Tuesday, 4 December 2012

LATEST NEWS UPDATE: 05.12.2012



US to fulfil Pakistan’s urgent defence needs
ISLAMABAD: The United States agreed on Tuesday to fulfil Pakistan’s urgent defence needs in the fight against terror.
“Recognising the enduring security requirements on both sides of the Afghanistan-Pakistan border, the two delegations agreed to cooperate on a prioritised set of Pakistan’s defence requirements,” a statement issued at the conclusion of a two-day meeting of the Pakistan-US Defence Consultative Group said.
Defence Secretary Lt Gen (retd) Asif Yasin Malik and the US Undersecretary of Defence for Policy, Dr James Miller, led their sides at the talks held in Rawalpindi.
Officials from both countries identified areas of future defence cooperation for achieving shared objectives and committed to a “strong defence relationship”.
It was not clear what military hardware would be provided to Pakistan to meet urgent requirements in the fight against militants in tribal areas. Pakistan’s intended shopping list has always been a very long one, but there are some critical needs, like spares for maintenance of helicopter fleet.
The decision on furnishing Pakistan’s defence requirements appears to have been made in principle.
Officials from both sides will meet in Washington in March for a follow-up session where Pakistan will present its wish list. The Pakistani delegation will be led by the defence production secretary.
The 21st meeting of the consultative group marked the resumption of defence talks under the ‘strategic dialogue’ after a break of almost 18 months. The last meeting took place in May last year.
Although the dialogue at the ministerial level remains suspended since the challenging events of last year, some of its segments related to law enforcement, economy and defence have resumed following a recent improvement in ties.
Foreign Minister Hina Rabbani Khar and US Secretary of State Hillary Clinton, after their talks in Brussels on Monday, welcomed these meetings and said they looked forward to meetings of the working groups on energy and strategic stability.
Foreign Minister Khar had said in an interview earlier that ties with the US, including military and intelligence contacts, had fully recovered from the setbacks of 2011.
During the meeting of the defence consultative group, the two sides discussed issues related to Coalition Support Fund reimbursement and security assistance programmes. It was agreed to continue the discussions on both issues for finding the way forward. The situation in Afghanistan and Pakistan’s counter-terrorism and extremism operations in tribal areas also came up.
The joint statement noted that the group remained an invaluable forum to discuss strategic defence policy issues and exchange views on shared security concerns.
It noted the commitment of both sides to continue working together to implement a framework for defence cooperation based on areas of convergence between the US and Pakistani interests to promote peace and stability in the region.
LATEST/BRIEF  NEWS:

PAKISTAN (Brief News):
o   Bombers’ attack on SWA army camp foiled
o   Not a right time to visit Pak: Indian PM
o   SC verdict on Karachi voter lists today
o   ECP ordered to verify Karachi electoral rolls with assistance of army, FC
o    India invites Malik to spend birthday at Taj Mahal
o   PPP, PML-Q shocked as PML-N sweeps by-election
o   PTI’s tsunami to be seen in general elections: Imran
o   World Kabaddi Cup: Pakistan thrashes Scotland
o   President to visit Iran on Friday




WOLRD(Brief News):
o   Fed officials laud stimulus, quibble over future plans
o   Vietnam steps up sea patrols as tensions with China climb
o   Israel says will stick with settlement plan despite condemnation
o   Iran says captures U.S. drone in its airspace
o   Syrian army pounds Damascus rebel districts
o   Russia, China urge North Korea to drop rocket launch plan
o   Yahoo sees several flaws in $2.7 billion Mexico ruling: source
o   Terrorist attacks soar, deaths down from 2007 peak: study
o   SEC charges China arms of top accounting firms
o   UK's Prince William and wife Kate expecting a baby
o   Syrian spokesman flees country, diplomat says
o   UK's Prince William and wife Kate expecting a baby
o   Congo back in charge of Goma, U.N. fingers Rwanda again
o   Murdoch keeps News Corp name, Thomson becomes publishing CEO
o   Yahoo sees several flaws in $2.7 billion Mexico ruling: source
o   Manufacturing contracts to weakest in three years
o   Israel says will stick with settlement plan despite condemnation
o   Chinese factories grow again, but U.S. sector shrinks
o   Egypt judicial council to oversee referendum
o   Israel says security agents kill Palestinian ax-man in West Bank
o   Fed's Bullard urges smaller bond buys to replace Twist
o   High court delays action on same-sex marriage cases
o   Ukraine cabinet quits, prime minister's future uncertain
o   Russia, China urge North Korea to drop rocket launch plan
o   Greek bond buyback offer tops expectations
o   Britain appeals court decision to block cleric Qatada's deportation
o   Netanyahu brushes off world condemnation of settlement plans
o   More mannequins, less clutter at heart of J.C. Penney plan
WOLRD BUSINESS(Brief News):
o   London's Mayor says would campaign to stay in EU
o   London Mayor: Britain must renegotiate relationship with EU
o   EU bank deal unlikely on Tuesday, talks to continue: sources
o   Euro hits six-week high, shares up on euro zone progress
o   Eurogroup needs a head of government: Austria's Fekter
o   Europe's banking union ambitions under strain
o   Euro zone factory prices nearly flatline in October
o   ECB must supervise all banks, avoid dual system: France's Moscovici
o   Cerberus may join Virtu bid for Knight Capital: WSJ
o   ECB can't have last word in bank supervision: Germany's Schaeuble
o   Sweden's Borg says compromise possible on bank supervision
o   Student group to sue Facebook over privacy policy
o   Stock futures signal slightly higher open
o   Seychelles sees 3 pct economic growth in 2013: Budget
o   Uganda cbank cuts key lending rate 50 bps to 12 pct
Business News:
Pakistan
EXCHANGE FOR CURRENCY NOTES:

U.S.A              97.41
S.Arabia         25.98
U.K                 156.85
Japan              1.1862
Euro               127.23
U.A.E              26.52

BULLION RATES IN RUPEES PER 10 GRAMS
KARACHI
Gold Tezabi (24-ct)   Rs 53,571
Silver Tezabi             Rs 994.42



 Tue, 4 Dec 2012

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CNG stations closed for three days in Lahore
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MOHAMMED SALEEM MANSOORI

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