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【Daily】12 May. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro May 12, 2022

-Daily Market-

KSE 100 42,863.2 ▼ 1.47%

KMI 30 69,006.7 ▼ 1.53%

KASB Tech Index 265.9 ▼ 2.04%

 

KASB Market View

·        With the current macroeconomic headwinds, we expect cyclical sectors including cement, steel and autos to remain under pressure.

·        Market participants await clarity on policy reforms by the new government and restoration of IMF program to build positions.

·        WorldCall Telecom was the volume leader with 31.4mn shares, followed by Cnergyico with 24.8mn shares and Pak Elektron with 16.8mn shares.

 

National News

 

PM Shehbaz meets PML-N supremo Nawaz in London

Prime Minister Shehbaz Sharif on Wednesday met his elder brother and PML-N supremo Nawaz Sharif in London.

https://www.dawn.com/news/1689146/pm-shehbaz-meets-pml-n-supremo-nawaz-in-london

 

Russian importers seek deals with India's smaller firms to sidestep sanctions

Russian importers are reaching out to small Indian businesses to secure fresh produce, auto parts, medical devices and other key goods that are growing scarce due to international sanctions, people familiar with the matter in both Russia and India said.

https://www.dawn.com/news/1689147/russian-importers-seek-deals-with-indias-smaller-firms-to-sidestep-sanctions

 

Elections only after electoral reforms, says Zardari

PPP co-chair Asif Ali Zardari said on Wednesday that elections in the country would be held after the incumbent coalition government implements electoral reforms and amends the National Accountability Bureau (NAB) laws.

https://www.dawn.com/news/1689138/elections-only-after-electoral-reforms-says-zardari

 

Systems Limited acquires NdcTech

Systems Limited, a leading information technology company of Pakistan with a global footprint has entered into a definitive agreement to acquire 100 percent of National Data Consultant (Pvt.) Limited (NdcTech), a leading core and digital banking implementation service provider, along with its subsidiaries/associated companies in UAE and Singapore.

https://www.brecorder.com/news/40172450/systems-limited-acquires-ndctech

 

NA informed: $6.87bn received from Saudi Arabia, China during PTI’s tenure

Pakistan has received $ 6.87 billion from Saudi Arabia and China in the form of disbursements during the tenure of the last Pakistan Tehreek-e-Insaf (PTI) government.

https://www.brecorder.com/news/40172479/na-informed-687bn-received-from-saudi-arabia-china-during-ptis-tenure

 

Challenge of rising prices of essential items: PML-N, allies determined to take required steps: MPA Yasin

Pakistan Muslim League-Nawaz (PML-N) and its allies in Punjab are determined to take necessary steps to reduce prices of essential items and to provide relief to the masses.

https://www.brecorder.com/news/40172480/challenge-of-rising-prices-of-essential-items-pml-n-allies-determined-to-take-required-steps-mpa-yasin

 

PetroChina offers lowest bid for two LNG cargoes for June

Pakistan LNG Ltd (PLL) received the lowest spot price of $23.968 per mmbtu and $22.498 per mmbtu for two cargoes of LNG for the month of June.

https://www.brecorder.com/news/40172494/petrochina-offers-lowest-bid-for-two-lng-cargoes-for-june

 

Commodities and Currency: 1-Day Change

Gold

USD  1,855.61▲ 0.10%

Silver: 

USD 21.523 ▼ 0.24%

Crude Oil

USD 104.4 ▼ 1.20%

USD-PKR: 

Rs 190.75/USD ▲ 0.25%

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