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MG Morning Breeze: Updates to Skim before Market

MG Morning Breeze: Updates to Skim before Market
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November 14, 2023 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

The Pakistani rupee (PKR) started the week lower, depreciating by 51.94 paisa against the US dollar in Monday's interbank session to settle the trade at PKR 287.55. Read more

Bulls continued to maintain their strong grip on the Pakistan stock market today, pushing the key stock gauge above the psychological 56,000 mark. Read more

Passenger car sales plunged by 24.33% MoM in October 2023, clocking in at just 4,850 units compared to 6,410 units recorded in the previous month. Read more

The Securities and Exchange Commission of Pakistan (SECP) registered 2,463 new companies in October 2023. Read more

 Shell Petroleum Company Limited (SPCo) has agreed to sell its 77.42% majority interest in Shell Pakistan Limited to Wafi Energy LLC and the sale is expected to be completed by 4Q2024. Read more

Telecard Limited has entered into a share purchase agreement (SPA) with Supernet Infrastructure Solutions (Private) Limited for the acquisition of SIS's entire shareholding in Hallmark Company Limited. Read more

SCBPL has entered into an un-funded Risk-Participation Agreement with the International Finance Corporation, involving a $200 million PKR equivalent program. Read more

Domestic bullion started the week strong as the price of 24-karat gold increased by Rs800 per tola to settle at Rs211,800. Read more

SMBL has officially announced to the local bourse today that the bank's name has been changed to "Bank Makramah Limited" (abbreviated as "BML"), effective from November 7, 2023.  Read more

The government's aim is to complete the Pakistan International Airlines (PIA) privatization bidding process within six weeks, subject to legal requirements. Read more

Bahria Town has categorically rejected reports circulating in the media regarding its alleged bankruptcy, terming them as ‘Malicious Propaganda’. Read more

The privatization of the Pakistan Steel Mill has been annulled due to the mill's outdated technology and the exorbitant costs required for refurbishment. Read more

PSMC has announced the upgraded new Suzuki Swift with the objective of providing standardized and top-notch safety features to valuable customers. Read more

Sazgar Engineering Works Limited (SAZEW) sold 1,004 units of Auto Rickshaw during October 2023, which was 2.14% MoM lower than the sales of 1,026 units made in the previous month. Read more

To enhance collaboration between Malaysia and Pakistan, there is a need to revive the Joint Ministerial Commission and prioritize manpower export. Read more

Russian fuel producers have been told by the government to prepare for the scrapping of all remaining restrictions on the export of diesel and gasoline. Read more

The government’s relentless efforts against power theft have yielded remarkable results, with recoveries now surpassing Rs46 billion. Read more

The designated teams of the Federal Board of Revenue (FBR) have successfully conducted 429 raids throughout the length & breadth of the country and seized around 16 million Non-Duty paid/Counterfeit cigarette sticks. Read more

Global oil prices started the week with a significant drop as the market grappled with an uncertain demand outlook driven by waning demand in the United States and China. Read more

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Posted on: 2023-11-14T06:11:55+05:00