KARACHI: When Prime Minister Nawaz Sharif assured all segments of society on Tuesday that peace would be brought back to Karachi, many were not ready to buy his words as history has made them sceptical. Despite seriousness showed by the federal government, the people in Karachi wonder what lies ahead for them, with threats ranging from militancy to target killings and street crimes to kidnapping for ransom tormenting them they face daily.
Ombudsman appears in SC to face challenge
ISLAMABAD: The ailing Federal Ombudsman, Salman Farooqui, appeared before the Supreme Court on Tuesday to face a challenge against his appointment filed by Adviser to the Transparency International Pakistan Syed Adil Gilani. Mr Farooqui was summoned by a three-judge bench headed by Chief Justice Iftikhar Muhammad Chaudhry to respond to charges that he had been appointed as acting ombudsman by the caretaker government. He informed the court that he had been diagnosed with an aggressive cancer of the blood in which survival rate was not high.
Number of Syrian refugees passes 2 million
GENEVA: More than two million Syrians have now fled their war-ravaged country, the UN refugee agency said Tuesday, lamenting the nearly 10-fold increase from a year ago. “Syria is haemorrhaging women, children and men who cross borders often with little more than the clothes on their backs,” the UNHCR said in a statement, pointing out that on September 3, 2012, it had registered just 230,671 Syrian refugees. In addition to the two million Syrians living as refugees, some 4.25 million people have been displaced within the devastated country since the conflict began in March 2011, according to UN figures.
Indian HC, Sartaj Aziz discuss Nawaz, Singh meeting
ISLAMABAD: Indian High Commissioner to Pakistan, T.C.A. Raghavan, met with Adviser to Prime Minister Nawaz Sharif on Foreign Affairs and National Security, Sartaj Aziz, at the Foreign Office on Tuesday, DNA reported.
Stocks plunge by 436 points
KARACHI: Selling intensified at the Karachi stock market on Monday with red splattered all across the board. By the close of trading, the KSE-100 index had plunged by 436.17 points or 1.97 per cent to 21,724.68. With lone greens here and there, the declining stocks at 288, outnumbered the mere 45 gainers, by a margin of six-to-one. Market capitalisation eroded by Rs97 billion on Monday to close at Rs5.417 trillion. Although the stocks had suffered sharp pull back in the last two trading days, Thursday and Friday, most investors were shocked to see the stock prices cave in just at the start of trading on Monday.
World oil prices drop
LONDON: Oil prices fell on Monday after US President Barack Obama said he would seek approval from lawmakers for military action against Syria, easing prospects of an imminent strike, analysts said. Losses were capped by news of upbeat economic data in China, which is the world’s biggest consumer of energy. New York’s main contract, West Texas Intermediate (WTI) for delivery in October, shed 41 cents to $107.24 per barrel.
India’s parliament passes cheap food law for 800 million people
NEW DELHI: India’s upper house of parliament on Monday approved a $20 billion scheme to distribute subsidised wheat and rice to 800 million people, backing an anti-malnutrition drive that investors fear will mean missing the fiscal deficit target. The Food Security Bill is seen as a vote winner by the ruling Congress party as it prepares for elections due by May next year. But investors reacted negatively to the plan when the lower house approved it last weak, on worries the government will struggle to contain the cost of subsidies.
Manufacturers jack up prices
KARACHI: Manufacturers have raised prices of washing powder, soaps and biscuits from Sept 1 after an increase by Rs2.50 per litre in diesel prices by the PML-N government. Consumers would have to swallow more bitter pills and pay high prices of various commodities after the third increase in diesel prices by the present government. Retailers said that biscuit manufacturers have increased prices by Re1 to Rs2 depending on the packet size and weight. They said leading manufacturers, mostly multinationals, have pushed up prices of washing powder by Rs5 to 10 in half and one kg packs, followed by jump of Rs2 to Rs3 in soap prices.
Indian spy plane violates airspace
SIALKOT: An Indian spy plane violated Pakistani airspace in Chaprar sector on Saturday afternoon. Chenab Rangers spokesman Maj Asad Mahmood told reporters that the Indian spy plane (RPV) entered Pakistani territory from Butti 865 at 1.55pm and went back at 1.57pm from the BSF Post in Jammu Sector after violating Pakistani airspace for about one and a half minutes. He said the green plane flew at approximately 3,500feet and entered up to 350 metres into Pakistan’s airspace.
White House holds high-level meeting amid terror fears
WASHINGTON: The White House held a high-level meeting Saturday on terror concerns that prompted Washington to issue a worldwide travel alert and order its embassies across the Islamic world closed temporarily. The meeting was held as Interpol issued a global security alert after hundreds of militants were set free in jailbreaks linked to the Al-Qaeda terror network, and as suicide bombers killed nine near the Indian consulate in the eastern Afghan city of Jalalabad. Those attending the meeting, chaired by National Security Advisor Susan Rice, included Secretary of State John Kerry, Defense Secretary Chuck Hagel and Homeland Security Secretary Janet Napolitano.
