MG Morning Breeze: Updates to Skim before Market

December 31, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Pak-China strengthen energy cooperation with C-5 nuclear plant project

The Pakistan Atomic Energy Commission (PAEC) has achieved a significant milestone in the construction of the Chashma Nuclear Power Plant Unit 5 (C-5). Read more

• TRG Pakistan warns of fake documents circulating

Amid the circulation of fake documents on social media, TRG Pakistan. Read more

• December CPI likely to come down to 4.4% YoY

Headline inflation will likely clock in at 4.39% YoY in December 2024, compared to 4.9% in the previous. 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

• Global reinsurance rates set to drop by up to 15%

Global property catastrophe reinsurance rates are expected to drop by. Read more

• Pakistan recovers from default as inflation drops by 28%

Pakistan has been saved from default, with inflation reduced from 32% to 4%, and the government’s focus is now on ensuring stability and fostering growth. Read more

• PSX Closing Bell: Can You Feel The Heat?

The benchmark KSE-100 Index concluded Monday’s trading session at 115,258.99, showing an increase of 3,907.82 points or 3.51%. Read more

• PM directs completion of smart meters

Prime Minister Muhammad Shehbaz Sharif has directed the swift installation of smart meters. Read more

• Three DISCOs likely to be privatized by end of CY25

Privatization of three power distribution companies (DISCOs) will be completed by the end of next year, said Minister for Power Division, Sardar Awais Ahmed Kha Read more

• PKR remains stable at 278.48 per USD

The Pakistani rupee (PKR) remained largely stable against the US dollar in today’s session. Read more

• Gold price in Pakistan falls Rs600 per tola

Gold price in Pakistan decreased on Monday, with 24-karat gold being sold at Rs272,600 per tola, down Rs600. Read more

• Government secures Rs1tr from IPP renegotiations

Renegotiated agreements with Independent Power Producers (IPPs) have. Read more

• BBFL pays Rs458.54mn debt to SAPICO

Big Bird Food Limited (PSX: BBFL) has repaid Rs458.54 million. Read more

• Germany dominates global car export market in 2023

In 2023, Germany led global car exports with $177.2 billion, followed by Japan at $110.9bn and China at $77.7bn. Read more

• Pakistan’s GDP records 0.92% growth in Q1FY25

Pakistan’s Gross Domestic Product (GDP) has posted a growth of 0.92% in the first quarter of FY2024-25. Read more

• Money supply surpasses Rs40tr mark in November

The total money supply circulating within the economy till November 2024 has been recorded at Rs40.09 trillion. Read more

• Losses under SOEs hit Rs408bn, accumulated to Rs5.9tr

Pakistan’s State-Owned Enterprises (SOEs) losses hit a staggering loss of Rs408 billion, bringing accumulated losses since 2014 to Rs5.9 trillion. Read more

• Inflation slows to 4%-5% in December: Ministry

The headline inflation is anticipated to remain 4%- 5% in December 2024. Read more

• Asian shares mixed as stocks fall on Wall Street

Asian shares were mixed on Monday after stocks fell broadly on Friday. Read more

• Oil prices rise in thin holiday trade, investors focus on China, US data

Oil prices edged up on Monday in thin holiday trade ahead of the year-end as traders awaited more Chinese and US economic data later this week to assess. Read more

• U.S. debt hits $36.17tr: Musk predicts economic crisis

The United States national debt has hit a record-breaking $36.17 trillion. Read more

• President approves Income Tax (Amendment) Ordinance, 2024

President Asif Ali Zardari signed the Income Tax (Amendment) Ordinance, 2024, which enacted. Read more

• Digital payments in Pakistan surge 9% in Q1 FY25: Khurram Schehzad

Digital payments in Pakistan surged by 9% during the first quarter of FY25, with retail payments growing by 8%. Read more

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