【Daily】2 Nov. Brief of Pak BizNews
KSE 100 46,974.78 ▲ 1.71%
KASB Tech Index 467.41 ▲ 2.67%
· The KSE 100 index skyrocketed to intra-day high of 47,252 points by midday over news reports on the potential resumption of the IMF program. However, the announcement of a surge in October’s Consumer Price Index (CPI) erased some of the gains and the market succumbed to profit booking as the investors pulled the market below the 47k level.
· The cement sector emerged as the top performer, contributing 151pts on expectations of strong earnings in light of rising cement prices and falling coal prices
· The technology sector topped the charts with a turnover of 129mn shares.
Jul-Oct trade deficit swells 104pc YoY
ISLAMABAD: The country's trade deficit has swelled by 104 percent to $ 15.525 billion during the first four months (July-October) 2021-22 from $ 7.617 billion in the corresponding period of financial year 2020-21.
July-October: Govt suffers around Rs203bn revenue loss on PL, GST
ISLAMABAD: Federal government has suffered a cumulative revenue loss of around Rs 203 billion on account of Petroleum Levy (PL) and general sales tax (GST) during the first four months (July-October) of financial year 2021-22.
Oct CPI inflation up 9.19pc YoY
ISLAMABAD: The Consumer Price Index (CPI) witnessed an increase of 9.2 percent on year-on-year basis in October 2021 as compared to an increase of nine percent in the previous month and 8.9 percent in October 2020, says the Pakistan Bureau of Statistics (PBS).
Completion of MEFP terms in IMF review: Deadlock on execution timeline remains a hurdle
ISLAMABAD: The deadlock on the timeline of implementing the qualitative and quantitative conditions contained in the Memorandum of Economic and Financial Policies (MEFP) remains a hurdle in the successful completion of the 6th review under the $6 billion Extended Fund Facility (EFF).
Prices of domestic, commercial LPG cylinders increased
ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Monday has raised the prices of domestic and commercial LPG cylinders by Rs 13 per kg for November when demand of the fuel increased manifold.
FFC wins award
RAWALPINDI: FFC won best Corporate Excellence Award in Fertilizer Sector for Seventh consecutive year as adjudged by Management Association of Pakistan (MAP). Brig Asrat Mahmood (Retd), the Company Secretary, and Syed Imran Rizvi, Head of Shares, received the award.
Xiaomi partners with Air Link to manufacture smartphones in Pakistan
In another boost to Pakistan's mobile phone manufacturing capability, Chinese giant Xiaomi has partnered with assembler and distributor Air Link Communication Limited to manufacture Xiaomi mobile phones in Pakistan.
Fourth successive gain: Pakistan's rupee closes at 171.29 against US dollar
Pakistan's rupee maintained its strength against the US dollar, appreciating for the fourth successive session to close at 171.29 in the inter-bank market on Monday.
Commodities and Currency: 1-Day Change