Preparations for 68th Golden Globe Award in full swing

LOS ANGELES: The countdown to Sunday's 68th Annual Golden Globe Awards is on, and the British comedian Rickey Gervais is set to front the ceremony -- which takes place at the Beverly Hilton Hotel in California on Sunday -- for the second time and jokingly claimed he doesn't want to mock anyone during the show who will want retribution.

He said: "I only go for the weak and the feeble. I'm not going to have a go at Russell Crowe or Mickey Rourke. Mickey Rooney maybe. Betty White, I'm not scared of her. You've gotta to choose your targets wisely."

Ricky, 49, also admitted he plans to poke fun at Charlie Sheen -- who has recently hit the headlines for wild partying with porn stars -- and Mel Gibson, whose angry rants were exposed in a series of leaked voicemail messages to former lover Oksana Grigorieva last year.

The 68th annual Golden Globe Awards is set for Sunday in Beverly Hills.

Shah Rukh, Katrina in KJo’s next

MUMBAI: Shah Rukh Khan has scores of reasons to rejoice for. The actor, who bagged the prestigious Zee Cine Award in the Best Popular Actor category, will soon be seen romancing the dazzling Katrina Kaif onscreen. With the duo not having a single movie together to their credit, many top movie directors are now gearing up to bring the dishy pair together for a film.

And even though the infamous fight between SRK and Salman at Katrina’s birthday party had made her averse to sharing screen space with SRK, the fact that all leading ladies have romanced SRK is now persuading Kat to follow suit.

And that’s not all. As per reports, even Shah Rukh is keen to work with Katrina. Sources have revealed, "At Hrithik Roshan’s birthday bash, Katrina was seen enjoying SRK’s company.

The two talked for a long time and there was hardly any sign of animosity between the two. Not only that, Shah Rukh even escorted Kat back to her car. She left the party with Karan Johar.”

As for the director that is working hard to bring the two together onscreen, it’s none other than Karan Johar. Well, here’s looking forward to this jinxed pair coming together.

Miss Nebraska wins 2011 Miss America pageant

Miss Nebraska wins 2011 Miss America pageant Miss Nebraska crowned Miss America LAS VEGAS: Nebraska's 17-year-old Teresa Scanlan was named Miss America Saturday becoming the youngest winner ever in the pageant's history after a night of being judged for poise, talent, fitness and knowledge. Scanlan wowed the judges wearing a stunning white evening gown and tickling the ivories on piano with rousing rendition of "White Water Chopped Sticks" in the talent competition. In the final question, she was asked about the leaking of confidential government information by website WikiLeaks and whether US security or the people's right to know sensitive information was more important. Scanlan saw the leaks as a matter of espionage and said: "When it comes to the security of our nation, we have to focus on security first and then people's right to know ... We can't let things like that happen, and they must be handled properly, and I think that was the case." The first runner-up, who will take Miss America's place in the case Scanlan can't perform her new role, was Miss Arkansas Alyse Eady. Among other noteworthy contestants was Miss Delaware, Kayla Martell, who made it into the semifinals. Martell suffers from a disease, alopecia areata, that caused her to lose all her hair at age 10, and she competed in a wig. This year marked the 90th pageant in the history of Miss America. The organization runs achievement programs and is a major provider of scholarship assistance for young women. In 2010, the group and its state and local affiliates helped give out more than $45 million in cash and scholarship assistance. FROM 53 TO 1 Fifty-three women were chosen from states and territories across the country in local contests before they headed to Las Vegas and the final pageant Saturday. As Miss America, Scanlan will take the next year to travel the United States and raise awareness about eating disorders. Miss America 2010, Caressa Cameron from Virginia, 22, was a goodwill ambassador for the Children's Miracle Network, and she spent the year helping raise awareness for HIV/AIDS. In the week ahead of Saturday's competition, contestants were judged in preliminary events for evening wear, fitness and swimsuits and answer questions in an interview. From those events, 11 semifinalists were chosen to compete Saturday night. Joining them were four other contestants -- two picked by online voting and two others by the remaining young women in the pageant. The 15 semifinalists were narrowed Saturday in contests that again include evening wear, fitness and swimsuits, talent and a final on-stage question for the top five women. Then, the top five were ranked to get to the new Miss America. This year, seven panelists judged contestants in the final round as they answered their question in 20 seconds. The judges -- including TV talk show co-host Joy Behar, "Dancing With the Stars" professional dancer Tony Dovolani, and "Desperate Housewives" creator Marc Cherry, among others -- watched for confidence, knowledge and quick thinking in formulating an answer. Joining Miss Nebraska and Arkansas among the five finalists were women from Hawaii, Washington and Oklahoma. The show included a rousing opening musical number by all 53 contestants, and it was hosted by TV personalities Brooke Burke and Chris Harrison.

Bold, elegant gowns top fashion on red carpet

BEVERLY HILLS: Hollywood's A-list stars made bold, elegant fashion statements on the red carpet at the Golden Globe Awards Sunday with gowns that featured sequins, beading, and asymmetrical structures.

"I think at one point, actors may have thought it (a bold choice) was too much pageantry, but this year was definitely about making a statement," fashion designer and red carpet expert Nick Verreos said.

He singled out "Glee" star Lea Michele's Oscar de la Renta gown that looked like it was "built into her body" and movie actress Olivia Wilde's Marchesa ball gown as examples of stars saying, "I'm not going to blend in!"

For her part, Wilde said her sequined gown was "dramatic and elegant ... I liked that it was on chocolate brown and I knew it would reflect the sun."

Melissa Leo, best supporting actress nominee for "The Fighter," also went with sequins, choosing a black Mark Bouwer dress that had a train.

"It had a weight to it and I like that in a dress," Leo said. "And if you have enough room, and people aren't trotting on it, wearing a train is one of the most delightful things a girl can wear.

The Golden Globes annually are one of Hollywood's most-watched awards shows and come only weeks ahead of the Oscars. As a result, many A-list stars show up for the program, and fashion designers around the world seek to have the actresses where their gowns on the red carpet.

Style expert and TV personality Sam Saboura called the Golden Globes: "the night of the black swans and the swan queens" alluding to best drama movie nominee "Black Swan" and the number of polar opposite colors on the red carpet.

There were many black gowns -- Halle Berry, Piper Perabo, Jennifer Lawrence, Julia Stiles and Eva Longoria -- and plenty light creams, taupes, peaches and pinks as seen on Jennifer Lopez, Nicole Kidman, Michelle Williams, Scarlet Johanssen, Megan Fox, Emma Stone and the pregnant Natalie Portman.

"It was one of the only ones I tried on," said Portman of her light Viktor and Rolf gown that had a red flower emblazoned on it. "It was so beautiful, we realized nothing else would compare."

Many stars didn't shy away from color. There were vibrant reds, vivid pinks, and one color that is sure to be a spring trend -- green.

"There were more emerald green and forest greens than ever before," said David Gomez Pearlberg, fashion executive for Junko Yoshioka New York, citing Angelina Jolie, Catherine Zeta-Jones and Mila Kunis.

Regardless of style or color, "it was sparkle and shine done in a new way, with plenty of three-dimensional embellishment," Saboura said.

The bold statements made by the actresses were a stark contrast to last year's subdued red carpet that came on the heels of a devastating earthquake in Haiti.

"It was a more elegant Hollywood than we've ever seen before. There were so many more hits than misses," Pearlberg said.

Twilight' star talks privacy, money in Vogue

NEW YORK: Kristen Stewart is living an atypical life for a 20-year-old.

Ever since she took on the role of Bella Swan in the "Twilight" films, she's crossed over into youth-idol status where emotions run high and she has zero privacy.

The actress says in the February issue of Vogue magazine that she can't go to a shopping mall and that it bothers her she can't be outside often.

Stewart is working on the final two films in the saga and says her wish is for the fans to be happy with the outcome.

Now that "Twilight" has made her a star, Stewart tells the magazine, she's trying to figure out what to do with the money she's made from her work. Stewart says it would be "amazing" to help fund halfway houses for people who need their kind of support.

King's Speech leads field with 14 BAFTA nominations

LONDON: "The King's Speech," in which Colin Firth plays the stammering King George VI, won 14 BAFTA nominations on Tuesday, ahead of ballet drama "Black Swan" which garnered 12.

"Inception," starring Leonardo DiCaprio, was the next most popular movie at Britain's top film honours with nine nominations, ahead of climbing story "127 Hours" and Western remake "True Grit" with eight apiece.

"The Social Network," one of the films most widely tipped for Oscars glory this year, won six nominations.

The BAFTAs are followed closely as the awards season gets into full swing, although they have only a patchy record in identifying future Oscar winners.

Firth, who recently won a Golden Globe, was shortlisted for a BAFTA best actor prize. His co-stars in The King's Speech -- Helena Bonham Carter and Geoffrey Rush -- were nominated for best supporting actress and actor, respectively.

The Orange British Academy Film Awards winners are announced on February 13.

Kidman, Urban welcome new baby girl

LOS ANGELES: Oscar-winning actress Nicole Kidman and her country star husband, Keith Urban, have added a second daughter to their family, born via a surrogate mother in the United States.

The Australian couple today announced the arrival of Faith Margaret Kidman Urban, born on December 28 at a Nashville, Tennessee, hospital.

Faith was born at the Centennial Medical Centre under a veil of secrecy, involving the celebrity couple booking out the entire top floor of the hospital and secretly entering the facility via a staff-only service elevator.

Kidman and Urban are Faith's biological parents. Initial reports had said the baby girl was born last week. Kidman and Urban released a statement thanking everyone for their support.

"Our family is truly blessed, and just so thankful, to have been given the gift of baby Faith Margaret," the couple said.

"No words can adequately convey the incredible gratitude that we feel for everyone who was so supportive throughout this process, in particular our gestational carrier."

Kidman and Urban, both 43, were married in 2006 and have another daughter together, Sunday Rose, 2.

Kidman credited Sunday's unexpected appearance to swimming in the waters of a small Australian outback town during the filming of the film Australia.

She and six other women became pregnant after swimming in Kununurra.

Kidman and Urban probably deserve this year's best actress and actor Academy Awards for keeping Faith a secret.

Kidman has been on the hustings in the US, Australia and Europe undertaking numerous interviews to promote her latest project Rabbit Hole, a harrowing drama she produced and stars in as a mother dealing with the sudden death of a young son.

Urban has also sat through plenty of interviews.

And the pair made no mention of Faith yesterday when they attended the Golden Globe Awards in Los Angeles.

Kidman missed out on the Golden Globe best dramatic actress award for Rabbit Hole, with expectant mother Natalie Portman taking the gold statue for her performance in Black Swan.

Kidman has two adopted children with former husband Tom Cruise, 18-year-old daughter Isabella and 15-year-old son Connor, who live with Cruise in Los Angeles, but the teenagers are rarely seen in public with Kidman.

Kidman has hinted about her desire to have children and said in the latest issue of the US edition of Harper's Bazaar magazine that Isabella and Connor do not regularly visit her in Nashville.

"No, they don't," Kidman said.

"They're not crazy about Nashville. They're so grown up now. I mean, they're adults."

Golden Globe audience up, Gervais' hosting panned

LOS ANGELES: Host Ricky Gervais may have turned off the audience members and critics at Sunday night's Golden Globe Awards, but viewers seemed turned on, watching the show in larger numbers than one year ago.

The Golden Globes, an annual film and TV awards show in Hollywood, drew just under 17 million total viewers to network NBC, which was up slightly from 2010 when British comedian Gervais, who is known for his acerbic sense of humor, hosted for the first time, according to audience figures released on Monday.

Last year's ceremony was up 14 percent from 2009's roughly 15 million viewers, and the upward trend shows the telecast is recovering somewhat from the 2008 Hollywood writers strike which reduced the Globes to a news conference.

Still, this year's viewership of 16.99 million show is down from 2007, when some 20 million viewers tuned in to watch Hollywood's A-list stars parade up the red carpet in their finest gowns and tuxedos and, for the lucky few, accept awards for movies, TV shows, performances and music.

Gervais' hosting duties on Sunday night brought some often harsh criticism from reviewers. During the show, the comedian took shots at Charlie Sheen's drinking and partying, Robert Downey, Jr.'s years-ago issues with drugs and alcohol, the critically panned movie "The Tourist" that was nominated for best comedy, and even the organizers of the show.

His sense of humor on the ceremony's center stage was so caustic that Downey, Jr., remarked on stage that Sunday's ceremony was "unusually mean-spirited."

Many critics seemed to agree. Los Angeles Times TV critic Mary McNamara wrote on Monday that "it quickly became clear that his material wasn't just falling flat, it was making many audience members and presenters uncomfortable and even angry."

Washington Post reviewer Hank Stuever wrote, "Somehow Ge

Journalists ask police to register case against Rani

PATIALA: Journalists in Patiala have asked the police to register a case against Rani Mukherjee, other actors and the filmmaker for using vulgar language in 'No One killed Jessica'.

The complaint was filed by the Patiala Press Club through its president Parveen Komal and was submitted to Inspector General of Police (Patiala zone) P.S. Gill, district police chief Gurpreet Singh Gill and Deputy Commissioner D.S. Garewal.

"Press is considered as the fourth pillar of democracy and using such kind of vulgar words in the movie is a direct insult of the media. This action is also an insult to women," Komal told reporters.

He said that the producers of the film had resorted to use of vulgar language to earn money. The complaint sought a case be registered for vulgarity. Those mentioned in the complaint include Rani Mukerji, actress Vidya Balan, other actors, the producers, the director and the script writer among others.

Donald appointed New Zealand bowling coach

WELLINGTON: Former South African paceman Allan Donald has been appointed as New Zealand's bowling coach on a short-term contract until the end of the World Cup, officials said Tuesday.

New Zealand Cricket chief executive Justin Vaughan said Donald's experience would be a positive for the Black Caps, whose support staff have been revamped since John Wright was appointed head coach in December.

"I know he is really looking forward to the challenge of returning to international cricket and working with the Black Caps," Vaughan said.

The 44-year-old recently finished a stint as head coach of Zimbabwe domestic side the Mountaineers and has previously worked with English county side Warwickshire and the England national side as bowling coach.

Vaughan said Donald, who took 330 Test wickets for South Africa, would join the squad in Wellington this week ahead of Saturday's first one-day international against Pakistan.

He will remain with the Black Caps through the six-match series and the World Cup, to be played in India, Bangladesh and Sri Lanka from February 19 to April 2.

Unfit Ponting, Hussey in Australia’s World Cup squad

SYDNEY: Defending champions Australia Tuesday unveiled their squad for next month's World Cup, banking on the fitness of a pair of injury-prone pacemen and elder statesmen Ricky Ponting and Mike Hussey. Veteran Brett Lee and enigmatic short-form specialist Shaun Tait were both included in the 15-man squad for the tournament in India, Sri Lanka and Bangladesh, which they are trying to win for the fourth successive time. Ponting was named as skipper, but is still recovering from a broken finger, while Hussey made the squad but is a major doubt after a severe hamstring tear in the six-wicket win over England at the MCG on Sunday. Hussey is expected to be sidelined for at last six weeks, with Australia's first game on February 21, and chairman of selectors Andrew Hilditch conceded he was a doubt for the showpiece event. By selecting Lee and Tait, as well as erratic duo Mitchell Johnson and Doug Bollinger, Australia will rely heavily on their pace bowlers to be at their best. Lee performed well in Australia's win over England on Sunday, but the 34-year-old and Tait are both on the comeback trail after serious elbow injuries. Sunday's game was Lee's first one-day international for Australia since October 2009 and he missed the 2007 World Cup triumph due to injury. Tait, who played in the 2007 final but mainly plays Twenty20 cricket these days, was ruled out of Sunday's game with a back problem. The 27-year-old has only played three ODIs since February 2009, but taken eight wickets in those three matches. The shock selection was Victorian all-rounder John Hastings, who has played just two one-day internationals, while David Hussey, Mike's younger brother, also made the squad. Tasmanian wicketkeeper-batsman Tim Paine, touted by many as a future Australian captain, is part of the 15. Left-arm spinner Xavier Doherty, who played on Sunday, was overlooked in favour of the returning Nathan Hauritz, who was ignored for the entire Ashes series but has been in top form in domestic first-class cricket this season. Victorian paceman Peter Siddle was not included, despite being one of the better Ashes performers for Australia with ball and bat. Squad: Ricky Ponting (captain), Michael Clarke, Doug Bollinger, Brad Haddin, John Hastings, Nathan Hauritz, David Hussey, Mike Hussey, Mitchell Johnson, Brett Lee, Tim Paine, Steve Smith, Shaun Tait, Shane Watson, Cameron White.

New Zealand name squad for World Cup

WELLINGTON: New Zealand cricket chiefs backed their struggling one-day team to reverse a dramatic form slump, avoiding wholesale changes in the World Cup squad named on Wednesday.

Chief selector Mark Greatbatch said the Black Caps had a point to prove after losing their past 11 one-day internationals, including series whitewashes against Bangladesh and India.

"We have kept faith with the bulk of the team which played the five-match ODI series in India and believe that, despite recent one-day form, the squad is very capable," he said.

"(They) owe it to themselves and the New Zealand fans to put in a huge performance at the World Cup."

Cricket's showpiece event in India, Bangladesh and Sri Lanka runs from February 19 to April 2.

Greatbatch said the squad, captained by Daniel Vettori, had an experienced core, with six players who helped New Zealand reach the semi-finals for the fifth time at the last World Cup in 2007.

All-rounder Luke Woodcock, 28, is the only uncapped ODI player in the squad, securing his berth with his strong domestic form for Wellington.

"He has a good head on his shoulders and his selection provides the option of playing three spinners, which could be useful in the subcontinent," Greatbatch said.

Injury-prone all-rounder Jacob Oram was also named, with Greatbatch saying his domestic performances after returning from a stint on the sidelines made the fitness gamble worthwhile.

Greatbatch singled out Jamie How as a batsman who needed to improve after failing against India but said his ability to provide wicketkeeping back-up to Brendon McCullum had helped sway selectors.

"Some might think he's a bit lucky after the last few innings in India but over the last 15 months he's actually performed in the limited forms of the game at various levels," he said.

Bowler Daryl Tuffey was the highest-profile omission from the squad.

New Zealand's 15-man World Cup squad: Daniel Vettori (captain), Hamish Bennett, James Franklin, Martin Guptill, Jamie How, Brendon McCullum, Nathan McCullum, Kyle Mills, Jacob Oram, Jesse Ryder, Tim Southee, Scott Styris, Ross Taylor, Kane Williamson, Luke Woodcock.

Aisam, Bopanna advance at Australian Open

MELBOURNE: Pakistan's Aisam-Ul-Haq-Qureshi and India's Rohan Bopanna had advanced for the second round after easy win against Brazilian pair Franco Ferreiro and Andre Sa at 6-3, 6-0 in the first round on Thursday.

Bopanna and Qureshi, the runners-up at 2010 US Open, next play Frenchmen Jeremy Chardy and Arnaud Cleme

World Bank sees 2008 risks for global economy

WASHINGTON: The World Bank warned Wednesday the global economy could return to the dark days of the 2008 crisis, with slowing growth and rising commodity prices.

After the recession in 2009 and the 2010 rebound, the multilateral institution said, 2011 is expected to be a year of deceleration.

In its latest projections, the bank estimates global growth of 3.3 percent this year following a 3.9 percent rate in 2010. Emerging and developing countries were expected to expand 6.0 percent, down from a 7.0 percent pace in 2010, the bank said in its latest Global Economic Prospects report.

But that was more than double the 2.4 percent rate expected to be clocked by high-income countries this year, slowing from a 2.8 percent rate in 2010. Growth in both high-income and developing countries, however, was expected to pick up toward mid-2011, and "settling at rates close to their longer-run potential."

For 2012, growth in the global economy was seen rising at a 3.6 percent rate. High-income countries were expected to expand by 2.7 percent and developing countries would speed up just a notch, to 6.1 percent.

Still, the overall pace of growth is too weak to give the recovery solid traction, the World Bank said. "Unfortunately these growth rates are unlikely to be fast enough to eliminate unemployment and slack in the hardest-hit economies and economic sectors."

In addition, "serious tensions and pitfalls persist in the global economy, which in the short run could derail the recovery to differing degrees," it warned. Threats that could derail the recovery include the eurozone financial market crisis, volatile capital flows and the rising prices of commodities, including food and fuel, the 187-nation institution said.

The World Bank expressed particular concern about rising commodity prices, including food and fuel, driven by loose monetary policies in the developed countries and solid demand in the emerging economies.

"Although real food prices in most developing countries have not increased as much as those measured in US dollars, they have risen sharply in some poor countries," the World Bank said. "And if international prices continue to rise, affordability issues and poverty impacts could intensify."

"We are very concerned about the rise in the food prices... We see some similarities with the situation in 2008, just before the financial crisis," Hans Timmer, the bank's director of development prospects, said at a news conference.

In 2008, oil prices surged above $147 a barrel in July, then fell to nearly $30 six months later. Currently around $92 in New York, oil prices are above the bank's estimate of $85 a barrel on average in 2011, compared with $79 in 2010. Commodity prices excluding oil were expected to dip 0.1 percent in dollar terms.

The 2008 scenario of soaring food and oil prices amid slowing growth, which had revived the word "stagflation," would likely be avoided, the World Bank said, as long as supply follows the rhythm of demand.

"The situation is also slightly different from 2008, because first of all in the grain markets, the stocks are much larger than the tight situation then, and also, it (the market) is much more localized, much more diverse" than for the industrial commodities, Timmer said.

In 2008, a powerful surge in commodity prices was abruptly snuffed out by the bankruptcy of US investment bank Lehman Brothers in September.

Asked how conditions would be different this time, the economist said he hoped that supplies would respond to demand. "You have there still large stockpiles, which were not available in the crisis of 2008, but clearly we are in an upward trend," he said. "And the consequences for people and individual countries can be serious."

Asian markets mostly plunge

HONG KONG: Asian stock markets were mostly lower on Friday after weaker than expected US jobs data weighed on sentiment and investors took profits after the previous day's gains.
However a strong performance by US chip giant Intel supported tech firms while the euro eased back from Thursday's New York highs after impressive bond sales in Spain and Portugal.

Tokyo was 0.29 percent lower by the break as dealer locked in profits after surging to an eight-month high in the previous session. Sydney edged 0.15 percent down, Shanghai fell 1.11 percent and Singapore shed 0.75 percent. Seoul was flat but Hong Kong gained 0.33 percent.

Traders took their cue from the United States, where the Dow slipped 0.20 percent after the Labor Department said new US claims for unemployment benefits rose 35,000 last week over the previous week.

New claims touched 445,000 in the week ending January 8. Economists had expected claims to hit just 415,000.

In Japan, Kenichi Hirano, operating officer at Tachibana Securities, told Dow Jones Newswires: "Profit-taking kicked in amid signs of overheating in the Japanese market" after the Nikkei hit a fresh eight-month high Thursday. However, technology shares were upbeat after Intel posted its best earnings ever in 2010, with a net profit of $11.7 billion, a 167 percent jump year on year.

The region clocked up strong gains on Thursday after a successful bond issue by Portugal, despite concerns the debt-laden country would need an International Monetary Fund bailout.

Spain and Italy also undertook strong bond sales later in the day, easing tensions over a European sovereign debt. The healthy auctions sent the euro soaring on Thursday in New York, with the single currency hitting $1.3358, from $1.3128 a day earlier. The unit was slightly lower Friday in Asia, trading at $1.3343 in the morning.

It also eased to 110.42 yen from 110.62 yen. It had been sitting at 108.82 before the bond sales. The dollar was slightly lower at 82.77 yen against 82.79 yen in late New York trading.

Oil sat around the key $100 mark as the weaker greenback made the black gold more attractive. Brent North Sea crude for February delivery was up 24 cents to $98.30. It had hit 98.67 at one point in New York Thursday before easing back. New York's main contract, light sweet crude for February, dipped 34 cents to $91.06 per barrel.

Gold opened at $1,375.80-$1,376.80 an ounce in Hong Kong, down from Thursday's close of $1,385.00-$1,386.00.

Self-reliance urged to uplift economy

KARACHI: Being worried for the fragile and critical economic condition of Pakistan, the Chairman Federal Board of Revenue (FBR) Salman Siddique Saturday urged upon self dependency for the betterment of economy, Geo News reported.

No foreign assistance would be extended to Pakistan unless countrymen come forward and take steps to uplift economy, he advised.

This he said in a meeting with a delegation of Karachi Chamber of Commerce and Industry (KCCI).

“Government should utilize state resources to meet current fiscal deficit,” Salman said, fearing that non-seriousness from countrymen would also tantamount to cut in foreign assistance.

“Government is combating an unannounced economic emergency at the moment,” he revealed questioning the government officials that how they could provide trade communities with financial aid as they have failed to meet their expanse.

Trade community should form a committee, he proposed pledging for FBR’s support for the purpose.

Qamar appointed as acting NBP President

KARACHI: The Ministry of Finance has announced the appointment of Qamar Hussain, Chief Operating Officer, NBP, as President, National Bank of Pakistan, on 'acting charge basis', with immediate effect, through a notification issued on Sunday.

Qamar Hussain, prior to joining NBP in 2009, had worked with American Express Bank as Senior Director, Global Credit, New York, and earlier as Country Manager, Bangladesh.

He had also been associated with Chase Manhattan Bank, in Pakistan and USA. Qamar is a distinguished banker and brings with him rich experience in various aspects of banking, particularly in Corporate Finance, Credit/Risk Management, and has excelled in strategic planning and business management.

During his tenure with NBP, he has made significant contribution in reorganising the field structure throughout the country, strengthened credit and risk function, reorganised Corporate and Investment Banking Group, streamlined performance management processes and, as a member of the bank's strategic planning team, has initiated business and other changes for further strengthening the organisation.

Qamar Hussain holds an MBA degree from McGill University, Canada, and has undergone extensive training in business leadership abroad.

China bank measures dent markets

HONG KONG: Asian stocks got off to a mixed start on Monday, with Hong Kong and Shanghai deflated by China's hiking of its reserve requirement ratio for banks, but Tokyo buoyed by a surge on Wall Street.

The Shanghai Composite Index was 2.10 percent lower in the morning, while Hong Kong was flat. Sydney's S&P/ASX 200 was down around half a percent, but Tokyo's Nikkei was up 0.36 percent.

China's central bank said Friday it would raise the amount of money that lenders must keep in reserve by 50 basis points on January 20, the latest in a series of such hikes aimed at reining in inflation.

The move raised expectations in some quarters of further measures ahead to cool the economy, after the central bike hiked interest rates last month for the second time in less than three months.

Property and banking stocks led the losses. Official data out Monday showed that property prices in China's major cities posted their fourth straight month-on-month rise in December.

"The consumer price index is likely to rebound in January due to strong holiday demand after an expected slower growth in December, so the likelihood of another interest rate hike is still high," Zhang Yanbin, an analyst at Zheshang Securities, told Dow Jones Newswires.

In Australia, Sydney was dragged down by mining stocks, after the market appeared to shrug off the country's devastating floods for much of last week.

Japanese stocks however were lifted by a bullish performance by Wall Street last week, which served to strengthen the dollar against the yen, giving a particular boost to exporters.

Wall Street capped a seventh straight week of gains at highs not seen since 2007-2008 on Friday as the corporate earnings season got off to a stronger-than-expected start. US markets are closed on Monday for a holiday.

On currency markets, the euro was lower versus other major currencies in Asia as traders took a cautious stance before a meeting of eurozone finance ministers, dealers said. The ministers will meet with opinion divided over calls to expand a debt rescue fund to bury market fears about the fate of vulnerable countries such as Portugal and Spain.

The euro retreated to $1.3343 in Tokyo morning trade from $1.3382 in New York late Friday. The single European currency also eased to 110.60 yen from 110.90. The dollar fetched 82.90 yen, against 82.94 in late New York trading.

Oil markets were mixed amid expectations that prices could soon hit $100 a barrel, analysts said. New York's main contract, light sweet crude for February delivery, eased two cents to $91.52 a barrel. Brent North Sea crude for March was five cents higher at $98.43.

Gold opened at $1,364.00-$1,365.00 an ounce in Hong Kong, down from Friday's finish of $1,373.50-$1,374.50.

Asian shares mixed, Apple-linked firms suffer

HONG KONG: Asian stocks were mixed on Tuesday as dealers picked up bargains after the previous day's falls, while tech plays pared early losses caused by news of Apple chief Steve Jobs's medical leave.

Meanwhile currency traders were on edge because of uncertainty about talks between European finance ministers over the possible expansion of a bailout fund for troubled eurozone members.

Tokyo added 0.15 percent, or 16.12 points, to end at 10,518.98 and Sydney gained 0.81 percent, or 38.7 points, to reach 4,801.8.

Morning gains in Hong Kong were eroded with the index closing 2.99 points lower at 24,153.98

And Shanghai reversed earlier losses to climb 2.32 points by the close, ending at 2,708.98. However, Chinese stock gains were capped by continuing fears that Beijing will hike interest rates further to check inflation.

The bumpy day followed a broad sell-off on Monday that came after Beijing hiked the amount of money banks must keep in reserve, an attempt by the government to soak up the liquidity blamed for rising prices.

Eyes are on the release on Thursday of key Chinese economic data, including inflation.

News that Jobs, CEO and figurehead of the iconic Apple brand responsible for the iPod, is to take more time off for medical reasons hit Asian technology firms in morning trade.

Jobs, who is 55 and underwent surgery for pancreatic cancer in 2004 and a liver transplant in 2009, said he would continue as chief executive "and be involved in major strategic decisions for the company".

But the announcement revived questions about Apple's future.

Apple fell more than six percent on the Frankfurt bourse, while the impact on the Dow will not be known until later Tuesday as Wall Street was closed Monday for a holiday.

In Tokyo, Softbank, the sole network provider for the iPhone in Japan, fell early on, but recovered to end up 0.75 percent, while Tokyo Electron also fell before ending up 0.17 percent. Kyocera ended down 0.7 percent.

In Taipei Hon Hai, the parent of Foxconn that assembles several Apple products, was flat after shedding almost one percent in the morning.

But rivals gained, with Sony up 0.48 percent.

Kenichi Hirano, operating officer at Tachibana Securities, warned: "This (Apple news) may trigger broad profit-taking in the US equity market."

On forex markets the euro was mixed amid concerns over the two-day European finance ministers' meeting that started Monday with divisions among members.

The single currency clawed back earlier losses to hit $1.3315 in Tokyo afternoon trade, from $1.3292 in London late Monday, while it was flat at 109.90 yen.

The dollar fetched 82.54 yen versus 82.68 yen in late London trading.

Ministers are discussing increasing the European Financial Stability Facility, an emergency lending mechanism for fiscally troubled eurozone countries that was created last year in the wake of the Greek crisis.

Analysts have warned the fund would be too small if bigger economies such as Spain, Italy or Belgium need help amid fears Portugal could be next to tumble into the financial abyss, causing a domino effect.

"If they don't release anything new, the risk to the euro will be to the downside if anything, as investors are still concerned about the European debt problems," Minoru Shioiri, chief manager of forex trading at Mitsubishi UFJ Morgan Stanley Securities, told Dow Jones Newswires.

On oil markets New York's main contract, light sweet crude for February delivery, dipped 47 cents to $91.07 per barrel and Brent North Sea crude for March was up 30 cents at $97.73.

Gold closed at $1,365.40-$1,366.40 an ounce in Hong Kong, marginally down from Monday's finish of $1,362.00-$1,363.00.

Pakistan ready to train Afghan army, police

ISLAMABAD: Foreign Minister Shah Mehmood Qureshi Wednesday said Pakistan and Afghanistan have come alive to the realization that the two countries are inevitable for each other.

Addressing a joint press conference here after holding bilateral talks at Foreign Office, Shah Mehmood Qureshi and his Bulgarian counterpart Nickolay Evtimov Mladenov said Pakistan and Bulgaria decided to expand and strengthen their bilateral relations in various fields including defence, economy, trade and culture.

Shah Mehmood Qureshi said both the countries have decided to expand political consultations and their next round will be held this year.

Qureshi said both the countries would sign an agreement Thursday to promote economic ties and expand bilateral trade and investment. He said both the countries have also decided to establish linkages between their universities.

The FM said Pakistan is geared up to train Afghan National Army and police, as the relations between the two countries improved during the last some years.

The Bulgarian Foreign Minister Nikolay Mladenov giving details of the talks said that his country appreciates Pakistan role in the fight against terrorism.

He said Bulgaria has rich experience in generating coal energy and can share its experience with Pakistan to overcome energy crisis.

Bulgarian Foreign Minister said his country fully supports Pakistan in European Union to get trade concessions and improve its economy.

Replying to a question both the Foreign Ministers said that Pakistan and Bulgaria are supportive of reconciliation process in Afghanistan to bring normalcy there but it should be led by the Afghans themselves.

Answering a question Shah Mehmood Qureshi said: "Pakistan and Afghanistan are developing their relations at all levels and there is a qualitative change at military and political levels during the past few years."

Responding a question regarding resumption of Pak-India dialogue, Qureshi said, "Pakistan wants to have productive and constructive dialogue with India to resolve all outstanding issues including Kashmir."

He said there is growing realization in India that Kashmir movement is indigenous and it should be resolved through political ways.

Replying to a question, the Bulgarian Foreign Minister said the international community must take collective stand against radicalism and there should be religious harmony all over the world to fight these elements.

President, PM meet in Islamabad

ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani called on President Asif Ali Zardari here at the Aiwan-e-Sadr on Wednesday night.

Current situation in the country was discussed during the meeting.

The President apprised the Prime Minister about his recent visits to the United States (US) and the United Arab Emirates (UAE), and his meetings with the US, UAE and other leadership.

The President also hosted dinner for the Prime Minister.

PM orders relief steps for quake-hit Balochistan

ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani Wednesday directed the National Disaster Management Authority (NDMA) to provide tents, blankets, medicine and food items to the earthquake hit areas in Balochistan. Talking to Nawab Muhammad Aslam Raeesani, Chief Minister Balochistan at the PM House, the Prime Minister expressed concern over the yesterday’s earthquake that hit the South Western region of Balochistan. He assured complete support of the federal government in case of any emergency. The Prime Minister said he had also directed the law enforcement agencies to keep in contact with the provincial government for relief activities. The Prime Minister said development of Balochistan was key to the progress and prosperity of Pakistan. The country is facing economic challenges which would be overcome by taking all political forces on board, he added. He said despite financial constraints, no cut had been made to the development budget of Balochistan. The Chief Minister apprised the Prime Minister about the damages in the quake hit areas. He said according to the initial assessment, not much damage was caused due to earthquake.

KESC decides to fire more than 4000 employees

KARACHI: Karachi Electric Supply Company (KESC) has decided to fire more than 4000 employees under voluntary separation scheme (VSS).

According to KESC spokesman, administration has decided to shut non-management and non-technical departments in the company. These department included security guards, drivers, clerical staff, bill distributors and sentry workers among others.

The company offered its 4500 employees VSS, whose date of validation expired on January 15. 375 employees accepted the offer while rest of the sacked employees will be paid all their statutory dues along with one month's salary.

Talking to Geo News, Peoples Workers Union said that voice will be raised against forcible action taken by the administration.

4 detained guards of Gabol relaesed

KARACHI: Four detained security guards of former state minister for Port and Shipping Nabeel Gabol were released on early Thursday, Geo News reported. According to the sources, released security guards included Imtiaz, Ali Raza, Ali Arshad and Ikramul Haq. Earlier on Wednesday, police raided the house of Nabil Gabol. Talking to Geo News, Nabil Gabol said the police raided my house in a fashion similar to that of a commando action. "Raids were conducted in a bid to take me into custody," he added. However, CCPO Karachi Fayyaz Leghari had denied Nabil Gabol's claim of a police raid on the latter's house, saying no such raid was conducted. Nabil Gabol said police had taken into custody his 12 security guards along with their weapons during the raid at his house located at Khayaban-e-Ittehad in Defence area. Nabil Gabol had earlier resigned from the post of state minister for Ports and Shipping. He said he was present in Karachi but he could not come out in the open.

Is IG Sindh given contract of killing, CJ asks

ISLAMABAD: Chief Justice Iftikhar Muammad Chaudhry during hearing of Hajj scandal case expressed concerns over the deteriorating law and order situation in Karachi.

The CJ in his remarks, questioned was the IGP Sindh given contract of killing in Karachi?. He added that around 75 people have been killed in January alone.

He also pointed out that when such sensitive posts would be filled on contract, issues of command and control emerged like the one in Karachi.

The contract of Inspector General of Police (IGP), Sindh, Sultan Salahuddin Babar Khattak was extended on Dec 17, 2010 till further orders.

A notification to this effect issued by the Establishment Division, said the contract re-employment of Sultan Salahuddin Babar Khattak, a retired PSP/BS-22, to extend with effect from Dec 17, 2010 till further orders on existing terms and conditions.