MG Morning Breeze: Updates to Skim before Market

November 21, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• SBP raises Rs368bn through PIB auction

The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Pakistan Investment Bonds (PIBs) worth Rs367.95 billion. Read more

• Kohat Cement installs 5.34 MW solar power plant

Kohat Cement Company Ltd. (PSX: KOHC) has successfully installed and commissioned 5.34 MW on-grid solar power plant at the company’s plant site in Kohat. Read more

• Pakistan invites Azerbaijan to take part in PIA privatization

Pakistan has offered the government of Azerbaijan to take part in the privatization of unprofitable flag carrier Pakistan International Airlines Corporation Ltd Read more

• TRG associate sells 3.56m IBEX shares for $70m

IBEX Limited (Nasdaq: IBEX) has repurchased 3.56 million shares from The Resource Group International Limited (TRGI), an associate of TRG Pakistan Ltd. Read more

• Gold price in Pakistan rises Rs800 per tola

Gold price in Pakistan increased on Wednesday, with 24-karat gold being sold at Rs274,300 per tola, up Rs800. Read more

• SBP grants license to EPSPL to launch e-money services

The State Bank of Pakistan (SBP) has given license to E-Processing Systems Private Limited (EPSPL) to commence commercial operations as an EMI. Read more

• United Kingdom leads FDI in Pakistan with net inflow of $21.9m in Oct

United Kingdom emerged as the largest investor in Pakistan in October 2024, with a net direct investment of $21.85m, followed by the Netherlands and France. Read more

• PSX Closing Bell: U-turn

Pakistan stock market kicked off the day on a bullish note, but then gave up all of its advance to end the session in red. Read more

• OGDC explores tight gas potential in Sindh

Oil and Gas Development Company Limited (PSX: OGDC) has launched a comprehensive study to assess. Read more

• PKR weakens by 9 paisa against USD

The Pakistani rupee (PKR) fell by 9.00 paisa or 0.03% against the US dollar in Wednesday’s interbank session to settle the trade at PKR 278.04 per USD. Read more

• Sui Northern Gas Pipelines quarterly profit rises 62%

Sui Northern Gas Pipelines Limited (PSX: SNGP) earned a net profit of Rs3.7 billion [EPS: Rs5.83] during the quarter ending March 2024. Read more

• Pakistan initiates $4.4m project to enhance water quality monitoring

The Ministry of Climate Change and Environmental Coordination has initiated a $4.4 million project to monitor. Read more

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