July 2024 Edition
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July 2024 Current Affairs MCQs & Solutions
Top national & international current affairs questions for CSS, PMS, FPSC, PPSC, and NTS screening tests.
#1801
Which sector was specifically identified as a primary contributor to the market recovery on July 21, 2026?
(a) Textile manufacturing
(b) Pharmaceutical production
(c) Banking and refinery
(d) Automobile assembly
Explanation: Banking and refinery stocks were the primary drivers of the late-session recovery, offsetting early losses. Other sectors like textiles or pharmaceuticals were not cited as the main contributors to the index's rebound. [Source: https://www.dawn.com/news/2017152/stocks-eke-out-gains-amid-extreme-volatility, 21 Jul 2026]
#1802
The intraday volatility on July 21, 2026, was primarily attributed to geopolitical tensions between which two nations?
(a) Pakistan and India
(b) Saudi Arabia and Yemen
(c) Russia and Ukraine
(d) United States and Iran
Explanation: The market volatility was explicitly linked to heightened tensions and exchanged strikes between the United States and Iran. This geopolitical friction caused a risk-off sentiment and an increase in international oil prices. [Source: https://www.dawn.com/news/2017152/stocks-eke-out-gains-amid-extreme-volatility, 21 Jul 2026]
#1803
Consider the following statements about the US-Pakistan trade negotiations as of July 2026: 1. Pakistan successfully negotiated a reduction in the initial IEEPA-based tariff from 29 per cent to 19 per cent in 2025. 2. The temporary global tariff of 10 per cent imposed under Section 122 is scheduled to expire on July 24, 2026. 3. India is currently facing a lower proposed tariff under Section 301 than Pakistan. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: Statement 1 is correct regarding the 2025 tariff reduction. Statement 2 is correct as the Section 122 tariff has a 150-day statutory limit expiring on July 24, 2026. Statement 3 is incorrect because India faces a 12.5% tariff, which is higher than Pakistan's 10%. [Source: https://www.dawn.com/news/2016679/finance-minister-aurangzeb-arrives-in-us-on-3-day-visit-expected-to-hold-talks-on-trade-finance-investment, 19 Jul 2026]
#1804
What was the approximate market value of CXMT Corp in US dollars following its debut on July 27, 2026?
(a) $243.26 billion
(b) $443.26 billion
(c) $343.26 billion
(d) $543.26 billion
Explanation: The market value of CXMT Corp reached over 3 trillion yuan, which is equivalent to approximately $443.26 billion. The other options represent incorrect valuations for this specific event. [Source: https://www.brecorder.com/news/40431979/china-stocks-rise-as-cxmts-debut-surge-revives-interest-in-battered-shares, 27 Jul 2026]
#1805
Which of the following statements regarding the PSX market performance on July 21, 2026, is INCORRECT?
(a) The KSE-100 index closed in positive territory.
(b) The index opened the session with a gain of over 1,000 points.
(c) The market experienced a wide intraday range of 2,493 points.
(d) Banking and refinery stocks helped erase sharp intraday losses.
Explanation: The market actually opened on a depressed note, with the benchmark index opening nearly 2,000 points lower, not higher. Therefore, statement C is factually false. [Source: https://www.dawn.com/news/2017152/stocks-eke-out-gains-amid-extreme-volatility, 21 Jul 2026]
#1806
Finance Minister Muhammad Aurangzeb arrived in Washington on July 19, 2026, for a visit lasting how many days?
(a) Three days
(b) Two days
(c) Four days
(d) Five days
Explanation: The Finance Minister arrived on July 19, 2026, for a scheduled three-day diplomatic visit to engage with US officials on trade and investment. This duration is explicitly stated in the official reporting of his itinerary. [Source: https://www.dawn.com/news/2016679/finance-minister-aurangzeb-arrives-in-us-on-3-day-visit-expected-to-hold-talks-on-trade-finance-investment, 19 Jul 2026]
#1807
Consider the following statements about the PSX session on July 21, 2026: 1. The KSE-100 index gained 0.07 percent by the end of the session. 2. International oil prices increased by approximately 3 percent at the market open. 3. United Bank and Hub Power were among the top contributors to the benchmark index. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: All three statements are factually accurate based on the market report for July 21, 2026. The index gained 0.07 percent, oil prices rose by 3 percent, and the mentioned companies were key contributors to the recovery. [Source: https://www.dawn.com/news/2017152/stocks-eke-out-gains-amid-extreme-volatility, 21 Jul 2026]
#1808
Which of the following institutions is NOT among those the Finance Minister is scheduled to meet during his July 2026 visit?
(a) US Export-Import Bank
(b) International Development Finance Corporation
(c) International Monetary Fund
(d) World Trade Organization
Explanation: The Finance Minister's schedule includes meetings with the USTR, Exim Bank, DFC, and the IMF. The World Trade Organization is not listed as a meeting partner for this specific bilateral visit to Washington. [Source: https://www.dawn.com/news/2016679/finance-minister-aurangzeb-arrives-in-us-on-3-day-visit-expected-to-hold-talks-on-trade-finance-investment, 19 Jul 2026]
#1809
What was the total monetary value of the fine imposed by the EU on AliExpress on July 21, 2026?
(a) $630 million
(b) $200 million
(c) $120 million
(d) $550 million
Explanation: The EU imposed a fine of 550 million euros, which is equivalent to $630 million. The other figures represent fines previously issued to other companies like Temu and X. [Source: https://www.dawn.com/news/2017112/eu-imposes-630m-fine-on-aliexpress-over-illegal-products, 21 Jul 2026]
#1810
What was the performance of energy shares on the Australian market on July 27, 2026?
(a) They rose by 3.3%
(b) They remained unchanged
(c) They slid by 3.3%
(d) None of these
Explanation: Energy shares declined by as much as 3.3% on July 27, 2026, marking their worst session since June 17, 2026, due to falling oil prices. [Source: https://www.brecorder.com/news/40431982/australian-shares-rise-nearly-1-as-middle-east-de-escalation-boosts-sentiment, 27 Jul 2026]
#1811
Which index experienced a decline of almost 19 percent from its all-time highs during July 2026?
(a) Philadelphia SE Semiconductor Index
(b) Nasdaq Composite Index
(c) S&P 500 Technology Index
(d) None of these
Explanation: The Philadelphia SE Semiconductor index faced significant turbulence in July 2026, dropping nearly 19 percent as investors reassessed the sustainability of the AI-driven market rally. [Source: https://www.dawn.com/news/2016222/apple-closes-in-on-nvidia-in-race-for-worlds-most-valuable-company, 17 Jul 2026]
#1812
According to the CME’s FedWatch tool, what is the market expectation for the US Federal Reserve's interest rate decision in the meeting following July 27, 2026?
(a) No rate change
(b) A rate cut
(c) A rate hike
(d) A gradual phase-out of rates
Explanation: Market participants priced in a 63.7% probability that the Federal Reserve would maintain flat interest rates. Stable rates are viewed as beneficial for growth-dependent commodities like copper. [Source: https://www.brecorder.com/news/40431973/copper-gains-on-mideast-de-escalation-oil-price-drop, 27 Jul 2026]
#1813
Which of the following is NOT a US institution that the Finance Minister is scheduled to engage with during his July 2026 visit?
(a) Federal Bureau of Investigation (FBI)
(b) US International Development Finance Corporation (DFC)
(c) US Export-Import (Exim) Bank
(d) International Monetary Fund (IMF)
Explanation: The Finance Minister's visit focuses on economic and financial institutions; the FBI is a law enforcement agency and is not involved in trade or tariff negotiations. The other three organizations are explicitly mentioned as part of the official itinerary. [Source: https://www.dawn.com/news/2016143/finance-minister-to-visit-washington-for-trade-tariff-talks-with-us, 17 Jul 2026]
#1814
The Reserve Bank of Australia is expected to meet in which month following the July 27, 2026, market session?
(a) August 2026
(b) September 2026
(c) October 2026
(d) November 2026
Explanation: The Reserve Bank of Australia was scheduled to meet in August 2026, with investors awaiting inflation data to determine the likelihood of a cash rate hike. [Source: https://www.brecorder.com/news/40431982/australian-shares-rise-nearly-1-as-middle-east-de-escalation-boosts-sentiment, 27 Jul 2026]
#1815
Which index serves as the benchmark for China's large-cap stocks mentioned in the context of the July 27, 2026 market performance?
(a) CSI300 Index
(b) Hang Seng Index
(c) Nikkei 225 Index
(d) KSE100 Index
Explanation: The CSI300 Index is the primary benchmark for large-cap stocks in China. The Hang Seng and Nikkei are indices for Hong Kong and Japan, respectively, while the KSE100 is the benchmark for the Pakistan Stock Exchange. [Source: https://www.brecorder.com/news/40431979/china-stocks-rise-as-cxmts-debut-surge-revives-interest-in-battered-shares, 27 Jul 2026]
#1816
Who is the current Finance Minister of Pakistan leading the trade and tariff negotiations in Washington as of July 2026?
(a) Muhammad Aurangzeb
(b) Ishaq Dar
(c) Shaukat Tarin
(d) None of these
Explanation: Muhammad Aurangzeb is the serving Finance Minister who traveled to Washington in July 2026 to engage with US officials regarding trade agreements and tariff structures. The other individuals listed are former finance ministers. [Source: https://www.dawn.com/news/2016143/finance-minister-to-visit-washington-for-trade-tariff-talks-with-us, 17 Jul 2026]
#1817
Following its debut on July 27, 2026, CXMT Corp became the largest China-listed company by market capitalization, surpassing which of the following institutions?
(a) Industrial and Commercial Bank of China
(b) Bank of China
(c) China Construction Bank
(d) None of these
Explanation: CXMT Corp's market valuation exceeded 3 trillion yuan, allowing it to surpass the Industrial and Commercial Bank of China in market capitalization. The other options are major Chinese banks but were not the specific entity cited as being dwarfed by the new listing. [Source: https://www.brecorder.com/news/40431979/china-stocks-rise-as-cxmts-debut-surge-revives-interest-in-battered-shares, 27 Jul 2026]
#1818
Which sector in the Australian market recorded a gain of 5.1% on July 27, 2026?
(a) Mining sector
(b) Financial sector
(c) Gold miners
(d) Technology sector
Explanation: Gold miners rose by 5.1% on July 27, 2026, supported by firmer bullion prices. This was their best session in more than three weeks. [Source: https://www.brecorder.com/news/40431982/australian-shares-rise-nearly-1-as-middle-east-de-escalation-boosts-sentiment, 27 Jul 2026]
#1819
Consider the following statements about the environmental situation in Europe as of July 2026: 1. Europe is identified as the world's fastest-warming continent. 2. The Western Balkans have experienced a shift in danger from heatwaves to hailstorms. 3. The average high temperature in Western Europe was recorded as being three degrees above the 1961-1990 normal for July 22. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All three
Explanation: All three statements are factually accurate based on the provided information. Europe is confirmed as the fastest-warming continent, the Western Balkans faced a transition to hailstorms, and the temperature anomaly for July 22 was indeed three degrees above the historical baseline. [Source: https://www.dawn.com/news/2017665/spain-france-struggle-with-wildfires-as-heat-grips-europes-south, 23 Jul 2026]
#1820
What is the maximum temperature range forecast for the Ebro and Guadalquivir valleys during the peak of the July 2026 heatwave?
(a) 42-44 degrees Celsius
(b) 39-42 degrees Celsius
(c) 35-37 degrees Celsius
(d) 45-47 degrees Celsius
Explanation: Meteorological forecasts for the Ebro and Guadalquivir valleys indicated potential highs of 42-44 degrees Celsius. The 39-42 range was forecast for broader swathes of the country, making 42-44 the specific peak for these valleys. [Source: https://www.dawn.com/news/2017665/spain-france-struggle-with-wildfires-as-heat-grips-europes-south, 23 Jul 2026]