Thursday, 18 October 2012

LATEST NEWS UPDATE:19.10.2012



Raja calls for respect of all institutions
ISLAMABAD: Prime Minister Raja Pervez Ashraf has said all institutions, including parliament, the Supreme Court and armed forces, belonged to Pakistan and the country could prosper only when all these respected each other and worked within their ambits.
Speaking at a luncheon hosted for him by the Supreme Court Bar Association here on Thursday, the prime minister said mud-slinging on institutions was tantamount to defaming the country. He said strengthening the institutions would strengthen the country.
Mr Ashraf dispelled a perception that there were differences between the government and the judiciary or any other state institution. The democratic government could not even think of disgracing the judiciary, he added.
Mr Ashraf said ridiculing any state institution meant ridiculing Pakistan and stressed that all needed to work with the objective of serving the country.
“Being the prime minister, I have to respect the courts because it is the place where all heads bow down as justice is dispensed here,” he said.
Mr Ashraf said institutions in the country were in an evolutionary stage and hopefully things would settle over a period of time.He said the country’s real enemies were extremists and terrorists who were taking away people’s lives. “We have to tackle this menace collectively and we must win.”
He said issuing edicts by terrorists, declaring people non-Muslim and casting them to heaven or hell was a mockery of Islam.
Mr Ashraf said democracy was the only system of governance that reflected aspirations of people.
He said whenever dictators took over in violation of the Constitution and against the will of masses, people suffered.
The prime minister urged lawyers to support the philosophy of democracy which was a guarantee to the country’s uplift. He also asked them to reject the false perception of differences between the government and the judiciary.
He praised the SCBA for following democratic norms, and conducting its elections and accepting the results in a democratic spirit.
He recalled that the Pakistan People’s Party strongly supported the lawyers’ struggle for the restoration of judges. He said that he himself being the coordinator of Rawalpindi division at that time galvanised the support of his party workers to the lawyers’ movement.
He announced a grant of Rs75 million for SCBA’s building and said the government would provide financial support to lawyers in other areas. He also announced approval in principle of a housing society for lawyers.
In his address of welcome, SCBA President Yaseen Azad said the Supreme Court Bar Association fully supported the sovereignty of state institutions.
He said the lawyers through their long struggle had been successful in restoration of the judiciary.—APP

LATEST/BRIEF  NEWS:

PAKISTAN

o   Culling of Australian sheep resumes
o   Malala stable in UK hospital: doctors
o   UNESCO pays tribute to Malala Yousafzai
o   Institutions should work together: PM
o   Pakistan cricket fans happy over arrival of foreign players
o   Teen lovebirds commit suicide in Multan
o    Lahore’s Hajj tour operator cheats millions of rupees from 61 persons
o   Two including a political worker shot dead in Karachi
o   Pak-India peace conference today
o   Eid holidays from 26th to 29th
o   Karzai warns Pakistan over using extremism
o   MMA closes ranks, leaves Jamaat out
o   Faisal Raza Abidi stoops to bash CJP again
o   No record of ISI cell: Presidency

WORLD









o   Morgan Stanley reports net loss, but operating earnings up
o   Striking Greeks protest austerity as EU meets
o   Rosneft lodges bid for BP stake in TNK-BP: sources
o   FBI arrests man for attempting to bomb New York Federal Reserve
o   Obama comes out swinging after debate
o   Attacker of Pakistani schoolgirl was held, freed in 2009: sources
o   Apple loses tablet copyright appeal against Samsung
o   Egypt sees 20 percent rise in tourists this year despite insecurity
o   Lance Armstrong steps down from charity, Nike drops him
o   Under fire over Congo rebels, Rwanda eyes U.N. Security Council seat
o   White House-ordered review found no evidence of Huawei spying: sources
o   Verizon quarterly profit boosted by wireless business
o   Nokia posts loss, raising stakes for new Lumia sales
o   Meningitis deaths rise, FDA faces new questions
o   China eyes tepid rebound as data signals worst over
o   For Benghazi diplomatic security, U.S. relied on small British firm
o   Analysis: How long can Google's shares stay airborne?
o   Corporations and the wealthy funded party conventions
o   Sales stumbles raise fresh worry for corporate America
o   Ex-presidential nominee George McGovern no longer responsive: family
o   Exclusive: White House review finds no evidence of spying by Huawei - sources
o   U.S. seeks up to 10 year prison sentence in Gupta insider case
o   FBI arrests man for attempting to bomb New York Federal Reserve
o   For Benghazi diplomatic security, U.S. relied on small British firm
o   Obama comes out swinging after debate - in swing states
o   Russia criticizes EU Iran sanctions, urges talks
o   Colombia, FARC rebels begin peace talks in Oslo
o   Voters say Obama beat Romney in second debate
o   U.S., Israel to hold major missile defense exercise
o   UK committees to examine Starbucks tax strategies
o   Ahead of gay marriage votes, advocates skeptical of polling
o   Housing starts surge in positive sign for economy
o   Analysis: Obama regains his footing in feisty second debate
o   Former Swiss banker pleads not guilty to new U.S. tax charges
o   BofA ekes out a profit despite settlement cost, charges
o   Nigeria pirates kidnap six Russians, one Estonian
o   U.S. freezes assets of three men linked to Taliban, militants
o   Foxconn says underage workers used in China plant
o   PepsiCo keeps 2012 outlook despite quarterly beat
o   Chip gear maker ASML buys Cymer for $2.5 billion
o   Rosneft lodges bid for BP stake in TNK-BP: sources
o   Merkel seeks more EU budget control, French cool
o   Nokia posts loss, raising stakes for new Lumia sales
o   Travelers posts record operating profit
o   Forbes & Manhattan Coal's workers in S.Africa on strike
o   Diamond Offshore profit beats on lower costs
o   Sprint Nextel assumes majority stake in Clearwire
o   Forbes & Manhattan Coal's workers in South Africa on strike
o   Egypt sees 20 pct rise in tourists this year despite insecurity
o   Cocoa smugglers rub hands over Ghana price
o   Nestle sales disappoint as Asian growth slows
o   European shares steady as China data eases growth worries
o   Verizon quarterly profit boosted by wireless business
o   Spain debt costs ease on Moody's, aid hopes
o   Lonmin S.Africa mine disrupted as workers stay away
Business News:
Pakistan Reserves fall: KARACHI, Oct 18: The country’s foreign exchange reserves fell to $14.32 billion in the week ended Oct 12, compared with $14.41 billion in the previous week, according to data released by State Bank of Pakistan on Thursday.
The central bank’s reserves fell to $9.81 billion from $9.92 billion a week earlier, while reserves held by commercial banks rose to $4.50 billion from $4.49 billion.
EXCHANGE FOR CURRENCY NOTES:

U.S.A              96.25
S.Arabia         25.67
U.K                 155.23
Japan              1.2166
Euro               126.03
U.A.E               26.21

BULLION RATES IN RUPEES PER 10 GRAMS
KARACHI
Gold Tezabi (24-ct)            Rs 53,442
Silver Tezabi                      Rs 960.00

Fri, 19 Oct 2012

-
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

-
Google results, filed by mistake, miss; shares dive
SAN FRANCISCO: Google Inc inadvertently released its draft quarterly results hours ahead of
 schedule, missing expe

-
Apple loses tablet copyright appeal against Samsung
LONDON: Apple has lost its appeal against a ruling that cleared rival Samsung of copying its
registered designs fo

-
ADB urged to help Pakistan fight energy crisis
ISLAMABAD: Dr. Abdul Hafeez Shaikh Minister for Finance and Economic Affairs on Thursday
 asked Asian Development B

-
Foreign exchange reserves stand at $14.319bn
KARACHI: Pakistan s total liquid foreign reserves stood at dollars 14,319 billion during the week
 ending by October

-
KSE tad higher ahead of earnings season;
KARACHI: Local capital market closed slightly higher on Thursday but investors remained cautious
 while waiting for

-
CNG stations to remain closed for 48 hrs in Sindh
KARACHI: CNG stations across Sindh province including Karachi, under gas load management
plan, would be closed for

-
Crude down in Asia on US energy demand concerns
SINGAPORE: Oil fell in Asia on Thursday on demand concerns after US data showed a
 sharper-than-expected rise in cr

-
Dr Asim discusses TAPI project with Indian counterpart
ISLAMABAD: Advisor to the Prime Minister on Petroleum and Natural Resources
Dr. Asim Hussain met his Indian counter

-
Falling foreign outlays, gas concerns weigh on KSE
lummeting foreign investment and ga

-
Foreign investment in Pakistan plummets
KARACHI: Foreign investment in Pakistan plummeted by 67 percent in the first quarter,
 according to official data,

-
Willing to buy India fuel, but at a competitive price: Dr Asim
NEW DELHI: Petroleum minister, Dr Asim Hussain, on Tuesday said the country was
willing to import diesel and jet f

-
Less than 25pc of Pakistani women use microfinance loans
ISLAMABAD: Less than 25 percent of Pakistan s women entrepreneurs are microfinance
 borrowers as most businesswomen

-
Crude mixed in Asia as dealers weigh Europe news
SINGAPORE: Oil prices were mixed in Asia Wednesday as traders weighed global economic
woes and an uptick in US cru

-
Euro eases in Asia after Spain hopes
TOKYO: The euro eased in Asian afternoon trade on Wednesday after getting a boost from a
 decision by Moody s not t

MOHAMMED SALEEM MANSOORI

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