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The city on Thursday presented a deserted look as almost all business and academic activities came to a grinding halt in connection with a `day of mourning' observed by Muttahida Qaumi Movement in protest against the alleged extrajudicial killing of its worker, Sohail Ahmed. Moreover, public transport remained off the road, causing immense difficulties to commuters.

Local auto parts manufacturers on Thursday sought Commerce Ministry's help against a proposed reduction in tariff and a complete ban on import of used cars under the garb of different schemes. This was the crux of a meeting between the Commerce Ministry's team headed by Commerce Minister, Engineer Khurram Dastgir Khan and members of Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM).
In order to further tighten the monitoring of Anti-Money Laundering transactions, the State Bank of Pakistan (SBP) has announced a reduction in Currency Transaction Report limit by Rs 0.5 million to Rs 2 million with immediate effect. Exchange Companies (ECs), being "Financial Institutions" under the Anti-Money Laundering Act 2010, are required to submit Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs), as per Section 7 of the AML Act, 2010, to the Financial Monitoring Unit (FMU) of SBP.
Economic powerhouses Germany and China warned Greece on Thursday against reneging on reforms tied to its massive international bailout, with markets still jittery over fears Athens could default on its debt. Germany, which has shouldered most of the multi-billion-euro EU rescue plan for Greece, said the country's new anti-austerity government could not make changes "to the detriment" of other European citizens.
Finance Ministry has argued in favour of rationalising relending rates of foreign loans especially for power sector projects in view of their relevance to electricity tariff. Sources told Business Recorder that the issue of rationalisation of relending policy surfaced after Economic Affairs Division (EAD) conveyed to the Pakistan Atomic Energy Commission (PAEC) the terms of relending of buyer credit loan Agreement of $150 million at 17 percent interest rate.
The Karachi share market staged recovery on the back of a rally in select scrips on strong valuations amid thin trade Thursday. The day, however, saw the risk-averse equity investors to play safe as the city remained almost completely shut on the MQM call for mourning day. The KSE 100-share index gained 22 points to end at 34,408.74 points compared to 34,386.86 points Wednesday.
The Karachi share market staged recovery on the back of a rally in select scrips on strong valuations amid thin trade Thursday. The day, however, saw the risk-averse equity investors to play safe as the city remained almost completely shut on the MQM call for mourning day. The KSE 100-share index gained 22 points to end at 34,408.74 points compared to 34,386.86 points Wednesday.
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Index Closing Chg%
Arrow DJIA 17,409.00 1.31
Arrow Nasdaq 4,683.41 0.98
Arrow S&P 2,017.30 0.95
Arrow FTSE 6,810.60 0.22
Arrow DAX 10,737.87 0.25
Arrow CAC-40 4,631.43 0.44
Arrow Nikkei 17,606.22 1.06
Arrow H.Seng 24,595.85 1.07
Arrow Sensex 29,681.77 0.41






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln