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The government did not pass on the impact of international petrol price increase to the local consumers by providing a subsidy of Rs 1.36 billion to maintain the oil prices at the existing level during the month of August. The government has approved a reduction of Rs 0.31 per litre in kerosene oil price and reduction of Rs 0.81 per litre in Light Diesel Oil (LDO).

A case of fake income tax exemption certificate at Faisalabad has prompted the Federal Board of Revenue (FBR) to initiate country-wide investigation against units involved in submitting bogus certificates, requesting payments for providing services without deduction of tax, under section 153 of the Income Tax Ordinance, 2001.
An international court ordered Russia on Monday to pay Yukos shareholders record $50 billion compensation over its seizure of the defunct oil giant, a new blow for Moscow on top of sanctions over the Ukraine crisis. Russia swiftly vowed to contest the ruling by the arbitration court in The Hague, saying it had no jurisdiction over the fate of the company once owned by jailed Kremlin critic and ex-tycoon Mikhail Khodorkovsky.
The Karachi share market witnessed a negative trend weighed mainly by geopolitical uncertainty and week-long Eid holidays. The benchmark KSE-100 index shed 160.68 points to close at 30,314.07 points. Ahsan Mehanti, an analyst at Arif Habib Corporation, said stocks battered at KSE in the last trading session ahead of week-long holidays for Eid.
The Karachi share market witnessed a negative trend weighed mainly by geopolitical uncertainty and week-long Eid holidays. The benchmark KSE-100 index shed 160.68 points to close at 30,314.07 points. Ahsan Mehanti, an analyst at Arif Habib Corporation, said stocks battered at KSE in the last trading session ahead of week-long holidays for Eid.
Prime Minister Nawaz Sharif has reportedly set aside Punjab's opposition to providing funds from federal Public Sector Development Programme (PSDP) to Greater Karachi Water Supply Scheme (K-IV), well informed sources in Planning Commission told Business Recorder.
Britain's Lloyds Banking Group said Monday it will pay £218 million in fines to British and US regulators, becoming the latest global lender to be fined for rigging interbank lending rates. The punishment, worth $370 million or 276 million euros, is the latest twist in the long-running Libor scandal that has badly tarnished the reputation of London as a financial centre.
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Index Closing Chg%
Arrow DJIA 16,982.59 0.13
Arrow Nasdaq 4,444.91 0.10
Arrow S&P 1,978.91 0.03
Arrow FTSE 6,788.07 0.05
Arrow DAX 9,598.17 0.48
Arrow CAC-40 4,344.77 0.33
Arrow Nikkei 15,529.40 0.46
Arrow H.Seng 24,428.63 0.88
Arrow Sensex 25,991.23 0.52





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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln