Torrential rains affect millions in Sindh

BADIN/NAWABSHAH: Unending wave of torrential rains have devastated widespread areas of interior Sindh.

Hundreds of villages of Badin, Naushero Feroze, Nawabshah and Sanghar are under water, leaving million of people homeless.

Flood victims are crying for help but the administration seems to be unmoved by their miseries.

As many as 321 villages, including Khadim Chandio, Hashim Phal, Jan Muhammad Barohi, Panhal Faqir and Muhammad Changal Dehri, have been inundated in Naushero Feroze.

Hundreds of homes have either collapsed or damaged while thousands are without shelter. Thousands of acres of ready crops are faced with destruction.

Nawabshah has also suffered huge losses due to flash floods. More than 60 villages have been affected. Thousands of homeless people are lying under open sky without any help.

In Sanghar, several areas of Tando Adam, Shahdadpur, Ali Sanjhoro and Khipr Shah are faced with devastation. The devastation has forced thousands to migrate to other areas. TrendPK

Bomb victims stage protest against govt’s apathy

Staff Report

KARACHI: Residents of houses destroyed by yesterday’s truck bomb on CID building staged a demonstration against the government’s lethargic response about their losses.

The powerful blast not only devastated the CID building, it also damaged several nearby buildings and houses.

Enraged protesters said the government has failed to make any contact with them.

“We have become homeless and are sitting in the open,” a protestor told Trend Pk.

The protestors further said that top government officials, who are coming to visit the affected buildings, have made no efforts to compensate them. Trend Pk

KP govt. bans rallies in Kissa Khwani Bazaar

Staff Report

PESHAWAR: The Khyber Pakhtunkhwa government on Tuesday put a ban on holding public rallies and protests in the historical Kissa Khwani Bazaar located in the heart of the city of Peshawar.

Local traders today met senior minister Bashir Bilour and informed him about the losses they had to suffer due to recent terrorist attacks in the historical bazaar.

Bilour said that the provincial government had accepted the traders’ demands to ban rallies and demonstrations in Kissa Khwani Bazaar. SAMAA

Bears dominate KSE; Index slips to 10050 points

KARACHI: The local equities market remained in the grips of bears on Wednesday and the benchmark KSE-100 Index shed 32 points to finish the day at 10,050.

Today’s trade began with red numbers and remained dominated by bears throughout the session. At one stage the Index was seen floating at its intra-day low of 9,938 points. However, buying at dips came from financial institutions, trimming the losses and pushing the Index up to finish above 10,000 level.

The market turnover was recorded at 110 million shares with NIB bank making it to the top of the list of volume leaders at Rs3.61, down by paisas 14.

On the other hand, KSE-30 Index inched up by one point to close at 10,182.

fiat chrysler

Italian car maker Fiat has reported further losses despite the recent recovery in the car market.

The company said it made a loss of 25m euros (£21.7m; $33.4m) for the first quarter of the year.

Meanwhile its US subsidiary Chrysler lost a further $197m (£128m) – adding to the massive $3.8bn it lost following bankruptcy last year.

Fiat is due to outline a new five-year business plan later, outlining closer integration with Chrysler.

Despite the losses, Fiat said its sales – which include trucks and farming equipment alongside cars – were up nearly 15% on the same period last year.

Car sales alone saw a 22% increase, thanks in part to the continuing impact of Europe’s car scrappage schemes.

But Fiat said it expected to be hit hard by the winding up of such schemes.

The end of the German scrappage scheme has already seen sales drop 73%, it said.

Fiat’s chief executive Sergio Marchionne also sought to sound optimistic over the prospects for Chrysler despite the heavy losses.

He pointed out that Chrysler actually made a profit of $143m for the first quarter, if tax and one-off costs were disregarded.

The US-brand was also seeing increased revenues, he said.

Rivals profit

There was better news for rival European car firm Volkswagen, however, which reported profits of 473m euros for the first three months of 2010 – nearly double the profits recorded a year earlier.

VW said sales of its cars – which include the Seat and Audi brands – rose 19%.

Meanwhile French car maker Peugeot Citroen said its sales jumped 27.5% in the first quarter, and said it hoped to see a positive impact on profits.

But the company said it still expected the European car market to decline by 9% this year.

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Job Losses To Bottom Out In 1Q:Economic Survey

November 23, 2009 by Trend PK  
Filed under World News

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Full Story And Original Content. TrendPK.com Job Losses To Bottom Out In 1Q:Economic Survey:Economists expect the joblessness that has weighed down the nation’s economic recovery will start to slowly abate in 2010, but they predict consumers will continue to keep a tight rein on spending, according to a new survey. While signs have pointed to the end

Full Story And Original Content. TrendPK.com Job Losses To Bottom Out In 1Q:Economic Survey:Economists expect the joblessness that has weighed down the nation’s economic recovery will start to slowly abate in 2010, but they predict consumers will continue to keep a tight rein on spending, according to a new survey.
While signs have pointed to the end [...]

Tags: Business, down-the-nation, economic-survey, joblessness, losses, nation, slowly-abate, survey, the-end, the-nation, tight-rein, weighed-down, will-continue, will-start