MG Morning Breeze: Updates to Skim before Market

September 12, 2023 (MLN): The aim of Morning Breeze is to lessen the load for its readers by curating noteworthy updates from the preceding day.

• PKR gains 1.79 rupees in interbank, 6 rupees in open market against USD

The Pakistani rupee (PKR) extended its upward momentum as it gained 1.79 rupees against the US dollar in Monday's interbank session and settled the trade at PKR 301.16 per USD. Read more

• No reduction in Solar net metering incentives, new industry tariff before Oct 31: Minister

The caretaker government has no intentions of reducing incentives for solar net metering, Caretaker Minister for Energy and Petroleum Muhammad Ali said on Monday during a media talk. Read more

• Workers’ remittances drop by 23.74% YoY to $2.1bn in August

Workers' remittances have decreased by 23.74% YoY in August to $2.09 billion. Read more

• Pakistanis to win “Prize Money” for exposing dollar smuggler, hoarders

Pakistani citizens will be awarded prize money for helping the government authorities to identify smuggling rackets. Read more

• Govt affirms unwavering support for PIA, denies false reports

The government will continue its financial support to Pakistan Air Lines (PIA). Read more

• Car sales soar by 59.62% MoM in August

Passenger car sales witnessed a significant surge of 59.62% MoM in August 2023, clocking in at 5,909 units compared to 3,702 units recorded in the previous month. Read more

• Domestic gold prices continue to slide: A loss of Rs30,400 since August peak

24-karat gold's decline persisted as it dipped to Rs209,400 per tola, marking a decrease of Rs2,600 DoD. Read more

• PSX Closing Bell: In a Tight Spot

The benchmark KSE-100 index opened the week with a slightly bearish tone, closing Monday's trading session at 45,865.73. Read more

• SAZEW sells 1,089 auto rickshaws in August, up by 43.1% MoM

Sazgar Engineering Works Limited (SAZEW) sold 1,089 units of Auto Rickshaw during August 2023. Read more

• Textile exports decrease by 6% YoY in August: APTMA

Textile exports in the month of August 2023 slumped by 6% YoY to $1.48 billion, compared to $1.58bn in August 2022. Read more

• KTML records Rs9.19bn net profit in FY23, up by 72% YoY

Kohinoor Textile Mills Limited (PSX: KTML) reported a remarkable 72.38% YoY increase in profitability in FY23, achieving a post-tax profit of Rs9.19 billion [EPS: Rs21.55]. Read more

• KTML approves Rs2bn investment in MLCF, MLCL

The Board of Directors of Kohinoor Textile Mills (PSX: KTML) has given the green light to invest up to Rs2 billion in its subsidiaries. Read more

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