Coalition partners accompany Gilani to SC

 

Pakistan People’s Party core committee and government’s coalition partners held separate meetings in Islamabad in connection with Prime Minister Yousuf Raza Gilani’s appearance in the Supreme Court in contempt case.

 

They observed that Supreme Court building came under PML-N workers attack during Nawaz Sharif tenure but no one was convicted on contempt carges. They were of the view that Gilani might be first prime minister of Pakistan to be convicted on the contempt of court charges.

 

The meetings also discussed the options that in case of sentence, the notification to de-seat Prime Minister would be sent to Election Commission via Speaker National Assembly.

 

According to a core committee member, Supreme Court has issued 20 to 22 passes and some cabinet ministers and leaders of the coalition parties will accompany Prime Minister Gilani to the court.
 

Asian stock falls on China inflation, Greece delays

 

Asian markets were mostly lower Thursday after marathon talks over Greece s massive debt ended without firm agreement as China s annual inflation rate hit a three-month high.

 

Tokyo dipped 0.38 percent, Sydney was down 0.40 percent and Seoul lost 0.64 percent in morning trade, after closing at a half-year high on Wednesday.

 

Hong Kong, which also reached a six-month high on Wednesday s Asian market rally, lost 0.51 percent while Shanghai shares were flat, up 0.02 percent.

 

Greek coalition leaders ended lengthy talks on austerity measures Wednesday, with one remaining point of disagreement — pensions cuts — keeping alive fears it may default, a result that would send shockwaves across the eurozone and beyond.

 

Agreement on new measures demanded by the European Union, the International Monetary Fund and the European Central Bank and on a debt writedown by banks would open the way for a second rescue package for Greece, and close a key chapter in the eurozone s debt crisis.

 

The money is vital to prevent Greece from defaulting on 14.5 billion euros ($19.2 billion) worth of payments to bond holders, due next month, as the country struggles under a 350-billion euro debt mountain.

 

Investors are now awaiting meetings of the European Central Bank and Bank of England on Thursday, with the focus firmly on what stand they will take on further stimulus for slowing regional economies.

 

China said annual inflation hit 4.5 percent in January, its highest level in three months, after slowing to 4.1 percent in December as government efforts to curb bank lending and surging property prices took effect.

 

The rise was mainly attributed to the Lunar New Year holiday last month.

 

Retail spending typically soars during the festival, the most important celebration in the Chinese calendar, as consumers splash out on food, wine and gifts for family and friends.

 

“The CPI (inflation) numbers will have a negative effect on the market. Continued high inflation means policy will continue to be tighter than the market had expected,” Chen Wei, an analyst at China Minzu Securities, told Dow Jones Newswires.

 

Before January, China s inflation had eased for five straight months after hitting a more than three-year high of 6.5 percent in July and analysts said the downward trend would likely resume in February as the economy slowed.

 

On Wall Street, the Dow Jones Industrial Average edged up 0.04 percent by the close Wednesday while the broad-based S&P 500 rose 0.22 percent and the tech heavy Nasdaq Composite added 0.41 percent.

 

The euro was under pressure in early Asian trade, hitting $1.3215 against the dollar before gaining ground to change hands at $1.3251 and 102.22 yen, from $1.3260 and 102.14 yen in New York late Wednesday.

 

The dollar was at 77.13 yen, edging up from 77.03 yen in New York.

 

New York s main oil contract, West Texas Intermediate (WTI) light sweet crude for delivery in March, gained 22 cents to $98.93 a barrel and Brent North Sea crude for March was up 20 cents to $117.40 in morning trade.

 

Gold was at $1,732.40 an ounce at 0350 GMT, little changed from New York on Wednesday.
 

Crude prices higher in Asian trade

 

Crude prices edged higher in Asian trade Thursday on hopes that protracted talks over a Greek debt deal were set for a conclusion, analysts said.

 

New York s main contract, West Texas Intermediate (WTI) light sweet crude for delivery in March, gained 18 cents to $98.89 a barrel and Brent North Sea crude for March was up 21 cents to $117.41 in the afternoon.

 

“Crude futures rose… on hopes that a deal to bail out debt-strapped Greece was near,” said Phillip Futures in a commentary.

 

Greek government coalition talks on austerity measures ended on Wednesday with the prime minister s office saying one remaining point of disagreement remained — cuts to pensions. It added that it hoped for a complete deal to be reached by Thursday evening.

 

Representatives of the European Union, the International Monetary Fund and the European Central Bank, have been organising massive bailout loans for the debt-ridden country.

 

Greece desperately requires emergency funds from its eurozone partners to avoid defaulting on 14.5 billion euros ($19.2 billion) worth of payments to bond holders due on March 20.

 

Other analysts however cautioned against raising expectations too high.

 

“At present, we await the outcome of a Greek meeting today but I wouldn t suggest anyone clears their diary for this,” Justin Harper, head of research at IG Markets Singapore, told AFP.

 

“We ve seen too many meetings and deadlines postponed, moved and cancelled altogether for people to get too worked up about this latest  line in the sand ,” he added.

 

Traders were also closely watching developments in Iran, where lawmakers backed unspecified “retaliatory measures” prepared by Tehran s oil and trade ministries against a European oil embargo.

 

“In our view, unless Iran is able to secure an alternative buyer, the decision is likely to remain in the form of rhetoric and a threat,” Barclays Capital said in a commentary.

 

However the situation surrounding the Islamic republic remained tense, “with the risk of miscalculation resulting in a messy military endgame rising”, it added.

 

Western countries have accused Iran of seeking to develop nuclear weapons but Tehran has insisted its atomic programme is for civilian purposes.

Fazal assures Senate, general polls in 2012

Talking to the media, after attending provincial and parliamentary party meetings, Jamiat Ulema-e-Islam – Fazal (JUI-F) Ameer Maulana Fazal-ur-Rehman said that JUI and ANP contacted each other on provincial level to stop horse trading and seat to seat adjustment in Senate elections.

 

Fazal said that he has full trust on his members therefore no need to take their oath on Holy Quran. They will cast their vote according to party decision, he said.

 

JUI-F chief said that religious parties are ready to restore MMA without Jamait-e-Islami, however MMA s restoration will be after convincing JI.

 

He also announced to hold Islam Zindabad Conference in Peshawar on March 25.
 

PM calls key meeting of coalition partners

 

Prime Minister Syed Yousaf Raza Gilani has convened an emergency meeting in which coalition parties will be taken into confidence over the Supreme Court’s decision to indict Gilani on February 13 in court contempt notice.

 

All coalition partners including Senior Federal Minister Pervaiz Elahi have postponed all their meetings and are arriving in Islamabad.

 

The meeting will start at 7pm and will discuss the current situation including filing the review petition.  

 

UN presses Mideast rivals back to talks

 

UN leader Ban Ki-moon was on Tuesday meeting with Jordan s King Abdullah II and senior officials at the start of a Middle East peace mission to raise pressure on Israel and the Palestinians to resume talks.

 

The UN secretary general was holding discussions with Prime Minister Awn Khasawneh and Foreign Minister Nasser Judeh, including about informal Israeli-Palestinian talks that Jordan hosted this month, officials said.

 

On Wednesday, he will hold key meetings with Israeli Prime Minister Benjamin Netanyahu in Jerusalem and and Palestinian president Mahmud Abbas in the West Bank town of Ramallah, they said.

 

Direct Israeli-Palestinian negotiations have been frozen since September 2010. The two sides had contacts in Amman this month but no breakthrough has been reported.

 

“My visit comes at an important moment,” Ban told a news conference in New York last week when he announced the trip. “I will be there to encourage both sides to engage in earnest and create a positive atmosphere for moving forward.”

 

Ban is also expected to meet Israeli President Shimon Peres and other top officials from both sides during his stay, UN officials said.

 

EU foreign policy chief Catherine Ashton went to Jerusalem and Ramallah last week to press Netanyahu and Abbas to pursue the contacts. The United States has also been putting diplomatic pressure on the two sides, diplomats said.

 

The United Nations is part of the diplomatic Quartet that has been seeking to broker a Middle East peace deal, along with the European Union, Russia and the United States.

 

The UN secretary general met with the Quartet envoy, Tony Blair, the former British prime minister, at the Davos forum in Switzerland last week, a UN spokesman said. Blair is believed to be back in Jerusalem.

 

The Palestinians ended direct talks in 2010 in protest at Israel s refusal to extend a moratorium on settlement building in the occupied territories.

 

While the international powers have all condemned Israel s heightened settlement drive, the deadlock has also been increased by the Palestinians  bid to gain international recognition elsewhere, including with an application for full UN membership.

 

Palestinian and Israeli negotiators held five rounds of exploratory talks in Amman this month on whether there is a route back to direct negotiations.

 

On Monday, the Palestine Liberation Organisation blamed Israel for “the failure” of the preliminary talks.

 

“In light of the results of the Amman meetings, the PLO executive committee considers the Israeli government and it alone to be entirely responsible for their failure,” Yasser Abed Rabbo, secretary general of the Palestinian umbrella organisation, said in a statement.

 

“These meetings revealed Israel s insistence to continue settlement activities and its refusal of a two-state solution on the basis of 1967 borders,” the statement said.

 

Abbas has been consulting with Palestinian leaders. He said he will also hold contacts with an Arab League committee on the Middle East conflict before deciding his next move.

 

“There are pressures from many sides, prodding them to return to talks. But there are also elements from many sides — including events in Syria — which are holding them back,” one official close to the Quartet contacts with the Israelis and Palestinians told AFP.

 

Asked on Sunday about the prospects of renewed peace talks, the Israeli prime minister said: “The signs are not particularly propitious.” Israel says however that the Amman meetings should continue.

 

The diplomatic Quartet called on October 26 for both sides to present comprehensive proposals on territory and security within three months, as a first step towards resuming direct talks.

 

Diplomats said the Quartet s main concern now is to make sure the unofficial contacts do not end.

PM leaves for Pakistan after attending World Economic Forum

 

Prime Minister Syed Yousuf Raza Gilani left for Pakistan on Saturday after attending the annual World Economic Forum held here.

 

Besides participating in various sessions of the World Economic Forum, the Prime Minister during his four-day visit also held bilateral meetings with a number of world leaders, including the presidents of Swiss Federation and Azerbaijan, and the prime ministers of Denmark and Thailand.

 

He also held meetings with chief executives of various international organizations, including Director General of World Health Organization (WHO), Executive Chairman of WEF Klaus Schwab and CEO of Microsoft Bill Gates.

 

The Prime Minister besides having a business luncheon meeting with heads and representatives of the international business houses to woo them to invest in Pakistan, also held media interactions.
 

Has Russell Brand already moved on from Katy Perry?

TrendPK.com: It’s still unclear what exactly went on with the split between Russell Brand and Katy Perry, but if rumors are to be believed, he may have already moved on.

It is being rumored that Brand has already moved on with a new woman who told a friend of hers which led to it getting back to Perry, states UsMagazine.com. However, it is rumored that she isn’t the only woman he has made time for since his split.

Brand has allegedly been keeping company with a few women and even reportedly talking poorly about his ex to them.

Brand and Perry split at the end of last year when he filed for divorce.

Do you think their divorce is going to be messy?

Follow Hollywood News on Twitter for up-to-date news information.

Hollywood News, Hollywood Awards, Awards,  Movies, News, Award News, Breaking News, Entertainment News, Movie News, Music News

Image by PR Photos

Mirzas statement to trigger violence in Sindh, says MQM

 The Coordination Committee meetings of Muttahida Qaumi Movement (MQM) were held in Karachi and London to discuss the situation arising after the press conference of former provincial senior minister, Dr Zulfiqar Mirza.

In the joint statement after the meetings Coordination Committee sources said that Zulfiqar Mirza was himself involved in target killings in Karachi.

The Coordination Committee has also asked Pakistan People’s Party to clears its position in this regard.

The MQM condemned Zulfiqar Mirza’s allegations and said why kidnapping for ransom and ‘Bhatta Mafia’ activities started soon after his appointment as Sindh Interior Minister.

The MQM also alleged that Mirza’s allegations would add fuel to the fire and trigger violence in Karachi. The Coordination Committee said that Mirza was directly involved in target killing in Karachi.

Finance Minister Sheikh upbeat as PDF begins

ISLAMABAD, News Trends: Minister for Finance and Economic Affairs Dr. Abdul Hafeez Sheikh said the government wanted to turn the calamity into an opportunity through reconstruction after the floods.

Minister for Finance and Economic Affairs Dr. Abdul Hafeez Sheikh and Punjab’s minister Zulfiqar Ali Khosa are jointly chairing the the two-day Pakistan Development Forum (PDF) meeting that began here today (Sunday) and is currently underway with an agenda of focusing and sharing with the participants and development partners the future development vision of Pakistan for the prosperity of its people.

Opening Pakistan Development Forum (PDF), Dr Sheikh welcomed the delegations from donor countries and organizations and representatives of other donor agencies for participating in the Forum.

Addressing Pakistan Development Forum (PDF), the Finance Minister described 18th Amendment and NFC Award as his government’s big achievements.

“We are holding the Forum in 2010, as the last PDF was held in 2007”, Dr. Abdul Hafeez said.

Punjab’s senior minister Sardar Zulfiqar Khosa said that recent flood had ravaged south Punjab, causing losses worth $3.20 billion. “No government is in a position to undertake reconstruction and rehabilitation work alone,” he said.

Khosa said Punjab needed 900 million dollars to establish model villages after floods; of them, 700 million dollars are needed for large model villages and $200 million for the smaller ones.

He further informed that the province is bettering taxing system of agricultural income, adding the property tax system improved. The Senior Minister of Punjab said his province has curtailed current expenditures by Rs3 billion.

Khyber Pakhtunkhwa’s Governor Owais Ghani said his provinces needs Rs107 billions during the next 18 months for reconstruction, adding another Rs66 billion are required for social sector and Rs41 billion for infrastructure.

Khyber Pakhtunkhwa Chief Minister Ameer Haider Khan Hoti said his government doled out Rs18 billion from its funds for infrastructure, adding it is not flood alone but also terrorism that dealt a blow to province’s economy.

Additional Chief Secretary Fata Habibullah Khan told the short and medium-term development projects worth $2 billion would be commenced during next nine years.

Ishaq Dar of Pakistan Muslim League (PML-N), Punjab Finanace Minister Tanveer Ashraf Kaira and Minister of State for Finance and Revenue Hina Rabbani Khar are at the meeting.

The Chief Ministers of the provinces will also brief the Forum about flood-spawned losses and subsequent rehabilitation. The participating donors would be apprised of Pakistan’s need worth $5 billion for rehabilitation after the flood.

Delegations from 30 countries and 264 representatives from donor countries, five major lending and aid institutions are participating in the meeting. US, United Kingdom and Japan have made sure minister-level participation. The International Monetary Fund, World Bank, Asian Development Bank and the Islamic Development Bank are also at the meetings.

Earlier talking, the Finance Minister Sheikh said, “High level local and international participation including US Special envoy for Afghanistan and Pakistan Richard Holbrooke, Vice President of World Bank and ADB, UK Minister for International development and senior officials of the IMF are expected in the forum.”

Dr. Hafeez said further said that the main focus of the PDF is on the reforms agenda of Government in social, economic and government sectors, both in the short and medium term.

The PDF, he said is sometimes misunderstood as a pledging forum for donors.

However, he said it is actually an opportunity for the Government to chart out its future economic & social strategy and have a dialogue with the donors. The donors, as a result of this dialogue, often re-align their strategies to plan and deliver future economic assistance to Pakistan.

Special US representative for Pakistan and Afghanistan Richard Holbrooke, the British government’s Secretary for International Aid, Andrew Mitchell, World Bank and Asian Development Bank vice-presidents and IMF and UN representatives also will address the forum tomorrow.

Foreign Minister Shah Mehmood Qureshi will preside over the tomorrow session.

Next Page »