S&P raises Pakistan rating to B-minus
Standard & Poor's raised Pakistan's sovereign rating by one notch to B-minus, citing improvements in its external liquidity and reduction in its fiscal deficit. The rating outlook is stable. The decision came a week after Moody's Investors Service raised its rating outlook for Pakistan to stable from negative and after the country received an increase in a loan from the International Monetary Fund (IMF).
Pakistan State Oil (PSO) buys oil at high premiums
Pakistan State Oil (PSO) bought 1.04 million tonnes of high-sulphur fuel oil (HSFO) for September-November delivery from Middle East oil traders FAL Oil and Bakri at higher premiums as against earlier deals, traders said Monday.
OGDC finds oil, gas in Sindh
The Sinjhoro Joint Venture, 76 per cent owned by the Oil and Gas Development Company (OGDC), has struck oil and gas at its Baloch Exploratory Well No.1 located in Sinjhoro Block in District Sanghar of Sindh province.
Credit Suisse hints KSE surge
As several analysts were hinting at Karachi Stock Exchange (KSE) breaching 10,000 levels towards the year-end, Credit Suisse also joined their school of thought Monday when they stated that Pakistan's stocks may rebound owing to falling inflation numbers and tripling of foreign exchange reserves.
Deutsche Bank sees recovery
Pakistan's exchange rate has stabilised and its foreign exchange reserves have started to climb again, said Dr Norbert Walter, Chief Economist for Deutsche Bank Group and CEO of Deutsche Bank Research Friday.