MG Morning Breeze: Updates to Skim before Market

March 19, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• SBP keeps interest rate unchanged at 22%

The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) on Monday decided to keep the policy rate unchanged at 22% for the sixth consecutive meeting. Read more

• Gold price in Pakistan drops Rs600 per tola

The domestic bullion continued upon its losses incurred in the previous session as the price of 24-karat gold dropped by Rs600 to Rs226,900 per tola on Monday. Read more

• PKR gains over 11 paisa against greenback

The Pakistani rupee (PKR) gained over 11.05 paisa against the US dollar in Monday's interbank session as the currency settled the trade at PKR 278.63 per USD, compared to the previous session's closing of PKR 278.74 per USD. Read more

• PSX Closing Bell: Patiently Waiting

The benchmark KSE-100 index closed Monday's trading session at 64,890.51 showing an increase of 74.04 points or 0.11%. Read more

• Secure Logistics looks to raise Rs600m through IPO

Secure Logistics Group Limited (SLG) is planning to raise Rs600 million through an Initial Public Offering (IPO), said Arif Habib Limited, the Lead Manager & Book Runner of the IPO. Read more

• SIFC, Saudi company ink livestock deal for 5,000-acre alfalfa cultivation

Pakistan's livestock sector is set to witness a significant boost as the Special Investment Facilitation Council (SIFC) has signed an agreement with Najd Gateway Holding Company of Saudi Arabia in the livestock sector. Read more

• Pakistan Cables to sell over 4.3 acres property

The shareholders of Pakistan Cables Limited (PSX: PCAL) have resolved to dispose of and sell a property totalling approximately 4.334 acres for Rs327.5 million per acre. Read more

• Al Shaheer overutilizes Rs749.85m allocated right issue funds

Al Shaheer Corporation Limited (PSX: ASC) has overutilized the right subscription allocated amount of Rs749.847 million by Rs1.038m. Read more

• Pakistan, Iran eye $5bn trade target fueled by CPEC & BRI projects

The annual trade volume between Pakistan and Iran trade can be increased up to $5 billion in the coming few years with the enhancement of the China–Pakistan Economic Corridor (CPEC) and BRI mega projects. Read more

• VIS reaffirms ‘A-’ rating for PKTL

The VIS Credit Rating Company Limited has reaffirmed the entity ratings of Pak Kuwait Textiles Limited (PKTL) at ‘A-’ for the long term and ‘A-1’ for the short term with a stable outlook forecast. Read more

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