Death toll rises to 55 in Egypt road accident

DAHRUT: An Egyptian bus crowded with passengers, many of them students, veered off the road into a canal south of Cairo on Sunday, ...Full Story

India industrial growth plunges to 15-year low

NEW DELHI: India's industrial growth unexpectedly shrank for the first time in 15 years, data showed Friday, hit by the widening g ...Full Story

Export refinance volume drops by 26pc

KARACHI: In the wake of providing 70 percent financing by the State Bank of Pakistan (SBP), the volume of export refinance was see ...Full Story

Central Bank OMO siphons off Rs13 billion

KARACHI: State Bank of Pakistan (SBP) resorting to open market operation (OMO) mopped up Rs13.50 billion at 6 percent rate of inte ...Full Story

SHC suspends stock market ‘floor’ withdrawal

KARACHI: Sindh High Court (SHC) has suspended until December 16 the Securities and Exchange Commission of Pakistan (SECP) order fo ...Full Story

Club Football World Cup: Pachuca qualifies for semi-final

TOKYO: Pachuca's painful defeat in last year's Club World Cup inspired the Mexican team to secure a semi-final place against South ...Full Story

Pakistan outplayed by Japan in Junior Women Asia Cup Hockey

KUALA LUMPUR: Pakistan tasted a humiliating defeat when Japan outplayed them by 17 goals in the Junior Women Asia Cup Hockey Tourn .

West Indies, NZ Test ends in draw

DUNEDIN: The first Test between New Zealand and the West Indies ended in a draw after rain washed out the final day here Monday. With New Zealand on 44 for two in their second innings at close of play, the match had already appeared destined to end all-square after many hours were lost to rain earlier in the match. Earlier, the West Indies scored 340 in their first innings, including a quick fire 106 from number eight Jerome Taylor, in reply to New Zealand's 365. All of Friday was washed out and part of Saturday was lost to the wet weather. The second Test will be played in Napier from Friday, with top allrounder Jacob Oram a doubt for the home side.

Elbow injury rules Clark out of Perth Test

MELBOURNE: Aussie fast bowler Stuart Clark has been ruled out of Wednesday's first Test against South Africa in Perth due to the recurrence of an injury to his right elbow."I don't think it's a secret that I've had a bad elbow for a while. It's flared up. It's not acceptable to play. I had bowl on Friday and it was pretty sore but I had to come here and try it," Clark has been quoted as saying in the Australian after his pull out.Clark will fly home to Sydney and have the problem assessed by an orthopaedic surgeon and if an operation is required his season might be finished.Peter Siddle of Victoria, who toured India during their 0-2 defeat, was recalled to the 12-man squad to replace Clark and he is likely to fight it out with all-rounder Shane Watson for a spot in the starting line-up with off-spinner Jason Krejza almost certain to play. Siddle's Test debut came at Mohali in October when the same elbow problem kept Clark out of the team.Clark's loss could turn out to be a huge gain for Siddle, if he gets to play, as the fast and bouncy WACA pitch is expected to help his kind of bowling. Earlier, Clark had returned to form with a six-wicket haul against the Kiwis after struggling on Indian wickets.

Army defeats Police in baseball championship

LAHORE: The Pakistan Army won the inaugural match of the seventh National Inter-departmental Baseball Championship when it defeated the Pakistan Police by two scores.On the first day of the championship, which began here at the Iqbal Park Sports Complex on Sunday, the Pakistan Army won by score of 10 against 8 by the Pakistan Police.The victorious team displayed brilliant game and maintained its dominance throughout the match.For the Pakistan Army, Imtiaz Hussain, Rashid Baloch and Iftikhar made two scores each while Nasir Butt and Khurram Shahzad scored two each for the Pakistan Police.

Yousuf may be selected on good performance: Shoaib Mohammad

HYDERABAD: Member Pakistan Cricket Board selection committee Shoaib Mohammad said that Imran Nazir and Imran Farhat, who displayed better performance in the controvercial ICL, may be considered to be included in the Pakistan team.He said that Mohammad Yousuf may also stage a comeback in the national team if there is no disciplinary action against him in the way but the board policy has to be considered. He was talking with media on the occasion of the inauguration of the sixth All-Hyderabad Naeemuddin Memorial Cricket Tournament at the Akbari Ground, Lateefabad on Sunday.Shoaib Mohammad said that he is not in the position of saying anything about the future of Mohammad Yousuf but there were some differences regarding the ICL and the PCB due to which he is currently not in the Pakistan cricket team. However, he may be included in the team if he performs well.Replying to a question, Shoaib said that holding the series between Pakistan and India is looking difficult.

NA body meeting disrupts

ISLAMABAD: A meeting of National Assembly’s standing committee for education has been disrupted due to non-issuance of notification from National Assembly secretariat.Chairman standing committee for education Abid Sher Ali was summoned the meeting. The meeting is reviewing the issue of awarding additional numbers by federal education board to the daughter of Chief Justice Abdul Hamid Dogar.

Ajmal Kasab kidnapped by Indian agencies from Nepal

ISLAMABAD: A Pakistani lawyer C M Farooque claimed that many people, including Ajmal Kasab, were arrested before 2006 from Kathmandu by the Indian agencies with the help of Nepalese forces.He said Ajmal Kasab went to the Napalese capital on a business tour. His application regarding his arrest was lying pending in the Nepalese Supreme Court in which a reply was sought from Nepalese forces and Indian High Commission.While talking to the Geo News, C M Farooque Advocate said the Nepalese forces arrested almost 200 people including Ajmal Kasab before 2006 and his application in this regard was lying pending in the Nepalese Supreme Court in which Nepalese forces and Indian High Commission were made respondents.The advocate said he wrote letters to Pakistan and Indian governments in this regard. He said that he had also addressed a press conference in Nepal highlighting the issue in which he revealed that the Nepalese forces arrested Ajmal Kasab and many others and held them at an unknown place and that these people would be used for their ulterior designs at some later stage. He said that he had no contact with Ajmal Kasab ever since he disappeared. The lawyer said he was still pleading the case of Kasab and was to visit Nepal towards the end of this month. The Nepalese Supreme Court had repeatedly issued notices to the respondents to furnish their reply but they did not submit any reply. Advocate Farooque said he had filed the petition in the Nepalese Supreme Court in February 2008. He said he was running an NGO, ‘Voice of Human and Prisoners Rights’ and the parents of Ajmal Kasab contacted him for help in this regard after appealing to the Pakistan Government for help. The people arrested in Nepal had gone there on legal visa for business but Indian agencies were in the habit of capturing Pakistanis from Nepal and afterwards implicated them in the Mumbai-like incidents to malign Pakistan.

Swat’s local leader laid to rest

SWAT: The local leader of Mandal Dak area of Swat Pir Samiullah has been laid to rest on Monday.Militants killed him during a clash. According to sources, militants took the control of Mandal Dak area and now searching for more aides of Pir Samiullah.At least four people have been killed so far in the clashes continued since Thursday. Militants made eight-one people hostages.

Snow cuts power for 100,000 in France

LYON: Heavy snowfall and rainstorms across southern France cut power lines and trapped people in cars and trains. About 100,000 households were without electricity, local authorities and the ERDF power distribution company said. Two thousand people were stuck on trains running along the Mediterranean coast that came to a standstill when rainstorms brought down power lines. Up to 60 centimeters (24 inches) of snow fell in hilly regions over 24 hours and 12 French departments have been put on avalanche alerts, the French weather service said. The fire brigade rescued about 50 people stuck in cars on a main road near St Julien-Chapteuil in Haute Loire. Heavy winds brought a ski lift at Sept Laux in the Isere region to a standstill and emergency services rescued 50 skiers stuck on it.

Thai opposition leader elected new PM

BANGKOK: Thai opposition leader Abhisit Vejjajiva was elected Monday as the nation's third prime minister in four months, triggering protests from supporters of the old government who tried to block parliament.British-born Democrat Party leader Abhisit will head up a weak coalition government after winning a parliamentary vote, nearly two weeks after a court dissolved the ruling party linked to ousted premier Thaksin Shinawatra.

Bush arrives in Afghanistan on surprise visit

ABOARD AIR FORCE ONE: US President George W. Bush arrived in Afghanistan Monday, after a making a farewell visit to Iraq, according to the White House.Bush's plane landed in darkness at Baghram Air Base outside Kabul, a reporter traveling with him said. The US president was to hold talks with Afghan President Hamid Karzai and address US troops during the visit.

LSE ‘floor’ stays on LHC orders

LAHORE: Lahore High Court (LHC), declaring the Securities and Exchange Commission of Pakistan (SECP) decision defunct, ordered retaining the Lahore Stock Exchange (LSE) index ‘floor’, however, in violation of LHC verdict, LSE opened up today, but the trading failed to pick up.It was decided to keep the LSE trading activity closed in view of the LHC decision for retaining the index ‘floor’ and, meanwhile, the SECP officials have been summoned at 10.30 A.M. this morning.Barrister Shazeb Masoood told Geo News that the trading activity was underway despite the copies of the LHC orders were sent to the LSE management and SECP apprising of the LHC verdict and even then not keeping LSE closed tantamount to contempt of court.

Oil prices higher in Asian trade

SINGAPORE: World oil prices rebounded in Asian trade Monday on expectations that OPEC will cut its production targets at a meeting this week, dealers said. New York's main contract, light sweet crude for January delivery, gained 1.15 dollars to 47.43 dollars a barrel after closing Friday 1.70 dollars down at 46.28 dollars.Brent North Sea crude for January delivery rose 84 cents to 47.25 dollars a barrel. The contract closed Friday 98 cents lower at 46.41 dollars.

Global recession hits petroleum products’ consumption

DOHA: Global financial crisis and the economic slow down have hit the petroleum products’ consumption across the world, which came reeling down by 40 percent.OPEC member Algeria said that the international market demand for oil was continuously falling, which has diminished to 86 million barrels per day from 140 million bpd. In this backdrop, OPEC’s slated next week meeting might decide slashing production by 0.825 million bpd. It may be recalled that international market crude price since July thus far dropping by 68 percent came down to $46 per barrel from $147.

KSE to unfreeze market floor tomorrow

KARACHI: Securities and Exchange Commission of Pakistan (SECP) in light of the decision of Sindh High Court has announced to remove the lower capping of stock prices at Karachi Stock Exchange (KSE) from tomorrow.A meeting of SECP, KSE administration and National Clearing Company (NCC) was held here on Sunday.NCC sources told Geo News that under the decision of SHC two members of KSE will not have to submit cash to settle mark to market losses on December 15 and 16. However, the requirement of paying cash margin will be binding on all other members.It is still not clear if the decision of SHC relates to all the settlements under CFS financing or only the two members have been given some time.

Index ‘floor’ ends, KSE opens as usual

KARACHI: Securities and Exchange Commission of Pakistan (SECP) has lifted the Karachi Stock Exchange (KSE) index ‘floor’ after a lapse of agonizing three and a half months in the light of the orders of Sindh High Court (SHC) and the market is opened as usual today.SECP, KSE management and National Clearing Company (NCC) held a meeting yesterday. Sources privy to NCC told Geo News that in the light of the SHC decision the 15th and 16th December Mark-II market losses, which normally were taken in cash, would not be recovered from the KSE two members. However, KSE other members would be bound to pay the cash margin. Till now confusion prevails, whether the SHC decision was pervasive of overall settlement of the CFS financing or this related to giving moratorium to the two members only.

ISE trading witnessing intraday lowest locked

ISLAMABAD: Following the removal of index ‘floor’ today, Islamabad Stock Exchange (ISE) on its first day of trading witnessed 5 percent intraday low, which prompted the suspension of trading activities.Zeal Pak Cement, which remained most traded, its 5,00,00 shares exchanged hands.

Asif seeks neutral venue for doping case hearing

LAHORE: Pakistan fast bowler Mohammad Asif wants the hearing for his doping offence to be held outside India because of its strained relations with Pakistan in the aftermath of the recent attacks in Mumbai.“We are considering asking for the hearing to be held at a neutral venue because of the tense conditions,” Asif’s lawyer Shahid Karim told foreign news agency. Asif failed a dope test while playing in the Indian Premier League in June, his thir .... Full Story

KSE trading fails to pick up, despite lifting of index ‘floor’

KARACHI: Karachi Stock Exchange (KSE), which after a lapse of agonizing 110 days opened up with the index ‘floor’ lifted here today, failed to pick up normal trading, as the stuck up investors, despite heavy losses, appeared reluctant in selling their shares. KSE management had clamped the KSE-100 index ‘floor’ at 9144 points for two weeks on August 27, 2008, following persistent bearish waves that had washed away the index by 40 percent, but the .... Full Story

India prepared for strike on Pakistan: US media

WASHINGTON; The United States believes that India's air force began preliminary preparations for a possible attack against Pakistan in the immediate aftermath of the recent massacre in Mumbai, a US news channel reported on Monday.Three Pentagon officials individually confirmed that the United States had information indicating that India began to prepare air force personnel for a possible mission.The officials offered very few details, but one sai ..

Pak offer to send delegation to India, joint investigations

PARIS: Foreign Minister Shah Mahmood Qureshi said Pakistan has offered India to set up joint investigations for Mumbai attacks and sending a delegation headed by foreign minister to chalk out joint strategy against terrorism.Talking to media here, foreign minister said Pakistan want to resolve issue through dialogue and is cooperating with India in every aspect. Pakistan imposed ban on Jamaat-ud- Daawa in accordance with United Nations resolution ..

CJP under constitution can’t be made respondent in any case

ISLAMABAD: Islamabad High Court (IHC) Registrar Office has returned the petition, praying for making Farah Hameed Dogar’s father Chief Justice of Pakistan (CJP) a respondent in the case of additional numbers given to her, with objections attached to it.Iftikhar Rajput’s lawyer, Barrister Javed Jaffery had filed the petition, which was returned with objections by the IHC Registrar office here. Barrister Jaffery had filed a separate petitio ... Full Story