Page 1

International Karachi, Sunday, November 28, 2010, Zil Hajj 21, Price Rs12 Pages 8

Sharif demands remedy to heal Baloch wounds

Fireworks bring curtain down on Asian Games Iran switches on first nuclear power plan

See on Page 8

Twin blasts kill a dozen in Afghanistan

See on Page 8

See on Page 8

See on Page 8 Economic Indicators $16.85bn 14.17% $7.17bn $12.25bn $(5.08)bn $(533)mn $3.50bn $569mn Rs 411bn $58.41bn Rs 4863bn $203.80mn -3.85% 4.10% $1,051 171.15mn

Forex Reserves (19-Nov-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- Oct 10) Remittances (Jul 10-Nov 10) Foreign Invest (Jul 10-Oct 10) Revenue (Jul 10-Oct 10) Foreign Debt (Sep 10) Domestic Debt (Aug 10) Repatriated Profit (Jul- Oct 10) LSM Growth (Aug 10)

GDP Growth FY10E Per Capita Income FY10 Population

Portfolio Investment SCRA(U.S $ in million)

161.20 Yearly(Jul, 2010 up to 26-Nov-2010) Monthly(Nov, 2010 up to 26-Nov-2010) 56.48 -3.24 Daily (26-Nov-2010) 3796 Total Portfolio Invest (19 Nov-2010)

NCCPL (U.S $ in million)

FIPI (26-Nov-2010) Local Companies (26-Nov-2010) Banks / DFI (26-Nov-2010) Mutual Funds (26-Nov-2010) NBFC (26-Nov-2010) Local Investors (2-Nov-2010) Other Organization (26-Nov-2010)

-0.41 0.60 -0.48 -0.02 -0.20 -0.10 0.60

Global Indices Index

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Change

KSE 100

11,145.02

9.68

Nikkei 225

10,039.56

40.20

Hang Seng

22,877.25

177.43

Sensex 30

19,136.61

181.55

SSE COMP.

2,871.70

26.56

FTSE 100

5,668.70

30.23

Dow Jones

11,092.00

95.28

GDR update Symbols MCB (1 GDR= 2 Shares) OGDC (1 GDR= 10 Shares) UBL (1 GDR= 4 Shares) LUCK (1 GDR= 4 Shares) HUBC (1 GDR= 25 Shares)

$.Price PKR/Shares 2.60 111.36 20.90 179.03 2.00 42.83 1.70 36.41 10.57 36.22

Money Market Update T-Bills (3 Mths) T-Bills (6 Mths) T-Bills (12 Mths) Discount Rate Kibor (1 Mth) Kibor (3 Mths) Kibor (6 Mths) Kibor ( 9 Mths) Kibor (1Yr) P.I.B ( 3 Yrs) P.I.B (5 Yrs) P.I.B (10 Yrs) P.I.B (15 Yrs) P.I.B (20 Yrs) P.I.B (30 Yrs)

15-Nov-2010 15-Nov-2010 15-Nov-2010 29-Sep-2010 27-Nov-2010 27-Nov-2010 27-Nov-2010 27-Nov-2010 27-Nov-2010 27-Nov-2010 27-Nov-2010 27-Nov-2010 27-Nov-2010 27-Nov-2010 27-Nov-2010

12.86% 13.20% 13.30% 13.50% 12.93% 13.10% 13.36% 13.70% 13.79% 13.69% 13.75% 13.84% 14.23% 14.34% 14.51%

Commodities Crude Oil (brent)$/bbl 85.58 Crude Oil (WTI)$/bbl 83.76 Cotton $/lb 111.76 Gold $/ozs 1,364.30 Silver $/ozs 26.77 Malaysian Palm $ 1,045 GOLD (NCEL) PKR 37,706 KHI Cotton 40Kg PKR 9,109

Open Mkt Currency Rates Symbols

Buy (Rs)

Australian $ 82.20 Canadian $ 83.40 Danish Krone 14.40 Euro 113.90 Hong Kong $ 10.90 Japanese Yen 1.003 Saudi Riyal 22.50 Singapore $ 65.55 Swedish Korona 12.55 Swiss Franc 86.85 U.A.E Dirham 22.95 UK Pound 133.90 US $ 85.40

Sell (Rs)

82.30 83.50 14.90 114.90 11.00 1.029 22.60 65.65 12.65 86.95 23.40 134.90 85.60

Inter-Bank Currency Rates Symbols

Australian $ Canadian $ Danish Krone Euro Hong Kong $ Japanese Yen Saudi Riyal Singapore $ Swedish Korona Swiss Franc U.A.E Dirham UK Pound US $

Buying TT Clean

Selling TT & OD

83.25 84.49 15.27 113.86 11.00 1.016 22.77 65.07 12.26 85.47 23.25 134.54 85.66

83.45 84.69 15.31 114.13 11.03 1.019 22.82 65.23 12.29 85.67 23.30 134.85 85.85

Weather Forecast CITIES

ISLAMABAD KARACHI LAHORE FAISALABAD QUETTA RAWALPINDI

MAX-TEMP

26°C 31°C 27°C 28°C 16°C 27°C

MIN

6°C 15°C 11°C 8°C -2°C 9°C

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LOCAL GOVT, ZAKAT-USHR, POPULATION, SPECIAL & YOUTH AFFAIRS TO BE TRANSFERRED TO PROVINCES BY DEC 1

Fate of five federal ministries finalised Special Correspondent ISLAMABAD: The committee formed to implement the 18th amendment by the Constitutional Reforms Committee (CRC) on Saturday approved the transferring of five federal ministries to the provinces by Dec 1. Senator Raza Rabbani chaired the meeting in Islamabad to decide the fate of five federal ministries that were to be transferred to the provinces. According to the news, a number of ministries

have to be transferred to the provinces before the end of June 2011. At present, five ministries are being handed over to the provinces. The process however, is fraught by problems. Provinces have been complaining that they are facing financial constraints and that they are not in a position to bear the burden of accommodating the employees working in each of the ministries in addition to other costs. The ministries to be transferred include the Ministry for Local Government and Rural

Development, Ministry of Youth Affairs, Ministry of Zakat and Ushr, Ministry for Population Welfare and Ministry for Special Affairs. The committee has sent its proposals to the cabinet and a special cabinet meeting will be held on November 30 to give final approval for the transfer of the ministries. The 3,918 employees of these five ministries would be sent to surplus pool on the basis of nonacceptance and if any employee wishes to go to the province than the center would facilitate him.

On the other hand Establishment Division has issued notification that federal govt before advertising for new posts should seek NOC so that the surplus employees could be accommodated first. The move is in line with the devolution plan under the 18th amendment whereby the government has to transfer 10 federal ministries to the provinces by the end of this year. Under the plan announced by Finance Minister Dr Abdul Hafeez Shaikh, five ministries each will be devolved in November and December. -Agencies

Prime Minister inaugurates Liver Transplantation Centre at Shaikh Zayed Hospital

Gilani says hats off to Pakistan Army Says Parliament would also endorse RGST, Finance Bill 2010 LAHORE: Prime Minister Syed Yousuf Raza Gilani hailing the role of Pakistan Army in fortifying democracy in country said this is the first time in Pakistan's history that Army had supported democracy, adding 10 ministries would soon be handed over to the province under the 18th amendment. Talking to the media persons here at Shaikh Zayed Hospital after inaugurating 'Liver Transplantation Centre',

Zardari reaches Colombo COLOMBO: President Asif Ali Zardari arrived here Saturday on a four-day state visit to discuss with his counterpart Mahinda Rajapakse cooperation on security and trade issues. President Zardari is the first head of state to visit Sri Lanka after President Rajapakse assumed office for a second six-year term on November 19. The President was received at the Bandranaike Airport by the Sri Lankan President and members of his cabinet. As the Pakistani and Sri Lankan flags fluttered in the background, the national anthems of the two countries were played. A contingent of the Sri Lankan armed forces presented a salute to the President as here viewed the guard of honour. Two children attired in traditional dress presented bouquets to the President as he alighted from his aircraft. A red carpet was rolled out for him, while huge banners and buntings adorned the entire route from the airport to the hotel. Foreign Minister Shah Mehmood Qureshi, Defence Minister Chaudhry Ahmed Mukhtar, See # 5 Page 7

Lahore, Prime Minster said that this is very first time in the history of Pakistan that Pak Army supported the democratic progress while he added, "I don't have any objection over the meeting between Chief Minister, Punjab Shahbaz Sharif and Chief of Army Staff (COAS) Gen Ashfaq Pervez Kayani and there is no need to be worried". Prime Minister said National Assembly, like Senate would also

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani addressing the gathering at the inauguration of Liver Transplantation Centre at Shaikh Zayed Hospital here Saturday. -APP adopt the Reformed General Sales Tax (RGST) Bill and asserted parliament was his strength. "The opposition has every right to criticise and the government will entertain diverse opinions on the RGST with positive intent. He said that Parliament is his strength adding that under the 18th Amendment 10 Ministries will be abolished and transferred to the Provinces including Health Ministry, he maintained. Gilani further said that present government did not believe on poli-

tics of reprisal, adding that it is matter of great pleasure for him that there is no political prisoner in the tenure of his government. 'We welcome criticism of opposition but it should also play its positive role', he said. The PM advised the opposition to guide the government with its positive suggestions. Regarding comments by the leader of the Opposition in the National Assembly Chaudhry Nisar Ali Khan on RGST, Gilani said, "We have great respect for the leader of the Opposition, but if we expect the

Extremists want to pitch Pak-India against each other

RGST Bill

RGST to expand tax base: Malik

NA body meets on Dec 1st

ISLAMABAD: Interior Minister Rehman Malik appreciating the efforts of the Federal Finance Minister Abdul Hafeez Shaikh said that the RGST will increase the tax base. Talking to a private news channel he also congratulated the entire nation and especially the Finance Ministry on the approval of the recommendations of the Standing Committee on Finance. To a question regarding the

approval of the recommendations of Standing Committee on Finance by the Senate, has said that the patriotic Pakistanis know that we are at war. He said that on one hand we say that we are at war, and on the other we refuse to pay taxes. Meanwhile talking to media after attending high official meeting regarding elimination of corruption at FIA Headquarter, Interior Minister Rehman Malik said Pak-India See # 2 Page 7

Govt puts stop to 484 schemes ISLAMABAD: Federal government has dispensed with 484 development projects valuing over Rs550 billion in the wake of economic crisis. Planning Commission (PC) has reprioritised all the development projects of the current fiscal year to generate additional funds for rehabilitation and reconstruction of flood ravaged areas.

Under the new preferential strategy as many as 484 development projects have been declared unnecessary and done away with. These include several politically motivated projects. Earlier these projects were numbering 1905 worth Rs 3057 billion but now these have been curtailed to 1421 valuing Rs2509 billion. See # 3 Page 7

ISLAMABAD: Chairperson National Assembly Standing Committee on Finance, Fauzia Wahab has summoned the committee's meeting on 1st December at Parliament House for approval of Reformed General Sales Tax (RGST) and Finance Amendment bills 2010. According to sources of National Assembly Secretariat, Chairperson Standing Committee for Finance, Fauzia Wahab has summoned meeting of the committee on 1st December to approve RGST. The meeting would continue for three days. On first day of the meeting (Wednesday) public hearing would be held on RGST bill 2010 and people from all walks of life would give their views to the committee over the bill. While on Dec 2 and 3 the bills would be approved after review. The 17-member committee comprises of 6 members of PPP, 4 of PML-N, 3 of PMLQ and one each from ANP, JUIF and Fata members. The government needs support of 9 members for approval of the bills and treasury members are 6 including the See # 4 Page 7

world to help us with the money of their taxpayers, the world also expects us to pay taxes and generate revenue for the rehabilitation of our people." Prime Minister said that the government was in the process of reprioritising the Public Sector Development Program (PSDP) in the aftermath of recent unprecedented floods in the country, adding that maximum resources would be awarded to the provinces under the NFC Award. See # 1 Page 7

WikiLeaks to put Pak secret papers online WASHINGTON: The WikiLeaks is expected to post secret documents about Pakistan on its website by the weekend, sources said. Sources said the documents would be available online on its website within 2 or 3 days which may be 94 in number. The to-be-revealed 94 secret papers mainly contain telegrams sent by the US Embassy in Islamabad to the State Department in Washington. Some of these papers relate to US observations about Pakistan's policy towards Afghanistan, the debate within Pakistan on the war against terrorism, Islamabad's cooperation with Washington and other military and intelligence matters. Some documents also contain US reservations about Pakistan's nuclear programme. The sources said that changes in the US communication system allowed an anti-war activist access to more than 400,000 secret documents, who handed

them over to the website. US officials have warned that Afghanistan, China, Russia, Central Asian Republics, Canada, Britain, France, Turkey and Nato will all be affected by this unprecedented leak. The New York Times and The Washington Post are expected to publish some details from the leaked papers on Sunday (today). Meanwhile, United States has briefed its allies Britain, Australia, Canada, Denmark and Norway ahead of the expected new release of classified US documents, WikiLeaks said on Thursday, citing local press reports.The whistle-blowing website said by Twitter that American diplomats briefed government officials in the five nations in advance of the release expected in the next few days. The next release is expected to include thousands of diplomatic cables reporting corruption allegations against politicians in Russia, Afghanistan and other Central Asian nations.-Reuters

Pak ready to showcase SOEs at London bourse ISLAMABAD: The London Stock Exchange (LSE) moot on "Pakistan Capital Market Forum" will showcase Pakistan Petroleum Limited (PPL), Pakistan State Oil (PSO), Oil & Gas Development Company Limited (OGDCL), Sui Northern Gas Pipeline Limited (SNGPL), Sui Southern Gas Company (SSGC) and Pakistan Mineral Development Corporation (PMDC).

London Stock Exchange (LSE) is organising the Forum in conjunction with Nomura Dubai at LSE Headquarters on December 10, 2010. Earlier, it was scheduled for November 19, 2010, which was rescheduled to facilitate the companies for necessary preparation due to Eid holidays. London Stock Exchange has invited Senator Waqar Ahmed Khan Federal Minister for

Privatisation to deliver his keynote address at Pakistan Capital Markets & Privatisation Forum. The PC is endeavoring to turnaround the SoEs and to reduce the budget deficit. Senator Waqar Ahmed Khan Federal Minister for Privatisation will lead a highlevel delegation comprising on top management of Pakistani companies to open the moot and to deliver

keynote address while 50 top market leaders of international business and investment groups have also confirmed their participation. The Senate Standing Committee on Privatisation (SSCOP) has already given unanimous support to the Privatisation Commission (PC) for its equity-linked activity (Convertible Bonds) in the global market to turnaround the State Owned Entities

(SoEs) while PC Board had also given go ahead in this regard. The proposal was recently presented at the highest level before the President and the Prime Minister on November 22, 2010. The event will showcase the opportunities available to international investors in the Pakistan economy and is designed to both showcase a number of Pakistan based listed and public companies and

connect them with a wide range of senior representatives from the international buy-side investor and corporate advisor communities. This event will further strengthen these economic links and also bring direct benefits to the companies presenting and the wider economy of Pakistan and it will bring closer the leading business and investment groups to explore the areas of interest.-NNI


2 Pak’s name hoisted in space KARACHI: American NASA Astronaut hoisted 'Make A Wish Flag' at NASA Space Station in with name of Pakistan on it, said a handout issued here on Saturday. On the recent mission to the space Michael T Good who is also an active member of Make A Wish Foundation America carried the flag of Make A Wish International to millions of miles away in his Shuttle Discovery and hoisted it at the space station. The flag carried the name of 40 affiliate member countries. The name of Pakistan is also written on the flag. By doing so it is the first time that an Astronaut carried a flag of an American NGO and now their flag is flying in the space. Pakistan has the honour that its name is in the space.-PR

Athenicity not to be tolerated in Karachi: Asfandyar KARACHI: The Awami National Party (ANP) chief Asfandyar Wali Khan described on Saturday the Karachi as metropolitan lived by the people of all languages and said ANP was ready to talk with MQM on the issue. Talking to reporters along with Chief Minister Khaiber Pakhtunkhwa Ameer Haider Hoti here during his visit he termed negotiation between ANP and MQM as mandatory to restore peace in Karachi. He denied the possibility of drone attacks in Balochistan as the situation here is quite different from that of KP.-APP

TV PROGRAMMES

Sunday, November 28, 2010

KESC launches social anti-theft programme Staff Reporter KARACHI: The Karachi Electric Supply Company launched "KESCCommunity Anti Theft Social Development Partnership" programme at Korangi Sector No 10 where applications for new connections were received from the local residents who had so far been using electricity through "kunda". A 'New Connection Mobile Service' office for receiving more applications has been stationed in the area till all the aspiring applicants deposit their papers for new connections. Member National Assembly Asif Hasnain was the chief guest at the event, which attracted very positive response from this recently developed Sector, called Baghe-Millat, comprising

around 40,000 to 50,000 residents. In the absence of regular supply of electricity, about all the 2,500 households had been using power through kundas. Hasnain, Ayub Shoaib MNA, and Amir Moeen Pirzada, Khalid Iftikhar and Haleemur Rehman MPAs motivated the residents and to apply for legal connections. Under the "KESCCommunity Anti Theft Social Development Partnership" programme, organized by the KESC's Corporate Social Responsibility Department, the utility has started to create a willingness among the illegal users of electricity in the low income group areas to get their power supply regularised through legal connections. Salient features of this scheme are: provision of new connec-

KARACHI: Dr Mirza Ikhtiar Baig, Director World Federation of Consuls with other participating Consuls of the World at the 2nd East Asia Regional Conference.-Staff Photo

KARACHI: Representatives of Turbo Institute from slovenia and Tuwairqi Steels Mills signing at MoU of joint venture project at Sindh Board of Investment. -APP

KARACHI: Member National Assembly Asif Hasnain, Chief Marketing and Communications Officer of KESC, Ghufran Atta Khan and KESC's DCOO Region 3, Amer Zia, are inaugurating "KESC-Community Anti Theft Social Development Partnership" programme.-Staff Photo

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

KARACHI: The three-day 1,280th Urs of Abdullah Shah Ghazi began here on Saturday. Urs was inaugurated by the Sindh Governor, Dr.Ishrat ul Ebad Khan. The Provincial Minister for Aquaf, Abdul Haseeb, was also present on the occasion. The Governor laid a floral wreath at the mazar and also offered `Fateha'. The Governor Sindh also talked to the `Zaireen' and distributed clothes among the `Mustahqueen'. On the occasion, he also visited various areas of the Mazar premises. Dr Ishrat was briefed about the arrangements at the Mazar and facilities for the Zaireen as well as the security measures that have been taken for the Urs. He said that Sindh is the land of the Sufis who gave the message of peace, love and brotherhood. By following their teachings we can help contribute towards the progress and prosperity of Pakistan.-APP

CDGK forms special cell for Muharram

SUNDAY Time Programmes 7:00 News 8:00 News 9:05 Best of Subah Savere 11:10 Mohaaz (F) 12:00 News 13:10 Newsbeat (Rpt) 14:10 Awam Ki Awaz 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 23:05 Naram Garam

tion at a 50 per cent discount price, Rs6,000 instead of Rs12,000 at present, to be received in seven installments, 40 per cent with application and remaining amount in six equal parts with the upcoming current bills. While granting new connection to such consumers, no outstanding dues will be charged to them for the past illegal use of power. At the same time, the connections will be provided on fast track basis. Finally, 10 per cent of the total revenue coming from such a locality will be spent back on the general civic development of the same area. The plan envisages encouraging the illegal users of electricity to get converted their supply into legal connections, in order to eliminate the curse of power theft from the society.

Urs of Abdullah Shah Ghazi commences

KARACHI: Pakistan Food Association recently organised executive tea series meeting on the "Prospects for Food Industry in These Challenging Times". Rossalis R Adenan, Consul General of the Republic of Indonesia presenting memento to the guest speaker Miftah Ismail, Chief Executive Officer / Director, Ismail Industries. Also seen in the picture are Rafiq Rangoonwala, President, PFA, Farukh Mazhar, Razi Ahsan, Umar Qasim, Naveed Khawaja and Iqbal Shekhani.-Staff Photo

KARACHI: Ishtiaq Baig President Make A Wish Pakistan with NASA Astronaut Michael T Good Who hoisted Make A Wish Int’l Flag at NASA Station in Space. President Make A Wish Int’l Jon Stetter is also seen in the picture.-Staff Photo

KARACHI: A special cell has been set up at the city government level for arrangements of Muharram-ul-Haram. The cell will remain in operation till two months and 10 days. EDO Municipal Services Masood Alam has been appointed focal person in this regard by city government. One track of Banaras Chowk Flyover will be opened for vehicular traffic in 10 days while the new road in Mahmoodabad will also be available for traffic within a week. Meetings to review arrangements for Muharramul-Haram will also held on town's level in next two days to review the problems of "azadars" and finalisation of arrangements for Muharram-ul-Haram. This was decided in a high level meeting chaired by provincial minister for Information Technology Raza Haroon that held in the lawn of Civic Center on Saturday. Provincial Minister Abdul Haseeb, EDO Municipal Services Masood Alam, representatives of police, rangers, city government, town's administrators and ulema-karam attended the meeting.-PPI

Redressal plan to cater left over victims: Sharmila KARACHI: Advisor to Chief Minister Sindh for Information and Archives Sharmila Farooqui said on Saturday that the Sindh government has started a "Redressal Programme" in association with the National Database and Registration Authority (NADRA) to inquire about the eligibility of those flood victims who have still not got Watan Cards. This was stated by Sharmila Farooqui at a press briefing at the New Sindh Secretariat Building Karachi. Sharmila said that those flood affected people, who have still not received Watan Cards, should approach their relevant District Coordination Officer (DCO) who will forward their cases to the NADRA officials for verification. Those who are found eligible in verification will be provided Watan Cards, she assured. The advisor said NADRA has yet received 22,000 cases of flood affectees under the Redressal Programme form which more than 3000 cases have been declared eligible and they are receiving the Watan cards as per process. Sharmila Farooqui said about 7.2 million people were affected due to recent heavy floods in the whole province and according to survey, 1.7 million families are able to receive Watan Cards. She said that so far 435,975 family heads and widows have received Watan Cards, out of which 474,274 cases were verified. She said that we have initiated the redressal Programme in order to verify those flood victims who have not got the Watan Cards yet.-APP

KARACHI: Sindh Governor, Dr Ishrat-ul-Ebad Khan offers Dua (pray) at the Grave of Hazrat Abdullah Shah Ghazi (RA) during inauguration ceremony of his Twelve Hundred and Eightieth Urs celebrations held at his Mausolem in Karachi on Saturday. -PPI

CPLC recovers 27k cellphones in ten months

Schools, offices remain open on Saturday

KARACHI: The Citizens-Police Liaison Committee (CPLC Sindh) has recovered and handed over more than 27,000 mobile phones to their owners in the first 10 months of current year. These mobile phones were recovered with the assistance of Pakistan Te l e c o m m u n i c a t i o n Authority (PTA) and Karachi Electronic Market Dealers Association, said CPLC Chief Ahmed Chinoy here on Friday. In a statement he said there are still more than 100 recovered cell phones in the custody of CPLC. Ahmed Chinoy requested the owners to collect their cell phones from CPLC Central Reporting Cell with prior intimation on given phone numbers on presentation of origi-

KARACHI: Govt schools and offices remained open on Saturday after the government decision and announcement to abolish Saturday off for offices, banks and educational institutes effective November 27. According to a notification issued by the federal and provincials government, a two weekly off had been announced in the country to end the energy crisis. However, electricity demand has automatically reduced in winter. Therefore, the government has decided to end Saturday as a day off. As per the notification, there will only be one weekly off in offices from November 27, 2010; government departments and educational institutes will remain open on Saturday.Online

nal CNIC and original Warranty Card. He advised the victims to report every incident of mobile snatching/ theft to the CPLC and encourage others to do so to discourage misuse of stolen phones which are also used in criminal activities. He claimed that it was with the help of CPLC mobile phone crime data base that Karachi police managed to catch several mobile snatchers. Ahmed Chinoy said that over 700,000 mobile phones have been blocked by PTA through mobile phone service providers since the introduction of blocking system in September, 2006. He said a written acknowledgment is obtained from the owners of the stolen or snatched cell phones approaching CPLC for their collection.-PPI


3

Sunday, November 28, 2010

Cars Prices Updated on 27 November, 2010

SYED ABUL ABBAS NAQVI

DAIHATSU CUORE CX

729,000

CUORE CX CNG

779,000

CUORE CX A/T

759,000

CUORE ECOMATIC

819,000

TOYOTA Hilux 4x2 Standard

1,459,000

Hilux 4x2 up Spec

1,499,000

Hilux 4x2 Grand Cabin

2,004,000

COROLLA 1.3L XLi

1,354,000

COROLLA 1.3L GLi

1,479,000

COROLLA 2.0D

1,439,000

COROLLA 2.0D SALOON

1,769,000

COROLLA 2.0D SALOON SR

1,859,000

1.8L ALTIS MT

1,740,000

1.8L ALTIS MT SR

1,830,000

1.8L ALTIS AT

1,830,000

1.8L ALTIS AT SR

1,920,000

CAMRY 2400cc M/T

7,799,000

CAMRY 2400cc A/T

7,999,000

HONDA CITY Manual Transmission

1,315,000

CITY Automatic Transmission

1,446,000

CIVIC i-VTEC Manual Transmission1,633,000 CIVIC i-VTEC Pros Transmission1,784,000 CIVIC VTi Oriel Manual

1,845,000

CIVIC VTi Oriel Prosmatec

1,920,000

Accord 2.4 i-VTEC

5,949,000

CR-V 2.4 Liter

5,549,000

HYUNDAI SANTRO CLUB

739,000

SANTRO CLUB GV

779,000

SANTRO EXEC

804,000

SANTRO EXEC GV

859,000

Without Deck & Sidewalls

879,000

Without Sidewalls (Flat Bed)

889,000

With Deck & Sidewalls

899,000

New phone app aims to fight skin cancer A

ustralia has one of the highest rates of skin cancer in the world, with more than 1,850 people dying of it each year -- more than the number killed in road accidents, according to Cancer Council Australia. Two in three Australians will be diagnosed with skin cancer by the age of 70. "What we're finding is that a lot of people are using temperatures and weather to predict when they need sun protection, but it's really the ultraviolet (UV) that's a problem -- and you can't see that or feel it," said Sue Heward, SunSmart Manger at Cancer Council. To deal with this, as well as

SPARK LS (Automatic)

815,000 890,000

OPTRA SE

1,479,000

OPTRA LS M/T

1,549,000

OPTRA LS A/T

1,629,000

OPTRA 1.8 CDX-MT

1,669,000

OPTRA 1.8 CDX-AT

1,759,000

AVEO LT - M/T

1,369,000

AVEO LT - A/T

1,469,000

COLORADO - MT

3,479,000

CHERY CHERY QQ 0.8L BASIC

588,000

CHERY QQ 0.8L COMFORTABLE 628,000

A

ccording to Nielsen, which conducted a survey in October to see which tech products American kids want through the beginning of next year, Apple's tablet sat at the top of a 17-item list, with 31 per cent of children between the ages of 6 and 12 saying they want to get their hands on the device. A computer and Apple's

SUZUKI RAVI VX

524,000

BOLAN VX

532,000

BOLAN VX CNG

584,000

BOLAN VXR

592,000

BOLAN VXR CNG

645,000

CARGO VAN

507,000

MEHRAN VX

453,000

MEHRAN VXR

505,000

MEHRAN VX CNG

499,000

MEHRAN VXR CNG

549,000

ALTO VXR

656,000

cent of children's interest. An e-reader was the least popular gift this year, ranking 17th, with just 11 per cent of kids saying they wanted one. Nielsen also found out what youths 13 and up are coveting. Among that group, a computer led the way with 20 per cent desiring a PC or Mac.

ALTO VXR CNG

705,000

CULTUS VXRi

850,000 891,000

SWIFT

1,058,000

LIANA 1.3L RXI MT

1,129,000

LIANA1.3L RXI MT CNG

1,199,000

APV 1.5 Petrol

1,775,000

APV 1.5 CNG

1,850,000

JIMMY JLSX MT

1,720,000

JIMMY JLDX MT

1,870,000

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

iPod

Touch tied for second, with 29 per cent of children saying they wanted those products. Nintendo's DS took the fourth spot with 25 per cent of kids eyeing the portable gaming device. Sony's PlayStation 3, any (non-iPhone) smartphone, and a mobile phone all tied for fifth place with 21 per cent of kids having interest in those products this year. The Apple iPhone, a television, and the as-yet released Nintendo 3DS rounded out the top 10, each with 20 per

adjust to the user's location, showing the times for which sun protection is needed as well as an automated UV warning and an up-to-theminute guide to UV levels. "The nice thing about the app is that it's in your pocket, you don't have to go to your computer or open up a paper to check," H e w a r d said, noting that this makes it especially handy for people who work outdoors for long periods and are especially at risk. The SunSmart app is available to download for free.

N

uance's shares had touched a 2-1/2-year high on Tuesday, after TVDeck.com posted a video showing Wozniak saying Apple bought Nuance. Both companies had declined to comment. "I thought I'd read about it but obviously got it all wrong," Wozniak said. Deutsche Bank analyst Nandan Amladi said the video appeared to be boosting Nuance's shares even as he dismissed the likelihood of such a deal. "Nuance licenses its technology to many vendors including competitors to Apple. By acquiring Nuance, its value goes down because its competitors would stop licensing Nuance," he said. On Monday, Burlington, Massachusetts-based Nuance had posted better-than-expected fourth-quarter results, helped by strong revenue at its healthcare and mobile units. After rising as high as $19.19 on Tuesday, Nuance stock later pared some gains to trade 3.5 per cent higher at $17.72. Nuance forecast 2011 revenue above expectations and earnings largely in line. Avondale Partners said the full-year outlook reflects the current trend of strong demand for the company's products, its mobile design wins and growing acceptance for its mobile technologies.

Facebook makes people more social: study he rapid spread of Facebook, which has more than 500 million users worldwide, has prompted concerns about its negative effects, but researchers at the University of Texas have

T

intimacy and community." The researchers questioned 900 college students and recent graduates about how and with whom they interact on Facebook. More than 60 per cent of

reached a different conclusion. "Our findings suggest that Facebook is not supplanting face-to-face interactions between friends, family and colleagues," said S. Craig Watkins, an associate professor of radio, TV and film who headed the research team. "In fact, we believe there is sufficient evidence that social media afford opportunities for new expressions of friendship,

Facebook users said posting status updates was among the most popular activities, followed by 60 per cent who wrote comments on their profile and 49 per cent who posted messages and comments to friends. The researchers also found that although about the same number of men and women use Facebook, they do so in different ways.

Windows Messenger can be risky

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cast, including the maximum UV levels. It has an alert function and uses global positioning systems (GPS) to automatically

Nielsen: Kids want iPad for holidays

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to reach young people who tend to be less stringent with sun protection, the council developed the free app that provides a daily weather fore-

Wozniak was wrong about Nuance

A television and a (non-iPhone) smartphone tied for the second spot with 19 per cent. Apple's iPad, a Blu-ray player, and an e-reader took the next three spots with 18 per cent, 17 per cent, and 15 per cent of teens showing interest, respectively. The Nintendo Wii ranked seventh among teens with 15 per cent saying they wanted one. It was followed by the iPhone and PlayStation 3, each with votes from 13 per cent of teens. Sony's PlayStation Portable was the least-desired tech product among teenagers, ranking 17th, with just 5 per cent of showing interest in it.

P

aul Stewart, a Liverpool-based e-mail administrator, found his new girlfriend online, and he lost her online as well. The trouble started when Stewart's Windows Live Messenger instant messaging program - the chat program given out free to all registered Windows users - sent out notices and profile updates about his other activities, conversations, and 'friends' to other people on Stewart's friends list, which included his new girlfriend. The damage, as Stewart learned too late, was due to the way Windows Live Messenger automatically shares information about a person's online activities and new contacts with other people on the person's contact list. This information sharing is in keeping with the practice of sharing a person's everexpanding circle of friends, popularized by such sites as

Facebook. But the unintended consequences of too much

information sharing can be dire, as Stewart learned.

Windows Live Messenger, which is part of the Live Essentials suite of programs available to all Windows users, shares most of a user's activityrelated information by default - a questionable practice at best. In order to change it, you have dug deep into the Privacy settings.

While Windows Live Messenger is not the only chat and social networking program that automatically shares information you may not wish revealed, it's one of the most popular, thanks to its distribution from Microsoft. So it's worthwhile to point out the steps required to control the infor-

mation that Windows Live Messenger shares about you by default. You should know that if you've used Windows Live Messenger even once, you already have a Windows Live account, which is tied to the e-mail address and password you supplied upon startup. While Live Messenger has some of the most questionable default privacy settings of the major instant messaging clients and social networks, it's by no means alone in making assumptions about the types of information that you would like to share with the world. That's why, before you find yourself in a difficult situation, it's a good idea to spend some time digging deep into the privacy settings of any instant messenger or social networking site that you use - or even ones that you've signed up for but do not use. Take the time to search for the word Privacy or Account on the screens of all of your social networking tools, including LinkedIn, Facebook, Yahoo! Messenger, Twitter, and MySpace, and see what information about you is being shared with others.

Latest Gadgets Tony Sale’s 60-year-old Robot, George The guy on the left is Tony Sale, and he is the inventor of George, the guy on the right. George is a robot that is made from the aluminum and other scraps of a crashed bomber sixty years ago. Apparently, he has spent a large per centage of that time in a storage shed.

A robot that will work for you

LED US map makes more geographic fun

The LED US map that you see here is definitely something that might just stoke your little one's interest in geography, as it relies on a bunch of colorful LEDs to highlight your travels The Anybot is a robot that throughout this great country becomes your eyes and ears, anywhere that you are not. It allows you to be a part of whatever's happening, from wherever you are. Connected via the internet with a Wi-Fi connection, the Anybot utilizes a speaker, camera, microphone and video screen in order to bring your presence to the masses

The Loop Pointer lets you lose your mouse The Loop, the freehand mouse that moves your cursor with natural motions made in the air. Simply point and click on the TV that's connected to your PC or Mac. The Loop pointer's intuitive design has a scroll wheel and four buttons

Huey the Color Copying Chameleon Lamp This is Huey the chameleon, and he is a lamp that has the power of changing colors. All a user has to do is place Huey on any surface, and he will emit a glow equal to that of the ground below him.


4 Sunday, November 28, 2010

Pro China party holds edge in Taiwan

The Financial Daily International Vol 4, Issue 110

Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi 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: 92-21-5311893-6 Fax: 92-21-5388428 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

Response of political parties on crackdowns Awami National Party (ANP) has warned the coalition government of dire consequences if crackdowns against its activists continue. Prior to the issue of politically loaded statements of ANP's Sindh leadership, law enforcing agencies had already freed nearly 100 activists rounded up on Thursday late night. This is not the first time that a political party has responded so harshly against the crackdown. Interestingly, the law enforcing agencies term such raids 'operations clean up' but political parties term it 'victimisation'. It becomes almost impossible to differentiate between political activists and hardcore criminals. Whatever maybe the fact, a few points are very clear that various groups are adamant at disrupting peace of the city. These groups are often given protection by the groups having ulterior motives. Ironically, many of the groups claim 'Karachi hamara hai'. Not because of any love for the citizens but for the lust of money, bhatta. Some 'safe havens' have been developed in areas with ethnic concentration and even the personnel of law enforcing agencies are scared of entering these sanctuaries. Many of the residents of these localities enjoy political affiliation and not only pilfer electricity, water and gas but also protection to hardcore criminals and militant groups. ANP, calling itself the custodian of rights of Pukhtoons in Karachi often term the operation against the religious extremists the assault on Pukhtoons. It has become imperative that ANP disassociate itself from the extremists groups, particularly those undertaking suicidal attacks, bomb blasts and targeted killing. Managing the affairs of Karachi has become extremely difficult because all the political parties, particularly the coalition partners have ethnic concentration in certain areas and are opposed to any operation in these areas termed their 'vote bank'. Some analysts go to the extent by saying that some of the groups are supported by foreign intelligence agencies. These groups call themselves nationalists, champions of the rights of most-deprived and also the reformists. However, they have only one objective to destabilise Pakistan. These groups also aim at initiating civil war demanding handing over Karachi to Pakistan army. These groups have ample stocks of deadly arsenals, desperate killers having the staunch belief that killing their disapproved citizens can guarantee upper hand in Karachi. It is feared that certain elements are getting ready to give yet another bloodbath to Karachi during Muharram. Last year these groups had killed dozens of people through remote controlled bomb blasts. It is the collective responsibility of Karachiites to identify the extremists and hand them over to the law enforcing agencies. Courts are also requested to ensure speedy trial and award exemplary punishment to miscreants. Attacks on CID office and city courts to free the under-trial persons is challenging the writ of government.

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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cation. "Of course China doesn't want to see any change in the status quo, particularly in the three cities that the KMT has held for a long time," said Shane Lee, political scientist at Chang Jung University in Taiwan. The KMT won second four-year terms in Taipei and Sinbei, the island's two largest cities, and in the central city of Taichung. The anti-China opposition Democratic Progressive Party (DPP) held the southern cities of Kaohsiung and Tainan. Taiwan financial markets will at least remain stable and may gain on the KMT's victories as the results herald more tie-ups Taiwan politics change fast, between export-reliant and economic meaning the 2012 presidential Taiwan powerhouse China. Investors had feared race will be decided by that a DPP win could unforeseen new issues extend to the presidenand threaten trade dominating the public agenda cy deals. China and Taiwan are due to talk that year. next year about new government. Beijing hopes those talks import tariff cuts following an ecocooperation framework will lead eventually to political unifi- nomic aiwan's China-friendly ruling party held onto most of the island's mayoral posts up for grabs in tense elections Saturday seen as a test of the party's popularity ahead of the 2012 presidential race. Wins in three of five mayoral seats gave the Nationalist Party (KMT), a clear shot at retaining the presidency, which will calm Beijing as it has worked closely with the party on landmark trade deals after decades of political hostilities. China has claimed sovereignty over self-ruled Taiwan for six decades but since 2008 has discussed economic issues with President Ma Ying-jeou's

(ECFA) signed in mid-2010. Saturday's wins also end a slump for the KMT. The party did poorly in local polls elsewhere in Taiwan last

televised speech. "There are a lot of areas where we need to review and improve." Voters cast ballots after the son of a

China has claimed sovereignty over selfruled Taiwan for six decades but since 2008 has discussed economic issues with President Ma Ying-jeou's government. Beijing hopes those talks will lead eventually to political unification. year and in by-elections earlier this year as Ma's opinion poll ratings struggled after a string of 2009 domestic flaps. However, Taiwan politics change fast, meaning the 2012 presidential race will be decided by unforeseen new issues dominating the public agenda that year. KMT leaders were low-key in their acceptance speeches. "Hau Lung-bin will go to the people and listen to their voices," the reelected Taipei mayor said of himself in a

former Taiwan vice president was shot and wounded during a ruling party campaign rally near Taipei late Friday and a bystander was killed. Media reports said a man arrested for the shooting was a member of a criminal gang and did not appear to have a political motive. Opposition ex-president Chen Shuibian won by a thin margin in 2004 after a bullet grazed him and his running mate. The KMT said that incident was staged to win sympathy votes. Reuters

Kremlin eyeing naval bases abroad P

resident Dmitry Medvedev said Russia was looking to open new naval bases abroad to increase the global reach of a military that shrunk abruptly when the Soviet Union collapsed. Soviet forces drew on over a dozen naval bases in Europe, South America, Africa and South East Asia in the 1970s and 1980s; but post-Soviet

home bases. Vladimir Putin began rebuilding military power after he assumed the Russian presidency in 2000. Last year, state news agency Itar-Tass cited military sources saying Russia had decided to establish naval bases in Libya and Yemen and expand facilities at the Syrian port of Tartus. Asked during a televised

bases, Medvedev said: "I

Russia had decided to establish naval bases in Libya and Yemen and expand facilities at the Syrian port of Tartus. would make no secret of the fact that we have certain ideas on this theme." "But I would

In 2008 Russian war ships sailed into Cuba, Venezuela and Nicaragua in what was read by many as a snub to the United States. Russia's longrange aviation has also undertaken a series of sorties along the borders of NATO states, irritating the country's Cold War era foes. economic crisis, fuel shortages and a rundown of the military confined forces largely to

meeting with senior military officers whether Russia was planning to set up new foreign

Moscow shut down its over-

not name them aloud, for obvious reasons." SYRIA

seas bases in Cuba and Vietnam in 2002, leaving just two naval footholds abroad: a major Black Sea base at Sevastopol, Ukraine, and facilities in Tartus on Syria's Mediterranean coast. In January, Russia said it would modernize its facilities in Tartus by 2011, and in April agreed to cut the price it charges Ukraine for gas by 30 per cent in exchange for a 25year extension of its lease of the Sevastopol base. Medvedev said that the final decision on new naval bases would obviously depend on

Russia's partners. "As you may realize, bases in foreign states cannot be set up by a decree of the Russian president," he said during the meeting in Nizhny Novgorod, 400 km (248 miles) north-east of Moscow. "We need to do complicated political and diplomatic work... so that (our bases) are seen by (other countries) as a reinforcement of their own image, their own security," he said. In recent years the Kremlin has revived several Cold War era practices to demonstrate the reach of its military. In 2008 Russian war ships sailed into Cuba, Venezuela and Nicaragua in what was read by many as a snub to the United States. Russia's longrange aviation has also undertaken a series of sorties along the borders of NATO states, irritating the country's Cold War era foes. Reuters

Crucial Irish rescue talks I

reland entered the final hours of negotiations for emergency EU and IMF loans on Saturday with attention focused on the interest rate its taxpayers will be forced to pay to bail out their government and their banks. Negotiators were holed up in a 250-year-old Dublin luxury hotel to finalize the deal, expected to be announced after a teleconference of EU finance ministers at 10 a.m. EST (15:00 GMT) on Sunday. Thousands of demonstrators marched through the Irish capital's streets against the deal, which European Union leaders hope will prevent the crisis from spreading to Portugal and Spain and threatening the future of the euro. The parties expected to form the next Irish government said a deal would be unacceptable if the interest rate was too high. The government denied media reports that the overall package would cost taxpayers as much as 6.7 per cent a year. Ireland has been forced to turn to the European Union and International Monetary Fund to save it from a financial crisis rooted in years of reckless bank lending that turned bad after the collapse of a property boom. Labour Party leader Eamon Gilmore described as "deeply disturbing" a report by broadcaster RTE that the rate Irish taxpayers would have to pay for an estimated 85 billion euro ($113 billion) rescue might be as high as 6.7 per cent. "If true, it would be an appalling capitulation by the Irish government. And it would

be a betrayal of the founding principles of the European Union," he told a party conference. The government's communications minister, Eamon Ryan, said the deal was not yet final and would include several loans with different maturities and interest rates, but the 6.7 percent figure was higher than Ireland would end up paying. The main opposition Fine Gael party said on Friday any rate over 6 percent would be unacceptable. CONTAGION RISK Fine Gael and Labour are expected to rout Prime Minister Brian Cowen's Fianna Fail party and take power in an election within months. They have said they would be bound by any deal Cowen reaches with the IMF but may try to renegotiate details. European officials hope the rescue will help draw a line under the debt crisis. Having started with a 110 billion euro bailout of Greece, it now threatens to engulf countries like Portugal and Spain, the fourthlargest economy in the euro zone. Labour and Fine Gael want bond investors who lent money to Irish banks to take on a bigger share of the bailout burden, rather than foisting it all on Irish taxpayers. But the downside of forcing bondholders to take

losses is the risk that it would damage confidence in other European banks and spread the crisis. Germany on Saturday denied a magazine report that it might agree to issue joint euro zone bonds to help ease the debt crisis gripping weaker economies in the 16-nation euro zone. Shares of European banks which hold the debt of Irish banks tumbled on Friday on reports that they could be forced to share in the cost. Britain's Royal Bank of Scotland and Lloyds Banking Group tumbled 5.3 and 4.4 per cent respectively, while Spain's top bank, Santander, fell 3.7 per cent. The euro stumbled to a two-

majority cut to just two seats. UNION MARCH The Irish public has stoically borne two years of recession, a relentless surge in unemployment and a programme of tax rises and spending cuts, but people say they are furious over the new measures and the decision to seek aid. Saturday's demonstration was peaceful but boisterous, with thousands braving overnight snow to come by bus to the capital. Unions called for the march to Dublin's General Post Office building, the headquarters of a nationalist uprising against British rule in 1916. The prospect of handing sovereignty

The parties expected to form the next Irish government said a deal would be unacceptable if the interest rate was too high. The government denied media reports that the overall package would cost taxpayers as much as 6.7 per cent a year. month low against the dollar, and the extra risk investors demand to hold Irish, Portuguese and Spanish debt instead of German Bunds hovered near record highs. A deal at an interest rate seen as punitively high would deal a new political blow to Cowen, already the most unpopular Irish leader in modern times and now faced with the prospect of passing a severe budget with his

to Brussels strikes a nerve in a country where political discourse is still defined by the independence struggle against Britain. "We are trying to reclaim our sovereignty before it's lost and before the IMF sell our natural resources and assets to the highest bidder," said Feilim Wakely, from County Louth, north of the capital, holding a sign that read "EIRE NOT FOR SALE."

"Health and education will suffer but nobody will burn the bondholders," said actress Deirdre Monaghan, 48. "The implications are huge. It will increase racism, resentment and fragmentation of society." Despite the latest round of cutbacks, Irish welfare benefits are still among the most generous in Europe and some analysts think Ireland has still not gone far enough in cutting back. "The public are led to believe that sharp belt tightening is going on, when we've barely begun," said Societe Generale analyst Ciaran O'Hagan in a research note. Once the Ireland rescue is sealed, investors could turn their wrath on Portugal, which passed an austere budget for 2011 on Friday but is struggling to meet deficit reduction targets. Portuguese Prime Minister Jose Socrates said late on Friday that he expected passage of the budget to boost market confidence, but a Reuters poll this week showed a majority of economists believe the country will be next in the firing line. Jean-Claude Juncker, the head of the EU's group of euro zone finance ministers, defended Portugal against suggestions that it could end up being bailed out like Ireland, saying there were no parallels between them. "Portugal has presented to its parliament a meaningful budget plan, and the financial sector shows signs of robustness," he said in an interview published on Saturday with Belgium's French-language daily L'Echo. Reuters


5

Sunday, November 28, 2010

Barbers: Cut, shave, lower your BP B

lack men with hypertension appear to benefit from regular blood pressure checks and advice from a somewhat unlikely source - their barbers. A new study finds that training barbers to check their patrons' blood pressure, offer advice and anecdotes, and even help refer the clients to a doctor if they don't have one, appears to help men get their blood pressure under control. Nationwide, barbershops are increasingly becoming a source of health information and a locus for health outreach, according to the authors led by Dr. Ronald G. Victor, associate director of Cedars-Sinai Heart Institute in California, and this study shows it is a type of intervention that can work. "It's a proof-of-concept study," Victor told Reuters Health. Millions of people who use shaving from barbers have high blood pressure, and most do not have it under control - putting them at risk of serious illness and death. Barbershops are community gathering spots for black men, some of whom have been clients for years, visiting once every three to four weeks. As a result, some researchers have asked: Why not work health information into the cut and shave? In the current study, published in the Archives of Internal Medicine, Victor and his team asked patrons of 17 black-owned barbershops in Dallas County, Texas, to be screened for hypertension. They found that 45 per cent of the shops' clientele had hypertension, but only 38 per cent of the men had brought their blood pressure down to a safe level.

The researchers then randomly divided the shops into two groups. In one, shops received pamphlets about the disease and modes of treatment. In the other group, barbers were trained to check patrons' blood pressure during every haircut visit, encourage those with hypertension to see their own doctors or refer them to nursing staff if they did not

posters depicting these success stories to hang on barbershop walls. "The customers who came in would often recognize the people on the posters, because they were real customers," Victor said. More than 80 per cent of patrons said their barbers told a model story during at least half of their haircuts. Barbers measured blood pressure in

have a doctor. Barbers even provided clients with referral cards to give to their doctors noting their latest barbershop blood-pressure readings. The barbers also told "model stories" during haircuts about real patrons who got their blood pressure under control. In one, a barber described a man who, in working overtime to support his two daughters, neglected his own health and ended up with diabetes and hypertension. The barber encouraged him to find a doctor who helped him manage his blood pressure and earned the gratitude of the client, who was happy to be well for his daughters' sake. The researchers even made

77 per cent of patrons with hypertension, and helped convince 51per cent of those with high readings to see a doctor. "Most of the barbers really did an incredible job," Victor noted. After 10 months, he and his team checked the barber shop clients in both groups again, and found that men in the group that received the full barber-intervention were more likely to have gotten their blood pressure under control than those who had simply received pamphlets at the shop. Specifically, in the intervention group, the proportion of men with hypertension who had brought their blood pressure down to a safe level

increased from 34 per cent to 54 per cent during the study period. However, even the pamphlet-only group showed some improvement "there were not humungous differences" between the two groups, Victor noted. The lack of a big difference between the two groups isn't surprising, noted Dr. Kevin Fiscella of the University of Rochester School of Medicine & Dentistry in New York, who was not involved in the study. "When you start taking people's blood pressure and giving them information, that is an intervention," he said. Taking the extra step of training the barbers "is a nice way of both hooking people in as well as underscoring the importance" of getting their blood pressure under control, noted Fiscella, who studies methods of delivering health services to underserved populations. However, to take that extra step, Victor and his team paid barbers $3 per blood-pressure recording, $10 per referral request, and $50 for every time a patron returned a blood-pressure reading card signed by the patron's doctor (for which patrons also received a free $12 haircut). To be "scalable and sustainable," researchers would have to find another method besides money to incentivize everybody, Victor said. But even though the differences in improvement between the two groups weren't enormous, even a small increase in the number of people whose blood pressure is under control could have a big impact on public health, by reducing the number of complications, Victor added. "From a public health perspective, (a small improvement) is not trivial."-Reuters

New drug shows promise against Asian liver fluke A

"Our results were very encouraging for tribendimidine," Jennifer Keiser of the Swiss Tropical and Public Health Institute, who led the study, said in a telephone interview. "The cure rates were much better than praziquantel, but of course we would now need to confirm these results in larger clinical trials. To move forward, this drug would also need to be developed outside China." Parasitic worms come in various types and are a problem that plagues more than a billion people around the world. Over time these parasites have become increasingly resistant to available drugs, raising an urgent need to find new drugs to fight them. According to the World Health Organization, Opisthorchis caused by parasitic worms is endemic in southeast Asia, the Siberian lowlands and eastern Europe. An estimated 67

n experimental drug called tribendimidine could help cure millions of people infected with a parasitic worm known as the Southeast Asian liver fluke, which can cause cancer, Swiss scientists said. In a study in The Lancet medical journal, researchers found that tribendimidine, developed by the Chinese National Institute of Parasitic Diseases, is as safe and effective as the standard treatment for this fluke -- a generic drug called praziquantel -- and has a cure rate of 70 per cent. In contrast to the new drug, antimalarials such as artemether, artesunate, mefloquine "are ineffective and should not be recommended" for treating the fluke, also known as Opisthorchis viverrini or O viverrini, the researchers said.

million people are at risk of the disease, and 9 million are infected in Cambodia, Laos, and northeastern parts of Thailand and Vietnam. Infection with this fluke can cause a variety of conditions, including cancers of the bile duct. The researchers said that since praziquantel is currently the only drug treatment available and concerns are growing about the emergence of resistance to it, they wanted to look at the efficacy of other potential treatments. Besides tribendimidine, which is licensed in China for use in people but has not been registered outside China, the antimalarial drugs artemether, artesunate and mefloquine have shown potential against the infection in studies on animals. Keiser's team conducted a trial to assess the safety and efficacy of

these drugs compared with praziquantel in school children in Laos, where prevalence of Opisthorchis viverrini infection is higher than 50 per cent. They treated 125 infected children with one of five options and measured the effects by cure rate and by each drug's ability to clear eggs laid by the parasites in their human hosts. The highest cure rate of 70 per cent was seen in patients treated with tribendimidine, followed by 56 per cent for those treated with praziquantel. Just four per cent of children taking combined mefloquine and artesunate were cured, and four per cent of those on artesunate only. No child was cured with mefloquine. Praziquantel and tribendimidine were also found to be "significantly more effective" than the others at clearing eggs, Keiser's team said.-Reuters

Winter Foods for Warming up T

he climatic winter is slowly, slowly moving its step to rise. It's that time of the year when you want to stay in and sip cups of latte under a blanket. What better way to spend this season, right? But it is also the season of colds and flus. Here are some foods that will not just keep you warm during this cold period of year, but will keep you fit through it's too. Sweet potatoes Sweet potatoes are highly nutritious roots. "Roots are excellent foods for winter as they provide you with warmth," says Mumbai-based consultant dietician Dr Yawar Dube. They are also a good source of dietary fibre and carbohydrates. They are also a good source of Vitamins A and C and a good source of minerals like manganese and copper. So have them, boiled, baked or even in a soup! Another root to have this season is potato. These are a good healthy source of carbs and dietary fibre and are rich in Vitamin A. So have 'em baked, roasted, grilled or even in a potatoleek soup. Spinach "Greens are good for you during winter too as they are rich in antioxidants," says dietician Maithili Pashtekar. Antioxidants perk you up and keep winter blues at bay. Spinach is also a good source of iron and calcium. So, whip up those soups and juices to start your day with! Sesame seeds Sesame seeds will keep you warm too. "Sesame or til chikkis are best eaten during winter as they produce heat in our body and are a good source of calcium too," says Maithili. It is best had after a meal as it aides digestion. It is a good source of minerals like magnesium, iron, manganese and copper. These seeds helps your skin to retain moisture too! Peanuts "Peanuts are rich in antioxidants," says Dr Yawar. These nuts also provide warmth to our system. Peanuts are a good source of vitamin E and B3. What's more, because it is a good source of monounsaturated fats, it is a heart-friendly food too . Bajra and Jowar Millets like bajra and jowar also make for great meals during winter. "They are rich in calcium," says Dr Yawar. Winter is the time we fortify our body and these millets help in absorption of calcium and build muscle tissue, she goes on to say. So make a meal of bhakris with jowar or bajra flour and spicy garlic chutney! Oily Fish Oily fish are a good source of vitamin D. "Vitmain D levels could go down during winter," says Maithili. Moreover, they are a good source of omega 3 fats that will help prevent mood swings by elevating the serotonin levels in your body. Pomegranate Pomegranates are a good source of polyphenols, a powerful antioxidant," says Dr Yawar. It is also a good source of minerals like calcium and phosphorus. "This combination works well in boosting our immunity," says Dr Yawar. Here are a Few More Tips from Dr Yawar for a Healthy, Happy Winter n Include a lot of berries like strawberries and blueberries in your diet as these are rich in antioxidants and will perk you up in no time. n Don't forget to keep yourself hydrated even during winter. It is essential not only to keep your system functioning smoothly, but beautiful skin too. n Avoid rich foods, eg. deep fried foods and cheese. These are unhealthy at all times. And you won't notice the extra pounds you have put on until summer! n Choose to drink herbal teas like green tea, jasmine and chamomile over tea and coffee to prevent ODing on caffeine.-Reuters

The problem with phthalates I

magine a child sitting in his classroom, gazing through the window at the rain. He picks up his pencil and chews distractedly on the eraser at its top. Chemicals, classed in Europe as "toxic to reproduction," dissolve in his saliva and enter his body. It's a scenario that may not be unusual. A report published last week by a consortium of 140 environment groups shows that potentially risky chemicals are present in dozens of everyday plastic items for sale by European retailers -- from shoes to erasers, from pencil cases to sex toys. The study focused on a group of chemicals known as phthalates, six of which have been virtually banned in toys in the European Union since 1999 over fears they can damage the sexual development of children. But as the European Environmental Bureau (EEB) found in its study, phthalates are present in items routinely used by children and on sale in big supermarkets such as Carrefour and Tesco. The study, based on a chemical analysis by PiCA, an independent chemical laboratory in Berlin, found one pink pencil case with

levels three times those which the EU says should be the maximum in toys and "childcare articles." A phthalate that scientists suspect may be particularly harmful to humans was found in an eraser at a level close to that which would be banned in a toy. Concerns about phthalates are not new, and retailers selling products containing them are not breaking the law, because the regulations do not cover objects such as pencil cases and erasers. But the EEB study also found that retailers appear to be ignoring a legal obligation to provide information about the presence of phthalates to shoppers. Less than a quarter of retailers in its survey provided satisfactory answers to requests for information about chemicals in their products. "All citizens ought to be given full information about properties of chemicals in the products they buy," said Christian Schaible, EEB Chemicals Policy Officer. "A parent, for instance, should automatically be informed whether a pencil case for their child contains phthalates which can impair sexual development. "Unfortunately suppliers are

only obliged to give information under specific conditions. We have shown that not even this legal right is guaranteed in practice." Carrefour told Reuters that it does adequately address requests for information on risky chemicals and said it deals with such requests within 45 days. Tesco said it was aware of its duties and has its own code of practice in place to keep worrying chemicals out of clothes and shoes. "We have worked closely with our suppliers to identify these substances and have replaced them with suitable alternatives," it said in a statement. LINK TO SEXUAL DEVELOPMENT Phthalates are a range of chemicals regularly used to make plastics more flexible. There are about 25 of them, and in recent decades they have permeated the very fabric of our society, right down to the shoes on our feet. They are in the air we breathe and the paint on our office walls, they soften the vinyl floors of kitchens and bathrooms, they put the flex in our shower curtains and electric cables.

In your car, phthalates coat the chassis against rust and soften the plastics of its doors, dashboard and the steering wheel in your hands. They are in our food, some scientists think, after leaching out of the pipes and plastics used in food processing machinery. They are in our bodies. The global chemicals industry produces nearly six million tonnes of phthalates every year. Some scientists, and an increasing number of governments, have begun to suspect that phthalates might be connected to a massive drop in male fertility globally over the past few decades -- in the developed world, repeated studies have shown sperm counts have decreased by about 50 per cent in the past half century -- as well as to problems with the sexual development of boys in the womb. The most volatile of the chemicals disperse easily from plastics and have been shown to interfere with the sexual development of fetal rats, by interrupting the production of testosterone. Some studies have suggested similar effects in humans.-Reuters


6

Analysis & Feature

Sunday, November 28, 2010

INVESTORS CIRCLE TURKMENISTAN FOR ENERGY OPENINGS * TURKMENISTAN PLANS TO BOOST OIL, GAS OUTPUT BY 2030 * OFFSHORE, SERVICE DEALS LIKELY FOR FOREIGN MAJORS

W

estern energy firms are poised to strike deals in Turkmenistan as the Central Asian state opens up its lucrative oil and gas reserves after years of isolation. Chevron Corp, Total and TXOil Ltd, a company chaired by a younger brother of former US president George W. Bush, are among those pursuing deals in the desert nation, home to the world's fourth-largest natural gas reserves. Few, however, expect an instant bonanza. Competition will be tough and analysts predict the next influx of foreign investors will be restricted to offshore blocks in the Caspian Sea and service contracts at prized onshore gas fields. "Turkmenistan's policy is to invite foreign companies for offshore and service contracts. I'm not sure this will change," said Najia Badykova, who worked in the Turkmenistan government before founding Washington D.C.-based company Antares Strategy. Turkmenistan, a former Soviet republic bordering Afghanistan and Iran, plans to triple gas production to 230 billion cubic metres (bcm) over the next two decades and forecasts a more than sixfold increase in oil output, to 67 million tonnes per year. It traditionally sends its gas north to its Soviet-era master Russia, but is diversifying export routes to meet growing demand in China, Iran and Europe. Turkmen gas will be crucial to the European Union-backed

Nabucco pipeline project. A dispute last year with Moscow over a ruptured pipeline, which cost Turkmenistan $1 billion for every month that delivery was disrupted and ultimately led to a sharp fall in Turkmen gas supplies to Russia, has increased its appetite for new markets. Western executives say Turkmenistan's ambitious growth plans will not be possible without foreign capital and expertise. "The desired production growth will take a large amount of capital investment on a sustained basis over a number of years," said Douglas Uchikura, president of Chevron Nebitgaz B.V. "The president definitely has an objective to open up for what he would consider mutually beneficial opportunities," he said. "Their opening will be very measured." OPENING UP? Turkmenistan forecasts its economy, dependent largely on gas and cotton, will grow by 7.5 per cent this year. The outlook of the International Monetary Fund is even rosier, at 9.4 per cent. Privately, officials express frustration that the perception of the country has changed little since the death four years ago of Turkmenistan's first post-Soviet leader, Saparmurat Niyazov. The marble palaces and grand fountains of the capital, Ashgabat, are a monument to Niyazov -- the selfstyled Turkmenbashi, or Leader of the Turkmen -- and the formidable personality cult that characterised his

often eccentric rule. Since then, several Internet cafes have opened in Ashgabat. Satellite dishes battle for roof space on threeand four-storey apartment blocks in the older neighbourhoods of the city, where residents say they can tune in to more than 700 channels. Turkmenistan even ranked 18th of 155 countries in a Gallup World Poll of the world's happiest places this year. But it ranks much lower on most other surveys. Only Eritrea and North Korea scored worse in the 2010 press freedom index compiled by media watchdog Reporters Without Borders. Its few vocal opposition figures have long fled the country and those who remain dare not speak out against the government. Foreign diplomats in Ashgabat say it is too early to say whether Niyazov's personality cult will be replaced by that of his successor, qualified dentist K u r b a n g u l y Berdymukhamedov. A larger-than-life portrait of the current president, pen poised in his right hand, loomed over the foreign executives who spoke at a recent energy conference in the capital, each with an eye on the ultimate prize: his signature on their proposals. "Things don't change overnight, otherwise it's called a revolution," said one diplomat. "But the government is increasing its level of economic interaction with the world. That simply was-

n't done in the past." STATE PARTNERSHIPS So what is the secret to doing business in Turkmenistan? Dubai-based Dragon Oil plc has been there for more than a decade and has invested almost $2 billion to date. It has a Production Sharing Agreement to operate the Cheleken contract area and employs nearly 1,000 Turkmen staff. "You have to be a partner with a state agency, follow all their regulations and help the local economy," Emad Buhulaigah, Dragon Oil's

general manager for petroleum development, said. Dealing with the state has been a stumbling block for some Western companies. State-run Chinese firms have the advantage of being able to strike deals quickly with the Turkmen government. "It can sometimes be difficult to explain that a Western government cannot tell a private company what to do," said a second foreign diplomat. Layers of bureaucracy and concern in the West over Turkmenistan's human rights record have also made it

awkward for some private investors to commit to business in the country. A third diplomat recalled a recent conversation with a high-ranking member of the Turkmen government. "Do you know what he said? 'It takes the European Union 14 months to draft a memorandum. It takes China 14 months to build a pipeline'." A 1,833-km (1,139-mile) pipeline to China, ready to pump 40 billion cubic metres of gas eastward by 2013, opened last year. China has supplied billions of dollars in loans and state

firm CNPC was among four Asian companies to win contracts last December for development of the jewel in Turkmenistan's energy crown: the South Iolotan gas field. European and US firms, however, are unlikely to miss out, a fact reinforced by recent Turkmen assurances it would soon have another 40 bcm of gas to send westward under the Caspian. "It's not in Turkmenistan's interests to be locked between two giants, Russia and China," said Badykova. Reuters

Portuguese banks risk needing help with ECB habit P

ortugal has denied it's under pressure to get help now from its eurozone brethren but its banks could sooner or later become a trigger for a mayday call if national austerity measures continue to drain liquidity. Although its banks are not at the heart of Portugal's woes as Ireland's are, they are already dependent on a lifeline from abroad, namely European Central Bank funding, analysts said. And now a worsening economic situation is starting to gnaw into deposits by households and the volume of bad loans is on the rise at a time when bank funding remains tight. "Banks do not represent a fundamental problem in Portugal, but if you look at what could be a trigger for Portugal to seek aid, the banking sector's liquidity is

definitely there," said London-based Citi economist Giada Giani. Analysts say Portugal has a few months until a major bond repayment comes due in April to persuade markets it can avoid becoming the next euro zone member to follow Ireland in seeking a bailout, but its growth and fiscal outlook make it a daunting task. Portuguese banks have not been exposed to toxic assets in the global financial crisis and there has been no property bubble in Portugal, unlike in countries like Ireland or Spain. But investor concerns about Portugal's creditworthiness have squeezed the banks out of the interbank market for loans. And on Friday the European Union and International Monetary Fund

were said to be looking at ways to make senior bondholders share some of the pain of rescuing Ireland's banks, a move which is unlikely to make the banks' access to the bond market any easier. "The problem is that banks are highly reliant on ECB loans as they have been shut off from the wholesale market. They may just run out of liquidity," Giani said. And analysts say the ECB cannot be there forever for Portuguese banks. The ECB has warned about the risk of creating a long-term dependency on its non-standard liquidity measures and said it will continue to scale down its support next year despite the escalation of euro zone debt tensions. "This oxygen tank will end one day. Banks are seeking liquidity at 1 per cent with

the ECB, but in the market they'd have to pay 6, 7 or 8 per cent to be able to borrow, which would put an end to profitability," Joao Pereira Leite, head of investment at Banco Carregosa, said. Fitch Ratings this month cut the credit rating of four leading Portuguese banks -Millennium bcp, Banco Espirito Santo, BPI and Banif -- citing their reliance on ECB loans, debt coming due in 2011 and 2012 and deteriorating domestic performance and asset quality. Borrowing by Portuguese banks from the ECB, which hit a record of over 49.1 billion euros in August, dropped 20 per cent the following month. But last month it was practically unchanged at just over 40 billion euros, disappointing analysts. Fernando Ulrich, head of BPI, said this week

he expected his and other Portuguese banks' dependence on ECB loans to diminish towards the end of the year but next year they will have to pay more for these financing lines than the current 1 per cent. FALLING DEPOSITS Meanwhile recent Bank of Portugal data showed that deposits by private individuals fell in September by 1.45 billion euros ($1.9 billion) to 116.86 billion euros, a second straight monthly fall and the biggest drop in years. Total deposits still rose in the month to 212.6 billion euros. An exodus of deposits heightened problems in Ireland and Greece, forcing banks to turn to the ECB for funds. "The dynamics of deposits is of key importance in a debt crisis. In Greece this was what made the govern-

ment throw in the towel and ask for EU aid. So if we see deposits steadily falling it may be a very bad sign," Giani said. Andre Rodrigues, an analyst at Caixa BI investment bank, said the drop in deposits in Portugal showed the economic difficulties that people are living through, having to withdraw money from savings to pay their bills and he expects the situation to worsen next year. "Non-performing loans are also likely to keep rising in the coming months as a result of new austerity measures in the 2011 budget ... which will translate into a significant deterioration of macroeconomic data and can have a major impact on bank earnings," he added. The 2011 budget includes painful measures such as a 5 per cent cut in civil servants'

wages, a rise in value-added tax to 23 per cent from 21 per cent, as well as cuts in tax benefits. The government expects the economy to grow 1.3 per cent this year after last year's 2.6 per cent contraction, but consumption is already fizzling out and many economists anticipate a new recession in 2011 when the new austerity programme kicks in. "The road ahead is going to be very difficult for Portuguese banks in the next few years, with margins narrowing, less credit and bad loans rising, especially with the austerity measures," said Leite. "There is already a war for deposits and it will continue as it's the cheapest source of capital. The scenario is not good for the Portuguese banking sector," he said. -Reuters

Emerging stocks to regain pole position from debt E merging debt returns have nosed out their equity counterpart so far this year but stocks may be set for a strong finish due to a flood of cheap US cash and capital controls that have made foreign bond purchases costlier. In absolute terms, investment into emerging equities continues to dwarf emerging debt inflows. But for investors fleeing ultra-low interest rates in more mature economies, fixed-income assets issued by emerging-market borrowers in local currency became irresistible, offering richer and more predictable returns than equities.

JPMorgan's GBI-EM localcurrency debt index saw total returns of 15 per cent year-todate while its EMBI Global Diversified index <11EML> which tracks emerging sovereign dollar bonds have generated 14 per cent. Both of those outstrip the 13 per cent total return seen on emerging equities over the same period. In 2009, emerging equities more than doubled the total returns of emerging sovereign bonds with a 79 per cent windfall. Equities have born the brunt of market volatility this year, however, and investors have responded to economic uncertainty by committing funds to fixed-

income assets more consistently. "External emerging debt spreads have rallied so much this year to such narrow levels that there's little left to go," said RBC Capital Markets emerging markets strategist Nigel Rendell. "From this standpoint, emerging equities look attractive." INFLATION BOOST Data from funds flow tracker EPFR show inflows into emerging equity funds for the week ended Nov 17 slowing to a trickle of $447 million in the face of renewed investor jitters over sovereign debt in the euro zone. This compares poorly to a $2.7bn weekly average over

the previous 24 weeks but favourably to the net $1.38 billion that was pulled out from hard currency funds over the same week. Flows into local-currency emerging bond funds are still holding up, amounting to $462 million compared to $572 million the previous week. But global inflationary pressures are set to grow as the US Federal Reserve unleashes its second round of stimulus to quicken the flagging pace of US economic recovery. In anticipation, fund managers are paring back on global debt holdings, according to Bank of America-Merrill

Lynch's November fund manager survey. The poll also found a net 56 per cent of global investors overweight global emerging market equities, their second highest reading ever. "Global liquidity is considered to be the most important driver of global emerging market equities, ahead of emerging market domestic demand," BofA-Merrill said. That liquidity will also push commodity prices up, boosting resource-focused bourses in Indonesia, Russia and Brazil. Standard & Poor's (S&P) analyst Alka Banerjee argues that foreign investment into emerging markets has so far been largely cen-

tred on blue-chip companies and value remains to be found in small-cap shares. Small-cap shares tracked by S&P have generated annualised returns of around 20 per cent returns in the last 10 years -- outperforming midto large-cap share returns of about 15 per cent and a reversal of the 11 per cent fall between 1994-2000. "(There's a) shift towards investing across a broad and diverse set of emerging market equities as opposed to a few blue-chip stocks," she said. No doubt, equity markets also look more welcoming to investors who now face higher costs when buying emerg-

ing bonds. The raft of capital curbs adopted by some emerging economies to cope with the flood of foreign capital has been focused on bond markets. Brazil, for instance, has slapped a tax on flows to local debt securities while South Korea is moving to remove a withholding tax exemption for foreign bond buyers. "Capital control measures adopted by emerging economies have been mainly focused on foreign purchases of bonds. That makes it all the easier for investors to want to switch to other assets," said Narain Manik, a UBS strategist. -Reuters


7

Sunday, November 28, 2010

Cannabis drug boosts profits at GW Pharma

Brussels: View of Belgian headquarters of US pharmaceutical giant Pfizer in Brussels. Reuters

Otsuka sets IPO range on weak side on growth worries TOKYO: Japan's Otsuka Holdings set a tentative IPO price range with a lower end 17 per cent weaker than a prior reference price, reflecting worries about its growth prospects after a key drug loses patent protection in 2015. Otsuka, which developed schizophrenia drug Abilify and tied up with BristolMyers Squibb to sell it in the U.S. and other markets, set a range of 2,000-2,400 yen ($24-$29) per share, compared with its indicative price of 2,400 yen. It would raise $2.7 billion at the top of that range, exceeding Merck KGaA's $1.7 billion 1995 debut, previously the largest IPO on record globally for a pharmaceutical firm. Investors sounded out for the offering had raised the company's heavy reliance on Abilify and the uncertain outlook for profits once it loses

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its patent protection as a concern, Otsuka said in a filing, citing that as one factor behind the set range. "Otsuka sells Abilify jointly with Bristol-Myers in U.S. and the sales figures were very strong at $2.5 billion, but the patent expires in April 2015, so there's nothing afterwards," said Atsushi Seki, an analyst at Barclays Capital. Otsuka, which also sells sports drinks, instant meals and skincare products, will be the second-biggest listing in Japan this year after that of Dai-ichi Life Insurance, and comes at a time when the Tokyo stock market has been sluggish. That contrasts with elsewhere in Asia. Companies have raised a total of $48.7 billion through IPOs in Hong Kong so far this year, according to Thomson Reuters data, nearly double the tally last year. Yet even one of hottest mar-

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Premier said that the armed forces had the support of the masses on the issue of war against terror and no battle could be won without peoples' support. When asked about the conviction of Aasia Bibi and rumours of repeal of Blasphemy Act and the strong opposition by the religious parties, Prime Minister said, "It was a non-issue and would be resolved soon". To a question about improving relations with the opposition, Gilani said that diversity of opinion was the soul of democracy. He highlighted that it was unprecedented in the democratic history of the country that politics of reconciliation and a political culture of no political victimisation was introduced by a political party (PPP).There were no political prisoners in the jails, he added. PM Gilani announced donating his liver for saving lives of others and urged the masses to donate organs for the cause of humanity. He also inquired after the health of federal minister Manzoor Ahmed Wattoo besides husband of MNA Samina Khar in the same hospital. -Agencies

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kets for IPOs remains vulnerable to global economic downturn concerns Hong Kong saw more than $3 billion worth of floats shelved on Wednesday as tensions in Korea and Ireland's debt problems rattled investors. The shaky outlook could also turn some investors away from Otsuka even at the lower price range, said Yuuki Sakurai, CEO and president of Fukoku Capital Management in Tokyo. "Unless its urgent it's probably better to wait for a year. I don't think the wind is pulling them," he said. Otsuka, Japan's secondbiggest pharmaceutical group in terms of annual revenue after Takeda Pharmaceutical (4502.T), said it would sell 80 million shares, including 56.7 million shares outside Japan. It also earmarked 4.5 million shares for a green shoe option with shareholders selling 10 million more. -Reuters

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L O N D O N : G W Pharmaceuticals' (GWP.L) profits rose sharply following the successful launch of its cannabis-derived drug Sativex in Britain, and it said it had started final-stage trials of the medicine to treat cancer pain. The British firm grows cannabis in secret locations around the English countryside to produce Sativex, an underthe-tongue spray that was launched earlier this year in Britain to treat spasticity in patients with multiple sclerosis (MS). The drug is also on track to be launched for MS in Spain in early 2011, with other European markets following, but prescribing Sativex to cancer patients is likely to be a bigger market. "In terms of target cancer patient population, the cancer pain opportunity is a larger opportunity than multiple sclerosis," GW's Managing Director Justin Gover told Reuters. "There are around 35 percent of people with advanced cancer that have pain which is not adequately controlled with their opiate treatment ... and we aim to treat those patients." The goal of treating cancer pain is also important for GW because, if successful, it will mark the entry-point for Sativex into the all-important U.S. market. Pretax profit in the year to Sept. 30 increased to 4.6 million pounds ($7.37 million) from 1.2 million pounds a year ago, as sales of Sativex jumped by 64 percent to 2.8 million pounds from 1.7 million pounds. -Reuters

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Chairman Board of Investment Saleem Mandviwala and a trade and business delegation are part of the delegation that will explore new avenues for cooperation during their stay in the Sri Lankan capital. Foreign Minister Qureshi will hold separate talks with his Sri Lankan counterpart Prof GL Peiris. President Zardari will hold talks with Sri Lankan leaders on enhancing economic cooperation within the ambit of the Free Trade Agreement signed between Sri Lanka and Pakistan in 2002 and made operational since 2005. Extensive discussions on tourism, cultural ties and media relations are also expected. Pakistan is the second largest trading partner of Sri Lanka in South Asia after India and Sri Lanka was the first country to sign a free trade agreement with Pakistan. The President will interact with members of the Sri LankaPakistan Parliamentary Friendship Association and also address a Business Forum comprising Sri Lankan businessmen and corporate leaders. He will also interact with high ranking Sri Lankan dignitaries. -Online

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the far eastern nations of the continent. The prelude to the official part of the ceremony was punctuated by dance of Qiling (a legendary animal symbolizing good luck) to celebrate the success of the Games that was followed by an exhibition of acrobatics and dance. A small cultural segment was then presented with fishing lights shaped as starlight and the crescent moon used as major props to create a dream-like atmosphere of changing colours and flowing figures, the images giving the crowd an impression of fairy tales and scenes of fishing. The face of a smiling child appeared which turned into a beautiful girl from this city of ten million who frolics in the night sky amidst the stars. When she extended her hand all the stars and moon fell into her grasp and she, with a laugh, threw the stars and moon to the Games Torch Tower in the centre of the square. As they fell to the ground, hundreds of children appeared like magic and scattered in all directions to form the Asian Games emblem. A ship resembling a crescent moon with singing children on board gently set sail on the front waterway and hundreds of chorus singers with stars in their hands in four groups entered from two sides. A child singer picked up a Lingnan-style fishing lantern made of bamboo splits enclosed by paper from the water. -Agencies

extremist organisations are in contact with each other and aimed at to create war between the countries while ISI is not involved in any terror attack in India and the allegations are baseless. Interior Minister Rehman Malik said that Pak-India extremist organisations want war between both the countries so India should take action against its extremist organisations as well. He further said that Pakistan sought permission from India to permit Pakistani commission comprising 3 members; to come to India to investigate Mumbai attacks. He said that Pakistan has formed three-member commission to settle issues related to Ajmal Kasab including his statement, postmortem and other affairs. The commission comprises FIA official, Defence ministry and Prosecution lawyers. The commission would visit India to review the matters and would confirm the statement of Ajmal Kasab from Indian Magistrate. He further said that FIA's role for eliminating corruption is appreciate able as only 20 cases of corruption recorded in the government departments while only 14 officials of grade 17 to 22 have been arrested in this regard. He said that allegations have been leveled on the government in NLC scandal. FIA has arrested the leading character of NLC scandal, former Chairman NIC Ayaz Niazi and has recovered Rs 1.5 Continued from page 8 billion. No #7 He said that the investigation against Trading Corporation of suicide attack in a mosque of F-8 sector and possible they could Pakistan is underway. attack the parliament House as well. Malik further said that the security departments are rendering He appreciates the performance of law enforcement agencies in great sacrifices in war against terrorism. "We have to pay taxes if the apprehension of these two suicide bombers. we want to eliminate terrorism, so that funds could be released to To a question regarding Mumbai attack, he said his Indian counstrengthen security departments," he added. -Agencies terpart in a press statement expressed dissatisfaction on trial of accused of Mumbai attack in Pakistan, adding that we made the Continued from page 1 No #3 statement of Ajmal Kasab as base but our courts require validation According to planning commission documents reservations of his statement and we have written this to India. were voiced with reference to governance in respect of the projHe said we have proposed India that a Pakistani commission can ects which had been abolished. visit New Delhi to ensure to validate Ajmal Kasab's statement, but The projects which have been reprioritized include projects India has yet not given any response so far. The delay is on Indian nearing completion, social sector projects, key infrastructure projside, he added. -APP ects, energy, water, transport and projects for removing regional Continued from page 8 No #8 disparity. Those projects would be completed whereupon provinces would raise no objection. -Online from us about energy crisis, he added. Israr Tareen demanded that matters related to Quetta Electricity Continued from page 1 No #4 Supply Company be also be probed into. Chairperson. The coalition parties JUI-F, PML-N, PML-Q and Secretary water and power told rental power station would start MQM are against the bill due to which the approval of the bills seems impossible. Meanwhile National Assembly Secretariat has received producing electricity from December and the power to be generrecommendations of Senate Standing Committee for Finance over ated from this ship would be integrated into national grid. -Online RGST and Finance Amendment bills 2010, here on Saturday. Continued from page 8 No #9 The Senate approved the recommendations on Friday. The recEU foreign policy chief Catherine Ashton said this week she had ommendations signed by Chairman Senate, have been dispatched to received "informal confirmations" from Iran about the date and National Assembly Speaker. The National Assembly has authority location for the talks, "but I want a formal confirmation." to accept or reject some or all the recommendations. -Online Iran and six world powers -- the United States, Russia, China,

Abbott Labs' India units to merge * Solvay Pharma shareholders to get 3 Abbott shares for 2 held * Abbott India shares touch 52-week high * Solvay Pharma stock drops more than 13 pc MUMBAI: Abbott India agreed to merge Solvay Pharma into itself, combining two Indian units of U.S.based Abbott Laboratories' and sending Abbott India shares to a 52-week high. Solvay Pharma said its shareholders would get three shares of Abbott India for every two held. Solvay Pharma shares fell more than 13 percent following the news. Abbott Labs had acquired the global pharma-

ceutical business of Belgiumbased Solvay in September 2009. "The amalgamation is a logical step in the consummation of the global acquisition of Solvay's pharmaceutical business by Abbott in 2009," UBS, which advised Solvay Pharma on the deal, said in a note. The merged entity would have a combined market share of 11 percent among the multinational pharmaceutical companies in India, it said,

adding the transaction is expected to be completed early next year. Abbott Labs bought the branded generics business of India's Piramal Healthcare for $3.72 billion earlier this year. Shares of Abbott India closed at 1,472.75 rupees on Wednesday, up 3.32 percent, while shares of Solvay Pharma India ended down 11.49 percent at 2,351.25 rupees in a weak Mumbai market. -Reuters

Bad blood grows between Swiss drug CEOs NEW YORK: Relations have turned icy between the CEOs of Roche and Novartis as Switzerland's top two drug executives defend their very different strategies to making money in a tough healthcare market. The climate became frostier last week when Roche's Severin Schwan announced a cost-saving program on the same day that Novartis CEO Joe Jimenez presented his diversification strategy at the group's long-awaited investor day in London. "It was noticeable that Jimenez was irritated about the timing of the Roche cost-cutting announcement," said Vontobel analyst Andrew Weiss, who attended the London meeting. The differences go deeper than a matter of timing. Schwan, an Austrian who collected his doctorate in law from the University of Innsbruck, has been dismissive of the sort of approach taken by Novartis, based on expanding into broader product categories.

"A lot of people call it diversification," Schwan was quoted as saying in an interview with the Financial Times. "I call it giving up." For investors too the issues are potentially serious as governments across the world look to slash drug spending, regulatory standards toughen and looming patent expiries create a tough environment for the drug sector. This has prompted pharmaceutical groups, including Roche and Novartis, to examine their strategies, the results of which could play a big part in determining which stocks outperform and which lag behind in coming months and years. Roche is cutting about 6 percent of its workforce over the next two years, aiming to reduce annual costs by 2.4 billion francs from 2012 onwards, while Novartis's Jimenez, a former H.J. Heinz Co executive who took over in February, has mapped out a broad-based diversification plan. -Reuters

France, Britain and Germany -- have agreed to return to the negotiating table for the first time since October 2009, but two sides diverge on what issues should be on the table. The world powers want the talks to focus on Iran's uranium enrichment programme but Tehran wants a wider discussion that includes regional security issues. Iran is under four sets of UN sanctions over its refusal to suspend uranium enrichment, the sensitive process which can be used to make nuclear fuel or, in highly extended form, the fissile core of an atom bomb. Last month Iran said it has begun loading fuel -provided by Moscow which also recovers the spent fuel-- into the reactor core of Bushehr plant, a move which brings the facility closer to generating electricity after decades of delay. Iran had begun transferring the fuel to the facility on August 21, a process which was described as the "physical launch" of the power plant. On October 4, Salehi said the power plant would be ready to generate electricity by January -- two months later than previously announced. The process of loading the fuel has suffered some hiccups, which Salehi has previously blamed on "severe hot weather" in Bushehr. -Agencies

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The US military said the exercises, planned long before Tuesday's attack, were designed to deter North Korea and were not aimed at China. The United States is sending an aircraft carrier group led by the nuclear-powered USS George Washington for the maneuvers with South Korea. "We've routinely operated in waters off the Korean peninsula for years," said Captain Darryn James, a Pentagon spokesman. "These latest provocations have been by the North and they need to take ownership of those, not us." US Admiral Mike Mullen, chairman of the Joint Chiefs of Staff, said North Korea's nuclear ambitions and leader Kim Jong-il's unpredictability increased the threat of regional instability. "It's hard to know why China doesn't push harder," Mullen, told CNN television's Fareed Zakaria GPS, in comments due to air on Sunday. "My sense is they try to control this guy. And I'm not sure he is controllable." "He's not a guy we can trust," Mullen said. "That's why the leadership aspect of this from China is so important, because if any country has influence in Pyongyang, it's China," he said. Mullen has said he believes the artillery attack and the sinking in March of a South Korean warship, which the United States and South Korea blamed on the North, is likely linked to Kim Jongil's "posturing" to allow the eventual succession. Calling for calm after the attack, Chinese Foreign Minister Yang Jiechi met North Korean ambassador Ji Jae Ryong in Beijing and talked by phone with US Secretary of State Hillary Clinton and South Korean Foreign Minister Kim Sung-hwan. "The top priority now is to keep the situation under control and to ensure such events do nothappen again," the Chinese Foreign Ministry said in a statement. North Korean artillery shells rained down on the small South Korean island of Yeonpyeong on Tuesday, killing four people and destroying dozens of houses. South Korean troops fired back 13 minutes later, causing unknown damage. "The situation on the Korean peninsula is inching closer to the brink of war due to the reckless plan of those trigger-happy elements to stage again war exercises targeted against (North Korea)," the North's KCNA news agency said. -Reuters

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son, are now battling American forces in eastern Afghanistan. Elsewhere, Afghan and coalition forces killed at least 15 insurgents during an overnight search for a senior Taliban leader in remote eastern Afghanistan, Nato said Saturday. Security forces came under attack near a compound in Sherzad district of Nangarhar province on Friday night, sparking a battle that killed the insurgents. Nato also used airstrikes in the operation. The alliance said insurgents were the only casualties. Authorities were trying to determine whether the Taliban leader the troops were searching for was among those killed. The leader was not identified, but Nato said he helped foreign fighters, raised money and planned attacks against Afghan and coalition forces. Mohammad Hassan, a district chief in the area, gave a slightly higher estimate of the deaths, saying at least 18 Taliban were killed in the fighting, including a local commander. He said the airstrikes hit during a Taliban meeting. Security forces destroyed the weapons found on the insurgents, including rocket-propelled grenade launchers and hand grenades. Also Saturday, Nato said Afghan and coalition forces called in an airstrike to destroy a network of tunnels and underground bunkers in a Taliban-occupied area of Musa Qala district in Helmand province. The strike came during a daylong sweep to clear Taliban cells in the province. Coalition forces searched more than 70 buildings in the area, discovering weapons caches that included detonation cords, 200 blasting caps for roadside bombs, a rocket-propelled grenade and a 40-pound bag of homemade explosives. In Kandahar province on Friday, three Afghan civilians - believed to be ages 10, 15 and 20 - were killed in a roadside bomb blast in Zhari district, Nato said. -Reuters

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U.S presence in Quetta," the spokesman said. He said instead episodic visits by a U.S team provides information and coordination support between the International Security and Assistance Force (ISAF) and Pakistan military forces, when ISAF operates periodically near the border with Pakistan. -Agencies

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Later, talking to newsmen the Minster said that the government has taken corrective measures to boost the agriculture sector, public sector corporations, Pakistan Railways and WAPDA. To a question, he said checking prices of sugar is the responsibility of the provincial governments and seven to eight million sugar tones was available with the government before the increase in prices. To another question, he said the government gets loan from foreign institutions keeping in view the national demand and economic requirement. About Reforms in General Sales Tax, he said that it was not a new tax and government wants to bring about uniformity in the tax rate.-NNI


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'Pro-Musharraf element to be expelled from party'

Sharif seeks remedy for Baloch wounds

QUETTA: Muslim League-N Chief, Nawaz Sharif addresses press conference.-PPI

QUETTA: Pakistan Muslim League (PML-N) chief Mian Nawaz Sharif urged all and sundry to play their role for country's existence and national solidarity, remarking no single party could cope with issues and challenges facing the country wading through a wretched state. Addressing the party's provincial organising committee here, Nawaz Sharif vowed the party will expel

Key militant nabbed in Swat SWAT: A key Taliban commander was netted from Qouta area Matta Tehsil here on Saturday, a private television channel reported. The report said the militant named Sher Ali was reportedly supervising finance matters of TTP Swat and also a prominent member of TTP's Shura as well as key militants' commander. His arrest came when police raided a house in Qouta area of Matta Tehsil.-NNI

Presence of US forces in Quetta denied ISLAMABAD: The embassy of United States Saturday denied the presence of US forces in Quetta. Rejecting a recent news article that reported the approval of a "presence" by the Office of Defense Representative at Pakistan military's 12 Corps Headquarters in Quetta, the US embassy spokesman said, "This reporting is a misrepresentation". "There is no permanent See # 12 Page 7

People pin high hopes on PPP: Kaira WAZIRABAD: Information Minister Qamar Zaman Kaira has said that people have expectations from the government to deliver them and they are within their right to criticize it. He was addressing a function held in connection with death anniversary of Maulana Zafar Ali Khan here on Saturday. He said the government believes in the political consultation as we want to rectify the mistakes. See # 13 Page 7

any of its members if found to be associate or supporter of Former President Gen (Retd) Pervez Musharraf. Commenting on province's condition, Sharif said the circumstances here are critical, as target killing spree against Baloch people is in progress; adding the same spurs his concerns. PML-N chief added Balochistan and people inhabiting it are very dear to him and there is an urgent

need to uproot the permeating sense of deprivation here. He demanded the government to lay bare the law under which Nawab Akbar Khan Bugti was murdered in Balochistan. Nawaz urged party members to put an end to mutual differences and strengthen the part in the province. On complaints from party workers about party set-up, Sharif extended reassurances to them, saying the

organizational structure countrywide including Balochistan is not constant, as it would be overhauled in a couple of months. 'We should rise above being Punjab, Pashtun, Baloch, Sindhi and Saraiki affiliations and call ourselves Pakistani,' he added. Sharif has said if there is any supporter of Musharraf in PML-N he will be expelled from the party. He cautioned country was passing through a critical phase of its history. Karachi is burning and drone attacks are continuing in KhyberPakhtunkhwa. The secret to development of India lies in democracy, he said adding on the other hand our foreign policy has failed. "To me Sanaullah Zehri is as dearer as Sardar Yaqub Nasir", he held. Country was in worst situation and all would have to play their due role for the security of the country, he observed. PML-N central leader Chaudhry Nisar Ali Khan said PML-N had presented resolution against drone attacks twice in national assembly. There was no room for those in PML-N who wanted to create rift in party ranks, he declared.Online

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Ministry refuses to brief NA body on RPPs ISLAMABAD: Ministry of water and power has refused to give briefing to NA standing committee on rental power projects. Committee met here Saturday under its chairman Syed Ghulam Mustafa Shah. Besides members of committee secretary water and power Javed Iqbal and other senior officers also attended the meeting. Secretary water and power told that no briefing could be given to committee on rental power projects as the case was pending hearing in Supreme Court therefore, a week time be allowed. When Supreme Court's decision comes then we will be in a position to say some thing, he added. NA speaker had also given ruling that neither the house nor any committee of the house could be given briefing on any matter which was subjudice, he added. Abid Sher Ali stressed that meetings of the committee should be held regularly. Country was facing worst ever crisis of energy and committee should play its role to deal with this crisis, he added. Nawab Yousuf Talpur said earlier committee had met in March and now its meeting had been convened after 9 months. Ministry of water and power was directly linked to people. Country was facing grave energy crisis. If committee was not needed then it should be abolished, he remarked. We can not face masses when they ask See # 8 Page 7

Fireworks bring curtain down on Asian Games GUANGZHOU: The skies lit up with dazzling fireworks as an emotional China brought the curtains down on the biggest Asian Games in a riot of colour, foot-tapping music and a cultural extravaganza at the Haixinsha Island on the Pearl River here on Saturday. If the opening ceremony held at the same riverside venue on November 12th was high on technical wizardry, the closing was a heart-touching display of warmth by the people of this South China city whose infrastructure has improved tremendously as a result of hosting the Games which saw India record their best-ever medal haul till date. India finished sixth on the medal

rostrum with a record 14 gold, 17 silver and 33 bronze for an overall tally of 64, eclipsing their earlier record of 57 medals in the 1982 Asian Games in Delhi. The closing ceremony was also used by the Games hosts to present cultural segments representing the different regions of the continent, including South Asia in which Indian singers Ravi Tripathi and Tanya Gupta enthralled the capacity crowd. Korea finished way behind in second place while Japan were third that underlined the fact that the Asian Games, the second largest sports event after the Olympic Games, are still being overwhelmingly dominated by See # 6 Page 7

Tehran turns on 1st nuclear plant TEHRAN: Iran said Saturday its first atomic power plant built by Russia in Bushehr has begun operations, ahead of a new round of talks with Western powers over the country's controversial nuclear drive. "Without any propaganda and fuss we sealed the cover of the reactor and all the fuel rods are in the core of the reactor," atomic chief Ali Akbar Salehi was quoted as saying by Fars news agency, without specifying when. But Salehi said the authorities in the Islamic republic "hope that electricity produced at the Bushehr plant will be connected to the national grid in a month

or two." Iran says it needs the plant, which had been under construction since the 1970s in the southern port city of Bushehr before it was completed by Russia, to meet growing demand for electricity. But Western governments suspect Iran's nuclear programme masks a drive for an atomic weapons capability, an ambition Tehran has steadfastly denied. Salehi's announcement came ahead of the likely resumption of stalled negotiations between world powers and Iran on Tehran's controversial nuclear programme in Geneva on December 5. See # 9 Page 7

SKorea to raise defence budget by 5.8pc to $27bn SEOUL: South Korea plans to sharply increase spending on defence next year, local media reported, as regional tensions mount following a North Korean artillery attack and differences between China and the United States. The Korea Economic Daily said the government had proposed a 5.8 per cent increase in the 2011 defence budget to about $27 billion to buy more self-propelled artillery and fighterbombers, far more than the 3.6 per cent rise this year. It said parliament could approve an even higher amount, given this week's

shelling by North Korean forces of a Southern island near the disputed maritime boundary. Regional giant China, reclusive North Korea's only major ally, has said it is determined to prevent an escalation of the violence but warned against military acts near its coast as US and South Korean forces prepared for exercises in the Yellow Sea. North Korea, stepping up its rhetoric, said the four-day naval drills starting on Sunday risked pushing the region towards war. See # 10 Page 7

Twin blasts hit Afghan police HQ, dozen dead KABUL: Two suicide bombers wearing police uniforms blew themselves up at an Afghan police headquarters Saturday, killing at least 12 officers and wounding 16, officials said. The blasts occurred within 20 minutes of each other in Paktika province, said Gen Daud Andarabi, the spokesman for the regional police commander in southeastern Afghanistan. Nawab Waziry, the head of Paktika's provincial council, said both men wore police uniforms and made it through three security gates before reaching the main building on the police compound. One attacker denoted his explosives inside the police headquarters building, the other blew himself near the entrance, he said.

"There are lots of casualties," Waziry told The Associated Press. "The site was covered with blood." The attack took place in one of the most violent areas of Afghanistan, where Nato and Afghan forces fight daily against the al Qaeda linked Haqqani network. The area is about 92 miles south of Kabul and borders the Pakistani region of North Waziristan. It's controlled largely by the network. The border region has long been a refuge for extremists from around the world and has been the target of numerous drone strikes against the Taliban, al Qaeda and the Haqqani network forces. Jalaluddin and Sirajuddin Haqqani, a former anti-Soviet commander and his See # 11 Page 7

Printed & Published by Amir Abbas Ashary at DRC Printing Press for Data Research Communication (PVT) LTD, 111-C, Jami Commercial Phase VII, DHA Karachi.

The Financial Daily-Epaper-28-11-2010  

The Financial Daily Epaper

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