05 September 2013, Inveslink-Stocks,. Technically side RSI & Momentum indicators has improved and the Stochastic Oscillator is also generating a buy signal, suggesting a short term upward correction is likely to continue but over all theme is still corrective. Support and resistance are at 21,683 and 22,050, respectively. INVESLINK CAPITAL (PVT) LTD NEWS: • IMF board approves $6.7 billion loan for Pakistan • The International Monetary Fund’s board on Wednesday approved a $6.7 billion loan package for Pakistan to help the nation revive its ailing economy. Dawn • 50 megawatts wind power plant: Olson signs 10-year $95 million loan to Sapphire Company • US Ambassador Richard Olson on Wednesday on behalf of the Overseas Private Investment Corporation (OPIC) signed a $95 million [over Rs 9.96 billion], 10-year loan to Sapphire Wind Power Company to build a 50-megawatt (MW) wind power plant in the Ghoro-Keti Bandar wind corridor near Jhimpir in Sindh. BR • 150MMCFD decrease in gas supply to KESC • Karachi Electric Supply Company has expressed great concern over the sudden decrease in gas supply to 150 MMCFD by SSGC to its power plants, as they are affecting the generation capacity. KESC has appealed to the Federal Government to order restoration of the 220 MMCFD gas supply level in order to continue with the present reasonable plan of loadshedding in the city. BR • Pakistan slips to 133 on competitiveness ranking • At a time when the new government is striving to re-strengthen institutions, Pakistan has slipped down to 133 on competitiveness ranking among 148 countries reflecting weaknesses in its institutions and capacity of the economy to create space for innovation. Dawn • Wooing overseas Pakistani investors • The government is working on a plan to attract foreign direct investment (FDI) from wealthy Pakistanis abroad by facilitating creation of diaspora-focused venture capital and private equity funds in areas like information technology, automobile vending industry, medical equipment and services and hospitality sectors. Dawn Forex/ Arab Light crude oil (barrel) Gold (Ounce) PKR / US$ 104.88 Gold ($) 1385.00 Oil(WTI) 107.50
Posted on: Thu, 05 Sep 2013 06:22:29 +0000
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