MG Morning Breeze: Updates to Skim before Market

July 04, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Pakistan meets IMF bailout requirements

Pakistan is looking to clinch a staff level agreement on an International Monetary Fund bailout of more than $6 billion this month. Read more

• Govt sets August 2024 deadline for PIA privatisation

The Privatization Commission (PC) expects to conclude the privatization process of Pakistan International Airlines (PIA) by August 2024. Read more

• Bank Alfalah achieves highest ‘AAA’ rating from PACRA

Bank Alfalah Limited’s (BAFL) credit rating has been elevated to “AAA” by the Pakistan Credit Rating Agency Limited (PACRA), marking the achievement. Read more

• Pakistan’s money supply reaches Rs37.95tr

The total money supply circulating within the economy till May 2024 has been recorded at Rs37.95 trillion. Read more

• Saudi Arabia eases tourist visa requirements for Pakistani travelers

Saudi, one of the top international destinations for Pakistani travellers, has eased tourist visa requirements with immediate effect, where applicants. Read more

• MARI’s MMC secures mineral exploration licenses in Balochistan’s Chagai district

The Directorate General Mines & Minerals Balochistan has granted two exploration licenses to Mari Petroleum Company Limited Read more

• Pakistan’s external borrowing stands at $403m in May 2024

The country secured external financing worth $402.96 million in May 2024 from multiple financing sources. Read more

• Pakistan consumes 55bn plastic bags annually

Pakistan consumes 55 billion plastic bags annually, with usage expected to increase by 15% each year. Read more

• PSX Closing Bell: To the Moon

Bulls maintained their momentum at the Pakistan Stock Exchange (PSX) on Wednesday, pushing the benchmark KSE-100 index above the 80,000 level. Read more

• PKR falls to 278.4 per USD

The Pakistani rupee (PKR) depreciated by 2.52 paisa against the US dollar in Wednesday’s interbank session as the currency settled the trade at PKR 278.4. Read more

• Landmark Spinning Industries to resume operations after successful reverse merger

Landmark Spinning Industries Limited (PSX: LMSM) was in the process of a reverse merger during Q2 CY24 with an operating unlisted company. Read more

• Gold price in Pakistan gains Rs800 per tola

Gold price in Pakistan increased on Wednesday, with 24-karat gold being sold at Rs242,300 per tola, up Rs800 per tola. Read more

• PM plans to boost Pakistan-Tajikistan links with rail and road projects

The regional connectivity between Pakistan and Tajikistan can be further promoted by the construction of rail tracks and roads between the two countries. Read more

• Pakistan aims for enhanced connectivity with Russia via Central Asia

To boost trade and cargo activities between Russia and Pakistan. Read more

• Re-composition: DGKC, SEARL & AIRLINK added to Meezan Pakistan Index

The Pakistan Stock Exchange Limited has conducted the Re-composition exercise of the Meezan Pakistan Index (MZNPI) as of June 14, 2024. Read more

• PACRA upgrades JS Bank’s long-term rating to ‘AA’

Pakistan Credit Rating Agency Limited (PACRA) has updated the entity ratings of JS Bank Limited (PSX: JSBL) from “AA-” to “AA” for the long-term and “A1+”. Read more

Copyright Mettis Link News