MG Morning Breeze: Updates to Skim before Market

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By MG News | October 28, 2024 at 06:00 AM GMT+05:00

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October 28, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

The total power generation in the country decreased by 6.4% to 12,486 GWh during September 2024 as compared to 13,339 GWh in the same month of last year. Read more

Pakistan is targeting around $1 billion in a formal request for funding from the IMF facility that helps low and middle income countries mitigate climate risk. Read more

During a discussion with Geoffrey Pyatt, US Assistant Secretary of State for Energy Resources, Finance Minister Muhammad. Read more

The financial market will be watching Iran’s reaction to the Israeli raid on Saturday, which Israel claims was finished. Read more

Gold price in Pakistan increased on Saturday, with 24-karat gold being sold at Rs284,300 per tola, up Rs2,000. Read more

This week, developments in Pakistan’s corporate landscape have inspired us with Hoechst Pakistan boldly. Read more

Pakistan stocks continued to face selling pressure from foreign investors who dumped stocks for the eighth week in a row, the longest streak since mid-2022. Read more

Pakistan stocks soared to new heights this week amid improving macroeconomic indicators and expectations of further reduction in the policy rate. Read more

Governor of the State Bank of Pakistan (SBP), Mr. Jameel Ahmad shared Pakistan’s economic progress with global investors and international. Read more

Kot Addu Power Company Limited (PSX: KAPCO)’s bid for the proposed K-Electric solar project to be set up at Deh Metha Ghar, Sindh for 150 MW is the lowest. Read more

The State Bank of Pakistan (SBP) has invited bids for the Market Treasury Bills (MTBs) buyback auction scheduled for October 29-30, 2024. Read more

Habib Metropolitan Bank Limited (PSX: HMB)’s earnings for the quarter ended September 30, 2024 (3QCY24) inched up to Rs7.71 billion [EPS: Rs7.14]. Read more

President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani has appealed the government to immediately reinstate six working days. Read more

JS Bank Limited (PSX: JSBL)’s earnings on a consolidated basis during the third quarter of 2024 dropped by 44.18%, booking a profit of Rs2.99bn [EPS: 1.07]. Read more

Abbot Laboratories (Pakistan) Limited (PSX: ABOT) reported its third-quarter earnings, wherein the profit after tax clocked in at Rs1.81 billion [EPS: Rs18.48]. Read more

Clover Pakistan Limited (PSX: CLOV) rebounded in the first quarter of FY25, posting a net profit of Rs87.69 million [EPS: Rs2.82] as its sales rose. Read more

Thatta Cement Company Limited (PSX: THCCL) recorded an increase of 392.0% in its profits during the first quarter of FY25 as its gross margins jumped. Read more

Millat Tractors Limited (PSX: MTL) unveiled its profit and loss statement, wherein the profit after tax clocked in at Rs569.21 million [EPS: Rs2.97]. Read more

The Pakistani rupee (PKR) appreciated by 20.00 paisa or 0.07% against the US dollar in Friday’s interbank session to settle the trade at PKR 277.64 per USD. Read more

Pakistan State Oil Company Limited (PSX: PSO) recorded a decrease of 81.9% YoY in its profitability, clocking in its profit after tax. Read more

Oil & Gas Development Company Limited (PSX: OGDC) recorded a decline of 16% in its first-quarter profit, significantly hurt by lower sales. Read more

Murree Brewery Company Limited (PSX: MUREB) recorded an increase of 54.7% YoY in its quarterly earnings, with the company’s after-tax profits. Read more

Pakistan’s short-term inflation decreased by 0.22% WoW during the week ended October 24, 2024, while the annual increase was 15.15%. Read more

Fauji Cement Company Limited (PSX: FCCL) posted a net profit of Rs3.25 billion [EPS: Rs1.32] during the quarter ending September 2024, up 24.2%. Read more

Lotte Chemical Pakistan Limited’s (PSX: LOTCHEM)profit after tax plunged 75.1% to Rs494.94 million [EPS: Rs0.33] during the thrid quarter of 2024. Read more

Fatima Fertilizers’ Multan plant has become eligible for financial support from the NACAG Secretariat to install catalysts, following the signing. Read more

Chinese electric vehicle giant BYD has launched the BYD Seal and BYD Atto 3 in Pakistan, PakWheels, Pakistan’s automobile website said. Read more

Rafhan Maize Products Limited (PSX: RMPL) earned a profit after tax of Rs1.85 billion [EPS: Rs200.78], witnessing a surge of 37.74% YoY. Read more

Mashreq Bank is expanding its operations in Pakistan and will soon launch a new office. Read more

Gharibwal Cement Limited (PSX: GWLC) on Friday reported a profit after tax of Rs535.08 million [EPS: Rs1.34] for the quarter ending September 2024. Read more

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