The caretaker Punjab government has levied a 16 percent provincial sales tax (PST) on a slew of services, including guest houses, motels, marriage halls & lawns and pandal & shamiana. Others are contractual execution of work; foreign exchange dealers and money changers; beauty parlours, slimming clinics, cosmetic surgery; and management consultancy, including fund and asset management.

European leaders have decided youth unemployment and the risk of social breakdown are among the toughest challenges they face and finding solutions will be a top priority for the coming months. In a letter released late on Friday, European Council President Herman Van Rompuy said youth unemployment was one of the most pressing issues for the 27-member European Union.

IMF Chief Christine Lagarde avoided immediate charges on Friday but was named an "assisted witness" after French prosecutors grilled her for two days over a state payout to a disgraced tycoon when she was finance minister. Lagarde was questioned for a total of 24 hours by prosecutors working for a court that probes cases of ministerial misconduct over her 2007 handling of a row that resulted in 400 million euros ($515 million) being paid to controversial business figure Bernard Tapie.