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Pakistan and Indonesia have ratified a Preferential Trade Agreement (PTA) clearing the way for trade liberalisation between the two countries. Under this agreement, Pakistan will offer preferential tariffs to Indonesia on 287 tariff lines, while Indonesia will reciprocate with similar offers on 216 tariff lines.
Ugly choices are what seem to be left for Greece these days. Lucas Papademos, the Greek Premier was unable to convince party leaders to accept strict austerity conditions in exchange for a second 130bn euros bailout, raising concerns that the country may be quite close to a default.
Pakistan is yet to undergo a penetration in broadband services, the likes of which the country witnessed in cellular services. The official statistic of 1.65 million broadband subscriptions (September 2011) and unofficial estimates of 19.8 million PC internet users (June 2011), indicate that a vast majority of over 100 million adult Pakistanis is missing out on the academic and socioeconomic benefits of broadband.
The uncertain political environment, fears of global recession, changes in interest rates and power shortages, led large capital outflows and low participation in capital markets throughout 1HFY12. National Investment Trust (NIT), the pioneer of mutual funds in Pakistan also had to face these market adversities.
A high level of non-performing loans is blamed for the growing reluctance of financial institutions to extend credit facilities to the private sector in the country.
The Indian Supreme Court ruling of February 2 - which canceled 122 telecom licenses issued in 2008, on grounds of under-pricing and alleged corruption - must have given heebie-jeebies to the authorities at home who are eyeing to lock in over $800 million through auctioning mobile spectrum licenses next month.
When you are big and you go public, strict scrutiny will naturally follow you around. And social networking giant Facebook will vouch for that. Last Wednesday, the company announced its decision to become a publicly traded company, filing to raise $5 billion through an initial public offering (IPO).


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

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