March 08, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.
The foreign exchange reserves held by the State Bank of Pakistan (SBP) declined by $53.9 million or 0.68% WoW to $7.9 billion during the week ended on March 01, 2024, according to the data released by the central bank on Thursday. Read more
In a noteworthy development, Moody's Investors Service (Moody's) changed the outlook on the banking sector of Pakistan (Caa3 stable) to stable from negative. Read more
The benchmark KSE-100 index concluded Thursday's trading session at 65,603.09 showing a decrease of 53.53 points or 0.08%. Read more
By removing discriminatory gas pricing among fertilizer manufacturers, the government will be able to facilitate new investments and promote efficiency to ensure sufficient urea availability for the farmers. Read more
The gold market in Pakistan continued its bullish streak for the seventh straight session, with the price of 24-karat gold climbing by Rs2,750 per tola to Rs228,150 on Thursday. Read more
Further strengthening Pakistan's presence on the global tech stage, a significant partnership has been forged between Jazz, Pakistan's premier digital operator, and TenX. Read more
Pakistan's leading ERP company has secured a transformative equity partnership with Saudi and Pakistani investors at the Tech destination Pakistan pavilion, a collaborative effort organized by the Pakistan Software Export Board (PSEB) and TDAP at LEAP 2024. Read more
On the directions of the newly elected Prime Minister, Muhammad Shehbaz Sharif, the Federal Board of Revenue (FBR) has instructed Field Formations to process all Sales Tax Refund claims within 30 days. Read more
The Securities and Exchange Commission of Pakistan (SECP), under the auspices of the federal government, has notified amendments to the Corporate Restructuring Companies Rules, 2019. Read more
Moody's Ratings has maintained its overall stable outlook on Asia-Pacific’s (APAC) banking systems. Read more
Sazgar Engineering Works Limited (PSX: SAZEW) witnessed a substantial drop in the sale of its auto rickshaws in February 2024, with 1,524 units sold compared to the sale of 2,229 three-wheelers in the previous month. Read more
The Administrator General Zakat has notified the Nisab of Zakat for the upcoming Zakat year 1444-45 A.H, setting the minimum amount at Rs135,179/- (Rupees One Hundred Thirty-Five Thousand One Hundred Seventy-Nine only). Read more
Sui Northern Gas Pipelines Limited (PSX: SNGP) has accorded approval for supplying a 25:75 blend of indigenous gas and RLNG to the Entire Industrial Sector with effect from March 01, 2024. Read more
In a landmark development for the mineral sector of Pakistan, Frontier Works Organization (FWO) and Pakistan Petroleum Limited (PPL) have signed an agreement for the exploration of minerals. Read more
Despite media reports suggesting the continuity of the International Monetary Fund (IMF) program as one of the most significant near-term economic risks, Pakistan’s economic situation should see incentives aligned for the new government to come together to seek an agreement with the IMF. Read more
Goldman Sachs and the International Monetary Fund (IMF) expect interest payments as a share of GDP in Pakistan to fall meaningfully as inflation and rates normalize and the debt-to-GDP ratio to fall substantially. Read more
The Pakistani Rupee (PKR) is nearly 20% undervalued on a 12-month horizon and offers about 26% nominal carry, according to Goldman Sachs’ GSDEER framework. Read more
There is potential for an improvement in Pakistan's credit rating alongside its USD bonds, with expectations for the yield curve to steepen. Read more
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Posted on:2024-03-08T08:30:54+05:00
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