MG Morning Breeze: Updates to Skim before Market

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

• SBP conducts PIB auction, yields drop by up to 180 bps

The State Bank of Pakistan (SBP) raised Rs252.3 billion against a target of Rs160bn through the sale of fixed-rate Pakistan Investment Bonds (PIBs). Read more

• Domestic gold price drops by Rs2,400 per tola to Rs211,800

Domestic Bullion witnessed a major setback on Thursday as the price of 24-karat gold dropped by Rs2,400 per tola to settle today’s session at Rs211,800. Read more

• PKR’s slide against USD extends to 13 straight sessions

The Pakistani rupee (PKR) depreciated by 50.48 paisa against the US dollar as the currency settled the trade at PKR 286.9. Read more

• PSX Closing Bell: Can’t Stop, Won’t Stop

The benchmark KSE-100 index surged by 525.70 points or 0.98% to close the session at another all-time high of 54,261.43. Read more

• OGRA announces new gas prices effective from November

After a long-awaited decision on the gas price hike, OGRA has finally issued a notification regarding the increase in natural gas sale prices and minimum charges. Read more

• Bank Alfalah denies media reports of halting donations for Palestine

Bank Alfalah Limited has refuted media claims suggesting that the Pakistani government instructed banks to stop accepting donations for Palestine. Read more

• Oil prices plunges to lowest level in over three months

Global oil prices stabilized on Thursday after plunging to their lowest level in more than three months yesterday due to concerns over waning demand in the U.S. and China. Read more

• Pakistan customs seizes Rs156m worth of smuggled cigarettes

Pakistan Customs has seized 8.16 million sticks of cigarettes valuing Rs156m. Read more

• Pakistan’s tourism sector projected to generate $33bn by 2033: WB

Pakistan attracted $16 billion in visitor spending in 2022 which is projected to touch $30bn in 2033. Read more

• CEPB aims for global expansion amidst economic upturn

To optimize the returns and increase its presence globally, Century Paper & Board Mills Limited is diligently working to broaden its export horizons beyond Afghanistan. Read more

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