MG Morning Breeze: Updates to Skim before Market

June 06, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• ADB approves $250m loan to boost PPPs in Pakistan

The Asian Development Bank (ADB) has approved a $250 million policy-based loan to help the Government of Pakistan drive sustainable investments. Read more

• Oil holds near four-month low amid stockpile surge

Oil prices held near a four-month low, with an industry report signaling a rise in US crude stockpiles, further dampening sentiment compounded by OPEC+. Read more

• Pak-China business conference attracts interest from Chinese enterprises

Pakistan Ambassador to China Khalil Hashmi says Chinese companies have shown great interest in the Pak-China Business Conference. Read more

• Air Link partners with IMIKI Corporation to pioneer smart wearable manufacturing in Pakistan

Air Link Communication Limited (PSX: AIRLINK) has signed a momentous Memorandum of Understanding (MOU). Read more

• FBR unearths multi-billion rupee tax scams

FBR have unearthed a network of tax fraudsters who have caused a loss of billions of rupees to the National Exchequer. Read more

• PKR settles stable at 278.3 against USD

The Pakistani rupee (PKR) settled stable against the US dollar in Wednesday’s interbank session as the currency settled the trade at PKR 278.3 per USD. Read more

• PSX Closing Bell: Bad Blood

Pakistan stock market extended its decline on Wednesday, with the benchmark KSE-100 index losing 447.22 points or 0.6% to 74,219.44. Read more

• Kuwait Fund, Pakistan ink $24.4m loan deal for Mohmand Dam development

Pakistan and the Kuwait Fund for Arab Economic Development (KFAED) on Monday signed a KD 7.5 million ($24.4 million) loan agreement. Read more

• Business community demands relief in budget FY25

The business community has demanded relief and facilities for the promotion of industry in the upcoming budget 2024-25 by broadening the tax net. Read more

• Gold price in Pakistan loses Rs400 per tola

Gold price in Pakistan decreased on Wednesday, with 24-karat gold being sold at Rs240,600 per tola, down by Rs400 per tola. Read more

• Pakistan embraces Huawei for digital revolution

Pakistan and Huawei, a leading global provider of information and communications technology (ICT), have reiterated their commitment to advancing an innovative. Read more

• AIIB, Pakistan forge alliance for poverty reduction, climate action

Asian Infrastructure Investment Bank (AIIB) has agreed to promote cooperation with Pakistan in poverty reduction, climate change, financing instruments. Read more

• Govt achieves petroleum levy tax target for FY24

The government has achieved the petroleum levy tax collection target for the fiscal year 2023-2024 within the first eleven months. Read more

• Chinese firm eyes Pakistan for fintech investment

Chairman of Chinese firm Transsion Holdings Zhu Zhaojiang on Wednesday called on Prime Minister Shehbaz Sharif. Read more

• Indian stocks see heightened volatility amid political uncertainty

India’s stocks fluctuated on Wednesday as investors assessed Prime Minister Narendra Modi-led party’s ability to form a coalition government. Read more

• NEPRA to review K-Electric’s proposed fuel charge adjustments on June 12

The National Electric Power Regulatory Authority (NEPRA) has announced a public hearing on June 12, 2024, for the request submitted by K-Electric. Read more

• Sindh Investment, Swiss Business council sign MoU to boost trade

Sindh Investment Department (SID) and Swiss Business Council (SBC) have signed an MoU to promote trade and investment in the province. Read more

• U Bank launches first Islamic banking window in Karachi

U Bank has launched its first Islamic Banking Window in Karachi, which will be followed by the availability of Islamic Banking Windows across all 28. Read more

• HBL, EXIM Bank ink MoU to enhance export financing

Habib Bank Limited (PSX: HBL) and EXIM (Export-Import Bank of Pakistan) have signed a Memorandum of Understanding (MoU) to collaborate. Read more

Copyright Mettis Link News