MG Morning Breeze: Updates to Skim before Market

December 30, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Weekly Outlook: Year-end calm likely masks inflation risks

The majority of commodity and foreign exchange dealers are either on vacation or not in the market because it is year-end. Read more

• Weekly Market Roundup

Benefiting from the rollercoaster ride that led to a steep correction last week, opportunity hunters. Read more

• Zafar Paracha applauds SBP’s updated framework for ECs

Exchange Companies Association of Pakistan (ECAP) has extended its full support for the State Bank of Pakistan’s. Read more

• Key Pakistan Market Stats and Economic Indicators

Market Data and Economic Indicators. Read more

• Federal Cabinet approves 44% bank tax, abolishes 15% additional levy

Federal Cabinet has approved an ordinance to raise the bank tax rate to 44%, abolishing the 15% additional levy. Read more

• Khurram Schehzad reveals Pakistan’s Rs7.1tr tax gap

Pakistan’s tax gap (potential additional tax) is Rs7.1 trillion over Rs4tr in Sales Tax, over Rs2trn in Income Tax, rest in duties, stated Khurram Schehzad. Read more

• SBP issues reminder for National Prize Bond encashment

The State Bank of Pakistan (SBP) has reminded yesterday the public to encash, replace, or convert. Read more

• Pak-US trade expansion, interest rates targeted at 7% by 2025

To enhance trade relations between Pakistan and the United States, urgent reforms are needed to bring energy tariffs down to 9 cents per unit and reduce.. Read more

• SBP rolls out updated regulatory framework for ECs

The State Bank of Pakistan (SBP) has issued a consolidated Regulatory Framework for Exchange Companies (RFEC) to enhance. Read more

• BML shareholders approve restructuring scheme with majority votes

The shareholders of Bank Makramah Limited (BML) have approved the Scheme of Arrangement for the restructuring of the bank in the Extraordinary General Meeting. Read more

• Saudi Riyal to PKR exchange rate

The exchange rates for the Saudi Riyal (SAR), UAE Dirham (AED), and Qatari Riyal (QAR) showed minor movements against the Pakistani rupee (PKR) in today’s. Read more

• SECP approves Stock Split Guidelines

The Securities and Exchange Commission of Pakistan (SECP) has given approval to the. Read more

• PSX Closing Bell: I’m on a Boat

The benchmark KSE-100 Index concluded Friday’s trading session at 111,351.17, showing an increase of 927.85 points or 0.84%. Read more

• Federal Reserve terminates enforcement actions against NBP

The Federal Reserve Board has declared the termination of enforcement actions against. Read more

• PKGS to inject Rs3bn into StarchPack

The Board of Directors of Packages Limited (PSX: PKGS) has approved the injection of up to Rs3 billion into its 100% wholly owned subsidiary, StarchPack. Read more

• SBP to remain closed on Jan 01 on account of Bank Holiday

The State Bank of Pakistan (SBP) and all other banks will remain closed for public dealing on Wednesday Read more

• CSIL challenges SECP’s directive on credit, surety guarantees

Crescent Star Insurance Limited (PSX: CSIL) has challenged the Securities and Exchange Commission of Pakistan’s. Read more

• PKR weakens by 10 paisa against USD

The Pakistani rupee (PKR) decreased by 9.70 paisa or 0.03% against the US dollar in Friday’s interbank session. Read more

• CCP approves acquisition of Gallant Energy by Gul Ahmed Holdings

The Competition Commission of Pakistan (CCP) has authorized the acquisition of a 100% stake. Read more

• Gold price in Pakistan declines by Rs800 per tola

Gold price in Pakistan increased on Friday, with 24-karat gold being sold at Rs273,200 per tola, down Rs800. Read more

• PM orders uninterrupted gas supply for winter

Domestic consumers in Pakistan have raised concerns over a gas shortage, Prime Minister Shehbaz Sharif took notice of the complaints on Friday. Read more

• Weekly SPI increases by 0.8%

Pakistan’s short-term inflation increased by 0.8% compared to the previous week. Read more

• Spot gold prices fall amid geopolitical tensions

Gold spot prices declined 0.17% ($4.55) at $2,629.31 per ounce, as of [01:38 pm PST] from the prior day’s close of $2,633.86 per ounce. Gold futures were. Read more

• PSX resumes trading of FRR, VRR GIS with new profit rates

The Pakistan Stock Exchange (PSX) has announced today that trading in the 3- and 5-year Fixed Rental Rate (FRR) and Variable Rental Rate (VRR). Read more

• Oil prices steady, dollar strength offsets optimism over China stimulus

Oil prices were little changed on Friday but were set for a weekly rise amid optimism that economic stimulus efforts will prompt a recovery in China, but a. Read more

• PPL successfully commissioned 2nd exploratory well, Jhim East X-1

Pakistan Petroleum Limited (PSX: PPL) has successfully commissioned the second exploratory well, Jhim East X-1, located. Read more

• inDrive invests in Krave Mart to expand emerging market footprint

Ride-hailing unicorn inDrive has made a strategic investment in Pakistan’s grocery delivery startup Krave Mart. Read more

• SRVI approves investment worth Rs50om in Service Retail

The Board of Directors of Service Industries Limited (PSX: SRVI) has approved a long-term equity investment of Rs500m. Read more

• PSX to host seminar on AI and Energy Transition for Sustainable Investing

The Pakistan Stock Exchange (PSX), in collaboration with CFA Society Pakistan (CFASP), has invited stakeholders to a seminar. Read more

• Japan sets $730bn budget to tackle aging, security

Japan’s government has agreed to accept $730 billion budget for the fiscal year starting April 2025. Read more

• PM emphasizes One Health approach to combat emerging health risks

The government of Pakistan is fostering collaboration across sectors through the One Health approach to address health risks at the human-animal-environment. Read more

• OMO Result: SBP injects around Rs3tr

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

• TPL REIT Fund I to divest Technology Park Project

TPL REIT Fund I has decided to divest from Project C-Technology Park through the sale. Read more

• Pak-China partnership anchor of regional stability, prosperity: PM

The strategic partnership between Pakistan and China is not only vital for our nations but is also “an anchor for regional stability”. Read more

• Pakistan, Turkey to strengthen ties for agricultural trade

Pakistan and Turkiye have expressed commitment to enhancing trade in the agricultural sector, which will help create new opportunities for economic.. Read more

• FM aims to improve financial stability with Tax-to-GDP goal

The government of Pakistan has set a tax-to-GDP ratio target of 13.5% over the next three years to improve financial stability, said Finance Minister Muhammad. Read more

• Pakistan, Rwanda to strengthen climate action cooperation

Pakistan and Rwanda to enhance bilateral cooperation in climate change, water conservation, smart agriculture, and disaster management through a formal. Read more

• Asian markets wobble as dollar holds, yen struggles

Asian stocks fluctuated on Friday, and the dollar remained steady, leaving the yen near five-month lows in light year-end trading. Read more

• Ahsan Iqbal calls for strategies to address public sector skills gap

Challenges in retaining skilled professionals in the public sector stem from a mismatch between their skillsets and job demands. Read more

• PM initiates 100MW solar project to address GB’s 18-hour power crisis

Gilgit-Baltistan (GB) is set to receive the installation of a 100 MW solar power plant, as directed by Prime Minister Shehbaz Sharif, to address 18-hour power. Read more

• Silkbank’s shareholders back merger with UBL

The shareholders of Silkbank Limited (PSX: SILK) have approved the amalgamation of Silkbank Limited (PSX: SILK). Read more

Copyright Mettis Link News