Tuesday 6 November 2012

LATEST NEWS UPDATE:07.11.2012



Obama clinches second term

US President Barack Obama has swept to re-election Tuesday according to US media reports, creating history again by defying the undertow of a slow economic recovery and high unemployment to beat Republican foe Mitt Romney.
This is only the second time in several decades that a Democrat has won a second term in the White House.
Crowds went wild across the country as all the major US television networks projected that Obama would win at least 275 electoral votes – enough to defeat his Republican challenger Mitt Romney.
Obama grabbed Wisconsin, Michigan, Pennsylvania and New Hampshire, dramatically shrinking the Republican’s chances.
“This happened because of you. Thank you,” Obama tweeted to his 22 million followers on Twitter as a flurry of states, including Iowa, which nurtured his unlikely White House dreams suddenly tipped into his column.
With a clutch of swing states, including Florida and Virginia still to be declared, Obama already had 275 electoral votes, more than the 270 needed for the White House and looked set for a comfortable victory.
There was a sudden explosion of jubilation at Obama’s Chicago victory party as the first African American president, who was elected on a wave of hope and euphoria four years ago, booked another four years in the White House.
Romney’s aides had predicted that a late Romney wave would sweep Obama from office after a single term haunted by a sluggish recovery from the worst economic crisis since the 1930s Great Depression and high unemployment.
But a huge cheer rang out at Obama headquarters when television networks projected Obama would retain Pennsylvania and its 20 electoral votes, and the party grew wilder as they called Wisconsin and Michigan.
The mood at Romney headquarters in Boston however had grown subdued throughout the evening as partisans stared at their smart phones.
Disappointed Republicans were seen leaving what had been billed as a celebration of Romney’s expected triumph in central Washington.
Defeats in New Hampshire, where Romney has a summer home and Wisconsin, the home of Republican vice presidential nominee Paul Ryan were especially sickening for Republicans.
Early signs were that the election, while a building triumph for Obama would do little to ease the deep polarization afflicting US politics, as Republicans racked up huge margins in safe states, though struggled in battlegrounds.
Exit polls appeared to vindicate the vision of the race offered by Obama’s campaign, when top aides predicted that Obama’s armies of African American, Latinos and young voters would come out in droves.
Polls also showed that though only 39 percent of people believed that the economy was improving, around half of Americans blamed President George W.
Bush for the tenuous situation, and not Obama.
The president, who made history by becoming America’s first black president after a euphoric victory, carved a new precedent on Tuesday by defying the portents of a hurting economy to win a second term.
He awaited his fate in his hometown of Chicago, while Romney, a multi-millionaire former investment manager and Massachusetts governor was laying low in a hotel in Boston awaiting results.
As expected, television networks projected that Republicans would win the House of Representatives.
Democrats clung onto the Senate, and retained a seat in Missouri, where Senator Claire McCaskill fended off a challenge by Representative Todd Akin, whose remarks about rape and abortion sparked national outrage.
Both presidential candidates had earlier marked time while voters dictated their fates.
Romney appeared caught up in the emotion of seeing his name on the ballot for President of the United States and also saw an omen in a huge crowd that showed up at a multi-story parking lot to see his plane land at Pittsburgh airport.
“Intellectually I felt that we’re going to win this and I’ve felt that for some time,” Romney told reporters on his plane.
“But emotionally, just getting off the plane and seeing those people standing there… I not only think we’re going to win intellectually but I feel it as well.”While Romney penned his victory speech, Obama took part in his election day tradition of playing a game of pick-up basketball with friends, including Chicago Bulls legend Scottie Pippen, after visiting a campaign office near his Chicago home.
The president, who like a third of Americans voted before election day, congratulated Romney on “a spirited campaign” despite their frequently hot tempered exchanges.
“I know that his supporters are just as engaged and just as enthusiastic and working just as hard today. We feel confident we’ve got the votes to win, that it’s going to depend ultimately on whether those votes turn out,” he said.
“I think anybody who’s running for office would be lying if they say that there’s not some butterflies before the polls come in because anything can happen,” the president added later in a radio interview.
For an in-depth look at the US presidential elections.

LATEST/BRIEF  NEWS:

PAKISTAN

Peshawar blast kills two, 20 injured
PESHAWAR: A blast near a Frontier Constabulary (FC) vehicle in Qissa Khawani Bazar area of Peshawar killed two people and injured 20 others on Wednesday, DawnNews reported.
Rescue and security teams reached the site of attack near the Razzak Police station.
Security forces cordoned off the area as investigations into the incident went underway.
Brief News:








o   4 including SP killed in Peshawar blast
o   India accuses Pakistan of safe havens for terrorists
o   India claims Pakistan refused flag meeting
o   Karachi firing: 16 shot dead in last 24 hours
o   Rangers firing kills 2 including Geo Employee
o    Chiefs have no right to issue political statements, says Aitzaz Ahsan
o   PM Raja takes notice of target killings in Karachi
o   President Asif Ali Zardari will hold wide-ranging talks with the leadership of Qatar in Doha today.
o   MQM's referendum now on 14th





WOLRD:
  • Israeli officials to meet Potash executives over ICL bid
  • Networks project Obama has won the election
  • Luxury carmaker BMW starts to feel industry pain
  • BMW aims for 8-10 percent Autos EBIT margin in 2013
  • Bowleven in partnership with Petrofac to develop Cameroon blocks
  • AngloGold suspends production at S.African mine
  • EU offers dire predictions for Spain growth: report
  • House prices fall at faster rate in October - Halifax
  • China row drags on Nissan, cuts FY forecasts
  • Shares steady before U.S. vote, euro slips on Greece
  • S.Africa stocks at fresh lifetime high
  • Egypt's EGAS pushes back bidding deadline to February
  • M&S profits fall on clothing issues, economy
  • Gold Fields declares end to S.Africa strikes
  • Mozambique inflation quickens to 1.8 pct y/y in Oct
  • Mauritius inflation falls to 4.3 pct in October: stats office


Business News:
Pakistan
EXCHANGE FOR CURRENCY NOTES:

U.S.A              96.96
S.Arabia         25.85
U.K                 155.04
Japan              1.2100
Euro               124.08
U.A.E             26.40



BULLION RATES IN RUPEES PER 10 GRAMS
KARACHI
Gold Tezabi (24-ct)        Rs 52,971
Silver Tezabi                   Rs 938.57



 Wed, 7 Nov 2012

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Dollar weakens against yen on US poll forecasts
TOKYO: The dollar weakened in Asian forex markets Wednesday as US media reports pointed to a victory for President

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Asian markets cautious as US vote results come in
HONG KONG: Asian markets were mostly lower on Wednesday as traders awaited the outcome of a knife-edge US presiden

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KSE benchmark 100-share index sheds 105 points
KARACHI: The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.65 percent, or 105.22 points, lower at

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Wall Street backs Romney
NEW YORK: President Obama and Mitt Romney may be in a dead heat as Americans headed to the polls on Election Day,

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Dollar mixed in Asia ahead of US election
TOKYO: The dollar was mixed in Asian trade Tuesday after hitting a near two-month high against the euro on worries

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Oil down in Asia on eve of US presidential vote
SINGAPORE: Oil fell in Asia Tuesday with trading subdued ahead of knife-edge US presidential elections and the sta

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Apple sells 3 million iPads over first weekend
SAN FRANCISCO/NEW YORK: Apple Inc sold 3 million of its new iPads in the first three days the tablet computers wer

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KSE ends record high on second straight session
KARACHI: The Karachi Stock Exchange (KSE) benchmark 100-shareindex ended 0.34 percent, or 54.81 points, higher at

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Sindh minister yields to transport mafia
KARACHI: Following reduction in CNG prices, the issue of a proportionate cut in transport fares still could not be

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CNG price row piles miseries on people
KARACHI: Most of the CNG stations in the mega-metropolis city here remained closed even today, as the travelers, c

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Asian markets mixed ahead of US election
HONG KONG: Asian markets were mixed on Monday as better-than-expected US jobs figures were offset by caution ahead

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Dollar firm in Asian trade ahead of US election
TOKYO: The dollar was firm in Asian trade Monday ahead of a nail-biter US presidential election and after an upbea

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Oil up in Asia on China non-manufacturing data
SINGAPORE: Crude prices rose in Asia Monday with a pick-up in China s services industry providing support ahead of

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US fiscal cliff, Europe debt woes worry G20
MEXICO CITY: Finance chiefs of leading economies pressed the United States on Sunday to avert a rush of spending c

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90pc CNG pumps still shut after weekly closure
KARACHI: Commuters in Pakistan s economic hub are facing severe hardship as ninety percent of the total pumping st









MOHAMMED SALEEM MANSOORI

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