MG Morning Breeze: Updates to Skim before Market

December 13, 2023 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• MPS sprouts green shoots of economic revival

Reaffirming the positive economic outlook amid general discussions about the economy's turnaround, the monetary policy statement, accompanied by insights from the SBP's governor, painted a picture of burgeoning hope for the economy's trajectory. Read more

• SBP maintains policy rate at 22% for fourth time

The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) in its meeting held today, has decided to keep the policy rate unchanged at 22% for the fourth consecutive meeting. Read more

• Saudi Aramco to acquire 40% stake in Gas & Oil Pakistan

Aramco, one of the world’s leading integrated energy and chemicals companies, today signed definitive agreements to acquire a 40% equity stake in Gas & Oil Pakistan Limited. Read more

• PKR gains 12 paisa against USD in interbank market

The Pakistani rupee (PKR) appreciated by 11.78 paisa against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 283.78 per USD. Read more

• PSX Closing Bell: No Brakes

After a brief dip yesterday, Pakistan’s stock market bounced back, with its key benchmark index gaining 414.46 points or 0.63% to end today's session at another record high of 66,426.78. Read more

• Bullion market suffers as 24-karat gold drops by another Rs1,800 per tola

Domestic bullion extended its decline on Tuesday as the price of 24-karat gold fell by Rs1,800 to settle at Rs213,600 per tola. Read more

• Fatima Fertilizer’s shareholders greenlight acquisition of 33.33% stake in NRL

The shareholders of Fatima Fertilizer Company Limited (PSX: FATIMA) have authorized the acquisition of up to 33.33% stake in National Resources (Private) Limited (NRL) from Reliance Commodities (Private) Limited for an aggregate price of up to Rs252.193 million. Read more

• Agha Steel, Hamdard Pakistan join hands transform construction industry in Pakistan

Agha Steel Industries Limited (PSX: AGHA) has partnered with Hamdard Pakistan, pioneering a groundbreaking initiative to redefine Pakistan's construction landscape. Read more

• Operational challenges dim debut of GIS auction through PSX

Despite an impressive response to the auction for the 1-year GoP Ijara Sukuk (GIS) through the Pakistan Stock Exchange Limited (PSX), where bids reached an impressive Rs478.78 billion, operational challenges hampered brokerage investors. Read more

• Unity Foods utilizes right subscription amount of Rs2.85bn for refinery project

Unity Foods Limited (PSX: UNITY) has successfully utilized the right subscription amount of Rs2.85 billion. Read more

• OGDC enhances gas output, begins injection into SSGC network

Oil & Gas Development Company Limited (PSX: OGDC) has successfully re-injected six low-pressure wells from Kunnar Pasakhi Deep (KPD) Field through the in-house arrangement of compression and operational modifications. Read more

• DWAE rectifies penalty issue, still faces defaulter status

Dewan Automotive Engineering Limited (PSX: DWAE) has rectified the non-compliance of PSX Regulation by paying its outstanding penalty; however, it will remain listed in the Defaulters' Segment due to ongoing non-compliance with PSX Regulations. Read more

• Attock Refinery shuts down two units amid fuel stockpile

Attock Refinery Limited (PSX: ATRL) has decided to temporarily shut down two of its crude distillation units to manage refinery operations due to an extremely high stock buildup of Premier Motor Gasoline (PMG) and high-speed Diesel (HSD). Read more

Copyright Mettis Link News