MG Morning Breeze: Updates to Skim before Market

July 08, 2026 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• China's property slump shows no sign of bottoming out

China's residential property market continued its downward trajectory through the first half of 2026, with home prices falling further as prospective buyers held off on purchases in anticipation of steeper declines ahead, leaving both sales volumes and prices in retreat with little indication of an imminent turnaround. Read more

• UAE ranks 6th in Global Muslim Travel Index

The 11th edition of the Global Muslim Travel Index (GMTI), released by Mastercard and CrescentRating, highlighted the growing role of artificial intelligence (AI), digital trust, regional mobility and destination readiness in shaping Muslim-friendly travel, according to WAM. Read more

• AI chip demand drives Samsung profit up 19x

Samsung Electronics is on track to post the strongest quarterly results in its history, with operating profit expected to surge nearly 19x on the back of soaring demand for AI memory chips. Read more

• Shaza Fatima calls for inclusive AI safety standards

Artificial intelligence systems must be developed and deployed in full compliance with international law and the UN Charter, with meaningful human oversight maintained in both civilian and security applications. Read more

• China pushes biomedicine, water network development

Chinese Vice Premier Liu Guozhong has called for efforts to promote the innovative development of biomedicine and agricultural machinery and equipment, while accelerating the construction of a modern water network. Read more

• Brokers see modest EPS boost for banks on SBP's removal of MDR floor above Rs10m

The State Bank of Pakistan (SBP) has removed the Minimum Deposit Rate (MDR) floor on high-value savings deposits, prompting Pakistan's leading brokerages to issue same-day research notes on July 7, 2026, assessing the earnings impact on listed banks. Read more

• Gold holds cautious tone before fed

Gold prices edged lower on Tuesday, pulling back from a two-week peak as investors adopted a cautious stance ahead of the release of the U.S. Federal Reserve's June policy meeting minutes, which are expected to provide fresh insight into the central bank's interest rate outlook under Chair Kevin Warsh. Read more

• PKR holds ground against USD

The Pakistani rupee remained broadly stable against the US dollar in Tuesday's interbank trading, posting a marginal gain of 0.77 paisa to close at PKR 278.15 per USD, compared with the previous session's close of PKR 278.16. Read more

• Brent climbs as Strait of Hormuz tensions spark fresh fears

The calm waters of the Strait of Hormuz have once again sent shockwaves through global oil markets. Read more

• PSX Closing Bell: Misses the Finish Line

The benchmark KSE-100 Index concluded Tuesday's trading session at 186,255.55, posting a decline of 1,199.14 points, or 0.64%, as investors resorted to profit-taking following the previous session's strong rally, while weakness in heavyweight oil, cement, fertilizer, and banking stocks weighed on the benchmark. Read more

• Toy parcels conceal Rs366m Marijuana consignment

A routine scan at Karachi's International Mail Office uncovered what appeared to be ordinary toy shipments from Thailand, but inside the parcels, customs officials found 12 kilograms of marijuana worth an estimated Rs366.2 million. Read more

• Pakistan, Kyrgyzstan agree to pursue strategic partnership

Pakistan and Kyrgyzstan have taken a significant step toward strengthening bilateral ties, agreeing to elevate their relationship into a strategic partnership with a renewed focus on trade, investment, energy, connectivity, and regional cooperation during President Asif Ali Zardari's four-day official visit to the Kyrgyz Republic. Read more

• Textile Asia Exhibition secures over $350m in business deals

Pakistan's textile industry received a major boost as the 32nd Textile Asia Exhibition concluded in Lahore with business agreements worth more than $350 million. Read more

• PM orders comprehensive SME financing strategy to unlock export growth

In a renewed push to unlock the potential of Pakistan's small businesses, Prime Minister Shehbaz Sharif has directed authorities to formulate a comprehensive strategy to improve small and medium enterprises' (SMEs) access to financing, describing the sector as a key driver of exports, employment, and economic growth. Read more

• Pakistan, Morocco eye stronger fertilizer partnership

Federal Minister for National Food Security and Research Rana Tanveer Hussain has reaffirmed the strategic importance of Pakistan's fertilizer partnership with Morocco, describing the Pakistan Maroc Phosphore (PMP) project as vital for ensuring the country's long-term food security. Read more

• Primus Markets partners with JR Dallas for Pakistan advisory, brokerage operations

Primus Markets has officially signed a Memorandum of Understanding (MoU) with JR Dallas Wealth Management, establishing a strategic technical affiliation between the two financial firms, Bloomberg News reported Read more

• Gold price in Pakistan falls Rs2,500 per tola

Gold price in Pakistan decreased on Tuesday, with 24-karat gold being sold at Rs434,936 per tola, down Rs2,500. Read more

• FM sets up SME finance task force to expand credit access

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has announced the establishment of a dedicated SME Finance Task Force to improve access to financing for small and medium enterprises (SMEs) and increase private-sector lending. Read more

• Listed firms raise Rs20bn through capital market in FY26: SECP

Pakistan’s capital market has strengthened its role as a financing platform, enabling listed companies to raise more than Rs20 billion during the financial year 2025-26, according to the Securities and Exchange Commission of Pakistan (SECP). Read more

• PSX reconstitutes JS Momentum Factor Index

The Pakistan Stock Exchange Limited (PSX) has completed the re-composition of the JS Momentum Factor Index (JSMFI) as of June 30, 2026, in accordance with the index rules. Read more

• Select Technologies IPO subscribed 1.73x

Select Technologies Limited's initial public offering was oversubscribed by 1.73 times, with investors placing bids for 38,433,500 ordinary shares against an issue size of 22,222,222 shares, according to a letter sent by book-running lead manager Arif Habib Limited to the Pakistan Stock Exchange (PSX) on Tuesday. Read more

• Salman Noman pursues loan restructuring for revival plan

Salman Noman Enterprises Limited (PSX: SANE) is working on a recovery plan as the company engages with lending banks to restructure and reschedule its outstanding loan facilities, according to its quarterly progress report submitted to the Pakistan Stock Exchange (PSX). Read more

• SG Power seeks sector reclassification to pharmaceuticals

SG Power Limited (PSX: SGPL) has completed formalities for increasing its authorised share capital from Rs200 million to Rs800 million, paving the way for the company to proceed with its proposed right issue, subject to regulatory and corporate approvals. Read more

• Engro Vopak, S&P Global begin LPG infrastructure feasibility study

Engro Vopak Terminal Limited (EVTL) has partnered with S&P Global Energy to conduct a feasibility study for expanding Pakistan’s LPG infrastructure, including the potential development of the country’s first refrigerated LPG import and storage facility. Read more

• Cashless Pakistan Initiative tops 2m active digital payment merchants

Pakistan's Cashless Pakistan initiative has achieved major milestones in its first year, with the number of active merchants accepting digital payments increasing fourfold to more than 2 million, according to a progress review chaired by Minister of State for Railways and Finance Bilal Azhar Kayani. Read more

• Saudi Arabia slashes August oil prices for Asia in biggest cut in decades

Saudi Arabia has implemented its largest oil price cut for Asian buyers in at least 26 years, signaling a strategic move to defend market share amid a weakening global market and rising supply. Read more

• FM begins early Budget 2027–28 consultations with PBC

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has initiated consultations for the Federal Budget 2027–28 by engaging members of the Pakistan Business Council (PBC) during his visit to Karachi. Read more

• NBP issues foreign exchange rates

The treasury management division of the National Bank of Pakistan (NBP) on Tuesday issued the following exchange rates. Read more

• Asia markets open lower; Dow hits record high

Asia markets traded mostly lower on Tuesday despite Wall Street's record-breaking rally overnight, while U.S. stock futures were mixed after the Dow Jones Industrial Average closed above the 53,000 mark for the first time. Read more

• Sindh High Court halts Quice Food-Indus Food merger process

Quice Food Industries (PSX:QUICE) has been restrained by the Sindh High Court from taking any further steps toward its proposed merger with Indus Food Products, following a petition filed by shareholders holding a combined 26.87% stake in the company. Read more

• Aurangzeb reaffirms commitment to Medium-Term Tax Strategy

The Government of Pakistan will stay the course on its reform agenda to strengthen macroeconomic stability, improve competitiveness, and support sustainable economic growth. Read more

• Govt appoints Muhammad Asad as MD of National Investment Trust

The federal government has appointed Muhammad Asad as Managing Director of National Investment Trust Limited (NITL), Pakistan's oldest and largest asset management company, for a three-year term, according to a Ministry of Finance notification dated July 6, 2026. Read more

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