MG Morning Breeze: Updates to Skim before Market

May 07, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Petrol prices likely to fall another Rs12 per litre

The government will likely cut the petrol price by another Rs12 per litre for the second half of May 2024, in line with the decline in international prices. Read more

• PSX Closing Bell: Euphoria

The benchmark KSE-100 index jumped 862.15 points or 1.2% to close Monday's trading session at a new all-time high of 72,764.24. Read more

• PKR edges lower by 3 paisa against USD

The Pakistani rupee (PKR) depreciated by 2.77 paisa against the US dollar in Monday's interbank session as the currency settled the trade at PKR 278.24 per USD, compared to the previous session's closing of PKR 278.21 per USD. Read more

• PMEX trading surges 46% to clock in at Rs38.29bn

The trading activity at the Pakistan Mercantile Exchange (PMEX) on Friday soared by 46% DoD to clock in at Rs38.29 billion with the number of lots traded at 25,593. Read more

• Pakistan seen as top Investment destination by Saudi Arabia

The Saudi government and companies consider Pakistan a high-priority economic, investment and business opportunity. Read more

• CCP approves PIA acquisition by Holdco

The Competition Commission of Pakistan (CCP) has approved a Scheme of Arrangements for the acquisition of 100% shareholding of Pakistan International Airlines Corporation Limited (PIA) by PIA Holding Company Limited (Holdco). Read more

• Shaza Fatima champions IT skills for economic progress

The Ministry of Information Technology and Telecommunication aims to empower young individuals by promoting entrepreneurship and innovation in the country. Read more

• Gold prices bounce back after last week’s drop

Gold prices in Pakistan rebounded on Monday, with 24-karat gold gaining Rs2,500 per tola to Rs240,500. Read more

• PSX announces 4th batch of stocks moving to one share lot size on May 13

The Pakistan Stock Exchange (PSX) is planning to implement the 4th batch of existing 500-size Regular Market companies for transition into ONE Share Lot Size effective from May 13, 2024. Read more

• MTL board approves amalgamation with Millat Equipment

The Board of Directors of Millat Tractors Limited (PSX: MTL) in its meeting held on May 06, 2024, has considered and approved a business expansion plan to amalgamate a subsidiary company, Millat Equipment Limited (MEL) with and into MTL. Read more

• Changan joins price-cut trend, slashes Oshan X7 price by Rs400,000

Following the recent drop in car prices in Pakistan's auto industry, Changan has also joined the league, reducing the price of its Oshan X7 Futuresense variant by Rs400,000. Read more

• AGL resumes Urea production

The Urea plant of Agritech Limited (PSX: AGL) has resumed its urea production after the conclusion of the scheduled maintenance activity. Read more

• HCAR affirms price consistency

In response to inquiries from dealers and customers regarding recent price adjustments in the market, Honda Atlas (Cars) Pakistan Ltd (PSX: HCAR) revealed its decision wherein it affirmed to maintain current prices. Read more

• Roshan Packages engages in bilateral collaborations at Saudi investment forum

Roshan Packages (RPL) is actively participating in the Saudi Arabia-Pakistan Investment Forum 2024, with the company's CEO and directors currently engaged in impactful B2B meetings with esteemed Saudi counterparts, fostering potential collaborations between the two nations. Read more

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