MG Morning Breeze: Updates to Skim before Market

August 30, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

NBP sets bar high by issuing transmission report same day, others should follow

Taking a commendable step in corporate governance, the National Bank of Pakistan (PSX: NBP) has issued the Transmission Report alongside its financial results for the six months and second quarter ended June 30, 2024, on the same day. Read more

SBP reserves surge by $111.6m in a week

The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $111.6 million or 1.2% WoW to $9.4 billion during the week ended on August 23, 2024, data released by State Bank of Pakistan showed on Thursday. Read more

Highnoon’s profit in Q2 CY24 jumps 28.2%

Highnoon Laboratories Limited (PSX: HINOON) experienced a rise of 28.2% YoY in its earnings for Q2 CY24, as its profit after tax clocked in at Rs738.33 million [EPS: Rs13.94], compared to a profit of Rs576.12m [EPS: Rs10.87] reported in the same quarter last year. Read more

PSX Closing Bell: Rank Radiance

Riding optimism over yesterday's upgrade from Moody's Investors Service, bulls roared today, driving the benchmark KSE-100 Index up by 356.88 points, or 0.46%, to close at 78,349.66. Read more

Remittances targeted to reach $60bn by end of 2034

Under the Prime Minister's economic plan, the government has set an ambitious target to increase remittances to $60 billion by the end of 2034. Read more

Energy minister confirms DISCOs privatization plan by April 2025

The government, in collaboration with the Privatization Commission, will move forward with the privatization of Distribution companies (DISCOs) by April next year. Read more

PKR plunges by over 19 paisa against USD

The Pakistani rupee (PKR) depreciated by 19.23 paisa or 0.07% against the US dollar in Thursday's interbank session to settle the trade at PKR 278.64 per USD, compared to the previous closing of 278.45. Read more

Avanceon posts Rs20m loss in Q2 2024

The bottom line of Avanceon Limited (PSX: AVN) turned red in Q2 2024 as it witnessed a loss of Rs 20.11 million [EPS: Rs12.15], compared to a profit of Rs209.48m [EPS: Rs2.75] in the same period last year (SPLY). Read more

Atlas Battery reports 39% drop in FY24 earnings, declares dividend

Atlas Battery Limited (PSX: ATBA)'s earnings for the fiscal year 2024 dropped 39% to Rs1.34 billion [EPS: Rs38.37], compared to a profit of Rs2.2bn [EPS: Rs62.86] reported in the previous fiscal year. Read more

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