MG Morning Breeze: Updates to Skim before Market

September 26, 2023 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• SBP suspends fourth exchange company in a month

The State Bank of Pakistan (SBP) has suspended the authorization of another B category Exchange company "Premier Exchange Company –B (Pvt.) Limited. Read more

• PKR appreciates by 90 paisa against greenback

 The Pakistani rupee (PKR) continued its ascent for the 14th straight session, appreciating by 90.18 paisa against the US dollar in Monday's interbank session to settle at PKR 290.86 per USD, compared to the previous session's closing of PKR 291.76 per USD. Read more

• SBP suspends authorization of third exchange company in September

SBP has suspended the authorization of an Exchange Company "Al-Sahara Exchange Company (Pvt.)" Read more

• Ismmart group scam: SECP cautions against investment

SECP has issued a stern warning to the public against investing in fraudulent investment schemes of ISMMART Group. Read more

• OGRA urges to refrain from speculating on POL prices

 The Oil and Gas Regulatory Authority (OGRA) has urged to refrain from speculating on the prices of petroleum products (POL) as these prices are mainly influenced by global market trends and the USDPKR exchange rates. Read more

• SECP introduces rate caps for digital personal loans

The Securities and Exchange Commission of Pakistan (SECP) has issued a comprehensive set of requirements for Non-Banking Financial Companies (NBFCs) that offer digital personal loans through mobile applications. Read more

• PSX Closing Bell: Lackluster Performance

 The stock market opened the week on a positive note but failed to sustain the momentum and closed slightly lower than the previous day. Read more

• National Refinery Limited produces VLSFO

National Refinery Limited (PSX: NRL) has announced the successful production and supply of Very Low Sulphur Furnace Oil (VLSFO), commonly referred to as "bunker fuel". Read more

• Pakistan Railways upgrades 173 un-manned level crossings

Pakistan Railways has upgraded as many as 173 vulnerable un-manned level crossings to manned level crossings, out of 550 that are identified by the department over the entire railway network in over one year. Read more

• 39% of Pakistanis live in Poverty

Pakistan's poverty rate in 2023 is estimated to be around 39% due to low economic growth, further compounded by several recent shocks. Read more

• Millat Tractor’s profit declines by 38% YoY to Rs3.38bn in FY23

Millat Tractors Limited (PSX: MTL) 's profit has significantly declined by 37.53% YoY, to Rs3.38bn [EPS: 17.61] in fiscal year 2023. Read more

• Nimir Resin’s profit grows by 5.18% YoY to Rs385.87m in FY23

Nimir Resins Limited (PSX: NRSL) has reported a profit of Rs385.87 million [EPS: Rs2.73] for the fiscal year 2023. Read more

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