Tuesday, 13 November 2012

LATEST NEWS UPDATE: 14.11.2012



Seven more killed in Karachi
KARACHI: At least seven people lost their lives in different incidents of violence in the financial hub during last 24 hours, Geo News reported.
Police said a man was shot dead near Bashir Chowk in New Karachi. The identity of the deceased could not be ascertained.
In another incident, a man unidentified as Shujaat was gunned down by unknown outlaws in Orangi Town.
On Tuesday, five people were killed in violence in the city.
Meanwhile, Rangers carried out targeted operation in various areas and apprehended more than a dozen suspects.
Rangers sources said a target killer was arrested from Baldia Town No. VII. Paramilitary force also recovered weapon from his custody. The accused have affiliation with banned outfit.
LEAs also conducted raids in Landhi, Mujahid colony, Baldia Town and Chanesar Goth and held 12 accused and recovered arms.

LATEST/BRIEF  NEWS:

PAKISTAN

Brief News:








o    Key accused in Wali murder case held
o   Karachi: Three more shot dead within 10 minutes
o   Kamal urges PM to visit Karachi at once
o   MQM protests own govts coldness
o    Bahawalpur: Five die in road mishap
o   SC to review report on letter written to Swiss official
o   Instead of Kalabagh Dam, need to work on other workable hydro power projects: PM Raja
o   President will announce final date for next general polls: Farooq H Naik
o   CM Bihar Nitesh Kumar calls on President Zardari
o   CM Sindh chairs top level meeting over law and order situation in province
o   1,757 dead until October
o   Raisani wins assemblys trust, partys no-trust
o   Pakistan watching own interest in trade with India: PM
o   Malik to visit India on 22nd
o   Hina to attend OIC meeting in Djibouti

WOLRD:
o   Top U.S. commander in Afghanistan investigated, Petraeus scandal widens
o   Syria pursues bombardment of rebel-held border town
o   Three women intertwine in downfall of David Petraeus
o   Head of Microsoft's Windows unit steps down
o   FBI agents search house of Petraeus' former mistress
o   Microsoft and Google financials could surface at Seattle trial
o   Analysis: Businesses turn to tax fight, some stung by Romney bets
o   White House lists two dozen leaders to meet with Obama on deficit
o   Analysis: Oil service titans gaining power vs Big Oil
o   Congress comes back Tuesday to confront "fiscal cliff"
o   Syria opposition seeks support; Israel fires from Golan
o   Violence flares in Golan even as Syria's opposition seeks recognition
o   Identity of second woman emerges in Petraeus's downfall
o   Starbucks, Amazon and Google to face UK lawmakers over tax
o   Merkel, in anxious Lisbon, hails austerity drive
o   Threat-focused Iran launches "biggest ever" air drills
o   News chief steps aside as BBC crisis deepens
o   U.S. to overtake Saudi as top oil producer: IEA
o   Armstrong steps down from Livestrong board
o   Facing challenges, Mark Thompson takes the CEO reins at the NYT
o   Greece to get more time but no immediate aid on Monday
o   Microsoft's Surface tablet has "modest" start: Ballmer
o   U.S. to soon determine post-2014 troop presence in Afghanistan
o   Analysis: Election over, U.S. cautiously mulls Syria options
o   China dodges politically sensitive questions at key congress
o   Israeli aircraft strike Gaza sites
o   Analysis: Election over, U.S. cautiously mulls Syria options
o   Myanmar quake death toll at 11, aftershocks rumble
o   Israel hits Syrian artillery that fired on Golan
o   Home Depot profit rises as housing market improves
o   Quebecor profit falls on goodwill impairment charge
o   Inflation shows biggest jump in over a year in October
o   Analysis: Tough task for Portugal to match Ireland's bond success
o   Schaeuble: 2020 could be too ambitious for Greek debt target
o   French finance minister: aim is to disburse funds to Greece by end-Nov
o   Greece wins more time but no immediate aid
o   Burundi inflation rises to 15.9 percent in October
o   Olympus says investors sue for $240 million damages
o   Goldman Sachs shutting South Korea asset management unit
o   PepsiCo to sign Myanmar bottling deal as rivalry with Coke grows
o   South Africa's Rand builds gold analysis facility in Singapore
o   Blackstone and LLOG Exploration to invest $1.2 billion
o   Platinum market swings into deficit as supply hits 11-year low
o   Microsoft and Google financials could surface at trial
Business News:
Expats remit over $1.365bn in October
KARACHI: Overseas Pakistani workers remitted a historic amount of $1,365.10 million in October, 2012 as against $1,017.87 million sent by them in the same month of the last fiscal year (October, 2011) showing a tremendous jump of $347.23 million or 34.11 percent.
The previous highest amount remitted in a single month by overseas Pakistanis was recorded in August, 2011 when they sent home an amount of $1,310.47 million.
The remittances received from all countries of the world showed an impressive growth during last month.
In October 2012, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $347.52 million, $293.74 million, $217.56 million, $197.18 million, $163.37 million and $37.48 million respectively as compared with the inflow of $291.20 million, $216.50 million, $167.60 million, $117.56 million, $131.54 million and $28.08 million respectively in October, 2011.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the fourth month of current fiscal year (FY13) amounted to $108.25 million as against $65.39 million received in the same month of last fiscal year (FY12).
Overseas Pakistanis remitted an amount of $4,964.21 million in the first four months (July – October) of the current fiscal year 2012-13 (FY13), showing a growth of 15.04 percent or $649.14 million when compared with $4,315.07 million received during the same period of the last fiscal year (July- October2012).
The inflow of remittances in July- October, 2012 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $1,308.61 million, $1,046.83
million, $841.28 million, $697.33 million, $559.51 million and $134.53 million respectively as compared with the inflow of $1,145.38 million, $963.12 million, $795.35 million, $486.92 million, $486.15 million and $129.81 million respectively in July- October 2011.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first four months of current fiscal year (July- October FY13) amounted to $ 376.12 million as against $308.34 million received in the first four months of last fiscal year (July- October FY12).
The monthly average remittances for July-October 2012 period comes out to $1,241.05 million as compared to $1,078.77 million during the corresponding period of the last fiscal year.
The continued growth in workers’ remittances is the result of the efforts made by Pakistan Remittance Initiative (PRI) in collaboration with other stakeholders to facilitate both Overseas Pakistanis and their families back home. Since its inception, PRI has taken a number of steps to enhance the flow of remittances through formal channels which include: (a) preparation of national strategies on remittances (b) taking all necessary steps to implement the overall strategy (c) playing the advisory role for financial sector in terms of preparing a business case, relationship building with overseas correspondents, creating separate efficient remittance payment highways and (d) becoming a national focal point for overseas Pakistanis through round the clock call centre (021-111-222-774) with toll free lines, separate web site etc.
It may be recalled that in order to provide an ownership structure in Pakistan for remittance facilitation, the Government of Pakistan through State Bank of Pakistan, Ministry of Overseas Pakistanis and the Ministry of Finance had launched a joint initiative called Pakistan Remittance Initiative (PRI) in April 2009.
This initiative has been taken to achieve the objective of facilitating & supporting faster, cheaper, convenient and efficient flow of remittances, says a SBP release.
 Pakistan
EXCHANGE FOR CURRENCY NOTES:

U.S.A              96.91
S.Arabia         25.84
U.K                 153.75
Japan              1.2224
Euro               122.92
U.A.E              26.38

BULLION RATES IN RUPEES PER 10 GRAMS
KARACHI
Gold Tezabi (24-ct)        Rs 53,828
Silver Tezabi                   Rs 960





 Wed, 14 Nov 2012

-
Crude prices fall in Asia on demand fears
SINGAPORE: Crude prices fell in Asia on growing fears over the US and Greek economies Wednesday, while the International

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Asian markets mostly up after recent losses
HONG KONG: Asian shares mostly rose on Wednesday as bargain hunters moved in after a recent sell-off fuelled by co

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Microsoft''s Windows head, once a possible CEO, exits
SEATTLE: The executive most widely tipped to be the next chief executive of Microsoft Corp has left the world s la

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Anti-tax evasion mechanism in place: finance minister
ISLAMABAD: Federal Minister for Finance, Dr Abdul Hafeez Shaikh said Tuesday that the government has devised a com

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Rupee weakens vs dollar ahead of IMF repayments
KARACHI: In the currency market, the rupee weakened to 95.86/95.92 to the dollar, compared to Monday s close of 95

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Karachi bloodshed lands KSE in red zone
KARACHI: Local stocks fell below 16,200 points on Tuesday, pressured by concerns over rising violence in the count

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World oil demand slides further after storm Sandy: IEA
PARIS: Hit by the shocks of hurricane Sandy and recession in much of Europe, world oil demand is set to fall further

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Euro weaker in Asian trade on Greece concerns
TOKYO: The euro weakened in Asian trade on Tuesday after eurozone finance ministers delayed until next week a final

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Asian markets fall on US, Europe woes
HONG KONG: Asian markets fell Tuesday on uncertainty over the global outlook owing to the looming US fiscal cliff

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Crude down in Asia on US fiscal cliff fears
ff", analysts said.

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Overseas workers remittances hit $1.365bn in Oct
KARACHI: Overseas Pakistani workers remitted a historic amount of $1,365.10 million in October, 2012 as against $1

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Rupee strengthens against US dollar
KARACHI: In the currency market, the rupee strengthened to 95.81/95.86 to the dollar on light activity, compared t

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KSE eases towards 16,200 points
KARACHI: Pakistani stocks eased towards 16,200 points on Monday, as weakness in Engro Corp and oil shares offset a

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CNG stations to remain shut for 48 hours in Sindh
Ac

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ECC likely to allow monthly POL prices revision
ISLAMABAD: Economic Co-ordination Committee (ECC) in its next meeting is likely to give permission for the revision









MOHAMMED SALEEM MANSOORI

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