Morning Shout - 24th Aug 2021

IMF’s historic funding takes effect, $2.7bn for Pakistan
The International Monetary Fund’s (IMF) largest-ever allocation of
$650 billion in Special Drawing Rights (SDR) became effective on
Monday and can bring about $2.7 billion of additional funding for
Pakistan as well.
https://www.dawn.com/news/1642285/imfs-historic-funding-takeseffect-27bn-for-pakistan
Pakistan up 59 points in Business Confidence Index: PM 
Prime Minister Imran Khan shared on Monday a survey of the
Overseas Investors Chambers of Commerce and Industry
(OICCI) showing a “dramatic rise” in the confidence of foreign
investors regarding the business environment in Pakistan.
https://tribune.com.pk/story/2316844/pakistan-up-59-points-inbusiness-confidence-index-pm
Proposals made by PSX will be examined: Tarin 
In a welcome development for Pakistan Stock Exchange (PSX),
the Federal Minister for Finance & Revenue, Shaukat Tarin visited
the Stock Exchange on Friday (Aug 20). He was accompanied by
Dr. Waqar Masood Khan – Special Assistant to the Prime Minister
and Asim Ahmad – Chairman, FBR.
https://epaper.brecorder.com/2021/08/24/5-page/898011-news.html
Pakistan, KSA agree to boost cooperation in diverse fields
Pakistan and Saudi Arabia have agreed to strengthen
cooperation in diverse fields through continued close
collaboration on all issues of common interest, including
Afghanistan. This was agreed during a telephonic conversation
between Foreign Minister Shah Mahmood Qureshi and his Saudi
counterpart Faisal bin Farhan Al Saud.
https://epaper.brecorder.com/2021/08/24/3-page/897991-news.html
Forex regulatory approval system digitised 
The State Bank of Pakistan (SBP) has completed digitisation of the
regulatory approval system for foreign exchange cases aiming to
support ease of doing business.
https://www.dawn.com/news/1642298/forex-regulatory-approvalsystem-digitised
Commodities, construction materials: PM orders unhindered
supply 
Prime Minister Imran Khan Monday directed all concerned
authorities to take every possible step for ensuring uninterrupted
supply as per the demand for raw materials used in construction
as well as basic commodities like ghee and to ensure stability in
the prices of these commodities.
https://www.brecorder.com/news/40115237/commoditiesconstruction-materials-pm-orders-unhindered-supply

Pakistan in control, China to cement grip in Afghanistan’s new
Great Game 
The Russian and British empires battled over Afghanistan in the
19th century, and the United States and the Soviet Union in the
20th. As the Taliban take over in the strategic, landlocked nation,
the new Great Game has Pakistan in control, with its ally China
looking to cement its grip on the region.
https://tribune.com.pk/story/2316847/pakistan-in-control-china-tocement-grip-in-afghanistans-new-great-game
Oil, ghee manufacturers agree to reduce prices 
The Pakistan Vanaspati Manufacturers Association (PVMA) has
agreed in principle to take measures in the next couple of days to
bring down prices of edible oil/ghee.
https://www.dawn.com/news/1642299/oil-ghee-manufacturersagree-to-reduce-prices
Asian stocks rally on extended Wall St bounce, easing Fed taper
worries 
Asian stocks rose on Tuesday on an extended bounce on Wall
Street as investors drew comfort from full approval granted to the
Pfizer/BioNTech vaccine and on easing worries of an imminent
tapering of stimulus by the Federal Reserve.
https://www.investing.com/news/stock-market-news/asian-stocksrally-on-extended-wall-st-bounce-easing-fed-taper-worries2597588
Oil Up, Fuel Demand Outlook Clears Over Full Vaccine Approval
Oil was up Tuesday morning in Asia, with the U.S. granting the first
global full approval for a COVID-19 vaccine, and the expected
boost in vaccination rates to follow, increasing hopes for higher
fuel demand.
https://www.investing.com/news/commodities-news/oil-up-fueldemand-outlook-clears-over-full-vaccine-approval-2597603
U.S. business borrowing for equipment rises 9% in July – ELFA
Borrowings by U.S. companies for capital investments rose 9% in
July from a year earlier, the Equipment Leasing and Finance
Association (ELFA) said on Monday.
https://www.investing.com/news/economy/us-businessborrowing-for-equipment-rises-9-in-july–elfa-2597353
Delta variant, supply woes crimp business activity in August -IHS
Market survey 
U.S. business activity growth slowed for a third straight month in
August as capacity constraints, supply shortages and the rapidly
spreading Delta variant of the coronavirus weaken the
momentum of the rebound from last year’s pandemic-induced
recession.
https://www.investing.com/news/economic-indicators/deltavariant-supply-woes-crimp-business-activity-in-august-ihs-markitsurvey-2597004