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The Karachi share market witnessed another bull-run on Thursday amid hopes for a political patch-up to end the stand-off in Islamabad. The benchmark KSE-100 index gained 200 points to close at 28,865 points compared to 28,665 points Wednesday. "Political tensions started easing after the government began negotiations with the parties protesting in Islamabad," said Samar Iqbal, Assistant Vice President Equity Sales, Topline.

The Karachi share market witnessed another bull-run on Thursday amid hopes for a political patch-up to end the stand-off in Islamabad. The benchmark KSE-100 index gained 200 points to close at 28,865 points compared to 28,665 points Wednesday. "Political tensions started easing after the government began negotiations with the parties protesting in Islamabad," said Samar Iqbal, Assistant Vice President Equity Sales, Topline.
State Bank of Pakistan on Thursday termed the prevailing political uncertainty a threat to the country's gradually improving economy. "The recent political uncertainly has impacted negatively on the economic front particularly stock market and exchange rate," said Hamza Malik, Director Monetary Policy Department. Talking to newsmen here on Thursday at State Bank head office, Malik, who is also acting chief spokesman for SBP, said that recent depreciation of Pak rupee against dollar is due to political turmoil in the country.
Tariq Bajwa, Secretary Revenue Division/Chairman Federal Board of Revenue has strongly denied having any association with a Facebook account in his name, under the link www.facebook.com/tariq.bajwa.9469. He has vehemently stated that this is a fake account and he is not associated with it in any way and all correspondence made on his behalf is false. The Facebook administration has been contacted to block/remove the said fake account, the FBR press release added.
German engineering giant Siemens said Thursday it has won a contract worth 650 million euros ($862 million) to supply wind turbines to Norwegian power groups Statoil and Statkraft. "Siemens Energy has received an order from the Norwegian energy utilities Statoil and Statkraft for the 'Dudgeon Offshore Wind Farm' in Britain," the German group said in a statement.
Current political turmoil in the country has marred government's plans to establish ten coal fired power plants of 6600 MW capacity (660 MW each) as the response from investors is negligible, well informed sources told Business Recorder. Private Power Infrastructure Board (PPIB) had sought Expressions of Interest from the potential international and national investors till August 18.
Bank of America agreed Thursday to a record nearly $17 billion deal with US authorities to settle claims it sold risky mortgage securities as safe investments ahead of the 2008 financial crisis. The bank said it would pay out $9.65 billion in cash and provide $7.0 billion in relief to consumers affected by losses tied to those securities.
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Index Closing Chg%
Arrow DJIA 17,039.49 0.36
Arrow Nasdaq 4,532.11 0.12
Arrow S&P 1,992.37 0.29
Arrow FTSE 6,777.66 0.33
Arrow DAX 9,401.53 0.93
Arrow CAC-40 4,292.93 1.23
Arrow Nikkei 15,586.20 0.85
Arrow H.Seng 24,994.10 0.66
Arrow Sensex 26,360.11 0.17





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln