Burberry’s 1st Pakistani model is a 5-year-old girl

Laila Naim is only five years old and has already taken the glitzy and glamorous world of fashion by storm. Born in London, Naim probably entered the world with the aim to become a star. She started singing at the tender age of three and later joined a theatre academy where she is learning singing, dancing and acting.
At just aged four, a leading children’s modelling academy signed her up that resulted in one of the world’s leading fashion houses, Burberry, signing her up. Thus, Naim became the first Pakistani model for the prestigious Burberry fashion label, currently featuring in their Spring/Summer 2015 campaign as well as shooting for their Autumn/Winter 2015 collection. With this campaign, she has joined the ranks of Kate Moss, Cara Delevingne and Emma Watson who have featured in Burberry’s campaigns.
This teeny-tiny starlet has shown that there’s no stopping her. She has added another feather to her expanding fashion portfolio cap and recently shot for the celebrated British retail brand Marks & Spencer.
Naim’s latest shoot can be seen in the April issue of the popular InStyle magazine. Naim has so far featured in globally renowned fashion magazines Instyle, Red, Marie Claire and Tatler.

Animals may help predict earthquakes: study

Electricity in the air appears to help animals predict earthquakes, according to a new study of the phenomenon, Sky News reports.
Camera traps in Peru’s Yanachaga National Park in Peru have shown an “amazing” drop in animals numbers up to 23 days before a major quake. Before the magnitude seven Contamana earthquake in 2011, no animal movements were recorded for five of the seven days leading up to the tremor.
That is extremely unusual in a region with abundant wildlife.
Lead scientist Dr Rachel Grant, from Anglia Ruskin University, said, “The park was 320km from the epicentre and I thought, there was not much going to be happening. But when I saw the results I was totally shocked. It was amazing. The analysis showed that just before the earthquake animal activity dropped right down.”
It is thought positive ions – electrically charged molecules said to be generated when rocks are placed under stress – were released into the air at the mountain site prior to the quake. These ions are believed to make the animals, mainly rodents and other creatures living close to the ground, feel uncomfortable and leave the area.
They are believed to have moved to lower ground where the air will have less ions. Unlike “feel good” negative ions, positive ions can trigger headaches, agitation, hyperactivity and confusion in humans as well as animals.
When seismic activity was low, a study of camera trap sightings showed that animal activity remained normal in the park. Researchers claim the findings may help to develop better short-term seismic forecasts.

Royal baby will be a girl called Alice with blonde hair, say bookies

Bookies slashed odds on the next royal baby being called Alice, mirror.co.uk reports.
Online bookies Betfair Sportsbook cut their odds on the name from 8/1 to 3/1 following a rush of bets in the last 24 hours. Alice is a traditional royal name and is the middle name of Princess Anne and Prince Edward’s daughter Lady Louise.
But a senior British royal has not been given it as a first name since Queen Victoria chose it for her second daughter Princess Alice.
Other girls names still in the running are Elizabeth at 5/1, Charlotte at 11/2 and Victoria at 12/1.
Betting has been hotting up on the topic with the birth at the Lindo Wing of St Mary’s Hospital, Paddington expected to be just one month away. The bookmaker said that backing for a boy and girl had been fairly evenly split but a huge 85% of people think the baby will be blonde.
Prince George, now 20 months, has golden locks just like his dad did at that age, despite Kate being a brunette.
Novelties and Politics Trader for Betfair, Cormac Dowling, said, “The public love a Royal announcement and we’re expecting the arrival to be the novelty betting heat of the year. We’re confident it may rival even the EastEnders Lucy Beale’s killer market, which saw over £10 million of bets across the industry. Elizabeth had been the clear favourite until an unexpected rush of support for Alice over the last 24 hours and we’ve been forced to slash the price from 8/1 to 3/1.” Kate has had a busy schedule of engagements in the run-up to the birth including visiting the set of hit drama ‘Downton Abbey’. She will carry out her last official engagement this Friday before going on maternity leave.
She and William will spend the day in south London visiting the Stephen Lawrence Centre in Deptford and another charity in Gypsy Hill.

What stops women from working out?

Millions of women are not taking enough exercise because they are afraid of being “judged”, MPs warn, Daily Mail reports.
They worry they will be ridiculed for being sweaty, out of breath or struggling at the back when jogging or at the gym. Some women have taken to running in secret on treadmills installed in sheds in their back garden because they are too ashamed to do it in public.
A report by MPs on the Commons’ Health Select Committee also highlights how girls as young as ten shun PE classes because they worry about their body image. Figures show that just over two thirds of women, 68 percent, do not take the recommended level of exercise of two and a half hours over the course of a week.
This is much higher than the 56 percent of men who do not do this weekly amount.
Experts have warned that a lack of exercise is as harmful as tobacco and contributes to up to one in six deaths in the UK. Tory MP Dr Sarah Wollaston, chairman of the committee, said, “It is unacceptable that this gender gap has been ignored for so long. We need to be out there ensuring that girls can access the type of sport they want to take part in.”
Labour MP Barbara Keeley said girls aged 10, 11 and 12 were dropping out of games lessons because they were worried about showing “puppy fat”.
One woman interviewed by the committee was told by her male GP she was too fat to do the London Marathon even though she had run 18 miles the week previously.
Julie Creffield, a campaigner who encourages women to exercise, said she was determined to “prove him wrong” and finished the event in 2013.
Creffield, 36, a mother who works as a motivational speaker, said many women were afraid to join running clubs or attend gym classes because they didn’t want to be the one “struggling at the back”.

Facebook may host news sites’ content

Nothing attracts news organisations like Facebook. And nothing makes them more nervous.
With 1.4 billion users, the social media site has become a vital source of traffic for publishers looking to reach an increasingly fragmented audience glued to smartphones. In recent months, Facebook has been quietly holding talks with at least half a dozen media companies about hosting their content inside Facebook rather than making users tap a link to go to an external site.
Such a plan would represent a leap of faith for news organizations accustomed to keeping their readers within their own ecosystems, as well as accumulating valuable data on them. Facebook has been trying to allay their fears, according to several of the people briefed on the talks, who spoke on condition of anonymity because they were bound by nondisclosure agreements.
Facebook intends to begin testing the new format in the next several months, according to two people with knowledge of the discussions. The initial partners are expected to be The New York Times, BuzzFeed and National Geographic, although others may be added since discussions are continuing. The Times and Facebook are moving closer to a firm deal, one person said.
To make the proposal more appealing to publishers, Facebook has discussed ways for publishers to make money from advertising that would run alongside the content.
Facebook has said publicly that it wants to make the experience of consuming content online more seamless. News articles on Facebook are currently linked to the publisher's own website, and open in a web browser, typically taking about eight seconds to load. Facebook thinks that this is too much time, especially on a mobile device, and that when it comes to catching the roving eyeballs of readers, milliseconds matter.
In addition to hosting content directly on Facebook, the company is talking with publishers about other technical ways to hasten delivery of their articles.
Even marginal increases in the speed of a site, said Edward Kim, chief executive of the analytics and distribution company SimpleReach, generally mean big increases in user satisfaction and traffic. So it is likely, he said, that Facebook's plan focuses on those small improvements, rather than on getting money from deals with media companies.
"But there are a lot of implications for publishers," he added. "It really comes down to how Facebook structures this, and how they can ensure this is a win on both sides."
The issue is also pressing, he said, because some media companies have seen a drop in traffic from Facebook that could be attributed to the company's prioritizing of video - a much more lucrative medium for ad sales.
Video has become increasingly popular with Facebook users and advertisers, and at its developer conference that begins on Wednesday, the company is expected to introduce expanded tools to place video ads inside non-Facebook applications.
Like Facebook, media companies also want improved user experiences. Still, they are treading carefully. While BuzzFeed has an overt policy of spreading its content outside of its own site, The Times uses a subscription model that provides a growing portion of the company's revenue. It would have to weigh the benefits of reaching Facebook's users - and the ad revenue that comes with them - against the prospect of giving away its content and losing the clicks on its own site that would instead stay within Facebook.
Some news organisations have reacted coolly to the proposal. Several employees of The Guardian, for example, have informally suggested to colleagues at other publications that publishers should band together to negotiate deals that work for the whole industry, and should retain control of their own advertising, whether content is hosted on Facebook or not, a person with knowledge of the discussions said.
Representatives for The Times and BuzzFeed declined to comment on Monday. The Guardian and National Geographic did not immediately respond to questions about talks with Facebook.
The Huffington Post and the business and economics website Quartz were also approached. Both also declined to discuss their involvement.
Facebook declined to comment on its specific discussions with publishers. But the company noted that it had provided features to help publishers get better traction on Facebook, including tools unveiled in December that let them target their articles to specific groups of Facebook users, such as young women living in New York who like to travel.
The company recognises that the new plan, championed by Chris Cox, the top lieutenant to Facebook Chief Mark Zuckerberg, on product matters, would remove the usual ads that publishers place around their content. Although the revenue-sharing ideas are still in flux, one would allow publishers to show a single ad in a custom format within each Facebook article, according to one person with knowledge of the discussions.
Facebook has not historically done any kind of revenue-sharing with content publishers.

Teenagers are happier than 10 years ago

Young teenagers are happier and healthier now than teenagers were a decade ago, a new study said, Daily Mail reports.

It found that the ‘Facebook generation’ of youngsters are less likely than their predecessors to drink alcohol, smoke tobacco or cannabis, or get bullied. A growing proportion of 11 to 15-year-olds, the study said, engage in behaviour that would make their parents proud. They eat fruit and vegetables, take exercise, clean their teeth and talk to their mothers and fathers.

However the study, assembled by academics at St Andrews University, complained that despite the increasing levels of health and well-being, adolescents now are just as likely to be fat as the generation of the 2000s. Obesity rates, it said, did not decline between 2002 and 2010. The findings, based on a series of papers put together with the help of the World Health Organisation, are the latest to underline the increasing trend for teenagers to avoid risky behaviour in favour of a healthier lifestyle.

In England and Wales teen pregnancies have fallen to levels last seen in the 1960s and official surveys have shown a major drop in drinking among young people. More than a quarter of under-24s are teetotal and fewer than a fifth ever go binge drinking, according to 2013 estimates.

In 2013, tobacco smoking among young women aged 18 to 24 dropped by 10 percent and among young men by almost as much. State surveys also showed a major drop in 2013 in numbers of people in the same age group who took any illegal drug, down from 19.3 percent to 16.3 percent. Some researchers have pointed to a ‘Facebook effect’, which has led teenagers who would once have spent their spare time on the streets instead to devote it to playing with gadgets in their bedrooms. Widespread public disapproval of smoking, drunkenness, drug abuse and teen mothers is also likely to have influenced teen behaviour.

Professor Candace Currie of St Andrews, who assembled evidence drawn up from surveys and official statistics carried out in Europe and North America, said, “There is much to celebrate about the health and well-being of many young people today.”

She added however that “others continue to experience real and worrying problems”.

Some countries, including Scotland, showed evidence that fewer youngsters took daily exercise in 2010 than in 2002.

The report said that while the overall optimistic picture seems surprising, considering that many countries faced a severe economic crisis in the last decade, policies and actions to improve public health were implemented in many countries in the same period. Many of those policies were, however, deeply controversial.

Critics of the Teenage Pregnancy Strategy, launched in England by Tony Blair, have said that it had nothing to do with the fall in teenage pregnancy, which did not become evident until after David Cameron’s Coalition scrapped the programme of contraceptive distribution in 2010.

The report added that “the general feeling that young people are better off today could also be attributed to changes in fashions, behavioural norms and societal values”. Professor Currie said, “Adolescence is a crucial stage in life when you lay the foundation for adulthood, whether that is healthy or otherwise.”

You shouldn’t store your daily coffee in the freezer

If you drink coffee every day, you owe it to yourself to take care of your grounds or beans. If you store your food properly, there’s no excuse for keeping your coffee in the wrong place. Here’s what you need to know:

Daily coffee drinkers should keep their coffee in the pantry, not the freezer or refrigerator, Huffington Post reports.

While it’s important to keep your grounds or beans somewhere cool, the fridge or freezer will create too much moisture in the package. Moisture is one of coffee’s “biggest enemies”. It can turn your beans bad really quickly and dull the taste. Your fridge or freezer are key players here not only because they’re humid environments, but also because they create temperature fluctuations, which cause even more moisture by creating condensation. By taking your coffee in and out of the fridge or freezer every day, you’re exacerbating the situation. These changes in temperature can leave your coffee flavourless, Scott McMartin, a member of the Starbucks Green Coffee Quality group, told Real Simple. “The cell structure changes, which causes a loss of the oils that give coffee its aroma and flavour,” McMartin said.

The only time it’s appropriate to store coffee in the freezer is if you’ve bought it in bulk and aren’t using it right away. The National Coffee Association says you can store coffee up to one month this way. Once you’re ready to start using the coffee on a regular basis, remove it from the freezer and keep it in a cool, dry place.

Not only is it important to store your coffee in the right place, it’s also important to store it in a tightly sealed container. Whether it’s in the pantry for daily use or in the freezer for long-term storage, keep your beans or grounds in an air-tight container with a one-way valve, Blue Bottle Coffee recommends. The one-way valve makes sure oxygen doesn’t get in, but allows for CO2 to escape. Like moisture, oxygen is bad for coffee, so keeping it sealed tight is really important. Keep the moisture and air away, and you won’t only have better coffee – you’ll have better mornings, too. 

PC fails to satisfy CCoP over HEC divestment

ISLAMABAD - The Privatisation Commission on Tuesday failed to satisfy the Cabinet Committee on Privatisation over its recommendations regarding the divestment of the Heavy Electrical Complex.
The CCoP, which met under the chair of Finance Minister Ishaq Dar, has reviewed the recommendations of the Privatisation Commission's Board regarding the divestment of the Heavy Electrical Complex.
The Chairman Privatisation Commission (PC), Mohammad Zubair briefed the meeting about the divestment process and other related matters. However, sources informed that PC officials could not satisfy the members of the CCoP. Finance Minister directed the Chairman PC to urgently come up with necessary clarifications on these queries. The Finance Minister directed for the CCoP meeting to be reconvened within this week for further consideration of the recommendations of the PC Board in the light of fresh inputs. Federal Minister for P&NR, Shahid Khaqan Abbasy, Commerce Minister, Khurram Dastgir, Secretary Finance, Dr. Waqar Masood, Advisor Finance Division, Rana Assad Amin, Chairman BOI, Miftah Ismail, Chairman Privatisation Commission, Mohammad Zubair, Secretary Privatisation Commission, Ahmed Nawaz Sukhera and other senior officials attended the meeting.

55 tons of coal imported for PSM

KARACHI- A ship carrying 55 tons metallurgical coal from Australia for the Pakistan Steel Mills (PSM) arrived at the Natty Jetty dockyard on Wednesday. Sources said that the MV trans-pacific ship has dock at the wharf, which will be transported to the PSM wherehouse. The sources said that after the new shipment, the metallurgical coal stock at the PSM has reached 2 lac tons while that of iron ores stock has reached 1 lac tons.  After arrival of the new stock, production at the PSM would boot and the output targets will be achieved.

Pakistan aims for FTA with Indonesia to further boost trade

ISLAMABAD - Pakistan is aiming to start negotiations on a free trade agreement (FTA) with Indonesia sometime this year, to expand on the current preferential trade agreement (PTA), which began in 2013.
As a result of the PTA, which had been mooted between Pakistan and Indonesia since 2008, bilateral trade rose dramatically from around $1.1 billion in 2013 to $2.2 billion in 2014. Pakistan’s charge d’affaires to Indonesia, Syed Zahid Reza explained that Pakistan was aiming for a 25 percent rise in trade figures by the end of 2015. “With a free trade agreement, Indonesia will also have easier access to Central Asian trade markets, using Pakistan as a transit point, which will benefit them as well,” Syed was quoted as saying by `The Jakarta Post’ on Wednesday on the sidelines of the 75th Pakistan National Day celebration event in Kuningan, South Jakarta.
He explained that a major slice of Indonesian exports to Pakistan came from palm oil, as Pakistan was one of the world’s largest buyers of Indonesian palm oil.
He added that people-to-people relations between the two countries would also be improved further, with cooperation on think tanks and education being part of the plan.

KSE falls to 3-month low as foreign selling continues

KARACHI
Equity market witnessed a volatile session on Wednesday to close at 31,086.51 levels down by 224 points or 0.7pc.
Recent foreign selling spree continued throughout the day further shattering investors’ confidence. The day’s volatile session, KSE-100 index failed to support the 200 DMA with lackluster volumes.
Cements failed to benefit from the recent discount rate cut while the textile sector remained under pressure as textile exports fell by 2.9pc MoM and 10.0pc YoY in Feb 2015. Discount rate cut dampened banking returns, evident by a run on most banking stocks through the day’s trade. A further fall in Brent oil saw its effect on the oil & gas sector as almost all oil & gas scripts ended negative, commented analyst Arhum Ghous.
The bearish trend continued as Pakistan stocks fell 0.7pc further to 3 months low at 31,087 points. In the last 7 trading sessions, the Index is now down 5.7pc while it is down 10.95pc from its recent peak seen on Feb 03, 2015.
Volumes also declined to a 6-month low as only 99m shares were traded worth of Rs.6.1b/$611m. Rollover of futures contract also impacted the overall sentiments. PAEL with one of the highest open interest in futures fell by 5pc. Engro with 4.4m shares (Rs1.2b) traded fell by 0.8pc due to news of institutional selling.
Investors are concerned on continuous selling by offshore investors. That is why no aggressive buying is coming at these levels despite the recent fall in interest rates, observed Samar Iqbal VP at Equity Sales Topline Securities.
Selling continued across the board as political uncertainty weighed on investor sentiments ignoring ADB upbeat growth projections at 4.2pc for Pakistan and improving sales data in oil, cement, auto and fertilizer sectors, market watchers said. Uncertainty over global commodities prices, foreign selling in emerging markets played a catalyst role in bearish activity at KSE, they added.

Leading Chinese firms ready to invest in PIA, CAA

islamabad
A number of leading Chinese firms have shown their interest to invest in Pakistan International Airlines (PIA) and Civil Aviation Authority (CAA) to improve facilities for the passengers and increase the number of flights to connect Pakistan with all over the world.
Pakistan just need some improvement in its transportation facilities, reservation system, airport facilities and technical know-how to get more destinations and enhance number of passengers through PIA, said Qiao Song, Managing Director of a leading Chinese company Sibol China Limited while talking to APP here on Wednesday. He is in Pakistan to look into prospects of joint venture with PIA by Chinese firms. He said Pakistan is situated at a very important geographical area and PIA can take full advantage from this geographical situation to link the world.
Qiao Song said PIA could also linked to about ten cities of China and these flights could go further to other destinations taking the advantage of close and strong ties of Pakistan and China.
He said presently there are only three destinations which are being connected between Pakistan and China while these flights can be extended to ten cities to cater more business for PIA. He said ticketing and reservation system of PIA need to be improved so that it can be accessed from any where in the world for booking and checking the status of their booking.
Regrading problem of Union in PIA, he said, union is not a problem for improving the PIA facilities as workers’ union always very important segment of the organization and helpful in implementing the policies of the administration.
Chairman Sibol China Limited Yang Shu, while giving his opinion, said there are many Chinese companies already working in Pakistan and due to strong bilateral relations, there are very bight chances that more Chinese firms could come here to invest in various sectors especially in airline industry. He said some Chinese companies have already doing business and interacting with leading airline manufacturing companies including Boeing Company therefore, they can use their experience for transfer of technology to the staff of PIA.
Yang Shu said maintenance of the aircraft and addition of new aircraft are very important and many Chinese firms are ready to help, assist and provide financial assistance to Pakistan in this regard.
Chairman Global Industrial Solution Mian Zia, who had been doing business in China for last 25 years very successfully and motivating the new Chinese companies to invest and do business in Pakistan, while talking to APP said there are wide scope for joint venture with many Chinese companies in different areas.
He said aviation industry of Pakistan need some assistance, technical help and modern training to improve its standard equal to the world and Chinese Company Sibol China Limited is ready to invest in this sector.
He said joint training programme with the cooperation from international standard institutions, the present workers of the PIA would be made more productive and useful segments for the airline to make it more progressive, energetic and profit making institution.
Mian Zia said a group of experienced aviation industrial experts from China backed by world leading financial institutions, original equipments manufactured with business focus on new merging economic regions are interested to invest in Pakistan.
“We seeking new aviation related business opportunities in the region where we find strong local partner and government support together to build new global aviation net work to better serve the region and the world where we can see the market demands,” he added.
He said taking advantage of the unique geographic position of Pakistan, it can be build a high efficient, reliable, low cost, better coverage and environmentally friendly air, ocean and ground transportation hub, including airports, seaports and ground transportation network to connect the region with the world.
He said that an international logistic hub can be build in Pakistan including an international airport, an international seaport, regional railway and domestic tracking, ground network to connect regional economic centers with Asia, Africa, Middle East, Europe and America.
Mian Zia said the newly build international hub, preferably in Gwadar will be used as a strategic global logistic distribution center for Eastern and Southern Asian countries and Ocean countries to connect effectively with Middle Eastern countries with extended linkage to Europe, North and South American countries.
He said a free trade zone can be set up to attract selective industries for export oriented production in the region as well as international logistic and distribution centers for multi-national corporations.
He said this hub could also be used to promote tourist friendly environment, travel resorts along the cost line of Pakistan for international vacationers.
Mian Zia said the Chinese firms are ready to cooperate with PIA for expanding its network, expansion, fleet modernization, and corporate restructure.

Wapda to submit PC-I of Tarbela 5th Extension Project to ministry

lahore
 Wapda has decided to submit PC-I of 1410-MW Tarbela 5th Extension Hydropower Project.
The project amounting to $795.8 million will be submitted to the Ministry of Water and Power which will seek its approval from the Planning Commission.
This decision was made in the Authority’s meeting held at Wapda House on Wednesday. The meeting, presided over by the Chairman Zafar Mahmood, was attended by the Member (Water) Muhammad Shoaib Iqbal, Member (Power) Badrul Munir Murtiza, Member (Finance) Anwar-ul-Haq and Secretary Wapda Syed Khalid Akhlaq Gilani. The Project authorities and representatives of the consultants were also present on the occasion.  Earlier, a detailed presentation was made on the PC-I of the project in the meeting by the General Manager (Tarbela Dam Project) Iqbal Masood Siddiqui. The Authority had a detailed discussion on the cost estimations quoted in the PC-I with a view to ensure that the cost is accurate and in accordance with the relevant parameters. It was noted that revision of PC-I of the projects results in escalation of the cost, and delays their scheduled-completion. The Tarbela 5th Extension Hydropower Project is a part of the least-cost hydel power generation plan of the Federal Government, being executed by Wapda on priority. The project is like a low-hanging fruit, benefits of which may be accrued in a very short span of time as the project will be completed before the high-flows season of 2018. As per details of the project, the existing Tunnel No. 5 of the Tarbela Dam will be converted into power tunnel without affecting the irrigation release capabilities. As many as three units with generation capacity of 470 MW each will be installed to generate 1410 MW electricity during summer season. It is a low-risk and high-reward project aimed at providing more than 1.8 billion units of the lost-cost hydel electricity to the national grid per annum. The project’s Financial Internal Rate of Return (FIRR) has been estimated at 13.5 percent.
The installed capacity of the existing 3478 MW-Tarbela Hydel Power Station will rise to 4888 MW after completion of the under-construction Tarbela 4th Extension and 6298 MW after completion of the Tarbela 5th Extension Hydropower Project.

Dar announces new PRI scheme to encourage remittances through banking channels

karachi
Finance Minister Ishaq Dar in consultation with various banks announced new PRI (Pakistan Remittances Initiative) scheme here on Wednesday.
According to details, on remittance of USD200 (threshold), standard TT charges will be 20 Riyals. He said all PRI arrears will be paid to banks by the government through the State Bank of Pakistan from April-July 2015. Under PRI scheme the government pays the remittances fee. The finance minister said PRI is meant to encourage remittances through banking channels and hoped that the banks would play their due role to ensure maximum remittances by the overseas Pakistanis through banking channel.
While addressing an award ceremony here at Karachi Stock Exchange to recognize the 25 best performing companies, during 2010-2013, the federal minister said with concerted efforts by the government, Pakistan’s economy has achieved position of stability.
“Pakistan of today is far better than the Pakistan as of May 2013”, Dar said while addressing an award ceremony here at Karachi Stock Exchange to recognize the 25 best performing companies, during 2010-2013. He said the previous governments also announced reforms but the element of effective implementation was missing. “We have not only introduced reforms but also ensured implementation-results are positive”, he maintained.
He said the government wanted to take the country from a stable economic position to the league of emerging economies and KSE was a good example of brisk business activity.
“Despite tremendous pressures on the government since it came into power, untiring efforts have enabled us to achieve GDP growth of 4.1% last year and we are on target of achieving 5.1% GDP growth in the current fiscal year”, he added. He said major initiatives were now underway in terms of power generation, transmission system upgrades. He said LNG and Coal based projects will transform the landscape of the Power sector in the next few years. “Elimination of extremism; energy crisis curtailment and doubling the GDP allocation for education and health sectors are the goals PML-N government is fast on its way to achieve,” said Ishaq Dar. “We at the very outset managed to adopt measures focused on economic reforms that helped to regain country’s reputation in the international markets,” he said. He said the PML-N govt has adopted a multi-pronged approach and is also fast on its way to help country end the demand-supply gap in power sector by the end of 2017. Similarly, the government has an inflexible resolve towards elimination of terrorism, he said.

Moody’s upgrades Pak bond rating

islamabad
Moody’s Investors Service has revised the outlook on Pakistan’s foreign currency government bond rating to positive from stable on basis of strengthening external liquidity position, continued efforts toward fiscal consolidation, and government’s steady progress in achieving structural reforms under the IMF programme.
Moody’s has affirmed the government’s issuer rating and senior unsecured rating at Caa1. The Caa1 rating is also affirmed for US dollar Trust Certificates issued by The Second Pakistan International Sukuk Company Limited.
Moody’s Investors Service, which is a leading provider of credit ratings, research and risk analysis, has stated three drivers for changing the rating to positive from stable including a stronger external liquidity position, efforts towards fiscal consolidation and progress in achieving structural reforms and quantitative targets under the IMF programme.
According to the Moody’s note, net foreign reserves with the State Bank of Pakistan climbed to $11.2 billion as of 13 March 2015, from $3.2 billion at the end of January 2014. The cushion provided by foreign reserves coupled with dwindling external debt repayments to the IMF has reduced external vulnerabilities. This has in large part resulted from a lower current account deficit, which was easily financed by the issuance of a Eurobond in April 2014, a Sukuk issuance in December, continued disbursements under the IMF programme and privatisation proceeds.
The narrowing of the current account deficit to 1.2pc of GDP in the fiscal year ended June 2014 (FY2014) from 2.1pc in FY2012 was largely due to the steady uptick in workers’ remittances and receipt of anti-terrorism Coalition Support Funds from the US. We estimate that the current account will narrow further in fiscal 2015 to 0.8pc of GDP, on account of the fall in oil prices.
Although wide fiscal deficits and high debt levels remain a credit constraint, Pakistan has made progress towards fiscal consolidation. In FY2014, the government was able to bring the deficit down to 5.5pc of GDP (excluding grants), from 8.2pc the previous year. The government is targeting a further shrinkage in the deficit, to 4.9pc of GDP in FY2015. Although the pace of deficit reduction may be less marked than the budget forecasts suggest, we expect the authorities will continue along the path of fiscal consolidation.
The government has relied on the banking system for deficit financing, but such borrowing is gradually declining as privatisation proceeds, and the Eurobond and Sukuk issuances, have helped it to diversify funding. Moreover, the maturity of domestic public debt is lengthening as the government substitutes shorter-term treasury bills with Pakistan Investment Bonds that carry a longer tenure. This will reduce roll-over risks and volatility in debt issuance prices.
Under its programme with the IMF, Pakistan has also made steady progress on structural reforms. As of December 2014, it had cleared five programme reviews, receiving $3.2 billion in financial assistance under the SDR 4.39 billion ($6.1 billion at current exchange rates) programme that it signed in September 2013. In early February this year, the IMF issued a statement upon the conclusion of its Staff Mission, indicating that the sixth review had been conducted successfully and was being reviewed by the IMF’s Management Board.
Reform measures stipulated under the programme primarily focus on fiscal consolidation, debt management, and addressing structural constraints in the energy sector. Authorities are striving to meet the remaining structural benchmarks scheduled for the year ahead. These include the passage of legislation to enhance independence of the central bank, steps to improve monetary transmission and debt management, and privatisation and strategic stake sales of state-owned enterprises.
Although Pakistan’s international liquidity buffer has been replenished and balance of payments pressures have subsided, an incipient recovery in investor confidence has not yet significantly boosted direct investment inflows. In addition, most of the build-up in official reserves has come from external borrowings, including drawdowns from Pakistan’s IMF programme. Moreover, Pakistan’s economic recovery faces structural challenges, and reform measures have not completely taken hold.
While a positive outlook suggests a diminution of the probability of default, the Caa1 rating reflects Pakistan’s structurally large fiscal imbalances, high debt servicing costs, dependence on foreign creditors and substantial refinancing needs. It also incorporates implementation risk associated with economic reform and a high susceptibility to event risk — both on the political front and in terms of economic vulnerabilities that could arise, primarily from Pakistan’s reliance on bilateral and multilateral support.

De Villiers takes

South Africa captain AB de Villiers laid the blame for the World Cup semi-final loss to New Zealand on a string of costly errors led by his own failure to run out Corey Anderson. Anderson was on 33 at the time and scored a further 25 in a 103-run partnership with match-winner Grant Elliott.
Elliott clouted a colossal six off the second-to-last ball of the game to get New Zealand home by four wickets as they reeled in a 298-run target, revised under the Duckworth/Lewis method in the rain-affected game. South Africa, batting first, made 281-5 after the match was reduced to 43 overs a side following a two-hour rain interruption.
De Villiers was distraught at defeat. "It's really painful. We had opportunities and it will take us a long time to get over this," he said. De Villiers, who proclaimed before the semi-final that South Africa would go on to win the Cup, believed it was a defendable target and his team had paid a high price for their own errors.
"We had our chances especially in the second half of the game and we didn't take them so it's difficult to say what kind of emotions I'm feeling. It's obviously painful," said the captain, who had made an undefeated 65 when his team batted. There were lots of people back home supporting us. It hurts to think of all of them. We wanted so badly wanted to take that trophy back home." De Villiers had a chance to break the Elliott-Anderson partnership with a run out when, with Anderson nowhere near the crease, he dropped the ball and removed the bails with his hand. "I tried my best to catch it but I didn't. Life moves on. I didn't take that unfortunately, but yes if you want to see it that way that I cost us then I'll gladly take it."
De Villiers said it was no consolation in knowing he had taken part in a classic match. "We play to win games of cricket to take glory home and make a difference in our nation's heart and hope, and we didn't do that. It hurts quite a bit. Gutted. We had our chances and didn't take them."In the final over, the plan was for Dale Steyn to try to lure Elliott into thinking the last two balls would be yorkers but instead they would be length balls. "We were hoping he would play and miss but he played one of the best shots of his life. Probably the best." De Villiers ruled out using the rain as an excuse, despite South Africa losing seven overs when they had set themselves up for a big charge at the end of their innings. "We had opportunities to adjust and we did and I felt it was enough. The chances we had in the second innings showed that it was enough," he said. "So I don't think it played a big role in the game. We always talk about expecting the unexpected, and the unexpected happened today, and we adjusted as well as we could, and it wasn't good enough at the end."

Corporate Corner

ISLAMABAD (PR): Pakistan Telecommunication Company Limited (PTCL), the largest ICT services provider in the country, now brings for the first time in Pakistan, mobility for landline customers’ through its SmartLink application.
The application empowers PTCL customers to dial and receive landline calls through mobile phones on-the-go, anywhere and anytime. The internet based application extends the crystal clear landline calling experience to mobile phones in a simple, smart way at the same affordable landline tariffs. Customers also get high quality and seamless video calling options regardless of location. 
The application, available at no subscription fee or monthly charges, comes equipped with various additional features including instant messaging, access to Smartphone’s contact directory for calls and PIA flight schedule inquiry for on-the-go travelers. SmartLink also enables users to watch 150 PTCL Smart TV Channels. 
Adnan Shahid, Chief Commercial Officer (CCO) PTCL said, “PTCL landline is the pioneer voice telephony service in Pakistan and we are proud to extend the same high-quality calling experience to our loyal users on mobile phones.”
“The SmartLink application is yet another first by PTCL and endorses our continuous efforts to bring innovative technology-led solutions to our customers”, added Adnan Shahid.
The application is currently available in 41 cities and can be easily downloaded from Google Playstore. Apple iOS App is also coming soon and will be made available for iphones. PTCL subscribers can benefit from this application through a simple registration process. 
All voice, video calls and messaging is free-of-cost from SmartLink to SmartLink, while standard landline tariff is applicable for calls to PTCL landline and mobile operators.  

Haier ‘online factories’ 
LAHORE (PR): Haier, the world’s number one major appliances brand for six years running and Pakistan’s leading brand of refrigerators, has announced the setting up of ‘Online Factories’ to serve as a direct link between the company’s research and development resources and end users to create, among other appliances, refrigerators that are packed with smart features which set the industry benchmark for hygiene and consumer health. Haier’s refrigerator range marketed in Pakistan, right from the mini to the top of the line series come with some outstanding hygiene and health features that are exclusive to the brand.
Take for example Haier’s specially developed Anti-Bacterial Technology (ABT®), which automatically eliminates bacteria from the air circulating in the refrigerator compartment, providing a hygienically clean storage zone.
The vegetable tray inside every Haier refrigerator is made of pure virgin plastic. The air tight design keeps fruits and vegetables fresh creating an environment that is resistant to the growth of bacteria in fresh food. Other Haier technologies ensure food freshness at its optimum, automatically spraying fresh fruits and vegetables with vitamin C.
All Haier refrigerators come equipped with a unique removable anti-fungal gasket that sticks to the main body to keep the door tightly closed at all times, sealing in the freshness and isolating it from the harmful ambient environment. The gasket can be easily removed and cleaned unlike other brands with permanently installed gaskets that, over time, encourage the growth of harmful fungus and bacteria.
Haier’s solid GI steel back is built to last a lifetime and is resistant to invasion by rodents unlike the normal paper and plastic material used by the industry and that can be easily degraded by rats and insects. These and other industry leading Haier technologies are a real bonus for health conscious and discerning consumers, attributes that have made Haier the leading brand of refrigerators in Pakistan.

Emirates honours top travel agents in Pakistan
DUBAI (PR): Emirates, a global connector of people, places and economies, held a gala dinner at Armani Hotel, Dubai to appreciate the services of their highest performing travel agents in Pakistan. The glamorous event marked another year of the airline’s successful partnership with travel agents and their respective agencies.
Up to 20 representatives from Pakistan’s most prominent travel agencies were part of the gala. In an evening of exquisite cuisine and dazzling performances, the award-winning airline’s top management honoured the contribution of the travel agents to Emirates’ success in 2014 in characteristic style and elegance.
The attendees dined over a menu of gourmet dishes, whilst being entertained by a selection of classical music performed by a String trio. The venue overlooked the famous and spectacular Dubai Dancing Fountains which added to the glamour and style of the event. 
The event was hosted by Ahmed Khoory, Senior Vice President, Commercial, West Asia & Indian Ocean (WA&IO), Khalid Bardan, Emirates’ Vice President Pakistan and Adnan Kazim, Emirates’ Divisional Senior Vice President, Planning, Aeropolitical and Industry Affairs, who held the position of Emirates’ Vice President Pakistan between 2004 and 2007.
On the auspicious occasion, Ahmed Khoory said: “Emirates airline and Pakistan share a very special relationship that goes back to almost 30 years. The airline’s first flight flew to Karachi in October, 1985 and since then, Emirates has connected Pakistani travellers to a global network spanning which now spans six continents. The airline has steadily grown its network and continued to link the Pakistani community to the UAE as well as to worldwide destinations, making it easier to connect with friends, family and trade opportunities.”
“Throughout this journey, you, our loyal travel agents have been an integral part of our growth, for which we are extremely grateful,” Mr Khoory added. “We look forward to your continued support in the years ahead.”
The Emirates Group employs over 4,000 Pakistanis across its business divisions, including 86 Cabin Crew, 17 Pilots and a team of over 230 based in Pakistan. The airline operates 72 flights a week to five cities including Sialkot, Karachi, Lahore, Islamabad and Peshawar.

Fatima Group at agri expo
LAHORE (PR): Fatima Group has been organizing Pakistan’s largest Agriculture Exposition for the past three years. This year’s Sarsabz Agriculture Exposition was held on the 19th and the 20th of March at the Expo Center Lahore and like previous expositions was a huge success. 
The conference was inaugurated by t Chief Minister Shahbaz Sharif. Also present on the occasion were State Bank Governor, the US Ambassador, CEO Fatima Group Fawad Mukhtar and a large number of dignitaries from the agriculture industry and the government.
Eminent speakers discussed the importance of harnessing the potential of nature and science with regards to the prevalent agriculture practices in Pakistan and several imperative agriculture issues were discussed, which need to be undertaken to ensure best practices in all fields of agriculture.
TheSarsabz Agriculture Exposition serves as a great platform for the industry to exhibit and showcase innovative and new products, services and tools that need to be encompassed in the agriculture practices in Pakistan. A large number of farmers, agricultural specialists, government functionaries, dignitaries and representatives from a cross section of society were also present.
Being the prime sponsorof the event, Fatima Group set up an elaborate stall at the venue which was a great source of information for the farmers and all those who visited the stall. Technical experts were present to address the concerns of the farmers and guidance was extended with regards to the usage of the range of Sarsabz fertilizers.
Established in 1936 and with a success story spanning over seven decades, Fatima Group is one of the most progressive business conglomerate in Pakistan, with a strong and diversified portfolio of products and services, comprising of fertilizers, textiles, sugar, energy, mining and trading. The success and the sustainability of their business synergies is based on prudent and substantial investments in large scale manufacturing plants, efficiently utilizing state-of-the-art technology and perusing excellence in  standards of production and management practices.

Emaar, DHA introduce European styled villas
LAHORE (PR): Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer with a significant presence in key markets world-wide. Besides building residential and commercial properties, the company also has proven competencies in shopping malls & retail, hospitality & leisure and financial services sectors.
Emaar Pakistan is operating two projects under its belt Canyon Views Islamabad and Crescent Bay Karachi.
Taking Canyon Views forward, it is an exclusive gated community spread over 350 acres of land, accommodating over 3000 units. The community projects a mix of natural attractions combined with exceptional architecture and the finest leisure facilities. The project is serving as a benchmark in developing master-planned communities.
Once completed, it shall be a commitment to our promise of providing landmark lifestyles and shall change the real estate scene in the country.
The Villas and Townhomes at Canyon Views Islamabad, stand testament to the lifestyle promised by Emaar and its commitment to quality landmarks. With two villages completely handed over and two underway, a hundred satisfied customers now proudly call Canyon Views Islamabad their home.
The milestones achieved by Emaar Pakistan can be exclusively credited to the UAE government and our local partners that have provided for a conducive business environment. DHA stands as one of the major and most eminent contributors to the success of Emaar Pakistan.
The joint initiative of introducing, high end European styled villas at Canyon Views Islamabad, stands proof to the strong partnership between Emaar and DHA. With the option of 4, 5 and 7 bedroom villas and 2 to 3 bed townhomes and with prices starting from PKR 16 million, Emaar and DHA have introduced a new definition to “Affordable Luxury.

Al Mustafa operates 35 cataract patients 
LAHORE (PR):  Al Mustafa Welfare Trust-UK (AMWT) has operated 35 cataract patients and screened more than 1500 patients during a free-eye camp at Al Mustafa Welfare Hospital Baghbanpura, Lahore. 
Former federal minister and Patron-in-Chief Al Mustafa Haji Muhammad Hanif Tayyab inaugurated the camp.
Chairman AMWT Abdul Razzaq Sajid said that Al Mustafa  arranged free medicines, lenses, eye-sight glasses, food and accommodation for the needy patients. During the camp free medical tests including sugar, blood pressure, Hepatitis B and C were also conducted.
Haji Hanif Tayyab, during his address, said that Al Mustafa was supporting the largest drive of free eye camps in the country. AMWT was setting up eye camps in backward and far-flung areas where local community has not access to medical facilities.
He said Al Mustafa was working in 21 countries of Asia, Middle East, Africa and other poor areas in the world and we would operate some 10,000 cataract patients during current year. After concluding the eye camp, medical team, led by Dr Sohail Ch and Dr Riazud Din, left for Azad Kashmir.

Adidas shifting production from Asia to accelerate sales

HERZOGENAURACH- Adidas plans to speed up production and allow shoppers to customize more shoes and clothes, aiming to accelerate sales and profit growth over the next five years. The German sportswear firm, which has been losing ground for years to fast-growing rival Nike, said it was testing automated production units that would allow it to shift manufacturing from Asia closer to consumers.

"We will bring production back to where the main markets are," said Chief Executive Herbert Hainer, adding the current six weeks it took to ship from Asia to Europe was too long. "Robots can be everywhere."

Manufacturing closer to consumers should allow it to react more quickly to fast changing trends -- like floral prints this spring -- as it seeks to challenge market leader Nike as well as fashion retailers like H&M, which are already much more responsive and are moving into sportswear.

Adidas said it would extend innovations pioneered by its NEO teen fashion brand which gets new products into store in 45 days, compared with a sports industry standard of 12-18 months.

Global brand chief Eric Liedtke, seen as the strongest internal candidate to succeed under-pressure Hainer, said Adidas was seeking to shake up the market in the same way that Nike did when it moved production to Asia in the 1980s.

Liedtke, a former American football player, said the German company's priorities included reversing falling sales in North America, retaining its global leadership in soccer, doubling sales in running and doing more to appeal to female consumers.

Nike has been taking market share from Adidas and is seen as doing a better job at setting trends.

Adidas said it expects sales to grow by almost half to above 22 billion euros ($24 billion) by 2020 and net income to rise around 15 percent per year on average, which Hainer conceded would not translate into a double-digit operating margin.

Hainer faced calls to step down last year after he was forced to abandon the company's previous five-year targets -- including a 2015 goal for a 11 percent operating margin.

"Their main problem is weak profitability and we are hearing very little about that," said Ingo Speich, fund manager for Union Investment which has a 1.3 percent stake in Adidas, who has repeatedly criticized Hainer in the last year.

"The strategy will only be credible under new management as Hainer could not deliver on what he promised."

Trailer release: Mahira, Sheheryar and Adeel all set to take the world by storm

KARACHI: Trailers are so important. Everyone knows that. So when ace ad-film maker Asim Raza decided to share the first promo of his debut feature film Ho Mann Jahaan, he made sure he got it right.

Ho Mann Jahaan is a story about three college friends – played by Mahira Khan, Sheheryar Munawar and Adeel Hussain – who belong to different social classes and are brought together by their undying love for music. The trailer is fresh, it’s colourful, it’s simply fantastic! The one-minute-44-second-long video features all the three leading characters of the film making music, singing songs, dancing, basically having lots and lots of fun.
“I feel most excited because I wasn’t sure if people would understand what I am trying to communicate. It seems it went really well. Seeing the reaction, I am on cloud nine,” a visibly thrilled Asim told The Express Tribune after launching the trailer at an event on Wednesday.

Asim, who is also producing the film, said Ho Mann Jahaan is a “musical film not a musical”. The film’s music is definitely going to be a big hit considering it is coming from a long list of Pakistan’s finest musicians. Atif Aslam, Zeb Bangash, Fakhir Mehmood, Tina Sani, Gumby, Abu Mohammad, Farid Ayaz and Jimmy khan have all contributed to the film’s soundtracks.

“The album is amazing, it’s amazing. It’s not your commercial dhol, dhamaka. You will love the tracks,” Mahira told The Express Tribune.

When asked how she feels now that the trailer has been shared with the audience she said, “We saw the trailer a day earlier and I can’t tell you how I felt. We cried and cried… I cried. For us it’s a really emotional moment. I don’t know what’s going to happen to the film because there’s so much more to it then what you have seen in the trailer. If I can explain it in one word, I am very emotional.”

Sheheryar Munawar, who not only has a lead role in the film but is also its co-producer, too shared his thoughts on the promo. “What you have seen in the trailer is not a fraction of what’s in the film obviously. We were really careful not to give away any part of the story. I am really excited and can’t wait for the film to release.”

The movie’s other lead character Adeel Hussain said, “The experience of working with Mahira and Sheheryar was wonderful. We were in very good hands. From our acting exercises to our training, everything was handled really well. Hopefully you will see that in the final result.”

Ayesha Omar was also present at the event to lend support to her friends. “Oh God it just blew me away! I love it! I really really love it. Asim is fantastic what else can you expect from him,” she said after watching the trailer.

The film is expected to release on Eidul Azha and besides the three main characters features Sonia Jahan, Bushra Ansari, Arshad Mehmood, Nimra Bucha and Jamal Shah in important roles.

Replacing NAB

IN an unexpected but welcome move, the federal government has taken to parliament once again the issue of replacing the National Accountability Bureau with a new statutory body to combat corruption among holders of public office.

While the NAB still limps on — on Tuesday, its executive board has announced investigations into, among other issues, allegations of corruption by the chairman of the Pakistan Agriculture Research Council, a former chairman of the Competition Commission of Pakistan and officials of the sales tax department — it is a body that for all intents and purposes no longer has either the moral mandate or necessary financial and legal resources to combat corruption and promote accountability at the national level.

That the PML-N has announced it wants a consensus inside parliament on the new accountability law will further boost hopes for a fair, transparent and powerful new accountability commission, especially if parties such as the PTI are also brought on board.

There remains, though, a gap between what the government, and the PPP, says it wants to do and what it may end up doing. In the last parliament, where the PPP and PML-N’s roles were reversed, there were at least two attempts to replace the moribund NAB with a new statutory accountability organisation but, after most of the details had been extensively negotiated on, neither the PPP nor the PML-N seemed quite able to get the job done.

While both sides will contend that it was less a disagreement over fundamentals and more about how the new organisation should be structured that thwarted a final agreement, the suspicion remains that the two parties were unable to resolve their differences because ultimately it was not in their interest to do so, and clearly was never a priority.

Will this time be any different? The PTI, if it does return to the National Assembly as seems likely, could be another complicating factor, now. While the PTI’s input could lead to a more muscular and independent accountability commission, the party has a tendency to undermine negotiations with its abrasive approach.

It remains to be seen whether the cooperative PTI or the populist, politician-baiting PTI will appear at the negotiating table — if the government does move ahead with the new bill presented in the National Assembly on Tuesday.

Finally, there is a broader issue here: much as an accountability commission is needed, that very need suggests the system itself requires overhaul.

Be it the judicial system, checks and balances within government departments or the regulatory framework for how government and the private sector interact, little works as it should — which is why accountability is such an overarching issue.

How much would corruption be reduced and accountability promoted if the normal systems of oversight were also to be strengthened? Parliament would do well by looking beyond just creating a new accountability commission.

Germanwings jet was deliberately crashed

PARIS- The co-pilot of the Germanwings airliner that crashed in the French Alps killing all 150 people aboard appears to have brought the A320 Airbus down deliberately, the Marseille prosecutor said today.

German Andreas Lubitz, 28, left in sole control of the Airbus A320 after the captain left the cockpit, refused to re-open the door and operated a control that sent the plane into its final, fatal descent, the prosecutor told a news conference.

The French prosecutor said Lubitz was not known as a terrorist and there were no grounds to consider the crash as a terrorist incident. Recordings suggested passengers' screams began just before the final impact, he said.

Earlier, a German state prosecutor had said that just one of the two pilots of the Germanwings airliner was in the cockpit at the time it went down.


The statements came after the New York Times reported that "black box" recordings showed one of the pilots had left the cockpit and could not get back in before the plane crashed.

"One was in the cockpit and the other wasn't," Christoph Kumpa at the prosecutors' office in Duesseldorf told, adding that the information came from investigators in France.

Investigators were still studying voice recordings from one of the "black boxes" on Thursday while the search continued for a second in the ravine where the plane crashed, 100 km (65 miles) from Nice.

The recordings did not make clear why the pilot left the cockpit or why he could not regain entry as the plane steadily descended toward a mountain range in a remote area of the French Alps on Tuesday.

"The guy outside is knocking lightly on the door and there is no answer," an investigator described only as a senior French military official told the New York Times, citing the recordings. "And then he hits the door stronger and no answer. There is never an answer."

"You can hear he is trying to smash the door down," the investigator added.

Australia reach final, India miss the World Cup crown

Sydney- Steve Smith's sublime century laid the groundwork and Australia's pace bowlers finished the job to send the co-hosts storming into a seventh World Cup final with a 95-run victory over champions India today.

Australia move on to the Melbourne Cricket Ground and a shot at a fifth title against New Zealand on Sunday, while India head home after four months Down Under having come up short in their bid to retain the title they won four years ago.

Smith's 105 helped Australia to a total of 328 for seven, the highest in a World Cup semi-final, and although skipper Mahendra Singh Dhoni hit a defiant 65 in what might be his final one-day innings, India were dismissed for 233 in the 47th over.

India might have fancied their chances of chasing the target down after making a solid start on a good pitch in perfect weather conditions and backed by the majority of a noisy crowd of 42,330 at the Sydney Cricket Ground.

Mitchell Johnson and Josh Hazlewood had other ideas, however, and they tore the heart out of India's top order by sending Shikhar Dhawan (45), Virat Kohli (1) and Rohit Sharma (34) back inside six overs.

When James Faulkner, who had been hammered for 23 runs by Dhawan in his first two overs, got into the act by dismissing Suresh Raina (7), India had lost four of their most coveted wickets for the addition of just 32 runs to fall to 108-4.

Johnson's bowling was as potent as it has been all tournament and the delivery that clean bowled Rohit a ball after the opener had the temerity to hit him for six sent one bail flying 20 feet behind the stumps.

Dhoni and Ajinkya Rahane (44) set about rebuilding the innings with a partnership of 70 but when the captain was run out ambling down the wicket by a direct hit from Glenn Maxwell, the die was cast.

Faulkner added a flourish by bowling Ravichandran Ashwin and Mohit Sharma in successive deliveries to finish with 3-59 but Umesh Yadav blocked the hat-trick ball.

Smith had earlier reprised his role as India's tormentor-in-chief, rarely looking troubled in his 122-minute, 93-ball knock and sharing a second-wicket partnership of 182 with opener Aaron Finch (81).

The 25-year-old hit 11 fours and two sixes to give India a rude reminder of his prolific form in the test series around New Year, when he scored a century in all four matches.

He secured his fourth straight half century at the World Cup in 53 balls and was soon surging towards his fourth ODI century, which he secured from 89 balls with a six and a four off successive deliveries.

With Yadav (4-72) to the fore, however, India struck back to remove Smith and then the power-hitters in Australia's middle order.

A late Johnson cameo of 27 not out off nine balls, however, helped bolster Australia's tally and India will rue their failure to dismiss their opponents for the first time in eight matches at the World Cup.

Bollywood films not for children in Aamir Khan's opinion

Seems like lately Aamir Khan has been very disappointed with the Indian film industry. First it was the AIB roast, now it’s the content in Bollywood films.

The Taare Zameen Par star complained that 80 per cent of children in India are forced to watch the content that Bollywood makes because of a lack of variety in Bollywood films. He asserted how this situation is becoming increasingly “scary”.

“If you look at our children’s content, it’s almost negligible, and the little that I see is very scary…” said the actor who has three children of his own.

“It scares me to see the kind of children’s content they are making. We as a creative industry or media have a huge opportunity in front of us. Huge opportunity in building the nation with how we make children perceive what is honesty. Today, unfortunately, we are in a time where dishonesty is looked upon. How do we bring in a quality that people can admire?”

The actor is worried and in despair about what Bollywood is producing nowadays with no regard to the fact that children are also part of the audience who just as eagerly flock to cinemas to watch these films.

Govt to engage top experts to tackle environmental issues

ISLAMABAD: Climate Change Federal Minister Mushahid Ullah Khan on Wednesday firmly decided to bring together highly-qualified environmental and climate change experts, scientists, and researchers of the country on one platform and utilize their expertise for tackling environmental issues, boosting country’s climate resilience and achieving sustainable development goals for country’s overall socio-economic development.

Youth and women, who are actively playing their part for raising awareness about environmental issues, will specially be taken on board and their participation will be appreciated in this regard, the minister stressed.
During an important meeting held here at the Foreign Office, the Minister, Mushahid Ullah Khan and Prime Minister’s Foreign Affairs and National Security, Advisor, Sartaj Aziz have agreed that such platform, where these experts would be brought together to play their effective role, can help country cope with various environmental issues, particularly deforestation, air and water pollution, illegal wildlife trade and harmful effects of climate change on different sectors of economy.
They also took stock of the Multilateral Environmental Agreements (MEAs), protocols and conventions to which Pakistan is signatory and said that country’s environmental profile can be improved and climate-resilience strengthened significantly through enforcements of the decisions and directives of the MEAs, protocols and conventions.
The Minister Mushahid Ullah Khan said, “Compliance with the international environmental protocols, conventions and agreements is difficult without cooperation of the provincial governments, particularly in the aftermath of the 18th amendment under which the environment subject was devolved to the provinces.
Pakistan is signatory to 16 international MEAs and different protocols and conventions on environment and climate change. Both sides also discussed current status of Millennium Development Goals (MDGs) and Sustainable Development Goals (SGDs).
The SDGs follow, and expand on, the MDGs, which were agreed by governments in year 2000, and are due to expire at the end of this year. Matters regarding increasing collaboration coordination between federal and provincial governments also came under discussion.
Mushahid Ullah Khan and Sartaj Aziz, however, emphasized the need for the coordination between the federal climate change and provincial environmental departments is must for effective implementation of relevant environmental policies and laws including the National Climate Change Policy.
“Policies formulated by the CCD, such as the National Climate Change Policy, cannot be termed effective unless provincial environment departments cooperate on the implementation,” Aziz cautioned. “The subject of environment was devolved to the provinces as a result of the 18th Amendment, making the provincial governments responsible for formulating and enforcing environmental laws for tackling environmental degradation and developing mitigation and adaption plans at provincial and sub-provincial levels for boosting climate resilience of the provinces,” Mushahid Ullah Khan highlighted.
The Climate Change Minister’s Secretary, Arif Ahmed Khan, was also present during the meeting, who also shared his views in this regard. “Efforts have already been taken for implementation of the National Climate Change Policy of Pakistan and provincial governments in this regard have been approached to extend their cooperation for the policy’s implementation,” he told the meeting.
Arif Ahmed Khan said further that unprecedented significance of cooperation of the provincial governments, which is key to successful implementation of the climate change policy, has also been conveyed to the provinces. However, provinces have also assured the Climate Change Ministry of their fullest cooperation regarding the policy implementation, the secretary said.

SECP wants companies offering right shares to provide all-encompassing disclosures

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has enhanced the disclosure requirements for companies, offering right shares and as per new disclosure policy, the companies would have to provide detailed and all-encompassing disclosures to their prospective investors.

The new robust disclosure requirement has replaced S.R.O. issued on the subject in 1986 aimed at enabling the prospective investors to make well-thought-out and informed decisions, says a statement issued by the Commission hereon Tuesday.

The new circular empowers investors to make a risk assessment and undertake a benefit analysis based on true certified information provided by company.

Under the 1984 Companies Ordinance, companies are empowered to enhance their capital by offering right shares to all their members in proportion to their existing shareholding. The right offer letters are traded on the stock exchanges and are renounceable therefore the right share can be subscribed by other investors as well.

The newly prescribed disclosure and certifications requirements, as incorporated in the revised circular, are in line with the best international practices wherein renounceable right is categorized as public offers thereby requiring detailed disclosure synonymous to a prospectus.

The superseded circular required very brief information and failed to provide a complete picture of company, its directors/management, the details, benefits and utilization of proceeds of proposed right issue and risks associated with the company. The revised circular has thus addressed these deficiencies by incorporating additional disclosure requirements.

The companies offering right shares are required to provide detailed information about the company, profile of its management, financial highlights and capital raised during previous three years.

Moreover, the companies shall disclose the basis of determination of price of right issue, purpose of the right issue, financial projections for next five years reflecting the financial effects arising from right issue.

The company shall also disclose the risks associated with the proposed right issue regarding any underlying project, material contingencies and effects of under subscription. Also particularly for subscribers, the revised circular requires disclosure of the eligibility criteria to avail the right offer, bankers to the offer, date and mode of acceptance of offer.

A company offering right shares to its members shall send information as prescribed by the revised circular duly accompanied by extract of resolution passing the right issue and certificate of chief executive and CFO that the circular constitutes full and true disclosure of all material facts relating to the right issue and commitment that the Company will provide copies of financial statements on demand.

The board of directors of the company is empowered to issue right shares.

The revised circular therefore aims at strengthening disclosure requirements for companies thereby giving full information to members regarding the proposed right issue.

KSE-100 index slips by 225 points on investors’ dull interest

KARACHI: Karachi Stock Exchange (KSE) remained dreary on investors’ cautiousness and waiting clarity over Foreign Institutional Investor (FII) selling.

Traders at local bourse on Wednesday did not give much weight to Prime Minister’s visit to bourse.

KSE-100 index lost 224.22 points to close at 31,086.51 points as compared to 31,310.73 of the previous session. The KSE-30 Index shed 145.14 points and closed at 19,796.49 points against 19,941.63 points of last closing.

Faisal Bilwani of Elixir Securities said Pakistan equities closed red after listless trading with benchmark testing key support level of 31,000 in absence of buyers with turnover lower by near 30 percent versus previous weeks’ average.

Despite off market trades indicating exit to foreign investor trying to offload few illiquid names and no reports of large quantities on offer from foreign investors, locals were in no rush to buy at current levels and continued to await clarity on flows direction. Retail driven names Pak Electron (minus 4.6 percent) and Hascol Petroleum (minus 5 percent) hit lower limit near close of day on rumors of broker’s shedding margin holdings.

We expect some recovery in wider market with yield plays attracting fresh flows however we do not see aggressive local institutional participation till foreigners emerge as net buyers, said Bilwani.

Habib Metropolitan Financial Services’ analyst Kumail Chevelwalla said, “The bearish sentiments are still in place with KSE-100 index closing at 31,086 points as lackluster trading witnessed having a turnover of only 99 million with support at 31,000 points”.

KSE index closed another session in negative territory. Commercial banks churned majority of volumes where Askari Bank closed at its lower price limit with 2.8 million turnover. Cement was also dipped in red where Maple Leaf Cement and D G Khan Cement closed lower with 6.4 million and 1.8 million traded volume respectively. Investors are still afraid of taking long positions in oil and gas stocks on account of gloomy outlook of international oil, he added.

“With significant foreign outflow this month, we recommend investors to remain cautious in selecting stocks”, said Chevelwalla.

The market volume decreased to 99.206 million shares traded on Wednesday as compared to 128.303 million shares traded in previous session. The overall market capitalisation declined to Rs 6.924 trillion as compared to Rs 6.971 trillion of previous session.

Trading value at local bourse fell to Rs 6.105 billion against Rs 8.687 billion of previous session. Out of 330 scrips, 70 scrips advanced, 231 scrips declined while the value of 29 scrips remained unchanged.

The KMI-30 index dropped by 486.30 points to close at 51,379.40 points as compared to 51,865.70 points of the previous session. The KSE all-share index went 149.24 points down to close at 22,236.17 points as compared to 22,385.41 points of the previous session.

Pak Elektron was the volume leader in the market with 9.072 million shares as it closed at Rs 48.39 followed by Maple leaf Cement XD with trading of 6.476 million shares and closed at Rs 51.36. Karachi Electric Limited traded 5.403 million shares and closed at Rs 7.01.

SC disqualifies PML-N minister over dual CNICs

ISLAMABAD: The Supreme Court on Wednesday disqualified Punjab Prisons Minister Chaudhry Abdul Waheed Arain for holding two national identity cards, while terming it a violation of articles 62 and 63 of the constitution. The three-member bench of the apex court headed by Justice Mian Saqib Nisar comprising Justice Sh. Azmat Saeed and Justice Mushir Alam resumed hearing of the petition filed by Ch Abdul Waheed Arain against Election Tribunal’s decision over his disqualification for holding two CNICs. The bench dismissed the provincial minister’s appeal and maintained the Election Tribunal’s order. Meanwhile, the Supreme Court restored the membership of Pakistan Muslim League-Nawaz (PML-N) MNA Hamid Hameed and suspended Election Tribunal (ET) decision for disqualifying him besides issuing notices to the parties concerned. The three-member bench of the apex court heard the appeal filed by Hamid Hameed against ET order over his disqualification from NA seat. The ET had de-seated Hamid Hameed on a petition filed by his rival candidate, Barrister Abdullah from PTI for concealing assets of 278 kanal land while filing nomination papers. The court was told during the course of hearing that Hamid Hameed had not concealed any of his assets and he had provided all the record to Election Commission (EC) with regard to his assets and he was allowed to contest the election for this reason too. 

Zaeem urges MQM to support Karachi operation till completion

ISLAMABAD – Punjab government spokesman Zaeem Qadri on Wednesday urged the Mutahida Qaumi Movement (MQM) to support Karachi operation as it was launched with the support of all the political parties including the MQM itself.

Operation was the only way to restore peace in Karachi and all the political parties should support it till completion, he said while talking to a news channel. He said that every political party would get benefitted if peace was established in Karachi after the operation. He said eliminating any criminal/suspicious element from the party was not only in favor of that particular party but for the whole country.

He said that after the agreement between the government and the Pakistan Tehreek-e-Insaf (PTI) regarding establishment of Judicial Commission to probe rigging allegation, the things were heading towards right direction. Both the parties had shown flexibility over the issue, he said, adding, the judicial commission was not for the PTI or the Pakistan Muslim League-N specific rather its benefit would be across the board. The spokesman said that it was the right of the PTI to present any evidence, if it had, before the judicial commission regarding rigging in general elections.

Rangers fear covert release of prisoners from Karachi jails

Karachi- Rangers have expressed fears of underground replacement of prisoners in different jails of Karachi.
Rangers have requested the Ministry of Interior to get documents of suspicious prisoners verified through National Database and Registration Authority (Nadra).
According to Nadra sources, surprising details have been unearthed about four prisoners. The documents of these prisoners do not match the record in jail. It is suspected that four of the prisoners have been released while some impostors are incarcerated to serve the remaining term in place of actual criminals. Interior Ministry has also ordered Sindh Rangers to probe the matter.

Pakistan might send troops to Yemen

ISLAMABAD- Pakistan is considering a request from Saudi Arabia for troops to send to Yemen, the foreign office said today.

"We have been contacted by Saudi Arabia," said spokeswoman Tasnim Aslam in response to a question about whether Pakistan would send troops. "The matter is being examined."

Saudi Arabia and Gulf region allies launched military operations including air strikes in Yemen on Thursday, Saudi officials said, to counter Iran-allied forces besieging the southern city of Aden, where the U.S.-supported Yemeni president had taken refuge.

Gulf broadcaster al-Arabiya TV reported that the kingdom was contributing as many as 150,000 troops and 100 warplanes to the operations and that allies Egypt, Jordan, Sudan and Pakistan were ready to take part in a ground offensive in Yemen.

Stock market nosedives by 904 points during inter-day trading

KARACHI: Bearish sentiments prevailed on the Karachi bourse on Thursday, as the benchmark index declined by as much as 2.9%, or 904 points, during inter-day trading.

However, the Karachi Stock Exchange (KSE)-100 Index recovered some loss later on and stood at 30456.8 points, down 1.9% from the start of the trading session, around 2:25pm.

Adam Securities analyst Fahad Hussain Khan speaking to The Express Tribune, said the market is under pressure due to heavy selling by foreign funds. Political uncertainty in Karachi has also led investors to sell their holdings, he added.

“Foreign selling is pushing the index into the red zone. Cement and banking sectors are particularly under pressure,” Khan said.

The KSE-100 Index is down today although just yesterday Moody’s upgraded Pakistan’s foreign currency government bond rating from stable to positive – something that should have triggered bullish sentiments in the market.
The decline in share prices has been across the board so far, although a few stocks like OGDC, Pak Oilfields, Murree Brewery, Ismail Industries and Nestle managed to inch upwards during the inter-day trading.

Trade volumes on Wednesday touched their six-month low point, as only as 99 million shares were traded worth Rs6.1 billion.

Read: Market watch: Bourse continues dismal run, tests 31,000 level

The volume traded until 2:47pm clocked up at 218.8 million shares with the value of shares traded clocking up at Rs10.3 billion.

Government taking all steps to overcome energy crisis: PM

PESHAWAR: Prime Minister Nawaz Sharif on Thursday said that the government is taking all steps to overcome the energy shortfall in the country.

“The day is not far when the nation will hear good news in this regard,” the premier said.

Nawaz was addressing Pakistan Muslim League-Nawaz (PML-N) senators, MNAs, MPAs and office bearers at the Governor House in Khyber-Pakhtunkhwa (K-P).

He said that the economy is heavily dependent on energy and overcoming this challenge will lead to improvement in the industrial and agricultural sectors.

“This would also allow the government to increase spending on the social sector to facilitate the common man,” Nawaz said.

Regarding military operation Zarb-e-Azb and the operation underway in Karachi, Nawaz affirmed that they have yielded encouraging results.

“We are eliminating terrorists and criminals with full force and will not rest till the elimination of the last terrorist,” he said.

“No armed militia would be allowed to operate in the country,” he added.

Speaking about the operation in Karachi, the premier said that it is not directed against “any specific group or party but is against target killers and criminal elements.”

Further, Nawaz said that economic development in the country will create employment opportunities for the people and will play a crucial role in eliminating terrorism from the country.

He said because of ‘effective’ economic policies of the government, tangible results are being achieved and are being recognized by the international media.

Nawaz went on to say that the PML-N government believes in the politics of consensus and tolerance, and has been taking all political parties along on all matters of national importance. He also said that the government has initiated the policy of improving relations with neighbouring countries, especially Afghanistan.

Naya Khyber-Pakhtunkhwa

Later, addressing PML-N supporters in Peshawar, the premier vowed to build a ‘Naya K-P’.

“You were promised a Naya Pakistan. But I promise you that the start of Naya Pakistan will be from Khyber-Pakhtunkhwa,” Nawaz said.

Further, the prime minister announced that the government will build a motorway connecting Peshawar to Karachi.

“We will bring all the provinces closer,” he said.

China vows to deepen maritime security ties with Pakistan: report

BEIJING: China on Thursday vowed to deepen maritime security, anti-terrorism, security and military cooperation with Pakistan to further strengthen their ‘all-weather’ strategic ties.

The “pledge” was made by Chinese Central Military Commission Vice Chairperson General Fan Changlong during his meeting with Pakistan Navy Chief Muhammad Zakaullah in Beijing.

Fan said China hopes to enhance coordination and cooperation with Pakistan on regional security affairs.

“China is willing to deepen cooperation with Pakistan in anti-terrorism, maritime security and military technology,” Fan said.

China together with Pakistan will push for the construction of the Pakistan-China Economic Corridor within the construct of China’s “Belt and Road” initiatives.

Zakaullah said that Pakistan will work with China to deepen logical cooperation between the two armed forces.

Previously, the Pakistan naval chief said that Pakistan Navy and PLA Navy are strengthening their existing maritime cooperation, keeping in mind the changing regional international scenarios.

Yesterday (Wednesday) Zakaullah met with Commander of the PLA (Navy) Admiral Wu Shengli and said that the navies of Pakistan and China have been cooperating for decades.

He said that military cooperation between the two countries is extensive and it covers equipment, personnel exchanges and joint exercises.

Zakaullah said Pakistan strongly supports PLA Navy’s enhanced role in the international arena.

Uniform prayer timings in capital under consideration, govt tells NA

ISLAMABAD: Government informed the National Assembly on Thursday that it was consulting religious scholars from all sects to introduce uniform prayer timings in the federal capital.

“We are making efforts to introduce uniform timings for Azaan (call for prayer) in Islamabad and a decision is likely to come through in a week, over which the nation would be happy,” Minister of State for Religious Affairs Pir Aminul Hasnat said.

Responding to a question, Hasnat said a meeting in this regard had taken place on Wednesday with scholars from all the sects and an agreement was reached over timings of four prayers.

As per details, the government has decided to implement a uniform system in the federal capital under which Azaan (call of prayers) timings will be fixed while Salat (prayers) would be also offered at one particular time throughout the capital.

“Once an agreement is reached, after consultation with the scholars we will bring it to the National Assembly,” Hasnat added.

However, the state minister said that there were some forces that wanted to sabotage the effort by propagating a negative impression in the media.

Referring to media reports that “the move was aimed at bringing the Saudi system” the minister said it was not the factual position.

“After the success over uniform timings in Islamabad, we will replicate it in other cities,” he added.

Addressing the concern of Pakistan Muslim League-Nawaz MNA Major (retd) Tahir Iqbal regarding rumours in his constituency Chakwal that loud speakers for Azaan will be banned, Hasnat said,  “There is no such proposal under discussion.”

Further, regarding registration of seminaries, the minister added, “Registration of Madrassas is not something new as it has been in practice since 2005.”

However, he said that the representatives of seminaries have suggested there should be one consolidated form about information the authorities need, instead of many.

Iran condemns Saudi strikes in Yemen as 'dangerous step'

TEHRAN: Iran condemned regional rival Saudi Arabia on Thursday for launching air strikes on Huthi rebels in Yemen, saying it was “a dangerous step” that violated “international responsibilities and national sovereignty.”

Foreign ministry spokeswoman Marzieh Afkham said that the military action would “further complicate the situation, spread the crisis and remove opportunities for a peaceful resolution of Yemen's internal differences.”

“This aggression will have no result except to spread terrorism and extremism, and increase insecurity throughout the region,” she said in a statement, calling for an immediate halt to the air strikes.

Her comments were echoed by Alaedin Boroujerdi, the head of the Iranian parliament's national security and foreign policy committee, who accused Saudi Arabia of irresponsibility.

“The fact that Saudi Arabia has fanned the flames of a new war in the region shows its carelessness,” he said, in comments carried by the Fars news agency.

“The smoke of this fire will go into the eyes of Saudi Arabia as war is never limited to one place only. We hope this military operation will be halted immediately and the Yemen problem solved through political means.”

The Huthis and their allies within the armed forces had been closing in on Yemen's main southern city Aden where embattled President Abedrabbo Mansour Hadi has been holed up since fleeing the rebel-controlled capital Sanaa last month.

The advance had raised fears in Saudi Arabia that the Shiite minority rebels would seize control of the whole of its Sunni-majority neighbour and take it into the orbit of Shiite Iran.

Boroujerdi accused the United States of backing the Saudi air strikes.

“America, which leads the fire mongering in the region, has supported this act and no doubt Saudi Arabia and some countries in the Arab cooperation council would not get involved without America's permission,” he said.

“Having imposed long years of crisis in Iraq, Syria and Afghanistan, America has in practice started another crisis and massacre on the Islamic world and this act is strongly condemned,” he added.