MG Morning Breeze: Updates to Skim before Market

October 10, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• HUBCO to discuss premature termination of key agreements tomorrow

The Board of Directors of Hub Power Company Limited (PSX: HUBC) will discuss the premature termination. Read more

• Pakistan banks race for higher ADR to escape tax hammer

A sudden rush has emerged among certain Pakistani banks to lend at lower-than-expected rates in order to bring their Advances to Deposit Ratio (ADR). Read more

• Worker remittances jump 29% to $2.85bn in Sep

Workers’ remittances have increased by 29% in September to $2.85 billion, compared to $2.21bn in the same month of last year. Read more

• HUBC, LPL gear up for critical contract termination talks

After Lalpir Power Limited, the directors of Hub Power Company Limited (PSX: HUBC) have also called an emergent board meeting to discuss the premature. Read more

• PBS highlights food price disparities

PBS has highlighted a disparity between food prices in open market and the wholesale and retail costs of essential commodities at both provincial and national. Read more

• KSRelief commits to humanitarian support for Pakistan

KSRelief on Tuesday reaffirmed its commitment to humanitarian support in Pakistan with the signing of joint cooperation programmes. Read more

• Saudi Arabia pledges continued support for Pakistan

Nawaf bin Said Al Malki reaffirmed the Kingdom’s unwavering commitment to Pakistan and underscored the enduring strength of Pakistan-Saudi relations. Read more

• Ismail Industries to launch $10m Bisconni subsidiary in UAE

The shareholders of Ismail Industries Limited (PSX: ISIL) have approved the establishment of a subsidiary, Bisconni Middle East Manufacturing LLC, in Abu. Read more

• Gold price per tola falls Rs3,000 in Pakistan

Gold in Pakistan fell from near peak levels amid easing international prices, with 24-karat gold being sold at Rs271,700 per tola, a decrease of Rs3,000. Read more

• Finance Division denies link between deceased Chinese engineers, IPP talks

The Finance Division has clarified news media reports linking the two deceased Chinese engineer. Read more

• Chinese stocks plunge as investors cash out

Chinese stocks tumbled on Wednesday alongside their Hong Kong peers, as investors booked. Read more

• PSX reschedules GIS auction to Oct 18

The Pakistan Stock Exchange (PSX) has once again rescheduled the GIS auction to Friday, October 18, 2024, which was earlier planned for Monday, October 14. Read more

• SBP subsidiary acquires 100% stake in National Security Printing

The Competition Commission of Pakistan (CCP) has approved the acquisition of 100 percent equity shares of M/s. National Security Printing Company (Private). Read more

• Bank of Khyber earns ICAP’s TOoP status to train future CAs

The Institute of Chartered Accountants of Pakistan (ICAP) has formally granted the Bank of Khyber (BoK) the status of Training Organization Outside Practice. Read more

• Achieving $100bn exports vital for economic resilience: Ahsan Iqbal

Raising exports from the current $30 billion to $100bn is essential for ensuring the country’s economic sovereignty Ahsan Iqbal stressed. Read more

• Supernet earns Rs241m

Supernet Limited posted a 28.1% higher consolidated profit after tax of Rs241.29 million [EPS: Rs1.93] in financial year 2024 as its sales surged. Read more

• NETSOL unveils AI-powered Transcend Platform

NETSOL Technologies has introduced its new unified Transcend Platform “ an AI-powered digital retail and asset finance solution for automotive. Read more

• President urges businesses to invest in stock exchange

Zardari has called for providing a business-friendly environment by further rationalizing the interest rate, providing cost-effective energy. Read more

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