US suggests Keystonepipeline won't harmenvironment

WASHINGTON: The US StateDepartment suggested on Friday that a$ 5.3 billion Canada-to-Texas oilpipeline would have no major impacton the environment, but stopped shortof recommending it be approved. Thelengthy draft environmental impactstatement examines how the KeystoneXL Project could affect wildlife andsurrounding areas as it crosses fromthe tar-sands of Alberta in Canada andtravels 875 miles (1,408 kilometers)south. The fate of the proposedpipeline, which manyenvironmentalists fear could bedamaging, is still awaiting approvalfrom the State Department. "Theanalyses of potential impactsassociated with construction andnormal operation of the proposedproject suggest that there would be nosignificant impacts to most resourcesalong the proposed project route," thereport said. AGENCIES

Judge slashes $1bSamsung-Applepenalty in half

SAN FRANCISCO: A judge on Fridaycut $ 450 million from a $1 billionaward to be paid by Samsung in alandmark patent lawsuit from Apple,saying a jury had wrongly calculatedthe damages. US District Judge LucyKoh affirmed the remainder of theaward, amounting to $ 598.9 million, inthe patent infringement case, whiledenying Apple's request for a biggerpenalty. The decision marked the latesttwist in the blockbuster trial pitting themaker of the iPhone against thesurging South Korean electronics giant.Apple had accused its rival of massiveand willful copying of its designs andtechnology for smartphones andtablets. But Koh said the jury erred incalculating damages for some of thedevices in question, including somemodels of the Galaxy SII smartphoneand Galaxy Tab tablet, and struck downas invalid the $ 450 million awarded tothe Silicon Valley giant. AGENCIES

Obama orders $85bin budget cuts

WASHINGTON: President BarackObama ordered $ 85 billion in budget cutson Friday that could slow the US economyand slash jobs, after blaming Republicansfor refusing to stop the “dumb” spendingcuts. Obama complied with his legalobligations and initiated the automatic,across-the-board cuts in domestic anddefense spending, following failure ofefforts to clinch a deal with Republicanson cutting the deficit. AGENCIES

BEIJING

APP

Pakistan's Ambassador to China Masood Khalidsaid that Pakistan, as in the past, will activelyparticipate in the upcoming Kunming exhi-bition that provides a good platform for Pak-istani traders to showcase their products inthe Chinese market.

The ambassador, after meeting with theGovernor of Yunnan Province Li Jiheng on Fri-day evening said that Pakistan-China friendshipis all-weather and time-tested, adding that "dur-ing the last several decades the graph ofthis unique friendship has con-sistently followed an upwardtrajectory".

He pointed out that dur-ing his meeting with Gover-nor Li, he assured him ofmaximum participationfrom Pakistan in the exhi-bition that is scheduled totake place in June thisyear.

Accepting the invita-tion to attend the exhibi-tion, Ambassador Khalidsaid the fair would enhancePakistan's trade ties with China

while bringing the business communities of the twocountries closer to each other.

Upgraded in 2013, the 'China-South Asia Expo-sition' is the first event to be held under the new

name in Kunming, the capital city of Yunnanprovince from June 6. The exposition will be

concurrently organised with the 21st China,Kunming Import and Exhort CommoditiesFair, an annual event that is being held suc-cessfully over two decades.

To promote and invite maximum numberof foreign participants in the exhibition, an in-

teraction, the second in a series, with Beijingbased diplomats was organised on Friday.

Speaking on the occasion, theSecretary of the Communist Partyof China Yunnan Provincial Com-mittee Qin Guangrong said thatYunnan province is a bridge con-necting China and the outsideworld, since the Han Dynastyaround two millenniums ago."We have built up a compre-hensive transport network thatconnects countries in ourvicinity by road, railway, wa-terway and aviation, so as to

draw even closer friendly tieswith South Asia, Southeast Asia

and East Asia," Qin noted.

NEW YORK

AGENCIES

Global equity markets fell and the euro slumped to atwo-month low on Friday as weak economic data fromEurope and China weighed on prices, but Wall Streetstocks rebounded on news of surprisingly strong USmanufacturing and consumer sentiment. Governmentbonds rallied and the dollar rose in safe-haven buyingas concerns about imminent US spending cuts and thepost-election political stalemate in Rome remainedmajor headwinds for assets considered more risky.Growth in US manufacturing, which rose at its fastestpace in over a year and a half in February, offset somejitters. The Institute for Supply Management said its

index of national factoryactivity rose to 54.2 from

53.1 in January,topping economists'forecasts of a

pullback to 52.5. Whileeconomic data from

Europe and China wasdisappointing, there are clear

signs of economicrecovery in the UnitedStates and someevidence that Japan is

beginning to turn around, apotential swing factor in 2013,said Andrew Milligan, head of

global strategy at Standard LifeInvestments in Edinburgh.

Dollar gains, USshares rebound on ISM data

‘Kunming exhibition;a golden opportunityfor Pakistani traders’

PCSIR, FDA sign MoU for manufacturing ofcoal briquettes

ISLAMABADAPP

Fuel Research Center of

Pakistan Council of Scientific

and Industrial Research (FRC-

PCSIR) and FATA Development

Authority (FDA) on Saturday

signed a Memorandum of

understanding (Mou) for

manufacturing of 10 tonnes of coal

briquettes. The main aim of this joint

venture is to defuse the energy crises

prevailing in the FATA region in

particular. PCSIR Chairman Dr Shoukat

Parvez and FRC Director Gulzar Hussain

Jhatial signed the Mou on the behalf of

their respective organisations. The

PCSIR chief in his brief address

appreciated the efforts of Fuel Research

Centre, for their research and

development, regarding production of

coal briquettes. Shoukat said PCSIR

will further enhance the scope of

coordination with the FDA and other

provinces, regarding solar and other

renewable resources for power

generation. PCSIR will also provide

Human Resource training and

development for the youth of FATA to

play an active and more useful part in

provincial development.

Briquette is the formation of cylindrical,

circular or other shaped compact piece

from finely divided solids by the

application of external pressure.

Briquettes are environmentally more

acceptable to the consumer compared

to coal because of reduced sulphur and

convenience to handle.

This product can be used not only for

domestic heat spacing and cooking

purposes but also for industrial

purposes, including boilers, cement

industries, poultry and cattle farms.

This product is very handy for regions

where electricity or gas is not available.

FRC-PCSIR, after years of research in

the manufacturing of coal briquettes,

produced environmental friendly, low

ash, low sulphur briquettes from

indigenous raw coal. Considering the

annual production and the huge

potential of coal in FATA,a joint

Research and Development work on the

manufacture of coal briquettes between

FDA and FRC-PCSIR has been initiated.

Commercial opportunities could arise

out of the needs for non- polluting solid

fuel and waste utilization, especially in

markets which have traditionally used

wood for heating or cooking because of

non-availability of electricity and gas,

an official said. "The coal briquettes for

FATA may be utilised as a safer and

environmental friendly fuel as the

hazardous gases emitted during the

combustion of these briquettes are

within the safe limit," the official added.

01

BUSINESS

BSunday, 3 March, 2013

PRO 03-03-2013_Layout 1 3/5/2013 12:58 AM Page 1

BUSINESSSunday, 3 March, 2013

Brazilian Music for kids – Patubatê groupgives workshop to children

ISlAMABAD: On Saturday, March 02, the BrazilianGroup Patubatê gave a workshop for children withcollaboration with the NGO Lettuce Bee Kids andMashal Model School, which work with garbagepicker children in Islamabad. In the hands of themusicians Fred Magalhães, Fernando Mazoni, FelipeFiuza, Pablo Maia and the DJ Leandronik, scrap isnot junk, it is music, since Patubatê uses raw andrecyclable materials to build their musicalinstruments. Innovative sounds and a catchingenergy are extracted from cans, buckets, largebarrels and even parts of automobiles, and childrenin Islamabad had the chance to be part in thisamazing project. More than 60 children got

together in the Embassy for a musical gathering.They started by playing with the colorful barrelsthat are used by the band on their shows, thechildren watched an exclusive performance andwere called on the stage to play with the musicians.After savoring a delicious lunch, the musicianstaught the children how to make music out of scrapthat were brought by them. Empty bottles, boxesand other kinds of recycle materials were used tohelp children express all their musical creativity.Atthe end, the musicians showed the children how toplay capoeira, a Brazilian form of martial art thatmixes music and dance. PrESS rElEASE

National Assemblypasses Punjab Group’sCUST Bill 2013ISlAMABAD: The National Assembly passedPunjab Group’s' Capital University of Science &Technology (CUST) Islamabad Bill, 2013. With thisnew inclusion, the number of universities ownedand operated by Punjab Group has risen to three.Earlier, University of Central Punjab (UCP), Lahoreand Mohammad Ali Jinnah University with itscampuses in Karachi and Islamabad are offeringGraduation, Post Graduation, M.Phil and PhDprograms in the fields of Management Studies, IT,Mechanical and Electrical Engineering, Commerce,Pharm D and Social Sciences. The Group’s aim to

set up a Capital University of Science & Technologyis to contribute to the higher education learning inthe country by promoting innovation, research,training and learning in the fields of both scienceand technology.Needless to say that Punjab Groupof Colleges is a trusted name in the field of qualityeducation in Pakistan. We believe that CapitalUniversity of Science and Technology will also jointhe league with it’s par excellence educationalprograms. PrESS rElEASE

‘Unifoam Cricket Team’beat by Pepsi Cricketteam 66 runs

‘Unifoam Cricket Team’ has defeated Pepsi Cricketteam by 66 runs in corporate champions leaguecricket tournament. After winning the toss, Unifoamteam decided to bat first and scored 155 runs in 20overs, at the loss of 8 wickets. Pepsi cricket teamfailed to chase the total and bowled out on 89 runsin just 17.2 overs. Imtiaz Intazar of Unifoam playedan outstanding knock of 37 runs followed byMohammad Amir who scored valuable 33 runs.Mohammad Abbas of Unifoam cricket team wasawarded as a Man of the match by taking 4 wicketsin his 4 over spell. PrESS rElEASE

CORPORATE CORNER

02

B

The people’s government will not impose

any additional burden on the common man.

—Prime Minister Raja Pervaiz Ashraf

PeSHAWAR: The Bank of Khyber & AF

Ferguson join hands and sign contract for

Bank's process re-engineering. MD BOK &

Partner of Ferguson sign at BOK Head Office

Peshawar. Pr

KARACHI

NNI

Karachi Chamber of Com-merce and Industries(KCCI) will be, always, onthe forefront to providebusiness trainings to our

members, including local SMEs,” saidKCCI President Haroon Agar in ameeting held with a delegation ofPearl Shine Group International(PSGI), which is the nominated strate-gic partner of www.Alibaba.com, theworld’s largest business-to-business(B2B) online marketplace. “Our localSMEs in Pakistan should know how toutilise online trading channels forgreater business growth,” Agar added.

Alibaba.com and Pearl ShineGroup International (PSGI) plan to or-

ganise practical trainingsessions and work-shops on onlinebusiness andtrading in col-laboration withchambers ofc o m m e r c eand industriesoperating indifferent citiesof Pakistan.Showing greatinterest on the pro-posed training andworkshops on e-com-merce, the KCCI President saidlocal traders and businessmen in Pak-istan can never grow without master-ing the latest tools of conductingbusinesses via online channels avail-

able on the Internet.At the meeting,

PSGI CEO IrfanHaider Awan

gave a detailedbriefing toKCCI aboutonline busi-ness trainingand its bene-fits for local

SME’s, if up-graded as Veri-

fied Members(VM) at

Alibaba.com. The VMprogramme has been intro-

duced to broaden Alibaba.com’s poolof non-Chinese verified suppliers andoffer more options to global buyerslooking for international products,

while also helping non-paying sup-plier members in various overseasmarkets in establishing trust with po-tential buyers. The ‘Verified Member-ship’ programme is part of thecompany’s ongoing Trust & Safetyinitiatives.

The proposed educational andtraining programmes on e-commerceand B2B, along with VM, will allowsmall businesses in Pakistan to growtheir online presence and bring theirstorefront higher in search rankings atAlibaba.com. “With Karachi being thehub of business and commercial activ-ities carried out in Pakistan, hundredsof thousands of small businesses fromall manufacturing and industrial sec-tors have the potential to reach globalaudiences through the power of e-commerce,” said Awan.

ISLAMABAD

INP

One of the vital communal responsibilitiesof Head of Helping Hand for Relief andDevelopment (HHRD) is the enhance-ment of mental and psychologicalperformance of orphan students,who are in more need of attentionand care as compared to other stu-dents. Society can play a signifi-cant role in improving their mental,physical and educational skillsthrough different academic and co-curricular activities, said HHRD Coun-try Head Fazalur Rehman while addressingat Islamabad Chamber of Commerce & Industry(ICCI). He said relief efforts in Pakistan are ongoingand HHRD, through its various programs, continuesto make great progress in the country.

He said that HHRD efforts spanned all aspects ofsocial and economic recovery through programs suchas its “Integrated Approach toward Rebuilding Pak-istan” program which includes a Home ConstructionProgram and Water & Sanitation Hygiene Program.These programs are currently being implemented in11 adopted Union Councils throughout Pakistan.Moreover, programs such as “Interest Free Micro-Fi-

nance” have allowed for those affected to once againsupport their families, he added.

Speaking on the occasion ICCI President ZafarBakhtawari said it is our social and national

responsibility to help the needy and vul-nerable segment of the society instead

of relying on the government. Hesaid we should provide full supportto the organisations like HHRDwhich are institutionalising thespirit of compassion and volun-teerism. Bakhtawari appreciated

the role of HHRD as a viable modeland a broad-based organisation which

is working for people’s wellbeing. Healso lauded the role of Fazalur Rehman for

making this a sustainable, growth-oriented andreplicable organisation. The ICCI president assured fullsupport of his chamber to HHRD and informed themeeting that members of ICCI enthusiastically partic-ipated in the welfare of society. He also appreciated therole of HHRD for organising Mobile Medical Campsat different locations in Sindh which have provided freeconsultations and medications for flood victims.

He also urged HHRD to depute a team of mobilemedical specialists for Kachi Abbadi in Islamabad sothat they could diagnose the diseases of TB and Hep-atitis which are very common in these areas.

Yahoo closing sevenproducts, includingBlackberry appSAN FRANCISCO: Yahoo Incorporation is allset to shut down seven products, includingits mobile application for Blackberrysmartphones. Yahoo announced theshutdowns on its officialcompany blog on Friday,which is part of what thecompany views asefforts to evaluate andreview its productline-up. “Themost criticalquestion weask is whether theexperience is truly aneveryday habit that still resonates for all of you today,”said Jay Rossiter, Yahoo Platforms Executive VicePresident. The announcement is Yahoo’s secondcollective closure of products since Mayer, a formerGoogle executive, became CEO of the strugglingcompany in July. These closure announcements, inwhich multiple products are shut down, have becomequite usual at Google in the past few years. Mayerhinted the company would trim down its line-up ofmobile applications at an investor conference a monthago, adding that Yahoo would reduce the 60 to 75distinct mobile applications bringing the number downto 12 to 15 applications. Yahoo said its application forBlackberry smartphones would not be available for

download, orsupported byYahoo, fromApril 1. Yahooalso said on thesame date itwill stopsupportingYahoo Avatars.Consumers whowant tocontinue usingtheir avatar onYahoo’s onlineservices willhave todownload theavatar and thenupload theinformationagain to theirpersonalisedprofile. Theother productsset to betrashed includeYahoo AppSearch, YahooSports IQ, YahooClues, the YahooMessage Boardswebsite and the

Yahoo UpdatesAPI. AGENCIES

China ‘fullyprepared’ forcurrency war

BEIJING

AGENCIES

A top Chinese banker said Beijing is"fully prepared" for a currency war as heurged the world to abide by a consensusreached by the G20 to avert confrontation,state media reported on Saturday. YiGang, deputy governor of China's centralbank, issued the call after G20 financeministers last month moved to calm fearsof a looming war on the currency marketsat a meeting in Moscow. Those fears havelargely been fuelled by the recent steepdecline in the Japanese yen, which criticshave accused Tokyo of manipulating togive its manufacturers a competitive edgein key export markets over Asian rivals.Yi said a currency war could be avoided ifmajor countries observed the G20consensus that monetary policy shouldprimarily serve as a tool for domesticeconomy, the Xinhua report said. ButChina "is fully prepared", he added. "Interms of both monetary policies and othermechanism arrangement, China will takeinto full account the quantitative easingpolicies implemented by central banks offoreign countries."

KCCI to provide E-Commercetraining to local SMEs

ICCI assures support to HelpingHand for relief and development

PRO 03-03-2013_Layout 1 3/5/2013 12:58 AM Page 2