LATEST NEWS UPDATE: 31.05.2012

US military trainers trickle back into Pakistan

WASHINGTON: The United States has sent a handful of military trainers back into Pakistan in a sign the two nations may be able to achieve some low-level cooperation against militants despite a string of confrontations that have left Washington s relations with Islamabad in crisis.Fewer than 10 US special operations soldiers have been sent to a training site near the border city of Peshawar, where they will instruct trainers from Pakistan s Frontier Corps in counter-insurgency warfare, a US official said.The number of American military instructors in Pakistan dropped to zero after US aircraft killed 24 Pakistani soldiers in late November.'I wouldn t call this a watershed moment (but) it s not insignificant that this is happening,' the US official said on condition of anonymity.'At a strategic level, the relationship is still at a very rough place,' the official said. 'There s a lot more we want to do to improve it, but (the trainers return) is an important sign that at least in some areas we re getting a healthy sense of normalcy.' (AFP)

Top Pentagon official returning to lead talks with Pakistan

WASHINGTON: US Assistant Defence Secretary Peter Levoy is returning to Islamabad next week to lead the American team which is negotiating a resolution to the Nato routes dispute with Pakistan, diplomatic sources told Dawn.
Mr Levoy, who looks after Asia and Pacific security affairs at the Pentagon, led the US contingent at an April 26 meeting with Foreign Minister Hina Rabbani Khar in Islamabad as well. The US media reported later that Mr Levoy and his team left the meeting abruptly because of certain remarks made by the foreign minister.
The remarks, according to the media reports, were linked to Pakistan’s demand for an apology from the United States over the Nov 26 air raid that killed 24 Pakistani soldiers and prodded Islamabad to close Nato supply routes to Afghanistan.
Since then Pakistan has stopped insisting on an apology as a precondition for reopening the routes. The concession enabled President Asif Ali Zardari to attend the May 20-21 Nato summit in Chicago but his inability to resolve the route dispute further complicated already tense relations between the two countries.
The two sides resumed their contacts after Mr Zardari returned home and because of the bitterness created by the April 26 incident at the Pakistan Foreign Office, this time Islamabad allowed its embassy in Washington to play a lead role in the talks.
The two sides are now working on a compromise formula to resolve the supply routes dispute which will require the United States to rebuild the highways damaged by Nato convoys.
In return, Pakistan will drastically reduce its demand for an increase in charges for overland deliveries of US military supplies to Afghanistan.

LATEST/BRIEF  NEWS:

·        No US military trainers in Pak: ISPR

·       Rangers man among 4 killed in Karachi

·       US seeks clarity on Dr Afridi reports

·       Fiscal deficit 2011-12 hits 6% of GDP

·       Economic Survey 2011-12 today

·       N Korea proclaims nuclear status

·       India fears for Afghanistan after Nato pullout

·       Mubarak faces verdict in murder trial

·       Iraq wraps up energy auction after slow first day

·       Oil stays below $90 as Spain worries intensify

·       Oil stays below $90 as worries intensify

Business News:

  

 Thu, 31 May 2012

-Oil stays below $90 as Spain worries intensify
SINGAPORE: Oil extended losses in Asian trade Thursday, with prices hitting multi-month lows as Spain s banking world 

-Asian markets, euro hit by Spain fears
HONG KONG: Asian markets tumbled for a second day and the euro sank to new lows as Spain s banking crisis threaten 

-Euro under pressure on Spain worries
TOKYO: The euro plumbed two-year lows in Asia on Thursday as nervous traders ditched the single currency for safer 

-Bears rule supreme at Islamabad Stock Exchange
ISLAMABAD: Islamabad Stock Exchange (ISE-10) here on Wednesday witnessed bearish trend s the index was down by 32 

-Local gold down at Rs 47,314/10gm
KARACHI: Gold slipped by 171 to close at Rs 47,314 per 10 grams in the local market Wednesday as its international 

-Lahore stocks lose 103.86 points
LAHORE: Bearish trend prevailed in Lahore Stock Exchange on Wednesday as it shed 103.86 points, following the LSE- 

-Dr Shakil Afridi jailed for ties with Lashkar-e-Islam: court
PESHAWAR: Dr Shakil Afridi who helped the United States find Osama bin Laden was imprisoned for aiding militants a 

-Free-falling rupee weighs on Karachi stocks
ISLAMABAD: The Karachi Stock Exchange (KSE) dropped on Wednesday with many investors not taking risks ahead of Pak 

-FBR sets five income tax slabs for salaried class
ISLAMABAD: The Federal Bureau of Revenue (FBR) has proposed to bring the number of income tax slabs from 17 to 5 w 

-Ogra proposes slash in fuel prices
ISLAMABAD: Oil Gas Regulatory Authority (OGRA) has proposed a reduction in petroleum products prices, Geo News r 

-Dollar continues upward rally vs rupee
KARACHI: The dollar continued to make record highs against the rupee in the interbank, dealers said on Wednesday. 

-Asian markets fall on Spain bailout fears
HONG KONG: Asian markets sank Wednesday on growing concerns that Spain could be forced into seeking a bailout while 

-Oil lower amid fears of Spain bailout
SINGAPORE: Oil prices edged lower in Asian trade on Wednesday as concerns that debt-plagued Spain could be forced 

-CNG hike being included in budget recommendations
ISLAMABAD: Minister for Petroleum, Dr. Asim Hussain on Tuesday said a raise in the rate of Compressed Natural Gas 

-GST, interest rate be slashed to 10%
KARACHI: Pakistan Federation of Chamber of Commerce and Industry (FPCCI) has advised the government to bring down

MOHAMMED SALEEM MANSOORI