Friday, 18 May 2012

Rupee, o/n rates end flat

The rupee has been supported by remittances, which rose 20.2 per cent to $10.88 billion in the first 10 months of the 2011/12 fiscal year.—File Photo
KARACHI: In the currency market on Friday, the rupee ended almost flat at 90.73/93 to the dollar, compared with Thursday’s close of 90.86/91.
The rupee has been supported by remittances, which rose 20.2 per cent to $10.88 billion in the first 10 months of the 2011/12 fiscal year, compared with $9.05 billion in the same period last year.
In April, remittances totalled $1.14 billion.
Overnight rates in the money market closed at 11.90 per cent, the same level as on Thursday.

US supply trucks cross Afghan-Pakistan border: officials

Tanker trucks, used to transport fuel to Nato forces in Afghanistan, are seen parked near oil terminals in Pakistan’s port city of Karachi on May 17, 2012. – Photo by AFP
PESHAWAR: Pakistan allowed four containers of office supplies for the US embassy in Kabul to cross into Afghanistan for the first time following a six-month blockade, officials said on Friday.
The trucks were permitted to cross as Pakistan President Asif Ali Zardari prepares to meet Nato leaders at a key summit in Chicago, accepting a last-minute invitation after his foreign minister indicated Pakistan was willing to call time on the blockade.
Islamabad closed its Afghan border crossings to Nato supplies on November 26 when US air strikes killed 24 Pakistani soldiers, leaving hundreds of containers of international supplies stranded at the port in Karachi and plunging relations with Washington to a new low.
The four trucks of US embassy supplies crossed Pakistan’s northwest Torkham border into Afghanistan, the officials told AFP on condition of anonymity because they were not allowed to release the information to the media.
“I can’t give you the exact number but a lot more will go to Afghanistan in coming days. These all are diplomatic shipments, I mean non-Nato supplies,” one of the officials said.
In Kabul, the US embassy said it could not confirm the shipment.
There were conflicting accounts of when the trucks crossed, with one source saying they began moving earlier in the week and another saying they passed through on Friday.
Almost 300 containers of US embassy supplies, including stationery, computers and printers, are understood to have been stranded in Pakistan by the blockade.
Pakistan and US officials are still negotiating rules, fees and logistics for resuming the Nato transit lines, and Islamabad has not said when Nato supplies will resume.

Facebook leaps in market debut

 
NEW YORK: Facebook shares leapt some 12 percent in opening trade Friday, then pared their gains, as the wildly popular social network made a splash in its market debut.
The shares, priced at $38 on Thursday in the largest-ever initial public offering (IPO) for a technology company, jumped to $42.55 in the opening Nasdaq trades before settling back with more moderate gains.
Trading opened at 1530 GMT, after what appeared to be a delay in the debut.
Less than 10 minutes later, the shares were up only 5.3 percent at $40.

13 year old attempts suicide after dismissal from school

 
FAISALABAD: A thirteen year old student of class six, Umer tried to commit suicide by self-immolation after he was dismissed from his school by the Headmaster over non attendance.
The suicide attempt left 80 percent of the child’s body severely burnt.
According to Umer’s father, they had gone for a family wedding and when the child went to school after two days he was removed by the Headmaster.
The next day they sent an explanation note with the child, but the Headmaster did not accept it. On the third day the father accompanied his son to school but the Headmaster refused to listen to him.
When they reached home, Umer went outside and set himself on fire. He was rushed to the hospital in critical condition. According to Doctors, Umer has received severe burns and they are attempting to save his life.
Headmaster Ghulam Fareed said that the father of the child had been called over his repeated absences, after which this incident took place.
According to the DCO Faisalabad, Umer had been absent several times and the school administration had summoned his parents about this. When the student returned home and asked his father to come to school, the father refused. It was after this that the student attempted suicide by self-immolation.

Wednesday, 9 May 2012

PA adopts South Punjab, Bahawalpur resolutions

Punjab assembly
LAHORE - The Punjab Assembly on Wednesday unanimously approved two resolutions, espousing restoration of Bahawalpur state and creating South Punjab province.
The resolutions were tabled by Punjab Law Minister Rana Sanaullah. Earlier, the Pakistan Muslim League-Nawaz and opposition parties in the house agreed on bringing the resolution for the restoration of Bahawalpur province.
The assembly also unanimously adopted a resolution calling for creation of South Punjab province.

Sharifs greedy for power: Farzana Raja


Farzana Raja
Islamabad:(News Desk) Federal Minister and Benazir Income Support Programme chairperson Farzana Raja has said that Sharif brothers are longing to grab the power.
Speaking to the media on Wednesday outside the parliament, she said that PPP was a national party and people would elect it in the next general elections.
Farzana said the government would give good news to the people in the budget as PPP considers service to the people as ritual .She said although the country was facing energy crises but the government was making all out efforts to resolve these issues.
Some 3,000 mega watts of electricity were added up to national grid during last four years, while new energy projects were on the cards of the government.
“The crises may have been reached to its pinnacle, if government not allowed IPPs to generate electricity.

Sunday, 6 May 2012

PML-N holds (dis)organised 'anti-government' rallies


GUJRANWALA: Taking its protest against Prime Minister Yousaf Raza Gilani to the streets, Pakistan Muslim League-Nawaz (PML-N) organised anti-government rallies in multiple cities on Sunday.
The PML-N had earlier announced the commencement of its protest movement against Gilani for his refusal to step down after being convicted in a contempt case.
In Gujranwala, rally organisers made arrangements for around 8,000 to 10,000 people.
According to correspondent Atta Chauhan, the people gathered at the venue protested against the government by burning effigies, with unruly members of the crowd causing problems at the rally spot.
Members of the PML-N youth wing also had a fight with the rally organisers when they tried to get on the stage. The youth wing members were pushed off the stage and told to stay away from it.
Media boycott Karachi rally
PML-N also organised an anti-government rally at the Karachi Press Club. PML-N leaders Saleem Zia, Marvi Memon and Mushahid Ullah were present with other members of the party.
According to Express News correspondent Quratul Ain the rally was poorly organised and had turned chaotic. Media personnel were also mistreated and decided to boycott the rally.
The PML-N also took out a protest rally in Peshawar.