World Bank Cuts Global Growth Forecast as Euro Region Contracts: Economy

The World Bank cut its global growth forecast by the most in three years, saying that a recession in the euro region threatens to exacerbate a slowdown in emerging markets such as India and Mexico.

The world economy will grow 2.5 percent this year, down from a June estimate of 3.6 percent, the Washington-based institution said.

The euro area may contract 0.3 percent, compared with a previous estimate of a 1.8 percent gain. The U.S. growth outlook was cut to 2.2 percent from 2.9 percent.

Assessment of liquidity in stock market: Shaukat summons adviser, SBP governor

Prime Minister Shaukat Aziz has summoned his Adviser on Finance Dr Salman Shah and State Bank Governor Dr Ishrat Husain to assess the placement of liquidity in the stock market for phasing out of COT (badla) with margin financing. At present, Salman and Ishrat are in the US to attend International Monetary Fund and World Bank spring meetings. They are scheduled to return on April 25. Now they would report in Islamabad directly.