Tuesday, 16 October 2012

LATEST NEWS UPDATE: 17.10.2012



Pakistan, Iran vow to jointly pursue major projects
BAKU: President Asif Ali Zardari on Tuesday called for speeding up work on joint projects like the Iran-Pakistan gas pipeline, electricity transmission lines and rail and road schemes.
During a meeting between President Zardari and his Iranian counterpart Mahmoud Ahmadinejad on the sidelines of the 12th ECO summit, the two sides discussed bilateral, regional and international issues.
From the Pakistani side, the meeting was also attended by Foreign Minister Hina Rabbani Khar, Senator Haji Mohammad Adeel, Inayatullah Kakar and Ambassador to Azerbaijan Alamgir Babar.
The president noted that relations with Iran were growing steadily and expressed a desire for more collaboration in trade and investment, energy and connectivity to bring the two peoples closer. He said greater interaction between the leadership and the two nations would not only strengthen historical, cultural and religious bonds but would also help them to benefit from each other’s resources and expertise.
President Zardari said there was a huge potential for trade between the two countries and called for concessions like preferential tariff and free trade arrangements to take the volume or bilateral trade to $10 billion.
“The agreement on export of wheat and rice to Iran is a test case for our barter trade and if successful, it can be replicated in other areas.”
President Zardari called for removing tariff and non-tariff barriers and identifying alternative arrangements to expand bilateral trade.
Asif Zardari and President Ahmadinejad called for expediting work on projects like the Iran-Pakistan gas pipeline, the 1000MW Taftan-Quetta power transmission line, 100MW Gwadar power supply project, construction of Nushki-Dalbandin section of Quetta-Taftan highway and upgradation of Quetta-Taftan railway track.
Issues related to visa facilitation and opening of new border posts at Mand-Pishin and Gabd-Rimdan to connect Karachi and Gwadar with Chah Bahar and Bandar Abbas through the Coastal Highway were also discussed. President Zardari said Pakistan was concerned over the deteriorating situation in Syria. “We believe that stability in this region is important for peace in the region and beyond.”
He said Pakistan desired an immediate end to the bloodshed in Syria and would continue advocating principles of non-intervention and non-interference in the internal affairs of states.
The president said Pakistan supported independence, sovereignty and territorial integrity of Syria and that it would continue supporting any initiative which could provide political space to Syrian parties for bringing peace and stability in the country.
Mr Zardari reiterated Pakistan’s stance to support an Afghan-led and Afghan-owned reconciliation process.—APP
LATEST/BRIEF  NEWS:

PAKISTAN

o   More than 2 dozens held in Karachi
o   Imran conditionally supports NWA op
o   Malala ward: Intruders attempt averted
o   Nawaz returns home from Italy
o   Former Sindh governor Hakeem Saeed’s anniversary today
o    Attempt on Malala is an attack on region’s future: Zardari
o   Eidul Adha to fall on October 27 in Pakistan: astronomers
o   Karachi unrest: Eight arrested in Orangi Town action
o   Pakistan must take action against extremists: Hillary
o   US, others behind Balochistan issue: Iranian diplomat



WORLD








o   Mattel tops estimates on price increases, cost cuts
o   Stock futures edge higher ahead of key earnings reports
o   JA Solar faces possible delisting from Nasdaq
o   Sudan aims to raise oil output by 50 pct in Q1: min
o   Mauritius FinMin says strong rupee to cut 2012 GDP
o   Oil eases towards $115, amply supply weighs
o   European shares, euro higher as risk appetite grows
o   Germany's Schaeuble urges big leap forward in euro integration
o   Finnish PM worried over two-track Europe
o   Instant View: Euro zone consumer inflation steady at +2.6 percent in September
o   ZEW economists: euro zone still biggest risk to Germany
o   Japan's Softbank snaps up Sprint in $20 billion deal
o   Insight: Spain bank rescue signals legal battle for duped savers
o   Greece prepares second wave of privatizations
o   UK plus-size retailer N Brown eyes "huge" U.S. market
o   Paul Ryan's charms fall flat in Irish homeland
o   Races tight, Pennsylvania reclaims "swing state" status: poll
o   EU sanctions target Iran oil, gas, tanker companies
o   Karadzic denies Bosnia war crimes as he starts defense
o   Coca-Cola third-quarter profit rises
o   "I take responsibility" for Benghazi: Clinton
o   Germany's Schaeuble urges big leap forward in euro integration
o   Pakistani girl shot by Taliban can recover, doctors say
o   Austerity may have hurt UK growth more than predicted
o   Insight: Spain bank rescue signals legal battle for duped savers
o   Greece prepares second wave of privatizations
o   Insight: Could Obama's "ground game" clinch the election?
o   Japan's Softbank snaps up Sprint in $20 billion deal
o   Fed officials offer divergent views on inflation risks
o   Obama keeps small lead on Romney, debate bleeding stemmed: poll
o   U.S. economists win Nobel for applying match-making
o   Meningitis outbreak expands to 15 states with Pennsylvania case
o   Michelle Obama's motorcade escorts injured in Ohio crash
o   Exclusive: U.S. officials unhappy with handling of Benghazi suspects in April attack
o   Romney raised $170 million in September, trails Obama
o   Retail sales point to stronger economic growth
o   Obama keeps small lead on Romney, debate bleeding stemmed: poll
o   Italy cruise ship's captain tells survivors: I'm sorry
o   Michelle Obama's motorcade escorts injured in Ohio crash
o   U.S. economists win Nobel for applying match-making
o   Shot Pakistani girl can recover, UK doctors say
o   Sex scandal brings negative rating outlook to Penn State
o   Romney raised $170 million in September, trails Obama
o   Guantanamo hearing grows heated at mention of 'torture'
o   Peace envoy seeks Iranian help for Syria ceasefire
o   ACLU sues Morgan Stanley for racial bias over mortgages
o   More drugs may be linked to meningitis outbreak: FDA
o   Japan's Softbank snaps up Sprint in $20 billion deal
o   Scotland seals terms of historic independence vote
o   EU tightens Iran sanctions, Ashton sees more talks
o   Magnitude 5.5 tremor shakes Guatemala, no damage reported
o   Supreme Court to weigh Arizona voter registration case
o   Citigroup's margins rise, results beat expectations
o   Exclusive: Study shows $1.2 trillion gap for public pensions
o   Costa Concordia's captain tells survivors: I'm sorry

Business News:
EXCHANGE FOR CURRENCY NOTES:

U.S.A              96.25
S.Arabia         25.67
U.K                 154.68
Japan              1.2212
Euro               124.78
U.A.E             26.21

BULLION RATES IN RUPEES PER 10 GRAMS
KARACHI
Gold Tezabi (24-ct)        Rs 53,400
Silver Tezabi                   Rs 977.14



Tue, 16 Oct 2012

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CAA CY earns over Rs8b profit
KARACHI: Civil Aviation Authority (CAA) has earned a profit of over Rs8 billion during the current year (CY), in s

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Euro firms in Asia on easing Greece worries
TOKYO: The euro strengthened in Asian trade on Tuesday as sentiment on debt-addled Greece improved, while the doll

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Oil mixed in Asia
SINGAPORE: Crude was mixed in Asia on Tuesday with global economic concerns putting a lid on prices which were sup

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US exports to Iran rise nearly one-third despite sanctions
WASHINGTON: U.S. exports to Iran rose by nearly a third this year, chiefly because of grain sales, according to U.

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KSE 100-share gains 48 points
KARACHI: The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.31 percent, or 48.54 points, higher at

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Sindh flourmills get wheat short of demand
KARACHI: Sindh wheat supply price per 100 kilo is higher by Rs50 than that of Punjab, while the Sindh food department

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Euro weakens in Asia, eyes on EU summit
TOKYO: The euro weakened in Asia on Monday as moved out of the common currency ahead of a European summit later in

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Asian markets slip, China growth data in focus
HONG KONG: Asian markets fell Monday following a soft lead from Wall Street, while better-than-expected Chinese tr

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Oil down in Asia on softer global demand forecast
SINGAPORE: Oil was down in Asia on Monday after the International Energy Agency (IEA) cut its global crude demand

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Petrol down Rs2.09, diesel up Rs3.16/ltr
ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) Sunday notified the revision of prices in petroleum product

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POL prices revision approved
According

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IMF sees SBP-held forex reserves falling to $7.5bnn
ISLAMABAD: The International Monetary Fund (IMF) has projected that Pakistan s foreign currency reserves held by t

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Hike in diesel, cut in petrol prices proposed
ISLAMABAD: The Oil and Gas Regulatory Authority s (OGRA) recommendations regarding the revision of fuel prices for

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Proposal moved to hike diesel price, lower petrol
ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has forwarded a proposal to the Ministry of Petroleum seeking a

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CNG stations reopen in interior Sindh
KARACHI: CNG station in interior Sindh reopened on Saturday after Sui Southern Gas Company (SSGC) restored gas sup


MOHAMMED SALEEM MANSOORI

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