The Financial Daily-Epaper-02-01-2011

International Karachi, Sunday, January 2, 2011, Muharram-ul-Haram 26, Price Rs12 Pages 8

Awan hints at reforms for good governance

POL price hike fuels public anger

See on Page 8

Kayani rejects USA pleas for NWA onset

See on Page 8

Ashraf switches on 201MW power plant

See on Page 8

See on Page 8 Economic Indicators $16.42bn Forex Reserves (27-Dec-10) 14.44% Inflation CPI% (Jul 10-Nov 10) $8.88bn Exports (Jul 10-Nov 10) $15.37bn Imports (Jul 10-Nov 10) Trade Balance (Jul 10-Nov 10) $(6.49)bn Current A/C (Jul 10- Nov 10) $(504)mn $4.43bn Remittances (Jul 10-Nov 10) Foreign Invest (Jul 10-Nov 10) $746mn Rs 495bn Revenue (Jul 10-Nov 10) $58.41bn Foreign Debt (Sep 10) Rs 5296.7bn Domestic Debt (Nov 10) Repatriated Profit (Jul- Nov 10) $287.9mn -2.81% LSM Growth (Oct 10) 4.10% GDP Growth FY10E $1,051 Per Capita Income FY10 171.45mn Population

Portfolio Investment

Bill becomes part of Constitution as President affixes his signature

19th Amendment Bill enacted

Political actors suffering defeat, says President Staff Reporter/ Agencies

SCRA(U.S $ in million)

195.39 KARACHI: President Asif Ali Yearly(Jul, 2010-31-Dec-2010) Monthly(Dec, 2010-31-Dec-2010) 32.67 Zardari on Saturday gave his for2.15 mal assent to the 19th Daily (31-Dec-2010) 2878 Amendment Bill, making it a part Total Portfolio Inv (24 Dec-2010)

NCCPL (U.S $ in million) FIPI (31-Dec-2010)

4.67

Local Companies (31-Dec-2010)

7.67

Banks / DFI (31-Dec-2010)

-4.36

Mutual Funds (31-Dec-2010)

-1.58

NBFC (31-Dec-2010)

-1.49

Local Investors (31-Dec-2010)

0.50

Other Organization (31-Dec-2010)

-5.40

Global Indices Close

Change

KSE 100

Index

12,022.46

9.00

Nikkei 225

10,228.92

Hang Seng

23,035.45

36.11

Sensex 30

20,509.09

120.02

SSE COMP.

115.62

2,808.08

48.50

FTSE 100

5,899.94

71.07

Dow Jones

11,577.51

7.80

GDR update $.Price PKR/Shares

Symbols

111.31

MCB (1 GDR= 2 Shares) 2.60 OGDC (1 GDR= 10 Shares) 23.51

201.29 42.81

UBL (1 GDR= 4 Shares) 2.00 LUCK (1 GDR= 4 Shares) 1.70

36.39

HUBC (1 GDR= 25 Shares) 10.85

37.16

Money Market Update T-Bills (3 Mths) 29-Dec-2010

13.20%

T-Bills (6 Mths) 29-Dec-2010

13.41%

T-Bills (12 Mths) 29-Dec-2010

13.73%

Discount Rate

29-Nov-2010

14.00%

Kibor (1 Mth)

31-Dec-2010

13.37%

Kibor (3 Mths)

31-Dec-2010

13.46%

Kibor (6 Mths)

31-Dec-2010

13.62%

Kibor ( 9 Mths)

31-Dec-2010

13.98%

Kibor (1Yr)

31-Dec-2010

14.12%

P.I.B ( 3 Yrs)

31-Dec-2010

14.16%

P.I.B (5 Yrs)

31-Dec-2010

14.22%

P.I.B (10 Yrs)

31-Dec-2010

14.26%

P.I.B (15 Yrs)

31-Dec-2010

14.53%

P.I.B (20 Yrs)

31-Dec-2010

14.73%

P.I.B (30 Yrs)

31-Dec-2010

14.88%

Commodities Crude Oil (brent)$/bbl Crude Oil (WTI)$/bbl

94.75 91.38

Cotton $/lb

144.81

Gold $/ozs

1,421.40

Silver $/ozs

30.94

Malaysian Palm $ GOLD (NCEL) PKR KHI Cotton 40Kg PKR

1,227 38,873 9,645

Open Mkt Currency Rates Symbols

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Australian $

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Danish Krone 15.00

15.10

Euro

112.00

112.20

Hong Kong $ 10.60

10.70

Japanese Yen 1.038

1.065

Saudi Riyal

22.75

Singapore $

64.50

22.95 64.70

Swedish Korona 12.00 Swiss Franc

12.70

86.90

87.10

U.A.E Dirham 23.10

23.20

UK Pound

132.15

132.35

US $

85.60

85.80

Inter-Bank Currency Rates Symbols

Buying TT Clean Australian $ 87.13 Canadian $ 85.69 Danish Krone 15.28 Euro 113.93 Hong Kong $ 11.02 Japanese Yen 1.052 Saudi Riyal 22.86 Singapore $ 66.60 Swedish Korona 12.68 Swiss Franc 91.35 U.A.E Dirham 23.33 UK Pound 132.34 US $ 85.62

Selling TT & OD 87.33 85.89 15.32 114.19 11.05 1.054 22.91 66.75 12.71 91.56 23.39 132.65 85.80

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of the Constitution, and said that the approval of 19th amendment is democratic gift of New Year adding political actors have tried to sell negative thinking and they are now suffering defeat.

In the second amendment to the constitution in less than a year, the amendment envisages a new system for appointments in the superior courts, aimed at set-

tling a potential source of discord between the judiciary and the parliament.

The bill was drafted by the 26member Parliamentary Committee on Constitutional Reforms, which also authored the landmark 18th Amendment that introduced a parliamentary role in top judicial appointments and was unanimously adopted by both houses of parliament in April.

The amendment envisages a new system for appointments in the superior courts, aimed at settling a potential source of discord between the judiciary and the parliament.

Before the bill was sent to the President for formal assent, it was unanimously passed by the Senate and a two-third majority by the National Assembly.

Under the amendment, the

Pak, India swap nuke sites lists ISLAMABAD: Pakistan and Indian Saturday exchanged lists of their nuclear installations and facilities under an agreement to prohibit any attack, by either side.

The lists are exchanged every year on January 1, under the "Agreement on the Prohibition of Attack against Nuclear Installations and Facilities", inked by the two sides on December 31, 1988.

The agreement is known as one of the best Confidence Building Measures between the two sides that has continued to remain effective despite the status of their ties.

Pakistan and India first exchanged the lists on January 1,

1992. Under the agreement, both the parties to "refrain from undertaking, encouraging or participating in, directly or indirectly, any action aimed at causing the destruction of, or damage to, any nuclear installation or facility in the other country".

The agreement defines "nuclear installation or facility" as a facility including nuclear power and research reactors, fuel fabrication, uranium enrichment, isotopes separation and reprocessing facilities.

According to a statement from the Foreign Office, the Ministry of Foreign Affairs handed over the list of Pakistan's nuclear installations and facilities to an See # 4 Page 7

ADB seeks legal status for PPIB ISLAMABAD: Government has decided to accord constitutional status to Private Power Infrastructure Board (PPIB) on the demand from Asian Development Bank (ADB) and other donor agencies to meet the growing demand of energy and fetch new investment in power sector.

PPIB sources told it would be given the status of a constitutional and autonomous institution to attract new investment in power sector and alleviate the apprehensions of donors.

This institute will play a vital role in striking deals in power sector and resolving the disputes.

It will be the responsibility of the board to initiate all projects, manage and monitor them.

Sources told the board would

be restructured and minister for water and power would be the chairman of this 15-member board.

Its members will include secretary water and power, secretary finance, secretary petroleum, secretary planning, secretary environment, chairman Wapda, chairman FBR, MD PPIB, provincial chief secretaries and two members from private sector.

Sources told following the passage of 18th amendment, every province would be authorized to install power generation project in public sector.

However every province would be able to utilise power so generated within its respective provincial limits while powers for See # 5 Page 7

number of senior judges as members of the Judicial Commission has been raised to four while the number of members of the parliamentary committee for the appointment of the Chief Election Commissioner has also been increased to 12.

The Chief Justice of Pakistan will make recommendations for the appointment of ad hoc judges in the superior courts in consultation with the Judicial Commission.

In case of dissolution of the National Assembly, the members of the parliamentary committee will be from the Senate only.

The amendment also provides permission for administrative and financial expenses of the Islamabad High Court. It also makes essential for the members See # 7 Page 7

Musharraf's staff officer goes missing LAHORE: Former president Pervez Musharraf's former staff officer (Retd) colonel Manzoor Hussain has been missing for last one day.

According to media reports, Colonel (Retd) Manzoor Hussain has recently resigned from DHA. Talking to private TV channel wife of Colonel Manzoor said that a suspicious vehicle was following him for last several days.

She demanded from Army Chief to take notice of the situation and get released her husband. She said that she had contacted to DHA several times but to no avail. -Online

2 drone attacks kill 15 in NWA MIRANSHAH: Two back-toback US drones killed at least 15 people in North Waziristan on Saturday, marking the beginning of the New Year.

Security officials in Miranshah confirmed the attack occurred in Mandi Khel, where two US drones fired four missiles.

Mandi Khel and the surrounding area considered to be a stronghold of the Haqqani network. Security officials said the men killed in these strikes are thought to be attached to militant commander Hafiz Gul Bahadur.

Drone strikes by the US in Pakistan's tribal areas have increased in the recent past with reports that the US is seeking to expand its covert drone campaign which has drawn much criticism from the public.

See # 6 Page 7

KARACHI: President Asif Ali Zardari signing the 19th Constitutional Amendment Bill at Bilawal House. Governor, CM Sindh also present. -APP

Malik assures resolution of outstanding issues

Govt, MQM iron out wrinkles in alliance KARACHI: The on-going tension within the ruling alliance seems to have been resolved much to the satisfaction of the MQM, as Interior Minister, Rehman Malik assured the resolution of all issues.

Talking to media here outside Bilawal house Saturday, Interior Minister Rehman Malik said that PPP is not going to present bill for restoration of Commissioners' system in Assembly.

He further said that reservations of MQM would be removed while such steps would

be taken that would satisfy MQM chief Altaf Hussain. He added that MQM did not demanded replacement of Home Minister Sindh Zulfiqar Mirza.

He further said that meeting with Governor Sindh Ishrat-ul Ebad was amicable. Answering to question about traveling on without number plate vehicle, he replied that the without number plate vehicle has been used to hide identity in wake of security concerns.

Earlier, on Friday, the Pakistan Peoples Party and the MQM agreed that all lawmak-

BESOS Trust formed in PR ISLAMABAD: A representative 9-member delegation of Pakistan Railways (PR) CBA PREM Union led by its Secretary General Ishtiaq Ahmed Aasi, which held a meeting with Senator Waqar Ahmed Khan Federal Minister for Privatisation here, lauded the formation of Benazir Employees Stock Option Scheme (BESOS) Trust in Pakistan Railways (PR) and the government's announcement for not privatising PR. The meeting was first of the series to initiate consultations with the CBA Workers Unions of Public Sector Entities (PSEs) to take on board the workforce, management and all the respective stakeholders for the capac-

ity building and improvement of SoEs and to resolve the employees fears, doubts and grievances if any in this regard.

Senator Waqar directed the Privatisation Commission officials to set up BESOS Trust in Pakistan Railways after having workers nominations as Trustees from all the workers unions of PR and to register it without any further delay in order to distribute 12 per cent GoP shares of PR among the employees for empowering them and to have their representation on PR Board for participating in the decision making process for the improvement and the progress of the entity for making it profitable.

See # 3 Page 7

ing, including the one relating to the Commissionerate System, would be done in consultation with coalition partners.

The agreement was reached at a meeting of a committee set up by President Asif Ali Zardari to sort out issues between coalition partners in the province. The five-hour long meeting between Rehman Malik, Sindh Governor Ishratul Ebad and Chief Minister Qaim Ali Shah was held at the Governor's House.

See # 1 Page 7

SECP, KSE settle issues ISLAMABAD: The Securities and Exchange Commission of Pakistan and Karachi Stock Exchange have resolved various outstanding issues amicably.

According to an SECP press release issued here on Saturday, the matters were resolved at a meeting between the SECP Chairman and the outgoing directors and the newly-elected directors of the KSE in Karachi.

The SECP Chairman said that chairman of KSE Board of Directors would continue to be from among the non-member directors keeping in view good corporate governance and in line with international best practices.

The SECP approved the appointment of acting managing director for an interim period and reiterated the need for an See # 2 Page 7

2 Pak,Yemen to promote trade, investment Staff Reporter Karachi: Dr. Mirza Ikhtiar Baig, Hon. Consul General of Yemen in Sindh and Advisor to Prime Minister on Textile attended Sixth Session of Pak-Yemen Joint Ministerial Commission meeting in Sana'a on Dec. 28-29, 2010.

Pakistan delegation was represented by Mir Hazar Khan Bijarani, Minister for Industries and Production, Dr. Ikhtiar Baig and Sohail Rehan Joint Secretary Economic Affairs Division. Both sides agreed to increase the present level of trade of US $170 Million particularly in the field of pharmaceutical, oil and gas, rice, food stuff, electric fans and footwear.

Private sector of Pakistan has proposed investment of about US $100 Million in LPG Extraction Gas project in Yemen to export LPG in Pakistan. A four-member technical committee has been constituted, headed by Dr. Mirza Ikhtiar Baig and representative from Ministry of Oil and Minerals, Yemen. Both sides agreed to establish Pak-Yemen Investment Company for the promotion of investment. The Yemeni Minister of Industry and Trade Yahya Al-Mutawakel and Pakistani counter part Mir Hazar Khan Bijarani, Minister for Industries Pakistan have agreed to negotiate Free Trade Agreement (FTA) between the two countries.

Sunday, January 2, 2011

PLGMEA terms

High mark-up, POL price hike as deathblow

By Staff Reporter Karachi: Fawad Ijaz Khan, Chairman, Pakistan Leather Garments Manufacturers and Exporters Association (PLGMEA) has strongly criticized the Government for simultaneously increasing the markup on export refinance, prices of petroleum products by up to 9.2% and the electricity rates.

The export industry is already besieged with the problems of excessive electricity load- shedding, precarious law and order situation and sharply increasing raw material prices. Government has given a severe shock to the industry on New Year Day by increasing the markup on export refinance, prices of petroleum products and electricity rates.

Fawad lamented that the SBP decision to increase markup rates on export refinance by 1% will subsequently increase the cost of production of exporters.

Our costs have gone up during this year because of increase in minimum salaries of workers, increase in electricity rates, increase in petroleum product prices, gas charges and now State Bank of Pakistan has increased the markup rate on export refinance.

Fawad urged the Governor State Bank of Pakistan to withdraw this increase in export refinance rate.

Fawad stated that prices of petroleum products directly impact fuel cost for generators because most of the times there is no electricity in factories.

The leather garment factories mostly give transport to their workers and transportation cost is bound to increase with the increase in petroleum price. Some chemical solutions used in leather garments production are derived from petroleum products which will further inflate the cost of production.

Fawad stated that it is very disturbing to know

that Government has also decided to increase electricity tariff by about 2-3% every month till June 2011 which will translate to 1625% increase in 8 months of 2010-11.

Trade Development Authority of Pakistan has also increased certification fees of Export Documents from January 1which will hit small exporters badly.

Fawad further stated that leather garments exporters are facing sharp increase in the prices of leather since exports of leather have surged by 43% during the period July - November 2010 as compared to previous year. Many animals have also died in recent floods causing shortage of raw hides and skins. If the costs continue to rise in alarming proportions then leather garments industry will be forced to shut down. These decisions of the Government will be a death blow to exporters.

They will no longer be competitive in international markets.

TV PROGRAMMES SUNDAY Time Programmes 7:00 News 8:00 News 9:05 Best of Subah Savere Maya Kay Sath 11:00 News 12:00 News 13:10 Newsbeat (Rpt) 14:10 Awam Ki Awaz (Rpt) 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Taxi News 20:05 The Anchor 21:00 News 22:03 Faisla Aap Ka 23:00 News 23:03 Awam Ki Awaz

SUNDAY Time 8:00 9:05

Programmes Chai Time (Rpt) Smithsonian Documentry 10:05 Dilkash Pakistan 10:30 Sara jahan(Rpt) 11:15 Karobari Duniya(Rpt) 12:00 News 12:05 Siyasat Mana Hai (Rpt) 13:00 AM News 13:05 Islamabad Say (Rpt) 14:00 News 15:00 News 15:05 Doosra Pehlu (Rpt) 16:00 News 16:05 Filmi Samaa(rpt) 16:30 Red Carpet (Rpt) 17:00 News 17:05 Aap Ka Paisa (Rpt) 17:30 Pakistan This Week 18:00 News 18:05 Sara jahan(Rpt) 18:30 Dilkash Pakistan 19:00 News 19:30 Tijarti Dunia 20:00 News 20:05 Kamyab 21:00 News 21:05 Teesri nazar 22:00 News 22:05 Agenda 360 23:05 Music Scene 23:30 Uff Tv 0:00 News

Dr. Mirza Ikhtiar Baig, Hon. Consul General of Yamen in Sindh, with Foreign Minister of Yemen H.E Dr. Abu Bakr Abdullah Al-Qarbi. Also seen. Pakistan Minister for Industries, Mr. Hazar Khan Bijarani and Pakistan Ambassador to Yemen Dr. Khwaja Alqama of the delegation attended Pak-Yemen Ministerial Commission (JMC) meetin in Sanaa Yemen.

Raised POL prices will ruin economy, says KATI KARACHI: The trade and industry has termed the unjustified increase in POL prices as "extortion" to the general public meant to ruin the economy.

The Patron In-Chief and Chairman, Korangi Association of Trade and Industry (KATI), S M Muneer and Johar Ali Qandhari along with Vice Chairmen, Salimu Zaman and Shahid Javed Qureshi said in a statement that government has once again taken a cruel act of increasing POL prices. They said that the government's move is just like stabbing in the back of the country's economy.

"At that juncture when the oil prices had gone to the world's highest at $147 per barrel, the prices of POL did not cross the level of Rs.60 per litre and now when the oil prices are prevailing at less than $80 per barrel the present government has brought the prices to over Rs80 per litre, which is sheer injustice to the nation. - ONLINE

‘Cost of doing business highest in Pak’

FPCCI strongly condemns raise in POL prices Staff Reporter KARACHI: The Federation of Pakistan Chambers of Commerce and Industry has strongly condemned the further increase in Petroleum Product charges and said the continuous increase in POL charges is a planned conspiracy in sabotaging the economy of the country which will only result in halting trade and manufacturing activities.

This was stated by New President of FPCCI Senator Haji Ghulam Ali, Tariq Sayeed, former President FPCCI ,SM.Muneer and Vice President Khalid Tawab, Usman Shaikh, Akber Khan and Dawood Usman Jahkurra in a meeting called to discuss the recent increase by OGRA at the Federation House, Karachi .

President of FPCCI Senator Ghulam Ali said that the government has to

change its priorities to rescues trade and industry from prevailing economic crises, He said that the government has no time for business community and it busy with political parties settling political issues and the government has to give up luxury expenditure on non development works and adopt austerity measures.

Tariq Sayeed said that the country facing serious economic crises and added that newly elected president of FPPCI have capability to take up business community issues with government and get them resolved Referring to RGST, he expressed that if it is implement it will further cripple economic conditions Former president FPCCI, Muneer expressing concern over indifferent attitude of Islamabad over ailing economic conditions and said that they are taking no remedial measure for recovery.

LAHORE: Governor punjab Salman Taseer and Federal Minister/ Chairperson Benazir Income Support Programm (BISP) distributing cheques under Waseelae-Haq Programm of BISP here at Governor House. Federal Minisater for Social Welfare Samina Khalid Ghurki is also present on the occasion.

People of Gilgit Baltistan supporting PPP: Sharmila Faruqui KARACHI: Advisor to Chief Minister Sindh on Information Sharmila Faruqui has said that President Asif Ali Zardari has won the hearts of the people Gilgit Baltistan giving Gilgit Baltistan Package and the present democratic government is paying full attention towards the development of Gilgit Baltistan.

This she said while talking to Jamil Ahmed Deputy Speaker Gilgit Baltistan Legislative Assembly here in her office on Saturday.

She said that the people of Gilgit Baltistan were peaceful and they were very happy with the Pakistan Peoples Party government.

Sharmila Faruqui added

that due to political reconciliation policy of President Asif AliZardari Gilgit Baltistan was heading towards political stability and financial prosperity and the present democratic government would get rid of the menace of terrorism and promote tourism, because Gilgit Baltistan was one of the most beautiful areas of the world.

She said President Zardari had introduced Benazir Income Support Programme which is a clear proof of his political wisdom and vision and it had been appreciated not only at national level but it had also been valued at international level. She added that media should create aware-

ness about the beauty of Gilgit Baltistan among the people of Sindh in order to encourage them to visit those serene and beautiful areas.

Provincial Advisor said that Karachi has the population of more than 170 million people and people have been killed here for certain reasons and these murders should not be given the name of target killing and it is the duty of the media to bring correct version before the people.

She appreciated the role of neighbour and friendly country China for its role in the development of the Gilgit Baltistan and said that the Government appreciates this. -ONLINE

LAHORE: The LCCI President Shahzad Ali Malik presenting the LCCI souvenir to Chairman APTMA Gohar Ijaz. The LCCI Vice President Sohail Azhar and Executive Committee members are also present.

KARACHI:- Sindh Governor Dr Ishrat Ul Ebad Khan presiding over a meeting to review Lyari Express Way's progress at Governor House.

APTMA Chief's SOS to Govt

Industry in Punjab to wipe out if remedial steps not taken Staff Correspondent LAHORE: The Chairman All Pakistan Textile Mills Association (APTMA) Gohar Ejaz, while giving an SOS call to the government, has feared that the industry in Punjab would wipe out if due facilitation in supply of energy, cut in interest rates and a duty-free market access is not ensured at the earliest.

The Chairman APTMA was speaking at the Lahore Chamber of Commerce and Industry on Saturday. LCCI President Shahzad Ali Malik, Vice President Sohail Azhar and APTMA Punjab office-bearers including Shahzad Ali Khan and Wisal Monnoo also spoke on the occasion.

Gohar Ejaz said that the industry has the ability to create two million jobs annually and ten million in next five years time if the business community is

taken on board in policy making mechanism.

The APTMA Chairman, who spent well over an hour at the LCCI, spoke his heart out and gave a detailed prescription for all the economic ills being faced by the country.

"Textile sector can generate 10 million new jobs in next five years and takes the textile exports to $40 billion provided Pakistan gets the same market access that is provided by the United States and European Union to 80 countries."

Market access is the main issue impeding Pakistan's textile export" he said adding that energy and power shortages in the country are making the exports expensive and further eroding our market penetration.

Elaborating his point chairman APTMA said that spinners produce excess cotton yarn than local

demand worth $2 billion a year that has to be exported.

He said the weaving sector of the country cannot use this yarn to produce fabric as the local demand is limited while exports are not possible due to lack of market access.

He said from the yarn that the weavers buy from spinners they produce grey fabric worth $2 billion that has to be exported because there is no demand for this fabric.

"We cannot blame the value added sector for not buying the excess fabric produced in the country" he said adding that the sector does not have the market access their competitors in Sri Lanka, Bangladesh, Vietnam, NAFTA and many other countries totaling 80 in all. He said value added apparel sector is subjected to 23 per cent import duties in these markets compared with zero rated access to the 80 privileged economies.

'Govt wants good relations with media' Staff Reporter Karachi: Advisor to Chief Minister Sindh on Information Sharmila Faruqui has said that the present democratic government is interested to keep close and good working relationship with media because Pakistan Peoples Party and journalists have given lot of sacrifices for the cause of democracy and borne cruelties inflicted on them by dictators.

This she said while talking to newly elected body of Karachi Press Club here at Karachi Press Club. She said the change which came through votes pushed democracy in the institutions and such type of change was always welcome because people came on merit through this process.

She added that KarachiPress Club was an old institution and her relation with it consisted of years and gradually it was becoming stronger.

Sharmila said that whenever PPP Government came into power , it supported journalists and would continue its support. She further said that Sindh Government would address the issues facing by the journalists and would take up the issues of journalists with President of Pakistan and Chief Minister Sindh.

She expressed hope that year 2011 would be the year of peace and harmony and would bring good news for the journalists.

Provincial Advisor added that government wanted to support small newspapers as well and was willing to improve liaisons between media and Sindh Information Department.

On this occasion Tahir Hassan Khan,President KPC, other office - bearers and members of governing body, Secretary Information Syed Mumtaz Ali Shah, Director General Abdul Aziz Uquali and Director Information S.M. Iqbal were present on the occasion.

Classified LOST This is to inform that my equivalence certificates for Grade 10 and Grade 12issued to me by the Inter Board Committee of Chairmen (IBCC) have been misplaced and despite best of my efforts, I have not been able to relocate them. Please report if found. my particulars are given below.

Dr. Adnan Asif pervez Ghias 116/1, 10th Street Kh-e-Bukhari, Phase VI, DHA, Karachi, Pakistan.

3

International

Sunday, January 2, 2011

US AIRLINES' DOWNSIZING SHOWS IN BLIZZARD * LOSSES WOULD BE GREATER IN NON-HOLIDAY WEEK * FEWER FLIGHTS STRESS PASSENGERS, BUT A PLUS FOR AIRLINES * AIRLINES IN "SWEET SPOT" FOR NEW FEES IF FUEL SPIKES

U

S airlines are well positioned to absorb costs of the East Coast blizzard that stranded thousands of holiday passengers this week, but they might be less lucky if the same type of storm hits next month when business travel picks up.

The airlines lack excess aircraft sitting around to pick up slack and move more passengers. That is by design, to meet softer demand during the recession and cope with high fuel prices.

"If something like this were to happen again in a non-holiday

period, then I think the damage would be much greater," said Bob McAdoo, a senior airline analyst for Avondale Partners in Kansas City, Missouri.

Most passengers stranded this week need to get home from the holidays. Less flexible business travelers are more likely to cancel than reschedule, eating into airline revenue and overriding any fuel savings from scrubbed flights, several analysts said.

Helane Becker of Dahlman Rose

& Co. puts this week's storm costs at about $100 million to $150 million, though most analysts are reluctant to peg a number.

Several airlines, including Delta Air Lines, JetBlue Airways, United Continental Holdings's United Airlines and Continental Airlines, said they have not yet estimated costs.

"It is too early to tell," said Mateo Lleras, a JetBlue spokesman. "However, should the weather system present material costs to the airline, we will most likely disclose them in our Q4

earnings call" on Jan. 27.

Christen David of Continental Airlines said the winter weather did not come as a surprise.

"Airlines anticipate that severe weather will affect our winter operations, and that is accounted for in our planning," David said.

U.S. airline flights are 80 percent full on average, and during the holidays they run close to completely full.

Flights were only about 70 percent full before the fleet downsiz-

ing as recently as 2002, McAdoo said, so if flights are canceled for a day or two it now takes the airlines much longer to find travelers an empty seat on another flight.

Several airlines, including Delta Air Lines, JetBlue Airways, United Continental Holdings's United Airlines and Continental Airlines, said they have not yet estimated costs.

The cutbacks came as domestic airlines lost nearly $54 billion this decade, according to Air Transport Association of America, which has not estimated this blizzard's costs.

"Ultimately, the benefits from lower capacity are far, far more beneficial to the airlines than the impact of not being able to accommodate a few more passengers in a fluke event like this," said Hunter Keay, a senior analyst at Stifel Nicolaus in Baltimore.

Available seat miles fell 6.9 percent last year, the most since a 16.2 percent drop during World War Two in 1942, the ATA said.

"We had a global recession, the worst recession since the Great

Depression, the highest fuel prices in the history of aviation, the volcanic ash issue, H1N1 and various terrorist threats" that propelled airlines to cut flights, said ATA spokesman David Castelveter.

Domestic capacity based on available seat miles has fallen 10 percent over 10 years, with a modest rise in the first quarter of 2011, he said.

"Carriers don't add capacity and allow it to sit waiting for a weather event," especially as fuel prices rise, Castelveter added. "If they were to add capacity, it would be to

meet demand and be used to fly passengers and generate revenue."

SILVER LINING Fewer flights and empty seats may mean higher ticket prices and fees and less elbow room for travelers.

But until the economy shows more meaningful growth, domestic airlines are unlikely to add much capacity.

Once the snow melts, the reduced capacity is seen reinforcing pricing power for the airlines.

"I would happily accept more capacity cuts and take the risk of

not being able to accommodate more passengers in the long run for the bigger-picture benefits," Keay said.

Airlines are still in a "sweet spot" to take advantage of tacking on baggage and other fees to compensate for rising fuel prices, he added. "Lower capacity has a benefit for let's call it 350 days of the year, and it maybe hurts on 15 days."

Stifel Nicolaus has a positive airline industry outlook for 2011, largely because of "capacity discipline" and added fees. -Reuters

Rising oil price adds to Asia inflation headaches R

ising oil prices present a new inflationary headache for Asia and further complicate the task of policymakers grappling with broader price pressures, an uneven growth outlook and surging dollar inflows.

Central bankers in Asia are reluctant to stifle growth by raising rates and are wary of exacerbating yield differentials with western economies and Japan that would further attract potentially destabilising capital flows.

At the same time, rising prices are politically fraught in countries such as India and Indonesia, which must decide between taking the fiscal hit of offsetting fuel price increases through subsidies or pass costs onto inflation-wary consumers.

Inflation is also a big worry for global economic powerhouse China, whose leadership perceives rising costs of living

as a threat to social peace and stability.

Beijing's Christmas day rate rise -- its second in two months -- underscored how its focus has shifted from nurturing growth to getting prices under control and India is expected to follow, resuming a tightening cycle that has brought six rate increases since March.

Asia's No. 1 and 3 economies can find comfort in signs that growth had sufficient momentum to withstand further policy tightening, but others -- particularly those relying heavily on exports -- seem less certain about next year's prospects. Yet South Korea, Indonesia, Thailand and Philippines are all also expected to tighten monetary conditions in 2011.

While raising rates can do little to cap cost-driven or imported inflation, it can help cool overall demand and contain inflationary expectations stoked by a broad rally in com-

modity markets.

"It is difficult for individual countries such as South Korea to deal with inflationary pressure coming from these external cost factors," said Lee Sung-kwon, chief economist at Shinhan Investment Corp in Seoul.

Lee said lowering tariffs on raw material imports, for example, will have a small impact on easing prices in South Korea, and expects the central bank to raise rates once each in the first and second quarters, to 3 percent from 2.5 percent now.

"Global prices of oil and raw materials will stabilise if China raises interest rates and the impact of the hikes materialise in that economy," Lee said.

HIGH AND RISING Oil prices have risen steadily this quarter. Benchmark U.S. crude <CLc1> hit a 26-month high on Monday near $92 per barrel and is forecast by some

analysts to be headed to $100, driven by quantitative easing in the United States and as robust growth in China and India drive demand.

A weak dollar and OPEC's evident reluctance to increase output add to the case for costlier oil in 2011.

"We see broad price rises in soft commodities, hard commodities and black commodities (oil and coal), which have translated into imported inflation and imported cost increases," said Chen Xingdong, chief China economist at BNP Paribas.

Demand for oil products in China, the world's No.2 consumer, rose 13.9 percent annually in November, as millions more Chinese bought cars and industrial and petrochemical demand boomed, despite a two-year old fuel pricing system designed to ensure rising crude oil costs were passed on to consumers.

BEYOND ENERGY In India, New Delhi this week deferred a decision on whether to lift the state-set price of diesel and cooking fuels, which would add to inflation, annoy the embattled ruling Congress party's rural

base and further embolden the political opposition.

Headline inflation in India was 7.48 percent in November, and the central bank's 5.5 percent inflation target for the end of the fiscal year in March appears increasingly out of

reach as food and fuel price rises accelerate.

The rise in global crude prices comes on top of high food prices and surging growth in many Asian economies.

Chen estimated that while fuels contributed 10 percent to China's 5.1 percent November inflation, a 28month high, food accounted for 74 percent.

Food prices, which like energy tend to be beyond the scope of monetary policy, jumped 11.7 percent in China in the year to November, while India's food price index rose 14.44 percent on the year as of Dec. 18.

"Rising oil prices will not be the only problem for inflation.

Higher food prices and wages, which are seen across Asia, will also push up inflation from the demand side," said Nuchjarin Panarode, economist at Capital Nomura in Bangkok. Reuters

Hungary, under fire, faces rough ride at EU helm U

nder fire from its EU partners for a series of unorthodox policy intitiatives, Hungary faces a rough ride when it takes over the rotating presidency of the bloc this week in the midst of a deep European debt crisis.

With Hungary at the helm, the 27-nation European Union faces major challenges, including the approval of changes to its main treaty to set up a new rescue mechanism for euro zone countries and the introduction of reforms to sharpen budget discipline.

Over the next six months, Hungary will preside over the launch of sensitive talks on the EU's 2014-2020 budget, which will pit Britain, Germany and France against poorer countries from central and eastern Europe.

Under Budapest's leadership, the bloc must also tackle divi-

sive issues like the integration of its large Roma minority and a push by Bulgaria and Romania to join the Schengen free-travel zone.

EU diplomats say the tasks could be more difficult for Hungary because of international criticism of its new media law and controversial economic policies.

But Budapest could still prove successful if it manages to steer the bloc through the myriad lower-level technical negotiations that will be necessary to bed down EU reforms, and relies on new institutions created by the Lisbon treaty to manage summits and broker deals.

"Of course, Hungary's unorthodox measures will not help its presidency, but we should not exaggerate their impact," one EU diplomat said. "Its image is tarnished,

but it is not the case that its work will be paralysed."

Hungary's Prime Minister Viktor Orban, whose centreright Fidesz party won a twothirds majority in parliament in April, has rejected the austerity measures adopted by many of his European partners and launched a set of unconventional fiscal measures.

The latest move by Fidesz is a media law which tightens government control over news outlets.

The Hungarian government says the legislation, which is due to go into effect on Jan. 1, will strengthen press freedoms by boosting transparency, and is in line with similar laws in other member states.

But it has provoked a sharp reaction from Budapest's EU partners.

Luxembourg Foreign Minister Jean Asselborn has

said the law violates the "spirit and letter" of EU treaties and raises questions about whether Hungary is "worthy of leading the EU." Germany has said it expects Hungary to change the law, a step Orban has rejected..

LESS POWER FOR PRESIDENCY Another EU diplomat said the media law would not necessarily lead to Orban being ostracised within the EU, pointing to the continuing influence of Italy's Prime Minister Silvio Berlusconi despite his control of Italian media.

But analysts agree that to make the Hungarian presidency a success, Orban will have to change the uncompromising, brash style that has gone down well with voters at home.

"You cannot behave like a bull in a china shop. The EU

does not work like that," said Zoltan Kiszelly, a political analyst. "The EU is built on consensus, not conflict."

Orban will not be in the driver's seat in many areas, including foreign policy and the major decisions taken at EU summits.

Those will be overseen by the EU's high representative, Catherine Ashton, and the EU's permanent president, Herman Van Rompuy. Both posts were created by the Lisbon treaty.

Major decisions affecting the euro zone are likely to be drafted by EU powerhouses Germany and France.

Still, Hungarian officials will preside over monthly meetings of ministers of agriculture, energy, environment, employment and, most crucially, of finances.

During Hungary's presidency, finance ministers should

finalise the package of reforms to boost fiscal discipline.

REFORMS, CENTRAL BANK IN FOCUS Hungary has pledged to be an honest broker, but diplomats say it does not help that its own house is not entirely in order.

The government's unconventional fiscal measures -- which include taxes levied on banks and mostly foreign firms and an effective nationalisation of private pension fund assets -have prompted ratings downgrades and elevated Hungary's risk premia as investors worry that the deficit could swell after 2012.

Hungary escaped financial meltdown in 2008 thanks to a bailout of the EU and the International Monetary Fund (IMF).

By February, Hungary will have to present to the EU and

investors a credible programme of structural reforms to prove it can keep the budget on a sustainable path.

If this package of reforms disappoints, the central European country could see its debt downgraded to junk status and face a sharp market selloff.

Orban's Fidesz party has already curbed the jurisdiction of Hungary's top court and placed people loyal to Fidesz at the top of public institutions in a consolidation of power that is expected to continue.

The government plans changes to a law on how members of the central bank's monetary policy council are appointed, in what is widely seen as an attempt to force the bank into monetary easing to support its pro-growth agenda.

This is a risk investors are already pricing in.-Reuters

4 Sunday, January 2, 2011

The Financial Daily International Vol 4, Issue 141

Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board

Imparting vocational training Shabbir Kazmi

T

raining and skills development S. Muneer Hussain Rizvi Haseeb Khan, FCA play vital role in the development a country. The demand Khurram Shehzad, CFA Asim Abbas Ashary, CPA for vocationally trained and technically Prof. Zakaria Sajid (KU) Akhtar M. Zaidi, FCA educated human resource rises with Zahid Bukhari SVP HBL (retd) industrialisation and modernisation of Dr. A. Hadi Shahid, FCA production units and work premises.

Ismat Sabir Muhammad Arif Therefore, skill and capital are compleHead office mentary. A review of the status of voca111-C, Jami Commercial Street 11, Phase VII, DHA Karachi tional training, policies and practices Telephone: 92-21-35311893-6 Fax: 92-21-35388428 and their impact on the development of URL: www.thefinancialdaily.com human resource in Pakistan indicate Email Address: editor@thefinancialdaily.com urgent need to enhance skill developLahore office ment programs. It is also evident that 24- Peshawar Block, Fortress Stadium, Lahore there exists a wide gap between Telephone: 92-42-6675595 Fax: 92-42-6664349 demand and supply of effective manEmail Address: editor@thefinancialdaily.com power and lack of coordination amongst government and private agencies. There is a need to update and revise the existing curriculums, enhance of the status of the teachers, and strengthen the Institutions.

Pakistan has favorable demographic transition trend, therefore, there is a need to exploit it properly.

The key industries of Pakistan include textiles and clothing, sugar, automobiles, fertiliser, refining etc.

However, a quick review shows an acute shortage of institution which can impact contemporary training.

Vocational training can improve efficiencies, minimise wastages and achieve greater value addition. Textiles Lately, the sound-bites of politicians, sent on and clothing sector not only has the air, highly indecent language was used, which most elaborate infrastructure but also suffers from gross inefficiencies. The must be deplore by all and sundry. While it may ginning factories still use highly obsobe said that media aired whatever was said, but lete technology which damages the The ultimate result is that isn't there any code of conduct? Even if dis- fiber.

Pakistan still produces coarse counts of gusting remarks were given was it not the yarn from cotton capable of producing and fine counts. Weaving and responsibility of the media to expunge it? Not medium processing is done on outdated only that these comments have hurt the image machines. Output of workers involved of the politicians, airing of these remarks show in stitching (assembly lines) is very low. Wastages are highest at cutting that at time media initiates the confrontation. level, due to non-deployment of comThis has been the complaint of some of the puter-aided technology. If modern technology is used fabric waste can be politicians that at times media itself becomes a reduced by two-thirds.

Decency must prevail

party.

It was not distant past that media was in the shackles of policy parameters. During this decade private sector has been given dozens of permissions to set up television channels, FM radio stations and publish hundreds of daily newspapers and periodicals. Though, the government hasn't come up with censor codes, the choice has been left with the publishers and broadcasters to follow a minimum policy line.

However, at times it seems that wishes become news and panelists are humiliated in the name of independence of media. It is also alleged that some of the anchors are notorious for not only initiating controversies but also fueling those.

It is on record that one of the panelists threw a glass on another panelist. Since the show was live all the viewers witnessed it. To make the issue further disgusting the clip was shown repeatedly by the channel.

Even in the past the broadcasters and publishers have realised the need to come up with 'Code of Conduct' but things seem to be going from bad to worse. It seems that at times owners/managements are helpless or rather fall prey to 'rating' phobia. A little is known to the viewers and readers how the rating is undertaken but at times it is alleged 'rating is often linked with nuisance value' of the current affairs programmes. Around the world television channels earn money from entertainment shows to finance current affairs programmes, but it seems contrary in Pakistan.

Media has enjoyed freedom for nearly a decade and by this time must have attained maturity to frame its own code of conduct. It has become extremely necessary to draw a line between news and opinion, and criticism and humiliation. It is the responsibility of media to maintain harmony among different cast, creed and linguistic groups. If media itself become a party then it will not be possible to undertake constructive criticism. Need of the time is to maintain interfaith harmony. Pakistan faces internal and external enemies and their ulterior motives can only be defeated by standing united against all sorts of aggression.

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.

Sugar is the largest agro based industry and the driving engine of rural economy. However, the average capacity utilisation is pathetically poor. The industry is capable of producing 9 million tons refined sugar but average annual production hovers around 3.5 million tons. The factors for poor capacity utilisation include from an acute shortage of sugarcane to inefficient plants. Production and productivity of sugarcane can be doubled by planting high yielding varieties and better crop management without

The Commission reviews, devises policy and evolves strategy/prepares training programs relating to human resource development focusing on technical education and training.

NAVTEC is also responsible for developing national occupational skills standards, curricula and trade testing certification systems for all sectors in which technical education and vocational training is imparted.

NAVTEC in collaboration with the Ministry of Tourism, Pakistan Institute of Hotel & Tourism Management

A little focus of vocational training in the trades most demanded in the Middle East can help in getting better recognition for themselves as well as earning more foreign exchange for the country enhancing area under sugarcane cultivation. A little attention on sugarcane crop can help in saving millions of dollars being spent on import of refined sugar. In fact this industry can help in earning hundred of millions of dollars by exporting sugar, molasses and ethyl alcohol. However, this is not possible without improving skills of all those involved, from growers to sugar technologists.

Realizing the role of skilled and technically educated manpower for development of overall national economy, the Government of Pakistan has established the National Vocational & Technical Education Commission (NAVTEC). The Commission has been assigned the mandate to facilitate, regulate, and provide policy direction for technical education and vocational training to meet national and international demand for skilled manpower.

(PITHM), Tourism Development Corporation of Punjab (TDCP), PakAustrian Institute for Tourism & Hotel Management (PAITHOM) and Lahore Institute of Technical Education (LITE) organizes courses of different duration in tourism and hospitality sector. These courses are organized at Karachi, Lahore, Faisalabad, Rawalpindi, Swat (Gulibagh), Gilgit, Hunza, Skardu and Chitral. As a model of public-private partnership, NAVTEC in collaboration with Marriott also runs courses in hospitality at Islamabad.

Training courses include front office (receptionist), food service (waiter), food production (cooking) and housekeeping. Courses are designed to impart skills to both men and women with minimal literacy and comprise theory and on-the-job practice at selected hotels.

Responding to the demands of skilled

manpower for the construction sector, NAVTEC in collaboration with Construction Technology Training Institute (CTTI), Islamabad, Lahore Institute of Technical Education (LITE) Lahore, Balochistan Institute of Technical Education at Quetta organizes training courses ranging from three to six months duration. Training courses include construction material laboratory technician, civil draughtsman, basic civil surveyor, mechanic, heavy machinery operator, electrician, turner mechanist, carpenter, building painter, steel fixer, plumber, sanitary and brick layer/mason.

Keeping in view the key role of agriculture sector in creating job opportunities, NAVTEC in collaboration with the best agricultural universities organizes skills development courses in livestock and dairy sector. Courses are conducted at Agriculture University Faisalabad, University of Veterinary and Animal Sciences Lahore, Islamia University Bahawalpur, and Bahauddin Zakariya University Multan.

Many experts term large population of Pakistan a course. However, they don't realize that it is one of the biggest assets of the country. At presently workers remittances amounts are getting close to one billion dollars a month and there is potential for further growth. Some of the critics are also afraid of 'brain drain' but do not take into account high unemployment rate prevailing in the country. Till recently Pakistan has been exporting unskilled or semi skilled workforce, often accused of suffering from low productivity as compared to the workers of India, Sri Lanka, Thailand and Bangladesh. A little focus of vocational training in the trades most demanded in the Middle East can help in getting better recognition for themselves as well as earning more foreign exchange for the country. A better inaction with the consulates of these countries can also help in removing the label that Pakistanis are not good workers.

Sudanâ&#x20AC;&#x2122;s Bashir calls for broad-based government S

udanese President Omar Hassan al-Bashir made a rare public appeal Friday to opposition parties to join broad based government just days ahead of a vote which will likely see the south move toward independence.

A January 9 referendum on secession for the oil-producing south has preoccupied Khartoum as the expected split would weaken his government. There would be a loss of goodwill among the north's majority pro-unity population as well as a weakening of its financial base with the loss of key oil revenues.

Bashir is the only sitting head of state indicted by the International Criminal Court accused of war crimes and genocide in the war-torn western Darfur region. This has curtailed his international travel and left him largely politically isolated.

The approach to opposition groups

may be a sign Bashir feels increasingly pressured, although critics suggest it may be no more than window dressing, since similar moves for rapprochement have previously come to nothing. State news agency SUNA quoted Bashir as calling for a "broad-based government to unite the internal front."

"I sincerely call on all the national powers and leaders of political parties to unite their hearts and minds behind one aim -- strengthening the foundations of our nation and its independence far from foreign intervention," SUNA quoted Bashir as saying in his annual address for Sudan's independence day.

"We totally reject this -- the only solution now is for Bashir to resign, hold new elections and a forum to agree a new constitution," Kamal Omer, a senior official from the opposition Popular Congress Party.

Sudan's opposition is still smarting from April elections which handed Bashir's ruling National Congress Party a major victory and a parliamentary majority which will allow them to change the constitution post secession.

Much of the opposition boycotted the polls and those participating cited blatant fraud. Observers said the polls fell short of international standards.

Earlier this year Bashir made a halfhearted attempt to woo the opposition and requested a meeting. But he refused to agree on an agenda, and the political parties rejected the move.

The opposition says the NCP alone should fully bear the dubious historical accolade of being the government to preside over the break up of Africa's largest country. If the south secedes as expected, the departure of the south and its ruling party from parliament and government in 2011 will leave a

quarter of the parliament and cabinet posts open and available to the northern opposition should they wish to join.

However the positions of the NCP and opposition are miles apart on what they believe a national government should entail and with an expected secession of the south so near and Sudan entering into an economic crisis, most parties are reluctant to join what they view as a sinking ship.

Sudan this week ended Darfur peace negotiations in Qatar withdrawing its delegation after the mediation failed to deliver any meaningful progress.

Clashes with all rebel groups, even the only one to have signed a peace accord with Khartoum have reignited forcing thousands more to flee their homes.

Bashir said he was still committed to peace in Darfur but that any talks must continue within Sudan. Reuters

Estonia joins euro zone E

stonia joined the euro zone as its newest member Saturday, but the currency club's deepening crisis is likely to put off bigger eastern European entrants from joining for up to a decade. The small Baltic state of 1.3 million became the 17th euro zone country at midnight, beginning a switch from the kroon, and was the first former Soviet state to adopt the euro.

Prime Minister Andrus Ansip was the first to take euros out of a specially installed cash machine outside a theater where a ball had been held to celebrate the switchover and the New Year. "It is a small step for the euro zone and a big step for Estonia," he said, holding the notes. "We are proud to be a euro zone member state."

Estonia sees changing to the euro as marking the end of its struggles since a 2009 recession lopped 14 per cent off its output. It hopes to entice investors by removing any fears of devaluation and make borrowing more secure for its people, many of whose mortgages are already in euros. It also caps a drive for integration with the West, away from the influence of Russia, that began with the collapse of the Soviet Union in 1991.

With a similar history, neighbors Latvia and Lithuania hope to adopt the euro in 2014 and have also had their currencies pegged to the euro for years.

The kroon will be converted at the rate of 15.6466 at which the currency was pegged to the euro. They will cir-

culate together as legal tender for two weeks. An anti-euro campaign kept up its rhetoric, saying in a statement Estonia was getting the last ticket for the Titanic.

Nobel laureate economist Paul Krugman said in a blog that the switch was a symbol of Estonia's transforma-

exchange rates will make them less competitive and less able to withstand financial ructions. The debt crisis has also undermined the idea that being a euro zone member guarantees lower borrowing costs.

Polish central bank Governor Marek Belka repeated his skepticism to tabloid

Poland, Hungary and other eastern European EU states are all skeptical toward joining the euro. They have all promised to join the euro zone one day but want to see how the debt problems of Ireland, Greece, Spain and Portugal are solved. tion from a Soviet province to a good European citizen, but that the cost had been high for the economy. "So, congratulations to Estonia but condolences too. This wasn't the glittering euro entrance you were promised," he wrote.

EASTERN SKEPTICS Poland, Hungary and other eastern European EU states are all skeptical toward joining the euro. They have all promised to join the euro zone one day but want to see how the debt problems of Ireland, Greece, Spain and Portugal are solved.

They also fear that losing flexibility

newspaper Super Express, saying Poland would join when there was "order" in the euro zone. "In the euro zone there are dramatic things happening, so why rush?" he said.

Czech Prime Minister Petr Necas has said the euro would not be to the country's advantage for a long time.

Economists say the larger eastern EU nations may now not join before 20192020.

Chancellor Angela Merkel, however, reiterated Germany's commitment to the single currency in a New Year address. "The euro is the foundation of

our prosperity," she said. "Germany needs Europe and our common currency ... We Germans assume our responsibility, even when it is sometimes very hard."

French President Nicolas Sarkozy said: "Don't believe, dear compatriots, those who suggest that we should leave the euro ... The end of the euro would be the end of Europe," he said in a televised New Year address.

IN GOOD SHAPE Estonia will be the currency club's poorest member but its debt and deficit levels the cause of the crisis for some current euro zone members are among the lowest in the bloc.

Ansip's center-right government has slashed spending and hiked some taxes to ensure the budget deficit stayed low.

Ansip told a news conference Estonia had its eye on the euro zone's woes, but was sure Greece and Ireland would cope.

In economic terms, the single currency bloc will barely notice the addition Estonia's GDP is just 0.2 per cent of the current euro zone's 8.9 trillion euros.

Euro membership could help the Nordic banks, now the major players in the Baltic region, led by Swedbank and SEB. All three Baltic nations went through Soviet, Nazi and then Soviet occupation again, so becoming part of Western economic and security structures has been of prime importance.

They joined NATO and a self-confident European Union in 2004. Reuters

5

Sunday, January 2, 2011

Best way to Babies may gain extra better your weight on standard formula memory

M

emory loss is the single biggest fearfor Americans over the age of 55. And it's understandable: over 4 million currently suffer from Alzheimer's disease, and those numbers are expected to quadruple by 2050, according to the Alzheimer's Foundation. That may be why products promising to improve your brain function are flooding the market.

Sudoku and crossword puzzles are said to improve memory association skills, though critics believe only when put to task by those puzzles. Ginkgo infused soft drinks line the grocery aisle, ever since the root was suggested to combat dementia (it doesn't). Even celery has been looselylinked to mental acuity.

But the truth is there's not enough hard evidence that any of these things really work.

In fact, there's only one practice that's been proven, without question, to preserve your memory: exercise. "Aerobic activities tend to show larger effects than non-aerobic activities," University of Pittsburgh psychologist Kirk Erickson tells Yahoo.

Working up a sweat helps your mind stay fit better than any crossword puzzle--unless you're doing that crossword on a treadmill.

The good news is that you don't need to run a marathon. Just walking six miles a week can ward off memory disorders caused by aging, according to Erickson's research published this month in the medical journalNeurology. "It appears that if people start exercising their memory may improve and if you continue to exercise, that might delay, or offset, the age-related decline in memory," he explains.

And you don't need to lift any heavy barbells either. Erickson and his team monitored 300 senior adults over a period of 13 years, and found that those who walked between 6 and 9 miles a week-whether to work or with the dog--had half the brain deterioration of those who didn't. "Exercise seems to enhance some of the more fundamental properties of our brain," Erickson explains. "It increases the growth of new cells and improves cellular processes associated with learning and memory." To put it simply, walking keeps your gray matter from shrinking. And the more matter, the more mind.

Another study published earlier this year suggests exercise can actually help your brain grow. A moderate workout may generate new brain cells. And not just any brain cells, but cells that specifically help to distinguish between memories, so each recollection stands out. It's the kind of function you rely on every day, says Tim Bussey, one of the authors of the Cambridge University study. "[These cells help with] remembering which car parking space you have used on two different days in the previous week."

But exercise isn't the only way to keep tabs on your parking spot. There are some supplemental practices that doctors recommend in addition to a regular walk-a-thon. Diets rich in Omega fatty acids are instrumental in keeping your brain from aging. Two servings of salmon a week, provides ingredients that support brain tissue and enhance nerve cell function.

Balancing fish with the other elements of a Mediterranean diet, like fruits and vegetables, has been found to lower the chances of cognitive decline. When it comes to memory retrieval, selftesting can be beneficial. In other words, pausing between paragraphs of an article and asking yourself to paraphrase the information, or repeat a fact. It can't hurt if that article is written in another language. Bilingualism, says one new study, helps ward off Alzheimer's for up to four years. But it doesn't prevent the disease altogether. Your best bet: Walk it off.

All infant formulas may not be equal when it comes to babies' weight gain over their first months of life, a new study finds.

In a study that followed 56 formulafed infants, researchers found that babies on hypoallergenic formula stayed close to the "normal" weight-gain pattern seen among breastfed infants, while those on standard formula packed on pounds more quickly.

At the age of 7 months, babies on regular formula weighed over 2 pounds more, on average, than those on the hypoallergenic variety.

Past studies have shown that bottle-fed infants tend to weigh more than breastfed ones.

Now these latest findings, reported in the journal Pediatrics, suggest that different types of formula might vary in their effects on babies' growth. "When you compare them to the 'gold standard' of breastfeeding, the babies (on hypoallergenic formula) looked like breastfed babies," said lead researcher Dr. Julie A. Mennella, of the Monell Chemical Senses Center in Philadelphia.

Hypoallergenic formulas, also known as protein hydrolysate formulas, are designed to lower the likelihood of the allergic responses some infants have to standard formula.

Like standard formula, the hypoallergenic products contain cow's milk proteins; the difference is that the proteins are broken down so that they are less likely to spur an allergic reaction compared with the intact proteins in regular formula.

Breast milk is considered the best nutrition for infants. But hypoallergenic formulas are often recommended for infants who aren't being breastfed

and either have allergies or are at increased risk of them -- usually because of a strong family history of allergies.

Mennella and her colleagues suspect

this point," Mennella said.

Much more research, she said, is needed to understand the effects of different types of formula on babies' overall growth and development, versus

that infants may gain less weight on hypoallergenic formulas because of the form in which the proteins are provided.

The broken-down proteins may, for example, be absorbed differently or have different effects on infants' metabolism, Mennella said.

The hypoallergenic formula used in the study had the same number of calories as the regular cows-milk formula, but 35 percent more protein (1.9 vs 1.4 grams per 100 milliliters) and slightly less carbohydrate.

Does this mean that all parents who are opting to bottle-feed should go for a hypoallergenic formula?

"No, I don't think we can say that at

breastfeeding.

What's more, the current study did not include infants on soy formula, a popular alternative to cow's milk varieties. Ongoing research by other investigators, Mennella noted, is looking at the effects of soy formula on growth.

"There is still so much we don't know about the early determinants of infant growth," Mennella said.

Hypoallergenic formulas also have some strikes against them. In addition to the fact that they are normally recommended only for allergy-prone infants, they are much more expensive than standard formula.

Brands like Nutramigen and Alimentum, for example, cost between

$20 and $30 for about 20 baby-bottles' worth of formula in powder or concentrated liquid form.

The current findings are based on 56 new mothers who had chosen to bottlefeed and were randomly assigned to use either standard or hypoallergenic formula. All of the infants were healthy.

At the study's start, when the infants were about 2 weeks old, the average weight in the standard-formula and hypoallergenic-formula groups was nearly identical. By the age of 7.5 months, however, babies on standard formula outweighed their counterparts by more than 2 pounds -- even though they were no taller.

When the researchers had moms and infants come to the lab once a month, they did find that babies on hypoallergenic formula tended to consume less at each feeding than the standard-formula babies.

The reasons are not clear, but babies on the anti-allergy formula did not seem to be turning their noses up at it. (The formulas are wellknown, among parents, to have a lessthan-pleasant scent and taste by adult standards.)

Understanding how early nutrition affects infants' growth is vital, Mennella noted, because experts believe that our first year of life helps determine our risks of obesity, type 2 diabetes and even heart disease years down the road.

"Many factors contribute to infant weight gain," Mennella said.

"However, studies like this strongly suggest that we need more research to better understand what regulates infant feeding and weight gain."-Reuters

Pollutants in boys' blood tied to lower growth B

oys exposed to unusually high levels of environmental pollutants are smaller than their peers, a new study reports.

After following nearly 500 boys for three years, an international group of researchers found that those with the highest levels of polychlorinated biphenyls (PCBs) in their blood were nearly three centimeters (more than an inch) shorter than boys from the same region with the lowest amount of PCBs in their bodies.

Boys with the highest exposures also averaged two points lower in body mass index (BMI), a measure of weight relative to height.

The authors found a similar pattern in boys with the highest exposure to the pollutant dioxin.

"You're always a little surprised to see such a dramatic effect," study author Jane Burns of the Harvard School of Public Health told Reuters Health, but the findings are "consistent" with some other research about the effect of these chemicals.

Burns explained that the boys included in the study have much higher exposures to these pollutants than the general U.S. population, likely a result of their proximity to a chemical plant that generated dioxin as a byproduct. But a small number of people in the U.S. and other developed countries live in regions with exposures that match - or even exceed

- those seen here, she added.

PCBs were once used in everything from appliances and fluorescent lighting to insulation and insecticides.

While the chemicals were banned in the 1970s as potential health hazards, they remain a public-health concern

and other ailments. A study of children in Taiwan also found that those exposed in utero to PCBs from contaminated cooking oil were shorter than their peers.

Dioxins are toxic substances formed by burning -- for example in waste

because they linger in the environment and accumulate in the fat of fish, mammals and birds.

Research has linked PCBs to an elevated risk of cancer, type 2 diabetes

incinerators or forest fires -- and in some industrial processes. Airborne dioxins are deposited onto plants, soils and water, and they enter the food chain when ingested by livestock

and fish. Dioxin exposure has been shown to lead to both higher cancer rates and changes in birth rates resulting in more female babies and fewer males.

To further investigate the impact of high exposures to PCBs and dioxins on growth, Burns and her colleagues took blood samples from 499 boys ages 8 and 9 living in Chapaevsk, Russia, an area known to be highly contaminated.

Indeed, the highest levels of PCBs and dioxins in the boys' blood far exceeded those found in the average U.S. population, Burns noted.

Prenatal exposure to PCBs, but not dioxins, has been linked to low birth weight. And along with differences in the prepubescent boys' height and weight, the authors found that those with the highest blood levels of PCBs were growing significantly more slowly than boys with the least exposure - by about 0.2 centimeters a year over the three-year study period.

The findings appear in the journal Pediatrics.

It's not entirely clear why PCBs or dioxins might affect growth, Burns said in an interview. "We're not really sure of what the mechanisms are."

Research suggests dioxins interfere with genes that regulate normal development, while PCBs disrupt the regulation of thyroid hormones, which could impact growth.-Reuters

More signs lung cancer screening could save lives M

ore research is suggesting that heavy smokers may benefit from screening for lung cancer, to detect tumors in their earliest stages.

A new study finds that regular smokers who received threedimensional X-rays to look for the presence of early tumors had a significantly lower risk of dying over a 10-year period.

The results are in keeping with those of a much larger study published last month, which showed that these 3-D X-rays, or CT scans, reduced the death rate among 53,000 current and former heavy smokers by 20 percent compared with screening using regular chest X-rays. That previous finding was "very good news in the field," said Dr. Bruce Johnson of the Dana Farber Cancer Institute, who treats lung cancer patients and reviewed the results for Reuters Health.

This latest study, published in the journal Lung Cancer, looked at death rates in a different, smaller population of heavy smokers, and estimated that those who received up to two CT scans would have between a 36 and 64 percent lower risk of dying, compared to those who went unscreened.

The data are "consistent" with earlier studies but there are still many issues to resolve regarding lung cancer screening, Johnson said.

For one, scientists haven't yet worked out how often to screen people, and when to start. It is not clear when or how guidelines for lung cancer screening could be drawn up, and until they are, insurers including government programs such as Medicare are unlikely to pay the average $300 cost of a scan.

Furthermore, an April study

showed that 21 percent of a patient's initial lung CT scans show suspicious lesions that turn out not to be cancer, but lead to needless invasive follow-up procedures and radiation exposure, as well as stress and anxiety for patients and their families.

The high so-called "false positive" rate is an issue, said Dr. James Hanley of McGill University, who also reviewed the findings for Reuters Health, but many mammograms also find lesions that turn out to be benign. And for lung cancer, doctors know there is a high falsepositive rate and have a set protocol to follow in order to determine which lesions are dangerous, added Johnson.

Lung cancer kills 1.2 million people a year globally and it will kill 157,000 people in the United States alone this year, according to the American Cancer Society.

Tobacco use accounts for some 85 percent of lung cancer cases in the U.S., and one estimate puts a smoker's lifetime absolute risk of developing lung cancer between 12 percent and 17 percent. Fiveyear survival rates for lung cancer are low.

In recent years, CT scans, in particular, have been promoted by some hospitals and advocacy groups for lung cancer screening, even though studies had not yet shown definitively whether such screening saves lives.

In 2006, Dr. Claudia Henschke, currently based at Mount Sinai School of Medicine and Arizona State University, caused a stir when she published a study concluding that 80 percent of lung-cancer deaths could be prevented through widespread use of spiral CT. Her ideas were controversial to start with, especially when other

researchers found her work had been paid for by a tobacco company.

In the current study, funded in part by manufacturers of CT scanners (along with government and other sources), Henschke and her colleagues compared outcomes for nearly 8,000 smokers and former smokers who volunteered to undergo CT scans to outcomes in two sets of people with smoking histories who were not scanned.

The three groups of people had some important differences, such as in average age and how long and heavily they had smoked, so the researchers had to use mathematical tools to try to eliminate the influence of those differences, said Hanley. For instance, to compare death rates, the researchers tracked how many people died among those who were screened, then pulled out all the people with similar underlying characteristics in the

other two groups and looked at their death rates, Hanley explained.

A total of 64 people died in the screened population, the authors report -- but applying the death rate among people with the same underlying characteristics in one of the unscreened populations, they estimated that the number of deaths would have been 100. This translates into a 36 percent lower risk of dying among the screened population.

Applying the same methods to the other unscreened population, the authors estimated that screening was associated with a 64 percent lower risk of dying.

Overall, research is suggesting that CT scans of people at risk of lung cancer might make a dent in cancer mortality, and it's possible that more frequent screening might make an even bigger dent, Hanley noted. "If screening is going to work, you've got to keep at it."

6

Sunday, January 2, 2011

Mobile Prices Updated on 1 January, 2011

ALI ZHORAIZ JAFFRI

Nokia 1202 1203 1208 1209 1280 1616 1800 2220 Slide 2330 Classic 2600 Classic 2690 2700 Classic 2730 Classic 3600 slide 3610 Fold 5030 5130 5220 5230 5250 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 C3 C5 E5 E52 E55 E63 E66 E71 E72 E75 N78 N79 N8 N82 N85 8GB N86 N97 N97 mini N900 X2 X3 X3 02 Touch and Type X6 16GB X6

2,100 2,050 2,300 2,250 2,075 2,450 2,700 4,500 4,400 4,950 5,200 6,900 7,500 12,900 9,600 3,100 8,300 10,400 13,600 13,600 11,500 12,400 14,900 17,200 17,200 23,000 22,000 12,000 17,900 10,800 11,300 11,000 18,900 17,800 20,300 19,800 15,200 18,800 8,550 10,750 11,000 14,000 13,200 3,000 11,500 14,200 21,300 21,200 23,000 16,800 20,000 21,300 27,500 24,000 19,800 26,300 40,000 26,000 22,800 31,500 39,000 33,000 37,000 9,400 12,000 15,900 28,000 48,000

Sony Ericsson T303 T707 W302 W380i W350i W395 W595 W705 W980 W902 W995 F305 S302 C510 C901 C902i C903 C905 G502 G700 Aino Jalou U100 Yari Satio Idou Xperia X1 Xperia X10

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 30,800 17,300 18,700 38,700 33,000 47,000

Samsung B130 B220 Guru B300 B3210 CorbyTXT B3410 B3410W Chat WIFI B5722 B7300 OMNIALite B7320 Omnia PRO Guru B100 E1080 E1100 E1125 E2125 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 C3200 Monte Bar 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 S8500 Wave I900 Omnia i5700 Galaxy Spica i8000 Omnia II i8510 INNOV8 i8910 Omnia HD i9000 Galaxy S 16GB

2,050 3,900 3,600 8,700 9,500 13,400 15,400 24,000 19,200 2,450 2,200 2,450 3,200 6,050 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 6,900 7,300 7,600 8,800 9,800 7,900 10,600 10,800 11,000 12,300 12,000 14,500 15,600 15,500 21,000 22,100 24,000 28,200 29,900 42,500 25,000 49,500 37,000 43,700 49,000

BlackBerry Bold 9000 Curve 8900 Peral Flip 8220 Pearl 8120 Curve 8310

33,000 30,900 30,000 27,000 29,000

QMobile Q3i E900

5,999 6,999

NOTE: Always visit your local shop for the exact Mobile phone prices.

Technology Galore in 2010 Electric cars arrive, and solar, batteries, biofuels, and engines all advance. Apple invented a new category of mobile device, consumers want faster connections, and the spectrum is more crowded than ever. New ways to feed our need for computing speed, novel controllers for our gadgets, and scary security risks all appeared in 2010. Secrets are flying online, both state and personal, and Internet companies are still looking for ways to make money on applications—or with users' private data.

Ali Zhoraiz Jaffri The Year in Energy At the end of 2010, GM and Nissan introduced their long-awaited electric cars, the plug-in hybrid Chevrolet Volt and the all-electric Nissan Leaf. If these are successful, they could bring sweeping changes to the automobile industry, which has relied almost exclusively on petroleum to power its cars. But whether electric vehicles become popular depends on improving the technology, especially by developing better batteries.

Better Batteries T h e Volt and the Leaf use advanced lithium-ion batteries that the automakers calculate will last many times longer than the batteries in your laptop.

But they're expensive, and the distance they can power a car is limited. In the near term, better electrodes that store more energy using less material could help, such as the silicon ones Panasonic is rolling out. And a new test could allow researchers to quickly sort through combinations of electrodes and electrolytes to find ones that will last for the life of a car.

Over the long term, novel battery chemistries such as lithium-sulfur offer potentially much greater energy storage at a lower cost than lithiumion batteries. And a new approach that uses fluid electrodes rather than solid ones could help break through the energy storage limits that make it hard for electric cars to compete with gas-powered ones.

Cheaper Solar Power In many parts of the country, electric cars will essentially be coal-powered, running on electricity generated by the fossil fuel. Electric power is highly efficient, so they will emit less carbon dioxide than conventional cars. But if electric cars are to achieve their true potential for reducing pollution, they will need to use more renewable energy.

Solar power saw significant advances this year, as conventional-solar-panel makers cuts costs and improved efficiency and laboratories rolled out advanced prototypes. China was a big part of the story, as its manufacturers refined their designs.

In the United States, government loan guarantees helped increase investment in solar technology, including by thin-film-solar makers such as Abound Solar. It is not clear, however, what will happen to federally supported industries when the money from the 2009 stimulus bill runs out .

Funding from the new Advanced Research Projects Agency for Energy is being used to find cheaper ways to manufacture conventional silicon solar panels .

Meanwhile, laboratories made prototypes of potentially ultra-efficient new kinds of solar panels. Nanostructures help solar panels absorb light, increasing their power output by 30 percent or more. Researchers are finding ways around the inherent physical limitations of semiconductors, demonstrating in a prototype solar cell an effect that allows photons to generate multiple electrons.

This approach could increase solar power output by 50 percent. A novel approach that uses both heat and light from the sun to make electricity could potentially double the output of solar panels.

The Year in Mobile Apple invented a new category of mobile device, consumers want faster connections, and the spectrum is more crowded than ever.

Insanely Popular Companies have introduced tablet computers before, but the technology never took off until 2010, with Apple's launch of its iPad in April. The device runs the operating system that Apple uses for its smart phones but has much more computing

power. It's lighter than a laptop and less capable, but consumers love it all the same. The technology research firm ABI Research has predicted that Apple would sell up to 12 million of the devices by year's end.

The key to the success of the device is its easy connectivity. Though Apple offers a Wi-Fi-only version of the iPad, the 3G device is the star. It contains little in the way of new technology, but it has integrated existing technologies to create a compelling mobile-computing experience.

Other companies scrambled to keep up. Early products based on Google's competing mobile operating system, Android, were disappointing. By September, larger companies such as Samsung were in the game, making credible efforts to compete.

Regardless of which devices fail or succeed, the tablet craze has forced Web developers to adapt websites so that they can be easily accessed by mobile devices, which often lack keyboards and have relatively unreliable connections.

Working Better As most service providers introduced usagebased pricing plans for fast 3G connections, Wi-Fi became important as a supplementary way to pull down data on a device. But connecting to a Wi-Fi access point uses up power quickly, and researchers have sought fixes that could extend battery life. In fact, cell-phone antennas are a battery drain no matter what they connect to. New antenna designs could work better, reduce dropped calls, and extend battery life.

Meanwhile, service providers such as Sprint and Verizon began to roll out faster 4G networks, aiming to meet the ever-increasing demand for data.

To solve problems common to many cell phones, however, some researchers and companies believe they need to do more monitoring to get a better idea of how people use their phones and where exactly the problems lie. AT&T, for example, is mining data from Twitter . And researchers are testing software that tracks every action on a phone to gather data about battery drains and dead spots.

Tracking Devices Not all tracking is intended to improve service to consumers. Cell phones already provide wireless companies with a trove of location data that can be used to determine people's habits. This analysis could lead to targeted advertising and yield more sophisticated information on when and how local businesses become popular. Companies are also seeking marketing insights from the social networks that calling habits reveal.

That's only the beginning of what could be done with data mined from cell phones. Academics and industry professionals alike are looking to phones not only for information to help them with advertising and marketing but also to learn about commuting habits, how far people are willing to travel to public events, and social trends. The information is perceived to be so valuable that some are looking into enhancing cell phones' ability to track location indoors.

Widening the Spectrum The uses for mobile devices continue to multiply, and as a result, the connectivity they need is increasingly difficult to come by. Increasing numbers of devices and applications are competing for a limited and heavily regulated amount of bandwidth.

Researchers are looking for ways to access more of the spectrum and more efficient ways to use what's available. One approach is to use "white spaces"—unused patches of the spectrum.. But

there could be problems with this approach.

Researchers have found that not all locations have the same amount of available white space, complicating plans to rely on this method to scrounge up more bandwidth. So companies continue to test ways to cram more signals into the increasingly crowded portions of the spectrum already in use.

The Year in Computing New ways to feed our need for computing speed, novel controllers for our gadgets, and scary security risks all appeared in 2010.

The last 12 months changed the shape and definition of computers, which no longer necessarily involve a keyboard, a monitor, and a mouse. Apple started the year by launching its tablet , which soon spawned many imitators. Google started the year by showing off the most powerful smart phone yet and ended it with a personal computer that relies entirely on the Web, by way of Chrome OS .

Another new category of computers grew out of the industry's obsession with adding computing power to television. Google's ambitious but troubled effort joined a more established apps-for-TV scheme from Yahoo and a stripped-down entrant from Apple. All put Web-streamed content and social networking at the heart of their strategies, trying to connect living-room viewing with online friends .

The new kinds of computers required new kinds of controls.

2010 saw enhancements to touch technology, such as a way to simulate the sensation of texture on a flat screen and a more powerful version of the laptop track pad. New physical interfaces were also introduced, such as Microsoft's technology for gestural control and a prototype device that the user controls by tapping a forearm. More speculative projects showed that it's possible to control a cell phone with your eyes or brain.

All these innovations were made possible by continuing advances in the power and compactness of computer components. One route that both Intel and IBM explored was to try to overcome the limitations of electricity by developing computers that run on light instead. Another radical idea, realized by a startup, was to create chips that work with probabilities, not 1s and 0s, an approach that could speed cryptography and other statistical calculations.

The Year in Web Secrets are flying online, both state and personal, a n d Internet companies are still looking for ways to make money on applications—or with users' private data.

Spies and the Internet The year started off with revelations from Google that China was attacking the Web giant's corporate infrastructure. The company said, among other things, that the attackers went after Gmail accounts belonging to Chinese human-rights activists, and that 20 other large companies had also been targeted.

That was the first of many examples of how the Internet is changing the way secrets are being kept

and revealed. In April, researchers from the Citizen Lab at the Munk School of Global Affairs detailed how over the course of several months social sites helped hackers steal classified documents from the Indian government.

But the name that became synonymous with sharing secret information was Julian Assange's Wikileaks. In the summer, U.S. officials were still probing for the source of 91,000 war documents that the site had posted. At the end of the year, the site began to release a trove of more than 250,000 diplomatic cables. U.S. officials called for the site to be shut down, triggering a series of back-andforth denial-of-service attacks by the site's detractors and supporters.

The Year in Enhancing Reality 3-D and augmented reality made it big in 2010—with a few pitfalls.

2010 saw an explosion of 3-D products for consumers and also the arrival of augmented reality as a mainstream technology. In both areas, however, only some commercial implementations proved ready for prime time.

3-D TVs, Cameras, and Camcorders Galore 3-D was a hot topic at the start of the year, partly because of the 3D blockbuster

movie Avatar, which came out last December.

Many predicted that 3-D technology would move quickly from the movie theater into the home, and major electronics companies including Panasonic, Mitsubishi, Sony, Philips, and Toshiba announced plans to release 3-D televisions and Blu-ray players. But obstacles—particularly the need to wear 3-D glasses costing upwards of $100 per pair and the limited amount of 3-D content available to watch —have prevented 3-D TVs from becoming wildly popular, at least for now .

In an effort to make the technology more enticing, some companies are developing glasses-free 3-D displays. Each lens in a pair of 3-D glasses filters a different image, which fools the brain into responding as if to a three-dimensional image. To ditch the glasses, the display has to produce alternating images very rapidly, and the user has to sit in just the right place relative to the screen. While most people would prefer not to have to wear 3-D glasses, few will be happy with this constraint.

Fortunately, Microsoft has figured out a way around the problem—a screen that detects the viewer's position and shows different images to each eye. Although it's still in the research stages, the technology will allow one or two people to see a 3-D image on a screen, regardless of where in the room they are sitting.

Glasses-free 3-D technology may be more suitable for handheld devices, whose users typically view the screen from a particular position anyway.

The first phone featuring this type of 3-D tech was released this year. Nintendo sees a different market for it: last January, the company announced plans to release a glasses-free 3-D gaming system , potentially as early as next year.

A few researchers are looking into the possible side effects of viewing 3-D. A small number of moviegoers complain of headaches or eye strain after watching 3-D movies, and some scientists argue that viewing 3-D—which, after all, tricks the brain into seeing something that's not there—is responsible. But more research is needed.

Latest Gadgets Panasonic AG AF100 video recording

iPad Alarm Clock Yeah, when it comes to docks, Apple devices are certainly king of the hill, what with a ton of iPod touch, iPhone and even now, iPad docks arriving to flood the market and help you part with your hard earned money. The iPad Alarm Clock is one of the later models to arrive, where this docking station will turn your iPad into a versatile bedside alarm clock.

Are you looking to be a budding filmmaker, and have the ambition to be one of the top movie makers when you grow up? Well, if that is the case and the answer is in a definite affirmative category, then you might be interested to know that AG AF100 camcorder, making professional micro 4/3-inch video camcorder For those of you out there who still can- that have been specially optimized for not get enough of stereoscopic 3D movies high-definition video recording. and would love to enjoy a similar cinematic experience at home, then the Mitsubishi Diamond 3D projector is definitely your cup of tea. Of course, if you’re going to attend CES 2011 like the Coolest Gadgets team is, then you would be more than happy to drop by Mitsubishi’s booth to see the Diamond 3D projector in action – bring along some Kleenex to wipe away all that drool just in case.

Mitsubishi Diamond 3D projector

Ring Socket Power Plug I’m sure that all of us are or at least should be trying to conserve power as much as possible. I’ve discovered how easy it is to save a few bucks every month by unplugging my television and computer before I go to sleep. This Ring Socket product is another way of conserving power by having the user set a pre-determined hour when the power goes off.

Archos 7 Home Tablet sees with 800MHz CPU The Archos 7 Home Tablet was something of a disappointment, and Archos has shipped bigger and better things since, but the firm isn't done with the original affordable Android slate quite yet.We've confirmed with Archos that a "v2" revision is now shipping in Europe with three things the original lacked -- an accelerometer, a relatively recent version of Android (2.1) and an 800MHz Rockchip CPU.

7

Sunday, January 2, 2011

FDA to review growth hormone safety, follows EU WASHINGTON: US health officials are taking a closer look at recombinant human growth hormone products made by Pfizer, Novartis and other drugmakers to see whether they increase the risk of death.

The move comes on the heels of a French study that found certain children given the hormone had "a small increased risk of death" compared with the overall population, the Food and Drug Administration said in a statement on Wednesday.

The move affects: Pfizer Inc's Genotropin, Eli Lilly & Co's Humatrope, Novo Nordisk A/S' Norditropin, Roche's NutropinAQ, Novartis AG generics unit Sandoz's Omnitrope, EMD Serono's Saizen, and Teva

Pharmaceutical Industries Ltd TevTropin.

Known chemically as somatropin, recombinant human growth hormone is an injectable protein that aims to stimulate tissue growth, height and metabolism, according to the FDA. It is used to treat a variety of conditions, including short stature in children and adults, Turner syndrome, and chronic renal insufficiency, the agency said.

FDA said it was reviewing the information on the possible risk and would issue any new recommendations once it completed its review.

"At this time, FDA recommends that patients continue their recombinant human growth hormone

treatment as prescribed by their healthcare provider," it said.

Earlier this month, European officials said they would review the drugs following the French findings but that safety was not an immediate concern.

The French review, known as the Sante Adulte GH Enfant (SAGhE) study, began in 2007 and analyzed about 7,000 children who began taking the hormone drug between 1985 and 1996, according to European officials. It has not yet been published.

The study found a 30 percent increase in death in those patients, FDA said. Ninety-three patients taking the hormone died compared with 70 people in the general population in France. -Reuters

Abbott recalls diabetes test strips in US WASHINGTON: Abbott Laboratories is recalling as many as 359 million blood glucose testing strips that could give false results to diabetics, the company and US regulators said.

Abbott said the strips -- used with its Precision Xtra, Precision Xceed Pro, MediSense Optium, Optium, OptiumEZ and ReliOn Ultima glucose monitoring systems -- should not be used and would be replaced at no cost.

The company said it expects little financial impact from the recall.

The move is not expected to impact the company's previously issued earnings estimate for 2010, company spokesman Scott Davies told Reuters. He added that the

No #1

systems affected by the recall make up less than 5 percent of the U.S. market for glucose testing systems.

Shares of Abbott ended down 0.33 percent at $47.84 on the New York Stock Exchange on Wednesday, compared with a 0.1 percent rise of the Arca Pharmaceutical Index.

In a statement, Abbott said it uncovered the problem after a routine internal review found that certain lots of the strips took too long to absorb the blood from a patient's finger, which could lead to inaccurate low readings of their blood sugar levels.

That could cause patients to try to boost their blood sugar unnecessarily, it said.

Continued from page 1

According to the sources, MQM has handed over a list of its demands to interior minister Rehman Malik which will be sent to President Asif Ali Zardari for his approval.

However Raza Haroon, provincial minister from MQM while talking to media men here Saturday outside Bilawal house neither confirmed nor contradicted the reports about the list of demand.

"If Rehman Malik says MQM has presented its demands to the government then only Rehman Malik can tell about it", he held.

Responding to a question he said MQM had taken action about resigning from ministries. However only coordination committee would take decision about rejoining cabinet or other wise, he added. "We are people who harbor good hopes and want to maintain policy of reconciliation", he remarked.

Raza Haroon said he had not met President Asif Ali Zardari on Saturday. I was invited to 19th amendment signing ceremony and MQM participated in the ceremony, he added.

Talking to journalists, interior minister Rehman Malik said peaceful protest was right of every one. Ulema from across the country cooperated with the police, he told.

There is friendship between Asif Ali Zardari and Altaf Bhai, he said adding good working relationship is prevailing between MQM and PPP and both the parties will go side by side. Report about reservations of MQM has been framed and it will be presented to the president on Sunday, he stated.

Government has no intention to amend blasphemy law, he said adding every legislator can table bill in the house. -Online

No #2

Continued from page 1

early completion of transparent process for the appointment of a permanent managing director at the exchange. It was agreed by the KSE board members that the functions of internal audit and market surveillance at the exchange would remain in place.

Further, the board members assured their cooperation and commitment in managing the affairs of the exchange in the best interest of the market and to promote transparency and integrity.

The SECP chairman reassured the participants that the regulator would continue to work in close coordination with the exchanges and play a facilitating role for the development of capital markets and enhancing investors' confidence. -APP

No #3

Continued from page 1

The Minister briefed the delegation regarding the turnaround plan for PR and informed that through equity related instrument fund raising for PR without selling any asset and on the basis of asset based security, was in accordance with the President Asif Ali Zardari and the Prime Minister Yousaf Raza Gilani's instructions to strengthen the PSEs to make them functional and enhance their productivity while protecting the jobs and the worker's rights. A meeting of the management and workers would soon be convened to reach at a consensus for making joint efforts for making improvements in PR, he added. CBA PREM Union Secretary General Ishtiaq Ahmed Aasi urged the need to have competent professionals in an important institution like PR as the institution have been ruined and made loss making by inefficient non professional officials and the corruption. The PR employees would extend full support to the government, without any opposition in every such step, which was designed for the betterment of the institution, however, there was a need to further understand the concept and to establish an atmosphere of understanding, he said. -Online

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Continued from page 1

officer of the Indian High Commission in Islamabad at the Foreign Office at 1100 hrs (PST).

The Indian side handed over their list to an officer of the Pakistan High Commission at the Ministry of External Affairs in New Delhi at 1130 hrs (IST). -Agencies

Continued from page 1

The U.S. Food and Drug Administration, in a separate statement, said it was working with Abbott on the recall.

"FDA and Abbott are reviewing the cause of the manufacturing defect to avoid this problem in the future," Alberto Gutierrez, head of FDA's Office of In Vitro Diagnostics, said in a statement.

Affected strips were made between January and May and sold both to consumers and healthcare facilities, the FDA said, adding that exposure of the strips to heat or prolonged storage could also be an issue.

Abbott added that the monitoring systems themselves are not affected by the recall. -Reuters

Teva, Takeda in deal to settle Actos patent suit NEW YORK: Teva Pharmaceutical Industries Ltd said on Tuesday it had reached a deal with Japanese drugmaker Takeda Pharmaceutical Co that settles their patent infringement litigation over Takeda's widely used diabetes drug Actos.

Under the settlement, Takeda has granted Teva a license to market an authorized generic version of Actos in the United States beginning on Aug. 17, 2012, or earlier under certain circumstances, Teva said.

The settlement also allows Israel-based Teva a license to market an authorized generic version of Takeda's Actosplus met, which combines Actos with two other common diabetes medicines, in the United States beginning Dec. 14, 2012.

The two brand products had combined annual sales of about $4 billion in the United States, according to sales data compiled by IMS Health.

Takeda in April announced settlements of lawsuits against six other companies seeking to market cheap generic versions of Actos and Actosplus met.

As part of those settlements, the Japanese drugmaker granted licenses to also begin selling generic Actos on Aug. 17, 2012 to Mylan Inc, Watson Pharmaceuticals Inc and India's Ranbaxy Laboratories Ltd. Takeda, whose Actos patents expire in 2016, said late on Tuesday its timeline to begin selling Actos remained on track and said it would not affect its October forecast for fiscal 2010 consolidated results. -Reuters

LONDON: Dutch Princess Maxima talks to Raul Kohan, CEO of Global Animal Health of German pharmaceutical group Merck . -Reuters

saying they would protest the attacks in the National Assembly must unanimously pass the accountability bill hence forth to plug the leakages and holes in the economy, he noted. and then ignore them. -Agencies The government has laid the foundation for a transparent judicial system by unanimously Continued from page 1 No #7 passing 19th Amendment from the Parliament and thus addressed all the reservations raised of the bar council to have at least 15 years of experience for by the Supreme Court and other stakeholders. He said the leadership has the proven mettle and appointment to the Judicial Council. ability to steer the country out of trouble in tough times. Law Minister Babar Awan has said steps President while addressing the gathering on the occasion said, have been taken with regard to judicial commission in line with the reference sent by the Supreme "Law and lawyers were used against MQM, PPP and other parties.

But we did not keep in view these things. Political actors are suf- Court to the parliament after 19th amendment has been signed.

Earlier, while talking to journalists outside Bilawal House, he underlined 19th amendment had fering defeat."

Certain elements tried to sell negative view point like agro prod- now become part of the constitution. Law minister held the powers for appointment of ad hoc judges ucts, he said adding they were of the view clash would take place had been delegated to judicial commission with becoming 19th amendment part of the constitution.

He told chief justice of Islamabad High Court (IHC) would take oath In Governor House on among the institutions and political parties would not become able to forge harmony among them. But it did not happen so, he held. January, 3 and IHC would start working from January, 4. Four aspects had been addressed in Amendments had been introduced in the constitution earlier but 19th amendment, he pointed out.-Agencies they could not work, he underlined. 1973 constitution was acceptContinued from page 8 No #10 able to all because it was consensus constitution. The 18th and necessary components of transaction record may include: customer's name (beneficiary's name), 19th amendments were also consensus amendments, he held.

"I ask the friends not to stay in headlines and keep the look on address, nature and date of transaction, type and amount of transaction, currency involved, type and history. We are keeping look at history. We have to write a lesson identification of any account involved in the transaction.

It may be mentioned that the Prudential Regulations for MFBs were previously silent on the record for coming generations and show them path. I salute to judiciary.

We have always honored courts. We have kept rule of law retention requirements.

Therefore, the PR 17 of MFBs has been strengthened to include clear instructions on the minimum supreme", president underscored. period for retention of 'identification record' and 'transaction record' in line with national and inter"We have taken Pakistan ahead in hard times. We will take along all parties in the years ahead. If any thing will not be accept- national practices, as a step towards strengthening Anti-Money Laundering/Combating Financing able to any party we will not allow it to be bulldozed. Despite Terrorism regulations for MFBs. The Circular said MFBs shall, however, retain records for longer period, if required by any other being in majority we will try consensus is developed and all the law or where transactions and/ or relationship relate to any investigation, litigation or required by parties go alongside us", he remarked.

Chairman Senate Farooq H Naik, Speaker National Assembly the Court of law or by any other competent authority.

The identification and transactions record should be made available to SBP as and when required, Fehmida Mirza, Governor Sindh Ishrat-ul Ebad, Chief Minister Sindh Qaim Ali Shah, Law Minister Babar Awan, Senator Raza the Circular added.-Agencies Rabbani, provincial minister, MQM leaders and others attended Continued from page 8 No #11 the ceremony. diplomatic cables depicted him as chummy with the US and was quoted as discussing a possible Continued from page 8 No #8 removal of Pakistan's president and his preferred replacement.

Later, it issued a second statement saying that another service The two countries' "frames of reference" regarding regional security "can never be the same," he member had died "following an insurgent attack". That death also said, according to news accounts. Calling Pakistan America's "most bullied ally," Kayani said that came in volatile southern Afghanistan, the heart of the conflict the "real aim of US strategy is to denuclearise Pakistan", the Post said. where Taliban insurgents are strongest.

Pakistan is in drastic need of a foreign policy paradigm shift as they continue to cling to a postIn 2010, a total of 711 international troops were killed in nuclear variation of "strategic depth" at their own peril; because Pakistan's geopolitical rivalry with Afghanistan, according to independent website iCasualties -- the India will become irrelevant if the state is devoured from within by extremists. highest annual death toll since the war began in 2001. -APP "Kayani needs to wake up and realise that internal extremists are a bigger existential threat than India right now. Pakistan can no longer afford to nurture home-grown groups nor can they afford the Continued from page 8 No #9 establishment of a terrorist state next door."

Dr Babar Awan asked the law officers to give honest opinIf Afghanistan should fall to the Taliban, Pakistan will never be able to effectively address its own ions as state property worth billions of rupees and lives of extremist problem. people were at their disposal. "You are representing the state Ultimately, the last thing Pakistan needs to see is the Haqqani Network or any version of the so your prime concern is not to please everybody. It is to proTaliban in power next door, the newspaper said. -Online tect the interest of the country, the province and the deprived people," he said.

Continued from page 8 No #12 He said he knew that how the state property was squandered A 3-member bench led by CJP would hear the cases including breach in embankment during the due to weak preparation or non-preparation for cases and floods, casualties in car race and sale and purchase of shares of British petroleum. lethargic attitude of the law officers. In this regard, he had A larger bench of SC led by Justice Mehmood Akhtar Siddiqui will take up PCO judges' contempt received a lot of complaints from the quarters concerned, he of court case for hearing. The other cases are Mukhtara Mai, privatization of HBL, fake police said. "You get the respect and money from the nation to plead encounters, constitutional petitions against NAB ordinance and 11 missing prisoners case.-Agencies and contest those cases (in the courts) with a proper preparaContinued from page 8 tion to look after the interest of your government, your counNo #13 try and the province" he added. He said a complaint cell had FIA has also obtained the record of quota of tour operators to carry the investigation forward. -Online been set up in the Law Ministry headed by a Grade 20 officer Continued from page 8 No #14 to address the complaints.

Thar Coal, and we have gone in a big way, as several companies are working on this vital project.

The Law Minister regretted that lot of complaints had been Talking to media at the end of the ceremony, he said, though Rental Power Plants (RPPs) are received against law officers. "You need to improve the level expensive source of energy than IPPs and hydel power generation, these are better than the nonof assistance," he opined.

He advised the law officers to adhere to the basic principles availability of energy, which ultimately hamper country's industry and other important sectors.

To a question, the minister said that various power projects have by and large delayed from their of excellence in case preparation and maintained that most of the objections and reservations of the courts are justified as commissioning date (CoD) mainly due to terrorism and poor law and order situation. The projects, inithey (law officers) do not put in the required labour in the tiated in year 2002-03 and had to complete in 2007, could not commissioned even Saturday, he added.

He said, the government had convened experts meeting, where they gave a road-map for eliminacases. He asked them to refrain from ad-hocism and feel their tion of load-shedding, which could not be ended because of invisible delays and obstacles. -APP responsibility.

No #5 Dr Awan observed that present government has introduced legislation about electricity and management would rest with an impartial accountability process and for the first time sitfederal government.-Agencies ting ministers are appearing before the courts and presenting themselves for their accountability. This is a paradigm shift, Continued from page 1 No #6 The Pakistani government has publicly condemned drone he noted.

He called upon political parties to come forward and strive attacks, but cables released by WikiLeaks recently revealed that Prime Minister Yousaf Raza Gilani had allowed drone strikes, for a law which is based on justice and not victimization. We

No #15

Continued from page 8

cooperation should be promoted actively.

"It also repeated that its top priority to remove all nuclear weapons from the Korean peninsula.

Two months ago, North Korea revealed advanced efforts to enrich uranium, alarming regional powers because it could offer it a second way to make nuclear weapons-grade material."

North is consistent in its stand and will to achieve peace in Northeast Asia and denuclearization of the whole of the Korean peninsula," the joint editorial said. -Online

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ANP, MQM, JI unite against fuel price increase

POL price hike draws public ire Staff Reporter / Agencies

LAHORE: Federal Minister for Water and Power Raja Parvez Ashraf being briefed about the pruject after inaugurating 100KV Reshma Power Plant at Raiwind.-APP

Ashraf switches on 201MW power plant LAHORE: Federal Minister for Water and Power, Raja Pervaiz Ashraf inaugurated the 201MW Reshma Power Plant, currently contributing 40MW as test generation to the national grid, at Raiwind near here Saturday.

Addressing the inaugural ceremony, the Minister said that energy is the greatest challenge to the present democratic government, which it inherited by previous regime. The utter failure of the past government is manifested from the fact that it did not add even a single mega watt to the national grid, thus widening the power supply and

demand gap in the country, he added.

Raja Pervaiz resolved, "We have to surmount this difficulty by giving a road-map to pull the country out energy crises."

He cited that present government has under taken various mega hydel power projects, an inexpensive means of energy, including Neelum-Jhelum Power Station, Diamir-Bhasha Dam, Dasoo Dam, Bunji Dam and hydel project at Kohala.

Since the hydel power projects require eight to nine years for completion, he said, the government has initiated a number of projects of alternate and

renewable energy resources to narrow down the electricity demand-generation gap to keep industrial wheel on moving.

He said, the PPP-led coalition government has also put the non-functional or dysfunctional Independent Power Producers (IPPs) on 'fast track' to ensure their smooth generation. "So far, we have managed to add 1800MW to the main power system through these initiatives," he maintained.

Unlike previous regime, he added, "Our government has taken initiative to get optimum benefit from the treasure of See # 14 Page 7

Millions still await post-flood help: UN UNITED NATIONS: Millions of Pakistanis are still in need of assistance as they recover from the floods that inundated large portions of the country during one of its most challenging years, two senior UN officials stated.

"With an estimated 20 million people affected by devastating floods, the country faced its biggest ever humanitarian crisis," Rauf Engin Soysal, the Secretary-General's Special Envoy for Assistance to Pakistan, and UN Resident Coordinator Timo Pakkala said in a joint message.

"Millions of Pakistanis still require relief assistance and full

recovery of livelihoods and infrastructure will take years," they added.

The floods that began in late July affected some 20 million people across the provinces of Khyber Pakhtunkhwa, Sindh, Punjab and Balochistan, and damaged schools, health centres, important infrastructure such as sanitation systems, bridges and roads, and destroyed croplands.

Earlier this month UN humanitarian chief Valerie Amos urged the international community to provide the resources needed to help those in need of vital assistance.

There is a continuing need for

a strong financial response and I want to see attention focused on this immense human tragedy, she told reporters following her second visit to the country since the disaster.

"This is an emergency which will continue for months to come, and considerable relief efforts will continue to be necessary alongside recovery activities and development work," she added.

The $2 billion appeal for aid for Pakistani flood victims made in September, the largestever launched by the UN and its partners for a natural disaster, is currently 51 per cent funded. -APP

NKorea calls for end to enmity with South SEOUL: North Korea on Saturday called for an end to confrontation with the South, urging dialogue after one of the most violent years on the divided peninsula since the 1950-53 Korean War. Tension between the rival Koreas has risen sharply after the North shelled an island in the South near their disputed sea border, killing four including two civilian residents.

And in March, the South blamed Pyongyang for torpedoing one of its navy ships, killing 46 sailors.

The North denies the charge.

Confrontation between north and south should be defused as early as possible," the three main official North Korean newspapers including Rodong Sinmun said in a joint editorial carried by state news agency KCNA. "Active efforts should be made to create an atmosphere

of dialogue and cooperation between north and south by placing the common interests of the nation above anything else."Conspicuously absent from the 6,000-word New Year editorial was any specific proposal for talks.

It largely repeated the wording from a New Year editorial 12 months ago, saying: "National reconciliation and See # 15 Page 7

SC forms 6 benches ISLAMABAD: As many as 6 benches of Supreme Court (SC) have been constituted to hear the cases during the period from January 3 to 7 while a special bench under the Chief Justice of Pakistan (CJP) has been constituted to hear case of alleged corruption in Hajj operation.

According to private TV channel, all the judges will hear the cases at principal seat of Islamabad after two weeks.

A 7-member bench will hear the case on January, 6 on alleged corruption in Hajj operation.

The court had expressed dissatisfaction over the report presented in previous hearing of Hajj corruption case and issued directives for presenting the report again.

See # 12 Page 7

Tajik envoy calls on Kayani RAWALPINDI: Ambassador of Tajikistan Dr Zubaydullo N Zubaydov called on Chief of Army Staff (COAS) General Ashfaq Parvez Kayani at the General Headquarters here on Saturday.

The visiting dignitary remained with him for some time and discussed the matters of mutual interest, said a press release. -APP

FIA tightens noose around Kazmi ISLAMABAD: Federal Investigative Agency (FIA) has obtained the ban account record of former federal minister for religious affairs Hamid Saeed Kazmi and his family.

FIA Investigative teams have also obtained key evidences from Makkah and Jeddah.

Statements of owners of certain buildings obtained on rent for Hajj Pilgrims have also been presented before a magistrate.

According to media reports proof of involvement of state minister Shagufta Jumani has also been obtained. FIA has so far arrested former DG Rao Shakeel, Joint Secretary Raja Aftab and brother in law of Hamid Saeed Kazmi Abdullah Khokhar.

See # 13 Page 7

ISLAMABAD/KARACHI: Awami National Party (ANP) and the Pakistan Muslim League-Nawaz (PML-N) rejected the hike in prices of petroleum products Saturday and presented adjournment motions in the Senate and the National Assembly, television reports said.

An adjournment motion was presented by the ANP, the government's coalition partner. The motion said that the measure would burden the people, and called on the government to review its decision.

According to one report, the PML-N also tabled an adjournment motion against the petroleum price hike.

The PML-N's motion stated that the government led by the Pakistan Peoples Party (PPP), which chants slogans of providing the people with bread, cloth and shelter, was depriving people from their right to live.

The motion also called for a debate on the matter in the parliament.

Meanwhile, the increase in prices of petroleum products has drawn stern reaction from people who see it as another factor to cause price hike in coming days.

People said that the government was not caring enough for the problems of common man.

They said instead of increasing petroleum prices, the government should have cut its own expenditure through austerity.

They added that people across the world were celebrating New Year while in Pakistan the government, by increasing the POL prices, has added the miseries of common man.

People of Karachi termed the hike in petroleum prices as economic murder. They demanded of the government to withdraw the decision of price hike or raise the salaries.

In their reaction, the people of Lahore said that it seemed

Govt working for good governance

Awan hints at legal reforms KARACHI: Federal Law Minister Dr Babar Awan said Saturday that major changes would take place in the Law Department as part of the government's policy for good governance in the country.

He was addressing the provincial law officers at Sindh Assembly building here. Sindh Law Minister Ayaz Soomro, CM Advisor on Information Sharmila Farooqui, Secretary

Law Ghulam Nabi Shah, Advocate General Abdul Fatah Malik and Prosecutor General Shahadat Awan were also present on the occasion.

He said that the government had decided to bring in major changes in the country, including the federal cabinet and the Law Department was no exception. "We need to take difficult decisions for good governance", he added.

See # 9 Page 7

that they would against commute on bicycle, adding that instead of providing relief to the masses, their problems were being increased.

People in twin cities of Rawalpindi and Islamabad also expressed concern over surge in petroleum prices as they are already suffering from huge prices of the basic commodities of daily life.

"This surge in POL price is another bomb shell for the commoners who are already living hand to mouth due to high inflation", said Aasia who is a primary teacher in a government school. Thousands of passengers travel daily between Rawalpindi and Islamabad by public transport and now this surge in POL prices will affect them a lot.

In Peshawar, Quetta and other cities people strongly condemned the fresh POL price hike, while transporters have convened emergency meetings in this regard.

Two Nato soldiers killed KABUL: Two foreign soldiers were killed on Saturday in Afghanistan, coalition forces said, in the year's first deaths among NATO-led foreign forces after the war's highestever annual death toll in 2010.

"An International Security Assistance Force (ISAF) service member died following an improvised explosive device attack in southern Afghanistan Saturday," the NATO-led ISAF said in a statement, without giving further information in line with policy.

See # 8 Page 7

SBP amends MFBs record-saving rules KARACHI: The State Bank of Pakistan has amended Prudential Regulation No 17 for Microfinance Banks (MFBs) with immediate effect to introduce minimum requirements to maintain records of transactions and identification data in a systematic manner.

According to a Circular (MFD Circular No 1) issued

here Saturday, MFBs shall keep record on the identification data obtained through the Customer Due Diligence (CDD) process, account files and business correspondence for at least five years following the termination of the business relationship.

Moreover, MFBs shall also maintain all necessary records on transactions, both domestic

and International, for at least five years following completion of the transaction.

Such record must be sufficient for reconstruction of individual transactions so as to provide, if necessary, evidence for investigation or prosecution of criminal activity, the Circular said, added examples of the See # 10 Page 7

Kayani rejects USA pleas for NWA onset WASHINGTON: Pakistani Army Chief General Ashfaq Kayani will not eliminate insurgents' safe havens within his country where Taliban and al Qaeda elements launch attacks from against coalition troops in Afghanistan, according to the Washington Post, because he doesn't trust US motivations and is hedging his bets for when America's strategy fails.

Recent US intelligence has validated this premise as Kayani refused to budge despite personal appeals from

President Obama, General David Petraeus and other US military leaders and diplomats.

Kayani's rationale is based on many factors.

He is hesitant to launch attacks against terrorist sanctuaries because it could incite domestic terrorism and uproot local communities. Plus, antiAmerican sentiments run high throughout Pakistan, and launching an offensive into North Waziristan would cost the military public support.

Kayani is believed to be the

most powerful man in Pakistan - more powerful than even the president and prime minister and many have suggested that, if he ever wished, he could easily execute a coup and seize complete control of the country.

Kayani says he is worried about the end game in the region while the US is worried about the next drone strike in North Waziristan.

Kayani has been furious with Americans lately because of the recent WikiLeaks fiasco, as See # 11 Page 7

US stocks enter 2011 with two-year highs NEW YORK: US stocks enter 2011 at two-year highs, facing a crucial reading next week on the health of the US economy: the monthly unemployment and job creation data.

"From all indications available, the year should begin well," said Gregori Volokhine, at Meeschaert Capital Markets.

"There are real signs that monetary policy and fiscal policy are having an effect on the economy," the analyst said.

"There's a wave of optimism which began in the markets several months ago and which

now is being reinforced by macroeconomic numbers."

Over the past week, the Dow Jones Industrial Average barely budged, slipping 0.03 percent to close Friday at 11,577.51 points.

The tech-rich NASDAQ dropped 0.48 percent to 2,652.87 points while the Standard & Poor's 500 index, a broad measure of the market, added 0.07 percent at 1,257.64 points.

The blue-chip Dow index, which gained 11.02 percent in 2010, added more than 5.0 per-

cent in December alone. On Wednesday it finished at its highest level since August 2008.

"Investors will probably look back on this December as one to remember," said Frederic Dickson at DA Davidson & Co. "Big year-end rallies often fizzle out shortly after the beginning of a new calendar year," Dickson cautioned.

"While we believe the economic landscape will continue to support higher stock prices in 2011, the market now appears technically extended

from a longer-term perspective."

The final week of 2010 was marked by extremely thin volumes. Traditionally quiet because of the Christmas and New Year holidays, this year's lull was even deeper after a blizzard along the East Coast kept many traders away from their offices.

Trading sessions were listless and final results were weak.

The Dow, for example, slipped 0.14 percent Thursday, despite three positive US economic indicators: new claims for job-

less insurance benefits fell to their lowest level in two and a half years last week, pending home sales unexpectedly rose in November, and the Chicago ISM index showed manufacturing activity at its fastest pace in more than 20 years.

"A lot of investors are waiting for the new year to see what the December employment report looks like and to wait until the fourth-quarter earnings reports start to be released," said Hugh Johnson of Hugh Johnson Advisors.

Stocks face a calendar crammed with economic

releases, capped Friday by the closely watched unemployment and job creation report.

The labor data in previous months has been grim, leaving the unemployment rate near 10 percent as the economy struggles to recover from recession.

"That's going to be the test," said Volokhine. "This number needs to confirm that the jobs market is improving." Among other economic numbers slated are construction spending and the ISM manufacturing index on Monday, industrial orders Tuesday and the ISM services

index Wednesday.

The Federal Reserve is set to publish the minutes of its last policy-setting meeting Tuesday.

"With low interest rates, improving economic data and healthy projected earnings growth, the outlook for 2011 is relatively bullish," Briefing.com analysts said in a client note.

"Although broad market valuation remains reasonable, with stocks at two-year highs, sentiment near a bullish extreme and several macro risks still in the picture, it may be a bumpy ride again in 2011."-Agencies

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