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Brent oil prices jumped this week to the highest level so far this year, as the latest Saudi-led air strikes on Yemen stoked supply tensions in the crude-rich Middle East. Elsewhere, precious metal gold sank on sliding safe-haven demand as a result of easing tensions over Greece.

Prime Minister Nawaz Sharif on Friday said that with inflation at 13-year low, improved GDP growth and high forex reserves, the country's economy is turning around. Talking to newsmen after his arrival here on the invitation of British Prime Minister David Cameron, he also mentioned the reduction in the prices of petroleum products, causing a slash in the production cost of electricity.
Federal government on Friday notified the constitution of 8th National Finance Commission (NFC) and the first meeting of commission has been convened by Finance Minister Ishaq Dar on April 28. A notification to this effect issued by the Finance Division stated that in pursuance of Article 160 (1) of the Constitution of 1973, the President is pleased to constitute the 9th National Finance Commission (NEC) with Minister for Finance as Chairman.
Prime Minister Nawaz Sharif and Federal Ministers will give an in-camera briefing to Parliamentary leaders next week about Pakistan-China Economic Corridor. A proposal to this effect was given by former President and co-chairperson of PPP Asif Ali Zardari. Several political leaders are expressing concerns over the PCEC, demanding that smaller provinces should get a greater share in the $ 46 billion project. The Parliamentary leaders would be informed about initiating work on these mega projects on an emergency basis.
Privatisation Commission (PC) has reportedly approved $ 100 million notional value of Pakistan Steel Mills (PSM) and appointed consortium of Pak China Investment as Financial Advisor to prepare the entity for sell-off, sources close to Chairman PC told Business Recorder. Pakistan Steel is the largest and the only integrated steel plant of Pakistan, with a production capacity of 1.1 Million Tons Per Year (MTPY) expandable upto 3.0 MTPY.
The Karachi share market staged recovery Friday to close 318.38 points or 0.95 percent higher at 33,775.12. "Better than expected March quarter results lifted the market," viewed Mohammad Rizwan of Topline Securities. The benchmark KSE-100 index remained northward throughout the day and was once seen at the session high at 33,803.25 points.
The Karachi share market staged recovery Friday to close 318.38 points or 0.95 percent higher at 33,775.12. "Better than expected March quarter results lifted the market," viewed Mohammad Rizwan of Topline Securities. The benchmark KSE-100 index remained northward throughout the day and was once seen at the session high at 33,803.25 points.
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Index Closing Chg%
Arrow DJIA 18,080.14 0.12
Arrow Nasdaq 5,092.09 0.71
Arrow S&P 2,117.69 0.23
Arrow FTSE 7,070.70 0.24
Arrow DAX 11,810.85 0.74
Arrow CAC-40 5,201.45 0.44
Arrow Nikkei 20,020.04 0.83
Arrow H.Seng 28,060.98 0.84
Arrow Sensex 27,437.94 1.07





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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln