KARACHI: Muttahida Qaumi Movement’s Rabitta Committee has strongly condemned what it called the artificial sugar crisis created by hoarders.

In a statement issued here on Sunday, Rabitta Committee demanded of the government to take serious steps in overcoming the prevailing sugar crisis across the country. “The big fish involved in the creation of crisis be arrested and brought to law,” it added.

MQM said common people are being shoved in long queues for getting sugar, making every effort but the commodity remains out of their reach.

“Some high political figures are part of the sugar scandal, and their identification is necessary,” said Rabita Committee

It said the present sugar crisis following the shortage of Atta is a conspiracy aimed at undermining the government. “The government will have to cast away the black sheep among them.”

The Committee said that the government continues to show non-seriousness towards addressing the real issues of the people.

LAHORE: Secretary General of Pakistan People’s Party Jehangir Badar has said that the former president Pervez Musharraf has become disoriented because he (Musharraf) thinks he is still in power.

Talking to media while attending the death anniversary of the mother of ANP leader Sohail Malik here on Sunday, Jehangir Badar said a move against Pervez Musharraf is possible under Article-6 of the Constitution.

He said he did not need to obtain pre-arrest bail in case the issue of NRO is brought before court. “Proceedings of my case are already in progress in the High Court,” he added.

Jehangir Badar said the law enforcement agencies are fighting the war of country’s security, therefore, no compromise can be made with the terrorists.

DERA GHAZI KHAN: Ameer Jamaat-e-Islami (JI), Syed Munawar Hasan has said that military operation in South Punjab not in the interest of the country, saying after operation, terrorists incidents have been increased in the country.

Addressing “Go America Go” rally here, the Amir JI said that the blasts and terrorism posing threat to country‘s integrity and termed it a conspiracy to destroy the peace of the region and to dismember Pakistan.

The Ameer JI further stated that the United States wants to dismember Pakistan but peaceful people of the country would foil all nefarious designs of enemies.

Talking on NRO, Syed Munawar Hasan said that the nation rejected black laws of NRO and Kerry-Lugar Bill, adding in case of approval of NRO, every one would have free hand to plundering the wealth of the country.

ISLAMABAD: Federal Minister for Overseas Pakistanis, Dr. Farooq Sattar has accused ruling PPP has carried out the worst and historic rigging in the Gilgit-Baltistan election.

While addressing an emergency press conference here in National Press Club on Sunday, Dr. Farooq Sattar has said that PPP supporters have not only harassed the polling station staff but has committed the worst ever rigging in the Gilgit-Baltistan election.

He said that record rigging was carried out by PPP supporter in GB LA-3 and voters of the MQM and supporter of Capt. (r) Hadi had been constantly harassed and expelled from the polling stations.

He further alleged government that state machinery was used in pre-poll rigging. He said that MQM candidate Capt. (r) Hadi had tried to call police but police turned deaf ears to his plea.

While replying to a question he said that the ballot box of the polling stations where the MQM’s vote turn-out remained high went missing. He further said that election results have been deliberately changed by recounting of votes again and again.

He said that non-governmental organizations have also issued their reports about the rigging in Gilgit-Baltistan election.

It is premature for MQM say anything with regarding to joining the GB government, he added.

Mumbai: Despite the government was prepared for the worst, the storm has spared Phyan Mumbai. Now it moves into northern Gujarat, but has weakened considerably.

The system over the Arabian Sea is likely to move toward the northeast and north-south Gujarat Cross and the north coast, close to Valsad Maharashtra, near Mumbai, on Wednesday night.

Importantly, Mumbai, has only been spared a direct hit, but the threat remains and heavy rains are expected later in the afternoon.

The Phyan is now located about 180 km south-southwest of Mumbai and 430 km south-southwest of Surat.

Gale winds of 70-80 km / h gusting to speeds reaching 90 km / h is likely along and off south coastal Maharashtra and Gujarat during the next 24 hours. Sea state is high to very high throughout most of and outside Maharashtra and south Gujarat coasts.

The swell of about 1 meter above the tide level is likely to Alibagh, Raigarh, Greater Mumbai and Thane and Valsad in Gujarat at the time of landfall.

The cyclone is said to be of moderate level of 6. The highest level is 9. The Met Department has issued an orange alert, which is a lower level to red alert. The next update is due at 17:30 pm today.

Under its influence, rainfall at most places with heavy to very heavy falls at a few places and isolated extremely heavy falls (= 25 cm) is more likely to Konkan and Goa, Maharashtra and south Gujarat region in central the next 24 hours.

Previously, fearing the worst, all schools, colleges and offices in Mumbai and surrounding areas were ordered to close the evening in view of the cyclone is approaching.

- “All schools and offices have been instructed to close the day considering the weather that is likely to worsen,” BMC Maheshkar additional one commissioner told reporters.

While schools have been asked to close at 1 pm, the offices have reported about 2 pm, Maheshkar said after a high-level meeting chaired by Chief Secretary Johny Joseph in Mantralaya.

Joseph, after reviewing the situation and preparing to face the cyclone, at a meeting of the Disaster Management Cell, assured the public that the Administration is prepared for the situation. Also reported that six rescue teams and nine teams from the Navy are on hold. All rooms 24 Control of BMC have also been activated.

BMC has also asked people to avoid approaching the beaches, while asking to leave the low areas.

For his birthday The Husband got a new batch of DVDs (funny movies or movies with happy endings was his request), and Meet the Robinsons (2007) is the one The Daughter gave him. We watched it last night. My brain hurts. I kept having trouble thinking about time travel paradoxes. Some of these characters look an awful lot like characters in The Incredibles. It was a sweet enough flick, I guess.
The New York Times says it “is surely one of the worst theatrically released animated features issued under the Disney label in quite some time.” Variety calls it “a sharp-minded, plenty entertaining toon”. The BBC calls it “wearisome”.

WASHINGTON: The US economy shrank at a one-percent annual rate in the second quarter of 2009, according to a preliminary estimate by the US Commerce Department.

The figure was better than economists expected and signals that the longest US recession since the Great Depression of the 1930s has slowed dramatically.

But first-quarter gross domestic product (GDP) was revised down sharply to a 6.4-percent contraction, the worst three-month stretch in 27 years, from a 5.5-percent drop reported last month by the department’s Bureau of Economic Analysis.

Economists had forecast about a 1.5-percent contraction in the second quarter of the year. Friday’s figure was the first of three estimates.

KARACHI: Marketing companies have reduced LPG price by Rs 2 to 3/ kg.

Chairman LPG Distributors Association Abdul Hadi Khan stated this while talking to Geo News. He said the price of 11.8 kilograms cylinder has been reduced by Rs.30 to 35.

Excessive imports, price cut by $17 per ton in international market and competition are the reasons of price slash. Per kilo price could further decrease if relaxation in sales tax will be given, he added.

KARACHI: Fresh buying at Karachi Stock Exchange (KSE) Friday contributed healthy 229 points to the benchmark KSE-100 Index which finished the week at 7,720.

The market opened upbeat and remained in the green territory throughout the two session at weekend.

The investors actively invested in the stock market following the statement of the Finance Minister Shaukat Tarin regarding more financial assistance from IMF to the country.

The trade volume was recorded at 200 million shares.

Fauji Cement continued to remain on top in terms of volume which gained paisas 20 to close at Rs8.40.

Market analysts hold a positive outlook of the market in the next week on expectations of positive financial results from the companies.

AMSTERDAM: Earnings in the three months to June dropped to $2.3bn (£1.4bn) from $7.9bn last year, while first-half figures showed a 64 per cent drop to $5.6bn.

With the oil price still around $63 per barrel, a far cry from last year’’s $147 high, the outlook for the sector is tricky and Shell is instituting a major restructuring programme to meet the changing conditions.

“Energy demand is weak. There is excess capacity in the market, and industry costs remain high,” Peter Voser, the chief executive of Shell, said. “Conditions are likely to remain challenging for some time, and we are not banking on a quick recovery. Shell is adapting to this new situation, and we must do more. We are sharpening our focus on delivery and affordability.”

Mr Voser has not wasted any time. He has been in the top job for less than a month. But immediately on taking over from Jeroen van der Veer, his predecessor, the new boss announced plans to reorganise the company, simplifying its structure in order to speed up both decision-making and implementation, as well as helping reduce costs.

Some 24,000 of the group’’s more than 100,000 staff could be at risk from the scheme, and 150 executives – or a fifth of Shell’’s management tier – have already been axed. Mr Voser was not willing to provide any numbers yesterday, but “substantial further staff reductions are likely”.

“We are stripping away layers and overlaps that are of no value and putting more focus on frontline activities,” he said. “This really means fewer people thinking about strategy and more people implementing.”

The group is also putting in place significant cost-cutting measures. It has taken out $700m in the first six months of the year, and foreign exchange benefits contributed a further $2bn. But capital expenditure will come down by 10 per cent to $28bn next year and there will be more cost-cutting opportunities to come.

Mr Voser said: “I would go as far as to say that we shall generate cost savings opportunities, which will run into billions of dollars.”

With $60bn spent every year on contracting and procurement – equivalent to an eye-watering $150m per day – cost-saving negotiations with the group’’s 12,000 suppliers across the world are likely to be a priority.

But the picture is not all doom and gloom. Shell’’s performance came in broadly in line with that of rival giant BP, which reported second-quarter profits down 53 per cent earlier this week. And despite the woebegone economy, Shell is upping its quarterly dividend by 5 per cent to 42 cents per share and the total interim dividend also by 5 per cent to 84 cents.

Even with the curtailed capital investment plans, the company is sticking to its target for annual production growth. “This is not about tearing up our strategy,” Mr Voser said. “Upstream, Shell is still set to deliver between 2 per cent and 3 per cent growth into 2011 and 2012, and we have options in the portfolio that can deliver growth to 2020.”

The company will stick to plans to invest $3bn this year in exploration and appraisal and has made six new exploration discoveries already. The plan is for a further 1 million barrels of oil equivalent per day of upstream capacity. Also, since January, new production has started up at both Sakhalin II in Russia and Parque das Conchas in Brazil.