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Various parts of the city on Friday faced a major power breakdown following tripping of 500 KV NTDC (National Transmission and Dispatch Company) which, according to K-Electric officials, rendered its power generating units and EHT transmission circuits temporarily ineffective.

Pakistan and India will reportedly negotiate a trade deal afresh as the two previous understandings - in December 2012 by PPP government and in March 2014 by incumbent government - failed to materialise due to Pakistan's internal politics.
The Economic Co-ordination Committee (ECC) of the Cabinet chaired by the Finance Minister Ishaq Dar has reportedly allowed extension in duty-free import of potato from India till November 15 instead of 31 December 2014 as requested by Ministry of National Food Security and Research (MNFSR).
In order to encourage consumer financing, State Bank of Pakistan (SBP) has allowed financing of cars older than five years and up to nine years. Earlier, financing of cars up to five years old was allowed and with this move, the banks can now finance cars older than five years to facilitate the consumers.
The Federal Board of Revenue (FBR) has made it mandatory for the airlines, issuing international air tickets, to make adequate arrangements for collection of advance tax from the persons issuing tickets on its behalf or through electronic means under section 236L of the Income Tax Ordinance, 2001. The FBR on Friday proposed amendments to the Income Tax Rules 2002 through an SRO.698(I)/2014 on the advance tax on airlines.
Britain's economy is now bigger than it was before the financial crisis struck six years ago after strong growth in the second quarter that keeps it on track to lead the way among developed countries this year. The return to its pre-crisis size comes years after other major economies passed the same landmark but will be a relief for the government ahead of a national election in 2015.
Securities and Exchange Commission of Pakistan (SECP) has directed all investment banks to use their complete and legal names, eg "ABC Investment Bank Limited" instead of abridged names, eg "ABC Bank" as the use of abridged name can incorrectly portray them as commercial banks in the eyes of the general public. The SECP's direction is based on the rationale that the nature of business and regulatory framework for commercial banks and investment banks are totally different.
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Index Closing Chg%
Arrow DJIA 16,960.57 0.72
Arrow Nasdaq 4,449.56 0.50
Arrow S&P 1,978.34 0.48
Arrow FTSE 6,791.55 0.44
Arrow DAX 9,644.01 1.53
Arrow CAC-40 4,330.55 1.82
Arrow Nikkei 15,457.87 1.13
Arrow H.Seng 24,216.01 0.31
Arrow Sensex 26,126.75 0.55





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Banking Review 2013


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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln