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Pakistan Steel Mills' (PSM) management has secretly proposed to the federal government to delay privatisation of the entity for three years under the guise of upgradation/expansion plan, well informed sources told Business Recorder. In April this year, Economic Co-ordination Committee (ECC) of the Cabinet had approved a Rs 18.5 billion restructuring plan to turn around PSM prior to its privatisation.

As expected, there is no change in the policy rate. All 25 research houses contacted by BR Research were anticipating a status quo. Surprisingly, however, the State Bank of Pakistan's language seems soft in the detailed monetary policy statement. The central bank has only talked about positive economic happenings, whereas the associated risks were largely missing. The usual severity in tone is missing. Apparently, someone high up in the SBP's central board hasn't paid heed to the warnings from the document presented by the monetary policy team.
Karachi Stock Exchange registered a spectacular rally in the last two day of the outgoing week as the benchmark KSE-100 Index surpassed the psychological barrier of 30,000 points to hit an all-time high of 30,224.06 points. The index gained an overall 907 points during the week on strong triggers.
Karachi Stock Exchange registered a spectacular rally in the last two day of the outgoing week as the benchmark KSE-100 Index surpassed the psychological barrier of 30,000 points to hit an all-time high of 30,224.06 points. The index gained an overall 907 points during the week on strong triggers.
The futures spread decreased by 208 basis points to 8.35 per cent during the outgoing week ended on July 18, 2014. Trading activity on the future counter witnessed upward trend and average daily volumes surged by 197.3 percent to 11.78 million shares. The average daily trading value was stood at Rs 1.284 billion, up by 225.2 percent.
By creating their own multilateral financial institutions, the BRICS emerging-market powers are shaking up global economic governance but remain far from dismantling the post-war system dominated by the West. For the past 70 years, the International Monetary Fund and the World Bank have been the pillars of the world's economic system, coming to the rescue of countries in trouble and supporting development projects, respectively.
Volatility spiked on Thursday after the tragedy of a downed civilian jetliner in Ukraine and the mounting death toll in Gaza and Israel interrupted the summer trading slumber. Still, the bears may have to wait a while to call the start of a correction.

 



 
Index Closing Chg%
Arrow DJIA 17,051.73 0.28
Arrow Nasdaq 4,424.70 0.17
Arrow S&P 1,973.63 0.23
Arrow FTSE 6,728.44 0.31
Arrow DAX 9,612.05 1.11
Arrow CAC-40 4,304.74 0.71
Arrow Nikkei 15,215.71 1.01
Arrow H.Seng 23,387.14 0.29
Arrow Sensex 25,715.17 0.29





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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