MG Morning Breeze: Updates to Skim before Marke

November 25, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Weekly Outlook: Gold to rise if global tensions escalate

The US economy is doing well overall, according to recent data, which points to improved performance this month. Read more

• SIH privatization concludes with multi-party agreement

The sale of the Services International Hotel, Lahore (SIH), was successfully finalized yesterday with the signing of a sale agreement at the Privatisation. Read more

• Key Pakistan Market Stats and Economic Indicators

Market Data and Economic Indicators. Read more

• SBP revises SGF for IBIs

In a bid to strengthen the Shariah Governance Framework (SGF) and align it with international best practices. Read more

• SBP to issue Rs55 commemorative coin on 555th Jayanti of Baba Guru Nanak Dev Ji

On the auspicious occasion of the 555th Jayanti of Guru Nanak Dev Ji, the Federal Government. Read more

• KSE-100 Index is headed for best year in 21 years

Pakistan’s benchmark stock index has surged by most in over two decades in 2024 on signs of improvement in the nation’s economy. Read more

• Weekly Market Roundup

Pakistan stocks extended their record-breaking run to close in on the historic 100,000 mark, buoyed by improving economic conditions and falling bond yields. Read more

• Saudi Riyal to PKR exchange rate

The exchange rates for the Saudi Riyal (SAR), UAE Dirham (AED), and Qatari Riyal (QAR) showed minor movements against the Pakistani rupee (PKR). Read more

• Strong competition framework crucial for investment: Ishaq Dar

The Deputy Prime Minister and Federal Minister for Foreign Affairs, Ishaq Dar stressed that a robust competition framework is vital for economic growth. Read more

• PSX Closing Bell: So Close, Yet So Far

Pakistan’s benchmark stock index flirted with the historic 100,000 mark as investors continued to pile into stocks amid positive macroeconomic indicators. Read more

• Belarus President to Visit Pakistan from November 25-27

At the invitation of Prime Minister Muhammad Shehbaz Sharif, President of the Republic of Belarus Aleksandr Lukashenko will undertake an official visit. Read more

• PKR gains 20 paisa against USD

The Pakistani rupee (PKR) rose by 19.99 paisa or 0.07% against the US dollar in Friday’s interbank session to settle the trade at PKR 277.76 per USD. Read more

• Minister reviews quarterly trade figures, future trade strategy

Federal Minister for Commerce, Jam Kamal Khan on Friday reviewed quarterly trade figures and stressed to execution of the ‘Export-Led Growth Strategy.’ Read more

• PSX investors to pay CGT for Oct on Nov 29, 2024: NCCPL

The aggregate amount of Capital Gain Tax (CGT) arising on the disposal of shares at the Pakistan Stock Exchange (PSX) for the period from October 1, 2024. Read more

• HCAR’s profit plunges 62% amid rising costs

Honda Atlas Cars (Pakistan) Limited (PSX: HCAR) revealed its profitability, wherein the profit after tax clocked in at Rs257.74 million [EPS: Rs1.8]. Read more

• OMO Result: SBP injects Rs2.38tr

The State Bank of Pakistan (SBP) conducted a reverse repo and Shariah Compliant Modarabah based Open Market Operation (OMO) today. Read more

• Gold price in Pakistan rises further by Rs2,500

Gold price in Pakistan increased on Friday, extending its rebound after Goldman Sachs Group Inc. reiterated a forecast for international prices to reach $3,000. Read more

• Banking sector spread falls 379bps in Oct

The banking sector spread decreased by 379 basis points to 501bps in October 2024 compared to a spread of 880bps last month as the lending rate fell. Read more

• Weekly inflation rises 0.67%

Pakistan’s short-term inflation increased by 0.67% compared to last week as of November 21, 2024, while it rose 4.92% over the prior year. Read more

• Consortium withdraws PAI to acquire 68.89% in Engro Powergen

The consortium involving textile giants has withdrawn its Public Announcement of Intention (PAI) to acquire approximately 68.89% of the shareholding in Engro Po Read more

• PM awards Rs5m to FBR officer for exposing trillions in tax fraud

Prime Minister Shehbaz Sharif on Thursday announced a Rs5 million award and presented a commendatory shield to an FBR officer Ijaz Hussain who identified. Read more

• Adani shares drop almost 30% in two days on US charges

Most shares and dollar bonds of Adani Group companies traded lower on Friday, extending declines driven by US prosecutors’ charges of bribery against founder. Read more

• Ishaq Dar reviews ERRA-NDMA merger at 15th council meeting

The strategic merger of the Earthquake Reconstruction and Rehabilitation Authority (ERRA) and the National Disaster Management Authority (NDMA) was reviewed. Read more

• Swedish firms in Pakistan struggling with tax, energy, currency issues

The Ambassador of Sweden Alexandra Berg von Linde, while commenting on Sweden-Pakistan trade and investment ties, stated that more than 40 Swedish companies. Read more

• IPO-Pakistan, WIPO conclude consultative sessions on IP strategy

The Intellectual Property Organization of Pakistan (IPO-Pakistan) in collaboration with the World Intellectual Property Organization (WIPO) successfully. Read more

• Pakistan’s surprise solar boom: Report

Pakistan’s dusty agricultural heartland now hosts rows upon rows of solar panels, with solar equipment imports from China in 9M2024 surpassing all of 2023. Read more

• SECP rejoins IOPS as governing member to strengthen pension sector reforms

The Securities and Exchange Commission of Pakistan (SECP) has re-joined the International Organization of Pension Supervisors (IOPS). Read more

• RTO Islamabad seals five restaurants for issuing fake receipts

The Regional Tax Office, Islamabad on Thursday sealed five prominent restaurants in Islamabad on account of issuing fake invoices/receipts. Read more

• NBP issues foreign exchange rates

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

• KSE-100 Index flirts with 100,000

Pakistan’s benchmark stock index inched closer to the historic 100,000 mark as investors continued to pile into stocks amid positive macroeconomic indicators. Read more

• SIFC to tackle key challenges of Petroleum, Power

The Executive Committee of the Special Investment Facilitation Council (SIFC) will convene today. Read more

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