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MG Morning Breeze: Updates to Skim before Market

MG Morning Breeze: Updates to Skim before Market
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December 07, 2023 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

The Pakistani Rupee (PKR) maintained its positive trajectory on Wednesday, appreciating over 23 paisa against the US dollar to settle at PKR 284.14 per USD. Read more

The Pakistan stock market shows no signs of slowing down, with its benchmark KSE-100 Index adding another 961.7 points or 1.53% to end today's session at another record high of 63,917.72. Read more

The Pakistan stock market witnessed a dismal performance in 2023, with only one Initial Public Offering (IPO) that raised a meagre Rs435 million of funds, the lowest amount raised in the past decade and a half. Read more

Domestic bullion witnessed another major setback on Wednesday as the price of 24-karat gold extended losses by Rs1,300 per tola, to settle at Rs218,100 per tola. Read more

The Asian Development Bank (ADB) has approved three projects totalling $658.8 million this week to help Pakistan achieve its goal of more inclusive and sustainable growth and development. Read more

Pakistan’s Gross Domestic Product (GDP) is expected to expand by 2.1% in fiscal 2024 after contracting 0.17% in the previous fiscal year. Read more

The International Monetary Fund (IMF) and the Minister of Finance discussed digitizing the budget process to improve its effectiveness during the kick off meeting of the IMF Technical Assistance Mission. Read more

The Board of Directors (BoD) of Sui Southern Gas Company Limited (PSX: SSGCL) has approved the conversion of the status of SSGC LPG (Private) Limited (SLL) to a Public Limited company, and the initiation of the process for the issuance of 33.3 million shares through an Initial Public Offering (IPO). Read more

The State Bank of Pakistan (SBP) has launched an interoperable Raast P2M service to facilitate digital payment acceptance for merchants and businesses. Read more

Dun & Bradstreet has announced two revolutionary solutions, D&B Finance Analytics and D&B Risk Analytics, designed to streamline finance operations and transform third-party risk management for businesses in Pakistan. Read more

Winner Group, a leading Chinese cotton product manufacturer has expressed strong interest in collaborating with cotton-producing giants like Pakistan. Read more

The National Electric Power Regulatory Authority (NEPRA) has raised the average uniform fuel charge component for Ex-WAPDA Distribution Companies (XWDISCOs) by Rs3.0786/kWh for October. Read more

The Ministry of Industries and Production has refuted claims asserting that approximately 90% of industries in seven industrial zones of Karachi. Read more

Cherat Packaging Limited (PSX: CPPL) has agreed to sell its Papersack Line V for a total consideration of €4.4 million and has received the Letter of Credit from the buyer. Read more

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Posted on: 2023-12-07T07:24:14+05:00