MORNING SHOUT - 11TH AUG 2021
US in talks with Pakistan over ‘terrorist safe havens’ along Afghan
border: Pentagon (Neutral)
The Pentagon has said the alleged presence of “terrorist safe
havens” along the Pak-Afghan border was causing instability
inside Afghanistan and the United States was in talks with Pakistani
leadership for “closing down” such sanctuaries.
$2.7bn remittances arrive in July (Positive)
With $2.7 billion inflows, workers’ remittances maintained strong
trend in the first month of this fiscal year. Although home
remittances arrived during July 2021 were some 2.1 percent lower
than July 2020, they remained above the $2.0 billion mark for the
14th consecutive month.
Massive incentives approved for IT, telecom sector: Amin
The government Tuesday resolved longstanding issues and
approved massive incentives for information technology and
telecom sector, including revising and expanding the tax
definition of IT/ITeS industry in consultation to ensure coverage of
all the sub-sectors.
RLNG-fired plants: Govt decides to go for debt re-capitalization,
The government has reportedly decided to go for debt recapitalization and refinancing of Rs 103.765 billion of two RLNGfired plants from local banks and DFIs before their equity sale,
sources close to Finance Minister told Business Recorder.
Privatisation program: SLIC delisting to be approved today
The Privatisation Commission (PC) Board, which is scheduled to
meet on today, will approve delisting of State Life Insurance
Corporation (SLIC) from the ongoing privatisation programmeapproved list of entities, sources close to Advisor to Prime Minister
on Commerce and Investment told Business Recorder.
RLNG-based power plant: KE, PLL sign GSA (Neutral)
Karachi Electric (KE) and CEO Pakistan LNG Limited (PLL) Tuesday
signed a Gas Supply Agreement (GSA) for the provision of 150
MMCFD RLNG for power utility’s 900 MW RLNG-based power plant
at Port Qasim.
Lucky gets permission to set up assembly plant for Samsung
mobile devices (Neutral)
The Pakistan Telecommunication Authority (PTA) has formally
allowed Samsung, a South Korean electronics giant, to start
production of its mobile phone devices in the country through its
local partner Lucky Motor Corporation Ltd.
Monetary benefits to expats: ‘NRLP’ being launched to encourage
official channel (Neutral)
The government has reportedly decided to launch National
Remittance Loyalty Program (NRLP) aimed at offering monetary
and other benefits to lure Overseas Pakistanis to use official
channel, well informed sources told Business Recorder.
Dollar, U.S. yields gain, Asian shares held back by Delta worries
The dollar and U.S. yields extended gains in Asia on Wednesday,
spurred by tapering talk, while Asian shares traded sideways on fears about the spread of the coronavirus despite a record close on Wall Street.
Oil Up Over Brighter Fuel Demand Outlook, but COVID-19
Challenges Remain (Neutral)
Oil was up Wednesday morning in Asia thanks to a brightening
fuel demand outlook, but the growing number of COVID-19 cases
globally capped gains for the black liquid.
U.S. Senate pivots to $3.5 trillion bill, key to Biden’s agenda
The Democratic-controlled U.S. Senate on Tuesday passed a
massive infrastructure bill and immediately kicked off debate on a
$3.5 trillion spending blueprint for President Joe Biden’s key priorities
on climate change, universal preschool and affordable housing.
Singapore upgrades 2021 GDP outlook as vaccinations gain pace
Singapore’s bellwether economy expanded more than initially
estimated in the second quarter and the government raised its
forecast for 2021 as COVID-19 vaccinations progressed at home
and in other key markets.