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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 18, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs538.01 billion for 3,6 and 12 months against a target of Rs525bn. Read more

The Central Bank sold Pakistan Investment Bond – Floating Rate (PIB-PFL) semiannual Rs353.23 billion for 5 and 10 years against a target of Rs220bn. Read more

The total debt of Khyber Pakhtunkhwa stands at Rs636 billion, with no domestic debt, Muzzammil Aslam, Advisor on Finance to the Chief Minister of Khyber Pakhtunkhwa revealed. Read more

The benchmark KSE-100 index concluded Wednesday's trading session at 70,333.32 showing a decrease of 150.34 points or 0.21%. Read more

The Pakistani rupee (PKR) depreciated by around 11 paisa against the US dollar in Wednesday's interbank session as the currency settled the trade at PKR 278.4 per USD, compared to the previous session's closing of PKR 278.29 per USD. Read more

Passenger car sales decreased by 3.53% MoM in March 2024, clocking in at 7,672 units compared to 7,953 units recorded in February 2024, the latest data from the Pakistan Automotive Manufacturers Association (PAMA) showed today. Read more

Gold price in Pakistan continued its record rally, with 24-karat gold gaining another Rs2,200 to Rs251,900 per tola on Wednesday. Read more

The State Bank of Pakistan (SBP) has imposed hefty fines worth a total of Rs775.54m on nine banks during the quarter ended March 31, 2024, for violating its rules and regulations, according to a document released by SBP's Banking Supervision Department. Read more

The Pakistan Mercantile Exchange (PMEX) on Tuesday registered traded contracts worth around Rs26.73 billion, marking a notable decrease of 29.73% DoD compared to the previous close of Rs38.05bn. Read more

United Bank Limited (PSX: UBL) has started 2024 on a strong note, recording a profit of Rs16.14 billion [EPS: 13.05] for the three months ended March, marking an 11.53% YoY rise compared to the Rs14.47bn profit reported in the Same Period Last Year (SPLY). Read more

The Board of Directors of Bank Alfalah Limited (PSX: BAFL) has accorded its in-principle approval to the non-binding indicative offer received from Bank Asia Limited, Dhaka, Bangladesh (Bank Asia) to acquire the Bank's operations/assets and liabilities. Read more

The Searle Company Limited (PSX: SEARL) board has authorized to explore funding avenues for its subsidiary, Searle Pakistan Limited (SPL), it said in a company filing on Wednesday. Read more

The total deposits held by scheduled banks have moved up by 20.11% YoY to Rs28.32 trillion in March 2024 compared to Rs23.58tr in March 2023. Read more

Tariq Corporation Limited (PSX: TCORP) has utilized the entire proceeds received from the right issue subscription worth Rs198.62 million. Read more

Pakistan Stock Exchange (PSX) has accepted the request of Johnson & Phillips (Pakistan) Limited and has decided to delist the Company from the Exchange with effect from Wednesday, April 17, 2024. Read more

The Competition Commission of Pakistan (CCP) has issued a Policy Note to the Ministry of Science and Technology and Pakistan Standards and Quality Control Authority (PSQCA), recommending amendments to the Pakistan Standard Specification for all five types of cement. Read more

Pakistan's three major oil refineries, Attock Oil Refinery, National Oil Refinery and Pakistan Oil Refinery will soon sign an agreement with the Oil and Gas Regulatory Authority (OGRA) under the Brownfield Refinery Policy. Read more

Foreign Minister of Saudi Arabia on Tuesday expressed great significance and interest in the improving investment ecosystem in Pakistan, said a press release issued by the Prime Minister’s office. Read more

To capitalize on emerging opportunities, the Board of Directors of International Industries Limited (PSX: ISL) on Tuesday approved a Memorandum of Understanding (MOU). Read more

Pakistan and the Kingdom of Saudi Arabia (KSA) have reiterated their resolve to build a strong partnership and further promote economic cooperation for the mutual benefit of the two brotherly countries. Read more

The Board of Directors (BoD) of Pakistan Cables Limited (PSX: PCAL) in its emergent Board meeting on Tuesday approved a Memorandum of Understanding (MOU) to form an entity to explore opportunities in collaboration with associated companies potentially. Read more

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Posted on: 2024-04-18T07:54:55+05:00