Business Recorder

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ImageIn a Business Recorder exclusive the Finance Division, while briefing the Economic Co-ordination Committee of the Cabinet headed by the Finance Minister Dr Hafeez Sheikh, reportedly admitted that inflation in Pakistan was the second highest in the region. Bangladesh had the dubious title of having the highest inflation rate in the region. However, Bangladesh economy is expected to register an inflation rate of 7.5 percent this year while Pakistan's is expected to register a rate in double digits.

ImageThat perception the government and the opposition hold of the present Election Commission of Pakistan and its capacity to deliver as an impartial entity do not match well is a fact. Even when they agreed on remodelling the commission's structure and its powers under the 18th Amendment their mismatch tends to persist. How sharp are their contrasting positions it is becoming increasingly known now that the tenure of the sitting Chief Election Commissioner is about to end and the new incumbent has to be appointed who would superintend next general election.
ImageThe head of the United Nations High Commissioner on Refugees (UNHCR) mission in Afghanistan Peter Nicklaus acknowledged what he termed 'the biggest mistake' ever made by the entity he serves: "we thought if we gave humanitarian assistance then macro-development would kick in ... it's the income that counts, the livelihood. In very simple terms we need to find jobs for the people coming back."
ImageWhether the glass is half empty or half full, the Pakistan-India talks on conventional and nuclear weapons confidence-building measures (CBMs) held in Islamabad this week failed to offer a clear reply to this question. The two-day expert level talks moved both ways. While it showed clear move in certain areas in some others it copiously projected Indian intransigence by sticking to the status quo.
ImageFinancial institutions of a country play a vital role in its development by channelising national savings into investment. The level of efficiency at which they can play such a role is, therefore, very important for the policymakers of a country, particularly the monetary authorities who are charged with the responsibility of looking after its banking system.
ImageLahore being the hardest hit by a dengue fever epidemic earlier this year, the Lahore Development Authority (LDA) is getting ready for another spell, which is likely to start in the second week of February and last till the first week of April. The other day, the LDA hosted an awareness seminar on "Causes and Prevention of Dengue Fever", where its Director General noted that it is not a disease but a social problem, which can be controlled by involving the community. He advised the people to make use of anti-mosquito sprays in their homes and offices.
ImagePresident Zardari's moves have never been easy to figure out; so is his speech he made at the graveside of Benazir Bhutto before a large crowd that had gathered there to grieve her fourth death anniversary. To some, it is the last hurrah of a man who has decided to go down fighting. "We want to live in history and not in headlines," he declared, committing himself to follow the path of Aung San Suu Kyi. But to many others, President Zardari has tried to bring down the political temperature that had shot up many degrees in the wake of over-heated political scenario in general and the Memogate case in particular.

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Banking Review 2011


The Wall

ArrowEuro 1.3158
ArrowSterling 1.5815
ArrowSwiss Franc 0.9182
ArrowYen 76.6015
ArrowGold 1740.300
ArrowCotton 96.340
ArrowOil 97.840
Index Closing Chg%
Arrow DJIA 12,862.20 1.23
Arrow Nasdaq 2,905.66 1.61
Arrow S&P 1,344.90 1.46
Arrow FTSE 5,901.07 1.81
Arrow DAX 6,766.67 1.67
Arrow CAC-40 3,427.92 1.52
Arrow Nikkei 8,831.93 0.51
Arrow H.Seng 20,757.00 0.08
Arrow Sensex 17,605.00 0.99

The Rupee

Interbank closing rates for dollar on Saturday.
BuyingRs 90.40
SellingRs 90.45
Rates keep coming down

Annual2010/11
Foreign Debt $59.53bn
Per Cap Income $1254
GDP Growth 2.4%
Average CPI 14.10%
MonthlyDecember
Trade Balance $-2.41 bln
Exports $1.85 bln
Imports $1.26 bln
WeeklyJanuary 26, 2012
Reserves $16.802 bln
ArrowBRIndex-30 9,104.17
ArrowKSE-30 Index 11,258.08
ArrowKSE-100 Index 11,982.62
ArrowLSE-25 Index 3,122.96
ArrowISE-10 Index 2,627.71
ArrowGold Per 10gm 50,914.00
ArrowKCA Spot Rate 5,700.00
ArrowLibor Rate 0.76850

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