LATEST NEWS UPDATE: 05.07.2012

Pak-India talks on positive trajectory

NEW DELHI: India and Pakistan held a first round of foreign secretary-level talks here on Wednesday, and sources close to the discussions said they had progressed on a positive trajectory, contrary to gloomy projections made by the media.
Indian Foreign Secretary Ranjan Mathai and his Pakistani counterpart Jalil Abbas Jilani met just days after the arrest of a key suspect in the attacks on Mumbai. The issue of terrorism did figure in Wednesday’s meeting and is expected to find reference together with all the key topics discussed between the two countries in a joint statement to be issued after a final round of parleys on Thursday.
Confidence-building measures including Pakistan’s proposal to shift heavy weaponry away from the Line of Control were discussed as was the larger issue of a political settlement of the Kashmir dispute. Notifications of nuclear accidents and related emergencies were discussed in the wake of the Fukushima disaster, sources said.
They said an indication that all was well between the two sides was evident from the fact that there was no acrimony over the drafting of the statement which was almost ready, an unusual occurrence between the two.
Mr Mathai who attended a dinner hosted by Pakistan’s new envoy Salman Bashir praised the high commissioner for quickly facilitating what he said were important discussions involving two significant delegations. Mr Mathai said his mandate was an old one – to seek stable and strong ties with Pakistan. Mr Jilani said he was heartened by the positive tenor of the talks that dovetailed with the desire of the entire range of Pakistan’s leadership to improve ties with India.
Outside the precincts of Pakistan House, where Liaquat Ali Khan once lived and which now works as the sprawling residence of Pakistan’s high commissioner, the Indian media was highlighting the arrest of Abu Jundal, an alleged Indian mastermind who was deported from Saudi Arabia with a Pakistani passport. Pakistan has asked for more details in the case in order to assist with India’s quest to fix responsibility.
The suspect told Indian investigators that officials from Pakistan’s intelligence agency were present in a control room in Karachi while he and others directed attackers on the ground in Mumbai.
Last month, India and Pakistan held inconclusive talks on resolving long-standing disputes over the Siachen Glacier and the Sir Creek maritime boundary. This week’s two-day meeting is expected to prepare the agenda for talks between the countries’ foreign ministers. A date for that meeting has not been announced. A joint press conference on Thursday is expected to throw light on this.
Wednesday’s talks focussed on peace and security, including the threat posed by terrorism, the decades-old dispute over the Kashmir and confidence-building measures to push closer ties, an Indian official said.

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Business News:

EXCHANGE FOR CURRENCY

NOTES:

                        Selling T.T & O.D   Buying T.T Clean         Buying O.D/T.Chq

U.S.A.                   94.4                             94.2                                   94

U.K.                       147.92                   147.61                             147.27

Euro                       118.79                   118.54                             118.28

Japan                    1.1829                     1.1804                            1.1773

Saudi Arabia      25.17                       25.12                              25.05

U.A.E.                   25.7                        25.65                               25.58

BULLION RATES IN RUPEES

PER 10 GRAMS

KARACHI

Gold Tezabi (24-ct) Rs 49,285

Silver Tezabi            Rs 822.89

Thu, 5 Jul 2012 -Sindh CNG stations shut for 24 hours KARACHI: All the CNG filling stations in Sindh were closed from 9:00am on Thursday to 9.00am on Friday, Geo News r  -Crude prices mixed ahead of expected ECB rate cut SINGAPORE: Crude prices were mixed in Asian trade Thursday amid caution ahead of a possible rate cut by the Europe  -Sindh CNG stations to close Thursday for 24 hours br  -Oil prices down in Asia amid Iran tensions SINGAPORE: Crude prices slipped in Asia Wednesday with traders taking profit from an unexpected overnight rally sp  -Euro weakens ahead of central bank meeting TOKYO: The euro weakened against major currencies in Asian trade Wednesday before a European Central Bank policy m  -Asian markets higher on Wall Street, Europe lead HONG KONG: Asian markets rose on Wednesday following a strong lead from Wall Street and Europe and amid rising hop  -Oil prices mixed in Asia amid Iran tensions SINGAPORE: Crude prices were mixed in Asia Wednesday with traders taking profit from an unexpected overnight rally  -UAE pipeline bypassing Hormuz to fully operate in August ABU DHABI: A pipeline the UAE is building to pump oil from east coast terminals and bypass the Iran-threatened Str  -Govt approves Rs2.532b for Ramzan Package ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC) approved a relief package worth Rs2.532 billion  -Asia markets rise on hopes for central bank action e would take  -Euro weak in Asia ahead of ECB policy meeting TOKYO: The euro was weak in Asian trade on Tuesday, after the common currency rallied sharply late last week with  -Oil down in Asia on weak manufacturing data SINGAPORE: Crude prices slipped in Asian trade Tuesday as slumping manufacturing output in the world s major economy  -Judge rejects Samsung''s request to lift ban on US tablet sales SAN JOSE: A U.S. judge on Monday rejected a request by South Korea s Samsung Electronics Co. to lift a ban on U.S.  -Google sees advantage in making new gadget in US SAN FRANCISCO: When Google Inc decided to build its Nexus Q home entertainment device in Silicon Valley rather than  -Food items down after POL prices cut KARACHI: In a positive development for the inflation-stricken people, the prices of food items have started to easy

MOHAMMED SALEEM MANSOORI