Tag Archives: Mounts

Syrian forces seal off Banias, tension mounts

AMMAN – Syrian security forces sealed off the coastal city of Banias overnight following pro-democracy protests and killings by irregulars loyal to Syrian President Bashar al-Assad, witnesses said on Monday.
In the capital, students demonstrated at Damascus University’s science college, students on the campus said. One activist said he received text messages saying security forces had killed one student and surrounded the campus. But a pro-government Facebook page said security

Yemen death toll mounts, West ups pressure on Saleh

SANAA – Western pressure mounted on Yemeni President Ali Abdullah Saleh on Tuesday to stand down as least 24 people were killed in as many hours and Gulf states sought to mediate a deal with the opposition. A spokesman for Yemen’s main opposition coalition, in an initial reaction to an offer by the Gulf Cooperation Council, said Saleh’s foes were ready for a conditional mediation.
“We have welcomed (a GCC invitation) and said we will attend, but to discuss a transfer of power

Saleh warns of civil war as pressure mounts

SANAA – Yemen’s embattled president warned on Tuesday that a coup attempt could spark civil war, as pressure mounted for him to step down and two soldiers were reported killed in a clash between rival units. US Defence Secretary Robert Gates, meanwhile, warned that Yemen’s political crisis could distract attention from its fight against Al Qaeda. With tanks deployed on the streets of the capital, President Ali Abdullah Saleh warned in an address to his top brass: “Any attempt to reach

KSE tumbles as uncertainty mounts

KARACHI – Friday saw bears dominate share trading at the Karachi Stock Exchange (KSE) where, analysts believe, falling global stocks amid geopolitical uncertainties in oil-producing Libya and Middle East and reports of a devastating Tsunami in Japan shattered investors’ confidence. The KSE-100 index dwindled 80.54 points or 0.66 percent to close at 12,045.25 points against 12,125.79 points on Thursday. “Bearish activity was seen as global stocks fell amid geopolitical concerns in the

Pressure mounts on Saudi Arabia to ease protest ban

DUBAI – Saudi Arabia came under renewed pressure on Wednesday to ease its ban on demonstrations, as Facebook activists called for a “Day of Rage” and a “Saudi revolution” later this week.
With the tightly controlled kingdom’s security forces poised to crack down on any unauthorised demonstrations, US-based lobby group Human Rights Watch added its voice to demands for a relaxation of the protest ban. “Saudi Arabia should rescind its categorical ban on peaceful demonstrations,” it

PSO receives Rs 28 billion as circular debt mounts

KARACHI – The cash strapped state oil marketing company, Pakistan State Oil (PSO), has received around Rs 28 billion from the Ministry of Finance against dues owed by Pakistan Electric Power Company (PEPCO) and Kot Addu Power Company (KAPCO). Given that the amount of circular debt has ballooned to Rs 168 billion, the finance ministry, as part of its effort to clear the circular debt, has made a payment of Rs 28 billion to the PSO on Wednesday, sources said.
However, PSO claims

GCU mounts high

LAHORE – The Government College University (GCU) Lahore on Wednesday won All Pakistan Inter-University Mountaineering Championship organised by COMSATS Institute of Information Technology Islamabad. A large number of athletes from various educational institutions participated in the competition held under the auspices of Higher Education Commission (HEC). COMSATS secured second position in the championship while Islamia University Bhawalpur and Superior University were declared as

Investors wary of NPL as circular debt mounts

KARACHI – Uncertainty regarding circular debt, plant efficiency and timings of dividend payment are likely reasons of Nishat Power Limited’s (NPL) inability to gain market strength. Investors are surprised that, despite more than expected earning per share of Rs 3.4 in the first half of the Financial Year 2011, NPL has been unable to gain investors’ attention.
With electricity tariffs put on hold for the last several months, government is bearing a monthly subsidy of Rs 15 to16