MG Morning Breeze: Updates to Skim before Market

December 22, 2023 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• PSX Closing Bell: Running Through the Sixties

The Pakistan Stock Exchange (PSX) commenced today by extending losses from the previous trading sessions, however, bulls entered the market and regained control, resulting in a positive close. Read more

• PKR continues upward momentum, gains over 11 paisa against USD

The Pakistani rupee (PKR) maintained its upward momentum on Thursday by appreciating over 11 paisa against the US dollar to settle at PKR 282.79, as compared to the previous day's closing of PKR 282.9 per USD. Read more

• CNERGY’s board greenlights restructuring for company, 6 subsidiaries

The Board of Directors (BoD) of Cnergyico PK Limited (PSX: CNERGY) has approved the draft Scheme of Arrangement for the corporate reorganization and restructuring of the company and its six wholly-owned subsidiaries. Read more

• Commerce Minister announces arrival of vital urea shipment for Rabi season

To ensure uninterrupted availability of Urea during the critical Rabi sowing season (Oct-Mar), the first Urea shipment arrived at Karachi Port yesterday. Read more

• 24-karat gold price edges down to Rs218,000 per tola

Domestic Bullion concluded its upward momentum on Thursday as the price of 24-karat gold decreased by Rs500 per tola and settled the session at Rs218,000. Read more

• BML’s board approves financial budget for 2024

The Board of Directors (BoD) of Bank Makramah Limited (PSX: BML) has approved the annual budget for the bank for the financial year ending on December 31, 2024. Read more

• Telecard shareholders approve sale of 81.18% stake in Supernet to Hallmark

The shareholders of Telecard Limited (PSX: TELE) have approved to enter into a Share Purchase Agreement with Hallmark Company Limited for the sale and transfer of Telecard's entire shareholding in Supernet Limited. Read more

• Attock Refinery resumes normal operations amid improved fuel stocks

Attock Refinery Limited (PSX: ATRL) has resumed its normal operations following the improvement in the upliftment of stocks of Premier Motor Gasoline (PMG) and High-Speed Diesel (HSD) by Oil Marketing Companies (OMCs). Read more

• China sets sights on $32tr trade volume, open to inclusion of Pakistan

China aims to increase its trade volume from $27 trillion to $32 trillion and is willing to include Pakistan in this expansion, as stated by Yang Guangyuan, the newly appointed Economic Counsellor of China to Pakistan. Read more

• Launch of EXIM Bank to boost Pakistan’s export industry: Shamshad Akhtar

The launch of the Export-Import Bank of Pakistan (EXIM) will support the government's vision to boost exports and investment in Pakistan. Read more

• VIS reaffirms entity ratings of OGDC

The VIS Credit Rating Company Limited (VIS) has reaffirmed the entity ratings of Oil & Gas Development Company Limited (PSX: OGDC) at ‘AAA’ for long-term and ‘A-1+’ for short term with a stable future outlook. Read more

• SECP raises red flag on Prime Zone Ltd for alleged illegal investment schemes

The Securities and Exchange Commission of Pakistan (SECP) has issued a public alert, citing its observation that Prime Zone and its owner, Imran Butt, are engaged in illegal deposits and offering investment schemes to the public. Read more

• Iran’s Ambassador urges free movement of trucks to Quetta

In a bid to foster stronger economic ties, the Iranian Ambassador to Pakistan, Dr Reza Amiri Moghaddam on Wednesday requested for the facilitation of unrestricted movement for Iranian trucks. Read more

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