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ImageAccording to Press reports, the International Monetary Fund (IMF) has started probing the figures presented by the government regarding fiscal deficit, expenses and revenue collection. This has been done in the wake of discrepancies discovered and highlighted by independent observers, including these writers, alleging deliberate exaggeration of revenue collection and understating expenses. The exposure irked the government and rejoinders were issued by the Ministry of Finance at its website dismissing the "allegations" as unfounded and baseless. Reportedly, now the IMF has taken the cognisance of the claims and counter claims, though no official confirmation is available. Figure fudging is not new to the Pakistan Muslim League (Nawaz). In fact, Pakistan was fined by IMF during the last tenure of Ishaq Dar for what his successor Shaukat Aziz called deliberate figure fudging. As expected from worthy Finance Minister of PML (N) for the second term, no lessons were leant from history, or what some people would aptly say old habits die hard.

Channeling money through 'hound' and avoiding the legitimate financial system is one of the best methods of "whitening" dirty money. In layman's words, money-laundering is conversion of dirty money into clean money through avoiding the legal financial system. The Anti-Money Laundering (AML)/Combating Financing Terrorism (CFT) Regime was put in place because of the nexus between corruption and terrorism through organised crime. To eliminate these all available governmental instruments and means, particularly NAB, FIA, police and Financial Monitoring Unit (FMU), must be utilised.
China's unveiling of "carrier-killer" missiles and cuts in troop numbers on Thursday underlined its shift towards naval strength amid growing Pacific rivalry with the US, analysts said. More than a dozen anti-ship ballistic missiles capable of travelling at 10 times the speed of sound were shown at a massive military parade in Beijing, with state television calling them a "trump card" in potential conflicts and "one of China's key weapons in asymmetric warfare".
"Did you hear that pig meat was being sold in Punjab?"
PPP co-Chairman Asif Ali Zardari has delivered a second tirade in about as many months, this time switching the target from the military establishment to the PML-N government, telling it to stop the "politics of revenge" otherwise there could be "disastrous consequences." The cause of his fury is the same as before.
Attorneys engaged in handling transnational businesses operate in many different ways. The work relating to transitional businesses is quite complex and it requires that lawyers in this type of work must have a basic understanding of the transnational aspects of the law. For example, disputes relating to corporations often involve the application of international law and in many cases the nationality of a corporation becomes an issue. Accordingly, this article examines the issue of nationality of corporations and its various colours.
Germany is a nation of chocolate-lovers, but they don't have to dig too deep in their pockets to feed their sweet tooth. That could change with the price of cocoa and other ingredients on the rise. Stuttgart (dpa) - The yo-yoing cost of commodities has left many of Germany's chocolate makers struggling to keep down the price of their product. The cost of ingredients such as cocoa, hazelnuts and almonds is hard to predict and 2015 is proving to be a particularly hard year for chocolate companies.

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln