International Karachi, Sunday, November 21, 2010, Zil Hajj 14, Price Rs12 Pages 8
Govt to subsidise food for flood-affected: Talpur
Powell urges more military aid for Pak
See on page 8
Suu Kyi tells US to keep eyes open in talks
See on page 8
Asiya Bibi seeks presidential pardon
See on page 8
See on Page 2 Economic Indicators $16.95bn 14.17% $7.17bn $12.25bn $(5.08)bn $(533)mn $3.50bn $455.10mn Rs 411bn $58.41bn Rs 4863bn $124.90mn -3.85% 4.10% $1,051 171.10mn
Forex Reserves (5-Nov-10) Inflation CPI% (Jul 10-Nov 10) Exports (Jul 10-Nov 10) Imports (Jul 10-Nov 10) Trade Balance (Jul 10-Nov 10) Current A/C (Jul 10- Oct 10) Remittances (Jul 10-Nov 10) Foreign Invest (Jul 10-Sep 10) Revenue (Jul 10-Oct 10) Foreign Debt (Sep 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Sep 10) LSM Growth (Aug 10)
GDP Growth FY10E Per Capita Income FY10 Population
Portfolio Investment SCRA(U.S $ in million)
145.61 Yearly(Jul, 2010 up to 15-Nov-2010) Monthly(Nov, 2010 up to 15-Nov-2010) 40.89 3.39 Daily (15-Nov-2010) 2589 Total Portfolio Invest (5 Nov-2010)
NCCPL (U.S $ in million)
FIPI (16-Nov-2010) Local Companies (16-Nov-2010) Banks / DFI (16-Nov-2010) Mutual Funds (16-Nov-2010) NBFC (16-Nov-2010) Local Investors (16-Nov-2010) Other Organization (16-Nov-2010)
1.26 0.25 0.36 -0.28 -0.36 -1.14 -0.10
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 Dow Jones
Close 10,966.00 10,022.39 23,605.71 19,585.44 2,748.92 2,888.57 5,732.83 11,203.55
Change 56.35 8.76 31.68 345.20 9.52 23.12 35.88 22.32
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$.Price PKR/Shares 2.60 110.98 19.20 163.91 2.00 42.69 1.70 36.28 10.39 35.48
White House wants to expand drones reach
Pak resists drone hits beyond Fata US believes Taliban leaders hiding in Quetta: TWP ISLAMABAD: Pakistan said Saturday it would never allow any expansion in the campaign of drone strikes by the United States on its territory,which US wants to expand beyond tribal areas to Quetta. The Washington Post reported that US was seeking to expand the areas inside Pakistan where Central Intelligence Agency (CIA) unmanned aircraft - used for surveillance and to launch missile strikes - could operate. "As for the reported suggestion by the US to carry out drone attacks beyond our tribal areas, Pakistan's position is very clear - we would never allow this to happen," foreign ministry spokesman Abdul Basit told media.. "The Americans should rather
Six more F-16 jets reach Pakistan
Kazmi assured action against responsible
ISLAMABAD: Pakistan Saturday received six new F-16 aircraft from the US bringing the number of such fighters in Pakistan Air force to 12. According to PAF spokesman the six new F-16 fighter jets have landed at Jacobabad Shahbaz Air base and they would be inducted to PAF batch to enhance defense of motherland. Pakistan had signed a contract with the US Government See # 4 Page 7
ISLAMABAD/ MAKKAH: T-Bills (3 Mths) 03-Nov-2010 12.75% Prime Minister Syed Yousuf T-Bills (6 Mths) 03-Nov-2010 13.11% Raza Gilani taking serious T-Bills (12 Mths) 03-Nov-2010 13.24% notice had ordered an immedi29-Sep-2010 13.50% ate inquiry on the inadequate Discount Rate 16-Nov-2010 12.66% arrangements made by the Hajj Kibor (1 Mth) Kibor (3 Mths) 16-Nov-2010 12.99% Directorate for Pakistani Hajis Kibor (6 Mths) 16-Nov-2010 13.26% and had immediately recalled Kibor ( 9 Mths) 16-Nov-2010 13.63% the Director General Hajj to Kibor (1Yr) 16-Nov-2010 13.71% Pakistan. P.I.B ( 3 Yrs) 16-Nov-2010 13.64% The inquiry report is awaited. P.I.B (5 Yrs) 16-Nov-2010 13.73% According to PM House P.I.B (10 Yrs) 16-Nov-2010 13.82% spokesman, Prime Minister said P.I.B (15 Yrs) 16-Nov-2010 14.22% that shifting of responsibility P.I.B (20 Yrs) 16-Nov-2010 14.33% and blame game were unacceptP.I.B (30 Yrs) 16-Nov-2010 14.50% able and further ordered that the Commodities Foreign Ministry should in Crude Oil (brent)$/bbl 84.34 future coordinate all arrangeCrude Oil (WTI)$/bbl 81.98 ments at the government to gov-
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be hiding. The request also sought to expand the boundaries for drone strikes in the tribal areas, the report said. "We already have issues with American drone strikes, which are known to Washington," Basit said. "These strikes violate our sovereignty, cause collateral damage and above all are producing (a) drone-hardened generation." Pakistan has repeatedly said there is no justification for the drone strikes, describing them as "counter-productive" and a violation of the country's sovereignty. Washington, which has massively ramped up its drone campaign in Pakistan's northwest tribal region, says the strikes are highly effective in See # 2 Page 7
PM orders probe into Hajj scam
Money Market Update
Cotton $/lb 123.15 Gold $/ozs 1,352.30 Silver $/ozs 27.18 Malaysian Palm $ 1,040.00 GOLD (NCEL) PKR 37,160 KHI Cotton 40Kg PKR 9,109
revisit their drone attack policy and stop carrying out strikes in our tribal areas." Washington has massively ramped up its drone campaign against militants in areas near the Afghan border over the past two months, and argues they are highly effective in the war against al Qaeda and its allies. But the policy is deeply unpopular among the Pakistani public, who see military action on Pakistani soil as a breach of national sovereignty and say some attacks have killed innocent civilians. Citing unnamed US and Pakistani officials, The Washington Post said Friday that US officials were eyeing areas surrounding Quetta, where the leadership of the Afghan Taliban is believed to
ernment level for the Hajj as had been decided by the Cabinet. Prime Minister expressed profound appreciation for the excellent arrangements that the government of the Kingdom of Saudi Arabia has always made for the pilgrims. Prime Minister said that King Abdullah Bin Abdul Aziz always takes close personal interest in the welfare of the pilgrims. Under his direction the facilities for performance for Hajj had been vastly improved. Furthermore, Federal Minister for Religious Affairs Syed Hamid Saeed Kazmi said that See # 3 Page 7
Turn off terror, Delhi tells Isb NEW DELHI: Prime Minister Manmohan Singh Saturday said his government was committed to normalisation of India's relationship with Pakistan but the neighbouring country must control the terror machine. "We are willing to discuss all issues, provided the terror machine is controlled," the prime minister said in response to a question at the Hindustan Times leadership summit. He said South Asia was "a region of enormous capacity" but this cannot become a living reality unless there is peace. Manmohan Singh said India's relations with Southeast Asia had improved significantly and
there was considerable strengthening of ties with countries in the Middle East, including Saudi Arabia, Qatar and Kuwait. He said the leaders of all five permanent member countries of the UN Security Council would be visiting India in a year. "Such goodwill it (India) never enjoyed before," he said. He said there was great admiration for India for its diversity, rule of law and fundamental human freedom and high growth rate. "The world wants India to succeed," he said. On the visit of US president Barack Obama from Nov 6-9, the prime minister said it was "a great success". -Online
1st Hajj flight arrives today ISLAMABAD: The return of special Hajj flights of pilgrims will start from Sunday (today) through Pakistan International Airlines (PIA) while Federal Minister for Religious Affairs Hamid Saeed Kazmi would reach in Islamabad on 23 November. Sources said that from today the return of hajj fights of pilgrims from Saudi Arabia would start in Karachi while hajj flight for Islamabad would arrive on 22 November. See # 5 Page 7
Khi CID blast:
Initial report submitted KARACHI: Federal Investigation Agency (FIA) has sent the initial investigation report pertaining to CID Karachi blast to the Federal Interior Ministry. According to sources 400 to 500 kg explosive material was See # 6 Page 7
LISBON: Afghan President Hamid Karzai and Nato Secretary General Anders Fogh Rasmussen sign a declaration on enduring partnership, as UN General Secretary Ban ki-Moon (centre) looks on. -Reuters
Karzai hails decision; US sees exit as too early
Nato chief seals Afghan exit deal LISBON: Nato leaders Saturday endorsed a plan to start transferring leadership of the war in Afghanistan to Kabul, and completely hand over military control to Afghan forces by 2014. Afghan President Hamid Karzai welcomed the decision of what he called the "effective, irreversible and sustainable" transition. Nato Secretary-General Anders Fogh Rasmussen said he does not foresee foreign troops in a combat role in Afghanistan after 2014. Rasmussen said he is "confident" the parties could meet the 2014 deadline, but cautioned the move would depend on the security situation in Afghanistan.
Nato heading for defeat: Taliban KABUL: The Taliban on Saturday said that Nato was heading for defeat in Afghanistan after the alliance announced plans to begin withdrawing troops from the country from next year. "It has become clear that after nine years of occupation, the invaders are doomed towards the same fate as those that tread this path before them," the hardline group said in an emailed statement. "Their troop surges, their new strategies, their new generals, their new negotiations, and their new propagandas have been of no avail," it added. -Agencies
Standing next to the Nato chief and Afghan leader on the second day of the 2-day NATO summit in Lisbon, United Nations SecretaryGeneral Ban Ki Moon cautioned that the drawdown has to be guided by "realities not
Pak aware of its defects: Haqqani WASHINGTON: Pakistan ambassador to US Hussain Haqqani has said that Pakistan better understand its problems and its rulers are not as bad as they are portrayed to be. According to media reports, addressing a Atlanta Council think tank Haqqani dubbing US as a friend and Pakistan as a key ally of US said that Pakistan is better able to understand its own problems and how to counter them and we have the right to this thinking which Pakistan's friends should understand. But still we listen to the suggestions of our allies. Hussain Haqqani negated the impression of US that Pakistan is not doing enough to counter Taliban and said that to the best of our ability we are fighting this war and countering Taliban.
He said that he admits that Pakistan needs to improve its reputation but our rulers are not working as bad as they are being portrayed. He said that imposing of taxes on the say of US and world community would add to problems and this issue needs to be tackled with extreme caution so that the poor are not over burdened. He said that Pakistan is criticised with respect to war on terror and he wants to clarify that Pakistan gave the most sacrifices in this war. He said in 2009 10 soldiers per day were being killed and this is proof that Taliban consider Pakistan Army and intelligence agencies as its enemy. He said for being an ally of US we have to pay a price of See # 7 Page 7
schedules." Leaders of the 28-member organisation are expected to meet on the sidelines of the main meeting with Russian President Dmitry Medvedev. See # 12 Page 7
Malik, Altaf talk about political affairs LONDON: Interior Minister Rehman Malik and MQM chief Altaf Hussain discussed current situation of the country and increasing corruption, during telephonic conversation here on Saturday. According to media reports, Interior Minister Rehman Malik and MQM chief Altaf Hussain, exchanged Eid greetings on telephone and also discussed issues related to current situation of the country and increasing corruption. Interior Minister Malik informed Altaf Hussain about steps taken by interior ministry for elimination of corruption and expressed determination to take action against the corrupt without discrimination. See # 1 Page 7
What would become of al Qaeda boss if captured in Pakistan, asks CBC
Musharraf unsure on Osama handover TORONTO: Pakistan may not have handed over al Qaeda leader Osama bin Laden immediately to the US if he was caught on Pakistani soil with former president Pervez Musharraf asserting that the 'matter is sensitive' and Islamabad would have to 'think about it when such a situation arises.' Musharraf, here to attend a convention organised by his newly floated All-Pakistan Muslim League, was asked the question by the CBC network.
In answer, he replied: "Well, that is a very difficult question to answer. It has great sensitivities.'' "My policy on handing over people in the past was we will not hand over any Pakistani. We will ask, first of all, the country of origin of the person to take that person over. And if that does not happen - and invariably none of the countries accepted the al Qaeda people that we apprehended - then we handed them over to anyone and the United States.
"Now in this case, since the matter is so sensitive, one will have to think about it when such a situation arises,'' he said. Asked many times if he had information about the whereabouts of Osama bin Laden, the former military dictator said it was only once, in 2004, when the ISI and American intelligence forces encircled the Pakistani tribal area where the al Qaeda chief was reported to be hiding. But the 9/11 mastermind was not found there, said Musharraf. "There was a time we were
getting these photograph releases of Osama bin Laden walking in mountains (in 2004). Having some knowledge of the mountains and the landscape, I thought, maybe he's in Bajaur Agency,'' Musharraf told the Canadian Broadcasting Corporation. Bajaur is one of the seven mountainous tribal units in the Federally Administered Tribal Area of Pakistan (FATA) between Pakistan and Afghanistan that has become the hotbed of Taliban insurgents.
Referring to recent statements against him by Richard Holbrooke, Obama administration's special representative for Afghanistan and Pakistan, Musharraf told the All-Pakistan Muslim League gathering that this shows he never accepted any orders from the Americans. "He (Musharraf) has about as much chance of coming back to power as (former Soviet) president (Mikhail) Gorbachev,'' Holbrooke told US diplomats and security experts in Washington this week. -Online
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Sunday, November 21, 2010
Pak, Turkey to up coactions in various sectors Staff Correspondent
Secretary Commerce Fazal Abbas Maken also spoke on the occasion. Both the sides agreed that the deep-rooted relations between Pakistan and Turkey should be translated into trade and economic terms in the larger interests of the people of two sides. "Their visit to Pakistan had provided an opportunity to the Turkish delegates to have first-hand knowledge about available business openings in Pakistan." The delegates said that both the countries have marvelous untapped business potential that needs to be realized by maximizing the involvement of private sectors of the two countries. The Turkish delegates hoped that the economic relation between the two countries would strengthen further to cre-
ate a win-win situation for Pakistan and Turkey. In his address, the head of Turkish delegation and Vice President Business Tuskon Federation Mr Dogan Kaynak said that Turk people attach great importance to Pakistan, consider it their second home and this was the only reason that they had expressed solidarity with their brothers and sisters by celebrating Eid in Pakistan. He said that theTurkish people in general and the business community in particular would continue to support Pakistan in days and years to come. He said that the delegates during their visit to Pakistan got very good information about available business opportunities and would be coming back with good investment proposals.
LAHORE: Pakistan and Turkey need to promote cooperation in Agriculture, Industrial, Trade, Science, Education and other sectors including technological advancements. The consensus was developed at a meeting between 30-member Turkish delegation and the Executive Committee Members of KARACHI: A Turkish ship carrying a rental power plant, anchored at Kemari Port and it would be Lahore Chamber of inducted into the National Grid system. The rental power plant has a 232 megawatt power generation Commerce and Industry capacity and it would be operational in 2 to 3 weeks to meet the energy needs of KESC. -Online (LCCI) on Saturday. LCCI President Shahzad Ali Malik, Senior Vice President Sheikh Mohammad Arshad, Vice President Sohail Azhar, Honorary Consul General in LahoreMian Tajjamal KARACHI: Sindh ISLAMABAD: No con- Hussain, former LCCI Governor, Dr Ishrat-ulcrete steps were taken by presidents including Ebad Khan has hailed the the government to imple- Salahuddin Ahmad Sahaf role played by people, LARKANA: MNA Faryal ture and in this regard 25 ment the Convention on and Bashir A Buksh and police, rangers, city and Talpur has said that the pres- acre of government land the Rights of the Child, district administrations as ent government was making has been allotted to the said a statement issued by women the Child Rights well as non-governmental all out efforts to provide the landless Movement (CRM) to show organizations (NGOs) to essential commodities on farmers/Harries. "Besides Benazir Income solidarity with the maintain peace and fixed rates and in this conhealthy environment on nection "Sunday Bachat Support Program was also youngest, but most imporBazaars" will be held in started in order to up lift tant segment of Pakistan. the occasion of Eid-ul- Larkana and Naudero. the women of the remote In the wake of the Adha. This she said while areas, added that the pro- Universal day for children, He commended police addressing at a dinner gram was also appreciated SPARC National Program and Rangers personnel hosted in her honour by the by the international organiManager Violence against for their efforts to main- Larkana Chambers of sations," she said. Children Mohammed She said complaints had Imtiaz Ahmed demanded tain law and order on Eid, Commerce and Industry said a statement issued (LCCI) here at a local been received about Watan to accelerate concrete hotel here. Cards and illegalities here on Saturday. actions for children mere She said the essential should be resolved by the The Sindh Governor commodities will be proNADRA and directed to than empty gestures. has also lauded efforts of Pakistan marked vided to the common man prepare Watan Cards of Administrator Karachi on government fixed flood affected people in a November 12as the 20th and all towns administra- prices and strict action will transparent manner. anniversary of its ratification for maintenance of be taken against the hoardShe said that the remain- tion of the UN Convention cleanliness in the city on ers and black marketing. ing portion of circular road on the Rights of the Child Though the Eid-ul-Adha. She said government had Larkana will be completed (CRC). LAHORE: President LCCI Shehzad Ali Malik exchange documents with head He also welcomed soli- provided an amount of Rs. as well as the roads under Government of Pakistan of Turkish business delegation Dogan Kaynak.-Staff Photo development has submitted four Periodic darity expressed by dif- 2 million for the construc- Larkana ferent organisations and tion of the office of the package (LDP) will also be Reports after stipulated institutions with the flood Chamber of Commerce and completed. She also held schedule, the content of victims on the occasion Industry and added that law meeting with Chairman Concluding Observations Highway and and ordered situation in National Recommendations of Eid.-APP Authority in order to com- (CO&R) made by the Larkana was improving. Faryal Talpur said the plete the roads under the Committee remains the government was taking package in short possible same. The exercise of subinterest to promote agricul- time.-APP mitting reports provides an opportunity to member KARACHI: Advisor to Day being observed today. Karachi alone," she said Sharmila said corporal referring to a report. states to conduct a compre- Chief Minister Sindh for Sharmila said that public hensive review of various Information and Archives punishment in government measures undertaken to on Saturday called for and private schools is private partnership is the harmonize law and policy tabling child rights bill in another menace which need of hour to safeguard LARKANA: Chandka with the Convention and Sindh Assembly besides need to be brought to an all rights of children Medical College Hospital public scrutiny of making another legislation end through legislation by including education and (CMCH) Larkana organso as to protect children declaring it as crime health. In many schools, Government's policies but Staff Reporter safe movement of sacrificial ized a 'children festival' from sexual abuse, bonded because students lose their students are ruthlessly hides and skins and no inci- in Pakistan it has not tranon Saturday in children's labor, corporal punishment interest in studies and beaten up as a result, they ward on the occasion of KARACHI: The Chairman, dent of snatching took scended beyond rhetoric and trafficking. remain absent due to this becomes scared and someand formality.-PR Tanners place. "Universal Children Pakistan The cases of child sexual menace caused by tactless times refuse to go to school Association (PTA), Aziz Gulzar Firoz specially Day". abuse and domestic vio- and untrained teachers. to avoid this unjustified A large number of flood Ahmed and Gulzar Firoz, mentioned that police were lence should be allowed to The advisor said that 43 punishment in the form of affected children also Chairman PTA Law and ordered to escort truckloads file in Anti-Terrorism per cent of country popula- slaps and sticks, she said. attended this festival and Order Committee have said of skins and hides to the Courts (ATC) by amend- tion is aged below 15 years The advisor asked politiing rules and regulations while 3.3 million children cal, social and civil society enjoyed the different that there was no incident of industrial areas arriving skins or hides snatching in from various parts of city. so that no one could dare are involved in child labor. organizations to come forplays and entertainment Korangi Industrial Area durThey also appreciated the to harm children who are "About 100,000 children ward with concerted efforts activities. Students of ing Eid days and the skins performance of the police in the future builders of the work and live in the streets to save children from local schools presented and hides safely reached Korangi Industrial Area country, she said in a state- of Karachi and other parts bonded labor, corporal tableaus. tanneries. where no incident of hides KARACHI: The second ment on the occasion of of the countries. Over punishment and other evils Meanwhile, the chief Expressing their gratitude and skins snatching took colourful Youth Festival the Universal Children 30,000 of them are in in the society.-PPI guest vice chancellor of to the Governor Sindh for place. Gulzar also lauded 2010 will open here at Arts Shaheed Muhtarama taking personal interest and the cooperation and support Council of Pakistan (ACP) Benazir Bhutto Medical directing law enforcing in this respect by DIG on Sunday, which will conUniversity, Prof. Sikandar agencies for taking special Police (East), Dr Amir tinue till Nov 24. Ali distributed gifts care to maintain law and Ahmed, SP Usman Ghani The Sindh Youth Affairs amongst flood-affected order on the occasion of Siddiqui and other officials Department is holding the children.-PPI annual contest in collaboEid-ul-Adha, which ensured of Police and Rangers. ration with the Arts Council of Pakistan where youth will show their talent in final contests for 11 categories. Minister for Youth Affairs Syed Faisal Ali Sabzwari will inaugurate the mega event which Staff Reporter Sindh, Nisar Khoro the highest level of pros- includes competition of Speaker of Sindh perity and peace, and par- painting, photography, KARACHI: Khamis bin Assembly, ministers, ticipating with sincerity in debate, short films, Mohammed bin Abdullah members of Sindh making development deci- singing, mural painting, AI-Farsi, Consul General Assembly and business- sions, and enjoying all fashion/textile designing KARACHI: Adviser to Sindh Chief Minister on information Sharmila Farooqi for Oman marked the men. facilities, in his life, as per on November 21. addressing a press conference at Sindh Secretariat. -APP national day of Sultanate the vision of Sultan On November 22, "bait of Oman and extended his Qaboos bin Said for his bazi" contest, calligraphy competition and "workprofound regards to the people. people of Pakistan on the Omani politics has for shop on youth" will be held eve. the last many years and up Manzar Akbar Hall, A R In a message given here, till now, has extended the gallery and Theater auditoKhamis bin Mohammed hand of friendship and cor- rium. Theater competition, conveyed his heartiest dial relations with differfelicitations to Sultan of ent countries on the basis film screening, open dis- LAHORE: Warid offers journey to Saudi Arabia. way. Text messaging, as cussion and battle of the Qaboos bin Said on the of mutual respect and non incoming SMS free of cost Aiming to assist the striv- you are all aware of, has joyous occasion of the interference in the internal bands will be held on while roaming on any net- ing pilgrims and their fam- now become the most conNovember 23 at theater 40th National Day. issues of the country, and work around the world, ilies, Warid along with the venient and affordable He also thanked the respecting the neighbour- auditorium, Manzar Akbar without any subscription free incoming SMS offer, way to stay connected with Government of Sindh for Shedding light on the ing countries, and always Hall and Sabzazar. Dialogue with legends charges, said a statement also has the best calling your loved ones wherever the good reception and progress of Sultanate of preferring dialogue for rates to Saudi Arabia, you might be on the globe. will also be held from issued here. making the environment Oman, Khamis bin solving the conflicting The statement further where call to landlines can International roamers for November 21 to 23. The suitable for our diplomatic Mohammed said that after issues with all parties, and prize distribution ceremo- stated that the very step be made for as low as this purpose, find SMS the work. He extended his 40 years of existence because of these funda- ny will be held on 24th, at was taken on purpose 7.50+tax per minute. fastest and the most suitgratitude to Dr Ishrat-ul Oman is proud of the mental rules, Oman makes Theater auditorium where amidst the current Hajj seaWarid Telecom has able way to keep in touch Ebad Khan Governor achievements made in all strong and advanced rela- Sindh Governor Dr Ishratul son with the vision to fur- always come up with inno- with their family and Sindh, Syed Qaim Ali activities of life, the tions between so many Ibad Khan will be chief ther facilitate our roamers vative ideas to treat its cus- friends while traveling Shah Chief Minister Omani citizen now lives at countries for last 40 years. guest.-APP who are on their spiritual tomers in the best possible abroad.-PR
Ebad hails Eid arrangements
Children feast held in CMCH
Government to subsidise food stuffs: Faryal
Kids deserve more on Children Day
Sharmila urges Child Rights Bill
Tanners start seeking hides
Youth Festival starts Sunday
President urges PPP foundation day preps KARACHI: President Asif Ali Zardari has directed the leaders of PPP to arrange seminars, workshops, meetings and public contacts in connection with PPP Foundation Day. According to media report, President Asif Ali Zardari has directed the PPP workers to inform the masses about pioneer PPP Zulfiqar Ali Bhutto's view and history and sacrifices rendered by the PPP workers for sake of democracy. President Asif Ali Zardari said that PPP is only political party of the world whose two leaders rendered their lives for sake of democracy. He appealed to pay homage to the PPP workers who rendered sacrifices, on the foundation day.Online
KESC back in business after Eid KARACHI: Power load shedding resumed from Saturday morning in Karachi after Eid-ul-Adha interval of three days. According to media reports, a spokesman of Karachi Electric Supply Company in a statement announced three hours daily load shedding in the areas with less power theft, while four hours load shedding will be made in the localities of the metropolis with the practice of more power theft. The power utility has said the industrial areas of Karachi will not suffer load shedding like the residential areas of the city.Online
TV PROGRAMMES SUNDAY Time Programmes 7:00 News 8:00 News 9:05 I Samaa (Rpt) 9:30 Taxi News (Rpt) 10:10 The Reema Show (Rpt) 11:10 Naram Garam 12:00 News 13:10 Faisla Aap Ka (Rpt) 14:10 The Anchor (Rpt) 15:00 News 16:00 News 17:00 News 18:00 News 19:05 I Samaa 19:30 Mutasareen 20:05 The Reema Show 21:00 News 22:03 Faisla Aap Ka 23:05 Tafteesh
Oman celebrates 40th national day
Warid offers free int’l SMS roaming
SUNDAY Time 8:00 8:30 9:00 10:00 11:00 11:30 12:00 13:00 14:00 15:00 16:00 16:30 17:00 18:00 18:30 19:00 19:30 20:00 20:30 21:00 22:00 23:00 0:00
Programmes Pakista this week(Rpt) Music Scene Teesri Nazar(Rpt) Smithsonian Documentry Uff Tv(Rpt) Dilkash Pakistan (Rpt) Kamyab (Rpt) Agenda 360 (Rpt) Karobari Duniya(Rpt) Teesri Nazar(Rpt) Pakistan This Week (Rpt) Tijarti Dunya (Rpt) Kamyab (Rpt) Dilkash Pakistan (Rpt) Uff Tv(Rpt) Sara Jahan Red Carpet Filmi Samaa Munafa Khor Hoshiyar Badalta pakistan Agenda 360 Amnay Samany Filmi Samaa(Rpt)
3
Sunday, November 21, 2010
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Beatles’ hits come to Apple’s iTunes store I
t's been a long and winding road, but the Beatles are finally available on iTunes. The iTunes-Beatles agreement is exclusive into 2011, according to EMI, but the company declined to say when in 2011 it would expire. As of now, the iconic band's entire catalog can be purchased in Apple's iTunes Store. Each album comes with iTunes LP, which features additional content including lyrics, photos, and album art. A digital version of the Fab Four's entire body of work is also available for download for $149, and that comes with exclusive access to a video of the band's first US concert, "Live at the Washington Coliseum, 1964." Single albums are priced at $12.99, double albums at $19.99. Songs will cost $1.29 each. This is a personal victory for
Apple CEO Steve Jobs, as The Beatles were one of the most prominent holdouts from his online music empire. Apple had tried for years to acquire rights to The Beatles' catalog. "We love the Beatles and are honored and thrilled to welcome them to iTunes," said Jobs in a press release today. "It has been a long and winding road to get here. Thanks to the Beatles and EMI, we are now realizing
illiams told an industry gathering in San Francisco that
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Twitter has "a lot of money in the bank." He declined to comment on whether the company was in discussions with investment firms about funding. San Francisco-based Twitter has 175 million users and is one of the most popular Internet social networking services. The company, which allows its users to broadcast short, 140-character messages, or Tweets, to groups of "fol-
appear in certain parts of its service. Williams, speaking at the Web 2.0 conference, said the company's initial efforts at generating advertising revenue had exceeded the company's expectations, though he declined to provide financial details. He also noted that Twitter was in talks with Facebook, the world's No.
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Web site promising that "tomorrow is just another day.
Apple hyped up the announcement over the last 24 hours with a splash page on its
That you'll never forget." After several hours of tech news sites buzzing about what the compa-
China Unicom to launch smartphone
Twitter says has “a lot of money in the bank”
W
a dream we've had since we launched iTunes ten years ago."
T
he Uphone would be manufactured by Huawei Technologies and ZTE Corp, but pricing details and production numbers had not yet been set, Zhang Zhijiang, head of China Unicom's technology department, said. China Unicom is the only mobile operator authorized to sell Apple Inc's iPhone in China. Bigger rival China Mobile Ltd also sells a selfbranded smartphone, which it calls the Ophone. While the iPhone has grabbed global headlines, ZTE's and Huawei's smartphones, most based on Google Inc's free Android operating system, are quietly gaining a reputation for their functionality at lower costs. Like their peers in mature markets, all of China's three mobile operators are trying to attract customers to their data networks to fuel growth as revenue from voice calls falls amid rising competition and mobile phone penetration rates.
C
also complained that the border depicted by Google maps was
their version of the border, blaming faulty data from the
wrong and favored Nicaragua. Google mappers said in a blog that they had corrected
US State Department that had led to ceding as much as 1.7 miles of territory to Nicaragua.
released on vinyl receive as much love in the digital world as they did the first time around." Ringo Starr: "I am particularly glad to no longer be asked when the Beatles are coming to iTunes. At last, if you want it-you can get it now--The Beatles from Liverpool to now! Peace and Love, Ringo." Yoko Ono Lennon: "In the joyful spirit of Give Peace A Chance, I think it is so appropriate that we are doing this on John's 70th birthday year." Olivia Harrison: "The Beatles on iTunes--Bravo!" The release of the band's music online marks the end of a long journey for both EMI and Apple. The two battled in courtrooms for years over a trademark dispute: Apple Corps, The Beatles' record company, versus Apple Inc
Power problems detected in Nokia N8 N okia, the world's top cellphone maker, said on Friday some of its flagship N8 smartphones were sold with a power fault that meant they switched themselves off. The success of the N8 -Nokia's first real challenge to Apple's iPhone, more than three years after its launch -is seen as crucial to Nokia's profit margins in the current quarter, analysts say. Nokia sales chief Niklas Savander said "a limited number of N8 users" were facing the problem of their phones switching off, and they are not able to turn them on again. A spokesman said the fault was due to a problem in production, which has since been fixed. He said the issue was limited to the N8 model, but declined to comment on how many phones were impacted. "Probably not all consumers
Nicaragua, Costa Rica urged to pull back in Google map spat osta Rica accused Nicaragua of deploying troops inside its territory last month in a dredging operation around a island in the San Juan River that has been the source of friction for more than a century. In a resolution approved early on Saturday in Washington, the OAS hemispheric forum called for the countries to remove their armed forces from the area and begin talks to resolve their differences. Costa Rica has no army but allegedly mobilized police forces to the border and asked the OAS to intervene in the conflict. The Costa Rican government
ny could have up its sleeve, The Wall Street Journal reported that Apple would finally announce an agreement to offer The Beatles' music. In a press release from Apple, and EMI, each of the surviving Beatles members or a representative was quoted about the news. P a u l McCartney: "We're really excited to bring the Beatles' music to iTunes. It's fantastic to see the songs we originally
The Nicaraguan military officer in charge of the dredging operation denied reports that he had used an erroneous Google map in planning the work, according to local media. In Managua, the leftist government of President Daniel Ortega, a former Sandinista guerrilla leader, denied any incursion into Costa Rican territory and said its troops were on the ground to fight drug trafficking. Twenty-two countries in the OAS voted to approve the resolution, which is little more than a toothless exhortation, while Nicaragua and its close ally Venezuela voted against, the hemispheric body.
have informed Nokia about the problems, so the final number of faulty products is likely to increase," Nordea analyst Sami Sarkamies said. "Hardware problems can be tricky to find and solve," he said. The fault in the power management stems from the way in which the engine component -- which includes most of the technology in the phone,
excluding covers and batteries -- in the Nokia N8 was being installed. "If you look at the total number it is a small number," Savander said in a video on company website. The N8, first to use Nokia's
new Symbian software, was originally scheduled to reach consumers in June. In April, Nokia warned the software renewal would take longer than expected due to quality problems, and said that the model would reach consumers by the end of September. The model was finally in the shops last month. A weak offering of smartphones and problems with software were seen as the main reasons for Nokia replacing Chief Executive Olli-Pekka Kallasvuo with Stephen Elop from Microsoft . The N8 stands out among its rivals for its 12 megapixel camera, but has a slower processor than Samsung's leading model, the Galaxy S, and Apple's latest iPhone. Shares in Nokia were 0.3 per cent lower at 7.48 euros by 0847 GMT, underperforming a slightly firmer STOXX Europe 600 Technology Index.
Xbox 360 beat PS3 in sale
I
f we talk about gaming consoles than some names come to our mind which are Play Station , Xbox 360 and Nintendo Wii. And PlayStation is normally gets more sells then the other brands but the story is not same from last few months. October figures from the NPD groups shows that Microsoft is able to sell more Xbox 360 units in U.S than any other brand. And this trend is going on from last five months.325,000 units of Xbox 360 are sold during this time and on the other hand 25,000 units of PlayStation are sold and 232,000 units of Nintendo Wii were sold. Microsoft expects that the sales of Xbox will further boast in the coming year because of their new Kinect sensor which will bring a revolution in the gaming world. These strong sales of Xbox are because of the fact that 6 of the 10 most wanted games are available on Xbox. Games like Fable 3 and the Halo:Reach had great sales in October alone. Other reason of strong sales could because Microsoft was advertising Kinect from a long time so every was looking forward to use this amazing sensor so for that they had to buy Xbox 360. Christmas is just one month away and because of that we can expect a good competition between PlayStation 3 Vs Xbox 360 and this year Xbox 360 has something new and yes its price is also reasonable because of the introduction of Xbox 360 Arcade which is only 5GB memory.
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4 Sunday, November 21, 2010
The Financial Daily International Vol 4, Issue 103
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
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Need to stop drone attacks If allowing the United States to undertake drone attacks within Pakistan was a mistake, bowing down to the pressure to allow similar attacks in and around Quetta would be horrendous. If the US has credible evidence that militants are hiding and/or operating from Pakistan, the information must be shared with Pakistan and it is the prerogative of Pakistan to undertake any action. Allowing the US to expand drone operations to other regions within Pakistani territory and specifically to Quetta is noting but surrendering Pakistan's sovereignty. Ever since the US under Nato cover attacked Afghanistan, Pakistan has been doing the best but what does it get in return? Till yesterday ISI was accused of not doing enough due to more than cordial relationship with Taliban. The latest raising the specter of the Quetta Shura is preposterous. Let us remind the US that two of its much hyped stances (1) Osama bin Laden hiding in Afghanistan and (2) presence of weapons of mass destruction in Iraq have proved completely baseless. If those two claims were hoax calls, how can Pakistan believe that the statement of presence of Quetta Shura is credible? Let us also remind the US that if it is trying to make some deal with Taliban, why is it insisting on weeding out al Qaeda supported Taliban in Pakistan? Many of the Pakistanis are confused if the war is being fought in Afghanistan against Taliban or al Qaeda? Pakistanis also fail to understand the logic behind good Taliban and bad Taliban. They also wish to know the difference between al Qaeda, Afghan-Taliban and Tehreeke-Taliban Pakistan. There is a growing perception that all these are the names of CIA-supported groups, given the specific mandate both in Afghanistan and Pakistan. It is also suspected that Jundallah, a banned outfit having its base in Balochistan is also being funded by three foreign intelligence agencies. This group wears different caps, in Balochistan it is termed Baloch nationalist group working for independent Balochistan. It also hits strategic installations and key Iranian persons because of its belief that presented elected government of Iran commits human rights violations. While the Chief of Jindallah was hanged in Iran, the group got free its members from Karachi City Court. It is true that the sole surviving super power has its own agenda and to achieve the objectives it forms and topples governments in many countries. To name a few, Shah of Iran, Marcos of Philippines, Saddam Hussain of Iraq, Zia-ul-Haq of Pakistan and Hamid Karzai of Afghanistan have been its puppets of the recent times. The time has come all the political parties join their hands to defend the territorial integrity of Pakistan. To begin with, all the party heads issue a statement condemning the US demand to undertake drone attacks on Quetta. This must be remembered that if the US gets the permission to attack Quetta; other cities may also meet the same fate in future.
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.
Why the West needs a New Start A
s a long-time observer of American politics, I know that United States senators will decide whether to ratify New Start, the arms control treaty with Russia negotiated this year, on the basis of a thorough evaluation of their country's national interests. As the democratically elected representatives of the American people, they alone can determine what those interests are. The US remains the world's most powerful state, however, and the senators' decision will inevitably have an impact beyond their country's borders. It will be particularly significant for Poland, a staunch ally of the US in Nato. So, it is important to make clear: my government supports theratification of New Start, because we believe it will bolster our country's security, and that of Europe as a whole. President Barack Obama's nuclear disarmament efforts have gained wide support in Poland. The country's first democratic prime minister, along with two former presidents, including Lech Wa??sa, the legendary leader of Solidarity, published a joint article last year in support of Obama's bold disarmament agenda. For almost a year now, since the expiration of the original Start treaty in December 2009, no US inspectors have been on the ground in Russia to verify the state of its nuclear arsenal. The Start verification provisions provide crucial information that is essential for the force-planning process.
Without a treaty in place, holes will soon appear in the nuclear umbrella that the US provides to Poland and other allies under Article 5 of the Washington treaty, the collective security guarantee for Nato members. Moreover, New Start is a necessary stepping-stone to future negotiations with Russia about reductions in tactical nuclear arsenals, and a prerequisite for the successful revival of the Treaty on Conventional Forces in Europe (CFE). While we in Poland do not perceive an immediate military threat from Russia, most of the world's active tactical or sub-strategic nuclear weapons today seem to be deployed just east of
Polish-Norwegian initiative aimed at addressing the issue of tactical nuclear weapons within the larger arms-control framework that was launched in this past April. In effect, New Start is the sine qua non for effective US leadership on the arms-control and non-proliferation issues that matter to Europe - from reviving the CFE treaty, to preventing Iran from obtaining nuclear weapons. More broadly, New Start will cement the new, more positive tone in relations between Russia and the west. Indeed, we in Poland have adopted our own way of reconciliation with Russia, one based on dialogue and reciprocity. As a result, Polish-Russian relations
Ratification of New Start will increase mutual trust and show that the west and Russia, despite our disagreements, can work together on issues critical to our common security Poland's borders, in speculative preparation for conflict in Europe. The cataclysmic potential of such a conflict makes it essential to limit and eventually eliminate this leftover from the cold war. This was the reasoning behind the
have improved significantly over the last three years - no easy feat, given the burden of our shared history. Though difficulties still lie ahead, Poland is determined to build a relationship with Russia based on mutual respect. Also on the cards is more substantive
cooperation between Nato and Russia in the field of missile defence, an issue discussed at this year's Nato-Russia Summit in Lisbon, and that has the potential to transform Nato-Russia relations. In order for that to happen, Russia's leaders must come to view missile defence as an opportunity to work together to address common threats, rather than a threat in itself. Ratification of New Start will increase mutual trust and show that the west and Russia, despite our disagreements, can work together on issues critical to our common security. Any delay to the treaty, however, will embolden those in Moscow who would rather have the west as an enemy than as a partner - and who thus would like to see the tenuous progress made in recent months to be undone. Meanwhile, the Obama administration continues to pursue its plans for European missile defence. More than a year ago, Poland decided to take part in the new "phased adaptive approach", which will primarily protect America's European allies. The Polish government has agreed to host elements of the modified European Missile Defence System on Polish territory in the second half of the decade. I hope that US senators take into account the view from Warsaw in making their decisions. New Start is in the interest of disarmament and of Europe. Poland supports ratification of this vitally important treaty. (Courtesy: Guardian)
Bernanke hits back at Fed critics F
ederal Reserve Chairman Ben Bernanke hit back on Friday at critics of the US central bank's bond-buying program and issued a thinly veiled attack on China's policy of keeping its currency on a leash. Bernanke, facing a chorus of protests about the asset-buying spree from within and outside the central bank, said a more vigorous US economy was essential to fuel the global recovery and dismissed charges he was debasing the dollar. "The best way to continue to deliver the strong economic fundamentals that underpin the value of the dollar, as well as to support the global recovery, is through policies that lead to a resumption of robust growth in a context of price stability in the United States," Bernanke told a conference at the European Central Bank in Frankfurt. The Fed's November 3 decision to buy a further $600 billion in US government debt with new money generated outrage among policymakers in many nations, who accused the United States of seeking to weaken the dollar to gain an export edge. German Finance Minister Wolfgang Schaeuble called the policy "clueless," while domestic critics have argued the policy could ignite inflation and fuel asset bubbles. Fed officials have circled their wagons to defend the program with an unusual cam-
paign of public remarks. Bernanke went so far as to brief lawmakers on Wednesday behind closed doors. In his remarks on Friday, Bernanke faulted inflexible currencies for blocking a needed rebalancing of global growth, but admitted a need for greater US saving as well.
ances could not be tackled without "important changes in the relative values in the currencies." "We need to move in that direction," he said. Addressing international criticism of the Fed's action, Bernanke said much of the recent weakness of the dollar
Bernanke, facing a chorus of protests about the asset-buying spree from within and outside the central bank, said a more vigorous US economy was essential to fuel the global recovery and dismissed charges he was debasing the dollar STRUCTURAL ADJUSTMENTS "Deficits and surpluses are generated by many countries' behavior not a single currency," Bernanke said during a panel discussion with IMF Managing Director Dominique Strauss-Kahn and European Central Bank President JeanClaude Trichet. "It will be very difficult for exchange rates by themselves to restore the balance and so I think structural adjustments on both sides are necessary," Bernanke said. Strauss-Kahn said he too recognized the difficulties involved but said global imbal-
reflected an unwinding of the increases that were notched as investors fled to the safety of the greenback during the European sovereign debt crisis in the spring. Still, analysts said Bernanke's emphasis on the need to reinvigorate the US economy was a dollar negative. "It is hard enough to stop a central bank from weakening its currency when it is cutting rates, but when it is willing to print money to do so ... it looks very much as if they see a weaker currency if not as the sole target of monetary policy, then as something that is natu-
ral, if not inevitable," analysts at Citibank said in a research note. Many emerging economies have worried that volatile investment inflows sparked by the dollar's decline could be destabilizing - either fueling inflation or asset bubbles. Bernanke said the failure of some emerging market economies with trade surpluses to allow their currencies to appreciate was making the problems those countries face worse. "Currency undervaluation by surplus countries is inhibiting needed international adjustment and creating spillover effects that would not exist if exchange rates better reflected market fundamentals" he said. While Bernanke did not explicitly point to China, US officials have long argued that an undervalued Chinese yuan gives the Asian export powerhouse an unfair advantage. Bernanke said inflexible currencies were preventing a needed rebalancing of global growth and could end up destabilizing the world economy. "For large, systemically important countries with persistent current account surpluses, the pursuit of export-led growth cannot ultimately succeed if the implications of that strategy for global growth and stability are not taken into account," he said. SOCIAL COST Michael Feroli, an economist with JPMorgan Chase in New
York said Bernanke's forceful words carried a message for domestic and international critics alike. "The essence of the chairman's argument is that the market will resolve undervalued Asian currencies in one of two ways: either an increase in the price level in Asia, or a decrease in the price level in the US," he said. "Without an aggressive Fed response, the US runs a greater risk of deflation and US monetary policy would in part be abdicated to Asian policymakers." Bernanke said sluggish US growth, falling inflation and an unemployment rate that has hovered near 10 per cent for months convinced Fed policymakers they needed to pump in more stimuli. "On its current economic trajectory, the United States runs the risk of seeing millions of workers unemployed or underemployed for many years," he said. "As a society, we should find that unacceptable." Bernanke said a fiscal program that combined near-term measures to enhance growth and steps to address long-range deficits would be an important complement to Fed policies. But whether Republicans who seized control of the US House of Representatives in November elections on a platform of fiscal restrain - will cooperate is questionable. Many Republican lawmakers have lashed out at the Fed for risking inflation.
Economic Roadmap need of the hour A
Iftikhar Ali Malik n appropriate economic roadmap backed by a well thought-out implementation and monitoring mechanism, is a prerequisite to economic revival of the country. The two sides, the government and the private sector would have to sit together as early as possible to achieve this much-cherished goal. Both the government and the private sector have the ability to make this country a hub of economic activities. The fact remains that Pakistan is faced with multiple internal and external challenges. The economy is in bad shape. The law and order is fast deteriorating. There are issues of governance because of which we are sinking slowly but surely. On international front, the country's image is plunging with every passing moment. Its goods are fast becoming uncompetitive while foreign investors are reluctant to even visit this country what to talk of any investment. US President Barack Obama postponed his planned stopover in Islamabad and landed direct in India, a nation that pawned its gold reserves to avert default just 20 years ago was being
wooed to help save American Economy. Despite having all the resources, Pakistani businessmen are fast losing hope because the high cost of doing business due to almost daily upward fluctuation in the prices of inputs, high markup rather the highest one, not only in the developing world but in the developed countries also. Only because on highestever interest rates, the cost of borrowing is beyond the reach of new investors while the existing industry has shelved plans for any sort of expansion. Very recently, the business community was protesting against the acute shortage of electricity and now-a-days the same people are crying for unavailability of gas. And all this is because of anti-industry and anti-growth policies. It seems that some forces from the outside are quite active to turn this country into a trading place instead of a manufacturing hub. Despite tall claims by the government there is no respite in blasts that had taken the entire economy hostage. Rising cost of doing business on the back of high credit and energy prices and growing shortages of electricity and gas
for the industry over the last several years have eroded investor confidence in the economy and hampered fresh investment. While KIBOR increased by 26 per cent to 12.33 in October 2010 from 9.82 per cent in 2007, gas prices was raised by 61 and electricity tariffs by 106 per cent. Similarly, diesel prices have shot up by 91 and furnace oil by 150 per cent. All these things have shaken the confidence of the local businessmen and there is no doubt about it that it would take years and years to restore the confidence of these businessmen who are always ready to spend their time and money for the country. The President of Pakistan, the Prime Minister, the Governors, the Chief Ministers and the Federal and Provincial cabinets need to have a joint sitting to identify the solutions of the problems being faced by the country as the time is fast running out. If the situation remains the same for quite some time, a large number of businessmen would not be able to pay their dues to the banks and would be bound to default. In my opinion, consistency and commitment are the key
words that are necessary to achieve the goal of progress and economic prosperity but unfortunately we have never bothered to give due attention towards this area of prime importance. A large number of businessmen had already closed down their units due to difficult business atmosphere in Pakistan. According to Ministries of Industries and Production, in the last five years 1,579 industrial units shut down, 700 in Sindh and 688 in Khyber Pakhtunkhwa, 115 in Punjab and 29 in Balochistan. Another 47 units were closed in the export processing zones. The figures provided by the ministry represented only registered industries and the government had not taken into account a large number of small units and vendors who fed the industries. Coming back to the topic, I want to draw the attention of the business community in general and the exporters in particular to make maximum use of the incentives given by the European Union (EU) which is by all means is the biggest shopping mall of the world. The countries having trade with EU countries are
fast emerging as economic powers. The recent EU decision to extend trade-tied aid to Pakistan is a welcome decision that would definitely help the country get rid of some of its economic problems but at the same time it is equally important that the time-limit of three years for the concessions needs to be reviewed. The EU must grant concessions in to as keeping the bed linen out of the list is a great disfavor. But despite all things I would term it a big achievement of the present government and now the people sitting at the helm of affairs must concentrate on winning the same concessions from the United States of America and the United Kingdom. Being a businessman, I am of the strong hope that if the case is pleaded with the US and the UK after evolving a proper strategy, Pakistan is bound to win the favor as both the countries are well versed with the problems being faced by the country in the wake of war on terrorism and recent devastating floods. The writer is the Vice President of SAARC Chamber of Commerce & Industry & Former President of FPCCI.
5
Sunday, November 21, 2010
15 clues to quit Green Tea ALI ZHORAIZ JAFFRI As we know that, Green tea is a type of tea made from the unfermented leaves of Camellia sinensis, which undergoes minimal oxidation at the time of processing. It originates from Chin a and has become popular in other parts of the world like Asia, the Americas, the Middle East, etc. There are different varieties of green tea available in the markets which differ as per their varying growing conditions, processing and reaping time. More than 80 lakh population of Pakistan would like to take green tea, when they are tired or want some drink for refreshment. Some people are those who like take green tea for losing their weight. I also started taking green tea regularly as a habit But when I started taking green tea, I decided to investigate side effects of it. I promise myself that I wouldn't make any recommendation without first understanding the risks. Tea is the second most consumed beverage after water. What can possibly go wrong? Over the last few decades green tea has been subjected to many scientific and medical studies to determine the extent of its long-purported health benefits, with some evidence suggesting that regular green tea drinkers have lower chances of heart disease and developing certain types of cancer. Although there is no scientific evidence that plain green tea can produce weight loss. So those people who take green tea for looking slim keep remember this annotation. Tea health benefits are like 1 million times more powerful than its side effects. Observed side effects are few and far between. Discovered health benefits? There are thousands of them. But there are a few things to be aware of. Sometimes it is better to be safe than sorry. I have to confess I am not in anyway medically qualified. I tried my best to share some important information with you, which are as following: 1:When you have too much caffeine. Tea contains about half the amount of caffeine found in coffee, so moderate consumption of green tea is unlikely to cause problems for the majority of people. If you are sensitive to caffeine, here are the symptoms to watch out for: n Restlessness n irritability n sleeping problems n tremor n heart palpitations n loss of appetite n upset stomach n nausea n frequent urination n skin rash 2: When you have a sensitive stomach. This is very common. Stomach upset is the second most common complaint after caffeine. A 1984 study concluded that "tea is a potent stimulant of gastric acid, and this can be reduced by
adding milk and sugar." Discover the 10 tips of enjoying a soothing cup of tea without experiencing stomach upset. 3: When you are pregnant or are breastfeeding. Green tea contains caffeine, catechins and tannic acids. All three substances have been linked to pregnancy risks. In addition, drinking a large amount may cause neural tube birth defect in babies. Moderate consumption should be okay. But one should consider avoiding it altogether during early pregnancy.
especially bad for kids, and even adults. Potential side effects include weak bones, bad teeth, cancers and allergies. 7: When you suffer from or are susceptible to thiamine deficiency. Okay, I am stretching it a bit here ... Tea reduces the absorption of thiamine (Vitamin B). Thiamine deficiency leads to a condition known as beriberi. Once common to sailors, beriberi is now relatively rare in the Western w o r l d except for
i n alco-
4: When you suffer from, or is susceptible to, iron deficiency anaemia. Tea is known as a "negative calories" beverage. Not only does it contain virtually no calories, it also block the absorption of certain nutrients. One key concern is iron mal absorption. A 2001 study reports that green tea extract reduces the absorption of non-heme iron by 25 per cent. Amazingly, another 2005 study found that long-term drinkers develop protective mechanism by having heavier parotic glands. The protein rich saliva neutralises the harmful effect of tea tannin. 5: When you experience PMS. This is a hard one to call. There is mixed evidence. A 2005 study found that green tea reduces the level of estrogens in the body. It is not clear if this aggravates hot flashes. If hot flashes is a concern to you, please exercise caution with any tea beverage. However, a 2003 study suggests that green tea, when taken with other herbs, may alleviate post menopausal symptoms. 6: When you have young children. If you have young kids, it is advisable for them not to drink tea. This is because tea contains caffeine that may over-stimulate. It also contains tannins that may block nutrients absorption such as protein and fats in children. For older children, it is advisable for them to avoid energy drinks such as Enviga. According to my family doctor, energy drinks contain chemicals such as phosphoric acid, Ace-k and potassium benzoate. They are
holics. 8: When you have too many green tea extract tablets. This is a real risk. Some people prefer consuming green tea tablets rather than brewing hot tea. That is fine. But it is dangerous to overdose. How many tablets can you safely consume? There is no clear cut answer, but some guidelines do exist. 9: When you drink too much. Drinking too much tea can be dangerous. Especially if the tea is low quality. A middle aged woman was diagnosed with skeletal fluorosis for drinking up to 2 gallons of iced tea daily. Why? because her green tea contained too much fluoride. Danger in Instant Iced Tea! Want to know which food and beverage may contain too much fluoride? The USDA database, which contains the fluoride content of more than 400 food and beverages, may be just what you need. 10: When you have or are prone to forming kidney stones. This is a hard one to call. Kidney stones are mineral deposits made up of calcium, uric acid or the amino acid cysteine. At least 3 quarters of kidney stones are composed of calcium combined with phosphate or oxalic acid. Green tea is a concern because it is rich in oxalic acid. However, contrary to expectations, recent studies suggest that green tea inhibits urinary stone formation and prevents kidney stones... Side Effects Alert 11: When you are sensitive to tea. This is another contradicting one Drinking green tea may prevent allergy. But it also contains caf-
feine and tannin that may cause allergy. Side Effects Alert 12: Beware of slimming and weight loss teas. There are many kinds of Chinese slimming and weight loss teas. While green tea is considered safe for long term consumption, slimming and weight loss teas that contain stimulant laxative herbs such as senna leaf and rhubarb root are especially dangerous when consumed in large quantity. The FDA is on red alert. There have been 4 case reports of young women who died, of which herbal diet tea may be a contributing factor. 13: When you don't brush your teeth effectively Drinking tea or coffee stains or discolors the dental plaque, but not the teeth itself. If the plaque is not completely brushed and flossed away within 24 hours, it begins to harden and becomes what is commonly known as tartar. This tartar is porous and further absorbs stains from other food products. When a dentist clean your teeth, they remove the tartar and plaque. When the tartar and plaque go away, so do the teeth stains. 14: When you eat lots of tea leaves The healthiest way to enjoy tea is to brew and drink the liquor. When you drink tea, you are protecting yourself from harmful insoluble solids that may be present in the leaves (such as synthetic pesticide DDT). Matcha green tea sellers claim that when you consume tea powder, you are maximising its health benefits. This is garbage. Drinking green tea is the safest and most proven way of ingesting green tea antioxidants. 15: When you are on medication or have a medical history. This is perhaps the most important side effect of which to be aware. Green tea, like any other tea beverages, can interfere and interact with certain medications. It is wise to avoid drinking any tea beverages 2 hours after taking medications. Green tea contains caffeine. Caffeine can increase heart rate and blood pressure, although people who consume caffeine regularly don't seem to experience these effects in the long-term. Caffeine can also increase blood sugar levels. Diabetes patients should drink it cautiously. The same applies to those with psychological disorders, especially anxiety or panic disorders, and overactive thyroid or hyperthyroidism. Take care if you have severe liver disease, as the level of caffeine in the blood may build up and last longer. Finally, if you have any other health concerns, play it safe. Consult with your health adviser before drinking green tea. I used to take green tea but now I avoid to take it.
Dry fish risks to health T
hough dry fish is a popular delicacy across the country, its consumption is hazardous to human health as the preservative used to keep the fish dry is highly toxic. Dry fish traders at Kharinasi, Ramnagar and Paradip at the Bay of Bengal widely use the preservative to keep the fish dry for longer for export to states like West Bengal, Assam and Chattishgarh. Test of samples of a particular class of preservative used in processing dry fish in a Bhubaneswar-based regional research laboratory found substances of Formalin De-Hyde which is often used to preserve the human body. "It is deadly if consumed raw and if one has to use it for processing dry fish it should be used only in a diluted form," Subrat Das, marine fisheries officer of Paradip zone, said. However, Hemant Biswal, local unit chief of the Orissa Marine Fish Producers
Association, claims that the toxicity content of the preservative is greatly reduced once it is exposed to air. To put an end to the unethical trade practice, the Marine Fisheries Directorate h a s clamped a blanket ban on any form of chemical for dry fish processing. "We have c o m e a c r o s s reports of dry fish traders using preservatives. As the preservative chemicals are suspected to contain toxicity, orders were issued recently on prohibiting its use," Subrat Das said. Notices have been served to
dry fish manufacturing units, marine fishermen's bodies, trawler operators' associations besides fishermen's cooperative societies. Any deviation would be a penal offence under the M a r i n e Fishing Regulation act, 1982, he said. Bibhuti Biswal, a spokesman for the traders, defending the use of preservatives argued that it was a common practice among fishing communities across the country and to the best of his knowledge it was not detrimental to human health. He said that they had stopped
using only a particular brand. Dilip Kumar Biswal, Chief Medical Officer of the Biju Memorial hospital, Paradip, countered the claim, arguing that the samples handed over to them had indeed been found to be toxic and harmful for human health. The CMO said that the matter had been referred to the higherups in the state heath department. Around 500 families, mostly migrant Bengali-speaking people, are in the trade which they have been plying through generations. Over 100 more families are indirectly employed in the trade. Apart from Paradip and adjoining fishing villages in Kendrapara district, the other major dry fish production centre is Huma-Sunakhala in Ganjam district which accounted for 3,500-4,000 tonnes of average annual yield. The produce is transported to places like Rourkela, Talcher, Sambalpur, Bargarh and other parts of western Orissa.-Reuters
Hazards of Palm Oil Wajahat Hasan Rizvi
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ccording to research out of 100 deaths in Pakistan, 25 per cent are died of heart attacks, and one of the main reasons of heart attack is consuming palm oil and banspati ghee that is made up of palm oil. So now you can judge how hazardous is this oil. Palm oil is edible plant oil derived from the fruits of palm trees; palm oil is extracted from the pulp of the fruit of the oil palm. Palm oil contains several unsaturated fats. Palm kernel oil and coconut oil are more highly saturated than palm oil. Like all vegetable oils, palm oil contains saturated fat that increases cholesterol. Palm oil is an ordinary cooking element in the tropical belt of Africa, Southeast Asia and parts of Brazil. Its mounting use in the commercial food industry in other parts of the world is sustained by its inferior cost and the high oxidative firmness of the refined product when used for frying. Palm oil first introduces by Malaysia in 1960 and now Malaysia is the top producer of palm oil in the world as 20.9 million tones production recorded in 2006. FOA data shows that production is increasing by 400 per cent. According to Hamburg based oil world trade journal in 2008, global production of oil and fats stood at 160 million tones and palm oil were the largest contributor accounting for 48 million tones or 30 per cent of total output. Palm oil production as a cause of substantial and often irreversible damage to the natural environment its impact on environment includes deforestation, habitant loss of critically endangered species as the orangutan and Sumatran tiger and significant increases in green house gas emission. The effect on health is so dangerous according to The United States' Center for Science in the Public Interest said palm oil, which is high in saturated and low in polyunsaturated fat, promotes heart disease. World Health Organization (WHO) and other health authorities have urged reduced consumption of palm oil. WHO states that there is convincing evidence that palmitic acid consumption contributes to an increased risk of developing cardiovascular diseases. Palm oil has been banned in many European countries as it is hazardous to health but it's very critical situation that almost 70 per cent of Pakistanis uses this product daily at their home as common cooking ingredient at least three times a day. They don't know palm oil and banaspati ghee that is processed from palm oil is harmful as it blocks the arteries leads to excessive weight gain and high level of cholesterol. More sinister, however is palm oil's links to cancer. According to Dr. ghufraan saeed a PhD scholar at University of Karachi, when he tested a sample of palm oil used in the market to fry samosas and pakoras, he found that its had 1.4 per cent of harmful fatty acids, furthermore when the oil is reheated its produces acroline which is compound that produces cancer, but it also has the powder to genetically pass cancer or from the generation to the next. According to bio Energy Company nearly 80 per cent of Pakistan's domestic consumption of vegetable oil is met by imports, 83 per cent of which is palm oil. In 2009 as estimated 2.23 million metric tons of palm oil was imported and estimate for 2010 is 2.45 million metric tons. Palm oil contributes 2nd largest import budget and by stopping the use of palm oil we can save Rs.50 billion each year and stopping deaths by this. Now it is very important that we should stop using palm oil and head to soybean or corn oil etc that doest contains fatty acids.
Garlic: A secret weapon against hypertension?
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ustralian scientists have found that a dietary supplement may help people who can't control their blood pressure with standard drugs. The secret weapon is garlic, according to a study published in the scientific journal Maturitas. In a 12-week trial involving 50 patients, Karin Ried and a team of colleagues at the University of Adelaide discovered that those who took four capsules a day of a supplement called aged garlic extract lowered their blood pressure by 10 points more than a group given a placebo. The effect was only found in those who had a so-called systolic blood pressure of at least 140 -- the usual cut-off value for high blood pressure -- at the outset of the study. Ried said that garlic taken in any other way, whether raw, fresh or in powdered form, doesn't have the same effect. "When you cook fresh garlic the ingredient which is responsible for reducing blood pressure disappears," she said. "I think the really important point to make is that aged garlic extract as a supplement is the secret weapon for blood pressure." Garlic has long been thought to be good for the heart, and traditional Indian Ayurvedic medicine practitioners have been promoting garlic for high blood pressure for centuries. "Garlic has been used as a treatment to lower blood pressure in Ayurvedic medicine for thousands of years," said Sundari Ganesh, a practitioner of Ayurvedic medicine, told Reuters by phone. But Ried said their research was the first to assess the impact of aged garlic extract, adding that it was evaluated as an additional treatment to other high blood pressure medication -- for instance betablockers and ACE inhibitors. High blood pressure is a major risk factor for coronary heart disease, stroke, and heart and kidney failure. The risk of disease increases as the level of blood pressure increases. Around 1 billion people globally suffer from high blood pressure.-Reuters
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Analysis & Feature
Sunday, November 21, 2010
CHINA’S NUCLEAR PROGRAM BOOSTS URANIUM PRODUCERS * URANIUM DEMAND EXPECTED TO GROW 32 PCT BY 2015 * SPOT URANIUM UP 43 PCT, TO AVERAGE $65/POUND IN 2011 * RISK SEEN FOR NEW PROJECTS IN UNSTABLE REGIONS
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fter weathering a tough third quarter, Canada's uranium producers are looking at much brighter prospects as their shares surge, spot uranium prices jump and growing demand for nuclear fuel pushes expansion into overdrive. Not surprisingly, China is driving the underlying trend. Its ambitious program of building nuclear power plants promises double-digit growth in demand for uranium, a trend that should benefit Canada's established producers and juniors alike. In addition, the Asian superpower could prompt a round of mergers and acquisitions as it looks for ways to control the supply of uranium needed to feed its fleet of reactors. Global uranium demand is expected to grow 32 per cent by 2015, according to RBC Capital Markets, a forecast that already has share prices climbing. Analysts are urging investors to jump on the bandwagon and buy shares of Cameco Uranium One , Paladin Energy and other industry stalwarts."Over the next 10 years, without a shadow of a doubt, we're going to need significant expansions in uranium production," said BMO Capital Markets analyst
Edward Sterck. By 2010, China aims to produce between 80 gigawatts and 112 GW of electricity from nuclear power, up from a current capacity of just 11 GW. In order to start and fuel those new reactors, it will need to buy an additional 82 million pounds of uranium. In 2010, total global production for uranium is estimated to be about 187 million pounds. Annual demand is estimated at 190 million pounds. "In terms of the producers, pick one that has a high degree of exposure to spot prices," Sterck said. "There may be price spikes." Uranium spot prices have risen nearly 44 per cent since June, hitting $58.50 a pound this week. This momentum has helped push shares in Uranium One up as much as 142 per cent, while Paladin has risen almost 60 per cent and Cameco 66 per cent. Stocks slipped earlier this week, as China's nuclear rollout was questioned. But with 23 new reactors already under construction, the country appears to be on track to achieve its lofty nuclear ambitions. "We think that betting against China's ability to attain its goals is dangerous," RBC analysts Adam Schatzker said in a note to
clients. BUYING THE SOURCE But building reactors is just the first step for China. Securing uranium supplies to fuel those power plants will be its next big concern. To that end, the Chinese have already signed three long-term supply deals, one with France's Areva and two with Cameco. Analysts say China will soon take the quest for secure supplies a step further. "In nearly every other commodity, China's gone out there and bought assets to ensure that they have some form of captured supply," said Sterck. "They haven't done that in uranium yet." He said juniors are a prime target, as they are cheaper, and have longer timelines to get into production, which meshes well with China's nuclear rollout.Sterck said he favors Extract Resources as a key target. Other promising names are Mantra Resources and UR Energy. But Sterck doesn't rule out a mid-tier producer being gobbled up by China, or a diversified miner with uranium interests. He sees Paladin, which has no majority shareholder, as a prime takeover target. While he says the climate is ripe for mergers, he emphasizes that higher uranium prices will drive any deal-
making. Higher prices will boost the value on projects that companies had put on the back burner after spot prices tumbled from a peak of about $135 a pound in 2007. Analysts are calling for spot prices to average around $65 a pound in 2011, but there are still risks for investors looking to add uranium producers to their portfolio. Most of the demand is long-term, and much of the future supply is located in politically unstable regions of the world. RISKY REGIONS In 2009, Kazakhstan surpassed Canada as the world's top producer of uranium. Neighboring Uzbekistan and Kyrgyzstan also have large, untapped uranium deposits. But the Central Asian states are rife with political and social unrest -- at least 75 people were killed earlier this year in a bloody Kyrgyz revolt. Fidelity Management fund manager Joe Overdevest said that when picking uranium stocks, like any natural resource, the location of the company's projects should be a top concern. "Number one is political stability, where the actual supply is coming from," Overdevest said. "The future supply coming online is in countries like Kazakhstan, Namibia,
Uzbekistan," he said. "These are not countries that are the most stable politically, so that kind of adds an element of potential risk to future supply." While the uranium sector has not yet seen foreignowned companies lose their resources to nationalism, oil majors have lost stakes in their Kazakh projects to the government.
The majority of Uranium One's projects are in Kazakhstan and Paladin's Langer Heinrich project is in Namibia. Meanwhile Cameco, the blue chip of uranium miners, operates primarily in Canada with one major Kazakh project. According to Thomson Reuters I/B/E/S, Fidelity Management holds a 7.9 per cent stake in Uranium One,
along with smaller stakes in Paladin and Extract. Overdevest said that while project location is a top concern, there are other factors for investors to consider."Number two: how much growth they are offering?" he said. "And number three is execution: a lot of companies can promise production, but can they actually execute on it?" -Reuters
Austerity may not doom Europe govts to fall C
onventional wisdom says governments that slash spending and hike taxes are punished come election time, but a new academic study and early evidence from austerity-hit countries in Europe tell a different story. The re-election of Latvia's government in early October showed how forgiving voters can be of politicians who demand huge sacrifices in times of crisis. Prime Minister Valdis Dombrovskis cut public sector pay by up to 50 per cent in a country rocked by recession and surging unemployment but was returned to office by an electorate which believed he was only cleaning up a mess left by others. Greek local elections last weekend -- the first real ballot test for a euro zone government imposing draconian budget cuts -- sent a very similar message, even if many saw record low turnout as a warning to the ruling PASOK party. Prime Minister George
Papandreou, who had threatened to call a snap general election if voters turned against his party, ended up snatching control of Athens from the conservative opposition and winning a betterthan-forecast 8 of 13 regions. "When you look at the participation rate, the vote showed how angry people are with the government's economic policies," said Costas Panagopoulos, head of the ALCO polling group. "But at the same time voters were saying they saw no alternative, that Papandreou is the best person to handle the crisis."It is early days in Greece and countries like Portugal, Spain and Britain, whose populations have yet to feel the full impact of austerity measures announced by their governments. In Ireland, deeply unpopular Prime Minister Brian Cowen is clinging to a razorthin majority in parliament and could be booted out within months. As 2011 unfolds, public anger across Europe at a
wave of wage cuts, pension freezes and tax increases is likely to grow and the popularity of ruling politicians fall, as it has in many countries already. NO BACKLASH Much may depend on the electoral cycle, with newly elected governments having more legitimacy to impose austerity than those that were already in office before the crisis struck. But recent history suggests that leaders who introduce unpopular measures can avoid paying the ultimate price with voters, according to a forthcoming paper by Harvard economist Alberto Alesina, Dorian Carloni of the University of California Berkeley and Giampaolo Lecce of New York University. The authors looked at the 10 largest fiscal tightenings in OECD countries over the past 30 years and found no evidence that the governments that implemented them suffered inordinately at the polls. In fact, the data
showed they were less likely to encounter a voter backlash than the average incumbent. "The evidence that governments which impose large fiscal adjustments are thrown out of office simply isn't in the data," Alesina told Reuters. "What we've seen in Greece is a perfect example. When the government announced its rescue deal with the EU and IMF (in May) there was violence in the streets, but in this vote they did fine. The politics of the street is very different than the dynamics of an election." There are special factors at play in Greece. Papandreou ousted the conservatives from power only a year ago, when the public debt and deficit were already spiralling out of control. It emerged after the election that the outgoing government had fiddled the figures to conceal the fiscal gap, so Papandreou has escaped much of the blame for the country's plight. He now faces no further
electoral tests until the next national vote in three years' time. In Britain, the coalition government of Prime Minister David Cameron has seen its popularity fall since ousting Labour in May, but can hope the economy will recover from the 81 billion pounds ($129.1 billion) in cuts it plans by the time the next vote takes place. Other governments, such as that of Spanish Prime Minister Jose Luis Rodriguez Zapatero, don't have the luxury of waiting or blaming the opposition for their country's woes. Zapatero's Socialists, in power since 2004, face a crucial test in May 2011 when Spain holds regional and local elections and another a year later when the next national vote is held. Spain's 20 per cent unemployment rate, anaemic growth and the controversial spending cuts, labour reforms and tax hikes Zapatero has pushed through would seem to doom his
chances. Still, some analysts believe the Socialists could yet win a third term in 2012 against the conservatives, whose leader Mariano Rajoy is even less popular than the prime minister. Zapatero's poll numbers have bounced back in recent weeks after he reshuffled his cabinet -- a strategy also used by Papandreou in Greece and by French President Nicolas Sarkozy. "My counter-intuitive view is that the Socialists will win the (Spanish) election in 2012," said Charles Powell, a historian at the San PabloCEU University in Madrid. Dominique Moisi, senior adviser at the French Institute of International Relations in Paris, says the shock of Europe's debt crisis has given rise to a "new realism" among citizens who recognise they have lived above their means and are ready to accept sacrifices -without necessarily blaming their leaders. But others believe that attitude won't last, particularly if
hard-hit countries on the euro zone periphery struggle for years to emerge from a crisis that has shaken the single currency area. "The politicians have succeeeded for now in imposing spending cuts, but what happens in round 14 or 15 of those cuts," said Charles Grant, director of the Centre for European Reform in London. "I think Ireland can take a lot more pain as the Latvians did, but I'm not convinced the Greeks and some Mediterranean countries with no tradition of budget discipline will." The event that historical evidence shows would be most likely to push voters over the edge is a default -- a fate some economists believe Greece and possibly Ireland may not avoid. A 2008 study by the International Monetary Fund (IMF) showed that in 18 out of 19 countries that defaulted over the previous decade, the ruling parties lost the next vote. -Reuters
Obama’s GM success dented by bailout, jobs angst G
eneral Motors Co's swift journey from dying company to blockbuster IPO is a remarkable story by any measure. Yet President Barack Obama and his Democrats have received little political credit for it, even though White House "car czars" engineered the transformation as they shepherded the automaker through a goverment-sponsored bankruptcy. Instead, American voters demonstrated again this month that they loathe bailouts, much to the detriment of Democrats. A desire to limit further political damage well ahead of the 2012 presidential election could influence the Obama
administration's exit strategies for remaining taxpayer investments in GM Chrysler Holdings, American International Group and smaller banks. "They saved the company, they saved an industry, but it doesn't seem to have any political traction," said Julian Zelizer, a historian and public policy expert at Princeton University. "As long as high unemployment continues, people are just suspicious of any claims of success," he added. "That's not what most Americans see on the ground." Obama trumpeted GM's journey as a "success story" and said taxpayers were on track to recover more from the
automaker than the $30 billion his administration spent on the restructuring. That does not count the nearly $20 billion spent during the Bush administration in 2008 to bail out GM. GM shares rose in their debut to close at $34.19 from their $33 IPO price. Still, they would need to reach about $49 for the government to declare a profit on the bailout. For more, Officials will have to balance a desire to show a profit for taxpayers against the desire to trumpet a full exit. White House spokesman Robert Gibbs said the administration was hopeful the government could be fully out of its GM investment by mid- to
late 2012. "It was the right thing to do and I think that it's had a tremendous impact on our economy," he said. "We've seen jobs that haven't been lost as a result of it." INDIANA INDIFFERENCE But voters showed indifference in Indiana, a state that where tens of thousands of jobs were saved by the bailouts of GM and Chrysler. In mid-term elections, Indiana voters handed Republicans a US Senate seat and two House of Representatives seats previously occupied by Democrats. Obama and Vice President Joe Biden next week are slated to visit Kokomo, a city that had
5,000 GM and Chrysler jobs saved. "If you go outside New York and Washington DC, it's hard to find people who believe that the bailouts were a success. There's a huge disconnect," said Alex Conant, a Republican political strategist in Washington. "The administration can argue that this didn't cost taxpayers as much as originally feared, but they're missing the point that people feel the government should not be bailing out private companies." The GM IPO also has not changed the Treasury Department's estimate that the ultimate cost of the $700 billion bailout fund will be only about $30 billion, a figure that
has marched steadily downward over time. Analysts believe the Treasury is likely to employ a tactic it has used over the past year to sell down its stake in Citigroup Inc through regular share sales in the market under a trading plan designed not to tank the share price. Reaching the Treasury's GM break-even target could prove difficult, as a steady stream of GM shares sold in the market could sap momentum from the company's recovery. Citi shares, for example, have been mired around the $4 range for the better part of a year. As it gauges how best to sell GM shares, the Treasury also
is expected to begin selling off its 92.5 per cent stake in bailed-out insurance giant AIG next year. It also may begin preparations for a Chrysler IPO, though the government's stake in the Fiat-linked automaker is a much more manageable 10 per cent. An Obama re-election bid in 2012 is not likely to be helped if the Treasury is still selling off shares in bailed-out companies -- even at a profit -- as the election approaches, Princeton's Zelizer said. "The best bet is for him to finish this up, get out as quickly as possible and hopefully the economy is stable and starts to grow," he added. Reuters
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Sunday, November 21, 2010
J&J, Takeda recall batches of cancer drug Velcade
BASEL: People reflected in a window as they walk past the headquarters of Swiss pharmaceutical company Roche in Basel. -Reuters
BTG agrees to buy Biocompatibles LONDON: British pharmaceutical group BTG is paying 177 million pounds ($282 million) in cash and shares to buy Biocompatibles, adding oncology products to the portfolio of specialist products it offers to hospitals. Chief Executive Louise Makin said BTG, a known biotech consolidator since buying Protherics in 2008 to provide revenue to fund its development programme, had been looking for another business with high-margin, highgrowth products sold to specialists. Biocompatibles, which develops drug-eluting beads that deliver oncology drugs to the point of need, mainly to treat liver cancer, fitted the
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bill, she said. "They are sold to interventional radiologists, and they have a significant business in the U.S. that is currently sold directly, but they also sell through distributors," she said in an interview on Friday. Some of the distributor sales would be taken back in house at the end of the year, she said, and there was an option to break the other agreement at the end of next year. That would complement the sales force BTG has recently built to sell its anti-poison drugs CroFab and DigiFab, which it gained in the Protherics deal. "Were we to go direct in the U.S, it would exactly leverage that back-office infrastruc-
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Altaf Hussain commended Rehman Malik's efforts for elimination of corruption. Altaf Hussain said that MQM wanted complete extirpation of corruption from the country and MQM would support all efforts in this connection. -Online
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the war against al Qaeda and its allies. They have killed a number of high-value targets, including the former Pakistani Taliban chief Baitullah Mehsud. More than 240 people have been killed in 45 strikes since September 3, angering the government, which is facing criticism for acquiescing to the attacks and reprisals from militant groups based in the area. The US considers Pakistan's tribal belt an al Qaeda headquarters, and has reportedly criticised Pakistan's failure so far to launch a major ground offensive in the tribal region of North Waziristan. -Agencies
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possible action would be taken against officials responsible for corruption in Hajj affairs. Talking to Online here, Federal Minister appreciated the step of taking notice of corruption in Hajj arrangements. He said that Hajj officials deployed in Saudi Arabia did not work honestly due to which Hujjaj had faced difficulties. He said that officials deployed in Makkah and Jeddah made poor arrangements for Pakistani pilgrims, in current year. He said that Joint Secretary Hajj Raja Aftab ul Islam refused to listen to complaints by the pilgrims despite being present in Saudi Arabia while active DG Hajj also remained limited at office. -Agencies
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in 2005-06 for the acquisition of 18, F-16 C/D Block 52 aircrafts. Under this arrangement, the PAF would receive these stateof-the-art aircrafts from the US in staggered batches. Earlier, three F-16 C/D Block 52 high tech fighter aircrafts has arrived in October, sources concluded. Another batch of six F-16 C/D Block 52 aircraft will be delivered in December this year. -Online
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It is worth mentioning here that the federal religious minister would present the detailed report to the Prime Minister regarding the corrupt officers who were involved in corruption on hajj affairs due to which the pilgrims in Saudi Arabia faced difficulties. -Online
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used in the blast, adding a part of the attack was carried out on the lines of Islamabad five-star hotel and part was like Multan and FIA building attacks. According to the report the modus operandi of the attack bears the footmarks of Tehreek-e-Taliban Pakistan. Eight samples of explosive material have been sent to Islamabad Forensic lab to ascertain the type of explosive used. The report is expected in next few days. Sources also added that Interior Minister Rehman Malik will visit Karachi and will discuss about the progress of CID building blast from Investigation team. According to footages a white truck is seen on the road at around 8.17 which is completely covered from all the sides. According to the sources, all the investigative agencies are agreed upon the fact that truck was used for the blast. Investigative agencies are of the view that the truck passed through such roads as lacked CCTV cameras. There is another probability that the truck might have passed through the PIDCbridge to reach the CID building. -Agencies
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domestic terrorism as well as huge economic losses. He said that the floods played a devastating effect on our economy. -Online
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The bomb disposals defused the bomb. According to eye witness six militants had launched an attack at the workshop and manhandled the guard. It is pertinent to mention here that Ring road goes to Afghanistan via Torkham border. It is third attack on Nato oil tankers. The Ring Road was closed for traffic as the fire was put out by firefighters after hectic efforts. No one has claimed responsibility for the attack. -Online
ture, and takes us into interventional medicine, which starts to get into the sort of area where Varisolve may be," she said. Varisolve is BTG's varicose vein treatment, which is in late-stage trials and which it intends to sell itself in the United States. Shares in Biocompatibles, which said it was in offer talks in September, rose as much as 16 percent to an alltime high of 390 pence and were trading up 11.7 percent at 376 pence at 1135 GMT. BTG's stock, which has risen 21 percent in the last three months, partly in anticipation of a deal, analysts said, was down 11 percent at 223.3 pence. -Reuters
NEW YORK: Johnson & Johnson and Millennium Pharmaceuticals are recalling thousands of vials of the cancer drug Velcade sold in Europe, the United States, Japan and Malaysia after receiving reports of white particles seen floating in vials of the medicine. The particles were found in batches of the drug distributed between January and June of this year. They have been identified as a polyester-like material related to a component of the manufacturing process performed by a contract manufacturer for Millennium, which is now a unit of Japan's Takeda Pharmaceutical Co. Velcade, known chemically as bortezomib, is approved to treat multiple myeloma and relapsed mantle cell lymphoma. It is sold by Millennium in the United States and by J&J unit Janssen-Cilag in Europe and the rest of the world.The recall was the latest to hit J&J, which has been plagued by massive recalls of numerous consumer products, such as Children's Tylenol and Motrin, keeping those medicines off pharmacy shelves for months. Six lots of Velcade were voluntarily recalled in Europe and Japan following five reports of floating particles in samples from two of the recalled batches after the powder form of the drug was reconstituted, according to details listed on the U.K. -Reuters
Europe shares rebound on strong drug-makers LONDON: European equities bounced back on Wednesday, with a surge in Actelion on reports of bid interest from Amgen boosting pharma shares, while miners rose after supply worries pushed up metals prices. The FTS Eurofirst 300 index of top European shares provisionally closed 0.6 per cent higher at 1,092.68 points, rebounding after suffering a 2.3 per cent drop on Tuesday -- the index's biggest one-day retreat in nearly 5 months. Investors kept a close eye on the situation in Ireland, which agreed to work with a European Union-IMF mission on urgent steps to shore up its shattered
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Merck HDL drug appears safe, very effective-study NEW YORK: An experimental Merck & Co heart drug, from a class of medicine with a troubled past, appeared to be safe and had a "jaw dropping" effect in boosting good cholesterol and lowering bad cholesterol, according to data from a clinical trial. Merck's anacetrapib increased good HDL levels by a stunning 138 percent after 24 weeks of treatment, and lowered levels of bad LDL cholesterol by 40 percent in patients already taking LDL-lowering statins, researchers said. "The lipid effects are jaw dropping in both directions," said Dr. Christopher Cannon, the study's lead investigator from Brigham and Women's Hospital in Boston. He presented the data at the American Heart Association scientific meeting in Chicago on Wednesday. Researchers found no anacetrapib safety issues during the 18-month study, and patients receiving the drug had fewer serious heart problems than those given a placebo. Even if development of the medicine continues without a hitch, however, it will likely be at least five years before Merck can begin selling the drug.The best and biggest-selling current treatments for heart disease are statins, like Pfizer Inc's Lipitor, that cut LDL cholesterol and reduce the risk of heart attack by up to 30 percent. Some doctors also prescribe niacin, a B
vitamin that can boost heartprotective HDL 25 percent but is not widely used because it causes uncomfortable facial flushing. Cannon said the hope now is that more-potent and easier to use HDL raisers, like anacetrapib, will further reduce heart risks, something that must still be proved with a large, multiyear study. Physicians attending the presentation came away impressed."My bet is that anacetrapib will become as important as statin therapy, and might in some patients actually replace statins," said Dr. Patrick Couture, an internal medicine specialist at Laval University in Quebec City. Cannon said the Eureka moment for him came when he saw the data showing only eight patients taking anacetrapib needed artery-opening procedures during the 18month study, compared with 28 in the statin-only group. "That was the moment for me, when I said, 'This looks like it's real.'" Merck shares closed up 37 cents, or 1.1 percent, at $34.47 on the New York Stock Exchange. PFIZER FLOP Anacetrapib belongs to a class of drugs called CETP inhibitors that produced one of the most spectacular clinical failures in pharmaceutical history. A pivotal study of Pfizer's highly touted torcetrapib was stopped in late 2006 after higher death rates were found
among those taking the drug, once projected for annual sales in excess of $10 billion. Based on the data from the anacetrapib trial, called Define, "we are 94 percent confident that anacetrapib doesn't have the clinical (side) effects of torcetrapib," Cannon said. The HDL increase seen with anacetrapib "is double what torcetrapib does; it's four times what niacin can do if you can push niacin to its full 2-gram dose; and 10 times the effect seen with statins," Cannon said, comparing anacetrapib with other therapies. Anacetrapib also cut by 36 percent levels of LP(a), which is believed to be an independent cardiovascular risk factor. The 1,623-patient, trial was designed to show anacetrapib does not have the unintended effects on blood chemistry and increased blood pressure found in detailed analyses of what went wrong with the Pfizer drug. Compared with the placebo group, patients receiving anacetrapib in the study showed no difference in electrolytes, aldosterone or blood pressure, and no other safety concerns were seen with the drug, Cannon said. "This trial was set up so that we would have some more reassurance that the drug was safe before doing a gigantic trial. And that's what we found, that it looks safe so far," Cannon said. -Reuters
banking sector, a process that could lead to a bailout despite Dublin's deep reluctance. "If Ireland gets the financial aid, then in the short term this should lead to some relief for the equity market. However, any form of financial assistance is not a solution as such to the underlying causes of the tensions in the euro zone," said Tammo Greetfeld, equity strategist at UniCredit. Actelion jumped more than 9 per cent on reports the world's largest biotech firm Amgen was studying a takeover offer for the Swiss drugmaker, which said it was in "regular dialogue" with other industry players.-Reuters
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He vowed that the US would maintain long-term ties with the BURGDORF: The logo of the Swiss drugmaker Roche is seen on a factory in Burgdorf.-Reuters region beyond the 2014 year, when Afghan forces are expected to assume security control of their country. "Our strategy is a regional strategy and we have invited countries from Pakistan to India to engage in and support this transition in Afghanistan. That is perhaps the most significant change that we have put into effect over the last 18 months and almost two years. It's to take from being just about Afghanistan to being about the region as a whole. He said stability in Afghanistan, promotion of Afghanistan's Diovan, a $6 billion-a-year increase the market positions of economic cooperation in the region, and development of institu- LONDON: Novartis AG won't tions in that country will help transform the region and benefit reduce investment on the hunt product, is about to tumble over the platforms that we have. But for new drugs and will search the patent cliff, facing generic many companies are chasing both Pakistan and India. -Reuters for bolt-on acquisitions, partic- competition in Europe next the same assets within those Continued from page 8 No #10 ularly in emerging markets, as year, the United States in 2012 sectors, so if that weren't possihas been nominated from Khyber-Pakhtunkhwa. it ramps up a group-wide drive and Japan in 2013. ble then we would look to a ANP, MQM and JUI-F vehemently protested against nom- to improve efficiency. BOLT-ON BUYS sixth pillar," Jimenez said. inations in Parliament Commission. Prime Minister Syed Chief Executive Joe Jimenez The former H.J. Heinz Co Novartis has pushed the Yousuf Raza Gilani made telephonic contact to leader ANP, believes cost-cutting and executive, who took over in envelope further than its Big Asfand Yar Wali to take him into confidence in this connec- investment must go hand in February, said in the interview Pharma rivals in seeking to tion. hand as the diversified Swiss Novartis was seeking add-on diversify -- for example, by Parliament Commission's session over judge's appoint- drugmaker adapts to a tougher acquisitions as part of a bid to embracing once-unfashionable ment is going to be held tomorrow. healthcare environment. drive growth in its five main generic medicines, which are Sources further told that after protest by ANP, members "We fundamentally reject the units -- pharmaceuticals, con- now area for expansion by PPP recommended to keep the committee intact. -Online idea of those companies that sumer health, eye care, generic many drugmakers seeking believe they can save their way drugs, and vaccines and diag- growth in emerging markets. Continued from page 8 No #11 Jimenez was coy on future The SNGC has announced weekly two-day gas shutdown for to prosperity," he told Reuters nostics. on Wednesday. "Bolt-on acquisitions, any- diversification options but said Faisalabad industries in view of the shortfall. -Agencies "We must continue to keep thing in the $1 billion to $2 bil- the clear focus on scienceContinued from page 1 No #12 research and development lion range per year, will be based products meant Novartis NATO is to invite Moscow to take part in the US-European strong and the only way we can acquisitions that we will pur- would never be as diverse as missile defense shield and agree on expanding the alliance's do this is if we pull costs out of sue," he said. Johnson & Johnson. supply routes for Afghanistan through Russia. some of our other areas like "Candidates in China, Russia Playing down the idea of Earlier on Saturday, the NATO chief pledged that the mili- manufacturing, marketing and and Brazil would be potential share buybacks, Jimenez said tary alliance would not abandon Afghanistan to its "enemies." sales, and procurement." targets," he added. using the group's expected He said Nato would stay "as long as it takes to finish our job," The Basel-based group highJimenez is also keen to build strong cash flows to pay off adding that Afghanistan's fight against terrorism is of "strate- lighted these three areas as tar- up the smaller animal health debt would be the priority "at gic, global importance." gets for cost-cutting as it set out business. He declined to com- least for the foreseeable On Friday - the opening day of the summit - the Nato lead- its long-term strategy, echoing ment on Novartis's interest in future". ers reached agreement on establishing a missile defense sys- a more detailed cost-reduction veterinary assets being sold by Novartis shares were 0.3 per tem that will cover all member countries, including the United programme outlined by cross- Merck & Co Inc and Sanofi- cent lower by 1545 GMT, States. town rival Roche Holding AG. Aventis SA. underperforming a 1 per cent Nato members also backed the approval of a START missile Looking relaxed ahead of a Longer term, Novartis could rise in the European drugs secpact. Obama has called on the U.S. Senate to ratify the treaty briefing for investors in add a sixth "pillar" to its busi- tor. between Moscow and Washington, aimed at cutting deployed London, the 50-year-old ness in another new science- SEEKING ALL OF ALCON nuclear weapons by about 30 per cent. -Reuters Novartis boss said he aimed to related health area, once it has Novartis is still seeking to Continued from page 8 No #13 grow operating income margins paid off debt related to the clinch 100 per cent ownership "She is a helpless woman. She can't legally defend herself over the next five years despite acquisition of U.S.-listed eye of Alcon, Jimenez said, but because she does not have resources. Implicating such helpless loss of sales from top sellers, care group Alcon over the next added he could not predict minorities in such cases amounts to ridiculing the constitution of including blood pressure drug four years. when this deal would be Pakistan," Taseer added. -Agencies Diovan. "Ideally, I would love to wrapped up.-Reuters
Novartis commits to investment, eyes buys
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ECP summons nine MPs ISLAMABAD: The Election Commission of Pakistan (ECP) has summoned nine elected members, who are holding seminary degrees on Monday. These members include Senator Wali Mohammad Badini and two MNAs, Mir Hamdan Khan Bugti and Haji Rozuddin, reported a private TV channel. Besides, Ejaz Ahmed and Malik Iqbal Langrial of Punjab Assembly and Khyber Pakhtunkhwa's Maulvi Ubaidullah and Khalifa Abdul Qayyum have also been summoned to the ECP on Monday. According to sources, the Election Commission has also invited a representative of the Wifaq-ul-Madaris to verify the submitted seminary degrees. -Agencies
YANGON: Aung San Suu Kyi (top C) poses for a photograph with politicians during a visit to a senior politicians house in Yangon. Suu Kyi welcomed a new US engagement with Myanmar's junta, but warned against 'rose-colored glasses'. -Reuters
‘Hope more respects for human rights respect’
USA must keep its eyes open in junta talks: Kyi YANGON: Democracy icon Aung San Suu Kyi welcomed a new US engagement with Myanmar's junta, but warned against 'rose-colored glasses' saying greater human rights and economic progress was still needed. "There are a lot of people who say that now that the US has decided to engage with the military regime, they have turned their back on us," Suu Kyi told CNN after being freed from years of house arrest. "I don't think of it like that. I think engagement is a good thing," she said in comments broadcast by the US television network. But she cautioned: "I don't want them to go into engagement wearing rose colored glasses. I would want them to be practical about it." The administration of US President Barack Obama last year initiated a dialogue with Myanmar after concluding that the longstanding US policy of isolating the military regime had failed to bear fruit. The Nobel peace laureate, who has been locked away
for 15 of the last 21 years, said US officials should not be under any illusions about the real situation in her country, also known as Burma. She stressed Washington must be "keeping your eyes open and alert and seeing what is really going on, and where engagement is leading to and what changes really need to be brought about." "I think we would like to have more respect for human rights in Burma than at present. We would like economic progress, but I think that has to be balanced by what I would think of as accountability," she added. Kurt Campbell, the assistant secretary of state for East Asian affairs, has been leading the dialogue, but said in September that he had been disappointed with the results so far. "We believe there needs to be a strong, unified, firm message; that there needs to be change in Burma," said State Department spokesman Phillip Crowley. He stressed that Washington places "a spe-
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cial responsibility on the government of Burma to guarantee" Suu Kyi's safety as she reconstitutes her party and meets with her advisors. "Ultimately, Burma has to change," Crowley said. "It has to have greater political space. It has to have a meaningful dialogue with other ethnic groups. That's the only way that Burma's going to be able to move away from its current isolation." The US administration has also renewed calls for the Myanmar authorities to release all of the country's estimated 2,100 political prisoners. Asked by CNN whether she feared being arrested again, Suu Kyi said: "So many people ask me this question and the only thing I can say is, I don't know. It's always a possibility. After all they have arrested me several times in the past. "There's nothing to say that they won't arrest me again," she added. "But you can't keep thinking about that, you just have to keep on with your work." Reuters
Militants torch ten Nato tankers PESHAWAR: The militants attacked a workshop and set on fire 10 Nato oil tankers destroying them completely here in Ring Road on Saturday while bomb has been defused here in the same site. As per details, the militants targeted the workshop in Ring road and torched the Nato oil tankers. Soon after the incident the police and rescue teams rushed at the spot and found bomb. See # 8 Page 7
ANP conveys reservations to PM Gilani PESHAWAR: ANP has apprised Prime Minister Syed Yousuf Raza Gilani about its reservations over nominations in Parliament Commission for judges' appointment. As per details, four members have been nominated from PPP for judges' appointment. Arbab Alamgir See # 10 Page 7
SNGC extends gas-cuts duration LAHORE: Sui Northern Gas Company (SNGC) has increased gas load management duration forcing shut down of several factories in Faisalabad. According to media reports, the gas company was not getting required amount of gas from Qadirpur and Zamzama gasfields and facing a shortfall of 400 million cubic feet. The company has decided to enhance the duration of the gas load management and supply to power houses, cement and some other sectors will be closed. See # 11 Page 7
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Former US Secy of State speaks to CNN
Powell urges more military aid for Pakistan WASHINGTON: Obama administration must equip Pakistan with additional necessary intelligence and mobility capability to help the South Asian ally perform more effectively in the fight against terror, former US Secretary of State Colin Powell said. "I just met with General Kayani a few weeks ago. And he's got a tough problem. This is the most difficult terrain imaginable. And he has troops, but he doesn't have the kind of mobility or
intelligence capability that he needs," Powell told CNN. "So if there's one recommendation I would give to our government, we've got to do a better job of giving General Kayani and the Pakistani armed forces the wherewithal to get into these very difficult areas," the former top US commander added. He told the channel that Pakistan was facing a massive challenge in the difficult terrain. "It is a difficult terrain. I
mean, we - we often think about that region as if you can just go anywhere you want in a few hours. And we - we have to keep this in mind, too, when we talk about Pakistan, because our Pakistani friends are an important part." Powell said the US understands the problem. "And I think they are trying to provide him more resources, more money. But I still think it's inadequate to the task that he's facing," he remarked. -Reuters
Pak, India urged to settle Kashmir: US WASHINGTON: Calling Kashmir a "vitally important" question, the United States has said it is encouraging both Pakistan and India to discuss and move towards a resolution of the decades-old South Asian dispute. "On the issue of Kashmir, we continue to encourage dialogue between Pakistan and India on this vitally important question. We are supporting both countries in trying to find a way to discuss this issue, and reduce tensions and ultimately resolve this issue," Assistant Secretary of State for Public Affairs Philip J Crowley said. He told a briefing on global issues that the importance of the Kashmir dispute has not diminished in Washington's perspective. "Fundamentally, we haven't changed our view on its importance. But, you know, ultimately, this has to be the issue
that is resolved first and foremost between those two countries and we continue our dialogue with both India and Pakistan to encourage a resolution," the State Department spokesman said at the Foreign Press Center. Crowley said the Kashmir issue came up in one of President Barack Obama's activities during his recent visit to India. He was asked to comment on the lingering issue in the light of President Obama's election pledge about the importance of resolving the Kashmir conflict and no public mention of the ongoing human rights situation in the disputed region during his recent trip to New Delhi. When asked to comment in the context of acclaimed Indian writer Arundhati Roy's raising the question if the US economic interests trample
over other issues (like Kashmir), Crowley said the US has multi-dimensional relations with several countries and focus on one issue does not preclude attention to other issues. "Our relations with many countries in the world have more than one dimension. We can have an economic, security, environmental, human rights dialogue with many countries from India to China, to Russia to other countries. "And so the fact that we do one thing does not preclude focus in other areas as well," he stated. On the US Afghan strategy, Crowley said the Obama Administration's policy on Afghanistan is regional and that the US has sought cooperation from both Pakistan and India for transition in the strife-hit country. See # 9 Page 7
US starts digging out insider-trading scam WASHINGTON: The US government is preparing insider-trading charges against a large group of financial consultants, investment bankers, hedge-fund and mutual-fund traders and analysts across the nation, The Wall Street Journal reported Saturday. Citing unnamed people familiar with the matter, the newspaper said on its website that in what could be the largest insider-trading probe in
US history, investigators are examining whether multiple insider-trading rings reaped illegal profits totaling tens of millions of dollars. Some charges could be brought before the end of the year, the report said, and could expose a culture of pervasive insider trading in US financial markets. Among the expert networks whose consultants are under investigation is Primary Global Research
LLC, a Mountain View, California, firm that connects experts with investors seeking information in the technology, health-care and other industries, the paper noted. Prosecutors are also examining whether Goldman Sachs Group bankers leaked information about transactions, including health-care mergers, in ways that benefited certain investors, The Journal said. -Agencies
Asiya seeks presidential pardon ISLAMABAD: A Christian woman sentenced to death on charges of blasphemy said Saturday she had been wrongfully accused by neighbours due to a personal dispute, and appealed to the president to pardon her. Asiya Bibi, mother of four, is the first woman to be sentenced to death under Pakistan's blasphemy law which rights groups say is often exploited by religious extremists as well as ordinary Pakistanis to settle personal scores. "I told police that I have not committed any blasphemy and this is a wrong accusation, but
they did not listen to me," Bibi told reporters after meeting with Salman Taseer, governor of the central Punjab. "I have small kids. I have wrongly been implicated in this false case," she said in the prison. Taseer said he would take up Bibi's case with President Asif Ali Zardari, who has the constitutional power to pardon her. "Inshallah her appeal will be accepted," Taseer said, adding that he had studied Bibi's case and found that she had not committed any blasphemy. See # 13 Page 7
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