The Financial Daily-Epaper-27-02-2011

International Karachi, Sunday, February 27, 2011, Rabi-ul-Awwal 23, Price Rs12 Pages 8

Afridi guides Pak to win over Lanka Economic Indicators Forex Reserves (19-Feb-11) Inflation CPI% (Jul 10-Jan 11) Exports (Jul 10-Jan 11) Imports (Jul 10-Jan 11) Trade Balance (Jul 10-Jan 11) Current A/C (Jul 10- Jan 11) Remittances (Jul 10 - Jan 11) Foreign Invest (Jul 10-Jan 11) Revenue (Jul 10 Jan 11) Foreign Debt (Dec 10) Domestic Debt (Dec 10) Repatriated Profit (Jul- Jan 10) LSM Growth (Dec 10)

GDP Growth FY10E Per Capita Income FY10 Population

196.41 -4.34 -0.30 2972

(U.S $ in million)

FIPI (25-Feb-2011) Local Companies (25-Feb-2011) Banks / DFI (25-Feb-2011) Mutual Funds (25-Feb-2011) NBFC (25-Feb-2011) Local Investors (25-Feb-2011) Other Organization (25-Feb-2011)

-3.05 -2.89 3.15 5.92 1.01 -4.87 0.74

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$.Price PKR/Shares 2.60 110.89 13.60 116.01 2.00 42.65 1.70 36.25 10.80 36.85

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)

23-Feb-2011 23-Feb-2011 23-Feb-2011 29-Nov-2010 26-Feb-2011 26-Feb-2011 26-Feb-2011 26-Feb-2011 26-Feb-2011 26-Feb-2011 26-Feb-2011 26-Feb-2011 26-Feb-2011 26-Feb-2011 26-Feb-2011

13.49% 13.69% 13.86% 14.00% 13.36% 13.60% 13.76% 14.14% 14.26% 14.18% 14.21% 14.20% 14.56% 14.77% 14.97%

Commodities Crude Oil (brent)$/bbl Crude Oil (WTI)$/bbl Cotton $/lb Gold $/ozs Silver $/ozs Malaysian Palm $ GOLD (NCEL) PKR KHI Cotton 40Kg PKR

112.14 97.88 184.23 1,409.30 32.92 1,155 38,597 12,646

Open Mkt Currency Rates Symbols

Buy (Rs)

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87.30 87.70 15.90 118.30 11.15 1.055 22.75 67.50 13.70 90.40 23.40 138.50 85.65

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Buying TT Clean

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86.86 87.27 15.74 117.28 10.94 1.042 22.75 66.97 13.28 91.88 23.22 137.47 85.30

87.06 87.48 15.77 117.56 10.97 1.044 22.81 67.13 13.31 92.10 23.28 137.80 85.49

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See on Page 8

Bombing shuts largest Iraqi oil refinery

See on Page 8

Says no deadline, no last word in politics No single party can steer country out of crisis

SCRA(U.S $ in million)

Total Portfolio Invest (12-Feb-2011)

Sharif urges speedy Pak-India dialogues

PM turns nose up at horse-trading

Portfolio Investment

NCCPL

See on Page 8

Will sit on Opposition benches in Punjab: Gilani

$17.59bn 14.55% $13.23bn $22.55bn $(9.32)bn $(81)mn $6.12bn $1.18bn Rs 765bn $58.39bn Rs 5497.4bn $338.2mn -1.57% 4.10% $1,051 175.29mn

Yearly(Jul, 2010 up to 25-Feb-2011) Monthly(Feb, 2010 up to-25-Feb-2011) Daily (25-Feb -2011)

President promises to play positive in Punjab

KUWAIT: President Asif Ali Zardari along with other world leaders witnessing the Loyalty Parade.-APP

CIA chief telephones ISI head

ISA presses CIA to unmask operatives ISLAMABAD: Pakistan's chief spy agency has demanded an accounting by the Central Intelligence Agency of all its contractors working in Pakistan, fallout from the arrest last month of an American involved in surveillance of militant groups, a senior Pakistani intelligence official said Friday.

Angered that the American, Raymond A. Davis, worked as a contractor in Pakistan on covert CIA operations without the knowledge of the Pakistanis, the spy agency estimated that there were "scores" more such contractors "working behind our backs," said the official, who requested anonymity in order to speak candidly about a delicate matter between the two countries, a report in New York Times said

Urea-laden ship reaches Karachi Shabbir Kazmi KARACHI: This time a little extra effort of Trading Corporation of Pakistan (TCP) has yielded good results.

It was given a mandate to import 100,000 tonnes of urea on January 31.

The first ship carrying 39,988 tonnes arrived and berthed at Port Qasim on Saturday 26th February.

The other two shipments of 31,000 and 41,000 tonnes are scheduled to arrive at Karachi on 1st and 2nd March respectively.

This will take the total arrival to 107,988 tonnes against a tender awarded for 100,000 tones to Gavilon Fertilizer of USA on 7th Feburary.

The TCP has imported urea See # 7 Page 7

Saturday.

In a slight softening of the Pakistani stance since Davis's arrest, the official said that the American and Pakistani intelligence agencies needed to continue cooperation, and that Pakistan was prepared to put the episode in the past if the CIA stopped treating its Pakistani counterparts as inferior.

"Treat us as allies, not as satellites," said the official of the Directorate for InterServices Intelligence, or ISI. "Respect, equality and trust are needed."

George Little a CIA spokesman, said the American spy agency's ties to the ISI "have been strong over the years, and when there are issues to sort out, we work through

them."

"That's the sign of a healthy partnership," Mr. Little said.

The arrest and detention of Davis, 36, after he shot and killed two motorcyclists in Lahore soured already testy relations between two governments that are supposed to have a common front in the fight against terrorism.

The top American and Pakistani military leaders, including the chairman of the Joint Chiefs of Staff, Adm. Mike Mullen, and the leader of the Pakistani Army, Gen. Ashfaq Parvez Kayani, met this week in Oman, where the Davis case was discussed.

According to a report by a former head of the Pakistani Army, Gen Jehangir Karamat, See # 6 Page 7

Shahbaz sends summary to Governor for dissolution

Shahbaz active for new cabinet LAHORE: Chief Minister Punjab Shahbaz Sharif has sent the summary to Governor Punjab Latif Khosa for dissolution of cabinet.

Sources told a high-level meeting was held here Saturday under Shahbaz Sharif for consultation over dissolution of Punjab cabinet.

The participants of the meeting exchanged views on the issue of allocation of ministries to Unification Bloc (UB) and it was decided that 3 ministries would be given to UB in the new cabinet.

Sources told that decision was taken in the meeting to send the summary to governor Punjab.

Upon it Law Minister Rana Sanaullah went up to governor

house and handed over the summary to Governor Punjab.

Sources told governor Punjab was likely to dissolve the cabinet within 24 hours.

On the other hand differences have developed among the senior leaders of PML-N over the decision of including UB in Punjab government.

Senior leaders have urged party leadership not to give berths to UB in new cabinet.

Party senior leaders including Raja Zafar ul Haq, Makhdoom Javed Hashmi and Ishaq Dar had strongly opposed the expulsion of PPP from Punjab government during the meeting which was held in Islamabad under Mian Nawaz Sharif. -Online

MURIDKE: Prime Minister Syed Yousuf Raza Gilani has said PPP will sit on opposition benches in Punjab but will not indulge in horse-trading.

"There are several people who want to join us but we don't believe in horse trading. If we are not in majority we will sit on opposition benches, but we will neither become part of any horse-trading nor will do so", he said this while talking to mediamen here after addressing foundation day ceremony at Chand Bagh school Saturday.

There is no last word in the politics, he said, adding option has not ended but it has started now.

There is no deadline or ultimatum in the politics but we will not abandon the politics of reconciliation and will want all the political parties work together for the betterment of the country as any single party can not steer the country out of the crisis, he maintained.

The economic challenges and law and order situation were major problems facing the

US citizen held from Peshawar PESHAWAR: A US national arrested from Peshawar's University Town on Friday under the Foreigners' Act was sent to jail on a 14-day remand on Saturday.

The police booked him under Foreign Act and produce him before the court on Saturday morning where the court remanded him for 14 days.

See # 4 Page 7

No chance of midterm polls says, Rabbani KARACHI: Mian Raza Rabbani, Federal Minister for Inter-Provincial Coordination has said that this government would complete its tenure up to 2013 and there is no chance of midterm election.

While talking to media after attending the Convocation 2011' of Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology (SZABIST) held at See # 5 Page 7

country, he remarked. They both were the by products of terrorism and extremism, he noted. "I am working on these two priorities", he observed.

"I have no complaint against Mian Nawaz Sharif if he is not satisfied with his committee. If we don't remain with him in Punjab even then we will invite him to go along with us. I invite all the political leaders to cooperate with us to counter economic challenges. We respect Mian Nawaz Sharif. We have been running the government after PML-N quit us in the center. PML-N has been playing the role of opposition in federation", he underscored.

He went on to say country needed stability at present.

How would the provincial government hold general elections when they could not hold the local bodies polls, he questioned. However PPP would win the general elections with overwhelming majority whenever they would take place, he asserted.

Responding to a question he

said "Raiwind is my own home.

I will meet Nawaz Sharif when I wish.

"Mian Nawaz Sharif team held talks with us with sincerity and negotiations took place for 200 hours. Team led by Ishaq Dar and our team worked hard. We don't want to criticize any one but we will complete the agenda", PM remarked.

He told country's exports had swelled and foreign exchange reserves had soared higher. "We will take Mian Nawaz Sharif along on economic agenda, he said.

He held that positive thinking could be developed in the society through education.

Educational institutions should play their respective role to reform the youths. If they focus on character building of the young generation then we can be able to meet the challenges, he underlined.

It was responsibility of the government to equip educational institutions with state of art facilities, he observed.

See # 3 Page 7

Council of Common Interests remoulded ISLAMABAD: President Asif Ali Zardari, on the advice of Prime Minister Syed Yousuf Raza Gilani, has reconstituted the Council of Common Interests (CCI).

According to a notification of the Ministry of Inter Provincial Coordination here on Saturday, the President has reconstituted the CCI, in exercise of powers conferred upon him under Article 153 of the Constitution with effect from February 22.

The reconstituted CCI comprises: The Prime Minister (Chairman); The Chief Minister, Balochistan

(Member); The Chief Minister, Khyber Pakhtunkhwa (Member); The Chief Minister, Punjab (Member); The Chief Minister, Sindh (Member); Mir Changez Khan Jamali, Minister for Science and Technology (Member); Dr Arbab Alamgir Khan, Minister for Communications (Member); and Syed Naveed Qamar, Minister for Privatization (Member).

"This supersedes Cabinet Division's Notification No.69/CS/79 issued on March 3, 2010", the notification said. -APP

Efficient Pak beat Lanka by 11 runs COLOMBO: Shahid Afridi came up with another superb bowling performance as Pakistan beat co-hosts Sri Lanka by 11 runs to win their Group A World Cup match on Saturday.

The Pakistan captain followed his five wickets against Kenya in the previous game with a four-

wicket haul (4-34) as Sri Lanka, chasing Pakistan's 277-7, replied with 266 for nine wickets.

Pakistan stalwarts Younus Khan (72) and Misbah-ul-Haq (83 not out) shared a century partnership to set co-hosts Sri Lanka a challenging target to chase under lights.

See # 9 Page 7

White House freezes Libyan assets, shuts embassy

World powers searching ways to stop Gaddafi TRIPOLI: World powers struggled to find a way to stop Libyan leader Muammer Gaddafi lashing out at his people as he clings to power in Tripoli, the last big city where an uprising against his rule has yet to take hold.

President Barack Obama signed an order prohibiting transactions related to Libya and blocking property, the first major step to isolate the North African leader, who has used army, police and irregular forces to try to crush the protests.

"By any measure, Muammar Gaddafi's government has vio-

lated international norms and common decency and must be held accountable," Obama said in a statement on Friday.

Diplomats at the United Nations said a vote on a draft resolution calling for an arms embargo on Libya as well as travel bans and asset freezes on its leaders might come on Saturday after UN chief Ban Ki-moon said it could not wait.

Western powers, with whom Gaddafi has exploited Libya's oil after years of diplomatic isolation, have struggled to keep up with the pace of protests that have swept away Westernbacked strongmen in neighbor-

ing Egypt and Tunisia already this year.

Tripoli's streets were eerily quiet overnight, with portraits of Gaddafi adorning street corners and a few police cars patrolling after a day in which residents said pro-Gaddafi forces fired at and over the heads of protesters in many areas. Up to 25 people were said to have been killed in one area alone.

"Peace is coming back to our country," one of Gaddafi's sons, Saif al-Islam Gaddafi, told reporters flown into Libya under close supervision.

"If you hear fireworks don't

mistake it for shooting," the 38year-old London-educated younger Gaddafi said, smiling.

He acknowledged proGaddafi forces had "a problem" with Misrata, Libya's third largest city, and Zawiya, also in the west, where protesters had beaten back counterattacks by the military but said the army was prepared to negotiate.

"Hopefully there will be no more bloodshed. By tomorrow we will solve this," he said on Friday evening.

The country's second city Benghazi fell to the opposition along with much of eastern

Libya earlier in the uprising, which began more than a week ago. Gaddafi vowed to "crush any enemy" on Friday, addressing a crowd of supporters in Tripoli's central Green Square.

Residents said government forces had fired when protesters, who had gathered after Friday prayers around the capital, approached.

"They just started shooting people," Ali, a businessman who declined to give his full name, said by telephone. A female resident said her friend had seen police fire at people in another district and had told her 25 people were killed there.

Dramatically sharpening its stance against Moammar Gadhafi's brutal crackdown on anti-government protesters, the Obama administration is freezing all assets in the United States held by the Libyan government, Gadhafi and four of his children and abandoning the US Embassy in Tripoli.

The shift in tactics after a week of caution came immediately after the US ensured that Americans were safely on their way out of the blood-soaked North African country by air and by sea.

See # 8 Page 8

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Sunday, February 27, 2011

Education employees continue protest KARACHI: All Sindh Education Department Lower Staff Association (ASEDLSA), a body of noneducational workers, continued protest on Saturday against the provincial government's failure to regularise the services of over 7000 contract employees.

They have been staging a sit-in before Karachi Press Club for the past one week to press for their demands.

Representatives of the Sindh government and senior MQM leader Dr. Farooq Sattar visited their protest camp and gave assurances that their demands would be accepted. Since then seven days have passed without any progress on the issue.

The protesters were later joined by PML-Q's MNA Marvi Memon, who staged a sit-in with them in front of the Chief Minister House on Friday. However, their sit-in was uprooted by heavy handed police action, dragging the protestors into their vans and locking them up.

PML-Q MNA Marvi Memon was also arrested by police for showing solidarity with the protesting workers.

Protestors say that police had arrested hundreds of their colleagues, including their president.-INP

PIAF hails rehab effortss LAHORE: Pakistan Industrial and Trade Association Front (PIAF) has welcomed the first meeting of the committee formed by the Punjab Government for early rehabilitation of affectees of Shah Alam market fire incident and hoped that the committee would ensure disbursement of fund to the real affectees without any further delay. -PR

Zardari's Japan visit successful

Yamaha to set up motorcycle plant in Karachi: Mandviwalla

MURIDKE: Prime Minister Syed Yousuf Raza Gilani addressing party workers. -APP

FPCCI China office to promote trade with Pak ISLAMABAD: The Chengdu office of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) would play an important role in promoting economic cooperation between Pakistan and China and help achieve bilateral trade target of US$15 billion by 2015 as envisaged by the Governments of our two countries.

This was stated by Senator Ghulam Alim, President FPCCI during visit of the first ever overseas office of FPCCI, says a statement issued here on Saturday.

Tariq Sayeed, immediate former president of SAARC-CCI, Ata Bajwa, Vice President, Mansha Churra, former Vice President of FPCCI, Hasan Habib, Consul General of Pakistan and Dr. Saifuddin Junejo, Commercial Consular of Pakistan in

Chengdu, Javed Khalil, Vice Chairman Pak-China Business Council of FPCCI, Naseem Vohra and Iqbal Tabish, Secretary General, SAARC CCI also visited the FPCCI office.

Earlier, FPCCI office was formally inaugurated by Zhang Zou-ha, Vice Governor of Sichuan Province of China during the 2nd Sichuan-South Business Promotion held on February 25.

"FPCCI office has been provided by China Council for Promotion of International Trade, Sichuan Province, which is a reflection of 60 years old PakChina friendship and China's keen interest for strengthening economic cooperation with Pakistan" said Senator Chulam Ali and hoped that the FPCCI office shall provide consultancy to the business community of Pakistan and help explore

business opportunity in huge market of Sichuan Province.

He said that the FPCCI and its leadership is honoured by Sichuan government, which will hlep materialise the desire of President and the Prime Minster of Pakistan to establish close economic cooperation with China "The office is functional and a Chinese speaking Director has been appointed to resolve the issue faced by business community in Pakistan" further stated by the President FPCCI. The Pakistan delegation visited Lonquil Economic envelopment Zonein Chengdu and examined the manufacturing process of drilling machines in Kollebo factory and also visited Sichuan FAW Toyota Motor Company in the zone.

The visit was arranged by CCPIT, Sichuan Council Vice President Yu Ping.APP

Tajik President to open Business Forum KARACHI: The President of Tajikistan alongwith a number of Ministers and over 40 businessmen will be attending a two-day Pakistan Tajikistan Business Forum to be held in Karachi next month. This was stated by Dr Zubaydullo Zubaydov, Ambassador of Tajikistan in a meeting with President and members of Karachi Chamber of Commerce and Industry.

The Ambassador further added that it's been in plan to issue Business Visas for one to four years and that the Consulate will be established in Karachi soon. He also hinted that a direct flight between Pakistan and Tajikistan is also envisaged.

Muhammad Saeed Shafiq, President in his welcome address hailed the holding of the Business forum and assured the diplomat of full support of KCCI in this regard.-Online

Gwadar Advisory body meets Staff Reporter

SUNDAY Time 9:00 9.15 10.00 10.05 11.00 11.05 11.30 12.00 12.15 13.00 13.05 14.00 15.00 15.30 16.00 16.15 17.00 17.05 18.00 18.05 18.30 19.00 19.05 19.30 20.00 20.05 20.30 21.00 21.05 22.00 22.05 23.00 23.05

Programmes News (13 - Min) Teesri Nazar (rpt) News (05 - Min) Smithsonian Documentary Headlines Uff TV (rpt) Dilkash Pakistan (rpt) News (13 - Min) Kamyab (rpt) News (05 - Min) Agenda 360 (rpt) News (01 - Hour) News & Akhri Sauda Teesri Nazar (rpt) News ( 13 - Min) Pakistan This Week (rpt) News (05 - Min) Kamyab (rpt) Headlines Dilkash Pakistan (Fresh) Sara Jahan Headlines Filmi Samaa (Fresh)

Red Carpet (fresh) Headlines Boss Nahi Chorayga (Fresh) Munafa Khor Hoshiyar (Fresh) Pakistan Aaj Raat (Live) Badalta Pakistan News (01 - Hour) Agenda 360 Headlines Cricket Lounge

TV PROGRAMMES SUNDAY Time Programmes 7:00 News 8:00 News 9:05 I Samaa (Rpt) 9:30 Taxi News (Rpt) 10:10 The Reema Show (Rpt) 11:10 Awam Ki Awaz (Rpt) 12:00 News 13:10 Faisla Aap Ka (Rpt) 14:10 Tafteesh (Rpt) 15:00 News 16:00 News 17:00 News 18:00 News 19:30 i Samaa 20:05 The Reema Show 21:00 News 22:03 Faisla Aap Ka 23:05 Crime Week

HYDERABAD: Students hold Pakistani and Chinese flags during a rally on 60th anniversary of Pak-China Friendship in Hyderabad. -Online

Weekly inflation rises by 0.24pc ISLAMABAD: The Sensitive Price Indicator (SPI), for the week ended on February 24, for the lowest income group up to Rs.3,000, has registered increase of 0.24 per cent over the previous week.

The SPI for the week under review in the above mentioned group was recorded at 297.14 points as against 296.44 points registered in the previous week, according provisional figures of Federal Bureau of Statistics (FBS).

The weekly SPI has been

computed with base 20002001=100 covering 17 urban centers and 53 essential items for all income groups and combined.

SPI for the combined group registered increase of 0.40 per cent as it went up from 281.49 points in the previous week to 282.62 points in the week under review.

As compared to the corresponding week of last year, the SPI for the combined group in the week under review witnessed

increase of 16.26 percent.

As compared to the last week, the SPI for the income groups from Rs.3001-5000, Rs.500112000 and above Rs.12000 increased by 0.27 percent, 0.34 percent and 0.40 percent respectively.

During the week under review average prices of 8 items registered decrease, while that of 23 items increase with the remaining 22 items' prices remaining unchanged. APP

KARACHI: A meeting of Advisory Committee on Gwadar EPZ constituted by the Federal Government to monitor and advice for fast track progress of Gwadar EPZ was held, presided by the Chief Secretary Balochistan Ahmed Bukhsh Lehri. Senior Officers from Ministry of Industries and Production, Govt. of Pakistan, Government of Balochistan and Federal Board of Revenue attended the meeting.

It was decided that in Phase-I, 3000 acres of land of Balochistan Industrial Estate will be completed and in phase-II the development work on 1000 acres of land allotted to EPZA will start simultaneously.

It was further decided that Government of Balochistan may take up the matter with Federal Government for declaring the whole area of East side of Jinnah Avenue which was earlier declared as 46000 acres ratified to 121637 acres as Export Processing Zones.

The Committee was informed that Government of Balochistan and GDA will provide electricity and water to EPZ, hence the Lease rates of land for Gwadar EPZ should slash down to attract investors.

ISLAMABAD: The Yamaha Motors Company Japan would establish a motorcycle plant in Karachi this year with investment of $150 million to cater to the increasing demand of motorcycles in the country, Chairman Board of Investment, Saleem H. Mandviwalla said.

"Although the project was in pipeline for the last one-and-a-half year, the deal to this affect was finalized during President Asif Ali Zardari's recent visit to Japan," Mandviwalla told APP while commenting on the visit.

The Board of Investment (BoI) Chairman said that during the President's visit, both the countries agreed to further boost their trade and investment relations.

He said the government of Pakistan would fulfill all the quirements for establishing the Yehama plant which, he said would have capacity of producing

500,000 motorcycles annually.

Mandviwalla said that the 1960's technology was still in vogue while developing motorcycles in the country adding the Yamaha plant would introduce latest technology and produce state-of-the-art motorcycles. He said the groundbreaking of the plant would be held within next two months adding that the plant would start production by the end of 2012 or early 2013.

He said that a Japanese company would build Karachi Circular Railway and elevated expressway from Port Qasim to Karachi while Mitsubishi Company also wanted to pour in further investments in the country adding that this company was already having five projects in Pakistan.

Besides, he said, that several other companies including Toyota have shown interest to invest in Pakistan, adding that suc-

cessful meetings were also held with Japan International Cooperation Agency (JICA).

Mandviwalla said that the President during his meeting urged on the Japanese Prime Minister to provide Pakistan-specific investment credit to those Japanese companies which are interested to invest in the country.

The BoI Chairman was of the view that Pakistan and Japan were enjoying good relations. He, however, stressed the need for high level engagements to boost these relations.

He said that Pakistani mangoes, for the first time, would find place in the Japanese market where he said one mango would cost about Rs.3000.

He said that Pakistan would also take steps for attracting South Korean investments in the country and disclosed that President Zardari is scheduled to visit South Korea this year in this regard.-APP

Gas shortage pushing industry to the wall: LCCI

‘Politicians should focus on economy’

Staff Correspondent LAHORE: Criticising another 5-day gas suspension to industry in Punjab, the Lahore Chamber of Commerce and Industry Saturday said the decision will hit exports, productivity and government revenues hard, therefore, the Prime Minister should intervene and help ensure regular supply of gas.

In a statement issued here, the LCCI President Shahzad Ali Malik, Senior Vice President Sheikh Mohammad Arshad and Vice President Sohail Azhar said that the gas suspension plan would have a very negative impact on entire Industrial sector that was already passing through very challenging times due to acute shortage of electricity and bad of

Efficiency to business with Microsoft-Powered Infrastructure Staff Correspondent LAHORE: Ensuring a high level of satisfaction among customers and partners is a core component of business at Microsoft. Customer and Partner Experience (CPE) is a company-wide strategy to increase customer satisfaction and improve experiences with products, programs, and services. Through annual surveys and product feedback efforts like the Customer Experience Improvement Program, Microsoft continues to listen and respond to its customers and partners and is committed to improving their experiences..

22 Pak firms take part in Gulf food fair

MULTAN: Parliamentary Leader of MQM in National Assembly Dr. Farooq Sattar addressing a press conference at Multan Press Club. -Online

ISLAMABAD: Twenty two companies from Pakistan under the banner of Trade Development Authority of Pakistan will participate in the gulf food exhibition to be held in Dubai from Feb.27March 2.

Gulf food is the premium Food and Beverages and related products exhibition to be held at Dubai International Convention and Exhibition Centre. More than

law and order situation.

The LCCI office-bearers said that not only the exports and productions would nose-dive but the graph of unemployment would also go up as a large number of industrial units would be left with no other option but to close down their operations if gas suspension plan is not shelved.

How the industry would be able to manage export orders worth millions of dollars when there is no gas? What about the thousands of daily wagers who have a single source of income? And above all, they added, how the government would convince both the local and foreign investors for investment when it is unable to manage the supply of gas to existing industrial units.

KARACHI: The Vice President, Pakistan Federation of Chambers of Commerce and Industry (FPCCI), Khalid Tawab has urged upon the politicians to shun their differences and focus their attention to devise a 10-year long-term economic policy.

Addressing a dinner hosted by SGS Chief, Farrukh Mazhar in his honour, Khalid said that it is the high time to rescue dwindling economy of the country which may jeopardize the sovereignty of the country.

"The country is at the crossroads and the fast deteriorating economy may result in a big wave of unrest among the people and the rulers should learn a lesson from the ongoing turmoil in the Arab World", Khalid said adding that increasing law and order problems in the country -Online

2000 companies from more than 60 countries are participating in the exhibition.

Trade Development Authority of Pakistan (TDAP) has been participating in this exhibition for the last ten years. This year, the range of products on display varies from rice, pulses, spices, flour, salt, pickles, squashes, juices, frozen foods to related consumer products etc. -INP

Facilitating a greater alignment in partnership amongst the stakeholders, Microsoft powered a CIO Executive Dinner Discussion in collaboration with CIO Pakistan recently in Lahore.

Bringing together an audience of the CIOs, Senior IT Heads, General Managers for IT, the CFOs and the CEOs from various verticals on a common platform, the Executive Dinner Discussion aimed to rotate discussions that promote perspective-sharing on a more productive and a long-term relationship with Microsoft.

'It is however, important for the client to share

one's challenge and vision with Microsoft in order to strike the right fit which serves the purpose of having the CIO Executive Dinner Discussions,' commented Kamal Ahmed.

Expecting a positive outcome from the Executive Dinner Discussion, Country Manager to Microsoft, Kamal Ahmed, reassured Microsoft's willingness to work with the clients one-on-one to promote a better utilization of Microsoft solutions already sourced at many organizations.

The Microsoft sponsored event was moderated by the Editor-In-Chief to CIO Pakistan, Rabia Garib.

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Sunday, February 27, 2011

Mobile Prices Updated on 26 February, 2011

ALI ZHORAIZ JAFFRI

Nokia 1202 1203 1208 1209 1280 1616 1800 2220 Slide 2330 Classic 2600 Classic 2690 2700 Classic 2730 Classic 3600 slide 3610 Fold 5030 5130 5220 5230 5250 5233 5310 5320 5530 5630 5730 5800 6120 6220 Classic 6300 6303 6303i 6600 Slide 6600 Fold 6700 Classic 6720 Classic 6730 Classic 6760 Slide 7210 7230 7310 7510 7610 C1-00 C3 C5 E5 E52 E55 E63 E66 E71 E72 E75 N78 N79 N8 N82 N85 8GB N86 N97 N97 mini N900 X2 X3 X3 02 Touch and Type X6 16GB X6

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

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

8,700 16,800 9,600 8,800 7,700 9,700 13,200 19,000 18,200 43,500 25,600 9,400 8,200 12,700 14,800 15,600 16,100 21,400 14,500 12,800 30,800 17,300 18,700 38,700 33,000 47,000

Samsung B130 B220 Guru B300 B3210 CorbyTXT B3410 B3410W Chat WIFI B5722 B7300 OMNIALite B7320 Omnia PRO Guru B100 E1080 E1100 E1125 E2125 E250 D980 (Dual Sim) J150 J700 M150 M200 M620 M3510 Beat b M3710 Corby Beat M7500 Armani M7603 Beat DJ M8910 Pixon 12 C3010S C3053 C3200 Monte Bar C3212 C3303k Champ C3510 Genoa C5212 DUOS S3310 S3653 Corby S3653 WIFI Star S5230 S5230W Star WIFI S5350 Shark S5550 Shark 2 S5560 Marvel S5620 Monte S7220 Ultra b S7350 Ultra s S8003 Jet S8300 Tocco Ultar Edition S8500 Wave I900 Omnia i5700 Galaxy Spica i8000 Omnia II i8510 INNOV8 i8910 Omnia HD i9000 Galaxy S 16GB

2,050 3,900 3,600 8,700 9,500 13,400 15,400 24,000 19,200 2,450 2,200 2,450 3,200 6,050 5,200 20,300 6,550 7,550 5,100 6,200 6,250 9,200 12,700 30,300 32,000 40,600 5,700 6,000 6,900 7,300 7,600 8,800 9,800 7,900 10,600 10,800 11,000 12,300 12,000 14,500 15,600 15,500 21,000 22,100 24,000 28,200 29,900 42,500 25,000 49,500 37,000 43,700 49,000

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

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

QMobile Q3i E900

5,999 6,999

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

LG Optimus 2X review Will the world's first dual-core smartphone prove to be a power house?

T

his review is of an LG Optimus 2X unit supplied with pre-release software. In accordance with TechRadar's Reviews Guarantee, we have not included a final score for this review. This is our in-depth experience with the version of the phone supplied to us, tested as thoroughly as usual.

We knew it as the L G Star originally, and we waited impatiently for a chance to really put it through its paces. Now, the world's first Tegra 2 smartphone, the LG Optimus 2X, has arrived for our delectation, sporting Android 2.2.

Mobile World Congress has brought us news of more dual-

core smartphones to come, including the Samsung Galaxy S2, but it's not the same as having one in your pocket.

So what's a dual-core processor good for? Why video, of course! That'll be why LG has outfitted the Optimus 2X with 1080p video recording on the eightmegapixel camera, 1080p playback over a miniHDMI port (cable included) and DLNA media streaming.

Of course, we're also looking for it to make Android sing, showing what Google's OS is capable of on the Optimus 2X's four-inch WVGA touchscreen.

There's also a 1.3MP frontfacing camera, Wi-Fi and 3G connectivity, microSD card slot to compliment the 8GB of built-in memory.

The LG Optimus 2X should be on sale for around £500 SIM-free.

News Corp kicks off Myspace sale process

Computers Get In Touch with Your N Emotions

e w s Corp h a s kicked off the process to explore the sale or spinoff of its troubled social entertainment site, Myspace, a person familiar with the talks said on Thursday.

The media conglomerate has received early interest from around 20 parties so far and expects to receive more inquiries as the process develops in coming weeks. Reuters reported earlier this month that News Corp had tapped boutique investment bank Allen & Co to aid with the process.

News Corp executives and bankers from Allen & Co will start talking to interested parties in the second week of March the person said.

World's smallest PC can fit into your eyes

Samsung: S 3D movie streaming soon

S

amsung has revealed that 3D movies are set to come to its internet connected TVs in the UK this year, and PictureBox is looking to be the first service to offer 3D movie content through its ondemand app.

Samsung is no stranger to ondemand 3D movies. It recently partnered with Virgin Media to showcase the cable company's 3D offering but it has yet to pipe 3D films through its own app platform.

This is set to change this year, with Darren Petersen, Content Services Manager - Smart TV at Samsung, hinting to TechRadar that we will see something in 2011.

"We are hoping that 3D movies will be available [through Smart

Hub] later this year," said Petersen to TechRadar.

"The technology is there we are just waiting on our partners to come up with something."

3D streaming There is already 3D content on the Smart Hub in the US, with a number of apps offering 3D functionality – but there's no movies as of yet.

PictureBox, a newcomer to Samsung's Smart Hub, is hoping that it will be the first of the partnered movie apps to stream a 3D movie, with a spokesperson explaining: "We are looking to stream our first 3D movie in Q3, but there's still a lot to do technology-wise.

"We have to optimise the content for a number of different devices and this takes time."

cientists have created what they claim is the world's smallest computer system that is just one square millimetre in size and can fit into one's eyeball.

Developed by a team at the University of Michigan, the unnamed tiny device is a pressure monitor that can be implanted in a person's eye to treat glaucoma. It may be just one square millimetre in size but it packs a hefty punch, containing an ultra low-power microprocessor, a pressure sensor, memory and a thin film battery, the Daily Mail reported.

It also has a solar cell and a wireless radio with an antenna that can transmit data to an external reader device, the researchers said. The device is already being touted as the future of the computing industry, although it needs several more years to be commercially available.

Its creators -- Professors Dennis Sylvester, David Blaauw and David Wentzloff - claim that as the device's radio needs no tuning to find the right frequency it could link to a wireless network of computers.

Machines that respond to your emotional state could help you focus better on the task at hand.

Computers could be a lot more useful if they paid atten-

tion to how you felt. With the emergence of new tools that can measure a person's biological state, computer interfaces are starting to do exactly that: take users' feelings into account. So claim several speakers at Blur, a conference this week in Orlando, Florida, that focused on human-computer interaction.

Kay Stanney, owner of Design Interactive, an engineering and consulting firm that works with the Defense Advanced Research Projects Agency and the Office of Naval Research, says that a lot

of information about a user's mental and physiological state can be measured, and that this data can help computers cater to that user's needs.

Design Interactive is prototyping Next Generation Interactive Systems, or NexIS, a system that will place biological sensors on soldiers. If a sensor detects that a soldier's pulse is weakening, or determines another problem with her physical state, the system might call for help or administer adrenaline. Similar technology could prove useful in civilian conditions, Stanney says. For example, sensors on air traffic controllers or baggage screeners could help prevent errors or poor performance, she says.

Google to launch YouTube movie service in Britain

G

oogle's YouTube plans to launch an unlimited subscription service for movies, similar to Netflix and Amazon's offering, the New York Post said.

The search giant, which has been talking with

Hollywood studios for months, is looking to launch the streaming service first in Europe -- particularly the UK -- before expanding to the United States, the paper said citing executives briefed on the plan.

Google has earmarked $100 million for content deals with studios and other premium content providers in its plan to expand its offerings.

Google was not immediately available for comment.

Flying Off Into the Sunset Only two more launches are planned before the entire shuttle fleet is retired.

Smithsonian, leaving only the Endeavour and Atlantis to each fly once more, with the final mission coming in the summer

A

s dusk approached yesterday, the space shuttle Discovery blasted off. It was an appropriate time of day, as the entire shuttle program has entered its twilight hours.

When the Discovery returns after its elevenday mission, it will be mothballed and shipped off to the

of this year.

After that, NASA will have

to find other ways to get astronauts into space. NASA's had gaps in its spaceflight capabilities before, such as during 1975 to 1981, after the Apollo rockets and spacecraft were retired and before the shuttle started flying. But, unlike the late 1970's, NASA can't just choose to skip sending anyone into space -- today, people and supplies must be routinely sent to the International Space Station (ISS), currently operating with a crew of six in low Earth orbit.

Apple’s new MacBook Pro lineup Xbox Kinect: the future computer?

A pple Inc released its new lineup of MacBook Pro notebook computers, featuring Intel's peppy new processors and graphics chips made by Advanced Micro Devices, helping boost the smaller chipmaker's stock more than 5 percent.

The new MacBook Pros will be powered by Intel Corp's latest dual-core and quad-core chips, which were previously code-named Sandy Bridge and include integrated graphics processing.

More expensive versions of the MacBook Pro also include

graphics chips from Advanced Micro Devices for added performance. Graphics processors made by competitor Nvidia had been used in past versions of t h e MacBook Pro.

Nvidia.

News of AMD's presence in the new MacBook Pros helped boost its stock 5.5 percent to $9.02. " I t starts to show that the new A M D

Apple's trend-setting personal computers are a highprofile battleground for chipmakers Intel, AMD and

products have the potential to start to elevate their notebook share," said Cody Acree, an analyst at Williams Financial

Group.

Intel supplied the MacBook Pro with a faster, compact input/output technology called Thunderbolt, which supports high-resolution displays and devices through a single port.

The price of a 13-inch MacBook Pro, with a full-size keyboard, seven-hour battery life and an aluminum casing, will start at $1,199. The 15inch starts at $1,799 and the 17-inch is priced at $2,499.

Nvidia's shares were up 1.13 percent at $22.36 following a 13 percent sell-off over the past two days.

P

rosecutors have dropped their case against two men accused of pirating films online, in a blow to entertainment industry efforts to c u r b unlawful filesharing through the

courts.

George Cartledge, from Glasgow, and Stephen Lanning, f r o m Somerset, f a c e d charges of conspiracy to infringe copyright over their involvement in FileSoup, a website founded in 2003.

Latest Gadgets Sony Laptop Gets Beat With The Ugly Stick

GAEMS Gets a Reboot We brought you news of the original GAEMS Xbox case a while back because it was a cool idea with some flaws in the execution. There wasn’t any room for any of the peripherals needed for gaming and the case was a bit bland from a stylistic point of view. However, this new edition of the GAEMS case seems to have improved (if only marginally) on the original.

Fujitsu’s Stylistic Q550 slate computer Fujitsu has just announced its Stylistic Q550 slate PC around the world, where it offers executive class performance with high-security in mind to cater for the requirements of mobile enterprise computing. These slate PCs will arrive in a couple of months’ time.

Who says tech has to look cool? At least that’s what somebody at Sony said when they okayed the design for the new VAIO CA and CB models.

Sure they pack the Core i5 heat but they look like neon-clad rejects from Miami Vice.

VIA VID’s touch screen displays The company does more than just motherboards as you can tell from their new VID series of digital touchscreen displays that were specially designed for action in a wide range of modern interactive kiosks, POI and POS embedded systems, further extending VIA’s position as a total system and embedded component provider.

Inflatable Roof Rack If your ride is used to transport a whole lot of stuff, then you might be interested in picking up the Inflatable Roof Rack. This roof rack for your set of wheels is able to inflate within minutes, making it a snap to provide easy transportation of oversized loads. Of course, this looks a whole lot better than the unsightly permanent racks which require tools and time to install and remove, but we suppose there is always a risk of it being punctured – all in the name of convenience.

4 Sunday, February 27, 2011

The Financial Daily International Vol 4, Issue 192

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

Saudia to pump more oil T

he world can weather a spike in oil prices, U.S. President Honorary Advisory Board Barack Obama said, as Haseeb Khan, FCA S. Muneer Hussain Rizvi Saudi Arabia offered some respite to Asim Abbas Ashary, CPA fears over Middle East oil supplies Khurram Shehzad, CFA by indicating it can cover export cuts Akhtar M. Zaidi, FCA Prof. Zakaria Sajid (KU) resulting from Libya's civil war.

Dr. A. Hadi Shahid, FCA Zahid Bukhari SVP HBL (retd) After a surge in Brent oil prices to Muhammad Arif Ismat Sabir 2- year highs near $120 a barrel, Head office South Korea, the world's fifth111-C, Jami Commercial Street 11, Phase VII, DHA Karachi biggest crude importer, warned that Telephone: 92-21-35311893-6 Fax: 92-21-35388428 its inflation situation was getting URL: www.thefinancialdaily.com tougher.

Email Address: editor@thefinancialdaily.com Business executives fretted about Lahore office rising prices and investment banks 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 said oil was reaching an inflection Email Address: editor@thefinancialdaily.com point that could endanger the world's recovery from the global financial crisis.

"We actually think that we'll be able to ride out the Libya situation and it will stabilize," Obama, referring to fuel prices, told a group of corporate chief executives.

His Treasury Secretary said the world had plenty of oil reserves.

"We have substantial capacity across the major economies in the strategic reserves," Timothy Geithner said.

"Hopefully, by reminding people of that and calling attention to the fact that there's a fair amount of excess in parts of OPEC ... hopeAt a time when coalition government led by capacity fully that will make it less likely the PPP is facing multifarious problems, its partner market ... starts to build in higher in the biggest province Punjab, PML-N and prices over time." also the signatory of Charter of Democracy has The key risk for the world econodecided to part ways. While the war of words my is a sustained rise in the price of But after shooting up to close to among the members of both the parties has oil. $120 a barrel in intraday trade on already begun, Pakistan is likely to face a little Thursday, Brent crude futures ended

Turncoats attaining importance in politics

tricky situation. At present the country faces two most pressing issues i.e. release of two stuck up tranches by the International Monetary Fund and resolution of Raymond Davis case. Raymond saga is proving a big spoiler in US-Pakistan relationship, which is also likely to influence IMF decision.

In the prevailing scenario it seems that Mian Nawaz Sharif has decided to distance from the PPP to exert extra pressure at the time of revision of POL price due on March.1. When the government decided to increase POL price last time, the decision has to be withdrawn due to vehement opposition by PML-N as well as MQM. The likely hike this time will be even higher because crude oil prices are hovering around US$100 per barrel. On top of this petroleum development levy has reduced to nominal and if the government is forced not to increase POL prices a very huge subsidy will have to be paid. It seems certain that the IMF will oppose such a move, rather insist of introduction of RGST. This will allow PML-N to flex its muscles to the maximum.

However, one point which puzzles the political pundits is that despite enjoying substantial power Mian Saheb has been reluctant in moving no-confidence move in the national assembly. This confusion can be attributed to the fear that PPP may also move a no-confidence against chief minister Punjab, which Mian Saheb just can't afford to face. He has already sought help of those who deserted him during Pervez Musharraf rule, and they have also consented to extend him support. While Mian Saheb may have a bigger heart and even willing to pardon these turncoats, some of the opponents have already termed this understanding 'horse-trading' and references could be filed against these people for changing their loyalties.

One could still hear the eco of the statement made when PPP and PML-N signed Charter of Democracy. Many analysts had termed this alliance un-natural and 'selecting the lesser evil'. Both the parties succeeded in obtaining resignation from Pervez Musharraf but also reached the break up point within three years.

Whatever may emerge during the course of time but one point is very clear that turncoats are going to decide the fate of the present government, which will be very unfortunate. This reminds of those days when musical chair game was played between PPP and PML-N, both the parties forming government twice but also facing dismissal prematurely.

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.

the day at less than $112, showing just how fraught investors nerves are.

The sharp fall came after market rumours that Libyan leader Muammar Gaddafi had been shot dead and on news that top producer Saudi Arabia could cover any supply disruptions.

On Friday last, Brent crude was trading around $112. U.S. crude futures eased to $97.60 from a Thursday high of $103.41.

In Libya, forces loyal to Gaddafi hit back in fierce gun battles with rebels holding towns near the capital but there were no signs they had broken the opposition momentum.

The Organization of the Petroleum Exporting Countries (OPEC) has an estimated 4-6 million barrels per day of spare crude production capacity, more than enough on paper to cover Libya's output of 1.6 million barrels a day. But markets are worried that the unrest might spread to bigger producers in the region that would have a much bigger impact on the world economy.

After public uprisings have already toppled leaders in Egypt and Tunisia, governments in the region are taking notice.

Saudi Arabia this week unveiled a $37 billion package to try to insulate the kingdom from the wave of protests across the Arab world, while Algeria lifted a 19-year-old state of emergency as it tried to appease opposition groups.

"When you start adding the potential number of barrels at stake, you can see why the market is tense and

would rather be long oil than short," said Harry Tchilinguirian, chief commodity strategies at BNP in London.

INFLECTION POINT? Deutsche Bank said oil above $120 a barrel would be an inflection point for global economic growth. At that price, oil as a share of global GDP starts to move above 5.5 percent, historically a point where global growth has come under pressure.

Airlines are feeling the brunt of high oil prices as reflected in sharp falls in stock prices. Chinese flag carrier Air China Ltd has dropped 14 percent this week.

"Unfortunately, oil prices have been rising like mad recently," said Li Jiaxiang, head of the Civil Aviation Administration of China.

Emerging Asia, which led the world's recovery from the global financial crisis, is already trying to deal with escalating food prices.

Higher oil prices will add to the dilemma for policymakers of how to contain inflation and support economic growth.

Yet another complication is that while the crude price spikes this week reflect a supply-side risk, oil prices were already rising as economic activity around the world picked up pace.

"The global recovery is ongoing, it is gaining more traction but the developments in the crude-oil sector as a result of the turmoil in the Middle East is putting to question the strength of that recovery," said Jose Mario Cuyegkeng, economist at ING in Manila.

Since most countries have little control over the world price of oil, raising interest rates would not address the issue for their economies.

But higher fuel prices could feed through to other prices, such as transport, and inflation expectations.

"The environment influencing inflation is now much more difficult than what we had expected at the end of last year," said Yim Jong-yong, South Korea's vice finance minister.

Indonesian central bank deputy governor Hartadi A. Sarwono said he expects a recent drop in food and commodity prices to push monthly inflation down in the country, but oil was a risk.

"We have to be cautious on longterm inflation from rising oil prices," he told reporters.

The combination of high oil prices undermining growth while fuelling inflation raises the prospect of stagflation that blighted economies in the 1970s. Westpac rates strategist Russell Jones said there was a risk of stagflation but there were economic differences now -- including less reliance on oil and better central bank credibility -- to suggest any outbreak would be mild and short lived.

Still, it would still result in a pick up in the pace of monetary policy tightening, he said. "The longer that oil prices remain elevated, the more likely that the European Central Bank and Bank of England could hike in the second quarter. Emerging market central banks are also apt to tighten more aggressively. -Reuters

US crop boom not enough to rebuild thin supplies H

uge U.S. corn and soybean plantings this spring will likely fail to refill razor-thin stocks enough to quell the surge in grain prices, the U.S. Agriculture Department said on Thursday.

In updated forecasts for the world's biggest crop exporter, the USDA warned that it could take several years to restore inventories to comfortable levels. It mostly maintained earlier forecasts on how many acres farmers would sow this spring, but said stocks at the end of the 2012 season would remain tight.

The U.S. government's forecasts are likely to fuel more concern globally that high prices could persist far longer than they did in 2008 when they hit record highs, as supplies remain too thin to cope with any further weather disasters.

"While it is often said the cure for high prices is high prices, even with additional supplies expected this year, it is likely that the tight stocksto-use situation will not be entirely mitigated over the course of one or even two

growing seasons," USDA Chief Economist Joseph Glauber told the department's annual outlook conference last Thursday.

The planting forecasts were unchanged from the department's projections made earlier this month, when it projected 92 million acres of corn -the second largest since 1944 - and 78 million acres of soybeans, a record amount.

Analysts had expected the agency to trim both forecasts marginally.

LITTLE CUSHION IN US END STOCKS The greater surprise was in projections for tight ending stockpiles for 2011/12. While both corn and soybean ending stocks will be higher than this year's levels -- with corn forecast to be the smallest since 1996 and soybeans amounting to a few week's supply -- they suggest very little cushion for unexpected shortfalls.

"It should be bullish all around even though the USDA stuck to their higher estimates than I probably would have done," said Jack Scoville, analyst for Price Futures Group.

"It seems to me they're implying some very strong demand here because the ending stocks estimates remain pretty tight, really across the board," he added.

USDA said 2012 corn ending stocks would rise by 28 percent to a still-thin 865 million bushels, and soybeans stocks by 14 percent to 160 million bushels.

But USDA cut its outlook from a forecast made earlier this month for corn stocks by 23 percent and soybeans by 16 percent for 2012.

Contributing to the slim stocks will be soaring exports, which are expected to rise $9 billion this year to a record $135.5 billion.

"Today there are 7 billion mouths to feed and many of them depend on American agriculture," Debbie Stabenow, chairman of the Senate Agriculture Committee, told the USDA's annual outlook conference.

China will become America's top export market, surpassing Canada. China is seen importing 60 percent of the world's soybeans and 40 percent of its cotton this year.

While the tight stocks figures were bullish, grain futures at the Chicago Board of Trade fell on Thursday as investors continued to liquidate positions and seek safer havens on concerns over the turmoil in the Middle East.

Wheat fell 2 percent, corn nearly 1 percent while soybeans were only slightly lower.

CORN FOR ETHANOL AT RECORD HIGH Ethanol makers are expected to consume a record 5 billion bushels of corn this year, or some 36 percent of the harvest.

Despite criticism that using food for fuel was driving up prices and contributing to thin stockpiles, Agriculture Secretary Tom Vilsack told the conference the government had no intention of scaling back on ethanol.

"There is no reason for us to take the foot off the gas," Vilsack told the conference.

"This is a great opportunity for us because we can do it all, make no mistake about it."

Tight global commodity stockpiles have pushed food prices higher, contributing to

political unrest in countries with high poverty rates and unemployment.

Former U.S. President Bill Clinton struck a more cautionary tone on ethanol. "We have to become energy independent but we don't want to do it at the expense of food riots," Clinton said in the keynote address.

In the United States, food prices are forecast to rise a sharp 3.5 percent this year -nearly double the overall inflation rate.

"We're keeping an eye on this but I would suggest that as a result of what we went through in 2007 and 2008 we are better prepared to respond as a country and as a globe," Vilsack said.

But some analysts caution a bad crop in the United States would change everything.

"There are speculators involved... but we've had the perfect storm over the last two years, and if we don't have a great crop this year in the United States, we are going to have an even bigger storm." said Pete Nessler, president of the brokerage FCStone LLC.Reuters

Are oil price risks manageable?

O

il price gains to date do not pose a risk to the U.S. economy but they could prove nettlesome if they jump a lot higher or create an inflationary psychology, Richmond Federal Reserve Bank President Jeffrey Lacker has said.

"I think the oil price rises we've seen so far don't pose a risk to the recovery," he told reporters after a speech on regulation.

"Oil price changes could have the potential, if they were very large, for slowing the recovery, but we have a lot of experience and a lot of data on past instances, and I think it's a manageable risk," he added.

Lacker said that pass-through from higher food and energy prices into broader inflation is limited but that there is a danger that prices that consumers are keenly aware of -- such as what they pay for gasoline -- could spur fears of wider inflation, which ultimately could push prices up.

"There's a risk that the high visibility of gasoline and food price increases would pose a little more risk for

inflation dynamics this time than in the past," he said.

A rise in inflation expectations can be self-fulfilling if it leads businesses to raise prices and workers to demand higher wages. However, with the U.S. unemployment rate at 9 percent, many Federal officials do not see much scope for wage increases.

Yellen said she did not intend to provide any new information about the outlook for the economy or monetary policy in her speech.

Lacker, who is not a voter on the Fed's interest-rate setting panel this year, is known as one of the staunchest skeptics of the Fed's easymoney policies. His comments illustrate a likely course of debate at the Fed's meeting in mid-March over whether the biggest risk to the economy is a setback to the recovery or a surge in inflation.

Some Fed policymakers have suggested it might be time to reduce or taper off their $600 billion bond buying program in light of a strengthening recovery, but others feel higher oil

prices could create headwinds to the recovery.

Oil prices retreated from 2-1/2-year peaks of almost $120 a barrel hit in London on Thursday to hover below $112 on Friday on Saudi efforts to plug supply gaps. However, turmoil in the Middle East and Northern Africa has added to worries about higher fuel prices and inflation risks around the world.

Another senior Fed official, Vice Chair Janet Yellen, said the Fed's long-term commitment to loose financial conditions will shift when the time comes for the central bank to withdraw its support for the U.S. economy.

"Once the recovery is well established and the appropriate time for beginning to firm the stance of policy appears to be drawing near, the (Fed) will naturally need to adjust its 'extended period' guidance and develop an alternative communications strategy," she told the Booth School conference.

Yellen said she did not intend to pro-

vide any new information about the outlook for the economy or monetary policy in her speech.

Lacker also said stress tests for banks come at a cost but are valuable for preventing financial panics.

"Quantifying the risks at large financial institutions is a complex and costly process that is vulnerable to manipulation," he said at the event sponsored by the University of Chicago's Booth School of Business.

"A disciplined and well organized supervisory process for validating those assessments strikes me as well worth the costs," he added.

However, Lacker said one of the outcomes of stress tests conducted in 2009 was to expand the level of bank liabilities under implicit government guarantee.

Lacker was defending the stress tests against a paper presented at the conference that argued the 2009-2010 stress tests in the United States and Europe have not brought about sufficient improvements in financial conditions.-Reuters

5

Sunday, February 27, 2011

Can money motivate weight loss? Perhaps O

bese people may be more likely to slim down if they have money riding on their success through financial incentives -- but the weight might creep back once the monetary carrot is gone, according to a US study.

A program in which people stood to lose cash if they failed to lose weight appeared to motivate them, but the motivation didn't last, the study -published in the Journal of General Internal Medicine -- found.

All participants received weight loss counseling, but some also signed a "deposit contract," where the funds they deposited in an account were matched and awarded to them at the end of a certain period of time if they achieved their weight loss goals.

If they failed to hit their goal, they lost the money.

People with the "deposit contract" lost an average of nine pounds (4.1 kg) over eight months, while the participants with no money to lose lost only one pound.

"Financial incentives produced significant weight loss over an eightmonth intervention," wrote Leslie John at Carnegie Mellon University in Pittsburgh, Pennsylvania, who led the study.

"However, participants regained weight postintervention."

For the study, John and her colleagues randomly assigned 66 adults with BMIs -- body mass indexes -- of 30 to 40, mostly men, to either have a

counseling session with a dietician plus monthly weigh-ins, or the same program plus the deposit contract.

BMI is a measure of weight for height. Obese is classified as 30 and above.

Under the contract, participants could deposit up to $3 per day in an account that the researchers matched dollar-for-dollar. If at the end of the month, they had reached their weight-loss goal -up to one pound per week -- they could claim the money.

John said the reasoning behind an incentive program is that people respond more readily to the immediate threat of losing money compared to the distant threat of weight-related health problems.

In the study, the threat of losing money did seem to push people to lose more weight. But only 7 of the 66 actually met the study goal of shedding one pound per week over the first 24 weeks of the eight months.

And nine months after the program ended, the financialincentive group had gained back most of the weight.

Other studies have also suggested incentives may work, John said. Last year, a different research team reported that giving free prepared meals as part of a structured weight loss program helped obese people lose weight.

John said more research is needed to see if the initial success of the plan can be extended. In the real world, money for weight loss could be offered by insurance plans.

"Obesity is hugely costly to insurance companies, so they have financial incentives to look at this," she said, noting that incentives are only really effective in the short- and medium-term.

"I think we still need to show that the weight loss can be maintained," she added.-Reuters

What's the best Stressed? You're drink of all? heading to disaster A P

eople often say that it is difficult to drink enough fluids throughout the day as most of them do not want to interrupt their work by getting up to fill their bottle. Then there are those who, simply forget to drink water!

But, here, what most of them tend to forget is that our body is comprised of 50 to 60 per cent of water and needs to be replenished on a daily basis. Generally, eight glasses of fluids per day is recommended b y medicos but this varies greatly according to the exercise level and diet that the individual follows.

A n d then, of course, there are those who insist on gulping down a lot of water just to meet the eight glasses per day guideline. For them, it is important to sip fluids slowly throughout the day to maximise the absorption.

Beverages to drink Water: One should either drink warm water or water at room temperature. If you have existing digestive problems, cold water can just make it worse.Make sure that you use a good water purifier.

Squeeze lemon, wedges into your water for a good flavour.

Herbal teas: Caffeine-free herbal teas are an excellent form of fluids.

Peppermint, chamomile, and caraway in particular improve digestion and reduce bloating. You can also go for green tea.

Vegetable juice: Vegetable juices are a great way of getting your

daily dose of vegetables and fluids.

Avoid canned juices and vegetable cocktails that contain high levels of salt. Celery, wheatgrass, cucumber, fennel, parsley, and other nonstarchy vegetables are some excellent choices. Carrots tend to be sweet, so be sure to drink carrot juice in moderation. If you enjoy the taste of vegetable juice, a home juicer is essential for you.

Smoothies: A smoothie, made of a combination of fresh or frozen fruits, a scoop of protein powder and skim milk, is a great way to start the day. If you are used to coffee or somet h i n g sweet in the morning, you may find that a power smoothie gives you more sustained energy.

Fruit juices: In general, it is better to eat fruit than drink it. In liquid form, the sugar in the fruit juice is absorbed into the bloodstream relatively quickly. So, it is better to try diluting fruit juice with water - one part unsweetened fruit juice to one to three parts of water. Choose fruits that are not high in sugar content.

Decaffeinated coffee: Coffee as a rule isn't the best drink and can dehydrate you. If you like to drink decaf, make sure that it is water processed. And use a small amount of milk if necessary, but keep minimum sugar, honey or artificial sweeteners in the coffee. Drink water after to keep yourself hydrated.

n increasing number of youngsters are suffering from heart problems A blood pressure reading of 120/80 is considered normal, anything higher than this is either pre-hypertension or hypertension. Persons with abnormal pressure are at an increased risk of complications on a long term basis.

Hypertension is largely without symptoms for the first 15 to 20 years even as it progressively damages the vascular system and end organs.

It is increasingly being detected in the young population although the definitive cause of primary or essential hypertension remains unknown. It is now generally believed that both genes and environment as well their interactions play important roles. Up to 40 per cent of young hypertensives have a family history of hypertension.

Urban lifestyle today includes odd hours at office especially nightshift jobs and associated lack of or inadequate sleep, unhealthy eating habits, junk foods, high salt containing canned foods, fatty foods lead to overweight or obesity, all which lead to hypertension.

Other important reasons for hypertension in the young include substance abuse including cigarette smoking, cocaine addiction, alcohol consumption and its after effects especially lack of sound sleep. Rapid and unplanned urbanisation has added to the stress levels of young individuals, competition for suitable jobs, high real estate prices leads to difficulty in finding suitable accommodation, pollution and its unmonitored side effects.

S i d e effects o f

urban lifestyle today include lack of exercise due to work pressure leading to an increased risk of diabetes mellitus due to stress, obesity, lack of sunlight (low vitamin D levels) neighbourhood pollutants (garbage burning pollution carries an increased risk of diabetes hypertension and cancer) and psychosocial problems in the young.

Rare causes of hypertension include vascular problems like coarctation of aorta, renal artery stenosis (fibro muscular dysplasia in young women), endocrine disorders etc, which need urgent expert evaluation.

Most causes are correctable and treatment options are plenty. One only needs to seek the right advice.

Consulting a cardiologist for proper drug therapy is the best option.

Correctible causes can be treated with angioplasty and stenting for renal artery stenosis and coarcptation (blockage in the aorta) and drug therapy for endocrine abnormalities.

Non- pharmacological treatments like exercise, weight loss and diet control often go hand in hand with drug therapy.

Adopting lifestyle changes...

Regular monitored exercise, outdoor games, regular doses of Vitamin D through sunbathing, a high fibre diet with lots of fruits and vegetables, quitting smoking, low alcohol intake, a good nights sleep, healthy and compatible married life, identifying family history as a cause and seeking expert cardiologists opinion, regular food habits, identifying and treating diabetes and avoiding weight gain will help you stay healthy.

Hot flashes, night sweats tied to heart risks

W

omen who have hot flashes and night sweats at the start of menopause may be less likely to have a heart attack later in life, US researchers said.

But women who develop these symptoms later in menopause may have higher heart disease risks, the team reported in the journal Menopause.

"Our study provides reassurance that the classic symptoms of early menopause, experienced by the majority of women at mid-life, are not a marker of an increased risk of heart attack or stroke in the future," Dr. JoAnn Manson of Brigham and Women's Hospital, who worked on the study, said in a statement.

The findings come from a new analysis of the large clinical trial called the Women's Health Initiative in 2002 that showed hormone replacement therapy raised the risk of breast and ovarian cancers and strokes in older women, and doctors now prescribe it sparingly.

Mason and colleagues found that women with hot flashes or night sweats at the start of menopause were no more likely to have a heart attack, stroke or to die during the study period than women who did not have these symptoms.

And there was some suggestion that night sweats and hot flashes reduced those risks. For example, women with early hot flashes and night sweats had a 17 percent lower risk of stroke, an 11 percent lower risk of heart disease and an 11 percent lower risk of death during the study period from any cause.

Women who developed hot flashes or night sweats later on in menopause, however, had a 32 percent higher risk of heart attack and a 29 percent higher risk of death compared with women who got these symptoms early on.

About three out of four menopausal women experience hot flashes or night sweats early in menopause, the team said.-Reuters

Older smokers at risk of impaired memory

O

lder smokers are likely to damage their grey matter and lose cognitive functions at a greater rate than non-smokers.

Cognitive functions involve thought, memory and information processes enabling us to learn new things and comprehend what is being said.

The study led by Osvaldo Almeida, research director of T h e University of Western Australia, found that chronic older smokers experienced a marked reduction of grey matter in certain brain regions, reports the journal NeuroImage.

"One finding that is really important from a health point of view is that chronic smokers who quit during the study lost less brain cells

and retained better intellectual function than those who continued to smoke," according to Western Australia release.

"Over a two-year period smokers who had discontinued smoking showed similar rates of memory decline to people who n e v e r smoked," Almeida said.

The study involved 332 communityliving people who were aged 68 or m o r e .

Chronic smokers were classified as consuming more than five cigarettes daily for the last 12 months.

The smokers completed a diary and all volunteers were given medical and cognitive function assessments at six, 12 and 24 months after commencement.

Two doses of chickenpox vaccine beat one K

ids are less likely to get chickenpox if they get two doses of the chickenpox vaccine instead of just one, suggests a new study.

Most infected people simply feel miserable -- with symptoms including an itchy, blister-like rash, fever, headache and fatigue -- but some do develop serious complications.

While routine vaccination has made a big dent in the number of chickenpox cases in the US over the past 15 years, it doesn't offer perfect protection -- either because the vaccine didn't work the first time, or because its effects can eventually wear off.

Seeking to solve that problem, the US Centers for Disease Control and Prevention (CDC) and the American Academy of Pediatrics (AAP) in 2006 recommended a second dose of the vaccine for kids ages 4 to 6. The first dose is typically given at 12 to

18 months of age.

"Despite the reasonably (high) effectiveness of one dose of the vaccine, there were still outbreaks in schools and daycare centers -- even though there was a pretty good rate of vaccination," Dr. Eugene Shapiro, the study's lead author from the Yale University School of Medicine in New Haven, Connecticut, told Reuters Health.

In the current study, published in The Journal of Infectious Diseases, Shapiro and his colleagues tested the effectiveness of adding the second dose by comparing kids with chickenpox and kids without chickenpox to see how many doses of the vaccine both had received.

Starting right after the CDC updated its recommendation through the beginning of 2010, Shapiro and colleagues found 71 infected children age 4 and up from local pediatricians' offices.

For each of those kids, the researchers found two others who were the same age and saw pediatricians from the same practice.

Then they reviewed their medical records for vaccinations.

Of the 71 patients with chickenpox, none had gotten two doses of the vaccine. Sixty-six of them had received one dose, while five hadn't been vaccinated at all.

Out of the 140 kids who had never had chickenpox, 22 of them had been vaccinated twice, 117 once, and only one had never gotten the vaccine.

Based on those findings, the authors calculated that one dose of the vaccine protected 86 percent of kids, while

two doses were 98 percent effective.

Although the study was relatively small and didn't directly compare outcomes for kids who had gotten none, one, or two doses of the vaccine, doctors are still optimistic about the results.

"We are now in the second period of (chickenpox) control," an editorial in the journal notes, "and version 2.0 looks promising indeed."

"For most children, one dose (is) enough," said Dr. Margaret Fisher, who was on the AAP committee that recommended adding the extra vaccine dose. "But to really stop the breakthrough cases, we need to add that second dose. I'm delighted now that we have a study

that shows that it works."

Two of the study's authors have financial ties to Merck, the company that sells the vaccine. One dose costs about $80.

The chickenpox vaccine sometimes causes soreness or swelling, a fever, or a mild rash, and very rarely more serious reactions. According to the CDC, side effects are more common after the first dose of the vaccine than after the second dose.

Although kids who get chickenpox after receiving a single dose generally have a milder version of the virus than kids who haven't been vaccinated, they can still spread chickenpox to others. And, Shapiro said, those kids may also be at a higher risk of getting shingles, a painful rash that is caused by the same virus as chickenpox, later down the road.

"The recommendation for a second dose ... certainly carries the direct cost of additional vaccine doses,"

Sarah Clark, of the Child Health Evaluation & Research Unit at the University of Michigan, told Reuters Health in an email.

"But (the vaccine) may be helpful in reducing some of these other costs that are incurred because of breakthrough cases," she added.

Shapiro said that despite the study's convincing results, no one can be sure how the effectiveness of the second dose of the vaccine will hold up many years after vaccination.

When he and his colleagues completed their research, Shapiro said, "It was only three and a half years since the new recommendation was made. It remains to be seen what will happen over the long term."

Both Shapiro and Fisher said the take-away message from the study was that parents should make sure their children get a second dose of the vaccine, if they haven't received it already.-Reuters

International

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OIL SPIKE TO HIT WEST HARDER THAN EMERGING ECONOMIES * EMERGING MARKETS BETTER PLACED TO COPE WITH OIL SURGE * WHILE WEST FRETS ABOUT GROWTH HIT, INFLATION WORRIES ASIA

N

o two oil shocks are alike, but the chances are that emerging economies could suffer a little less than the developed world if the latest price surge to 29-month highs is sustained.

Yet this would not be another illustration of how developing countries are decoupling from the West, for slower growth in the rich world would eventually rebound on emerging nations.

Only oil exporters are unambiguous winners -- for a while, at least -- from the redistribution of income set in motion by a spike in oil like the one this week, which was triggered by fears that unrest in Libya will disrupt supplies.

"Emerging markets will be hit, but they have deep enough pockets to still afford the cushion of subsidies," said Alicia Garcia-Herrero, chief emerging markets economist for Spanish bank BBVA. That option is not open to most advanced economies, which have started to tighten fiscal policy to reduce budget deficits that ballooned during the worst economic crisis in 80 years.

"The last thing you want now is an oil shock," Hong Kong-based Garcia-Herrero said. "In the developed world, this additional shock will basically delay the recovery even further."

Among big emerging economies,

she said only Mexico, Russia and, to a lesser extent, Brazil, stood to benefit from dearer oil. Latin America would, generally speaking, get off more lightly than Asia, Garcia-Herrero added.

TERMS OF TRADE A rise in crude causes a deterioration in an oil-importing country's terms of trade: it has to pay more for a given amount of imports than it gets for the same volume of exports.

This eats into national income and translates into reduced consumption, narrower profit margins and higher inflation.

Central banks in advanced economies typically look past a rise in oil prices when setting monetary policy because, while it brings about a temporary change in the price level, it does not usually trigger an inflationary cycle across the economy.

That's why G3 central banks -- in the United States, the euro zone and Japan -- fret more about the impact that a worsening of the terms of trade has on growth than on inflation, said Richard Jerram, chief non-Japan Asia economist at Macquarie.

"But emerging economies tend to be more prone to second-round effects, especially when the domestic economy is pretty tight already and there's clearly a

greater risk of a domestic price effect," Jerram said.

So whereas the Fed would positively welcome a modest inflationary jolt, central bankers in emerging economies already struggling to cap price pressures are in for sleepless nights.

"G3 is worried about the hit to growth and emerging Asia is worried about the hit to inflation because it's recovered already. So you suffer, but you suffer in a different way," Jerram said.

FEEDBACK LOOPS Central banks across Asia were tightening policy too slowly for the taste of many analysts even before turmoil in North Africa sent oil prices through the roof.

"This is going to be a further blow because the second-round effects are going to be massive," Garcia-Herrero said. "I don't think central banks realise that this might not be just a short-term supply shock, so they should move fast."

The danger is that without prompt action in Asia to curb booming demand -- either by cutting subsidies, loosening price controls or tightening monetary and fiscal policy -- oil prices might not quickly reverse, according to economists at HSBC. That would not only entrench inflation in the region, but, in an

illustration of the proliferating feedback loops in the global economy, cause trouble elsewhere, especially in advanced markets.

"As Asia fiddles and delays the rise in petroleum costs, it continues to consume oil voraciously, putting further upward pressure on global crude prices. Meanwhile, others take the heat," HSBC economists Frederic Neumann and

Sherman Chan said in a report.

They said there was no need for Asia to panic over this week's spike in oil because growth in the region was not as sensitive to crude prices as other parts of the world.

But Asia's exporters would ultimately suffer if dear oil sapped consumer spending in the West.

And, echoing the views of others, they said the knock-on effects of higher oil prices was bound to be

several times larger in the East than in the West.

"Don't bet though that central banks will take this as a cue for imminent hikes. The risk, rather, is that they shrug off higher oil prices as self-correcting. That would be a mistake. One, in fact, that was already made in the 1970s. let's not go back there," Neumann and Chan wrote. Reuters

Arab Revolts Stir Passions In Venezuela * Opponents slam Chavez for his close ties to Gaddafi * Chavez has said little about Libya revolt * No signs yet of similar rebellion in Venezuela

V

enezuela's usually loquacious leader HugoChavez has been uncharacteristically quiet on the unfolding revolt in Libyaagainst his close friend and ally Muammar Gaddafi.

Usually quick to opine on any global crisis, Chavez has Tweeted once but otherwise barely mentioned the uprising against a man he in the past showered with gifts, awards and garrulous praise as a fellow socialist revolutionary.

Some opponents see the Venezuelan president's attitude as evidence of nerves the wave of protests against authoritarian rulers in North Africa and the Middle East could extend as far as Latin America -- and threaten his own 12-year rule.

Yet there is scant evidence on the ground of a nascent mass resistance movement. On the contrary, the opposition is calmly preparing forprimaries at the end of the year ahead of a 2012 presidential election in the South American nation.

Chavez officials are not panicking, though they did move with surprising pragmatism this week to negotiate with student hunger-strikers and grant them concessions rather than let a three-week protest snowball into anything bigger.

And though his ratings have been in decline, the OPEC member's economy is in serious straits, and opponents portray him as increasingly dictatorial, Chavez remains Venezuela's single most popular politician by far.

"I do not see the crisis in the Middle East transferring to Venezuela in the short-term.

The conditions are not there at the moment," said Venezuelananalyst Diego Moya-Ocampos, of the international think-tank IHS Global Insight. Rather than a domino effect from the Arab unrest, next year's presidential vote looms as Venezuela's potential flashpoint, analysts and diplomats say.

If an increasingly confident

opposition, which won half of the popular vote in last year's parliamentary poll, considers it has been cheated, it could try to revive the kind of street protests that helped produce a bloody 48-hour coup against Chavez in 2002.

The trauma of 2002 left scars and lessons on all sides: Chavez radicalized afterward and vowed never to expose himself again like that, the opposition's political immaturity was revealed, and the military was shown to be the crucial factor first in the president's departure and then his return. In another scenario, if Chavez loses the 2012 vote, he might resist leaving power.

"I see the election as more of a threat to stability in Venezuela than Libyaand Egypt," a Caracas-based diplomat said. "But we have to be honest -- all of us failed to predict the fall of communism and now the fall of the Arab dictators, so we are in the realm of the unpredictable here."

Just as the West has faced a dilemma over the Middle East -- caught between support for the clamor for democracy on the street and decades-old alliances with autocratic Arab leaders for the sake of stability -- so doesChavez face a paradox. The 56-year-old ex-soldier, who led a failed coup attempt before winning power at the ballot box in 1998, has cast himself as a champion of popular movements but also a stalwart friend of Arab leaders, especially Gaddafi.

Chavez actually broke his silence on Libya late on Thursday with a brief message via Twitter, declaring: "Long live Libya and its Independence! Gaddafi faces a civil war!!"

His foreign minister, Nicolas Maduro, also chose his words carefully, calling for an end to violence and echoing an accusation by Cuba's Fidel Castrothat the United States was trying to create conditions to justify an invasion of Libya.

"The main objective of the Libyan invasion is the same Bush had - oil. To take its oil, leave Libya in 20 pieces and deprive OPEC of one of its main places," he said, referring to former U.S. leader George W. Bush's war inIraq.

Arab TV stations have reported rumors that Gaddafi and his family could take asylum in Venezuela, prompting denials in both countries but outraging Chavez opponents here who say his friendship with the Libyan is an international embarrassment.

"It's shameful for Venezuela that he holds the sword and order of our 'Liberator'," opposition newspaper TalCual said in an editorial on Friday, referring to Chavez's gift to Gaddafi of a replica of independence hero Simon Bolivar's sword.

"It's a dishonor to us that Venezuela's name is tainted abroad by being named as his natural place of refuge."

Footage of Chavez's presentation of the sword to Gaddafi

in 2009 is flying round opposition cyber-circles in a bid to make the Venezuelan squirm and taint him by association.

Although Chavez shows plenty of authoritarian traits, from endless daily speeches and legal pursuits of opponents to surprise nationalizations announced live on TV and a one-man style of leadership, more direct comparisons with the Arab strongmen may be a push, analysts say.

He has, after all, won about a dozen elections in Venezuela and still commands way more support than any of his wouldbe rivals at next year's election.

Supporters argue Venezuela's revolution already came whenChavez took office in 1990 and swept away an old elite that cared nothing about the poor. Venezuelans on all sides are fanatic users of social media, with no overt government moves against Internet access despite opposition claims that the government has Cuban advisers showing it how to cut off or

restrict the Internet if and when needed. If Middle East events are obviously awkward for Chavez, there is one reason for him to smile -- the price of oil.

With Venezuela's economy wholly dependent on crude exports, and struggling despite the pre-unrest spike in prices, the latest hike above $100 a barrel could help ensure at least a small recovery after two years of recession.

It will also bolster Chavez's election war-chest.

Royal Bank of Scotland analysts Siobhan Morden and Raza Agha said higher oil revenues would provide a "nearterm buffer" for Chavez. "This could actually reduce the political risk with more revenues available for social-oriented transfers and spending," they said in a report.

"While the domino continues in the Middle East with social unrest unraveling autocratic regimes, there are yet no signs of contagion toVenezuela." Reuters

Putin Petrol Price Crackdown To Boost Exports

R

ussian oil firms, knowing better than to challenge Prime Minister Vladimir Putin in a pre-election year, have knuckled under his crusade to restrain pump prices in a move that is likely to stimulate exports.

Putin railed against high petrol station prices at a meeting in St Petersburgearlier this month, and within an hour attendants at major oil producers'retail chains were out on their ladders, knocking the roubles off the price boards.

"We had to dramatically drop diesel and gasoline, but the oil price didn't fall, did it? Demand didn't fall," the head of domestic pricing at one of the top five Russian oil companies told Reuters.

"This kind of meddling is not based on market economics, and it will only result in us wrapping up all the pumps and sending

everything to export," she said, referring to the Soviet practice of wrapping the hose around the pump to signal no gasoline was available.

Putin rebuked what he called speculative pricing and demanded more antimonopoly probes, putting a swift end to months of soaring diesel prices, which hit record highs this month and, unusually, surpassed the price of gasoline.

The verbal intervention also marked the beginning of the traditional, pre-election year of the motorist, when producers seek to pacify the government and drivers by restraining fuel prices and make up for foregone profit by ramping up exports.

"The companies got the signal and have no choice but to agree to the wishes of the leadership. They are going to be very careful working on the domestic

market this year," said Denis Borisov, an oil analyst at Bank ofMoscow.

Borisov said that in the short term, pressure to keep prices down will prompt producers to send more diesel and petrol to Europe but that after export duties on products and crude oil are adjusted later this spring, more crude could be exported.

Russia, the world's largest oil producer, is expected to change its oil tax regime in April, which could also tip the scales in favour of more exports.

The Energy Ministry proposing to lower the crude export duty by around 7 percent at the expense of higher oil product duties.

"It's the pre-election year, and during this period the government tries to exert more strict control over prices," said Valery Nesterov, an energyanalyst

at Troika Dialog. "With prices protected, the pressure will be on exporting more crude oil."

FEAR AND FORCE Before Putin's broadside caused companies to slash prices, average domestic winter diesel prices in Russia rose by around 55 percent to 29,000 roubles per tonne between September and February.

A delayed ramp-up in production of the key winter fuel led to panic buying by wholesalers to insure against a deficit.

Meanwhile, gasoline prices, which typically dip between November and January when fewer cars are on the roads, rose as producers held back the light fuel from the market and stored it to avoid a higher excise tax that took effect on Jan. 1.

Putin's threat to set Russia's antitrust watchdog on the oil majors in the run-

up to parliamentary elections in December and presidential polls in spring of 2012 was not unexpected.

Ahead of the 2007-08 election season, government officials and lawmakers extracted voter-friendly agreements from oil producers to restrain prices at the pump.

"In Russia, the only real, actual instrument of dialogue in power and business is fear and force. Until this is applied, speculative monopolists can do what they want," said the head of Russia's long-haul truckers union,Valery Voitko.

Russia's domestic fuel market is not regulated, but the Federal Antimonopoly Service, which has already fined Russian majors Rosneft, LUKOIL, Gazprom Neft and TNK-BP for breaching competition law, is working on a fixed pricing scheme to prevent future

spikes.

EXPORT ALTERNATIVE Russia produces over 10 million barrels of crude per day and exports around half of that amount. The other half is refined into different fuels for either domestic consumption or export.

Just how much crude or product is exported depends on the relationship between export netbacks -- the price earned on foreign markets after subtracting shipping costs and taxes -- and domestic prices, as well as seasonal factors.

Spring and summer demand from drivers and farmers tends to increase domestic premiums for gasoline and diesel, squeezing exports, while in winter lower demand and narrowing domestic premiums tend to push greater volumes abroad.

In January record-high domestic prices encouraged

refiners to process 11 percent more diesel and gasoline for domestic use than a year ago, but Putin's crackdown has crushed prices and suddenly made exports economic.

Export netbacks for summer diesel out of Bashneft's Ufa refinery have risen to 24,265 roubles ($838.90) per tonne this month. They started February at a discount to domestic prices, but have since climbed to a steep premium of 2,665 roubles.

For the past two years, domestic diesel prices from Ufa have priced at an average premium to the netback of over 560 roubles.

"Price formulation is now taking place completely outside market factors, and if Russia can't pay market prices, we'll swing all we can over to export," said the head of products pricing at a state-controlled oil company. -Reuters

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Sunday, February 27, 2011

Avastin study threatens one in the eye for Roche LAHORE: Punjab Governor Sardar Latif Khosa offering dua after inaugurating the new academic block of Institute of Pharmaceutical Sciences.-APP

Samsung announces move into biomedical business SEOUL: South Korea's biggest business group Samsung announced plans Friday for a $266 million pharmaceutical joint venture, as part of a ten-year multi-billion dollar attempt to develop new growth engines.

Samsung said work would start in the first half of this year on a biopharmaceutical production plant at Songdo International City, part of the Incheon Free Economic Zone west of

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Seoul.

It said in a statement that production of drugs for cancer and arthritis patients was expected to start in the first half of 2013.

Samsung Electronics and Samsung Everland would each own 40 percent of the joint venture, Samsung C and T would have 10 percent and US-based pharmaceutical multinational Quintiles would own the remaining 10 percent.

Samsung, which accounts for 20 percent of the coun-

Continued from page 8

Abdullah unveiled on Wednesday upon his return after spending three months abroad for medical treatment.

Awwamiya was the scene of protests for weeks in 2009 after police launched a search for Shi'ite preacher Nimr al-Nimr, who suggested in a sermon that Shi'ites could one day seek their own separate state.

The secessionist threat, which analysts say was unprecedented since the 1979 Iranian revolution provoked anti-government protests, followed clashes between the Sunni religious police and Shi'ite pilgrims near the tomb of Prophet Mohammad in the Muslim holy city of Medina.

Since then Saudi Shi'ites say the situation has calmed down but they are still waiting for promised reforms to be carried out.

Officials say Shi'ites make up 10 per cent of the Saudi population, although diplomats put it closer to 15 per cent. -Reuters

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liberation after Iraq invaded the tiny oil-rich emirate in August 1990 and was liberated with the help of an international coalition.

The parade was led by a contingent of Kuwait armed forces, carrying national flags of the countries that were part of the international coalition.

The military parade showcased the marching battalions of Kuwait's armed forces as well as those from friendly countries including Saudi Arabia, Oman, France, Qatar, United Arab Emirates and the Arabian Peninsula Shield Forces.

Troops from the countries which had taken part in the international coalition in fighting alongside the Kuwaitis to liberate the country from Iraq in 1991, marched together in a show of solidarity and unity.

It was followed by units of Mechanized Infantry, Tanks, Armored Personnel Carriers carrying national flags of respective countries. The aircrafts that participated in the fly past included Puma, Apache helicopters, F-16 and Mirage fighter aircraft, besides C-130 and Air Borne Warning and Control System.

The air show with a spectacular aerobatics performance, received thunderous applause from the leaders and the crowd. The aircraft drew the colors of the Kuwait flag as they flew in different formations.

The world's longest flag was unfurled on the occasion by displaying the 2,000 meter-long national banner before the world leaders.

The whole Kuwait city seemed beautifully draped in greens and reds corresponding to the shades of national flag. At night, the capital glowed with streams of white LEDs (Light Emitting Diodes), which the authorities said promoted the green image of an enlightened nation which preserved its resources even during festivities.

Kuwait also made it to the Guinness Book of World Records by releasing 5,000 doves, matching the number of its independence days.

As part of celebrations, Kuwait's Amir Sheikh Sabah Al-Ahmad Al-Sabah announced grant of 1,000 dinars ($3,580) to each Kuwaiti citizen plus free distribution of essential food items for 14 months. -Agencies

try's exports, in May last year announced plans to invest 23 trillion won in healthcare and green energy over the next decade.

Some 2.1 trillion of the total was earmarked for biopharmaceuticals and Friday's announcement signalled the first major step in those plans.

Samsung said it would initially be engaged in contract manufacturing but planned in the longer term to develop its own products.-APP

Wyeth Pak declares 100 per cent dividend KARACHI: Wyeth Pakistan has posted a profit after tax of Rs 26.459 million for the year ending Dec 31, 2011 and declared a cash dividend of Rs 10 per share.

According to financial results of the company despatched to Karachi Stock Exchange, the pre-tax profit was estimated at Rs 43.229 million for the period under review as against a loss before tax of Rs31.593 in 2009.

The earning per share stood at Rs 18.61 in 2010 compared to loss per share of Rs 61.09 last year.-APP

hails from Virginia and has been associated with a private firm Catalyst Services which rents buildings for US citizens in the area.

According to reports, his visa had expired on October 22 last year. He had applied for its extension, but his application was rejected.

Haven, who married a local girl, claims to have embraced Islam.

His Muslim name is Haroon. He was living in Falcon Colony near Tehkal.

There were unconfirmed reports that police had found some important documents in his possession. -Online

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PAF Museum Karachi on Saturday as chief guest, Federal Minister said that SZABIST is on of the best institution in the South Asia Region.

He said that if Shaheed Zulfiqar Ali Bhutto and Shaheed Benazir Bhutto were alive, they were definitely proud of it.

Institution of international standard should be in Pakistan either in public sector or private sector so that the children of common men may seek higher education in such institutions, emphasized the Minister.

Mian Raza Rabbani elaborated that the education sector is devolving to provinces and he stressed that the provincial governments would take appropriate measures to eliminate ghost schools.

The Federal Minister said that education system would not be different by devolving education sector to provinces as there are different checks like Inter Board Chairman Committee which meets after every three months and overall higher education standards are also ensured and Council of Common Interest which consist upon Chief Ministers of all four provinces which is headed by Prime Minister and in the mid of March education ministry devolved to provinces as per 18th Amendment.

Answering to a question the Federal Minister said that this government would complete its tenure up to 2013 and there is no chance of midterm election.

10 students were awarded Academic Gold Medals whereas 58 Corporate Gold Medals sponsored by prestigious organizations were presented to meritorious students.

He congratulated the students who were awarded graduate and under-graduate degrees in Management Science, computing, social sciences and economics and medicine. -Online

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Continued from page 1

who runs a research and analysis center based in Lahore, both sides agreed to try to "arrest the downhill descent."

Even so, the Pakistani intelligence community was divided over how quickly to settle the Davis case and how much to extract from the CIA, said a Pakistani official with intimate knowledge of the situation, who declined to be named because of the delicacy of the issue.

At a minimum, the ISI wants an accounting of all the contractors who work for the CIA in roles that have not been defined to Pakistan and a general rewriting of the rules of engagement by the CIA in Pakistan, the official said.

In another sign that the two spy services were trying to patch up their differences, Leon E Panetta, the director of the CIA, spoke on Wednesday with Lt Gen Ahmed Shuja Pasha, the ISI director, Continued from page 1 No #3 about resolving Davis's case, American and Pakistani officials Federal government had formulated national education policy in said on Friday. -Agencies consultation with other provinces, he told. This policy had been Continued from page 1 framed in keeping with modern time requirements, he maintained.

No #7 Government was striving to upgrade literacy rate from the very under the directions of ECC of the Cabinet to meet farmer's first day, he said adding raising literacy rate up to 85 percent was requirement of urea for Rabi season. our target. -Agencies The onward transportation and distribution of urea to farmers will be the responsibility of National Fertilizer Marketing, anothContinued from page 1 No #4 er public sector entity. In addition to this, TCP has established letThe court directed the police to again produce him on 12 March. ter of credit for the import of 125,000 tonnes of urea.

During the hearing the court asked to US prosecutor that the This quantity is being supplied by Saudi Basic Industries arrested US national could file bail petition.

Corporation (SABIC) under deferred payment facility. Shipment The American national, identified as Aaron Mark De Haven, against this tender are scheduled to reach Pakistan by March 10th.

ZURICH/LONDON: Roche, trying to get back on its feet after a dismal year, could soon face a new blow if its top cancer drugAvastin proves to be a viable cut-price alternative to Lucentis in preventingblindness.

That would be good for patients and taxpayers, but bad news for Roche and its partner Novartis, which sells Lucentis outside the United States.

Avastin, with sales of $7 billion in 2010, hit a series of setbacks last year that slashed peak sales expectations for the drug and sliced around a fifth off the value of Roche.

Now, ironically, it is Avastin's apparent effectiveness at tiny doses in treating a leading cause of blindness in the elderly that makes it the source of Roche's next headache.

Roche said recently that results of a keenly awaited U.S. government-backed study comparing the two drugs was a "big unknown" for Lucentis. The findings will be published "in spring", according to the U.S. National Eye Institute.

No-one knows for sure, but Avastin is widely expected to match Lucentis in the 1,200patient test -- partly because the trial allows a generous margin for measuring non-inferiority.

"The most likely outcome, because the study has been designed that way, is that Avastin will be as good as Lucentis from an efficacy point of view," said Kemal Malik, head of drug development at Bayer, which is developing a rival eye treatment with Regeneron.

"The study is not adequately powered to show any safety differences," he added.

Avastin is not licensed for use in the eye but it works in a similar way toLucentis, and the tiny amount needed for an eye injection costs only around $50, against a U.S. price of $1,950 for Lucentis.

A positive trial result for Avastin would be seized on by industry critics, and not only those in the United States.

"The cost savings will be great for the NHS (National Health Service) onceAvastin is licensed for the eyes. The drug companies are basically holding the NHS to ransom," said Andrew Ferguson, an ophthalmologist at Stirling Royal Infirmary in Scotland.

Many doctors, particularly in

No #9

the United States, already use Avastin "off label" to treat wet age-related macular degeneration (AMD) because, just like Lucentis, it stops the growth of blood vessels that can leak in the retina.

It could potentially cause more side effects, but Ferguson said that, anecdotally, this did not seem to be a problem.

MEDICARE UNCERTAINTY Last year, Lucentis raked in around $1.5 billion for both Roche andNovartis and some analysts' models had suggested it could go on to become a $10 billion-plus product. That promise is unlikely to be met, however, with Avastin as a rival.

Analysts at Jefferies believe the U.S. study, known as CATT, puts up to $5 billion of sales at risk -- though there could be a big upside boost toLucentis, as well as Bayer's new drug VEGF Trap-Eye, in the unlikely event that Avastin fails.

Consensus forecasts currently predict Roche sales of Lucentis climbing to $1.8 billion in 2015.

But there is great uncertainty, with forecasts ranging from $900 million up to $2.5 billion, according to Thomson Reuters data.

Novartis, tipped for sales of $2.2 billion by 2015, will be less directly affected by the CATT study than Roche, which may find that Medicare, theU.S. government programme for the elderly, stops reimbursing Lucentisand instead favours Avastin.

Medicare officials said it was too early to comment on how the agency would respond to the study results.

"For Novartis, a non-inferiority finding would be more manageable than for Roche, which is at the mercy of Medicare's decision at the end of the day,"Helvea analyst Karl-Heinz Koch said. "Roche is very exposed." Sarasin analyst David Kaegi also sees greater price pressure on Lucentisin the United States than in Europe.

Novartis, which has negotiated contracts with governments across Europethat make Lucentis somewhat more affordable than in the U.S., is eager to play down the threat.

"Avastin has always been there. I am not sure the CATT study will be so definitive in pushing people over unless

results are really striking. We don't think it will change the thinking," said Trevor Mundel, global head of development at Novartis.

Still, there are a half a dozen similar studies underway in Europe, andBritain's National Institute for Health and Clinical Excellence may also appraise Avastin in AMD. On the upside, analysts believe new uses of Lucentis in diabetic macular edema, a complication of diabetes, as well as macular edema following retinal vein occlusion, the blockage of one of the veins in the eye, will help both Roche and Novartis to offset the sales impact from Avastin.

Roche is also working on a long-acting form of Lucentis, which could result in less frequent injections -Reuters EURO PHARMA 'TO GENERATE $495 BLN CASH BY 2015' The drugs industry may be going through a rough patch but the cash tap won't be turned off just yet, according to analysts at Credit Suisse.

Over the next five years they see European pharmaceutical companies generating free cash flow of $495 billion, 30 percent more than in 2006-10 and enough to leave the sector debt free by 2015.

The high level of cash generation will be driven by high industry margins, cost-cutting measures and more efficient use of working capital, as the industry tightens its belt in the face of a wave of patent expiries.

Over the next five years, the brokerage expects $166 billion of aggregate free cash flow to be invested in research and development, representing 34 percent of the total, with $35 billion going to share repurchases, $160 billion to dividends and $15 billion for completed acquisitions.

That will leave $120 billion of "excess" cash for further buybacks, dividends, debt repayments or new acquisitions.

Companies with the most "unallocated" cash flow are Shire, Bayer, MerckKGaA and Lundbeck, Credit Suisse said in a research note on Friday.

Those with the least unallocated cash flow -- meaning they are already taking action and returning capital to shareholders -- are Novo Nordisk,AstraZeneca, GlaxoSmithKline and Novartis.

Continued from page 1

But Pakistan spinners strangled the Sri Lankan batsmen, capturing six of the nine wickets to fall.

Top scorer for Sri Lanka was Chamara Silva with 57 off 78 balls.

"It was really important for us as Sri Lanka are a good side, especially since they were playing at home. It was important to win this World Cup match to go forward," said Misbah.

"Especially here, (winning the) toss was very, very important because it comes nicely to the bat in the first innings and second innings it's difficult to bat."-Reuters

No #8

Continued from page 1

"By any measure, Moammar Gadhafi's government has violated international norms and common decency and must be held accountable," President Barack Obama said in a statement Friday night announcing the sanctions, which he said were designed to target Gadhafi's government and protect the assets of Libya's people from being looted by the regime.

They struck directly at Gadhafi's family, which is believed to have amassed great wealth during his 42 years in control of the oil-rich North African nation.

The president condemned "the Libyan government's continued violation of human rights, brutalization of its people and outrageous threats."

The administration faced increasing pressure to join more forcefully in an international chorus of condemnation against Gadhafi, who has unleashed a frenzy of killing against a determined rebellion intent on ending his rule. Militiamen loyal to the strongman have been roaming the streets of Tripoli shooting at will, killing hundreds or thousands, even as an increasingly desperate Gadhafi has lost hold of major portions of the country to rebel control.

The White House had held back while US citizens were still in Libya, despite criticism domestically and internationally that its response was insufficiently forceful.

That changed quickly Friday after successful evacuations of embassy personnel and other US citizens on a chartered airplane and a ferry to Malta.

White House press secretary Jay Carney announced at an afternoon briefing - shortly after the flight carrying the last of the U.S. Embassy personnel left Libya - that sanctions were being drafted.

Carney said Gadhafi's "legitimacy has been reduced to zero in the eyes of his people."

The sanctions also apply to assets held by Gadhafi, himself, and three sons - heir apparent Saif alIslam, Khamis and Muatassim - and a daughter, Aisha.

The order directs the secretaries of state and treasury to identify other individuals who are senior officials of the Libyan government, children of Gadhafi and others involved in the violence.

Stuart Levey, undersecretary for terrorism at the Treasury Department, said officials believe "substantial sums of money" will be frozen under the order.

Libya ranks among the world's most corrupt countries and has enormous assets to plunder.

Confidential State Department cables suggest that US banks manage hundreds of millions in Libyan assets, and the government has built a multibillion-dollar wealth fund from oil sales.

The executive order said that the instability in Libya constituted an "unusual and extraordinary threat" to US national security and foreign policy.

That left the question of what impact the financial penalties could have on a desperate ruler who's declared he'll fight to the last drop of blood.

The demonstrators, encouraged by the recent uprisings that brought down the leaders of neighboring Egypt and Tunisia, also insist they will fight on.

Carney indicated Friday's actions would not be the last word from the U.S. and insisted the sanctions could work. -Reuters

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Sunday, February 27, 2011

Baiji refinery attacked, four people killed

Libya unrest

Bombing shuts Iraq largest oil refinery

Plan ready to evacuate Pakistanis

BAIJI, Iraq: Militants attacked Iraq's largest oil refinery on Saturday, killing four workers and detonating bombs that touched off a raging fire and shut down the plant in northern Iraq, officials said.

In the southern town of Samawa, a second refinery was shut down by fire but officials said initial reports indicated it was started by a technical failure rather than an insurgent attack.

The militants planted explosives at a kerosene and benzene production unit at the northern refinery in the town of Baiji, a former al Qaeda stronghold 180-km (112 miles) north of Baghdad, the governor of Salahuddin province, Ahmed al-Jubouri, said.

"The refinery has completely stopped," Jubouri told Reuters.

"It's a big loss for the whole country. All Iraqi cities depend on its production."

Oil Minister Abdul-Kareem Luaibi said the "terrorist attack" hit only one production unit, which was under maintenance, and the remaining units have not been damaged.

"The attack is part of a terrorist plan, which targets Iraq's oil

facilities and aims to undermine the Oil Ministry after it succeeded in supplying enough oil products to meet domestic needs," he said in a statement read to Reuters.

The blast, which happened before dawn, sparked a fire that was later brought under control, a police source said. It took about five hours and up to 50 fire trucks to contain the blaze.

The damaged unit, known as the North Refinery, has a production capacity of 150,000 barrels per day, a Baiji official said, adding the damage has been too severe to fix in few days.

"Fixing the damage will take long time. We are not talking about days, the damage is too severe," said the Baiji official, who asked not to be named.

"Hopefully in the next few days we can partially restart the refinery," he said, adding that the plant has enough stock to cover domestic needs for at least seven days.

Iraq does not export any oil products as it uses all of its production for power generation and domestic consumption.

The country's capacity to

refine fuels like diesel and gasoline has been ravaged by under-investment, and it has been forced since the 2003 USled invasion to buy imported fuels to meet the growing gap between supply and domestic demand.

The Samawa refinery, a 30,000 barrel-per-day facility was shut down when fire broke out in one of its main storage areas on Saturday, officials said.

"The refinery was shut down after the fire as a preemptive measure and it's expected to restart in two to three days," a source at the refinery told Reuters.

Baghdad has signed multibillion deals with international oil companies to boost output capacity to 12 million barrels a day in seven years, rivaling top oil exporter Saudi Arabia.

But everything depends on whether the OPEC member can secure its vital oilfields, refineries and other infrastructure against insurgents and militia.

Overall violence in Iraq has dropped sharply since the peak of sectarian conflict in 2006-07 but attacks still occur daily. Reuters

Sharif urges speedy Pak-India dialogue

Saudi Shi'ites stage protest

LAHORE: The leader of PML-N Mian Muhammad Nawaz Sharif has said that both Pakistan and India should accelerate the efforts for the peace of the region because it would be in the best interest of two countries.

He was speaking to the Indian High Commissioner Shard Sabarwal who called on him at his Raiwind residence.

Nawaz Sharif said that all the disputes might be resolved only by coming on negotiation table for positive frame of mind and constructive talks.

"If India and Pakistan would make sincere effort for establishing peace in the region, it would be helpful to maintain peace globally. It is almost impossible to sustain peace in

the region without involvement of India and Pakistan", the PML-N leader added.

He said that the core issue of Kashmir should not be forgotten Former premier told the diplomat when former Indian Prime Minister visited Lahore, the talks of both the countries moved forward on several issues.

On the occasion Indian High Commissioner Shard Sabarwal said that the people his country was also desirous to uphold the peace in the region.

Now the talks between two countries have been resumed.

He appreciated the efforts of Nawaz Sharif to bring peace between the two countries. Online

‘Nobody should try to become godfather’

Democracy needs joint action: Awan GUJRAT: Federal Minister for Law and Parliament Affairs Dr Babar Awan said that all parties are jointly working for stability of democracy in the country but nobody should try to become godfather of democracy.

Talking to media here in Gujrat Saturday Federal Minister for Law and Parliament Affairs Dr Babar Awan said that all parties are making joint efforts for stability of democracy but no one should try to become godfather of democracy.

He further said that present government would complete their tenure and in wake of

present situation there is no possibility of mid-term elections.

He said that no secret hand is involved in current situation of Pakistan and if any secret hand would found indulged in creating anarchy in the country then it would be held through independent media.

He further said that PML-N should follow politics of principles. He said that under Article 63-A, turncoats neither have any legal status nor have right of vote casting.

He said that PPP continued policy of reconciliation despite fewer ministries in Punjab. Agencies

DUBAI: Saudi Shi'ites held a small demonstration in the oilproducing Eastern province, close to Gulf neighbor Bahrain, days after authorities freed Shi'ite prisoners following a similar protest, resident Shi'ite sources said on Saturday.

They said dozens of Shi'ites gathered on Thursday night in Qatif, the main Shi'ite town in the province, to demand the release of fellow prisoners held for long periods without trial.

There was no official confirmation of the demonstration which was also reported by Shi'ite website Rasid.com. It said protesters had carried pictures of prisoners whose release they demand.

Last week, Saudi authorities released three prisoners after Shi'ites in Qatif's neighboring town Awwamiya staged a small protest, according to resident Shi'ites.

Analysts say top OPEC exporter Saudi Arabia would be worried if protests in Bahrain, where majority Shi'ites have been demonstrating against the Saudi-allied Sunni government, spread to its Shi'ite minority who mostly live in the Eastern province, the source of Saudi oil wealth.

Saudi Arabia applies an austere Wahhabi version of Sunni Islam and minority Shi'ites say that, while their situation has improved under reforms launched by King Abdullah, they still face restrictions in getting senior government jobs.

The government denies these charges.

Shi'ites stand to benefit like other citizens from $37 billion in government benefits King See # 1 Page 7

ISLAMABAD: Foreign office spokesperson Tehmina Janjua said on Saturday that the government has taken appropriate measures for the evacuation of Pakistani citizens in Libya.

Talking to a private news channel, she said embassy in Tripoli is in contact with Pakistanis in Libya and no request had been received to shift Pakistani citizens from that country.

She said that Foreign Office is ready to deal with any untoward situation, and Libya's constantly changing situation was being reviewed continuously.

Tehmina said that there are around 18,000 Pakistanis working in Libya and if the situation deteriorates, the government would respond immediately to bring them back.

She added that Pakistanis in Libya had not yet opted to return to the country, but the government is already making preparations for their safe return if the situation worsens.

To a question regarding the safe return of the Pakistanis living in Egypt, she said that on Prime Minister's directives Ministry of Foreign Affairs also contacted the ambassador to make arrangements for their evacuation. -APP

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SANAA: Anti-government protesters shout slogans during a rally outside Sanaa University. -Reuters

Tension between PML(N)-PPP in Punjab

President vows to play positive ISLAMABAD: President and Co-chairman of the Pakistan Peoples Party (PPP) Asif Ali Zardari in a telephone call Saturday directed PPP leader Raja Riaz to play a positive role in the Punjab province so that democracy was not derailed.

The phone call came as Pakistan's most famous political marriage of convenience ended in a divorce on Friday as Nawaz Sharif signaled the ouster of the PPP from the Pakistan Muslim League - Nawaz's Punjab government and both sides contradicted each other over the implementation of a 10-point agenda, raising fears of future tensions.

According to sources, President Asif Zardari, who these days is on his official Kuwait visit, telephoned Raja Riaz and discussed the present

political situation of the Province. President instructed Raja Riaz to start the preparations of next election and avoid taking any undemocratic step. President directed Raja Riaz to follow the reconciliation policy and do not derail the democratic system in Punjab.

He said PPP would announce the opposition leader name with consultation. PPP Co-chairman advised that after PML (N) decision, PPP would play its role as a strong opposition in Punjab Assembly and PPP MPs would play their role for solving the problems of people. He praised the PPP ministers of Punjab government of having a clean record as PML (N) could not prove any charge of corruption over PPP Punjab ministers and leaders.-Online

Golden Jubilee Celebrations

Zardari joins Kuwait festivities KUWAIT CITY: President Asif Ali Zardari on Saturday joined Kuwait's Amir Sheikh Sabah Al-Ahmad Al-Jaber AlSabah and world leaders in celebrating Kuwait's golden jubilee celebrations, marking its 50th independence day.

Around 40 heads of state and government, envoys and special representatives gathered at the 'Loyalty Parade' - the hallmark of the festivities, held at Kuwait city's north.

A 21-gun salute boomed as the Amir of Kuwait, along with President Zardari and other leaders entered the arena.

The 'leader-studded event' proved to be a grand spectacle

and was attended by heads of state including; Turkey's President Abdullah Gul, Iraq's President Jalal Talabani, Bangladesh's Muhammad Zillur Rahman, Romania's Traian Basescu, Qatar's Amir Sheikh Hamad bin Khalifa AlThani, King of Bhutan Jigme Khesar Namgyei Wangchuk, Nepalese President Ram Baran Yadav, Honduras President Lobo Sosa, Canada's Governor General David Johnston and Niger's President Salou Djibo.

Saudi Second Deputy Prime Minister Prince Nayef bin Abdul Aziz Al-Saud, Admiral Mike Mullen, Indian Foreign Minister SM Krishna, former

British Prime Minister John Major, former US Secretary of State Collin Powell and envoys from friendly countries were also present.

President Asif Ali Zardari is in Kuwait to join the Kuwaiti brethren on the three-some celebrations of their 50th Independence Day, 20th anniversary of liberation from Iraq and the fifth anniversary of Amir's assumption of power.

The Amir of Kuwait had sent his Special Envoy to President Zardari in December last inviting him to attend the festivities.

The celebrations mark the See # 2 Page 7

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