PAKISTAN - The Pakistani prime minister Shaukat Aziz has come out in support of Credit Suisse, which announced plans to launch operations in the country.
Credit Suisse said it planned to open an office in Karachi, to focus on its equity research coverage of Pakistani companies and provide global investors with access to the Pakistan market.
Prime minister Shaukat Aziz, said: "'Credit Suisse is a world-class international financial institution. Their decision to establish an onshore footprint in Pakistan reflects great confidence in our continued growth and development."
Credit Suisse has been active in the Pakistani financial markets since the early nineties through its offices in London, Singapore and Hong Kong, and currently covers over 50 Pakistan stocks through its proprietary valuation framework, HOLT.
This announcement has followed expansion by the bank into Indonesia, Malaysia and the Philippines. Credit Suisse expects to launch operations towards the middle of 2007.
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.