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Its not just Cypriots who were worried about the possible imposition of a whopping tax on bank deposits. Analysts and economists were also concerned that the tax will set a bad precedence for the Eurozone as a whole.
The ongoing fiscal year has brought about mixed fortunes for various sectors of the telecom industry - while the mobile telephony sector has remained under stress, the LDI telephony sector has been mostly gleeful. But the overall industry performed better between July 2011 and June 2012, as seen in the statistics released by the Pakistan Telecommunications Authority in Annual Report 2012, last week.
Where the political carcass of the country eagerly needs a caretaker government, those who are unanimously selected need to bear one thing in mind amongst others: the energy sector baggage that will tag along.
Caution Bankers: Gone are the times when banks could easily mint risk-free money by investing in Government paper; the regulator is now more on the watch.
It appears that Pakistan’s external account situation is getting grimmer with the passing months. Thanks to a hefty, $596 million current account deficit for the month of February; the overall current account deficit stood at $700 million for the eight months ending February 2013, SBP’s latest statistics show.
Intentionally or unintentionally, Germany’s latest announcement about spending cuts for a more balanced budget sets precedence for other eurozone countries where growth and austerity are usually at odds.
Just when signs of improving economic conditions put a dent on global gold prices, the World Gold Council comes up with a report that highlights the importance of the precious metal even more.


Index Closing Chg%
Arrow DJIA 18,203.37 0.47
Arrow Nasdaq 4,979.90 0.56
Arrow S&P 2,107.78 0.45
Arrow FTSE 6,889.13 0.74
Arrow DAX 11,280.36 1.14
Arrow CAC-40 4,869.25 0.98
Arrow Nikkei 18,815.16 0.06
Arrow H.Seng 24,702.78 0.74
Arrow Sensex 29,593.73 0.46

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln