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US stocks were higher in late morning trading on Wednesday, rebounding from steep losses a day earlier, after China intervened to support its financial markets and help stem a global equities selloff. Eight of the 10 major S&P sectors were higher with the technology index's 1.2 percent rise leading the advancers. Apple, Microsoft and Intel were all up about 2 percent. However, Netflix fell 3 percent after Citron Research recommended a short call on the stock.

China would extend assistance to Pakistan at 1.6 percent interest rate for infrastructure projects under the China-Pakistan Economic Corridor (CPEC), it is learnt. Member, Infrastructure and Regional Connectivity of Planning Commission Malik Ahmad Khan confirmed that China would extend assistance to Pakistan at 1.6 percent interest for infrastructure projects under CPEC. "We wanted China to reduce this rate from 1.6 percent to 1 percent. And the Finance Division is making efforts in this regard," he added.
Chinese President Xi Jinping on Wednesday said his country attaches high priority to its strategic partnership with Pakistan and will always support it on all international and regional issues. The Chinese President in a meeting with President Mamnoon Hussain said "China values its deep-rooted friendship with Pakistan and considers it a high priority in its foreign policy," Prime Minister's Special Assistant Tariq Fatemi told APP following the meeting of the two leaders that took place at the China's Great Hall of People.
Senate Standing Committee on Commerce on Wednesday grilled Commerce Ministry for preparing a "visionless" Strategic Trade Policy Framework (STPF) 2015-18 and continuous decline in exports. However, Chief Executive Officer (CEO), Trade Development Authority of Pakistan (TDAP), S.M. Munir, warned that exports are unlikely to increase until government depreciates the rupee by 10 per cent on the pattern of India and pay timely refunds to exporters.
The federal government and provinces on Wednesday weighed various options to protect the agriculture sector from declining prices of agriculture products in the international market. An official said that a consultative meeting on agriculture products and Basmati rice was held on Wednesday with Prime Minister Nawaz Sharif in the chair and various options were discussed during the meeting.
The Economic Co-ordination Committee (ECC) of the Cabinet is likely to consider a bailout package of Rs 4.2 billion for Pakistan Steel Mills (PSM) today (Thursday). Sources said that a meeting of the ECC has been convened to consider import of urea fertiliser for Kharif season (April-September 2015). An official said that the meeting would also consider a bailout package of Rs 4.2 billion for PSM for raw material and employees' salaries for June-September 2015.
ImagePrime Minister Nawaz Sharif on Wednesday said the hearts of Pakistanis beat in unison with the Kashmiris and warned the incidents of firing along the Line of Control were a threat to international peace. "Our patience should not be taken as our weakness ... desire for peace is our strength," the Prime Minister told a gathering after inaugurating a string of development projects in Azad Jammu and Kashmir.
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Index Closing Chg%
Arrow DJIA 16,351.38 1.82
Arrow Nasdaq 4,749.98 2.46
Arrow S&P 1,948.86 1.83
Arrow FTSE 6,083.31 0.41
Arrow DAX 10,048.05 0.32
Arrow CAC-40 4,554.92 0.30
Arrow Nikkei 18,095.40 0.39
Arrow H.Seng 20,934.94 1.18
Arrow Sensex 25,453.56 0.95





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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