Tuesday 4 December 2012

LATEST NEWS UPDATE: 04.12.2012



Pakistan, India advised to focus on trade
LAHORE, Dec 3: Pakistani businessmen must look at their Indian counterparts as collaborators and not competitors and there must an effort to chalk out plans for mutually beneficial cooperation in trade.
This was said by Synthetic and Rayon Textiles Export Promotion Council (SRTEPC), India chairman Vinod Kumar Ladia at the Lahore Chamber of Commerce and Industry (LCCI) on Monday.
On the occasion, LCCI and SRTEPC inked an MoU for the promotion of mutual relations and dissemination of trade related information.
Ladia urged both the governments to expedite normalisation of trade relations.
Stressing the need for joint ventures between the two countries, he said that both sides have a lot to offer in a large number of sectors.
The SRTEPC chairman said that as many as 35 leading Indian textile companies were exhibiting their latest range of products.
“We are offering Pakistani businessmen a unique opportunity and this is ample proof that Indian businessmen are more than willing to take their Pakistani counterparts along,” he added.
He said that INTEXPO 2012 has set the stage to develop close linkages between the private sectors representatives of two countries.
LCCI President Farooq Iftikhar said in his welcome address that INTEXPO has a unique importance and significance because it was being organised at a time when both the countries were in the process of finalising various moves particularly in the context of granting MFN status.
LCCI Senior Vice-President Irfan Iqbal Sheikh said that recent productive developments between the two governments would help fortify economic and commercial relations between two countries.
LCCI Vice-President Mian Abuzar Shad said  improving trade ties would help resolve larger political issues that had been obstructing friendly and cordial relations and would bring peace and prosperity in the region.
LATEST/BRIEF  NEWS:

PAKISTAN (Brief News):
o   Pakistan offers S. Korea to invest in Pakistan
o    President Zardari holds talks with South Korean President
o   Asif returns home after winning World Snooker Championship
o   Karachi: cracker blast injures four in Banaras
o    US fines Chinese firm for re-sales to Pakistan nuclear plant
o    KMC to renovate Clifton Beach Park, Bagh Ibn-e-Qasim
o   Violent protest as cleric among 7 killed in Karachi
o    Taliban collect funds from Karachi: Musharraf


WOLRD(Brief News):
o   Even without U.S. "cliff," world economy teeters
o   Egypt's top court shuts down, blames protesters
o   Greece launches bond buyback offer, tops expectations
o   North Korea urged to drop rocket launch plan
o   Air raid, explosions hit outskirts of Syrian capital
o   Netanyahu brushes off world condemnation of settlement plans
o   Geithner predicts Republicans will yield on taxes
o   Analysis: In U.S. "fiscal cliff" maneuvers it's all about the holiday
o   Factory surveys show China reviving, global rebound fragile
o   EADS confirms shareholder shake-up talks
o   Insight: Krawcheck, possible SEC head, raises Washington image
o   Analysis: Greek deal puts euro zone in slow recovery room
o   Netanyahu brushes off world condemnation of settlement plans
o   Starbucks says may pay more UK tax
o   NATO aims to repair Russia ties despite Patriot row
o   China PMI survey shows growth reviving, but uneven
o   Egypt's top court shuts down, blames Islamist protesters
o   At least three dead after Japan tunnel collapse: TV
o   Syrian forces pound Damascus suburbs, flights to resume
o   Israel withholds Palestinian funds after U.N. vote
WOLRD BUSINESS(Brief News):
o   EADS confirms shareholder shake-up talks
o   Greek debt cut deal paves way for recovery: central bank
o   Credit Suisse boss under pressure despite outsmarting rival
o   HSBC names new head of retail banking as Thurston retires
o   Bank of England credit scheme sees moderate initial take-up
o   UK manufacturing contraction eases, orders still fall
o   Greece launches bond buyback offer, tops expectations
o   UK manufacturing slows less than feared in November: PMI
o   Factory surveys show China reviving, global rebound fragile
o   Euro, shares rise on signs of Chinese growth
o   Zambia power firms seeks $2 bln from UK, US investors
o   UBS near $450 million settlement with U.S., UK over Libor: NYT
o   Small-business borrowing surges in October
o   Sudan budget to reach up to $4.6 bln in 2013: report
o   Tanzania seeks 315,000 T oil products for January
Business News:
Pakistan
EXCHANGE FOR CURRENCY NOTES:

U.S.A              97.36
S.Arabia         25.96
U.K                 156.17
Japan              1.1809
Euro               126.96
U.A.E              26.51

BULLION RATES IN RUPEES PER 10 GRAMS
KARACHI
Gold Tezabi (24-ct)     Rs 53,914
Silver Tezabi               Rs 994.42



Tue, 4 Dec 2012

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MOHAMMED SALEEM MANSOORI

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