MG Morning Breeze: Updates to Skim before Market

November 07, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Sazgar reports 296% surge in four-wheel vehicle sales for Oct

Sazgar Engineering Works Limited (PSX: SAZEW) witnessed a substantial rise of 296.05% in the sale of four-wheel off-road and passenger vehicles in October. Read more

• Silkbank gives in-principal approval to UBL merger offer

The Board of Directors of Silkbank Limited (PSX: SILK), in its meeting held on November 6, 2024, has accorded its in-principle approval for a potential merger. Read more

• Maple Leaf Cement submits intention to acquire 38% of Agritech

Maple Leaf Cement Factory Limited (PSX: MLCF) has submitted a public intention to acquire 37.86% shares (i.e. 160,762,209 shares) of Agritech Limited (PSX: AGL) Read more

• Gold price in Pakistan falls Rs1,000 per tola

Gold price in Pakistan decreased on Wednesday, with 24-karat gold being sold at Rs282,200 per tola, down Rs1,000. Read more

• PSX Closing Bell: One-Horse Race

Pakistan stocks rose during early hours Wednesday but then gave up their advance and ended in red after Donald Trump won the US presidential election. Read more

• PSX places Al Shaheer Corporation in defaulters’ segment

The Pakistan Stock Exchange (PSX) announced today the placement of Al Shaheer Corporation Limited (PSX: ASC) in the Defaulters’ Segment, effective November 6. Read more

• PKR decreases by 5 paisa against USD

The Pakistani rupee (PKR) decreased by 5.44 paisa or 0.02% against the US dollar in Wednesday’s interbank session to settle the trade at PKR 277.89 per USD. Read more

• Donald Trump elected 47th US President

Donald Trump was elected the 47th president of the United States on Wednesday, an extraordinary comeback for a former president. Read more

• SBP to remain closed on Nov 9

The State Bank of Pakistan will remain closed on Saturday, November 09, 2024, on the occasion of Iqbal Day. Read more

• MUGHAL plans issuance of high-vote shares to replace debt

Mughal Iron & Steel Industries Limited (PSX: MUGHAL) has reached a decision to issue 50 million Unlisted Ordinary Class-C shares—an eye-catching move. Read more

• Coca-Cola sales drop in Pakistan after boycott calls

Coca-Cola Icecek AS saw a drop in sales in Pakistan and Turkey due to calls in the region to boycott brands. Read more

• Aurangzeb launches SECP’s electronic mortgage register

Aurangzeb launched SECPs Electronic Mortgage Register of Companies to provide a centralized system for accessing and verifying mortgage information of companies Read more

• SBP grants in-principle approval to Toko Lab, PayMob for payment services

SBP has given in-principle approval to Toko Lab Private Limited and PayMob for establishing as an EMI and Payment System Operator (PSO)/Payment Service Provider Read more

• PSO, HUBC sign MoU to launch nationwide EV charging grid

Pakistan State Oil (PSO) and Hub Power Holdings Limited (HPHL) have signed a Memorandum of Understanding (MoU) to establish a nationwide electric vehicle (EV). Read more

• Dewan Farooque Motors loss doubles amid rising costs

Dewan Farooque Motors reported a nearly 100% increase in its net loss for FY24, as the company’s cost of sales surged while it struggled to generate any revenue Read more

• Pakistan loses its edge in supplying China with sesame seeds: Report

Pakistan’s agricultural industry is struggling to adjust to the end of a shortlived boom in supplying a staple for China’s kitchens. Read more

• Zong’s data center achieves TIA-942-C rated-3 certification

Zong, Pakistan’s leading cellular and digital services provider announced its achievement of the prestigious TIA-942-C Rated-3 Certification for its Data Center Read more

• Bitcoin breaks all-time high as markets lean toward Trump win

Bitcoin jumped to a record as traders around the world watched results trickle in from a US presidential election that pits digital-asset supporter Trump. Read more

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