MG Morning Breeze: Updates to Skim before Market

March 28, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• PSX Closing Bell: Off the Charts

The Pakistan Stock Exchange's (PSX) benchmark KSE-100 index closed at an all-time high of 66,547.78. Read more

• PKR gains around 4 paisa against USD

The Pakistani rupee (PKR) appreciated by 3.68 paisa against the US dollar in Wednesday's interbank session as the currency settled the trade at PKR 278.04 per USD, compared to the previous session's closing of PKR 278.08 per USD. Read more

• Gold prices climb slightly, reach Rs229,500 per tola

The domestic bullion inched up on Wednesday, with 24-karat gold being sold at Rs229,500 per tola, a gain of Rs100 as compared to the previous session. Read more

• Repatriation of profit surges to $759.2m in 8MFY24

Foreign investors ' repatriation of profit and dividends rose 3.37x YoY in 8MFY24 to $759.2 million compared to $225.4m worth of repatriation in the same period last year, the latest data issued by the central bank revealed. Read more

• Unity Foods Limited utilizes right issue amount of Rs2.85bn

Unity Foods Limited (PSX: UNITY) has utilized Rs2.85 billion of the allocated funds worth Rs3.75bn. Read more

• SBP grants operational license to Habib Metro Exchange Company, MCB Exchange Company

The State Bank of Pakistan (SBP) has issued the license for the commencement of operations to HabibMetro Exchange Services Limited, and MCB Exchange Company.

• Telecard completes first tranche sale of 51% Supernet shares to Hallmark

Telecard Limited (PSX: TELE) has sold the first tranche of its shareholding in Supernet Limited (PSX: GEMSPNL), comprising around 63 million shares or 51% of Supernet's issued and paid-up capital, to Hallmark Company Limited (PSX: HCL). Read more

• Calcorp’s parent company considers major business transformation

The parent company of Calcorp Limited (PSX: CASH), Optimus Limited, is negotiating the sale of its shares which may result in a change like the business. Read more

• Pakistan reaffirms commitment to TAPI pipeline amid delays

Amidst the ongoing media reports regarding the delays in the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, Federal Minister for Petroleum Musadik Malik has expressed that the government remains steadfast in its commitment to advancing the project. Read more

• Seven international investors express interest in PIA

Seven international investors including Germany, France, Netherlands, Qatar, UAE, Malaysia, and Turkiye have shown their interest in Pakistan International Airlines (PSX: PIAA). Read more

• Shehbaz Sharif announces Pakistan’s pursuit of stability with new IMF deal

Pakistan is determined to enter into a new International Monetary Fund (IMF) deal to achieve stability by focusing on fostering growth, creating job opportunities and addressing the issue of inflation. Read more

• FBR to nominate full-time representatives for swift tax case resolutions

To promptly address and conclude tax-related cases, the Federal Board of Revenue (FBR) will nominate full-time departmental representatives for courts. Read more

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