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Pakistan's energy crisis could best be addressed through a holistic approach integrating immediate improvement in current generation and supply systems with judiciously planned exploitation of diverse sources, top experts emphasised at a one-day conference.

Eurozone unemployment and inflation data painted a mixed economic picture Thursday, with the jobless rate edging down while softer prices raised question marks over consumer demand, clouding the outlook. Analysts said the jobs data was welcome but when set against the slowdown in inflation, it offered little comfort for the European Central Bank which will likely come under additional pressure to adopt more stimulus measures to keep very modest growth on track.
The European Court of Human Rights on Thursday ordered Russia to pay former shareholders in defunct oil giant Yukos almost 1.9 billion euros ($2.5 billion), the largest-ever award by the court. The ruling comes just days after an international arbitration court in The Hague made a similar order for a record $50 billion (37 billion euros) in compensation over Russia's seizure of the company once owned by Kremlin critic Mikhail Khodorkovsky.
Argentina defaulted for the second time in 12 years after last-ditch talks with what it called "vulture" creditors failed, as focus turned to whether big banks and funds would request the declaration of a "credit event". After a long legal battle with hedge funds which had rejected Argentina's debt restructuring following a 2002 default, Latin America's third-biggest economy failed to strike a deal in time to meet a midnight US eastern time (0400 GMT) payment deadline.
Finance Minister Ishaq Dar has said that talks will be held with Swiss government in August to bring back $200 billion to Pakistan from Switzerland. In a statement, Dar said talks would be held in several phases and it could take three to four years to bring back the said money to Pakistan. He said that the economic situation was fragile when the PML-N govt took charge of the affairs of the country.
Finance Division and Financial Monitoring Unit (FMU) are collecting data including feedback/statistics on Suspicious Transaction Reports (STRs) disseminated to law enforcement agencies to check any suspected banking transactions involving money laundering under Anti-Money Laundering Act. Sources told Business Recorder here on Thursday that the Finance Division's AML-I section has written a letter to the Director General FMU Karachi in this regard.
Foreign investors repatriated some $1.21 billion on account of profit and dividend during the last fiscal year (FY14). The repatriated amount is some 13 percent or $136 million higher than the previous year (FY13), in which some $1.078 billion were transferred by foreign investors. Talking about the rising trend of repatriation, economists said that the country's economy has performed well and grew by some 4.1 percent.
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Index Closing Chg%
Arrow DJIA 16,563.30 1.88
Arrow Nasdaq 4,369.77 2.09
Arrow S&P 1,930.67 2.00
Arrow FTSE 6,730.11 0.64
Arrow DAX 9,407.48 1.94
Arrow CAC-40 4,246.14 1.53
Arrow Nikkei 15,620.77 0.16
Arrow H.Seng 24,756.85 0.10
Arrow Sensex 25,894.97 0.74

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