In-camera parliamentary session to resume today

ISLAMABAD :The in-camera session of both houses of Parliament will resume at the Parliament House here on Monday at 2pm.

Speaker National Assembly Dr Fehmida Mirza will preside over the joint session to be held after a break of two days.

During the last three sessions, attendance of the ruling party’s lawmakers remained relatively low, while party leadership had been instructed to ensure the presence of all members in the session.

Sources told that Federal Minister Khursheed Shah has contacted party’s members and advised them to attend the session.

It is expected that parliamentarians will continue the debate on government’s briefing about overall security situation in tribal areas.



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World oil prices higher amid talks of Opec production cuts

SINGAPORE :World oil prices rose in Asian trade on Monday amid growing signs that Opec will announce production cuts at a special meeting in Vienna this week, dealers said.

New York's main contract, light sweet crude for November delivery was 1.12 dollars higher at 72.97 dollars a barrel from its close of 71.85 dollars Friday in the United States.

Brent North Sea crude for December delivery gained 95 cents to 70.55 dollars a barrel.

Crude prices have halved in value from record highs of above 147 dollars struck in July, prompting calls from key Opec members that the oil cartel should cut its output targets to shore up prices.

President Hugo Chavez of Venezuela was the latest to lend his support for an output cut by the Organisation of the Petroleum Exporting Countries (Opec), whose 12-member countries together pump about 40 percent of the world's oil.

"Our position for the past 10-plus years has been that we have to manage oil production," Chavez told AFP Sunday, ahead of the October 24 meeting.

"Now that the prices are coming down, we are going to take (to Opec) the proposal of cutting production," Chavez said during a visit to an oil pipeline project in Cumana in northeast Venezuela.

The cartel's special ministerial meeting in Vienna on the impact of the financial crisis on oil prices has been brought forward to October 24 instead of November 18.

"Pressure is building up within Opec to make output cuts when they meet this week," said Victor Shum, a Singapore-based analyst with international energy consultancy Purvin and Gertz.

"So the market right now has priced in some cuts," he said.

OPEC, led by the world's biggest oil exporter Saudi Arabia, has not officially indicated whether production levels would be altered at the meeting but its current chief Chakib Khelil said the cartel should order a "substantial" cut in oil output.

"There will be a reduction in production at the next extraordinary meeting of Opec, and it will have to be a substantial one to get the balance right between supply and demand," Khelil told reporters Saturday.

"If it has to be 1.5 million barrels per day, or two million barrels per day, that's what it will be," Khelil added, during a visit to the southern Algerian province of Tamanrasset.

Khelil, who is also Algeria's Energy Minister, said Opec wanted to see oil prices "remain stable" throughout the first half of 2009.

"We want a stable price per barrel -- neither too high, nor too low, between 70 and 90 dollars," Khelil said.

Iran -- Opec's second largest exporter -- also called Saturday for a significant cut amid prospects of reduced demand in the face of the global economic slowdown, the state broadcaster reported.

Opec's official production quota stands at 28.8 million barrels per day.




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Japan Stock markets open well, buoyed by earnings reports

markets opened up Monday, largely over reports that company earnings may not be as bad as expected.

The Nikkei 225 Stock Average rose 72.64 points, or 0.8 per cent, to 8,766.46 at 9:36 am local time. The broader Topix index climbed 8.62, or 1 per cent, to 902.91.

Sony Corp advanced 2.3 per cent, while Panasonic Corp climed 6.6 per cent. Japan’s biggest steelmakers - Nippon Steel Corp and JFE Holdings - were expected to boost annual earnings targets.

In currency markets, the dollar was quoted at 101.50-55 yen, up from Friday’s quote of 101.03-06 yen.

The euro remained almost unchanged and was quoted at 1.3442-47 dollars, as compared to Friday’s 1.3444-47 dollars.

On Friday, Tokyo stocks climbed after an overnight surge on Wall Street to end trading up almost 3 per cent as investors bought back shares battered by the previous day’s losses. The Nikkei jumped 235.37 points, or 2.78 per cent, to close at 8,693.82. (dpa)

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SBP Intervention Helps Rupee Rally

KARACHI :The State Bank of Pakistan (SBP) intervention helped the rupee recover to trade at 81.00 to the dollar on Monday, compared with Saturday's closing at 82.80/83.00, dealers said.

The rupee was quoted closing at 81.00/25 to the dollar, recovering 2.2 percent since Saturday's close.

Dealers said trade was thin amid uncertainty about the economic situation in regards to International Monetary Fund (IMF) assistance and foreign inflows.

"Everyone will remain cautious until there is some clarity on the economic front," said a currency dealer.

The State Bank's foreign currency reserves represent about six weeks cover for import payments.

There is growing speculation that Pakistan will turn to the IMF for support, possibly as early as this week, to weather the balance of payments crisis.

The government said earlier it would not seek an IMF package but Shaukat Tarin, the government's top economic adviser, said on the weekend Pakistan might need to borrow from the IMF if other multi-lateral lenders and friendly governments failed to help in the next few weeks.

According to the CNBC news channel, the government will ask for $10 billion from the IMF.

Officials from the Finance Ministry and the IMF are due to meet on Tuesday in Dubai to discuss Article IV consultation.

Article IV consultation is a regular, usually annual, comprehensive discussion between IMF staff and representatives of individual member countries concerning the member's economic and financial policies, according to the IMF's Web site.

RUPEE UNDER PRESSURE

The rupee sank to a record low of 84.40 to the dollar on Friday, at which point it stood 27 percent weaker than at the start of the year. As of Monday, the rupee has lost 24 percent this year.

Dealers said the rupee was under constant pressure because of import payments and a lack of inflows.

Analysts estimate Pakistan is in urgent need of at least $3 billion to $4 billion to help stabilise its economy.

Tarin said on the weekend he would make sure Pakistan does not default.

"Now, there is no danger," he told journalists after a news conference in Islamabad, but he warned that lenders were running out of time to come to Pakistan's rescue.

"We think we will be in a very good shape .... within the next 30 to 60 days," Tarin said of the prospects of sewing up funds to cover a balance of payments financing gap that the IMF estimates at up to $4.5 billion, and Pakistan reckons at $3.0 billion for the fiscal year ending on June 30 next year.

Dealers said the rupee could come under more pressure when a protective floor placed on the Karachi Stock Exchange (KSE) index was removed on Oct. 27, because of possible foreign selling and portfolio outflows. The floor was imposed in August.

The index has fallen almost 35 percent this year and ended flat on Monday at 9,184.75 points on very thin trade of 26,720 shares.



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Nepal Govt Expanding Cabinet

Kathmandu: The CPN (Maoist) and the CPN (UML) have reached an understanding for expanding the current cabinet by Friday and forming a political committee that advises government on political issues.

During a meeting between the leaders of two parties at the Prime Minister Prachanda’s residence in Baluwatar toady it was also decided to make additional efforts to bring Nepali Congress into the government that will help ease the constitution making process

The two parties have agreed that the political committee consisting representatives from all parties in the government will be led by former UML General Secretary Madhav Kumar Nepal.

Minimising the tussle between the youth groups – the Young Communist League and the Youth Force – was also a major agenda of discussion.

The meeting also discussed filling vacant positions in the constitutional bodies and formation of committees as mentioned in the Interim Constitution among others.

Prachanda is likely to meet top leaders of Nepali Congress later today. He has already said that he would hold talks with Nepali Congress president Girija Prasad Koirala to bring the party in coalition government, Nepalnews reported. (ANI)

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Israel considering Middle East peace plan

JERUSALEM: Israeli leaders are seriously considering a dormant Saudi plan offering a comprehensive peace between Israel and the Arab world in exchange for lands captured during the 1967 war, Defense Minister Ehud Barak said Sunday.

Barak said it may be time to pursue an overall peace deal for the region since individual negotiations with Syria and the Palestinians have made little progress. Barak said he has discussed the Saudi plan with Prime Minister-designate Tzipi Livni, who is in the process of forming a new Israeli government, and that Israel is considering a response.

Saudi Arabia first proposed the peace initiative in 2002,offering pan-Arab recognition of Israel in exchange for Israel's withdrawal from Arab lands captured in 1967 the West Bank, Gaza Strip, east Jerusalem and the Golan Heights. The 22-member Arab League endorsed the plan last year.

The Israeli government has in the past described the plan as a good basis for discussion, but expressed some reservations. “There is definitely room to introduce a comprehensive Israeli plan to counter the Saudi plan that would be the basis for a discussion on overall regional peace,'' Barak told Israel's Radio.

He noted the “deep, joint interest'' with moderate Arab leaders in containing Iran's nuclear ambitions and limiting the influence of the radical Islamic Hezbollah movement in Lebanon and Hamas in Gaza.



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ISAF Claims 20 Extremists Killed In 2-Day Fighting

KABUL: The NATO-led International Security Assistance Force (ISAF) have eliminated over 20 insurgents during a two-day operation in central eastern Afghan province of Wardak, said the alliance statement released here on Monday.
While in another incident two armed persons riding a motorcycle shot dead a foreigner lady. Allied forces spokesperson here told that the clash with the extremists took place at 40 miles east of Kabul in the province Wardak, while the two-day fighting with the help of Allied forces air strikes left 20 extremists dead.
On the other hand, Afghan interior ministry told that motorcycle riders shot dead a foreigner lady on way to her job. Presently, no information could be received about the citizenship of the lady. It is said that the deceased was an employee in an NGO.


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Aishwarya Rai So Proud To Have A Hubby Like Abhishek

For Aishwarya Rai time management is not just an art, it’s a necessity. She arrived recently after the world tour, then left for Peru via Dubai to shoot for Shankar’s Robot.

“I’m looking working with Rajnikant Sir in Robot. He and my father-in-law are institutions. Luckily I’ve worked with both. And Peru is a place I’ve never shot in. Wish I had more time to enjoy the new happenings in my life, ” sighed Aishwarya.

“But the sad part is I hardly got enough time to do the things that are really important to me, like spend with my parents, specially my father who’s been very unwell. I barely came back from the Unforgettable concerts when I had to leave. That’s the hard part of being who I am. The show always has to go on.”

Aishwarya is deeply moved by the support and love offered to her and her family during this trying time of her father’s illness. “I’ve always had very positive vibes coming from my audience and friends. But the calls messages and prayers for my father’s health are something I’ll never forget, ” Aishwarya says emotionally.

Regretfully she had to leave Mumbai again right sfter her dad’s latest chemotherapy. “I’d have liked to be with my parents more. But what to do? ”

More on Mani’s movie? “We start shooting his film in October. All I’ll say at this point about Mani’s film is, it’s like nothing Abhishek or I have ever done. Guru was a different world.”

About the just concluded world concerts Aishwarya brightens up discernibly. “What can I say? Personally and professionally it was greatly fulfilling. I’ve been on several concerts. This one was special for very obvious reasons. My parents-in-law and my husband were with me.”

How different was it performing with them as compared with her earlier concerts when she performed alone? “Ah, that’s a trick question. I’ll tell you this much.

Each concert got better and better. Every city surprised us. It was the first world tour for Abhishek, so extra-special. He kept reminding me of how I kept urging him to do world tour even from before we came close.

I had completely forgotten that I had once sent a concert organizer to him for a proposed world tour. Abhishek was a rock star at these concerts. I felt very proud of him.”

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Angelina Jolie Reveals Her Love Story

Angelina Jolie has revealed that she and partner Brad Pitt fell in love while the Hollywood actor was still married to Jennifer AnistonIn an interview with New York Times , the Tomb Raider star admitted that they fell in love started during the shoot of 2004 film Mr and Mrs Smith . The couple have always claimed their romance started after Pitt parted ways with the Friends star. On being asked if she was excited about her children being able to one-day see their mother and father in Mr And Mrs Smith , she said "Not a lot of people get to see a movie where their parents fell in love." Angelina was branded as the man-eater for breaking up Pitt’s marriage to Jennifer Aniston. She has taken all of 2008 off from filmmaking and has only one movie lined up — the spy thriller “Edwin A. Salt,” which will begin production in February and which, in an indication of her box office clout in action films, was reconceived for her after Tom Cruise dropped out.

NEWS BY INDIA TIMES

Lara’s Wild Streak

Recently, while in Bangk-ok, Lara Dutta got herself a red rose tattoo.

Talking about it, she said,

“The moment I saw it,

I wanted to get it done.

It’s a stunning tattoo on the inside of my right ankle and it is perhaps the wildest thing I have done,”

she quips.

NEWS BY INDAI TIMES

India declare with 515 lead in Mohali Test

MOHALI: India declared at 314 runs for loss of three wickets in their second innings with 515 runs total lead in the second Test against Australia here on Monday. Gautam Gambhir's second Test century, his first at home, and Virender Sehwag's 90 took India's lead past 400 in the first session of day four in Mohali, before Mahendra Singh Dhoni inflicted further pain on Australia. Dhoni followed up his first-innings 92 with a brisk unbeaten 68 and when India's lead touched 515, he promptly declared. Australia's bowlers struggled for the third session running and were frustrated by partnerships of 182, 42 and 66 on another day of Indian dominance.India had scored 469 runs in their first innings and got the visitors out on 230 runs to gain 269 runs lead in the first innings.



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Ibrahimovic Scores Twice As Inter Milan Beat Roma

MILAN: Zlatan Ibrahimovic and Ronaldinho each scored twice in Serie A wins for Inter Milan and AC Milan. Inter beat AS Roma 4-0 to move two points clear atop the Serie A standings, and Milan defeated 10-man Sampdoria 3-0. Inter improved to 16 points, two ahead of Udinese, Catania and Napoli. Milan is in a four-way tie with 13 points, and Roma has seven. With Christian Panucci and Philippe Mexes both suspended, Roma's makeshift central defensive pair of Simone Loria and Juan struggled to contain Ibrahimovic, who scored at the beginning of each half. Dejan Stankovic and surprise starter Victor Obinna added goals for Inter in the 54th and 56th minutes at the Stadio Olimpico. Milan had a man advantage from the 55th minute after Sampdoria defender Stefano Lucchini received a second yellow card for a handball inside the area. Ronaldinho converted the penalty and added another goal in the 66th on a give-and-go with Brazil teammate Kaka. Sampdoria came close to scoring in the 21st minute as Gennaro Delvecchio sent a bicycle kick just wide. With the entry of Kaka at the start of the second half, Milan became more aggressive and began to take control of the game even before Sampdoria were reduced to 10 men. Kaka had been rested for the first half after recently arriving from Brazil, where he had been on international duty. Filippo Inzaghi scored his first goal of the season in the 90th to make it 3-0. Bologna, which had lost five straight after winning its first game of the season, stunned Lazio 3-1 with two goals from Marco Di Vaio. Bologna had scored only three goals in its first six games, but collected three in 26 minutes against Lazio, the co-league leaders coming into the weekend games.

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India Declares, Sets 516 Run Victory Target

MOHALI: India set Australia an imposing victory target of 516 in the second cricket test Monday after rushing to 314 for 3 wickets declared in its second innings.Captain Mahendra Singh Dhoni smashed 68 from 84 balls to add to his 92 in the first innings before deciding to end Australia’s punishment an over after drinks in the middle of the second session. Dhoni, who promoted himself to No.3, collected three fours and a fierce six off Cameron White. Opener Gautam Gambhir produced his second century during the start of India's brutal demolition. Left-hander Gambhir combined with Virender Sehwag in a stunning 182-run partnership for the first wicket that deflated the already struggling tourists. Sehwag provided most of the power, but Gambhir stayed longer than his partner as India prepared to set Australia a massive victory target. After losing Sehwag, Gambhir moved to his century with a boundary through mid-wicket off White shortly before lunch. He had struck seven fours during his 136-ball stay, but left two deliveries later when he chipped to mid-off while on 104.Gambhir's half-century came in the fourth over of the day, and in the next over he hit leg spinner White for a straight six that lost the ball. Fifteen runs were struck off White's six balls and he also experienced harsh treatment from Sehwag. Sehwag smashed 90 from 122 deliveries before his aggressive knock ended when Peter Siddle had him caught behind by Brad Haddin. Gambhir and Sehwag scored at will and had 60 runs from the first ten overs of the morning against a wilting attack.Australia started with bowlers Shane Watson and White before Mitchell Johnson was introduced. Spearhead Brett Lee, who suffered a right hand injury in the first innings, did not bowl until after lunch. Lee removed Sourav Ganguly (27) when he skied to Michael Clarke at point. Sachin Tendulkar scored 10 before the declaration, leaving Australia to face 46 overs before the end of the day.India added 100 without loss in 23 overs on the third evening to gain a 301-run advantage. Australia was dismissed for 268 in its first innings with Watson top-scoring with 78 after rookie leg spinner Amit Mishra became the sixth Indian bowler to claim five wickets in an innings in his first game.

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3 die In Dera Bugti Bomb Blast

DERA BUGTI: Three people were killed while five others injured, two of them seriously, when a remote control bomb was exploded in Dera Bugti town on Sunday, Dera Bugti police said.

Some unknown miscreants had planted the bomb on a roadside for targeting Yousuf Bugti, son of MNA Ahmadan Bugti escaped unhurt, police said.

Two people were killed at the spot while another succumbed to his injuries on way to hospital. The five injured were rushed to Pakistan Petroleum Limited (PPL) hospital at Sui town where doctors said that the conditions of two injured were serious.

The names of the victims and the injured could not be ascertained immediately. Dera Bugti police had registered a case against unknown miscreants and started investigation.




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4 die, Several Hurt In New Delhi flyover Collapse

NEW DELHI: At least four persons were killed and several wounded Sunday morning as an under construction flyover crumbled in New Delhi. According to eyewitness accounts several portions of the under construction Metro Flyover collapsed in the Indian capital causing death of at least four persons and wounding several others. More than 10 vehicles have been trapped under the rubble of the flyover, television reports said.



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