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The Federal Board of Revenue (FBR) in order to meet its budgetary targets and recovery of taxes has directed its field formations to apply for vacation of stay orders before the High Courts, whereby the chargeability and collection of sales tax on supply of CNG have been stayed in different petitions.

Karachi Stock Exchange continued to post a positive momentum during the last week ending on November 21, and the benchmark KSE-100 closed at 31,495 points, up by 0.5 per cent. Followed by cut in policy rate by the SBP, during the week the KSE-100 also touched a new high, however, the market could not sustain its upward journey due to profit-taking in selected scrips.
Karachi Stock Exchange continued to post a positive momentum during the last week ending on November 21, and the benchmark KSE-100 closed at 31,495 points, up by 0.5 per cent. Followed by cut in policy rate by the SBP, during the week the KSE-100 also touched a new high, however, the market could not sustain its upward journey due to profit-taking in selected scrips.
The futures spreads rose by 196 basis points to reach 6.14 per cent during the outgoing week ended on November 21, 2014. During the last week, trading activity on the futures counter witnessed an upward trend and average daily volume surged by 31.3 per cent to 25.16 million shares. Similarly, with an increase of 24.3 per cent, the average daily trading value stood at Rs 2.782 billion at the end of the last week.
The OPEC oil producers cartel will hold one of its toughest and most significant meetings in recent years as, faced with sliding prices, its members must contemplate whether to cut output. Ahead of Thursday's meeting of the Organisation of Petroleum Exporting Countries in Vienna, home to the cartel's headquarters, its dozen member countries are split on what direction to take after a 30 percent drop in crude prices since June has slashed revenues.
China's leadership and central bank are ready to cut interest rates again and also loosen lending restrictions, concerned that falling prices could trigger a surge in debt defaults, business failures and job losses, said sources involved in policy-making. Friday's surprise cut in rates, the first in more than two years, reflects a change of course by Beijing and the central bank, which had persisted with modest stimulus measures before finally deciding last week that a bold monetary policy step was required to stabilise the world's second-largest economy.
Tokyo investors are likely to be cautious next week about a possible market downturn, analysts said Friday, while political developments in Japan will be a focus ahead of an election next month. "The market continues to show all the signs of being technically overbought and potentially ready for a pullback," said Masayuki Doshida, senior market analyst at Rakuten Securities.
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Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95






Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln