International Karachi, Sunday, October 24, 2010, Zul-Qa’dah 15, Price Rs12 Pages 8
G20 averts trade war, seals IMF power shift
Qamar sees no end in sight for gas load shedding
See on Page 8
Leaked US documents show 'truth' on Iraq
See on Page 8
US jailed Pakistani for helping Taliban
See on Page 8
See on Page 8 Economic Indicators $17.10bn 13.77% $5.18bn $9.03bn $(3.85)bn $(545)mn $2.65bn $455.10mn Rs 310bn $55.63bn Rs 4863bn $100.90mn -3.85% 4.10% $1,051 170.86mn
Forex Reserves (15-Oct-10) Inflation CPI% (Jul 10-Sep 10) Exports (Jul 10-Sep 10) Imports (Jul 10-Sep 10) Trade Balance (Jul 10-Sep 10) Current A/C (Jul 10- Sep10) Remittances (Jul 10-Sep 10) Foreign Invest (Jul 10-Sep10) Revenue (Jul 10-Sep 10) Foreign Debt (Jun 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Aug 10) LSM Growth (Aug 10)
GDP Growth FY10E Per Capita Income FY10 Population
Portfolio Investment SCRA(U.S $ in million)
64.28 15.05 -1.98 2505
Yearly(Jul, 2010 up to 21-Oct-2010) Monthly(Oct, 2010 up to 21-Oct-2010) Daily (21-Oct-2010) Total Portfolio Invest (15 Oct-2010)
NCCPL (U.S $ in million)
FIPI (22-Oct-2010) Local Companies (22-Oct-2010) Banks / DFI (22-Oct-2010) Mutual Funds (22-Oct-2010) NBFC (22-Oct-2010) Local Investors (22-Oct-2010) Other Organization (22-Oct-2010)
1.03 3.20 -4.91 2.33 -0.94 -0.14 -0.56
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$.Price PKR/Shares 2.60 111.61 19.10 163.97 2.00 42.93 1.70 36.49 9.96 34.20
Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)
12.77% 13.08% 13.22% 13.50% 12.70% 12.99% 13.21% 13.61% 13.71% 13.62% 13.75% 13.80% 14.22% 14.36% 14.52%
20-Oct-2010 20-Oct-2010 20-Oct-2010 29-Sep-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010 22-Oct-2010
Commodities Crude Oil (brent)$/bbl 82.96 Crude Oil (WTI)$/bbl 81.69 Cotton $/lb 119.71 Gold $/ozs 1,325.10 Silver $/ozs 23.12 Malaysian Palm $ 968.70 GOLD (NCEL) PKR 36,739 KHI Cotton 40Kg PKR 8,359
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Buy (Rs)
Australian $ 84.55 Canadian $ 84.60 Danish Krone 14.80 Euro 118.60 Hong Kong $ 11.00 Japanese Yen 1.041 Saudi Riyal 22.90 Singapore $ 65.36 Swedish Korona 12.10 Swiss Franc 88.00 U.A.E Dirham 23.20 UK Pound 136.35 US $ 86.05
Sell (Rs)
84.75 85.10 15.20 119.10 11.30 1.067 23.20 65.60 12.60 88.50 23.55 136.60 86.30
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Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $
Buying TT Clean
Selling TT & OD
84.12 83.66 16.03 119.53 11.05 1.057 22.88 65.90 12.86 88.59 23.36 134.92 85.85
84.32 83.86 16.06 119.81 11.08 1.059 22.93 66.05 12.89 88.79 23.41 135.24 86.03
Weather Forecast CITIES
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Gilani tells Taseer to improve ties with PML-N
$2 billion for mily assistance
Govt committed to reconciliation: PM
Pak-US to finalse aid modalities jointly: FO
‘PPP to emerge as winner in next general elections’ LAHORE: Prime Minister Syed Yousuf Raza Gilani on Saturday said Pakistan Peoples Party (PPP) brought the politics of vendetta to an end. Addressing a gathering of the party's parliamentary leaders in Lahore, he said his government will complete its constitutional term, adding that despite political challenges, government is committed to reconciliation. "We are keeping our promise on the Charter of Democracy (CoD) and will continue to do so in future," he said. The PPP government has ended the politics of retribution, which is why there are no political prisoners in the country, he said. Prime Minister Gilani emphasised that the hopes of those conspiring and wishing for a clash between the institutions have been dashed to the
LAHORE: Prime Minister Syed Yousuf Raza Gilani chairing a meeting Governor Punjab Salman Taseer here on Saturday. -APP
ground, adding democratic government would complete its constitutional term and would emerge as a winner in the next general elections. He said that people have
given us 5-year mandate and we would complete this mandate despite many challenges and difficulties the government has achieved many success in its two and half year of
term. PM said that we are still facing problems of rehabilitation of flood affectees and reconstruction but the PPP with the See # 1 Page 7
ISLAMABAD: Foreign office spokesman Abdul Basit said that modalities of military aid worth $2billion would be decided after mutual consultation with US. Talking to private TV channel here Saturday, Abdul Basit said that Pak-US Strategic Dialogue would not benefit one individual but it is in the best of public interest. He said that nature of Pak-US relations have changed considerably. He said Pak-US Strategic Dialogue is not just related to security but would directly benefit the public also. Replying to a question he said that as far as aid is concerned it would be premature to say anything about it, the details about
the aid are yet to be compiled and the modalities of aid would be finalised with our consultations. He said that talks on Pak-US Strategic Dialogues are underway and gradually they would progress. Basit said that US cooperated with Pakistan in different fields and is still cooperating in reconstruction and rehabilitation of flood affectees. Abdul Basit said that Pak-US relationship is strong and US cooperation is in interest of the country. He said that they wanted to develop extensive and broad based ties with US in all fields of life. Stronger ties with US would also be good for durable peace in the region. -Agencies
Islamabad denying more CIA presence into its territory, Wall Street Journal reports
US pushes for wider CIA role in Pak WASHINGTON: The US is pushing to expand the presence of its Central Intelligence Agency (CIA) role in Pakistan in order to help Islamabad target the safe havens of al Qaeda and other militants more aggressively; The Wall Street Journal said quoting senior government officials. The US has asked Pakistan to allow additional CIA officers
Pak-UK talks begin tomorrow ISLAMABAD: Interior minister level talks between Pakistan and UK on security matters will begin from Monday. British delegation led by UK Home Secretary Theresa May will be arriving here Sunday to participate in the meeting. Diplomatic sources told UK home secretary will hold talks with her Pakistani counter part Rehman Malik on a range of issues including terrorism, drug trafficking, legal matters, accord on exchange of criminals and security matters. Certain crucial decisions are likely to be taken during these talks for restarting strategic dialogue in anti terrorism and security related fields. See # 4 Page 7
and special military trainers to enter the country as part of efforts to intensify pressure on militants. The requests have so far been rebuffed by Islamabad. The United States has warned Pakistan is trying to expand a secret CIA operation designed to eliminate radical militants' havens located in Pakistan near the Afghan border, The Wall Street Journal
reported. Citing unnamed senior officials, the newspaper said that in recent weeks the administration of President Barack Obama had asked Pakistan to allow additional Central Intelligence Agency officers and special operations military trainers to enter the country to intensify pressure on militants. The requests have so far been
rebuffed by Islamabad, which remains extremely reluctant to allow a larger US ground presence in Pakistan, the report said. The number of CIA personnel in Pakistan has grown substantially in recent years, The Journal said. But the exact number is highly classified. The push for more forces reflects, in part, the increased
Pakistan fully aware of threats: CJCSC
Terrorists on their last legs, says Wyne ABBOTTABAD: Chairman Joint Chiefs of Staff Committee General Shamim Wyne Saturday said backbone of the terrorists' network had been broken and they would soon be eradicated, television reports said. General Wyne said the government was fully aware of internal and external threats and it was fighting the war on terror as per the resources available. He praised the army's sacrifices in the war, adding that the country's sovereignty would not be compromised. Addressing the annual passing out parade of 122 PMA Long Course at Pakistan Military Academy Kakul on Saturday Gen Shamim Wyne said government is fully aware of the internal
and external threats that threaten Pakistan and is sincere in countering these threats and is providing latest weapons to the armed forces according to the resources we have. He said we are fighting war on terror with limited resources and the Pakistan Armed forces have made enormous sacrifices in fight against terror. He said that the defense of the country is in strong hands. Pakistan army is fighting a bigger enemy but the history if Muslims is proof of the fact that battles are not won with numerical superiority but the aim and objectives take precedent over numerical superiority. See # 3 Page 7
Gas tariff hike
SC admits petitions against NAB head appointment
Ogra to heed SNGPL plea
Judiciary giving just verdicts: CJ
ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has decided to conduct hearing on November 11 of the plea made by Sui Northern Gas Company (SNGPL) seeking hike in the gas tariff by 15 per cent. According to media reports and SNGPL sources, Ogra has been asked to enhance the tariff of gas by 15 per cent due to ever increasing SNGPL expenses. Ogra while admitting the plea has decided to hold open hearing on November 11. Opinion of all the stakeholders affiliated with gas industry will be solicited during the hearing and then the See # 5 Page 7
LAHORE: Chief Justice Iftikhar Muhammad Chaudhry has said the independent judiciary is providing justice to the people and giving judicious decisions. The Chief Justice was speaking after inauguration of Iftikhar Hall in the library of Supreme Court Lahore Registry on Saturday. He said the Bar room has been a sacred institution which provides training and lessons of ethics to the budding lawyers. The lawyers learn the lessons of rule of the law from here, the Chief Justice of Pakistan said. The CJP said that the bar and the
bench are compulsory for each other. Meanwhile, Supreme Court admitted the petitions filed against the appointment of Justice (Retd) Deedar Hussain Shah as Chairman National Accountability Bureau (NAB) for hearing. Petitions against the appointment were filed by Leader of the Opposition Chaudhry Nisar Ali Khan and Advocate Shahid Orakzai. The petitioners had challenged the appointment and requested the apex court to declare it illegal. The Supreme Court will hear the petitions on Monday. -Agencies
need for intelligence to support the CIA drone program that has killed hundreds of militants with missile strikes. The additional officers could help Pakistani forces reach targets drones can't. A senior Pakistani official said relations with the CIA remain strong but Islamabad continues to oppose a large increase in the number of
American personnel on the ground. The Obama administration has been ramping up pressure on Islamabad in recent weeks to attack militants after months of publicly praising Pakistani efforts. The CIA has intensified drone strikes in Pakistan, and the military in Afghanistan has carried See # 2 Page 7
2
Sunday, October 24, 2010
Quaid’s vision to make Pak flourish: Senator
KCCI President meets Shehla Raza
Traders urge govt to address Karachi situation KARACHI: Acting President, Karachi Chamber of Commerce and Industry (KCCI), Talat Mahmood on Saturday urged the government that law and order situation should be taken on priority basis because the business community has to suffer loss of four to five billion rupees per day due to strikes. While having discussion with Syeda Shehla Raza, Deputy Speaker, Sindh Assembly, he said that Karachi which contributes 67per cent in revenue and 25 to 35 per cent of GDP, the business community suffers loss of Rs 4 to 5 billion per day due to strikes. Vice President of KCCI, Junaid Makda said that the business and industrial community should be given a role play among 31 standing committees. Business community should be recognized as the fourth pillar and needs a valid representation in legislations passed, affecting the business community. He said that the economic wheel was run by the businessmen that help create job opportunities and contributes enormously to Government exchequer. Deputy Speaker Sindh Assembly Syeda Shehla Raza assured the KCCI
leadership to lobby for legislation guaranteeing maximum participation of the business community in the Provincial Assembly's business relating to economic issues. He said that the government believed in public-private partnership. "We see private sector as the major player in revenue generation and development of the country," she said. Deputy Speaker assured that Government would utilise all available options to maintain peace and security in the city at the earliest possible and would not hesitate to take any action against the antisocial elements wanted to destroy peace and economy of Karachi. On proposed flood tax, she said it would be discussed in detail in the Cabinet and the business community being an important stakeholder would be taken into confidence before the final decision. Anjum Nisar, Vice Chairman BMG and Former President KCCI, KCCI Managing Committee Members and other senior business leaders spoke of various problems/irritants facing trade and industry leading decline in production and exports. -NNI
IGATEX expo kicks off LAHORE: The 6th International Garment Textile Machinery and Accessories (IGATEX) exhibition 2010 kicked off at Expo Centre Lahore. Advisor to Prime Minister on Textile, Dr Mirza Ikhtiar Baig inaugurated the threeday exhibition here. The event will be attended by 450 foreign firms from 33 countries, including 20 from neighboring India. Baig said Pakistan has embarked on wide-ranging initiatives for the growth in textile sector. The new Textile Policy 2009-2014 announced by the government of Pakistan sets ambitious target of $25 billion till 2014 and allows various incentives including concessional financing (LTF) to encourage capital investment in value added textile industry. Considering the importance of textile industry, he said, the government has identified textile as a key priority area and is making all possible efforts to encourage private sector investment in value addition and expansion under BMR to spur production capacity. He said government has withdrawn duties
and taxes, making it true zero rating, on imports of textile plants and machinery to encourage investors. According to him, it should be an encouraging sign for those exhibitors exporting textile machinery to Pakistan. Further, he said, the EU offer of three years trade concessions to 75 Pakistani products would also attract fresh investment to the textile industry, which again justifies the holding of this massive scale exhibition. He said Pakistan was also approaching Canada, Australia, New Zealand, Turkey and Russia for trade concessions and market access similar to the
EU. He also mentioned about the Reconstruction Opportunity Zones (ROZs) initiative from the US government. While expressing good luck to all foreign exhibitors/delegates, he expressed confidence that textile sector would keep its dominance role in Pakistan economy. Central Chairman All Pakistan Textile Mills Association (APTMA), Gohar Ejaz said in his address that socio political situation has hampered investment in textile over the last few years, showing revival in recent past. He said Pakistan's textile sector was growing at a rate of 20 percent per annum.-PPI
Automated terminal at PQ starts from 26 Staff Repoorter KARACHI: Fauji Akbar Portia Marine Terminals Limited (FAP) announced that the Prime Minister of Pakistan, Syed Yousuf Raza Gilani will inaugurate Pakistan's first state of the art fully automated dry bulk cargo handling & storage terminal at Port Qasim on October 26. Appreciating the efforts of Fauji Foundation, Akbar Group and Portia Management Service, Chairman Port Qasim Authority said, "This world class addition to the existing facilities of Port Qasim Authority (PQA) will help Pakistan achieve its goals of becoming an integral hub of international trade". Speaking at the press conference, Ahmed Rana, CEO FAP "The FAP terminal has been completed in a record dura-
tion of 24 months which included the reclamation of 22 acres of sea water, the construction of a 300 metre jetty, installation of automated unloading and conveying systems, erection of silos and bagging stations, all of which involved an investment of USD 135 million." Fauji Akbar Portia Marine Terminals Limited (FAP) has established the first of its kind Grain & Fertiliser Terminal at Port Qasim (PQA). FAP has the right to Build, Operate and Transfer at Port Qasim (PQA), a state of the art, fully automated Grain and Fertilizer Terminal capable of handling 4.1 million metric tonnes of dry bulk cargo per annum. The Terminal has been built on a 9 hectare facility and will cater to Panamax size vessels (up to 80,000 DWT).
KARACHI: Chief Executive Officer PPL Khalid Rahman receiving the Best Corporate Report Award from Dean, Institute of Business Administration Dr Ishrat Hussain.-Staff Photo
HYDERABAD: Sindh Chief Minister & President Peoples Party Sindh Syed Qaim ALi Shah presiding over PPP Sindh Council meeting at the residence of Syed Ali Nawaz Shah Rizvi. -APP
71pc import duty worries SITE Staff Reporter KARACHI: Chairman SITE Association of Industry, Asad Nisar said on Saturday expressed concerns on imposition of 71per cent duty on import of basic raw material of Hydrogen per oxide. In a statement, Asad Nisar said that National Tariff Commission has imposed 71per cent duty on Hydrogen per oxide resultantly the commercial importers have stopped opening of new LC in order to create artificial shortage of hydrogen per oxide and have increased the price of the same up to 35per cent. Expressing apprehension, he said that the step would increase the production cost of textile goods approximately 20 to25 per cent. He said that two industries in the country were producing 60,000 ton hydrogen per oxide due to which the local manufactures have to depend on the import of it. According to reliable sources it is reported that NTC has imposed 25per cent anti dumping duty on import of hydrogen per oxide from Korea and Taiwan and 71per cent from China. Asad Nisar said that the NTC has done this on behest of two local companies without taking the stakeholders into confidence which is one-sided decision and is a severe joke with the industrial and registered importers of the hydrogen per oxide. He said that against this one sided decision of NTC the industrial importers have moved to court on individual basis.
PPL’s corporate report bags top award Staff Reporter KARACHI: Pakistan Petroleum Limited's (PPL) Annual Report 2009 was chosen as the best in all sectors at the Best Corporate Report Awards (BCRA), said a statement issued here. The company also stood first among five shortlisted organisations in the fuel and energy sector for the second year in a row. The results were announced at an event organised jointly by the Institute of Chartered Accountants of Pakistan and Institute of Cost and Management Accountants of Pakistan that drew a large number of representatives from the finance and corporate sectors as well as the media. Managing Director and Chief Executive Officer Khalid Rahman, accompanied by PPL's senior management, received the award from Dean, Institute of Business Administration and former governor State Bank of Pakistan Dr Ishrat Hussain, who was the chief guest on the occasion.
ICCI expresses voice over waning foreign investment ISLAMABAD: Pakistan has tremendous potential for investment but our country has still not been able to fetch desired foreign investment, stated Mahfooz Elahi, President of Islamabad Chamber of Commerce & Industry while addressing a meeting of foreign investment committee. Business community expressed concern on the declining influx of foreign investment and said that government should take proactive steps to improve the situation. He said that Pakistan has huge potential of investment in many sectors, which requires concrete planning for execution. Mahfooz Elahi said that that security is the key to development, thus local and foreign investors must be provided a peaceful environment to incline them for investments. He said that law and order situation has improved but a
comprehensive action plan is required to be developed to overcome this critical issue. He said that privatization process must be put on fast track and joint venture investments should be encouraged to turn the loss making organizations to profitable one. A number of state owned organizations are not delivering the desired results and eating up a huge amount of money, which must the privatized on urgent basis, he added. President suggested that Board of investment in collaboration with the chambers of commerce & industry across Pakistan must organize seminars on investment plans to encourage investments in small and medium size projects. He said that our foreign missions abroad must also hold seminars to inform potential foreign investors about the opportunities in various sectors, especially
in power, agriculture, infrastructure development, education and health sectors. He said that it is encouraging that government is expecting 5 billion dollars of foreign investment in next three years as per information investors from US, Gulf region, Japan and Korea have shown interest to invest in Thar coal and thermal sector for power generation. The Chilean company Rikodok is planning to invest in cooper sector, thus government should provide all sorts of facilitation through consensus with the stakeholder organisations to fetch investment in this sector, Mahfooz Elahi stated. Mahfooz Elahi said that though 700 foreign companies are operating in Pakistan and but our country badly needs more foreign investments for greater economic activity and generation of employment.-Online
KARCHI: Managing Director PIA Capt Ijaz Haroon keenly viewing the photo exhibition of Shaheed Benazir Bhutto by Agha Ferooz. -APP
Tanners display products at int’l forum M Imran Sharif KARACHI: Chairman Pakistan Tanners Association (PTA) Khurshid Alam informed that a large number of PTA's members took part this year in Lineapelle Fair held in Italy. Lineapelle Fair was held from 12-14th October, at Bologna City, Italy in collaboration with the Government of Pakistan, Trade Development Authority of Pakistan looking for further business expansion and ties with European union with the supreme motive to earn the precious foreign exchange for the national exchequer. The Chairman, PTA, Khurshid Alam also informed that enormous business conclusion was made by the PTA's members during the Fair worth $ 10 Million (approx) while active negotiations are also in the pipeline to
be materialised shortly to the tune of $ 2 - 4 Million (approx) which would be helpful for the leather industry of Pakistan to arrest the declining trend. Khurshid Alam, Chairman, PTA appreciated the announcement of the Trade Commissioner of European Union for the execution of FTA between Pakistan & EU countries for 75 Trade Items including 6 Items of Leather Sector Industry for the zero rated duty in EU Countries, as recently reported in Pakistan daily newspapers, which is certainly a positive sign for the Leather Industry of Pakistan to be able to get benefits of competitiveness in the European market. He also praised the gesture of assistance/cooperation extended by the Government of Pakistan, TDAP for their financial assistance to PTA's members.
Technology must for progress: minister TANDOJAM: Federal Minister for Science and Technology Muhammad Azam Khan Sawati said that our country could not prosper and progress without development in Science and Technology. This he stated while talking to media representatives at Drainage and Reclamation Institute of Pakistan (DRIP) Campus Tandojam here on Saturday. He urged the government to change its priorities and release special funds to the Ministry of Science and Technology. He emphasized on reduction in electricity tariff as unabated electricity tariff was casting bad impacts on agriculture and other sectors. The federal minister said feudal lords have ruined the education system in Sindh and made teachers virtually their personal servants.-APP
KARACHI: Senator Abdul Haseeb Khan has said that the only option remains for Pakistan to flourish is to fulfill the vision of Quaid-e-Azam Mohammad Ali Jinnah in letters and spirit. While speaking on the 4th launching ceremony of his authored book "Pakistan Kay Hakim" (Rulers of Pakistan), he said that without naming any ruler he has narrated all the good and bad activities of rulers which occurred in last 60 years of Pakistan. He said that unfortunately the vision of Quaid-eAzam was put in back burner and only personal agendas for loot and plunders was unleashed which has shaken the very existence and motivation of the objectives for the creation of Pakistan. Senator Abdul Haseeb Khan said that transgression of the rulers has divided the country into two but they have no tears in their eyes. He said that Pakistan was created for Muslim to have their homeland and live with peace and tranquility but the acts of our rulers have created animosity among masses. Leader of business community and former President FPCCI, S M Munir has emphasized the need that the government must keep zero rated sectors far from Reformed General Sales Tax (RGST)
SUNDAY Time 8:00
Programmes Pakista this week(Rpt) 8:30 Music Scene 9:00 Teesri Nazar(Rpt) 10:00 Smithsonian Documentry 11:00 Uff Tv(Rpt) 11:30 Dilkash Pakistan (Rpt) 12:00 Kamyab (Rpt) 13:00 AM Agenda 360 (Rpt) 14:00 Karobari Duniya(Rpt) 15:00 Teesri Nazar(Rpt) 16:00 Pakistan This Week (Rpt) 16:30 Tijarti Dunya (Rpt) 17:00 Kamyab (Rpt) 18:00 Dilkash Pakistan (Rpt) 18:30 Uff Tv(Rpt) 19:00 Sara Jahan 19:30 Red Carpet 20:00 Filmi Samaa 20:30 Munafa Khor Hoshiyar 21:00 Badalta pakistan 22:00 Agenda 360 23:00 Amnay Samany 0:00 Filmi Samaa(Rpt)
TV PROGRAMMES SUNDAY Time Programmes 7:00 News 8:00 News 9:05 Manzil (Rpt) 10:05 The Reema Show (Rpt) 12:00 News 13:10 Faisla Aap Ka (Rpt) 14:10 The Anchor (Rpt) 15:00 News 16:00 News 17:00 News 18:00 News 19:05 I Samaa 19:30 Mutasareen 20:05 The Reema Show 21:00 News 22:03 Faisla Aap Ka 23:05 Tafteesh
Analysis & Feature
Sunday, October 24, 2010
3
UK MILITARY REVIEW A GAMBLE, MORE CUTS POSSIBLE l Britain risks capability gaps after military review
A
l Review not weakening NATO, but military may face more cuts
major review of British defence strategy has shrunk military capacity and left the armed forces vulnerable to further cuts, with much hinging on how long British troops remain in Afghanistan. At eight per cent, the defence budget cuts are far below an average of 19 per cent forced on other departments to reduce a record budget deficit, allaying US and NATO fears and keeping Britain as one of the strongest military powers in Europe. Tuesday's Strategic Defence and Security Review, the first since 1998, highlighted cyber attacks and terrorism as the greatest threats to British security, justifying cuts to hardware used in conventional warfare. But a crisis could leave Britain exposed if some of the capabilities it has scaled back are needed again, not least the ability to fly jets from aircraft carriers, a decisive factor in Britain's 1982 war with Argentina over the Falkland Islands. Contractual obligations meant the government had to retain two previously ordered carriers, but Britain will not have combat jets to fly from them for some 10 years. "It's clear that the government is prepared to take significant risk in some areas ... It's whether in the risks they take, they get caught," said Andrew Dorman, a senior lecturer at King's College LONDON's defence department.
Britain is also hoping it will not have to project significant military power abroad again in the near future, given that it has scaled back its fleet of warships and planes and will commit fewer troops to foreign military interventions. Britain's role in Afghanistan, where it has 9,500 troops and from which it plans to withdraw by 2015, weighed heavily on the review, and limited cuts to the army and some equipment. "In important respects, this is a holding review while we're in Afghanistan," said Malcolm Chalmers, a professor at the Royal United Services Institute thinktank. "If the UK was able to make a massive drawdown of its forces by 2013, there would be pressure to have a significant review of commitments before 2015," he added. MORE CUTS? The review envisaged a reduction of about eight per cent in real terms to a defence budget of 36.9 billion pound ($58 billion), but it lacked detail on where the axe would fall. "I think you're going to see a whole series of announcements over the next 18 months which will involve some big decisions. If some of the efficiency savings aren't made, or they need further ones, I see big potential cuts to follow," Dorman said. The question of whether to renew Britain's Trident nuclear deterrent was post-
poned, and the prospect of scaling it back left dangling. A decision on how many Joint Strike Fighter and Eurofighter combat jets to buy was also put off, as was the number of armoured vehicles to be bought in a new programme. More may become clear when the government consults with industry to decide a new military industrial strategy by the end of the year. The strategy will give a clearer picture of what the defence ministry will buy in future, and what it will scrap. POLITICS AND POSITION Contrary to earlier fears, the review has not seen Britain slip significantly from its place as one of the most capable military powers in Europe, roughly on a par with France. "Based on what we have seen the UK will still be highly capable across the spectrum and remains committed to an active international engagement," said NATO spokesman James Appathurai. Politically, the right-leaning Conservative Party, which flaunts its pro-military credentials, has emerged looking like a champion of the armed forces, going softer on the defence budget than that of other government departments. The dovish Liberal Democrats, the Conservatives' junior partner in government, will be pleased at the decision to
delay the renewal of Trident, because it wants an alternative system. But the party's failure to keep its promise to prevent a rise in university tuition fees contrasts with the
Conservatives' success in protecting its military backers. "The Conservatives are making the big calls in the coalition, pushing their agenda, minimising defence cuts
while fundamentally changing the system of university finance," said Jonathan Tonge, head of politics at Liverpool University. "What looked at least ini-
tially as a decent (coalition) deal for the Liberal Democrats is already beginning to unravel as the policy agenda of the Conservatives is played out." -Reuters
EU makes progress on reforms but hurdles remain E
urope is gradually putting in place the building blocks of a stronger defence against future economic crises, but its battle with huge sovereign debts and bulging deficits is far from over. Any deal on Monday to change the European Union's budget rules to sanction member states which breach debt and deficit limits should bolster attempts to prevent a Greek-style debt crisis elsewhere in the euro zone, even though the plan was watered down at the last moment. After a deal reached by FRANCE and Germany, EU leaders are also turning their attention to amending the bloc's treaties so that a permanent system can be created for dealing with an economic meltdown if the new budget rules fail. "Overall I believe we are on track, we have been learning lessons from the crisis," European Commission
President Jose Manuel Barroso, who heads the EU executive, said this week. "If and when realised in full, the result of all this work will be what we need: a system that provides incentives for member states to conduct sound economic and fiscal policies and a system that provides incentives for investors to observe responsible lending practices." The moves build on the adhoc solutions that were agreed in May to save the euro from collapse -- an 80 billion-euro ($112 billion) bilateral loan package for Greece and a 500billion euro safety net for all euro zone states backed by the IMF. National governments have bitten the bullet by announcing coordinated austerity plans that have calmed financial markets' worst fears of a new government debt crisis to follow the one in Greece. Other steps this week to protect Europe against an eco-
nomic meltdown also included a deal to regulate private equity and hedge funds and the start of moves to increase a watchdog's powers to intervene in failing banks. A LONG WAY TO GO Although these moves go some of the way to dealing with the potential threats facing Europe, and tackle some of the root causes of the economic downturn in 2008, many of the measures have been criticised, watered down or face obstacles. The 27-country EU, and the 16 that use the euro, still have plenty to do to regain the full confidence of investors. "The weakness of the euro we experienced in the spring ... has not been overcome yet," German Chancellor Angela Merkel said on Wednesday. "The euro is protected at the moment by rescue mechanisms." European Central Bank President Jean-Claude Trichet also dampened any triumphal-
ism over the EU finance ministers' agreement on Monday on budget-rule reform by saying he did not fully support the new rules. Under a deal reached in the French town of Deauville, French President Nicolas Sarkozy backed German calls to amend EU treaties to strip persistent deficit sinners of voting rights, and Merkel accepted French demands to water down sanctions on the sinners. This raised doubts about whether the new version of the EU's Stability and Growth Pact will be any more effective in imposing fiscal discipline on governments or less prone to political fudging than two previous attempts. Some member states and EU lawmakers saw the deal as a stitch-up by Merkel and Sarkozy, reinforcing the impression that Europe remains weak, divided and unable to speak with a coherent voice.
But others defend the agreement as the best possible under difficult circumstances, because differences in the French and German visions of the euro zone had threatened to stand in the way of any deal at all being reached. "We have got an agreement on tighter budget rules and that is a good thing that cannot be ignored. However it came about is not really the issue, it's the substance," said one European minister, speaking on condition of anonymity. PROTESTS IN FRANCE ARE LITMUS TEST Key to the success of European efforts to put the economy on a sounder footing is the ability of national governments to push through austerity measures, such as those announced by Britain on Wednesday. Economic growth has revived in the EU, home to 500 million people, and the bloc's economy is officially forecast to grow 1.8 per cent this year
after a 4.2 per cent contraction in 2009. But EU unemployment is running at 9.6 per cent of the workforce, and at around twice that rate in Spain, Latvia and Estonia. Unions say austerity will curb job creation. Governments that are new, such as those in Britain and Greece, appear to have more support from voters for tough reforms than longer-serving administrations in countries such as FRANCE, Spain, Portugal and Ireland. Protests against an unpopular pension reform planned by the French government have made FRANCE the front line in the battle over austerity. If Sarkozy backs down or waters down the reform, it will embolden unions and protesters elsewhere. If he stands firm, it could encourage other governments to tough it out. Other governments are also under pressure. Spanish Prime minister Jose Luis Rodriguez Zapatero, facing a large public deficit and a stagnant econo-
my, overhauled his cabinet on Wednesday to try to strengthen its appeal. Along with Greece, Portugal and Ireland, Spain is seen as a potentially weak link in the euro zone. But Portugal's government has raised hopes that it will win support for its 2011 budget by agreeing this week to open talks on the plan with the main opposition party, which is demanding lower tax increases and more spending cuts. The pain of the economic downturn has been spread unevenly and the impact of trends such as ageing societies, poor demographics, sluggish growth and rigid labour markets lead some commentators to see Europe as in decline. Before it can declare itself immune to future crises, the EU also needs to address imbalances under which some economies, such as Germany's, power on and countries such as Greece, Ireland, Spain and Portugal battle huge problems. -Reuters
South Africa pay deal may force painful cuts S
outh Africa's plans to rebuild its faltering schools, train its millions of unemployed for jobs and provide basic care for its sick may have to wait while public sector workers collect on a new pay deal. A wage agreement that will give about 1.3 million workers rises of double inflation and costly stipends for their housing threatens investments to foster long-term growth and may mean budget cuts, tax hikes or more government borrowing from abroad. Public Services Minister Richard Baloyi has said the government cannot afford this week's deal to end a strike
that ran through most of August, and will be forced to consider making cuts in other programmes to pay for it. "We have to take painful decisions," he said. The state is South Africa's largest employer and wages already make up the biggest chunk of state spending. Many workers belong to unions close to the ruling African National Congress, which has often been criticised for striking short-team deals that please its supporters at the expense of the country's long-term economic prospects. The Treasury's mediumterm budget statement next
week is likely to reveal how much spending priorities have changed due to the deal to raise salaries for state workers by 7.5 per cent and provide 800 rand a month for housing. Finance Minister Pravin Gordhan has warned the wage deal will weigh on the budget of Africa's largest economy and stoke inflationary pressures unless it is matched with increased productivity. "The longer-term impact of the higher wage settlement ... will be much more serious as interest costs rise in response to higher government borrowing," Gordhan said this week. Many unions for state work-
ers fall under the umbrella of the labour federation COSATU, which is in a governing alliance with the ruling ANC, and have used their political ties to squash any meaningful measures to make them work more efficiently. With so many state workers, the money quickly adds up. The total bill to help government employees with mortgages and rents is twice what the country pays for protecting the environment, about the same as what it spends for its courts and about two-thirds of what it spends to build houses for the poor. The total wage deal to end
the strike will add between 1 and 2 per cent more to the budget. "Our salary bill is really crowding out our other priorities," Basic Education Minister Angie Motshekga told reporters at a major ANC meeting last month. CUSHY JOBS In 2006/07, about 35 per cent of tax revenue went towards pay and benefits for state employees and that rose to about 47 per cent in 2009/10. Between 2001-2008, the government hired about 300,000 new state workers, the National Treasury said. Their wages and benefits will
rise the longer they are in their jobs, adding more pressure to the budget. Before the wage deal, midrange public servants made about 40 per cent more in wages and benefits than the average South African worker, who earns 6,383 rand a month. South Africa has not gotten much bang for its buck when it comes to its state workers, with the country's poor protesting about the government's inability to provide them with electricity, running water, housing and functioning schools. President Jacob Zuma has pleaded with teachers to arrive at school on time,
stay until the final bell and actually do some teaching in the classroom. But cutting back or making staff more accountable for job performance could alienate a key support base for Zuma's ANC, analysts said. "Government is sorely tempted to put in place a proper review process and a grading of all public sector workers," said Nic Borain, an independent political analyst. "But the unions have traditionally won the situation where advancement is automatic. It is all about how long you've been there and very little to do with your performance." -Reuters
4 Sunday, October 24, 2010
The Financial Daily International
Afghan war isn’t even close to over
Vol 4, Issue 79
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA
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Khurram Shehzad, CFA
Akhtar M. Zaidi, FCA
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CIA-ISI coalition or confrontation According to a report published in The Wall Street Journal, the US administration seeks a bigger role for the Central Intelligence Agency (CIA) in Pakistan to eliminate safe havens of radical militants said to be located within Pakistan near the Afghan border. The US administration wants Pakistan to allow CIA officers and special operations military trainers to enter the country to intensify pressure on militants. However, the requests have so far been rebuffed by Islamabad, which remains extremely reluctant to allow a larger US ground presence in Pakistan, the report admits. According to the paper, there are currently about 900 US military personnel in Pakistan, out of which 600 are providing flood relief while 150 are assigned to the training mission. The number of CIA personnel in Pakistan has grown substantially in recent years but the exact number is highly classified. It is not a secret that Pakistan's relations with the CIA remains strong but Islamabad continues to oppose any significant increase in the number of American personnel on the ground. Pakistan believes that the US should abstain from undertaking direct operations within the territorial limits of Pakistan. However, some of the US critics are critical of the ISI role, as they believe it has a soft corner for Taliban, and therefore, military operation in the northern areas has not been successful. Pakistan government has been claiming that it has arrested and killed many of the top leaders of al Qaeda but a clear distinction has to be made between al Qaeda and Taliban. Pakistan also says that peace in Afghanistan may not last longer unless all the groups arrive at some sort of consensus. The United States made a new offer to strengthen Pakistan militarily by offering a $2 billion arms package. The report terms this five-year assistance plan in response to Pakistan's influential military, which assists the US military in Afghanistan and was uneasy about the US shift to civilian assistance. However, Pakistan seems to have a valid point. If the US government is serious in arriving at some sort of reconciliation with Taliban, then why there is pressure on Pakistan 'to do more to eliminate Taliban'. We strongly believe that lasting peace should be restored in Afghanistan at the earliest and its is the sole prerogative of Afghans to elect their representatives to form the government once Nato forces leave Afghanistan. Let the sole surviving super power understand that hearts can't be won with weapons. Nearly four decade of war in Afghanistan has completely changed the mindset of Afghans. It may take long before they decide to lay aside arms and start cultivating their lands.
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.
ANDREW EXUM
F
or the past two weeks, reputable US and British newspapers have been filled with articles touting progress in negotiations between the government in Kabul and Afghanistan's major insurgent groups. On October 20th, the New York Times reported that Afghan reconciliation talks "involve extensive, face-to-face discussions with Taliban commanders from the highest levels of the group's leadership." These articles have been accompanied by optimistic reports that the United States and its Nato allies have decimated the Taliban's leadership in southern Afghanistan. As someone who has fought in Afghanistan on two occasions and served briefly as a civilian advisor to the Nato command group there in 2009, I hope the reports are true. The idea that an end to the fighting in Afghanistan and the involvement of the 100,000 US troops in the country might be just around the corner is seductive. However, there is good reason to be skeptical of the reporting coming out of Kabul and Washington. Civil wars and insurgencies such as the one in Afghanistan usually end through some kind of negotiated settlement between the antagonists. The United States' war-weary public is clearly eager to bring the majority of US troops home, and the Nato command in Afghanistan has prioritised reconciliation just as much as fighting the Taliban and training the Afghan national security forces. Much time has been spent determining both the red lines of Nato and its Afghan partners and those areas in which they could compromise with the insurgent groups. But Afghans are perfectly comfortable talking while still fighting. So too, at least in practice, are the United States and its allies: In insurgencies from Vietnam to Northern Ireland, we have negotiated with insurgents while combat operations were ongoing. In the American public's mind, however, wars take place sequentially: First, you fight; second, you negotiate a settlement. The word "negotiations" conjures up hopes for an end to the conflict in the minds of Americans and other Westerners -- when all that really might be occurring is another round of jockeying for position between Afghanistan's warring politi-
cal forces. US President Barack Obama, who carried out an otherwise responsible review of US strategy in Afghanistan in the fall of 2009, blundered when he publicly announced that the United States would begin a withdrawal from Afghanistan in July 2011. Within the ranks of Afghanistan's insurgent groups and even among our allies and
Afghanistan are no more unitary an actor than the Afghan government or the NATO coalition, further complicating negotiations. All that, to make matters worse, assumes the insurgent groups are independent actors. The reality, though, is that negotiations between the insurgent groups and the government in Kabul will only go so far as the Pakistani . The idea that an end to the security services allow. fighting in Afghanistan and Some Western analysts took in the involvement of the 100,000 US heart Pakistan's in troops in the country might be just decision February to arrest Taliban around the corner is seductive. leader Mullah Abdul Ghani However, there is good reason to Baradar. At the time, howbe skeptical of the reporting com- ever, the arrest of Mullah who ing out of Kabul and Washington. Baradar, was in negotiations with the civilians in the country, this date the government in Kabul, was interwas interpreted to mean that a total preted by the Taliban rank and file to withdrawal of US and allied forces be a stark warning to those who was imminent. No insurgent group, to would negotiate without the permisparaphrase defense analyst Stephen sion of the Pakistani government, Biddle, was about to accept a loaf of under whose patronage and protecbread when the bakery was on offer. tion the Taliban has operated east of Why would the Taliban and other the Durand Line since 2005. Today it insurgent groups negotiate when the is widely accepted that this was United States was on its way out indeed the case and that Pakistan deliberately thwarted negotiations already? The problem of Afghanistan's var- between the Quetta Shura Taliban and ied insurgent groups also complicates the government in Kabul to serve its reconciliation talks. Of the three prin- own parochial interests. Since that cipal insurgent groups, only event, there is no sign that Pakistan's Gulbuddin Hekmatyar's Hezb-i- powerful military has taken a softer Islami Gulbuddin (HIG) might be line on negotiations between the considered ripe for any kind of recon- Taliban and the government in Kabul. ciliation with the government in Finally, if one surveys the history of Kabul. But the HIG is arguably the civil wars and insurgencies, the evileast significant of the major insur- dence for negotiations leading to a gent groups, and even then, more secure environment without Gulbuddin himself would not likely robust security operations first setting be allowed to play a role in an Afghan the conditions for those negotiations government. is weak. The way the US military Of the other two groups, the established control over the populaHaqqani network, under the leader- tion in Baghdad in 2007, by contrast, ship of Sirajuddin Siraj Haqqani, contributed to an environment that maintains strong ties to al Qaeda and not only led formerly malign Sunni is considered more or less irreconcil- insurgents to join local security able, while the Quetta Shura Taliban forces, but also provided time and is thought to be reconcilable only if space for a more peaceful political Mullah Mohammed Omar himself process to move forward. approves of the reconciliation Although the reporting of how the process. The insurgents in United States and its allies have
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"routed" the Taliban in southern Afghanistan has been very thinly sourced, it is clear the US military has been attempting, in Afghanistan, to replicate the success it had in Iraq in 2007, destroying the mid-level operational leadership of the insurgent groups, which in turn collapsed the networks and rendered them ineffective. However, very little of what is taking place in southern Afghanistan can be known with any certainty. Journalists have been denied access to ongoing military operations and, though it is believed that the US military and its allies have indeed been degrading the Taliban and its ability to reconstitute its organisation once the fighting season resumes in the spring, questions remain: Did the US military wait until too late in the fighting season to inflict serious damage on the Taliban before its fighters withdrew for the winter? Is the current drop in insurgent attacks any different from the normal seasonal drop in attacks that precedes the onset of winter? Is the degradation of the Taliban's organisation forcing it to the negotiation table? And has the Taliban realised that the United States is not, in fact, leaving in July 2011? It might be quite some time before we know the answers to these questions. For now, though, we can be sure of one thing: The two hopeful front-page articles in the New York Times recently relied heavily, almost exclusively, on sources within the International Security Assistance Force command in Kabul. Both articles suggest that the ability of Gen. David Petraeus, the top Nato commander in Afghanistan, to deliver the message he wants via the US media has followed him intact from Iraq. It is still unclear whether the United States and its allies have managed to capture momentum in Afghanistan. In Washington, however, this narrative already appears to have won the day. (Andrew Exum led a light infantry platoon in Afghanistan in 2002 and returned leading a platoon of Army Rangers in 2004. He served as an advisor to Gen. Stanley McChrystal's Initial Assessment Team in 2009 and is a fellow at the Center for a New American Security.)
Eurozone's very own “emerging markets” W
ith a sudden and insatiable global investment demand for all things emerging markets fast becoming a crowded trade, many investors are being tempted to seek out the next best thing -high-yielding eurozone debt. Fear of more money printing and passive devaluations in the United States, Japan and possibly Britain have in recent weeks stampeded the investment herd toward the higher yields and rising currencies of developing economies. But as the search for yield and rising currency rates becomes indiscriminate, there's been a growing case for hoovering up the juicy returns on offer in the eurozone's debt-battered periphery of Greece, Ireland, Portual and Spain. SAFETY NETS Just look at 10-year yield premia over both "core" U.S. and German debt -- more than 600 basis points for Greece, almost 400 basis points for Ireland, more than 300 basis points for Portugal and more than 150 basis points for Spain. Big risks, no doubt, the fallout from fiscal austerity and the lingering threat of debt default chief among them. But there remains a political commitment not to restructure member states' debts, and the Spring crisis saw the introduction of a 440 billion euro safety net -- the European Financial Stability Facility -- to back that pledge at least until 2013. And that is on top of Greece's emergency financing package from the International Monetary Fund and European Union. Few emerging markets have that
sort of support, and yet equivalent benchmark emerging market dollar bonds, illustrated by JPMorgan's EMBI+ index, have equivalent yield premia of just 255 basis points. Local currency emerging sovereign bond benchmarks return just over 600 basis points. Currency direction is always a wild card, but many investors have
called QE2 -- its second wave of quantitative easing via bond and asset buying. Add that currency gain to the high yields now on offer for holding the bonds of debt-laden governments on the periphery of the 12-nation euro bloc and you get some interesting numbers. Since Fed chief Ben Bernanke's
Fear of more money printing and passive devaluations in the United States, Japan and possibly Britain have in recent weeks stampeded the investment herd toward the higher yields and rising currencies of developing economies. scrambled for local currency debt in emerging markets to position for a protracted revaluation as the dollar is undermined by more quantitative easing. Yet with many emerging countries, such as China, operating dollar currency pegs, the free-floating euro has been among the biggest gainers. With the European Central Bank institutionally barred from joining the money-printing club for now, the euro has been caught in the crossfire of a battle to keep currency rates low. Europe's single currency, battered earlier this year by the existential euro government debt crisis, has accelerated more than 10 percent higher against the dollar since the Federal Reserve flagged the prospect of so-
speech at the Jackson Hole central banking forum on Aug. 27 stoked QE2 speculation, total returns on 10year Greek government debt in euro terms are up almost 20 percent. But if you were a dollar-based fund manager in Boston, for example, your currency-enhanced returns on the same debt would have topped 30 percent in that six-week period alone. DEEP POCKETS Strategists argue that many funds may still be prevented by risk managers from buying peripheral eurozone debt following the ructions of early 2010. But public and private funds with deep pockets or hedge funds with nimble market timing have more scope to take advantage of such outsize returns.
Largely for political and strategic reasons, China's Premier Wen Jiabao this month offered to buy Greek government bonds when Athens resumes issuance, adding that it wanted to boost shipping and trade ties with Athens. China has already spent around 420 million euros buying Spanish and Greek bonds this year, according to estimates from EU trade commissioner Karel De Gucht. Norway's sovereign wealth fund, the world's second largest, with assets over $470 billion, has reportedly bought Greek government bonds. Azerbaijan's SWF, 40 percent of whose assets are in eurozone fixed income, has also voiced support. Yet it's not just these big public-sector behemoths who have been buying. Dan Fuss, who as vice chairman of Loomis Sayles helps manage some $150 billion of assets, said last week the firm has been buying Irish government debt aggressively in recent weeks at auction and on the secondary market -- mainly for its attractive yield and "very decent" credit quality. "The worries about Ireland are valid, but the credit over time -- and I don't mean in the next 27 days or so - is actually very decent," Fuss said, adding the firm held about $1.5 billion of Irish paper and had been eyeing 2018 maturies. Much was made of the relegation of peripheral European debt to emerging market status in the white heat of the crisis earlier this year. In hindsight, that may well prove to have been a blessing in disguise.Reuters
5
Sunday, October 24, 2010
Dental surgery may raise heart attack risk
F
or people who have dental surgery, the risk of heart attack and stroke may grow during the weeks following the procedure, British research suggests. "This is the first sign of increased risk for heart attack or stroke after a dental procedure," co-author Dr Francesco D'Aiuto, a dentist and researcher at University College London Eastman Dental Institute, told Reuters Health. "This is not to say that this will happen with every dental procedure, but we are saying we need to look more into it." It's hard to know exactly what's going on, because the researchers didn't have access to information about the drugs patients were taking around the time of their surgery. If they cut down on certain medications, for instance, that alone could have upped their chances of suffering a heart attack or a stroke. Still, because these conditions affect more than one million people
in the U.S., the increased risk could be significant. According to the study, heart attack and stroke occurred more often in the first four weeks after the operation than any other time during or after the recovery period. The researchers tapped into Medicaid data provided by GlaxoSmithKline -- which makes drugs to treat heart disease and stroke -- on a group of U.S. Medicaid patients receiving dental work, including simple procedures like removing a tooth. D'Aiuto explained that heart attack and stroke are linked to bacterial infections and inflammation after other invasive treatments, likely because inflammation can damage the walls of arteries and contribute to the formation of plaques that clog arteries. The authors, writing in the Annals of Internal Medicine, said that this led them to wonder about the role of dental surgery as well.
They couldn't find a lot of suitable patients to test, however. The Medicaid claims database includes information for close to 10 million people, but there were only 1,150 people who had an invasive dental procedure and a heart attack or stroke in the 4-year period they focused on. In that population, 40 cases of heart attack or stroke occurred in the first four weeks after dental work -- one and a half times the baseline rate. Dr. Howard Weitz, a cardiologist at Thomas Jefferson University in Philadelphia and co-author of an editorial about the study, told Reuters Health that the study was not designed to determine if dental surgery causes heart problems, only to see if they are associated with each other. He also said previous research shows that errors in recording information in a database like the Medicaid one are fairly common.
Even when it's correct, Medicaid information does not include the use of aspirin and other over-thecounter medications that help to prevent heart disease. In some cases, doctors require patients to stop using aspirin in order to help prevent excessive bleeding during surgery. Weitz explained that cutting off aspirin could put some of these people at greater risk for heart attack or stroke later on. Right now, he said there is not enough evidence to suggest people should start delaying dental procedures, which could potentially create other complications. Instead, people should speak with their doctors about their heart condition and let dentists know if they are at risk for a heart attack or stroke. "This study could bring a lot of attention to dental procedures," said Weitz, "but I don't think people should look at this as a reason to be concerned.".-Reuters
Tasty Foods for Healthy Eye W
hen it comes to foods for the eyes, carrots are right on top of everyone's list. However, this rich source of vitamin A is not the only ingredient of a healthy eye diet Vitamin A prevents night blindness and focal drying of the eyes called Xerophthalmia and can retard the development of cataracts and macular age related changes. You can get vitamin A from two types of food sources: Animal products that contain vitamin A (such as liver or butter) or plant products that contain carotene, which your body converts into vitamin A. Foods containing carotene are usually yellow or orange, or leafy and green. Lutein and Zeaxanthin can also be very helpful for maintaining retinal health. Not only do they delay changes in the retina but also act as good protection. The best source of lutein and zeaxanthin is green, leafy vegetables, particularly spinach. Kale and collard greens are also good choices. You can also find lutein and zeaxanthin in yel-
low and orange fruits and vegetables, such as corn. Vitamin C, an antioxidant, works well for the retina, delays
you should increase you vitamin C intake, because its levels will tend to be lower than average. Citrus fruits, berries, peppers, tropical
cataracts, and is helpful in the healing and strengthening of the eye. If you smoke, drink or have diabetes,
fruits, potatoes and green, leafy vegetables are good sources. Some minerals are very essential
for the eye. Selenium, for example, both helps your body to absorb vitamin E and helps it to make its own antioxidants. Brazil nuts, yeast and seafood (like oysters) contain good amounts of selenium. Zinc helps your body to absorb vitamin A and is also part of an enzyme in your body that reduces the number of free radicals. Zinc might also protect against macular degeneration and night blindness. You can get zinc from, wheat and nuts. The best source of omega-3 fatty acids is cold-water fish, which is high in both EPA and DHA, Alternate source include vegetable oils (including foods made from vegetable oils, like margarine); and the popular evening primrose supplements. The best way to take care of the eyes is to eat a healthy diet and to have an eye checkup at regular intervals. A six-monthly checkup after the age of 40 should be mandatory. A good checkup can detect most problems well before they occur and if existent can be treated easily.
K
the behavior continues, walk away from them. However, remember to not raise your voice or slap them, this will result in them throwing tantrums to gain attention - negative
or positive. n Always treat your kids as grown-ups. They too look for respect and importance from par-
ents. Compliment them on a task well done, include them in decision making like choosing their clothes or shoes or the colour for their room, etc. n Try not to scold your child. If you lose your temper, it will only reveal your weak spot and kids are quick to pick on those and use them effectively. Also, follow the manners you're trying to teach your child. For example, say please or sorry or excuse me instead of pushing people out of your way. n If your kid is misbehaving in front of guests, don't scream at them. Wait till you get back home and then explain strictly that this kind of behaviour is unacceptable. Also, warn them that if they repeat this behaviour, you will have to take stern action.
A
brawny and toned abdomen is a typical goal of a physically and also mentally fitness program. Your core -- the abdomen and lower back muscles -- supports your spine and prevents low back problems which affect 80 percent of Americans. There are numerous products promising maximum results and a six-pack abdominal section for minimal effort. Most do not live up to their promises. Exercise and proper nutrition will strengthen abdominal muscles and reduce excess body fat for a toned look and improved appearance. Results are based on effort, proper information and, most of all, consistency and patience. Function Your abdominal muscle group consists of three primary muscles. Your rectus abdominis contracts to flex, or bend, your spine. The side obliques bend your spine to the side and rotate your torso. Your transverse abdominis contracts to compress your abdomen and stabilize your torso. Your abdominal muscles work opposite of your lower back muscles for movement and work together to provide spinal support. Effective abdominal workouts should include exercises for all muscles and movements. Effects Your abdominal muscles exert force to overcome movements using your bodyweight or gravity as resistance. Abdominal exercises consist of movements such as lifting your upper body to target your rectus abdominis muscle. Exercises in which you rotate your shoulders while keeping your hips stationary or rotate your hips while keeping your shoulders stationary work your side obliques. Exercises in which you lift or crunch your lower body and hips up towards your ribs target your transverse abdominis. Your abdomen also works as a stabilizer when you contract your abdomen to keep your body straight while part of your body is airborne. The key to effective exercising is to m a s t e r p r o p e r exercise technique with all movements. Time Frame There is no shortcut to achieving an improved abdominal appearance. Proper exercise progression is necessary starting with beginner-level exercises. It is important to establish a mind-body connection to understand the role of the muscle in the exercise. After mastering proper exercise technique, progression through increased repetitions will result in strength and endurance gains. A goal of 20 repetitions for each exercise is suggested. Three to four workouts of 20 minutes is suggested on a weekly basis. After 8 to 12 weeks, noticeable results and progress should be achieved Misconceptions While abdominal muscles can be strengthened through callisthenictype exercises such as crunches and leg lifts, results will not include reduced body fat. You cannot crunch your way to a flattened abdomen. Cardio training is essential for burning calories and achieving caloric imbalance, or burning more calories than you consume. In addition, proper nutrition must be added to programs with the goal of reducing abdominal size
Vit B12 tied to Alzheimer’s
Handle with Care ids react positively to tender methods of disciplining than to constant shouting and threatening. Scolding or beating your child for every little fault will only serve to make them more rebellious. Disciplining a child is something that needs to be handled carefully, delicately and with plenty of love. Here's how to Instruct kid n Set examples for them to follow. Kids tend to ape the behavior of elders. If you want them to get habituated to doing something, you should do it too. For example, throw the garbage in the bin or straighten out your bed when you wake up or eat without chomping on your food, your kid will automatically learn and follow. n If kids are boisterous in a public place, be patient and try reasoning out with them first. If they still don't pay heed to you, resort to some stern words. If
Tips For Better Looking Abs
V
itamin B12 may help protect against Alzheimer's disease, according to a study out Monday. The study suggests that seniors with more of the active part of the vitamin in their blood have a lower risk of developing the disease, which eats away at the minds of one in eight Americans aged 65 and older, according to the Alzheimer's Association. However, the findings don't necessarily mean that taking B vitamin supplements will stave off mental decline. Just last summer, for instance, a pair of studies deflated long-held hopes that B vitamins -- like B12 and folic acid -- would help patients who had suffered strokes or heart attack (see Reuters Health stories of June 22 and August 4, 2010). "More research is needed before we can get a conclusion on the role of vitamin B12 supplements on neurodegenerative diseases such as Alzheimer's disease," said Dr. Babak Hooshmand from Karolinska
Institutet in Stockholm, Sweden, whose findings appear in the journal Neurology. But he added that many elderly people suffer from B12 deficiency, so the results could turn out to be important.
"Our findings indicate that vitamin B12 and related metabolites may have an important role in Alzheimer's disease," Hooshmand told Reuters Health by e-mail. The researchers took blood samples from 271 Finnish seniors without dementia. At a second examination about seven years later, they found 17 (six percent) had developed Alzheimer's.
Those who did had higher levels of holotranscobalamin -- the active portion of vitamin B12 -- and lower levels of homocysteine, an amino acid tied to mental decline, stroke and heart disease. Folic acid was not linked to Alzheimer's. B vitamins decrease homocysteine levels, and so have attracted a lot of attention as a potentially cheap and safe treatment. But it is unclear if they are just a sign of disease or have a causal role. Neurologist Dr. Sudha Seshadri, of Boston University, said she wouldn't advise taking extra B vitamins unless a doctor had diagnosed signs of deficiency. "Too much folate in the presence of B12 deficiency can be harmful," she told Reuters Health by e-mail. However, she added, "A healthy diet with adequate B12 may still be useful in reducing risk despite the failure of initial clinical trials to show a benefit on cognition." Vitamin B12 is found in a variety of foods, including dairy, eggs, fish and meat.-Reuters
Win a Pinch of Salt E
xperts talk of in a report about the mind leading bogus misconceptions associated with table salt. How much salt is enough? Are you among those who won't touch their meals without adding copious amounts of salt? Or do you belong to that category that vehemently refuses to add any salt at all to their diet? Too much salt intake and none at all are both equally harmful. According to Consultant Interventional Cardiologist Dr Vijay Surase, salt is considered by many as an essential part of the human diet. While awareness about the perils of excessive salt intake has increased - with supermarket shelves overflowing with food products, which contain less salt or
no salt - the question remains, how important is salt restriction? "Common salt is composed mainly of sodium and chlorine. Sodium chloride is critical for the maintenance of osmotic balance and other functions. It is true that salt can be dangerous for some people and it is also true that sodium chloride can be obtained from other foods. However, research indicates that approximately 80 per cent of the population will actually benefit from consumption of natural sea salt, which is less refined than common table salt and does not contain added aluminum compounds. Unless you're told specifically by a qualified specialist about limiting or stopping your salt intake, it should not be done so because it
can cause terrible weakness, drowsiness, depression, convulsions, a n d e v e n coma. Even hypertensive patients n e e d not live w i t h t h i s f e a r about salt. Normal salt intake is fine but excess salt in your diet (consumption of French fries, pickles, papads, chaat masala etc should be avoided," says Dr Surase.
Interventional Cardiologist Dr Shantanu Deshpande says that salt is essential for maintaining homeostasis in our bodies. " T h e normal requirement is just 500 mg per day. Most Indian diets, however, exceed that limit. Normally excessive salt intake is excreted in the urine. But in almost 50 per cent of individuals, the kidneys are not able
to handle this excess of sodium. Excess of salt in your blood stream retains more water resulting in a rise in blood volumes and blood pressure. It also results in hypertrophy of heart and blood vessel musculature resulting in permanent rise in blood pressure. These effects are more pronounced in the elderly and diabetics. Reducing salt intake in your diet reduces blood pressure. A low salt diet containing less than 5 gm of salt per day is recommended for high blood pressure patients who should avoid items like chutneys, cheese, processed food items and junk food. Senior Interventional Cardiologist Dr Rajiv Bhagwat says that the importance of salt intake in regulation of blood pressure is well
established. "Reduction of salt is one of the most important and effective life style modifications to reduce blood pressure. A 2 mm reduction in historic blood pressure reduces stroke mortality by 10 per cent and seven per cent reduction in mortality from coronary diseases. Besides reducing blood pressure, salt reduction also reduces Left Ventricular Sickness (Hyper Trophy), reduces protein loss in urine, reduces osteoporosis and bone mineral loss with age, protects against stomach cancer, asthma and possibly against cataracts as well. Increase your intake of potassium, which is found in plenty in fruits, legumes, nuts and vegetables. Their intake is an effective mean to reduce blood pressure." -Reuters
6
Sunday, October 24, 2010
Intel bets on Aurora Feint in mobile gaming
Mobile Prices Updated on 23 October, 2010
SYED ABUL ABBAS NAQVI
Nokia 1202 1203 1208 1209 1280 1616 1661 1650 1680 Classic 1800 2220 Slide 2330 Classic 2600 Classic 2690 2700 Classic 2730 Classic 3600 slide 3610 Fold 5030 5130 5220 5230 5233 5310 5320 5530 5630 5730 5800 6120 6220 Classic 6300 6303 6303i 6600 Slide 6600 Fold 6700 Classic 6720 Classic 6730 Classic 6760 Slide 7210 7230 7310 7510 7610 C1-00 C5 E5 E52 E55 E63 E66 E71 E72 E75 N78 N79 N82 N85 8GB N86 N95 8GB N96 N97 N97 mini N900 X2 X3 X6 16GB X6
2,100 2,050 2,200 2,250 2,075 2,350 2,625 3,250 3,650 2,750 4,300 4,450 4,950 5,300 6,700 7,900 12,900 9,600 3,025 7,800 10,400 13,400 12,200 12,400 14,900 17,300 17,200 23,000 21,700 11,700 17,900 10,800 11,300 10,700 18,900 19,000 19,800 20,200 15,200 18,800 8,550 10,750 11,000 14,000 13,200 3,200 14,200 21,300 21,200 23,000 16,800 20,000 21,300 27,500 24,000 19,800 26,300 26,000 22,800 31,500 36,000 36,500 39,000 33,000 39,500 9,800 11,900 31,500 57,000
I
ntel has jumped into the hot market of social gaming with an investment in platform maker Aurora Feint. The chipmaker announced that it has joined the second round of funding for the Burlingame, Calif.-based company. Aurora Feint makes the OpenFeint platform that the company says powers 3,400 games for more than 45 million mobile gamers. Other investors in Aurora Feint include Japanese social game maker DeNA and Chinese online game maker The9. Aurora Feint said the Intel funds would be used to expand the company's cross-platform development. Aurora Feint last month expanded its platform from the Apple iPhone to include smartphones running Google's Android operating system. Among the popular titles available on the platform are Fruit Ninja, MiniSquadron and Flick
8,700 16,800 9,600 8,800 7,700 9,700 13,200 19,000 18,200 43,500 25,600 9,400 8,200 12,700 14,800 15,600 16,100 21,400 14,500 12,800 33,000 30,800 17,300 18,700 38,700
Samsung B130 B200 B220 Guru B300 B3210 CorbyTXT B3410 B3410W Chat WIFI B5722 B7300 OMNIALite B7320 Omnia PRO Guru B100 E1080 E1100 E1125 E250 D980 (Dual Sim) J150 J700 M150 M200 M620 M3510 Beat b M3710 Corby Beat M7500 Armani M7603 Beat DJ M8910 Pixon 12 C3010S C3053 C3212 C3303k Champ C3510 Genoa C5212 DUOS S3310 S3653 Corby S3653 WIFI Star S5230 S5230W Star WIFI S5350 Shark S5550 Shark 2 S5560 Marvel S5620 Monte S7220 Ultra b S7350 Ultra s S8003 Jet S8300 Tocco Ultar Edition
2,050 2,600 3,900 3,600 9,700 12,000 13,400 15,400 24,000 19,200 2,450 2,200 2,450 3,200 5,200 20,300 6,550 7,550 5,100 6,200 6,250 9,200 12,700 30,300 32,000 40,600 5,700 6,000 8,000 7,600 8,800 9,800 7,900 10,600 13,400 11,000 12,300 12,000 14,500 15,600 15,500 21,000 22,100 24,000 28,200
LG KP110 KP199 KP220 KP320 KP175 KG288
3,700 6,600 6,500 8,500 5,950 2,450
NOTE: Always visit your local shop for the exact Mobile Phone prices.
Intel's interest in supporting social gaming platforms is to stimulate sales of mobile devices, powered by Intel chips, on which to play. "Over the past few years,
interest in mobile gaming has exploded, creating a huge market opportunity to deliver these games to the 1 billion plus mobile device users worldwide," said Mike Buckley, managing director of Intel Capital, the company's investment arm. The thriving mobile gaming market is reflected in the string of recent acquisitions. Electronic Arts said Wednesday that it had acquired Chillingo, best known for its popular "Angry Birds" game for Apple's mobile devices, which include the iPhone, iPod Touch and iPad. Terms were not disclosed. Other recent deals include Walt Disney Co.'s purchase of Playdom for $763.2 million; DeNA acquiring Ngmoco for $400 million; and San Francisco-based Zynga, creator of popular Facebook games such as "Mafia Wars" and "Farmville," acquiring Unoh, a Japanese creator of social games.
S
amsung Electronics is planning a joint software platform that will combine content on its TVs and smartphones in an effort to attract both more app developers and customers. What wasn't specified is whether Samsung plans to develop the platform using its Bada operating system or if it will run on Android. Already, Apple has launched Apple TV, which lets users rent movies and TV shows through iTunes and other online services, and will soon stream multimedia from the iPhone. "There is a huge battle for the living room even among the Microsofts and the Dells and HPs of the world so this is not new, but what is new is that the smartphone is increasingly becoming a major computing device for people," said Chris Hazelton, research director, mobile and wireless, at the 451 Group, "so if you're connecting a PC to a TV why not dock your smartphone to the TV also?" The joint platform is also good for consumers who often aren't motivated to download or upload photos taken on their smartphones to a PC, he said.
Google updates YouTube for Android
Sony Ericsson T303 T707 W302 W380i W350i W395 W595 W705 W980 W902 W995 F305 S302 C510 C901 C902i C903 C905 G502 G700 XPERIA X1 Aino Jalou U100 Yari Satio Idou
Kick Field Goals. All are paid games.
Samsung prepping integrated Smartphone, TV platform
G
oogle has pulled the YouTube application out of Android OS and created a stand-alone version of it. The new version (2.0.26) includes a number of updates to the application. Google says that the application has a brand new user interface. When the app is first launched, users see a long list of videos on the home page. At the top, users can turn on their own video camera, or perform a search. Since Android supports Voice Actions, this is a really quick way to find and watch videos if you know what you're
looking for. The new
also
playing. This was a longrequested feature for YouTube
allows for in-page playback, which means users can read comments while videos are
mobile. The new app also has a personalized homescreen video feed and new player
YouTube
controls. Last, when users rotate their phone, the player will also rotate and fill the full screen for edge-to-edge playback. This means as Google moves forward in developing new features for Android's core systems, users won't have to wait for major OS updates to get them. They'll be able to download the updated application by itself, instead, as demonstrated by the Gail and YouTube apps. The new YouTube application is a free download from the Android Market.
Facebook plans to encipher users info R
esponding to concerns raised earlier this week that popular Facebook apps expose user identification numbers (UIDs), Facebook on proposed addressing the issue through encryption. Facebook engineer Mike Vernal published the proposal on the Facebook developer's blog, noting that Facebook hopes to lay the groundwork to implement encrypted UIDs over the next few weeks and then to add support for encryption following community feedback. A specific migration timeline will be announced later. The issue is that certain Facebook apps transmit UID numbers, which may be used to identify Facebook users and
link actions at other Web sites to a Facebook identity. When a
application, an iframe-based canvas application that
Facebook user requests a Web page with images or other resources, the user's browser may send HTTP header information that includes the URL of the Web page. For a particular type of Facebook Platform
includes a third-party iframe or resource, the HTTP Referrer header may include the user's UID number once the user has authorized the application. Vernal says that while some Facebook developers have
been employing page redirection or "double framing" to remove UIDs from URLs, Facebook wants to develop a better fix for the problem. The change will prevent the accidental sharing of UIDs through the Referer header; it won't stop deliberate UID sharing that violates Facebook's developer rules. "While this proposal will address the inadvertent sharing of this information on Facebook, the underlying issue of data sharing via HTTP headers is a Web-wide problem," wrote Vernal. "We look forward to working with the Web standards community and browser vendors over the coming months to help address this issue."
Google creates Facebook block for Chrome
O
n the heels of yet another Facebook privacy snafu earlier this week, a Google engineer has released a Chrome extension designed to prevent Facebook from tracking users who visit Web sites that use Facebook Connect. Facebook Connect is a set of APIs that Web developers can integrate into their Web pages to allow visitors to log in via their Facebook identities and share information with their Facebook friends. Web pages that employ Facebook Connect code provide data about logged-in Facebook users who visit to Facebook. Brian Kennish, an engineer on Google's Chromium project, explains the issue on Facebook Disconnect's Chrome Extensions Web page. "Facebook is notified whenever you visit one of the more than one million sites on the Web that use Facebook Connect and has a
history of leaking personally identifiable information to third parties," he wrote. "Turn off the flow of your data to them!" Indeed, Facebook's record on privacy leaves something to be desired. Every few months another privacy issue crops up. But the same can be said about Google. Both companies insist they take user privacy very seriously and users, for the most part, don't take privacy issues seriously enough to stop using Facebook or Google. Kennish developed his extension as a personal project in a single day and posted it the day after news broke that a number of Facebook apps were leaking user ID numbers. It's also possible to block Facebook data gathering using the popular Adblock Plus extension for Firefox, with the addition of this filter. Adblock Plus will also block Google ads.
Mozilla proposes open web app system Just days before Google plans to launch its Chrome Web Store to distribute Web applications, Mozilla has decided that it wants to see more Web app stores. The open-source software organization, which just announced a new CEO, said that it wants to create a way to simplify the discovery, acquisition, installation, and use of Web apps while simultaneously helping developers monetize said apps. Mozilla is not the first organization to come to the realization that software distribution needs to be rebooted. There are currently dozens of stores hoping to replicate the success of the iTunes App Store, mainly for mobile apps. Web apps are applications that run in the user's Web browser; they may or may not require network access or
local storage. The installation process is akin to making a Web bookmark, though the experience has been reimagined in a way that makes it feel more like installing a desktop application. Mozilla isn't planning to open a Web app store of its own or to provide payment infrastructure. Rather, it wants to create the code necessary to support free and paid Web app installation by individuals and distribution by developers. Mozilla motivation for doing this is because the vertically integrated experience pioneered by Apple in its iTunes ecosystem presents "problems such as an opaque approval processes, lack of choice for developers, platform lock-in, [and] high(er) development cost when going cross-platform," the company explains on its Web site.
Latest Gadgets KDDI Redesign Galaxy The Samsung Galaxy Tab on the KDDI network will look different in that it will have no branding from Samsung on it and 3G will be removed from the device. As well as removing the branding and 3G aspects of the device, a few cosmetic changes will also be made to the hardware which includes the 4 buttons below the screen being rotated to align correctly when the device is held in landscape mode
Archos 7 Inch Android Tablet Archos looks set to be launching another new Android based tablet. This time the tablet will be called the Archos 70 and will run the Android 2.2 operating system. The tablet has a 7 inch screen that has a resolution of 800 by 480 pixels. The processor inside runs at 1GHz and is a Cortex A8 processor that also utilises a graphics accelerator.
Samsung Epic 4G to Get Game Pad
Samsung Chat 322 Dual-SIM QWERTY Announced
The Samsung Epic 4G normally has a slide out QWERTY keyboard. A modder decided to pull away a bunch of the keys to create more of a game pad setup to play games.
Samsung is launching another dual-SIM phone. The new phone is called the Samsung Chat 322 and the difference with this one is that it comes with a QWERTY keyboard
HP Slate 500 Announced HP has finally announced the HP Slate 500 tablet. The HP Slate 500 runs an Intel Atom processor and uses Windows 7 as the operating system. For technical specs it has a 1.86GHz Intel Atom processor. 2GB of RAM can be found inside along with a 64GB SSD for storage.
7
Sunday, October 24, 2010
Novartis earnings up at $2.3bn, helped by Alcon
BERLIN: A scientist looks trough an electronic microscope a certification hologram patch on a medicine box in a laboratory of Sanofi-Aventis. -Reuters
Lecture on Awareness of Breast Cancer by Roche RAWALPINDI: October is said to be the month of Breast Cancer Campaigns, Lectures and Activities on Breast Cancer awareness are held in this month. Fatima Jinnah Women University has also conducted a Lecture on Awareness of Breast Cancer for the students and Faculty. Dr Huma Jehangir, University Medical Officer, FJWU arranged a lecture on Breast Cancer in collaboration with Roche, a reputed multinational pharmaceutical company. Dr. Fauzia Abdus Samad, a
No #1
renowned Oncologist of the town, now working as Consultant Oncologist in Fauji Foundation Hospital, Rawalpindi, delivered a lecture followed by Q&A in FJWU. A team of four individuals from Rouche, M Jawad Malik (Field Manager), Arslan Haider (Field Manager), Ammar Kazmi (Field Manager) and Junaid Yousaf(Sales Manger) participated in the lecture. The topic of this session was "Early Detection and Prevention Of Breast Cancer".While highlighting
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help of its coalition partners would overcome the difficulties. The meeting also reviewed the overall performance of the government over the last two and half year in addition PPP members of the Punjab assembly complaint about the non-release of development funds. According to sources the PPP MPs complained against PML-N and said that it does not take PPP MPs into confidence over provincial matters. Earlier, Prime Minister Raza Gilani held meeting with Governor Salman Taseer here at Governor House and exchange views over present political and law and order situation in the country. As per details, meeting between Prime Minister Syed Yusuf Raza Gilani and Governor Salman Taseer was held before meeting of the parliament party of People Party Punjab. During the meeting ongoing political situation, law and order situation and ties between PPP and PML-N came under discussion. Governor Salman Taseer informed the Prime Minister about steps taken by federal institutions in flood hit areas of Punjab. Prime Minister Syed Yousuf Raza Gilani directed Governor Salman Taseer to improve ties with PML-N despite clashes. Prime Minister urged PPP workers to prepare for local government elections scheduled for next year. He said LG elections would be an opportunity to reach out to the masses. He said BB had signed a Charter of Democracy (CoD) and it was a responsibility of every worker of the PPP to implement CoD and disseminate her vision in every nook and corner of the country. The Prime Minister said the PPP had played a significant role in bringing about political stability and harmony in the country, braving all challenges, and history would stand witness to the role. -Agencies
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out cross-border helicopter raids, underlining US doubts Islamabad can be relied upon to be more aggressive. The various moves reflect a growing belief that the Pakistani safe havens are a bigger threat to Afghan stability than previously thought. US officials said a stronger U.S-Pakistan intelligence partnership would not be a substitute for closer working relationship with the military's special operation forces. -Agencies
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He said nation expects a lot from the army and the youth has to come up to the expectations of the nation. He said that ideologies of our great leader the Quaid-e-Azam and his message of Islam are a guiding light for the youth and he is optimistic that the passing out cadets would remember the sacrifices of the martyrs. -Agencies
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the issue of Breast cancer Dr Fauzia Abdus Samad elaborated Breast Self Examination process with videos and pictures for early detection and prevention. She also discussed the different treatment modalities for breast cancer patients, including Herceptin for HER 2 neu positive patients. Coffee mugs for Breast Cancer Awareness month were also distributed through lucky draw. A large number of the Students, Faculty and staff were present in the Lecture. -APP
ZURICH: Swiss pharmaceutical giant Novartis said that its third quarter net profit leapt 10 percent to reach 2.3 billion dollars (1.7 billion euros), lifted by its acquisition of eye-care group Alcon and sales of new drugs. Sales were up 13 per cent to 12.6 billion dollars, as Alconled acquisitions contributed 6 percentage points to growth. "New and recently launched products were a key driver of overall growth in the third quarter providing 2.3 billion dollars of net sales in the 2010 period," it added. Excluding Alcon, revenues generated from these new products -- such as multiple sclerosis drug Gilenya and renal cancer drug Afinitor, made up a fifth of net sales. The group issued an upbeat outlook, lifting its full-year forecast to sales growth of "low to mid-teens" in constant currencies as it took into account revenues from Alcon. Previously, it had predicted sales of "mid to high single digit." Novartis had purchased about a quarter of Alcon, the world's biggest eyecare group, from Nestle for about 11 billion dollars in 2008. It had an option to acquire another stake of 52 percent for around 28 billion dollars, a move which it made in August 2010. APP
FDA denies ViroPharma higher genetic-drug output W A S H I N G T O N : ViroPharma Inc, a specialty pharmaceutical company, said US health regulators declined to approve industrial-scale manufacturing of its genetic disorder drug Cinryze, sending its shares down 17 percent. In a complete response letter to ViroPharma, the US Food and Drug Administration (FDA) sought additional information related to observations from the pre-approval inspection and review of the
technical processes, the company said. ViroPharma said it will respond to the FDA and plans to start manufacturing industrial scale lots at risk in the first quarter of 2011. The company however, expects its currently approved manufacturing process alone to yield up to 60,000 doses annually. Cinryze is the company's approved treatment for a fatal genetic disorder called hereditary angioedema and is
expected to generate full-year revenue of $165-$175 million. In June, ViroPharma approached the FDA, seeking approval to commercialize Cinryze manufactured using the industrial scale process. The company's shares, which had plunged 18 percent since it expressed doubts over the drug's production capability in October last year, fell to $13.51 pre-market trade on Friday. They closed at $16.19 Thursday on Nasdaq. Reuters
Pharmas influence prescriptions: study SINGAPORE: Doctors tend to prescribe drugs that pharmaceutical companies promote to them and patients end up paying more but not always getting the most suitable medicines, researchers reported on Wednesday. An analysis of 58 studies in several countries found that information from drug companies influenced the decisions doctors made, and not necessarily in a positive way. "You couldn't say that information from pharmaceutical companies benefited doctor's prescribing, which is what pharmaceutical companies claim," said Geoffrey Spurling
of the University of Queensland in Brisbane, Australia, who led the study. "Many doctors claim they are not influenced and having done the review, that is not supported. You have to say that at least some of the time, doctors are influenced," he said in a telephone interview. Several of the researchers in the study are members of Healthy Skepticism, an international nonprofit research, education, and advocacy association set up to "reduce harm from misleading health information." The report found that doctors who accepted briefings or other information from drug
companies were more likely to prescribe those products. None of the studies found that doctors prescribed a drug less often because of promotional or informational materials. More than half the studies were conducted in the United States. Other countries included the United Kingdom, Canada, Denmark, France, Estonia, Turkey and Australia. "The companies don't spend this money with drug detail people if it doesn't work," said Dr. Sid Wolfe of the US advocacy group Public Citizen, which has campaigned against such drug company activity. Reuters
Biosimilar threat tarnishes Novo’s star status Shares down around 10 percent in less than two days COPENHAGEN/ LONDON: Fears of cut-price competition in the insulin market sent shares in Novo Nordisk skidding again, lopping some 10 per cent off the Danish drugmaker's market value in less than two days. The threat from so-called biosimilar insulins has been crystallised by PFIZER's agreement to sell versions of insulin developed by India's Biocon. Piper Jaffray senior analyst Sam Fazeli said the news was a sudden reminder of the likelihood of generic insulin compe-
tition in a few years' time and shares in Novo -- the European drug sector's star performer this year -- could drop even more. "The real risk from generic insulin is far out, but Novo's valuation was so high it was vulnerable," he said. "They are taking a hit because they are the most expensive pharma company in the world. In order to have that kind of valuation, you need to have a business that is bulletproof." Fazeli, who has a neutral stance on Novo's shares with a
price target of 495 crowns, added that if Biocon had made a deal with any drugmaker other than the world's biggest "maybe people wouldn't have been so worried". The Danish drugmaker, the world's biggest supplier of insulin, has been on a roll since mid-2009 on hopes for its new diabetes drug Victoza and confidence in its insulin franchise. Expanding waistlines globally have fuelled an epidemic of type-2 diabetes that has boosted demand for its products.
PFIZER AMBITIONS The looming challenge from PFIZER is a blow but arguably no great surprise, given the U.S. company's stated ambitions to become a major player inbiopharmaceuticals. Novo spokesman Mike Rulis said his company expected generic competition after patents for its modern insulins expired. "Nothing in this has changed the playing field. We believe both our existing products and, not the least, our upcoming new products will remain very com-
petitive," he said. Biosimilars -- copies of complex biotech drugs that are comparable, though not identical, to the original product -are also a long-term threat for other companies making biological medicines, like Roche and Amgen. Sanford Bernstein analyst Jack Scannell said that with biosimilar insulins still at the development stage, their success was not guaranteed -- but he noted that the deal between PFIZER and Biocon was the first of its kind.-Reuters
powerful member of the IMF, up from sixth spot now. India will also wield more power in the fund. "Our complaint was that the quota share should reflect ground reality and economic strengths currently. Otherwise, it would have eroded the credibility of the institution. That has now been corrected," Indian Finance Minister Pranab Mukherjee said.-Reuters
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According to media reports, troops backed by helicopter gunships carried out shelling on key Taliban positions in remote Hadizai and Alizai mountains of Upper Orakzai Agency. Two hideouts were completely destroyed in the aerial blitz. In addition, a search operation continues in Hangu District of Khyber-Pakhtunkhwa. Acting on an intelligence report, security forces launched a search operation in Spin Thall Town of Hangu, recovering a cache of arms, ammunition and explosive material. -Online
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According to the details, the election commission of Pakistan has suspended the membership of 150 members of Assembly including 10 members of KP for not declaring their assets in Election Commission of Pakistan. In this connection 114 assembly members of KPK had declared their assets with election commission of Pakistan where other ten members of assembly including three Ministers has not declared their assets within time that's why their membership has been suspended. After the declaration of assets the membership of 5 members of assembly including three Ministers has been restored wherein remaining will be restored within next few days who have obtained declaration forms.-Online
These dialogues were held during the erstwhile labor party led government. British home secretary during her stay will meet President Asif Ali Zardari, Prime Minister Syed Yousuf Raza Gilani, political leadership and other functionaries. The members of UK foreign Continued from page 8 No #10 affairs committee will also accompany her and they will hold talks Many of the documents, which span from January 2004 to with Pakistan foreign affairs committee on October, 26. -Agencies December 2009, chronicle claims of abuse by Iraqi security forces, while others appear to show that US troops did nothing to Continued from page 1 No #5 intervene to stop the abuse. decision will be taken to hike gas tariff. The documents comprise the second such release from the conSources told if the plea of SNGPL was accepted then CNG price troversial website, which accused the United States of "war was likely to be increased by Rs 5. -Online crimes" and earlier released some 92,000 similar secret military Continued from page 8 No #6 files detailing operations in Afghanistan. with Pakistan. Iranian ambassador invited Rehman Malik to Other reports describe Iraqis beating prisoners and civilian visit Iran on behalf of Iranian Interior Minister Mustafa Nijar. women being killed at US military checkpoints. Rehman Malik accepted the invitation and said that he would The Guardian newspaper said the leak showed "US authorities visit to Iran very soon. Iranian ambassador ensured that Iran failed to investigate hundreds of reports of abuse, torture, rape and would continue cooperation for reconstruction and rehabilitation even murder by Iraqi police and soldiers whose conduct appears of flood affectees.-Online to be systematic and normally unpunished." It added that "more than 15,000 civilians died in previously Continued from page 8 No #7 voting power to emerging economies whose clout in the Fund unknown incidents," going on to say that "US and UK officials have insisted that no official record of civilian casualties exists but has not kept pace with their economic ascent. As part of the agreement, China will overtake traditional pow- the logs record 66,081 non-combatant deaths out of a total of erhouses Germany, France and Britain to become the third most 109,000 fatalities."-Agencies
LAUSANNE: President of the Swiss Federal Institutes of Technology (EPFL) Patrick Aebischer (L) stands next to Nestlr CEO Paul Bulcke prior to a press conference at the EPFL in Lausanne.-Reuters
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World urged to write off Pak debts ISLAMABAD: Iranian Ambassador to Pakistan Mashallah Shakeri called on Interior Minister Senator A Rehman Malik.-APP
G20 averts trade war, seals IMF power shift GYEONGJU: The Group of 20 major economies, G20, agreed to eschew competitive currency devaluations but stopped short of setting targets to reduce trade imbalances that are clouding global growth prospects. At a meeting in South Korea, G20 finance ministers recognised the quickening shift in economic power away from Western industrial nations by striking a surprise deal to give emerging nations a bigger voice in the International Monetary Fund. A closing communique contained no major policy initiative after a US proposal to limit current account imbalances to 4 per cent of gross domestic product, a measure aimed squarely at shrinking China's
14 militants killed in Orakzai ORAKZAI AGENCY: At least 14 militants were killed and ten others injured on Saturday after security forces pounded their hideouts in Orakzai tribal region. See # 8 Page 7
Five MPs membership restored PESHAWAR: Membership of five assembly members, including three provincial Ministers of Khyber PakhtunKhwa, was restored by Election Commission of Pakistan (ECP) after the members declared their assets here on Saturday. See # 9 Page 7
surplus, failed to win broad enough backing. The main aim of the two days of talks, which precede a G20 summit in Seoul on Nov 11-12, was to ease currency strains that some economists feared could escalate into trade wars. China, among others, frets that the US policy stance will debase the dollar, the lynchpin of the global economy. Washington, by contrast, is frustrated over the refusal of China in particular to let its currency rise to a level that reflects its growing economic power and would help reduce its big trade surplus with the United States. "If the world is going to be able to grow at a strong, sustainable pace in the future... then we need to work to
achieve more balance in the pattern of global growth as we recover from the crisis," US Treasury Secretary Timothy Geithner said. Despite the sniping from Germany and China, whose finance minister demanded responsible policies from issuers of major reserve currencies -- code for the United States -- host South Korea put an optimistic spin on the outcome of the meetings. "This will put an end to the controversy over foreign exchange rates," said Finance Minister Yoon Jeung-hyun. South Korea was also able to point to the deal to shift more than 6 per cent of the IMF's quotas membership subscriptions that help determine See # 7 Page 7
Malik, Shakri moot mutual interests ISLAMABAD: Interior Minister Rehman Malik was called upon here by Iranian ambassador Mashallah Shakri to discuss the issues related to mutual interests and enhancement of bilateral ties. Rehman Malik said that Pakistan gives importance to its ties with Iran while ties between both the countries would be made strong and durable. Rehman Malik thanked Iranian president, interior minister and ambassador to help out the flood affectees. Minister further said that Iranian ambassador not only took review of flood devastations but also expressed consolidation with flood affectees. Iranian ambassador said that Iran is eager to improve ties See # 6 Page 7
LAHORE: Provincial Minister for Finance, Planning & Development Tanveer Ashraf Kaira has asked the international community to right off or reschedule loans of Pakistan thus enabling it to withstand current devastations. The provincial minister was quoted as saying that in this critical situation when on one front Pakistan is fighting war against terrorism and on the other hand relief and rehabilitation of flood victims is a second great challenge, international community should come forward to help Pakistan. Tanveer Ashraf Kaira has
said that all available resources are being provided to the flood affectees for their early rehabilitation, but the large scale devastation need more help and international aid. While talking to a delegation of MPAs at his residence, here today, the Minister said that international community should change its stance and more aid should be provided to Pakistan. He also said that aid of Rs20,000 is being provided to the affectees in a transparent manner and over all Rs16 billion would be given to affectees under which Rs8 bil-
lion is being provided by federal government and Rs8 billion by Punjab government. He said that $2 billion US Military Aid is a positive step between the by literal relationship of US-Pakistan and it would further Strengthening the relations of both countries. Tanveer Ashraf Kaira said that for the first time in the history of Pakistan, foreign exchange reserves has been gross up to 17 billion dollar and stock exchange is also showing positive trend and it reflects that our economic indicators are going in a right directions.-Online
EU set to restart N-talks with Iran BERLIN: European Union foreign affairs supremo Catherine Ashton reiterated her readiness to resume talks with Iran over its nuclear program, German press reports said. Ashton suggested in a letter addressed to Iran's EU ambassador that the talks could be held in Vienna on November 15. The EU foreign policy chief is due to head the negotiations
with Iran on behalf of 5 plus 1, a group that comprises the United States, Britain, China, France, Russia and Germany. Tehran had earlier welcomed Ashton's offer to jump-start talks, saying it was 'good news.' Iran had complained that Ashton was being less committed to the nuclear talks than her predecessor Javier Solana. The Iranian government has
several times said it was ready to resume nuclear talks with the western powers. Iranian President Mahmoud Ahmadinejad has repeatedly said his country would be prepared for talks but stressed that the talks should in the first place recognize Iran's legitimate rights to pursue peaceful nuclear projects, including the uranium enrichment process.-NNI
Minister denies confrontation with Fahim
Qamar sees no end in sight for gas shortages ISLAMABAD: Federal Minister for Petroleum and Natural Resources, Naveed Qamar avoided following the footsteps of his fellow minister, Raja Pervez Ashraf, by not making any promise regarding the elimination of gas load-shedding. The minister was very wise in not giving a deadline for elimination of gas load shedding or committing anything in this regard, thus reveling that government has not yet constituted a serious plan to end the shortage in gas supply. While talking to Online here Saturday Naveed Qamar told that load shedding is being conducted for industry and CNG stations as the country is confronted with gas shortage. He denied rumors of clashes between him and Makhdoom Amin Fahim federal minister for trade adding that he has close friendship with him.
Answering to question he replied that we should not make promises of providing a thing that is not present or is in shortage so that's why he is not going to make any promise for elimination of gas load shedding. He said that there is no confrontation between the government and judiciary but some elements have desire to create rift between them. He said that conspiracies against PPP would be foiled. Naveed Qamar also denied that some political personalities diverted floodwater and said the court is probing into the matter. He said that it is very difficult to run the ministry and concerned departments under it, adding that he was happy being member of opposition as against federal minister because he was free to say anything. He said that being part of government he is bound.-Online
WikiLeaks exposes 0.4mn confidential US documents
Documents show truth on Iraq war: Assange LONDON: WikiLeaks' founder Julian Assange was quoted on Saturday as saying that the website just propagated the 'truth' on Iraq war by leaking hundreds of thousands of classified US military documents. "This disclosure is about the truth," Assange told a news conference in London after WikiLeaks released 400,000 documents which give a grim snapshot of the Iraq war, including showing the abuse of Iraqi civilians by Iraqi security forces. The heavily redacted files released on Friday contain graphic accounts of torture, civilian killings and Iran's hand in the Iraq war, giving a grisly picture emerges of years of blood and suffering following the 2003 US invasion to oust Saddam Hussein. "The attack on the truth by war begins long before war starts and continues long after a war ends," Assange added. "We hope to correct some of that attack on the truth that occurred before the war, during the war and which has continued on since the war officially concluded." WikiLeaks' spokesman Kristinn Hrafnsson told the same news con-
ference that it would also soon release a further batch of 15,000 secret files on the war in Afghanistan. The Iraqi government said the documents "did not contain any surprises". WikiLeaks made the files available to selected newspapers and TV channels and then, just before their publication, invited journalists for a threehour lock-in preview in London. In one report, US military personnel describe detainee abuse by Iraqis
at a facility in Baghdad that is holding 95 detainees in a single room where they are "sitting cross-legged with blindfolds, all facing the same direction." It says "many of them bear marks of abuse to include cigarette burns, bruising consistent with beatings and open sores... according to one of the detainees questioned on site, 12 detainees have died of disease in recent weeks." See # 10 Page 7
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