MG Morning Breeze: Updates to Skim before Market

February 06, 2025 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Gold nears Rs300,000 per tola

Gold price in Pakistan increased on Wednesday, with 24-karat gold being sold at Rs299,600 per tola. Read more

• SEARL secures GCC approval for manufacturing facility in Qatar

The Searle Company Limited (PSX: SEARL) achieved a significant milestone with the approval of its manufacturing facility by the Ministry of Public Health. Read more

• Trump, DeepSeek in spotlight as nations convene at Paris AI Summit

All eyes are on the French capital next week to see if U.S. President Donald Trump’s administration can find common ground with China and nearly 100 other. Read more

• China’s markets face headwinds from U.S. trade spat

China’s stocks and currency came under pressure as markets returning from a week-long break were greeted by a new trade. Read more

• Pakistan, China strengthen bilateral relations in Beijing meeting

Pakistan and China reaffirmed their longstanding friendship and strong bilateral ties as President Asif Ali Zardari met with Zhao. Read more

• Oil prices fall on rising U.S. stockpiles, trade tensions

Oil prices declined on Wednesday as rising stockpiles in the U.S. and market worries about a new Sino-U.S. trade war. Read more

• Pakistan’s banks short-term debt strategy raises financing risks: IMF

Pakistan,s banks preference for shorter-duration investments, such as Treasury bills and floating-rate notes, to mitigate interest rate. Read more

• SECP enhances clarity with new name reservation rules

In order to streamline the name reservation process, the Securities and Exchange Commission of Pakistan (SECP) has introduced new name reservation Guidelines. Read more

• SBP raises Rs651bn through floating rate PIBs

The State Bank of Pakistan (SBP) conducted an auction for floating rate Pakistan Investment Bonds on Tuesday. Read more

• FinMin discusses CCP’s operational efficiency, institutional effectiveness

The Competition Commission of Pakistan’s (CCP) operational efficiency and institutional effectiveness in fulfilling its regulatory mandate were discussed. Read more

• Auction Result: Govt raises Rs452bn through T-bills

The State Bank of Pakistan (SBP) conducted an auction on Tuesday in which it sold Market Treasury Bills (MTBs) worth Rs451.92 billion. Read more

• SBP releases draft National Green Taxonomy for public consultation

The State Bank of Pakistan (SBP) has released the draft of the National Green Taxonomy for public consultation as part of its efforts to promote green finance. 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???????

• Meskay & Femtee to acquire 74.41% of MWMP shares

Intermarket Securities Limited (PSX: IMS) (Manager to the Offer), on behalf of its client Meskay & Femtee Trading Company (Pvt) Ltd (Acquirer), made the. Read more

• PSX Closing Bell: Lose Yourself

The benchmark KSE-100 Index concluded Tuesday’s trading session at 111,935.38. Read more

• Pakistan attends ECO HLC on Reforms & Cooperation

Pakistan was represented at the High-Level Committee (HLC) on Economic Cooperation Organization (ECO) Reforms and the Prospects. Read more

• PKR rises by 9 paisa against USD

The Pakistani rupee (PKR) strengthened by 8.83 paisa or 0.03% against the US dollar in Tuesday’s interbank session to settle the trade at PKR 278.96 per USD. Read more

• Pakistan, Saudi Fund sign $1.61bn agreements

Pakistan and the Saudi Fund for Development (SFD) have signed two agreements worth $1.61 billion, witnessed by Prime Minister Muhammad Shehbaz. Read more

• MEL, MTL confirm merger sanctioned by Lahore High Court

Millat Equipment Limited (MEL) has been merged with Millat Tractors Limited (PSX: MTL) through a judgment passed. Read more

• China hits back at U.S. tariffs with new business restrictions

China on Tuesday announced a wide range of measures targeting U.S. businesses including Google, farm equipment. Read more

• OML to install 500 kW off-grid solar system

Olympia Mills Limited (PSX: OML) plans to install an off-grid solar power system with an initial capacity of 500 kW at its factory premises. Read more

• IMF urges better cash management to cut Pakistan’s borrowing

To reduce the broader public sector’s borrowing needs and limit the sovereign-bank nexus in Pakistan, it is essential to improve cash management within the. Read more

• Allied Bank posts Rs44.4bn profit, up 7.5% in 2024

Allied Bank Limited (ABL) has posted a robust profit after taxation of Rs44.4 billion for the year ended December 31, 2024, reflecting a 7.48% increase. Read more

• Sazgar produces 4,840 three-wheelers, 1,813 four-wheelers in Dec & Jan

Sazgar Engineering Works Limited (PSX: SAZEW) produced 4,840 units of three-wheelers and 1,813 units of four-wheelers. Read more

• Baluchistan Wheels sees 5.71% drop in profit

Baluchistan Wheels Limited (PSX: BWHL) earned a profit after tax of Rs114.93 million [EPS: Rs8.62] for the half-year. Read more

• SBP sets rate of Special Cash Reserve Account at 3.31% for February

The State Bank of Pakistan (SBP) has set the rate of remuneration for February 2025 on Special Cash. Read more

• China hits U.S. goods with new tariffs

China on Tuesday slapped tariffs on some U.S. imports in a swift response to new U.S. duties on Chinese goods. Read more

• Pakistan banks profitable from government financing: IMF report

The banking sector in Pakistan has remained profitable, largely driven by its focus on financing the government’s fiscal deficit. Read more

• Pakistan’s EV sector grows with SIFC support

Pakistan’s electric vehicle sector is advancing due to the efforts of the Special Investment Facilitation. Read more

• Japan’s exports rise 3.7% in 2024 despite China’s seafood ban

Japan’s exports of agricultural, forestry, and fishery products rose 3.7% to a record high in 2024, despite China’s ban on seafood. Read more

• SBP to observe holiday on February 5

The State Bank of Pakistan (SBP) will remain closed on Wednesday, February 5, 2025, on the occasion. Read more

• Oil prices fall as Trump delays tariff decision

Oil prices retreated on Tuesday as U.S. President Donald Trump paused for a month a decision on steep tariffs on Mexico and Canada. Read more

• Pakistan to launch food control system to boost food security, health

To establish a strategic roadmap for a robust food regulatory system in Pakistan, ensuring food security, public health, and compliance with international. Read more

• USD to PKR rate plummets to 140.89: Google glitch

Google’s currency converter is displaying an alarmingly low exchange rate for the US Dollar against the Pakistani Rupee (PKR). Read more

• China imposes 15% tariff on U.S. coal, LNG, and 10% on other goods

China’s finance ministry said Tuesday it will impose additional tariffs of 15% on coal and liquified natural gas imports from the U.S. and 10% higher. Read more

• Indonesia, Japan firms bid for CVC’s 25% stake in RKE International

Indonesia’s sovereign wealth fund, Indonesia Investment Authority (INA), and Japan’s Mitsui & Co are among the prospective buyers of CVC. Read more

• Google slashes gulf exchange rates in half

Google’s currency converter seems to have “missed the mark” as it is incorrectly displaying the exchange. Read more

• NBP issues foreign exchange rates

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

• Trump suspends tariff threat on Mexico and Canada for 30 days

U.S. President Donald Trump suspended his threat of steep tariffs on Mexico and Canada on Monday, agreeing to a 30-day pause. Read more

• Pakistan’s OMCs sales surge 8% MoM in January, reaching 1.4mn tons

The oil marketing companies (OMCs) sales volume in Pakistan increased by 8% month-on-month (MoM) in January 2025, recording a total sales volume of 1.4. Read more

• Pakistan’s strong ties with the US highlighted by Senate Chairman

Pakistan’s relationship with the United States is a cornerstone of its foreign policy, with Chairman Senate Syed Yousuf Raza. Read more

• Pakistan unveils domestically made ICU ventilator

Pakistan has successfully developed the AlnnoVent AVB-100, a domestically produced ICU ventilator. Read more

• Markets rebound slightly after tariff news

The major stock indexes closed lower on Monday, but partly recovered from initial steeper losses as U.S. President. Read more

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