MG Morning Breeze: Updates to Skim before Market

November 06, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• SSGC losses shrink 86% in FY23 amid tariff adjustments

Sui Southern Gas Company Limited (PSX: SSGC) experienced a fall of 86% in its losses in FY23, which fell to Rs1.6 billion [LPS: Rs1.82], compared to a net. Read more

• Pakistan govt tackles debt head-on, retires trillions

Pakistan’s government has retired a substantial Rs2.08 trillion in debt in the ongoing fiscal year, marking a shift from the previous fiscal year’s record. Read more

• MSCI likely to add 4 new Pakistani stocks to its Indexes

MSCI is likely to add FCCL, CHCC, FFBL, and KOHC to its Frontier Market Index. Read more

• Saudi Riyal to PKR exchange rate

The exchange rates for the Saudi Riyal (SAR), UAE Dirham (AED), and Qatari Riyal (QAR) showed minor movements against the Pakistani rupee (PKR). Read more

• PSX Closing Bell: Fly Like a Dove

Pakistan stocks extended their bullish run on Tuesday following the State Bank of Pakistan’s (SBP) decision to reduce its key policy rate by 250 basis points. Read more

• Gold price in Pakistan falls Rs500 per tola

Gold price in Pakistan decreased on Tuesday, with 24-karat gold being sold at Rs283,200 per tola, down Rs500. Read more

• PKR loses 5 paisa against USD

The Pakistani rupee (PKR) weakened by 5.03 paisa or 0.02% against the US dollar in Tuesday’s interbank session to settle the trade at PKR 277.84 per USD. Read more

• Farrukh Sabzwari appointed as PSX CEO for three-year term

The Securities and Exchange Commission of Pakistan has approved the appointment of Farrukh H. Sabzwari as Chief Executive Officer (CEO) of Pakistan Stock. Read more

• Cement despatches rise 9% in Oct

Total Cement despatches during October 2024 were 4.357 million tons against 4.006 Million Tons despatched during the same month of last fiscal year. Read more

• 2.5% rate cut misaligned with falling inflation: KCCI

President of the Karachi Chamber of Commerce and Industry (KCCI), Muhammad Jawed Bilwani, while commenting on the State Bank’s decision to reduce the interest. Read more

• ADB sets 7 projects for 2024, 16 more for 2025 in Pakistan

The Asian Development Bank (ADB) has seven projects for Pakistan this year, and there are 16 projects planned for the next year. Read more

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