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Trade Development Authority of Pakistan (TDAP) is reportedly defying the Commerce Ministry with respect to implementation of different orders, including the release of rebate announced in the federal budget 2014-15, well-informed sources told Business Recorder. TDAP's officials in informal deliberations with their colleagues in Commerce Ministry claim that the organisation lacks capacity to deal with different matters but the fact of the matter is that they are afraid of maltreatment their colleagues faced in the past, the sources added.

Prime Minister Nawaz Sharif is likely to attend a high-level international conference on the implementation of the international decade for action "water for life" 2005-2015 which will take place on June 9-11 in Dushanbe, Tajikistan. The main goal of the Decade is to promote efforts to fulfil international commitments made on water and water-related issues by the year 2015. These commitments also include the development goals contained in the United Nations Millennium Declaration, particularly, to halve the proportion of people without access to safe drinking water and basic sanitation.
Japan's Prime Minister Shinzo Abe announced Thursday a $110 billion investment plan for infrastructure projects in Asia in an apparent counter to China's move to launch a new development bank. Abe said in a speech in Tokyo that Japan and the Asian Development Bank (ADB) will boost their assistance by 30 percent to offer the massive investment aid under a five-year public-private partnership vision.
Having long been prone to chartering crafts, the management of Port Qasim Authority (PQA) took about four long years to acquire a new Turkish-made pilot boat of which two caterpillar main engines, the port operator suspects, are refurbished. While its technical team stays out of any accountability for its failure to detect a "defective make" of PB Lahoot's main engine during the year-long acquisition process, the PQA is contemplating to "blacklist" M/s Sanmar Denizcilik, and possibly its local agents from M/s Salateen Syndicate, for the supply of a faulty vessel.
Wall Street was higher in late morning trading on Thursday, with the S&P 500 a whisker away from a record high, as a fresh batch of disappointing economic data bolstered expectations that the Federal Reserve would not raise interest rates any time soon. With the Dow and the S&P trading near record levels this week, trading volumes have been subdued as the quarterly earnings season draws to a close and a long holiday weekend nears.
Sluggish trading continued for the second consecutive day on the Lahore Stock Exchange on Thursday and the equities suffered declines amid a considerably low trading activity. The LSE-25 index gained 7.32 points to close at 5465.54 against 5458.22 of Wednesday while transaction volume squeezed to 290,500 shares compared with the day earlier volume of 370,800 shares.
Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 1.87 points as the ISE Ten Index moved from 3,628.51 to 3,626.64 points. The overall turnover amounted to 500 shares as compared to previous turnover of 48,600 shares.


Index Closing Chg%
Arrow DJIA 18,285.74 0.01
Arrow Nasdaq 5,090.79 0.38
Arrow S&P 2,130.82 0.23
Arrow FTSE 7,013.47 0.09
Arrow DAX 11,864.59 0.14
Arrow CAC-40 5,146.70 0.26
Arrow Nikkei 20,202.87 0.03
Arrow H.Seng 27,523.72 0.22
Arrow Sensex 27,809.35 0.10

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln