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Council of Common Interests (CCI), which is schedule d to meet on Tuesday (today) with Prime Minister Nawaz Sharif in the chair, will consider Sindh government's concerns with respect to double payment of withholding tax, well-informed sources told Business Recorder. The sources said, Federal Board of Revenue (FBR), had made changes in Withholding Tax Laws through the Finance Act, 2014 and its recovery with effect from 1st July, 2014.

Riaz Riazuddin Monday assumed the charge of the office of Deputy Governor (DG), State Bank of Pakistan (SBP). The Federal Government notified appointment of Riazuddin as DG, SBP on March 28, 2015 for a period of three years from the date he assumes charge.
The 67th Annual General Meeting of the shareholders of MCB Bank Limited was held on March 27, at local hotel, under the Chairmanship of Aftab Ahmed Khan, to transact the ordinary and special businesses of the bank.
The Islamic Banking Industry (IBI) is continued to grow as the market share of Islamic banking assets and deposits in overall banking industry reached double digits by end December 2014. State Bank of Pakistan (SBP) on Monday revealed that asset base of IBI reached Rs 1.259 trillion by end December 2014, depicting an increase of 24.2 percent as compared to previous year.
Swiss Bank BSI will pay a $211 million penalty after acknowledging it helped clients create sham identities to evade US taxes, the Justice Department announced Monday. BSI employed myriad schemes to facilitate tax evasion, such as creating false-front corporations and trusts to hide money. BSI had more than 3,000 active accounts secretly tied to US taxpayers after 2008, many of which it knew were not disclosed to US authorities, Justice said.
US stocks rallied more than 1 percent on Monday, with biotech stocks among the most active names amid a number of major deals in the space. The day's gains were broad as major indexes rebounded off a sharp decline last week, a period over which major indexes lost more than 2 percent. All ten primary S&P 500 sectors rose on the day.
On Monday, BRIndex30 opened at 16,859.42 points. It touched an intraday high of 16,881.13 points and an intraday low of 16,078.95 points and closed at 16,226.75 points which was -632.67 points or -3.75 percent lower than previous close. Total volume was 180,727,300, which was 65.63 percent of KSE All share volume and 87.29 percent of KSE 100 volume. The KSE All Share volume was 275,372,720 and KSE 100 volume was 207,041,810.


Index Closing Chg%
Arrow DJIA 17,976.31 1.49
Arrow Nasdaq 4,947.44 1.15
Arrow S&P 2,081.24 1.22
Arrow FTSE 6,891.43 0.53
Arrow DAX 12,086.01 1.83
Arrow CAC-40 5,083.52 0.98
Arrow Nikkei 19,411.40 0.65
Arrow H.Seng 24,855.12 1.51
Arrow Sensex 27,975.68 1.88

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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln