【Daily】4 Nov. Brief of Pak BizNews
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KSE 100 42,091 ▲0.35% KMI 30 71,149 ▲0.28% KASB Tech Index 510 ▲1.96%
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National News
Imran shot at, injured during ‘Azadi’ rally Former Prime Minister Imran Khan was shot in the shin on Thursday when his anti-government protest convoy came under attack in the east of the country in what his aides said was a clear assassination attempt. https://epaper.brecorder.com/2022/11/04/1-page/946578-news.html
THE RUPEE: PKR registers back-to-back losses Pakistan’s rupee registered back-to-back losses against the US dollar on Thursday, and declined 0.23% in the inter-bank market, as the greenback rose against other currencies after the Federal Reserve delivered another steep interest rate increase last night. https://epaper.brecorder.com/2022/11/04/1-page/946585-news.html
Export-oriented sectors to get power at an all-inclusive rate of Rs19.99 per unit The country’s influential five zero-rated sectors, referred to as export-oriented sectors will be charged Rs 19.99 per unit electricity all-inclusive whereas domestic consumers are being charged over Rs 40 per unit. https://epaper.brecorder.com/2022/11/04/1-page/946584-news.html
BoE raises rates The Bank of England raised interest rates by the most since 1989 on Thursday but it also warned that Britain faced a long recession and told investors borrowing costs were likely to go up by less than they expect. https://epaper.brecorder.com/2022/11/04/1-page/946582-news.html
Over 3.7m cotton bales reach factories Seed cotton (Phutti) equivalent to over 3.7 million or exactly 37,07693 bales has reached ginning factories across the country till November 1,2022, with a decrease of 40.74 percent as compared to corresponding period of last year. https://www.brecorder.com/news/40206991/over-37m-cotton-bales-reach-factories
Exchange firms allowed to sell 20pc of remittances in open market The State Bank of Pakistan (SBP) has allowed exchange companies to trade 20 percent of remittances in the open market to ease pressure on the rupee, industry officials said on Thursday.
FX reserves rise to $14.679bn Pakistan’s foreign exchange reserves increased by $1.517 billion to $14.679 billion during the week ended October 28 on inflows from the Asian Development Bank (ADB), the central bank said on Thursday. https://www.thenews.com.pk/print/1006396-fx-reserves-rise-to-14-679bn
Cement sales continue to lose strength Cement dispatches declined by 18.46 percent in October 2022. Total Cement dispatches during October 2022 were 4.252 million tonnes against 5.215 million tonnes dispatched during the same month of last fiscal year. https://www.thenews.com.pk/print/1006397-cement-sales-continue-to-lose-strength
Commodities and Currency: 1-Day Change
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