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Pakitan’s Trade Deficit at USD 9.685 Billion in 5...

December 04, 2020 (MLN): Pakistan's trade deficit for 5 months (July-November) FY21 was USD 9.69 billion compared to a deficit of USD 9.64 billion from the corresponding period from FY20.

According to data released by the Pakistan Bureau of Statistics (PBS), the trade deficit for the month of November 2020 was recorded at USD 2.068 billion compared to a deficit of USD1.803 billion from October 2020 showing the deficit worsened by 14.7 percent.

Compared to November 2019 deficit of USD 1.917 billion, the trade numbers deteriorated by7.88 percent

Exports increased by 2.71 percent to USD 2.161 billion compared to USD 2.104 billion in October 2020.

Similarly compared to November 2019 exports increased by 7.67 percent.

Imports in November 2020 increased by 8.24 percent, clocking in at USD 4.229 billion compared to USD 3.907 billion in October 2020 and increased by 7.77 percent compared to November 2019.

Overall the 5 month exports stood at USD 9.737 billion compared to USD 9.536 from the corresponding period of last year, showing a decrease of 2.11 percent. Similarly Imports during the period increased by 1.29 percent to USD 19.422 billion compared to USD 19.175 from the same period of FY20.

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PKR weakens by 67 paisa in a week

December 04, 2020 (MLN): Pakistani rupee (PKR) closed today's trading session relatively unchanged against the USD with the rate remained stable at PKR 160.13.

The rupee traded within a very narrow range of 36 paisa per USD showing an intraday high bid of 160.21 and an intraday Low offer of 159.95.

During the week, the currency has lost 67 paisa against the greenback, as the previous week was concluded at PKR 159.46 per USD.

Within the Open Market, PKR was traded at 160.400/161.50 per USD.

Alternatively, the currency lost 29 paisa to the Pound Sterling as the day's closing quote stood at PKR 214.88 per GBP, while the previous session closed at PKR 214.59 per GBP.

Similarly, PKR's value weakened by 52 paisa against EUR which closed at PKR 194.72 at the interbank today.

On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs.715.6 for 7 days at 7.03 percent.

The overnight repo rate towards close of the session was 7.00/7.10 percent, whereas the 1 week rate was 7.00/7.05 percent.

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Attock Cement signs Tripartite agreement for commissioning of 20MW...

December 4, 2020 (MLN): Attock Cement Pakistan Limited (ACPL) has signed a tripartite agreement with PROTECH, XINJIANG TBEA Automatic Equipment Co. Ltd, China and LONGI Solar Technology Co. Ltd China along with Attock Energy Limited as lead consultant for erection, procurement and commissioning of 20MW Solar Power Plant.

To recall, on August 26, 2020, the Board of Directors of ACPL gave approval for enhancing the capacity of its earlier announced Solar Power Plant from 7MW to 20MW.

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European stock markets mixed at open

December 04, 2020: Europe's leading stock markets opened mixed Friday, mirroring the performance in Asia.

London's benchmark FTSE 100 index gained 0.5 percent to 6,522.96 points.

In the eurozone, Frankfurt's DAX 30 index dipped 0.1 percent to 13,241.66 points and the Paris CAC 40 added 0.3 percent to 5,588.76.

AFP/APP

PREMA wins ‘Brand of The Year Award 2020’ for...

December 4, 2020 (MLN): At-Tahur Limited (PREMA) has been conferred with “Brand of The Year Award 2020” for the fastest growing brand in Milk & Yogurt category for the second consecutive year, by the governing body of Brands Foundation.

The Award Accreditation Council said that the company has satisfied all applicable requirements pertaining to Quantitative Consumer Survey, Qualitative Studies, expert panel analysis and current year market standing in its category, Company's notice to PSX revealed.

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