Pakistan stocks close lower, rupee weakens

Updated 22 February 2013
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Pakistan stocks close lower, rupee weakens

KARACHI: Pakistan’s stock market closed lower after a correction in global stock markets.
The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.15 percent, or 26.05 points, lower at 17,921.02.
Telecom stocks like Pakistan Telecommunication Corporation, Telecard Ltd. and World Call Telecom rose after a court decision approved recently raised international call rates.
Profit taking was seen in cement and oil stocks, said Samar Iqbal at Topline Securities.
Pakistan Telecommunication Corporation rose 4.97 percent to 22.83 rupees and World Call Telecom was up 19.61 percent at 3.72 rupees.
The rupee ended weaker at 98.13/98.18 against the dollar, compared to Wednesday’s close of 98.04/98.09.
Overnight rates in the money market rose to 8.50 percent from Wednesday close of 7.25 percent.


UK health minister tells companies to stop warnings about Brexit

Updated 24 June 2018
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UK health minister tells companies to stop warnings about Brexit

  • Britain’s health minister Jeremy Hunt said on Sunday it was inappropriate for businesses like Airbus to issue warnings about moving jobs because of Brexit
  • Airbus on Friday issued its strongest warning yet over the impact of Britain’s departure from the EU, saying a withdrawal without a deal would force it to reconsider its long-term position and put thousands of British jobs at risk.

LONDON: Britain’s health minister Jeremy Hunt said on Sunday it was inappropriate for businesses like Airbus to issue warnings about moving jobs because of Brexit.
“It was completely inappropriate for businesses to be making these kinds of threats for one very simple reason — we are in an absolutely critical moment in the Brexit discussions and what that means is that we need to get behind Theresa May to deliver the best possible Brexit,” Hunt said told the BBC.
“The more that we undermine Theresa May the more likely we to end up with a fudge which will be absolute disaster for everyone.”
Airbus on Friday issued its strongest warning yet over the impact of Britain’s departure from the EU, saying a withdrawal without a deal would force it to reconsider its long-term position and put thousands of British jobs at risk.