KARACHI: Correction at the local bourse continued on Thursday, taking away 64 points from the benchmark KSE-100 Index which closed at 10,454.
The Index started off green and witnessed the intra-day high of 10,579 points. But later off-loading in energy and banking sectors by the investors sucked away earlier gains.
The trade volume was weak and stood at 110 million shares.
PTCL emerged as today’s volume leader at Rs21.48, up by paisas 45.
Meanwhile, KSE-30 Index plunged by 81 points to finish the day at 10,557.
Tuesday, May 4, 2010
Euro slides as doubts emerge, Aussie recovers
SYDNEY: The euro fell on Monday, resuming its slide toward recent one-year lows, as fiscal worries about the broader euro zone returned and the initial relief from a bailout package for debt-stricken Greece fizzled out.
Growth-linked currencies like the Australian dollar, however, recouped earlier losses made in a knee-jerk reaction to China's move to tighten policy.
The euro fell to as low as $1.3206 in Asian trade, losing 0.8 percent from $1.3313 late on Friday. It had rallied to as high as $1.3359 in early trade in Asia, before losing all those hard-earned gains.
Traders reported stop-loss selling below $1.3220 with the single currency making an outside trading day on the charts, suggesting a bearish trend is in store.
More stops are lined up around $1.32 and it all depends on how Portuguese and Spanish debt spreads trade when Europe opens. If they blow out, the euro could fall further, traders said. It had hit a one-year low of $1.3114 last week.
"The bailout package is turning out to be a 10-tonne weight around the euro," said David Scutt, a forex trader at Arab Bank Australia in Sydney. "It is a classic case of buy the rumor and sell the fact.
The euro also fell on the yen, dropping to 124.19 yen, from 125.06 yen late on Friday. Trade is expected to be light due to holidays in Japan, China and the UK.
The euro is down about 7 percent against the greenback since the start of the year as fears about a default by Greece and concerns it will spread to other southern European countries drove speculators to go short on the single currency.
Latest data from the Commodity Futures Trading Commission showed speculators had run up record short positions against the euro in the week to April 27 as uncertainty over the Greek debt crisis mounted.
On Sunday, European finance ministers agreed to a record 110 billion ($147 billion) bailout package for Greece. They approved a three-year package of emergency loans and agreed the first funds would be released in time for Athens to make a big debt repayment to creditors on May 19.
The plan still needs to be approved by German politicians and the tough conditions will be hard for many Greeks to swallow. The loans to Greece are linked to progress in austerity measures promised by Athens, a condition many investors are wary of.
"Shorts are too large to give the currency much downward momentum, but policy is too unpredictable to bet on a sustained euro recovery," JP Morgan said in a note.
The euro's losses saw the dollar index .DXY rise 0.4 percent to 82.22.
The U.S. dollar slipped on the yen, easing to 93.88 yen, from around 93.94 yen late on Friday. The U.S. dollar had fallen to 93.85 yen in early trade, hurt by a bout of selling on the Aussie/yen cross, traders said.
The Australian dollar recovered from an early low of $0.9210, to trade at $0.9245. Sentiment toward commodity-linked currencies was hurt early by China's decision to raise banks' reserve requirements by 50 basis points at the weekend.
Also, weighing on the Aussie initially was the Australian government's plan to levy a super tax on resource companies of 40 percent. Traders said, buying by U.S. entities supported the Aussie, leading to a short squeeze.
Sterling extended losses, falling to $1.5256 from $1.5311 late on Friday, with weekend opinion polls suggesting that no political party had a big enough lead to guarantee an outright parliamentary majority in Britain's May 6 election.
Analysts say a lack of majority in parliament could hinder plans for Britain to get its fiscal house in order and would weigh on the pound in the short term. Near support is seen at around $1.5220, the hourly support on April 29.
Growth-linked currencies like the Australian dollar, however, recouped earlier losses made in a knee-jerk reaction to China's move to tighten policy.
The euro fell to as low as $1.3206 in Asian trade, losing 0.8 percent from $1.3313 late on Friday. It had rallied to as high as $1.3359 in early trade in Asia, before losing all those hard-earned gains.
Traders reported stop-loss selling below $1.3220 with the single currency making an outside trading day on the charts, suggesting a bearish trend is in store.
More stops are lined up around $1.32 and it all depends on how Portuguese and Spanish debt spreads trade when Europe opens. If they blow out, the euro could fall further, traders said. It had hit a one-year low of $1.3114 last week.
"The bailout package is turning out to be a 10-tonne weight around the euro," said David Scutt, a forex trader at Arab Bank Australia in Sydney. "It is a classic case of buy the rumor and sell the fact.
The euro also fell on the yen, dropping to 124.19 yen, from 125.06 yen late on Friday. Trade is expected to be light due to holidays in Japan, China and the UK.
The euro is down about 7 percent against the greenback since the start of the year as fears about a default by Greece and concerns it will spread to other southern European countries drove speculators to go short on the single currency.
Latest data from the Commodity Futures Trading Commission showed speculators had run up record short positions against the euro in the week to April 27 as uncertainty over the Greek debt crisis mounted.
On Sunday, European finance ministers agreed to a record 110 billion ($147 billion) bailout package for Greece. They approved a three-year package of emergency loans and agreed the first funds would be released in time for Athens to make a big debt repayment to creditors on May 19.
The plan still needs to be approved by German politicians and the tough conditions will be hard for many Greeks to swallow. The loans to Greece are linked to progress in austerity measures promised by Athens, a condition many investors are wary of.
"Shorts are too large to give the currency much downward momentum, but policy is too unpredictable to bet on a sustained euro recovery," JP Morgan said in a note.
The euro's losses saw the dollar index .DXY rise 0.4 percent to 82.22.
The U.S. dollar slipped on the yen, easing to 93.88 yen, from around 93.94 yen late on Friday. The U.S. dollar had fallen to 93.85 yen in early trade, hurt by a bout of selling on the Aussie/yen cross, traders said.
The Australian dollar recovered from an early low of $0.9210, to trade at $0.9245. Sentiment toward commodity-linked currencies was hurt early by China's decision to raise banks' reserve requirements by 50 basis points at the weekend.
Also, weighing on the Aussie initially was the Australian government's plan to levy a super tax on resource companies of 40 percent. Traders said, buying by U.S. entities supported the Aussie, leading to a short squeeze.
Sterling extended losses, falling to $1.5256 from $1.5311 late on Friday, with weekend opinion polls suggesting that no political party had a big enough lead to guarantee an outright parliamentary majority in Britain's May 6 election.
Analysts say a lack of majority in parliament could hinder plans for Britain to get its fiscal house in order and would weigh on the pound in the short term. Near support is seen at around $1.5220, the hourly support on April 29.
Euro slides as doubts emerge, Aussie recovers
SYDNEY: The euro fell on Monday, resuming its slide toward recent one-year lows, as fiscal worries about the broader euro zone returned and the initial relief from a bailout package for debt-stricken Greece fizzled out.
Growth-linked currencies like the Australian dollar, however, recouped earlier losses made in a knee-jerk reaction to China's move to tighten policy.
The euro fell to as low as $1.3206 in Asian trade, losing 0.8 percent from $1.3313 late on Friday. It had rallied to as high as $1.3359 in early trade in Asia, before losing all those hard-earned gains.
Traders reported stop-loss selling below $1.3220 with the single currency making an outside trading day on the charts, suggesting a bearish trend is in store.
More stops are lined up around $1.32 and it all depends on how Portuguese and Spanish debt spreads trade when Europe opens. If they blow out, the euro could fall further, traders said. It had hit a one-year low of $1.3114 last week.
"The bailout package is turning out to be a 10-tonne weight around the euro," said David Scutt, a forex trader at Arab Bank Australia in Sydney. "It is a classic case of buy the rumor and sell the fact.
The euro also fell on the yen, dropping to 124.19 yen, from 125.06 yen late on Friday. Trade is expected to be light due to holidays in Japan, China and the UK.
The euro is down about 7 percent against the greenback since the start of the year as fears about a default by Greece and concerns it will spread to other southern European countries drove speculators to go short on the single currency.
Latest data from the Commodity Futures Trading Commission showed speculators had run up record short positions against the euro in the week to April 27 as uncertainty over the Greek debt crisis mounted.
On Sunday, European finance ministers agreed to a record 110 billion ($147 billion) bailout package for Greece. They approved a three-year package of emergency loans and agreed the first funds would be released in time for Athens to make a big debt repayment to creditors on May 19.
The plan still needs to be approved by German politicians and the tough conditions will be hard for many Greeks to swallow. The loans to Greece are linked to progress in austerity measures promised by Athens, a condition many investors are wary of.
"Shorts are too large to give the currency much downward momentum, but policy is too unpredictable to bet on a sustained euro recovery," JP Morgan said in a note.
The euro's losses saw the dollar index .DXY rise 0.4 percent to 82.22.
The U.S. dollar slipped on the yen, easing to 93.88 yen, from around 93.94 yen late on Friday. The U.S. dollar had fallen to 93.85 yen in early trade, hurt by a bout of selling on the Aussie/yen cross, traders said.
The Australian dollar recovered from an early low of $0.9210, to trade at $0.9245. Sentiment toward commodity-linked currencies was hurt early by China's decision to raise banks' reserve requirements by 50 basis points at the weekend.
Also, weighing on the Aussie initially was the Australian government's plan to levy a super tax on resource companies of 40 percent. Traders said, buying by U.S. entities supported the Aussie, leading to a short squeeze.
Sterling extended losses, falling to $1.5256 from $1.5311 late on Friday, with weekend opinion polls suggesting that no political party had a big enough lead to guarantee an outright parliamentary majority in Britain's May 6 election.
Analysts say a lack of majority in parliament could hinder plans for Britain to get its fiscal house in order and would weigh on the pound in the short term. Near support is seen at around $1.5220, the hourly support on April 29.
Growth-linked currencies like the Australian dollar, however, recouped earlier losses made in a knee-jerk reaction to China's move to tighten policy.
The euro fell to as low as $1.3206 in Asian trade, losing 0.8 percent from $1.3313 late on Friday. It had rallied to as high as $1.3359 in early trade in Asia, before losing all those hard-earned gains.
Traders reported stop-loss selling below $1.3220 with the single currency making an outside trading day on the charts, suggesting a bearish trend is in store.
More stops are lined up around $1.32 and it all depends on how Portuguese and Spanish debt spreads trade when Europe opens. If they blow out, the euro could fall further, traders said. It had hit a one-year low of $1.3114 last week.
"The bailout package is turning out to be a 10-tonne weight around the euro," said David Scutt, a forex trader at Arab Bank Australia in Sydney. "It is a classic case of buy the rumor and sell the fact.
The euro also fell on the yen, dropping to 124.19 yen, from 125.06 yen late on Friday. Trade is expected to be light due to holidays in Japan, China and the UK.
The euro is down about 7 percent against the greenback since the start of the year as fears about a default by Greece and concerns it will spread to other southern European countries drove speculators to go short on the single currency.
Latest data from the Commodity Futures Trading Commission showed speculators had run up record short positions against the euro in the week to April 27 as uncertainty over the Greek debt crisis mounted.
On Sunday, European finance ministers agreed to a record 110 billion ($147 billion) bailout package for Greece. They approved a three-year package of emergency loans and agreed the first funds would be released in time for Athens to make a big debt repayment to creditors on May 19.
The plan still needs to be approved by German politicians and the tough conditions will be hard for many Greeks to swallow. The loans to Greece are linked to progress in austerity measures promised by Athens, a condition many investors are wary of.
"Shorts are too large to give the currency much downward momentum, but policy is too unpredictable to bet on a sustained euro recovery," JP Morgan said in a note.
The euro's losses saw the dollar index .DXY rise 0.4 percent to 82.22.
The U.S. dollar slipped on the yen, easing to 93.88 yen, from around 93.94 yen late on Friday. The U.S. dollar had fallen to 93.85 yen in early trade, hurt by a bout of selling on the Aussie/yen cross, traders said.
The Australian dollar recovered from an early low of $0.9210, to trade at $0.9245. Sentiment toward commodity-linked currencies was hurt early by China's decision to raise banks' reserve requirements by 50 basis points at the weekend.
Also, weighing on the Aussie initially was the Australian government's plan to levy a super tax on resource companies of 40 percent. Traders said, buying by U.S. entities supported the Aussie, leading to a short squeeze.
Sterling extended losses, falling to $1.5256 from $1.5311 late on Friday, with weekend opinion polls suggesting that no political party had a big enough lead to guarantee an outright parliamentary majority in Britain's May 6 election.
Analysts say a lack of majority in parliament could hinder plans for Britain to get its fiscal house in order and would weigh on the pound in the short term. Near support is seen at around $1.5220, the hourly support on April 29.
Oil below $86 as traders eye US crude supplies
SINGAPORE: Oil prices dropped below $86 a barrel Tuesday in Asia as traders anticipated another increase in U.S. crude supplies from a government report due later this week.
Benchmark crude for June delivery was down 26 cents to $85.93 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 4 cents to settle at $86.19 on Monday.
Oil touched an 18-month high of $87.15 a barrel Monday, and has jumped about 23 percent since February on investor expectations that a growing U.S. and global economy will boost demand.
But U.S. crude inventories have risen in recent weeks and likely gained another 1.5 million barrels last week, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.
The Energy Department's Energy Information Administration is scheduled to release last week's supply data Wednesday.
Investors are also concerned that higher prices for crude products such as gasoline will eventually undermine economic growth.
“Throughout this move higher, signs that the world economy is recovering have trumped everything else,'' Cameron Hanover said in a report. “The economy has so far ignored signs that higher oil prices are making it that much harder for the recovery to maintain its pace.''
In other Nymex trading in June contracts, heating oil fell 0.46cent to $2.341 a gallon, and gasoline slipped 0.86 cent to $2.427 a gallon. Natural gas was steady at $3.995 per 1,000 cubic feet.
In London, Brent crude was down 36 cents at $88.58 on the ICE futures exchange.
Benchmark crude for June delivery was down 26 cents to $85.93 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 4 cents to settle at $86.19 on Monday.
Oil touched an 18-month high of $87.15 a barrel Monday, and has jumped about 23 percent since February on investor expectations that a growing U.S. and global economy will boost demand.
But U.S. crude inventories have risen in recent weeks and likely gained another 1.5 million barrels last week, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.
The Energy Department's Energy Information Administration is scheduled to release last week's supply data Wednesday.
Investors are also concerned that higher prices for crude products such as gasoline will eventually undermine economic growth.
“Throughout this move higher, signs that the world economy is recovering have trumped everything else,'' Cameron Hanover said in a report. “The economy has so far ignored signs that higher oil prices are making it that much harder for the recovery to maintain its pace.''
In other Nymex trading in June contracts, heating oil fell 0.46cent to $2.341 a gallon, and gasoline slipped 0.86 cent to $2.427 a gallon. Natural gas was steady at $3.995 per 1,000 cubic feet.
In London, Brent crude was down 36 cents at $88.58 on the ICE futures exchange.
Akshay ready to romance Priyanka again
MUMBAI: Once and for all Akshay Kumar sets the record straight on his pairing with Priyanka Chopra by saying he's all for the pair coming together again.
“But will she do a film with me? The ball is in her court. I do mostly comedies. I think Priyanka hardly ever acts in comedies, ” reasons Akshay.
Clearing all doubts about his ability/inability to work with Priyanka Chopra Akshay says, “Excuse me, we're all professionals here. And the two of us have done very successful films in the past.
Helen, actress on ‘As the World Turns,’ dies at 91
LOS ANGELES: “Good morning, dear,” the character Nancy Hughes said to her husband from her twin bed as the cameras rolled for the premiere of “As the World Turns” on April 2, 1956.
The world has turned more than 19,700 times since the actress Helen Wagner uttered those first words for what would become one of the most popular and — until CBS takes it off the air in September — the longest-running daytime drama on television.
Wagner, who portrayed the straitlaced Hughes for all of those 54 years, died on Saturday at her home in Mount Kisco, N.Y. She was 91. The cause was cancer, her nephew David Laing said.
Proper and unassuming, Wagner’s Nancy Hughes stood for old-fashioned values — and never wavered. She was admired, and not only by housewives who, like Nancy, were striving to maintain a home while raising children. Well into the ’60s, Wagner received fan letters from young men saying she reminded them of their mothers and grandmothers.
But times change, and gone are the days when thundering chords from an organ underlined the discovery that Nancy’s grandson had been caught stealing change from his father’s trousers.
The citizens of the fictional town of Oakdale, outside Chicago, continued to have their feuds and affairs. But in recent years issues like incest, AIDS, drug and alcohol dependency, euthanasia, teen suicide and Alzheimer’s have laced the scripts.
Wagner’s Nancy lasted precisely because she remained solid; she wouldn’t join the country club because she considered it elitist, and insisted on cleaning her house because she felt uncomfortable being bossy.
Last December, however, CBS announced that after 54 years “As the World Turns,” at one time No. 1 in the daytime ratings, would broadcast its last episode in September. Wagner made her final appearance on April 5.
In 2004, she received the Lifetime Achievement Award from the National Academy of Television Arts and Sciences.
Helen Losee Wagner was born on Sept. 3, 1918, in Lubbock, Tex., one of two daughters of Charles and Janette Tinker Wagner. She studied music and drama at Monmouth College in Illinois.
Before signing a 13-week contract for “As the World Turns” in 1956, Wagner had been a singer and stage actress, sometimes working as a church soloist to pay the rent. She had roles in “Sunny River,” “Oklahoma!” and “The Bad Seed” on Broadway.
In 1954 she married Robert Willey, an actor and theater producer. He died last year.
Times Square bomb plot suspect arrested
NEW YORK: A Pakistani man believed to be the driver of a sport utility vehicle used as a car bomb in a failed terror attack on Times Square was taken into custody early Tuesday by federal and local police officials while trying to leave the country, a law enforcement official said.
The suspect, Faisal Shahzad, was identified by customs agents at John F. Kennedy International Airport and was stopped before boarding an Emirates airlines flight to Dubai, according to officials who spoke to a US-based news agency early Tuesday on the condition of anonymity because of the sensitivity of the investigation. Shahzad had recently returned from a five-month trip to Pakistan, where he had a wife.
He was being held in New York and couldn't be contacted. He has a Shelton, Connecticut, address; a phone number listed there wasn't in service.
Law enforcement officials say Shahzad bought the SUV, a 1993 Nissan Pathfinder, from a Connecticut man about three weeks ago and paid cash. The officials spoke to the news agency on condition of anonymity because of the sensitive nature of the case.
Police said the bomb could have produced "a significant fireball" and sprayed shrapnel with enough force to kill pedestrians and knock out windows. The SUV was parked on a street lined with restaurants and Broadway theaters, including one showing "The Lion King," and full of people out on a Saturday night.
The vehicle identification number had been removed from the Pathfinder's dashboard, but it was stamped on the engine, and investigators used it to find the owner of record. The discovery was paramount to the investigation.
"The discovery of the VIN on the engine block was pivotal in that it led to the identifying the registered owner," said Paul Browne, chief New York Police Department spokesman. "It continues to pay dividends."
The U.S. attorney's office in Manhattan will handle the case. An early morning call to the office was not immediately returned. It wasn't clear if additional suspects were being sought.
Officials say the SUV's registered owner, whose name has not been released, was not considered a suspect in the bomb scare.
Investigators tracked the license plate found on the rear of the SUV to a used auto parts shop in Stratford, Connecticut, where they discovered the plate was connected to a different vehicle. They also spoke to the owner of an auto sales shop in nearby Bridgeport because a sticker on the Pathfinder indicated the SUV had been sold by his dealership.
As the buyer came into focus, investigators backed off other leads. They had initially wanted to speak with a man apparently in his 40s who was videotaped shedding his shirt near the Pathfinder, but they backed away as the buyer became clear. The man had not been considered a suspect, and officials said it's possible he was just a bystander.
In Washington on Monday, White House press secretary Robert Gibbs said Saturday's attempted bombing was a terrorist act.
The motive remained unclear. The Pakistani Taliban appeared to claim responsibility for the bomb in three videos that surfaced after the weekend scare, monitoring groups said. New York officials said police have no evidence to support the claims. It was unclear if the suspect in custody had any relationship to the group.
The SUV was parked near offices of Viacom Inc., which owns Comedy Central. The network recently aired an episode of the animated show "South Park" that the militant group Revolution Muslim had complained insulted the Prophet Muhammad by depicting him in a bear costume.
The SUV was captured on video crossing an intersection at 6:28 p.m. Saturday. A vendor pointed out the Pathfinder to an officer about two minutes later. Times Square, clogged with tourists on a warm evening, was shut down for 10 hours. A bomb squad dismantled the explosive device, and no one was hurt.
The explosive device had cheap-looking alarm clocks connected to a 16-ounce (454-gram) can filled with fireworks, which were apparently intended to detonate the gas cans and set the propane afire in a chain reaction, said Police Commissioner Raymond Kelly.
A metal rifle cabinet placed in the cargo area was packed with fertilizer, but NYPD bomb experts believe it was not a type volatile enough to explode like the ammonium nitrate grade fertilizer used in previous terrorist bombings.
The exact amount of fertilizer was unknown. Police estimated the cabinet weighed 200 to 250 pounds (90 to 113 kilograms) when they pulled it from the vehicle.
SC moves against PCO judges
ISLAMABAD: Supreme Court (SC) decided to continue case proceedings against the PCO judges for contempt of court, reported Tuesday,May 04, 2010 .
The SC dismissed the intra-court appeals of the judges who took oath on Provisional Constitutional Order (PCO) by declaring them non-maintainable.
The SC bench headed by Justice Nasirul Mulk delivered the verdict on appeals of the PCO judges.
These PCO judges who were issued the notices regarding contempt of court, include former Chief Justice Abdul Hameed Dogar and former Chief Justice of Lahore High Court (LHC) Iftikhar Hussain Chaudhry.
These judges, instead of apologizing, filed intra-court appeals; on this, the court reserved its verdict yesterday. Today the court made it public, declaring the appeals as not fit to be pursued.
The court directed the PCO judges to submit their response by May 7.
The court issued notice that the contempt case proceedings against these PCO judges will start from May 10.
The SC dismissed the intra-court appeals of the judges who took oath on Provisional Constitutional Order (PCO) by declaring them non-maintainable.
The SC bench headed by Justice Nasirul Mulk delivered the verdict on appeals of the PCO judges.
These PCO judges who were issued the notices regarding contempt of court, include former Chief Justice Abdul Hameed Dogar and former Chief Justice of Lahore High Court (LHC) Iftikhar Hussain Chaudhry.
These judges, instead of apologizing, filed intra-court appeals; on this, the court reserved its verdict yesterday. Today the court made it public, declaring the appeals as not fit to be pursued.
The court directed the PCO judges to submit their response by May 7.
The court issued notice that the contempt case proceedings against these PCO judges will start from May 10.
US renews US-Syria sanctions
NEW YORK: US President Barack Obama has renewed sanctions against Syria, saying it supported terrorist groups and was pursuing weapons of mass destruction.
In a statement, he said Syria "continues to pose an extraordinary threat" to US security and policy.
In a message to Congress to renew the sanctions for a further year, Mr Obama said the Syrian government had made "some progress" in checking the infiltration of foreign militants into Iraq.
But he said its "continuing support for terrorist organisations and pursuit of weapons of mass destruction and missile programmes, continue to pose an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States," Mr Obama said.
Former President George W Bush imposed the sanctions in 2004.
In a statement, he said Syria "continues to pose an extraordinary threat" to US security and policy.
In a message to Congress to renew the sanctions for a further year, Mr Obama said the Syrian government had made "some progress" in checking the infiltration of foreign militants into Iraq.
But he said its "continuing support for terrorist organisations and pursuit of weapons of mass destruction and missile programmes, continue to pose an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States," Mr Obama said.
Former President George W Bush imposed the sanctions in 2004.
Punjab, KP CNG stations closed for 24 hours
LAHORE: The CNG pumping stations have been closed for 24 hours in Punjab and Khyber Pakhtoonkhaw, reported Tuesday, May 04, 2010.
Under government program ‘Save Energy’, all CNG stations have been closed at 6am this morning for 24 hours.
It was said that this government step aimed at giving more saved CNG to the gas-run power stations.
The CNG stations were closed last week as well, which caused hardships for the owners of CNG-propelled vehicles. To save them the anguish, people kept refilling till late last night.
The disturbed people voiced concerns over this step aimed at saving energy.
People say the power load shedding could not be put to an end despite the implementation on the step taken up to end load shedding and save energy; instead, the problem of load shedding intensified, instead.
Elegance is the norm at the Costume Institute gala
LOS ANGELES: It could have gone any way last night, considering the theme of the Costume Institute exhibition: “American Woman: Fashioning a National Identity.” There could have been neo-jazz babies, flappers, debutantes, feminists, disco queens, Hollywood sirens, Nouvelle Society matrons and Playboy bunnies.
And that’s just a few archetypes off the top of a stack. But most of the women attending the gala at the Metropolitan Museum of Art, among the 725 guests, dressed elegantly, more so than in recent years, and they did their best to heed Anna Wintour’s e-mail messages to be on time.
At 6:30 p.m., Ms. Wintour, the editor in chief of Vogue, was waiting at the top of the red-carpeted grand staircase, a tiny figure in a gold Chanel dress and jacket. If the gala’s other leaders, Oprah Winfrey and Patrick Robinson, the executive vice president of design for Gap, had ascended the front steps, they still had a climb before they reached Ms. Wintour and the receiving line.
Asked if she felt any pressure to wear clothes by American designers, Ms. Wintour smiled and said, “Well, if you see the exhibition, they’re all wearing French clothes.” Ms. Winfrey wore a design of Oscar de la Renta, who had invited Mayor Michael R. Bloomberg and Barbara Walters, among others, to sit at his table.
In recent years, the themes of the Costume Institute exhibits have included “Anglomania,” superheroes and models. That at least provided some direction for how to dress for the party, where this year the top table price was $250,000 and Lady Gaga sang after the dinner. But this year’s exhibition, organized by the curator Andrew Bolton, looked at styles between 1890 and the 1940s, relying on exceptional pieces from the Brooklyn Museum’s collection like Worth gowns, gray walking suits and bicycling outfits.
It’s a serene view of American style, set against murals, and it was almost shocking to see how tiny the figures were, with tiny waists and tiny feet.
Naturally, everyone had her own idea of what defined American style.
“I think it’s confidence,” said Vera Wang, in a long white dress, as she talked to members of the Newhouse family and then Wendy Murdoch, who wore a fitted green silk dress with a long black train. Its designer, Prabal Gurung, was new to her. She said that Ms. Wintour had recommended him.
A few feet away, and trying to avoid the train of Mrs. Murdoch’s dress, were Nicole Richie, in a silvery Marc Jacobs dress, and Margherita Missoni, in a long black dress that sort of left her bare on the sides. “It’s my idea of grunge,” Ms. Missoni said. “I want to bring back the ’90s.” Ms. Ritchie said she wanted to dress up more these days. “I actually wear long dresses a lot,” she said.
Across the Petrie Sculpture Court, where cocktails were held, Lauren Santo Domingo was channeling the ’90s as well. “Tom Ford,” she said, mentioning a designer whose name seemed to be on a number of people’s lips. Ms. Santo Domingo’s long beige beaded dress was actually a Proenza Schouler. She was standing with Chloë Sevigny, who had on a bright turquoise Proenza dress with a short belled skirt.
“I couldn’t pull off your dress,” Ms. Sevigny said to Ms. Santo Domingo, “and you couldn’t pull off mine.” They seemed agreed about that.
Christopher Bailey, the Burberry designer, had his idea about American style: “It’s easy, functional, comfortable with an earthy sexiness. I still think of Lauren Hutton as the epitome of that style.”
Franca Sozzani, the editor of Italian Vogue, had on a beige silk satin Valentino dress (“From way, way back,” she said, waving her hand), and she stood surveying the jam-packed, train-tripping room with Donatella Versace.
“To me, American fashion is Charlie James,” Ms. Sozzani said.
Ah, Charlie. Someone was summoning him, too. Dr. Lisa Airan, the Manhattan dermatologist, had wanted to wear a real James dress to the party, but her friend, the designer Gilles Mendel, had told her that wasn’t such a great idea. So she went to the Met library, did some research, and asked Mr. Mendel to make her dress in the James spirit.
And that’s just a few archetypes off the top of a stack. But most of the women attending the gala at the Metropolitan Museum of Art, among the 725 guests, dressed elegantly, more so than in recent years, and they did their best to heed Anna Wintour’s e-mail messages to be on time.
At 6:30 p.m., Ms. Wintour, the editor in chief of Vogue, was waiting at the top of the red-carpeted grand staircase, a tiny figure in a gold Chanel dress and jacket. If the gala’s other leaders, Oprah Winfrey and Patrick Robinson, the executive vice president of design for Gap, had ascended the front steps, they still had a climb before they reached Ms. Wintour and the receiving line.
Asked if she felt any pressure to wear clothes by American designers, Ms. Wintour smiled and said, “Well, if you see the exhibition, they’re all wearing French clothes.” Ms. Winfrey wore a design of Oscar de la Renta, who had invited Mayor Michael R. Bloomberg and Barbara Walters, among others, to sit at his table.
In recent years, the themes of the Costume Institute exhibits have included “Anglomania,” superheroes and models. That at least provided some direction for how to dress for the party, where this year the top table price was $250,000 and Lady Gaga sang after the dinner. But this year’s exhibition, organized by the curator Andrew Bolton, looked at styles between 1890 and the 1940s, relying on exceptional pieces from the Brooklyn Museum’s collection like Worth gowns, gray walking suits and bicycling outfits.
It’s a serene view of American style, set against murals, and it was almost shocking to see how tiny the figures were, with tiny waists and tiny feet.
Naturally, everyone had her own idea of what defined American style.
“I think it’s confidence,” said Vera Wang, in a long white dress, as she talked to members of the Newhouse family and then Wendy Murdoch, who wore a fitted green silk dress with a long black train. Its designer, Prabal Gurung, was new to her. She said that Ms. Wintour had recommended him.
A few feet away, and trying to avoid the train of Mrs. Murdoch’s dress, were Nicole Richie, in a silvery Marc Jacobs dress, and Margherita Missoni, in a long black dress that sort of left her bare on the sides. “It’s my idea of grunge,” Ms. Missoni said. “I want to bring back the ’90s.” Ms. Ritchie said she wanted to dress up more these days. “I actually wear long dresses a lot,” she said.
Across the Petrie Sculpture Court, where cocktails were held, Lauren Santo Domingo was channeling the ’90s as well. “Tom Ford,” she said, mentioning a designer whose name seemed to be on a number of people’s lips. Ms. Santo Domingo’s long beige beaded dress was actually a Proenza Schouler. She was standing with Chloë Sevigny, who had on a bright turquoise Proenza dress with a short belled skirt.
“I couldn’t pull off your dress,” Ms. Sevigny said to Ms. Santo Domingo, “and you couldn’t pull off mine.” They seemed agreed about that.
Christopher Bailey, the Burberry designer, had his idea about American style: “It’s easy, functional, comfortable with an earthy sexiness. I still think of Lauren Hutton as the epitome of that style.”
Franca Sozzani, the editor of Italian Vogue, had on a beige silk satin Valentino dress (“From way, way back,” she said, waving her hand), and she stood surveying the jam-packed, train-tripping room with Donatella Versace.
“To me, American fashion is Charlie James,” Ms. Sozzani said.
Ah, Charlie. Someone was summoning him, too. Dr. Lisa Airan, the Manhattan dermatologist, had wanted to wear a real James dress to the party, but her friend, the designer Gilles Mendel, had told her that wasn’t such a great idea. So she went to the Met library, did some research, and asked Mr. Mendel to make her dress in the James spirit.
Popcorn bursting with nutrients: dieticians
LONDON: There's no doubt broccoli, watercress and acai berries are overflowing with healthy vitamins and minerals, but what about the foods we actually want to eat? As a new study reveals that the once-demonised egg should be regarded as a 'superfood' (it's packed with vital antioxidants and nutrients).
The humble cinema snack could prevent cancer and help dieters.
'Most people don't know that popcorn is a wholegrain shown to reduce the risk of heart disease and cancer, and just a 30g serving - that's half a small box of popcorn in the cinema - is equivalent to one daily portion of brown rice or wholewheat pasta,' says Catherine Collins, chief dietician at St George's hospital in London.
Popcorn also contains three times more fibre by weight than sunflower seeds, keeping you feeling fuller for longer, as well as balancing your blood sugar levels (so no mood swings or cravings for sweet snacks) and helping to lower 'bad' LDL cholesterol. It even has a dose of B vitamins to boost your energy levels.
A study presented last August to the American Chemical Society suggests the real health benefits could lie more in its 'surprisingly large' polyphenol content, antioxidants thought to mop up free radicals, the potentially damaging chemicals that cause diseases such as cancer and heart disease.
Just be careful of doing more harm than good by adding excess salt or sugar to your homemade version.
The humble cinema snack could prevent cancer and help dieters.
'Most people don't know that popcorn is a wholegrain shown to reduce the risk of heart disease and cancer, and just a 30g serving - that's half a small box of popcorn in the cinema - is equivalent to one daily portion of brown rice or wholewheat pasta,' says Catherine Collins, chief dietician at St George's hospital in London.
Popcorn also contains three times more fibre by weight than sunflower seeds, keeping you feeling fuller for longer, as well as balancing your blood sugar levels (so no mood swings or cravings for sweet snacks) and helping to lower 'bad' LDL cholesterol. It even has a dose of B vitamins to boost your energy levels.
A study presented last August to the American Chemical Society suggests the real health benefits could lie more in its 'surprisingly large' polyphenol content, antioxidants thought to mop up free radicals, the potentially damaging chemicals that cause diseases such as cancer and heart disease.
Just be careful of doing more harm than good by adding excess salt or sugar to your homemade version.
New world record for a New Zealander
AUCKLAND: A New Zealander set a new world record by breaking 15 glass-made doors in one minute with his head hits, Geo news reported.Martin Robean broke apart 15 doors – made of glass, in one minute with his head and luckily received no scratch nor a wound during attempt.According to Guinness Book of World Record (GBWR), the previous record, which he broke, was of breaking 11 glass-made doors in one minute.
Tuesday, February 16, 2010
BARCELONA: The ranks of cell phone subscribers will swell to five billion people this year thanks to the growth of smartphones in developed nations and mobile services in poor nations, a UN agency said.
The International Telecommunication Union (ITU) also said the number of mobile broadband subscriptions would exceed one billion this year after reaching 600 million in 2009.
"Even during an economic crisis, we have seen no drop in the demand for communications services," ITU Secretary-General Hamadoun Toure said in a statement at the Mobile World Congress in Barcelona, Spain, the industry's biggest trade show.
The number of mobile subscribers had reached 4.6 billion people last year.
"I am confident that we will continue to see a rapid uptake in mobile cellular services in particular in 2010, with many more people using their phones to access the Internet," Toure said
In the developing world, the growth has been driven by the use of phones for mobile banking and health services, the ITU said.
"Good examples include sending reminder messages to patient's phones when they have a medical appointment, or need a pre-natal check-up," Toure said.
"Or using SMS messages to deliver instructions on when and how to take complex medication such as anti-retrovirals or vaccines," he said, adding that such uses can save millions of dollars and lives.
People with no bank accounts but mobile subscriptions are also increasingly able to do financial transactions with their phones in developing countries, he said.
Oil steady above $74
SINGAPORE: Oil was steady on Tuesday, trading near $74 in New York, as concerns over Greece's sovereign debt kept the euro close to nine-month lows against the dollar.
At a meeting in Brussels on Monday, euro zone finance ministers urged Greece to announce more deficit-control steps by mid-March if needed, without saying anything new of last week's pledge to bail out the southern European economy.
"There is definitely concern mounting about the sustainability of the recovery in Europe," said Ben Westmore, a commodities analyst at the National Australia Bank. "There is a lot of sitting and waiting; at $74 oil seems to be reasonably priced based on fundamentals at the moment."
U.S. crude for March delivery gained 7 cents to $74.20 a barrel at 0230 GMT, having traded close to $74 throughout Monday's session, which NYMEX will combine with Tuesday's because of the Presidents' Day holiday.
Activity was subdued during Asian trading hours as markets in China, Hong Kong, Singapore, Taiwan and Vietnam remained shut for the Lunar New Year holiday. London ICE Brent for April climbed 34 cents to $72.85 a barrel.
Greece's debt woes and a weak euro were likely to keep some investors in the region away from oil as they try to offload commodity-related risk from their portfolios, according to Westmore.
"When there are so many concerns about depreciation, given that oil is denominated in dollars, it becomes more expensive to buy from the perspective of European investors," Westmore said.
Oil has traded in a relatively tight $15 range between $69 and $84 a barrel since the beginning of October. Prices crashed to less than $33 at the end of 2008 from a record in July of that year above $147. Expectations of an economic recovery have supported prices since then near OPEC's comfort zone.
"We would expect oil prices for the remainder of the year in the current range, perhaps with a slight upwards drift but no dramatic spikes," BP chief economist Christof Ruehl said on Monday in an interview with television of UK-based news agency on the sidelines of an industry conference in London.
U.S. oil inventory reports will be published a day later than usual this week because of Monday's holiday. The American Petroleum Institute will release statistics collated from industry on Wednesday, followed by government data from the Energy Information Administration on Thursday.
At a meeting in Brussels on Monday, euro zone finance ministers urged Greece to announce more deficit-control steps by mid-March if needed, without saying anything new of last week's pledge to bail out the southern European economy.
"There is definitely concern mounting about the sustainability of the recovery in Europe," said Ben Westmore, a commodities analyst at the National Australia Bank. "There is a lot of sitting and waiting; at $74 oil seems to be reasonably priced based on fundamentals at the moment."
U.S. crude for March delivery gained 7 cents to $74.20 a barrel at 0230 GMT, having traded close to $74 throughout Monday's session, which NYMEX will combine with Tuesday's because of the Presidents' Day holiday.
Activity was subdued during Asian trading hours as markets in China, Hong Kong, Singapore, Taiwan and Vietnam remained shut for the Lunar New Year holiday. London ICE Brent for April climbed 34 cents to $72.85 a barrel.
Greece's debt woes and a weak euro were likely to keep some investors in the region away from oil as they try to offload commodity-related risk from their portfolios, according to Westmore.
"When there are so many concerns about depreciation, given that oil is denominated in dollars, it becomes more expensive to buy from the perspective of European investors," Westmore said.
Oil has traded in a relatively tight $15 range between $69 and $84 a barrel since the beginning of October. Prices crashed to less than $33 at the end of 2008 from a record in July of that year above $147. Expectations of an economic recovery have supported prices since then near OPEC's comfort zone.
"We would expect oil prices for the remainder of the year in the current range, perhaps with a slight upwards drift but no dramatic spikes," BP chief economist Christof Ruehl said on Monday in an interview with television of UK-based news agency on the sidelines of an industry conference in London.
U.S. oil inventory reports will be published a day later than usual this week because of Monday's holiday. The American Petroleum Institute will release statistics collated from industry on Wednesday, followed by government data from the Energy Information Administration on Thursday.
Oil hovers above $74 in Asia
SINGAPORE: Oil prices hovered above $74 a barrel Monday inAsia amid light trading volume for the Lunar New Year holiday.
Benchmark crude for March delivery was up 6 cents at $74.19 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell $1.15 to settle at$74.13 on Friday.
Oil has crisscrossed the $75 a barrel level in recent months jumping to $84 last month before dropping to $69.59 earlier this month _ as investors’ eye weak crude demand from the U.S. and Europe offset by growing consumption in developing countries such as China.
In other Nymex trading in March contracts, heating oil rose 0.78cent to $1.9267 a gallon, and gasoline gained 0.33 cent to $1.9328 a gallon. Natural gas was steady at $5.47 per 1,000 cubic feet. In London, Brent crude was up 15 cents at $73.05 on the ICE futures exchange.
Benchmark crude for March delivery was up 6 cents at $74.19 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell $1.15 to settle at$74.13 on Friday.
Oil has crisscrossed the $75 a barrel level in recent months jumping to $84 last month before dropping to $69.59 earlier this month _ as investors’ eye weak crude demand from the U.S. and Europe offset by growing consumption in developing countries such as China.
In other Nymex trading in March contracts, heating oil rose 0.78cent to $1.9267 a gallon, and gasoline gained 0.33 cent to $1.9328 a gallon. Natural gas was steady at $5.47 per 1,000 cubic feet. In London, Brent crude was up 15 cents at $73.05 on the ICE futures exchange.
Euro sluggish in Asian trade
TOKYO: The euro remained under pressure in Asia Monday as investors focused on European moves to stave off a Greek debt crisis, and gave a muted response to Japan's latest economic growth figures.
The euro dropped to 1.3612 dollars in Tokyo morning trade from 1.3629 in New York late Friday, while edging up to 122.73 yen from 122.61.
The dollar rose to 90.18 yen from 89.96.
Dealers said the market's attention was turned to a meeting of European Union finance ministers on Monday and Tuesday in Brussels.
They are expected to back measures to instil some budgetary discipline in Greece amid concerns that its swollen public deficits and massive debt levels threaten the 16-nation eurozone as a whole.
"We are monitoring the meeting by EU finance ministers," said Hideaki Inoue, chief forex trading manager at Mitsubishi UFJ Trust and Banking Corp. "Credit fears in Europe are still the biggest concern for the market.'
The European currency has been hit by worries that Greece's debt crisis will spread in the eurozone, and by EU data showing that Europe's economic recovery has stalled.
The heavyweight German economy ground to a halt in the fourth quarter of 2009 and Italy slumped back into contraction, while growth in the 16-nation bloc rose a meager 0.1 percent in the final quarter, new data showed Friday.
The market also focused on the People's Bank of China announcement that raises banks' deposit reserve ratio by 50 basis points as of February 25, the second increase since the start of the year.
The hike in the ratio -- the minimum amount of money that banks must keep in reserve and not use for lending or other purposes -- was seen as the latest sign that Beijing is moving to prevent its economy overheating.
The move prompted investors to buy the safe-haven dollar, dealers said.
China now leads the global economy," said Masatsugu Miyata, forex dealer at Hachijuni Bank. "Its impact is inevitably large."
Japan announced its economy grew 1.1 percent in October-December from the previous quarter, for an annualised pace of 4.6 percent. For the whole of 2009, Japan stayed just ahead of China as the world's number two economy.
But the market impact of the Japanese data was muted, even though the latest quarterly performance was slightly better than expected.
Asian trade was thin with many markets in the region closed for the Lunar New Year, and US markets shut for a national holiday.
The euro dropped to 1.3612 dollars in Tokyo morning trade from 1.3629 in New York late Friday, while edging up to 122.73 yen from 122.61.
The dollar rose to 90.18 yen from 89.96.
Dealers said the market's attention was turned to a meeting of European Union finance ministers on Monday and Tuesday in Brussels.
They are expected to back measures to instil some budgetary discipline in Greece amid concerns that its swollen public deficits and massive debt levels threaten the 16-nation eurozone as a whole.
"We are monitoring the meeting by EU finance ministers," said Hideaki Inoue, chief forex trading manager at Mitsubishi UFJ Trust and Banking Corp. "Credit fears in Europe are still the biggest concern for the market.'
The European currency has been hit by worries that Greece's debt crisis will spread in the eurozone, and by EU data showing that Europe's economic recovery has stalled.
The heavyweight German economy ground to a halt in the fourth quarter of 2009 and Italy slumped back into contraction, while growth in the 16-nation bloc rose a meager 0.1 percent in the final quarter, new data showed Friday.
The market also focused on the People's Bank of China announcement that raises banks' deposit reserve ratio by 50 basis points as of February 25, the second increase since the start of the year.
The hike in the ratio -- the minimum amount of money that banks must keep in reserve and not use for lending or other purposes -- was seen as the latest sign that Beijing is moving to prevent its economy overheating.
The move prompted investors to buy the safe-haven dollar, dealers said.
China now leads the global economy," said Masatsugu Miyata, forex dealer at Hachijuni Bank. "Its impact is inevitably large."
Japan announced its economy grew 1.1 percent in October-December from the previous quarter, for an annualised pace of 4.6 percent. For the whole of 2009, Japan stayed just ahead of China as the world's number two economy.
But the market impact of the Japanese data was muted, even though the latest quarterly performance was slightly better than expected.
Asian trade was thin with many markets in the region closed for the Lunar New Year, and US markets shut for a national holiday.
KSE in grip of bears over govt-judiciary standoff
KARACHI: Karachi Stock Exchange (KSE) witnessed bears overwhelming the trade on the first day of the business week with bench mark 100-index shedding 140 points at one point.
The market opened in negative territory as the standoff between the judiciary and the government surfaced on the political scene the day before yesterday with local and foreign investors preferring the selling at the market.
The trade commenced with the loss of 69 points and 100-index skidded below 9700-point level.
According to market analysts, if the confrontation between the institutions does not fizzle out soon, the bearish trend may continue further. Also, the foreign investors may prefer the selling of their shares in view of present political crunch in the country.
European stocks rally at open; London up 0.47pc
LONDON: Europe's main stock markets rose strongly at the start of trading on Tuesday, with London's benchmark FTSE 100 index of leading shares gaining 0.47 percent to 5,191.63 points.
Frankfurt's DAX 30 jumped by 1.12 percent to 5,573.07 points and in Paris the CAC 40 added 0.91 percent to stand at 3,641.97.
Frankfurt's DAX 30 jumped by 1.12 percent to 5,573.07 points and in Paris the CAC 40 added 0.91 percent to stand at 3,641.97.
Nawaz withdraws nomination papers for NA-123
LAHORE: Chief of PML-N Nawaz Sharif withdrew his nomination papers for the NA-123 by-elections on Tuesday.
On Monday, the Lahore High Court had adjourned the hearing of Nawaz Sharif's eligibility case till Tuesday.
The hearing was adjourned after the court’s election tribunal was informed that Sharif's counsel did not receive the court’s summons and therefore could not appear for the proceedings. The court had ordered that the notice be served again on Nawaz Sharif.
On February 12, the Lahore High Court had issued a notice to Nawaz Sharif to appear on February 15 on a petition filed by a journalist, Shahid Aurakzai, with the Election Tribunal of the Lahore High Court.
The petitioner had challenged the PML-N chief’s eligibility to contest the NA-123 by-elections.
On Monday, the Lahore High Court had adjourned the hearing of Nawaz Sharif's eligibility case till Tuesday.
The hearing was adjourned after the court’s election tribunal was informed that Sharif's counsel did not receive the court’s summons and therefore could not appear for the proceedings. The court had ordered that the notice be served again on Nawaz Sharif.
On February 12, the Lahore High Court had issued a notice to Nawaz Sharif to appear on February 15 on a petition filed by a journalist, Shahid Aurakzai, with the Election Tribunal of the Lahore High Court.
The petitioner had challenged the PML-N chief’s eligibility to contest the NA-123 by-elections.
27 Taliban killed in Helmand offensive
KABUL: As the joint Afghan-NATO assault against Taliban bastion in Afghanistan's southern Helmand province entered its third day Monday, more than three-dozen people have been killed and hundreds of families fled home for safer places.
Twenty-seven militants and 12 civilians have been killed and the troops have secured major parts of the restive Marjah and Nad Ali districts, according to officials.
NATO-led troops while pounding militants' hideout fired two rockets on Sunday, which missed the target and hit a house killing 12 civilians.
"Two rockets from a High Mobility Artillery Rocket System (HIMARS) launched at insurgents firing upon Afghan and ISAF forces impacted approximately 300 meters off their intended target, killing 12 civilians in Nad Ali district, Helmand province," a press release of NATO-led forces issued Sunday said.
Some 15,000 Afghan and the NATO-led forces including U.S. Marines launched a major offensive dubbed "Moshtarak" which means "together" against Taliban bastion in Marjah district of southern Helmand province before dawn Saturday to restore government's authority there.
Addressing a joint press conference in Helmand's provincial capital Lashkar Gah on Monday, Afghan Defense Minister Abdul Rahim Wardak said that the troops had achieved the objectives without major resistance.
Flanked by Interior Minister Mohammad Hanif Atmar and commander of U.S. and NATO-led troops General Stanly McChrystal, the Afghan Defense Minister also called on Taliban fighters to lay down arm and resume normal life.
Gen. McChrystal, who earlier apologized for tragic loss of innocent life, vowed to avoid harming civilians.
In order to avoid civilian casualties, Interior Minister Atmar stressed that the troops will be in constant contact with the community elders, besides evading heavy weaponry in the battle.
Sindh lawmakers slam Sharifs on Chashma power project
KARACHI: Describing the Chashma-Jehlum Link Canal Power Project as impractical, Sindh Irrigation Minister Murad Ali Shah has alleged that Pakistan Muslim League-N chief Mian Nawaz Sharif and Punjab’s Chief Minister Shahbaz Sharif were behind this project.
“We will also not respect the institution, which will disrespect the democracy,” he said.
Speaker Nisar Ali Khuhro presided over the Sindh Assembly session today.
Speaking at a point of order, MPA Kalsoom Chandio condemned the Dadu bomb blast and demanded to keep an eye on the movement of Afghan nationals and religious seminaries.
Following the question-answer session on a point of order, provincial minister Sassi Palejo urged Punjab to end its stubbornness on the issue of water.
Another MPA Humera Alwani said that the water released in Chashma-Jehlum Link Canal should be diverted to Kotri Downstream. It is Sindh’s water, she said.
Murad Ali Shah said that farmers of D.G. Khan and Muzaffargarh were also being punished along with farmers of Sindh and Blaochistan.
“We will also not respect the institution, which will disrespect the democracy,” he said.
Speaker Nisar Ali Khuhro presided over the Sindh Assembly session today.
Speaking at a point of order, MPA Kalsoom Chandio condemned the Dadu bomb blast and demanded to keep an eye on the movement of Afghan nationals and religious seminaries.
Following the question-answer session on a point of order, provincial minister Sassi Palejo urged Punjab to end its stubbornness on the issue of water.
Another MPA Humera Alwani said that the water released in Chashma-Jehlum Link Canal should be diverted to Kotri Downstream. It is Sindh’s water, she said.
Murad Ali Shah said that farmers of D.G. Khan and Muzaffargarh were also being punished along with farmers of Sindh and Blaochistan.
PCB deducts Rs7 million from Shoaib Akhtar’s dues
LAHORE: Pakistan Cricket Board (PCB) sent Rs44,971 to Shoaib Akhtar after deducting Rs7,000,000.
As per details, the PCB deducted Rs4,250,000 as fine from the amount of his match fee and prize money.
Sources said that Shoaib Akhtar also did not receive Rs2,750,000 nor he got Rs3 million for his knee operation.
As per details, the PCB deducted Rs4,250,000 as fine from the amount of his match fee and prize money.
Sources said that Shoaib Akhtar also did not receive Rs2,750,000 nor he got Rs3 million for his knee operation.
Sharapova eases past Perry in Memphis first round
MEMPHIS: Top seed Maria Sharapova dismantled Shenay Perry 6-0 6-2 in the opening round of the Memphis Championships to record her first victory on tour this year.
The former world number one needed just 51 minutes to dispatch her American challenger, breaking Perry's service six times.
The Russian will play American Bethanie Mattek-Sands in the next round.
Sharapova was coming off a disappointing performance at the Australian Open last month when she fell in the first round to compatriot Maria Kirilenko.
The former world number one needed just 51 minutes to dispatch her American challenger, breaking Perry's service six times.
The Russian will play American Bethanie Mattek-Sands in the next round.
Sharapova was coming off a disappointing performance at the Australian Open last month when she fell in the first round to compatriot Maria Kirilenko.
Govt to accept SC interpretation on consultation: PM
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani asserted that there is no room for the impression that the government wants to do away with the present judiciary, News reported on Tuesday, February 16, 2010.
Addressing the national Assembly, prime minister said he was sincere that is why estored the judiciary through executive order.
He said he held consultations with the legal experts for five hours before his speech on the issue of judges’ restoration, adding the experts opined that the PM may be sought to restore the deposed judges through an executive order after tabling a resolution at the House floor.
This needs endorsement of the Parliament, he added.
The PM Gilani said the former President Gen Pervez Musharraf used to say that consultations may be held over phone, as the matter relating the appointment of Governor Punjab was consulted over the phone.
He said if the judges want to have powers to appoint the judges without any interference from the President, the PM or the governor, the government is ready to do so provided that the Parliament gives a go-ahead on this.
Gilani observed that the Parliament is supreme with all powers to legislate.
The decisions of the Constitutional Committee has nothing to with the present judiciary or the appointment of judges, he said adding these amendments will be applicable once they are approved by the Parliament.
The government will accept whatever verdict the SC delivers on the judges’ appointments case.
Also he said the government will accept the SC standpoint on consultations over the recommendations regarding the judges’ appointments.
LHC dismisses plea challenging Nawaz electoral eligibility
LAHORE: An Election Tribunal of the Lahore High Court rejected on Tuesday a petition challenging the electoral eligibility of Pakistan Muslim League-N chief Mian Nawaz Sharif.
The tribunal dismissed the plea and declared Nawaz as eligible to contest election.
The tribunal comprised of Justice Chaudhry Iftikhiar Hussain, Justice Sheikh Azmat Saeed and Justice Nasir.
The petitioner, Shahid Orakzai, insisted that Nawaz Sharif was defaulter and was accused of attacking the Supreme Court.
On the other hand, defense lawyer argued that Nawaz Sahrif was not involved in any attack on the apex court.
Tuesday, January 12, 2010
KSE-100 index lost 19 points
KARACHI: Intense selling pressure kept the local bourse in red zone on Tuesday as KSE-100 index fell below 9,800 psychological level.
The benchmark-100 slipped 19 points to close the day at 9,778 points.
Market began on an optimistic note, led by expected $1.8bn funds from FoDP, sustained foreign inflows in equities and improvement on macro economic (surge in remittances and decline in core inflation YoY basis figures) but momentum changed later in the day as oil sector witnessed selling pressure that led market into negative territory.
Turnover remained on the lower side at 112mn shares, down by 37.5 percent as compared to last trading session whilst second tier stocks BAFL, PAKRI, AHSL and JSCL contributed most of the volume in Tuesday’s session.
Bank Al-Falah was crowned as the volume leader, down by Rs0.08/share to close at Rs14.22.
Experts said financial results may lead to positive activity at the local bourse.
London stocks hit 16-month peak above 5,600 points
LONDON: London's main stock market index on Monday hit its highest level since September 2008, when the collapse of US investment bank Lehman Brothers signalled the start of a global economic crisis.
London's benchmark FTSE 100 index reached 5,600.48 points -- the highest level for 16 months in the wake of robust Chinese economic data, analysts said.
Dollar remains up against rupee
KARACHI: The dollar remained up against the rupee in the interbank market, dealers said on Tuesday.
The dollar is trading at Rs 84.90. Forex market dealers said rupee could be weaken further due to buying of dollars by importers. The rupee was down by six pasia during today’s trading that helped dollar to reached at record Rs.84.90 level. The dealers said rupee likely gain strength after selling of cash received from importers.
The dollar is trading at Rs 84.90. Forex market dealers said rupee could be weaken further due to buying of dollars by importers. The rupee was down by six pasia during today’s trading that helped dollar to reached at record Rs.84.90 level. The dealers said rupee likely gain strength after selling of cash received from importers.
Ex-chairman Pakistan Steel Moin Aftab arrested
KARACHI: A team of FIA Crime Circle has rounded up the former chairman Pakistan Steel Mills (PSM) Moin Aftab from the home of his daughter on four charges of corruption – worth of billions of rupees, here in Defense locality late on Tuesday night, reported.
According to FIA team, he was hiding in his daughter home for fear of detention when the crackdown was launched in view of his arrest warrants issued in four corruption cases being under trial in courts and he sought bail before arrest.
He was an absconder from Rawalpindi, sources said.
Five kids dead in Mian Channu accident
MIAN CHANNU: As many as five children died when their van was hit by a train at Musa Virk Railway gate in Mian Channu, reported Wednesday, January 13, 2010.
According to News, the school van carrying schoolchildren was completely damaged and most of the children are seriously injured.
The Jafferabad Express coming from Quetta hit the school van standing at the Railway Crossing Gate near Musa Virk at 815am.
According to an eyewitness, the injured have been rushed to nearby hospital. The hospital sources told that most of the children are in dire condition.
According to Railway sources, there was no gate at the Railways crossing. Some other source said the fog also was the cause of the accident.
The bodies of five children were taken to Tehsil Headquarter. The deceased included Safdar, Tanveer, Shahbaz and Faisal.
According to News, the school van carrying schoolchildren was completely damaged and most of the children are seriously injured.
The Jafferabad Express coming from Quetta hit the school van standing at the Railway Crossing Gate near Musa Virk at 815am.
According to an eyewitness, the injured have been rushed to nearby hospital. The hospital sources told that most of the children are in dire condition.
According to Railway sources, there was no gate at the Railways crossing. Some other source said the fog also was the cause of the accident.
The bodies of five children were taken to Tehsil Headquarter. The deceased included Safdar, Tanveer, Shahbaz and Faisal.
Surgical actions, not operation, carried out in Lyari: Malik
KARACHI: Federal Interior Minister Rehman Malik said Tuesday that surgical actions, not operation, was carried out in Lyari on reports of unrest.
He was speaking to media after attending the meeting of Lyari-based MNAs and MPAs with President Asif Ali Zardari here on Tuesday.
If any unrest was reported in Lyari, talks would be held with the local officer bearer for the solution, he said.
PPP’s MNA Qadir Patel said that President Zardari has given order for stopping the operation and withdrawal of rangers from Lyari.
Patel said that operation would be taken against all criminal elements present in the city without any discrimination.
“Lyari is the fort of PPP and peaceful people and it will last forever,” said the MNA.
Zardari chairs high-level law, order sitting
KARACHI: The obtaining law and order situation with particular reference to ongoing target killings in Karachi came under review at a high level meeting chaired by President Asif Ali Zardari here Tuesday.
The meeting was attended by Governor Dr Ishrat-ul-Ebad Khan and Chief Minister Syed Qaim Ali Shah besides PPP and MQM members of the Core Committee.
Briefing journalists after the meeting, Sindh Senior Minister Pir Mazharul Huq (PPP) and IT Minister Raza Haroon (MQM) informed that in the meeting a Peace Committee, headed by the Sindh Chief Minister, was formed which would have 2-4 members each from PPP and MQM and would meet fortnightly.
Pir Mazharul Huq said various issues were resolved amicably. He said the committee would pre-empt the situation, take necessary remedial steps and share information with each other.
He said the President asked both the parties to sit together and work out a strategy in advance as nothing was achieved once an incident occurred. He hoped that in future there would be no possibility of occurrence of such incidents.
Regretting the recent incidents, the Senior Minister said the President and the Governor described the martyrs as children of Karachi and that they were all grieved. He said it would be wrong to label the deceased as being Baloch, Sindhi or from MQM or any other party.
He said the President described it the murder of humanity and no one should play political game on it. Pir Mazhar said it was decided to resolve all issues amicably to ensure peace, progress and prosperity.
He said that as per vision of President Asif Ali Zardari and MQM chief Altaf Hussain, an action would be taken to pre-empt an incident.
8 miners killed in Balochistan twin mine blasts
QUETTA: At least 8 miners were killed while another 3 injured in two separate incidents of explosions in Spin Carez and Marwar mines located in Balochistan on Wednesday, news reported.
The chief inspector mines said, the explosion occurred in a Muree Coal Company due to gas leakage which killed five miners whose corpses have been obtained from debris while some miners are still stranded under the rubble.
He said freezing winter weather has also contributed to undermine rescue efforts meanwhile, in another incident of explosion, the coal mine located in Spin Carez had explosion due to gas spill and trapped five miners under the debris.
Subsequently, local people on their own, rescued all of them from destroyed mines but 3 among them died of suffocation while 3 injured miners have been admitted to hospital, sources said.
China again warns against arms sales to Taiwan
BEIJING: China again expressed its opposition to arms sales to Taiwan on Wednesday, the latest in a series of warnings over recent U.S. government contracts with Raytheon Company and LockheedMartin Corp. for Taiwan-bound weapons.
``The stand we take in opposing any country selling arms to Taiwan has been consistent and clear,'' the spokesman for the State Council's Taiwan Affairs Office, Yang Yi, told a news conference. Officials from the defense and foreign ministries have already publicly opposed the U.S. contracts, warning they could hurt China-U.S. relations.
``The stand we take in opposing any country selling arms to Taiwan has been consistent and clear,'' the spokesman for the State Council's Taiwan Affairs Office, Yang Yi, told a news conference. Officials from the defense and foreign ministries have already publicly opposed the U.S. contracts, warning they could hurt China-U.S. relations.
World gears up to help quake-stricken Haiti
PORT-AU-PRINCE: The United States, France, Canada and governments across Latin America were gearing up Tuesday to help Haiti, after a massive 7.0 earthquake leveled buildings and caused an unknown number of casualties.
US President Barack Obama said his government stood "ready to assist the people of Haiti," as the State Department, USAID and United States Southern Command mobilized, the White House said, "to coordinate an assessment and any such assistance."
In Paris, Foreign Minister Bernard Kouchner said France "expresses its complete solidarity" with Haiti, adding that his ministry's crisis center had begun working "to mobilize and dispatch without delay urgent aid to Port-au-Prince."
Canada, which hosts an 80,000-strong Haitian community, said it was "deeply concerned" with events unfolding in Haiti. Canadian Foreign Affairs Minister Lawrence Cannon said Canadian officials "are making contact with trusted humanitarian partners with a presence in the region to identify humanitarian needs resulting from this earthquake."
Brazil's President Luiz Inacio Lula da Silva said he was "very concerned" with the situation in Haiti, including the fate of some 1,200 Brazilian members of the 7,000-strong UN Stabilization Mission in Haiti, known as MINUSTAH, which Brazil leads.
In Bogota, the president's office said Colombia was "under alert and ready to respond to the Haitian authorities' call for help," adding that the defense ministry and emergency management services were coordinating upcoming assistance efforts.
Venezuela said it would send a 50-member "humanitarian assistance team" to Haiti in the next few hours. In Panama, the country's Vice President Juan Carlos Varela pledged that his government would provide assistance to the United Nations's Office for the Coordination of Humanitarian Affairs.
US President Barack Obama said his government stood "ready to assist the people of Haiti," as the State Department, USAID and United States Southern Command mobilized, the White House said, "to coordinate an assessment and any such assistance."
In Paris, Foreign Minister Bernard Kouchner said France "expresses its complete solidarity" with Haiti, adding that his ministry's crisis center had begun working "to mobilize and dispatch without delay urgent aid to Port-au-Prince."
Canada, which hosts an 80,000-strong Haitian community, said it was "deeply concerned" with events unfolding in Haiti. Canadian Foreign Affairs Minister Lawrence Cannon said Canadian officials "are making contact with trusted humanitarian partners with a presence in the region to identify humanitarian needs resulting from this earthquake."
Brazil's President Luiz Inacio Lula da Silva said he was "very concerned" with the situation in Haiti, including the fate of some 1,200 Brazilian members of the 7,000-strong UN Stabilization Mission in Haiti, known as MINUSTAH, which Brazil leads.
In Bogota, the president's office said Colombia was "under alert and ready to respond to the Haitian authorities' call for help," adding that the defense ministry and emergency management services were coordinating upcoming assistance efforts.
Venezuela said it would send a 50-member "humanitarian assistance team" to Haiti in the next few hours. In Panama, the country's Vice President Juan Carlos Varela pledged that his government would provide assistance to the United Nations's Office for the Coordination of Humanitarian Affairs.
U.S. never gave Afghans "blank check": Karzai
WASHINGTON: Afghan President Hamid Karzai denied on Tuesday the United States had ever given his country a "blank check" but said he was grateful for the "little money" sent by Washington to Afghanistan.
In an interview with US media, Karzai was asked how he felt when he heard U.S. President Barack Obama criticize his government last month for being corrupt and vow there would no longer be a "blank check" for U.S. assistance.
"We really never had a blank check," Karzai said. "But we're grateful even for the little money that's come to Afghanistan, even for the little help that's come to Afghanistan."
"We have no right over the American people to pay for us or to help us. This is our country. We must protect it ourselves and provide for it ourselves," Karzai said.
"So help from America is welcome. And even a penny is worth billions for us. In terms of gratitude, we are grateful for the help that we have received."
In a speech last month announcing that he would send 30,000 more U.S. troops to Afghanistan, Obama put pressure on Karzai to root out corruption in his administration.
Since the United States led an invasion of Afghanistan in 2001 to topple the Taliban movement after the September 11 attacks, Washington has spent about $171.4 billion to keep the Taliban at bay. About 900 U.S. soldiers have died fighting the Taliban and al Qaeda in Afghanistan.
In his troop increase announcement last month, Obama vowed to begin bringing U.S. soldiers home in 18 months and start handing off responsibilities to Afghan forces.
Clinton gets no commitment from Japan on air base row
HONOLULU: Secretary of State Hillary Clinton pressed her Japanese counterpart here Tuesday to stick by a deal on moving a controversial US air base, but got no commitment from Tokyo during the meeting. At hastily-arranged talks with Foreign Minister Katsuya Okada in Honolulu, Clinton said she had stressed the need to resolve the fate of the Futenma base on the southern Japanese island of Okinawa.But she also expressed confidence the row would be resolved, saying Tokyo understands that the 50-year-old alliance with Washington is "fundamental to the future" of both Japan and the region. The meeting with Okada was added to the beginning of an Asia tour by Clinton amid growing concerns of a rift between Washington and the new center-left coalition government in Tokyo, which includes elements opposed to the presence of the US base on Okinawa. "I have stressed again today... that it is important to move on Futenma," Clinton said at a press conference with Okada in the garden of a luxury hotel on the Pacific Ocean. She reiterated the US view that a 2006 base deal known as the "realignment road map" is "the way forward".
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