Man involved in Shershah scrap market carnage surrenders

Staff Report

KARACHI/SUKKUR: Lal Magsi, involved in Shershah scrap market carnage, has surrendered before the police in Sukkur on Friday.

Thirteen people including shopkeepers of the market were killed in the incident.

The FIR against 16 criminals is lodged at Pak Colony police station. Trend Pk

SBP sells T-bills of Rs 3bn

To absorb the excess liquidity out of the market, State Bank of Pakistan has sold T-bills worth Rs 3 billion through Open Market Operation.
The Central Bank received offers worth Rs 9.5 billion, of which SBP accepted the offers of Rs 3 billion on which interest rate is 11.69 percent with 6 days period. Mark-up of 11.68 percent would be given on the sold T-bills.

Bulls dominate KSE this week

Bulls dominated the Karachi Stock Market this week and the index closed with an increase of 215 points.
After several weeks, the market saw an upward rally on last two business days. Overall 45.93 crore shares were traded during the week. At the end of the week, KSE closed at 10,260 points.

Local cotton prices surge with international market

Cotton prices experience an increase after the international prices go up. For the first time the international cotton price exceed that of the local price level.Cotton price in the local market go up by 100 rupees per 40 kg to reach 7100 in Punjab and 7200 in Sindh. Cotton prices had gone up by 4.5 cents per pound in New York market. According to the market sources, the recent increase in the commodity prices is due to increased purchases by the exporters.

SBP sells T-bills of Rs 6bn

To absorb the excess liquidity out of the market, State Bank of Pakistan has sold T-bills worth Rs 6 billion through Open Market Operation.
The Central Bank received offers worth Rs 9 billion, of which SBP accepted the offers of Rs 6 billion on which interest rate is 10.95 percent with 6 days period. Mark-up of 11.68 percent would be given on the sold T-bills.

KSE plummets 435 points

Karachi Stock Exchange (KSE) remained volatile during the current week while the 100-index shed 435 points level.
Limited business activity was witnessed due to imposition of Capital Gain Tax. Trading started with positive note but selling pressure pushed the market in negative zone.
At the end of day, KSE 100-index closed at 9,823 points.

7 suspects held after firing near Data Darbar

LAHORE: Seven suspects were held when a firing incident took place in the market adjacent to the shrine of Data Ganj Bukhsh, ARY NEWS reports Sunday.

Originally posted here:
7 suspects held after firing near Data Darbar

OPEC: 2010 demand picture uncertain

CAIRO: OPEC says Europe’s debt crisis and an oversupply of crude in the market are weighing heavily on crude demand in the second half of the year.

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OPEC: 2010 demand picture uncertain

FBI arrests two over New York bomb inquiry

The US authorities investigating the attempted bombing in New York’s Times Square have arrested two people during searches in the Boston area.
We can confirm that several search warrants have been executed in the northeast in connection with the Times Square bombing investigation, FBI spokeswoman Gail Marcinkiewicz told. Two individuals encountered during the searches were taken into federal custody in connection with immigration violations, she added. Homes in New York’s Long Island were also being searched early on Thursday. Pakistani-born US citizen Faisal Shazhad, 30, has already been charged with the attempted bombing on 1 May.
Authorities say Shahzad, who lived in Connecticut prior to the bombing attempt, has waived his US legal rights and is cooperating with federal officials. In its statement on the latest arrests, the FBI said it could provide no further details as the investigation is ongoing.
But it added: This search is the product of evidence that has been gathered in the investigation subsequent to the attempted Times Square bombing and [does] not relate to any known immediate threat to the public or active plot against the United States.
Police have cordoned off a house in Watertown, Massachusetts, a Boston suburb. An agent from Immigration and Customs Enforcement is reported to have been among those outside the Watertown house. Agents have also recovered a Honda car from a Mobil petrol station on Harvard Street in Brookline, Massachusetts. The vehicle is reportedly linked to the address in Watertown, Massachusetts.
Justice department spokesman Dean Boyd said the searches were the result of evidence collected during a 13-day investigation. Shazhad has told officials he acted alone. But investigators have uncovered a possible link over the attempted bombing to the Pakistani Taliban and a Kashmiri Islamist group.
The Pakistani Taliban claimed responsibility for the failed attempt in Times Square. If this claim is true, the attempt would be the group’s first act in the United States.

SC calls Babar Awan in NRO implementation case

Supreme Court has summoned Minister of Law Babar Awan as the court adjourned the hearing of NRO verdict implementation case till May 25 on Friday.
Earlier during the day the Supreme Court resumed the hearing of the case today regarding the implementation of the courts verdict on the National Reconciliation Ordinance (NRO). The bench expressed dismay over the absence of Law Secretary Justice (r) Muhammad Aquil Mirza whose resignation was accepted by the government after the court proceedings from the court.
Attorney-General Anwarul Haq informed the court that Law Secretary Justice (retd.) Aqil Mirza could not attend the hearings as he had submitted his resignation. The court inquired whether the government had accepted his resignation and the AG replied that the government was in the process to formally accept his resignation. At that, the Supreme Court said this meant that Aqil Mirza was still the Law Secretary.
AG also informed the court that Aquil Mirza is being treated in Lahore. Additional Attorney General KK Aga gave an investigative report consisting of 90 pages against former Additional DG Ahmad Riaz Sheikh.

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