MG Morning Breeze: Updates to Skim before Market

December 11, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• SIFC EC to resolve long standing issue of KE tomorrow

The 11th Sectoral Special Investment Facilitation Council (SIFC) Executive Committee Meeting, scheduled for December 11, 2024. Read more

• Pakistan-Tajikistan to sign MoUs to strengthen bilateral ties

To strengthen bilateral ties in trade, energy, and other key sectors, Memorandums of Understanding (MoUs) will be signed during the Pakistan-Tajikistan Joint. Read more

• SBP targets to raise Rs7.6tr: Auction Calendar Dec-Feb

The government is targeting to raise Rs7.6 trillion during the three months from December to February 2024. Read more

• M2 rises by Rs317bn in a week

Broad money (M2), the most widely used measure of money supply in Pakistan, rose by Rs316.88 billion. Read more

• Car sales rise 56% in November 2024

The sales of cars, including LCVs, vans, and jeeps, in Pakistan increased by 56.0% in November 2024, clocking in at 10,100 units. Read more

• PSX Closing Bell: Taking a step back

The benchmark KSE-100 Index concluded Tuesday’s trading session at 108,896.65, showing a decrease of 1,073.73 points or 0.98%. Read more

• Gold gains 1.40% on geopolitical worries, inflation data

Gold spot prices gained 1.40% ($56.84) at $2,668.98 per ounce, as of [3:37 pm PST] from the prior day’s close of $2,660.32 per ounce, Gold futures also. Read more

• PKR slips by 7.5 paisa to settle at 278.05/USD

The Pakistani rupee (PKR) fell by 7.50 paisa or 0.03% against the US dollar in Tuesday’s interbank session to settle. Read more

• Gold price in Pakistan rises Rs1,000 per tola

Gold price in Pakistan increased on Tuesday, with 24-karat gold being sold at Rs277,400 per tola, up Rs1,000. Read more

• Bank of England’s rate cuts can hit 3.5%, experts warn of inflation risk

The Bank of England can cut borrowing costs five more times to 3.5% before it runs the risk of overheating the economy and reigniting inflation. Read more

• Sazgar four-wheel sales drop 42%, share down 5.5%

Sazgar Engineering Works Limited (PSX: SAZEW) witnessed a substantial drop of 41.72% in the sale of four-wheel off-road and passenger vehicles in November 2024. Read more

• SBP orders banks to replace OTP with TPIN/FPIN for secure digital transactions

The State Bank of Pakistan (SBP) has issued a new set of directives to banks and microfinance banks (MFBs). Read more

• Oil prices decline, China’s stimulus plan offers market support

Oil prices slipped on Tuesday as concerns eased about the fallout from Syrian President Bashar al-Assad’s overthrow, but the market found support in China’s. Read more

• FATIMA’s board approves demerger plan with Pakarab Fertilizers

The Board of Directors of Fatima Fertilizer Company Limited (PSX: FATIMA) has approved the Scheme. Read more

• PACRA assigns ‘AA’ rating to Yunus Textile

Pakistan Credit Rating Agency Limited (PACRA) has assigned a long-term rating of ‘AA’ and a short-term rating of ‘A1+’ to Yunus Textile Mills Limited (YTML). Read more

• China’s CPI climbs 0.2% in Nov amid rising consumer confidence

China’s Consumer Price Index (CPI) rose by 0.2% year-on-year in November due to stronger consumer confidence, official data showed on Monday. Read more

• China’s rare earth exports drop 7.1% in November

China’s exports of rare earth minerals in November slipped 7.1% from October, customs data showed on Tuesday. Read more

• AI Force Tech partners with Punjab for agri-tech Revolution

A Memorandum of Understanding (MoU) was signed between Chinese company AI Force Tech and Punjab Agriculture Department of Pakistan on Monday. Read more

• China’s soybean imports drop by 9% in Nov, decline in Brazilian supply

China’s soybean imports fell by 9% to 7.15 million metric tons in November, down from 7.92mn tons during the same period last year. Read more

• KSE-100 scores another 1,000pts victory

The trading session at the stock market has started today on a similarly positive note, with Pakistani stocks continuing the uninterrupted rally observed. Read more

• NCCPL eases MTS rules for IPOs with 6+ month listing history

The National Clearing Company of Pakistan Limited (NCCPL) has introduced certain amendments to regulations related to the Margin Trading System (MTS). Read more

• Experts warn of carbon impact from 2030 FIFA World Cup

Environmental experts have voiced concerns about the carbon footprint generated by the logistics involved in the 2030 FIFA World Cup, which will span three. Read more

• Heatwave in Pakistan looms over garment hubs

Workers in some of the world’s biggest garment manufacturing hubs in Bangladesh, Vietnam, and Pakistan are increasingly exposed to extreme heat as climate. Read more

• TRG’s Afiniti completes financial restructuring, recapitalization transaction

TRGI portfolio company Afiniti, Ltd., a global customer experience and artificial intelligence provider. Read more

• Pakistan eyes stronger trade, investment ties with US in Pharmaceuticals, IT

Pakistan’s Ambassador to the United States, Rizwan Saeed Sheikh on Monday emphasized the potential for enhanced bilateral. Read more

• GTYR, Shandong Huasheng join hands to establish joint venture

Ghandhara Tyre and Rubber Company Limited (PSX: GTYR) has signed a non-binding Memorandum of Understanding (MoU). Read more

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