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A surge in hiring in the world's largest economy last month drove US stocks higher on Friday, with the Nasdaq hitting an 11-year high as optimism grew that the labour market is on a steady path to recovery. The broad-based gains on solid trading volume also sent the Dow Jones industrial near a four-year high. The S&P 500 extended its 2012 advance to about 7 percent.
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Prime Minister Syed Yousuf Raza Gilani has said that Senate elections will be held as per schedule and the government will talk about general election with other political parties after FY2012-13 if there is a need to discuss it. Gilani made these remarks during his talk to media persons at the launch of Pakistan Business Train here on Friday.
Eurozone finance ministers scrapped plans to meet Monday, just days before a bond swap to avoid a default is due to start. The decision came despite comments that a deal to restructure Greece's massive debt was close. Greek officials had earlier built up the possibility of a Monday meeting of the Eurogroup to move forward on a second bailout, which is dependent on a deal with private creditors to cut 100 billion euros ($130 billion) off its debt.
Switzerland said on Friday it was investigating a dozen US, European and Japanese banks suspected of conspiring to manipulate interbank lending rates used to set interest rates on hundreds of trillions of dollars of securities. The Swiss Competition Commission (COMCO) said it had received information of possible collusion between derivative traders concerning the London Interbank Offered Rate (Libor) and the Tokyo Interbank Offered Rate (Tibor).
Pakistan and Qatar are likely to sign two Memoranda of Understanding (MoUs) according to which the two countries will jointly explore development of hydropower, identification of sources of financing, exploration of investment opportunities in energy sector, rehabilitation of existing hydropower plants and construction of National Highway and Motorway infrastructure, official sources told Business Recorder.
The state of New York sued major US banks on Friday for fraudulently foreclosing on thousands of homeowners in the state in the wake of the nation-wide housing crash. The state is suing J.P. Morgan Chase, Bank of America and Wells Fargo, along with Virginia-based MERSCORP, which it called a "shell company" set up by the banks to process home loans they made but which became a dumping ground for poorly documented and mishandled mortgage records.
The KSE-100 index on Friday increased by 52.84 points and closed at 11,982.62 level on the back of selective buying in late hours. The market witnessed a mixed trend with the index oscillating between 12,006.23 points intra-day high and 11,921.02 points intra-day low. Trading improved and the volume at ready counter increased to 130.416 million shares as compared to 107.722 million shares traded on Thursday.
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China Wholesale

brindex
9098.8   Arrow 29.37
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Banking Review 2011


The Wall

ArrowEuro 1.3158
ArrowSterling 1.5815
ArrowSwiss Franc 0.9182
ArrowYen 76.6015
ArrowGold 1740.300
ArrowCotton 96.340
ArrowOil 97.840
Index Closing Chg%
Arrow DJIA 12,862.20 1.23
Arrow Nasdaq 2,905.66 1.61
Arrow S&P 1,344.90 1.46
Arrow FTSE 5,901.07 1.81
Arrow DAX 6,766.67 1.67
Arrow CAC-40 3,427.92 1.52
Arrow Nikkei 8,831.93 0.51
Arrow H.Seng 20,757.00 0.08
Arrow Sensex 17,605.00 0.99

The Rupee

Interbank closing rates for dollar on Friday.
BuyingRs 90.40
SellingRs 90.45
All-round decline

Annual2010/11
Foreign Debt $59.53bn
Per Cap Income $1254
GDP Growth 2.4%
Average CPI 14.10%
MonthlyDecember
Trade Balance $-2.41 bln
Exports $1.85 bln
Imports $1.26 bln
WeeklyJanuary 26, 2012
Reserves $16.802 bln
ArrowBRIndex-30 9,104.17
ArrowKSE-30 Index 11,258.08
ArrowKSE-100 Index 11,982.62
ArrowLSE-25 Index 3,122.96
ArrowISE-10 Index 2,627.71
ArrowGold Per 10gm 50,914.00
ArrowKCA Spot Rate 5,700.00
ArrowLibor Rate 0.76850

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