MG Morning Breeze: Updates to Skim before Market

October 10, 2023 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• PKR sustains ascent, gains 5 rupees against Dollar in open market

The Pakistani rupee (PKR) appreciated by 1.04 rupees against the US dollar in Monday’s interbank session as the currency settled the trade at PKR 281.65 per USD. Read more

• Shell Pakistan already courting another suitor: CEO APL

In the wake of the buzz surrounding Attock Petroleum Limited (PSX: APL)'s keen interest in acquiring Shell Pakistan Limited (PSX: SHEL). Read more

• GDP to grow at just 2.4% in FY24: Bloomberg

Pakistan's Gross Domestic Product (GDP) growth rate is expected to expand by only 2.4% in FY24, as per the latest Bloomberg survey of nine economists conducted from October 04-06. Read more

• Pakistan, China strengthen ties under second phase of CPEC

The second phase of CPEC has officially commenced, and the government's commitment to implementing the CPEC projects remains steadfast. Read more

• PSX Closing Bell: Economic Heartbeat

The equity market swung in both directions in a volatile session on Monday, fluctuating between gains and losses throughout the session. Read more

• MARI hits paydirt with drilling, testing triumph at Ghazij-2 in D&PL Area

Mari Petroleum Company Limited (PSX: MPCL) has achieved a milestone by successfully drilling and testing the appraisal well known as Mari Ghazij-2 within the Mari Development & Production License (D&PL) area. Read more

• National Savings unveils attractive Islamic term account rates of up to 21.8%

The National Savings has recently unveiled its latest Sarwa Islamic Term Account (SITA) rates, presenting attractive investment opportunities through Islamic certificates. Read more

• SYM partners with US company

Symmetry Group Limited (PSX: SYM) has entered into an agreement with Hummingbird International LLC USA to provide Transformation Services. Read more

• Brownfield Refinery Policy 2023 enables flexible dividend payouts: ATRL

Refinery companies are now enabled to offer flexible dividend payouts following the government's approval of the Brownfield Refinery Policy 2023. Read more

• Afghan Transit Trade exerts $6bn impact on PKR exchange rate

Afghan transit trade has a significant economic impact on Pakistan, resulting in a loss of around $6 billion for the country. Read more

• TOMCL secures approval to export ‘Cooked Frozen Beef’ to China

The Organic Meat Company Limited (PSX: TOMCL) has successfully become the first and only company from Pakistan to secure Approvals from the General Administration of Customs of the People's Republic of China (GACC) to export "Cooked/heat treated Frozen Beef" to The Peoples' Republic of China. Read more

• Oil prices jump 5% on market open amid Israel-Palestine conflict

Oil prices surged as much as 5% on market open, amid the Israel-Palestine conflict that unfolded during the weekend. Read more

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