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The IMF lowered its 2014 global economic growth forecast Thursday, warning of "negative surprises" from the United States and China and geopolitical risks in Ukraine and the Middle East. The International Monetary Fund projected global growth of 3.4 percent for this year, down from its April estimate of 3.7 percent. In 2013, the world economy grew 3.2 percent.

Pakistan on Thursday said it would re-start work on improving trade ties with arch-rival India when the two nations' foreign ministers meet in Islamabad next month. Pakistan had pledged to grant India "Most Favoured Nation (MFN)" status by the end of 2012, meaning Indian exports would be treated the same as those from other nations, but so far has not done so.
Pakistan has underscored the need for developing an Electronic Data Interchange (EDI) to resolve teething issues amongst the Saarc member countries. This proposal was floated by Commerce Minister Engineer Khurram Dastgir in his address at the 8th South Asian Free Agreement (SAFTA) Ministerial Council meeting being held in Thimpu (Bhutan).
More than 2.2 billion people are "poor or near-poor", with financial crises, natural disasters, soaring food prices and violent conflicts threatening to exacerbate the problem, a United Nations report said Thursday. While poverty is in decline world-wide, growing inequality and "structural vulnerabilities" remain a serious threat, said the report by the United Nations Development Programme (UNDP), released in Tokyo.
Pakistan retained its last year's position at number 146 in the category of 'low development countries' in the UN Human Development Report (HDR) 2014 'Sustaining Human Progress: Reducing Vulnerabilities and Enhancing Resilience' released at the UN University Headquarters here on Thursday. The country's human development index (HDI), a measure derived from life expectancy, education levels and incomes, did not grow when compared with 2013.
Ministry of Finance, Ministry of Water and Power and Law Division are hesitant to become members of the committee proposed by Ministry of Petroleum and Natural Resources to negotiate price with Qatargas for import of LNG, it was learnt.
The Karachi share market remained firm on Thursday supported by higher trades ahead of Eid holidays. The benchmark KSE-100 index inched up by 9.32 points to close at 30,474.75 points. Ahsan Mehanti, an analyst at Arif Habib Corporation, said socks closed flat amid higher trades ahead of holidays this weekend. Sentiments remained positive on major earnings due after Eid-ul-Fitr.

 



 
Index Closing Chg%
Arrow DJIA 17,083.80 0.02
Arrow Nasdaq 4,472.11 0.04
Arrow S&P 1,987.98 0.05
Arrow FTSE 6,821.46 0.34
Arrow DAX 9,794.06 0.42
Arrow CAC-40 4,410.65 0.78
Arrow Nikkei 15,284.42 0.29
Arrow H.Seng 24,141.50 0.71
Arrow Sensex 26,271.85 0.48





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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