MG Morning Breeze: Updates to Skim before Market

August 21, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• CCP engages all stakeholders, regulators in PTCL-Telenor merger

The Competition Commission of Pakistan (CCP) is currently conducting an in-depth Phase II Merger analysis in response. Read more

• RDA attracts $161m in July

Total inflows through Roshan Digital Accounts (RDA) during July 2024 stood at $161 million, bringing the total cumulative inflows to $8.42 billion. Read more

• Car financing in Pakistan drops for 25th consecutive month

Automobile financing in Pakistan has dropped to Rs228bn in July 2024, witnessing a fall of 1.09% MoM compared to Rs230.5bn recorded in June 2024. Read more

• Pakistan not on IMF’s agenda until Aug 30

Pakistan’s eagerly awaited $7 billion bailout package is not on the International Monetary Fund (IMF) executive board’s agenda. Read more

• Analysts see more upside for gold

Gold is in record-setting form, topping $2,500 an ounce on expectations that the Federal Reserve is poised to cut US interest rates. Read more

• PSX Closing Bell: Dry Powder

The benchmark KSE-100 Index concluded Tuesday’s trading session at 77,745.52, showing a decrease of 84.82 points or 0.11%. Read more

• PKR jumps 10 paisa against USD

The Pakistani rupee (PKR) appreciated by 10 paisa or 0.04% against the US dollar in Tuesday’s interbank session to settle the trade at PKR 278.34 per USD. Read more

• Descon completes enVen project at EFERT’s plant

Descon Engineering has successfully completed the EnVen Project at the ENGRO Fertilizer Plant (EFERT) in Dharki, as shared by the company in its latest. Read more

• Gold rises to fresh record in Pakistan

Gold price in Pakistan rose to a fresh record on Tuesday, with 24-karat gold being sold at Rs260,700 per tola after a gain of Rs700. Read more

• Govt to launch $0.6m project to combat air pollution

To battle against air pollution, the government is kicking off the Montreal Protocol Project nationwide worth $594,748 in collaboration with United Nations. Read more

• PSF utilizes only a fraction of STEM budget, Chairman criticizes

While discussing the performance of Science, Technology, Engineering, and Mathematics (STEM) of Pakistan Science Foundation, Chairman Committee Kamil Ali. Read more

• Sales tax refund burden hits Rs85bn this financial year

The government’s burden of sales tax refund payments to exporters and companies has reached a staggering Rs85 billion, according to sources, causing. Read more

• Oil falls further as Gaza cease-fire eases supply concerns

Oil extended its drop after slumping over 2% yesterday as the US said Israel accepted a cease-fire proposal in Gaza, potentially easing supply risks. Read more

• UBLPETF appoints Asif Ali Qureshi as CEO

The Board of Directors (BoD) of UBL Pakistan Enterprise ETF (PSX: UBLPETF) has appointed Asif Ali Qureshi as the new Chief Executive Officer (CEO). Read more

• Mashreq Bank, Pakistani FM explore new investment avenues

To discuss Pakistan’s economic outlook and explore investment opportunities, the President/GCEO of Mashreq Bank met with Federal Minister for Finance. Read more

• ISSI, CSAI forge new partnership with MoU signing

The Institute of Strategic Studies Islamabad (ISSI) signed a Memorandum of Understanding (MoU) with the Center for Scientific and Analytical Information. Read more

• Govt announces results for Rs100, Rs1,500 Prize Bonds in latest draws

Finally the wait for the bondholders across the country is over as the government has officially. Read more

• CCP issues show-cause notices to TGA, LTGA over freight rate fixing

The Competition Commission of Pakistan (CCP) has issued show-cause notices to the Transporters of Goods Association (TGA). Read more

• AIRLINK strikes landmark deal with Acer Gadget Inc

Air Link Communication Limited (PSX: AIRLINK), a key player in the Pakistani technology sector, has secured an exclusive. Read more

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