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FCCL appoints Imran Moid as the Director of Board

September 18, 2020 (MLN): Fauji Cement Company Limited has announced the resignation of Mr. Rehan Laiq from his position as Director of the FCCL Board with effect from September 7, 2020, and the appointment of Mr. Imran Moid as his replacement.

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Financial Business segment receives the highest net FDI in...

September 18, 2020 (MLN): The financial business has received the highest net FDI worth $61.5 million in August’20. During Jul-Aug FY21, it fetched a net $85.4 million, showing a six-fold increase when compared to the net inflows of $14 million in the corresponding period of FY20.

According to the latest data released by the State Bank of Pakistan (SBP) on total Foreign Investment received by sectors, the second sector with higher net flows in Pakistan is Oil and Gas Exploration. During the month of August’20, the sector received net inflows of $17.3 million, showing an increase of 2% compared with the net FDI of $17.0 million in July’20.

The sector showed substantial growth of 37% YoY during Jul-Aug FY21 as its net FDI was recorded at $34.3 million against the net inflows of $25.1 million in the aforementioned period.

The third-highest net FDI receiver is Communications with net inflows of $15.6 million in August’20. The telecommunication sector under the Communication head received the highest net $13.1 million worth of FDI during the month. However, the Communication sector witnessed a decline of 17% YoY to stand at $37.1 million during Jul-Aug FY21 when compared to the same period of FY20.

The next in line is the Electrical machinery sector, which recorded a net FDI of $7.1 million in August’20. The sector experienced a more than two-fold increase in net FDI to reach $36.5 million during Jul-Aug FY21 versus $15 million in the same period of FY20.

On the other hand, the Power sector which received net inflows of $12.2 million during July’20, has witnessed net disinvestment of $6.7 million in August’20.

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PSX carries out the re-composition exercise of KSE-100 index,...

September 18, 2020 (MLN): The Pakistan Stock Exchange has carried out the Re-Composition exercise of KSE-100 Index Companies for the review period from March 2020 to August 2020.

As per the notice sent in this regard by the PSX, Shahtaj Textile Limited, Gadoon Textile Mills Limited and Gatron (Industries) Limited have been included in the index.

On the other hand, Yousaf Weaving Mills Limited, Indus Dyeing & Manufacturing Co. Limited, and Ibrahim Fibers Limited have been ousted from the index.

The above changes in the KSE-100 index will be implemented w.e.f. Thursday, October 1, 2020.

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SBP to Conduct 7 Day OMO

September 18, 2020 (MLN): The State Bank of Pakistan (SBP) announced that it will conduct a 7 day OMO to inject funds into the market.

Quotes timing is: 10:30 PST while result will be announced at: 11:00 PST

Settlement is same day - September 18, 2020

 

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Foreign investment in Pakistan drops by 4% MoM in...

September 18, 2020 (MLN): Foreign investment during August’20 stood at 102 million dollars compared to a net inflow of 107.2 million dollars during July’20, showing a decrease of 4% MoM.

According to the monthly data compiled by the State Bank of Pakistan, the Foreign Private Investment into the country amounted to $109.3 million, out of which, $112 million was attributed to Direct Investments, whereas disinvestment of $3.1 million was attributed to Equity Securities i.e. a part of Portfolio Investments.

Within the Direct Investments, there was an inflow of $183 million and an outflow of $70.7 million during the month of August’20. 

On the other hand, there was disinvestment of $ 6.3 million in Foreign Public Investment, wherein the entire amount was attributed to Debt Securities.

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