Tuesday 24 April 2012

LATEST NEWS UPDATE: 25.04.2012


PM Gilani contempt verdict on Thursday

ISLAMABAD: Pakistan's Supreme Court will announce its verdict in a contempt of court case against Prime Minister Yousuf Raza Gilani on Thursday, his lawyer said on Tuesday.
Gilani was charged with contempt by the country's highest court in February for refusing to write to the Swiss authorities to ask them to re-open corruption cases against President Asif Ali Zardari.
'The court will announce judgment in the case on Thursday (April 26)', Gilani's counsel Aitzaz Ahsan told reporters in Islamabad.
Asked if the prime minister will appear in person, he said: 'I will inform him about it today and he will inshallah (God willing) come to the court.'
He said the maximum punishment Gilani could face if convicted was six months in prison, but he was hopeful the judges would acquit his client.
Gilani is Pakistan's first sitting premier ever to face criminal charges and if he is given a jail sentence he could be disqualified from office.
The Swiss shelved the cases against Zardari in 2008 when he became president and a prosecutor in Switzerland has said it will be impossible to re-open them as long as he remains head of state and is immune from prosecution.
Gilani insists that Zardari has full immunity. But in December 2009 Pakistan's Supreme Court overturned a two-year political amnesty that had frozen investigations into Zardari and other politicians.
Zardari and his late wife, former premier Benazir Bhutto, were suspected of using Swiss accounts to launder about $12 million allegedly paid in bribes by companies seeking customs inspection contracts in the 1990s.
The president, who is so tainted by graft allegations that his nickname is 'Mr 10 Percent', has already spent 11 years in jail on charges ranging from corruption to murder. AGENCIES


LATEST/BRIEF  NEWS:



·      Pakistan successfully test-fires Hatf IV
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Business News


 Wed, 25 Apr 2012

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Crude advances in Asia on supply concerns
SINGAPORE: April 25, 2012 (AFP) - Oil prices were higher in Asian trade Wednesday, buoyed by a shutdown of Britain

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Asian markets gain ahead of key bank meetings
HONG KONG: Asian markets rose on Wednesday as dealers await key policy meetings in the United States and Japan thi

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Euro inches higher in Asian trade
TOKYO: The euro inched higher in Asian trade Wednesday as traders watched for any signs of monetary easing from th

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Apple crushes Wall Street targets, dispels iPhone fears
SAN FRANCISCO: Apple Inc s quarterly results beat Wall Street estimates on stronger-than-expected demand for the i

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MCB declares 30% cash dividend on higher PAT
KARACHI: MCB Bank Ltd has reported a higher profit after tax of Rs 5.644 billion during the quarter ending March 3

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KSE buoyant, 100-Index hits 14,132
KARACHI: Bulls continued to rule the Karachi Stock Exchange (KSE) on the second consecutive day, contributing 49 p

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Facebook beefs up patent arsenal ahead of IPO
SAN FRANCISCO: Facebook struck a $550 million deal Monday to get its hands on hundreds of AOL patents from Microsoft

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Euro inches lower in Asian trade
TOKYO: The euro inched lower in Asian trade on Tuesday amid political uncertainty in Europe, while the yen gained

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Asian markets mixed, European fears drag sentiment
HONG KONG: Asian markets were mixed as profit-taking Tuesday after the previous day s big losses was countered by

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Oil up as concerns over slowing China growth ease
SINGAPORE: Oil prices edged higher in Asian trade Tuesday on easing concerns about a sharp economic slowdown in Ch

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Countrywide air ticket sales drop by 35pc
KARACH: Air travel within the country has plummeted by a record 35 percent after the recent Bhoja air disaster and

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PASSCO to start wheat procurement from May 1
LAHORE: Pakistan Agricultural Storage and Services Corporation (PASSCO) has announced to commence wheat procurement

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US stocks mired in red on Europe fears
NEW YORK: US stocks closed lower but off earlier steep losses Monday as Wall Street focused on European political

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Google raises bounty on software bugs
SAN FRANCISCO: Google on Monday raised to $20,000 its bounty on software bugs that hackers could exploit for cyber

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Stocks end on 4-yr high; rupee weakens
KARACHI: Led by the cement sector, Pakistani stocks rose 1 percent to end at a near four-year-high on Monday, close


MOHAMMED SALEEM MANSOORI

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