MG Morning Breeze: Updates to Skim before Market

November 08, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• SBP reserves rise $18m in a week

The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $18 million or 0.16% WoW to $11.175 billion during the week ended on November 01. Read more

• Pakistan, Japan reflect on 70+ years of cooperation

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb met with outgoing Japanese Ambassador to Pakistan Mitsuhira Wada to discuss longstanding bilateral cooperation. Read more

• PSX Closing Bell: The shadow dance

The benchmark KSE-100 Index concluded Thursday's trading session at 92,520.48, showing an increase of 499.04 points or 0.54%. Read more

• SBP targets to raise Rs8.7tr: Auction Calendar Nov-Jan

The government is targeting to raise Rs8.7 trillion during the three months from November to January 2024, through the auction of Market Treasury Bills (MTBs), Pakistan Investment Bonds (PIBs) Fixed Rate, and PIBs Floating Rate. Read more

• PKR decreases by 5 paisa against USD

The Pakistani rupee (PKR) weakened by 5.38 paisa or 0.02% against the US dollar in Thursday's interbank session to settle the trade at PKR 277.95 per USD. Read more

• SBP withdraws self-assessment program for clean note policy

The State Bank of Pakistan (SBP) has withdrawn its instructions regarding the self-assessment compliance program for the Clean Note Policy (CNP) by commercial banks. Read more

• Lahore’s air quality hits hazardous levels, hospitalizes hundreds

More than 900 people have been admitted to hospital in a single day in the Pakistani megacity of Lahore due to air pollution, the local government said. Read more

• Gold price drops Rs5,400 in Pakistan after Trump’s win

Gold price in Pakistan slumped Rs5,400 on Thursday, with 24-karat gold being sold at Rs276,800 per tola.. Read more

• GCIL launches Pakistan’s largest medical & industrial gases plant

GCIL has successfully commissioned Pakistan's largest and the company's 5th new state-of-the-art industrial and medical gases manufacturing plant (having capacity of 275TPD) at Hattar Special Economic Zone, District Haripur. Read more

• Electric vehicle policy to be announced by month-end

Minister for Industries and Production Rana Tanveer Hussain has said the Electric Policy will be announced by the end of this month to promote electric vehicles in the country. Read more

• Nestlé unveils $50m export vision for Pakistan by 2030

Nestlé has reaffirmed its commitment to the government’s vision for Pakistan’s economic growth by unveiling its $50 million packaged food exports vision till 2030. Read more

• NEPRA cuts tariffs by Rs1.28/kWh for Sept FCA

The National Electric Power Regulatory Authority (NEPRA) has reviewed and assessed a National Average Uniform decrease of Rs.1.2754/kWh in the applicable tariff for XWDISCOs on account of variations in the fuel charges for September 2024. Read more

• PSX requires brokers to ensure connectivity with primary, DR sites

 The PSX has issued a notice informing all securities brokers to have adequate infrastructure, including system capabilities, to ensure connectivity with both the primary and Disaster Recovery (DR) sites of PSX for the smooth continuation of operations. Read more

• Govt to set up 10,000 EV charging stations by 2030

The government plans to transform the transportation landscape by setting up 10,000 electric vehicle (EV) charging stations by 2030. Read more

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