MG Morning Breeze: Updates to Skim before Market

December 16, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Weekly Market Roundup

The local bourse’s rally slowed slightly this week as the benchmark KSE-100 Index climbed 5,247.85 points, up 4.81% to close at 114,301.80. Read more

• FBR to implement faceless customs assessment system

Under the Transformation Plan, the Federal Board of Revenue is going to implement the Faceless Customs Assessment (FCA) System. Read more

• Central Banks signal cuts, gold volatility to surge year end

Three significant central banks lowered their interest rates last week. The Bank of Canada (BOC). Read more

• Pakistan secures $330M ADB loan to enhance social safety nets

Pakistan has signed a $330 million loan agreement in additional financing from the Asian Development Bank (ADB) to enhance the Integrated Social Protection. Read more

• PCMA calls for 500bps rate cut in upcoming MPC meeting

Ahmed Chinoy Chairman Pakistan Cloth Merchant Association has urged the government to support economic growth by reducing the policy rate by 500 basis points. Read more

• Key Pakistan Market Stats and Economic Indicators

Market Data and Economic Indicators. Read more

• SBP restructures supervision, launches Cyber Risk Department

To further strengthen regulatory oversight, the State Bank of Pakistan (SBP) has reorganized its three existing. Read more

• SBP to announce policy rate on Dec 16

The Monetary Policy Committee (MPC) of SBP will meet on Monday, December 16, 2024. Read more

• Saudi Riyal to PKR exchange rate

The exchange rates for the Saudi Riyal (SAR), UAE Dirham (AED), and Qatari Riyal (QAR) showed. Read more

• PSX Closing Bell: Take It Easy

The benchmark KSE-100 Index concluded Friday’s trading session at 114,301.80, showing an increase of 121.30 points or 0.11%. Read more

• Gold price in Pakistan falls Rs5,000 per tola

Gold price in Pakistan decreased on Friday, with 24-karat gold being sold at Rs277,800 per tola, down Rs5,000. Read more

• Oil prices edge higher amid supply concerns

Oil prices nudged upwards on Friday, heading for their first weekly rise since the end of November, as additional sanctions on Iran and Russia ratcheted up. Read more

• RDA attracts $186m in November

Total inflows into Roshan Digital Accounts (RDA) during November, 2024 stood at USD 186 million. Read more

• PM’s Committee stresses urgent need for PayPal access in Pakistan

The urgent need for access to global payment gateways like PayPal and the creation of similar payment solutions locally was outlined during the meeting of. Read more

• Weekly SPI stands at 0.07%

Pakistan’s short-term inflation inches up 0.07% compared to last week as of December 12, 2024. Read more

• PKR gains 11 paisa against USD

The Pakistani rupee (PKR) strengthened by 11.19 paisa or 0.04% against the US dollar in Friday’s interbank session to settle the trade at PKR 278.12 per USD. Read more

• Pakistan-EU collaborates for 2025-2027 projects on global gateway, policy framework

The European Union outlined projects planned for 2025-2027,the ongoing Multi-annual Indicative Programme (MIP), and provided updates on its policy framework. Read more

• SBP’s upcoming MPS to focus on economic growth, rate cuts

It is quite heartening to learn that the ADR has recovered sharply, and the press release and monetary policy decision. Read more

• INDU plans suspension due to scheduled maintenance from Dec 16

Indus Motor Company Limited (PSX: INDU) has decided the temporary suspension of operations at its production facility due to scheduled maintenance, the. Read more

• Pak-US aims to strengthen economic ties

To strengthen cooperation between Pakistan and the United States, an optimistic discussion was held in today’s meeting, focusing on enhancing bilateral ties. Read more

• OMO Result: SBP injects Rs9.89tr

The State Bank of Pakistan (SBP) conducted a reverse repo and Shariah Compliant Modarabah based. Read more

• VIS reaffirms entity ratings of Thal Power

VIS Credit Rating Company Limited (VIS) has reaffirmed the entity ratings Read more

• Minerals need ‘Industry Status’ to drive investment: Minister

The 11th Board Meeting discussed significant directives to restructure the Trade Development Authority of Pakistan (TDAP), enhance security protocols, improve. Read more

• World Bank approves $240m for Karachi Water and Sewerage Project

The World Bank approved $240 million in financing for the Second Karachi Water and Sewerage Services Improvement. Read more

• Asian shares decline, US treasury yields post record weekly gain

Asian shares dropped on Friday as the strong U.S. dollar made investors cautious. At the same time, longer-term U.S, according to Reuters. Read more

• OGDCL discovers gas, condensate in Khyber Pakhtunkhwa

Oil and Gas Development Company Limited (PSX: OGDC) has made a gas and condensate. Read more

• IGI Investments intends to acquire stake in MFFL

Mitchell’s Fruit Farms Limited (PSX: MFFL) has recieved public announcemet of intention (PAI) from acquirer, IGI Investments (Private) Limited (PSX: IGIHL). Read more

• NBP issues foreign exchange rates

The treasury management division of the National Bank of Pakistan (NBP) on Friday issued the following exchange rates. Read more

• PSX plans to launch cash-settled futures by March

Pakistan Stock Exchange Ltd. is looking to give traders the option of settling futures deals in cash with testing planned by March, according to the newly. Read more

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