MG Morning Breeze: Updates to Skim before Market

January 02, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• CPI surges to 29.7% in December

The consumer price index (CPI) for December 2023 surged to 29.7% YoY, compared to 29.2% YoY in the last month and 24.5% YoY in December 2022. Read more

• PSX Closing Bell: New Beginnings

The Pakistan Stock Market kicked off 2024 on a high note, with its key benchmark KSE-100 index surging by 2,210.74 points or 3.54% to close Monday's trading session at 64,661.78. Read more

• Gold Yearly Review: Domestic Bullion strikes it rich in 2023

Domestic bullion investors have joyed magnificent investment returns for 2023 as the yellow metal has delivered an impressive 19.47% yield for the year. Read more

• Gold starts 2024 with a decline of Rs300 per tola

The price of 24-karat gold fell by Rs300 on the first trading session of 2024, as it was quoted at Rs219,700 per tola. Read more

• LPG prices increased by Rs1.57 per kg

The Oil and Gas Regulatory Authority (OGRA) has increased the price of Liquefied Petroleum Gas (LPG) by Rs1.57 per kg. Read more

• TOMCL makes history with cooked beef exports to China

The Organic Meat Company Limited (PSX: TOMCL) now stands as the first company from South Asia to have successfully exported cooked/heat-treated frozen beef meat products to the People's Republic of China on December 31, 2023. Read more

• AGIL, Agriauto Stamping to observe partial shutdown in January

On the back of the reduction in production volumes of Agriauto Industries Limited (PSX: AGIL)'s major customers, the company will observe a partial shutdown during January 2024. Read more

• Clover to become FEPL’s sole dealer in operations

The Board of Directors of Clover Pakistan Limited (PSX: CLOV) has approved a deal with Fossil Energy (Private) Limited (FEPL) to become its exclusive dealer for managing, operating, and maintaining its Company Owned Company Operated Filling / Service Stations including Agri sites. Read more

• Pakistan’s furnace oil exports hit record high in 5MFY24

Pakistan’s exports of furnace oil have surged to a historic high level in the five months of FY24, amounting to 358,000 metric tons. Read more

• Pakistan’s tourism revenue soared 2.15x in 2023, generating $1.3bn

Pakistan saw a 2.15x increase in foreign tourism in 2023 which has helped the country earn $1.3 billion in foreign exchange revenue, Caretaker Minister of State for Tourism Wasi Shah said on Monday. Read more

• Agha Steel reports minor damage at plant site, major loss of lives in ECR incident

An isolated incident that occurred at the Agha Steel Ind.Ltd (PSX: AGHA) plant site in the low-voltage electric control room (ECR) has been effectively managed and contained, and no major damage is being reported. Read more

• PACRA reaffirms Kassim Textiles ratings with stable outlook

Pakistan Credit Rating Agency Limited (PACRA) has maintained entity ratings of Kassim Textiles (Pvt.) Limited at “A-” for the long term and “A2” for the short term with a stable outlook forecast. Read more

• PACRA maintains CPHGC at ‘AA+’ and ‘A1+’ with a stable outlook

Pakistan Credit Rating Agency Limited (PACRA) has maintained entity ratings of China Power Hub Generation Company (Pvt.) Limited at “AA+” for the long term and “A1+” for the short term with a stable outlook forecast. Read more

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