International Karachi, Sunday, October 3, 2010, Shawwal 23, Price Rs12 Pages 8
Commonwealth Games kicks off today $16.79bn 12.79% $3.56bn $6.25bn $(2.69)bn $(944)mn $1.72bn $267.10mn Rs 185bn $55.63bn Foreign Debt (Jun 10) Rs 4705.40bn Domestic Debt (Jul 10) $100.90mn Repatriated Profit (Jul- Aug 10) 3.05% LSM Growth (Jul 10) 4.10% GDP Growth FY10E $1,051 Per Capita Income FY10 170.69mn Population
Forex Reserves (24-Sep-10) Inflation CPI% (Jul 10-Aug 10) Exports (Jul 10-Aug 10) Imports (Jul 10-Aug 10) Trade Balance (Jul 10-Aug 10) Current A/C (Jul 10- Aug10) Remittances (Jul 10-Aug 10) Foreign Invest (Jul 10-Aug10) Revenue (Jul 10-Aug10)
SCRA(U.S $ in million)
49.23 -36.65 3.73 2311
NCCPL (U.S $ in million)
FIPI (01-Oct-2010) Local Companies (01-Oct-2010) Banks / DFI (01-Oct-2010) Mutual Funds (01-Oct-2010) NBFC (01-Oct-2010) Local Investors (01-Oct-2010) Other Organization (01-Oct-2010)
2.17 -2.88 0.67 1.01 -0.50 -0.38 -0.10
Global Indices Index
Close
Change
KSE 100
10,042.44
29.13
Nikkei 225
9,404.23
34.88
Hang Seng
22,358.17
20.50
Sensex 30
20,445.04
375.92
SSE COMP.
2,655.66
44.98
FTSE 100
5,592.90
44.28
Dow Jones
10,829.68
41.63
GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)
$.Price PKR/Shares 2.60 112.01 17.31 149.14 2.00 43.08 1.70 36.62 9.57 32.98
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
12.69% 12.82% 12.79% 13.50% 12.80% 13.07% 13.23% 13.62% 13.73% 13.85% 13.91% 14.00% 14.23% 14.21% 14.40%
22-Sep-2010 22-Sep-2010 22-Sep-2010 29-Sep-2010 01-Oct-2010 01-Oct-2010 01-Oct-2010 01-Oct-2010 01-Oct-2010 01-Oct-2010 01-Oct-2010 01-Oct-2010 01-Oct-2010 01-Oct-2010 01-Oct-2010
Commodities Crude Oil (brent)$/bbl 83.75 Crude Oil (WTI)$/bbl 81.58 Cotton $/lb 98.02 Gold $/ozs 1,317.80 Silver $/ozs 22.06 Malaysian Palm $ 886.00 GOLD (NCEL) PKR 36,466 KHI Cotton 40Kg PKR 7,555 Open Mkt Currency Rates Symbols Buy (Rs) Sell (Rs)
Australian $ 82.80 Canadian $ 82.80 Danish Krone 15.00 Euro 116.90 Hong Kong $ 11.00 Japanese Yen 1.019 Saudi Riyal 22.95 Singapore $ 65.00 Swedish Korona 12.10 Swiss Franc 84.90 U.A.E Dirham 23.45 UK Pound 135.40 US $ 86.45
83.80 83.80 15.40 118.10 11.40 1.045 23.15 66.00 12.60 85.90 23.65 137.10 86.75
Inter-Bank Currency Rates Symbols
Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $
Buying TT Clean
Selling TT & OD
83.48 83.73 15.79 117.66 11.10 1.032 22.97 65.51 12.81 87.94 23.46 135.51 86.16
83.67 83.92 15.82 117.94 11.13 1.035 23.02 65.66 12.84 88.14 23.51 135.83 86.35
Weather Forecast CITIES
ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI
MAX-TEMP
33°C 39°C 36°C 37°C 30°C 34°C
MIN
16°C 24°C 24°C 22°C 12°C 18°C
Subscribe now Tel: 92-21-5311893-6 Fax: 92-21-5388428 Email: editor@ thefinancialdaily.com
www.thefinancialdaily.com
See on Page 8
White House sees no Army rule in Pakistan
See on Page 8
Stick to reforms, ADB tells Pak
Portfolio Investment
Total Portfolio Invest (23 Sep-2010)
See on Page 8
No compromise on sovereignty: Sharif
IMF programme to benefit economy in long-run
Economic Indicators
Yearly(Jul, 2010 up to 30-Sep-2010) Monthly(Sep, 2010 up to 30-Sep- 2010) Daily (30-Sep-2010)
Police, lawyers at each other’s throat
MUZAFFARGARH: Prime Minister Yousuf Raza Gilani distributing Watan Cards to the flood affectees in Kot Addu.-APP
Gilani distributes Watan Cards in Kot Addu
Parties united to help affected: PM KOT ADDU: Prime Minister Syed Yousuf Raza Gilani said Saturday political parties might have different perspectives from each other but they were united to mitigate the sufferings of flood-hit people. Prime Minister expressed these views while addressing a ceremony for distribution of Watan Cards among flood hit people at Kot Addu tehsil of Muzaffargarh district, the second city in south Punjab that was submerged by furious floods after Daira Deen Panah last August. Punjab Chief Minister Mian Muhammad Shahbaz Sharif was also present. He said that winter was
approaching fast and appealed to the philanthropists and NGOs to donate tents for flood-hit people to save them against sever cold weather. He said the government would not sit idle till distribution of Rs20,000 assistance among affected families through Watan Cards and added that it would be enhanced up to Rs100,000. Repair and reconstruction of demolished houses may take a month or two and people will certainly need temporary shelter during the winter season, the PM observed. He pledged all possible support to flood affected people and added that resources would
Zardari’s popularity declining
Haqqani snubs chances of coup WASHINGTON: Pakistan's ambassador to US Hussain Haqqani said despite declining popularity of President Zardari there is no chance of another military coup in the country. In an interview with a US TV channel, Haqqani said that President Asif Ali Zardari despite his declining popularity among the masses has been continuing efforts to make improvements, adding that in last 60 years, the country has witnessed four military takeovers but now everyone has learned lessons from such dictatorial adventures. He said Pakistan aimed at peace and stability in Afghanistan and supporting reconciliation efforts to restore stability in Afghanistan. Pakistan aims peaceful settlements with India on all the confronting issues between both the neighboring countries including
Kashmir and wanted meaningful dialogues between both the countries, Haqqani said. Pakistan's ambassador to America also pointed out that people in Pakistan were not satisfied with American policies and strategies in the region as no doubt America provided assistance to Pakistan but didn't provide its stance before the masses in Pakistan. Responding to a query, he said that supply line of Nato forces from Pakistan to Afghanistan has been halted due to possible public reaction against incursion of Nato attack inside Pakistani territory and martyrdom of Pakistani military men adding that Torkham border has been closed after violation from Nato helicopters and in these circumstances if the supply line is restored, it might create security problems. -Online
be made available to the provincial governments for onward distribution among the affectees. "We are making efforts jointly to serve flood-hit people," the PM said. He specifically lauded services of Chief Minister Mian Muhammad Shahbaz Sharif for flood-hit people and also thanked workers of all parties, office-bearers, MNAs, MPAs, ministers and advisors for their contribution. "Our ideologies may be different but we are united to mitigate the suffering of poor and deprived flood affected people." "It is the beauty of our reconciliation policy that slogans are See # 14 Page 7
Drone attacks kill 18 in NWA MIRANSHAH: Two US drone attacks killed 18 militants in Pakistan on Saturday, intelligence officials said, after recent Nato incursions raised tensions with an ally Washington needs in efforts to stabilise Afghanistan. The United States has widened pilotless drone aircraft missile strikes against al Qaeda-linked militants in Pakistan's northwest, with 21 attacks in September alone, the highest number in a single month on record. On Saturday, two drone attacks within hours of each other killed 18 militants in Datta Khel town in North Waziristan tribal region along the Afghan border, intelligence officials said. "In the first attack two missiles were fired at a house while in the second attack four missiles targeted a house and a See # 10 Page 7
ISLAMABAD: Pakistan should stick to IMF reforms in order to secure enough financial support to rebuild after devastating summer floods and stabilise its economy, the Asian Development Bank (ADB) said. Pakistan is reeling from floods, which made more than 10 million people homeless, ripped apart infrastructure and damaged or destroyed crops over an area of 2.4 million hectares. More than 1,750 people were killed. Heavy financial support was critical for Pakistan long before one of the country's worst natural disasters struck. An International Monetary Fund (IMF) reform package agreed in 2008 had helped keep the economy afloat. Although pressure on Pakistan eased after the IMF approved a $451 million emer-
Uncertainty looms over IMF next tranche Monitoring Desk KARACHI: Uncertainty looms over the fate of next tranche of International Monetary Fund (IMF) as its Director to Pakistan Paul Ross Saturday emphasised Islamabad to complete its economic review in time in order to qualify for the next tranche. According to the media sources, Fund Director Paul Ross met official of Finance Ministry and See # 12 Page 7 gency fund to help it rebuild and West Asia department. "We must continue with the after the floods, the ADB said delaying reforms would only reforms. This is our position. That's the way in which you hurt the country. "What Pakistan should not can help people in the longer have a problem with is continu- run." "We still have a programme ing with the reform agenda. I am sure actually (this would) with the IMF, and that is not underpin a lot of donor support something that you stop and for not only the floods but for then you start again. The econthe stabilisation of the econo- omy will benefit by a continuamy," said Juan Miranda, ADB's tion of the reforms. It's not a See # 13 Page 7 director general for its Central
Killing of Pak soldiers by Nato choppers
Presidential Pardon
Joint probe into attacks launched
SC returns govt plea
ISLAMABAD/ KABUL: Nato accepting Pakistan Army Chief General Ashfaq Pervez Kayani's demand has started a joint investigation into the border incursions that killed three Pakistani soldiers last week. The investigation team led by officials of the Pakistan army has reached Kabul to this effect. The three Pakistani troops were killed in an early morning raid on Thursday when Nato choppers fired at a Pakistani military post 200 metres inside the border in Kurram Agency. According to defense sources, Army chief raised the issue of repeated border incursions by the Nato troops with the senior US and NATO officials and stressed for action against the responsible and
Nato supplies remain blocked PESHAWAR: A blockade of the main land route for Nato supplies from Pakistan into Afghanistan continued Saturday as queues of trucks and tankers formed at the border crossing, officials said. Pakistan halted the convoys on Thursday after officials blamed cross-border Nato helicopter fire for the deaths of three Pakistani soldiers. See # 6 Page 7 probe into the incident. The team would also consist of NATO and US officials. See # 7 Page 7
Musharraf calls Sharif headless Monitoring Desk BIRMINGHAM: Former president Pervez Musharraf addressing a gathering here Saturday called Nawaz Sharif ‘totally brainless’. He said Sharif got elected twice but both the times he completely failed to deliver. Meanwhile Musharraf has said Pakistan needs new politics and fresh political culture, which will help eradicate decades long failed politics from Pakistan, media
reported. In a televised interview in US, Musharraf admitted that he made grave mistakes at the end of his tenure including encountering with judiciary and imposition of emergency in civil society. US support is never appreciated in Pakistan, therefore I have not sought it as yet, he replied to a question, adding that Pakistan army is better encountering than US-led allied forces. See # 8 Page 7
ISLAMABAD: The Supreme Court of Pakistan returned with objections a petition filed by the Law Ministry regarding presidential powers to issue pardon, media reports Saturday. Earlier Saturday, the Law Ministry has filed a plea in the apex court stating that the sentences waived by the President could not be restored by courts as head of the state enjoys authority to grant presidential pardon under article 45 of the Constitution. See # 11 Page 7
President, PM condemns
Swat varsity VC gunned down MARDAN: Renowned Islamic scholar Dr Farooq Khan Vice Chancellor of Swat Islamic University was killed in firing incident in Mardan, a private television channel reported Saturday.
While quoting the police, the report said that Dr Farooq was coming out of his clinic located See # 9 Page 7
COAS hands over list of incompetents MPAs to President Zardari
Kayani wants removal of corrupt ministers ISLAMABAD: General Ashfaq Parvez Kayani has handed over a list of corrupt or allegedly incompetent ministers to President Asif Ali Zardari, demanding their removal, a British newspaper has reported. Quoting western and Pakistani officials, daily 'The Guardian' reported that the tension between Pakistan's civilian and military leaders is the latest political fallout from historic floods that have triggered stringent criticism of the govern-
ment's handling of the crisis. "Much of the controversy centres on Zardari, who brought scorn on himself by visiting a family chateau in France as the floods gathered pace in August - a move advisers admit was a public relations disaster," says the report by Declan Walsh. According to the daily, senior western official confirmed reports that the army chief had asked the president to remove named loyalists from his 60-
member cabinet as part of an internal reform process. The official did not give the requested names. Analysts said the army stance reflected a broader public impatience with the government's performance. An opinion poll taken last July gave Zardari a 20 per cent popularity rating. The daily says over the past week the country's political classes have been seized by a wave of rumours about an army intervention in politics, ranging
from the installation of a Bangladesh-style technocratic government, to the removal of Zardari, to a straightforward coup. A close Zardari aide denied that the army was pressuring the government. "It's absolute rubbish. This is a rumour-driven crisis, driven by those with a pathological hatred of president Zardari and the PPP. They have been predicting his downfall from the day he was elected. And they have been
wrong," he said. The report says Zardari's woes are complicated by the hostility he faces from Chief Justice Iftikhar Muhammad Chaudhry. Few see it as a coincidence that the Supreme Court this week resurrected its efforts to have Swiss authorities prosecute Zardari on corruption charges. "Talk of a coup, however, seems unlikely. The army is still smarting from the damage to its reputation caused by the rule of General Pervez Musharraf, who
is now plotting a political comeback," it adds. And there is little appetite for unconstitutional change from British and US officials. Two senior diplomats said that, flawed as the Zardari government was, the preferred course of action was for the present government to see out its fiveyear term. It has so far served two and a half years. "That's the only way to bring long-term stability," said one official. -Online
2
Sunday, October 3, 2010
REAP team to visit Kenya KARACHI: A sevenmember delegation of Rice Exporters Association of Pakistan (REAP) will leave for Kenya on Monday under the leadership of former REAP chairman Rafique Suleman to resolve the burning issues being faced by Pakistani rice exporters at Kenyan ports during last few months. "Since July 2010, several complaints had been received from Pakistani Rice Exporters as well as importers in Kenya that port authorities are not releasing rice containers despite fulfilling all the formalities, which gained severity in August 2010," REAP said in a press release on Saturday. All these problems created by Kenya Revenue Authority (KRA) are also resulting in extra charges being added up by the Kenya Port Authority (KPA), the Container Freight Stations (CFS) and the shipping lines on account of demurrage. For an infringement by the KRA, the importer has to unnecessarily foot this bill resulting in the Kenyan consumer paying more for the goods that would not have been that expensive. Importers of Pakistani rice in Kenya have either cancelled their pending orders or have put them on hold. KRAs undue actions have become a problem for the economy of Pakistan. "With rice being a major revenue earner for the exchequer, we are not sure how the related ministries are going to handle this situation. We just hope and pray that bilateral trade between our countries remains intact," the REAP said.-Online
Reformed General Sales Tax postponed
Traders concerned for zero-rated sectors
KARACHI: Sindh Chief Minister, Syed Qaim Ali Shah presides over meeting regarding Post Flood Development Strategy held at CM House in Karachi on Saturday. -PPI
PQA criticises realty taxation Staff Correspondent KARACHI: Port Qasim Association (PQA) of Trade and Industry strongly criticising the unilateral and illegal imposition of property tax has termed it unethical and unlawful and as PQA copes under the domain of Sindh and local Governments have demanded immediate withdrawal of such taxes. Meanwhile the surrounding area of Industries is the possession of Port Qasim which was allotted for 50 year's for industries. Government has also failed to clear previous refund tax, this was said in a meeting held at Ali industries presided by Mian Muhammad Ahmad, Founder President of Bin Qasim Association of Trade & Industry
(BQATI). On this occasion Member Managing Committee, Farhan Ansari taking up the issue of property tax by relevant department and other government agencies, briefed all members and association about the latest development since 2004. All industries were issued Challans the by District officer property tax division regarding levy of property tax and demands were made for the outstanding amount of property tax, which included arrears since 2001. It was the first time such a demand was received by industries of the area. Therefore no such tax levied previously, valuation of proprieties was even not made and assessments were made on visu-
al survey with out conduction physical inspection and correct measurements of covered area, and the basis of assessment was not shared with assesses. He informed to the member of association that property tax has been done taken by industries of Port Qasim Area is un lawful and illegal act with out conducting a public hearing for inclusion of its area administered by the Federal Ministry of ports and shipping as rating area for levying of property tax. Its has been decided that property tax can not be levied on industries entities as the land belongs to PQA and it has been allotted for specific period of 50 years and all the industries are paying peripheral development charges to PQA.
TV PROGRAMMES SUNDAY Time Programmes 7:00 8:00 9:05 10:05 12:00 13:10 14:10 15:00 16:00 17:00 18:00 19:05 19:30 20:05 21:00 22:05 23:03
News News Manzil (Rpt) The Reema Show (Rpt) News Faisla Aap Ka (Rpt) The Anchor (Rpt) News News News News I Samaa Mutasareen The Reema Show News Tafteesh Faisla Aap Ka
SUNDAY Time Programmes 8:00
Pakistan This Week (Rpt) 8:30 Filmi Samaa (Rpt) 9:00 Awam Ki Awaz (Rpt) 10:00 Smithsonian Documentry 11:00 Tijarti Dunya (Rpt) 11:30 Dilkash Pakistan (Rpt) 12:00 Kamyab (Rpt) 13:00 AM Agenda 360 (Rpt) 14:00 Amnay Samnay (Rpt) 15:00 Tesri Nazar 16:00 Music Scene (Rpt) 16:30 Pakistan This Week (Rpt) 17:00 Kamyab (Rpt) 18:00 Dilkash Pakistan (Rpt) 18:30 Sara Jahan 19:00 Tesri Nazar (Rpt) 20:00 Badalta Pakistan 21:00 Agenda 360 22:00 Uff TV 22:30 Red Carpet 11:00 Awam Ki Awaz (Rpt) 12:00 Agenda 360 (Rpt)
KARACHI: Interior Minister Sindh A Rehman Malik talking to Sindh Governor Dr Ishratul Ebad Khan during a meeting at Governor House. -APP
PCDMA demands reduced mark-up KARACHI: Newly elected Chairman Pakistan Chemical and Dyes Merchant Association (PCDMA) Haroon Agar has urged the government to reduce mark-up rate, utility tariff and custom duty. Speaking at 37th annual general body meeting of the association he said that the government should start process in consultation with stakeholders before finalising the imposition of any new tax or enhance tax rate. He said that the government must give up its
move to further burden taxpayers and work for discovering new avenues for generating revenues. He pleaded that with the reduction of duties and utility tariff, cost of doing business will be reduced which ultimately reduce prices of end products. He emphasised the need of unity among different groups of business community to face economic crisis. Earlier, Convenor Election Commission, Arshad Usman announced the election results and declared that Muhammad Haroon Agar
has been declared elected as chairman and Shaikh Imran Saleem as Vice Chairman of the association. Others who have been elected as members of the corporate class executive committee members includes Mohammad Haroon Agar, Aftab Ahmed Batla, Arshad Kamal and Humayun Izhar. Thos who have been elected as associate class executive committee members include Shaikh Imran Saleem, Shakeel Fateh, Faisal Fakhar, Mohammad Yahya Arshad and Irfan Salim.-Online
ISLAMABAD: Karamat Ullah Khan Chagharmatti, Speaker KP Assembly chairing a high level meeting regarding resumption of Oil & Gas exploration work at Maramzai Flow Line Project. Liaqat Shahab, Provintial Minister for Excise & Taxation, Ali Murtaza, Political Advisor MOL Pakistan, Ahmad Nawaz, Director Operations MOL Pakistan and Lt Col (Retd) Niaz Safdar, Manager Community Development MOL Pakistan along with other dignitaries also attended the meeting.-PR
Power tariff hike to strike economy ISLAMABAD: The Pakistan Economy Watch (PEW) on Saturday said that two per cent hike in power tariff is a serious blow to economy and poor people. Power tariff hike coupled with recent policy rate review amounts to damaging economy for the sake of foreign masters, it said. Reformed GST will not substantially add to government kitty; it will only trigger inflation and bribery, said Dr Murtaza Mughal, President PEW. "New taxes aren't acceptable before imposition of agricultural income tax which the lawmakers are avoiding since decades," he said. He said that the recent policy rate hike is unfortunate; it suggests that the central bank is not ready to believe government's ability to support fiscal needs from revenue. SBP is yet to realise that economy is unable to swing against this tide. SBP will continue to hike interest rates in future, he said. He said that new valuation table for urban property introduced by government of Sindh indicates the confusion among the provincial tax officials. -NNI
Gilani appoints new TDAP chairman ISLAMABAD: Prime Minister Yousaf Raza Gilani has appointed Tariq Puri as Chief Executive to Trade Development Authority of Pakistan (TDAP). He was serving as Federal secretary at the Ministry of Labour & Manpower and Ministry of Investment / Board of Investment. Tariq Puri has to his credit the distinction of serving the Federal Government for the last 37 years with versatility of experience both in Government and Corporate Sector. He acquired extensive hands on experience of multilateral and bilateral trade and investment negotiations and remained proactively engaged with foreign investors in attracting investments into Pakistan. As Federal Secretary in his role as top policy maker at the Ministry of Labour & Manpower and Ministry of Investment / Board of Investment, he led with an outward looking vision and contributed in introducing contemporary concepts and out of box solutions for national issues. As Pakistan's Chief Trade Negotiator to the 27 States European Union & World Customs Council in the capacity of Minister (Economic/Customs/Trade ) at the Pakistan Mission at Brussels campaigned for greater market access, lifting of anti-dumping duty on bed linen export, economic assistance, custom co-operation and other related matters.-Online
KARACHI: Leader of business community and former President FPCCI, S M Munir has emphasised the need that the government must keep zero rated sectors far from Reformed General Sales Tax (RGST). Speaking at launching of Senator Abdul Haseeb Khan's book "Pakistan Ka Hakim" (Rulers of Pakistan) at a simple ceremony, he said that the postponement of implication of RGST for one month is a blessing in disguise and added that it provided time to interact with authorities to convey them point of view of business community. Referring to refund of GST, he said that the chairman Federal Board of Revenue (FBR) has hinted that GST will be refunded in just 24 hours under reformed GST system. Munir noted that claims of huge amount of business community have
already piled up with FBR and in spite of several promises of releasing it remains with the FBR. He advised President FPCCI Sultan Chawala to approach chairman FBR and invite him for discussing the issue. Referring to the book, he said that it has welldescribed the 63 years history of Pakistan and pointed out what various rulers have done with the country during their rule. He said that the book has noted both good and bad moves of the rulers in a way that the readers can easily understand why the country has reached on its present state of mayhem. President FPCCI, Sultan Chawala said that in 200 pages the writer has described the history of Pakistan without naming any leader but it gives a complete picture of the rulers and what they have done with the country. Senator Abdul Haseeb
National carrier needs financial discipline: Palpa Staff Correspondent KARACHI: Instead of bringing financial discipline to make the national flag carrier, Pakistan International Airlines, a viable entity and nation's pride, its inefficient and incumbent management has come up with yet another financially unviable idea of conveying instructions about flight schedule to the pilots through short message service giving the impression that its frequent flight delays are due to improper communication, this was stated by PALPA spokesman in a statement issued today. The statement said through this innovative idea the PIA administration has indicated that the time tested practice of informing the pilots of flight schedule and their duties (through rosters) would be discontinued after November 1, 2010. The spokesman revealed that the activity will prove to be futile as it is not "the lack of information" but actually the ill planned and ineffective planning of ros-
ters which jeopardises the timely departures of flights. The administration has always tried to bypass the global aviation safety rules specially after bringing PIA flying crew under the essential services act; it cannot be allowed further to risk the life of passengers and ruin the national asset. The Spokesman said that the SMS project will unnecessarily cost PIA around Rs 5 million annually while 600 mobile phones would have to be purchased additionally besides PIA is bound to foot the monthly bill of Rs 500 for each connection. The airline is fast drifting from financial boom to bust losing billions annually while two other airlines are performing much better in the same domestic markets. Its issue with the pilots mainly relates to compliance with the global safety procedures in which the national carrier seeks concessions from Civil Aviation Authority forcing the pilots to risk the life of the passengers by performing duties beyond human limit.
US donates $148mn for Punjab edu LAHORE: The United States has agreed to provide $147.9 million to Punjab government to help improve public education in the province of Punjab in five years. An agreement to this effect was signed between the United States Ambassador to Pakistan Anne W. Patterson and representatives of the Government of Punjab during a ceremony held here. According to a press release issued by the US Embassy here, the program will focus on restoring missing facilities in 5,000 schools, which will help increase access and improve the quality of basic education in these schools. The money will also be used to rehabilitate more than 500 floodaffected schools, fund school management committees, purchase text books and provide training to school staff. "We also seek to help the
Government of Punjab improve the governance in schools by involving school councils in the rehabilitation process," Ambassador Anne W Patterson said. "The project will provide funding for the strengthening of local school management committees to help promote a sense of community ownership and responsibility for each school." The program, which will focus on the underserved Khanewal, Multan, Bahawalpur, DG Khan and Rajanpur districts, seeks to improve access to quality education in a region that has become increasingly important to Pakistan's stability. It will help Punjab increase its capacity to deliver quality education in underserved areas while empowering communities to get involved in their children's learning, improve the quality of learning experience, and reduce drop-out rates.-NNI
Khan said that transgression of the rulers has divided the country into two but they have no tears in their eyes. He said that Pakistan was created for Muslim to have their homeland and live with peace and tranquility but the acts of our rulers have created animosity among masses. He said it is irony that the country has population of more them 170 million peoples out of them only 2.5m were paying taxes. He said that the country facing serious problems including industries in crises, decline in exports and increase in imports. He opposed privatisation of PIA and Pakistan Steel Mill and suggested that a board should be constituted comprising honest people and the board be made responsible to appoint management to run these units profitably.-Online
Pak- Egypt business council soon Staff Correspondent
KARACHI: Vice President SAARC Chamber of commerce has announced that soon a 15 member Pak Egypt Business Council will be formed to jointly promote bilateral trade. While talking to media he said that already the constitution preparation and other relevant action are underway in which initially the council will focus on 12 sectors including Textile, Te l e c o m m u n i c a t i o n , Information Technology, Agriculture, Energy, Automobile, construction, Banking, Finance and Engineering. He said that during the visit of Pakistani Foreign Minister Shah Mohammed Qureshi's visit to Egypt the Council will be officially launched. He quoted World Bank report in which it was high lighted that by forming the Business Council both countries can boost the bilateral trade manifold.
JSIL declares interim dividends KARACHI: The Board of Directors of JS Investments Limited (JSIL), the Management Company of JS Income Fund (JS IF) and JS Cash Fund (JS CF) approved interim dividends for JS IF and JS CF for the first quarter of Financial Year 2011, ended September 30, said a handout issued here. A pay out of Rs2 per unit was approved for the Unit Holders of JS IF while an interim payout of Rs2.00 per unit was approved for the Unit Holders of JS CF. Unit Holders who have opted for cash payout will receive cash payment while Unit Holders who have opted for bonus units will be allocated units at the ex-net asset value at the close of business on September 29, 2010. The above entitlement will be paid to the Unit Holders, whose names appear in the register of Unit Holders at the close of business on September 29.-PR
Analysis & Feature
Sunday, October 3, 2010
3
SOARING CHINESE ECONOMY AT ODDS WITH CLIMATE GOALS J
ust last year experts at the International Energy Agency proposed a target for China's carbon emissions to peak in 2020 before declining if the world were to be saved from devastating climate change. Too late now. Figures from energy firm BP showed earlier this year that Chinese emissions will steamroll through the Parisbased IEA's 2020 peak target next year, nearly a decade early, with no sign of slowing down. China, which hosts U.N. climate talks next week for the first time, is promoting what it calls ambitious plans to boost energy efficiency and curb emissions. But its supercharged growth means even with rapid efficiency gains it cancels out other global efforts to combat climate change. China already emits a quarter of the world's CO2, the main gas contributing to global warming, making it the world's top emitter ahead of the United States. Its emissions have more than doubled since 2000. Higher emissions from China and other big emerging economies, plus the failure of rich countries to slash emissions, could pump greenhouse gases to levels which scientists say augur a dangerous rise in average global temperatures by more than 2 degrees Celsius (3.6 F). The IEA's suggested target for China of 8.4 billion tonnes of CO2 per year by 2020, which would then fall, is in line with most other research for a safe peak, said Michel den Elzen at the
Netherlands Environmental Assessment Agency. But the latest figures released by BP and den Elzen's agency in June show China will hit that figure in a matter of months, rather than over the next decade. "They are hitting that level earlier than expected because of their rapid growth the last decade," den Elzen said. "For meeting a 2-degrees target (of increasing global temperatures) such a high emissions rate is definitely bad news." China's rapid economic growth is helping underpin a fragile global recovery, but it is also increasingly at odds with safe levels of greenhouse gases. Policy makers recognise it is difficult to say what is a "fair" emissions target for China, which is rapidly pulling its huge population out of poverty. "It's difficult to say that there's a benchmark for China which they should not exceed, because there are all kinds of issues, equity principles, on what you allocate for China," den Elzen said. China does not control the agenda of next week's U.N. climate meeting in the northern port city of Tianjin, which runs from Oct. 4-9. Beijing is not expected to announce any new carboncutting measures in the talks. Still, the government could still use the conference to promote its own emissions curbing goals, to be incorporated into a five-year economic plan that starts from 2011. China has resisted an absolute cap on its greenhouse gas emissions, like
those developed countries are expected to implement. It says a cap would be unfair because it contributed less to the problem historically, its emissions per capita are still relatively low and it needs leeway to grow its economy. Instead, its focus is on reducing "carbon intensity" - the amount of the main greenhouse gas, carbon dioxide (CO2), emitted for each dollar of economic activity. It plans to reduce this by 4045 per cent by 2020 compared to 2005. But even with such big efficiency gains, China's expected rapid economic growth will push its absolute volume of emissions to between 9.6 and 10.1 billion tonnes of CO2 per year by 2020, compared with 5.2 billion tonnes in 2005, according to a study from the Chinese Academy of Sciences. Its emissions rose about 9 per cent last year, faster than any other major economy. If sustained that rate "would torpedo efforts for the global 2 degrees target", said Malte Meinshausen, from the Potsdam Institute for Climate Impact Research (PIK). FIVE-YEAR PLAN The emissions projections underscore the wrenching economic shifts that China would have to achieve in order to help contain global CO2 levels at a point less likely to trigger worsening droughts, floods and extreme weather. Even without an absolute cap, China's carbon intensity target will be tough, government officials and advisers say.
"Without a fundamental transformation of the development model and substantial adjustment of the industrial structure, China will find it impossible to achieve the 2020 emissions reduction goal," said the Chinese Academy of Sciences study. China's new five-year plan and a follow-up one for 2016-2020 will detail how to reach the intensity goal and shift to low-carbon growth. But it is struggling to meet an existing target to cut energy intensity by 20 per cent
from 2005-10. The most energy wasteful plants have mostly already been shut under that plan, and achieving further improvements will require more refitting of factories and plants and other more expensive measures, said Deborah Seligsohn, a Beijing-based climate policy expert working for the World Resources Institute. China has won plaudits for investing in clean energy, making it the world's biggest wind power market last year,
but a big majority of its energy will continue to come from high-carbon coal, at 69 per cent and 64 per cent in 2009 and 2015 respectively, according to national forecasts. China could opt for a more stringent greenhouse gas goal from 2016 if it found the costs of carbon cutting and energy saving fall and other big emitters also took steeper cuts, said Barbara Finamore, Director of the China Program at the Natural Resources Defense
Council, a US environmental group. The country will face mounting international pressure. "They've just announced an increase in carbon emissions which is the same scale as the entire carbon emissions of the United Kingdom," said British energy and climate change secretary Chris Huhne last week. "All the carbon emissions reductions throughout the world are effectively cancelled out by China's increase." -Reuters
Germany commemorates its re-unification Zahid H Karani
T
he Federal Republic of Germany has come a long way since the reunification of East and West Germany, 20 years ago, on 03 October, 1990. This reunification fulfilled the dreams and aspirations of millions of Germans living in two different parts of Germanys that had two totally different ideologies and lifestyles. Historians and political and social analysts have called the reunification event as one of the defining moments of history which spelled the dawn of a new era for Europe and an event which has no historical precedent. In fact it was such a momentous event and a first in the fact that a political epoch was achieved without a single drop of blood being shed or a human life
Germany, a reliable partner Message from German Foreign Minister Guido Westerwelle
T
he images that will forever be linked with the unification of Germany are evocative: a euphoric nation, jubilant masses at the Brandenburg Gate, people in each others' arms, laughing and crying for joy at the same time. The crowd shouting "We are the people!" The whole world witnessed the power that courage can unleash and how people's desire to be free can topple a dictatorship. The political unification of the two German states followed a year later, on 3 October 1990. The twentieth anniversary of German Unity gives us an opportunity to look back and be thankful - that the path to a unified Germany turned out to be so unexpectedly straightforward and was travelled so fast. We are grateful to our Western and Eastern partners for this. Indeed we will never forget the support and sympathy they demonstrated during our unification process. Germany promised that, in return for unity in freedom, it would be solidly integrated into Europe and the international community. We will keep that promise. Over the years, together with our partners, we have achieved a great deal in Europe. Today 500 million Europeans from 27 countries live in a common judicial area in peace and freedom. The European Union is a unique, successful reconciliation and peace project. 20 years after German Unity, it remains our task to make the world a more peaceful and pleasant place in which to live. German foreign policy is peace policy. We are facing numerous challenges that we in our globalised world can only tackle together. Disarmament, climate change, energy supply and demographic development are only a few of the major issues Europe and the world must address in the future. German unification taught us that the seemingly impossible can happen after all if you have the courage and the willingness to take the right decisions. Germany will be a reliable partner in this endeavour. lost. The end of World War II in Europe in May 1945 came about with the total surrender of the Third Reich and the occupation of Germany and its carving up into four parts by the Four Allied Powers and then division into East and West Germany in 1949. The division was to last for the next 40 years tile the historic moment when the Berlin Wall fell on 09 November 1989, leading to the collapse of East Germany or German Democratic
Republic (GDR) as it was officially known, and the reunification of East and West Germany on 03 October 1990. This reunification process has absolutely no historical precedent. What is all the more surprising and admirable is that the two halves have come together as if they had never been cast apart for more than 40 years. This credit goes entirely to the German people that they made an extraordinary effort and worked very hard to make the transition of two states into one united Federal Republic of Germany. However, much remains to be done. The 2009 Annual Report of the Federal Government on the
Status of German Unity states that despite considerable progress, there are still differences in mutual perceptions between East and West Germans. The report states that there is a feeling among many people in East Germany of being disadvantaged both in terms of their financial situation and social status. Many East and West Germans still regard each other as foreigners. However, these are minor hiccups, and the actual situation on the ground is that much has been done to bring the former East Germany at par with West Germany. In fact, the main political objective of the federal government is for
East and West Germany to grow together. Nowadays, there is hardly any difference anymore in the living standards of most Germans, both in terms of living conditions and perks and privileges enjoyed.s One should remember that differences are a natural phenomenon and the essence of a democracy, in terms of values, attitudes and political views. But the citizens of east and West Germany agree on major points. There has been great progress in economic and social integration while a few challenges remain, which the people from East and West will overcome and that too UNITEDLY.
4 Sunday, October 03, 2010
The Financial Daily International Vol 4, Issue 59
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA
S. Muneer Hussain Rizvi
Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Akhtar M. Zaidi, FCA
Prof. Zakaria Sajid (KU)
Dr. A. Hadi Shahid, FCA
Zahid Bukhari SVP HBL (retd)
Muhammad Arif
Ismat Sabir Head office
111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-5311893-6 Fax: 92-21-5388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com
Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com
Can Musharraf make a difference? Retired general and past president of Pakistan, Pervez Musharraf announced the debut of his political party All Pakistan Muslim League from London. He apologised to the nation for the mistakes he committed, which led to tendering of his resignation. His entry in the politics is being vehemently criticised by many political parties, particularly PPP and PML-N and their clout. One may disagree whatever he had said but is it not the fact that elected government had plunged the country deeper into the crises? It is true that Pakistan faces external threats and also has to deal with the embedded enemies but can the government deny non-adherence to good governance? Blaming Musharraf government for joining the US war on terror is easy but what is reply for inability to stop the US incursion into Pakistani border? It is on record that PPP and PML-N were and still are the most stringent critic of each other, but was it not Musharraf who made them sign 'Charter of Democracy'? Though, their opposition to each other is termed 'friendly opposition' the bitterness is often evident from the uttering of the leaders of these two leading political parties. Some of the quarters are opposed to his launching a political party because they consider him a potential threat, though they deny this every forum. This inherent fear is based on the clout enjoyed by Musharraf globally, though they may not acknowledge this with an open heart. As regards participation of any individual in Pakistan's politics there can't be any restriction as long as he or she meets the basic criteria. If Benazir Bhutto and Nawaz Sharif were allowed to come back to Pakistan and participate in politics, why any resistance against Musharraf? Let him go through the rigorous process and give a chance to public to accept or reject him and his political party. It seems that many of the politicians are one way or the other scared of Musharraf because those intending to replace recognise their limitations. Saying that his entry in Pakistan politics would be opposed can't serve the purpose. Democracy in Pakistan can flourish only when there is a strong opposition, supremacy of law and adherence to good governance. If Musharraf had committed some horrendous mistakes, worst are being committed by the present rulers. Many of the moves have to be taken back after the worst criticism. Nation has the right to ask a question. What is being done by the ministers and advisors? Are they there to get the benefits but do nothing to bring the country out of the prevailing mess? Let every one remember that it is the deeds and misdeeds of a politician which makes him or her popular or otherwise. If the present regime believes that it is doing the best, it need not be cared by any one.
Disclaimer:
All reports and recommendations have been prepared for your information only. Summary and Analysis are not recommendation to buy or sell. This information should only be used by investors who are aware of the risk inherent in securities trading. The facts, information, data, indicators and charts presented have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. The Financial Daily International and its employees are not responsible for any loss arising from use of these reports and recommendations.
How Dubai Got Serious ? Amran Abocar and Raissa Kasolowsky
O
nce filled with the cacophony of cranes and construction laborers, Dubai today hums to the work of a quieter crowd. The brash Gulf emirate, renowned for extravagant real estate projects and flashy living, has turned into a city of auditors. As they pore over the detritus of last year's debt crisis, the accountants and lawyers face a task as huge as Dubai's ambitions. The emirate's flagship firm Dubai World has agreed to repay $25 billion of debt, the borrowings that nearly brought down the emirate's economy. The auditors' task is to investigate exactly where the money went, who lined whose pockets, and what other financial landmines might lay in the store. Forensic audits at state-linked firms, such as Dubai Holding, are part of a wider corruption probe that has targeted senior figures from Dubai's boomyears. But even as the accountants work to get to the bottom of the financial mess, Dubai is changing. Its rescue last year by Abu Dhabi details of which Reuters reports here for the first time has encouraged the state to become more conservative, both politically and socially. Dubai's crisis prompted a shift of power to the rulers in Abu Dhabi, the wealthiest of the seven states that make up the United Arab Emirates. Now a chastened Dubai is recovering some of its confidence as it seeks to convince international investors it can deliver now where last year it failed. Questions remain. With Dubai's old guard at the helm rather than the young high-flyers who many blame for the crisis, can Dubai ever achieve the sort of growth it once boasted? Or, given that the economy depends so heavily on trade and tourism, could it be tempted to return to the excesses of the past? "The Dubai growth model that was talked about so much and propagated in the media has changed now," says Christian Koch, director of international studies at the Gulf Research Center. "The crisis forced Dubai to take on a much more realistic approach." Nakheel Sock Abu Dhabi's ascendancy began in the wake of global credit crunch of 2008. Reports about debt trouble in Dubai's flagship companies had been circulating within government from as early as 2005, though most people seemed happy to ignore these. In 2008, the end of a sixyear oil-fueled boom burst Dubai's real estate bubble while the global financial crisis left the emirate unable to refinance looming debt obligations. To help Dubai support its state-linked firms, the national central bank, which is based in Abu Dhabi, had bought $10 billion in Dubai bonds in February, 2009. But Dubai, which has little oil of its own and had embarked on a series of massive building projects to promote its trade and tourism, had much bigger problems. Chief among them was Dubai World, which was struggling to pay its debts. Dubai World's lenders had been quietly rolling over loans since early 2009 and the state-linked company hoped to renegotiate terms, extend maturities and keep paying interest as it worked out a restructuring. But that plan depended on knowing how much government support the company could obtain. Over the summer and through the Muslim holy month of Ramadan, the state committee set up to support Dubai's corporations was ominously quiet on the matter. On November 25, when Dubai's liabilities had reached $59 billion, or nearly a quarter of the United Arab Emirates' federal Gross Domestic Product, officials finally sounded the alarm. The definitive story of how the rescue came together may never be written, but Reuters has pieced together some of the key details of those days. At 6 pm, as many Emiratis and expats were winding down after work, the Dubai government summoned advisers and senior Dubai World executives to the offices of government lawyers Latham & Watkins. Government officials told the gathering that they had sought a stay of payment on Dubai World's debts. "No-one had anything to say," says one person who was present. Like most people involved in the rescue, they refused to be identified, either for fear of tarnishing their reputations or because they remain involved in the process and are not authorized to speak publicly. "The announcement was a disaster for Dubai. They were told 'don't worry, Argentina has done this, Venezuela has done it. People forget and they start lending again.' But what they didn't take into account was that those are real economies. This is not a country. "Dubai relied on global goodwill, if you will, and that was shattered." The first repayment to be affected a $3.5 billion Islamic bond from Dubai World's real estate company Nakheel was due on December 14. But those in the meeting knew the payment was one that Nakheel, a developer of islands shaped like stylized palm trees and a
map of the world, would never be able to make. A former adviser to Dubai World puts it succinctly: "Nakheel was a pyramid scheme, basically. They took money from selling one big project, one palm island, and used it to pay for another." The silence in that Dubai meeting became the standard setting over the next few days. Despite rumors in the global markets of a looming default, no official came forward to explain the situation until November 30. Financial markets looked to December 14 as a major test; bondholders, including aggressive hedge funds, smelled blood. There was another option: Abu Dhabi. Officials in Dubai began hammering out a proposal to put to the larger emirate on how to deal with the looming default. On the evening of December 13, the night before the payment was due, they agreed on what the final proposal should say. Crucially, it would not involve a full repayment of the bond. "Nakheel was a big massive shock," says a source familiar with the restructuring. "Dubai went to Abu Dhabi and said, we have this company called Nakheel that's so messed up it could take our whole economy down, and nobody knew about it. "Nakheel's books were so screwed up it wasn't even funny." On item at a time That evening, the weather in Dubai took an apocalyptic turn. Clutching the proposed deal and other documents, a banker from Moelis & Co, a U.S. investment bank that was advising Dubai, climbed into a waiting helicopter and took off for the capital. Expecting him in Abu Dhabi were officials of the highest level, including Sheikh Mansour, half-brother of the ruler of the UAE and one of the most influential people in the federation today. Rain and wind lashed the windowpanes of Dubai International Financial Center as the officials huddled, waiting. The banker had been instructed to call
and funded it themselves. So they specialized in leverage to build "real estate, real estate, real estate, but with a different flavor or headline," says Yasin. State-linked firms borrowed at an alarming rate, with little oversight or coordination. Corruption was rife. "Nobody at the time was going to the Dubai government and saying, 'this borrowing is happening based on the assumption that you are going to settle if we don't pay the money,'" Yasin says. "Who assumed that model? it was the lender." So ultimately Dubai's debts were accrued on the assumption that in the event of distress, the government -- or big brother Abu Dhabi -- would pick up the tab. When Dubai's government distanced itself from the problem, it gave the larger emirate responsibility -- and power. No Illusions In return for saving its 'kid brother' from the embarrassment of default, Abu Dhabi's authority quickly became apparent. In what was seen by some as a gesture of humility, in January Dubai's ruler named the world's tallest structure Burj Khalifa, in honor of Abu Dhabi's ruler and the UAE president, Sheikh Khalifa bin Zayed al-Nahayan. Seasoned UAE observers say the more outlandish rumors that circulated in the months after the Dubai World debacle -that Abu Dhabi would swoop in and seize Dubai land and assets or that the ruling families were embroiled in interpersonal rivalries -- were always nonsense. "The ruling families have no illusions whatsoever about what the role of each one is, who is the big guy and who is the second in line and so on," Yasin says. "In my opinion, it was the middle management, the second tier, the business people, those who are not related to the ruling families but who work for them, who generated these ideas." Sometimes Abu Dhabi doesn't have to throw its weight around because Dubai has realized what it needs to do without
“The Dubai growth model that was talked about so much and propagated in the media has changed now� his team as soon as he left the Abu Dhabi meeting. Three hours on, there was still no word from him. "We were so nervous, none of us had eaten all day," says the source familiar with the restructuring. The phone call never came. Instead, they heard the returning helicopter. Landed, the banker was whisked off into a meeting room to confer with the two top officials of Dubai's Supreme Fiscal committee. Finally, the rest of the team called in. To everyone's astonishment, Abu Dhabi was offering to pay off the bond in its entirety. "Abu Dhabi said, let's just pay this thing off until you come up with a better plan," the source familiar with the restructuring says. "They always said we are happy to help, we just want to see a plan." A nod and a wink With hindsight, perhaps the officials need not have been surprised. Rightly or wrongly, lenders had always assumed Dubai World's government links would ensure repayment. Dubai later stated that its government had never backed the debts of state-linked firms such as Dubai World, and blamed investors for not reading the small print. But lenders put the blame firmly on the government. In the UAE, ruling families keep their private lives out of the public domain aside from major weddings and funerals, and questions about who's really pulling the strings make intriguing gossip. But from a creditors' viewpoint they are crucial, because the buck stops with the highest guarantor. It is common practice in the Middle East for borrowing to consist of loans signed with a nod and a wink on a 'name lending' basis. In Dubai "in a sense the red line, the differentiator between the trader and the government institutions, became very murky," says Mohamed Yasin, chief investment officer at CAPM Investment in Abu Dhabi. It's still uncertain how much Dubai's ruler, Sheikh Mohammed bin Rashid Al Maktoum, knew about the growing debt crisis. Some of those involved say he was only informed of the magnitude of the debt problem very late in the game. In his rare comments on the crisis, Sheikh Mohammed has maintained a stiff upper lip, saying the problem has been overcome. "No-one knew the magnitude of what was owed, then the complexity of it," the former adviser to Dubai World says. "A lack of experience and ego made it hard to admit defeat." The emirate's transformation into a boom town had relied on a generation of Emirati executives armed with big ideas and Western business degrees. Dubai's model involved 'soft support' free land, a high-profile appearance at the opening for people who came up with a project
being told. The document for Dubai World's debt restructuring, seen by Reuters and agreed to by most of its creditors this month, outlines the city's plans to sell assets over eight years to generate as much as $19.4 billion and lists "investment assets" such as stakes in luxury retailer Barney's, Dubai-based Atlantis Hotel, and casino operator MGM Resorts International among those that could be included. Ports operator DP World is among the "strategic assets" which may generate up to $11.8 billion if put on sale. Dubai's government has tightened the leash on borrowing for state-linked companies. Previously, they were able to borrow unchecked, now they need to jump through a whole series of hoops before being given the green light for a loan. Almost two-thirds of Dubai World's debt is held by six banks, four of them British: HSBC, Lloyds, Royal Bank of Scotland, Standard Chartered, and local lenders Emirates NBD and Abu Dhabi Commercial Bank. Iran Factor Has Dubai's payback gone beyond finances? Some observers believe so. A U.S. ally, the United Arab Emirates has taken a tougher posture toward Tehran over the past year, under increasing scrutiny from Washington but also out of concern of the risks of a nuclear Iran on its doorstep. Dubai, which has a substantial population of Iranian expatriates and last year generated $5.8 billion in re-exports to Iran, has followed that lead. Since a new round of United Nations sanctions against Tehran was agreed in June, the UAE central bank has asked financial institutions in the federation to freeze accounts belonging to dozens of Iran-linked firms, and a number have been closed down. Ships visiting the UAE's ports are undergoing much more stringent cargo checks. "I think (the crisis) has been good on a federal level, for example in terms of foreign affairs," says the Gulf Research Centre's Koch. "The emirates are working much more closely together. There is certainly a clear commitment in terms of implementing and meeting the requirements of the U.N. sanctions against Iran, and this effort is more centrally controlled." Christopher Davidson, a historian at Britain's Durham University, goes further. "After November we saw a huge shift in what Abu Dhabi feels it can do on the international stage with regard to Iran and how close it can position itself with the United States," says Davidson, who believes that would not have been possible before the debt crisis, because Abu Dhabi would then have had far less leverage over Dubai. "We've seen some incredibly hawkish comments which do everything to
undermine Dubai's business links with Iran, so Abu Dhabi is in full control of the UAE foreign policy." Not everyone shares that view. Some, including David Butter at the Economist Intelligence Unit, think the change simply coincided with a toughening of the international community's stance toward Iran. Still, Dubai's ongoing debt problems mean the emirate has little power to deviate from Abu Dhabi's line. There is also no doubt that the Gulf Arab region as a whole is seriously concerned about the possibility of a nuclear-armed Iran. A rising number of countries have announced big new purchases of weapons in the past year, including Saudi Arabia which plans a $60 billion arms deal with the United States. Analysts say the six Gulf Arab states could spend as much as $100 billion in coming years to overhaul their armed forces. Writing on the Sand Back in Dubai, there are signs confidence is beginning to return. Developer Nakheel, whose near-default propelled Dubai's banker on the November chopper ride to Abu Dhabi, has said it will begin building again next month. After a year away, Dubai's government has returned to bond markets, launching a dual-tranche $1.25 billion bond. Early talk indicates the issue is heavily oversubscribed. "The hard work has been sorting out Nakheel and Dubai World, and investors are more positive on Dubai because of its strong relationship to the rest of the UAE and as the legacy issues have been or are being addressed," says Aviva fund manager Jeremy Brewin in London. Dubai World's debt repayment agreement on September 10 "draws a line in the sand to a significant part of the debt restructuring story," says V Shankar, chief executive of Standard Chartered's Middle East, Africa, Europe and the Americas operations. "There are issues still to be sorted out with Dubai Holding but I think on the back of this, Dubai has a powerful tail wind." Dubai seems focused on its core operations of logistics and trade. It recently opened the first phase of Maktoum international airport -- part of Dubai World Central's so-called "aerotropolis" complex, a shipping, air and road hub. "Whilst no government can rule out future issues, we believe the most significant restructuring is behind us," a government representative responded to emailed questions. Advisers to Dubai say Abu Dhabi is no longer as closely involved in its neighbor's financial affairs as immediately after the debt crisis. At the peak of the Dubai World turmoil, Dubai representatives were meeting with their Abu Dhabi counterparts on a weekly basis. These meetings have been scaled back to become, as one adviser put it, "courtesy" updates. The government has embarked on a big push to create corporate governance structures, and most of its high-profile young executives are gone, sidelined in a putsch last November. Some, such as the head of Dubai's flagship Dubai International Financial Center, fallen prey to corruption probes. Into their place have come more trusted, established and older names pushed aside during the boom years but now back in favor. "The only criterion available is 'personal hygiene,' people who are clean," says a long-time Dubai observer, declining to be identified so he can speak freely about a sensitive topic. He argues that some of the old guard's lack of experience in modern finance may make them poorly equipped for the task of rebuilding Dubai's companies. Strategic, "bold, hairy, audacious" initiatives are needed, he says. "Right now, it's the blame game." Growth Prospects There is no doubt Dubai needs to encourage entrepreneurship, and continue to give ambitious Emiratis who do not come from wealthy families the chance to make their own fortunes. Its past model is now cited as one of the causes for the endless real estate projects that led to its debt crisis, but parts of it may have to be reinstated if Dubai is to grow. How easily could Dubai slip back into its bad old ways? "They believe that now the problem is solved," says the former Dubai World adviser, who is critical of creeping complacency just a year after the crisis. "The problem is not solved as they still owe the same amount of money. They will have to pay the same amount, only a little later." Even with its wings clipped, the emirate is still making big plays. In July, Emirates airline, one of Dubai's crown jewels and already the biggest customer for Airbus A380 super jumbos, placed an order for 30 Boeing 777 jets in a deal worth potentially more than $9 billion. "Everything is now very conservative, it's meant to be based on in-depth analysis of actual sectors," says the source familiar with the restructuring. "Given the chance, Dubai will take it to the same level as before. They will always try to go as far they can with something."-Reuters
5
Sunday, October 03, 2010
Can lasers help you stop smoking? C
ould one hour be all you need to quit smoking, without cravings or side effects? That's what Innovative Laser Therapy, a New Haven, Connecticut-based company, advertises on its website. The clinic uses low-level lasers - similar to those sometimes used to treat arthritis-related pain - to target specific acupuncture points on the body related to addiction, metabolism and stress, and claims that most patients can quit smoking after one session. In that session, the laser is pointed at spots on the face, hands and wrist, with the aim of relieving withdrawal symptoms and preventing cravings. "When you smoke a cigarette, you artificially tell your brain to release endorphins," Frank Pinto, the owner of Innovative Laser Therapy, told Reuters Health. Therefore, quitting leads to a quick drop in endorphin levels, he said. "The laser basically stimulates
the nerve endings to tell the brain to release a flood of endorphins" to boost a patient over that initial 3-5 day hump of withdrawal symptoms, he said. The treatment also targets other points that are thought to suppress appetite -- to prevent the weight gain that often comes with quitting smoking - and promote relaxation, according to Innovative Laser Therapy. But does it work? 'NOT ENOUGH EVIDENCE' IN SCIENTIFIC TERMS There's limited research showing that laser therapy might help some smokers quit. Innovative Laser Therapy cites one study, a 2008 paper published in the Journal of Chinese Medicine, available on their site . A UK-based team found that smokers that had four laser treatments over two weeks were more likely to quit than smokers that had three treatments. Those in the three treatment group, in turn, had better success rates than a control group that was given fake laser
treatments. After 6 months, 55 per cent of
Coffee, tea to lower brain tumor risk C
offee and tea lovers may have a decreased likelihood of developing the most common form of malignant brain tumor in adults, a new study suggests. The findings, from a study of more than 500,000 European adults, add to evidence from a recent US study linking higher coffee and tea intake to a lower risk of gliomas, a group of brain tumors that makes up about 80 per cent of malignant brain cancers in adults. It does not, however, prove that the beverages themselves confer the protection. "This is all very preliminary," said lead researcher Dominique Michaud, of Brown University in Providence, Rhode Island, and Imperial College London. "This study shouldn't be the reason that anyone changes their coffee or tea intake." And even if coffee and tea have some direct effect on glioma risk, the impact would be small. Brain tumors in general are uncommon; in Europe, for instance, annual rates are estimated at between four and six cases per 100,000 women, and six to eight cases for every 100,000 men. Overall, the odds that a person will develop a malignant (cancerous) brain tumor in his or her lifetime are less than 1 per cent. Still, Michaud said, if higher coffee and tea intake is somehow protective against glioma, that could give researchers insight into the causes of the tumors. "Right now, we don't know much about what causes brain cancer," she noted in an interview. The findings, published in the American Journal of Clinical Nutrition, come from an ongoing study in 10 European countries investigating potential risk factors for cancer. At the outset, 521,488 men and women between the ages of 25 and 70 completed detailed questionnaires on their medical history, diet, exercise habits, smoking and other lifestyle factors. For their analysis, Michaud's team focused on more than 410,000 participants who were cancerfree at the outset and had complete dietary information. Over an average of 8.5 years of follow-up, 343 of these men and women were diagnosed with glioma; another 245 were diagnosed with another, usually benign type of brain tumor called meningioma. When the researchers divided the study participants into four to five groups based on their coffee and tea intake at the outset, they found no evidence of a "dose-response" relationship -- that is, a decreasing glioma risk as coffee and tea consumption climbed. The findings were different, however, when the researchers looked at two groups: those who averaged at least 3.5 ounces of coffee or tea per day, and those who drank less or none at all. The heavier coffee/tea consumers were one-third less likely to be diagnosed with glioma, with factors such as age and smoking history taken into account. There was no connection seen with meningioma risk. According to Michaud, it's not clear why there was no evidence of a dose-response association between coffee and tea intake and the risk of glioma -- which is generally considered a stronger sign of a possible cause-and-effect relationship. But it may be related to difficulties in precisely measuring study participants' coffee and tea intake, which was dependent on self-reports. It is biologically plausible that coffee and/or tea could affect glioma risk, Michaud said. A recent lab study, for example, found that caffeine appeared to slow the growth of a type of glioma called glioblastoma. In addition, both coffee and tea contain antioxidants, which help protect body cells from damage that can lead to cancer and other diseases.-Reuters
the four-treatment group was smoke-free, compared to 19 per
cent of the three-treatment group and 6 per cent of those who were treated with fake lasers. The authors weren't able to follow most of the 340 participants for more than 6 months after treatment, so they don't know if those who stopped smoking started up again, or if they really quit for good. And the journal's site which offers lasers and other treatments for sale - does not say whether it is peer-reviewed. In contrast, a 2000 Singapore study of 330 adolescents found no difference in 3-month quitting rates for participants treated with real or fake laser therapy. "In scientific terms, this one (UK) study is not enough evidence to recommend (the) laser for smoking cessation," Dr. Adrian White told Reuters Health by email. Dr. White is a research fellow at Peninsula Medical School in the UK who coauthored a review of laser therapy and similar smoking cessation methods for the Cochrane Collaboration, an international
organization that evaluates medical research. "The results conflict with the other study, and they seem 'too good to be true.'" According to the US Centers for Disease Control and Prevention, about 1 in 5 Americans is a current cigarette smoker, and the majority of them smoke every day. The American Heart Association reports that more than 80 per cent of smokers say they want to quit. But many smokers try more than one smoking cessation method or take years of trying before they do quit for good. Pinto launched Innovative Laser Therapy after he successfully quit smoking with a round of laser therapy from a clinic in Florida. His company charges $350 for a one-time treatment that takes less than an hour, and offers free extra treatments to patients who are still struggling with quitting in the following 6 months. Other companies do a few shorter therapy sessions as part of their regular treatment plan.-Reuters
Antidepressant use tied to increased diabetes risk P
eople who use antidepressants for the long term may be more likely to develop type 2 diabetes than non-users - including other individuals with severe depression, two new studies suggest. The findings, reported in the journal Diabetes Care, add to evidence linking antidepressant use to a modest elevation in type 2 diabetes risk. They do not, however, prove that the medications are the cause, researchers say. It's possible that antidepressant users have other characteristics that raise their odds of developing diabetes, according to Dr. Mika Kivimaki of the University College London in the UK, the lead researcher on one of the studies. In addition, he told Reuters Health in an email, antidepressant users may see doctors more often than non-users do - which, in turn, could increase their likelihood of being diagnosed with diabetes or other medical conditions. "I would interpret these findings cautiously and not draw firm conclusions yet," Kivimaki said. For their study, he and his colleagues used data on more than 150,000 Finnish adults followed for an average of five
years. During that time, 851 were newly diagnosed with type 2 diabetes. At the outset, there were 9,197 individuals who were considered longer term users of antidepressants - having been on the medications for more
daily doses of an antidepressant, and 2.3 per cent among those who had taken 400 or more daily doses. One question about the association between antidepressants and diabetes has been whether the medications are just serving
than six months. Overall, the researchers found, these men and women were more likely to develop diabetes during the study period, with the odds climbing in tandem with the length of use. Among study participants who had not used the medications, 1.1 per cent were diagnosed with diabetes over five years. That compared with 1.7 per cent among individuals who had taken between 200 and 400
as a marker for more-severe depression: severe depression, or the generally poorer health and lifestyle that may come with it, could help explain the connection to diabetes risk. But when Kivimaki's team looked only at participants considered to have severe depression, antidepressant users were two to three times more likely than non-users to be diagnosed with diabetes. That was with rates of chronic physical health
conditions, like high blood pressure, heart disease and cancer, taken into account. Of 159 people who had severe depression and had taken at least 200 doses of an antidepressant, 58 developed diabetes. That compared with 12 of 69 men and women who had severe depression but had taken fewer doses, or no medication at all. In the second study, researchers led by Dr. Richard R Rubin of Johns Hopkins University in Baltimore looked at data on more than 3,200 US adults who were enrolled in a clinical trial on type 2 diabetes prevention. All of the study participants were at high risk of diabetes because they were overweight and had elevated blood sugar. They were randomly assigned to either lifestyle changes, the blood-sugar-lowering medication metformin, or a placebo. At the study's start, almost 6 per cent were using an antidepressant regularly. Rubin's team found that in the lifestyle and placebo groups, study participants who were consistently on antidepressants during the study period were about twice as likely as nonusers to develop diabetes over 10 years.-Reuters
Blood test for colon-cancer promising: study A simple blood test correctly identified most colorectal cancers in an early trial of the technology, offering the possibility of a convenient screening test that could be done during routine checkups, the company which developed it said on Wednesday. The test, being developed by Danish biotech company Exiqon, worked well at both identifying colon cancers and at ruling them out, the company said at an American Association for Cancer Research meeting in Denver. "Our test has the potential to be safe, cheap, robust, accurate and of little or no inconvenience to the individual," Soren Nielsen, the company's scientific manager of diagnostic product develop-
ment, said in a statement. Nielsen said the company is not looking to replace colonoscopy, the current gold standard test for colon cancer. Instead, they hope it will be used as an initial screening tool to identify people who need further testing. Belgian biotech firm OncoMethylome also has a colon cancer blood test, as does Exact Sciences Corp. Colon cancer is the second biggest cancer killer in most countries behind lung cancer. In standard colonoscopies, a tiny camera is threaded up through the rectum. The device has a little pair of clippers on the end to remove suspicious-look-
ing growths called polyps so they can be tested to see if they might become cancerous. US health experts recommend regular colonoscopies for people starting at age 50 and the practice is credited with helping to lower the number of deaths from colon cancer from around 52,000 in 2007 to just under 50,000 people in 2009 in the United States. PATIENTS SHUN INVASIVE TEST But only about half of those who should get tested do, in part because the procedure is embarrassing, uncomfortable and can, in rare cases, cause injury. "The problem with colonoscopy and other invasive tests is that people tend not to use
them unless they have symptoms," Nielsen said in a telephone interview. He said there are other screening tests available now that are less invasive than colonoscopy, including tests that require people to collect a tiny sample of their stool and send it to a lab. But he said people often will not even do that. "What we're aiming for is something that can tell you whether you are likely to have colorectal cancer from a blood sample," Nielsen said. The company's test screens for micro RNAs, tiny bits of genetic material from tumors in the blood.-Reuters
US researchers make stem cells quickly from skin R
esearchers have found a surprisingly quick and apparently safe way to transform ordinary skin cells into both stem cells -- the body's master cells -- and muscle cells. They said on Thursday their method may provide a way to generate tissue in a new science called regenerative medicine, which doctors hope will eventually lead to ways to repair injuries and eventually perhaps even replace whole organs. Reporting in the journal Cell Stem Cell, Dr. Derrick Rossi of Harvard Medical School and colleagues said they were working on new ways to make induced pluripotent stem cells or iPS cells. These cells closely resemble embry-
onic stem cells -- the body's true master cells, which can give rise to all of the body's cells and tissue and which also flourish in the lab. It takes just 3 or 4 genes to turn back the clock on skin cells or other ordinary cells, and make them behave like stem cells. But most ways of doing this involve using a virus to carry the new genes into the cell, or DNA, and these techniques can lead to other problems, including tumors. Rossi and colleagues in stem cell leader George Daley's lab tried a new method, using RNA instead. RNA is the compound that carries out DNA's instructions. To their surprise, RNA from the four "stem cell" genes worked to transform ordinary skin cells into iPS cells.
These cells could, like stem cells, be made to form beating heart cells, nerve cells and other cell types. They were also able to directly
transform skin cells into muscle cells, they reported. CELL-BASED THERAPIES "We believe that our approach has
the potential to become a major and perhaps even central enabling technology for cell-based therapies and regenerative medicine," they wrote. "The methodology described here offers several key advantages over established reprogramming techniques." They said, for example, it should make it easier for less specialized and experienced scientists to make and work with the cells. Daley and other researchers also work with human embryonic stem cells and said using iPS cells was not an alternative to the controversial embryonic cells. They said all types of stem cell research were equally important as scientists learn how to use them.
The future of human embryonic stem cell research is being debated in US courts and in Congress. Opponents of the research say it is wrong to destroy a human embryo for any reason, even if the embryos are leftovers from fertility clinics that are destined for destruction. Opponents of the research have sued the US government and the case is being considered by federal courts. A US appeals court ruled on Tuesday that federal funding for human embryonic stem cell research may continue pending a full appeal. Members of Congress who support embryonic stem cell research say they are working on legislation to make it clear what the government may pay for.-Reuters
6
Sunday, October 3, 2010
Mobile Prices Updated on 2 October, 2010
SYED ABUL ABBAS NAQVI
Nokia 1202 1203 1208 1209 1280 1616 1661 1650 1680 Classic 1800 2220 Slide 2330 Classic 2600 Classic 2690 2700 Classic 2730 Classic 3600 slide 3610 Fold 5030 5130 5220 5230 5233 5310 5320 5530 5630 5730 5800 6120 6220 Classic 6300 6303 6303i 6600 Slide 6600 Fold 6700 Classic 6720 Classic 6730 Classic 6760 Slide 7210 7230 7310 7510 7610 C1-00 C5 E5 E52 E55 E63 E66 E71 E72 E75 N78 N79 N82 N85 8GB N86 N95 8GB N96 N97 N97 mini N900 X2 X3 X6 16GB X6
2,100 2,050 2,200 2,250 2,075 2,350 2,625 3,250 3,650 2,750 4,300 4,450 4,950 5,300 6,700 7,900 12,900 9,600 3,025 7,800 10,400 13,400 12,200 12,400 14,900 17,300 17,200 23,000 21,700 11,700 17,900 10,800 11,300 10,700 18,900 19,000 19,800 20,200 15,200 18,800 8,550 10,750 11,000 14,000 13,200 3,200 14,200 21,300 21,200 23,000 16,800 20,000 21,300 27,500 24,000 19,800 26,300 26,000 22,800 31,500 36,000 36,500 39,000 33,000 39,500 9,800 11,900 31,500 57,000
Sony Ericsson T303 T707 W302 W380i W350i W395 W595 W705 W980 W902 W995 F305 S302 C510 C901 C902i C903 C905 G502 G700 XPERIA X1 Aino Jalou U100 Yari Satio Idou
8,700 16,800 9,600 8,800 7,700 9,700 13,200 19,000 18,200 43,500 25,600 9,400 8,200 12,700 14,800 15,600 16,100 21,400 14,500 12,800 33,000 30,800 17,300 18,700 38,700
Samsung B130 B200 B220 Guru B300 B3210 CorbyTXT B3410 B3410W Chat WIFI B5722 B7300 OMNIALite B7320 Omnia PRO Guru B100 E1080 E1100 E1125 E250 D980 (Dual Sim) J150 J700 M150 M200 M620 M3510 Beat b M3710 Corby Beat M7500 Armani M7603 Beat DJ M8910 Pixon 12 C3010S C3053 C3212 C3303k Champ C3510 Genoa C5212 DUOS S3310 S3653 Corby S3653 WIFI Star S5230 S5230W Star WIFI S5350 Shark S5550 Shark 2 S5560 Marvel S5620 Monte S7220 Ultra b S7350 Ultra s S8003 Jet S8300 Tocco Ultar Edition
2,050 2,600 3,900 3,600 9,700 12,000 13,400 15,400 24,000 19,200 2,450 2,200 2,450 3,200 5,200 20,300 6,550 7,550 5,100 6,200 6,250 9,200 12,700 30,300 32,000 40,600 5,700 6,000 8,000 7,600 8,800 9,800 7,900 10,600 13,400 11,000 12,300 12,000 14,500 15,600 15,500 21,000 22,100 24,000 28,200
LG KP110 KP199 KP220 KP320 KP175 KG288
3,700 6,600 6,500 8,500 5,950 2,450
NOTE: Always visit your local shop for the exact Mobile Phone prices.
Samsung Bada Logs 10 Millionth App Download
S
core one for the Bada. On its oneyear anniversary, Samsung Electronics announced that the number of Samsung Apps downloads for the operating system passed the 10 million mark in Europe. The milestone is significant, as the availability of apps is becoming an increasingly important factor weighed by users in their mobile phone buying decisions. Samsung Apps was launched in September 2009 in European and Asian countries, including the United Kingdom, Italy, France, and Germany, and is now available in 34 countries in Europe and 109 markets worldwide. The decision by the Seoul, Korea-based electronics giant to release its own proprietary smartphone platform last year was seen as a questionable move in an already crowded smartphone market. Bada means "ocean" in Korean. The top three downloads for Samsung phones are the car racing game Need for Speed Shift; Magic Torch, which transforms a phone into a flashlight; and My Mirror, which lets users view their reflections in a mirror. The phone maker received other good news this week when its first Bada-powered smartphone, the Wave, topped one million in sales in Europe.
The device was launched last February and features a 3.3inch Super AMOLED touchscreen, a 1GHz processor, a 5megapixel camera with LED flash, and Wi-Fi and Bluetooth support. Samsung said more Badaoperated devices are planned to further the popularity of Samsung Apps, which offers game, news, social networking, navigation, music, health, and other mobile apps. A user's specific phone model will automatically display the application catalog for that device, the phone maker said. The Bada platform can also be found on some Samsung TV sets.
Facebook Plans Deeper Phone Integration
F
acebook is reportedly working with mobile handset maker INQ Mobile to deliver a customized Android phone that's scheduled to debut in Europe in the first half of 2011 and then in the US Facebook confirmed only that has a longstanding relationship with INQ and that the company believes social networking generally enhances users' interactions with devices. "While we can't speak for their future product development plans, we can say that our view is that almost all experiences would be better if they were social," said a Facebook spokesperson in an e-mailed statement. "Mobile integrations that we are currently working on include everything from an HTML5 version of the site to apps on major platforms to full Connect support with SDKs to deeper integrations with some manufacturers, like INQ." Facebook's mobile presence has been growing rapidly. In November 2008, the company said it had 15 million Facebook users accessing its Web site through mobile devices. Today, that number has risen to 150 million. The company says that over 200 mobile operators in 60 coun-
Mozilla Says No Firefox For iPhone
W
hile providing an update about its Firefox Home product, Firefox reiterated that it is not developing its Firefox browser for the iPhone. Mozilla said, "We are working to bring as much of your Firefox experience as possible to Firefox Home. People have asked about adding more browser-like features to Firefox Home, but there are technical and logistical restrictions that make it difficult, if not impossible, to build the full Firefox browser for the iPhone. We are focused on building Firefox Home as a rich, cloudbased application and making it a valuable product that people will continue to love and use." Earlier this month, Mozilla updated Firefox Home for the iPhone. The new version of Mozilla's browsing-syncing application offers a handful of new features, including immediate access on the iPhone to tabs that were open on the desktop, Awesome bar support for faster searching, faster access to bookmarks, one-way refresh of Firefox desktop history, and support for Firefox Sync servers. The application is meant to make it easier for iPhone users to take their Firefox browsing sessions and all the relevant data with them when using their iPhone. The application also supports 16 additional languages. It is free to download.
he Motorola ES400S will be the first enterprise mobile handheld device to be carrier-branded and sold through Sprint, the carrier said Wednesday. The device is geared mainly at employees who need a rugged device and mobile access to business-critical applications and back-end systems in industries including field service, field sales, health care, retail, utilities, manufacturing and transportation/distribution, Sprint said. "With its compact size and access to advanced applications leveraging the Sprint 3G network, Motorola ES400S is a breakthrough enterpriseclass device that can meet the needs of business users who are constantly seeking ways to boost individual and team productivity," said Danny Bowman, president, Integrated Solutions Group, Sprint, in a statement. The ES400S runs on Windows Embedded Handheld technologies such as the Windows Mobile 6.5.3 platform, and
has application compatibility and support for industry-specific apps, along with advanced security and device management mobility features, Sprint said. Other features include a 3-inch VGA touch screen, a customizable Motorola Enterprise User Interface (MEUI), which provides one-touch access to
applications, a businessfocused home screen, an enterprise camera application, a call management screen with a touch-friendly dial pad and accessible device management tabs. The device also has a builtin biometric fingerprint reader, a 3.2 megapixel camera with red line aimer for barcode scanning and onebutton push-to-scan for one- and two-dimensional barcode reading, Wi-Fi 802.11 a/b/g with enterprise security, 1 gigabyte ROM/256 MB RAM, and CDMA EVDO Rev. A for domestic service and HSPA/GSM for global roaming. The device is VoIP-ready and comes with GPS and a standard 1540 mAh battery. The Motorola ES400S will be available at the end of October and retails starting at $499.99 along with a Sprint Business Advantage Messaging and data plan or Everything plan with data.
Pioneer Unveils 3D Blu-ray Players H
tries are working to deploy and promote Facebook mobile services. What remains to be seen is the extent to which deeper Facebook integration on Android phones steps on Google's toes. Based on Facebook CEO Mark Zuckerberg's comments in a TechCrunch interview, Facebook is still trying to figure out at which level of the computing stack it should operate on mobile devices. Zuckerberg says that Facebook isn't pursuing its own mobile OS, the bottom of the stack. But the company is likely to experiment with integration at various higher levels: libraries that provide social features to all apps on the device; application frameworks; mobile SDK support for Facebook APIs; and simple, stand-alone apps. One area where Facebook might seek to gain advantage would be through the integration of Facebook Connect, the company's single sign-on API. The idea would be that one's Facebook identity would be deeply linked to the device such that one's actions with the device would bring more data to Facebook to enhance its advertising business.
Motorola ES400S Enterprise Handset Coming To Sprint T
ome entertainment company Pioneer Electronics Thursday unveiled a line of Blu-ray 3Denabled players with expanded online connectivity Thursday at the 2010 Custom Electronic Design and Installation Association (CEDIA) Expo. The line includes one Pioneer-branded device and two models under its Elite label, which will have streaming content from partners including Netflix, YouTube, and Pandora. Besides the new Blu-ray 3D players, Pioneer is also debuting at the show iPhone-certified A/V receivers, iPhone/iPod docks, headphones, Hi-Fi two-channel
audio components, and highend speakers in is TAD and EX lines. "We understand how important it is for consumers to be able to seamlessly connect their personal technology devices to their home theater,'' said Russ Johnston, executive VP of home entertainment and business solutions group at Pioneer Electronics USA, in a statement. "While we are certainly not the least expensive, we are always pursuing our goal to be the best. Consumers should not have to sacrifice convenience for a quality audio experience." The electronics company
makes audio and home theater products including A/V receivers, Blu-ray and DVD players, and speakers. Pioneer did not release pricing or availability for the new players. While it also has a TV line, Pioneer has not yet launched any
technology to provide full high-definition, 3D content. Sony's model, the VPL-VW90ES, comes with 3D shutter glasses and will be available in November for around $10,000.
3D televisions, although any 3D Blu-ray player can be connected to a 3D TV. Also at CEDIA Expo, Sony and Mitsubishi both displayed new 3D-capable home theater projectors using Sony's X-tal Reflective Display (SXRD)
Mitsubishi did not release pricing or availability for its Diamond 3D 1080p projector. The CEDIA trade show, which showcases electronic systems for the residential market, is being held in Atlanta through Sept. 26.
Apple iPhone Ranks First In Customer Satisfaction
J
D Power and Associates has ranked the Apple iPhone as the number one smartphone in customer satisfaction. On a 1,000-point scale, the iPhone scored 810, getting kudos from users for ease of operation, operating system, features and physical design, JD Power found in a recent study. Coming in second was Research in Motion's BlackBerry with a 741. In more mainstream handsets, which typically don't have touch screens or the rich feature set of smartphones, LG Electronics ranked highest in
overall customer satisfaction with a score of 729. The company's handsets performed particularly well in physical design, features and operation, the
study found. Following LG in rankings were Sanyo, 712, and Samsung, 703. J.D. Power also found that customer satisfaction with smartphones that have touch screens were 40 index points higher than with smartphones that used other input methods, such as a text keyboard. Smartphones with touch screens scored 771. While touch screens on more
mainstream handsets are not as readily available, those that had the feature scored 53 points higher than those devices without a touch screen. Touchscreen handsets in this category scored 756. The study also found that smartphone users were nearly twice as likely to share multimedia messages, such as video, with other people than users of more traditional handsets. Nearly a fifth of smartphone users frequently downloaded and watched video on the device.
Latest Gadgets LiveView Mini Display Sony Ericsson has announced the Sony LiveView. The LiveView has been designed for smartphones running the Android 2.x operating system. The device its self has a 1.3 inch screen and connects to a smartphone via bluetooth and allows users to remote control their phone from a device that can be worn on your wrist.
Flash Drives for Key chains Super Talent has created the CKB USB flash drive that has been designed to attach to your keychain. Storage capacities for the CKB starts at 2GB and goes all the way up to 32GB. Dimensions of the flash drive reveal it Panasonic has announced the measures 40mm x 25.9mm x 3.7mm Toughbook S9. The S9 is a rugged making it quite compact. laptop that has a 12.1 inch screen. The keyboard has an optical drive underneath it that is accessed by lifting up the wrist wrest area. The Toughbook S9 can drop from as much as 30 inches and will withstand about 220lbs of pressure on its top. Six ounces of liquid can also be dropped on it. The laptop its self weighs just three pounds.
Panasonic Toughbook S9
Shift Gaming Keyboard The SteelSeries Shift is a keyboard designed for gamers. The keyboard has the ability to switch the key sets so that the combinations suit different games such as FPS, MMO and other types of games. As well as having interchangeable keys, the SteelSeries Shift keyboard also has programmable keys as well as a microphone.
Windoro the Window Cleaner Windoro's a pretty clever machine, it actually consists of two robots synced together by neodymium magnets. Quite cleverly Windoro uses water, detergent, and rotating pads to clean the glass while navigating with obstacle sensors.
7
Sunday, October 3, 2010
Drugs linked to spike in crime WASHINGTON: Law enforcement officials are fighting a new war on drugs - the war on prescription drug addiction. They say that opiate painkillers and other prescription drugs are to blame for crime rate increases all around the nation. "Home invasions, robberies, assaults, homicides and thefts all kinds of crimes are being linked to prescription drugs," Maine attorney general, Janet T Mills, told the New York Times. Addicts are resorting to desperate criminal behavior in order to get their hands on these drugs. Their primary targets are the sick, the elderly and anyone else who has these pills sitting in their medicine cabinets. In an effort to combat the problem, the DEA coordinated a National Take-Back Day, which was held on Saturday, September 25th. Americans were encouraged to bring their old prescription medications to locations throughout the country for safe disposal. While the Take-Back Day may have helped to raise GENEVA: Nestle's products are displayed at a press conference at the Swiss Federal Institute of Technology (EPFL). Nestle announced it was setting up new health-oriented subsidiaries to exploit growing business opportunities for foods that help with ageing and conditions such as heart disease.-Reuters
Glaxo’s vaccine fails in trial: NIH W A S H I N G T O N : GlaxoSmithKline said on Thursday that it was stopping development of a genital herpes vaccine after it failed to protect women against the virus. The US National Institutes of Health (NIH) said the test of 8,000 women in the United States and Canada showed the Simplirix vaccine failed to protect them significantly from genital herpes. "The estimate of vaccine effectiveness was 20 per cent, but all estimates have statistical uncertainty, and this effect was not substantially different from zero," the National Institute of Allergy and Infectious Diseases, an NIH institute, said in a statement. The Phase III trial, the last step before regulatory approval of a drug or vaccine, was spon-
No #1
sored by Glaxo at 50 sites in the United States and Canada. "GlaxoSmithKline has made the decision not to pursue further worldwide development of Simplirix," the company said in a statement. The women, aged 18 to 30, all started out free of infection by either the herpes simplex 1 virus that causes cold sores or the related HSV-2, which causes genital herpes. The researchers sponsored by the NIAID followed the women for nearly two years to see if they became infected with either virus in their day-to-day lives. It had been a difficult trial to put together because both viruses are very common. Between 50 per cent and 80 per cent of Americans are infected with HSV-1, which
Continued from page 8
including bar rooms and library and brutally beaten the lawyers resulting in injuries to many, including females. The use of excessive force and resorting to high headedness and brutality clearly violate the constitutionally guaranteed fundamental rights i.e. right to life, liberty and dignity, says a press release issued by the Supreme Court of Pakistan. Supreme Court has issued the notices to the Home Secretary, Punjab, Commissioner and DCO Lahore, PPO, Punjab, CPO, Lahore, DIG, Operations and concerned Superintendents of Police, through PPO, to appear in person and explain about the untoward incident in which excessive force was used resulting in injuries to lawyers including female lawyers. -Agencies
No #2
Continued from page 8
usually causes cold sores. Up to 20 per cent of those over 12 are infected with HSV-2, and more than 1 million new cases of genital herpes are diagnosed in the United States each year. Genital herpes is sexually transmitted and can not only cause painful and debilitating outbreaks of blisters, but it can also kill newborns if passed on by the mother in childbirth. The 8,000 volunteers had been divided into two groups. Half got the vaccine against herpes, which included an immune system booster called an adjuvant. The other half got Glaxo's hepatitis A vaccine instead. Earlier studies had shown the herpes vaccine protected 70 per cent of women whose sex partners were infected with the virus.-Reuters
No #5
USAID’s Zinc Supplement mobile centres start working ISLAMABAD: Zinc supplements' mobile centres, initiated by USAID to counter the menace of such endangering epidemics like diarrhea have begun their tasks. Welcoming the initiation of these centers, the locals have demanded of USAID to continue these effective and useful projects. The POUZN Pharma partnership coordinator, Anjum Kazmi informed that this project had been initiated through ABBOT Associates, and informed that ZINC supplements were an effective antidote against spread of diarrhea. He informed that four pharmaceutical companies were cooperating with USAID project, which was initiated in a limited area, whence mobile vans were trying to protect 40 small localities by endeavoring to safeguard 12000 children up to age five for five years.Online
Continued from page 8
future strategy on this count will also be evolved. Gen Ashfaq Parvez Kayani will take corps commanders into confidence regarding Pakistan army stance on border violations and taking up this matter with US authorities. The outcome of CIA chief visit to Pakistan will also be discussed. Matters related to national security particularly war against terrorism in tribal areas and relief and rehabilitation activities of Pakistan army in flood hit areas will also feature in the meeting. -Online
No #6
Continued from page 1
"The situation is the same. The border is blocked for Nato supplies," an official at Torkham, the main border crossing in Pakistan's Khyber district, told media by telephone. A senior security official in the northwestern city of Peshawar also confirmed that convoys were suspended for third day but said negotiations to solve the problem continued. "Long queues of trucks and oil tankers are waiting along Torkham and in the adjacent areas for the reopening," the official at Torkham said. -Agencies
increase the capacity of this government, the performance of this government. It will be important for a civilian government to demonstrate its value to the Pakistani people," Crowley said. "The Pakistani people have made clear that they prefer civilian government to dictatorship. But as to who ultimately runs that civilian government, that's a matter for the Pakistani people," Crowley said. He said that the Obama administration was in talks with the peoContinued from page 1 ple across the Pakistani Government, including Army Chief No #7 General Pervez Kayani, ISI Chief General Pasha, President The demand was accepted by Nato secretary general and Zardari, Prime Minister Gilani, Foreign Minister Qureshi and oth- ISAF commander Gen David Petraeus. The probe team would ers. -Agencies to carry out an inquiry and hold talks regarding the attacks. Stern action will be taken against those involved in the cross Continued from page 8 No #3 Furthermore, Federal Minister for Interior, Senator A Rehman border attack. The team of Pakistani army official which arrived in Kabul Malik has directed DG, FIA and all the Zonal Directors to adopt zero tolerance policy on illegal human trafficking to save the on Saturday morning held meeting with the high officials of Nato in Kabul and discussion pertaining to border violations name and prestige of the country. He expressed these views while chairing a meeting to discuss were exchanged to identify the elements that were involved two important issues of national importance i.e. Human in attack and to ascertain the reason as despite warning from Trafficking and Hawala Business. The DG, FIA, Zonal Director security forces of Pakistan why Pakistani check post was and the concerned Deputy Directors were present in the meeting. attacked. On the other side a spokesman of ISAF Lt Gen John Dorean Taking strict notice of rising illegal business of human-trafficking the Minister has directed to the DG, FIA and all the Zonal said that since from Thursday noon, Torkham border has been Directors to adopt Zero tolerance policy to save the name and closed, however other passages were opened adding that the issue of closing border would be settled soon as supply conprestige of the country. -Agencies voy has been very necessary for Afghan war and the officials Continued from page 8 No #4 of ISAF and NATO were endeavoring to reopen the Torkham the CIA. Pakistani officials have reported that at least 21 US drone border. -Agencies attacks have killed around 120 people in September, the highest Continued from page 1 No #8 monthly tally of attacks. The overwhelming majority of the attacks US should equip Pakistan with drones instead of launching took place in North Waziristan, considered Pakistan's most notorious bastion of al Qaeda-linked and Taliban commanders opposed to the cross-border attacks, he urged. US-led war in Afghanistan. Most of the strikes have targeted the Continued from page 1 No #9 Haqqani network, one of the strongest US foes in Afghanistan at Muqam Mandi when some unknown gunmen opened fire whose leadership is based in North Waziristan. -Agencies at him killing him on the spot. His assistant also came under
awareness of the growing problem of prescription drug addiction, and may have put a small dent in the number of old prescription drugs sitting unused in homes, it did nothing to address the real problem the overprescribing of Big Pharma's highly addictive medications. If the average prescription drug consumer is routinely left with extra, unused medication after taking a drug according to their doctor's instructions, it seems to me that doctors are routinely prescribing too much medication. And in doing so they are lining Big Pharma's pockets and placing unnecessary financial burden on not only the consumer, but on our entire health system, and now it seems, our judicial system and law enforcement organizations. A more effective approach would be to examine the reason that people have so many dangerous medications lying around in their houses in the first place, and why so many people are addicted to them. If you ask me, that reason is
obvious - these drugs are being given out like candy. I think it's a good sign that the DEA has publicly acknowledged the threat posed to public safety by an overabundance of pharmaceutical drugs. I hope it is a sign that our government agencies are becoming concerned about the monster that Big Pharma has helped to create - a nation of prescription pill addicts, some of whom it seems will stop at nothing to get the drugs they are addicted to. And it doesn't stop there. The Environmental Protection Agency (EPA) is also looking into the potential negative effects of pharmaceuticals reaching the nation's water supply. Recent studies have detected the presences of antidepressants, birth control and painkillers in municipal drinking water around the US. The latest statistics indicate that the nation's prescription drug problem is worsening. The number of Americans seeking treatment for painkiller addiction has risen by more than 400 per cent
since 1998, according to numbers from the federal Substance Abuse and Mental Health Services Administration. Reports of adverse drug reactions have skyrocketed in recent years, resulting in the deaths of an estimated 20,000 Americans last year. There are some who believe that this number may be even higher, due to selective misreporting of causes of death. When will the madness end? When will our government agencies stop beating around the bush and take Big Pharma head-on? Or perhaps the better question is: When will we stop allowing ourselves to be victimised by Big Pharma and the medical system that supports it? It's a complicated matter, and I'll be the first to acknowledge that certain pharmaceutical drugs improve and save lives. However, I believe that if natural solutions to pain and other problems typically were more readily embraced, the issue would begin to resolve itself.Agencies
Endo Pharma paying $1.2bn for quality NEW YORK: Drug developer Endo Pharmaceuticals Holdings Inc said it is buying Qualitest Pharmaceuticals for $1.2 billion in a move to diversify its business and strengthen its position in the generic and pain drug markets. Endo said that 40 per cent of Qualitest's revenue come from pain products, making it a "natural extension" of Endo's position. Endo already makes the Lidoderm topical pain treatment patch and the pain treatments Opana and Percocet. The buyout also adds a broad range of generic products to Endo's portfolio along with pain products. The move comes as the company begins to prepare for potential competition on Lidoderm. Key patents on that drug are set to expire starting in 2015, which could open up the market for generic competition. Lidoderm had sales of $196.1 million during the fiscal second quarter ended in June. Shares of Endo rose $2.75, or 9 per cent, to $33.36 in morning trading and earlier reached a new 52-week high of $34.26. The purchase is the company's second acquisition in two months. Endo expects to complete its $144 million buyout of Opana ER partner Penwest Pharmaceuticals Co. by the end of the year. Penwest has worked with Endo on Opana ER's development and marketing since 1997 and receives royalty payments.
"The acquisition of Qualitest accelerates our stated strategy of building a diversified health care company, better able to respond to the changing economics that drive the US health care environment," said Endo President and CEO David Holveck in a statement. Endo, based in Chadds Ford, Pa., said it will finance the buyout with $500 million in cash, $300 million in existing credit, and up to $400 million in new financing. It plans to retain Qualitest's facilities in Huntsville, Ala., and Charlotte, NC, as well as its own facility in Westbury, NY The combined companies will have about 3,000 employees. About 40 per cent of Qualitest's portfolio of products consists of controlled substances, and liquids make up 17 per cent. Qualitest is owned by funds advised by the private equity firm Apax Partners. The deal will add about $400 million to Endo's revenue, the company says, and about 40 cents per share in net income. The company reaffirmed its 2010 outlook for adjusted net income per share between $3.30 and $3.35 on revenue between $1.63 billion and $1.68 billion. The transaction is expected to close late in the fourth quarter or early in the first quarter. Lazard and J.P. Morgan Securities LLC are serving as advisers to Endo and Qualitest, respectively.Agencies
fire and died.Dr Muhammad Farooq Khan was a recognised writer, columnist, and intellectual throughout the country. He is also known as a religious scholar and competent TV compare. He established his private practice in Mardan. Some of his works include "Pakistan and the Twenty First Century (Urdu)", "The Struggle for Islamic Revolution", and "What is Islam". God had bestowed upon him the quality of presenting his propositions in simple language and clarity of style. Meanwhile President Zardari and Prime Minister Gilani have strongly condemned the brutal murder Dr Farooq Khan. While reiterating the government's determination to fight terrorism both leaders have expressed their heartfelt condolences with the bereaved family and prayed to Allah Almighty to rest the departed soul in peace and grant courage to the members of bereaved family to bear this irreparable loss. -Agencies
No #10
Continued from page 1
vehicle. The death toll in the two attacks reached 18," said one intelligence official. At least six foreigners were killed in the first strike. There was no independent confirmation of the attacks and militants often dispute official death tolls. A large number of Arab, Chechan and Central Asian insurgents have taken shelter with Pakistani militants in the lawless tribal regions on the Afghan border after fleeing the US-led war in Afghanistan in late 2001. Militants in Pakistan set fire to three dozen tankers carrying fuel for NATO troops in Afghanistan on Friday, officials said. The Taliban claimed responsibility for the attack. -Agencies
No #11
Continued from page 1
The ministry has prayed the court to explain the said article and clarify whether or not the sentences waived by the president could be restored. It also appealed the court to hear the petition with NRO review case. Reports said registrar of the apex court returned the petition with objection that it's a separate plea which can't be heard along with the NRO review case. President Asif Ali Zardari on May 18, 2010 pardoned Federal Interior Minister Rehman Malik sentenced over corruption to block his possible arrest. Malik, one of the closest allies of Pakistan's head of state and a key member of his ruling party, was sentenced in absentia to three years in jail by an anti-corruption court in January 2004. Malik, who was abroad at the time of the conviction, appealed against the verdict but a court in Lahore had rejected his plea and cancelled his bail.-Agencies
No #12
Continued from page 1
Governor State Bank of Pakistan and stressed upon them to complete their homework regarding the economic review before the next IMF meeting due to be held in late November. It is pertinent to mention that to include any issue in the IMF Board of Directors meeting it is required to furnish the details at least ten days before the meeting, and it is feared that due to Eidul-Azha holidays, Government will not be able to complete its economic review therefore it could become the part of IMF Board of Directors meeting thus push the next tranche further.
No #13
Continued from page 1
question of just money," Miranda said in a telephone interview. "My biggest worry is that the reform agenda gets derailed. That we lose momentum."-Reuters
No #14
Continued from page 1
being raised in support of the PML-N and the PPP at one place, he said. The PM said that he had visited Kot Addu for distribution of Watan cards on the invitation of Chief Minister Mian Muhammad Shahbaz Sharif and added that the reconciliation policy improved efforts of the government in providing relief to affected communities. -Agencies
www.asharys.net
For Subscription
Manager Circulation Ahmad Omer
1.Classic News Agency Abdul Mutalib Ph: 0333 -230 07 66 2. E-mail at subscribe@thefinancialdaily.com, 3.SMS us at 0322-260 2 838 4. Contact Phone: 35 31 18 93 - 6
Italian Kitchens Karachi
Lahore
tel: 92(21)5860794-5
tel: 92(42)5694061-2
8
Sunday, October 3, 2010
RIAZ NEWS AGENCY Cell # 0333-5373137
SHAKIL NEWS AGENCY Cell # 0333-4400472
CJP takes suo moto notice of Lahore incident
Police, lawyers at each other’s throat Advocates also torture media men
LAHORE: United States Ambassador to Pakistan Anne W Patterson calls on PML-N chief Mian Mohammad Nawaz Sharif here at his residence. -Online
Patterson meets PML-N Chief
No compromise on sovereignty: Sharif LAHORE: Pakistan Muslim LeagueNawaz (PML-N) Nawaz Sharif said that drone attacks are straining Pak-US ties and no one would be allowed to hit the country's sovereignty. He expressed these views in his meeting with US ambassador to Pakistan Anne W Patterson on Saturday. According to media reports, the two discussed flood aftermath and the current situation in the country. The US ambassador ensured her full cooperation with Pakistan in all fields. Patterson lauded Punjab government's performance during flood situation.
Nawaz Sharif said that the drone attacks are putting negative impact on Pakistan. He said that America should form policies keeping in view the services rendered by Pakistan for America, added Pakistan has sacrificed more than any other country in the war against terrorism. He said that Pakistan played vital role in war against terrorism while America should help Pakistan to tackle with flood. Nawaz Sharif also expressed his concerns over the Nato attacked inside Pakistani territory. -Online
Special envoy to go US for Aafia issue
Several cases await Musharraf: Malik KARACHI: Interior Minister Rehman Malik said on Saturday that several cases are registered against former president Pervez Musharraf, adding if he wants to come to Pakistan then he will have to face cases. Interior minister said this while addressing a press conference here in the office of National Crisis Management Cell. He held General Musharraf did not bring NRO for PPP and he could only tell as to why he had promulgated it. Musharraf should clarify in the court that why he promulgated NRO at the advice of his friends and the questions on NRO should be asked from Musharraf. Interior Minister also informed that there had not been any deal struck between Benazir Bhutto and Mian
Nawaz Sharif, however both the leaders entered into negotiations for restoration of democracy in the country as even at that time Benazir Bhutto had talked of 'no deal' and hinted at returning to Pakistan and facing the cases. If there had been any sort of deal between Benazir Bhutto and Pervez Musharraf she would not have faced cases on her return to the country, he remarked. Responding to a query, Interior minister said that a number of cases were registered against Pervez Musharraf and despite it if he wanted to return to Pakistan he would have to face the cases. "When Musharraf comes to Pakistan then we will think about his arrest", he told. See # 3 Page 7
Several outfits there now have global aspirations: Mullen
Pak border areas termed terror hub WASHINGTON: A top US military official has said the militant outfits are seeking global reach, though the Pakborder areas remain the "epicenter of terrorism". "The reason we're focused on Afghanistan and Pakistan is that living in that border area are terrorists from various organisations and it's become the epicenter of terrorism in the world," Admiral Mike Mullen, Chairman of the Joint Chiefs of Staff, said in a speech at the Texas A&M University. "Several of those organisations, in addition to al Qaeda, now have global aspirations and are moving to a point of having global operational capacity. And they threaten us very specifically - the
United States, Western interests, our European friends," Mullen said. Keeping the pressure on the terrorist organisations now is critical, he said, adding that such measures include improving governance, education and economics in countries whose young people are becoming part of such groups. "I don't think we can kill our way through this. I think those conditions have to change and that's a long-term challenge. That's not going to happen overnight. But together with other countries -- responsible global powers -- we can make significant progress over time. That's the long-term answer," he said. -Online
CIA steps up drone drives in Pak: WSJ WASHINGTON: The US military is secretly diverting aerial drones from Afghanistan to escalate a CIA-led campaign against militants in neighboring Pakistan, the Wall Street Journal reported Saturday. The military has lent Predator and Reaper drones to Central Intelligence Agency operatives to target and bomb militants on the Afghan border, the report said, citing unnamed US officials. CIA drone strikes in September in Pakistan rose to an average of five per week, up from an average of two or three per week, the Journal said.
Increased strikes in September were partially aimed at disrupting a suspected terror plot against European targets, which was believed to target multiple countries, including Britain, France and Germany. Unnamed US officials told the paper that a successful terrorist strike against the West coming from Pakistan could result in US forces taking unilateral military action. According to the Journal, factories cannot produce aerial drones fast enough to satisfy the increased demands of the Pentagon and See # 4 Page 7
Osama urges Muslims to help Pak flood-hits DUBAI: Osama bin Laden called on Muslims around the world to mobilise to help victims of floods in Pakistan in what purported to be the second internet message from the al Qaeda leader in two days. In the 13-minute audio recording, issued on websites Saturday with a video showing a photograph of bin Laden and images of natural disasters, the speaker who sounded like bin Laden said the wealth and resources of Muslim countries should be used for relief operations in Pakistan. On Friday, al Qaeda's media arm Al-Shahab issued an 11minute audio recording in which bin Laden criticised relief efforts in Pakistan and called for action against climate change. The production date given for Saturday's message was the Muslim lunar month which began around September 10, while Friday's tape was said to have been produced in the previous month. -Agencies
LAHORE: Lawyers in Lahore defied section 144 for the second day as they clashed with police on Mall road on Saturday. The Lawyers had gathered inside the Aiwan-e-Adl for a meeting of the Punjab Bar Council and Lahore Bar Association. Lawyers threw stones on policemen and were seen damaging police vehicles. Policemen were brutally manhandled by some lawyers, as some were dragged out of police mobiles and beaten up. The lawyers also tortured media personnel covering the event. Camera men and reporters of various news channels and papers were reportedly injured as a result. Police in response resorted to baton charge and aerial firing to disperse the protesting lawyers. Several lawyers and policemen have been reported to have gotten injured in the clashes. On Thursday, lawyers attacked the Lahore chief justice's chamber and
Khawaja Sharif, Aitzaz entry banned in Lahore Bar LAHORE: Punjab Bar Council has imposed ban on entry of Chief Justice Lahore High Court Khawaja Sharif, Aitzaz Ahsan and others important personalities in Lahore Bar while President Lahore Bar has unanimously approved the resolution in this regard. According to media reports, Punjab Bar Council has banned the entry of Chief Justice of Lahore High Court Khwaja Muhammad Sharif in Lahore Bar, while the other banned lawyers include former president Supreme Court Bar Association Aitzaz Ahsan, Hamid Khan and President Supreme Bar Kazi Anwar, Justice Nasira Javed Khwaja Sharif's sons and son-inlaws. The imposition of ban on the lawyers has been decided during the meeting held at Punjab Bar against lawyer's arrest. It is pertinent to mention that during the meeting it was announced to cancel the licenses of banned lawyers. -Online several dozens were arrested on Chaudhry took suo moto notice of the Friday when they insisting on taking clash and the manhandling of the out a rally despite the imposition of lawyers by police. The action was taken on the reports section 144 on The Mall. No action has been taken against lawyers who of the print/ electronic media, the police entered the court premises were arrested on Friday. See # 1 Page 7 Chief Justice Iftikhar Muhammad
White House sees no Army rule in Pak WASHINGTON: Amidst reports of an eminent military coup or dislodging of present government by President Asif Ali Zardari, the United States expressed hope that Pakistan will stick to democracy and there will be no Army rule once again. "We believe that the government of Pakistan is committed to democracy and to the preservation of civilian leadership, obviously which we believe is tremendously important," White House spokesman Robert Gibbs told reporters. In response to a question, Gibbs said, "We will continue to work with our ally in ensuring we can do whatever is possible to assist them in their fight against those extremists that, again, not just threaten us, but threaten the existence of their own government in Pakistan". Noting that Pakistan is located in a dangerous neighborhood, the spokesman said everybody understands the concerns that the US has and now the concerns that the Pakistanis have in dealing with extremists in lawless areas. "Pakistan is an important strategic partner and a key ally to the United States," Gibbs said. he US is working with the civilian government to enhance its capacity," State Department spokesman PJ Crowley said."We support civilian government in Pakistan. We are working with Pakistan to See # 2 Page 7
Power deficit reaches 5kMW KARACHI: Power crisis has worsened, as supply-demand gap widens by 5000MW across the country, media reported Saturday. This has led to increased load-shedding in all the small and big cities of the country including Lahore, as the concerned authorities appear to have failed in overcoming the shortage. Pepco's weak financial condition besides failure to make payment for furnace oil and shortage of water and gas has brought the total generation down to 11,900-MW against the current demand of 15,977MW. According to sources, powerhouses at Faisalabad, Hubco, Kot Addu, Rosh and Southern Electric have shut down. As a result 8 to 10 loadshedding is being carried out in cities while in villages the suspension of power supply has reached for up to 18 hours. -Agencies
Corps Commanders meet next wk ISLAMABAD: Corps Commanders meeting has been convened next week to review the security situation arising out of Nato strikes inside Pakistan territory. According to a private TV channel and defence sources army chief Gen Ashfaq Parvez Kayani will preside over the meeting. Over all security situation of the country and situation which has arisen out of Nato helicopters strikes inside Pakistan territory will come under discussion in the meeting and a See # 5 Page 7
Printed & Published by Amir Abbas Ashary at DRC Printing Press for Data Research Communication (PVT) LTD, 111-C, Jami Commercial Phase VII, DHA Karachi.