MORNING SHOUT - 7TH SEP 2021
Terrorists behind Gwadar, Quetta incidents came from Afghanistan
Addressing a press conference, the minister said that suicide
bombers in Gwadar blast, took place on August 20 and another
explosion targeting FC convoy on Mastung Road in Quetta, had
been identified adding he said that they had come from
CCI approves power generation capacity expansion plan
The Council of Common Interests (CCI) has approved least cost
basis (open competitive bidding) Indicative Generation Capacity
Expansion Plan (IGCEP) model, energy minister said on Monday.
Stringent steps planned to avert looming BoP crisis
The government plans to adopt more vigorous fiscal and
monetary measures and also higher trade barriers on luxury
imports to help tackle a looming balance of payment (BoP) crisis
after the trade gap in the first two months of FY2021-22 touched a
record high, officials said on Monday.
Steel makers in war of words with builders
Pakistan Association of Large Steel Producers (PALSP) on Monday
rejected the `irresponsible’ statements made by Association of
Builders and Developers (ABAD) against the steel sector and said
that real estate builders and developers were the biggest barriers
to affordable housing in the country.
Fauji Foods to raise Rs7.8bn via rights issue
Fauji Foods will raise Rs7.8 billion by issuing rights shares at the price
of Rs10 apiece, a stock filing said on Monday. The 10th largest
listed food company in terms of total sales is going to increase its
paid-up capital by issuing 780.8 million shares to its stockholders in
the proportion of 97.2 rights shares for every 100 ordinary shares.
Details of deemed duty collection sought
The government has asked all six oil refining facilities in the country
to provide full details of Deemed Duty (DD) collected on
petroleum products since its inception two decades ago along
with third party audits of its utilisation.
Pakistan eyes launch of 5G in 2023
As the telecom industry’s market size has grown to $16.9 billion
after attracting $1.2bn in foreign direct investments in the last
three years, the Ministry of Information Technology and Telecom is
aiming to roll out 5G in 2023.
Efforts afoot to attract foreign investment: PM
Prime Minister Imran Khan said the government was struggling for
establishment of rule of law in the country to attract foreign
investment and promote tourism.
World shares at record high as investors count on Fed largesse
Global stocks inched higher on Tuesday to a record high for the
eight straight session as investors wagered the U.S. Federal Reserve
is likely to delay the start of tapering its asset purchases after the
soft U.S. jobs data.
Oil Mixed, Impact from Saudi Price Cuts and OPEC+ Supply
Oil was mixed Tuesday morning in Asia. Fuel demand remains a
concern as investors continue to digest Saudi Arbia’s sharp cuts to
crude contract prices. Saudi Aramco (SE:2222) cut October
official selling prices (OSPs) for all crude grades sold to Asia by at
least $1 a barrel earlier in the week.
Dollar drifting as traders turn to central bankers
The dollar hovered near recent lows on Tuesday as traders braced
for a slew of central bank meetings from Australia to Europe and
Canada this week, looking for any signs that they are making
progress towards policy normalisation.
China’s Aug exports growth unexpectedly picks up speed in boost
China’s exports unexpectedly grew at a faster pace in August, as
solid global demand offset some of the pressure on the world’s
second-biggest economy from a resurgence of domestic COVID19 cases and supply bottlenecks.