International Karachi, Sunday, December 19, 2010, Muharram-ul-Haram 12, Price Rs12 Pages 8
I stand by my statement: Mirza Economic Indicators Forex Reserves (4-Dec-10) Inflation CPI% (Jul 10-Nov 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 - Nov 10) Foreign Invest (Jul 10-Nov 10) Revenue (Jul 10-Nov 10) Foreign Debt (Sep 10) Domestic Debt (Oct 10) Repatriated Profit (Jul- Oct 10) LSM Growth (Sep 10)
GDP Growth FY10E Per Capita Income FY10 Population
$16.39bn 14.44% $7.17bn $12.25bn $(5.08)bn $(533)mn $4.43bn $746mn Rs 495bn $58.41bn Rs 5234.9bn $203.80mn -2.58% 4.10% $1,051 171.31mn
192.31 29.58 -3.48 2680
NCCPL (U.S $ in million)
FIPI (15-Dec-2010) Local Companies (15-Dec-2010) Banks / DFI (15-Dec-2010) Mutual Funds (15-Dec-2010) NBFC (15-Dec-2010) Local Investors (15-Dec-2010) Other Organization (15-Dec-2010)
4.40 3.78 0.37 -2.20 -3.52 -2.61 -0.22
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 Dow Jones
Close 11,786.09 10,303.83 22,714.85 19,864.85 2,715.55 2,893.74 5,871.75 11,491.91
Change 113.45 7.46 46.07 217.08 0.53 4.40 9.37 7.34
GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)
$.Price PKR/Shares 2.60 111.42 21.50 184.28 2.00 42.86 1.70 36.43 10.79 36.99
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
01-Dec-2010 01-Dec-2010 01-Dec-2010 29-Nov-2010 15-Dec-2010 15-Dec-2010 15-Dec-2010 15-Dec-2010 15-Dec-2010 15-Dec-2010 15-Dec-2010 15-Dec-2010 15-Dec-2010 15-Dec-2010 15-Dec-2010
13.16% 13.39% 13.67% 14.00% 13.07% 13.40% 13.60% 13.95% 14.10% 14.16% 14.23% 14.26% 14.55% 14.73% 14.91%
Commodities Crude Oil (brent)$/bbl 91.67 Crude Oil (WTI)$/bbl 88.02 Cotton $/lb 150.12 Gold $/ozs 1,379.20 Silver $/ozs 29.13 Malaysian Palm $ 1,144 GOLD (NCEL) PKR 38,478 KHI Cotton 40Kg PKR 9,752
Open Mkt Currency Rates Symbols
Buy (Rs)
Australian $ 84.00 Canadian $ 84.00 Danish Krone 15.10 Euro 113.00 Hong Kong $ 11.00 Japanese Yen 1.010 Saudi Riyal 22.75 Singapore $ 64.30 Swedish Korona 12.10 Swiss Franc 86.75 U.A.E Dirham 23.25 UK Pound 133.00 US $ 85.55
Sell (Rs)
85.00 85.00 15.20 115.00 11.10 1.035 22.95 65.30 12.20 86.85 23.50 134.70 85.95
Inter-Bank Currency Rates Symbols
Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $
Buying TT Clean
Selling TT & OD
84.60 84.44 15.16 112.89 11.01 1.023 22.83 65.14 12.51 88.27 23.31 132.96 85.71
84.80 84.64 15.19 113.15 11.03 1.025 22.88 65.30 12.54 88.47 23.36 133.27 85.90
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Assange fears US extradition
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Deals with China hit $35bn
SCRA(U.S $ in million)
Total Portfolio Invest (3 Dec-2010)
TDAP sees Pak-China trade volume at $15bn
22 agreements, 17 MoUs signed; Gilani, Jiabao witness signing ceremony
Portfolio Investment Yearly(Jul, 2010 up to 14-Dec-2010) Monthly(Nov, 2010 up to-14-Dec-2010) Daily (14-Dec-2010)
Zardari summons Parliament session tomorrow
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani addressing during Pakistan-China Business Cooperation Summit. Chinese Premier Wen Jiabao also present on the occasion.-APP
Jiabao addresses joint session today Special Correspondent/ Agencies ISLAMABAD: China and Pakistan concluded another 15 billion dollars' worth of deals Saturday -- taking the total worth of deals to $35 billions - the latest signings on a tradefocused trip to South Asia by Chinese Premier Wen Jiabao. Wen and his Pakistani counterpart Gilani presided over a
ceremony where business leaders inked 22 agreements and 17 memorandums of understandings. According to a list handed out to journalists, the biggest deal was $6.5 billion to develop wind and solar power. Boosting trade and investment have been the main focus of the first visit in five years by a Chinese premier to the nuclear-armed Muslim nation on the front line of the US-led war on al Qaeda. The Islamabad city administration declared Saturday a public holiday.
WikiLeaks continue to leak
Pak hailed Indian response on 26/11 NEW DELHI: A Pakistan High Commission official praised India for acting "responsibly and maturely" following the Mumbai terror attacks which killed 166 people, according to US official cables released by WikiLeaks. The official, whose name was deleted in the confidential cable, made the comments when contrasting New Delhi's reaction to the Mumbai attacks
to its response after the bombing of India's embassy in Kabul in July 2008. The cable dated December 1, 2008 and signed by then US envoy David C. Mulford, spoke of strong demands in the Indian media for retaliatory action against alleged terror camps in Pakistan after Mumbai. It quoted the Pakistani official as saying the Indian See # 15 Page 7
Pak-China Agreements
SECP terms MoUs as catalyst for mkts ISLAMABAD: The Securities Exchange Commission of Pakistan (SECP) has termed the memorandum of understanding (MOU) between Pakistan and China as a significant milestone in the development of the capital markets of both the countries. SECP Commissioner Tahir Mahmood said here Saturday that "The increasingly expanding securities markets today require cooperation among regulatory bodies of the capital markets at the international level for adequate protection of investor rights and the MOU is a step
towards building a strong cooperative arrangement between the SECP and the CSRC." He was commenting on the MoU which was signed between SECP and the China Securities Regulatory Commission (CSRC) to further enhance regulatory cooperation and information sharing between the two regulatory agencies. "The MoU is aimed at supporting the national economy and minimizing the risk that is usually involved in financial market transactions," he added. See # 16 Page 7
Jiabao inaugurated a cultural centre built as a monument to Pakistani-Chinese friendship, and hold talks with the country's opposition leader Nawaz Sharif and senior figures in the military. The 35-million-dollar Pakistan-China Friendship Centre offers the Pakistani capital a conference venue, theatre, cinema and space for multiple events. Wen said Chinese medics will provide 1000 Pakistani patients with free cataract surgery next year to mark the 60th anniversary of diplomatic rela-
MQM leaders meet Gilani today ISLAMABAD: The delegation of Muttahida Qaumi Movement (MQM) would meet Prime Minister Syed Yousuf Raza Gilani today (Sunday) to discuss changing political scenario and bitter statements of PPP leaders. According to sources, the MQM delegation led by federal minister for Overseas Pakistanis Dr Farooq Sattar would meet Prime Minister Syed Yousuf Raza Gilani today. The delegation would convey See # 17 Page 7
Forex reserves up at $16.41bn Staff Reporter KARACHI: Country's foreign exchange reserves rose to $16.41 billion in the week ending December 11, up from $16.39 billion the previous week, the central bank said on Saturday. Reserves held by the State Bank of Pakistan (SBP) rose to $12.69 billion from $12.65 billion in the week ending Dec 11, while those held by commercial banks eased to $3.72 billion from $3.74 billion, See # 18 Page 7
tions. "China-Pakistan friendship will last forever," he told a ceremony commemorating Chinese workers who died in the 1970s while building the Karakoram Highway, the main road to the Chinese border through the Himalayas. Furthermore, Pakistani Information Minister Qamar Zaman Kaira said the countries signed agreements and memorandums of understanding in fields ranging from energy to railways, from reconstruction to agriculture and culture. Kaira said China had promised to fund "all the energy projects of Pakistan," which he termed a "major breakthrough". Pakistan suffers from a debilitating energy crisis and produces only 80 per cent of the electricity it needs. "China will provide assistance in 36 projects in Pakistan to be completed in five years," he said. "Basically this is a five-year development plan." Although not specifically mentioned, behind-the-scenes talks are expected on China building a one-Gigawatt nuclear power plant as part of Pakistani plans to produce 8,000 megawatts of electricity by 2025 to make up its energy shortfall. See # 10 Page 7
Gilani, Jiabao vow to up strategic ties ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani and Chinese Premier Wen Jiabao held one-on-one meeting here on Friday and vowed to further strengthen their evergreen fraternal ties in diverse fields including trade, energy and technology.
Sharif urges China to aid Pak ecomony ISLAMABAD: PML-N Quaid, Mian Nawaz Sharif has called upon China to enhance and expand its participation in Pakistan's economic growth and development. Nawaz Sharif made this
ISLAMABAD: Three Services Chiefs on Saturday met with Prime Minister Wen Jiabao and discussed matters related to Pak-China Defense relations, regional situation, enhancing strategic cooperation, defense needs and other matters of
unmanned aircraft have killed many innocent people. The US does not acknowledge the missile strikes, but there have been more than 100 such attacks this year - more than double the amount in 2009. The lawsuit blew the American spy's cover, leading to threats against him and forcing the US to call him home, the officials said, speaking on condition of anonymity See # 12 Page 7
US shows patience over NWA offence ISLAMABAD: Ambassador Cameron Munter emphasised in a news conference at the US embassy that Pakistan's tackling of the militant sanctuaries on the Pakistan side of the border - considered crucial for stabilising Afghanistan - was a matter of capacity and not of will. "Yes, I believe that," he said when asked whether the United States believed the Pakistanis were sincere about going after the safe havens used by militants for years as places to rest and re-arm after carrying out
observation during the course of his hour long meeting with the visiting Prime Minister of China, Wen Jiabao, in Islamabad on Saturday afternoon. See # 8 Page 7
Services chiefs meet Jiabao, moot defence
CIA Pak chief recalled to US WASHINGTON: The CIA has pulled its top spy out of Pakistan after threats were made against his life, current and former US officials said an unusual move for the US and a complication on the front lines of the fight against al Qaeda. The CIA station chief was in transit Thursday after a Pakistani lawsuit earlier this month accused him by name of killing civilians in missile strikes. CIA airstrikes from
The two leaders who met here at the Prime Minister House, besides discussing the way and means on how to deepen the strategic bilateral relationship between Pakistan and China also exchanged views on See # 20 Page 7
attacks on Western forces. Munter spoke a day after the White House unveiled a review of President Barack Obama's year-old strategy to pour an additional 30,000 US troops into Afghanistan in an effort to check Taliban momentum and allow for a gradual drawdown of combat troops starting in mid-2011. A five-page unclassified summary of the review said foreign forces had made "notable operational gains" in Afghanistan, but reported uneven progress in See # 13 Page 7
mutual interest. Sources told that Chair Joint Chief of Staff Committee Gen Khalid Shamim Wynne, Army Chief Gen Ashfaq Pervez Kayani, Air Chief Marshall Rao Qamar Suleman and See # 9 Page 7
Drone attacks
60 killed in 24-hour in Khyber Agency KHYBER AGENCY: A series of US drone attacks killed around 60 alleged militants in a span of 24 hours in Khyber tribal district, according to officials. At least 50 people lost their lives in three unmanned air strikes in the Tirah Valley, a day after seven others were killed nearby, the BBC reports. See # 11 Page 7
Sattar phones Fazl KARACHI: Deputy Conveyer Muttahida Qaumi Movement Farooq Sattar on Saturday phoned Jamiat Ulema-e-IslamF chief Maulana Fazlur Rehman, media reported. Both the leaders agreed upon forging consensus and harmony on national issues, besides strengthening contacts between the two parties. The Islamic faction parted its way with the coalition government after Prime Minister Syed Yousuf Raza Gilani sacked one of its three ministers, Azam Swati, and Minister for See # 14 Page 7
Yaum-e-Ashur observed with reverence Staff Reporter/ Agencies KARACHI: Yaum-e-Ashur, the 10th of Muharram ul Haram, was observed on Friday with religious fervor throughout the country, commemorating the greatest sacrifices rendered by Hazrat Imam Hussain (AS) and other martyrs of Karbala. Extensive security arrangements were put in place by the authorities to thwart any untoward incident as the faithful took out processions of Alam, Zuljinnah and Tazia. In addition to the heavy contingent of police and security
forces in the sensitive areas, forces kept patrolling the areas. The provincial governments had enhanced the security vigilance and for this purpose, security cameras were installed on all the main routes of the processions besides, walk through gates were installed for those joining Majalis. Hazrat Imam Hussain, the grandson of Holy Prophet Hazrat Muhammad (S.A.W) and his family sacrificed their lives for the cause of Islam. In the federal capital, SP Rural Umar Hayat told that all the processions in the rural areas of Islamabad ended
peacefully after covering their traditional routes. In Rawalpindi, the main procession of Alam, Zuljinnah and Tazia were taken out from Imambargah Colonel Maqbool Hussain. After passing through its traditional route, it was terminated at Imambargah Qadeemi in the evening. In Karachi, the procession of 10th Muharram-ul-Haram culminated at Kharadar's Husainian Iranian on Friday evening. The procession which was taken out after Zohar prayers from Numaish Chowrangi by the mourners reached Kharadar peacefully
after passing through its traditional routes. The procession was provided full security by the police and personnel of law enforcement agencies. ISLAMABAD: President Asif Ali Zardari has felicitated Interior Various political parties and Minister Rahman Malik, the law enforcing agencies and the NGOs had specially set up provincial police of all provinces for ensuring peace on Ashura. camps to provide assistance to In a message the President said that the police and law enforcthe mourners while ambulance ing personnel demonstrated remarkable professionalism, courage services were also on alert all and sense of duty to thwart any untoward incident on Ashura. along the routes. "They deserve the appreciation of all of us", he said and The Pakistan Rangers (Sindh) expressed the hope that they will continue to demonstrate the same and Police took special security degree of professionalism and sense of duty in future as well. -APP measures and frisked all the visitors who wanted to participate zeal as Zuljinah processions were made for protecting the were taken out from different mourning processions and in the mourning procession. Majalis. In Lahore, the Yaum-e-Ashur localities amid tight security. Strict security arrangements See # 19 Page 7 was observed with religious
President felicitates LEAs for ensuring peace
2 Ebad praises efforts for peace KARACHI: Governor Sindh Dr Ishrat-ul-Ebad Khan on Saturday thanked God for peace in Karachi and other parts of Sindh on the occasion of Youm-eAshura, 10th of Muharram. In a statement, he praised Sindh rangers, police and law enforcement agencies for taking foolproof security arrangements and ensuring peace. He also hailed religious scholars and the people of the province for their praiseworthy role in maintaining law and order. People belonging to different schools of thought expressed tolerance, brotherhood and mutual understanding and foiled the ulterior motives of the enemies of the country, he said.-PPI
Sunday, December 19, 2010
SCCI pins hope on Jiabao’s visit
LAHORE: The Vice President SAARC overcome electricity shortage being witChamber of Commerce & Industry nessed by the country in last many years. (SCCI) Iftikhar Ali Malik has said that He said that up to 20 billion dollars the visit of Chinese Prime Minister Wen worth of projects with Chinese help Jiabao will user in a new era of progress have been completed in Pakistan. Work and prosperity for Pakistan. on projects of 14 billion dollars is conAccording to press release issued here tinuing at present while projects of on Saturday, Iftikhar Ali Malik said that another 20 billion dollars have been the agreements signed by the private signed between the two sides during sector of both the countries would help the visit. strengthen economy while the region He said at present Pakistan is China's would see a lot of new activity in com- second largest trading partner in South ing years. Asia and China is Pakistan's third largest The SAARC CCI Vice President said trading partner, third largest import that about 20 agreements and source and fifth largest export market. Memorandums of Understandings Iftikhar Ali malik said that both (MOUs) in areas of economy, energy countries are good neighbors and and communication have been signed by have marched ahead through thick the two sides that will help overcome and thin and stood the test of time. hurdles coming in the way of economic He said the relationship had gone revival of the country. beyond bilateral ties and moved into He said that the formation of energy strategic sphere. working group would enhance cooperaHe said that Chinese support in agrition in oil, gas, coal and conventional culture, infrastructure and energy on suspower sectors. He said that the signing tainable and durable basis would be of agreement for construction of flood- doing miracle for the Pakistani economy. ravaged areas is an ample proof of He hoped that in the coming years, folChinese love for Pakistani people. low up meetings would further cement He said that the interest shown by their ties between the two countries for Chinese company generating electricity even a brighter future of their strategic KARACHI: "Do not wait from Thar's coal reserves would help partnership.-Online for someone else to come and change things, if you know that there is some thing wrong, stand up and do what you can to mend it", were the words of a entrepreneur at the the second session of the Jago and Jagao series entitled "Afrad KARACHI: The newly and strengthened our should strive for increaske hathon mei hai aqwam appointed Council bilateral times the SL ing the current level of ki taqdeer". General of Sri Lanka to diplomat said adding that trade to $500 million or The youth gathering was Karachi, D W Jinadasa he would continue with even $1 billion within held at safari park here on has said that bilateral the efforts made by his next five years, Jinadasa Saturday. trade between Sri Lanka predecessors. said adding that given the Many students from difWhile talking to the special characteristics of ferent colleges and univer- and Pakistan is likely to sities participated and double from Rs.28bn to Daily Mail, the SL our cordial relations, posDiplomat said that total itive economic fundashared their view of how Rs55.5bn by 2015. "Politically and eco- trade turnover which was mentals and keenness at they intend to take personal responsibility and play nomically, our ties are US dollars 158 million in the highest level folsound and are growing 2005 has increased to US lowed by close proximitheir part.-PR from strength to strength. dollars 252 million in ty, I strongly feel that this The signing of the Free 2009 which is quite target is within our reach. trade Agreement in 2002 encouraging but he, how"I will extend every and its implementation in ever, said that the real possible support to the 2005, were significant potential of bilateral local as well as Sri milestones in our bilater- trade is yet to be Lankan stakeholders to al relations. It has further explored. boost the bilateral trade", TV PROGRAMMES consolidated, enhanced Both the countries Jinadasa assured.-Online
KUMAK session held to empower youth
Pak-SLanka trade to excel in 5 years
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) 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 Naram Garam 20:05 The Reema Show 21:00 News 22:03 Faisla Aap Ka 23:00 News 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
ISLAMABD: President PML Like Minded Group Saleem Saifullah Khan posing for a group photo with the participants of Doctrine of National Development Program in Islamabad. -Online
Pak, France ink deal to enhance education ISLAMABAD: The Pakistan Science Foundation and the Academie Des Sciences, France has signed a Memorandum of Understanding (MoU) to improve teaching and learning of science at primary and secondary level. Jean Salencon, President Academie Des Sciences, France and Dr Manzoor Soomro, President Pakistan Science Foundation signed the MoU on behalf of their respective organizations in Paris the other day. The MoU is aimed at ensuring to disseminate inquiry based teaching at Primary and Secondary levels supported by science education in order to foster the capacity of both the countries to acquire skills and other necessary elements for good understanding of nature and reality. It will also provide research support mechanism in order to create science awareness.-NNI
Message of Qatar CG
Qatar celebrates
national day On the occasion of National Day of Kingdom of Qatar, the Consul General of Qatar in Pakistan Rashid bin Abdul Rehman Al Naimi extends his well wishes to people of Qatar and the brethren living in here. He marked the accession of Sheikh Jassim bin Mohammad as the founder of the State of the Qatar to the rule of the country. He said; "On this momentous occasion I avail this opportunity to extend my heartfelt felicitations to Sheikh Hamad Bin Khalifa Al Thani, Emir of the State of Qatar, Sheikh Tamim Bin Hamad Al Thani, Heir Apparent, Sheikh Hamad Bin Jassem Bin Jabor Al Thani, Prime Minister & Minister of Foreign Affairs of the State of Qatar, Dignitaries of Qatar Government and Qatari Brethren.
I also wish to congratu-
late on the occasion of Qatar winning the Bid to host the 2022 FIFA World Cup. At the outset I would also like to express my gratitude to our Pakistani brethren and government of Pakistan for their hospitality and affection that is always display. I also find it imperative to underscore the existing historic and cordial relations between the two nations based on the spirit of brotherhood and cooperation.
KU to revise semester exam schedule KARACHI: The high power review committee of the University of Karachi will revise semester examinations schedule. This was stated by Registrar of the University, Prof Kaleem Raza Khan, on Saturday. He announced that a meeting of the high power review committee will be arranged to assess the semester examination schedule and that the revised schedule will be announced on Monday. He further stated that the students will appear in the examination as per the revised schedule. Moreover, the Deans will supervise the examinations and will ensure the presence of the chairpersons and concerned teachers for the safe and peaceful environment during the examinations. The revised Academic Calendar for 2011 will also be announced on Monday.APP
Sharmila lauds security steps KARACHI: Advisor to Chief Minister Sindh on Information Sharmila Faruqui paid rich tributes to the Home Minister Dr Zulfiqar Mirza, IG Sindh, DG rangers and personnel of law enforcement agencies for maintaining law and order situation in Moharram-ul-Haram. In her statement issued here Saturday, she said that religious scholars and the people of the province were also praiseworthy for maintaining law and order in the month of Moharramul-Haram. She said that on the occasion of Ashura all people belonging to different schools of thought expressed their tolerance, brotherhood and mutual understanding and made the ulterior motives of the enemies of the country failure. She said that Sindh government made strict security measures to maintain law and order in Sindh and the coordination between the departments were very effective and on the directives of chief minister and home minister, command and control monitoring cells were established in the office of CCPO Karachi and the home department, besides a monitoring cell in chief minister's house which was monitored by chief minister himself. Emergency was also declared in all hospitals of the province.-PPI
Remembering the Martyers
KARACHI: Shiite Mourners chant slogans against violence in Moharam-ulHaram in Pakistan and US & Israel slogans during afternoon prayers in Ahura Procession in Karachi. -Online
KARACHI: Paramilitary Troops moving in front of Ashura Procession in Karachi. Muharram is the mourning month in remambrance of the Shahdat of Imam Hussain (R.A.) the grandson of the Holy Prophet Muhammad (PBUH). - Online
Minister slams IMF,WB policies KARACHI: Sindh Minister for Industries and Commerce Abdul Rauf Siddiqui on Saturday criticised the oppressive policies of international lenders, saying implementing the policies of International Monetary Fund (IMF) and World Bank (WB) would snatch two-time meals from the poor and enhance price hike. Addressing to officers and employees of SITE Limited, he said the antipoor policies would not be accepted. He said the brave decision of MQM chief Altaf Hussain on the Reformed General Sales Tax (RGST) is mirrors the aspirations of whole nations. He said that levying of the RGST would not be supported at any cost, adding it would prove a cruel lash on the backs of poor and distressed people.-APP
KARACHI: Pakistani Shiite Mourners perform religious rituals during Ashura Procession in Hyderabad. Muharram is the mourning month in remambrance of the Shahdat of Imam Hussain (R.A.) the grandson of the Holy Prophet Muhammad (PBUH). - Online
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Sunday, December 19, 2010
Mobile Prices Updated on 18 December, 2010
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Tech cos set up shop at Google Ventures
A
small team has toiled away since early October in a quiet corner of Google Inc's sprawling campus in Mountain View, CA on a project related to the discovery of human antibodies. The group is not part of Google, and has nothing to do with Google's flagship Internet search business. But Google has provided the team -part of the secretive New Hampshire-based biotech company Adimab -- with a workspace fitted with topnotch amenities, including highspeed Internet access, conference rooms, even a pingpong table. Adimab and four other companies are among the first tenants of the new Startup Lab managed by Google's venture capital arm. The lab represents the latest expansion of Google Ventures, the search engine's $100-million-a-year fund which launched in March 2009, providing Google with an opportunity to chase the big financial payoffs that can come with venture investing while helping it build ties to the fast-paced world of start-ups. The on-campus lab is designed to let young companies funded by Google Ventures draw from the deep well of resources within the world's No. 1 Internet search company. Google
staffers offer tips on anything from product design to recruiting, while also providing the startups with an instant Silicon Valley presence, said Bill Maris, managing partner of Google Ventures, in an interview at Google's headquarters earlier this month. And with growing competition to fund the youngest, early-stage start-up companies, Google Ventures wants to set itself apart from other venture firms and angel investors. "We plan to be very active in 2011 in the seed space," said Maris, referring to the funding of earlystage companies. "Startup Lab is an expression of that interest." T h e 15,000square foot facility can accommodate 100 to 120 people, and is composed of equipment that Maris and Google Ventures Partner David Krane pulled together over the summer. The pair found a vacant building owned by Google and furnished it with desks inherited from Google's acquisition of mobile ad firm AdMob. The lab's 1-gigabyte broadband network is separate from Google's corporate network so it can provide a layer of separation and privacy for the labs' tenants.
Nokia Siemens buy of Motorola network ops wins EU nod
Skyfire 3.0.1. hits Anroid Market
A
s you probably know, Skyfire is one of the most popular mobile browsers on Android Market, and we're pleased to okia Siemens announce the latest version Networks won EU of Skyfire has been released regulatory approval on Wednesday to purchase Motorola's mobile telecom network equipment business for $1.2 billion, in a deal meant to boost its presence in Japan and North America. The acquisition could help Nokia Siemens Networks -- a joint venture of Nokia and Siemens -- to better compete against rivals Sweden's Ericsson, China's Huawei and France's Alcatel-Lucent. The European Commission, that offers some great feathe EU competition watch- tures to its users. dog, said the respective prodLatest version of Skyfire is uct portfolios had little over- version 3.0.1 comes with lap and that the Motorola various bug fixes, but business being bought only besides fixes, this version had a limited presence in the features a support for SD European Economic Area. memory card slot. Of course, "Furthermore, the the latest version of this Commission found that the browser can easily send combined entity would con- anonymous logs if something tinue to face a number of large and effective competitors," it said, pointing out that the market for mobile network equipment operated on a bidding basis, with sophisticated buyers.
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goes wrong and developers are hoping that this will help them to fix more bugs in the future. In addition, download workflow is now included as well, and notification will
show up in the system tray for downloads. Another feature that we have to mention is the ability to upload files from within the web browser with Skyfire for Android. Overall, version 3.0.1. of Skyfire browser has some nice improvement to offer. As for requirements, Android 2.2 or later is required.
Chrome PC may see muted Buyers ignore 3D, Internet TVs demand in China
F
ancy new features like 3D screens and Internet connectivity have failed to inspire U.S. television shoppers, dashing a hopedfor recovery in the global consumer electronics industry. Manufacturers such as Sony Corp, Samsung Electronics Co Ltd and Sharp Corp are learning that features such as razor-thin LED TVs are just not enough for television sales to stage a comeback in the United States. On Tuesday, Best Buy Co Inc Chief Executive Brian Dunn told analysts that sales of 3D TVs had fallen behind industry expectations. "There was confusion about 3D early (on)," Dunn said. "It was a little short on content." The largest U.S. electronics
chain cut its full-year profit forecast, and its disappointing results put pressure on shares of Best Buy and other
today," said Frank Ingarra, a co-portfolio manager of Hennessy Funds, which holds 32,000 shares of Best Buy.
electronics companies. "The stock got killed
The retailer's shares dropped nearly 15 percent on Tuesday
to close at $35.52. Despite a better-thanexpected performance by U.S. retailers in November, consumers are holding off on bigticket purchases like TVs with the latest bells and whistles. Consumer electronics executives say TV sales will improve once more 3D content becomes available next year and when consumers start recording their own content on 3D-enabled camcorders. "Just like how high-definition TV started in sports and movies, as 3D evolves, it will go with sports and movies and then become more of an everyday thing," Jay Vandenbree, head of home entertainment at LG Electronics USA, said in an interview.
Second Windows Phone 7 update to hit market in February 2011
T
he wheel is rolling. Microsoft first released the Windows Phone 7 and now it is all set to roll out updates on regular basis for Windows Phone 7 probably after understanding the user experience. If news from developers is to be believed then Microsoft is already working on the second Windows Phone 7 update which should be available somewhere in February 2011. If things go as planned then Microsoft will unveil the sec-
ond Windows Phone 7 update in Mobile World Congress to
be held in February 2011. The best part of this news is that nobody is sure of the first Windows Phone 7 update and news for the s e c o n d Windows Phone 7 update has already started to creep in. The second Windows
Phone 7 update will bring with itself improved multi-tasking support with in-app downloads and plenty of customization options for the end user. Though we are not sure of what will be the enhanced multitasking support and other customization options but we are rest assured that Microsoft needs to come up with something that pops out of the screen of every Windows Phone 7 if they want to fight with the likes of Blackberry, Apple and Android.
G
oogle Inc's new Chrome PC may meet with chilly demand from China as tensions between Beijing and the search giant curb the latter's offerings and as netbook sales slowly fall off the cliff in the world's second largest PC market. Google's laptops, promote Web-centric computing where people use online applications instead of software loaded onto PCs, are expected to ship in the middle of next year. But the focus on cloud computing and Google's tussle with Beijing earlier this year over censorship and hacking could make it difficult for the operating system to replicate the success of Google's mobile Android system in China. Analysts expect Google's Android mobile operating system to become the dominant mobile OS in the future in China. Currently ZTE Corp, Lenovo and the Chinese telcos have released and sold thousands of Android smartphones in the Chinese market. Yet analysts don't see a similar take off for the Chrome PC. "Chrome may be as strong as Android from a technology perspective but from a user behavior standpoint, the adoption of netbooks is losing momentum," said Felix Liu, an IDC analyst based in Beijing. Netbooks are smaller, cheaper laptops that are designed for portability and web-surfing. Although Google's laptops aren't sold as netbooks, they will be in competition given its focus on the Internet and portability. Chrome adoption in China may be slow because of pricey 3G data plans in the country and the fact that many of Google's cloud products such as Google Docs and its photo
editor are occasionally inaccessible in China. "There is no guarantee that any of those services will be continually available in China. In the middle of 2010, some people were dumping their Gmail accounts because they were afraid they would lose those accounts due to the government's unexpected behavior," Liu said. Google scaled down its China operations this year after a high profile spat with Beijing over censorship and after a serious hacking episode. Google Maps and YouTube are not available in the country and its Chinese search page is now redirected to a Google Hong Kong search page. "In the past, Microsoft integrated a lot of products into its Windows OS. Is Google going to do the same -- incorporate its search bar, etc? If they do so, they will face problems," said Edward Yu, chief executive of Analysys International. China is a fast-rising PC consumer. Chinese PC unit shipments rose 23 percent to 69.5 million units this year while U.S. PC unit shipments rose 5 percent to 71 million units, according to Gartner data. PC majors are ramping up investments in the country and diversifying their product offerings to whet the appetite of the rising Chinese consumer. Dell, the No. 2 PC brand in China, told Reuters on Tuesday it will focus on corporate customers in Beijing and Shanghai, while simultaneously expanding its presence in smaller cities. Acer, the world's No.2 PC vendor, expects its China operations to make up more than 20 percent of its total sales in five years, helped by new tablet PCs and an alliance with China's Founder Technology.
Latest Gadgets iFlash adds a new dimension to your pics
DJ with colored plastic squares We have reported on a lot music-making gadgets before, such as the Beamz Interactive, the Loopz, and this one that creates music with some colored Lego blocks. This is quite an interesting way of playing electronic music from a design student named Ryan Raffa. It works using an overhead camera and what looks like an area marked by circular light.
Check out EyeWriter Version 2.0 Some of you might remember the story of Tony Quan, an LA Graffiti artist who lost his ability to perform his talent due to Amyotrophic Lateral Sclerosis (ALS). Technology helped him regain his talent with EyeWriter glasses connected to the CPU of a laptop. This EyeWriter enabled Tony to move his eyes, and special dual projectors create an image.
The iPhone 4 itself is a pretty good photo taking device on its own, but what happens when you're in a low light situation? This isn't a dedicated digital camera, so it doesn't have a built-in flash for you to play around with. Fret not, as there is hope in the iFlash, aÂŁ19.99 purchase that helps you to illuminate any poorly lit areas and take better photographs.
Dynamic Eye works on LCD sunglasses Sunglasses are not only meant to help you look cool in the sweltering heat just in case you haven't realized, but they play a very important role - which is to make sure your eyes do not get more UV rays than they need especially when you are in the great outdoors. Of course, wearing a pair of shades that are well designed will also add to your stylish looks, but that's besides the point.
Pajamas Warming Pouch Since winter is upon us, there is nothing quite as heart warming as a warm pajamas during a cold night. Heck, if you happen to work from home, then you can also wear your pajamas all day long until lunch time, who is there to find out? Of course, most, if not all, pajamas do not come with some sort of heating element, so how else are you going to slip on something warm and toasty? The answer lies in the Pajamas Warming Pouch.
4 Sunday, December 19, 2010
The Financial Daily International
MARTYERS ' DAY
Vol 4, Issue 127
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
Sabotaging on both sides of border Whenever the government apprehends involvement of foreign hand in any terrorist act, the immediate reaction is 'transfer of blame to an unidentified culprit for face saving'. However, when a ban outfit undertakes activities, both in Pakistan and Iran, it becomes easy to understand that its strings are being controlled by a common enemy of the two countries. Pakistan must listen to what Iran is saying. Hossein Ebrahimi, Deputy Chairman of the Majlis (parliament) Committee on National Security and Foreign Policy admonished Islamabad for its failure to strangle the flow of terrorists, suspected of receiving military training inside Pakistan, otherwise these groups could threaten Pakistan's own existence. Pakistan must heed to what the immediate neighbor is saying. Senior Iranian lawmaker Alaeddin Boroujerdi said, "Past experience has proven that US and UK intelligence services are behind crimes such as the Wednesday morning blast in Chabahar. Iranian Deputy Interior Minister Ali Abdollahi also said the Chabahar terrorist attack was supported by regional and US intelligence services. "The equipment and backup of the terrorists behind the attack indicate that these individuals were supported by advanced regional and US intelligence services", said Abdollahi The terrorist group Jundallah has claimed responsibility for the terrorist attacks. The banned outfit maintains a base in Balochistan, Pakistan and has carried out numerous bombings, assassination attempts, and terrorist attacks in Pakistan as well as Iran. Its leader Abdolmalek Rigi was arrested by Iranian intelligence forces in February 2010 and executed in June. Contrary to the Iranian claim, Jundallah insists it is fighting for the rights of the Sunni ethnic Baluchi population of southeastern SistanBaluchestan province of Iran. However, some analysts say the province lies on a major narcotics smuggling route from Afghanistan and Pakistan to Europe and Iran is involved in a tough battle with the drug-traffickers. Therefore, it becomes responsibility of Pakistan and Iran to cooperate with each other in the best possible manner to eliminate a common enemy. Since both the countries are fully aware of the powers, providing supports to Jundallah at no point in time they should point fingers at each other. Both the countries are also aware of the forces working for independent Balochistan comprising of Iranian and Pakistani Balochistan provinces. The forces have failed in dividing Iraq, Afghanistan and Pakistan on sectarian grounds but hope to achieve their objective one day. The whole world is witness that the UN and the super powers have not resolved Kashmir and Palestine issues in five decades but were prompt in axing East Temore from Indonesia and now at set to divide Sudan.
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.
Syed Zahid Hussain Bukhari
I
mam Hassan and Imam Hussain, the sons of Hazrat Ali (AS) grandsons of Prophet Muhammad (PBUH), who loved his both the grandsons very much. During their early childhood, both brothers were seen most of the time in the lap and on the shoulders of Prophet, they even got on the back of Prophet while he used to be in Sajdah. It is also reported with references that Prophet Muhammad (PBUH) said that both Imam Hassan and Imam Hussain will be masters of the youth of Paradise and whoever love them will be blessed, whereas whoever hate Imam Hassan and Imam Hussain will not be blessed. It is reported that Imam Hussain (AS) was born on 3rd Shaban 4th AH and 10 January 626 CE. One of the important points of the treaty made between Imam Hassan (AS) and Muawaiyah was that Muawaiyah will not designate any one as his successor after his death and the decision will be left to the Ummah (the Nation). But after the death of Imam Hassan (AS), Muawaiyah's thinking changed as no one was courageous enough to object his
decision as the Caliph, and designated his son, Yazid as his successor in 680CE, literally breaking the treaty. When Yazid became the Caliph, he forced Imam Hussain (AS) to pledge allegiance to him, but Imam Hussain (AS) refused and migrated from Medina. Imam Hussain (AS) left Medina with his sisters, daughters, sons, brothers, and the sons of Imam Hassan, the house of Al-Bayt. Imam Hussain (AS) reached Mecca and stayed in the house of Abbas Ibn Abd Al Muttalib and remained there for four months. When Imam Hussain (AS) came to know and realized that Yazid's rule was not only oppressive, but also religiously misguided. And survival of the Islamic community depended on the reestablishment of the correct guidance. Imam Hussain (AS) also believed that the succession of Yazid was an attempt to establish an illegitimate hereditary dynasty. Imam Hussain (AS) had news from Kufa and other part of Islamic state, that how Yazid and his subordinates are trying to change the true order of Islam for the sake of their own self interest. Imam Hussain (AS) got much worried and as his grandfather's Islam was been mutilated, and he though that the time has come to safeguard the true sprit and laws of Islam even at the cost of his and his family's lives. Imam Hussain (AS) discussed the situation with his family members and told all of them that their lives may be at stake to save religion Islam and its sprit with laws as stated by Allah and His Prophet Muhammad (PBUH). The entire Imam's family members replied affirmative and said that all will follow Imam Hussain (A.S) under all circumstances what so ever.
Then there were invitations requesting Imam Hussain (AS) to come to Kufa for his guidance. It has been the view of all that Imam Hussain (AS) left Mecca along with his family towards Kufa for the sake of to keep the religion Islam intact, as it was during his grand father's days. And for that even at the cost and risk of his life and that of his family members and other loved ones, Hussain Ibn Ali headed towards Kufa to fulfill the responsibility of the bearer of Imamat to fulfill his destiny as was prophesied by his grandfather, Muhammad (PBUH). Imam Hussain (AS) camped in Karbala facing a large army of Yazid against him. On 7th of Moharram the water in Imam Hussain (AS) camp was finished. Imam Hussain (A.S) requested Ibn Ziyad's army to allow him and his family member's access to water, but his request was denied. Imam Hussain (AS) sent his brother Abbas Ibn Ali to the river to bring water, but Yazid's army fought with Abbas, cut off both his arms, and killed him. Imam Hussain (AS) also went to Ibn Ziyad's army and asked them to allow water for his six month old son, Ali Asghar, but the army launched arrows toward Imam Hussain (A.S), one of which killed Ali Asghar. At the Battle of Karbala it is recorded that seventy two people were killed. When Imam Hussain (A.S) clashed with Yazid's army, he said "... Don't you see that the truth is not put into action and the false is not prohibited? The believer should desire to meet his Lord while he is right. Thus I do not see death but as happiness, and living with tyrants but as sorrow." On 30th May, 680 (Muharram 10, 61 AH), he and his small group of his fol-
lowers and family members, who were between 72 or more, people of Imam Hussain Ibn Ali (the grandson of Muhammad), fought with a large army under the command of Umar Ibn Saad, son of the founder of Kufah. Imam Hussain (AS) and all of his men were killed and beheaded. The bodies were left for forty days without burial and survivors from Imam Hussain's family were taken as prisoners to Al-Sham (Syria and Lebanon today) to Yazid. Part of his speech on Ashura "Behold; the illegitimate, son of the illegitimate [by birth], has settled between two, between unsheathing [the sword] and humiliation, and how impossible is humiliation from us! Allah refuses that for us, and his messenger, and the believers, and laps classified and purified, and zealous noses [expression: heads that do not bow in humility], and repudiating souls [who repudiate / refuse oppression], that we desire obedience to the mean ones, than the killings of the honorable [martyrdom]. Behold that I move slowly with this family, despite the little number and deserting of helpers." Today, the death of Imam Hussain Ibn Ali is commemorated during Muharram by Muslims, with the most important of these days being its tenth day, Ashura. Day of Ashura is commemorated as a day of mourning for the death of Imam Hussain Ibn Ali, the grandson of the Islamic prophet Muhammad at the Battle of Karbala. In some countries and regions such as Iran, Iraq, Pakistan, India, Bangladesh, Bahrain, Trinidad and Tobago and Jamaica Commemoration of Imam Hussain (A.S) Ibn Ali has become a national holiday and all ethnic and religious communities participate in it.
Familiar faces of Maliki cabinet H
ussain al-Shahristani will be reappointed Iraqi oil minister when a new cabinet sworn in on Monday, senior officials said, keeping in place the architect of plans to turn Iraq into a top global oil producer. Foreign Minister Hoshiyar Zebari, a Kurd, also will remain at his post but a final selection of a new finance minister had not yet been made, sources close to Shi'ite Prime Minister Nuri alMaliki said. Shahristani, a Shi'ite, led the oil ministry as it set Iraq on an ambitious path to boost its production capacity to 12 million barrels per day in the next six or seven years, rivaling global leader Saudi Arabia, from 2.5 million bpd now. Analysts say target of 6-7 million bpd is more realistic. Shahristani will be a key member of Maliki's new cabinet as Iraq tries to rebuild damaged and neglected infrastructure more than seven years after the US-led invasion that ousted Sunni dictator Saddam Hussein and touched off sectarian warfare that killed tens of thousands of people. Iraqis have been waiting for a new government for more than nine months since a March parliamentary election that failed to produce a clear winner and displayed the depth of Iraq's ethnic and sectarian divisions.
After months of squabbling over positions and power, the main Shi'ite, Sunni and Kurdish factions reached agreement last month on dividing up the top government posts. Shahristani, a nuclear scientist who oversees the ministry that delivers about 95 per cent of Iraq's federal revenues, will return to the job he started in 2006.
would give him enough influence, a senior member of Maliki's negotiating team said. "The prime minister has a desire to let Shahristani be deputy prime minister for power affairs but Shahristani thinks that the minister will be the owner of the final decisions in his ministry," the source said. Shahristani's return amounts to a
Shahristani, a Shi'ite, led the oil ministry as it set Iraq on an ambitious path to boost its production capacity to 12 million barrels per day in the next six or seven years, rivaling global leader Saudi Arabia, from 2.5 million bpd now. "The minister of oil will stay in his place as the minister of oil," said Abdul-Hadi al-Hasani, an official with Maliki's coalition and a former deputy leader of parliament's oil and gas committee. Other senior sources, including one close to Shahristani, confirmed that he would return as oil minister rather than take a post as deputy prime minister in charge of energy affairs. Shahristani did not think the new job
pledge to oil companies to honor contracts to develop Iraq's vast oil reserves. BIG GOVERNMENT Maliki intends to name a cabinet expected to include 42 posts including three deputy prime ministers. The jobs are being divvied up among Shi'ite, Sunni and Kurdish factions according to the seats they won in the March election. Two of the most prominent Kurds in
the government's inner circle will be familiar faces: Zebari and Deputy Prime Minister Ross Nouri Shawis. "The ministry of foreign affairs is settled for Zebari and a deputy prime minister post is settled for Ross Nouri Shawis," said Mahmoud Othman, a senior Kurdish lawmaker. Still unsettled is the role of Iyad Allawi, the secularist Shi'ite former prime minister who led his cross-sectarian Iraqiya bloc to 91 seats in parliament, more than any other coalition. Under a power-sharing deal reached on November this year, he was expected to take the leadership of a national strategic policies council. But he has since wavered on whether to join Maliki's government and said on Friday he would take part only if he was given real power. Maliki has said the strategic policies council would be an advisory body. Senior officials said Maliki's announcement on Monday would not include security posts, including the interior minister, who has control of the Iraqi police; the defense minister, who controls the army; and the national security minister. Nominees for those sensitive posts have not yet been decided due to a dearth of qualified, independent candidates, officials said. Reuters
Afghan War
Kabul silent over Obama’s review A
fghanistan's leaders, overlooked in the summary of a "brutally honest" US war strategy review, did not offer any response to the long-awaited report on Friday in a sign of the often uneasy ties between Kabul and Washington. The five-page summary of the twomonth review, which did not mention Afghan President Hamid Karzai at all, was released on Thursday but has been criticized by Afghans and aid groups as overly optimistic. US President Barack Obama's review found Nato-led forces were making headway against the Taliban but serious challenges remained. It said the insurgents' momentum had been arrested in much of Afghanistan and reversed in some areas. Karzai, Obama's main ally in the war, was briefed about the contents of the review before the summary was released. While other Afghan politicians, aid groups and even the Taliban have criticized the report, Karzai remained steadfastly silent. Admiral Mike Mullen, Chairman of the Joint Chiefs of Staff, on a visit to Afghanistan, gave his support to Obama's review. He said the review included a dissection of relations
with Karzai but did not give any details. Karzai was criticized as a weak and erratic leader in US government cables released on the WikiLeaks website this month. "I can tell you this; the review just conducted was thoroughly, even brutally, honest. We looked at all aspects of this struggle," Mullen told a news conference in Kabul. Before the review's release, a statement from the presidential palace said Obama had telephoned Karzai to discuss the findings and the two leaders had agreed security had been improved in many areas but needed to be consolidated in others. Karzai's spokesmen did not respond to repeated emails and telephone calls on Friday. Obama and Karzai have had a sometimes-tense relationship and critics accuse the Afghan president of failing to clamp down on corruption and improve governance. Karzai also had a rocky relationship with Richard Holbrooke, Washington's special envoy to Afghanistan and Pakistan, who died this week. "TOO MUCH MILITARY FOCUS" The flaws in Karzai's government
have been highlighted by critics as a major obstacle to ending the conflict, with a lack of justice for ordinary people eroding military gains, a report from British think tank Chatham House said. Afghan politicians and aid groups working in the country also warned Washington's review had a narrow focus on military gains and did not substantively address some of the conflict's drivers, including corruption and insurgent havens in Pakistan. "There is always more pressure or more focus on the military side, while I think we forget the human part of life in Afghanistan which is delivering of services," said Fawzia Kufi, an outspoken member of parliament The review said the United States was on track to begin a gradual withdrawal of its troops -- now numbering about 100,000 in a total foreign force of 150,000 -- from July 2011, after a big military campaign in the Taliban's southern heartland. But it comes at the end of the bloodiest year since US-backed Afghan forces ousted the Taliban in 2001, with almost 700 foreign soldiers killed, two-thirds of them
American. Civilian casualties are also at record levels and once relatively peaceful northern and western parts of the country are seeing increasing violence. On Wednesday, the International Committee of the Red Cross (ICRC) said in a rare public statement worsening violence was making it harder than at any time in the past three decades -- in during which the country saw the battle against Soviet occupation and a brutal civil war -for aid groups to reach those in need. "We seem to be entering a more and more murky phase of the conflict," ICRC spokesman Bijan Farnoudi said in Kabul. The Taliban were also critical of the review on Friday, saying it ignored the reality of a spreading insurgency. "The review is aimed at creating baseless hope among nations," Taliban spokesman Zabihullah Mujahid said in an emailed statement, referring to countries with troops in Afghanistan. "The substance of these schemes and strategies do not coincide with the ground realities in Afghanistan."-Reuters
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Sunday, December 19, 2010
Spiral CT scans reduce smoker deaths S
creening smokers and former smokers for lung tumors using threedimensional X-rays reduced their risk of dying from lung cancer by 20 per cent, researchers said on Thursday. The study sponsored by the US National Cancer Institute is the first to show that people can be screened for lung cancer, akin to mammograms for breast cancer and tests for colon and prostate cancer. "Nothing has ever shown a 20 per cent decrease in mortality in this disease ever before. This is huge," said Regina Vidaver, executive director of the National Lung Cancer Partnership. The researchers said their findings could save thousands of lives. Lung cancer kills 1.2 million people a year globally and it will kill 157,000 people in the United States alone this year, according to the American Cancer Society. The trial of more than 53,000 current and former heavy smokers, aged 55 to 74, found the "spiral" CT scans apparently catch tumors before they have spread.
"To me this is a game changer," Vidaver said in a telephone interview. "We will have what breast cancer has now, which is a lot of survivors." The researchers have some caveats. They do not know whether the radiation from the CT scans may raise the risk of cancer, and they do not know what the study means for light smokers, younger people, or those who have never smoked. It is also possible the scans will turn up tumors that would never have killed the patients, and that some people will undergo unnecessary surgery if they are screened. It is not clear when or how guidelines for lung cancer screening could be drawn up, and until they are, insurers including government programs such as Medicare are unlikely to pay the average $300 cost of a scan. For the study, the middleaged and elderly smokers were scanned with either a spiral CT or a chest X-ray once a year for three years starting in August 2002. They were followed for five years.
The researchers waited until an independent panel could document a 20 per cent reduction in cancer deaths, or could determine that there was no significant benefit. As of last month, 354 people who got CTs had died of lung cancer, compared to 442 who got ordinary X-rays. This worked out to a 20.3 per cent lower risk of dying for the spiral CT group, and researchers stopped the study. EARLY DIAGNOSIS Caught early, lung cancer can be cured surgically, but it causes vague symptoms and usually is not diagnosed until it has spread. Only 15 per cent of lung cancer patients live 5 years or more. "No one should come away from this announcement believing that it is safe to continue to smoke," National Cancer Institute director Dr. Harold Varmus told a news conference. "This screening does not prevent lung cancer and it does not protect the large majority of subjects from death by lung cancer," Varmus said. Dr Bruce Johnson of the
The Hidden Health Risks of Food Dyes W
e are using much food dye in our daily dishes. That statistic isn't as surprising when you consider that since then food dyes have made more and more of our foods colorful-from breakfast cereals to ice creams. While natural colorants made from foods like beets are available, many manufacturers opt for synthetic dyes-which may have dangerous health consequences, particularly for children, according to a recent report from the Center for Science in the Public Interest. This is why the nonprofit Pakistan, consumerwatchdog group has asked the Food and Drug Administration to ban them. Such manmade food dyes appear in ingredient lists as a name of a color with a number following it: Blue 1 and 2, Citrus Red 2, Green 3, Red 3 and 40, Yellow 5 and 6. The three most widely used culpritsYellow 5, Yellow 6 and Red 40-contain compounds, including benzidine and 4aminobiphenyl, that research has linked with cancer. Research has also associated food dyes with problems in children including allergies, hyperactivity, learning impairment, irritability and aggressiveness. A US study published in Science found that when children who scored high on a scale measuring hyperactivity consumed a food-dye blend they performed worse on tests that measured their ability to recall images than when they drank a placebo. A 2007 British study found that children who consumed a mixture of common synthetic dyes displayed hyperactive behavior within an hour of consumption. (These children had not been diagnosed with ADD or ADHD.) The results, published in The Lancet, prompted Britain's Food
Standards Agency to encourage manufacturers to find alternatives to food dyes. In July 2010, the European Parliament's mandate that foods and beverages containing food dyes must be labeled as such went into effect for the entire European Union. ave a slight sensitivity to food dyes-and a smaller per centage are very sensitive. "We see reactions in sensitive individuals that include core ADHD symptoms, like difficulty sitting in a chair and interrupting conversations," says David Schab, M.D., M.P.H., assistant clinical professor of psychiatry at Columbia University and co-author of a 2004 meta-analysis that found food dyes promote hyperactive behavior in already hyperactive children. Even so, says Schab, this isn't the most compelling reason to give up food dyes. "Foods with dyes are often riddled with other nutritional problems, like excess calories and fat," says Schab, who points out that childhood obesity is a far greater public health concern. Bottom Line: If you're concerned, ditch the potentially dangerous synthetic dyes. Look for foods bearing the green-and-white USDA certified organic label, but be aware that foods labeled "made with organic ingredients" may still contain synthetic dyes. You can also check product ingredient lists for beet, carotenes, annatto, capsanthin (a paprika extract)-as all are natural colorants. Counterintuitively, the terms "artificial color," "artificial color added" or "color added" also indicate that nature-derived pigments were used since synthetic dyes must be listed by their names.
Dana Farber Cancer Institute in Boston, who is on the board of the American Society of Clinical Oncology, said he doubted most people would see the findings as a green light to smoke. "The majority of lung cancer diagnoses in the United States now are either in people who never smoked or in people who have quit," Johnson said. In 2006, Dr. Claudia Henschke of New York Presbyterian Hospital-Weill Cornell Medical Center caused a stir when she published a study saying that 80 per cent of lung-cancer deaths could be prevented through widespread use of spiral CT. Her ideas were controversial to start with and widely disregarded when other researchers found her work had been paid for by a tobacco company. Almost all advanced CT scanners can perform a spiral CT, and about 60 per cent of US hospitals have such a machine. Makers include General Electric Co's GE Healthcare Siemens AG, Toshiba Corp, Hitachi and Philips.-Reuters
Lower education level tied to heart failure risks T
he less education people have, the greater their risk of eventually developing chronic heart failure, a large new study finds. Researchers say lower education levels are basically a stand-in for people's overall economic condition, and that their findings add to evidence connecting poverty to heart disease. The results, they add, also suggest that heart failure prevention for lower income people needs to begin early in life. Heart failure is a chronic condition in which the heart can no longer pump efficiently enough to meet the body's demands, causing symptoms like fatigue, breathlessness and fluid buildup in the limbs. Coronary heart disease (blockages in the heart arteries) is the underlying cause of about half of heart failure cases. Other major causes include damage to the heart from uncontrolled high blood pressure or diabetes. A number of studies have found that people with lower incomes and less education have higher rates of coronary heart disease. But little has been known about their risk for heart failure. The new study, which followed more than 18,600 Danish adults for two decades, found that those with the most education -- more than 10 years of schooling -- were 39 per cent less likely to be admitted to a hospital for chronic heart failure than those with the least education, defined as fewer than eight years. Men and women whose education levels were in between also fell in between when it came to heart failure risk. They were 25 per cent less likely than less-educated counterparts to be hospitalized for the condition. The findings, published in the European Heart Journal, do not prove that lower edu-
cation, itself, is the reason for the elevated risks. However, the researchers did account for a number of lifestyle-related factors -- like participants' weight, smoking habits, cholesterol levels and
exercise levels -and found that there was still a link between education and heart failure hospitalizations. That, they say, suggests lifestyle does not fully explain the gap between the less-
and more-educated. One possibility, according to the researchers, is that people with less education and lower incomes are less likely to get early, aggressive treatment of heart failure or its risk factors, like high blood pressure and diabetes. Early treatment of those conditions -- or preventing them altogether through a healthy lifestyle -- is key, said senior researcher Dr. Eva Prescott of Bispebjerg University Hospital in Denmark in an email. Unfortunately, Prescott pointed out, there is a growing social divide worldwide in the very health problems that contribute to heart disease in general, including obesity, diabetes and smoking. So it will be necessary to head off those problems in young people in order to ultimately narrow the social gap in heart failure. The findings are based on 18,616 initially heart-disease-free Copenhagen adults followed since 1976. Over 21 years, 2,190 were hospitalized for heart failure. Of participants with the least education, 18 per cent of men and 15 per cent of women were hospitalized for heart failure. Those figures were 13 per cent and 6 per cent, respectively, among participants with the most education. Prescott said more research is needed to weed out the precise reasons that less-educated men and women are at greater risk of ending up in the hospital with heart failure. For now, she said, people need to be aware that heart failure is a preventable condition and the risk can be reduced by not smoking, eating a healthy diet, getting regular exercise and maintaining a normal weight.-Reuters
The art of a size zero pregnancy T
his title isn't intended to sound like a pompous declaration of having all the answers and nor is it meant to suggest that size zero is the best size to be. It is derived from the fact that our son's name is Zen and I happened to be among the lucky few who was back to my original size just a few weeks post delivery. Loads of people keep asking me, 'What's your secret? How did you shed the weight?' Since I'm a firm believer that every individual, pregnancy and baby is different, there are no generic rules, and I held off answering questions... but now almost five months into being a Mum, I realise that I may actually be able to help people who may be victims of the fear that some people create around pregnancy. You can only 'go back to being size zero' if you were size zero to start with, so this is more a rough guide to going back to your original pre-pregnancy weight. Remember this applies only to a normal, healthy pregnancy. If you have any complications or are advised bed
rest, this definitely doesn't apply. Our gynaecologist Dr Feroze Soonawala told us in our first meeting that 'pregnancy isn't an illness'. I was told to be normal, do everything I'd usually do, just with a few adjustments. Walk, don't run while exercising. Do yoga, but make sure your instructor knows you're pregnant and can guide you with what asanas are permitted and those that aren't. Do not start something new, just continue with what your body is used to. If you never did yoga before don't suddenly start. Do not eat for two - a foetus starts smaller than a little seed, it's hardly a dinner companion for a three course meal! This 'eating for two' is a myth and often the culprit for those crazy 30 kg weight gains some unfortunate women get stuck with. I was in the gym the morning I delivered! But if all's going healthy and well, you'd rather be exercising half an hour daily then simply lying
on your back. I'm not saying not to eat well, by all means do, just in moderation - one chocolate, not three. Similarly don't over exercise. I did half an hour to an hour of brisk
at least half an hour daily and do yoga thrice a week. So it was almost the same routine with the adjustment of walking and not running and no ab exercises and other asanas that
walking daily and yoga two or three times a week. Sometimes I swam. Before I was pregnant, I used to run
squeeze the tummy. Keeping fit and active during my pregnancy helped me have a normal
delivery. I'd be lying if I said it was painless or just slightly painful, oh no, it hurts! I kept resisting an epidural but eventually when the pain got unbearable, I took one. ClichĂŠd as it sounds, it's true that when you see, hear and touch your little baby, you forget all the pain. Having a normal delivery also enables you to be up and active soon after, so by visiting hours, I was walking all over the place. Next morning when my doctor visited me, he found me doing a few surya namaskars. Although surprised, he said if I was feeling up to it, there was no harm in getting back to what my body was used to. Three days after Zen was born, I was back to my daily brisk walks between diaper changing and feeds. Although I was doing light stretches and a bit of
yoga at home, I waited a month before getting back to class. Looking after a newborn, even with good help, keeps you on your toes. Especially if like me, being an enthusiastic first time mum you want to do everything yourself! Did you know that breast feeding can make you burn up to 600 calories a day? My secret to being back to size zero after pregnancy is a combination of exercising, eating right, breastfeeding, keeping on my toes with diaper changing, playing with Zen and the fact that years of exercise has helped me have a fast metabolism. It was also all those rule book ingredients (many of which are wonderfully elaborated on in every pregnant woman's bible, 'What to Expect When You are Expecting') that helped me get back into my jeans so quick! Then, and of course, the main ingredient was Zen (pun intended) being as calm and chilled-out as possible through it all and our little son Zen, who is the very reason I discovered this art!
6
Analysis & Feature
Sunday, December 19, 2010
OBAMA MAY GET POLITICAL BOOST FROM TAX-CUT DEAL WASHINGTON: US President Barack Obama gained an important political advantage from a tax-cut compromise with Republicans that should help his 2012 re-election campaign if it gives the economy a needed boost. The move to the center came at a cost. Obama's liberal base was left angered and demoralized by his agreement to extend Bushera tax cuts, even for wealthier Americans, and he will have to work to patch up relations. But the Republican rout of Democrats in Nov 2 congressional elections left Obama with little choice but to agree to a compromise with Republican snow rather than wait until next year when his opponents will have increased power. As a result, experts believe Obama helped his own prospects with independent voters as he prepares to set up his re-election campaign next year and look ahead to 2012. Congress gave final approval late on Thursday to the $858 billion package of renewed tax cuts and extended unemployment benefits that most analysts say should bolster the economy, but deepen the record deficit. "I think it's a win-win for him," said Ipsos pollster Cliff Young. "Setting aside all the reaction to it on the left, I think it was the best thing he could've done given
the circumstances. From an electoral standpoint, his chances of victory in 2012 really depend on a number of factors, but mostly it's about the economy." Obama's main challenge going into the new year will be to bring down the stubbornly high 9.8 per cent unemployment rate and bolster the fragile economy. But the deeper hole the tax package will dig in the the budget deficit gives Republican Tea Party activists ammunition to criticize him. White House officials say Obama has adjusted to the new political reality in the wake of the Nov. 2 elections which handed Republicans control of the next House of Representatives and increased their seats in the Senate, and that the tax deal was proof the two sides can work together. While unhappy at extending the tax cuts for the wealthy, they are pleased the compromise included a continuation of unemployment benefits and other items on the Democrats' wish list. "Our hope is that the Republicans will continue to see it in their interest to seek areas of compromise. Certainly we will approach it that way," said one official. "It doesn't mean there won't be some unbridgeable gaps. No doubt we will have fights. But I think it certainly shows that there is a capacity to work together on some important areas." MORE WINS TO COME?
With the tax deal done, the president may get more from the year-end legislative flurry than he expected. A likely victory on ending the ban on gays serving openly in the US military -- the "don't ask, don't tell" policy -- may help placate liberals. And a bipartisan agreement on renewing the START nuclear missile treaty with Russia seemed more likely after lengthy n e g o t i a t i o n s withRepublicans by Vice President Joe Biden, the former senator who has proved to be a valuable mediator with his colleagues on Capitol Hill. Andy Smith, a political science professor at the University of New Hampshire, said the tax-cut deal was proof of a 180degree shift by Obama, because he had argued against tax cuts for the wealthy in his 2008 campaign and throughout 2010. "It's an indication that he's willing to abandon his party in order to seek re-election," Smith said. White House spokesman Robert Gibbs argued the tax compromise was not about politics but about Obama making decisions on "what is best for the country, what is best for the economy, and not give up his values." "We've been very upfront that we got a better deal out of this than the other side did," he said. Republicans see the taxcut deal as the dawn of a
new day in Washington when they can force Obama to listen to their side, after feeling they were shut out of the White House during Obama's first two years in office. "If you want to ram 2,000page documents through Congress, that's going to be harder now," said a senior
Republican congressional aide. "If you want to work together and prevent tax hikes and reduce spending and get a handle on the debt, he's in a real good place to do that." How hard a challenge will Obama face in 2012? An NBC News-Wall Street Journal poll this week said
his overall approval rating was at 45 per cent and that he leads prominent Republicans in hypothetical head-to-head match-ups. Bill Galston, a Brookings Institution analyst who was a domestic policy chief for Democratic President Bill Clinton, said how the economy does in 2011 will go a
long way toward determining Obama's re-election prospects. "You don't need to know about American politics to know that a president's reelection prospects are affected significantly by what happens to the economy in the year prior to the election," he said.-Reuters
US insider trading probe casts shadow over ‘11 NEW YORK/ BOSTON: Some US money managers may find their New Year's Day hangover lasting well into 2011 as federal investigators step up arrests in a widening Wall Street insider trading probe. Legal experts say Thursday's arrest of three technology company executives on charges that they leaked confidential information to various investment funds is the start of what likely will be a series of arrests by federal prosecutors over the next few months. "I don't think there is any question that this will be a very long investigation," said
Andrew Stoltmann, a Chicago-based securities lawyer. "Prosecutors are now going after the lower tier targets in clear hopes that they can flip these people into ultimately giving them the top guys at certain hedge funds." One of those stockpickers now in limbo is Todd Newman, a portfolio manager at hedge fund firm Diamondback Capital Management. Newman was placed on a leave of absence soon after the offices of the Stamford, Connecticutbased firm were raided by federal agents on Nov. 22, according to sources who confirmed h i s identity.Diamondback,
could not be reached for comment at his suburban Boston home this week. Seven days after the raid, Diamondback told investors that the firm is not a target in the government's probe and that it had placed one person on leave. It did not name the employee in order to protect his privacy. The sources who identified Newman are familiar with the investigation but declined to be identified themselves because no charges have been filed against him. Newman joined Diamondback, whose assets under management are $6 billion, in 2006. Before joining the
Diamondback, Newman was a technology stock analyst in Boston with Tudor Investment Corp, one of the world's most prominent hedge funds. There is no indication that authorities are looking at anyone associated with Tudor, said people familiar with the matter. A Diamondback spokesman declined to comment. The hedge fund previously has said it is not a target of the federal probe. SHOT ACROSS THE BOW Diamondback was one of three hedge funds raided late last month by federal authorities as part of the investigation which is largely focusing on the alleged mis-
use of secret corporate information obtained by traders and analysts from technology executives who moonlight as paid consultants for socalled expert networking firms. The two other raided fund firms, Loch Capital Management and Level Global, also have said they are not targets of the investigation. Neither has suspended any of its employees. Federal prosecutors followed up the raids by serving subpoenas seeking a broad range of documents and trading records from hedge funds and mutual funds. The subpoenas, according to people familiar with the investigation, demanded
information about any work the investment funds did with expert network firms or a Portland, Oregon-based independent researcher John Kinnucan. Some of the hedge funds and mutual funds that received subpoenas include Balyasny Asset Management, Citadel, Janus Capital Group, SAC CapitalAdvisors and Wellington Asset Management. The flurry of subpoenas has sent some traders and analysts who relied on expert network firms scurrying to hire defense lawyers, said several lawyers who declined to be identified because their clients have not been charged
with any wrongdoing. One way to look at Thursday's arrests is as prosecutors firing a warning shot across the bow of the hedge fund and mutual fund industries, legal experts say. They note that the criminal complaint filed on Thursday makes clear that authorities have hours of secretly recorded conversations between some of the consultants and the traders and analysts who paid for their services. The criminal complaint also reveals that one of the government's cooperating witnesses is a former analyst with a hedge fund in New York. In all, prosecutors said
they had five cooperating witnesses, including Daniel DeVore, a former Dell Inc. global supply manager, who worked asconsultant for expert networking firm Primary Global Research. "There are users of expert networks, be they hedge funds or mutual funds, that have been known to put a good bit of pressure on the experts to give them more than what they know is permissible information," said Sean O'Malley, a partner with White & Case. "And anyone who put that kind of pressure on an expert should be very worried right now."Reuters
EU leaders miss opportunities to calm mkts BRUSSELS: Euro zone leaders have agreed on how to resolve debt crises from 2013, but failed to reassure markets about what they will do in the short-term, sticking to what the IMF has called a piecemeal approach to the crisis. At a two-day summit, leaders agreed on a change to the EU treaty to create the European Stability Mechanism (ESM) -- a permanent financial safety net from 2013 -- that will help countries with liquidity problems and allow for debt restructuring of insolvent ones. But market concerns are focused on whether the euro zone has sufficient immediate funds to come to the aid of the likes of Portugal or Spain, should they need a bailout next year. "The new ESM should
safeguard the euro zone's financial stability in the future. However, it is to some extent windowdressing as it does not solve the current crisis," said Carsten Brzeski, senior economist at ING bank. The euro zone's current fund -- the European Financial Stability Facility (EFSF) -- can borrow on the markets backed by euro zone government guarantees and has up to 440 billion euros to lend to governments cut off from market financing. But many economists believe that even though only a small part of the EFSF's funds have been used to help Ireland, it may turn out to be insufficient if more countries need help. "European leaders failed to address the issue of debt sustainability and possible insol-
vency problems prior to 2013. Debt restructuring, a common euro zone bond or an increase of the EFSF? None of these issues have been addressed. But they have to be," Brzeski said. European Union President Herman van Rompuy said there was no need to talk about increasing the EFSF now, but if such a need arose in the future, euro zone leaders would do whatever was necessary to ensure the stability of the euro zone. Economists said such declarations were not enough. "The statement is full of assertions proclaiming the unity of the EU and the success of the measures taken so far to deal with the crisis ... but there is little in the way of specifics," said Ken Wattret, chief euro zone
economist at BNP Paribas. European leaders have used the same phrase since May, when they created the EFSF, but this did not prevent markets from forcing Ireland to ask for EU help and from Portuguese and Spanish bond yields being driven to record highs. While a pre-Christmas market lull may have led to a temporary truce in the onslaught against peripheral euro zone debt, ratings agencies have been busy flagging up the fact that risks are undiminished. Moody's slashed Ireland's credit rating by five notches on Friday, having said on Thursday it may downgrade Greece. It delivered the same warning toSpain on Wednesday, although it said it did not expect Madrid to have to resort
to a bailout as Greece and Ireland have. Rival agency Standard & Poor's said this week it may cut Belgium's debt rating if the country's inability to form a government threatened deficit- and debt-reduction goals. A MISSED OPPORTUNITY "We believe financial markets are likely to be disappointed by ... the overall silence regarding other proposals made in the run-up to the summit, such as the upsizing of the EFSF and E-bonds," said Frank Engels, economist at Barclays Capital. "The preliminary outcome of the EU summit ... represents yet another missed opportunity by European policymakers to forcefully address investor concerns and calm markets in a more
sustainable and pre-emptive manner," Engels said. The EU method of responding to new developments in the debt crisis only when they appear, rather than getting ahead of the curve, is seen by the IMF as one of Europe's main shortcomings. "I am worried, and that's why I am urging the Europeans ... to provide a comprehensive solution because this piecemeal approach ... obviously doesn't work," IMF head Dominique Strauss-Kahn told Reuters on Thursday. "The markets are just waiting for what's next." Policymakers have been informally discussing various options from boosting the effective lending capacity of the EFSF through tweaking its operating criteria,
to doubling its total size. Further informal ideas include higher lending to the IMF to increase its involvement in euro zone rescue plans and extending stand-by credit lines by the EFSF to governments whose borrowing costs are rising, but which are not yet cut off form markets. Some in the euro zone back the idea of a common euro zone bond but Germany has publicly opposed the idea and is against increasing the size of the EFSF as both moves would be difficult to sell to German voters angry at bailouts. "Germany's rejection of the expansion is another example of how euro zone governments do not agree on the best way forward to deal with this crisis," said BNP Paribas' Wattret. "As a result, the meas-
ures taken have been piecemeal, unconvincing and reactive rather than pre-emptive. This is going to have to change if confidence is to be restored in a lasting way," he said. Economists also said the leaders' decision to conduct new stress tests of euro zone banks, to help restore confidence in the financial sector, was undermined by the lack of credibility of the last such exercise in July. "Given the erosion of credibility of the first stress test results following the problems that emerged at Irish banks thereafter even though these banks had successfully passed the stress tests, we believe this news will not have any notable market impact for the time being," said Barclays Engels. -Reuters
7
Sunday, December 19, 2010
Otsuka ekes out gain in Tokyo debut after $2.4bn IPO
WASHINGTON: Manufacturing operator Valentina Panovska works at the capsule packaging process in the production plant of Grindeks in Riga. Reuters
Pfizer pulls Thelin from market due to fatal risk NEW YORK: US pharmaceutical giant Pfizer announced it is pulling its blood pressure drug Thelin off the market due to a potentially life-threatening risk of liver damage. Pfizer said it was voluntarily withdrawing Thelin in the European Union, Canada and Australia and is also suspending all clinical tests on the drug that treats pulmonary arterial hypertension (PAH), a rare, incurable disease that can result in heart failure and early death. "While liver toxicity is a known complication of the class of drugs to which Thelin belongs, a new potentially lifethreatening idiosyncratic risk of liver injury with Thelin has been observed," Pfizer said in a statement. "Given the availability of alternate treatments, Pfizer has concluded that the overall benefit of Thelin no longer outweighs the risk in the general population of PAH patients."
No #1
The company said it had notified health authorities about its findings and its decision to withdraw Thelin from the market and stop clinical studies. "Patients taking Thelin or participating in Thelin studies are advised to consult with their health care professional as soon as possible," it said. It added that patients should not stop taking Thelin until they speak with their doctor. The European Medicines Agency (EMA) said it had been informed of the move and would discuss the issue at its meeting next week. Pfizer acquired the rights to Thelin -- an oral, once-daily drug -- when it took over Encysive Pharmaceuticals in 2008 in a 195-million-dollar deal. Thelin had yet to be approved by the US Food and Drug Administration, which said it was not sufficiently effective. PAH is estimated to affect
Continued from page 8
in the summit during which Business to Business meetings were also organised. The Board of Investment has expressed the hope that the summit would have long-term positive affect on the economic of both the countries and expected that $25 billion investment would be attracted by the summit. -APP
100,000 to 200,000 people in North America and Europe, including about 55,000 in the United States. Though rare, the disease affects men and women of all races and ages, but is more common among women aged 20 through 40. The disease may be misdiagnosed as asthma, anemia or chronic obstructive pulmonary disease. PAH is characterized by high blood pressure and structural changes in the walls of the pulmonary arteries, the blood vessels that connect the right side of the heart to the lungs. The pulmonary arteries become thickened and constricted, forcing the heart to work harder to pump blood through the lungs, leading to fatigue and eventually to heart failure. Thelin acts to dilate the constricted blood vessels, thereby reducing pulmonary arterial pressure and improving the heart's performance. APP
No #7
TOKYO: Shares of Otsuka Holdings posted modest gains in their debut after the company priced its $2.4 billion IPO conservatively to offset investor worries about future competition for its mainstay schizophrenia drug. Otsuka, Japan's No.2 drugmaker by sales after industry leader Takeda Pharmaceutical , closed at 2,140 yen, 1.9 percent above the 2,100 yen per share price for its IPO, which was the largest globally for a pharmaceuticals firm. The benchmark Nikkei average .N225 ended down 0.1 percent. Investors had been expecting Otsuka to rise slightly after the company set the IPO price at the lower end of an initial range to allay jitters about its heavy reliance on schizophrenia treatment Abilify, which generates a third of its sales. Otsuka has a tie-up with Bristol-Myers Squibb to sell the drug in the United States and other markets. The task of finding new growth drivers rests with CEO Tatsuo Higuchi, a 60-year old former food chemist who has played a key role in turning the largely domestic outfit into a global player in the drug industry with a market value of $14 billion. "Otsuka's profit source should be solid until 2015 when Abilify's patent protection ends, but many see uncertainty after that," said Yoshinori Ogawa, an analyst at financial market research and information provider FISCO. "Developing the next hit product in the coming five years won't be easy." -Reuters
Continued from page 8
But Assange said his lawyers believed a secret US grand jury investigation had been started into his role in WikiLeaks' release of thousands of leaked US diplomatic cables -- a probe he condemned as "illegal". Looking relaxed, he said the mansion was a "big improvement" on the London jail where he was held in solitary confinement for nine days before his release on bail Thursday. Continued from page 8 No #2 Media reports suggest that US prosecutors are trying to build a each of us cares about to move forward on what all of us care case against Assange on the grounds that he encouraged a US solabout." While the bill enjoyed wide support from Republicans, it dier, Bradley Manning, to steal US cables from a government also encountered strong backlash from his own party, particularly computer and pass them to WikiLeaks. from the liberal wing, who blast the package as too generous to He said WikiLeaks had pledged 50,000 dollars (38,000 euros) the rich. The new measure is seen as a likely boost to the strug- towards Manning's legal fund. gling economy, but would pile onto the federal debt that some fear "WikiLeaks technology (was) designed from the very beginning is nearing dangerous levels. to make sure that we never know the identities or names of peoThe bill will add to an accumulated 13.86 trillion dollars of ple submitting us material." national debt that is now equal to more than 90 percent of the US Meanwhile, the Pentagon defended itself against allegations that economy. -Agencies Manning was being kept in harsh conditions in a military brig at Continued from page 8 the Quantico Marine base, Virginia, where he has been placed No #3 He said China wanted to see Pakistan as an economically strong under a maximum security regimen. -Reuters country. Continued from page 1 No #8 "Important accords will be signed during Chinese premier's During their wide ranging exchange of views, held in an atmosvisit", he added.-NNI phere of complete understanding, warmth and cordiality, the two Continued from page 8 No #4 leaders recalled the unique nature of Sino-Pak relations, which financial liberalisation and to turnaround the inefficient state had not only stood the test of time but enjoyed the strong support of the peoples of both countries. owned companies into efficient private enterprise. Sharif was accompanied by the Punjab Chief Minister Shehbaz The delegation was informed that the present government Privatisation Policy was emphasised on sale of 26 per cent shares Sharif and other senior PML-N leaders, while the Chinese of the entities of Privatisation list with management control for Premier was assisted by his Foreign Minister and members of his value addition, improving the efficiencies and enhancing the pro- entourage. Referring to China's remarkable progress, Nawaz duction and making them profitable before offering the turn- Sharif said that he himself had been a witness to the giant strides around entities to the potential sound investors instead of just made by this great country. This was a testimony not only to the resolve and determination divesting the majority chunk. The other entities on privatisation list includes Pakistan of the Chinese people, but to the far-sightedness and vision of its Railways, Pakistan Steel Mills, PTDC Motels and Restaurants, great leaders, who had transformed China from a poor, developUtility Stores Corporation and Stores, State life Insurance ing country to the world's second biggest economy, in only three Corporation, Pakistan Reinsurance Company, National Insurance decades. This was a matter of great joy and satisfaction to the peoCompany, Printing Corporation of Pakistan, Services hotel, Sindh ple of Pakistan, who deeply cherished their friendship with China and looked upon her as a sincere friend and a proven ally that had Engineering and Republic motors Limited.-NNI stood by Pakistan in its most difficult moments. Continued from page 8 Premier Wen Jiabao thanked Nawaz Sharif for his warm No #5 even as we stress the importance of dialogue between India, remarks and recalled that Mr. Sharif had made a most valuable Pakistan, Afghanistan, other countries. So no efforts like this are contribution to the consolidation of Sino-Pakistan relations, especially during his two tenures as Prime Minister. misunderstood," he said. -Online He was seen not only as an outstanding leader of Pakistan, but Continued from page 8 No #6 as a great friend of China as well, which explained why he "The carbon price mechanism and electricity market reform are enjoyed great respect and esteem in his country. The Chinese premiere lauded the achievements of the governtwo distinct steps which encourage investment by putting values on decarbonisation and security of supply," said Vincent de Rivaz, ment of Punjab in ensuring economic development and social stability. He also extended his invitation the Chief Minister Punjab chief executive of EDF Energy Plc, a major operator in the UK. The utility plans to build four new nuclear reactors in Britain by Shahbaz Sharif to undertake an official visit to China early next 2025, the first of which is expected to come online in nearly seven year. -Agencies years' time. Continued from page 1 No #9 Rivaz said a carbon floor price was in the interest of consumers Naval Chief Admiral Noman Bashir attended the meeting. as a stable CO2 price would shield users from volatile fuel prices Sources told that views were exchanged on Joint product JF-17 in future. Thunder fighter jets and preparation of FP-22 Frigates. The government's reform proposals say that a low-carbon soluWhile Chinese PM said that China would meet all defense needs tion would result in a reduction of household bills by 4 percent -- of Pakistan. He said that Pakistan's role in war against terror has or 29 pounds per year -- from 2025 as investment in low-carbon been quite positive and China would not leave Pakistan alone at any juncture. He said cooperation with Pakistan in defense sector generation will grow. The government also proposed an Emissions Performance would be enhanced and joint army exercises would be conducted. Sources told during the meeting COAS briefed the Chinese PM Standard (EPS) to ensure all new coal-fired power stations are constructed using carbon-capture-and-storage (CCS) technology. on situation related to war against terror and situation at eastern It also suggested offering capacity payments to owners of back- and western border. -Online up plants to be used in periods when renewable power generation Continued from page 1 No #10 is insufficient. Furthermore, Prime Minister Yousuf Raza Gilani Saturday hosted a The consultation will be open for three months, followed by the luncheon in honour of his Chinese counterpart Wen Jiabao and members of his delegation. publication of a White Paper in late spring next year. The luncheon was attended by politicians from various political parties, The reforms are expected to be in place by 2013. -Reuters
PMA Sindh demands probe into doctor's manhandling KARACHI: Pakistan Medical Association (PMA-Sindh) demanded judicial inquiry of the incident during which a senior doctor from Hyderabad, Noushad Ahmed Willani, was allegedly beaten and arrested on fabricated charges of blasphemy. Dr. Habib-ur-Rahman Soomro, Dr. Samrina Hashmi, Dr. Ismail Memon representing PMA-Sindh in a joint statement distributed during a press conference also asked for protection of Dr. Noushad Ahmed Willani and his family members. They alleged that doctors were being subjected to violence, on superficial basis. "It is, however, heartening to note that the role of police was extremely commendable who protected Dr. Noushad Ahmed Willani from mob attack," said the doctors.
"Yet it is unfortunate that a senior family physician providing health-care to local community has become a victim of criminals with collaboration with fanatics," they alleged. They warned that if the situation continued and doctors were not protected then it will become impossible for health workers to continue working in the province. It is not only the duty of police to protect citizens but public at large should also play their due role like as civilized community, said the doctors. "This situation is intolerable and action is required immediately," PMA - Sindh representatives said. They asked for formulation of a committee for legislation to deal with such matters and impose penalties against those taking matters in their hands unlawfully under
fabricated charges. Those responsible should immediately be prosecuted and if found guilty should be fined upto Rs. 500,000 and imprisonment for 7 years, said the doctors. They also demanded action against those who physically abused the doctor and destroyed his clinic. PMA also demanded that Pakistan Pharmaceutical Manufacturers' Association (PPMA) to take stock of situation against the Pfizer Company for what if claimed violation of mandatory laws imposed on pharmaceutical industry under the rules of land such as regulating their pharmaceutical representatives for not indulging in unethical practices for sale of their products. They also urged the Chief Minister of Sindh, Syed Qaim Ali Shah to intervene in this matter. -APP
Chairman Senate Farooq H Naek, Speaker National Assembly Fehmida Mirza, Governors and Chief Ministers of the four provinces, members of the federal cabinet, services chiefs, diplomats and senior civil and military officials. Prime Minister Gilani extended a warm welcome to the Chinese premier. He said the ties between the two countries were "rock solid" and the two would jointly celebrate 2011 as the year of Pak-China friendship, marking the 60th anniversary of bilateral relations. Gilani acknowledged with gratitude China's assistance to Pakistan in the 2005 earthquake, the Attabad Lake and the recent floods. Gilani said the two countries share the ideals of a safe, secure and prosperous neighborhood and a region free from strife and conflict. "We want this vision to be translated into reality," he added. Chinese Prime Minister Wen Jiabao said both countries were good neighbours and had marched ahead through thick and thin together. Jiabao said he was delighted to return to Pakistan after five years and appreciated the hospitality.
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Security officials said that all the dead in the attacks were militants - a claim that cannot be independently confirmed, it added. The first missile attack apparently took place at 0800 local time (0300 GMT) on Friday in the Tirah Valley, killing seven Taliban militants from outside the Khyber tribal region and injuring eleven, when two vehicles were targeted in the Sandana area, a Pakistani security official said. Minutes later, another missile strike targeted a compound in the Speen Drang area where pro-Taliban militants from the Lashkar-e-Islam group were holding a meeting, killing at least 32 people, including senior leaders of the group, the official added. The third attack took place in the afternoon in the Narai Baba area, according to the official. "A compound was hit killing at least 11 militants," said the official, adding," All were from Swat and were taking refuge due to the military operation there." -Agencies
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because of the sensitivity of the issue. CIA officials' "serious concerns" for the station chief's safety led to the decision to bring him home, a US official said. A spokeswoman for the spy agency, Jennifer Youngblood, declined to comment. The Pakistani lawsuit also named CIA Director Leon Panetta and Defense Secretary Robert Gates. The CIA's work is unusually difficult in Pakistan, one of the nation's most important and at times frustrating counterterrorism allies. The station chief in Islamabad operates as a secret general in the US war against terrorism. He runs the Predator drone program targeting terrorists, handles some of the CIA's most urgent and sensitive tips. It's rare for a CIA station chief to see his cover blown. In 1999, an Israeli newspaper revealed the identity of the station chief in Tel Aviv. In 2001, an Argentine newspaper printed a picture of the Buenos Aires station chief and details about him. In both instances, the station chiefs were recalled to the US. -Agencies
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Pakistan, whose border areas are widely seen as the main obstacle to Obama's strategy succeeding because of the free flow of militants into Afghanistan. Pakistan has about 140,000 troops on its western border with Afghanistan involved in several operations against Pakistani militants bent on overthrowing the government in Islamabad. But Pakistan has been reluctant to go into North Waziristan, often called the epicentre of global terrorism, because it says it needs to consolidate gains made elsewhere before it can tackle the rugged territory that is thought to be a base for some members of the Afghan insurgency and al Qaeda. "There is a great amount of capacity being used at holding the ground the Pakistani Army has won at great cost," said Munter. US Defense Secretary Robert Gates said on Thursday that Pakistan needed to do more to control the flow of extremists along its porous border with Afghanistan. Pakistan says it will invade North Waziristan, but on its own schedule. -Agencies
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Religious Affairs Hamid Saeed Kazmi on corruption charge in the Hajj operations. In Saturday's telephonic conversation, Fazl and Sattar expressed their concerns over raging inflation, corruption and other public issues, including the imposition of reformed general sales tax. Sources said the MQM leader is likely to hold a meeting with JUIF chief in the backdrop of both the party's stances against already unpopular and fragile government. -Agencies
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government's reaction to the embassy bombing was "impulsive and politically motivated" when it swiftly blamed Pakistan's intelligence agency. More than 40 people, including India's military attachĂŠ and a diplomat, were killed in the July 2008 attack on the embassy in Kabul, while 166 people died in the Mumbai attacks by Islamist gunmen in November 2008. According to the Pakistan officer, the negative effects of the Mumbai attacks on ties between the nuclear-armed rivals, who have fought three wars, would "fizzle out over the next few months", the cable said. The concluding comment on the Mumbai attacks by the US Embassy was: "No Military Confrontation Anticipated". India is still pressing Pakistan to bring to justice the alleged masterminds of the attacks in which 10 Islamist gunmen attacked a host of targets including luxury hotels, a Jewish centre and the train station. Nine of the gunmen were killed and the sole survivor, Mohammed Ajmal Kasab, was condemned to death by a Mumbai court in May. He is challenging the sentence. -Agencies
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The SECP has been promoting bilateral co-operation with counterpart regulatory authorities of the capital market at the bilateral, regional and international level. The SECP has already established co-operative arrangements through MOUs with the regulatory agencies of India, the Maldives, Australia, Bhutan, Sri Lanka and Iran. The MoU was signed in the presence of Chinese Premier Wen Jiabao and Prime Minister Yusuf Raza Gilani on Friday. Mr. Tahir Mahmood, the SECP Commissioner, signed the MoU on behalf of the SECP while Liu Jian, the Chinese Ambassador, inked it on behalf of the CSRC. The MoU provides parameters of co-operation and consultation, seeking to enforce and ensure compliance with respective laws and regulations in both the countries. The document reiterated the commitment of the securities regulators to work together in ensuring that securities and future markets in Pakistan and China are fair, transparent, and efficient and regulate to world class standards.
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an important message to the Prime Minister on part of Chief MQM Altaf Hussain. During the meeting Coordination committee's decision over Zulfiqar Mirza's statements would be discussed. After the meeting MQM would decide its future plans. It is noticeable to mention here that after JUI-F parting of ways from the government, MQM contacted to PML-Q, PML-N and ML-likeminded. -Online
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said Syed Wasimuddin, chief spokesman of the central bank. Country's reserves hit a record high of $17.10 billion in the week ending Oct 15 because of an increase in remittances from overseas Pakistanis and a narrowing trade deficit. Earlier the reserves got a boost in September after the IMF sent Pakistan $450 million and said that the money would go toward the budget to help with additional spending for flood relief and immediate foreign exchange needs.
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The processions were taken out from Imamia Colony, Idara Minhajul Hussain Jauhar Town, Qasr-e-Batool ShadmanColony,Nisar Haveli Mochi Gate and other areas which culminated after passing through the traditional routespeacefully. Law enforcement agencies also arrested various suspected persons including one Afghan resident Abdul Rehman and four from North Waziristan Agency named Muhammed Rasool, Ata-ur-Rehman, Abdul Mannan and Ahmed Jan. In addition to aerial surveillance, the 'Azadars' (Mourners) also passed through a three layered of security including scanners, metal detectors and physical search to ensure their safety. According to the police sources more than 22000 policemen were deployed in the city in addition to Army and Rangers to perform duty from Ist to 10th of Muharram-ul-Haram. The main Zuljinnah procession was taken out from Nisar Haveli, inside Mochi Gate. In Peshawar, the main procession was taken out from Kochi Bazar area which culminated at historic Qissa Khwani bazaar after passing through its traditional routes. Traffic flow and movement of pedestrian was completely blocked in the interior city to thwart any untoward incident. In Quetta, the central procession of Tazia and Zuljinnah was taken out amid tight security from Alamdar Road. Ashur was observed in Azad Jammu and Kashmir (AJK) amidst tightened security arrangements. Alam, Zuljinnah and Tazia processions were brought out from Imambargahs which culminated at their fixed spots after marching through their tradition routes in all the ten district headquarters of AJK including Mirpur, Muzaffarabad, Haveili, Hattiyan, Kotli, Bhimbher, Bagh, Sudahnoti, Rawalakot and Neelam valley, as well as in all other major and small towns across the liberated territory.
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regional and international issues of mutual interest. Premier Wen is in Pakistan on a three-day official visit at the invitation of Prime Minister Yusuf Raza Gilani. The two sides also discussed increased exchanges in education and culture and expressed desire to send more Pakistani students to China to study subjects like Nanotechnology, Biotechnology, Advanced Chemistry and Physics. Gilani termed China as a trusted partner, very good neighbour and a close friend of Pakistan. The talks focused on building a mutually beneficial economic partnership, besides developing wider cooperation on regional and international affairs. The Chinese Premier said China would expand pragmatic cooperation with Pakistan to bring about tangible benefits to the Pakistani people and increase Pakistan's self-development capability. -Agencies
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TDAP chief upbeat on raising trade volume
Sino-Pak two-way trade seen at $15bn
ISLAMABAD: PML-N Chief Muhammad Nawaz Sharif receiving Chinese Premier Wen Jiabao upon arrival at a local hotel.-APP
Australian delegation visits PC
Govt plans SOEs’ 26pc shares sales ISLAMABAD: Privatization Commission (PC) plans to proceed with equity Linked Instruments (Convertible Bonds) for State Owned Enterprises (SOEs) in international markets to tap private sector for funding turnaround efforts and to utilise the proceeds to fund future growth plans of these entities. A visiting 8 member Australian Parliamentary delegation led by the President of the Legislative Assembly of Australia (Chairperson State
Senate) Amanda Fazio, currently on an official goodwill visit to Pakistan were given a briefing on the Privatisation Policy, Program, initiatives, available investment opportunities and the process here. The delegation was informed that Pakistan's Privatisation Program being transparent and open was being termed most successful in the South Asia, Central Asia and the Middle East regions by the leading investment houses and the investment groups as it yielded
over $9 billion proceeds through the privatisation of 167 transactions. The was told that the purpose of undertaking the privatisation of SoEs is to reduce the participation of the Government in commercial activities, to deregulate the economic and commercial functions, to help the economy move from State control to private control, switch from monopolistic or oligopolistic markets to competitive markets, financial repression to See # 4 Page 7
JUI-F to join govt soon: Mukhtar LAHORE: Federal Defence Minister, Ahmed Mukhtar said that Jamiat Ulema-e-Islam Fazal (JUI-F) Chief Maulana Fazl-ur-Rehman would soon be brought back into the coalition. Mukhtar said the PPP leadership enjoyed cordial relations with JUI-F and Maulana Fazlur-Rehman would soon be a part of the coalition government. Responding to question about the US Admiral Mike Mullen's demand to 'do more' in the war on terror, Mukhtar said Pakistan would do just what was beneficial for its interest. See # 3 Page 7
ISLAMABAD: The volume of bilateral trade between China and Pakistan would increase to $15 billion by 2015, Chief Executive Officer (CEO) Trade Development Authority of Pakistan (TDAP) Tariq Puri said here Saturday. "Trade between the two friendly countries would be enhanced up to $10 billion in next two years and $15 billion by 2015," he said while talking to reporters on the sidelines of the Pakistan China Business Cooperation summit, 2010 here on Saturday, Tariq Puri said that there was great scope for enhancing trade between the two friendly countries, adding current business summit would definitely pave way for increasing it. He said that about 150 counterpart companies of different sectors of the two countries have been engaged in consultations in the forum, exploring opportunities and possibilities
Sino-Pak traders’ web portal goes online ISLAMABAD: The Trade Development Authority of Pakistan (TDAP) has on Saturday launched web portal to link businessmen and traders of Pakistan and China by providing information on various trade related issues. "The web portal would help businessmen to know about business and investment opportunities in both the countries and launch their business ventures accordingly," Tariq Puri, Chief Executive Officer, TDAP told media men here on Saturday on the sidelines of PakChina Business Cooperation Summit 2010. -APP for future investments and organised by Board of Investment in collaboration exports. He said that Pakistani export with Federation of Pakistan companies would be involved in Chambers of Commerce and marketing in various cities of Industry, Trade Development China to enhance exports to China. Authority of Pakistan and He said that Pakistan and China Council for Promotion of China were enjoying friendly International Trade. Almost 260 Chinese delepolitical relations which led to developing trade and economic gates and 150 representatives of Pakistan from different relations. The Pak-China Business investment sectors participated See # 1 Page 7 Cooperation Summit has been
Obama signs tax-bill into law WASHINGTON: US President Barack Obama on Friday signed the tax-cut bill into law, the first major legislation that has enjoyed bipartisan support since he took office. "This is real money that is going to make a real difference in peoples' lives," Obama said at a ceremony to sign the bill at the White House. "It's a good deal for the American people; this is progress and that's what they sent us here to achieve."
The bill, with a price tag of 858 billion US dollars, will extend the soon-to-expire Bush-era tax cuts at all income levels for another two years, lower payroll taxes by 2 percentage points and provide additional jobless benefits. The measure, a compromise between the president and Republican leadership, is so far the first major bipartisan legislation under Obama's presidency. The healthcare reform law,
one of Obama's most significant legislative accomplishments, cleared the Congress in March with almost no Republican support. "There are some elements of this legislation that I don't like some elements that members of my party don't like," said Obama. "There are some elements that Republicans here today don't like. That's the nature of compromise -- yielding on something See # 2 Page 7
America says want to ease Pak, India tension WASHINGTON: The US wants India and Pakistan to reduce tensions between them, the White House has said, insisting that the Obama Administration would continue to encourage the two countries to improve their ties. "The tensions between the two countries are something that the President discusses with each country when he's visited leaders in India or called leaders in Pakistan. And he will continue to address that and take steps to ease any of that tension," White House Press Secretary Robert Gibbs said at his daily news conference on Friday. Gibbs also noted Secretary of State Hillary Clinton's remarks on Thursday, when she said how important it was that Pakistan took serious-
Malik says no to drone hits in B'stan ISLAMABAD: Interior Minister Rehman Malik said drone attacks would not be allowed in Balochistan at any cost while elements challenging government writ would be dealt with iron hands. Talking to media here the other day Interior Minister Rehman Malik said that, Jandola is involved in terrorism activities in the region and has formed alliance with other terrorist's outfits. He said that the government is taking all steps to ensure safety and protection of the masses. He further said that the terrorists wanted to destabilise the country but the government would not allow them to succeed in their nefarious designs. He said that Iran has given list of Jandola terrorists while Pakistan would cooperate with Iran in investigation proceedings regarding terrorism activities. Meanwhile, Interior Minister Rehman Malik visited National Crisis Management cell on Yaum-e-Ashura and expressed concerns over procedure regarding links between NCMC and Law Enforcement Agencies. -Online
ly the threat from extremists inside its territory and redirected forces to meet that threat. He said that there is much work to be done on taking the steps that are necessary to address the safe havens that continue to exist in Pakistan. Separately, State Department spokesman P J Crowley said, "First of all, how Pakistan decides to deploy its military forces is a decision for Pakistan. We've made no secret of our desire to see Pakistan take more aggressive action against extremist elements within its own borders." "That is a threat to Pakistan itself. And as the Secretary said, we have seen Pakistan shift its emphasis away from the Pakistani-Indian border and more aggressively to the Swat Valley
and other areas where these extremists operate. And no military has suffered more significant casualties in undertaking these operations than Pakistan," Mr. Crowley said. "But these were obviously decisions for Pakistan to make. But the context of increasing dialogue and reducing tensions between Pakistan and India is something that we have stressed in our dialogue with both countries," he said. The State Department spokesman said India has legitimate interest in helping with the future of Pakistan. "It has contributed significantly to development and reconstruction projects within Afghanistan. And this should - we encourage that activity, See # 5 Page 7
UK power mkt reforms aimed LONDON: Britain will extend its lowcarbon support scheme to nuclear power and clean coal, in a bid to reassure investors about future returns and to help the transformation to a low-carbon economy, it said. "We have a once-in-a-generation chance to rebuild our electricity market, rebuild investor confidence, and rebuild our power stations," Energy and Climate Change Secretary Chris Huhne told parliament. The government also said in its reform proposal a carbon price support mechanism will be introduced to back invest-
ment in low-carbon generation "as soon as is practically possible." UK participants in the EU's Emissions Trading Scheme (ETS) could face a fee of 1-3 pounds above EU carbon prices, it added. Currently, most generators do not have to pay a tax to use fossil fuels to produce electricity. However, to support the carbon price, the government intends to change the way its Climate Change Levy and fuel duty are levied on fossil fuels used to generate electricity. See # 6 Page 7
Assange fears US extradition BUNGAY: WikiLeaks founder Julian Assange said it was "increasingly likely" the US would try to extradite him on charges related to leaked cables as he savored his first day on bail. Speaking outside Ellingham Hall, a friend's mansion in eastern England, where he must live while on bail, Assange said he was concerned about potential moves from US authorities. "The big risk, the risk we have always
been concerned about, is onwards extradition to the United States. And that seems to be increasingly serious and increasingly likely," the Australian told reporters. The 39-year-old founder of the whistleblowing website is fighting extradition to Sweden, where he is wanted for questioning over allegations that he sexually assaulted two women, which he denies. See # 7 Page 7
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