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Weighed by a decline in international oil prices and the Peshawar carnage, the benchmark 100-share index of Karachi Stock Exchange plummeted by 813.82 points or 2.57 percent to close at 30,876.28 points Tuesday. Fahad Khan, an analyst with Adam Securities, said bears thrashed the market amid crisis in Dubai stock market coupled with domestic political turmoil and terror attack in Peshawar.

Weighed by a decline in international oil prices and the Peshawar carnage, the benchmark 100-share index of Karachi Stock Exchange plummeted by 813.82 points or 2.57 percent to close at 30,876.28 points Tuesday. Fahad Khan, an analyst with Adam Securities, said bears thrashed the market amid crisis in Dubai stock market coupled with domestic political turmoil and terror attack in Peshawar.
The National Tax Reforms Commission would chalk out a draft of practical recommendations for the government to gradual withdraw the presumptive tax regime, improve enforcement of the existing tax system, remove flaws in the Universal self Assessment Scheme (USAS) and exploit full potential of value added tax (VAT) regime.
A Rs 2.32 per unit reduction in power tariff announced by Prime Minister Nawaz Sharif in Peshawar last week, is said to be based on half-baked data provided by Ministries of Finance and Water and Power, well informed sources told Business Recorder. According to sources, Prime Minister Nawaz Sharif is not authorised to make any such announcement of relief in tariff on the basis of monthly fuel adjustment without prior approval of National Electric Power Regulatory Authority (Nepra), at a public hearing.
State Bank of Pakistan (SBP) has given green signal to two local banks for due diligence of KASB Bank for the proposed acquisition of the bank. According to information sent to Karachi Stock Exchange, the State Bank has granted permission to Askari Bank Limited and Sindh Bank Limited for initiating the due diligence of KASB Bank Limited. The due diligence will commence shortly by these two local banks, it added.
Foreign Direct Investment (FDI) posted a healthy growth of 19 percent during the first five months of this fiscal year, ie, FY15. According to State Bank of Pakistan (SBP), FDI surged to $423 million in July-November FY15 compared to $355 million in the same period of FY14, depicting an increase of $68 million. During the period under review, FDI inflows stood at $1.371 billion against the outflow of $948 million.
US automaker Chrysler unveiled Tuesday its new name, FCA US, reflecting its subsidiary status to Italian parent Fiat Chrysler Automobiles. Until now, the company, the smallest of the "Big Three" US automakers including General Motors and Ford Motor, was known as the Chrysler Group.
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Index Closing Chg%
Arrow DJIA 17,068.87 0.65
Arrow Nasdaq 4,547.84 1.24
Arrow S&P 1,972.74 0.85
Arrow FTSE 6,331.83 2.41
Arrow DAX 9,563.89 2.46
Arrow CAC-40 4,093.20 2.19
Arrow Nikkei 16,755.32 2.01
Arrow H.Seng 22,670.50 1.55
Arrow Sensex 26,781.44 1.97






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln