Mettis Global

GSK’s Nucala shows promise in COPD trial GSK PLC has reported promising results from its Phase III MATINEE clinical trial, which evaluated the effectiveness of Nucala (mepolizumab) in treating chronic obstructive pulmonary disease (COPD). Read the full story at https://lnkd.in/d5ycjZcG

Cabinet approves 15-day extension for sugar export, SBP orders strict compliance The Federal Cabinet has approved a 15-day extension for the shipment of sugar export consignments, adding to the previously allowed 45-day period. Following this decision, the State Bank of Pakistan (SBP) has directed Authorized Dealers (ADs) in Foreign Exchange to promptly inform their clients of these updated instructions and ensure strict adherence to the new guidelines. Read the full story at https://lnkd.in/dH6B-pUs

Foreigners pull out largest T-Bill amount in 30 months Foreign investors pulled a record amount of money from Pakistani T-Bills in the first half of August, the largest monthly outflow since March 2022, with 15 days still to go. T-Bills through Special Convertible Rupee Accounts (SCRA) showed a net outflow of $78.15 million as of August 16, 2024, according to the central bank data. Read: https://lnkd.in/d53EA-nA

PKR appreciates by 0.11 rupees or 0.04% against USD to settle at 278.57 in today's interbank session. WoW: -0.03 rupees or -0.01% MTD: -0.03 rupees or -0.01% FYTD: -0.22 rupees or -0.08% CYTD: 3.29 rupees or 1.18% Read: https://lnkd.in/d68-aenP

Govt targets to raise Rs860bn through GIS auction from Sep-Nov The government is targeting to raise Rs860 billion during the next three months (September-November) of 2024, through the auction of GOP Ijara Sukuk (GIS) that will be conducted by the Pakistan Stock Exchange Limited (PSX). Read https://lnkd.in/dV_WSRaw

Sensitive Price Indicator (SPI) for week ended Sep 05, 2024: -0.15% WoW +14.07% YoY Fourth consecutive weekly decline

Agriauto Industries suffers Rs84m loss in three months Agriautos Industries Limited (PSX: AGIL) incurred a loss after tax of Rs84.11 million [LPS: Rs2.34] in the April-June quarter, a stark contrast compared to a profit of Rs56.67m [EPS: Rs1.57] in the same period last year (SPLY). The loss comes despite a jump in sales revenue and improved gross profit. Read the full story at https://lnkd.in/dfdnv8pJ

Symmetry Group board approves formation of wholly owned UAE subsidiary The Board of Directors of Symmetry Group Limited (PSX: SYM) has approved the formation of the wholly owned subsidiary in UAE, according to the company's latest filing on PSX. Read the full story at https://lnkd.in/dAPNjXDS

PCICL urged to focus on target markets for enhanced SME opportunities Pak China Investment Company Limited (PCICL) must reposition itself with a clear target market focus to identify joint venture and SME opportunities and provide advisory and financial support to enhance investment and trade flows. Read the full story at https://lnkd.in/d4Di996X

Pakistan gold reserves rise $183m to $5.23bn Pakistan's gold reserves, which include gold deposits and swapped gold rose to $5.23 billion as of August 2024, up $183.08 million or 3.6% compared to last month. The increase was due to an appreciation in gold prices. The yellow metal is up 22% so far this year as investors brace for the start of monetary easing by the Federal Reserve this month. Read https://lnkd.in/ddzMNbG7