MG Morning Breeze: Updates to Skim before Market

November 22, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• SBP reserves rise $29m to $11.29bn

The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $29.4 million or 0.26% WoW to $11.29 billion during the week. Read more

• KSE-100 nears 100,000 on improving economic indicators

Pakistan’s benchmark stock index closed in on the historic 100,000 mark as investors continued to pile into stocks amid positive macroeconomic indicators. Read more

• Govt introduces policy to transition 30% vehicles to electric by 2030

The government on Wednesday announced the New Energy Vehicle (NEV) policy aimed at transitioning 30% of all new vehicles in Pakistan to electric by 2030. Read more

• E&P committee agrees to sell 35% of unallocated gas volumes

In a major development, the Exploration & Production Committee has reached an in-principle agreement to submit a long-awaited framework to the National. Read more

• Weekly SCRA records Rs3.6bn sale

The net sale of securities for the week ended November 15, 2024 clocked in at Rs3.61bn, as compared to a net sale worth Rs11.57bn recorded last week. Read more

• PKR rises by 8 paisa against USD

The Pakistani rupee (PKR) appreciated by 8.33 paisa or 0.03% against the US dollar in Thursday’s interbank session to settle the trade at PKR 277.96 per USD. Read more

• Gold, silver prices surge in Pakistan

The prices of gold and silver surged on Thursday as traders sought haven in the precious metals after Russia’s war against Ukraine escalated. Read more

• THCCL denies competitor’s false claims of plant shutdown

Thatta Cement Company Limited (PSX: THCCL) has denied false information spread by one of its competitors regarding the shutdown of its plant. Read more

• Pakistan seeks to replicate Tokyo education model

Pakistan is looking to adopt a Tokyo-inspired model for workforce skill development, aiming to enhance its standards and capitalize on Japan’s job opportunities Read more

• Punjab launches Rs1.2bn program to boost citrus production

Minister for Agriculture & Livestock Punjab Syed Ashiq Hussain Kirmani on Wednesday said that a mega programme worth Rs1.2 billion was being implemented. Read more

• Bitcoin nears $100,000 on optimism over Trump crypto plans

Bitcoin closed in on the historic $100,000 mark as traders bet President-elect Donald Trump’s friendlier US regulatory approach to cryptocurrencies. Read more

• Aquashore secures 50% stake in Total Parco Pakistan

The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of 50% shareholding in Total Parco Pakistan Limited (TPPL) by Aquashore. Read more

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