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Today Important Business News July 08, 2015 Wednesday

Today Important Business News July 08, 2015 Wednesday:

ADB to disburse US$400mn for energy to Pakistan;
Sindh reduces sales tax on services to 14% from 15%;
Nawaz, Modi likely to meet on July 10, 2015;
NAB submits report to Supreme Court pertaining to a list of 150 mega corruption cases of three categories – financial, land grabbing and misutilization of powers;
Government decides not to withdraw 0.6% WHT on banking instruments of non-filers;
Report on stock market crash submitted;
Increase free float, SECP warns companies;
Government official says government may cancel KEL’s contract;
Crucial Ministry-KEL meeting postponed;
Banking deposits grow by 10%YoY in 1H2015

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Today Important Business News July 01, 2015 Wednesday.

Today Important Business News July 01, 2015 Wednesday: Read Details:

Happy New Financial Years 2015-2016;
Greece officially Defaults on US$ 1.7 Billion Payment to the IMF;
PM Nawaz Inaugurated Islamabad Expressway Signal Free Corridor;
London Police says purported confession statement by MQM leader not part of their record;
PM says infrastructure is government’s top priority;
PM says load shedding to end by 2017;
President signs Finance Act;
NFC award likely to be extended for one year;
Supreme Court seeks report from NAB on 50 mega scams;
ADB approves US$ 220 Million aid to rebuild infrastructure damaged in floods 2014;
FBR has provisionally collected Rs. 2.58 Trillion vs. revised target of Rs. 2.61 Trillion, a shortfall of Rs. 25 Billion;
Petroleum prices kept unchanged, government to take Rs. 2.5 Billion hit;
Sindh High Court issue notices to Sindh government, K-Electric over the heat wave deaths in Karachi;
OGRA slaps Rs17.8 Million Fine on five OMCs for not maintaining sufficient stocks of petroleum products;
Additional duty imposed on import of new localized auto parts of mini vans, sports utility vehicles and mini cargo vans;
Silkbank, Arif Habib enter underwriting arrangement;
Pakistan’s Privatization Commission will seek approval from the cabinet in two weeks to sell as much as 20% of State Life Insurance Corp. shares in the stock market by October, Chairman Mohammad Zubair says in an interview in Islamabad Monday.
Government in process of determining value of State Life * Govt to sell up to its 20% stake in Mari Petroleum by September. * Plans to sell its 40% stake in Kot Addu Power, or Kapco, either through stk mkt or to strategic investor by November; close to selecting financial adviser for Kapco. * Aims to complete National Power Construction shares sale in July.
Pakistan aims to complete stake sale in power distribution co. FESCO, national […]

Today Important Business News June 29, 2015 Monday.

Today Important Business News June 29, 2015 Monday: Read Details:

Engro Foods (EFOODS) brings foreign expert on board; sparks talk of stake sale to foreign buyer, launch of new product. EFOODS Target Rs 170, Buy on Dips;
NEPRA gives K-Electric (KEL) clean chit;
KSE to compensate investors hit by broker’s default;
SBP allows Silk Bank to issue Rs. 10 Billion Right Shares;
Europe rejects Greek bailout extension after referendum shock; Greece tries to defy history of capital controls doomed to fail;
China Central Bank cuts interest rates by 25bps to 4.85%;
IMF approves another US$ 506 Million tranche;
PM approves unused PSDP for three redundant power plants that will add 500MW electricity to national grid;
Government to recover all circular debt through consumer tariff;
FBR to remove major hurdle faced by gas companies collecting GIDC;
NEPRA approves Rs2.86/unit refund for April, but allows deduction of Rs0.76/unit GIDC;
OGRA objects to 4% margin for PSO on LNG import;
APTMA decides to shut down textile mills;
Contracts of over 600MT of Indian sugar cancelled due to increase in regulatory duty;
Meat gets pricier as demand soars;

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“Association For Investor’s Awareness” (AIA) is a Not-For-Profit-Organization Established in 1992 by Its Founder M. M. Hassan. AIA is endeavoring to Create a Saving and Investment Culture In Pakistan through Seminars, Webinars, Presentations, Lectures and Its E-Newsletter “LET’S TALK ABOUT INVESTING”. 

Today Important Business News June 26, 2015 Friday.

Today Important Business News June 26, 2015 Friday: Read Details:

Strong Rumors that Pace, FCSC, WTL are being takeover by a Group.
Government seeks British help over BBC claims on MQM;
Foreign Exchange reserves hit four-year high of US$18.2bn after SBP receives US$706mn from World Bank;
Cabinet body discusses power supply situation in Karachi and matters related to K-Electric (KEL); Ministry asks NEPRA to conduct audit and inquiry of KEL matters;
Minister says illegal changes were made in KEL’s sell-off deal, plans new contract with KEL;
Petition against KEL’s privatization filed in Supreme Court;
Government refuses to pay capacity charges to RPPs, agreement will be strictly on take-and-pay basis;
Power generation companies using HSD to charge sales tax up to 37% for the period Jan-Jun 2015;
Government to cut regulatory duty on furnace oil import to 2% from 7%;
Sindh High Court orders companies to deposit Rs. 15 Billion withheld under Workers Profit Participation Fund (WPPF);
CCP begins inquiry against Indus Motor (INDU) and Pak Suzuki (PSMC) into possible anti-competitive behavior;
NBP to disburse Rs. 15 Billion under PMYB loan scheme;

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“Association For Investor’s Awareness” (AIA) is a Not-For-Profit-Organization Established in 1992 by Its Founder M. M. Hassan. AIA is endeavoring to Create a Saving and Investment Culture In Pakistan through Seminars, Webinars, Presentations, Lectures and Its E-Newsletter “LET’S TALK ABOUT INVESTING”. 

Today Important Business News June 25, 2015 Thursday.

Today Important Business News June 25, 2015 Thursday: Read Details:

IMF likely to approve US$506mn tranche tomorrow;
Greece edges closer to default;
Pakistan saved US$ 3 Billion in FY15 due to decline in international oil prices;
Cut-off yields on T-bills rise by up to 15bps in latest auction;
Gold drops to over four-year low in Pakistan;
New Trade Policy framework to be unveiled next month;
NEPRA team coming to Karachi to ascertain the reasons behind current power crisis in Karachi and claims of K-Electric (KEL) with respect to investment; and
WAPDA seeking 117% hike in hydropower tariff.

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“Association For Investor’s Awareness” (AIA) is a Not-For-Profit-Organization Established in 1992 by Its Founder M. M. Hassan. AIA is endeavoring to Create a Saving and Investment Culture In Pakistan through Seminars, Webinars, Presentations, Lectures and Its E-Newsletter “LET’S TALK ABOUT INVESTING”. 

Today Important Business News June 24, 2015 Wednesday.

Today Important Business News June 24, 2015 Wednesday: Read Details:

FNEL has Launched Andriod App for KSE Investors to trade through Mobile;
National Assembly approves Finance Bill 2015;
Heavy Electrical Complex’s privatization cancelled;
Sindh asked to clear Rs. 60 Billion Power Dues;
SBP clears Barclays-HBL Merger;
Minister says no proposal to take over K-Electric (KEL);
NEPRA says Sindh High Court’s decision to provide Rs. 5.5 Billion relief to K-Electric (KEL) consumers;
SSGC scraps tender for 2nd LNG tolling terminal;
LPG prices raised by Rs. 5/kg;
Local steel manufacturers to increase prices from Jul 1st following increase in sales tax for the industry;
Government fails to resolve PSO-WAPDA price differential dues issue.

 

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“Association For Investor’s Awareness” (AIA) is a Not-For-Profit-Organization Established in 1992 by Its Founder M. M. Hassan. AIA is endeavoring to Create a Saving and Investment Culture In Pakistan through Seminars, Webinars, Presentations, Lectures and Its E-Newsletter “LET’S TALK ABOUT INVESTING”. 

 

Today Important Business News June 23, 2015 Tuesday.

Today Important Business News June 23, 2015 Tuesday: Read Details:

World Bank to release US$500 Million today;
Government targeting budget approval prior to IMF board’s Meeting;
Minister says government to take over K-Electric (KEL) if required, blames KEL for deaths in Karachi;
National Assembly to take up proposal today that seeks to tax telecom companies at 8% of their revenues;
Consumers to face higher power bills;
Agri credit disbursement up 31.4%YoY to Rs439.8 Billion in 11MFY15;
Ambiguity in 18th Amendment hurting investment in oil and gas sector;
Pakistan State Oil (PSO) seeking to import 840k tons of gasoline and fuel oil during Aug-Oct 2015;
Gas utilities’ dues against IPPs soar to Rs. 120 Billion.

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“Association For Investor’s Awareness” (AIA) is a Not-For-Profit-Organization Established in 1992 by Its Founder M. M. Hassan. AIA is endeavoring to Create a Saving and Investment Culture In Pakistan through Seminars, Webinars, Presentations, Lectures and Its E-Newsletter “LET’S TALK ABOUT INVESTING”. 

Today Important Business News June 22, 2015 Monday.

Today Important Business News June 22, 2015 Monday: Read Details:

Rs1-4/ Liter increase in petroleum product prices likely;
Apparel forum concerned over GSP Plus status;
Textile exports down 1.7%YoY in 11MFY15; down 2.9%YoY but up 3.7%MoM in May 2015;
Oil imports down 20.4%YoY in 11MFY15; down 31.3%YoY and 14.9%MoM in May 2015;
IMF board to meet on June 26th to approve US$ 506 Million Tranche;
World Bank agrees to one US$ 500 Million loan, delays other;
World Bank approves US$ 188 Million for improvement of Gudddu Barrage;
Hundreds banned including MPAs, MNAs, bureaucrats involved in corruption from leaving Pakistan;
SBP proposes

Cut in Super Tax for banking companies to 3% from 4%;
Super Tax to be applied for current accounting year;

Withdrawal of flat tax rate on banking companies; and

Tax rate to be brought down to similar rate which is applicable to other companies.

Power shortfall soars to 6,500 MW;
3G/4G unlikely to be completed;
Special body yet to finalize report on GIDC;
LSM grows by 2.9%YoY in 10MFY15, up 5%YoY in April 2015;
CGT on long-term holdings shelved for two years;
LPGAP slams increase in LPG prices;
Gas utilities and PSO likely to receive US$4-5/mmbtu margin on LNG imports;
National Bank of Pakistan (NBP) pays penalty for flaws in software screening

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“Association For Investor’s Awareness” (AIA) is a Not-For-Profit-Organization Established in 1992 by Its Founder M. M. Hassan. AIA is endeavoring to Create a Saving and Investment Culture In Pakistan through Seminars, Webinars, Presentations, Lectures and Its E-Newsletter “LET’S TALK ABOUT INVESTING”. 

Today Important Business News June 19, 2015 Friday

Today Important Business News June 19, 2015 Friday: Read Details:

AIA Webinar For Investor’s Awareness on June 20, 2015 (Saturday), Enlist at 0333-850-7474 More News:
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Government seeks to exempt capital gains, where holding period is more than four years;

World Bank, Pakistan sign US$ 500 Million Credit to support growth;
Foreign exchange reserves down US$ 2 Millin from last week to US$ 17.45 Billion;
Government announces relief, accepts numerous Senate recommendations including:

Cut in FED on aerated water,
Mutual funds to be not subjected to WWF,

6% WHT on all banking transactions to be not applicable on transactions below Rs. 50,000/-

Advance tax on PMEX cut to 0.05% from 0.1%,
Companies to be given option to distribute at least 40% of the profits or 50% of the paid-up capital in context of tax on undistributed reserves;

Chances of increase in regulatory duty on milk powder import drying up;
Local tyre makers concerned over proposed cut in duty;
Peshawar High Court stays the order to collect GIDC from industrial units and filling station in KPK;
Silkbank wins SBP nod for right share issue, gets exemption on meeting minimum capital requirement and capital adequacy ratio on June 30.

 

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“Association For Investor’s Awareness” (AIA) is a Not-For-Profit-Organization Established in 1992 by Its Founder M. M. Hassan. AIA is endeavoring to Create a Saving and Investment Culture In Pakistan through Seminars, Webinars, Presentations, Lectures and Its E-Newsletter “LET’S TALK ABOUT INVESTING”. 

AIA Webinar For Investor’s Awareness on June 20, 2015 (Saturday), Enlist at 0333-850-7474

Today Important Business News June 18, 2015 Thursday: Read Details:

AIA Webinar For Investor’s Awareness on June 20, 2015 (Saturday), Enlist at 0333-850-7474
Pakistan and Romania Have Great Potential of Bilateral Trade, Said Ambassador of Romania While meeting President AIA;
Senate asks government to withdraw FBR’s Powers to access Bank accounts and advance tax on banking transactions and also allow import of five year old cars;
Baluchistan announces Rs. 26 Billion deficit budget;
Government to provide 30% rebate to power defaulters, who agree to clear their outstanding bills next month;
ECC increases import duty on sugar to 40% from 20%;
Senate body remains divided over GIDC Bill;
May Current Account posts deficit of US$ 521 Million vs. April’s surplus of US$ 223 Million;
PIBs cut-off yields move up by up to 90bps;
Brokers, KSE members not on the same page; brokers say BoD hesitant to express views boldly to finance ministry;
APTMA slams raise in power tariff.

 

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“Association For Investor’s Awareness” (AIA) is a Not-For-Profit-Organization Established in 1992 by Its Founder M. M. Hassan. AIA is endeavoring to Create a Saving and Investment Culture In Pakistan through Seminars, Webinars, Presentations, Lectures and Its E-Newsletter “LET’S TALK ABOUT INVESTING”.