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Mettis Global News

CPI Preview: Inflation to fall below 14% YoY in May

MG Morning Breeze: Updates to Skim before Market

MG Morning Breeze: Updates to Skim before Market
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April 17, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

The International Monetary Fund (IMF) forecast Pakistan’s real GDP growth of 2% in fiscal year 2024 and 3.5% in fiscal year 2025, according to the April World Economic Outlook issued on Tuesday. Read more

The State Bank of Pakistan (SBP) conducted an auction on Tuesday in which it sold Pakistan Investment Bonds (PIBs) worth Rs6.83 billion for 3,5 and 10 years against a target of Rs190bn. Read more

Foreign currency deposits during March 2024 stood at $6.47 billion, depicting an increase of 1.18% MoM, according to recently released SBP data on foreign currency deposits and its utilizations. Read more

Pakistan’s Large Scale Manufacturing Industries (LSMI) production decreased by 4.14% MoM in February 2024 with the index at 126.01 compared to 131.45 in January 2024. Read more

The benchmark KSE-100 index ended Tuesday's trading session at 70,483.66 showing a slight decrease of 60.92 points or 0.09%. Read more

Pakistan was looking for a larger and extended program as it would need a two-three year time period to go through the structural reforms program. Read more

The Pakistani rupee (PKR) depreciated by around 17 paisa against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 278.29 per USD, compared to the previous session's closing of PKR 278.12 per USD. Read more

The Pakistan Mercantile Exchange (PMEX) on Monday registered traded contracts worth around Rs38.05 billion, marking a drop of 25.37% DoD compared to the previous close of Rs51bn. Read more

Prime Minister Shehbaz Sharif emphasized on Tuesday that both Saudi Arabia and Pakistan need to work closely to expedite the first phase of Saudi investments in Pakistan under the new arrangement. Read more

Gold price in Pakistan continued its record rally, with 24-karat gold gaining another Rs2,400 to Rs249,700 per tola on Tuesday. Read more

Pakistan Telecommunication Company Limited (PSX: PTC), in response to the unusual movement in its stock price, has stated that investors have reacted favourably to the disclosed information regarding the Share Purchase Agreement with Telenor Pakistan (Private) Limited (TPL). Read more

Engro Powergen Qadirpur Limited (PSX: EPQL) experienced a rise of 33.39% YoY in its earnings in 3QFY24, clocking in its profit after tax at Rs584.64 million [EPS: Rs1.81], compared to a profit of Rs438.31m [EPS: Rs1.35] in the same period last year (SPLY). Read more

The Board of Directors of Din Textile Mills Limited (PSX: DINT) has accorded approval to the management of the company to sign contracts with multiple vendors in respect of the installation of Solar Panels and Accessories up to 8 MW in total. Read more

Attock Cement Pakistan Limited (PSX: ACPL) has completed the construction and installation work for an additional production line capable of producing 1,275,000 tons of cement per annum. Read more

The scheduled Annual Turnaround (ATA) activity of the Urea Plant of Agritech Limited (PSX: AGL) will take place from April 16, 2024, to April 30, 2024, to ensure long-term sustainable and safe plant operations. Read more

Pakistan faces financing needs surpassing 10% of Gross Domestic Product (GDP), underscoring the fiscal pressures the country faces, the World Bank highlighted in its report titles 'The Great Reversal: Prospects, Risks, and Policies in International Development Association (IDA) Countries' Read more

Pakistan has initiated discussions with the International Monetary Fund (IMF) over a new multi-billion dollar loan agreement to support its economic reform program. Read more

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Posted on: 2024-04-17T08:09:37+05:00