dipped towards $120 on Monday as renewed worries about the eurozone triggered by Spanish debt problems and concerns about slower growth in China prompted a pull back in investor risk appetite. Brent crude futures were down $1.16 to $120.05 a barrel by 1010 GMT, after earlier falling below the key $120 level and [...]
ISLAMABAD: The Central Directorate of National Savings (CDNS) is all set to achieve current fiscal saving target of Rs.187 billion as it has collected Rs.135 billion till the end of February this year. While talking exclusively to “Media” here on Wednesday Director General(DG) of the organization Zafar M. Sheikh said that he was hopeful that [...]
The recent oil price drama – steep rise, angry protest, marginal correction – was amusing, to say the least. Ditto for the fortnightly check. The simple fact of the market is that oil will remain elevated for at least the foreseeable future. And considering our overwhelming reliance on imported energy, domestic prices will also keep [...]
