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MG Morning Breeze: Updates to Skim before Market

MG Morning Breeze: Updates to Skim before Market
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June 04, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

At the invitation of the Chinese leadership, Prime Minister Shehbaz Sharif, along with Finance Minister Muhammad Aurangzeb, will undertake a five-day visit. Read more

The consumer price index (CPI) for May 2024 clocked in at 11.8% YoY, compared to 17.3% YoY in the last month and 38.0% YoY in May 2023. Read more

Pakistan’s trade deficit in the eleven months of fiscal year 2023-24 has reduced by 15.2% YoY to $21.73bn as compared to a deficit of $25.64bn in 11MFY23. Read more

The Oil & Gas Development Company Limited (PSX: OGDC) has successfully tested, completed, and brought the Chanda-7 well into production. Read more

The Pakistani rupee (PKR) depreciated by 3.73 paisa against the US dollar in Monday’s interbank session as the currency settled the trade at PKR 278.36. Read more

Despite a significant slowdown in inflation, the 76,000 level proved to be a strong selling point, as the benchmark KSE-100 index experienced heavy selling. Read more

Gold price in Pakistan held steady on Monday, with 24-karat gold being sold at Rs240,300 per tola. Read more

Digitizing the tax system is a pivotal step toward modernizing tax collection, which will enhance transparency and revenue growth. Read more

The Ministries of Commerce of Pakistan and Afghanistan have agreed to implement the Temporary Admission Document (TAD) streamline mechanism. Read more

Finance Minister Muhammad Aurangzeb reiterated the government’s commitment to address the challenges faced by Korean companies. Read more

Pakistan’s Finance Minister Muhammad Aurangzeb emphasized the need for investment in technology and the importance of fostering a cultural. Read more

Business confidence in Pakistan has improved by 4%, though it remains in the negative, as reflected in the 25th Wave of the Business Confidence Index. Read more

The trading activity at Pakistan Mercantile Exchange (PMEX) increased by 14.54% DoD on Friday to clock in at Rs24.14 billion. Read more

Policy initiatives by the Special Investment Facilitation Council (SIFC), such as revising the visa policy to remove unnecessary barriers. Read more

The official reserve assets, including foreign currency reserves, IMF reserve position, Special Drawing Rights (SDRs), gold, and other reserve assets. Read more

The Dextrose Monohydrate (DMH) Plant of Matco Foods Limited (PSX: MFL) has resumed regular production after process improvements and routine maintenance. Read more

Iron ore dropped to the lowest level in more than six weeks on worries over the outlook for Chinese demand, which has been hammered by the protracted property. Read more

The Sindh Government in collaboration with the World Bank is implementing a comprehensive program to solarize public sector buildings. Read more

Minister Planning, Development, and Special Initiatives, Ahsan Iqbal on Friday visited China and met with Chengdu-based entrepreneurs and businessmen. Read more

Pakistan and China have signed a Memorandum of Understanding to promote industrial cooperation between the two countries. Read more

Ambassador of the Republic of Kyrgyzstan to Pakistan, Ulanbek Totuiaev, has said that CASA-1000 would be completed by the end of this year, 2024. Read more

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Posted on: 2024-06-04T06:00:00+05:00