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Economically weak Pakistan can’t have an independent foreign policy: Foreign Minister

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MMA

ISLAMABAD: While speaking at a seminar hosted here today by SDPI, Foreign Minister Khawaja Asif has said that economically weak Pakistan could not have an independent foreign policy.

He held that the time had come to review the US-centric policy of Pakistan: “China lives next to us and we have a common wall. Russia can also be our good friend”.

Harboring on the subject of trade with US, he said that Pakistan had to convert its diplomatic outpost to trade outpost.

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Business

Attenuation of political noise lets bulls enter the bourse on week’s last trading day!

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KARACHI: Court’s verdicts apropos Hudaibiya Paper Mills and Imran Khan lessened the political noise today encouraging bulls shoo the bears off the bourse.

Benchmark KSE-100 Index closed at 38,646 with an augmentation of 1.10% (422 points). Rs. Rs. 9.1b worth of 140m shares changed hands today. Value of the shares of 208 companies augmented, 100 plummeted while 30 remained stagnant.

Banking, Communication and Power Generation Sectors led the trade with trading of 22.5m, 21.0m and 12.2m shares respectively.

Today’s top five traders of stocks were: TRG Pak Ltd., 17.9m shares (+1.16pc); Pak Elektron, 11.3m shares (+3.18pc); Engro CorpXD, 7.2m shares (+3.98pc); K-Electric Ltd., 7.2m shares (+0.82pc); JS Bank Ltd., 4.16m shares (+6.54pc).

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Business

PSX: Bears color the bourse red emboldened by the political noise!

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KARACHI: Emboldened by the political noise bears kept on growling all over the bourse on week’s 4th trading day.

KSE-100 Index closed at 38,224 plummeting 1.54%  shedding 596 points.  Rs. 4.1b worth of 93m shares changed hands today. Value of the shares of 261 companies plunged, 59 augmented and 19 remained stagnant.

Technology, Communication, Power Generation and Cement Sectors led the trade today with 14m, 10.6m and 9.5m shares respectively.

Today’s top five traders of shares were: TRG Pak Ltd., 10.3m shares (-5.00pc); K-Electric Ltd., 8.3m shares (-4.39pc); Pak Elektron, 6.4m shares traded (-4.99pc);Dewan Cement, 3.7m shares (-6.53pc); Dewan Motors, 3.6m shares (-3.72pc).

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Economy

China did not halt payments on CPEC projects: FO!

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ISLAMABAD: Negating the reports that appeared in a section of Media (quoting Minister of P&D) that China was halting payments for three of the CPEC projects, Foreign Office (FO) said here today that there was no such news from Beijing.

It is pertinent to mention here the minister had informed the 25th parliamentary committee meeting on CPEC that Beijing was reviewing the fiscal method of these projects.

China would recommence work on them after receiving new guidelines from authorities.

Minister failed to convince the Committee that wanted to know why Beijing shunned the mutually agreed mechanism.

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