【Daily】7 Dec. Brief of Pak BizNews
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KSE 100 43,280.77 ▲0.11% KASB Tech Index 410.83 ▲2.58%
KASB Market View · The market turned bullish on Monday as the benchmark KSE-100 rose by 48pts on the back of receipt of $3 billion from Saudi Arabia. Appreciation of the local currency against the US dollar lifted investor sentiment which contributed to a positive close. · Sectors contributing to the performance included exploration and production (124pts), technology (83pts) and power (26pts). Worldcall telecom was the volume leader with 16.6 million shares, followed by Telecard Limited with 12.57 million shares. · Going forward, the market is expected to remain under pressure and investors are recommended to book profits at higher levels.
National News
Nov cement despatches increase 10.21pc YoY LAHORE: Cement despatches registered an increase of 6.91 percent in November 2021 as total cement despatches during the month were 4.82 million tons against 4.5 million tons despatched during the same month of last fiscal year. https://www.brecorder.com/news/40138287/nov-cement-despatches-increase-1021pc-yoy
Govt to increase 50pc tariffs on import of cars ISLAMABAD: In a new development, the government has abandoned the proposal to ban the import of CBU (complete built-up unit) vehicles, rather it has proposed to impose for a limited time the regulatory duty by up to 50 percent on the imports of Electric Vehicles, Hybrid Vehicles and normal gasoline vehicles with a view to containing and slicing down the increasing import bill. https://www.thenews.com.pk/print/914760-govt-to-increase-50pc-tariffs-on-import-of-cars
Gas price hike petition of SSGC: Ogra holds public hearing, reserves verdict KARACHI: The Oil and Gas Regulatory Authority (OGRA) on Monday held a public hearing to seek comments from all stakeholders on Sui Southern Gas Company’s (SSGC) petition seeking increase of Rs.58.42 per mmbtu in gas price effective July 01, 2021.
$1bn ‘economic plan’ wins ADB’s approval ISLAMABAD: The Independent Evaluation Department (IED) of the Asian Development Bank (ADB) has rated the “Economic Stabilization Programme” of worth $1 billion for Pakistan as successful. https://www.brecorder.com/news/40138298/1bn-economic-plan-wins-adbs-approval
Telecard Ltd AGM on 24th KARACHI: The extra-ordinary general meeting of Telecard Limited will be held on December 24, at Islamabad to consider and to pass special resolution for change of the name of the Company from Telecard Limited to Telecore Technologies Limited subject to the approval of the Securities and Exchange Commission of Pakistan (SECP). https://www.brecorder.com/news/40138275/telecard-ltd-agm-on-24th
CNG stations in Punjab, KP: APCNGA rejects federal cabinet’s decision ISLAMABAD: The All Pakistan CNG Association (APCNGA) on Monday rejected the decision of the Cabinet to suspend supply of gas to the CNG stations in the Punjab and the Khyber-Pakhtunkhwa for an indefinite period.
Daily Change: 1-Day Change
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