International Karachi, Sunday, December 5, 2010, Zil Hajj 28, Price Rs12 Pages 8
Marri inaugurates 2nd Indonesian Expo $16.74bn 14.17% $7.17bn $12.25bn $(5.08)bn $(533)mn $3.50bn $569mn Rs 411bn $58.41bn Rs 4863bn $203.80mn -2.58% 4.10% $1,051 171.21mn
Foreign Debt (Sep 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Oct 10) LSM Growth (Sep 10)
GDP Growth FY10E Per Capita Income FY10 Population SCRA(U.S $ in million)
163.65 0.92 1.07 3796
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See on Page 8
France backs Delhi’s civil N-programme
See on Page 8
‘WoT cannot be won without Pak help’
NCCPL FIPI (3-Dec-2010) Local Companies (3-Dec-2010) Banks / DFI (3-Dec-2010) Mutual Funds (3-Dec-2010) NBFC (3-Dec-2010) Local Investors (3-Dec-2010) Other Organization (3-Dec-2010)
Isb seeks to treble trade with Colombo
Gilani, Karzai vow to expand two-way ties
Portfolio Investment Yearly(Jul, 2010 up to 2-Dec-2010) Monthly(Nov, 2010 up to 2-Dec-2010) Daily (2-Dec-2010)
See on Page 8
Pak wishes peace, stabiliy in Afghanistan: PM
Economic Indicators Forex Reserves (27-Nov-10) Inflation CPI% (Jul 10-Oct 10) Exports (Jul 10-Oct 10) Imports (Jul 10-Oct 10) Trade Balance (Jul 10-Oct 10) Current A/C (Jul 10- Oct 10) Remittances (Jul 10-Oct 10) Foreign Invest (Jul 10-Oct 10) Revenue (Jul 10-Oct 10)
Pak urges to rewrite global fiscal system
KABUL: Afghan President Hamid Karzai and Prime Minister Syed Yousuf Raza Gilani addressing the joint press conference at Presidential Palace.-APP
COAS holds all leaders in esteem: ISPR
Pak Army backs political process ISLAMABAD: Pakistan's military backs the country's civilian leadership, its spokesman said Saturday, after leaked US diplomatic cables highlighted the army's might in the politically turbulent country. A March 12, 2009 cable by former American ambassador to Pakistan Anne Patterson released by WikiLeaks shows the army's influence in the nuclear-armed nation seen as vital to the United States' war against militancy. Patterson had been meeting Army Chief General Ashfaq Kayani during a political crisis in which a long-march planned by lawyers could have threat-
ened President Asif Ali Zardari's government. According to the dispatch, Kayani hinted again that he might have to persuade Zardari to resign "if the situation sharply deteriorates." "The army has a demonstrated policy of supporting the political process within the confines of the constitution of Pakistan," said military spokesman Major General Athar Abbas, in what he referred to as a response to queries about the cables. Although the United States supports democracy in Pakistan, it has no illusions about who runs the country. See # 11 Page 7
Shaikh computes Pak flood loss at $10bn
No RGST without consensus: Shaikh KARACHI: Federal Minister for Finance Abdul Hafiz Shaikh has said that the country cannot progress without broadening the tax net in the country. Addressing the convocation of Karachi Institute of Business Management (IBA), the federal minister said that wealthy people did not want to pay the tax while one third of the total population is lying below the poverty line. He said that government is facing severe crises however these crises would lead the country towards development.
Abdul Hafiz Shaikh said that the country's economy bore more than $10 billion loss in the recent torrent flooding across the country. He further said that education and health are priorities of the government however the incumbent is working to increase the literacy in the country. Meanwhile, Abdul Hafiz Shaikh said that the Reformed General Sales Tax (RGST) would not be imposed till all the consensus of all political parties. -APP
FO assures to trace out Fakhri's son ISLAMABAD: Foreign Office spokesman Abdul Basit while acknowledging the slackness and flaws in the methodology for tracing missing son of Jamil Fakhri has said his son will soon be located, adding foreign minister and foreign secretary have taken notice of this incident. See # 7 Page 7
Justice Iqbal named for IHC CJ ISLAMABAD: The Judicial Commission meeting, chaired by Chief justice Iftikhar Muhammad Chaudhry recommended a one-year extension for three judges of the Balochistan High Court (BHC) on Saturday. See # 8 Page 7
India allows Pak body to probe Kasab NEW DELHI: India on Saturday allowed Pakistan to send a judicial commission for recording statements of Ajmal Kasab and others relating to the Mumbai Attacks probe. The hearing for the Mumbai attacks case resumed at an anti terrorism court in Rawalpindi, where the public prosecutor presented a report. See # 9 Page 7
WikiLeaks
Leaks battles to stay alive l Musharraf wanted technocrats' govt l US unwilling to see Iftikhar as CJ l Quetta Shura not exist: Brig Sajjad l Isb shared 26/11 info with Delhi
LONDON/ISLAMABAD: WikiLeaks was battling to stay online on Saturday after Sweden issued a new arrest warrant for its elusive boss Julian Assange, while PayPal axed donations access for the whistleblowing website. The Times newspaper, citing police sources, reported that Assange -- who is believed to be in Britain -- could be arrested next week. Across in Stockholm, Swedish prosecutors have issued a new international arrest warrant for Assange on sex assault allegations that incorporated missing elements which had
been requested by British police. Meanwhile, Leaks continue to expose hidden cables regarding world political affairs. WikiLeaks revealed: Former president Pervez Musharraf wanted to replace the elected government with a set up of technocrats, according to another cable leaked by WikiLeaks website. The cable from US embassy in Islamabad was sent to Washington on July 25, 2008. According to cable, Musharraf, in view of weakening relations between Nawaz Sharif and Asif Zardari, was certain that the two will part
ways and in that case, Zardari will fall in need of new allies to keep its majority from falling. Prime Minister Yousuf Raza Gilani and Zardari were not prepared to work with Musharraf, the cable sent by then ambassador in Islamabad Ann W. Patterson said. Pakistan agreed to share information with India on the 2008 attacks in Mumbai, cables released by Wikileaks have revealed. The information is contained in a 2009 cable from US Ambassador to Pakistan Anne Patterson. See # 10 Page 7
KABUL: Prime Minister Syed Yousuf Raza Gilani Saturday again made it clear that Pakistan has paid a heavy price in war against terrorism urging Pakistan is a firm supporter of strong and stable Afghanistan. We wish Afghanistan peace so that we ourselves are at peace. We do not harbor any desire beyond that. Pakistan's only desire is to see stability, peace and development in Afghanistan; these views were expressed by Prime Minister Syed Yousuf Raza Gilani in a one-one meeting with Afghan President Hamid Karzai at the Presidential Palace. PM after the meeting in a joint press conference with Hamid Karzai said that the two countries were committed to the full implementation of the new Afghanistan-Pakistan Transit Trade Agreement as it would create new economic and trade opportunities.
He said that Pakistan and Afghanistan should jointly endeavor to establish transregional corridors for communication, transportation, trade and energy. Prime Minister Gilani said, "Pakistan wishes to be a close partner in the progress and prosperity of Afghanistan". He added that despite resource constraints, Pakistan was eager to contribute to the socio-economic development of Afghanistan. Gilani said peace and prosperity of the two countries could only be ensured through economic development. He said the two countries had immense resources and potential. "We must manage ourselves better and enable our talented people to actualize their remarkable genius. We must jointly endeavor to build each other's economic strength."
He said," as immediate neighbors, the two live together and have suffered together. And now we must together carve out a future for our people." Gilani said that he believed in a future where the inherent potential and ingenuity of the two peoples propelled the two countries and regions into a new era of shared development and shared prosperity. "We can do this together," he said and pointed out that the Afghan brothers had suffered from turmoil of three decades. "They need respite. Afghanistan's stability and peace is our own and vice-aversa. A stable and prosperous Afghanistan is a guarantee for regional and global peace." He said that regional countries, especially Afghanistan's immediate neighbors had a responsibility towards that country. See # 6 Page 7
BB Murder Case:
Arrest warrants of SP, CPO issued KARACHI: The AntiTerrorist Court has issued non-bailable arrest warrants against former police chief of Rawalpindi Saud Aziz and former SP Rawal Town Khurram Shahzad in the Benazir Bhutto murder case, media reported.
The court has summoned Aziz and Shahzad to appear in the case's upcoming hearing on December 11. The lawyer representing the two had earlier requested the court to absolve his clients from appearing in court. The lawyer had argued that
since Aziz and Shahzad were declared innocent during a previous FIA investigation, the court could excuse them from appearing. The court however rejected the application and issued nonbailable arrest warrants for the Aziz and Shahzad. -Agencies
2 Dr Hafeez attends IoBM convocation Staff Reporter KARACHI: Federal Finance Minister Dr Hafeez Shaikh, and Dr Javaid R Laghari, Chairman HEC attended the Convocation 2010 of the Institute of Business Management (IoBM) in Korangi Creek, Karachi. As many as about 700 degrees were conferred in business management and allied disciplines at the Convocation. Dr Hafiz Shaikh said that with the unity of purpose the nation has been able to face many challenges positively and practically. He referred to the nation uniting amid recent devastating floods in Pakistan and the catastrophic earthquake that shook the country not long ago. There are many challenges posed to the national economy which are being confronted with the unity of purpose. Such human interest challenges are being positively addressed as those pertaining to education, health and drinking water. Exports in October 2010 have arisen by 30 per cent as compared to October 2009. He added that higher education was a privilege and that it is time for graduates to blend excelling in work or business with public service. He urged upon the graduates to emulate humility and to begin with self when it comes to transformation for the better. Dr. Laghari highlighted the need for quality enhancement in education. He commended the role of IoBM in this regard. He underlined the need for Ph D level specialisation in education.
Sunday, December 5, 2010
Marri inaugurates Indonesian solo expo
ICMAP’s council polls today
tions between Pakistan and Indonesia, adding that both countries have very strong brotherly relations. "An aspect of Indonesia reflected by this exhibition is that it has a very diverse but unified culture," she remarked. The Indonesian ambassador said that the purpose of the exhibition was to enhance relations between Pakistan and Indonesia. "Along with exploring Pakistani tourism markets for Indonesia, we want to portray the real image of Pakistan, which is quite different from what a part of international media is portraying," he added. More than 400 ethnic groups live in Indonesia but
DECEMBER: The polling to elect the members of the Branch Councils of the Institute of Cost and Management Accountants of Pakistan (ICMAP) will be held today. The Election for the Branch Councils held annually to elect five members. The Seven Branch Councils of ICMAP are namely Karachi, Lahore, Islamabad, Faisalabad, Multan, Peshawar and Quetta to promote the profession of Management Accounting in their respective counsils.-PR
Staff Reporter KARACHI: Sindh Minister Shazia Marri and Indonesian Ambassador to Pakistan Ishak Latuconsina inaugurated the 2nd Indonesian Solo Exhibition at a beach luxury hotel. The Republic of Indonesia Karachi Consulate is holding the two-day exhibition. The Exhibition provided the opportunity to the businessmen of both the countries to explore the possibilities of entering new markets with a long-term vision of gaining economic prosperity. Appreciating the efforts of the Indonesian Consulate, Marri said the beautiful event would help boost rela-
KARACHI: Sindh Minister Shazia Marri and Indonesian Ambassador to Pakistan Ishak Latuconsina inaugurating the 2nd Indonesian Solo Exhibition at Local hotel.-Staff Phot
Govt should focus on SMEs growth: ICCI
ISLAMABAD: Small and Medium Enterprises (SME) sector should be supported through relaxation in taxes and financial assistance, said Mahfooz Elahi, President of Islamabad Chamber of Commerce and Industry (ICCI), addressing a business community here on Saturday. Elahi said that the SME development was a key to KARACHI: Sindh Home economic growth and had Department has banned the entry of 99 Ulema in the province during Muharram-ul-Harram. According to an announcement by the Department issued on Saturday, the Ulema Staff Correspondent include: 49 from the province of Punjab, 42 L A H O R E : from Khyber Entrepreneurship is engine PakhtunKhwa and 8 from of growth for Pakistan's Balochistan. economic development and In addition, the Home to sustain progress, the peoDepartment has restricted ple need to be encouraged the movement of at least 19 and trained to think out-ofUlema of the province to the-box and be constantly other provinces. They developing innovative prodinclude 5 from East Zone, ucts and services. 2 from West Zone, 2 from This was the crux of the South zone and 1 from speeches delivered at Hyderabad region, and 9 of Pakistan Entrepreneurship Sukkur region.-APP Summit 2010 jointly organ-
99 Ulema banned to enter Sindh
all of them have one motherland and are united, he said. Marri along with Latuconsina visited various stalls at the exhibition. Indonesian children also performed a traditional dance of the Indonesian Sumatra province. Besides, a Photo display was also very nicely arranged by Indonesian Consulate, which afresh the memories of the distinguished guests this revealed the Indonesia and Pakistan very old brotherly relationship and support. The Indonesian traditional music was also presented through the Exhibition which has made the event more colorful and delightful.
great significance in the development of economy. He said that SMEs are considered the engine of economic growth in both developed and developing countries. The country's SMEs are still unable to achieve their maximum potential and are in dire need of `hand-holding' and business support services. He said that in the industrial development of a country, the importance of
the SME sector cannot be neglected. SMEs constitute nearly 90 per cent of all the enterprises in Pakistan, employ 80 per cent of the non-agricultural labor force and their share in the annual GDP is 40 per cent, approximately. However, unlike large enterprises in the formal sector, a small and medium enterprise is constrained by financial and other resources.-NNI
LCCI holds economic progress summit 2010 ised by the Lahore Chamber of Commerce and Industry (LCCI) and IGNITE. The LCCI President Shahzad Ali Malik was the Chief Guest while the Chief Executive Officer Bank Alfalah Sirajuddin Aziz was the Guest of Honor. The other key speakers included CEO SMEDA Anwaar A Khan, CEO TUSDEC Sohail Ahmad Khan, Chairman Pakistan Tobacco Moeen Afzal, CEO SR Consultants Dr Shahid Raza, Rector
UMT Hassan Sohaib Murad, CEO Bank Islami Hassan A Bilgrami, Dr Aamir Matin, CEO CISCO, Amer Qureshi, Business Advisor, Possibilities and Chairman Skill Development Council Pakistan Rehmatullah Javaid. The Summit was aimed at accelerating the economic activity in the country that has gone down due multiple internal and external challenges.
KARACHI: Participants dance as they celebrate Sindh Culture Day, in Karachi. - Online
PTA, PHMA to protest against RGST KARACHI: Khurshid Alam, Chairman, Pakistan Tanners Association (PTA) endorsed the decision of Pakistan Hosiery Manufacturers Association (PHMA), which has been supported by Lahore Chambers of Commerce & Industry for the peaceful "Protest Walk" from Lahore Chamber's Office to Governor House, Lahore proposed to be made on 11th December, if the Government withdraw zero rating facility by imposing Reformed General Sales Tax (RGST) & Flood Surcharge. Khurshid Alam, Chairman, Pakistan Tanners Association also stated in a press statement that Pakistan Tanners Association, which is recognized Trade Body in Pakistan representing the conglomeration of genuine Manufacturers & Exporters of Finished Leather of all sorts and contributes 5 per cent to the country's GDP is presently enjoying zero rating facility may also join the peaceful "Protest Walk" on proposed date against the imposition of RGST & Flood Surcharge, which would hopefully this time yield the desired objectives to convey the deep resentment of the business community to the Government of Pakistan to the proposed impositions, which are undoubtedly harmful to the Leather Industry too. The Chairman, PTA, Mr. Khurshid Alam articulated that Rs12 Billion of Leather Sector would stuck up in tax refund money under export rebate, which is at present around 1 per cent and it seems well nigh impossible in the existing mechanism that FBR could smoothly release GST refunds. To meet this shortfall in working capital, exporters/entrepreneurs would proceed to Bank for financing its export for which mark-up rate itself is on a parallel rise.
Dr Fehmida lauds Sindh Cultural Day KARACHI: Speaker National Assembly Dr Fehmida Mirza on Saturday appreciated Sindh government for observing Sindh Cultural Day and said this reflects the aspirations of people of the province. She was talking to the media at the inauguration of first Global Halal Congress here. This culture dates back to 5,000 years, she noted. Responding to a question about price hike, she said that the inflation and recession were the world phenomena and their solutions lies in the global coordinated efforts. However, the federal and provincial gov-
ernments are taking solid steps to control price hike, she added. She said that Pakistan will host a conference of Speakers of the Parliaments of the Commonwealth countries in Islamabad in 2012. This conference is held on the wishes of Commonwealth and support of Prime Minister Syed Yusuf Raza Gilani. Replying to a query about the performance of NA standing committees, the Speaker said that all the 54 standing committees were working smoothly in their respective areas and their overall performance was appreciable.-APP
Qmobile unwraps ‘She’ phone in Pak M Imran Sharif KARACHI: Q Mobile has launched -the alluring, classy and stylish 'SHE' Q55 Phone, which stands as Pakistan's first mobile phone specially designed to meet the taste and trends of today's females. "SHE is much more than just a design & fashion phone," says Mian Zeeshan Akhtar, CEO QMobile. "Modern consumer buying trends are governed as much by emotion as by product specification and the QMobile "SHE" Q55 Phone impressively meets on both levels." An entirely unique, utterly desirable and yet affordable mobile phone that
serves the extensive purpose of looks and features. "SHE" is Enlightened with Swarovski Element and exciting features including one-touch access to Facebook, multi-instant Messenger, a smart 2MP Camera and preloaded Opera mini browser. The "SHE" Q55 Phone is also loaded with Dual SIM GSM-Dual-Band and comes with a 2.4 inch (6 cm) QVGA display with a full QWERTY keypad giving it a sturdy feel when handled. Additionally, the "She" Q55 Phone has a multi format (MP3 / AMR / MIDI 1 WAV) music player with Stereo FM Radio and Bluetooth.
KARACHI: On the 83rd birthday of Udom Sapito Consul General of Thailand, he and his wife held a reception held at Karachi recently. Seen in the picture is Yahya Polani, Chairman Travel Agents Association of Pakistan along with the guests.-Staff Photo
TV PROGRAMMES SUNDAY Time Programmes 7:00 News 8:00 News 9:05 I Samaa (Rpt) 9:30 Taxi News (Rpt) 10:10 The Reema Show (Rpt) 11:10 Naram Garam (Rpt) 12:00 News 13:10 Faisla Aap Ka (Rpt) 14:10 The Anchor (Rpt) 15:00 News 16:00 News 17:00 News 18:00 News 19:05 I Samaa 19:30 Mutasareen 20:05 The Reema Show 21:00 News 22:03 Faisla Aap Ka 23:05 Tafteesh
SUNDAY Time Programmes 8:00 Pakista this week(Rpt) 8:30 Music Scene 10:00 Smithsonian Documentry 11:00 Uff Tv(Rpt) 11:30 Dilkash Pakistan (Rpt) 12:05 Kamyab (Rpt) 13:05 Agenda 360 (Rpt) 14:00 News 15:00 Mang Raha Hay Pakistan (Rpt) 16:00 News 16:05 Pakistan This Week (Rpt) 16:30 Dilkash Pakistan (Rpt) 17:05 Kamyab (Rpt) 18:00 News 18:30 Uff Tv(Rpt) 19:05 Sara Jahan 19:30 Red Carpet 20:05 Filmi Samaa 20:30 Munafa Khor Hoshiyar 21:00 News 21:05 Badalta pakistan 22:00 News 22:05 Agenda 360 23:00 Amnay Samany 0:00 News
3
Sunday, December 5, 2010
Electricity & Light in One Chip
Mobile Prices Updated on 4 December, 2010
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.
S
ilicon chips with both optical and electrical circuits could eliminate a bottleneck limiting supercomputer speeds. Today's computer chips are chunks of silicon that use electrical pulses to crunch data. But IBM researchers are now making chips for tomorrow: chunks of silicon that also contain pathways for light pulses. These optical circuits can exchange information with the conventional, electronic circuits in the same chip. This could transport data inside a computer significantly faster, because light signals can transport larger quantities of data at higher speeds than convention-
al copper electrical wiring can. A chip could use its opticalphotonic-circuits for highspeed input and output. "We need faster ways to shuttle information around," says Solomon Assefa, a member of the research team at IBM's Watson Research Center in Yorktown, New York. "Our main motivation is to build, in five years or so, exascale systems that will be 1,000 times faster than what we have now." Today's supercomputers are dubbed "petascale" because their power is measured in petaflops, or quadrillions of floating-point operations per second. The U.S. Department of Energy has urged the devel-
opment of machines capable of exaflops-quintillions of operations per second-to enable more powerful simulationbased research into climate change and renewable and nuclear energy. Over the past seven years, IBM's researchers have developed a chain of individual silicon components that together can convert a chip's electrical signals into light signals and back again. Now they've found a way to build all of those components on the same chip without inhibiting the transistors' performance, using the standard complementary metaloxide semiconductor (CMOS) techniques used to build processors and other chips today. Now that this goal has been achieved in the lab, says Assefa, "the next step is to transfer this to a commercial fab, like those making chips today." Although the technology is not expected to be marketready for around five years, IBM is keen to test its techniques on the production equipment for which they are designed. This is a significant advance, says Bahram Jalali, a professor of electrical engineering at the
University of California, Los Angeles, who helped kick-start silicon photonics when he developed the first silicon laser in 2004. "Integration with CMOS is a very difficult thing that has been a vision of many in the field for some time," he says. BM's technology can be more compact than either of these, says Assefa. "We're integrating on the same chip as the electronics, using the same piece of silicon, for both transistors and photonics," he says. "That means we're able to make much finer features and build the much denser and power-efficient structures needed to target future high-end systems." IBM's technology can fit a photonic transceiver-able to send and receive optical signals-into a space 10 times smaller than has been demonstrated before. That's possible using new designs of photonic components that can be made at the same stage in the CMOS process in which transistors are etched, when lithography techniques precise to just tens of nanometers can be used. But it required some creative thinking to allow optical and electronic components to be built side by side.
Branson scoops Murdoch with digital magazine
Motorola eyes home streaming to mobile V M
otorola Mobility plans next year to sell a product that lets consumers stream video to mobile devices such as tablet computers and cellphones in their home, a top executive for the company said on Wednesday. The product, announced at the Reuters Global Media Summit, will be showcased at the Consumer Electronics show right after Motorola Inc (MOT.N) spins off Motorola Mobility, which includes its settop box and cellphone business, from the rest of the company on January 4. Daniel Moloney, president of Motorola Mobility, sees the offering as a first step in his efforts to combine settop box and cellphone technology to eventually allow consumers to view any content anywhere on different devices in the next five years. "It's one consumer proposition that will come sooner rather than later," Moloney told the Reuters Global Media Summit on Wednesday. While much of the technology already exists for such offerings, one thorny issue is for equipment makers or operators to forge agreements with programing
providers for the right to let consumers carry content around. This is why the streaming product will initially only send video to devices being used within the home. Moving content outside the
home could take much longer, Moloney said. And after being sold a separate gadget, to be offered via service providers, the home streaming product will eventually be integrated into set-top boxes, the executive said. While Moloney said it would be up to service providers whether to charge an extra service fee for the device or not, they could offer it as a way to discourage higher-value customers
from switching to another service. The Home subsidiary, which includes set-top boxes and cable network equipment, represented almost a third of Motorola Mobility sales in the third quarter with revenue of $912 million compared with $2 billion in revenue from cellphones. Moloney said he sees Motorola Mobility generating operating profits in an 8 to 12 percent range in the next three to five years. While the Home business already had a profit margin of 8.4 percent and an operating profit of $77 million in the third quarter, the cellphone business only just turned a tiny profit of $3 million in the quarter for the first time in almost three years. This gave it a profit margin of 0.1 percent. But Moloney said that both parts of the business have to reach the 8 to 12 percent range under the plan. Motorola Mobility and will trade under the MMI ticker on New York Stock Exchange after the split. The rest of Motorola, which sells technology to governments and corporations, will change its name to Motorola Solutions and will trade under the MSI symbol, also on NYSE.
irgin founder Richard Branson rolled out his iPad-only magazine Tuesday by declaring: "The future of publishing lies in apps not on shelves." "The world has moved on in many, many ways since Johnny (Gems) and myself launched Student," said Branson. "It's the first truly digital magazine about creative people for creative people," Branson told reporters gathered at a press conference at Manhattan's Crosby Street Hotel. The first issue of Project has about 100 "pages" of content. But it will not be static content, said editor Anthony Noguera. "It will change daily, even hourly," he added, with enabled links on each page. Created by Virgin Group and U.K. publisher Seven Squared, Project is available for $2.99 per issue.
Acer sees shortages as smartphone demand surprises A surge in demand for the latest smartphones has taken the industry by surprise and left it facing a shortage in the key end-of-year holiday sales season, a chief of Acer's cellphone unit said. "The industry as a whole is struggling with supply. It is a
one million phones this year, giving it market share of less than half a percent, de Lencquesaing said. It aims to reach 6 percent of the market in 2014, which would mean selling 30 million smartphones. Acer said it was looking to
bit of a scramble," Aymar de Lencquesaing told Reuters in an interview on Thursday. Research firms have ramped up forecasts for 2010 smartphone sales and now expect the market to double from a year ago. The fast sales growth is causing shortages of components, with manufacturers scrambling for parts such as phone screens. Acer, the world's secondlargest PC vendor, entered the smartphone industry last year. It will sell "a little bit under"
use other software platforms in its phones alongside Google's Android system. "We like to look at open operating systems in this market -- then you have to look at Android, you have to look at Windows Phone 7 and you have to look at MeeGo," de Lencquesaing said. "We will probably again have Windows Phones, under Windows Phone 7. There is room for more than one operating system."
Strawberry picking robot from Japan e have seen a lot of amazing robots from Japan, and today we have another robot from this amazing country. Unlike other robots that can walk, talk or even sing, this one can pick
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In order to pick the strawberry, this robot scans it with two cameras and if the strawberry is 80% red it picks it up. This entire process takes only about 9 seconds, which is great. This robot will be perfect and it will defi-
strawberries. Although this robot doesn't look like human at all, it's one of the most advanced robots that can help humans and make their work even easier.
nitely speed up the strawberry picking process, because it takes 500 hours for humans to pick the strawberries from 1,000sqm field, while this robot can complete this in just 300 hours.
Amazon, eBay, Google going local
A
mazon.com and eBay Inc are investing in local Internet services, jumping aboard the increasingly popular and lucrative business of catering to local shoppers and stores. Amazon, the world's largest online retailer, plans to invest $175 million in online coupon company LivingSocial, while e-commerce giant eBay is buying Milo.com, which lets users see if items they seek are available on local store shelves. The Internet's biggest players are now setting their signs on the booming business of local
services, whether through daily deals -- the fastest-growing segment on Web commerce by some estimates -- or a neighborhood-shopping search engine. Google Inc is reportedly eager to buy local coupon site Groupon for as much as $6 billion, eyeing a local advertising market estimated to exceed $90 billion this year. Shares of eBay gained 2.2 percent, while those of smaller local-services site Local.com rose 27 percent. "It's local mania," said BGC Partners analyst Colin Gillis. "People are taking strategic
positions in this marketplace. That's what's happening." LivingSocial also secured an $8 million investment from Lightspeed Venture Partners. It said it is now booking revenue of more than $1 million a day on average and expects well over $500 million in 2011. Local deals are "the most exciting, fastest-growing category of e-commerce right now," said Jeremy Liew, a managing director at Lightspeed. "They are not afraid to place big bets on where they see the future of the Internet going," he added of Amazon.
Latest Gadgets Barbie is now a pink software engineer
Floppy turn into USB flash drive
TagCandy creates a virtual taste explosion
The makers of Barbie think that they do. Henceforth, they have come up with Barbie that styles to be a software engineer and carries an iPhone. The pink version of the newly styled software engineer carries a cute looking pink laptop which is loaded with some kind of custom Barbie operating system.
In the earlier days of computers, 5.25-inch and 3.5-inch floppy disks were only way of transferring data since there were no CDs, DVDs, and USB devices for file transfer. It seems that floppy disks are returning as a medium for file transferring, at least as mods.
TagCandy device built by Yasuaki Kakehi of Keio University. As you can see above, it consists of a rather large base that accommodates a regular lollipop, which not only makes it easy to hold the candy, but uses bone-conduction technology to produce different sounds ranging from fizzy soda to fireworks.
Geeky Lego made Master Chief helmet This may not be the safest helmet to wear on a Halloween night but haven't we said it before? Lego can create anything your imagination takes you! This Master Chief helmet from the Halo series is completely built of Lego bricks except for the visor and from a distance away.
Enjoy internet radio while driving A new gadget introduce that will provide your car with internet radio. Although you won't be able to enjoy in real time internet radio with 42000 Station Car Radio, you'll be able to record content from over 42 000 internet radio stations for later playback in your car. This device has 2GB of storage space, and although 2GB seem bet modest, you'll be able to store 45 hours of internet radio on it.
4 Sunday, December 5, 2010
The Financial Daily International
The worst enemies of Karachi
Vol 4, Issue 117
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA
S. Muneer Hussain Rizvi
Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Akhtar M. Zaidi, FCA
Prof. Zakaria Sajid (KU)
Dr. A. Hadi Shahid, FCA
Zahid Bukhari SVP HBL (retd)
Muhammad Arif
Ismat Sabir Head office
111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-5311893-6 Fax: 92-21-5388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com
Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com
Shifting focus from core problems Ever since the details of leaked cables have started appearing in the local media, all seems to be carried away and each one seeing the details with colored glasses. While the masses strongly believe that it is a temporary phenomenon, all will be over without changing the prevailing scenario, it is also evident that details are being used as mudslinging tool. It is necessary to remind the policy-planners that the country is still stuck in negotiations with the International Monetary Fund. It seems certain that various new taxes will be imposed on already squeezed-tax-payers and the elites will continue to enjoy all sorts of exemption and evasions. The country continues to witness extensive load-shedding of gas. Ogra may have deferred hike in POL prices for a fortnight but at the time of next review the hike will be substantial, simply because price of crude oil is on the rise in the international markets. Wheat sowing should have been at its full swing now because the government had fixed the production target of 25 million tonnes. With the woes of the farmers far from over, achieving the target seems pretty difficult. Hike in fertiliser prices, particularly DAP type will not allow the farmers to apply appropriate dosage of various nutrients, which would certainly affect the yield. Farmers face water shortage soon after devastating floods, mainly because of damaged irrigation system. Ironically, water courses have not been rebuilt as yet and the worst sufferers are small farmers and those having lands at the tail end. One could still see pictures of displaced persons living in tents. They do not have money and implements to plough the farms. Though, the central bank has initiated special financing schemes for the growers of canola and sunflower, unless the masses are told and documentation is completed speedily, the harvesting season will be soon over and farmers will not be able to benefit from such. It is a pleasant surprise for the residents of Karachi that there is no load-shedding in certain areas and remaining parts of the city have to endure less intensity. However, the real point of concern is what tariff will be charged by the utility company. Charging fuel adjustment surcharge retrospectively often give shocks to consumers. It is on record that during certain months the fuel adjustment surcharge increases manifold. Another point of concern is that flags are being hoisted by various political parties and groups in the city and some fatal clashes have been reported in certain areas. Is this the part of 'Karachi Hamara Hai' campaign?
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.
Polarisation, Pollution & Poverty Shabbir Kazmi
W
ithout being offensive to Pakistan Peoples Party one could not resist from referring to three ps making profound impact on the life of residents of Karachi. The three ps to watch are polarization, pollution and poverty. The city is often referred as sleeping volcano, which starts emitting fire on the smallest pretext. The real point of concern is presence of certain groups having vested interest and bent upon initiating rampage and carnage. Though, the residents have frustrated most of the attempts the rioters often succeed in disrupting the harmony. The most contentious issue is growing polarization among various ethnic and linguistic groups. Population of the mega city is estimated around 20 million as against officially stated figure of even less than half of these numbers. People belonging to different cast and creed, speaking different languages have succeeded in developing their con-
centrations. The two most prominent Pakistan temporarily. Some of them groups of aliens are Afghans are also trade in weapons and drugs. Bengalis (excluding those opting for Many of the culprits living in these Pakistan after the fall of Dacca) and areas commit crime in the adjoining other minor groups include Iranians, localities. Some of the areas of the city have become Tajiks, Africans dens and strongand even Many of the culprits holds and even the Arabs. Most of these living in these areas members of law enforcing agenpeople have commit crime in the cies are scared of e n t e r e d these Pakistan illeadjoining localities. entering areas. gally but have Illegal immia c q u i r e d Some of the areas of grants have also Pakistani the city have become emerged as notorinationality. Not only that they dens and strongholds ous land grabbers and are also have been living in Karachi and even the members responsible for the proliferation of for decades but of law enforcing Katchi Abadis, the are also marbiggest source of ried to the agencies are scared p o l l u t i o n . locals. All of them are not of entering these areas. Incidentally, they collide with transinvolved in port mafia in runillegal activities by some of them are not only ning highly depleted transport hardcore criminals but also hibernate throughout the city. Most of the external extremists seeking shelter in garbage collectors residing in these
areas also burn all sort of litter there, emitting highly toxic fumes. Karachi presents a contrast of living standards. While some of the residents are filthy rich others collect their eatables from the garbage. According to certain economist per capita income of the city is estimated as high as US$25,000 but most of the people live below the poverty line. The dearth as well as excess of money is responsible for the proliferation of crimes. Rich buy loyalty of people with money and any person with empty stomach is willing to commit any crime, from drug trafficking to assassination of innocent people. Analysis of Karachi's starting from UUSR attack on Afghan war shows proliferation of drug and arsenal culture. The culprits know that by paralyzing the city they can bring economic activities of the country at grinding halt. Let all Karachi residents understand that polarization, pollution and poverty are closely intertwined and let all of get rid of these as soon as possible.
Clinton charm falls flat with Iran minister U
S secretary of state had a rare chance to interact with Iran's foreign minister at a Bahrain security conference, which Clinton used to deliver a message to Tehran on the need to engage with the international community over its nuclear program at next week's talks in Geneva. But while Clinton's keynote speech from the podium directly addressed the Iranian team led by Foreign Minister Manouchehr Mottaki, her attempt at a more personal diplomacy with Mottaki fell distinctly flat. "I got up to leave and he was sitting a couple of seats down from me and shaking people's hands and he saw me and he stopped and began to turn away," Clinton told reporters on her plane returning to Washington on Saturday. "I said 'Hello, minister.' He just turned away."
Clinton's Bahrain speech on Friday came ahead of next week's Geneva meeting between Iran and six big powers the United States, France, Russia, Britain, China and Germany their first such encounter in more than a year. The big powers insist that the talks must focus on Iran's nuclear program, which they fear is aimed at producing nuclear weapons. Iranian officials have indicated that they are not eager to discuss their atomic work, which they say is entirely peaceful, leaving prospects for the Geneva meeting in doubt. Clinton said she hoped her speech -which described a clear choice for Iran on whether or not to rejoin the international community -- was aimed at setting the stage for the Geneva meeting and demonstrating that real dialogue was still possible. Her aim, she said, was "to
do it in a way that they couldn't claim
"We offer to engage, and still have an open door on engageMottaki, for one, didn't seem ment, but they've got to up in Geneva and destabilized in the least by show negotiate on the nuclear because it is Clinton's entreaties. While program causing legitimate conthe US secretary of state laid cern," Clinton said. "If they proceed it will be out her case for broader profoundly destabilizIranian engagement, Mottaki ing." Mottaki, for one, didconcentrated on his dinner n't seem destabilized in the least by Clinton's giving no sign that entreaties. While the US of state laid Washington's latest message secretary out her case for broader to Tehran had been heard Iranian engagement, Mottaki concentrated on his dinner giving no was accusatory, condemnatory, every- sign that Washington's latest message to thing that they always claim about us." Tehran had been heard. Reuters
UN Nuclear watchdog accused of sending spies I
ran accused the International Atomic Energy Agency (IAEA) on Saturday of sending spies from foreign intelligence services to the Islamic state, underlining worsening relations between Tehran and the UN atomic watchdog. Intelligence Minister Heydar Moslehi made the allegation two days before Iran is due to resume talks with world powers seeking to resolve a long-running row over Tehran's atomic work. "The IAEA has been sending spies working for foreign intelligence organizations among its inspectors, and it should be held responsible," Moslehi was quoted as saying by state broadcaster IRIB. He was referring to IAEA inspectors who visit Iran regularly to monitor its atomic activities. The IAEA had no immediate comment on the allegation. Moslehi repeated allegations that the intelligence services of Britain, the United States and Israel were behind the murder of an Iranian nuclear scientist this week, citing confessions from
those arrested by Iran over the case. The scientist, Majid Shahriyari, was killed in a bomb attack on his car on Monday. "This terrorist act was carried out by intelligence services such as the CIA,
considers those countries which had issued UN sanctions resolutions against Tehran accountable. A separate car bomb on Monday wounded another nuclear scientist, Fereydoun Abbasi-Davani, who is subject to UN
Ties between Iran and the IAEA have become increasingly strained under agency chief Yukiya Amano, who has taken a blunter approach toward the Iranian nuclear issue than his predecessor Mohamed ElBaradei Mossad and the MI6," said Moslehi. "A group that wanted to carry out a terrorist act but did not succeed, was also arrested. They confessed that they were trained by these intelligence services." NUCLEAR RIGHTS Iran has accused the United Nations of complicity in the attack and said it
sanctions because of what Western officials said is his involvement in suspected nuclear weapons research. "We consider responsible those who revealed the names of the Iranian nuclear scientists in the UN resolutions. They paved the way for this kind of assassination," Iranian
Foreign Minister Manouchehr Mottaki told a news conference in Manama. Ties between Iran and the IAEA have become increasingly strained under agency chief Yukiya Amano, who has taken a blunter approach toward the Iranian nuclear issue than his predecessor Mohamed ElBaradei. Iran has accused Amano of bias and ties soured further in June when he said Tehran was hampering IAEA work by barring some of its inspectors. Iran has agreed to meet with a representative of world powers in Geneva on December 6-7 but it has made clear it will not negotiate about its "nuclear rights," code for sensitive work the West suspects is aimed at developing an atomic arsenal. The powers the United States, Russia, China, France, Britain and Germany want Iran to curb its nuclear program, which Tehran says is for purely peaceful purposes. Reuters
At last something to cheer Pakistani squad at last gave the frustrated nation a news of glory by winning three gold medals in the Asian games. Indeed it is a great achievement and the whole team, management and officials deserves to be highly appreciated for making the nation proud. Government should also encourage our heroes of hockey, squash and women cricket team like the way they have encouraged cricket in the past. Large institutes should also think to sponsor these players as they are the true asset of our country.
Where is our finance minister? Pakistan is having its worst time ever. Financial turmoil is plaguing our country from all around. The energy crisis and inflation are at an all-time high. The number of people living below the poverty line is increasing by the day. Our finance minister is no where to be seen while all other ministers do their best to be in the news. Does our finance minister plan to take the nation into confidence over the current RGST issue? Or did he also take up this job just so it would look good on his CV? Itrat Fatima Department of Economics University of Karachi
5
Sunday, December 5, 2010
Five dangers your dentist never told you K
anye West may be the only person with sparkling teeth, these days. When the rapper showed off his diamond-encrusted grill on Ellen this week, it was like the halcyon days of 2003 all over again. Forget bedazzling, more than a quarter of Americans haven't even been for a dental check-up in a year, thanks to Medicaid cuts, unemployment and general belt-tightening. Even those who can afford dental procedures like veneers are requesting a more natural look-complete with dints, scratches and slight discolorations-- so as not to stand out from the crowd. So what's a man with a mouthful of diamonds got to do with us? We're both destroying our teeth without even knowing it. One dentist told the L.A. Times Kanye's pricey procedure is a bacteria breeding ground that may require thousands of dollars in surgery down the road. Diamonds are nothing compared to the beatings our mouths get every day. Brushing, flossing and avoiding sugary foods aren't enough to protect your teeth. In fact one of those things isn't always a good thing. Teeth jewelry is fairly obvious, but the following five dental destroyers may come as a surprise. Drinking sports drinks: A recent study from the University of Birmingham found that regular gulping down of sports drinks could lead to serious tooth erosion and infection. Researchers tested two unnamed drinks and found some can multiply enamel loss by 30. The culprit may be high levels of acidity that counteract your mouth's normal PH balance. Diet sodas with acidic chemicals like aspartame can also contribute to the wearing down of teeth. Even highly acidic juices made from oranges or grapefruits can lead to infection from erosion over time, especially if the drinks are swooshed around in the mouth a lot. If you're stuck on your soft drinks, Prevention Magazine suggests drinking through a straw positioned to the back of your mouth, to avoid direct contact with your teeth. Putting on lipstick: Beauty, but at what cost? Your smile. Makeup for your mouth that contains paraffin may erode tooth enamel, according to research from the University of Sao Paulo, Brazil. As the enamel erodes and paraffin turns the tooth porous, creating a harbor for bacteria to breed. The result: cavities, infections and cracks. And it only takes a few months of daily use to start manifesting results. But don't stop coloring your lips; just check the label for one of several paraffin-free lipsticks on the market. Eating a bagel: You may as well have that doughnut, because carb-heavy savory products aren't much better for your teeth. Once it breaks down into simple sugars it's all the same. Sugar causes bacteria and plaque. And plaque causes gum disease and painful cavities. The biggest problem with something like a bagel or crackers is that the gummy texture gets caught in the teeth and lodges there for long periods accumulating bacteria, according to Prevention Magazine. If you have to have your breakfast schmear, brush your teeth. If you had an everything bagel, consider it a community service. Brushing your teeth: Even the thing five our five dentists recommend can be a sore spot. Overuse and rough brushing is the number two cause of dental abrasion, according to the American Dental Association. The sandy, grinds in toothpaste designed to slough off bacteria can actually sandblast your teeth leaving them darker in appearance and feeling hypersensitive. Getting a brush with softer bristles and toothpaste for sensitive mouths can help curb the problem. Flicking your tongue: You'd think by now your teeth and tongue would get along. But many people are having mouth fights without even knowing it. The problem is tongue-thrusting, or the movement of your tongue when you swallow. If your tongue ends up pushing behind your front teeth, you could end up with buck teeth or a space in your smile. Since we swallow an average of 2000 times a day, you're repeating the action even when you don't know it. You may need to break the habit by retraining your tongue to hit the roof of your mouth instead. Meanwhile, people with tongue-pierces may have more to worry about. A case study published in the Journal of Clinical Orthodontics, found the piercing could cause spacing and teeth gaps over time. Simply flicking the metal ball against the top row of teeth can result in thousands of dollars worth of oral surgery.
HONOUR, DEVOTION & COMMITMENT
A Legacy Of The Father Of Pharmacy Farrukh Mahmood
D
r. S.M.S. Zoha was born in Bihar, India in 1925. He was an accomplished scholar with three Masters Degrees and two PhDs (one from Michigan, USA and the other from Manchester, UK). He patronized and designed the first Penicillin factory in Pakistan and was awarded the prestigious Tamgha-e-Imtiaz in 1971. He was the key figure in developing the Pharmacy Act of Pakistan and also ideogram & composed the syllabus of the Faculty of Pharmacy at Karachi University. Spreading his talents overseas, Dr. Zoha set up and led for 5 years the Faculty of Pharmacy in the University of Tripoli, Libya, where he was later honored by the Libyan Government. As the Dean of the Faculty of Pharmacy in Karachi University he touched the lives
of thousands of pharmacists. His fatherly approach and personal interest in his students empowered each one of them to soar to heights in their areas of expertise. He felt an obligation to each one of them and strived
to get them internships in various pharmaceutical companies and went out of his way to find them good jobs. Dr. Zoha nicknamed Baba-e-Pharmacy was undoubtedly one in million. A moving Encyclopedia of knowledge, always ready to
share and help others grow. A selfless, devoted and an unforgettable mentor. A man who showed dedication in everything he touched. Besides his professional life, he was a very pious man who connected with his Creator in Salat and often recited the complete Holy Quran in three days. Dr. S.M.S Zoha was unquestionably a legendary personality who had reached the zenith of brilliance and brought knowledge & happiness to millions. Unfortunately his time to depart came and his soul departed on 2nd Nov, 2010. He was 85 years of age. Inna Lillahe Wa Inna Elaihe Rajeoon. He will be long remembered for the meritorious services he rendered through out his lifetime! May God Almighty rest his departed soul in eternal peace and may he be blessed in Paradise. Ameen !
Fatter smokers gain more weight after quitting S
mokers who quit really do gain weight-especially if they are already obese, according to a new study that followed people for eight years after they first tried to give up smoking. "Someone may be at risk of much greater weight gain when they quit smoking the more overweight they are to start with," lead investigator Dr. Deborah Lycett, of the University of Birmingham in the U.K., told Reuters Health via email. But the findings should not discourage overweight or obese smokers from trying to quit, she added. "I think that being forewarned is forearmed," Lycett said. "If we know that there is a chance we might put on a significant amount of weight, we can prepare for that possibility, and be in a better frame of mind to deal with it, if it happens." Kicking the habit can clearly cause people to put on pounds, Lycett and her colleagues note in the journal Addiction, but few studies have assessed the relationship between a smoker's starting body mass index (BMI, a measure of weight in relation to height used to gauge obesity) at the time he or she quits, and the amount of weight they end up gaining. To investigate, Lycett and her team looked at 840 cigarette smokers who participated in a 12-week trial of the nicotine patch versus placebo in the 1990s. Over an eight-year follow-up period, eightyfive of them were confirmed to have been smoke-free since quitting during the patch trial, and were classified as abstainers. Most people-613 is in total-kept smoking throughout the 8 years. Another 26 had managed to stay off cigarettes for the first year of the study but then relapsed. And 116 people kept smoking through the first year of the study but had subsequently quit and were nonsmokers eight years
later. The researchers verified the subjects' abstinence at the end of the eight years by testing their breath for carbon monoxide or their saliva for the nicotine byproduct
cotinine. Nearly everyone, including the smokers, had gained some weight over the eight years, but those who had succeeded in quitting smoking put on significantly more. Just a quarter of them were at a healthy weight for their height, the researchers found. Those who had abstained since the original patch trial gained an average of about 8.8 kilograms (nearly 20 pounds), while the current smokers gained just 2.2 kilograms (about five pounds). The relapsed smokers gained 3.3 kilograms (around 7 pounds), and late abstainers who had quit
sometime after the original trial put on 8.3 kilograms (18 pounds). But among abstainers, there were also big differences in weight gain depending on the subjects' original BMIs. Both abstainers who started out underweight and those who were overweight (with average BMIs of 18 and 29, respectively) gained about 10 kilograms, or 22 pounds. Normalweight people with BMIs of 23 gained slightly less, averaging 7.8 kilograms (17 pounds). But individuals who started out severely obese (BMI of 36) gained 19.4 kilograms, or more than 40 pounds. For smokers, weight gain went in the opposite direction, with underweight people gaining the most (3.8 kilograms, or 8.5 pounds) and the heaviest people actually losing a bit of weight over time (0.8 kilograms, or about 2 pounds). "Smokers are usually advised to quit first and deal with weight later, but new research is exploring how to tackle both together," Lycett said. "One thing that does look promising is physical activity. We know that being physically active for an hour each day can help with weight control and there is also data suggesting that exercise reduces cravings to smoke too." Based on the findings, heavier smokers and their doctors should be vigilant about post-quit weight gain, she added. "They should keep an eye on their weight and be ready to make or support changes to their physical activity levels and the amount they eat as soon as they notice weight increasing," Lycett said. "It is easier to lose a few pounds as soon as you notice, than to find you have a lot more to lose in a year's time." She concluded: "Regardless of how much weight you gain, stopping smoking remains the single most important thing that someone can do for their health. We should never quit quitting."-Reuters
Honour, Devotion & Commitment
A legacy of the Father of Pharmacy Farrukh Mahmood
est in his students empow-
strived to get them intern-
ered each one of them to soar to heights in their areas of expertise. He felt an obligation to each one of them and
ships in various pharmaceutical companies and went out of his way to find them good jobs.
D
r Syed Muhammad Shams-uz-Zoha was born in Bihar, India in 1925. He was an accomplished scholar with three Masters Degrees and two PhDs (one from Michigan, USA and the other from Manchester, UK). He patronized and designed the first Penicillin factory in Pakistan and was awarded the prestigious Tamgha-e-Imtiaz in 1971. He was the key figure in developing the Pharmacy Act of Pakistan and also ideogram & composed the syllabus of the Faculty of Pharmacy at Karachi University. Spreading his talents overseas, Dr Zoha set up and led for 5 years the Faculty of Pharmacy in the University of Tripoli, Libya, where he was later honored by the Libyan Government. As the Dean of the Faculty of Pharmacy in Karachi University he touched the lives of thousands of pharmacists. His fatherly approach and personal inter-
Dr Zoha nicknamed Babae-Pharmacy was undoubtedly one in million. A moving Encyclopedia of knowledge, always ready to share and help others grow. A selfless, devoted and an unforgettable mentor. A man who showed dedication in everything he touched. Besides his professional life, he was a very pious man who connected with his Creator in Salat and often recited the complete Holy Quran in three days. Dr S M S Zoha was unquestionably a legendary personality who had reached the zenith of brilliance and brought knowledge & happiness to millions. Unfortunately his time to depart came and his soul departed on 2nd Nov, 2010. He was 85 years of age. Inna Lillahe Wa Inna Elaihe Rajeoon He will be long remembered for the meritorious services he rendered through out his lifetime! May God Almighty rest his departed soul in eternal peace and may he be blessed in Paradise. Ameen !
The marvelous way to improve your memory M
emory loss is the single biggest fear for human nature over the age of 55. And it's understandable: over 40 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 weekwhether 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, self-testing 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.
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Analysis & Feature
Sunday, December 5, 2010
PORTUGAL SEEN NEEDING UP TO 60 BN EURO AID PACKAGE * BAILOUT OF 45-60 BILLION EUROS NEEDED * MAY TAKE AID BEFORE YEAR-END DESPITE GOVT PROTESTATIONS * MARKET OVERESTIMATING SCALE OF AID NEEDED
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ortugal is likely to need a rescue package of 4560 billion euros from the European Union and the International Monetary Fund and may not get through the year without seeking a bailout. Investors believe Portugal will be the next euro zone country after Greece and Ireland to ask for help as its borrowing costs have risen above sustainable levels while its economy lacks competitiveness and growth is very slow. Portuguese Prime Minister Jose Socrates insists Portugal can survive without a rescue and that his austerity budget of tax rises and public sector wage cuts will keep the ship afloat. But many economists believe a bailout is just a question of when, not if, and some expect it could happen before the year-end if Lisbon is persuaded to tap EU funds pre-emptively in an effort to stop the euro zone sovereign debt crisis from spreading to Spain. "It is very likely that they will ask for a bailout -maybe before Christmas depending on market developments in the next days," said Juergen Michels, euro zone economist at Citigroup. If needed, Portugal, like Greece and Ireland, could get a 3-year plan of loans with an interest rate similar to Ireland -- 5.7-6.0 percent, economists and euro zone sources said. The need for a rescue appeared less urgent on Friday as spreads of
Portuguese bonds over benchmark German paper fell thanks to European Central Bank purchases of Portuguese bonds on the secondary market. This brought yields of 10year Portuguese bonds down to 5.9 percent -- no more than the country would have to pay to borrow from the EU. Euro zone sources said there were no talks on EU/IMF aid for Portugal and that the market estimates of a bailout of up to 60 billion euros could be too high. "No package is envisaged and less money would suffice," a senior euro zone source said. FINANCING NEEDS Portugal has completed its bond issuance programme for 2010 and its next bond redemption is not due until April, when it has to repay 4.5 billion euros. But analysts say there is an argument for dealing with Portugal sooner rather than later to avoid Spain getting dragged in to the mire. While a Portuguese bailout would be manageable, assistance for its neighbour Spain would sorely test EU resources and raise deeper questions about the integrity of the single currency bloc. In total, according to the Portuguese IGCP debt agency, Lisbon has to repay 9.5 billion euros in bonds next year, 8.5 billion in 2012 and 8.7 billion in 2013, with the total redemptions until September 2013 at 26 billion euros. According to the Portuguese 2011 budget, next
year's net financing needs are 10.75 billion euros, with the budget deficit seen at 10.5 billion euros. Those two figures add up to nearly 37 billion euros although a three-year financing deal would have to cater for further deficits in 2012 and 2013, which are difficult to estimate precisely at this stage. The good news, euro zone sources say, is that the banking sector in Portugal, unlike in Ireland where funds for stricken banks strongly boosted the overall bill, did not pose particular problems. "Portugal or Spain do not present concern in terms of the banking sector," one euro zone source said. If markets force Portugal to ask for help, the money would come from the European Union and the IMF in similar proportions as for Ireland and Greece -- two thirds from Europe and one third from the IMF, one euro zone source said. Economists also speculate that Portugal could get some kind of stand-by facility, which would suffice to calm markets, but which may never be actually used by Lisbon. "I think Portugal will have some facility similar to Ireland, something similar to a stand-by arrangement. Something that the government could draw on if needed and maybe banks as well," said Anke Richter, credit research director at Conduit Capital Markets in London. "They will try to get this type of facility and hope that
the markets calm down, so that you don't have to actually draw on it," Richter said. REFORMS Judging from the Irish experience, the EU and the IMF would take a few weeks to come up a plan for Portugal, outlining reforms needed in exchange for the money. In a paper on "Macro structural bottlenecks to growth in
EU Member States" from July the European Commission listed several concerns about Portugal, which could, in case of drawing up a reform programme, translate into concrete reform demands. Apart from fiscal austerity, the paper suggested that Lisbon should aim to improve its competitiveness by making labour laws more
flexible to allow for more wage growth moderation or even wage cuts. (For related Breakingviews column, click: [ID:nLDE6B20HU]) Portugal should also tackle labour market segmentation, move towards offering higher added-value goods and services, raise the education level of its labour force and "low educational achievements of current students", the paper
said. It should also implement a revised labour law which makes it easier to sack workers and gives more working hours flexibility. "A review of the protection of permanent workers and severance payments which are high from a cross-country perspective appears also necessary," the Commission said. -Reuters
As Asia cash piles grow, even Japanese firms up spending
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quick economic recovery, open access to bond markets and a steady stream of profits has piled up cash at Asia's top corporates, prompting even the most conservative spenders to put the money to use. The top five Asia net-cash holders are sitting on $71 billion, according to Thomson Reuters data, with six of the top ten based in Japan. Following the lead of other Asian companies, Japan's executives, historically very cautious when it comes to spending, are increasingly opening up corporate coffers. Should the trend continue, the already heavy flow of outbound aquisitions from Asia will likely increase in future quarters, bringing Japanese companies face to face on cross-border deals with the likes of those in China and
India. "With their earnings now stable, they are becoming more active in investing, reversing the trend of the past two years," said Moody's analyst, Shinsuke Tanimoto, on Japan corporations. Japan's capital spending in July-September rose from a year ago, posting the first annual gain since 2007. Previously, Japanese companies had been cutting capital spending on concern the strong yen and slowing exports would keep hurting growth. Backed by the strong yen, outbound M&A doubled with a total value of $31.5 billion in the first nine months of 2010, the second highest volume recorded for the period since 2000. In terms of number of announced deals, the period marked the highest ever with
367 deals. The US remains the most targeted nation based on number of deals by Japanese companies, with China in second place. Japanese companies have tended to struggle to find ways to spend on capital investments or hiring. That's changing. Moody's Tanimoto says Canon Inc and Takeda Pharmaceutical Co have made the best use of excess cash. Takeda has $9.2 billion, in net cash, Canon has $8.6 billion and Sony has $6 billion, according to Thomson Reuters. Takeda in 2008 bought U.S. firm Millennium Pharmaceutical Inc for $8.8 billion in the largest purchase among Japanese drug companies. Last month, the Wall Street Journal reported that Takeda has looked at purchasing Genzyme but is unlikely to bid.
Nidec Corp , a motor maker, is another Japanese corporate that has spent aggressively. "Japanese companies have been cash-rich for more than 10 years and it's almost a chronic situation," said Takuji Aida, an economist at UBS Securities Japan, citing the perpetual fear that the country's deflation will not end. PAN-ASIA Moody's says that rated Asian corporates, excluding Japan and Australia, have built cash holdings to around $230 billion, which, based on 120 corporates, is highly concentrated among top companies and nearly double the average of a U.S. sampling. From the end of 2008 to mid2010, cash holdings of these Asian corporates rose nearly 60 percent, mainly on improved operating performances and debt-raising, accord-
ing to Moody's. Large cash positions, coupled with the desire -- and in some cases the need -- to grow abroad has led to a wave of large, Asia-based corporates spending on overseas acquisitions. China's state-run energy companies have led that pack, with sector leaders in India also moving abroad. That activity however does not mean that all in the cash-rich category plan to go on a spending spree. South Korea's Samsung Electronics has $6.1 billion in net cash, Thomson Reuters data shows. Samsung has said the cash is for investment and other corporate operations and wants to preserve it for investing in chips, its LCD business or M&A. Another corporate holding onto its extra money is China Mobile , the world's biggest mobile operator, which has a
net cash position of $33.8 billion, the data shows. The company has repeatedly frustrated investors with its lack of blockbuster deals and refusal to return more of its money to shareholders in the form of higher dividends. Its stock currently yields a dividend of about 4 percent, compared with 5-9 percent for comparable slow-growth telecoms carriers, said Daiwa analyst Marvin Lo. He said China Mobile may be hoarding its cash for any number of reasons, including potential for having to participate in government-led initiatives such as a recent drive to upgrade the country's fragmented cable TV sector. "They will do something (with the cash), but not necessarily to please all the investors," he said. IT'S OKAY TO HOLD
The research unit of China Construction Bank , CCB International, in a note on China's software and IT services sector, advises that holding too much cash is not a bad thing. "Some investors are concerned that the high cash level of Chinese software companies is dampening their ROE, currently in the teens versus global peers with 20 percent plus," analyst Xin Zhao said in a note. CCB International's analysis suggests that the cash level of Chinese software and IT services companies, as measured by net cash to equity and net cash as a percentage of the current year's revenue, "is roughly in line with that of global peers," Xin wrote. The low return on equity is more from lower margins, Xin said, adding it will improve gradually. _Reuters
India likely to tax vegoil imports, purchases to drop
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ndia looks set to tax imports of crude edible oil and raise a levy on refined varieties early next year, conceding industry's demand for a lid on surging imports to help refiners boost falling margins. The steps will marginally cut purchases by the world's largest buyer of cooking oil and hurt small consumers who will have to pay more, but the industry says the levy will encourage oilseed farmers to make greater efforts to plug a yawning demand gap. India, which imports more than half its annual needs of 16.5 million tonnes, expects domestic edible oil supplies to rise by 1 million tonnes in 2010/11, swelled by higher oilseeds output, thanks to a
better monsoon after last year's drought. One analyst said edible oil imports were likely to fall 3 percent in the year to October 2011 after India bought a record 8.8 million tonnes in the year to October 2010, helping drive up global palm oil prices 42 percent . "With the likelihood of a rise in oilseed production, domestic oil supplies are expected to rise by 1 million tonnes this year from 7.7 million last year," said Veeresh Hiremath, chief analyst with brokerage Karvy Comtrade, based in India's southern city of Hyderabad. India's edible oil imports have been rising for the past 5 years, prompting industry
officials to reinforce their demand for an increase in the duty. "There is a strong possibility of an import duty on crude and higher duty on refined edible oils during the budget. The government is likely to finally meet the long-pending demand of the industry," said Jyoti Kanda, director of trading firm Kanda edible oils in Rajasthan, the main rapeseed-growing state. Finance Minister Pranab Mukherjee was expected to announce the measures when he presented the national budget in February, he said. The country will take a call early next year on either slapping a duty on crude vegetable oils or raising the
tax on refined variants, a senior government official, who asked not to be identified, said. Prime Minister Manmohan Singh's government, which was voted back to power last year with a greater mandate from the rural poor, would prefer to protect domestic oilseed growers from unbridled imports by slapping on the duty, especially when food prices are easing, some traders say. FOOD PRICES EASE India's annual food inflation eased to its lowest level in 18 months to 8.6 percent in the year to Nov. 20 from 10.15 percent in the previous week. It would be easier for the government to introduce one
duty and raise the existing one in February as the rapeseed harvest due in March would keep oilseed and edible prices under control, Kanda said. The government opened the floodgates to imports in April 2008 by dropping a crude vegetable oil import tax and cutting the duty on refined oils to 7.5 percent from 27.5 percent. Helped by lower duties, cooking oil purchases by India, which dislodged China as the world's No. 1 edible oil importer in 2009, rose 7.3 percent to a record in 2009/10. Edible oils are one of the most important items of diet for Indians, who tend to be partial to high-calorie and
deep-fried food. Typically the consumption of the cooking oil rises during major festivals. Edible oils make up a mere 3.04 percent in the widelywatched wholesale price index, Kanda said. That could encourage the government to be bold. Singh's government, battling a series of corruption charges, will be eager to keep rural voters happy, particularly with elections just round the corner in some states. Singh's Congress party, which heads the coalition government, took a drubbing last month in an election in the eastern state of Bihar, which sends seven percent of the country's lower house lawmakers to
parliament. Even if consumers might have to spend a little more, encouraging farmers is important to attain a long-term goal of self-sufficiency in vegetable oils, said Sudhir Kumar Panwar, chief of the Kishan Jagriti Manch, a farmers' body. So it is only a matter of time before the Indian government starts raising import taxes for all palm oil products, a Malaysian physical palm oil trader said. "Right now the farming lobby, or rather the farming vote bank, would be the most important for the government, as there is a good oilseed crop coming in and global vegetable oil prices are still high," the Malaysian trader said. -Reuters
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Sunday, December 5, 2010
EU exec raids pharmas in antitrust probe BRUSSELS: EU antitrust regulators have carried out raids on some firms in the pharmaceutical sector on suspicions of collusion to delay the entry of generic drugs into the market, the European Commission said. The Commission, which acts as the competition watchdog of the 27-nation European Union, said the raids took place Nov. 30 in several EU countries, but it did not identify the companies. HONG KONG: President, NovaTech Biological Pharmaceutical and "The Commission has reason others witnesses signing ceremony. -Reuters to believe that the companies concerned may have acted individually or jointly, notably to delay generic entry for a particular medicine," it said in a statement, emphasising that the inspections were a preliminary step in suspected anticompetiLONDON: GlaxoSmithKline was keen to strengthen its ties a small study showed it com- tive practices. -Reuters raised its stake in US biotech with Theravance as an alliance pared well with Advair. firm Theravance to 19 per that has been in place since Both Advair and Relovair cent, signalling its confidence 2002 comes nearer to bearing combine a corticosteroid and in a key new respiratory drug fruit. long-acting drug to open the being developed with the com"This reflects the confidence airways but Glaxo believes pany. we have in the Relovair pro- Relovair represents a signifiTheravance's shares were up gramme and the wider late cant advance that will win 6.9 percent at $24.43 by 1630 stage respiratory pipeline that over patients and doctors. LONDON: US pharmaceutical GMT on Monday on the news. we have built up through the Advair accounted for 18 percompany Merck is set to buy Glaxo and Theravance are collaboration," Slaoui said. cent of group revenues last SmartCells Inc, a privately held working together on a treatThe British drugmaker has a year and its future has been a biotechnology firm in the early ment called Relovair for asth- track record of acquiring concern for investors since its stages of developing a new diama and chronic obstructive stakes in its partner companies patents will shortly expire. betes drug, the Wall Street pulmonary disease, which the but has tended to shy away More recently, however, confi- Journal reported. British drugmaker hopes will from outright acquisitions. Its dence has grown that Advair The deal for SmartCells be a successor to its top-selling CEO, Andrew Witty, told will remain a major seller for a would exceed $500 million if Advair treatment, which had reporters he was "very happy" number of years, due to the various milestones for developsales of 5 billion pounds ($7.8 with the Theravance partner- difficulties facing generic ment, regulatory approval and billion) last year. ship and declined to comment companies seeking to make sales were met and could be The latest investment on whether he wanted to raise cut-price copies. announced as early as involves GSK buying a further the stake further. Teva Pharmaceutical Thursday, a person familiar 5.75 million shares in Glaxo has so far kept Industries Ltd earlier this with the matter told the Journal. A SmartCells deal would Theravance for $22.50 each at Relovair largely under wraps month said the regulatory hura cost of $129.4 million, tak- but it gave a promising dles in the United States were expand Merck's treatment ing its holding to 15.15 million glimpse of the new once-daily so high that it would not be offerings for diabetes. It shares, the companies said. inhaled medicine during a able to develop a generic copy already has two top-selling Moncef Slaoui, Glaxo's head medical congress in that can be routinely substitut- drugs for Type 2 diabetics in its portfolio. -Reuters of research, said his company September, when results from ed for the original. -Reuters
Glaxo lifts stake in lung drug partner Theravance
Merck set to buy biotech firm SmartCells: WSJ
Roche fears industry drowning in "spam" data LONDON: The pharmaceutical industry is drowning in a mountain of data as companies hunt for new drug leads inside their own laboratories and through alliances with outside firms, Roche's chief financial officer said. Erich Hunziker -- who also heads information technology at the Swiss drugmaker -- said on Wednesday that dealing with the ever-growing stream of data was one of his biggest concerns. "The data volume of Roche at the moment is doubling within 15 months," he told an industry conference. "I don't think we are increasing our know-how every 15 months, far from it. I'm scared that a lot of this data is just spam. We don't know how to filter it." In addition to handling information from its inhouse global team of researchers, Roche also has to process data from around 150 smaller partner companies, plus many would-be partners. Hunziker said Roche was now screening up to 1,800 proposals for alliances every year from outside biotech companies, universities and other
research organisations. Scientific advances and increased computing power mean researchers now have more opportunities than ever to pursue drug development ideas, but the industry's track record in delivering new medicines to the market has not increased in tandem. In fact, investors are increasingly uncertain about returns on the billions of dollars being poured into research and development by drug companies around the world. Disappointing R&D productivity, coupled with a wave of patent expiries, has been a key factor in the sector's massive de-rating in recent years, with the industry now trading on the lowest price-to-earnings ratio in 30 years. Hunziker told the FT Global Pharmaceutical and Biotechnology Conference that two clear models had emerged for pharmaceutical companies in recent years -- with some companies, like Novartis and GlaxoSmithKline, embracing diversification and others, like Roche, sticking to a pure pharma. Setbacks this year mean
Roche has come under fire from some analysts for overspending on its research but Hunziker said he was convinced that in the long term his company's model would deliver better returns than those from diversified groups. Roche and Novartis have both announced strategic updates this month and their very different approach has led to frosty relations between the chief executives of the two companies. Roche Holding AG's Chief Executive Severin Schwan believes the survivors in the pharmaceuticals sector will be large generic drugmakers, and companies who make innovative new products. Speaking at the The Boston College Chief Executives' Club of Boston, Schwan said that companies who try to be all things to all people or whose new products are not significantly different from existing drugs, will disappear. "There will be those companies who will be very focused on generics, and within this group I expect a lot of consolidation," he said on Thursday. Reuters
Momenta sues Teva over generic Lovenox NEW YORK: Momenta Pharmaceuticals Inc said it sued Teva Pharmaceutical Industries Ltd, accusing the Israel-based company of infringing its patents by producing and processing its own generic version of the blood thinner enoxaparin. Momenta in July won US approval to sell the first generic formulation of the injectable drug, which has been sold under the brand name Lovenox by French drugmaker Sanofi-Aventis SA and has long been used in hospitals to treat and prevent blood clots. Momenta, which filed the suit in U.S. District Court for Massachusetts, sells its generic in partnership with Sandoz, the generic division of Swiss
drugmaker Novartis AG Teva, the world's largest generic drugmaker, is awaiting an approval decision from the U.S. Food and Drug Administration for its version of enoxaparin. Momenta contends in its lawsuit that such an approval would constitute infringement of its patents. Teva on Thursday said it believes the lawsuit to be without merit and that it intends to seek reimbursement "for all legal fees in fighting these baseless allegations." On Nasdaq, Momenta closed up 1.5 percent at $15.65, while Teva ended down 0.4 percent at $49.77. -Reuters
Sun Pharma to delist US subsidiary No #1
Continued from page 8
Millennium Development Goals, furthermore, the reformed system should better enable it to respond to and prevent financial and economic emergencies." Any reform process would remain incomplete if the transparency of risk-rating mechanisms was not enhanced, he added. "It is important all efforts aimed at strengthening financial regulation and standards should take into account domestic circumstances and capacity of local financial markets in developing countries." "Volatile capital flows, however cause severe difficulties, particularly to developing countries," Naek said. "We are, therefore, of the view that capital flows cannot be entirely and exclusively at the mercy of market forces and that there are times situations when a state has to intervene." In other intervention during the course of hearing, Farooq Naek said Pakistan supports a truly effective and representative framework for addressing global economic challenges. He called for initiating a dialogue at the United Nations towards inclusive, accountable and transparent international economic decision-making. Pakistan supports the establishment of a Global Economic Coordination Council to address areas of concern in the functioning of the global economic system, reforming the Governance, accountability and transparency in the Bretton Woods Institutions and other non-representative institutions, he added. -APP
orate further unless a political settlement was reached between the government and the Taliban. Afghanistan ranks 155th out of 169 countries on the UN Development Programme's Human Development Index, which measures health, knowledge, and income. Bragg said the conflict had cut the capacity and availability of basic services. "We hope to recast the humanitarian agenda in Afghanistan based upon the core tenets of humanity, impartiality and neutrality and be better placed to reach more people," she said. But the pressure on 192 UN member states for aid is high with fundraising competing with other campaigns, including help for earthquake surivovrs in Haiti and flood victims in Pakistan. Despite the presence of 150,000 foreign troops, military and civilian casualties are at their worst levels since the 2001 removal of the Taliban. -Reuters
No #6
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"We pay tribute to your vision for Afghanistan as articulated in your inaugural speech last year." Gilani said Pakistan had supported all steps and initiative taken by President Karzai. He said Pakistan believed that the people of Afghanistan should be masters of their own destiny. "We have immense respect and heartfelt affection for our Afghan brothers. We salute your sacrifices and admire the great resilience and talent of the people of Afghanistan." "We will always stand by our Afghan brothers and sisters. Yours success is our success," Gilani said. He assured that Pakistanis as true brothers would always bear in mind interests of Afghanistan. Continued from page 8 No #2 On the occasion, Afghan President Hamid Karzai said that IPS accounts from its own holdings. The Circular advised all scheduled banks/primary dealers that IPS maintenance charges (if Afghanistan enjoys brotherly relations with Pakistan, adding we any) must be clearly defined in schedule of charges of scheduled very well know that Pakistan has paid invaluable sacrifices in war against terrorism adding Afghanistan eyes visit of PM Gilani with banks/primary dealers. It may be pointed that the development of a vibrant government utmost respect and significance and will pave way for a prosperdebt market is a prerequisite for the strengthening of other sectors ous South Asia. We must root out the menace of terrorism and extremism jointwithin the financial markets. SBP has been working actively ly and collectively, Karzai maintained. towards the achievement of this objective. The wave of uncertainty between the two countries must end Earlier this year, an electronic trading platform for GoP debt instruments was launched which provides real-time information now and we must look forward, he stressed. The delegation comprising Rehman Malik, Interior Minister, about market activity. It was followed by active engagement of various stakeholders Federal Trade Minister Amin Fahim, Railway Minister Ghulam Ahmed Bilour and Secretary Foreign Affairs Salman Basheer whereby it was realized that a major impediment in the development of this market is the lack of awareness among the general accompanied PM Gilani who met different delegations in Kabul investing institutions/public regarding GoP marketable instru- and discussed bilateral issues, security situation, regional situation, Confidence Building Measures etc in length besides focusments. -Online ing to expand and enhance trade and economic relations between Continued from page 8 the two countries. -Agencies No #3 He said the incentives offered by Pakistan to foreign investors Continued from page 1 No #7 are very similar to the ones by the Sri Lanka. -APP Speaking in a private TV channel program he said "we acknowlContinued from page 8 No #4 edge the services rendered by Jamil Fakhri in the field of art. The event will showcase the opportunities available to interna- "We fully share his grief and this is a matter of grave concern for tional investors in the Pakistan economy and is designed to both us that his elder son has gone missing since 22 months in New showcase a number of Pakistan based listed and public companies York. Jamil Fakhri is in contact with foreign office and Pakistan and connect them with a wide range of senior representatives from the international buy-side investor and corporate advisor authorities in New York. We have held out assurance to Jamil Fakhri that we will launch communities. -Agencies all efforts for early recovery of his missing son. We will surely be Continued from page 8 No #5 lacking some thing in our efforts and there may be some flaws in UN deputy emergency relief coordinator, said in a statement our strategy", he held. marking the 2011 appeal. Foreign minister and foreign secretary had taken serious notice Western nations supporting President Hamid Karzai are pouring of the reports about the disappearance of son of Jamil Fakhri he vast amounts of aid into Afghanistan, but much of the cash is said adding "we are ready to extend every assistance to Jamil spent in areas with the worst insurgency problems to show locals Fakhri. that they can reap gains from rejecting the Taliban. Foreign secretary has talked to Pakistan ambassador in New A substantial portion also goes on security costs and the salaries York and counselor general at New York and has directed them to of foreign experts. Afghanistan does not grow enough food for its gear up the pace of efforts to trace out missing son of Jamil people, and the war between Nato-led forces and the Taliban -- Fakhri. We can say nothing unless the real situation comes before now in its 10th year -- has pushed up costs of imports. The con- us", he added. -Online flict has also made swathes of the country inaccessible for aid Continued from page 1 No #8 groups. Recommendations for the extension in terms of Tahira Safdar, The International Committee of the Red Cross warned on Jamal Mandu Khel and Muskanzai, will now be forwarded to a Thursday that the dire humanitarian situation was likely to deteri- parliamentary committee for approval.
NEW YORK: Drug major, Sun Pharmaceutical Industries, is set to delist its troubled US-based subsidiary Caraco Pharmaceutical from the US bourses. Sun Pharma gets USFDA nod for two generics - Sun completes Taro buy, shares hit record high - Sun Pharma claims victory over Israeli firm Taro - US drug regulator again warns Sun Pharma on manufacturing norms - Mid-size pharma firms emerge faster, perform better Sun's US subsidiary gets help from its banker. The company, which holds about 76 per cent stake in Caraco, announced today it would acquire the remaining Caraco shares at $4.75 per share in cash, a five per cent premium over the most recent closing price. According to Bloomberg data, Caraco has 39.635 million outstanding shares. The deal will cost Sun Pharma approximately $45.18 million (Rs 214 crore). It did not disclose the deal size. In a letter to the board of directors of Caraco, Sun Pharma Chairman Dilip Shanghvi said his company was proposing a private transaction
under which Sun, Sun Global and one or more of their affiliates would acquire all the outstanding shares of Caraco Pharmaceutical Laboratories. “Our proposal presents valuable opportunities for our companies to build upon our existing commercial partnership and to realise the significant incremental benefits that will accrue from a full combination of our businesses,� he said. He said Caraco’s board of directors had authorised the independent committee to evaluate the delisting proposal. Sun had acquired Caraco in 1998 when it was a loss-making company and turned it around in a few years. Caraco, started in 1984, is a publicly listed generic pharmaceutical company traded on the New York Stock Exchange. In June last year, the US regulators seized about 33 drugs and raw materials at three plants of Caraco in the US, citing deviation from current good manufacturing practices (cGMP). Since then, the Detroit-based company was not allowed to run these three sites. -Reuters
The Judicial Commission has proposed the name of Iqbal Hameed-ur Rehman as the Chief Justice of the Islamabad High Court. It has decided to forward the recommendations to the Parliamentary Committee. Sources said the commission discussed fresh nominations, and the confirmation of additional judges to the high courts. The commission will hold another meeting to nominate six judges for the Islamabad High Court during the second week of this month. Soon after the meeting, Federal Minister for Law and Justice Babar Awan in a quick chat with media persons said that Islamabad High Court would start working from Dec 13 and all decision of the Judicial commission have been made through consensus. -Online
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The report states that the commission can question Magistrate RV Sawant Waghule, Investigation Officer Romesh and the 26 doctors who carried out a post mortem on the people killed during the attacks. Earlier this month, Islamabad urged New Delhi to allow a Pakistani commission to visit India to gather more evidence for the prosecution of seven suspects linked to the 2008 Mumbai attacks. The sole surviving attacker, Pakistani national Kasab, is on death row in India after being sentenced to death by a Mumbai court in May. Both Delhi and Washington have blamed the Mumbai attacks, which killed 166 people, on the banned organization Lashkar-e-Taiba (LeT). -Agencies
No #10
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The agreement followed a secret agreement brokered by the US, and came barely a month after the attacks, reported BBC. The cables also warns the Lashkar-e-Taiba militant group which carried out the Mumbai attack, could act again. The leaked cable, sent to Washington on 3 January 2009 by Ms Patterson, showed that barely a month after the 26 November 2008 Mumbai attacks, Pakistan agreed to share information with India on Islamabad's investigation into the gun and grenade strikes. Brigadier Sajjad, who was head of Pakistani delegation in the Border Flag meeting held in Afghanistan province of Kandahar on 20 Sept 2009, said that Quetta Shura does not exist while US is prey of rumors. WikiLeaks documents reveals here on Saturday that during Border flag meeting held on 29 September 2009 in Kandahar in which Brigadier Sajjad led Pakistani delegation said that more than 80 check posts have been set up in Quetta and if Taliban were present there then the security forces would have known about it. It is noticeable to mention there that it was the first meeting which was attended by representatives of American Strike Brigade, Canadian Task Force Kandahar officials, Afghan border police and Pak Army. Commander task Force Kandahar BG Nathon presided the meeting. -Agencies
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Kayani, a former head of the Inter-Services Intelligence (ISI) agency, has said he would keep the army out of politics and would support democracy. "Kayani made it clear that regardless of how much he disliked Zardari, he distrusted Nawaz even more. The scenario Kayani hinted at was one in which he would pressure Zardari to resign (and presumably leave the country)," Patterson said in the cable. Abbas said Kayani "holds all national leaders in esteem", including Sharif. Kayani is a low-profile military man said to be well-regarded by his US counterparts. He is a shrewd political operator, working behind-the-scenes to avoid political instability that has plagued Pakistan throughout its history.-Agencies
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UN Annual Parliamentary Hearing
Pak urges to rewrite global fiscal system Problems demand open, transparent process, says Naek
NEW YORK: Chairman Senate, Farooq H Naek, speaking at the Parliamentary Hearing at the UN Headquarter. Senator Saeeda Iqbal, Haji Mohad Adeel and Khatumal Jeewan also seen in the picture.-Reuters
BoI chief terms Colombo tour successful
Isb looks to treble trade with SLanka ISLAMABAD: Minister of State/ Chairman Board of Investment (BOI), Saleem H Mandviwalla Saturday termed the visit of President Asif Ali Zardari to Sri Lanka very successful and said that both the countries would boost bilateral trade from existing $300 million to one billion dollar. According to a statement of the BoI issued here, Saleem Mandviwalla visited Sri Lanka with the President to finalise the possibility of enhanced commercial and economic cooperation and the potential of two-way investments between Pakistan and Sri Lanka. On return from his successful visit to Sri Lanka, Chairman BoI said that Sri Lanka is keen
Pak, India engage in cyber-war ISLAMABAD/ NEW DELHI: A group calling itself the 'Pakistani Cyber Army' has hacked into the website of India's federal crime investigation bureau and left a warning message to Indian hackers, whereas Indian hackers too countering the cyber-hits hacked Pakistan Ogra website. The website of the Central Bureau of Investigation (CBI) was penetrated as nucleararmed rivals India and Pakistan have made efforts to repair relations and build trust that evaporated after the 2008 Mumbai attacks. "CBI registered a case for the defacement of its website," the agency said on Saturday. "It has come to the notice of CBI that its official website was unauthorised accessed and defaced. A case has been registered in this connection." The Indian government has flagged concerns over its cyber security after a series of attacks on government websites by suspected Chinese hackers, including the office of the National Security Adviser. -Agencies
to learn the agricultural techniques from Pakistan to increase the capacity of its agricultural land. He said that a ceremony of signing the MoU in agriculture was also held in which Chairman BoI and Lankan counterpart primarily assured each other to clarify the intention to establish the understanding of having cooperation for business facilitation in the field of agriculture. He said that he also addressed to Pakistan Sri Lanka Business Forum, in which he highlighted that Pakistan was the second largest trading partner of Sri Lanka in Asia with bilateral trade volume of $300 million but "our target is one billion
dollars in the near future". Pakistan can help Sri Lanka set up sugar and cement plants in return for import of Sri Lankan produce and manufactures in Pakistan in barter trade. Saleem H Mandviwalla said Pakistan has offered a soft credit of $200 million to Sri Lanka for exporting, barter trade and easing its business transactions. He mentioned they have a Free Trade Agreement, Bilateral Investments Treaty and Avoidance of Double Taxation to facilitate business communities. He also said the visa regime would be liberalized and business community facilitated to travel. See # 3 Page 7
London Stock Mkt Moot on 10th
All set for Pak SOEs showcase ISLAMABAD: All arrangements have been finalised to showcase Pakistan Petroleum Limited (PPL), Pakistan State Oil (PSO), Oil & Gas Development Company Limited (OGDCL), Sui Northern Gas Pipeline Limited (SNGPL), Sui Southern Gas Company (SSGC) and Pakistan Mineral Development Corporation (PMDC) at London Stock Exchange (LSE) moot on "Pakistan Capital Market Forum" on December 10, 2010 (Friday). The opposition leader in Senate of Pakistan Senator Wasim Sajjad, the Chairman Senate Standing Committee on Privatisation Senator Adnan Shah, members of the Committee Senator Ilyas Bilour and Senator Imtiaz Shaikh will also participate in the moot. London Stock Exchange (LSE) is organising the Forum in conjunction with Nomura Dubai at LSE Headquarters, UK. London Stock Exchange has invited Senator Waqar
Ahmed Khan Federal Minister for Privatisation to deliver his keynote address at Pakistan Capital Markets & Privatisation Forum. The PC is endeavoring to turnaround the SoEs and to reduce the budget deficit. Senator Waqar Ahmed Khan Federal Minister for Privatisation will lead a high level delegation comprising on top management of Pakistani companies to open the moot and to deliver keynote address while 50 top market leaders of international business and investment groups have also confirmed their participation. The Senate Standing Committee on Privatisation (SSCOP) has already given unanimous support to the Privatisation Commission (PC) for its equity-linked activity (Convertible Bonds) in the global market to turnaround the State Owned Entities (SoEs) while PC Board had also given go ahead in this regard. See # 4 Page 7
UNITED NATIONS: Pakistan called for the early restructuring of the international financial system so that it serves the needs of developing countries and prevents financial and economic emergencies. "I would like to emphasise that solutions for global problems demand open, inclusive and transparent processes," Senate Chairman Farooq H Naek said while intervening in the Annual Parliamentary Hearing at UN Headquarters in New York. He also urged the UN General Assembly to establish a body to examine the issue of external debt of developing
countries as well as debt resolution mechanisms that take into account the multiple dimensions of debt sustainability in order to help the developing countries. "A global, comprehensive and durable solution to the external debt problems of all developing countries is required in order to free their meager resources of socio-economic development," the Pakistan chief delegate told the hearing. Jointly organised by the UN and the Inter-Parliamentary Union (IPU), the Annual Parliamentary Hearing provides a forum for interactive
discussions between members of parliament and high-ranking UN officials, representatives of member states and experts drawn from think-tanks and civil society organisations. The main theme of the 2010 Hearing is: Towards economic recovery, rethinking development, retooling global governance. Naek called for assigning the United Nations a central role in the process to redesign the international financial system on the basis of the following principles: (1) The new architecture should be UN inclusive to ensure global participation and legitimacy; (2) The right to have a voice and representation
should be built around and driven by the imperatives of need and equity, and, (3) It should be based on a carefully crafted balance between the role of government, markets and civil society. "We should ensure that the reformed international financial system sustains economic growth and supports sustainable development as well as equably serve the needs of Member States, particularly developing countries," Naek said. "It should support developing countries to achieve internationally agreed development goals, including the See # 1 Page 7
RGST Bill
End to corruption must for progress: Sharif
No rift with PPP: ANP
‘N’ refuses to fuel anti-people drive
PESHAWAR: KhyberPakhtunkhwa Minister for Finance Engr. Muhammad Humayun Khan has rejected differences between PPP and ANP over imposition of Refined General Sales Tax (RGST) saying that newspapers reports about issue were based on personal views. In a press statement issued on Saturday, Provincial Finance Minister said that RGST was a federal matter and any opinions about it would be too early as it was under consideration. He said that whatever decision would be taken by the coalition partners of the government would be respected by all. "The matter of RGST would be resolved with consensus and the interests of people would be kept supreme", he expressed the hope. -Agencies
UN appeals $678mn for Afghans KABUL: United Nations Saturday launched a $678 million humanitarian appeal for Afghanistan, where despite inflows of millions of foreign aid dollars, the world body said about a quarter of the population goes hungry. UN Assistant SecretaryGeneral for Humanitarian Affairs Catherine Bragg said some 7.4 million Afghans were living with hunger and fear of starvation; millions more rely on food help and one in five children die before the age of five. "Despite progress in some areas, the toll of the ongoing conflict and endemic natural disasters on Afghanistan's people remains immense, requiring continued life saving assistance," Bragg, also the See # 5 Page 7
HASALPUR: Chief PML (N) Mian Nawaz Sharif has said that inflation and poverty cannot be eradicated until we overcome corruption, adding that we would oppose all anti-people decisions of the government. Talking to a PML-N delegation from Hasalpur Nawaz Sharif said that a beggar country and government is unacceptable. Nawaz Sharif said that marshal law damaged the country always and had dismembered Pakistan in two parts. He said that people looted the country
on the tag of development work and nepotism was at full swing in Musharraf era. He said that disable democracy is better than dictatorship. PML (N) chief said that Nleague does not want to overthrow the government but PPP should review its policies and facilitate the people in better way. He said that it is responsibility of the government to provide relief to mass. Nawaz Sharif said that PML (N) would not forget those leaders and workers who sacrificed for party in dictator era and it appointed them at party
key posts. Nawaz pointed out that he cleansed the party from turncoats. He said that if PML (N) had formed a government than Pakistan would be at top in list of developed country. He said that if people give chance to PML (N) than it would help and introduce the new schemes for people. Main Nawaz Sharif said that government should avoid the clashes with institutes because it is not better for people and country. He forced the government that it should abandon its policy and implement on Apex court decision. -Online
State Bank facilitates securities investment KARACHI: State Bank of Pakistan has issued fresh instructions regarding Investor Portfolio Securities Account (IPS) making it mandatory for primary dealers to offer IPS accounts to investors while other scheduled banks can also offer such accounts to nonbank investor base including individual investors. This would widen the investor base by facilitating investment by the non-banking institutions & general public in Government of Pakistan (GoP) marketable securities. All scheduled banks have been advised through a Circular (FSCD Circular No. 18), which was issued Saturday, to introduce IPS account opening service to their customers and publicise the same at branch level. IPS accounts enable customers to maintain custody of their
investing securities with the primary dealers & banks and also facilitate the trading of these securities with easy transfers to other accounts. The current range of GoP marketable securities includes Treasury Bills, Pakistan Investment Bonds, and Ijarah Sukuk. With regard to opening of IPS account, the Circular said any individual or entity which has PKR denominated account with any scheduled bank will be eligible to open IPS account. The Circular said that each scheduled bank/primary dealer will devise its own internal guidelines regarding IPS account opening and develop a system for IPS account maintenance which at a minimum should have the capacity to allot account numbers, record transactions and generate activ-
ity statements. All scheduled banks/ primary dealers are advised to submit copy of internal guidelines in this regard to the Financial Markets Strategy & Conduct Department (FSCD) of the State Bank before January 31, 2011. Moreover, each scheduled bank /primary dealer will provide activity statements to IPS account holders on quarterly basis at minimum as per the prescribed format, it said and added that the customer wise holding position in each category of Government security must be reported to Public Debt Office SBP (BSC) Karachi latest by 5th of each month as per the prescribed format. Each scheduled bank /primary dealer must ensure segregation of the securities held in See # 2 Page 7
France backs Delhi’s civil N-plan, UNSC bid BANGALORE: French President Nicolas Sarkozy arrived in India on Saturday, the latest in a line of global leaders beating a trade-focused path to the door of the world's second fastest growing economy. Sarkozy, who will lobby on behalf of French companies chasing multi-billion-dollar Indian contracts for fighter jets and nuclear technology, is being accompanied on the four-day trip by his pop star wife Carla Bruni. His visit comes a month after US President Barack Obama travelled to India and will be followed in swift succession by Chinese Premier Wen Jiabao and Russian President Dmitry Medvedev. Sarkozy is leading a highpowered delegation of seven ministers and around 60 chief
executives, including the heads of aircraft-makers Dassault Aviation and EADS, and the state-controlled nuclear group Areva. Dassault is hoping to pick up a 1.2-billion dollar contract to revamp 56 Mirage-2000 aircraft that France sold India nearly two decades ago. In an interview with The Hindu newspaper, Sarkozy said he embraced his role as a global lobbyist for French firms. "Do I want French companies to win contracts and get ahead of their competitors on the Indian market? Of course, I do. And do I think it is my role as head of the French state to help them? ... The answer is once again 'yes'," he said. At the same time he rejected the label of "super-salesman," saying his ambitions for
Franco-Indian ties went "far beyond" the economic sphere. "India is, first and foremost, a major political partner, an indispensable power without which we cannot rise to the major challenges the world faces," he said. His visit to India is his first to a G20 state since France took the presidency of the group of developed and major developing economic powers. During talks with Indian Prime Minister Manmohan Singh, he is expected to push his plans for overhauling the global monetary system and combating commodity price volatility. The two leaders are also expected to focus their discussions on Afghanistan and spending plans, spread across forces, are a source of intense counter-terrorism. India's ambitious military all three wings of its armed competition among foreign
arms manufacturers. According to global consultancy firm KPMG, India is about to embark on "one of the largest procurement cycles in the world," with an expected 112 billion dollars in defence acquisitions by 2016. Dassault and EADS are both in the running, together with US and Swedish rivals, for an 11 billion dollar tender by the Indian Air Force to purchase 126 warplanes. The couple plan to squeeze in a private visit Sunday to the Taj Mahal, the 17th century "monument to love" built by Mughal emperor Shah Jahan in memory of his queen Mumtaz Mahal. On the official level, Sarkozy will be accompanied by Defence Minister Alain Juppe, Foreign Minister Michele Alliot-Marie and Economy Minister Christine
Lagarde. Indian officials said no contracts would be signed during the visit but there are hopes of progress in talks for Areva to build two nuclear reactors in western India. The trip kicked off in the southern city of Bangalore, India's high-tech capital, where the president was to tour the Indian Space Research Organisation. The French leader will meet Prime Minister Singh on Monday in New Delhi, where his wife plans to visit a foundation for children suffering from AIDS. On Tuesday, he travels to India's commercial capital Mumbai, where he will pay his respects to the victims of the 2008 militant attacks on the city that claimed 166 lives. -Agencies
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