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International Karachi, Sunday, December 26, 2010, Muharram-ul-Haram 19, Price Rs12 Pages 8

BB murber probe should start from Musharraf: Aitzaz Economic Indicators Forex Reserves (18-Dec-10) Inflation CPI% (Jul 10-Nov 10) Exports (Jul 10-Nov 10) Imports (Jul 10-Nov 10) Trade Balance (Jul 10-Nov 10) Current A/C (Jul 10- Nov 10) Remittances (Jul 10 - Nov 10) Foreign Invest (Jul 10-Nov 10) Revenue (Jul 10-Nov 10) Foreign Debt (Sep 10) Domestic Debt (Oct 10) Repatriated Profit (Jul- Nov 10) LSM Growth (Sep 10)

GDP Growth FY10E Per Capita Income FY10 Population

Total Portfolio Invest (17 Dec-2010)

KARACHI: President Asif Ali Zardari offering dua after unveiling the plaque of “Shaheed Benazir Bhutto Apna Ghar Scheme” at PIA Head Quarter.-APP

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People waiting for aid outside WFP office

Burqa-clad bomber kills 44 Bajaurians PESHAWAR/ BAJAUR: A burqa-clad suicide bomber attacked a crowd of people waiting for aid in Bajaur on Saturday, killing at least 44 of them, officials said. The attack in the Bajaur region came a day after a clash between the Taliban and security forces in the neighbouring Mohmand region that left 11 soldiers and 24 militants dead. "I myself have counted 40 bodies but the death toll could rise as several wounded people are in critical condition," Dosti Rehman, an official at the main government hospital in Bajaur,

Altaf sees revolution coming Staff Reporter/ Agencies BHIT SHAH: Muttahida Qaumi Movement (MQM) chief Altaf Hussain Saturday said his party's Sindh Convention will turn out to be the last nail in the coffin of those working for Sindh partition. Addressing the party's Sindh Convention held here in Bhit Shah near Hyderabad, MQM chief Altaf Hussain said See # 13 Page 7

All set to observe BB’s third anniversary Staff Reporter KARACHI: Sindh Minister for Law and Parliamentary Affairs and District President Pakistan Peoples Party (PPP) Larkana Mohammad Ayaz Soomro has said that all arrangements have been completed to observe the third death anniversary of assassinated PPP chairperson and former prime minister, Shaheed Mohtarma Benazir Bhutto here See # 14 Page 11

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WFP halts operations ISLAMABAD: The World Food Programme (WFP) on Sunday temporarily stopped its food distribution operation in Bajaur Agency after the suicide attack on a checkpost. Around 36,000 internally displaced persons (IDPs) are being facilitated through the WFP operation and getting food items on regular basis, said a spokesman of WFP. See # 9 Page 7

told Reuters. Zakir Hussain, the top government official in Bajaur, confirmed the death toll and said 60 tribesmen were wounded. He said the death toll could rise as some of the wounded were in critical condition. Several women and children were among casualties, officials said. The suicide bomber, who was wearing a head-to-toe burqa but whose gender has not been ascertained, detonated explosives as hundreds of people from the Salarzai tribe were heading towards a food See # 10 Page 7

Nepra tariff up 94.9pc in 2-year ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) has increased power tariffs by 94.9 per cent for domestic; 67. 6 per cent for commercial and 77 per cent for industrial consumers since March 2008 to August 2010. According to a water and power ministry source, the tariff was increased due to hike in fuel prices, more dependence on thermal generation, nonavailability of committed gas

and increase in administrative expenses. He said the past government artificially froze power tariff from 2003 to 2007 which led to accumulation of circular debt to Rs400 billion. He said the energy mix balance has been completely disturbed and currently only 30 per cent of power is being generated by hydel resources while the rest of 70 per cent from thermal ones. See # 11 Page 7

Govt enjoys majority in parliament: Khurshid

Govt says stand solid on RGST KARACHI: Minister for labor and manpower and religious affairs Syed Khurshid Shah has said government has not withdrawn from Reformed General Sales Tax (RGST) adding government enjoys majority in parliament without MQM and JUIF which is required for approval of RGST. He said this while talking to media men here Saturday in chief minister house. He held government did not want to get RGST bill pass

without consensus and the bill would be presented in the parliament for approval after consensus was developed. Responding to a question he said PML-N was the first party which had supported RGST and Mian Shahbaz Sharif signed it during the meeting of council for common interests. Opposing the RGST bill by PML-N was beyond comprehension, he added. All the parties would be convinced on See # 12 Page 7

KARACHI: President Asif Ali Zardari on Saturday vowed to be a guarantor of future generation of Pakistan saying that the Pakistan Peoples Party government would create a better country than what it received by brining some radical changes in economy and politics. Addressing a public meeting on the inauguration of Benazir Bhutto Apna Ghar housing scheme for PIA employees here, he said in memory of Bhutto leaders, they would create a bright Pakistan. "We are turning their (Bhuttos) words into action and we are not merely raising slogans as we are not political actors. We are making and saving Pakistan," he added. The people will remember PPP's period of governance for its service to people, he said adding, "We have to live in history, while others want to live in tomorrow's headlines."

ZTBL receives loan pleas till Jan 4th ISLAMABAD: Under onewindow programme the Zarai Taraqiati Bank will receive applications for loans till Jan 4, 2011. Farmers, owner of 25 acre irrigation land and 50 acre arid land are eligible for window loan. The agriculture department of Punjab informed farmers will also receive seeds, fertiliser and other required items for crops cultivation for the season. Under one-window operation See # 15 Page 7

PPP CEC meet today LARKANA: The meeting of Central Executive Committee (CEC) of Pakistan Peoples Party(PPP) will be held at President House Naudero on December 26 (today). This was disclosed by the Sindh Minister for Law and Parliamentary affairs Muhammad Ayaz Soomro, who is also the District President of PPP Larkana, in a press conference held at Larkana press Club. He said that Chairman of PPP Bilawal Bhutto Zardari will chair the meeting. The meeting will be attended by the members of CEC Presidents of all the five Provinces and Azad Kashmir, he added. See # 16 Page 7

The President said that now prime ministers would only be made by people and not by political influential. "We are ready to render sacrifices for Pakistan and our next generation will also be ready to do the same. Our leaders preferred death over life and we are not afraid of threats and propaganda as the PPP is a sapling of Zulfikar Ali Bhutto for which its workers spilled their blood." He said he would keep watch on the performance of the Prime Minister, ministers and government officials. He said Benazir Bhutto sacrificed her life when she was voicing support for raising national flag in Swat and protecting rights of people. He said Zulfikar Ali Bhutto considered politics as worship and he was also following the same philosophy. The President assured that housing facilities would be provided to every Pakistani and workers would get ownership in

government entities. On the birth anniversary of Quaid-e-Azam Muhammad Ali Jinnah, he came with a message of happiness, Zardari said adding workers of the Pakistan International Airlines (PIA) would be regularised and their salaries would be increased. President Zardari said he was only fulfilling his duty by giving rights to workers of OGDC (Oil and Gas Development Company), PIA, Civil Aviation Authority and other organizations. He pledged to fulfill the dreams and promises made by Shaheed Zulfikar Bhutto and Benazir Bhutto. He said those who martyred Benazir Bhutto, did not understand that the legacy of Zulfiqar Bhutto lives on in every PPP worker. Bhuttos were alive in every person and whatever he was doing was to fulfill the vision and mission of the founder of PPP, he added. See # 7 Page 7

Qaim says Bill to be approved with consensus

Commissionerate System Bill soon KARACHI: Chief Minister Syed Qaim Ali Shah has said bill for restoration of Commissionerate System in Sindh will be presented in Sindh Assembly (SA) on January, 7. Qaim Ali Shah said this while addressing a press conference here Saturday on the occasion of making announcement by PML-F leader Sayed Javed Shah to join PPP. Federal Minister Syed Khurshid Shah, Sindh interior minister Dr Zulfiqar Mirza and others were also present on the occasion. Chief Minister Sindh alleged that dictator Musharraf imposed local government ordinance in all the provinces which undermined the entire system. Bill for restoration of

Commissionerate system will be presented in Sindh Assembly on January, 7 at every cost, he said hoping the bill will be approved with consensus. Regarding restoration of old status of districts Hyderabad and Karachi, he said consultations were underway with the allied parties on this count and old status of these two cities would be restored with consensus. To a question he said federation would tell about approval or non-approval of RGST bill. However when the bill is decided then province will collect tax on services, he added. Sindh Revenue Service Board has been constituted for recovering GST on services. Sindh would not withdraw from the See # 8 Page 7

Mohmand Agency

Forty terrorists killed in 24hrs PESHAWAR: At-least 40 militants were killed when gunship helicopters pounded their hideouts in Mohmand, officials said on Saturday. Security forces launched a search operation in Mohmand tribal district, next to the border with Afghanistan, after coordinated insurgent attacks on five check-posts Friday in which 11 paramilitary soldiers were killed. "Since Friday Pakistani secu-

rity forces helped by helicopter gunships carried out raids on suspected militant hideouts and killed 40 militants," Mohmand's top administration official Amjad Ali Khan told foreign media. A senior security official and local military officials confirmed the militant toll. The operations took place in Baizai and Lakro villages, they said. -Agencies

Quaid Day observed with renewed pledges Special Correspondent/ Agencies

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Says aim to make history not headlines

196.25 33.52 1.51 2783

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China raises interest rates 2nd time in 3mht

Staff Reporter

Yearly(Jul, 2010 up to 23-Dec-2010) Monthly(Nov, 2010 up to-23-Dec-2010) Daily (23-Dec-2010)

See on Page 8

President vows radical changes

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CJP urges rule of law in govt’s affairs

Zardari inaugurates Benazir Apna Ghar Scheme

$16.39bn 14.44% $8.88bn $15.37bn $(6.49)bn $(504)mn $4.43bn $746mn Rs 495bn $58.41bn Rs 5234.9bn $287.9mn -2.58% 4.10% $1,051 171.40mn

Portfolio Investment

Index

Jinnah wanted Pakistan an Islamic state: AQ Khan

KARACHI: The nation celebrated the 135th birth anniversary of the founder of Pakistan Quaid-e-Azam Mohammad Ali Jinnah with national spirit and enthusiasm on Saturday and with a pledge to sacrifice lives for sovereignty and territorial integrity of the country, besides giving equal response to enemy in case of war and making Pakistan strong and prosperous

in line with the wishes and vision of father of the nation. The day was declared a public holiday in Pakistan and Azad Jammu and Kashmir (AJK). The day dawned with special prayers in mosques for the soul of the great leader Quaid-eAzam Mohammad Ali Jinnah and prosperity and development of the country. A 31-gun salute in the Federal Capital and 21-gun salutes in provincial capitals given to the Founder of Pakistan. National

flag hoisted atop government and semi-government buildings. The representatives of three services (Army, Navy and Air Force) laid floral wreaths on behalf of their respective services at the mausoleum of the Quaid in Karachi. Number of political, social, cultural and educational organizations held programmes to mark the occasion in a befitting manner. Radio and television aired special programmes on the life, ideals and achieve-

ments of Quaid-e-Azam. President Asif Ali Zardari visited the mausoleum of the Quaid to pay homage to the Founder of Pakistan. He laid floral wreath, offered Fateha and recorded his impressions in the visitors' book. The President was accompanied by the Governor of Sindh, Dr Ishratul Ebad Khan, on the occasion. Sindh Chief Minister, Syed Qaim Ali Shah, along with members of the provincial cab-

inet, also visited the mausoleum of Quaid-e-Azam, laid floral wreath and offered Fateha. Earlier, a smartly turned out contingent of the Gentlemen Cadets of the Pakistan Military Academy (PMA), Kakul, mounted ceremonial guard at the Mazar of Quaid. The representatives of the three services also laid floral wreath and offered Fateha. People from various walks of life visited the mausoleum of the Quaid to pay homage to the

father of the nation. Various organizations and academic and other institutions organized programmes to pay homage to the Father of the Nation. The newspapers published special supplements and electronic channels and radio aired special programmes on the occasion of the birth anniversary of Quaid-e-Azam. Seminars and conferences organised throughout the See # 17 Page 7


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Sunday, December 26, 2010

KCCI persistent in resolving trade issues KARACHI: Karachi Chamber is the platform that is meant to highlight the issues of the business community in an unbiased way and all the efforts are being made at grass-root level to resolve the problems faced by business and trade. We have highlighted the issue of RGST on every forum while the members are suggested to raise their issues in sub-committee meetings using this platform, said Muhammad Saeed Shafiq, President Karachi Chamber of Commerce and Industry (KCCI) at the first meeting of the Taxation Sub-Committee. Anis Majeed, Chairman Taxation Sub-Committee, KCCI, assured that he would make all efforts to meet the trust of BMG, office-bearers and his colleagues in the managing Committee and all business community. Anis thanked Siraj Kassam Teli, Chairman BMG and Former President, Zubair Motiwala, Haroon Farooki, Anjum Nisar, Vice Chairmen BMG and

Former Presidents, Muhammad Saeed Shafiq, President, Talat Mahmood, Senior Vice President and Junaid Esmail Makda, Vice President for selecting him on this key position. Addressing the 1st meeting of Taxation SubCommittee at the Chamber, he said that in the current economic turmoil especially when the tax rates were so high and cost of doing business was increasing day by day, burdening the business community with additional taxes would only add up the problem and eventually result in loss of revenue to the national exchequer. Anis Majeed was of the firm view that in the present state of affairs, the government could not make it out from the fiscal disorder without taking onboard all associations of Karachi, as Karachi is the industrial hub of the country and Karachi chamber is the largest chamber of the nation. Majeed said that the Chamber and BMG has made all efforts and pro-

posals to rectify tax anomalies and reduce the tax burden from business community at all forums including the National Assembly. Chairman Taxation Sub-Committee invited proposals and suggestions from the diverse audience present during meeting. Anis Majeed expressed his views and future plans in detail on different provisions of taxes including minimum tax, rates and status of withholding agent for individuals, increased slab of tax rate for AOPs, problems faced by importers at Custom stage, major working capital and liquidity problems of Textile sector and corruption and lack of enforcement and collection in the overall tax structure accompanying with undue audits and delay in refunds. Exports and foreign trade is the lifeline of any country particularly like an emerging economy such as ours and we should capitalize on our exports in prevailing conditions of depreciating currency value.-APP

KARACHI: Cheif Minister Syed Qaim Ali Shah and his cabinet members offering fateha on the grave of Quaid-e-Azam Muhammad Ali Jinnah on his 135th birthday anniversary. -Online

PMA cadets perform guard at Quaid’s mausoleum

KARACHI: Pakistan Army soldiers prade at Quaid’s Mausoleum on the eve of the 135th birthday aaniversary of Quaid-e-Azam Muhammad Ali Jinnah. -Online

Qaim pays homage to Quaid KARACHI: Sindh Chief Minister along with members of provincial cabinet here on Saturday visited the mausoleum of Quaid-iAzam Muhammad Ali Jinnah to pay homage to the Father of the Nation on the occasion of his 134th birth anniversary. He laid a floral wreath, offered Fateha and recorded his impressions in the visitors' book. The Chief Minister said that the Muslims of the sub-continent got a separate homeland under the dynamic leadership of Quaid-i-Azam Muhammad Ali Jinnah who also gave to the people the golden principles of unity, faith and discipline to guide them for making headway in the comity of nations. The members of the provincial cabinet- Pir Mazhar ul Haq, Agha Siraj Durrani, Manzoor Wassan, Syed Sardar Ahmed, Dr Mohan Lal, Amir Nawab and advisers to the Chief Minister- Rashid Rabbani, Siddiq Abu Bhai, Sharmila Faruqui were also present on the occasion.-APP

Sassui opens Quaid’s photo-expo

LARKANA: Sindh Minister for Finance Syed Murad Ali Shah visiting the newly established Sindh Bank to be inaugurated on 26 December at Naudero.-APP

ISLAMABAD: Federal Minister for Women Development Dr. Firdous Ashiq Awan and Federal Minister for Minorities Affairs Shahbaz Bhatti cutting the cake during the Christmas celebrations with minority women for Inter-Faith Harmony. -APP

ISLAMABAD: Chairperson Red Cresent Nilofer Bakhtiar cutting the Christmas cake to mark the Christmas celebations at Red Crscent Offices. -APP

KARACHI: Sindh Minister for Culture Sassui Palijo said on Saturday that Quaid-e- Azam Mohammad Ali Jinnah was the great person who spent his life with principles and dignity. This she said while talking to media after inaugurating the pictorial exhibition on life of Quaid-eAzam Mohammad Ali Jinnah organized by the Culture Department at arts Council of Pakistan here. Sassui Plaijo said that Quaid-e-Azam Mohammad Ali Jinnah was a great leader, who had given the concept of welfare state which was followed by Quaid-e-Awam Shaheed Zulfiqar Ali Bhutto and Shaheed Mohtarma Benazir Bhutto. She said that Quaid also laid the foundation of religious harmony declaring that there would be no discrimination on the basis of religion, cast, color and creed.-PPI

PPP seeks consensus over RGST: minister KARACHI: Federal Minister for Labour and Manpower Syed Khurshid Ahmed Shah Saturday said that PPP-led government has the required majority for passage of Reformed General Sales Tax (RGST) Bill in the National Assembly but it wants national consensus on the bill. While talking to PPI here at Chief Minister's House, he said: "If we could not pass RGST Bill, any next government would have to do this because RGST is the need of Pakistan. He said that RGST is

national issue and PPP has always dealt national issues with complete consensus in the parliament. "We have never used our majority power on any issue in the Parliament. Shah said, "We are in contacts with all parties including Pakistan Muslim League (N) and others" and added that Punjab Chief Minister Shahbaz Sharif has signed the consensus paper regarding the RGST during the meeting of Council of Common Interests (CCI). He said that after the signature of Shahbaz Sharif, other Chief Ministers

including Qaim Ali Shah, Ameer Haider Khan Hoti and Aslam Raeesani too signed the paper regarding the RGST. He said that had anyone denied signing, the matter would have to be moved to the parliament for further decision and only joint session of parliament would have to address the differences of CCI. He expressed hope that this government will approve RGST soon with the complete consensus over on it as RGST would be the more beneficial for economy of the country.-PPI

Traders show trust in their leadership ISLAMABAD: Traders of capital city on Saturday reposed full confidence in the leadership of seasoned national business leaders Tariq Sayeed and Iftikhar Ali Malik saying that these fatherly figures will resolve all outstanding issues of the business community. They have also felicitated newly elected President FPCCI Senator Haji Ghulam Ali, and Vice Presidents Amir Atta Bajwa, and Haji Fazal Ellahi. Malik Sohail Hussain, VP National Traders Alliance (NTA), President Traders Welfare

Association (TWA), Blue Area and former SVP, ICCI said in a meeting that unopposed victory of Businessman Panel in FPCCI elections has proved that trading community trusts Tariq Sayeed. Sayeed is Group Chairman Businessman panel, Vice President Confederation of AsiaPacific Chamber of Commerce and Industry, and immediate past president Saarc CCI who is serving business community with unmatchable commitment since twenty five years, he said. We hope that Sayeed will

promote our cause with more zeal and change the dynamics of system for improvement, he said adding that he will take all the trading community along and resolve issues like RGST and Rent Control Act according to the aspirations of the fraternity. Tariq's agenda for change is in the everyone is interest, he said. Malik Sohail also lauded the untiring efforts of Group Co-Chairman, Vice President SAARC CCI Iftikhar Ali Malik for bringing business community together and helping humanity.-PPI

Pak, Turkey enjoy superb defence ties: Ch Mukhtar ISLAMABAD: Defence Minister Chaudhary Ahmad Mukhtar has said that Pakistan and Turkey enjoy excellent defense cooperation and there is a very good understanding between the forces of the two countries. In an interview here on Saturday, the defense Minister said that Turkey has always helped Pakistan in difficult times. During the operation in Swat, Istanbul provided

Pakistan with free of cost guided missiles and bombs. Chaudhary Ahmad Mukhtar said that Turkish nation and people greatly adore Pakistan and they want to see us as a prosperous and a powerful nation. He said there is also better understanding between the leadership of the two countries. About the Pak-AfghanTurkey trilateral summit, the defense minister said it

was the fifth trilateral summit, providing an opportunity to reflect upon the successes and commitments made in the past. He expressed the confidence that this summit too would have a positive outcome. Responding to a question, the defense minister said that Pakistan is a frontline state in the war against terrorism and it is determined to completely root out the menace.-NNI

Strict security to prevail on BB’s anniversary NAUDERO: Elaborate arrangements have been made to observe 3rd anniversary of slain PPP chairperson Mohtarma Benazir Bhutto Shaheed at Garhi Khuda Bux Bhutto, 3 kilometers from here, on Monday, 27th December under tight security. Pakistan Peoples' Party (PPP) has already issued instructions to all its units and branches to ensure peoples participation in large numbers for which Sindh government has issued strict instructions to all the District Coordination

Officers (DCOs), District Police Officers (DPOs) & Executive District Officers of Health (EDOHs) of the province to provide full security to the coming people and establish medical camps on all routes through which these caravans will pass. Apart from establishing medical camps in their respective districts each district will have also to send two ambulances with doctors, paramedics and medicines to Larkana to provide full medical cover to thousands of people that

are expected to participate in this mega event. All the participants will have to cross through security walk-through gates besides physical check. Aerial surveillance has also been arranged to monitor security arrangements. Karachi traffic police force will look after the traffic arrangements which will arrive here on Sunday along with their vehicles including lifters which have not so far been supplied to Larkana. Over five thousand policemen, rangers, intelligence officers and high ranking

police officers of many districts including DIGs & DPOs will provide foolproof security at the resting place of the Bhutto martyrs. PPP's Central Executive Committee (CEC) meeting will also be held on Sunday evening under the chairmanship of the CoChairman President Asif Ali Zardari. In this meeting most important issues are expected to be discussed confronting the ruling party including the assassination case of Mohtarma Benazir Bhutto, high level party sources told PPI.-PPI

KARACHI: A smartly turned out contingent of Gentlemen Cadets from the Pakistan Military Academy (PMA) Kakul mounted ceremonial guard at the Mazar of Quaid-e-Azam here today as a part of celebrations to mark the father of the nation's birthday. Major General Mazhar Jamil, Commandant Pakistan Military Academy reviewed the parade, laid floral wreath, presented the salute and offered fateha. It is worth mentioning that the first passing out parade of PMA was held on 25th December 1948. It was reviewed by the then Governor General of Pakistan , Khawaja Nazimuddin who presented the Quaid-e-Azam Banner to the champion company. The Pakistan Military Academy, Kakul has the singular honour of being the only military institution, designated, as "Quaid-e-Azam's Own" by the Father of the Nation himself. He was the first and only Colonel-in-Chief of the Academy. The guard mounting ceremony by PMA cadets is a regular annual feature to pay homage to the father of the nation.-PPI

TV PROGRAMMES SUNDAY Time Programmes 7:00 News 8:00 News 9:05 Best of Subah Savere Maya Kay Sath 11:00 News 12:00 News 13:10 Newsbeat (Rpt) 14:10 Awam Ki Awaz (Rpt) 15:00 News 16:00 News 17:30 Samaa Metro 18:00 News 18:30 Samaa Sports 19:30 Taxi News 20:05 The Anchor 21:00 News 22:03 Faisla Aap Ka 23:00 News 23:03 Awam Ki Awaz

SUNDAY Time Programmes 8:00 Chai Time (Rpt) 9:05 Smithsonian Documentry 10:05 Dilkash Pakistan 10:30 Sara jahan(Rpt) 11:15 Karobari Duniya(Rpt) 12:00 News 12:05 Siyasat Mana Hai (Rpt) 13:00 AM News 13:05 Islamabad Say (Rpt) 14:00 News 15:00 News 15:05 Doosra Pehlu (Rpt) 16:00 News 16:05 Filmi Samaa(rpt) 16:30 Red Carpet (Rpt) 17:00 News 17:05 Aap Ka Paisa (Rpt) 17:30 Pakistan This Week 18:00 News 18:05 Sara jahan(Rpt) 18:30 Dilkash Pakistan 19:00 News 19:30 Tijarti Dunia 20:00 News 20:05 Kamyab 21:00 News 21:05 Teesri nazar 22:00 News 22:05 Agenda 360 23:05 Music Scene 23:30 Uff Tv 0:00 News


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Sunday, December 26, 2010

Ms said to plan new Windows for tablets

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Sony Ericsson T303 T707 W302 W380i W350i W395 W595 W705 W980 W902 W995 F305 S302 C510 C901 C902i C903 C905 G502 G700 Aino Jalou U100 Yari Satio Idou Xperia X1 Xperia X10

8,700 16,800 9,600 8,800 7,700 9,700 13,200 19,000 18,200 43,500 25,600 9,400 8,200 12,700 14,800 15,600 16,100 21,400 14,500 12,800 30,800 17,300 18,700 38,700 33,000 47,000

Samsung B130 B220 Guru B300 B3210 CorbyTXT B3410 B3410W Chat WIFI B5722 B7300 OMNIALite B7320 Omnia PRO Guru B100 E1080 E1100 E1125 E2125 E250 D980 (Dual Sim) J150 J700 M150 M200 M620 M3510 Beat b M3710 Corby Beat M7500 Armani M7603 Beat DJ M8910 Pixon 12 C3010S C3053 C3200 Monte Bar C3212 C3303k Champ C3510 Genoa C5212 DUOS S3310 S3653 Corby S3653 WIFI Star S5230 S5230W Star WIFI S5350 Shark S5550 Shark 2 S5560 Marvel S5620 Monte S7220 Ultra b S7350 Ultra s S8003 Jet S8300 Tocco Ultar Edition S8500 Wave I900 Omnia i5700 Galaxy Spica i8000 Omnia II i8510 INNOV8 i8910 Omnia HD i9000 Galaxy S 16GB

2,050 3,900 3,600 8,700 9,500 13,400 15,400 24,000 19,200 2,450 2,200 2,450 3,200 6,050 5,200 20,300 6,550 7,550 5,100 6,200 6,250 9,200 12,700 30,300 32,000 40,600 5,700 6,000 6,900 7,300 7,600 8,800 9,800 7,900 10,600 10,800 11,000 12,300 12,000 14,500 15,600 15,500 21,000 22,100 24,000 28,200 29,900 42,500 25,000 49,500 37,000 43,700 49,000

BlackBerry Bold 9000 Curve 8900 Peral Flip 8220 Pearl 8120 Curve 8310

33,000 30,900 30,000 27,000 29,000

QMobile Q3i E900

5,999 6,999

NOTE: Always visit your local shop for the exact Mobile phone prices.

M

icrosoft Corp is working on a version of its core Windows operating system for devices such as tablets, according to media reports on Tuesday, and the company said its Windows Phone 7 software is making headway in the booming smartphone market. Microsoft plans to unveil a version of its operating software that runs for the first time on processors designed by UK-based ARM Holdings PLC, the Wall Street Journal and Bloomberg reported. ARM's processors dominate the tablet and handheld device market. Microsoft intends to announce a version of its operating system to run on ARM chip architecture, which competes with the "x86" designs favored by Intel, the Wall Street Journal cited people familiar with the plans as saying. It was unclear when such an operating system might come to market, but the US software maker could claim lost ground in tablets and other battery-powered mobile devices by forging a new partnership with ARM. Microsoft and ARM declined to comment. Microsoft said on Tuesday that more than 1.5 million cellphones carrying Windows Phone 7 operating software have sold in the first six weeks of launch, meeting what the company called "realistic"

expectations. Windows Phone 7 may be Microsoft's last chance to establish a major presence in a hot cellphone market now dominated by Apple Inc and Google Inc, analysts say. The sales numbers were disclosed for the first time by Achim Berg, vice president of business and marketing for Windows phones, in an internally conducted interview posted on Microsoft's website.

"It's a decent number. The mobile market is going to be a battle for Microsoft," said Colin Gillis, an analyst with BGC Partners who has a "buy" rating on Microsoft. Microsoft's disappearance from the phone market and its delayed response to tablet devices like Apple's iPad has been seen as a drag on shares this year. Its shares closed up 26 cents on Tuesday at $28.07. DECENT SHOWING But Gillis noted that the shipment of 1.5

million phones was sales into the distribution channel, rather than directly into consumers' hands, which tempers the announcement. Taiwan's HTC, Dell Inc, Samsung Electronics and LG Electronics are among the vendors who have launched or plan to begin selling Phone 7-based devices. The industry is closely watching the early days of what could be a longer-term driver of growth. Gillis forecasts about 25 million Phone 7 sales in 2011. In contrast, analysts e x p e c t Apple to sell more than 60 million iPhones next year. "We all know that the competition is extreme in this industry, and we have to compete on multiple fronts," Berg said in the interview. "We are on a path to begin releasing the first of several updates in the next couple of months, and several more mobile operators around the world will introduce Windows Phone 7 on their network in 2011." Gillis noted that Microsoft is spending $500 million to market the Windows 7 smartphone, and suggested the company could see market gains by using some of that cash to subsidize the devices so consumers get them for free.

sells Outage takes out Skype, Toshiba system chip recovery taking hours to Sony,

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nternet phone and video service Skype went down in a global service outage on Wednesday, underscoring a weakness of the free online communication tool. Skype, partly owned by Web retailer eBay Inc, said some users were having problems signing on. Users in the United States, Asia and Europe complained of the outage on social network site Twitter. In its Twitter feed, the sevenyear-old company apologized for the disruption and said it was investigating the cause.

Around 3:30 p.m. EST, it said the service was returning to normal, but that it may take several hours for everyone to be able to use it again. The so-far unexplained outage, just days before the Christmas holiday, marked the latest blow to the service's reputation. Dropped calls and service quality have long been seen as a weak point for Skype, which offers free voice and video services between users as well as low-cost calls to landlines. It had 124 million users as of

October. The company's last major outage occurred in August 2007 following a routine software upgrade. Many consumers have been reluctant to cut off their landline and rely solely on services like Skype due in part to questions about its reliability. Such concerns, along with worries about online security, have slowed Skype's expansion into the business market. It now also faces competition from rival online phone providers such as Google Inc.

Electric plane from Sonex takes to skies T he world's first electric airplane comes from Sonex and we can say that it looks promising. Of course, electric airplanes aren't as safe as electric cars or bikes, especially if you run out of power in mid air, so we're doubting that we'll see them anytime soon as passenger

aircrafts, but that doesn't

mean that electric airplanes do not exist and that they don't work. The electric airplane from Sonex can fly and it was taken for a test fly recently. In order to prove that their airplane is safe, Sonex chairman and EFlight captain John Monnett flew together in the electric plane.

Samsung

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oshiba Corp will overhaul its chip operations, outsourcing output of some system chips to Samsung Electronics and selling a production line to Sony Corp, as it reduces its non-memory chip exposure. Toshiba, the world's No.3 chipmaker behind Intel Corp and South Korea's Samsung, is restructuring its chipmaking operations after the business logged an operating loss of 280 billion yen ($3.4 billion) in fiscal 2008 amid the global financial crisis. For new orders for the next financial year beginning in April, Toshiba will design cutting-edge system chips but will outsource production to Samsung, and maybe other foundries, to avoid costly capital investment outlays. The rare deal between rivals Toshiba and Samsung, which is expanding into microprocessors, frees up resources for other projects, which analysts see as positive. "Thanks to this tie-up Toshiba will gain a stronger position," Yumi Nishimura, a senior market analyst at Daiwa Securities Capital Markets, said after the Nikkei business daily reported the move earlier on Friday.

Apple TV sales expected to rise to 1 million pple Inc expects sales of Apple TV to top 1 million units this week, showing that the device is gaining traction in bringing the Web to TV. Apple also said on Tuesday that iTunes users are now renting and buying more than 400,000 TV shows and more than 150,000 movies per day. "One million is a real benchmark," said Daniel

A

media companies to license TV networks for a new online pay-television subscription service through the XBox. Google has asked some manufacturers to delay the launch of TV sets with Google TV, according to a published report. Google TV has been receiving lackluster reviews. "It's definitely interesting," BGC Partners analyst Colin

Ernst, an analyst with Hudson Square Research. "To put it in perspective, they are within shooting range of some of the smaller cable operators like Cablevision with 3 million subscribers." In September, Apple introduced a less expensive, smaller version of Apple TV for $99. The move stepped up the battle with the likes of Google Inc and Microsoft Corp, which are all vying for control of the digital living room. In the latest example, Microsoft is in talks with

Gillis said, referring to Apple TV sales. "It's a milestone that Google has not reached." Web-to-TV devices like Apple TV, Google TV and the Xbox's have raised concerns that people will drop pricey pay TV packages, a practice known as "cord cutting." US pay television subscriptions have fallen for two straight quarters -- the firstever occurrence. Still, consumers are slow to adopt changes concerning home entertainment, said Gillis. "Inertia in the living room is strong."

Cambridge arising 'mind reading' computer or years now, researchers have been exploring ways to create devices that understand the nonverbal cues that we take

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gestures, and tone of voice, it is hoped that machines could be made to be more helpful (hell, we'd settle for "less frustrating"). Peep the video after

for granted in human-human interaction. One of the more interesting projects we've seen of late is led by Professor Peter Robinson at the Computer Laboratory at the University of Cambridge, who is working on what he calls "mind-reading machines," which can infer mental states of people from their body language. By analyzing faces,

the break to see Robinson using a traditional (and annoying) satnav device, versus one that features both the Cambridge "mind-reading" interface and a humanoid head modeled on that of Charles Babbage. "The way that Charles and I can communicate," Robinson says, "shows us the future of how people will interact with machines."

Latest Gadgets iPad Car Headrest Cradle

Rollei offer 3D digital camera The new Rollei Power Flex 3D will allow you to produce your own piece of video art, where a couple of simultaneously operating CMOS image sensors will capture 3D images with a maximum resolution of 2592 x 1944 pixels. As for videos, those can be captured for all eternity in brilliant HD quality (not full HD though, so that means you will just have to settle for 720p) that is recorded at 30 frames per second.

TEAC handles all audio needs A device comes along that touts to handle all of a particular need. We have the TEAC Aurb this time around which not only plays nice with your iPhone and iPod , it also doubles up as a CD player and an FM radio, for moments when you've absolutely run out of downloaded tunes to listen to.

The hand that rocks the cradle rules the world, but when the cradle doesn't hold a baby, but an iPad instead? That's what you get with the iPad Car Headrest Cradle, and from the name itself, you can tell that this cradle will actually nestle your iPad lovingly from the back of a car's headrest, making it suitable for movie watching and useful.

PS3 created for the military In the duteous tour of World police, it is safe to say that these brave men and women would have undergone plenty of stress and seen untold horrors. How are they going to destress in the midst of the battlefield? Taking drugs and booze are definitely wrong choices, but playing video game is a good one. Then again, you can say that video game consoles aren't all that tough, and in the event of enemy fire, you might as well kiss goodbye to your saved games.

Kno tablets to students Kno is a company that has come up with a new educational tablet, hoping students will pick it up instead of lugging around heavy textbooks and giving their shoulders a nice workout. Kno's ships tablets will come in two iterations - one with a single screen just like every other tablet device out there, while another will sport a couple of displays, which is pretty much like a blown up Nintendo DS, except that this is more educational centric instead of helping you while your time away playing games.


4 Sunday, December 26, 2010

Interfaith harmony

The Financial Daily International Vol 4, Issue 134

Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi

Jawad Raza Khan

Honorary Advisory Board Haseeb Khan, FCA

S. Muneer Hussain Rizvi

Asim Abbas Ashary, CPA

Khurram Shehzad, CFA

Akhtar M. Zaidi, FCA

Prof. Zakaria Sajid (KU)

Dr. A. Hadi Shahid, FCA

Zahid Bukhari SVP HBL (retd)

Muhammad Arif

Ismat Sabir Head office

111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-35311893-6 Fax: 92-21-35388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com

Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com

Buying urea on deferred payment The key features of the decision made by Economic Coordination Committee include import of 0.255 million tonne urea from Saudi Arabia on deferred payment and payment of Rs6 billion subsidies. However, it remains to be decided whether the Trading Corporation of Pakistan or the private sector will be given the mandate to import urea. First of all it is necessary to thank the Saudi Government for the offer to supply urea to Pakistan on deferred payment for containing immediate outflow of foreign exchange but one point must be very clear that sooner or later this payment has to be made. The delay in accepting the offer is also beyond comprehension. The option is being exercised at the eleventh hour and the objectives of ensuring ample availability and price stability may not be achieved at all. Since the quantity is rather small as compared to the collective production of urea manufacturing plants, there is no need for government to pay any subsidy. The government should ask the urea manufacturing companies to import and distribute the commodity at their own. However, a joint letter of credit should be opened by the importing companies to save freight and handling charges. To begin with the need for importing urea has not arisen had the fertilizer plants were supplied full allocated quota of gas. Experts has been opposing curtailing gas supply of fertilizer plants and diverting it to thermal power plants. It may also be pertinent to mention delay in commencement of expansion plant of Engro Fertilizer, which is now scheduled to start commercial production with a delay of nearly six months. The overwhelming perception is commencement of commercial production of 1.2 million tons per annum plant is being delayed due to non-availability of gas from Qadirpur gas field. It is also on record that some experts had opposed allocation of gas to Engro's expansion project from Qadirpur field, being of pipeline quality and suggested supplying gas from Mari field, dedicated to fertilizer industry according to Fertilizer Policy 2001. The cost of this stubbornness will be paid by the nation. One could not resist from saying that the need for importing urea has emerged only because of the bad decision to curtail supply of gas to urea manufacturing units. In fact the government should have diverted Rs6 billion for paying the differential between the cost of furnace oil and gas to the electricity generation companies. It is still not too late for the government to review its Fertilizer Policy and withdrawing decision to curtail gas supply of fertilizer plants. If the government is willing to pay subsidy on imported urea, it will be more prudent to spend this amount for paying the difference between the cost of furnace oil and gas.

Disclaimer:

All reports and recommendations have been prepared for your information only. Summary and Analysis are not recommendation to buy or sell. This information should only be used by investors who are aware of the risk inherent in securities trading. The facts, information, data, indicators and charts presented have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. The Financial Daily International and its employees are not responsible for any loss arising from use of these reports and recommendations.

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oday Pakistanis are celebrate the 124th birthday of Quaid-eAzam Mohammad Ali Jinnah. This offers us an opportunity to understand the vision of Quaid regarding interfaith harmony. His guiding principals provide us the guidelines to overcome any challenge. Following his principals in every day life is the greatest tribute we can pay to Founder of Pakistan. One of the biggest imperatives for a nation to prosper and lead the world community is the comprehensive understanding of the founding vision of the State. There can be no doubt regarding visionary leadership of Quaid, which places him as a distinguished personality on the skyline of all time leaders of the world. It is indeed a great point to ponder that how Quaid brought a lasting change in the thinking of Muslims of Indian subcontinent, enabling them to win their political support by sweeping elections of 1946. Despite the fact that during the elections of 1937 Muslim League was defeated by All India Congress on the very land which is now known as Pakistan. This fact of Pakistan's history gives an exhilarating concept of the personality of Quaid which gathered all the Muslims of India on one platform in just nine years of concentrated political struggle. Martin Luther King Jr., an iconic human rights leader of United States, says "A genuine leader is not a searcher for consensus but a molder of consensus", and that says it all about the capa-

bility of Jinnah as a great leader. Although Quaid got little time after the creation of Pakistan but his visionary abilities and quality of farsightedness set the fundamentals of the nation in just one year. Jinnah's concept of Pakistan with relation to Islam needs no further explanation after quoting his speech of 5 March 1948. "No doubt, there are many people who do not quite appreciate when we talk of Islam. Islam is not only a set of rituals, traditions and spiritual doctrines. Islam is also a code for every Muslim, which regulates his life and his conduct, even in politics and social relationship. It is based upon highest principles of honour, integrity, fair play and justice for all. Come forward as servants of Islam organize the people economically, socially, educationally and politically and I am sure that you will be a power that will be accepted by everybody". As a result, Objective Resolution 1940, which is the foundation stone of our constitution, is the precise vision of Quaid. Quaid's perception of Pakistan seems a little misinterpreted phenomenon. To understand it from insight we should be going into the etymology of the word "secular". This will indeed help our young generation to clearly understand the dilemma of our intellectuals who couldn't educate the young minds in this regard. Secular and secularity is derived from a Latin word saecularis meaning of a generation, belonging to an age. The religious doctrine says that God exists outside time, led medieval Western culture to use secular to indi-

cate separation of eternity from worldly affairs ( which are time limited and temporal ones). This meaning has been extended to mean separation from any religion. Factually this does not necessarily imply hostility to God or religion, though some use the term this way. Concept of Jinnah regarding constitution of Pakistan was pure Islamic in nature as he himself described it on a broadcast speech to the people of US in February 1948. "The constitution of Pakistan has yet to be framed by the Pakistan Constituent Assembly. I do not know what the ultimate shape of this constitution is going to be, but I am sure that it will be of a democratic type, embodying the essential principle of Islam. Today, they are as applicable in actual life as they were 1,300 years ago. Islam and its idealism have taught us democracy. It has taught equality of man, justice and fair play to everybody. We are the inheritors of these glorious traditions and are fully alive to our responsibilities and obligations as framers of the future constitution o Pakistan". Jinnah as a great leader of South Asia was definite about the equality of manhood without discrimination on any ground. He was a highly passionate leader who had no place for failure in his life. What made him a universal leader is his love, affection and sincerity towards the minorities. He was convinced and sure about an exceptionally positive role of minorities towards development of Pakistan. In the same broadcast he conveyed his honest sentiments about them. "We have many

non-Muslims - Hindus, Christians, and Parsis - but they are all Pakistanis. They will enjoy the same rights and privileges as any other citizens and will play their rightful part in the affairs of Pakistan. ". The last part of his speech is true Islamic perspective of welfare State which is now wrongly labeled as his secular bearing. Jinnah rose to the pedestal of leadership from a middling back ground and that to from a minority in India made him more conscious about their rights. A compliment to Quaid from the famous book of Jaswant Singh is indeed worth mentioning here. "I admire certain aspects of his personality, his determination and the will to rise. He was a self-made man. Mahatma Gandhi was the son of a Diwan. All these (people) - Nehru and others - were born to wealth and position. Jinnah created for himself a position. He carved in Bombay, a metropolitan city, a position for himself". Such an acknowledgement from a seasoned politician of BJP speaks of an extremely high profile personality of Quaid. His principles and determination to standby for them requires tremendous will power and honesty towards the cause. We, as the followers of our founding father must know and propagate the correct perception of our leader and should take this, as our prime responsibility to the State of Pakistan. Today the Quaid Day must not only be celebrated as a tribute to the great man but we as a nation must promise ourselves to rise, from where ever we are, to the heights, Quaid wanted to see Pakistan.

Indo Russian Ties

Relationship outlive cold war R

ussian President Dmitry Medvedev's warm reception in India, including wrapping up a stealth jet fighters deal potentially worth $35 billion, dispels Russian fears its former Cold War ally has turned to the West. Prime Minister Manmohan Singh, who has in the space of a few months hosted all the leaders of the five permanent members of the UN Security Council, said "Russia is a time-tested friend of India" at the start of Medvedev's two-day trip on Tuesday. "In the past few weeks a number of heads of state have made visits to India. The country has emerged as one of the fastest and (most) powerful economies with more than 8 per cent GDP growth rate," Foreign Minister S.M. Krishna said on Wednesday in New Delhi. "In the whole world only India and China could withstand the recession in the past. This shows the resilience of India and its increasing role in world politics and economy," he said. Russia has been India's close economic and political partner since Soviet days, and monopolized India's defense market for decades, but India has been steadily reducing its reliance on one country to reflect its growing influence on the world stage. "President Dmitry Medvedev has done well to dispel the growing misperception that Indo-Russian relations have lost their salience amidst India's new warmth with the US and the West," the Indian Express news-

paper said in an editorial. From Russia with love Medvedev was scheduled to spend his last day in India visiting the Taj Mahal in Agra, meeting students in Mumbai and touring "Bollywood" film studios, a big export industry to Russia. Medvedev, a photography buff who frequently posts his own photos on

Reform is unlikely to happen quickly, however, with China decidedly lukewarm about admitting its regional rival to the UN top table. India's growing ties with the United States, underscored by a landmark civil nuclear deal has made Russia ill at ease. India, the second fastest-growing major economy in the world after

Russia has been India's close economic and political partner since Soviet days, and monopolized India's defense market for decades, but India has been steadily reducing its reliance on one country to reflect its growing influence on the world stage. the Internet, took pictures of the 17th century monument dedicated to love, the state-run news agency RIA said. "The Taj Mahal is a unique achievement of mankind," Mevedev wrote in the guest book. Russia joined the United States and France in offering support for India for a permanent seat at an expanded Security Council to reflect the growing might of emerging economies. s India says a seat on the Security Council would reflect the G-20 nation's importance as its $1.3 trillion economy helps spur global growth and its government exerts more and more influence over issues from Doha trade to climate talks.

China, is one of the top arms importers and plans to spend about $50 billion on defense in the next few years to upgrade its aging Soviet-era arsenal, mainly to counter a perceived China threat. World leaders, accompanied by top executives, are hungry to secure a slice of India's largely undeveloped economy, expected to grow at neardouble digit rates for the next decade, making it one of the five largest economies in the world by 2020. Bargaining power Russia has long seen India, which has a tradition of trying to ensure it does not walk a careful line to avoid backing one camp over another, as a

counterweight to China and a potential ally in Afghanistan. "The strategic, economic and political importance of Russia cannot be overstated," said Bhaskar Roy, a New Delhi-based strategic affairs columnist. "India needs Russia for its energy requirements, to counter-balance China, for retaining influence in Afghanistan once the Western troops leave, for influence in energy-rich Central Asia, and generally for support and backing at all major international form. India needs Russia to realize its ambitions, global goals," Roy said. No details were given as to the size of the potential aircraft deal between Russia and India, but both countries have in the past talked about producing 250-300 such fighters over 10 years, unofficially said to be worth about $35 billion. "That in turn has enormously increased India's bargaining power with the US and European suppliers of advanced conventional weapons," the Indian Express said. Boeing's F/A-18 Super Hornet, France's Dassault Rafale, Lockheed Martin Corp's F-16, Russia's MiG35, Sweden's Saab JAS-39 Gripen and the Eurofighter Typhoon are competing for a separate order from India for 126 fighter jets, valued at about $10.4 billion. India and Russia agreed to open talks on building a third and fourth reactors for a nuclear power plant in India's southern state of Tamil Nadu, but failed to sign a firm deal because of Russian concerns over a recently passed liabilities bill. Reuters

Can world withstand $100/barrel oil price? T

he global economy can withstand an oil price of $100 a barrel, Kuwait's oil minister said on Saturday, as other exporters indicated Organization of Arab Exporting Countries (OPEC) may decide against increasing output through 2011 as the market was well supplied. Analysts have said oil producing countries are likely to raise output after crude rallied more than 30 percent from a low in May because they fear prices could damage economic growth in fuel importing countries. European benchmark ICE Brent crude for February closed at $93.46 on Friday after hitting $94.74 a barrel, its highest level since October 2008. Arab oil exporters meeting in Cairo this weekend said they saw no need to supply more crude as stocks were high and prices had been inflated temporarily by cold weather in Europe. When asked by Reuters if the world economy could stand a $100 oil price, Kuwaiti Oil Minister Sheikh Ahmad al-Abdullah al-Sabah said: "Yes it can."

Iraq's new oil minister and the head of Libya's National Oil Corporation both told Reuters that $100 was a fair price, while Qatar's Minister Abdullah al-Attiyah said he did not expect OPEC to increase production in 2011. "I do not expect an OPEC meeting before June because oil prices are stable," he said. Some delegates even called for exporters to comply better with agreed production limits. OPEC members' compliance with promised cutbacks reached 56 percent in November, according to Reuters estimates. When asked if output could be raised, Kuwait's Sheikh Ahmad said, No, the need of the time is more compliance. MARKET WELL SUPPLIED The Cairo meeting of the OAPEC brought together Arab members of OPEC including top exporter Saudi Arabia, which has traditionally been viewed as a price moderate, as well as non-OPEC countries Tunisia, Egypt, Syria and Bahrain. OPEC cut output drastically after the global financial crisis struck in 2008 to prop up collapsing oil prices.

As demand has risen steeply in 2010 and is expected to rise further in 2011, the market is watching closely whether OPEC can release at least some of its spare capacity to prevent prices from soaring to around $150 per barrel as they did before the crisis struck in summer 2008. OPEC's most influential oil minister, Saudi Arabia's Ali al-Naimi, said on Friday he was still happy with an oil price of $70-80 a barrel and there was no need for an extra OPEC meeting before the next scheduled one in June. Others in the group have been pressing for a higher price, arguing that quantitative easing and a weakened US dollar that spurred gains across financial markets mean the oil price strength is partly nominal. Egyptian Oil Minister Sameh Fahmy said the current increase in oil prices was the result of higher demand on heating fuel because of the cold weather in Europe. United Arab Emirates Oil Minister Mohammed al-Hamli said crude oil inventories are "quite high. It's the highest over the five years average... The market is well supplied." Reuters


5 Heartburn drugs Fatty acid in dairy foods can increase may lower diabetes risk pneumonia risk P P Sunday, December 26, 2010

eople on two types of widely prescribed heartburn medications may have a higher-thanaverage risk of developing pneumonia, a new research review finds. The drugs in question belong to two classes frequently used to treat heartburn or stomach ulcers: proton pump

inhibitors, which include drugs like Nexium, Prevacid and Prilosec; and H2-receptor blockers, such as Pepcid and Zantac. In the US alone, people spent $27 billion on these medications in 2005. Some studies have found a connection between the heartburn drugs and a heightened risk of pneumonia. One theory is that by curbing stomach acid, the medications allow ingested bacteria that would otherwise be killed to instead survive and thrive -and potentially get into the lungs. For the new analysis, South Korean researchers pulled together 31 international studies looking at the connection between heartburn drugs and pneumonia. When they combined the studies' results, they found that people on either proton pump inhibitors or H2 blockers were about one-quarter more likely than non-users to develop pneumonia. Some studies focused on people who became infected while in the hospital, where pneumonia is a common, and often deadly, problem. Other studies focused on out-of-hospital infections. People who used heartburn drugs were at increased risk in either case. The risks to any individual medication user were not huge. The researchers estimate, for example, that among hospital patients on the heartburn drugs, there would be about 25 cases of pneumonia per 1,000 patients. That compares with 20 cases per 1,000 among hospital patients not on the drugs. And it's not certain that the drugs themselves are to blame, Dr. Sang Min Park, one of the researchers on the study, told Reuters Health in an email. It's possible that chronic acid reflux itself could at least partly account for the link, according to Park, of Seoul National University Hospital. Acids that back up out of the stomach can sometimes be sucked into the airways, where they could cause pneu-

monia. Still, Park said the findings suggest that doctors and heartburn sufferers should use some caution when it comes to acid-suppressing drugs. Discuss the pros and cons with your doctor, the researcher advised, and use the medications only if necessary

to control your symptoms -- in cases where diet and other lifestyle changes don't work, for example -- and at the lowest dose possible. Caution would be especially important for people already at higher-thanaverage risk of pneumonia, such as the elderly and people with emphysema or other chronic lung diseases, according to Park. The findings, reported in the Canadian Medical Association Journal, are based on 31 studies from Europe, Asia and North America. Based on the hospital studies, Park's team estimates that acid-suppressing drugs could contribute to an extra four to five cases of pneumonia for every 1,000 hospital patients. The researchers point out that anywhere from 40 per cent to 70 per cent of hospital patients are on one of these drugs. This, they say, suggests that the medications could account for a "considerable" portion of hospitalacquired infections. The researchers could not perform a similar overall estimate for out-ofhospital infections. But one study they reviewed gives an idea of the drugs' potential contribution to pneumonia cases outside hospitals. In that study, Dutch researchers looked at out-of-hospital pneumonia rates among nearly 365,000 adults over seven years. Of the people on proton pump inhibitors or H2 blockers, 2.5 per cent developed pneumonia per year, versus 0.6 per cent of those not on the drugs. Alternative ways to manage frequent heartburn include lifestyle changes, like avoiding foods that trigger symptoms, eating smaller meals and losing weight, and quitting smoking. Over-the-counter antacids, which neutralize stomach acids, can bring quick symptom relief. Some people with frequent or severe heartburn, however, may need an acid-suppressing medication to control their symptoms and prevent or treat damage to the esophagus or stomach lining.

eople with higher intakes of a fat found mainly in dairy products might have lower odds of developing diabetes, a new study suggests. Looking at more than 3,700 US adults, researchers found that those with higher blood levels of the fatty acid -- known as trans-palmitoleic acid -- were about 60 per cent less likely to develop type 2 diabetes over the next 20 years than people with the lowest blood levels. That would seem to run counter to longstanding recommendations to trade in whole milk and cheese for the skim varieties for the sake of health. And experts caution that it's indeed too soon to break out the full-fat dairy. For one thing, whether the fatty acid itself deserves the credit for the lower diabetes risk is not clear. And then there's the fact that full-fat dairy products are often high in calories, which could lead to weight gain -- itself a risk factor for diabetes -- and saturated fat, which could boost "bad" LDL cholesterol and contribute to heart disease. "Dietary recommendations should not be changed based on any one study," said lead researcher Dr. Dariush Mozaffarian, an associate professor at the Harvard School of Public Health in Boston. But he said the findings are "exciting" and warrant further research -- including, at some point, clinical trials in which people would be given supplements of trans-palmitoleic acid to see if the fat itself curbs diabetes risk. The results, reported in the Annals of Internal Medicine, also point to a potential explanation for some previous research that showed dairy lovers to have a lower diabetes risk than people who consume little dairy. Even if the benefit does not come from trans-palmitoleic acid specifically, Mozaffarian said, these findings bolster the case that dairy has

some anti-diabetes property. "I think this study confirms that there is something about dairy foods that's responsible," he said. Mozaffarian said he feels confident, in part, because he and his colleagues were able to account for a range of diabetes risk factors

recent years for its links to elevated LDL cholesterol and heart disease. However, unlike the trans-fats in many processed foods, like cookies, crackers and chips, trans-palmitoleic acid is a natural fat. And so far, Mozaffarian said, research has not linked natural trans-fats in dairy

among the study participants -including their age, weight, exercise habits and general diet. And those things did not explain the link between the dairy fat and lower diabetes risk. Of more than 700 study participants with the highest blood levels of the fatty acid, 38 later developed diabetes. That compared with 94 cases among the 700-plus with the lowest levels of the dairy fat. When the researchers adjusted for the other factors in their analysis, people with the top-20-per cent blood levels of the fatty acid showed a 62 per cent lower risk of diabetes than the group with bottom-20-per cent fatty acid levels. Trans-palmitoleic acid falls into the broad category of "trans-fat," which has become notorious in

and meat to an increased heart disease risk. It may be that at least some natural trans-fats, like trans-palmitoleic acid, have health benefits, according to Mozaffarian. "I think we all have to start looking at dietary fats in a more nuanced way," he said. Animal research offers some hints as to why trans-palmitoleic acid might lower diabetes risk, he adds. A "sister" fat known as cispalmitoleic acid -- which is produced naturally in the body -- has been shown to protect animals from developing diabetes when its production is revved up through genetic manipulation. Cis-palmitoleic acid seems to suppress the liver's overall production of fat and help muscles more efficiently use sugar from food,

both effects that could help ward off diabetes. It's possible that trans-palmitoleic acid from dairy foods mimics its naturally occurring counterpart in the body, Mozaffarian said. "This study is promising," said Constance Brown-Riggs, a registered dietitian and certified diabetes educator based in Massapequa, New York. And given that an estimated 54 million Americans have "pre-diabetes," she told Reuters Health, "the implications of the findings could really be far-reaching." Slightly impaired glucose processing, as evidenced by a fasting plasma glucose test result between 100 milligrams per deciliter and 125 mg/dL, is considered "pre-diabetes" according to the National Institute of Diabetes and Digestive and Kidney Diseases, and a sign of increased risk for progressing to full diabetes. Regarding the current study, many questions remain, BrownRiggs said, and for now, "We can't translate this into any dietary recommendations today." Brown-Riggs, a spokesperson for the American Dietetic Association, also cautioned people against trying to find any one dietary "magic bullet" against diabetes. While some studies have found that dairy lovers have a lower diabetes risk, there are also many studies linking the same benefit to the Mediterranean diet -- typically low in dairy, but high in fats from olive oil and fish, and rich in high-fiber grains, vegetables and legumes. "That just illustrates that there is more than one contributing factor to diabetes risk," Brown-Riggs said. "People often want to hook onto one thing and think that will be the magic bullet," she noted. "At this point, the best defense we have against diabetes is maintaining a healthy weight, getting regular exercise and eating a balanced diet.".-Reuters

Get goodly hair D

on't subject your luscious mane to myths and old wives' tales. Here's what you should avoid doing... Brushing hair several times every night No. This can be fatal for your hair. Hair is fragile. Rough and repeated brushing can cause it to become brittle, and easily prone to breakage. Excessive brushing can also lead to split ends. Instead, what you should do is brush your hair only as much as you really need to, till you get the knots and tangles out. Use your fingers to gently style it, and set your hair as per your style requirements. Using conditioner to fix split ends Don't believe all those advertisements for hair conditioners that promise to repair split ends. Remember, a conditioner is not a glue, it only works to smoothen the rough hair surface, thus making it soft. As any hair expert will tell you, while conditioners work wonders to moisturise your hair and give it that much coveted shine, the only remedy for split ends is to trim them off. The best favour you can do your hair is to get a trim every three months. You'll be surprised how healthy your hair will be. Using large quantities of shampoo and conditioner There's a reason why most shampoo and conditioner usage instructions tell you that all you need, per use, is a coin-sized dollop. While too much of shampoo can cause the scalp to dry out, excessive conditioner will result in your hair looking greasy. The amount you use should depend on only one factor - the

length of your hair. Those with really long hair may need a little more than a coin-sized amount. Brushing hair while it's wet It may seem like an easy option, but brushing

your hair when it's still wet will only result in hair becoming brittle and thus, severe breakage. If the tangles are really bothering you, use

your fingers to unknot them, instead of a brush. Alternatively, you can also use a large-toothed comb. Remember, be kind and gentle with your hair for that shine that will get you all the compliments. Washing hair every two or three days Our immediate environment, with its heat or cold, dust or humidity, etc, takes a toll on hair. Hence, it is very important to find time to give your hair some TLC. As far as washing hair is concerned, there is no timetable for how often you must wash it. While for some, washing it every alternate day may work, there are some who may need to wash their hair every day. Do not follow another person's routine What works perfectly for your friend or even sister, may not necessarily work just as well for your hair. What you need to take into consideration before deciding your wash routine, is your level of activity, your hair's exposure to the environment and your hair type. Colouring hair is bad One of the best ways to stay trendy is to get your hair coloured. Contrary to popular belief, using hair colour is not as damaging as claimed by many. These days, with technological revolutions, colouring products have become more gentle and hair-friendly. Hence, you can use them without much worry. What's more important is to follow a good post-colour care routine. Use a shampoo and conditioner meant for coloured hair only.

Butter versus margarine! F

or years we have been discouraged from eating butter, largely due to its high fat and calorie content and nutritionists have often suggested margarine as a healthier substitute. However, a recent study conducted by Harvard University, suggests the contrary. Although they are both sources of fat, butter and margarine contain different kinds of fat, which is important when deciding which one of the two is a healthier option, suggests the study. What is margarine? Margarine is used as a substitute for butter and it contains saturated fats. These are produced when hydrogen is heated in order to harden vegetable oils. It is often claimed that margarine contains polyunsaturated fats that contain Omega 3 and Omega 6 oils which are essential fatty-acids, but the

body cannot manufacture them. However, the high temperature needed to produce margarine, destroys and vitamin E and other

the body. One of margarine's supposed virtues is that it can help reduce cholesterol levels in the bloodstream, and thereby afford

Difference between margarine and butter: Both Margarine and butter contain the same amount of calories

the bones and has many nutritional benefits. Ill-effects of margarine: Excess intake of margarine can

nutrients left in the oil. The final product contains trans-fatty acids which increase inflammation in

some protection from 'cardiovascular' conditions such as heart diseases and strokes.

present in them. On the contrary butter contains natural fats, which are essential for the strengthening

worsen illnesses such as colitis and arthritis. The hardening agents used in the production of

margarine include nickel and cadmium. Nickel is a toxic metal that when consumed in excess, causes lung and kidney problems. Cadmium is among the most toxic of the heavy metals. It may contribute to serious diseases such as arteriosclerosis, high blood pressure and malignancy. The study conducted at Harvard University, found that a diet high in trans-fat, which doubles the chance for heart attack and decreases life expectancy. Solution: The best way to control the rising cholesterol levels, is by eating everything in moderation and not anything in excess. All products such as eggs, full cream milk, etc. contain minerals and proteins which are essential for the bones and cutting out these products will only lead to further health hazards.


6

Analysis & Feature

Sunday, December 26, 2010

US BOND MARKET BRACES FOR HIGHER YIELDS IN 2011 W

all Street expects higher Treasury yields next year, and one primary dealer has the 30-year bond hitting 6 per cent for the first time since 2000. But investors will have to be nimble, since variables such as the pace of US growth, high US deficits and Europe's lingering debt crisis probably means that any rise in yields proceeds in a zig-zag pattern rather than a straight line. Yields, which move inversely to the price of

naturally going to be higher" next year, said Michael Mata, who manages assets worth $600 million for the ING Global Bond Fund in Atlanta. A 3 per cent to 3.20 per cent range should be a floor for benchmark 10-year yields, he said, "and 3.75 per cent to 4 per cent will be touched sometime in the first half of next year." That would take yields back to levels seen in early 2010, when the 10-year peaked at 4.01 per cent before plunging on fear of

The Federal Reserve, of course, has been a major source of Treasury demand, and a pledge to buy $600bn worth by the middle of 2011 in an effort to boost the economy will soak up some of that supply. But analysts fear that can’t go on forever,particularly if US growth starts to stoke inflation. bonds, slumped for much of 2010 as fears that the United States would slip back into recession drove a safety bid for bonds, but yields recovered as economic data improved. A deal in December to extend US tax cuts and temporarily cut the payroll tax drove 10-year yields to a seven-month peak near 3.57 per cent and left Wall Street betting that 2010's halting recovery would blossom into self-sustaining, if not overwhelming, economic growth in 2011. "My expectation after the fiscal stimulus from the payroll tax holiday is the ranges of yields are just

a double-dip US recession and Europe's debt woes. The 10-year yielded 3.36 per cent on Thursday, about 100 basis points above its 2010 low. A recent Reuters poll of primary dealers had a median 2011 growth forecast of 3.05 per cent, up from 2.7 per cent in early December. Goldman Sachs expects the economy to expand at a 3.4 per cent rate. Analysts said that trend will draw investors toward equities, commodities and inflation-linked securities and reverse the massive inflows into bond mutual funds seen in 2010.

Domestic investors have yanked some $2 trillion out of zero-rate money market funds over the past 20 months, according to iMoneynet data, with much of it landing in bond funds. Mata said much of that money will now find its way into equity funds in 2011. "It won't be a tidal wave out of Treasuries, but this year the flows were just tremendous." In what could be a preview of things to come, Investment Company Institute data showed investors pulled $8.6 billion from US-listed fixed income funds in the week to Dec. 15, the biggest weekly outflow in more than two years.

SHUNNING SOVEREIGNS Another force that could undermine Treasuries is a growing distaste for sovereign debt, particularly that issued by developed countries with high deficits and subpar growth. Citigroup's chief economist said this year that Europe's debt turmoil may be the "opening act" of a debt crisis that could even infect the United States. While not in straits as dire as Ireland or Greece, the United States does run a budget deficit above $1 trillion, one of the largest peacetime shortfalls in its history. The tax cut deal could swell it further, as it will require Treasury to issue still more supply to

offset a shortfall in tax revenues. Guy LeBas, chief fixed income strategist at Janney Capital Markets, said the US tax cut deal "not only (adds) to 2011 and 2012 supply but it's convincing markets that supply will be elevated above expectations for years into the future." The Federal Reserve, of course, has been a major source of Treasury demand, and a pledge to buy $600 billion worth by the middle of 2011 in an effort to boost the economy will soak up some of that supply. But analysts fear that can't go on forever, particularly if US growth starts to stoke inflation. "The market understands

that while the Fed is buying more now, it will have to sell later," said Ward McCarthy, chief financial economist at Jefferies & Co's fixed-income division. Other buyers, including foreign central banks, the other pillar of Treasury demand, may require higher yields to step in. In fact, central banks' Treasury demand has started to level off recently after rising sharply in 2009 and early 2010, according to Treasury Department data. Jefferies expects these pressures to help push the 10-year yield to 5 per cent in 2011 and the 30-year yield to 6 per cent, a level it hasn't seen since 2000. AN ALTERNATIVE SCENARIO

Analysts warn, however, that a number of short-term risks could complicate matters. If Europe's debt crisis spreads from Ireland to Spain and beyond, US yields would likely fall on a safe-haven bid, much as they did in early 2010. Likewise, if inflation forces China to tighten monetary policy sharply, that could slow global growth and the US economy. "Our 2011 base case," Morgan Stanley Smith Barney's investment committee said in its annual outlook, "is for yields to follow a volatile, sawtoothed ascending pattern." For some, though, the problem with a higher yield forecast is a simple one: with unemployment at 9.8 per cent and the housing market still fragile, the US economy simply can't sustain much higher long-term interest rates. "It's not that the economy isn't getting better -- it is," Deutsche Bank strategists wrote in a note to clients. "Instead it is that there are so many headwinds to work through that recovery is not consistent with premature monetary tightening, either by the Fed or the markets." They add they expect Treasuries to rally in 2011 and "once again disappoint the economy optimists." Robert Tipp, chief strategist at Prudential Fixed Income, said even with a growth rate above 3 per cent next year, "we'd be lucky to see unemployment drop below 9 per cent. "We've had a big upswing on optimism on the economy but the fact remains that inflation is likely to stay low and the Fed is likely to keep interest rates near zero for some time," he added. "There's a good chance that a year from now, rates will not be a lot higher than they are right now." -Reuters

Korea threat seen rhetoric but risk still watched P

olitical analysts and local markets may largely write off North Korea's threat of a nuclear "sacred war" as rhetoric, but the risk of conflict on the peninsula has clearly reached the radar of global investors. North Korea's minister of armed forces accused South Korea of trying to start a war by conducting live fire drills on Thursday, saying Pyongyang was prepared to wage war against its neighbor "at any moment necessary." While local Korean and Japanese markets have tended to shrug off

repeated threats from Pyongyang, partly because of a perceived very low risk of war already priced into assets, wider global investors have begun to take much more notice. "In terms of rhetoric, this is the sort of thing we've heard before," said Alastair Newton, a former British diplomat and senior Cabinet Office official who is now political analyst for Japanese bank Nomura. "But there's no doubt we are... in the most dangerous situation on the Korean peninsula in decades." Tensions have risen

steadily after the sinking of a South Korean corvette in March and the shelling last month of an island. South Korean President Lee Myung-bak said earlier on Thursday its military should launch a "merciless counterattack" if the North attacked again. While most agree war is a remote possibility, events on the peninsula now figure in research notes from major banks such as Bank of New York Mellon, Royal Bank of Canada and Sweden's SEB, to name but three. The November 23 artillery exchange hit

markets around the globe already made nervous by Ireland's economic woes. It helped push gold to a one-week high, US Treasuries up 0.4 per cent and US and European stock futures down between 0.4 and 0.9 per cent. The Korean won and Japanese yen also suffered. Investors and analysts shrugged off the latest statements, which had no impact on thin preChristmas trade. Experts said the threat was not in itself a huge departure from previous rhetoric -but warned the secretive North Korean regime

remained all but impossible to predict. BLUFF ASSUMED "Of course you would always assume that they are bluffing but with these guys you never know," said Oliver Thraenert, senior fellow at the German Institute for International and Security Affairs. For now, the situation may have plateaued. The South has demonstrated a degree of strength after the shelling last month, while the North has held back from its threats to retaliate militarily for the live firing. But it would not take

much to stoke the fire further. The South's government will come under growing domestic political pressure to retaliate if the North attacks again. "If we do get more shelling or other major provocations, I think you could see a stronger retaliation from the South," said Control Risks' North Asia analyst Andrew Gilholm. "I don't think it would be a ... widespread attack on Pyongyang or anything like that. I think it would simply be targeting the border area facilities that had fired. That would obviously be worrying

but I still think it would be contained short of a war." Even so, markets would be shaken in quiet holiday trade -- leaving investors even more cautious than usual as they leave their trading positions over the long endof-year break. NIGHTMARE SCENARIO "It means you trim back on your riskiest assets, build safe haven positions like US Treasuries," said Nigel Rendell, foreign exchange strategist at Royal Bank of Canada. "Some guys are going away for 10 days and you

don't want to be caught out." The nightmare scenario -- very unlikely but still a question mark in the minds of investors especially in far-away places - would be a return to allout war, with devastating human and economic consequences. "That would bring with it a considerable danger to the existence of the North Korean regime -and our base case scenario is that the regime is logical and still wants to ensure its own survival," said Nomura's Newton, who visited Pyongyang earlier this year. -Reuters

European airlines unfazed by oil price spike E

uropean airlines, hit in 2010 by labour strikes, the volcanic ash cloud and an early onset of snowy winter weather, are taking surging oil prices in their stride thanks to fuel hedging. Crude oil prices, the key factor in fuel costs, have risen above $90 per barrel for the first time since October 2008, heralding a swelling fuel bill for airlines around the world. But a return by airlines to hedging policies that will offset higher oil prices means that airlines are prepared and investors

have less to fret about. "On the whole, hedging policies work and even Ryanair found that out rather late in the day," said BCG strategist Howard Wheeldon. Irish no-frills carrier Ryanair used to hedge a lower level of expected fuel price exposure than rivals, saying it saw massive speculation in oil markets. It remained largely unhedged at oil prices well above $100 per barrel. Soon after, CEO Michael O'Leary admitted he had "screwed up" by not hedging the compa-

ny's fuel needs at prices under $100 per barrel. Now Ryanair has hedged 90 per cent of its fuel price needs for the fiscal year through March. During the global economic crisis, many airlines had shunned hedging in a bid to save money in the short term as demand for air travel slumped. Having failed to lock in contracts when fuel was relatively cheap they lost millions of dollars last year. Now it looks like airlines have started packing on hedging contracts again in anticipation of oil

prices pushed higher by global economic recovery over the next couple of years. To protect themselves against swings in fuel costs, one of the industry's biggest cost factors, airlines buy hedge contracts with which they pledge to pay a certain price for jet fuel they buy in the future. But as they usually start locking in prices a year or two in advance, they cannot adjust policies quickly enough to adapt to rapidly changing prices. German flagship carrier Lufthansa, which had hedged 68 per cent of its

estimated 2011 fuel price exposure by Dec. 1, said it will break even in terms of fuel hedging at an average oil price of $88 per barrel next year. Lufthansa spent 3.9 billion euros ($5.12 billion), or almost a fifth of its revenues, on fuel in the first nine months of the year. That figure would jump to 6.5 billion euros if the average 2011 oil price was at $104 per barrel. "It's a zero-sum game," said Gert Zonneveld, an analyst at Panmure Gordon who covers among others Lufthansa rival British Airways.

"You smooth the peaks and the troughs, you create more stability for your business, you can budget more easily because you know what the price is going to be." British Airways is 82 per cent hedged for the quarter ending next week, up from 74 per cent for the year-earlier period. At the same time, it is conservative for the longer term, with a cover of only 30 per cent for the fiscal year to March 2012. As most airlines hedge their exposure to fuel costs up to one or two years in advance, any

spike in fuel prices takes a while to trickle down to profitability, so analysts say it's not 2011 results they would worry about. "The issue is that if oil does stay at these higher levels then they're likely to be affected in 12 months time with their 2012 profitability," said Macquarie analyst Paul Butler. "But so long as the economic recovery continues to go ahead, I think that they would probably be able to offset much of that by putting up ticket prices." Global airlines group IATA said in

September it expected oil prices to remain relatively stable at $79 per barrel, but it still warned that industry growth would slow after pent-up demand for travel and freight transport dissipates. Last year, oil prices dropped to less than $50 per barrel and some said the era of major fuel price hedging had ended. Airlines' current hedging levels suggest otherwise. "A sensible airline will not have made any particular adjustment. If they did, they will regret it," BCG's Wheeldon said. Reuters


7

Sunday, December 26, 2010

Novartis to invest $500mn in Russia over 5 years

NEW YORK: A sign for Pharmaceutical company Pfizer is displayed on 42 Street.-Reuters

US rejects Teva version of MS drug, but shares up NEW YORK: US regulators rejected a lower-volume form of Teva Pharmaceutical Industries Ltd's Copaxone multiple sclerosis treatment, but the drugmaker's shares rose as the decision could mean a delay for generic competition to its biggest product. Analysts said the Food and Drug Administration's rejection suggests that rivals seeking to make generic versions of Copaxone, like Momenta Pharmaceuticals Inc and Mylan Inc, may encounter obstacles in winning approval. The potential for a generic Copaxone is a major issue weighing on shares of the Israel-based drugmaker. "The FDA's letter highlighted the high hurdle potential generic manufacturers of Copaxone face in gaining approval," JP Morgan analyst Chris Schott said in a research note on Thursday. "Today's news, in our view, increases the probability of

No #1

clinical data requirements for generic Copaxone manufacturers," said Schott. Teva is the world's largest generic drugmaker, but it is heavily reliant on its branded Copaxone, which had $2.8 billion in sales last year and is administered by injection. Although the new version contains the same amount of active ingredient as the product on the market, the FDA said it was not entirely clear how the drug worked or how changing it could affect patients' treatment, according to Teva. The FDA said in a letter to the company that "because the mechanism of action of Copaxone is not fully understood, even a formulation change could impact clinical outcomes," Teva said in a statement. Unless Teva can prove there is no effect on how well the drug works, it would need to conduct "an adequate and well controlled" study to prove its

Continued from page 8

"After receiving a credible threat to attack the US Embassy, Isaf coordinated with Afghan security forces to move on an area of interest," Isaf said in a statement late on Friday. "Intelligence reports indicated there were two vehicles parked there that were thought to be loaded with explosives." As the troops moved in, they were shot at and during the clash two men, said by Afghan officials to be Afghan security guards, were killed, two wounded and 13 more apprehended, Isaf said. "A high-ranking Afghan National Security Forces commander arrived and took command of the scene. He personally vouched for those detained in the operation and they were subsequently released," Isaf said. The coalition said a large number of weapons were found during the operation, but did not say if any explosives were found. It said the target area was near an office building in Kabul, but gave no further details. A police official in Kabul said the raid targeted a security firm named National Tiger which was responsible for providing security and transport for at least three Afghan businesses. Afghan Interior Ministry spokesman Zemari Bashary said on Friday the incident was being investigated. The use of "night raids" on private homes by foreign troops seeking insurgents has long angered Afghan officials. Rules governing their use were tightened in 2009 and again this year but it is far less common for raids to be carried out by foreign troops on private security companies. Under the new rules, raids must be cleared by Afghan authorities first and must involve Afghan troops. Violence is at its worst in Afghanistan since US-backed Afghan troops ousted the Taliban in 2001, with record deaths on all sides of the near-decade long conflict. -Agencies

effectiveness, the FDA said, according to the drugmaker. The FDA's response supports the company's belief that even slight changes to a drug like Copaxone "can significantly and unpredictably influence the efficacy, toxicity and immunogenicity profile of the compound," Teva said. Teva has long maintained that Copaxone is a difficult product to replicate and has said that any potential generic version should be evaluated with full-scale clinical trials. "Their perspective is: Look, we're the company that manufactures this drug, and if we can't even get another formulation approved by the FDA," what chance would rivals have, said Morningstar analyst Michael Waterhouse. Teva said it would continue to work with the FDA on possible next steps for the lower-dose version. Shares of Teva were up 2.6 per cent at $52.54 in afternoon trading on Nasdaq. -Reuters

ZURICH: Novartis AG will invest $500 million in Russia over the next five years, strengthening its position in the country as it joins rivals looking to get around tough rules on imported medicines. The Swiss drugmaker plans to build a new pharmaceutical manufacturing plant in St. Petersburg as part of a partnership, which will focus on local manufacturing, R&D partnerships and public health development, Novartis said. "The ongoing partnership with Russia enables us to expand our commercial presence in a key emerging market," Novartis Chief Executive Joe Jimenez said in a statement on Monday. Emerging markets, such as Russia, are the new battleground for pharmaceutical companies as sales stall in Western markets and companies look for ways to stave off the impact of patent expiries on top-selling drugs and pricing pressures. Novartis's move comes as a number of other international drugmakers start to establish local manufacturing in the country in a bid to sidestep a tougher government stance on imported medicines. Earlier this month, Russian Prime Minister Vladimir Putin warned pharmaceutical companies would face restrictions if they fail to develop local production. Nycomed and Novo Nordisk are among the companies, which have announced plans to start producing in Russia, while GlaxoSmithKline last month struck a vaccine deal with Moscow-based Binnopharm. -Reuters

after top leaders pledged earlier this month that China would move from a "relatively loose" monetary policy to a "prudent" one next year.

No #4

Continued from page 8

are being provided to education and health sectors on priority basis. He said that special attention was being paid to the uplift of backward areas and huge funds have been allocated under special package for the completion of high profile projects. He said that transparency, high standard of construction work and speedy completion of development projects was the policy of the government which is being strictly implemented. Chief Minister directed that committees comprising elected representatives should be constituted in all districts to monitor pace of implementation of the projects. He said that these committees should review the pace of progress of the projects on monthly basis whereas he will monitor these projects every two months. He said that the first three Daanish schools will be inaugurated in southern Punjab in January while in the second phase foundation stone of Daanish school in Dera Ghazi Khan will be laid on January 3.-Agencies

No #5

Continued from page 8

The Egyptian draft, followed series of talks between the Hamas and the Fatah in Cairo in 2009, includes plans to hold new elections in the Palestinian territories, to form a united government and to reform Palestine Liberation Organization (PLO). The Hamas, which routed pro-Abbas forces and took over Gaza in 2007, has several reservations. In Damascus-hosted meetings in recent months, Hamas and Fatah resolved outstanding issues except security-related ones. Abbas said the political split between Gaza and the West Bank "must come to an end," in order to "deal with the (Israeli) occupation using all available peaceful means." "We want to find a solution with the Israelis based on internaContinued from page 8 No #2 this practice and maltreatment was being adopted against tional legitimacy and we also want a Palestinian state with Jerusalem as its capital," Abbas told Christians who travelled Baloch leaders. The PML-N Quaid pointed out that the attitude, which was from Gaza to attend the Christmas in Bethlehem. -NNI adopted against the grandson of Akbar Bugti, was condemnable Continued from page 8 No #6 and questioned why the government wants to make good Baloch to provide agriculture loans particularly the women living in and citizens as rebels through such tactics. rural areas, she was addressing a gathering in connection with the He announced that he urged Prime Minister Syed Yousuf Raza third death anniversary of Benazir Bhutto at a local hotel here. Gilani and Balochistan Chief Minister to handle the issue and not Dr. Firdous Ashiq said that Shaheed Benazir Bhutto vision and allow any one to challenge the writ of the government.- Online mission is being followed to empower the poor and destitute especially the women. "Our great leader had linked the prosperity of Continued from page 8 No #3 stability-obsessed leaders step up efforts to calm growing con- the country with the empowerment of women," she said and added that the role of the women is vital and necessary for the sumer anxiety about rising costs. "The choice of Christmas Day is a little surprising but I think the development of the country. The Minister said that Islamic Bank market generally expected interest rates to rise," Ken Peng, a will provide financial assistance to the rural women who are working in the fields with the men adding that agro loans will be Beijing-based economist for Citigroup, told foreign media. "The central bank needed to do this to win credibility to fight provided to them and the process is underway to reach an agreeinflation." Ever fearful of inflation's potential to spark unrest, ment with Islamic Bank. Speaking on the occasion, Federal authorities have been pulling on a number of policy levers to rein Minister for Water and Power, Raja Pervaiz Ashraf paid rich in consumer prices and cool the red-hot real estate market. Earlier tributes to Shaheed Benazir Bhutto and said that she was the this month, the central bank ordered lenders for the sixth time this politician of international stature. -Agencies year to keep more money in reserve, effectively limiting the Continued from page 1 No #7 amount of funds they can lend. The President said that he learned his lessons of politics from Zulfikar Despite these measures, bank lending has remained stubbornly Ali Bhutto and Benazir Bhutto. high and property prices have continued to rise, frustrating firstThe President said that the PPP should only raise the slogan of Jaey Bhutto. The legacy of Bhutto would be transferred from one leader to the home buyers who feel apartment prices are out of their reach. next. Zardari said he realized that people were facing the problems of Property prices in 70 major cities recorded their third straight month-on-month rise in November, defying Beijing's attempts to price hike and unemployment. He said that the PPP government was fighting the killers of Benazir cool the red-hot market by hiking minimum downpayments and Bhutto and thousands of PPP workers, army Jawans and policemen. "We ordering banks not to provide loans for third home purchases. will fight those who killed our countrymen, stabilize democracy and give Prices were up 0.3 per cent last month from October and 7.7 per rights to everybody." cent higher than a year ago. He said nations face challenges in their history as Sri Lanka fought for The value of new loans issued by China's banks fell in 40 years to get through difficult times. November from October but was still well above forecasts as The President stressed that nobody should be allowed to impose his Beijing struggled to stem the flood of liquidity. views through the gun barrel and dictate his brand of Islam. He said that the country was facing external and internal enemies who Adding to the Beijing's headaches, the consumer price index, a key measure of inflation, topped five per cent in November for the were out to snatch rights of vulnerable sections of people. "Resources of first time in more than two years as food costs soared nearly 12 the country belong to the poor people," he said adding in the new age, per cent year-on-year. Further interest hikes had been expected after getting ownership rights, labourers and peasants should improve

PPMA wants nat’l drug authority KARACHI: Pakistan Pharmaceutical Manufacturers Association (PPMA) has called upon the government to create a national drug authority (NDA) to handle delicate issues including licensing, registration and pricing after the introduction of 18th Constitutional Amendment. The devolution of Health Ministry from federation to provinces under the 18th Amendment will create problems for the patients as well as the industry in terms of pricing, registration, quality control and licensing. This was stated by the current and former chairmen Haroon Qasim and Dr. Kaiser Waheed during an informal interaction with journalists here Tuesday. They said that PPMA is not opposing the devolution of health ministry to the provincial level under the 18th Amendment. What we are saying is that all functions of the

Ministry can go to the provinces except few things like licensing, pricing and quality control and registration which should remain with the federation till the provinces become capable of handling them, they maintained. They pointed out that federal health ministry acquired expertise in all the areas in the last 40 years and the provinces will take similar time to get expertise in the same sectors of pharma industry. They called for establishing central drug testing laboratory at the federal level and similar drug testing laboratories at provincial level. Haroon Qasim and Dr. Waheed said that all over the world, drug testing, licensing, registration and pricing are done at federal level. The examples of FDA of USA and MHR of United Kingdom can be cited in this regard, they added. PPMA leaders asked that

when departments like narcotic control, imports and exports are federal subjects why drug manufacturing cannot be a federal subject. They said that devolution would result in prices' variation between the provinces as every province will fix its own price on the request of drug manufacturers. Similarly, it will cause confusion among doctors and patients about the brand names of different drugs under one name as the manufacturers will use popular names to sell their drugs. For example, manufacturers can use the name "panadol" for the registration of two different drugs (paracetamol and gentamicin) in two different provinces. Similarly, exporters of medicines will face problems regarding licensing for import and exports in the absence of uniform quality control, the PPMA leaders maintained. -APP

their institutions and leave them in a better shape for their future generations. President Zardari urged the people to work hard by following motto of Quaid-e-Azam and help achieve goals of ending terrorism and alleviating poverty and unemployment. "We are citizens of this soil and our forefathers lived here and we have to save this land and secure future of our children." He remarked. The President said Bhutto family embraced martyrdom to leave a message and a legacy from which he drew strength to give away rights to the people. Minister for Defence Ch. Ahmed Mukhtar, Minister for Labour Khursheed Shah, Chief Minister Sindh Qaim Ali Shah, MNA Faisal Raza Abidi and a large number of PIA workers attended the public meeting.

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demand for collecting GST on services, he announced. A mammoth public meeting would be held in Garhi Khuda Bakhsh on December, 27 on the eve of 3rd anniversary of Shaheed Benazir Bhutto, he told. Murderers of Benazir Bhutto would be exposed at any cost, he underlined. -Online

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The spokesman told APP that curfew was imposed in the area after the terrorist attack , due to which the WFP halted its operation. WFP spokesman Amjad Jamal said all the staff was in the area. As soon as the situation becomes normal, they will start distribution of food among IDPs, he added. "We wanted to continue the operation. But due to imposition of the curfew in area, the WFP workers were unable to move anywhere. The authorities decided to halt it temporarily," he said while responding to a question. The spokesman also condemned the blast in Bajaur Agency, which killed scores of persons. He prayed to Allah Almighty to rest the departed souls in eternal peace and grant courage to the bereaved families to bear the irreparable loss with fortitude and equanimity. He also prayed for early recovery of the injured. -APP

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distribution centre set up by the World Food Programme (WFP) for people forced from their homes by earlier fighting between security forces and al Qaeda-linked militants. A WFP spokesman said the attack took place where people were being screened at a security checkpoint near their centre. Witnesses said the attacker first threw hand grenades at tribesmen before detonating the bomb. "First there were two small explosions and people started running for cover. But within seconds there was a major blast and there were dead bodies scattered everywhere," witness Hussain Ahmed said. "It was very terrifying." The WFP has halted distribution of food and services in Bajaur agency due to the attack. Meanwhile, President Asif Ali Zardari and Prime Minister Gilani strongly condemned the bomb blast in Bajaur Agency. They deplored the loss of precious lives in the blast and termed the act as a brutal activity of the militants who have no regard for the human and religion, added that these militant are on the run the brave people of Pakistan are united against them. They said that fight against these elements would continue till their complete elimination. President, Prime Minister directed the authorities for provision of best health facilities to the injured. -Agencies

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Meanwhile, Pakistan Electric Supply Company (PEPCO) is going to start three to five hours load-shedding from December 26 (today) in urban and rural areas across the country due to annual canals closure. Canals will remain closed till January 31, 2011 under annual de-silting programme. At present, as many as 5,000 MW power is being generated by hydel resources which will be reduced to 2,000 MW due to annual canals closure programme. However, owing to induction of three units of KAPCO and two independent power producers (IPPs) AES Pakgen and AES Lalpir will supply about 1500 MW to the national grid system. The power plants were shut down due to inundation by the recent floods. -Agencies

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RGST, therefore, the bill would not be presented in the parliament for the time being, he told. To another question he said Maulana Fazlur Rehman was with the government. Maulana Fazlur Rehman would be persuaded and he would rejoin the government, he added. He ruled out possibility of in house change adding those talking of in house change would have to wait for their turn. Any desire for in house change can not be curbed, he added. He said he had not lodged FIR against Shehar Yar Mehr, MPA from PML-Q. The matter related to attack on director IBI Sukkur and occupation of plot. IBI director was injured therefore, FIR was registered against Mehr. "I am not concerned with this matter", he remarked. -Online

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nobody could block the path of revolution in Pakistan. 'Conspiracies were hatched in past against the people speaking Urdu and Sindhi languages, however, today's gathering will drive the last nail into the coffin of these plotters,' Muttahida founder stressed. 'Today's convention proves that Sindh was in the foremost position in the making of Pakistan,' he added. He also urged the party to seriously decide about staying with the coalition government. Altaf Hussain asked his supporters to guide the party leadership in deciding whether it should quit government coalition or not. Addressing the gathering Altaf Hussain said that feudal system is damaging country's roots and the nation should get rid of such a system. He said the MQM is taking forward the mission of the Quaid-i-Azam and Sufi saints adding that no one can stop French-like revolution in the country. Hussain said that the MQM has always considered the benefit of the people and it has opposed Reformed General Sales Tax (RGST) on every forum because it is against the interest of the common man. The MQM chief also said that the United States (US) should release Aafia Siddiqui and send her back to Pakistan and the government should make serious efforts for her release.

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at Garhi Khuda Bakhsh Bhutto on December 27. Addressing a press conference at Larkana Press Club on Friday evening Ayaz Soomro said that on December 27, 2010 Quran Khawani will also be held for the departed soul of Shaheed Benazir Bhutto, at Garhi Khuda Bakhsh Bhutto. He said Mushaira will also be held at Garhi Khuda Bakhsh Bhutto in which noted poets from across the country will pay homage to the great leader through their poetry. Ayaz Soomro said the supporters, workers and leaders of Pakistan Peoples Party from every nook and corner of the country will participate zealously in the death anniversary programmes to be held at Garhi Khuda Bakhsh Bhutto, therefore special arrangements for them have also been made. He said a big public meeting on the occasion will be held at President House Naudero on Monday afternoon. All the provincial presidents of the party and central leaders will also address the public meeting. He said the death anniversary programmes will culminate at President House Naudero with the showing of documentaries of Mohtarma Shaheed to the participants in the evening. On the occasion District Coordination Officer (DCO) Larkana Abdul Aleem Lashari and District Police Officer (DPO) Larkana Irfan Balouch told media men that special security and traffic arrangement will be made on the occasion. They said more than six thousand police personnel, including five hundred special police commandos and three hundred personnel of Shahbaz Rangers will also be deployed to ensure law and order on the occasion. The DPO said that senior rank officers will supervise and monitor the activities in Garhi Khuda Bakhsh and Naudero vicinities. An aerial surveillance over the areas surrounding Naudero and Garhi Khuda Bakhsh Bhutto will be carried out to monitor the activities, besides 45 CCTV cameras will be installed at different locations of President House Naudero, Garhi Khuda Bakhsh and the place surrounding the "Jalsa gah" (venue of public meeting) and the parking areas. On the occasion, Bomb Disposal Squad, bomb detectors, scanners, jammers, sniffer dogs, 25 walk- through gates with police vehicles and mobile will be operational for security purpose. All activities will be monitored by the high officials of Sindh Police and concerned officials. DCO Abdul Aleem Lashari said various medical and other welcome camps would be established and 60 fire fighting vehicles will be deployed at the various locations. He added that medical team equipped with mobile hospitals and ambulance services will serve the public. Sindh Minister for Women Development Department (WDD), MPAs Haji Munawwar Ali Abbasi and Ghulam Mujadid Isran, Senior Vice President PPP Larkana district Dr. Shafqat Hussain Soomro, Khair Muhammad Shaikh, Abdul Fateh Bhutto, Nasibaan Channa, office bearers of PPP, leaders of sister organisations of PPP were present on the occasion.

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Zarai Taraqiati Bank relevant branch will be bound to provide loans to farmers in three days. Mobile credit officers of the bank will receive applications from farmers on every Monday. In case of any complaint regarding delay in process, farmers can lodge a complaint to District Coordination Officer, Executive officer (Revenue), Zonal Chief Zarai Taraqiati Bank Ltd or District office Agriculture. Punjab Government agriculture department has also established tool- free help line 0800-15000, 0800-29000 for information purpose. -APP

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The meeting will review the obtaining political conditions in the Country and other Party matters. On the occasion rich tribute would be paid to the great leader and Slain Chairperson of PPP Shaheed Mohtarma Benazir Bhutto in the meeting.-Agencies

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country to highlight the services of the Quaid-e-Azam for the nation and renewing the pledge to follow Quaid's guiding principle of "Unity, Faith and Discipline." In Lahore, Nazaria-e-Pakistan Trust organised a special ceremony at Alhamra Hall with the collaboration of Tehreek-e-Pakistan Workers Trust. Punjab Chief Minister Shahbaz Sharif presided while among others AJK President Zulqernain Khan, SM Zafar. Bushra Rehman, Ajmal Niazi, and Nasira Javed Iqbal also addressed the ceremony.


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Sunday, December 26, 2010

Kabul raid kills 2 after US embassy threat

ISLAMABAD: Chief Justice of Pakistan Justice Iftikhar Muhammad Chaudhry presides over 33rd meeting of the Board of Governors of the Federal Judicial Academy at the FJA. Federal Minister for Law, Justice and parliamentary Affairs is also seen in the picture.-APP

Reconciliation leads to Gaza rebuilding, says Abbas BETHLEHEM: Palestinian National Authority (PNA) President Mahmoud Abbas said Saturday the PNA would be ready to rebuild the Gaza Strip when the Hamas movement signs an Egyptian plan for Palestinian reconciliation. He added the reconciliation would produce an independent government to deal with the international community to help rebuild Gaza. "They are there and we are here, nobody can chuck the other," Abbas said, referring to Gaza's Hamas rulers and his Fatah party that holds sway in the West Bank. See # 5 Page 7

Agri-loans for women RAWALPINDI: Federal Minister for Women Development, Dr Firdous Ashiq Awan said that women will be provided short terms agricultural loans to strengthen them economically and bring a positive change in the society. Women are 52 per cent of total population and the platform of the Organization of Islamic Conference (OIC) will be utilized for seeking financial assistance of the Islamic Bank See # 6 Page 7

33rd Federal Judicial Academy BoG meeting held

CJP advocates rule on law in govt’s affairs ISLAMABAD: Chief Justice of Pakistan Justice Iftikhar Muhammad Chaudhry said knowledge was central and essential to development and to gain knowledge from anywhere, from any source, for the improvement of the judicial and legal education standard in the country, is not a bad thing. He was addressing 33rd meeting of the Board of Governors of the Federal Judicial Academy (FJA) held here Saturday under his chairmanship. A number of items on the Agenda pertaining to administration, budget and finance, capacity building of the Judicial Officers, extension and enhancement of the Federal Judicial Academy as "Center of Excellence" were discussed in detail by the members of the FJA BoG in three hours long meeting. At the outset of the meeting Chief Justice of Pakistan said that since each and every item

on the agenda of the meeting was important for the achievement of long avowed goals; therefore, we must have to make decent work agenda a reality with our collective and coordinated efforts. He said that some visible progress has to be made to convert this Federal Judicial Academy into a 'Center of Excellence" which in the long run may turn to be a degree awarding institute in the country. A multitude number of proposals came under discussion regarding this item of the agenda and all the Members of the FJA BoG including two Judges of the Supreme Court and Federal Secretary Finance and Registrar, Supreme Court of Pakistan, also gave their intellectual input. Chief Justice said that projects can not be undertaken without requisite funding; however, timely releasing of required funding was also essential for that purpose.

A committee comprising all the four provincial Chief Justices was also constituted to examine various aspects of this matter under deliberation. Regarding Service Rules for the FJA staff, one of the items on the Agenda, the Chief Justice of Pakistan emphasised that pragmatic efforts should be made to finalise the Service Rules of the Academy. Finally, the meeting approved all the items on the Agenda and few items on the agenda were assigned to the relevant committees for exhaustive intellectual exercise. The meeting ended on a note of thanks from the Chief justice of Pakistan to all members and others who were invited on special invitation. On the spur of the moment DG of the Academy also tanked the Chief Justice of Pakistan and all others who attended the meeting and devoted their precious time for the meeting. -Online

KABUL: Afghan and foreign troops killed two men during a raid in downtown Kabul after receiving a "credible threat" to attack the US Embassy in the capital, the Nato-led International Security Assistance Force (Isaf) said on Saturday. Isaf confirmed Friday's operation after Afghan security officials had said foreign troops were involved in a night raid that targeted a compound belonging to a private security firm. The raid came after Afghanistan's National Directorate of Security said this week it had separately detained three people it said had been instructed by the Pakistani Taliban to attack the presidential palace and US embassy in Kabul. See # 1 Page 7

Shahbaz Oks projects for southern Punjab LAHORE: Punjab Chief Minister Muhammad Shahbaz Sharif presiding over a meeting of Divisional Commissioners here on Friday, approved development projects worth billion of rupees for Southern Punjab and other cities of the province. These projects are included education, health, infrastructure, sewerage and other basic facilities to the masses. Senior Advisor to the CM Sardar Zulfiqar Ali Khan Khosa, Provincial Law Minister Rana Sanaullah Khan, Member National Assembly Hamza Shahbaz Sharif, Chief Secretary, Chairman Planning and Development, Secretaries of Finance, Health, Communication and Works, Higher Education and senior officers were present on the occasion. Addressing the meeting, the Chief Minister said that all out resources are being utilized for rapid progress of the province and special attention is being paid to provision of basic amenities to the masses. The Chief Minister added that funds See # 4 Page 7

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‘Present leaders looting the country’

Jinnah wanted Islamic Pak: Dr Khan RAWALPINDI: Father of the nation, Quaid-e-Azam Muhammad Ali Jinnah wanted to make Pakistan an Islamic welfare state while his golden principles, faith, unity and discipline are beacon of light for the new generation. These views were expressed by renowned nuclear scientist and architect of Pakistan nuclear programme, Dr Abdul Qadeer Khan while addressing the concluding session of threeday celebrations organised to mark birth anniversary of Quaid-e-Azam at Ghulam Qadir Hall, Faiz-ul Islam Complex here on Saturday. Eminent scientist Dr Abdul Qadir paying homage to founder of Pakistan Quaid-eAzam Muhammad Ali Jinnah

said that Quaid-e-Azam created Pakistan with honesty and sincerity but unfortunately the present leaders are looting the country with different tactics. He further said that the present leaders are not realising their responsibilities and unaware from their duties to make the country as Quaid-eAzam had envisioned. The present leaders have left the Quaid-e-Azam's vision and have submerged the country. He said that if we got sincere leader like Quaid-e-Azam then the fate of the country could be changed. He said that China was created after Pakistan but their leaders put the country on way of progress. He said that our leaders should learn lesson from China. -Agencies

Sharif criticizes govt’s policies Says it only making good Baloch rebels MURREE: PML-N Quaid Mian Nawaz Sharif has condemned arresting and manhandling of slain Baloch leader Nawab Akbar Bugti's grandson Nawabzada Shahzain Bugti and urged not to make good Baloch rebel. Talking to media in Murree on Saturday, Nawaz Sharif pointed out that the PML-N did not like the present agenda of the government, adding that

they quitted the government due to its policies and agenda. He made it clear that the PML-N quitting the government was not result of differences among ministers or personal differences. Nawaz Sharif noted that baseless cases were registered against him but the court declared him as innocent and the government was continuing See # 2 Page 7

China interest rates up again BEIJING: China's central bank on Saturday raised interest rates for the second time in three months as authorities' ramp up efforts to curb borrowing, rein in property prices and tame inflation. The People's Bank of China said in a brief one-line statement that it will raise the oneyear lending and deposit rates by 25 basis points each. The move takes the rates to 5.81

percent and 2.75 percent respectively from Sunday. In October, policymakers raised rates for the first time in nearly three years as they resort to stronger measures to try to slow a flood of liquidity which has been fanning inflation and driving up property prices. Analysts said the latest interest rate hike would be followed by more next year as See # 3 Page 7

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The Financial Daily-Epaper-26-12-2010