Friday, April 1, 2011

Pakistan, India to carry forward talks’


ISLAMABAD:
Pakistan and India have decided to carry forward the dialogue process and all issues, including the core issue of Kashmir, were discussed with the Indian leadership in Mohali.

Briefing the Senate about his recent India visit, Prime Minister Yousaf Raza Gilani said the cricket match provided an opportunity for bringing closer both the nations and their leaderships.

He said the outcome of this meeting was very positive and both the sides agreed to move forward for resolving various issues, working for peace.

Referring to the recent hike in fuel prices, Gilani said that they were linked with international market and the Oil and Gas Regulatory Authority set the oil prices.

He said that the government had so far given a subsidy of Rs35 billion on petroleum products this year. He said that the government had tried its best to cushion the people against the sharp increase in oil prices in the international market.

Gilani stressed the need for devising a consensus on a national strategy to overcome the menace of terrorism.

The prime minister appreciated the Senate for making useful legislation on various issues, especially a bill regarding bringing transparency in the election process. He said only transparent and free election could ensure a sustainable democratic system.

Referring to various issues confronting Balochsitan, the prime minister said that the government was focusing on the development of this province with an objective to remove the sense of deprivation.

He said government was aware of the deteriorating law and order situation in the province and it was taking all possible measures to bring peace.

Later, the house passed a resolution condemning attacks on Maulana Fazlur Rehman.

The Senate unanimously passed two bills, including the arbitration (international investment disputes) bill of 2010 and the code of criminal procedure (amendment) bill of 2010.

Earlier, the opposition parties staged a token walk-out from the House to register their protest against increase in the prices of petroleum products. link....

Read more...

Forex trader news: Sterling rises against euro



The pound has risen against the euro this morning (March 30th), forex traders may be keen to note.

According to Reuters, the single currency has shed 0.4 per cent against sterling after the former struck a five-month high of 88.365 pence on Tuesday.

Concerns over the eurozone's debt crisis are being blamed for the currency's drop, however there are still expectations that UK interest rates will rise later than those in Europe.

A London-based spot trader said: "There was some selling in the euro earlier in the session but this pair isn't the most aggressive of movers and in the current market I can't see it travelling too far."

However, the euro is still up by 2.3 per cent on the year despite today's fall.

This comes after sterling increased by 0.1 per cent against the dollar, following on from its little change revealed against the US currency revealed this morning.
link.....

Read more...

Canada Dollar Gains to Strongest Since 2007 on Recovery Outlook

Canada's dollar rose to a three-year high versus its U.S. counterpart and approached the strongest level since 1950 as speculation the global economic recovery is quickening fueled investor appetite for higher-yielding assets.

The currency had the biggest weekly gain since November as U.S. employers added more jobs in March than forecast and Chinese manufacturing accelerated. Oil and gold gained, and the Canadian dollar strengthened the most versus the yen during a week since 2009. Canada’s employers added jobs for a sixth month, a report next week may show.

“Risk has been the theme of this week,” Brian Dolan, chief strategist at FOREX.com, a unit of online currency trading firm Gain Capital in Bedminster, New Jersey. “Oil prices are holding firm, gold prices are holding firm.”

The Canadian dollar, nicknamed the loonie for the image of the aquatic bird on the C$1 coin, appreciated 1.8 percent, the most since the five days ended Nov. 5, to 96.32 cents per U.S. dollar yesterday in Toronto, from 98.05 cents on March 25. It touched 96.26 cents, the strongest level since Nov. 15, 2007. One Canadian dollar buys $1.0382.

The loonie’s strongest level since it was allowed to float in 1950, 90.58 cents, was reached on Nov. 7, 2007, as the collapse of the U.S. subprime-mortgage market disrupted financial markets and weakened the greenback. link......

Read more...

  ©Template by Dicas Blogger.