January 18, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.
The United Arab Emirates (UAE) has confirmed the rollover of its two deposits of $1 billion each placed with the State Bank of Pakistan for another year which were maturing in January 2024. Read more
The State Bank of Pakistan (SBP) has received the second instalment of SDR 528 million, equivalent to $705.6m from the International Monetary Fund (IMF), the central bank said. Read more
Pakistan’s Power Sector received the highest net FDI worth $433.5 million in 1HFY24, followed by the Oil & Gas Exploration sector and Financial Businesses with net FDI of $129.79m and $91.05m, respectively. Read more
The Pakistani rupee (PKR) appreciated by 14.79 paisa against the US dollar in Wednesday's interbank session as the currency settled the trade at PKR 280.1 per USD, compared to the previous session's closing of PKR 280.25 per USD. Read more
The benchmark KSE-100 index closed Wednesday's trading session at 63,567.34 showing a decrease of 170.13 points or 0.27%. Read more
The production of petroleum products witnessed an increase of 6.49% YoY during the first five months of FY24, data issued by the Pakistan Bureau of Statistics (PBS) showed. Read more
Suhail Jute Mills Limited (PSX: SUHJ) has reported no progress in its land development plan aimed at addressing most of its liabilities during the current quarter (4QCY23) as investors are showing hesitancy due to economic and political uncertainties. Read more
The transition to a shorter settlement cycle of T+1 from the existing T+2 settlement cycle will add significantly towards further enhancing the efficiency of the securities market operations and lead to its alignment with the best practices. Read more
Domestic bullion market witnessed a significant downturn today amid a fall in international prices, as the price of 24-karat gold in Pakistan plummeted by Rs2,000 per tola to stand at Rs215,300. Read more
Pakistan LNG Limited (PLL), the state-owned company that procures Liquefied Natural Gas (LNG) and delivers Natural Gas to Pakistan has secured a second LNG cargo from the State Oil Company of the Azerbaijan Republic (SOCAR) under the Government-to-Government Framework Agreement between PLL and SOCAR. Read more
China emerged as the largest investor in Pakistan in 1HFY24, with a net direct investment of $292.8 million, followed by the HongKong and United Kingdom which invested $190.96m and $121.62m respectively. Read more
The import bill of the petroleum group clocked in at $7.35 billion in 1HFY24, marking a decline of 26.95% YoY compared to the import bill of $10.07bn recorded in 1HFY23. Read more
The country's total textile exports registered a decrease of 4.19% MoM to $1.32bn in December 2023 compared to $1.37bn recorded in the previous month. Read more
To review the progress of delisting proceedings of Pak Suzuki Motor Company Limited (PSX: PSMC) and take appropriate actions, the emergent meeting of the Board of Directors is scheduled to be held on January 19, 2024. Read more
Foreign direct investment (FDI) in Pakistan surged by 60.7% MoM in December 2023 to clock in at $211.11 million compared to FDI $131.37m recorded in November 2023. Read more
The United States of America retained its position as the primary export destination for Pakistan during December FY24, with $449.09 million worth of shipments, down by 2.61% YoY against the exports of $461.14m in same period last year. Read more
Among Pakistan’s top trading partners, China remained the top source of imports for Pakistan during December FY24, followed by Saudi Arabia, U. A. E. Dubai, and Singapore. Read more
The Ministry of Finance will release an amount of Rs30 billion to Pakistan State Oil Company Limited (PSX: PSO) during this week, according to sources. Read more
Foreign currency deposits during December 2023 stood at $6.38 billion, depicting an increase of 0.71% MoM. Read more
With an estimated investment of $10 billion over the next 8–9 years, the Reko Diq project is poised to transform the regional economy. Read more
The service sector of Pakistan posed a trade deficit of $155 million in December, reflecting a decline of 31.42% MoM, as compared to a deficit of $226m recorded in the previous month. Read more
Pakistan has recorded a current account surplus of $397 million largely due to a decline in imports and an increase in exports. Read more
The Securities and Exchange Commission of Pakistan has issued the Certificate of Incorporation to Faysal Islami Currency Exchange Company (Private) Limited. Read more
Pak Rupee's Real Effective Exchange Rate Index (REER) increased by 0.6% MoM in December 2023 to a provisional value of 98.86 from the revised value of 98.28 in November 2023. Read more
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Posted on: 2024-01-18T07:36:24+05:00
