News Update: – 16th May 2020
According to the inside sources said in a statement that European Union representatives are planning to finalize a strategy for public stakes in major European companies to protect them from the economic consequences due to the COVID-19 prevalent.
While, they have been also discussing with the companies to have a mutual conclusion based on united action to support companies after plans to help troubled southern states become mired in conflict.
Furthermore, France also suggested that “equity fund, either to recapitalize or to acquire shares in strategic companies that need capital, especially for those operating in European strategic value chains”. However, according to a proposal submitted to the European Commission, one of the preferred options is to create a central “solvency support” scheme, funded by member states, to direct investments in companies that are systematically important and this plan is still in finalizing stage and soon will be imposed.
While, In Pakistan rupee raised against by 84 Paisa contraries to the US dollar on the interbank marketplace on Friday’s morning and closed at 160.10 rupees compared to the last closing at 160.94 rupees. However, according to the Pakistan Forex Association, the selling and buying prices of the dollar on the open market were recorded at Rs 160.5 and Rs 161.5 respectively.
In addition, Kamraj enterprises will advise to all stockholders and company owners that Pakistan Rupees is expected to raise a bit against dollar rate and it better to invest it astutely. As, the State Bank Of Pakistan reported that in the interbank the euro also fell by 1.33 rupees to 173.14 rupees. While British pound exchange rate of 2.06 rupees, which was traded at 195.47 rupees compared to its last close at 195.53 rupees.
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