Monday, 22 October 2012

LATEST NEWS UPDATE: 23.10.2012



 President chairs a review meeting on energy situation
ISLAMABAD: President Asif Ali Zardari on Monday chaired a meeting at Aiwan -e- Sadr, to review current energy situation and the progress made so far on various initiatives undertaken by the government to overcome the power and gas shortage in the country.
The meeting was attended by Ch. Ahmed Mukhtar, Minister for Water & Power, Finance Minister Dr. Abdul Hafeez Sheikh, Advisor to PM on Petroleum, Dr. Asim Hussain, Secretary General M. Salman Faruqui, Finance Secretary Abdul Wajid Rana, Secretary Water & Power, Ms Nargis Sethi and Secretary Petroleum & Natural Resources Dr. Waqar Masood.
Ch. Ahmed Mukhtar, Minister for Water & Power, briefed the meeting about the latest power situation in the country and the various measures taken by the government and said that power generation was steadily improving due to immediate steps taken by the government.
The meeting was informed that a special monitoring and control room had been set up in the Ministry of Water and Power which was overseen directly by the Secretary Water and Power Nargis Sethi.
Twice a day the Secretary Water and Power confers with the chief executives of distribution companies through tele conferencing for interactive briefing on the latest situation pertaining to availability and distribution of power and scheduled or unscheduled loadshedding in different parts of the country.
The chief executive officers have been directed to set up similar control and monitoring rooms in their offices for tele conferencing with field officers posted in different locations under their respective jurisdictions and on the spot decisions are taken to address the problems of supply and distribution of power to avoid bureaucratic delays, the meeting was appraised.
The meeting was also briefed on the visits undertaken by the Secretary Water and Power to various power stations in the country recently.
The President appreciated the latest measures for a hand on approach to the problem adopted by the Water and Power Ministry.
The meeting reviewed progress on Construction of Diamir Bhasha Dam and the efforts being made to garner finances for this important project.
The President said that construction of water reservoirs especially Diamir Bhasha Dam was crucial for the country to enhance its water storage capacity, which he said would help ensure food security and enhance agricultural productivity.
The President said that early completion of Diamer-Bhasha Dam would help ease water and energy problems of the country in view of its huge storage capacity and power generation to the tune of 4500 mega watt and urged for taking all possible steps to ensure timely completion of the multi propose project.
The meeting was also updated on construction of various other hydel power projects including Allai Khwar-Battagram, Jinnah Hydropower-Mianwali, Gomal Zam Dam-South Waziristan Agency, Satpara Dam-Skardu, Duber Khwar-Kohistan, Jabban Hydropower Malakand and Laraib Hydro power projects.
The President during the meeting also stressed for early completion of various projects aimed at exploiting coal, solar and wind energy which he said have great potential in meeting the energy crisis.
Advisor to PM on Petroleum, Dr. Asim Hussain briefed the meeting about the availability of gas and fuel for the power generation, progress on import of LNG and LPG and the Winter Gas Plan.
The President urged for ensuring uninterrupted supply of gas to domestic consumers in winter while framing the Winter Gas Plan.
The President also directed that he should be updated frequently about the energy situation and the implementation status of various measures in this regard.
Romney backs drones, aid strings in Pak
BOCA RATON: White House hopeful Mitt Romney said Monday he would maintain drone strikes in Pakistan if he defeats President Barack Obama and impose conditions on aid to the nuclear-armed nation.
At the two men's final debate before November 6 elections, Romney largely embraced Obama's positions on Pakistan and, in a departure from his frequent criticism, said he did not blame Obama for troubled ties between the nations.
"It's widely reported that drones are being used in drone strikes, and I support that... entirely and feel the president was right to up the usage of that technology," Romney said at the debate in Florida.
Romney said he believed the United States should "continue to go after the people that represent a threat to this nation and to our friends." But he added: "We're going to have to do more than just going after leaders and killing bad guys, important as that is."
Obama, while rarely speaking publicly on drones, has stepped up strikes by the unmanned, remote-controlled weapons against Islamic extremists in areas of Pakistan where the government has limited control.
The drones have been deeply unpopular in Pakistan, where the government calls them a violation of sovereignty and opposition figures charge that the strikes breed more extremism by inadvertently killing civilians. The drone issue has further strained relations, which nosedived last year when Obama ordered a secret raid that killed Osama bin Laden in the Pakistani garrison town of Abbottabad.
Romney voiced concern about the Haqqani network, a militant group in Afghanistan that US officials have linked to Pakistan, and worried over the power of Pakistan's Inter-Services Intelligence agency. "It's a nation that's not like others and it does not have a civilian leadership that is calling the shots there," Romney said.
Asked by moderator Bob Schieffer if the United States should "divorce" Pakistan, Romney supported continued ties but -- in line with legislation approved by Congress -- called for more conditions on US assistance. "No, it's not time to divorce a nation on Earth that has 100 nuclear weapons and is on the way to double that at some point, a nation that has serious threats from terrorist groups within its nation," Romney said.
"But we do need to make sure that, as we send support for them, that this is tied to them making progress on matters that would lead them to becoming a civil society," he said.

US declines to comment on media reports
WASHINGTON: United States has declined to comment on Abbottabad Commission report, saying that it would comment once the report get published.
During a daily press briefing, US State Department's Spokesman Mark Toner said that the they have just seen reports in the Pakistani press about the Abbottabad Commission report.
Replying to a question, the spokesman said "we obviously share with the Government of Pakistan a profound interest in finding out what kinds of support networks bin Ladin might have had. So we believe such a report, when it does finally get finalized and published, that it's an -important for the American people and the Pakistani people to know."

LATEST/BRIEF  NEWS:

PAKISTAN

o   IED diffused in Peshawar
o   Romney backs drones, aid strings in Pak
o   Pak makes largest human national flag
o   SBP to buy govt. paper in reverse repo
o   Roadside bomb injures 3 FC men outside Peshawar
o    SC to review implementation of Karachi unrest case ruling today
o   Pak-US people need to see Abbottabad commission report
o   Obama, Romney urged to focus on Pakistan
o   Lahore to become PPP’s bastion: Wattoo

WORLD








o   Rosneft takes over TNK-BP in $55 billion deal
o   Armstrong's Tour titles stripped, says UCI
o   Gunman kills three and himself at Wisconsin salon
o   Caterpillar third-quarter profit jumps 50 percent after strong sales
o   China leftists urge parliament not to expel Bo Xilai
o   Plotters planned UK attack "bigger than 7/7"
o   U.S. says Myanmar "on right track" over North Korea arms ties
o   BBC editor steps aside over Savile scandal
o   Gunbattles flare in Lebanon as political crisis deepens
o   In campaign of memorable debates, Obama and Romney face off again
o   BBC crisis deepens as new allegations emerge
o   Analysis: Some investors open to higher tax to trim deficit
o   Representative Jesse Jackson Jr. due back at Mayo Clinic for more tests
o   Spain's Rajoy gets mixed message in regional votes
o   As world helps shot Pakistani girl, Afghans ask "what about us?"
o   Clashes break out in Beirut after slain official's funeral
o   Castro dismisses rumors that he's at death's door
o   Emir of Qatar to be first head of state to visit Gaza
o   Protesters break into grounds of Libya's parliament
o   Netanyahu says doesn't know of any U.S.-Iran talks
o   Jordan foils Qaeda plot, arrests 11 militants: state TV
o   China cabinet seeks ambitious economic reform agenda: advisers
o   Police in Kuwait teargas opposition protesters
o   EU faces two tough months of bargaining to boost euro confidence
o   Protesters break into grounds of Libya's parliament
o   Gunfire in southern Beirut, ambulances heard
o   Analysis :Defying doomsayers, China to avoid Japan-style bubble
o   After Libya misfire, pressure on Romney in foreign policy debate
o   Israel swaps missile drills for earthquake rehearsal
o   Fidel Castro alive and well: Chavez aide
o   Low vote turnout, gains by rebels deal blow to West Bank leaders
o   Democrats criticize Republican for leaking sensitive Libya papers
o   Fork in the road as U.S. outstrips Europe
o   Slain official's funeral ends in Beirut violence
o   Assad tells Syria envoy arms flows to rebels must stop
o   Analysis : Killing of security chief raises fears for Lebanon
o   Vatican names seven saints including first Native American
o   Iran, like U.S., denies plan for one-on-one nuclear talks
o   Stock futures higher after Friday sell-off, earnings eyed
o   UK investors take stake in Irish bad-bank investment vehicle
o   Rosneft agrees deal to buy BP and AAR stakes in TNK-BP
o   Cost of investment advice to rise after reform - survey
o   Ford summons Genk unions, fuelling closure fears
o   Electrolux pushes on with cost cuts in weak Europe
o   Alwaleed says Citigroup has great potential
o   UK "not contacted" over threat to cancel EU summit
o   Hasbro profit falls on weaker sales in boys, preschool lines
o   BBC editor steps aside over Savile scandal
o   Philips profit beats forecast as revamp gathers pace
o   Airbus may hike A350-1000 output in "mini-jumbo" battle
o   Energy giants look to longer term at Kazakh field
o   AngloGold gives striking S.Africa miners ultimatum
o   Factbox: Kashagan-Kazakhstan's major oil field

Business News:
Pakistan
EXCHANGE FOR CURRENCY NOTES:

U.S.A              96.35
S.Arabia         25.69
U.K                 154.38
Euro               125.67
U.A.E             26.23


BULLION RATES IN RUPEES PER 10 GRAMS
KARACHI
Gold Tezabi (24-ct)        Rs 52,842
Silver Tezabi                   Rs 934.28

 Tue, 23 Oct 2012

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Oil up in Asia on bargain hunting
SINGAPORE: Crude rebounded in Asia on Tuesday as traders returned to the market after prices plunged on oil demand

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Yen under pressure in Asian trade
TOKYO: The yen was under pressure in Asia on Tuesday as the euro and dollar touched multi-month highs against the

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Asian markets mostly up, earnings season in focus
HONG KONG: Asian markets were mostly higher Tuesday but gains were limited as traders took a breather from recent

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''CNG rate at 80pc of petrol intolerable''
ISLAMABAD: President All Pakistan Compressed Natural Gas (CNG) Association, Gayas Paracha warned that in case the

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Karachi stocks up; rupee, overnight rates flat
KARACHI: Stocks closed higher on Monday, driven by optimism over upcoming earnings announcements, traders said.br

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Middle East oil disruptions to hit Asia first: IEA
SINGAPORE: Asia will be the first to feel the impact of any Middle East oil supply disruption as regional demand s

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Profit-taking sends Asian markets lower
HONG KONG: Asian shares were hit by profit-taking on Monday after last week s healthy gains, while heavy losses on

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Euro mixed in Asian trade
TOKYO: The euro was mixed in Asian trade on Monday after Spanish Prime Minister Mariano Rajoy s right-leaning part

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World oil prices mixed in Asian trade
SINGAPORE: World oil prices were mixed in Asian trade Monday, with sentiment subdued as investors kept to the side

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POL, CNG price decrease approved
ISLAMABAD: The Ministry of Petroleum has approved a decrease in price of petroleum products, which would be effect

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Rupee closes 95.35/95.45 to US dollar
KARACHI: In the currency market, the rupee ended at 95.35/95.45 to the dollar, compared to Thursday s close of 95.

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Upbeat on Sept earnings, traders give KSE a lift
KARACHI: The main stock market closed higher on Friday, as investors increased buying because of optimism ahead of

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Sindh CNG stations closed for 48 hours
KARACHI: CNG stations across Sindh including Karachi, under gas load management plan, closed for 48 hours from Friday

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Euro holds steady on EU summit news
TOKYO: The euro held steady in Asian Friday after news that European Union leaders had clinched a deal on setting

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World oil prices mixed in Asian trade
SINGAPORE: Oil prices were mixed in Asian trade Friday as investors await the final outcome of an EU summit on tac






MOHAMMED SALEEM MANSOORI

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