Deals by foreign lenders’ Kenya offices hit Sh511bn
Friday December 25 2020
Foreign banks’ representative offices in Kenya recorded 32 percent increase in the volume of business transacted in the country last year compared to 2018. FILE PHOTO | AFP
By CHARLES MWANIKI
Summary
Data from the Central Bank of Kenya’s annual banking sector report for 2019 shows that the offices transacted $4.67 billion (Sh511 billion) deals from $3.51 billion (Sh384.13 billion) in 2018.
The increase was higher than that recorded between 2017 and 2018, when the value of the deals went up by 18.4 percent.
There were nine such offices in Kenya as at the end of last year, carrying out research, marketing and liaison roles.
PSX Announces Top 25 Companies of 2019
Pakistan Stock Exchange (PSX) has announced the recipients of the Top 25 Companies Awards for the year 2019.
The Top 25 Companies Award tradition at PSX goes back to 1978. The best performing listed companies in Pakistan are awarded this distinction. A general definition for ‘well-performing’ may be understood as companies that have outperformed others by the parameters of corporate governance and financial performance, and added value to shareholders based on certain specific quantitative criteria, amongst other factors, make it to the Top 25 Companies List.
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This year’s parameters were also re-defined to suit the current times. As per tradition and in line with the evolving business landscape in the country, the criteria for selecting such companies were also updated and upgraded in 2019. The prerequisites to be included in the list for this year were:
FFCL leads PSX’s Top 25 Companies Award 2019
Business
December 22, 2020
KARACHI: Fauji Fertlizer Company Limited led the Pakistan Stocks Exchange’s Top 25 Companies Awards 2019, followed by Pakistan Oil Fields, and Nestle Pakistan, a statement said on Monday.
As per tradition, the criteria for selecting such companies was also updated and upgraded in 2019 in line with the evolving business environment and requirements, the PSX said.
For the said year, the pre-requisites included a minimum distribution of 30 percent (including at least 15 percent cash dividend), shares traded 50 percent of the total trading days during the year, and that the company is not in the Defaulters’ Segment of the Exchange or trading in its shares have not been suspended on account of violation of Listing Companies & Securities Regulations of the Exchange during the said year.
PM sees medium industry as engine of growth
Imran Khan lays stress on uplifting SMEs; says all economic indicators on positive trajectory
Prime Minister Imran Khan. PHOTO: RADIO PAKISTAN
ISLAMABAD:
Prime Minister Imran Khan on Thursday stressed on promotion of small and medium enterprises (SMEs) sector in the country, saying it is the main component of economy, the elevation of which would help create employment opportunities and improve financial conditions.
“The SMEs is a key constituent of the economy and its empowerment would help strengthen the economic outlook and create job opportunities,” PM Imran said while chairing a meeting of National Coordination Committee (NCC) on SMEs.
Market watch: KSE-100 rises 109 points in range bound session
Benchmark index gains 0.25% to settle at 43,360.19
Shares of 403 companies were traded. At the end of the day, 171 stocks closed higher. PHOTO: REUTERS
KARACHI:
Pakistan’s stock market saw muted activity on Wednesday as the KSE-100 index traded in a narrow range throughout the day and closed up by 109 points.
Though the selling pressure that emerged in final hours of trading a day ago seemed to be easing, still a handful of sectors closed with losses. Many stocks in automobile and cement sectors faced heavy sell-off.
Earlier, the day kicked off on a positive note, however, volatility emerged immediately afterwards and erased the gains. Strong investor sentiment managed to lift the index again but a lack of positive triggers capped gains.