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European economy is touted as the homeland for the automobile sector with over 250 plants in 18 EU countries. According to ACEA, Europe is the worlds leading vehicle producer with one third of the 50 million cars produced globally being manufactured in the Euro bloc.
United Bank Limited (UBL) was last amongst the top five banks to announce the 9MCY12 financial results, but it topped the pack with a stupendous 42 percent year-on-year increase in profits. The earnings growth was primarily driven by a steep decline in provisioning charges and an impressive increase in other income.
Its been quite a ride for global gold prices lately. Last Friday, gold fell more than two percent to an eight-week low, dropping as low as $1,675 per ounce as improved US jobs data pulled down the metal. Hopes of an improving US economy tarnish the golden luster to some extent as it loses its safe haven appeal.
Spain, the fourth largest European economy, which contributes around 11 percent to the euro blocs GDP and has been dubbed as "too big to bail, too big to fail" is likely to become the fourth victim of the euro zone debt crisis, lest it is bailed out.
A southward turn in inflation had become pretty much an expectation over the past few months, and the SBPs recent monetary policy stances reiterated this. But last month - October 2012 - CPI went quite low, reaching the lowest inflation level in the last three years at 7.66 percent on a year-on-year basis. CPI level, lower than this, was last seen in October 2009 at 7.54 percent.
Dynamics of the global mobile handset market have markedly changed in recent quarters. While the leading manufacturers of feature phones, especially Nokia, are grappling with slackening demand, it is the smartphone makers that are inflating the pie. Global demand for smartphones, which offer suave interface and interactive mobile applications, is growing in double digits, quarter after quarter.
In light of rising fuel costs and fragile global economic conditions, the airline industry continues to perform poorly this year with the rate of global air traffic tumbling persistently according to the September results released by IATA.


Index Closing Chg%
Arrow DJIA 17,827.75 0.07
Arrow Nasdaq 4,787.32 0.61
Arrow S&P 2,072.83 0.28
Arrow FTSE 6,729.17 0.03
Arrow DAX 9,915.56 0.55
Arrow CAC-40 4,373.42 0.20
Arrow Nikkei 17,383.58 0.14
Arrow H.Seng 24,111.98 1.12
Arrow Sensex 28,386.19 0.17

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln