5 most important things in the business right now

1. SECP registered 641 new companies in May 2016  

The Securities and Exchange Commission of Pakistan (SECP) registered 641 new companies in the month of May 2016 and witnessed an increase of 50 percent, when compared to the same period, last year.

2. MSCI upgradation triggers immense rally at PSX

Pakistan Stock Exchange (PSX) cruised past 39,000 on Thursday just a day after breaking the 38,000 mark.

3. Mitsubishi plans $600 mln compensation for four models over mileage cheat: Nikkei

Mitsubishi Motors Corp is planning to pay compensation of around $600 million to compensate owners of four minivehicles models where it overstated mileage readings, with each owner receiving 100,000 yen ($960).

4. Global oil majors look to shed refineries as crude prices rebound

Global oil majors Chevron Corp and Royal Dutch Shell Plc are putting small refineries on the auction block as they look to trim lower-margin assets in the face of headwinds from rising crude oil prices.

5. MSCI brush-off for China shares spells more pain for Hong Kong brokers

Hong Kong stock brokers’ year has gone from bad to worse after index provider MSCI decided not to add mainland Chinese shares to a benchmark indexed tracked by $1.5 trillion in global assets, dashing the hopes of a sector struggling with tumbling business.

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