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Despite having a profitable banking sector financial inclusion in Pakistan is abysmally low, as roughly as 84 percent of adult Pakistanis remain unbanked. Most of the big boys, sitting tight on fat balance sheets and looking pretty, aren really interested in filling this void. It is in this backdrop that Branchless Banking (BB) has emerged as the best hope for financial inclusion in the country.
The production of coal by Australia is expected to be disrupted by heavy rains as Australias bureau of meteorology has issued warnings for cyclones and said that the chances of above-average rainfall in Queensland in the last quarter of 2011 are between 65 to 70 percent.
About four weeks ago, groups of disgruntled Americans began gathering in a park in New York City to vent their reservations against corporations and those at their helms; for profiteering at the cost of US tax payers. Initial diatribes mostly drew attention to handsome salaries and bonuses bestowed to senior management of many corporations that were pulled from the edge of financial ruin, by the government just a few months back.
The government has pulled the same trick from its old hat as the federal cabinet has decided to revert to five-day workweek, to fight the energy crisis. Federal Minster for Water and Power, Naveed Qamar, had earlier hinted the government would work on war-footing to deal with the energy crisis. It turns out that the secret weapon in the war on loadshedding is another day of leisure.
The pioneer asset management company of Pakistan. National Investment Trust Limited has announced its financial results for the first quarter of fiscal year 2012. The first month of this quarter may see a decline of 305 points in KSE-100 index owing to the deteriorating law-and-order condition in Karachi and outflow of capital from the stock market. However, amidst the worsening economic environment, NIT outperformed its benchmark.
The adoption of modern growing techniques and heavy monsoons in orange-growing areas such as Sargodha has boosted the countrys Kinnow production this year. But given the spiralling demand for the citrus fruit from Russia, Ukraine and other Central Asian countries, it seems export demand is still outstripping local production, significantly.
Although headlines about the state of global economies have predominantly focused on developments (or the lack there of) in the United States and European Union; the effects of slower economic growth and stagnating demand for exports on Asian economies has not been muted by any measure.


Index Closing Chg%
Arrow DJIA 17,098.45 0.11
Arrow Nasdaq 4,580.27 0.50
Arrow S&P 2,003.37 0.33
Arrow FTSE 6,819.75 0.20
Arrow DAX 9,470.17 0.08
Arrow CAC-40 4,381.04 0.34
Arrow Nikkei 15,424.59 0.23
Arrow H.Seng 24,742.06 0.01
Arrow Sensex 26,638.11 0.29

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln