Israeli airstrike kills Palestinian in Gaza
A Palestinian in Gaza died early Sunday after being wounded in a series of retaliatory Israeli airstrikes, Gaza medical sources said.
The fatality was identified as Abdel Karim Zatuniya, an elderly man serving as a guard at the barracks in the Zeitun area, south-east of Gaza city, who was wounded in an airstrike late Saturday night in which four other people were wounded. No militant faction in Gaza announced Zatuniya a member.
Three other Saturday night airstrikes — near the Karni crossing east of Gaza city, east of Khan Younis and at an empty house in Rafah — resulted in no further casualties.
The Israeli military confirmed launching the strikes, and in a statement early Sunday said its aircraft “targeted a terror tunnel and a weapon manufacturing facility in the northern Gaza Strip, a terror tunnel in the central Gaza Strip and an additional terror tunnel in the southern Gaza Strip,” noting direct hits.
“These sites were targeted in response to the rocket fire on communities in southern Israel,” the statement read, noting that a Friday night rocket from Gaza that struck between two houses in the Hof Ashkelon area had lightly injured an Israeli woman.
Earlier Saturday night, a rocket fired by Palestinian militants from the Gaza Strip hit southern Israel causing no casualties or damage, an Israeli police spokesman said.
“A rocket was fired from the Gaza Strip at the Eshkol region. It landed in an open area without causing any damage or injuries,” Micky Rosenfeld told AFP.
Speaking in Tehran on Saturday, Hamas prime minister of Gaza Ismail Haniya reiterated his movement s long-held stance it “will never recognise Israel,” as Palestinian efforts to form a temporary unity government headed by Palestinian Authority president Mahmud Abbas continue.
Israel rejects efforts by Hamas to link up with Fatah, and views Hamas as a terrorist organisation and Iran as its sponsor and weapon supplier.
“The resistance will continue until all Palestinian land, including Al-Quds (Jerusalem), has been liberated and all the refugees have returned,” Haniya said.
FY12 growth estimated at 6.9 pct, slowest in 3 years
February 7, 2012 by Trend PK
Filed under World News
NEW DEHLI; India’s economic growth may dip below 7 percent in the current fiscal year, the slowest pace since the 2008 financial crisis, restrained by the Reserve Bank’s inflation-fighting campaign and government gridlock.
The government forecast 6.9 percent annual growth for the fiscal year that ends in March, a tad below the 7 percent to 7.5 percent growth predicted by several government officials.
It would mark a sharp decline from the prior year’s 8.4 percent growth rate, and a reversal of fortune for a country that until recently aspired to double-digit growth like China.
The Indian economy has slowed as the euro zone crisis combined with tight monetary policy and political paralysis at home have discouraged investment.
There is little hope for a quick turnaround. Although the Reserve Bank of India is widely expected to begin cutting interest rates after an aggressive 18-month tightening campaign came to an end in October, domestic growth still looks shaky and the global outlook uncertain.
Inflation also remains elevated, making it tougher for the central bank to prop up growth.
“We are not expecting any sudden reversal in economic growth. Global growth remains weak. Things on the domestic front have not improved either,” said Indranil Pan, chief economist at Kotak Mahindra Bank, who expects the economy to grow 6.7 percent this fiscal year and 6.6 percent in the following year.
Unlike most of its Asian peers, India runs fiscal and current account deficits, leaving it reliant on notoriously fickle foreign investors for financing. Investment has been flowing back into India so far in 2012, after outflows in 2011, but that could change if the euro zone crisis deteriorates.
The government’s advance estimate for the fiscal year 2011/12 shows that farm output is expected to grow 2.5 percent, while the manufacturing sector is likely to grow 3.9 percent.
Indian shares and bonds remained unchanged following the release of the growth estimate.
The RBI last month cut the current fiscal year growth forecast to 7 percent from 7.6 percent and warned of rising risks to economic growth.
“From the monetary policy point of view, signals are very clear that policy will remain accommodative,” said Sujan Hajra, chief economist at Anand Rathi Securities
He predicted the central bank would cut both interest rates and banks’ reserve requirements by as much as one full percentage point by October.
With inflation showing signs of finally easing and risks to growth on the rise the RBI is widely expected to cut interest rates by the end of June, if not sooner. It has already signalled it is finished raising rates after 13 increases between March 2010 and October 2011.
Headline inflation slowed down to a two-year low of 7.47 percent in December, but that was due almost entirely to a drop in food inflation that is widely seen as unsustainable.
Also, non-food manufactured inflation at 7.7 percent in December remained way above the central bank’s comfort zone. The next monetary policy review is due on March 15.
“We don’t think the RBI will cut rates in March. They will wait for the federal budget that is scheduled in mid-March,” said Pan, who expects a 25 basis point rate cut in April.
In his January policy review, the RBI governor flagged the inflationary risks stemming from the government’s failure to contain its fiscal deficit and had said a lack of credible fiscal consolidation would constrain him from lowering rates.
He had urged the government to use the March budget to signal fiscal consolidation. AGENCIES
India Reliance Industries quarterly profit jumps 28 percent
October 31, 2010 by Trend PK
Filed under World News
MUMBAI: India’s largest private sector firm Reliance Industries reported a 28 percent rise in quarterly net profit Saturday, boosted by earnings from refining crude and higher gas output.
The oil and petrochemical giant said net profit for the three months to September climbed to 49.23 billion rupees (1.03 billion dollars) from 38.52 billion rupees in the same period last year.
The figure, which was broadly in line with analysts’ estimates, was the highest ever posted by Reliance during a three-month period.
“Improved refining margins and high operating rates at all our manufacturing facilities led to a record quarter,” said chairman Mukesh Ambani, India’s richest man and the world’s fourth wealthiest, according to Forbes magazine.
The conglomerate said sales rose 23 percent to 574.79 billion rupees (13.5 billion dollars)
The company, whose
US Company introduces i-pod sized computer
A US based computer manufacturing company has introduced a computer of the size of an i-pod.
According to the American media, the tablet-shaped computer is equipped with touch-screen technology. The screen of Sysstat 500 is 18.9 inches wide with two built-in cameras, including a still camera and a video camera. According to the manufacturing company Sysstat 500 would be liked in the market. This computer could also be attached with internet however at the moment it could not be attached with any mobile.
Monetary Police for current fiscal today
KARACHI: The central bank’s decision, regarding the key policy rate on Friday, may lean both ways as the anticipated rise in inflation would force the policymakers to tighten the monetary stance, while improvement in the economic indicators may provide room for relaxing the discount rate, analysts said on Thursday.
They, however, are unanimous that the State Bank of Pakistan (SBP) would keep the policy rate unchanged at 12.5 percent due to the prevailing economic conditions.
If the central bank kept the interest rate unchanged, it would be the fourth time in a row. The last change in the monetary policy stance was witnessed when the key rate was cut by 50 basis points to 12.5 percent in November 2009.
In its last announcement in May, the bank kept the discount rate unchanged on the basis that the economy was recovering, but lacked the necessary infrastructure and sufficient macroeconomic stability to build on the momentum.
“Stabilisation efforts over the last one-and-a-half-year have brought dividends in the shape of contraction in the external current account deficit, containment of excessive money growth and reduction in inflation,” the central bank said.
“However, worsening power crisis, which has severely hampered the economic activity and fiscal weaknesses continue to impede sustainable recovery and comprehensive macroeconomic stability. At the same time, inflation has started increasing gradually,” it said.
Experts said that the current scenario is similar to the past and the State Bank would not have room to increase or decrease the interest rate.
“The rate increase would have a negative impact on the manufacturing side and discourage the private sector to grow,” said Ahsan Mehanti, Director, Arif Habib Investments.
“On the other side, the SBP would be cautious about rising prices due to the advent of the holy month of Ramazan and threat of gradual increase in the international oil prices,” he said.
The 12-month headline inflation rose by 11.73 percent by the end of June, which was two percent higher than the actual government estimates, but lower than the SBP prediction, which forecast the inflation to be around 12-12.50 percent during the year.
“Monetary growth is suggesting that the SBP may maintain the status quo,” said Farhan Bashir Khan, research analyst at InvestCap Research.
The changes in the current account would have a direct impact on M2 growth rate (through increase in net foreign assets). The impact was visible in FY10 as the net foreign assets registered an improvement of 29.4 percent year-on-year (Y-o-Y) against the decline of 22.5 percent witnessed in FY09, he said.
“On the domestic front, the situation worsened to some extent. The government borrowing for the budgetary support increased by 19.9 percent Y-o-Y during FY10, while crowding out of the private credit became further prominent as the share of credit to the private sector diminished to 59 percent of the total net domestic assets (NDA) against 63 percent in FY09,” he said.
Higher domestic financing envisioned in the Budget FY11 should continue to divert chunk of the incremental money supply towards the government. This would rule out the possibility of a rate cut.
“However, we also cannot subscribe to a rate increase as it would severely hurt improving trend of the private credit, without achieving its critical objective of curtailing inflation,” the analyst said.
In the last country report on Pakistan released in June, the International Monetary Fund (IMF) suggested the central bank that the monetary policy should be geared at restoring the trend towards price stability.
“Inflation must not become entrenched at the current levels as it will increase poverty, impede economic recovery and harm long-term growth prospects,” the IMF said.
“The SBP should raise the policy rate promptly if inflation pressures do not abate as expected,” it said.
In the last four monetary policy decisions, the SBP tried to balance price stability with the need to support a nascent recovery. After reducing discount rate in November 2009, the central bank kept it unchanged in view of sticky core inflation, uncertain fiscal outlook with greater domestic financing needs to compensate for external financing shortfalls and expected inflationary pressure from higher energy and food price.
In the following announcement in March, it also kept the discount rate unchanged, trying to strike a balance between the imperative of reducing inflation, ensuring financial stability and supporting the economic recovery.
Historically, the policy rates started picking up due to fragile economic conditions in FY07 as the SBP increased the discount rate from 10 percent to 13 percent in July-December 2008.
The economic deterioration forced the central bank to further increase it by 200 basis points to 15 percent in an interim announcement in November 2008. It was the month, when the country approached the IMF for an emergency assistance due to adverse security developments, large exogenous price shocks, including oil and food, global financial turmoil and policy inaction during the political transition to the new government.
The GDP growth slowed down to 5.8 percent in FY08 and inflation growth hit a record high of 25 percent.
The IMF approved $7.6 billion for economic recovery, which was augmented to $11.3 billion in August 2009.
China may boost missiles aimed at Taiwan to 1,900: official
July 21, 2010 by Trend PK
Filed under World News
TAIPEI: China could raise the number of missiles aimed at Taiwan to 1,900 by the end of the year despite warming ties between the former bitter rivals, according to the island”s deputy defence minister.
Military experts estimate that the PLA currently has more than 1,600 missiles aimed at the island. But recent media reports have said the People”s Liberation Army may boost the number of short-range ballistic and cruise missiles facing Taiwan to 1,960 before the year”s end.
“Judging from their manufacturing capacities, the PLA could increase to that number of missiles targeting Taiwan before the year”s end,” Andrew Yang, an academic-turned deputy defence minister, told foreign media.
Although tensions across the Taiwan Strait have eased since President Ma Ying-jeou”s China-friendly administration came to power in 2008, “Beijing has never renounced the use of force against Taipei,” Yang warned.
Saudi King unveils first Saudi-made car
JEDDAH: Custodian of the Two Holy Mosques King Abdullah on Monday unveiled Saudi Arabia”s first car, which was manufactured by engineers at King Saud University (KSU) in Riyadh. The car is named Ghazal 1.
Higher Education Minister Khaled Al-Anqari thanked King Abdullah for his continuous support of the Kingdom”s higher education, adding that this has resulted in the manufacturing of the new car. “This is the fruit of your support,” Al-Anqari told the king, adding that students of the university”s Faculty of Engineering had been working on the project for the last two years.
“What is achieved today is a clear proof of the ability of Saudi youth to make innovations and inventions … if they are provided with adequate facilities and given opportunities,” the minister said.
He described the making of Ghazal 1 as a turning point in the Kingdom. “It also shows that we have capable people who can transform ideas into products of high economic value,” he said. “This is a national strategic product and KSU holds its patent rights and intellectual property rights,” he added.
Professor Said Darwish of KSU”s industrial engineering department said the car model was based on tests of category development (wheelbase) in collaboration with several major companies such as Motorola, Mercedes and Magna Canada.
The students were given full freedom to design. Ghazal 1 is 4.8 meters long with a width of about 1.9 meters.
“This car is designed for use on all roads and terrain, even in difficult conditions, while the car interior is designed to provide comfort for passengers,” Darwish said.
canada fire
May 31, 2010 by Trend PK
Filed under World News
The Canada Fire Equipment is an authorized dealer of AMEREX Corporation, worldwide leaders in the manufacturing of fire extinguishers (ISO 9000, ISO 9002) and other fire fighting systems.
The Canadian Fire Fighters Museum’s mission is to tell the story of fire fighting in Canada on a national basis, circa 1759 to the present. The Canadian Fire Fighters Museum, established in Port Hope, Ontario in 1984, will collect, preserve, research and display fire apparatus, fire equipment, photographs and related archival materials to illustrate the historical development of the fire service in Canada.Native affairs Minister Pierre Corbeil is predicting that the fires will last quite some time, as the weather forecast shows hot temperatures and little rain for the next few days in the area.
Here are links to some of the top websites following the Quebec fires, so you can stay updated on the emergency situation:
tylenol recall 2010
May 1, 2010 by Trend PK
Filed under World News
Tylenol Recall 2010 by McNeil Consumer Healthcare – The McNeil Consumer Healthcare has recently issued an voluntary recall of some children’s medicine that created a popularity and sensation among parents and the medical community in particular.
They were referring to over-the-counter medicines, liquid or in tablets, that are affected by the said recall of the manufacturing company. As specify in the recall, the popular medicine Tylenol and Motrin fall under the recall.
The company has issued a statement that they are not recalling the products because they received complaints from the consumers of the side effects brought by such medicines but the said products fail to meet the desired quality standars of the company. The company has also warned the parents to refrain from using the recalled medicines for some time.
Tylenol recalled by the company are at present sold and used in nations like Kuwait, Jamaica, Puerto Rico, Canada, and Dubai along with the USA. This medicine is used in a wide number of households in these countries.
Bugatti Veyron Price Feast For Hits the City
Bugatti Veyron EB 16.4 is the latest version of a mid-engine, full-sized grand tourer developed by German automaker Volkswagen. who won the 24 Hours of Le Mans in 1939 while racing for the original Bugatti firm. Bugatti Veyron FBG Par Hermesinamed Rue du Faubourg Saint-Honore, the street where the number 24 contains Hermès’ headquarters.
The Show, which opened in New China International Exhibition Center on Monday, runs until May 2 Bugatti Veyron EB 16.4 is the latest version of a mid-engine. Bugatti Veyron EB 16.4, the latest version of a mid-engine in full size grand tourer developed by German automaker Volkswagen and built. Jean in Molsheim, and if the manufacturing and development is often credited to Karl Ferdinand Piech.
The interior is made of leather and Hermes have new internal door handles recalls handle. The interior is finished in light orange. The Sang Noir celebrates the original Bugatti Atlantique 57S of the 1930s. The middle section between the two wings on the cap was extended. The rear airscoops are colored in the same night of blue liquid integrate into the overall design philosophy of this unique model.
The Veyron has a 8.0-liter, 1.8 Imp gal, 2.1 U.S. gal W16 engine sixteen cylinders in two banks eight cylinders. This gives the car a power to weight ratio, according to Volkswagen 1001 metric horsepower. he had been confirmed by Bugatti officials actually be conservative, the real total 1020 hp or more.
