Latest news Nine international companies and consortia have reportedly shown interest in the 3G spectrum auction that is scheduled for Feb 24’13. These companies are from the UK, Germany and Middle East. BAHL and SSGC have been added to the MSCI Frontier Markets Small Cap Index while SHEL has been deleted, effective from Nov 26’13. In related news, MSCI will reclassify the MSCI Morocco Index from Emerging Markets to Frontier Markets in Nov’13, while the MSCI Qatar and MSCI UAE Indices will be reclassified from Frontier Markets to Emerging Markets in May’14. According to the government’s winter gas load management program, gas supply to industries, the CNG sector and fertilizer manufacturers will remain suspended during Jan’14 and Feb’14. With respect to fertilizers, the suspension will be likely be only on the Sui network (FFBL, DAWH, AGL, Pak-Arab). The National Accountability Bureau (NAB) has reportedly started a probe into the award of LNG import to Engro’s subsidiary – Elengy Terminal Pakistan Ltd. Pakistan and UAE have agreed to establish a joint business council to enhance trade and economic cooperation. Foreign exchange reserves of the country have increased by US$12.6mn to US$9.51bn. reserves held by the SBP fell by US$74.9mn to US$4.2bn.
Posted on: Fri, 08 Nov 2013 09:13:13 +0000
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