【Daily】9 Nov. Brief of Pak BizNews
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KSE 100 47,115.04 ▼ 0.38% KASB Tech Index 512.36 ▼ 1.61%
KASB Market View · The benchmark KSE-100 index closed with a loss of 181pts amid inflationary concerns as both volumes and volume showed a decline. Late-day sell-off brought the market back towards 47k as the index closed at 47,15pts. · The tech sector emerged as the worst-performing as it eroded 45pts likely because of profit-taking after the sector’s recent recovery. · The technology sector topped the volumes chart with a turnover of 113mn shares.
National News Higher gas/RLNG rates: Punjab-based textile industry to resist govt move ISLAMABAD: The Punjab-based textile industry has reportedly decided to resist Minister for Energy’s move to charge over 100 per cent higher gas/RLNG rates from its units as compared to Karachi-based industry, well informed industry sources told Business Recorder.
Ex-mill price of sugar in Karachi reduced by Rs4/kg KARACHI: The ex-mill price of sugar has been reduced by Rs4 per kg in Karachi, says president Karachi grocers’ association. After the reduction of Rs4, the new ex-mill sugar price is Rs116per kg, while the item is being sold at Rs121 per kg in the city’s wholesale market, said President Karachi Grocers’ Association, Abdul Rauf. https://www.brecorder.com/news/40132138/ex-mill-price-of-sugar-in-karachi-reduced-by-rs4kg
Consumer Confidence Index declines to 70.8 points in Q3 KARACHI: Pakistan Consumer Confidence Index (CCI) has declined sharply 19.6 percent to 70.8 points in July-Sep of 2021 (Q3 CY21), compared to 88.0 points in April-June of 2021 (Q2 CY21). https://www.brecorder.com/news/40132120/consumer-confidence-index-declines-to-708-points-in-q3
SACM says Punjab govt has provided Rs5bn subsidy on sugar LAHORE: Terming the commencement of sugarcane crushing season by the Sindh government as a good step, Special Assistant to CM for Information and spokesperson to the Punjab Government Hasaan Khawar said on Monday that the federal and the Punjab governments have given a subsidy of Rs 5 billion on sugar. https://www.brecorder.com/news/40132083/sacm-says-punjab-govt-has-provided-rs5bn-subsidy-on-sugar
Rs38bn Pak-China OFC Phase-II project: Delay in execution to result in escalation of cost ISLAMABAD: The military-run Special Communication Organization (SCO) has warned that the delay in execution of Pak-China Optic Fiber Cable (OFC) Phase-II project worth around Rs38 billion will result in escalation of cost along with other associated complications, it is learnt.
KIA Lucky Motors increases prices of Sportage, Picanto and Carnival models KIA Lucky Motors Pakistan increased prices on various makes and models over the weekend, according to rates available on the company website. Although there was no official announcement, data available with dealers also says ex-factory prices of KIA Sportage, Picanto, and Carnival were increased by as much as Rs500,000.
Back to old ways: Pakistan's rupee falls against US dollar After an over 3% gain against the US dollar, Pakistan's rupee weakened on the opening day of the week, depreciating by 50 paisas in the inter-bank market on Monday. https://www.brecorder.com/news/40131981/back-to-old-ways-pakistans-rupee-falls-against-us-dollar
Daily Change: 1-Day Change
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