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Sindh Engro Coal Mining Company's (SECMC) 660 MW local coal-fired project being established in Thar is in doubt with Chinese banks unwilling to extend a loan for the power plant on a Pakistani sovereign guarantee. SECMC, however, believes that the flagship project will be out of the troubled waters with the help of government.

David Cameron furiously rejected a demand from Brussels for more than two billion euros in backdated charges at a summit Friday, setting up a new showdown over Britain's place in the EU. The prime minister hijacked a meeting that was meant to be focused on Europe's stalling economy, saying the "unacceptable" bill was a surprise and that Britain was being punished for running a successful economy.
Prime Minister Nawaz Sharif Friday directed Ministries of Petroleum & Natural Resources, Water & Power and Finance Division to ensure that an additional electricity of 2,400-2,500 MW comes to the system by February 2015, both in the case of LNG and new on-site generation.
Finance Minister Ishaq Dr has yet to arrange an interaction between the media and the Pakistan Bureau of Statistics (PBS) to discuss the methodology used to determine the disputed 4.1 percent growth rate. Finance Minister promised during the press briefing at the launch of Economic Survey 2013-14 that he is ready to arrange an interaction between the media and the PBS on the methodology employed to work out the growth figure. Subsequently, independent economists also disputed the 4.1 percent figure.
Three of Russia's biggest lenders said Friday that they are taking the EU to court over sanctions imposed on them as part of measures aimed at Moscow over the Ukraine crisis. State-controlled Sberbank said in a statement that it had lodged a case at the European Union's Court of Justice in Luxembourg on Thursday to overturn the EU's decision to adopt "restrictive measures against the bank".
A bullish momentum prevailed on the Karachi share market on the last trading of the week ahead of quarter-end earnings announcement. The benchmark KSE-100 index increased by 73 points to close at 30,098 points Friday compared to 30,025 points Thursday. On the last trading day, the market opened in green zone and the index moved upward, touching 30,243 points intraday high.
A bullish momentum prevailed on the Karachi share market on the last trading of the week ahead of quarter-end earnings announcement. The benchmark KSE-100 index increased by 73 points to close at 30,098 points Friday compared to 30,025 points Thursday. On the last trading day, the market opened in green zone and the index moved upward, touching 30,243 points intraday high.
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Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln