Thursday 27 September 2012

LATEST NEWS UPDATE: 28.09.2012



US, Pakistan called off military talks due to protests: US
WASHINGTON: A planned meeting between US and Pakistani military chiefs was postponed this week due to a wave of violent anti-American protests, the top-ranking US officer, General Martin Dempsey, said on Thursday.
Dempsey revealed at a news conference that he had scheduled a discreet trip to Pakistan to meet chief of the army staff, General Ashfaq Kayani, but the two agreed to call off the talks amid unrest on the streets of Pakistani cities.
“I was originally planned to go to Pakistan to meet with General Kayani, and because of some of the issues related to that film, he and I discussed postponing that visit — mostly so that I would give him the time to deal with the issues he was dealing with internally,” said Dempsey, chairman of the US Joint Chiefs of Staff.
Pakistan has been rocked by days of violent protests in its major cities as demonstrations have swept Muslim countries in the Middle East, North Africa and South Asia over an anti-Islam film, a crude production by American amateurs.
Instead, Dempsey said he extended an unannounced visit to Afghanistan, visiting the southern provinces of Kandahar and Helmand.
The general did not take reporters with him and his office made no public announcement about his Afghan trip.
Dempsey has adopted a lower profile than his media-friendly predecessor, Admiral Mike Mullen, who at times publicly diverged from the White House’s stance on some issues.
Unlike the previous chairman, Dempsey has taken a number of overseas trips without any press documenting his visits, including a meeting of Nato officers in Romania last week.
The general denied that he had kept the trip under wraps because of any doubts about the war effort in Afghanistan, where a rise in insider attacks by Afghan forces has caused concern at the Pentagon.

LATEST/BRIEF  NEWS:

PAKISTAN

o    Capital on high alert ahead of Friday
o    ECP can deploy army to ensure fair polls
o    'SC hit blind alley after ousting a PM'
o    WC T20: Pakistan to face S.Africa today
o    Two tortured dead bodies found from Karachi
o    Six more shot dead in Karachi
o    Zardari, Karzai discuss Afghan peace on UN sidelines
o    Army Chief Kayani to visit Russia in October’s first week
o    Much-awaited Putin visit postponed
o    Dr. Arslan case: Commission issues new notice after rejecting
Malik Riaz’s brief reply
o    Traders support strike call
o     Pakistan plans bus route to UK
o    Pakistan fighting polio on piority basis: Zardari
           

WORLD

o    Euro zone economic outlook darkens with fall in confidence
o    Insight: As cotton surged, China trader amassed $510 million bet
o    Assange mocks Obama via video at U.N. event
o    NFL referees agree deal with league to end lockout
o    China official says spat with Japan derails free trade talks
o    New home sales dip, but prices scale five-year high
o    Losing ground in Ohio, Romney says his "heart aches" for jobless
o    Anti-cuts protests erupt on streets of Athens and Madrid
o    Freddie Mac wins dismissal of shareholder lawsuit
o    Ahmadinejad denounces "uncivilized Zionists," urges new order
o    Noda vows no compromise as Japan, China dig in on islands row
o    U.S.-led "war on drugs" questioned at U.N.
o    Court to hear appeal over federal gay marriage law
o    Islamist wins delay in UK extradition to United States
o    Ahmadinejad denounces "uncivilized Zionists," urges new order
o    Rajoy inches toward aid as protests seethe
o    Exclusive: Vitol trades Iranian fuel oil, skirting sanctions
o    In Ohio, Romney says his "heart aches" for jobless
o    Insight: U.S. probe of HSBC tangled up in bureaucracy, infighting
o    Death of rebel who caught Gaddafi stokes Libya tensions
o    China, Japan stand their ground in islands row, but keep talking
o    Syrian rebels bomb security building in Damascus
o    Spain prepares more austerity, protesters battle police
o    Clashes erupt as thousands of Greeks protest austerity
o    Exclusive: IMF, EU clash over Greece's bailout prospects
o    Mortgage applications rose as rates hit new lows: MBA
o    Facing tough road in Ohio, Romney and Ryan embark on bus tour
o    Obama at U.N. calls for end to intolerance, warns Iran
o    Japan opposition gives ex-PM Abe second chance amid China feud
o    Exclusive: Clinton presses Rwanda, DRC leaders on border crisis
o    Syrian rebels bomb security building in Damascus
o    Lehman to pay creditors another $10.5 billion
o    EU rejects U.S. claim to have weaned Boeing off subsidies
o    Egypt's Mursi calls for cooperation between cultures
o    Home prices rise for sixth month, a sign of recovery
o    Lehman to pay creditors another $10.5 billion
o    Judge asks input on possible Pennsylvania voter ID injunction
o    Five-year-olds put to the test as kindergarten exams gain steam
o    Obama takes world stage to fend off Romney attacks
o    Libyan government puts army in charge of Benghazi militias
o    Jefferies cuts HP on weak PC business, risk from mobile push
o    Swatch CEO says record sales target will be a "fight"
o    China underestimated global slowdown, key to rates: central bank adviser
o    Hungary central bank's inflation report confirms deep split
o    Bank of England urges banks to raise capital from markets
o    BoE urges banks to raise capital from markets
o    Spain to pass reforms, budget cuts with eye on aid
o    Spanish deposit flight continues in August
o    Italy bonds find buyers despite Spanish storm
o    French minister races to save symbolic steel plant
o    Fiat CEO says has not asked for aid from Italy, EU
o    Dubai state firm to manage troubled Zabeel: sources
o    Shares edge higher, euro flat ahead of Spain budget
o    China steelmaker, miners cut output as slowdown bites
o    China's CNOOC confident on Nexen deal after Canada talks: sources
Business News:
 FBR urged to extend date for tax returns
KARACHI, Sept 27: The Karachi Tax Bar Association (KTBA) has urged the Federal Board of Revenue (FBR) to extend the last date for filing of tax returns for the tax year 2012. The last date announced is September 30, 2012.
The tax bar submitted that taxpayers and tax consultants are facing multiple problems in preparing tax returns on the e-portal of the FBR which is not only consuming a lot of time but there is a major hassle in respect of filing of the returns.
The KTBA gave a long list of problems and irritants being faced by the taxpayers and tax consultants while filing income tax returns for the year 2012.
Most of these problems and irritants are related to FBR’s e-portal which is not functioning properly and dose not follow the Income Tax Rules 2002, governed under Income Tax Ordinance 2001.
Iqbal Ahmad Abdan general secretary of the KTBA pointed out that the issues related to tax return form IT-2 and IT-4 were raised before the FBR, but so far no solutions have been forwarded by the board.
He complained that when data is filled by a taxpayer in annexure “G” of the return form IT-2, all the data disappears when main IT-2 form is opened for making any correction. As a result taxpayer has to fill the whole annexure again to make even a minor correction.
Highlighting another problem, he said in the same annexure if a taxpayer has no business name, his/her name on the NTN should be taken as the business name in the tax return which the annexure does not entertain.
This irritant needed to be resolved at the earliest, he asserted. Similarly, he said in the tax form IT-4 which has to be filled by the retailers, its contents could not be saved until and unless the CPR number is inserted which in the opinion of the tax bar should be taken care of.
Mr Abdan stated that wealth statement form is not operative and is lengthy and cumbersome as taxpayer has to give the particulars of each and every entry under each item along with the description of the same.

EXCHANGE FOR CURRENCY NOTES:

U.S.A              95.55
S.Arabia         25.48
U.K                 154.67
Japan              1.2302
Euro               123.07
U.A.E              26.01


BULLION RATES IN RUPEES PER 10 GRAMS
KARACHI
Gold Tezabi (24-ct)          Rs 53,574
Silver Tezabi                     Rs 981.42


  Fri, 28 Sep 2012

-
Oil extends gains in Asian trade
SINGAPORE: World oil prices rose in Asian trade Friday, extending gains made in New York, as rising geopolitical t

-
Asian markets broadly up after Spain budget
HONG KONG: Asian markets mostly rose on Friday as eurozone debt concerns were eased after Spain unveiled swinging

-
KSE goes down with oil giant OGDC
KARACHI: The local capital market ended lower on Thursday, in line with market heavyweight Oil and Gas Development

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Pakistan forex reserves fall 0.14pc to $14.841 billion
KARACHI: Pakistan s foreign exchange reserves dropped to $14.841 billion in the week ending Sept 21, from $14.863

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Euro remains pressured by Spain, Greece worries
TOKYO: The euro was mixed in Asia on Thursday with investors seeking refuge in the safe-haven yen as anti-austerity

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Oil prices rebound in Asia, Europe woes cap gains
SINGAPORE: Oil prices rebounded in Asian trade Thursday on bargain-hunting but escalating turmoil in debt-wracked

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CNG stations closed for 4th consecutive day in Lahore
LAHORE: CNG filling stations in Lahore remained shut for the fourth consecutive day in Lahore, after observing thr

-
Rupee ends weaker vs dollar; o/n rates flat
KARACHI: In the currency market on Wednesday the rupee ended weaker at 94.72/94.77 to the dollar compared to Tuesday

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KSE up as investors defy political uncertainty
KARACHI: Pakistani stocks ended higher on Wednesday, as investors showed more buying interest despite ongoing political

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20 kitchen items? prices surged last week
ol an

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Oil down in Asia on US stimulus doubts
SINGAPORE: Crude fell in Asia on Wednesday as doubts over the efficacy of fresh US economic stimulus surfaced following

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Pakistan to return $100.5 m to IMF on Oct 2
ISLAMABAD: Pakistan will be making a repayment of 100.5 million dollars on October 2 to International Monetary Fun

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Euro weak on persistent debt woe
TOKYO: The euro was held below $1.30 in Asian on Tuesday after falling in New York on persistent concerns over Europe

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Asian markets mostly lower, Europe fear returns
HONG KONG: Asian markets were mostly lower Tuesday, with traders spooked by news that German consumer confidence h

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Oil prices rise on calls for more Iran sanctions
SINGAPORE: Crude prices rose in Asia Tuesday after the United States, Britain, France and Germany moved to apply m
MOHAMMED SALEEM MANSOORI

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