Islamic Finance

Pakistan gold prices fell down KARACHI: Gold rates in Pakistan fell on Wednesday in major bullion markets of the cities with a decrease in international market.

KMI gains 197.22pts; concerns over damage from floods remain KARACHI: The market is expected to remain range bound as the market is looking for positive triggers and concerns regarding the colossal damage to crops and infrastructure with diminished ability to seek foreign assistance poses questions about macroeconomic stability in months to come.

International Commodities Rates International Commodities Rates Cotton cents/lb 113.67 Crude Oil (WTI)$/bbl 88.69 Gold $/ozs 1,823.70 Copper Cent/pound 390.60 Wheat USD/bushel 704.50 Malaysian Palm Oil 996.00 Sugar NO. 11 cents/pound 28.12 As of Tuesday, September 14, 2011

PPL confirms seeking entry in E&P activities in Iran KARACHI: Pakistan Petroleum Limited (PPL) confirmed here on Wednesday that it is interested to make an entry into an Exploration and Production business activities in Iran, according to the notice sent to the Karachi Stock Exchange (KSE).

Allied Rental Modaraba declares Rs 2.30 cash dividend KARACHI: Allied Rental Modaraba (ARM) has declared a final cash dividend of Rs 2.30 per certificate, equivalent to 23 percent, mentioned in a notice issued by the company to Karachi Stock exchange on Monday.

Saudi Aramco, Total venture to raise $1 bln sukuk RIYADH: Saudi Aramco and France's Total are set to issue up to 3.75 billion Saudi riyals ($1 bln) in Islamic bonds, or sukuk, with final pricing expected by the end of the month, lead arrangers said on Tuesday.

Malaysia sells 4 bln rgt sukuk at avg 3.375 pct KUALA LUMPUR: Malaysia has sold 4 billion ringgit ($1.31 billion) in Islamic government bonds maturing in 2016 at an average yield of 3.375 percent, the central bank said on Wednesday.