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Judge slashes $1b Samsung-Apple penalty in half
BUSINESS Sunday, 3 March, 2013
PCSIR, FDA sign MoU for manufacturing of coal briquettes ISLAMABAD
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uel Research Center of Pakistan Council of Scientific and Industrial Research (FRCPCSIR) and FATA Development Authority (FDA) on Saturday signed a Memorandum of understanding (Mou) for manufacturing of 10 tonnes of coal briquettes. The main aim of this joint venture is to defuse the energy crises prevailing in the FATA region in particular. PCSIR Chairman Dr Shoukat Parvez and FRC Director Gulzar Hussain Jhatial signed the Mou on the behalf of their respective organisations. The PCSIR chief in his brief address appreciated the efforts of Fuel Research Centre, for their research and development, regarding production of coal briquettes. Shoukat said PCSIR
Dollar gains, US shares rebound on ISM data NEW YORK AGENCIES
Global equity markets fell and the euro slumped to a two-month low on Friday as weak economic data from Europe and China weighed on prices, but Wall Street stocks rebounded on news of surprisingly strong US manufacturing and consumer sentiment. Government bonds rallied and the dollar rose in safe-haven buying as concerns about imminent US spending cuts and the post-election political stalemate in Rome remained major headwinds for assets considered more risky. Growth in US manufacturing, which rose at its fastest pace in over a year and a half in February, offset some jitters. The Institute for Supply Management said its index of national factory activity rose to 54.2 from 53.1 in January, topping economists' forecasts of a pullback to 52.5. While economic data from Europe and China was disappointing, there are clear signs of economic recovery in the United States and some evidence that Japan is beginning to turn around, a potential swing factor in 2013, said Andrew Milligan, head of global strategy at Standard Life Investments in Edinburgh.
will further enhance the scope of coordination with the FDA and other provinces, regarding solar and other renewable resources for power generation. PCSIR will also provide Human Resource training and development for the youth of FATA to play an active and more useful part in provincial development. Briquette is the formation of cylindrical, circular or other shaped compact piece from finely divided solids by the application of external pressure. Briquettes are environmentally more acceptable to the consumer compared to coal because of reduced sulphur and convenience to handle. This product can be used not only for domestic heat spacing and cooking purposes but also for industrial purposes, including boilers, cement industries, poultry and cattle farms. This product is very handy for regions
where electricity or gas is not available. FRC-PCSIR, after years of research in the manufacturing of coal briquettes, produced environmental friendly, low ash, low sulphur briquettes from indigenous raw coal. Considering the annual production and the huge potential of coal in FATA,a joint Research and Development work on the manufacture of coal briquettes between FDA and FRC-PCSIR has been initiated. Commercial opportunities could arise out of the needs for non- polluting solid fuel and waste utilization, especially in markets which have traditionally used wood for heating or cooking because of non-availability of electricity and gas, an official said. "The coal briquettes for FATA may be utilised as a safer and environmental friendly fuel as the hazardous gases emitted during the combustion of these briquettes are within the safe limit," the official added.
‘Kunming exhibition; a golden opportunity for Pakistani traders’ BEIJING APP
Pakistan's Ambassador to China Masood Khalid said that Pakistan, as in the past, will actively participate in the upcoming Kunming exhibition that provides a good platform for Pakistani traders to showcase their products in the Chinese market. The ambassador, after meeting with the Governor of Yunnan Province Li Jiheng on Friday evening said that Pakistan-China friendship is all-weather and time-tested, adding that "during the last several decades the graph of this unique friendship has consistently followed an upward trajectory". He pointed out that during his meeting with Governor Li, he assured him of maximum participation from Pakistan in the exhibition that is scheduled to take place in June this year. Accepting the invitation to attend the exhibition, Ambassador Khalid said the fair would enhance Pakistan's trade ties with China
while bringing the business communities of the two countries closer to each other. Upgraded in 2013, the 'China-South Asia Exposition' is the first event to be held under the new name in Kunming, the capital city of Yunnan province from June 6. The exposition will be concurrently organised with the 21st China, Kunming Import and Exhort Commodities Fair, an annual event that is being held successfully over two decades. To promote and invite maximum number of foreign participants in the exhibition, an interaction, the second in a series, with Beijing based diplomats was organised on Friday. Speaking on the occasion, the Secretary of the Communist Party of China Yunnan Provincial Committee Qin Guangrong said that Yunnan province is a bridge connecting China and the outside world, since the Han Dynasty around two millenniums ago. "We have built up a comprehensive transport network that connects countries in our vicinity by road, railway, waterway and aviation, so as to draw even closer friendly ties with South Asia, Southeast Asia and East Asia," Qin noted.
SAN FRANCISCO: A judge on Friday cut $ 450 million from a $1 billion award to be paid by Samsung in a landmark patent lawsuit from Apple, saying a jury had wrongly calculated the damages. US District Judge Lucy Koh affirmed the remainder of the award, amounting to $ 598.9 million, in the patent infringement case, while denying Apple's request for a bigger penalty. The decision marked the latest twist in the blockbuster trial pitting the maker of the iPhone against the surging South Korean electronics giant. Apple had accused its rival of massive and willful copying of its designs and technology for smartphones and tablets. But Koh said the jury erred in calculating damages for some of the devices in question, including some models of the Galaxy SII smartphone and Galaxy Tab tablet, and struck down as invalid the $ 450 million awarded to the Silicon Valley giant. AGENCIES
US suggests Keystone pipeline won't harm environment
WASHINGTON: The US State Department suggested on Friday that a $ 5.3 billion Canada-to-Texas oil pipeline would have no major impact on the environment, but stopped short of recommending it be approved. The lengthy draft environmental impact statement examines how the Keystone XL Project could affect wildlife and surrounding areas as it crosses from the tar-sands of Alberta in Canada and travels 875 miles (1,408 kilometers) south. The fate of the proposed pipeline, which many environmentalists fear could be damaging, is still awaiting approval from the State Department. "The analyses of potential impacts associated with construction and normal operation of the proposed project suggest that there would be no significant impacts to most resources along the proposed project route," the report said. AGENCIES
Obama orders $85b in budget cuts
WASHINGTON: President Barack Obama ordered $ 85 billion in budget cuts on Friday that could slow the US economy and slash jobs, after blaming Republicans for refusing to stop the “dumb” spending cuts. Obama complied with his legal obligations and initiated the automatic, across-the-board cuts in domestic and defense spending, following failure of efforts to clinch a deal with Republicans on cutting the deficit. AGENCIES
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The people’s government will not impose any additional burden on the common man. —Prime Minister Raja Pervaiz Ashraf
KCCI to provide E-Commerce training to local SMEs KARACHI NNI
Karachi Chamber of Commerce and Industries (KCCI) will be, always, on the forefront to provide business trainings to our members, including local SMEs,” said KCCI President Haroon Agar in a meeting held with a delegation of Pearl Shine Group International (PSGI), which is the nominated strategic partner of www.Alibaba.com, the world’s largest business-to-business (B2B) online marketplace. “Our local SMEs in Pakistan should know how to utilise online trading channels for greater business growth,” Agar added. Alibaba.com and Pearl Shine Group International (PSGI) plan to or-
ganise practical training sessions and workshops on online business and trading in collaboration with chambers of commerce and industries operating in different cities of Pakistan. Showing great interest on the proposed training and workshops on e-commerce, the KCCI President said local traders and businessmen in Pakistan can never grow without mastering the latest tools of conducting businesses via online channels avail-
able on the Internet. At the meeting, PSGI CEO Irfan Haider Awan gave a detailed briefing to KCCI about online business training and its benefits for local SME’s, if upgraded as Verified Members (VM) at Alibaba.com. The VM programme has been introduced to broaden Alibaba.com’s pool of non-Chinese verified suppliers and offer more options to global buyers looking for international products,
ICCI assures support to Helping Hand for relief and development ISLAMABAD INP
One of the vital communal responsibilities of Head of Helping Hand for Relief and Development (HHRD) is the enhancement of mental and psychological performance of orphan students, who are in more need of attention and care as compared to other students. Society can play a significant role in improving their mental, physical and educational skills through different academic and cocurricular activities, said HHRD Country Head Fazalur Rehman while addressing at Islamabad Chamber of Commerce & Industry (ICCI). He said relief efforts in Pakistan are ongoing and HHRD, through its various programs, continues to make great progress in the country. He said that HHRD efforts spanned all aspects of social and economic recovery through programs such as its “Integrated Approach toward Rebuilding Pakistan” program which includes a Home Construction Program and Water & Sanitation Hygiene Program. These programs are currently being implemented in 11 adopted Union Councils throughout Pakistan. Moreover, programs such as “Interest Free Micro-Fi-
nance” have allowed for those affected to once again support their families, he added. Speaking on the occasion ICCI President Zafar Bakhtawari said it is our social and national responsibility to help the needy and vulnerable segment of the society instead of relying on the government. He said we should provide full support to the organisations like HHRD which are institutionalising the spirit of compassion and volunteerism. Bakhtawari appreciated the role of HHRD as a viable model and a broad-based organisation which is working for people’s wellbeing. He also lauded the role of Fazalur Rehman for making this a sustainable, growth-oriented and replicable organisation. The ICCI president assured full support of his chamber to HHRD and informed the meeting that members of ICCI enthusiastically participated in the welfare of society. He also appreciated the role of HHRD for organising Mobile Medical Camps at different locations in Sindh which have provided free consultations and medications for flood victims. He also urged HHRD to depute a team of mobile medical specialists for Kachi Abbadi in Islamabad so that they could diagnose the diseases of TB and Hepatitis which are very common in these areas.
while also helping non-paying supplier members in various overseas markets in establishing trust with potential buyers. The ‘Verified Membership’ programme is part of the company’s ongoing Trust & Safety initiatives. The proposed educational and training programmes on e-commerce and B2B, along with VM, will allow small businesses in Pakistan to grow their online presence and bring their storefront higher in search rankings at Alibaba.com. “With Karachi being the hub of business and commercial activities carried out in Pakistan, hundreds of thousands of small businesses from all manufacturing and industrial sectors have the potential to reach global audiences through the power of ecommerce,” said Awan.
China ‘fully prepared’ for currency war BEIJING AGENCIES
A top Chinese banker said Beijing is "fully prepared" for a currency war as he urged the world to abide by a consensus reached by the G20 to avert confrontation, state media reported on Saturday. Yi Gang, deputy governor of China's central bank, issued the call after G20 finance ministers last month moved to calm fears of a looming war on the currency markets at a meeting in Moscow. Those fears have largely been fuelled by the recent steep decline in the Japanese yen, which critics have accused Tokyo of manipulating to give its manufacturers a competitive edge in key export markets over Asian rivals. Yi said a currency war could be avoided if major countries observed the G20 consensus that monetary policy should primarily serve as a tool for domestic economy, the Xinhua report said. But China "is fully prepared", he added. "In terms of both monetary policies and other mechanism arrangement, China will take into full account the quantitative easing policies implemented by central banks of foreign countries."
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Yahoo closing seven products, including Blackberry app SAN FRANCISCO: Yahoo Incorporation is all set to shut down seven products, including its mobile application for Blackberry smartphones. Yahoo announced the shutdowns on its official company blog on Friday, which is part of what the company views as efforts to evaluate and review its product line-up. “The most critical question we ask is whether the experience is truly an everyday habit that still resonates for all of you today,” said Jay Rossiter, Yahoo Platforms Executive Vice President. The announcement is Yahoo’s second collective closure of products since Mayer, a former Google executive, became CEO of the struggling company in July. These closure announcements, in which multiple products are shut down, have become quite usual at Google in the past few years. Mayer hinted the company would trim down its line-up of mobile applications at an investor conference a month ago, adding that Yahoo would reduce the 60 to 75 distinct mobile applications bringing the number down to 12 to 15 applications. Yahoo said its application for Blackberry smartphones would not be available for download, or supported by Yahoo, from April 1. Yahoo also said on the same date it will stop supporting Yahoo Avatars. Consumers who want to continue using their avatar on Yahoo’s online services will have to download the avatar and then upload the information again to their personalised profile. The other products set to be trashed include Yahoo App Search, Yahoo Sports IQ, Yahoo Clues, the Yahoo Message Boards website and the Yahoo Updates API. AGENCIES
CORPORATE CORNER Brazilian Music for kids – Patubatê group gives workshop to children
ISlAMABAD: On Saturday, March 02, the Brazilian Group Patubatê gave a workshop for children with collaboration with the NGO Lettuce Bee Kids and Mashal Model School, which work with garbage picker children in Islamabad. In the hands of the musicians Fred Magalhães, Fernando Mazoni, Felipe Fiuza, Pablo Maia and the DJ Leandronik, scrap is not junk, it is music, since Patubatê uses raw and recyclable materials to build their musical instruments. Innovative sounds and a catching energy are extracted from cans, buckets, large barrels and even parts of automobiles, and children in Islamabad had the chance to be part in this amazing project. More than 60 children got
together in the Embassy for a musical gathering. They started by playing with the colorful barrels that are used by the band on their shows, the children watched an exclusive performance and were called on the stage to play with the musicians. After savoring a delicious lunch, the musicians taught the children how to make music out of scrap that were brought by them. Empty bottles, boxes and other kinds of recycle materials were used to help children express all their musical creativity.At the end, the musicians showed the children how to play capoeira, a Brazilian form of martial art that mixes music and dance. PrESS rElEASE
set up a Capital University of Science & Technology is to contribute to the higher education learning in the country by promoting innovation, research, training and learning in the fields of both science and technology.Needless to say that Punjab Group of Colleges is a trusted name in the field of quality education in Pakistan. We believe that Capital University of Science and Technology will also join the league with it’s par excellence educational programs. PrESS rElEASE
‘Unifoam Cricket Team’ beat by Pepsi Cricket team 66 runs
National Assembly passes Punjab Group’s CUST Bill 2013 ISlAMABAD: The National Assembly passed Punjab Group’s' Capital University of Science & Technology (CUST) Islamabad Bill, 2013. With this new inclusion, the number of universities owned and operated by Punjab Group has risen to three. Earlier, University of Central Punjab (UCP), Lahore and Mohammad Ali Jinnah University with its campuses in Karachi and Islamabad are offering Graduation, Post Graduation, M.Phil and PhD programs in the fields of Management Studies, IT, Mechanical and Electrical Engineering, Commerce, Pharm D and Social Sciences. The Group’s aim to
PeSHAWAR: The Bank of Khyber & AF Ferguson join hands and sign contract for Bank's process re-engineering. MD BOK & Partner of Ferguson sign at BOK Head Office Peshawar. Pr
‘Unifoam Cricket Team’ has defeated Pepsi Cricket team by 66 runs in corporate champions league cricket tournament. After winning the toss, Unifoam team decided to bat first and scored 155 runs in 20 overs, at the loss of 8 wickets. Pepsi cricket team failed to chase the total and bowled out on 89 runs in just 17.2 overs. Imtiaz Intazar of Unifoam played an outstanding knock of 37 runs followed by Mohammad Amir who scored valuable 33 runs. Mohammad Abbas of Unifoam cricket team was awarded as a Man of the match by taking 4 wickets in his 4 over spell. PrESS rElEASE