【Daily】12 May. Brief of Pak BizNews
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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.
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.
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.
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
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