Tag Archives: stock

Notification of promotions, the officers of PES’ suspended | Instant News


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Louis Mobile Food Market will be in your Community in Partnership with St. Louis. Louis Area Foodbank Listing for August 1 – 21 | Instant News

Louis Mobile Food Market will be in your Community in Partnership with St. Louis Area Foodbank Listing for August 1 – 21 | RiverBender.com


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Stocks jump 406 points on positive macro – Newspaper | Instant News

KARACHI: Stocks extended the second straight gain as the KSE-100 index added 406.11 points (1.06 percent) and settled at 38,627.27.

Apart from only two trading days left before the Eid holiday and being a rollover week for future contracts, people are throwing hearts into the wind and buying shares worth $ 1.21 million.

Mutual funds also add blue chips at attractive prices to their equity funds. Foreigners sell shares worth $ 2.67 million. Volume increased 37pc from the previous day to 394.3 million shares while trading value increased by 22pc to reach $ 97.3 million.

The market began on a firm note with an additional 158 points and rose to an intraday high of 480 points. The enthusiasm of investors built on the postponement of monetary policy until September was further fueled by the announcement of the SBP which had received $ 505.5 million from the World Bank.

Reports on technical assistance from the International Monetary Fund to free Pakistan from the gray list of the Financial Action Task Force are helping the market on its way to the top. In addition, satisfactory financial results from Habib Bank are seen as a sign of good news for banks where the performance of other major players is also expected to beat analysts’ predictions. UBL will announce the number on August 5th.

In addition, the continuous decline in the case and death of the new Covid-19 provides comfort for investors who believe that if there is no outbreak after Eid and Moharram, there will be a reason to fully open up economic activity.

Because the construction sector is in the spotlight, cement and steel are the main winners.

In the past, Power, Maple Leaf, Lucky, Cherat and DG Khan were the main determiners of the International Industry, International Steel; Mughal and Aisha at the last get a grade.

Refining is done well with National, Attock and Pakistan closed in the green.

Profit sales are mostly observed in exploration and production and fertilizer.

Published in Dawn, July 29, 2020


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Stocks close green for the fifth week – Newspapers | Instant News

KARACHI: The stock market extended its winning streak for the fifth week in a row with the KSE-100 index posting a 276 point increase and closing at 37,608.

It will rise higher but to retreat sharply on Thursday when the index drops 226 points and settles at 37,578. The index moved back in positive territory on the last trading day which eliminated investors’ concerns about the return of bears. Local exchanges follow in the footsteps of global equities reaching new highs as the world economy shows signs of recovery.

There are many positive things for PSX to continue to hold the rally. The sharp decline in Covid-19 new cases of infection and death and rapid recovery provides a government opportunity to ease intelligent locking. The growth of foreign exchange reserves; recording remittances; and some interest rate cuts by the SBP combined into 625 basis points help corporations reduce financial costs with benefits down to the bottom line.

All of that gives investors the confidence to re-enter the equity market. Growing participation was seen with a spike in volume that remained high as PSX returned to the pre-coronavirus trading hours. People who were the main sellers on Thursday who saw bears driving away bulls for a day were haunted by uncertainty over the post-Idul Fitri pandemic situation and the government’s response, the worst was the return of the lockdown. The results season has begun with Habib Bank announcing better-than-expected figures on Friday.

Foreigners continued to sell shares of $ 9.3 million which was far lower than the sale of $ 27.4 million in the previous week. Outflow was witnessed in commercial banks for $ 2.9 million and exploration and production for $ 1.7 million. On the domestic front, large purchases were reported by the company $ 7.3 million and stock insurance worth $ 7.0 million.

The average volume was settled at 413 million shares while the average value traded at $ 97 million. Analysts at Arif Habib Ltd. calculate positive sector-wise contributions coming from commercial banks, an increase of 253 points, power generation and distribution of 76 points, car assembler 31 points, textile composite 28 points, and technology and communication 17 points.

The index was dragged down by cement, down 60 points, oil and gas exploration companies 38 points, and chemistry 19 points. The wise main registrar is Habib Bank, up 128 points, MCB 64 points, Hub Power 58 points, Bank Al Habib 35 points, and Millat Tractors 31 points.

Looking ahead, investor sentiment may be dominated by short trading weeks due to the Eid holiday and future contract rollovers. That could lead to profit taking by short-term investors. However, market teachers believe that funds can continue to flow on the stock exchange because economic activity shows signs of awakening; prohibition of institutions to park money in the National Savings Scheme; rupee stability and increased flow of corporate financial results where positive surprises can send share prices higher.

Uncertainty over monetary policy was also lifted because at the end of the week, Bank Negara clarified that the next meeting would not end until September because policy rates had changed rapidly over the past few months.

Published in Dawn, July 26, 2020


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Federal, Sindh government urges to ensure water, electricity supply for all citizens of Karachi | Instant News

Participants in the protest organized by Shehri Awami Mahaz (SAM) have demanded the federal government and Sindh to cancel the privatization of K-Electric, close illegal hydrants operating in Karachi, and provide basic electricity and safe drinking water for the residents.

As part of its first protest, announced by SAM, a recent alliance of labor, human and social rights groups in Karachi, held a protest at Singer Chowrangi in the Korangi Industrial Zone on Monday, where participants criticized the utility electricity and water supply. for their failure to ensure an uninterrupted supply of basic facilities.

SAM will arrange the next protest at Sher Shah Chowk in West District today afternoon. Zehra Khan and Rehmat Ali, two known trade union leaders, led a large number of protesters, including people from the workers’ settlement. Protesters hold banners and placards against power cuts and water theft and chant slogans against the electricity and water mafia.

Rehmat Ali said the city’s first big problem now was drinking water shortages. “Factories in the Korangi industrial area have taken hundreds of illegal connections from waterways provided to residents of the suburbs of Karachi, especially Sharafi Goth, which greatly affect water supply to this residential area,” he said, adding that the elected city representative did not solve the problem for their own benefit. Their attitude towards people is very embarrassing while factory owners also threaten if there are complaints or protests against water theft, he said.

Comrade Gul Rehman, chairman of the Workers’ Rights Movement, said another major problem in these areas was the power outage without prior notice. “Workers in this area don’t have electricity for 10 to 12 hours because people suffer mental anguish and lose their jobs.”

Khan, who is the secretary general of the Home Workers Women’s Federation, said that under a carefully thought out plan, working class settlements were short of electricity and water.

Shabbir Khaskheli, leader of the Chashma Goth Welfare Society, said that drains in Chashma Goth and other areas had been laid, but the water did not flow mainly due to illegal connections to the main water pipes. He said there were hundreds of buffalo pens near the main water channel which had hundreds of illegal connections that prevented water from reaching residential areas.

Abdul Basit Jagrani, a leader of Garment Textile, General Workers Union, said that despite severe cargo terminations, complaints about overpayment were common. When unemployment is at an alarming stage, rising electricity prices speak volumes about the indifference of the authorities.


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Blessing Boxes help provide free food to the community | Instant News

If you’ve ever seen a tall red box in your neighborhood and are wondering what it is – it’s a blessing box.

English teacher, Maygan Orr, uses her birthday money to build and place it in the Inglewood, CA neighborhood.

“I think that’s important,” Orr said. “Especially now with a pandemic for families to ensure that they know they can come and they can get food.”

It’s not just food that doesn’t rot easily in a blessing box. People leave masks, gloves and sometimes even blankets. Orr also put up a sign to remind people to be safe when using the box.

“We know that there are people who go into the box every day to donate food or take food,” Orr said. “So, we want to ensure that citizens can do this safely without endangering their health.”

Orr assigned Tavackus Dawson, founder of a non-profit organization Hurt Help Group, to build and place blessing boxes in Inglewood. Dawson has built and placed one in Los Angeles and Orr is inspiring to get one for his community.

“To have this here, this food, someone to reach out to them and let them know, you know, I understand what you are going through,” Dawson said. “I feel your pain and you know we are here for you as a community. I just want everyone to know that we are responsible for each other.”

Orr said he got permission from the owner of Hillcrest Oil before he put the box on their property in April. The owner, Simon Farahdel, said he was happy to place the box on his property.

“Inglewood is changing and we want to give back to the community,” Farahdel said. “So when the blessing box came to us and asked us to put it on our property, we thought it was a good idea.”

This is the first Inglewood Blessing Box, but after seeing the community’s response to this one, the group has talked about placing more around the city and surrounding communities.

“With this pandemic and all the uncertainties, I just want to make sure everyone in Inglewood has access to food,” Orr said.


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Stocks rose because housing subsidies put cement in the spotlight | Instant News

Stocks made progress Monday with cement companies stealing attention, following news of the construction sector subsidies, which strengthened bets on strong earnings in the cyclic and allied industries in the upcoming yield season, dealers said.

Benchmark Pakistan Stock Exchange (PSX) KSE-100 stock index rose 1.18 percent or 428.16 points to close at 36,618.57 points, while KSE-30 reached the highest level of 1.32 percent or 207.34 points to end at level of 15,901.05 points.

Topline Securities in a note said, “Taking the cue from the rise in international markets and international oil prices, the market opened on a positive note making an intraday high of 531 points.

Cement and steel remained in the spotlight during the announcement of the Rs30 billion subsidy for Pakistan’s Naya Housing Scheme and reported that the Prime Minister was scheduled to visit the Diamer-Basha dam site to review project progress, lead the CHCC, DGKC, and MUGHAL to close at each other’s top circuits, broker added.

Of the 403 active scripts, 236 rose, 151 retreated, and 16 remained unchanged, while volume swelled to 468,906 million large shares, compared with 292,709 million shares in the previous session.

Saad Rafi, head of equity sales at Al Habib Capital Markets, said, “Expecting higher demand from cement and steel, the benchmark index maintains upward momentum”. “Prime Minister Imran Khan is expected to announce the start of Basha Dam to further accelerate the steps of these groups.”

Rafi said financial results will start flowing from next week where select purchases are likely to be recorded in the sector. Tahir Abbas, research director at Arif Habib Limited, said, “Cement and steel stocks led the positive column after the government announced a construction package, helping to lift economic activity together with the sale of these sectors and allies”.

Over the weekend Prime Minister Imran Khan revealed plans to build around 100,000 homes, which played an important role in maintaining the green zone market for nearly 12 sessions, Abbas added.

Salman Ahmad, head of institutional sales at Aba Ali Habib Securities, said, “Many positive developments helped market trading in the plus zone and entered the third week”. Stocks rose after the announcement of the construction package, Abu Dhabi’s commitment to postpone the amount of loans to Pakistan, the stability of crude oil prices, and the historic rise in remittances despite COVID19, Ahmad added.

Fahad Rauf, deputy head of research at Ismail Iqbal Securities, said, “The buying action continued at PSX following the Prime Minister’s announcement of housing initiatives over the weekend and as a result cement stocks reached 31 percent of all trading volumes”. Worker remittances increased 51 percent year-on-year in June 2020 to $ 2.46 billion, while cement contributed most to the index increase, cumulatively adding 161 points, Rauf added.

Rafhan Maize, earning Rs345 to close at Rs7,470 / share, and Indus Motor Company, securing Rs52.76 to end at Rs1,191.14 / share, was the highest gainers, while Island Textile, losing Rs107.97 to closing at Rs1 , 331.69 / share, and Premier Sugar, spilling Rs45.77 until it closed at Rs564.56 / share, appearing as the main loser.

Maple Leaf posted the highest volume with 76,450 million shares, gaining Rs1.5 to end at Rs30.78 / share, while the Cement Board recorded the lowest turnover with 8.794 million shares and rising Rs0.51 to end at Rs8.81 / share.


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Zozo Japan, Forward to tie as COVID-19 hits fashion sales – Nikkei | Instant News

PHOTO FILE: The Zozo logo, which operates the popular Japanese fashion shopping site Zozotown and officially called Start Today Co., was portrayed at an event that debuted its formal clothing items, in Tokyo, Japan, July 3, 2018. Photos taken on July 3, 2018. REUTERS / Kim Kyung-Hoon

TOKYO (Reuters) – Japanese online fashion retailer Zozo Inc. (3092.T) and the clothing group Onward Holdings Co. (8016.T) plans to tie clothes made specifically to help each other survive the slump in sales caused by the COVID-19 pandemic, Nikkei said on Sunday.

Zozo, Japan’s largest online fashion mall, will offer Onward’s body size data to one million customers, the business daily reported, without citing sources.

Zozo and Onward could not be immediately contacted for comment outside working hours on Sunday.

Clothing makers such as Onward struggled with poor sales from store closures linked to a pandemic and weak consumer spending. Rival Renown Inc. filed for bankruptcy protection in May.

Onward, which sells clothing with brands such as Kumikyoku, relies heavily on sales at Japanese department stores, which mostly reopened at the end of May but are still grappling with a decrease in the number of customers amid fears of persistent infection.

Last year Zozo was taken over by Yahoo Japan Corp, now named Z Holdings Corp (4689.T), after Zozo made an expensive robbery into a bespoke fashion service that brought a little new business and costed a lot of money.

Zozo was also hit by the departure of many brands that set up their own e-commerce sites instead of relying on the company’s infrastructure. Onward is one of the retailers who left the site in 2018.

Nikkei said Onward plans to start selling 28 types of business clothing, such as jackets and dresses, starting in August using Zozo data, which aims to increase annual sales to 10 billion yen ($ 94 million) in five years.

Zozo was founded by billionaire Yusaku Maezawa whose plans to fly across the moon as the first private passenger on the SpaceX mission Elon Musk have helped spread the name of Zozo globally.

Reporting by Ritsuko Ando and Yuka Obayashi; Editing by William Mallard


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Woolworths Australia rewards more than 100,000 staff with shares for the virus effort | Instant News

FILE PHOTOS: Buyers walk to the Woolworths supermarket in Sydney, Australia 22 August 2017. REUTERS / Jason Reed / File Photo

(Reuters) – Australia’s largest supermarket chain, Woolworths Group said on Tuesday that they will reward more than 100,000 staff with free company shares for their efforts during a period of turmoil amid forest fires and the hustle and bustle of coronaviruses.

The company said it would give full-time employees up to A $ 750 ($ 510) each to save or sell, while part-time staff would get pro-rated shares. Regular staff will get cash bonuses or store discounts.

The move reflects the big role – and sales receipts – from grocery stores around the world as governments race to close restaurants, pubs and most other public meeting places to slow the spread of the new corona virus in March.

This also happened after several leading Australian companies, including Woolworths, faced strong criticism recently after acknowledging low-paid workers. Woolworths said last October that it had paid thousands of its supermarket staff up to A $ 300 million over the years, prompting a government agency to say it would investigate the company.

When the outbreak began to spread, Australians filled shopping carts with non-durable items such as toilet paper, dry pasta and disinfectants to the point where the prime minister went to television to ask the country to “stop stockpiling”.

When airlines, discretionary retailers, and casinos lay off tens of thousands of staff, rivals Woolworths and No. 2 Coles Group Ltd must recruit people to refill shelves and take “social distance” measures such as installing protective screens.

Before the virus, in the southern summer months of December and January, giant Australian grocery stores opened shops even though many of their staff were affected by forest fires that ripped through the southeastern part of the country.

($ 1 = 1.4708 Australian dollars)

Reporting by Nikhil Kurian Nainan; Additional reporting by Shruti Sonal in Bengaluru; Editing by Byron Kaye and Muralikumar Anantharaman


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Reviewed: Why Fashion Girls Love Folklore | Instant News

What inspired you to start your business?

My bachelor experience inspired me to start The Folklore. While attending Rutgers, I majored in African-American and African Studies. Before I started the program, I had never been exposed to much of Black’s literature, art, and innovation. Many of the people I learned the most during college – James Baldwin, W.E.B. Du Bois, Zora Neale Hurston – all of them produced work that had an impact and pushed Black’s social, economic and political agenda forward. I then decided that I would dedicate all my careers to serving the same goal.

Having had experience in the fashion media space and in e-commerce, I knew I could build a platform that would give African designers the ability to further monetize their brands by attracting the attention of a global audience. Fashion is a major income driver in countries around the world – it employs so many people. I want to start a business that can leave such an impact on the black and brown community.

How does the influence of social easing and ordering at home affect your business? How have your priorities changed?

The command to keep my distance and stay at home greatly affected my business. I am in the middle of increasing our pre-seed round right when the order is placed. Many of the investors I spoke to told them that they had to focus their attention on their current portfolio companies before they could return to conversations with me. It was difficult because I was sure that I would raise money in the spring.

Instead of being discouraged, I decided to change my efforts to restructure our finances and business models to fit our current financial position and our deep sales decline. I moved our product out of our room in NYC and took it home to New Jersey so I could send orders without leaving my home. I cut more than a dozen $ 10 and $ 15 monthly subscriptions and lowered my costs to a minimum.

After figuring out our new financial plan, we are connected to more than 30 designer brands where we work. We check to see how their performance, how COVID-19 affects their business, and how we can help. We went from being an e-commerce channel to being a source of immediate support. We are holding a virtual fashion conference with a number of our fashion designers and editors from Condé Nast to raise funds for African-based brands affected by COVID-19.

We are now making plans to offer more business services that will allow brands to create their own online direct-to-consumer business instead of relying only on multi-brand retailers. We also partner with others in the industry to build a nonprofit organization that can continue to help these brands long after orders are revoked.


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