Blast In Krachi Woman dies,3 children hurt

KARACHI PAKISTAN: A woman was killed and two children suffered injuries as an explosive ripped through soldier bazaar area of the city.

Police said the explosive material, thrown by unidentified people in a garbage heap, went off at Chandni Chowk in soldier bazaar area.

Initial reports said a passerby woman was killed and two children were injured in the blast.

Rescue teams rushed the injured to Civil Hospital Karachi.

Police and law enforcement agencies arrived at the blast site and cordoned off the area.

Three killed In N Waziristan Drone Attack

MIRAN SHAH: At least 10 persons were killed and several others injured in US drone attack at a training camp in North Waziristan tribal region.

A US spy aircraft fired missiles at a training camp at Mohammedkhel mountains in North Waziristan in which  at least 10 persons were killed and several injured, sources said. Most of the persons killed in the attack said to be foreign nationals.

LHC Adjourns Hearing Of DSP Suspension Case Till 2pm

Lahore High Court has ordered IG Punjab Police to appear before it while adjourning the hearing of the case about suspension of DSP Imran Babar Jamil.

High Court’s justice Ejaz Ahmed Chaudhry heard the case. Lawyer of DSP Liaquat Ali Qureshi appealed the court that judicial inquiry instead of departmental inquiry should be held of the case because his client was not satisfied with the inquiry as he was also threatened in the meantime. Rejecting the appeal of judicial inquiry, the court ordered IG Punjab Police to present in the court at 2pm today. Talking to media after the hearing, DSP Imran Barar Jamil said that higher officials were repeatedly committing mistakes but truth will win at last and fight will be continued till restoration. He said that he is committed to command the Punjab police in future.

Kidnapped British Child Sahil Found

GUJRAT PAKISTAN :Kidnapped British Child Sahil Found

British boy in Pakistan Sahil Naqash who was kidnapped from his grandmother’s house in Jhelum was rescued near Kharian town of Punjab.

According to the details, family members of Sahil and British High Commission have confirmed the regain of the child. Sahil has been handed over to Jhelum town administration.

25 Dead In China Coal Mine Fire:Media

BEIJING China : Twenty-five people have been killed in a coal mine fire in central China, local authorities said on Tuesday, the latest deadly incident in the country’s hazardous mining industry.

The city government said the blaze in a mine in Zhengzhou, the capital of Henan province, was sparked when cables caught fire late Monday in one of the main pits.

Six miners were saved, but the rest died.

Police have detained at least three mine managers and frozen their assets and those of the facility after an initial investigation revealed the mine was operating illegally, the government said.

China’s coal mines are among the most dangerous in the world, with safety standards often ignored in the quest for profits and the drive to meet surging demand for coal — the source of about 70 percent of China’s energy.

Earlier this month, more than 30 miners were killed in a flood at a coal mine in the Inner Mongolia region in northern China.

Calvin Klein To buy Tommy Hilfiger

NEW YORK: Two American clothing labels “preppy Tommy Hilfiger and classic Calvin Klein” are coming together under one roof after Phillips-Van Heusen said it will purchase Tommy Hilfiger for about $3 billion in cash and stock.

The deal adds a prominent brand to Phillips-Van Heusen’s stable, which also includes Izod and Arrow. It’s expected to help Phillips-Van Heusen introduce some of its brands overseas, where privately held Hilfiger is strong.

Shares of Phillips-Van Heusen, which owns and markets the Calvin Klein brand, rose 10 percent during midday trading and briefly reached a 52-week high.

Phillips-Van Heusen, based in New York, said the combined company’s revenue will total about $4.6 billion.

“This transaction brings together two highly complementary companies with iconic brands,” CEO Emanuel Chirico said in a call with analysts.

About 60 percent of the combined company’s revenue will come from the U.S. and 40 percent will come from overseas, Chirico said. About 45 percent of revenue will be wholesale, 45 percent retail and 10 percent licensing.

Tommy Hilfiger will remain in his role as principal designer, setting the vision for the Tommy Hilfiger brand.

“We fully expect to maintain Tommy’s team and culture as we did in our acquisition of Calvin Klein,” Chiciro said. “Meaning all of Tommy’s existing design, marketing, sales, and other customer- and consumer-facing operations will remain in place.”

The Tommy Hilfiger brand, which became famous for its preppy clothes and built big shops next to other powerhouse designer names such as Calvin Klein and Ralph Lauren in U.S. department stores, has had rocky times. By the late 1990s, the brand lost its appeal and underwent a series of fashion makeovers to turn around sales. Department stores reduced the size of its displays.

However, under Apax’s control, Tommy Hilfiger’s business underwent a revival in U.S. sales in the U.S. as it turned back to its preppy roots in the last few years and sought to boost profitability.

In 2007, Tommy Hilfiger struck an exclusive partnership with department store operator Macy’s Inc. to sell its clothing, a move that has helped shore up business. The company’s fragrance, home furnishings, accessories and other products are still being sold at other stores as well as Macy’s. The clothing also is sold at the brand’s own stores and Web site.

Phillips-Van Heusen’s purchase of Tommy Hilfiger goes against the grain of clothing conglomerates shedding labels as they aim to be more nimble in a tough U.S. retail environment.

Liz Claiborne Inc., for example, announced a major restructuring in 2007 to focus on fewer but more powerful brands such as Juicy Couture and Lucky. In October, Claiborne announced a deal to move its namesake line to J.C. Penney Co. from Macy’s Inc. and other stores. It said it’s taking the line designed by Isaac Mizrahi to the TV shopping channel QVC.

But Phillips-Van Heusen expects to take advantage of Tommy Hilfiger’s European strength to expand its own portfolio there.

Fred Gehring will continue as CEO of Tommy Hilfiger, and also become CEO of Phillips-Van Heusen’s international operations. He will also join the Phillips-Van Heusen board of directors.

The sale does not require a shareholder vote and is expected to close in Phillips-Van Heusen’s second quarter.

PVH said it expects the deal to immediately help earnings by 20 cents to 25 cents per share, excluding one-time items, beginning in the current fiscal year ending Jan. 30, 2011.

It said the deal will help earnings by 75 cents to $1 in the fiscal year ending Jan. 29, 2012.

Phillips-Van Heusen expects to save $40 million annually as a result of the deal.

The deal includes approximately 1.9 billion euros in cash ($2.6 billion) and 276 million euros ($379.9 million) in Phillips-Van Heusen stock. Phillips-Van Heusen will also assume 100 million euros ($137.6 million) in liabilities.

A group led by the buyout firm Apax Partners acquired Tommy Hilfiger in May 2006 for about 1.2 billion euros. It said it has invested more than 400 million euros in the business, added 1,000 employees and nearly doubling the number of stores to 1,002. Apax will retain a 13 percent stake in the company.

Apax Partners also provided financing when Phillips-Van Heusen bought Calvin Klein in 2003.

Shares of Phillips-Vah Heusen rose $4.98, or 10.4 percent, to $52.70 during midday trading, after earlier reaching a 52-week high of $54.64. Its stock had traded between $16.38 and $48.78 over the past year.

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Shahbaz Sharif called on COAS General Ashfaq

Chief Minister Punjab Mian Shahbaz Sharif called on Chief of Army Staff (COAS) General Ashfaq Parvez Kayani at the Army House in Rawalpindi. Security situation prevailing in Punjab in the backdrop of last week’s serial blasts in Lahore, topped the meeting’s agenda.

Two leaders exchanged views on efforts being made by police and the army to quell militancy. CM also discussed the plan of providing counter-terrorism training to Punjab Police by Pakistan Army in his one-on-one meeting with the army chief, it was reported.
On arrival to the Islamabad Airport, CM was greeted by PML-N leaders Chaudhry Nisar and Senator Parvez Rasheed. Shahbaz said that he came to discuss the security situation in the country.

President Zardari Says Ready To Embrace Death

President Asif Ali Zardari has said that his weaknesses has proved his power.
Addressing International Conference on Global Peace and Sufism at Islamabad, the President said that he was not afraid of death, rather waiting to meet it.
He added that Benazir Bhutto in her first address said that she was not afraid of death and she was alive for death. The president said that the Sufis’ concept of love, peace tolerance be needed to transform Taliban.
He said that dictators exploit the human emotions for their vested interests, adding that even today some people do exploit religion for their interests.

Flooding Rendered Hundreds Homeless In New Jersey

Floods forced the evacuation of hundreds of New Jersey residents.
Residents could be seen walking in waist high water down flooded streets. Some people are using small boats to travel through a residential neighborhood.
In some areas, only the roofs of houses were visible.
The high waters come on the heels of heavy rain and record snowfall this winter. A ’state of emergency’ is in effect.

Swat:Militant Sommander Among 2 Killed In Clash

A key militant commander among two others killed during a clash with security forces in Swat.
On a tip off, the security forces carried out an operation at Khawazakhela and killed militant commander Naseeb Zada and two of his accomplices namely Khalid and Jaja.
Security forces have also recovered huge cache of arms from their possession. The killed militants belonged to outlawed Tehreek-i-Taliban Pakistan.

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