VISIBILITY is considerably reduced as the dust storm envelops the city on Tuesday afternoon. Online
KARACHI: At least four people were killed and several others injured in multiple incidents, including the collapse of concrete structures, following a dust storm and drizzle in the city on Tuesday.
The dust storm hit the metropolis around 4.30pm under the influence of Cyclone Tauktae, after scorching weather conditions prevailed during the earlier part of the day. Power was cut in many parts of the city after the first drops of rain, while high-velocity winds also shook structures.
A woman and a man died when the roof of their home collapsed in Madina Colony. The area police said that 45-year-old Waheed and 55-year-old Salma died when the roof of their home in Dabba Colony near Habib Masjid collapsed. The bodies were taken to the Civil Hospital Karachi by area people.
MSCI decision to fuel inflows at PSX
Research firm upgrades Lucky Cement, adds TRG Pakistan in global indexes
As per the latest MSCI decision, Pakistan’s weight in MSCI Global Standard Indexes has improved to 0.023% compared to 0.016% earlier. PHOTO: FILE
KARACHI:
Morgan Stanley Capital International (MSCI) - which provides research-based indexes and analytics to global stock market investors - has conducted a semi-annual review to recompose its global indexes on Wednesday.
Accordingly, it has upgraded one Pakistani company to its emerging markets MSCI Global Standard Indexes from its MSCI Global Small Cap Indexes. Besides, it has added one new company from the country to its small cap indexes and deleted four companies in total from the two indexes, according to results of the May 2021 Semi-Annual Index Review.
KSE-100: Stocks extends winning streak; index up 231 points
May 7, 2021
Bullish momentum continued to rule the market sentiments at Pakistan Stock Exchange (PSX) as stock extended its winning streak into the third day owing to positive news-flow over resolution of long term IPP issue and government’s decision to renegotiate tariffs and tax issue with the IMF, lifted market sentiments.
On Thursday, the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,245.37 level after gaining over 301.76 points. However, the index clocked at 45,174.67 level by the closing bell after posting a 231 points gain.
During the session, investor sentiments were primarily buoyed by the news regarding the resolution of the long-awaited IPPs issue following the Economic Coordination Committee’s decision to pay the first tranche of outstanding dues of one set of IPPs, and further delay the payments of unpaid bills of another is discriminatory given that the government has sign
Funder lays claim to Broadsheet’s $29 million Pakistan award
Top Story
May 1, 2021
LONDON: The Broadsheet LLC is facing a legal claim from a Cayman Island hedge fund for almost the full amount of around $29 million award received from the Pakistan government.
A court in the Isle of Man has prevented the Broadsheet liquidator from distributing monies to Broadsheet’s creditors unless a decision is made on the application by the funder, according to court papers reviewed by The News and Geo. The hedge fund had provided funds to Broadsheet’s lawyers to finance arbitration proceedings against Pakistan at London High Court’s Financial Division.