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Three members of Sui Southern Gas Company (SSGC) Board, who opposed approval of $47 million Stand By Letter of Credit (SBLC) in favour of ETPL, had reportedly brought with them dissenting notes, well informed sources told Business Recorder. SSGC Board on Saturday approved a $47 million SBLC for Elengy Terminal Pakistan Limited to cover six months' capacity charges by a majority vote. Nine board members favoured the proposal while three out rightly rejected it.

The President has endorsed the verdict of Federal Tax Ombudsman (FTO) that the orders of the Alternative Dispute Resolution Committees (ADRCs) commonly known as 'out-of-court settlement' on disputed tax related matters are not confidential under Freedom of Information Ordinance, 2002.
The Karachi Stock Exchange remained volatile during the last week, ending on October 17, and the benchmark KSE-100 index closed below 30,000 points level. With an improved trading activity, the KSE-100 index shed 276 points (weak on weak) to close at 29,883 points end of the week compared to 30,159 points a week earlier. An average daily value during the last week in term of dollar reached $95.95 million, surged by 31 per cent.
The Karachi Stock Exchange remained volatile during the last week, ending on October 17, and the benchmark KSE-100 index closed below 30,000 points level. With an improved trading activity, the KSE-100 index shed 276 points (weak on weak) to close at 29,883 points end of the week compared to 30,159 points a week earlier. An average daily value during the last week in term of dollar reached $95.95 million, surged by 31 per cent.
The futures spreads decreased by 15 basis points to close 10.14 per cent during the outgoing week ended on October 17, 2014. During the last week, trading activity on the future counter witnessed a downward trend and average daily volume dropped by 1.3 per cent to reach 11.79 million shares. Similarly, with an increase of 21 per cent, the average daily trading value surged to Rs 1.203 billion end of the last week.
Shares in National Commercial Bank went on sale Sunday in Saudi Arabia's largest-ever initial public offering, which at $6 billion is also one of the biggest in the world this year. The IPO comes despite opposition from the kingdom's top religious leader and follows a difficult week on Gulf stock markets.
Minister for Finance Senator Mohammad Ishaq Dar on Sunday chaired a special briefing session by Economic Affairs Division about the flood victims and internally displaced persons (IDPs). The minister was apprised about relief and rehabilitation estimates in detail at the meeting. He was informed that recovery and damage need assessments were being firmed up by relevant agencies, said a press release. The minister desired that all details must be finalised before the next meeting with development partners. He also said with winter approaching, rehabilitation work should be carried out on a fast pace.
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Index Closing Chg%
Arrow DJIA 16,380.41 1.63
Arrow Nasdaq 4,258.44 0.97
Arrow S&P 1,886.76 1.29
Arrow FTSE 6,310.29 1.85
Arrow DAX 8,850.27 3.12
Arrow CAC-40 4,033.18 2.92
Arrow Nikkei 14,532.51 1.40
Arrow H.Seng 23,023.21 0.53
Arrow Sensex 26,108.53 0.42





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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 10, 2014
Reserves $13.401 bln